The Bank of Ghana (BoG) has directed banks and other specialised
deposit-taking institutions to ensure that people who deposit money into
and/or withdraw same from accounts that are not theirs provide their
“full personal details” to the transacting institution.
In a notice published in the Wednesday edition of the Daily Graphic, the central bank said such persons must provide their “name and address, a verifiable identification card and a telephone number to the requisite bank or specialized deposit-taking institution.”
It said the directive was in compliance with the section 23 of the Anti-Money Laundering Act, 2008 (Act 749), as amended.
The Act seeks to shine transparency on persons engaging in financial transactions in a bid to stem money laundering.
The notice was signed by the Secretary of BoG, Frances Van-Hein Sackey.
It said “in accordance with section 23(7) of the Anti-Money Laundering Act 2008, (Act 749) as amended, all banks and specialised deposit-taking institutions shall require the full personal details of a person who makes a deposit into or withdrawal from an account on behalf of another person.
“Banks and specialised deposit-taking institutions and the general public are to take note and be guided accordingly,” it said.
Graphic Online understands that some of the banks and specialised deposit-taking institutions were complying with the directive prior to the September 4 notice.
The Bank of Ghana (BoG) has directed banks and other specialised
deposit-taking institutions to ensure that people who deposit money into
and/or withdraw same from accounts that are not theirs provide their
“full personal details” to the transacting institution.
Huawei Ghana launched its inaugural IP Club in Accra, bringing together
private and public sector IT experts for exchange of ideas and
development of IP industry in the country.
The platform is the first of its kind in Ghana signifying another step forward towards transforming the country into an information-rich and knowledge-based society and economy.
Announcing the launch at Huawei Ghana’s first IP GALA in Accra, Chen Zhijun, Vice President of Huawei Southern Africa Region stated, digital transformation is sweeping across the world and Huawei is firmly committed to innovation and local talent fostering by creating an open, healthy and sustainable ecosystem where every stakeholder can contribute and benefit from.”
He added Chen Zhijun added that in the coming days more technology and resources will be allocated to the Ghana market to facilitate new technologies adoption and increase supply of advanced intelligent IP network solutions and differentiated innovative products.
He asserted that it will strengthen the cultivation of talents and upskilling of ICT practitioners in the IP Club.
The event with its theme: “RETHINK IP FOR A DIGITAL ECONOMY”, was attended by Deputy Minister of Communications of Ghana, Hon. George Andah and over 200 representatives from Mobile Network Operators (Telcos) and IT enterprise for in-depth exchange of ideas over topics including challenges in digital transformation, industry standards formulation and public-private sector collaboration.
In his welcome address, the Deputy Minister of Communications said: “the IP Club is timely intervention which will help ICT professionals in Ghana compete on the global stage.” He noted that the initiative is in line with the digitization strategies of many countries including Ghana as it helps cultivate a pool of ICT professionals that are crucial to industry development, thus boosting ICT industry growth, driving the development of different sectors, and contributing to lower unemployment rates over the long term.”
As one of the core leaders in the IP network field, Huawei aims to meet customers’ requirements for digital transformation and intelligent networks. In the mainstream scenarios such as enterprise campus, data center, WAN, WLAN, and network security, Huawei launches the four-engine brand strategies of CloudEngineer switches, NetEngine routers, and AirEngineer WiFi 6 AP, HiSecEngine security gateways, while leading in key technologies and business processes, it also makes outstanding contributions to the industry.
Huawei is a global leader in technology and IP. The company has contributed to the development of the frontiers of technology on the global level. It sits on more than 40 technology working groups.
Additionally, Huawei contributes to more than 12 industry standards and open source organisations. It participates in about 80% of SRv6 standards formulation. Huawei drafts more than 240 technical proposals on WiFi 6, making it the highest ranking company in the industry.
Huawei builds interactive end-to-end products and its Huawei AirEngine, the industry’s first commercial Wi-Fi 6 product won the 2019 Gold Media Award at the InterOp Tokyo Exhibition in Japan. Huawei combined efficiency with non-existent innovation to produce an ultra-large bandwith, ultra-high capacity and ultra-low latency product. The product is also an Internet-of-Things (IoT) flexible.
In Ghana, more than 300 people from over 15 local companies has benefited from technological upskilling in ICT training center in Accra established by HUAWEI Ghana in December 2018.
