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ECOWAS finally adopts ECO as single currency

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Beginning in January 2020, countries within the West African sub-region will be able to use a single currency called ECO.

The currency was adopted by the Authority of ECOWAS Heads of State and Government on Saturday in Nigeria’s capital Abuja.

The West African leaders endorsed the currency at their 55th Ordinary Session and approved a road map towards the currency’s issuance in January 2020.

There was a roadmap to ensure that all member countries meet three primary criteria for the adoption of the currency.

Criteria for adoption
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That includes member countries having a budget deficit of not more than 3%; average annual inflation of less than 10% with a long-term goal of not more than 5% by 2019.

Countries were expected to also have gross reserves that can finance at least three months of imports.

The other convergence criteria that have been adopted by ECOWAS are public debt or Gross Domestic Product of not more than 70%.

There is also the issue of central banks financing budget deficit not more than 10% of previous year’s tax revenue, and nominal exchange rate variation of plus or minus 10%.

At the end of the Abuja meeting, a communiqué read by Nigeria’s Permanent Secretary, Ministry of Foreign Affairs, Mustapha Suleiman noted that the regional leaders instructed the ECOWAS Commission to work in collaboration with West African Monetary Agency.
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The commission is also expected to work with West African Monetary Institute and all central banks to settle on a symbol for the single currency.

Significant progress

The ECOWAS Chairman President Issoufou Mahamadou has said that the revised roadmap does not affect the date for the issuance of the single currency in January 2020.

Speaking about the deadline for adoption Mahamadou said “We have not changed that but we will continue with assessment between now and then.

“We are of the view that countries that are ready will launch the single currency and countries that are not yet ready will join the programme as they comply with all six convergence criteria.”
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ECOWAS has a combined population of 385 million and was set up in 1975.

It comprises Benin, Burkina Faso, Cape Verde, Gambia, Ghana, Guinea, Guinea-Bissau, Ivory Coast, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone and Togo.

Eight of these countries use one currency called the CFA franc. Those are Benin, Burkina Faso, Guinea-Bissau, Ivory Coast, Mali, Niger, Senegal and Togo.

The current decision to adopt one currency is similar to the move made by the European Union to adopt a single currency called Euro.
Source: Africafeeds

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Meet ken kojo Adams, the young ghanaian whose paintings can make you go hungry

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Food as we all know is any nutritious substance that people or animals eat or drink in order to maintain life and growth.

I was sitting under a big mango tree one hot Saturday afternoon reminiscing on how granny used to force me just to eat from her kitchen when I used to stay with her in the village. A series of questions which I couldn’t get answers to kept running through my mind; why have we abandoned granny’s kitchen and going after fast food.

Food does more than fuelling and restoring the body with energy. According to study, some individuals going through depression recover quickly after taking in a very good meal, the satisfaction alone brings back some memories hence food being a solution to some of our psychological problems.

At the moment food is very prestigious and you can testify to the fact that food makes us keep some people in our memories and I can honestly say, I haven’t enjoyed groundnut soap for the past four years after i lost my mom, it’s very unfortunate that we are forgoing our culture in the name of technological advances and the acceptance of others culture. My people, we have to reclaim our tradition.

Culture is also influenced by food through various ways such as tradition, religion and family. This aspects are what makes us distinct from others and created a whole new society.

There are variety of food which represents the various ethnic groups in Ghana, and this is another rich culture we have to protect for the benefit of the future generations.

Gone are the days when we cherish our local foods but now we only take selfies with round open pie made with yeast dough and topped with tomato sauce, cheese, and a variety of other ingredients and we call that strength living, LOL, what made you forget about the fresh kontomire leaves with your fresh plantain or cocoyam….our generation has lost it we choosing weakness over strength.

This is the time to promote your own.

Let’s talk about “Banku”, I’m sorry wetting your appetite.

