Prince Kwabena Owusu (R) signing the contract

Accra Hearts have completed the signing of former Bibiani Gold Stars Striker Prince Kwabena Owusu on a two-year deal to bolster their attack.

The Phobians announced the signing of the player who they had been monitoring closely over the last months.

“We are delighted to announce the signing of striker Prince Kwabena Owusu, formerly of Bibiani Gold Stars. Welcome to the Phobia family,” Hearts wrote on their X account.

The signing is expected to add some fire power to Hearts attacks as the club looks to improve on its rebuild under the leadership of Mas-Ud Didi Dramani’s as the clubs hopes to mount a strong challenge for the Ghana Premier League title next season.

Meanwhile, the has also announced the signing of signing of Golden Kick’s promising young defender Baba Adamu on a two-year deal.

The 21-year-old centre-back, known for his resilience, composure, and commanding presence, is a left-footed gem who made waves with his exploits in the just ended football season.

His standout performances in the just-ended season, particularly in the MTN FA Cup campaign where he helped Golden Kick advance to the final against Asante Kotoko, caught the eye of many, including the technical handlers of the Phobians.

Speaking after sealing his move to one of Africa’s giant clubs and Ghana’s biggest football club, an emotional Baba Adamu shared what the deal meant to him.

“I grew up supporting the club. And to top it up, my father is a staunch Phobian. To me, joining this club is a dream come true, which i will forever cherish. I know the huge challenge here, but I am sure with the guidance I will receive here, I will be successful because that’s the big aim,” he said.

Professor Peter Quartey is Director of the Institute of Statistical, Social and Economic Research

Professor Peter Quartey, Director of the Institute of Statistical, Social and Economic Research (ISSER), has downplayed claims of a dollar shortage in Ghana, stating that the country’s formal banking system remains strong and well-supplied with foreign currency.

In an interview on Joy FM on Monday, July 21, 2025, he said that about 80% of foreign exchange transactions are still conducted through the banking sector, which, in his view, has sufficient resources to meet demand.

“There’s no shortage of forex if you follow the proper procedures. Once your documents are in order and you have an account, there’s no issue transferring money for imports,” he said.

Professor Quartey noted that most of the complaints stem from traders who prefer to deal in physical cash rather than use the formal banking system.

He stressed that this practice creates unnecessary complications and contributes to the false perception that forex is unavailable.

He specifically cited some members of the Ghana Union of Traders Association (GUTA), arguing that their preference for cash transactions without first depositing physical dollars is a key part of the problem.

“People want cash without having deposited cash, that’s not sustainable. We need to educate traders on using the formal systems available,” he stated.

His comments follow recent reports by traders of delays in transferring funds, sometimes even for amounts around $200,000, forcing them to resort to the black market, where exchange rates are significantly higher.

However, Professor Quartey expressed skepticism about these claims, noting that such complaints do not align with reports received from the banks.

DR/MA

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How Virtual Reality is enhancing business and customer experience

Parents should limit their children’s use of smartphones and social media, according to new research. A study released Monday found that using smartphones before age 13 could damage kids’ mental health.

Smartphone use by children younger than 13 was associated with suicidal thoughts, worse emotional regulation, lower self-worth and detachment from reality, especially among girls, according to the study, which was published in the Journal of the Human Development and Capabilities.

For every year before age 13 that a person acquired a smartphone, their mental health and well-being were likely to be lower, the study found.

That’s likely because the kids who used smartphones before turning 13 accessed social media more and experienced sleep disruptions, cyberbullying and negative family relationships, according to the study. The data is based on self-reports in a survey of nearly 2 million people in 163 countries.

The results were so stark that the researchers called for global restrictions to prevent children younger than 13 from using smartphones and social media.

“This calls for urgent action limiting access of children under 13 to smartphones as well as more nuanced regulation on the digital environment young people are exposed to,” said lead study author Tara Thiagarajan, founder and chief scientist of Sapien Labs, the nonprofit that runs the survey.

While previous research focused on how smartphone use is related to anxiety and depression, this survey looked at symptoms not commonly studied, including emotional regulation and self-worth, and found they are very significant, said Thiagarajan, who is based in Arlington, Virginia.

The results were self-reported, which means they weren’t independently verified by researchers. In addition, the study can’t pinpoint what types of smartphone use drove the results and can’t account for how they might change as technologies evolve, Thiagarajan said.

Hold off on social media until 16

Still, this research certainly has me convinced it’s a terrible idea to give kids smartphones before age 13. When I speak to parents in schools, parent groups and other community spaces, I suggest not letting kids use social media until age 16. Solid research out of the United Kingdom shows that using social media during puberty is associated with lower life-satisfaction a year later.

