Bank of Ghana to Revive Local Currency

Bank of Ghana has indicated it will pump US$450million into the forex market during the first quarter in a bid to stabilise the local currency against the US dollar. This move comes immediately at a time where the cedi recorded its highest depreciation of 4% as against the US Dollar. Clearly, despite an earlier appreciation of the cedi, this recent depreciation is an indication of the high rise in the FX during the festive season; rising demand for international goods as against local goods, and speculation associated with the two currencies before, during and after the Christmas celebrations. In the midst of the coronavirus, economies are moving towards local production in line with its comparative advantage. Ghana is advised to produce more domestically and eat more from its own soils. The fundamental as it stands is good with a 14.5% current monetary policy rate (from 25.5% in Jan 2017); 12.6% inflation rate due to covid-19 (from a single digit) and a 12.1% for a 91-day treasury bill (all as at 13th Jan 2022), and these show that there is light at the end of the tunnel. Let's continue to support the current Akufo-Addo led government to deliver.

Cedies' Investments Corner

INNOCENCE OF MUSLIMS

INNOCENCE OF MUSLIMS- ''We are non-violent with those who are non-violent with us''- Malcolm X. Religious tolerance is civilized Peace towards true faith- Prof. Cephas Omenyo. He who would live in peace and at ease mustn't say all that he knows nor judge all he sees- Benjamin Frankin. Time immemorial there has been this feud settling between the Blackman and the Whiteman about supremacy. What makes this feud more advancing in this modern day living is the step Muslims all over the world have taken, fighting a good cause. According to Muslims, once you are against a good cause, they are also against you. In olden day America during the fights for civil rights for African-Americans, the Muslim community also had a more vibrant so-called radical wing, Nation of Islam. Then in 1959 a televised documentary, the hate that hate produced. It was alleged that the leaders (Nation of Islam) were preaching about hate. That was when their charismatic spokesperson (Malcolm X) made it clear that they were preaching what was moral apart from what was taught by the whites, the little black Sambo, children's literature written by Helen Bannerman, which was intended to corrupt a child's mind, According to the leaders of Nation of Islam the little black Sambo was a ridicule to the blackman, and was intended to create inferiority complex for blacks towards the white, in other words white superiority. Although the documentary was highly criticised by many including Dr. King who was himself leading a civil right movement, they believed they were fighting a good cause. Indeed, history helps me to imagine that, these men were men of great conviction towards liberalization in their own right. At a point in time the leader of Nation of Islam, Elijah Muhammed would say ''black people are divine and white people are devils..Allah is a black man'' to show their total disregard for the white. Louis X, later would be known as Louis Farrakhan would make a satirical trial comment as though he was sitting in a ruling that 'I charge the whiteman with being the greatest liar on earth. I charge the whiteman with being the greatest drunkard on earth. I charge the whiteman...the greatest gambler...greatest murderer...greatest peace breaker...greatest robber...greatest deceiver...greatest trouble maker on earth. So therefore, ladies and gentlemen of the jury, I ask you, bring back a verdict of guilty as charged!''. The world has witnessed current happenings where buildings where pulled down, companies were burnt down to ashes for using photos and cartoons of prophet Muhammad. Past relevations have shown that the prophet of Islam is not to be fooled with or disreputed in any form. Recent incidents have shown that the whiteman is indeed the greatest enemy in the Islamic world. Especially the U.S.A. and Britain. Presently, the world is facing a new chaotic transition and if care is not taken we'll witness something far more endangering. The innocence of Muslims previously known as innocence of Bin Laden and/or the life of Muhammad, is a movie making the airwaves very threatening. This movie was allegedly produced by a Coptic christian, Nakoula Basseley Nakoula and premiered in hollywood. It is alleged to have been initially uploaded to media site Youtube by an Egyptian-American blogger and Coptic christian Morris Sadek on September 8. 