Former President and NDC Flagbearer John Dramani Mahama has been very
vociferous about how the Akufo-Addo administration has handled the
banking sector reforms but a Parliamentary record has exposed his
According to him, the current government should have concentrated on injecting more cash into the struggling banks in order to keep them afloat, instead of collapsing and consolidating them.
In his many declarations, Mr Mahama has postulated that the methodology used to sanitize the banking sector leaves a lot to be desired and that it has led to job losses of what he describes as innocent employees in the banking sector.
This accusation of the supposed collapse of the banking sector by the Akufo-Addo government is being heavily propagated by members of the opposition party’s communicators.
Available documents, however, indicate that former President John Mahama admitted to the very same banking sector he accuses Akufo-Addo for supervising.
In the 2016 State of the Nation’s Address delivered in Parliament by the former president, the NDC flagbearer made these admissions;
“Mr Speaker, over the past five years, there has been a proliferation of microfinance companies. These companies come under the direct supervision of the Bank of Ghana. Unfortunately, lack of effective supervision has resulted in many cases in which microfinance companies licensed by Bank of Ghana have breached the rules and created supposed pyramid schemes that have eventually come crashing down”
The former President, by this statement in the 2016 version of the State of the Nation’s Address, confessed to the banking sector crumbling down under his tutelage.
This admission as captured in the former president’s own speech makes nonsense of his accusation that the Presidency of Akufo-Addo is to blame for the crisis we have witnessed in the banking sector.
Though he has chosen to be dishonest in his commentaries on the banking sector reforms, his own words have come back to haunt him.
The Ambassador of Mexico to Ghana Her Excellency Maria de Los Angeles Arriola Aguirre, has called on the Ghana Ports and Harbours Authority as part of her nation’s initiative to enhance economic relations with Ghana.
The Mexican ambassador, who was speaking to Management of the Ghana Ports and Harbours Authority, stated that although her country has little presence in Africa, Mexico identifies Ghana as a strategic point of African development, hence chose to re-establish its embassy here.
She described her country’s reinvigorated relationship with Ghana as essential, because Ghana is playing a key role in the establishment of the African Continental Free Trade Area and would be key for Mexico to do business with Ghana.
“Today, Ghana will head the African Free Trade Area Secretariat. That means a lot. It means Ghana has gained reputation inside Africa and Ghana will be the Gateway for Mexico to come and do more business with Africa”, she stated.
She revealed that with political dialogues between Ghana and Mexico having taken place recently, Ghana’s Ministry of Foreign Affairs has assured to reopen its embassy in Mexico to take advantage of Mexico’s interest in Ghana.
She said her country takes significant interest in the widening of the Ghana’s ports which would open up new opportunities for Ghana’s economic partners like Mexico.
“We are interested in the opportunities for this Port which is widening to become the most important port in West Africa”, she added.
The Director General of the Ghana Ports and Harbours Authority, Michael Luguje said, the Ports Authority is taking ambitious strides to provide the needed supply chain logistics to support Ghana’s current attractiveness to the trading world.
“All the ambitious projects that we have in place, including the port expansions in both Tema and Takoradi. We are even building a new port in Keta. All that is to make sure we are a step ahead of the demand of trade”, he revealed.
He said his outfit would seek to rally stakeholders to investigate possibilities of collaboration between Ghana’s ports and Mexico.
“Mexico is a significant economy in Latin America, and we certainly would be encouraging our trading community to find what the competitive advantages are in trade with Mexico”, he asserted.
Some members of Ghana’s trade industry, who were present at the meeting, expressed some enthusiasm, to see Ghana break boundaries in trade with other countries for economic development.
“We have always been looking for ways of registering our products outside the boundaries of Ghana. We want to go global, so when there is an opportunity like this, we take it”, Elvis Blankson, Marketing Manager of GIHOC Distilleries expressed.
A 35-year-old Ghanaian Rubbin Sarpong, 35 has been arrested for his
involvement in $2.1m Romance fraud in the United States of America
The suspect who faces up to 20 years in prison if convicted is reported to have in concert with others scammed over 30 victims identified so far as 27 sent more than $823,000 to him mainly by wiring money to his bank accounts. He transferred more than $454,000 to co-conspirators in Ghana.
One of his victims is reported to have committed suicide after sending more than $93,000, according to investigators.