Banku is a Ghanaian dish which is cooked by a proportionate mixture of fermented corn and cassava dough in hot water into a smooth, whitish paste, served with soup, stew or a pepper sauce with fish. It is mostly preferred by the people of the Southern Regions of Ghana; the Ewe tribe of the Volta Region, the Fante and the Ga tribe but also eaten across the other regions in Ghana. Banku is found throughout Ghana, and is one of the staple foods enjoyed by all tribes in the country.

I feel that sharp pain in my heart whenever I remember some of the pioneers of this mouth watering meal files a letter of departure from Ghana. Could this be possible?, are we also going to say bye bye to the meal because they are the originators, this will probably lead to segregation which isn’t good and that’s why I suggest, just as banku and its captivating green accompaniment has been recognized and adapted by almost every ethnic group in Ghana, so should we know that we are one people and there is a common culture that holds us together.

No two ways about this, ‘banku’ is the most commonest meal every Ghanaian might have tasted, we enjoy that and have the originators in mind. Refusing to correct what is wrong is what makes it a mistake. Let love lead, Ghana.

Oh less I forget!
what’s your thought on left over Banku 😋.

Left over banku lasts for up to a week, and some prefer to keep it longer than that because the fermentation process gives it more flavour and taste if stored properly. I dare you to try that.

The best feeling is when grand mom gives you your favorite.

Below are paintings from the young artist.

Story by Ken Kojo Adams

@kenkojoadams
#madeinghana
#ghanafood1

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Young blogger UrsTruly Praiz launches the Ghana Unite Campaign ahead of 2020 elections

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Elections both presidential and parliamentary as well as on any other level is one basic characteristic of every democratic nation on earth and it is just another form of exercise that gives the general masses with legitimacy in voting to make Choices and decisions as to whom they deem potential enough to hold the mantle of rule.

Amidst Ghana’s preparations towards December 7th general elections dubbed the very 8th one since time in memorial, much has been said and done thereby leaving some with joy but others in great fear and suspense.

Well, we at PraizFame Media Africa Inc, the owners of wwww.urstrulypraiznews.com regard this year’s elections as another very simple nationwide activity that should be conducted with so much peace and understanding void of fights,misunderstandings and forceful but illegal movements by anyone and for that reason comes the peace dubbed campaign “Ghana Unite”.

This very new development is one of the social media campaigns that has been set to promote peaceful atmosphere before and after the elections come December.

The masses acclaimed Ghana’s youngest blogger Emmanuel Quainoo Otoo professionally known as UrsTruly Praiz spearheads this very initiative and urges all Ghanaians to jump on this.

All one has to do is to share a 30 seconds video of him/herself urging Ghanaians to ensure peaceful atmosphere before and after the elections on WhatsApp number 0264770404

Let’s join hands and make this happen for Ghana is all that Ghanaians have.

Story: UrsTruly Praiz

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AWO KOMI BEAT COMPETITION TO EMERGE WINNER AT THE 40 UNDER 40 AWARDS 2020

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Awo Komi has emerged winner at the just ended Forty Under 40 Awards held on 25th September 2020 at the Kempinski Hotel, Accra.

The Forty Under 40 Awards had 40 categories and Awo Komi beat the competition to emerge the winner for the Food/Catering and Beverage category.

The Food/Catering and Beverages category had nominees like David Agongo Nsor (Dave Culinary and Event Firm), Dr. Nana Achiaa Ankrah ( Saliscom Limited, Arise Food), Sylvia Tweneboah Koduah( Noa ma me), Mariam Senou Mohammed ( Tasty Trails), and Benjamin Nii Amo ( Awo Komi).

Awo Komi is a food production company that produces special and delicious Ga kenkey in an appealing way. It has branches across Accra in areas such as at Okponglo, Legon, First Light Kaneshie all in Accra.

The Forty Under 40 Awards is usually organized in order to identify, honor, and celebrate a cross-section of the nation’s most influential and accomplished young business leaders under the age of forty from a wide range of industries.

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