2012. And few moments after the inception of the except, four (U.S ambassorder to Libya, Chris Steven and three others) deaths were realized. Indeed, almost all the organisations and broadcasting houses that have had a view of the movie strongly condemned the movie, and commented clearly that the movie was intended to create unrest amongst the Muslim community. And that those involved knew the consequences of what they were doing. Reuters ''the except portrays Muhammad as a fool, philanderer, and a religious fake'', NBC News ''it depicts Muhammad as a womanizer, a homosexual and a child abuser'', BBC ''Muhammad fellowers are portrayed as savage killers hungry for wealth and bent on killing children and women'', New York Daily News ''obscenely inept variety project that is far beneath any reasonable standard of movie making'', Coptic Orthodox christian '' an inflammatory movie about the prophet of Islam'', World Council of churches '' an insult to the heart of the Muslim faith and to all people of faith''. My view ''The movie is a total ridicule to the Islamic founder. However, it portrays the real lifestyle of some Muslims about their high level of religious intolerance, and their contradictions towards peace as they claim to stand for''. In fact, what makes the whole issue more complicated is that the producer was himself under false pretences and at the same time deceived those involved. Cindy Lee Garcia (life now critically endangered), the actress who happened to play the role of mother of Muhammad's bride to be claims they (the cast and the crew involved) were made to believe differently the intended purpose of the movie. She said ''we were deceived about the purpose and context of the film''. And that the intended title ''dessert warrior'' which was to portray life in Egypt 2000 years ago was what they had previously been informed. This action of the producer is a crime of public deceit, abetment of crime, conspiracy to endanger lives, crime of fear and tension and public stunt. The whole twist of the movie clearly shows that the makers involved had a particular notion for this kind of movie. I expect all true Americans to come out and condemn this movie, as they had already begun. Freedom of speech is vital and crucial not only in and to America (s) but almost every sovereign state. However, a right which is intended to cause rage, chaos and unrest when exercised, shouldn't be exercised at all. We preach about democracy yet we fail to respect the views of our neighbours. To me this is something that we should all learn from because the message of peace is incomplete if the story of justice is untold. Indeed, I did not expect our Muslim folks to go that extent--killing innocent people. In fact this step is too radical and harsh I must condemn. Because two wrongs often said, do not make a right. It only ends up worsening matters. Our Muslim folks could have resorted to a more pleasant and peaceful approach if they really stand for peace (Salam). At the time of this article more than thirty (30) countries forming part of more than five (5) continents had already resorted to a highly volatile anti-Western demonstration. Burning American, Britain, France and Israeli flags amid chanting, ''hell to America'' . I call on the president of America to come out publicly with an official apology calling for calm. And also should meet with the leaders of the Islamic world before it is too late. Before more innocent blood are spilled (my only great concern). The most threatening aspect is that the Muslim world is demanding for an official apology and the arrest of those involved in the making of the movie. Meanwhile, those involved especially Nakoula Basseley Nakoula have gone into hiding, nowhere to be found, only the Americans know, some people alleged. The question I ask myself is, why has he gone into hiding? Why wont he come out openly and officially to declare his apology to the Islamic World-- to help restore world peace--rather than holding on to his stance-- thinking what he did was perfect? Even if what he did was perfect, the imperfect aspect was the involvement of the Holy Prophet. This reminds me of Benjamin Franklin ''he who would live in peace and at ease mustn't say all that he knows nor judge all he sees''. The President of America needs to come out with an apology because from the look of things, the demonstrations are not going to end now. And it is as if the world has called for trouble which it did not fan for. The American leaders need to act smart putting aside all forms of constitutionalism and supremacy lest it becomes too late to notice that, constitutional correctness sometimes is benevolent crisis. Beware!!!

WHO NEEDS PEACE?