Sarpong who flaunts dollar bills at the least opportunity was on Wednesday charged with a single count of conspiracy to commit wire fraud and will have a first court appearance on Wednesday afternoon.
Sarpong and his co-conspirators, several of whom live in Ghana, ran the scheme starting in January 2016 until this week.
They set up phony profiles on various online dating sites posing as U.S. military personnel and would pretend to forge romantic relationships with their victims, authorities said.
In one of the scenarios, the scammers would then ask for money to ship gold bars they had recovered while stationed in Syria back to the United States, authorities said.
There were no gold bars and the scammers kept the money, authorities said.
The victims, who met the scammers via sites including Plenty of Fish, Ourtime.com and Match.com, communicated with the scammers via phone and email.
The criminal complaint references a victim who committed suicide after wiring $93,710.
The scammer in this case told her he was a soldier serving in Syria and that he was awarded a box of gold bars worth more than $12 million. What followed was an elaborate story about how she could help get the gold to the U.S. by paying various fees and taxes. She was told her money would be returned once the gold arrived.
Chief Justice Sophia Akuffo, on Monday surprised many people following
the uniCredit Savings and Loans Company case against the Bank of Ghana
(BoG) over the recent revocation of its license, when she changed the
High Court Judge sitting on the case filed by a shareholder of the
company, leaving the courtroom with lots of unprintable speculations.
The case was placed before the Human Rights Court presided over by Justice Nicholas Abodakpi, who started hearing on August 26, 2019, and adjoined it to September 2, to enable BoG respond to the writ, having pleaded late service.
However, lawyers for Kwame Ohene Boakye, the plaintiff, were shocked to discover that the case had been taken away from Justice Abodakpi by the Chief Justice and handed over to another High Court Judge; Justice George Kingsley Koomson, to start afresh.
Ahead of this sudden change, The Herald is privy to phone calls, secret meetings by officials of BoG, a National Security invitations with Minister of State at National Security, Brian Acheampong, the Director of Operations at National Security, Colonel Michael Kwadwo Opoku, the National Security Coordinator, Joshua Kyeremeh and Charles Nii TeikoTagoe, a Presidential Staffer at Jubilee House present all in an attempts to have the case dropped.
The plaintiff, who is also a lawyer by profession, has confirmed the interesting developments to The Herald, since he filed the writ.
The Herald’s checks at the court, has also revealed that the Justice Abodakpui, has since been sent packing to Ho, the Volta Region regional capital.
Kwame Boakye, is asking the High Court Human Right division to quash the Central Bank’s August 15, 2019, decision declaring Unicredit Ghana Limited insolvent and revoking its license to operate as a specialized deposit institution,
Multiple court officials familiar with the matter told The Herald that lawyer of BoG led by Accra-based lawyer, Frank Davies, had last week filed an application challenging the Human Right Court’s jurisdiction to hear the matter, but instead of allowing Justice Abodakpui to rule on the matter of jurisdiction, he was written to late last week, to hand over all cases before him and leave for Ho.
What makes this more bizarre is that ahead of the trial, court clerks were not prepared to receive and process the writ submitted to them on August 19, saying they had been warned not to accept any writ against BoG, especially coming Dr. Kwabena Duffour, owner of Unicredit and Unibank.
The Herald is informed that there were back and forth between officials of the High Court Registry and a clerk from Mr Ohene Boakye’s lawyers, until one of the lawyers stormed the Court Complex in Accra, with a threat to go to the media over the matter.
With the documents filed, serving officials of BoG equally became a challenge with security men and receptionists, saying they had been warned not to allow bailiffs to serve writs on the Central bank.
This led to the bailiff waiting and dropping the court documents in the car of an officer of BoG, who eventually agreed to sign as the necessary papers as proof of service.
With writ served on BoG, some seniors officers, including Dr. Maxwell Opoku-Afari, and Elsie Addo Awadzi, the First and Second Deputy Governors, put out a scheme to have Mr Ohene Boakye drop the case. As telephone calls could not yield any result, a meetings was scheduled at Kwabenya in the home of another officer of the BoG, who is related to the plaintiff.
With the Kwabenya secret meeting also failing to yield any result, Mr Ohene Boakye, was summoned to the National Security with Brian Acheampong, Col. Opoku, Mr. Kyeremeh with the surprise personality there Charles Nii Teiko Tagoe present.
