This Saturday on Newsfile: Looming power crisis, cedi depreciation and dollar gift saga

This Saturday on Newsfile, host Samson Lardy Anyenini will lead a discussion. The topic is the potential power crisis in Ghana. This crisis was announced by Minister John Jinapor.

The Minister expressed concerns about the situation. He revealed that Ghana has less than three days' worth of liquid fuel for power plants.

During a session with the Parliamentary Committee on Energy, Jinapor stated that billions of cedis are needed urgently. This funding is necessary to keep the power plants running. Without it, Ghana risks a nationwide power shutdown.

Jinapor also mentioned that Ghana owes over $1.7 billion to Independent Power Producers (IPPs). An immediate $1.1 billion is required to secure enough liquid fuel for generation. Karpower, a major producer, has threatened to shut down if debts remain unpaid.

In other news, this week saw the cedi appreciate against the US dollar. GUTA urged traders to reflect these currency gains in their prices.

However, many traders are hesitant to lower prices. They cite concerns about whether these currency gains will last.

The Ministry of Trade and trade associations have made an agreement. If the cedi continues its positive trend, they will reduce finished goods prices significantly within two months.

Additionally, Sammy Gyamfi from the Ghana Gold Board faced backlash this week. He gifted an undisclosed amount of U.S. dollars to Evangelist Nana Agradaa. Many viewed this as inappropriate given current economic struggles.

His actions led to public criticism and he later apologized. The Chief of Staff summoned him but no further action was taken beyond cautioning him.

The show will examine whether these developments indicate real progress or just temporary fixes.

Tune in to Newsfile this Saturday for insights on these important issues.

Newsfile airs live on JoyNews channel 421 on DSTV and 144 on GoTV from 9 am to noon on Saturdays.

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