The message of peace is incomplete when the story of justice is untold- Fanny Brew Smith. The problems we create today cannot be solved at that same level of thinking we at when we created them- Albert Einstein. Suffice to say if you were in a foolish thought before creating problem A, there is no way you can solve problem A when in a foolish state. Ghana is fast approaching her 2012 general elections. Everything seems to be set and clear. Men and women of God are praying for the peace of God for the country. Those who are of no beliefs are also of the utmost view that Ghana needs peace. Children and mothers especially those with their babies at their back, and those few pregnant who are yet to get their seeds delivered are showing a high sense of emotion, in a way as if to tell their husbands that they are the most vulnerable and that they shouldn't soil their clothes from a splash from the spilting of the only little amount of milk they have been enjoying all this while. I am not praying for the country. Naa, I am just monitoring what is happening and shaking my head intermittently. Because, one thing, one thing, which saddens me so much is our refusal to call- the pot black--the hipopotamus an ugly animal-- for the lid of the food if we want to save it from the early cold. What am I saying? So many people are talking about peace but just a handful of people are talking of how to practice it, work towards it and how to earn it. Rome, my mother told me when I was just a little boy, wasn't built in a day. He who loves peace loves justice. And he who would build a mansion loves asking of the price of a brick. Unfortunately the problem of not talking about justice has also come to add up to the already existing numerous problems of Ghana. If Ghana was my girlfriend I would say She is a burdened girl. This is the girl who wants to look beautiful. A girl who wants the whole world to see her as great. However, knows nothing about beauty. Yet, expects men to whistle her name day and night. How do we expect the whiteman to respect this girl if she's not willing to dis-associate herself from absurdity. Ghana has now advanced to the stage where She shows no regard for the clergy--men and women of God. And now hurl and spew uncontrollable insults at them, for sharing their concerns on the progress and the development of the country. The easiest way to solve a problem is when people talk about it. Shall we all now bow down our heads in shame and remember where we come from and what we are made of. The electoral commission will sooner or later add 45 constituencies to the existing 230 constituencies. There are no qualms about their constitutional mandate. In fact we are all of the view that this step will go a long way to help the nation, if not political at all, economically, we will all benefit. However!however!! however!!! the timing is what we are all concerned of. Many groups, Civil Societies have come out on the same view that the timing for the creation of the constituencies is too short. Because we only have three months to the general elections. Apparently, we are yet to put into practice the biometric voting, what we as a nation have never used before since Adam. People are of the fear that this year's election is going to be one which is never seen before. And that if we do not take heed the nation will run into jeopardy. But, it is as if the E.C has sealed its pinna with sticks and is unwilling to listen to the plight of the people. The Sovereignty of Ghana resides in the people of Ghana in whose name and for whose welfare the powers of government are to be exercised in the manner and within the limits laid down in this Constitution (1992 constitution, chapter 1(1). What appals the most is the recent trend that this discussion has taken. The clergy is now insulted for sharing its opinion. To the extent of insulting the moderator of the entire congregation. So the question I ask myself is that what do we think would have happened to the nation by this time assuming it was the chief Iman (Sheikh Osman Nuhu Shaributu) who was been insulted? Don't you think our muslim folks, I may be a Muslim someday, who hate no nonsense at all would have pulled down some government institutions? And those who hurled the insults, you think would have gotten home soundly without they not having their heads chopped off? The whole issue is somewhat flimsy. The National Democratic Party claim they are not supporting the E.C., just that they are doing their duties as parliamentarians. And according to them one of the duties of the parliament is to accept or reject whatever thing tabled before them. But, from the look of all angles they are undoubtedly supporting the E.C. Because, the rebuttal comment from the two NDC officials alone (Mr. Allotey Jacobs and Mr. Asiedu Nketsiah) that, ''the clergy is for the Bible and the politician is for the constitution so the clergy should shut up when it comes to issues relating to the constitution'', shows that they are supporting the E.C for an unknown motive. Upon all these insults hurled at the most honourable clergy, the former moderator of the Presby church, Rt. Rev. Dr. Frimpong Manso came out and on his part, for peace to prevail, asked the P.R.O of the church to render an apology to the politicians (names aforementioned) for saying that he probably thinks that, the general secretary of the NDC, Mr. Asiedu Nketsiah has taken some hard liquor if not he wouldn't have made such comment. A comment which sought to ridicule the intelligence of the clergy when it comes to issues of national concern. Christians are always portrayed as the soft ones but Jesus wasn't soft at all. The time he needed to flog he flogged. When he needed to reply the elders back with a scorning wise statement he did reply. The church and the state, in theory have been separated but not in practice. Some day I may be a Muslim. Regardless of these skirmishes the E.C is still displaying some level of elderly stubbornness. Now the bottom line is drawn in my face that the clergy has no right or whatsoever when it comes to issues of national interest, lest they be politicians, full stop. "When we give food to the poor, we are called Saints. When we ask why the poor have no food, we are called politicians. When we pray for peace during elections, we are called men of God. When we demand integrity from our leaders, we are called hypocrites. Politicians want our prayers not our wisdom" - Rev. Dr. Mensa Otabil (Daily Graphic, Saturday, March 26, 2011) Sometimes I regret the day of my out-dooring. On that day I was given two drinks, wine and water. I was told never to substitute one for the other. When I see wine I should take heed so I don't say water. Or when I see red I should not say white. Unfortunately they didn't tell me the truth. They told me the exact opposite of what the society was made of. The society takes wine for water and water for wine. You are always tagged as been a faithful of the other side if you speak the truth. Very few people want to hear the truth. Who needs peace? Ghana is not prepared for the story of justice. And if this is what we are engaged and if this is what is going to continue then we should forget about development for now. So that someday when we the new set of generation take over the affairs of the nation, we will then know what's best for our burdened girlfriend. God bless the youth first, and Ghana second.