The Herald was told Charles Nii Teiko Tagoe’s attempted to interrogate Mr Boakye, but was rebuffed by the plaintiff and the meeting ended inconclusively, because Ohene Boakye, according to The Herald’s National Security sources, decided to be uncooperative.
In court on Monday, Justice Koomson, adjourned the case to September 19, 2019 as a result of the inability of the BoG to serve lawyers of uniCredit with a motion they filed relating to the case.The new Presiding Judge, requested that both parties serve each other with all the processes in other to expedite the hearing.
The shareholders of uniCredit, Hoda Holdings and CDH, sued the Bank of Ghana and its governor, Dr. Ernest Addison, after the central bank revoked the license of the company.They want the court to quash the BoG’s revocation of their license which declared uniCredit as insolvent, thus compelling the company to cease operations.
Lawyer Emmanuel Darkwa and Frank Davies are the lawyers for BoG, while Lawyer Kwasi Adu-Mante is lawyer for Kwame Ohene Boakye. Aside asking the revocation quashed, Kwame Ohene Boakye also a shareholder, wants the court to refer the matter to arbitration.
The writ sighted by The Herald, said that the company cannot be described as insolvent, because it had an estimated GHc54 Million with Unibank, which had been taken over by BoG as part of the Consolidated Bank, and the majority shareholder of Unibank is in court with the same BoG fighting to have Unibank, back.
It explained that on March 20, 2018, the BoG, had appointed an administrator under Act 930 to take over and streamline the activities of Unibank.
The said appointment placed restriction on HODA Holdings, which gravely affected the company’s financial situation, but attempt are under way to retrieve the company’s investment with the Consolidated Bank.
Aside, a GHC54 million, Unicredit’s investment totaling an estimated GHC 164 million is also held by Unisecurities Ghana Limited, however, the said investment with Unisecurity, were impaired with the capital adequacy ratio contrary to the regulatory standards set by the BoG as a result of the takeover of Unibank.
The lawyers insisted that, BoG is aware of the situation Unicredit finds itself, as a result of BoG’s restrictions on the company to access its own funds through the receiver appointed to oversee the transaction occasioned by the revocation of Unibank license, yet went ahead to revoke the license of Unicredit.
The writ said that BoG, had acted beyond it powers under Act 930 by unduly interfering in the affairs of the Unicredit by revoking its license, adding the central bank’s inexplicable attitude, points directly to a premeditated agenda to cause it a grave economic hardship.
The writ insisted that as at August 16, 2019, Unicredit, was solvent in terms of Act 930.Ohene Boakye, described the decision by the BoG, as arbitrary, malicious and capricious, because it contravene the Constitution of Ghana.
Unicredit, further insisted that at no point in time, did BoG indicate to them that the company, had become insolvent to warrant a revocation of its license based on empirical facts, adding BoG’s action is purely on deductions informed by deliberate creation of an extreme difficult financial situation to induce the company and its shareholders to give away Unicredit.
The writ said Ohene Boakye, stands to lose gravely if the decision of the BoG is not quash by the High Court, adding that unless the Supreme Court restrains BoG, it agents, assigns will go ahead and take control and interfere with the operations of the company, to his detriment and the detriment of depositors of the company.
In announcing the revocation of the license of uniCredit last month, the Bank of Ghana said the savings and loans company’s adjusted net worth was negative GH¢221.32 million as of the end of May 2019 and revealed that its paid-up capital was impaired in violation of Section 28(1) Act 930.
The BoG report also said uniCredit’s adjusted capital adequacy ratio of negative 97.83percent as of the end of May 2019 was in violation of Section 29(2) of Act 930.
“This was mainly due to the non-performing related party exposures of GH¢160.10 million to uniSecurities which is far in excess of its negative net worth.”
“The institution has been breaching the statutory cash reserve ratio requirement since April 2018 while also it was unable to meet the deposit withdrawals of customers due to its severe liquidity challenges. The BoG received many complaints from the institution’s customers about their inability to access their funds. And the institution had a high percentage of non-performing loans,” BoG’s report remarked.
But in its affidavit, challenging the Central Bank’s decision in court, Hoda Holdings, said its funds of over GHC54 million were locked up with Unibank before it was forced to cease operations by the Bank of Ghana in 2018 and it has since been trying to retrieve it.
More to come!
Government of Ghana in the late hours of Tuesday, July 30 announced the
abrogation of the contract with Power Distribution Services barely six
months after the company took over from the Electricity Company of
In a statement signed by Information Minister Kojo Oppong Nkrumah, it disclosed that “the decision follows the detection of fundamental and material breaches of PDS obligation in the provision of Payment Securities (Demand Guarantees) for the transaction which have been discovered upon further diligence. The Demand Guarantees were key prerequisites for the lease of assets on 1st March 2019 to secure the assets that were transferred to the concessionaire.
It further indicated that steps were underway to unveil the details that went into it as government is conducting a full enquiry into the matter.
Checks by Ghanaweb have also revealed that following the transfer of ECG’s assets and operations to PDS on the 1st of March, 2019, ECG, acting as the beneficiary of the Demand Guarantees, has subjected the Guarantees submitted by PDS to further due diligence tests.
ECG received a letter from Al Koot, dated 16 July 2019 that claims, among other things, that the officer who executed the Guarantees from Al Koot was not authorized and that the Guarantees are null and void. The letter also stated that the officer had committed fraud.
Insider information further revealed that the alarming development resulted in meetings with officials of Ministry of Finance and ECG as well as with President Akufo-Addo.
After the meetings Government decided to crosscheck the information contained in the Disclaimer Letter by sending a Delegation of Stakeholders to Doha, Qatar, on Wednesday, 31st July 2019 to meet with officials from Al Koot.
3news.com has gathered that government suspended the concession
agreement with Power Distribution Services (PDS) after discovering that
the person it had been dealing with was a fraudster.
It is now emerging that the officer who executed the Demand Guarantees (Lease Payment Security and BSA Payment Security) submitted by PDS was not authorized.
PDS was supposed to manage the operations of the Electricity Company of Ghana (ECG) for 20 years starting from Friday, March 1, 2019.
But government was forced to suspend the agreement with immediate effect as a precautionary measure, 3news.com understands, having realized the element of fraud in the transfer of ECG’s assets and management to PDS.
When authenticated, it could lead to the nullification of the entire ECG concession agreement.
Sources close to the deal told 3news.com this major development came to light following a series of due diligence tests the guarantees were subjected to by the ECG.
In the course of ECG investigations, a commercial insurer and reinsurer, Al Koot, which is based in Qatar wrote a letter to ECG dated 16th July, 2019 claiming among other things, that the officer who executed the Guarantees from Al Koot was not authorized and that the guarantees are null and void.
The letter also accused the officer of committing fraud.
A number of meetings were subsequently held between government and stakeholders on July 28 culminating into the suspension of the concession agreement on July 30.
Meanwhile, a government delegation is expected to travel to Qatar on Wednesday July 31, 2019 to meet with officials from Al Koot in order to verify the information specifically on the fraud aspect.
Government has also assured that it is taking steps to ensure the development does not affect distribution, billing and payment services.
The Ghana local network installers have expressed a strong dissatisfaction over their inability to get contracts as result of the takeover by Huawei Technologies Company to fixing networks in the country.
“Huawei is enjoying monopoly in the network business ever since it took over the installation of network in the country, our job have totally become irrelevant, network providers do not seek our services any longer”. The statement of the group.
The group said Huawei has smashed down prices of contracts they award the local contractors.
Little prices are giving out to them and “when you talk about it, Huawei will take you off the project then bring on foreigners ( Nigerians)”.
“We feel very feel neglected since none has intervened on our behalf”.
They have demanded a immediate government intervention to negotiate with Huawei Technologies to increase prices of the contracts else they will deal with the foreigners.
Who are the Telecom Riggers
They are Responsible for installing and maintenance of BTS,RBS,Telecommunication microwaves,GSM Antennas etc. to ensure networks are running smoothly and upgrades networks to provide maximum.
“Local area networks (LANs), wide area networks (WANs), the Internet, intranets, and other data Telecommunication providers.
Call for more
Mr Adu-Ening Ebenezer
Mr Jerry Boateng
BY: Asonadehye Kwarteng
The former South African President, Nelson Mandela said: “Education is the most powerful weapon which you can use to change the world”.