THE GHANAIAN TAXPAYER IS ONLY WASTING MONEY

Common sense is dying. The government of Ghana is wasting its time ensuring clean and healthy sanitation. Ignorance to the law they say is not an excuse but is it the fault of the people when the laws of the land are not communicated to them? The law they say is above common sense but most often we expect the people to use their common sense in addressing issues. So which is which, common sense or the knowledge of the law. It is against the law for anyone to drop or throw any waste material around. But, the question is, when has the National commission for Civic Education ever taken that bold step to announce to the people that it is against the law to throw waste materials about. And that it goes a long way to affect us all. Is it not their responsibility? Whose is it if I should ask. And if those responsible have already taken that step was it continual, or it got to point and they stopped? Why would they stop if I should presume they started. Oh Ghana, what are our priorities? Do we not prioritize clean sanitation higher than the construction of roads? If not then I beg to say that Ghana is not a serious country. Who is Ghana? We are Ghana. So it simply means that we are all not serious. But, the quantum of un-seriousness hugely falls on the government more. We are just wasting the resources of the innocent land. Most often we expect the people to use their common sense in such issues yet the law they say is above common sense. Today, people still drop waste materials anyhow and anywhere. And if anyone thinks that people are still using their common sense or people'll use their common sense then I should be quick to inform those people that common sense is dying. The government spent millions of our currency just to ensure clean sanitation alone when it could address the people morally through the media and other sources. Or have we forgotten the traditional power of the media? What a wasteful government we have. Until the government change it approach the people will continue to live by their attitude. There is no such thing as free lunch and the government ought to make it clear to the people. The more we continue to mess up our environment with waste materials, the more the governments spends. And main onus lies on the government to see to it, how and when they need to address the moral concerns of the people. We also talk of clean sanitation but very little is done to ensure a dirt free sanitation. Man is such that when the moral conscience is addressed he tends to show some level of concern. And until the government, on whose feet we all rest take up the initiative to appeal to the people moral conscience, we as a country should forget about a dirt-engulfed free sanitation. God bless the youth first and Ghana second.