On 1st September 2017, the NPP government led by President Nana Addo Danquah Akufo-Addo rolled out a policy that saw the 2017/2018 academic year Senior High School entrants admitted into the various schools they were posted to without paying any fees. This policy is termed “Free Senior High School” program and it aims at eliminating the element of cost which often becomes a barrier to higher education in Ghana.
In the 2017/18 academic year, over 200,000 students benefited from this program. This commendable policy was well-received by the citizens, as it brought a sigh of relief to many parents, especially to the children from financially-challenged homes.
This policy is also commendable in terms of helping Ghana achieve the Sustainable Development Goal(SDG) 4 which is to ensure that “all boys and girls complete free primary and secondary schooling by 2030” and also to eliminate educational inequality in terms of gender and wealth disparities.
The increasing number of students that were admitted into the free SHS program in the 2018/19 academic year necessitated the introduction of the double track system in order to accommodate more students into the program. The double track system was also due to infrastructural challenges faced by the various senior high schools in Ghana, which the government intend to resolve over time.
With about 517,332 candidates who wrote the Basic Education Certificate Examinations this year, the issue of infrastructural challenges is likely to worsen and could deepen the multiple-track system introduced into the senior high schools in the 2018/19 academic year.
One reliable means by which the government can ease the pressure on the infrastructural facilities in the various senior high schools in Ghana is to include private senior high schools in the free S.H.S program. Even though the effort has been made by the government to provide extra classrooms blocks for some senior high schools ahead of the 2019/20 academic year, the inclusion of the private senior high schools in the free S.H.S program will be highly commendable and will provide more room for curbing the temporal double track system in no time.
are over 500 private senior high schools in Ghana, who are providing
various forms of educational programs ranging from business, general and
agricultural science, visual and general arts to home economics. Most
of these schools are well equipped in terms of infrastructural
facilities such as adequate classroom blocks, boarding houses to
accommodate students as well as excellent teaching and learning
materials. These schools also have qualified teachers who offer
excellent tuition to students. This often translates to excellent
performance in the West Africa Senior School Certificate Examination
There are several benefits the nation stands to gain when private schools are included in the senior high school program. Notable among them are:
Less pressure on government in dealing with the infrastructural challenges facing public senior high schools
The inclusion of private senior high schools in the free senior high school programme will relieve the government of the expected urgency in the provision of extra infrastructural facilities in the public senior high schools in the short term. This is because some private senior high schools are well equipped in terms of infrastructure to accommodate students in the boarding houses and also have quality teachers just the public senior high schools, and therefore have the capacity of providing quality education and contribute immensely towards human capital development in Ghana and the world as a whole. This can help Ghana achieve greater economic growth, just as empirical work has proven that quality education played an active role in the economic growth and development in the Asian countries (Asian tigers) such as Hong Kong, Singapore, Malaysia, South Korea and others.
Furthermore, it will help the government in ensuring fiscal discipline, have ample time to make effective decisions to improve the educational sector and also enable the government to channel funds to other sectors of the economy in order to achieve significant growth in all sectors of the economy. It will also help in eradicating the multi-track system, which the government introduced as a short term measure of dealing with infrastructural challenges among the public senior high schools in Ghana.
Prevention of collapse of private senior high school and enhanced growth and employment
According to Ghana Statistical Service, the number of people living in extreme poverty in Ghana increased to 2.4 million as at 2017, with Gini coefficient of 43.0% (GLSS 7) and poverty rate standing at 23.4%. This can partly be attributed to high unemployment rate and lack of sustained source of livelihood. Hence, any policy that can provide employment opportunity is highly recommendable.
The inclusion of private schools in the free S.H.S program is, therefore, one of the means of eradication of unemployment in Ghana, since it will liberate the private schools from fear of collapsing due low intake of students, thereby sustaining employment and huge investment in the private schools in Ghana.
Furthermore, the inclusion of private schools in the free S.H.S program will induce employment of extra teachers by the private school to meet the expected increasing demanding of teachers. This will there result in the employment of teachers beyond the 59,000 the Education Ministry has already employed since 2017.
It will also ensure that private schools do not collapse, as many private schools are on the verge of collapsing due to the decreasing number of student intake.
This will prevent the current private S.H.S employees which include teachers and other staff who are making an immense contribution to the growth of the economy through education, from losing their jobs and source of livelihood, thereby contributing to the reduction in the unemployment rate and ensuring significant growth of the economy of Ghana.