FUTURE LAWYERS ONLY WASTE THEIR TIME IF THEY DO NOT CONSIDER GHANA AS THEIR LAST OPTION

O young folks of Ghana. Thou art my age measure and strength. When thou be old and reasoning. Then thy sons and daughters needeth be people of law, For now that we be living, Give all rest to thy country Ghana. And consider not her Schools of Law. But, fly them by planes to the white land. The land of unconditional discipline en avocat. That they be seasoned and tasty wit high sense of integrity. Cos thy country Ghana shallows and lacks in proper men and women of law. The Professors dems, sorry, the Doctors dems, sorry, and the lecturers dems who gat nothing to tell a story. Nothing an action to take for Ghana. Where her laws still remain in theory. The semi-bogus corruptible Judiciary cum the biased 1992 Constitution. Then someday before you lay down your head to rest. You sigh, O my soul I took a good step. Now, Ghana, my motherland, is free from jokers.

IMBECILE SECURITY FORCE

My biggest problem concerning the government is not about the government's inability to perform to the interest of the good people of Ghana, but the security force especially the Police system. As a repressive weapon, governments invariably use the police force to their advantage, believe it or not. And my greatest worry sterns from the way the Police is manipulated by governments. The Police is not for the government, neither is it for the people. The Police is for all and sundry and this fact must be duly recognised. Inasmuch as the Police is expected to play an inactive role in politics, it is also prudent for the them to recognise in intelligence that their intelligence is played with. And that governments only come and go, but as a civil apparatus, the Police force will always remain whether rain or shine. It is also a plural notion for the Police to note that the nation is not for Politicians or the government, the nation is ours and they need to be intelligent in their reasoning, and better be active in politics before it's too late. In high analytical inferences or nirvana, the security force ought to know that they are more powerful than the politician or the government. They carry much weight than the government and must not allow themselves to be tossed about like milk "tontrowah" by the government of the day in achieving her hypocritical addendum. There's amnesty in power.It daunts on me so much the level at which the security force have been sterilized and made inactive especially the Police institution. The constitution has captured as one of its provisions that the police cannot engage in active politics. This provision is only there to render the Police inactive and the traditional role of ensuring democracy and economic development through their checks and balances on the government of the day. The traditional assertions, as to whether the security force could engage in politics, or not was debated clearly that the security force carry much weight and because governments come and go they cannot engage in active politics. However, could have an inactive engagements with politics. Imaginably, one of the many underlining principles was that the security force was to be for all and not one particular faction to enable it to effectively maintain law and order. And to maintain law and order the traditional analyst quickened to add as well that to maintain law and order there should also be the need for justice but justice could only be made possible in the presence of equality or equal rights. Again they taught of how the government could make money and brought up the issue of taxation and other investment abroad. And their standard of living wouldn't fall below their expectations. For taxation within governments they brought the issue of ethics and the declaration of one's assets. But how could the information of declarated asset get to the people one elder asked. They thought through and thought it wise that there should be the need for a group,today's ministry, that would be responsible for the despatch of information. Philosophically one elder stood up and said, the fact that we'll an information ministry doesn't mean that information alone will get to the satisfaction of the people. One elder brought the issue of the right to information and privacy. They deliberated for few minutes and brought the main reasons why they thought the inception of the right to information would help promote justice. For them were, transparency,probity and tolerance and understanding. They said the declaration of assets will bring transparency in government, it'll help the people know for themselves the property and the quantum of property owned by a government official, it'll then help the people to also investigate for themselves how officials acquired latter assets, and make any necessary report to the Police to effect any action. This according to one elder will go a long way to create trust in the people for the government and will intend lead to justice to some extent as there are injustices in so many areas of the government and injustice any is a threat to justice everywhere. Today as I write this piece, the law and order the traditional thinkers and leaders sought to achieve now shudder like falter. There's little or no law and order within the government. To where are we as a nation heading. Yet we expect the people who carry much weight in the society to not participate in active politics. The ways laid down by the people of old are abandoned. Yet they expect people to be mute. Their plans have failed. The plans of politicians and bellicose have failed. Imbecile security apparatus especially the Police need to wise up. It is about decades they came to the obvious notion that when the nation crashes it is imagery their fault. And it affects their wives and girlfriends if any. God bless the youth first and Ghana second.