Social psychologist Jonathan Haidt also suggested waiting until age 16 to let kids use social media in his best-selling book “The Anxious Generation: How the Great Rewiring of Childhood Is Causing an Epidemic of Mental Illness.”

While it may seem near impossible to hold off this long, it won’t be if we talk to the parents of our kids’ friends and collectively agree not to allow our children to use social apps until this age.

In all of my talks across the country as an expert on how social media affects women and girls, I have yet to meet a single parent or guardian who has said they’re excited for their kid to use social media. Instead, they worry their kids will be deprived of social opportunities if they’re not on social media. That’s why getting the parents of their friends involved is the key.

The group Wait Until 8th has created a pledge parents can sign collectively promising not to let kids use smartphones until the end of eighth grade. Other groups have created similar pledges.

“Check to see if there is one in your community, and if not and it feels important to you, consider starting one,” said Melissa Greenberg, a clinical psychologist at Princeton Psychotherapy Center in New Jersey who was not involved in the study. “Even if people aren’t already talking about it, they may be relieved if you start the conversation.”

In addition, “parents could seek schools for their children with stronger policies around smartphones on campus” or push for better policies in their kids’ schools, Thiagarajan said.

But the researchers warned that parents can’t solve these problems individually without societal solutions. After all, even if I don’t allow my daughters to use social media before age 16 and convince their friends’ parents to do the same, that won’t stop them from being exposed to these apps by other kids on places like the school bus or after-school events.

That’s why parents “could also be a more active voice in the debates on regulation,” Thiagarajan said.

Check in with your kids
If you have already let your child use a smartphone before age 13 or are just worried about the results, “don’t panic,” Greenberg said.

“If you are concerned but don’t notice any of these symptoms in your child, you can still talk to them to let them know that some people struggle with anxiety, low self-worth and intense emotions,” she said. “You can let them know that there is help available should they ever need it, and you can invite them to come to you if they are ever struggling or need support.”

If you do notice these symptoms in your child, find a licensed professional who can help, she said.

It’s OK to make changes
What happens if your child already has a smartphone? “You may feel stuck when you read things like this because you feel like you can’t go back,” Greenberg said. That’s not true. “Don’t be afraid to change course if you feel like what you’ve already done isn’t working for your child or for your family,” she said.

Parents can think about options such as using parental controls, switching to a flip phone, or deleting apps or features, Greenberg said.

Of course, kids may not react pleasantly to such a change, but don’t let that stop you from acting if you think it would benefit them, she said.

Parents can use this script, Greenberg suggested: “When we first gave you your smartphone, there were things we didn’t know about how it might impact you. There are a lot of scientists and doctors who are doing research on the effects smartphones are having on kids, and we’re learning a lot more than we knew before. We have to make some changes because we want to make sure that we’re doing the healthiest thing for you.”

If kids get upset, be sympathetic to their concerns, she said. “Adults don’t always respond in the most mature way when you take something away or ask them to change a habit, and we can’t expect that our kids will either,” Greenberg said.

She suggested parents talk about your own struggles to get your smartphone use right as a way of (literally) connecting and acknowledging that it’s difficult for all of us to resist their pull.

What can you do now that you know it could be quite dangerous to allow young kids to use smartphones? If your child doesn’t yet have one, start talking to other parents in your community to collectively agree not to let your kids get them until they’re older.

Keeping our kids away from smartphones could be one of the smartest decisions parents make.

Kara Alaimo is an associate professor of communication at Fairleigh Dickinson University. Her book “Over the Influence: Why Social Media Is Toxic for Women and Girls — And How We Can Take It Back” was published in 2024.

University issues August 9 eviction deadline

Students face academic disruption

By Erica Apeatua Addo 

Tarkwa (W/R), July 21, GNA –Women in Law and Development in Africa (WiLDAF- Ghana), a Non-Governmental Organisation, has organised a workshop aimed at address inequalities in the value chains of the mining, petroleum, and cocoa sectors, to enhance industry accountability and address regulatory gaps.  

The capacity building workshop which was funded by the Netherlands Ministry of Foreign Affairs through Oxfam-Ghana, formed one of WiLDAF-Ghana’s key activities under the “Fair4All project”.  

There would discuss the Affirmative Action and Gender Equity Act 2024, (Act 1121) and the United Nations Women’s Empowerment Principles (UNWEPs), which are the United Nation Guiding Principles (UNGPs).  

Participants included thirty community leaders, company representatives, women action groups, Civil Society Organisations, and State Access to Justice Agencies.  

Mr Billal Mallam Saani, the Monitoring, Evaluation, Research and Learning Manager of WiLDAF-Ghana, said over the past four years, they had engaged stakeholders and beneficiaries under the project to explore ways to bridge the gaps in the extractive industry.  

He said they decided to engage them in a learning and sharing approach; to help identify some best practices and innovative solutions they were implementing in their respective communities to tackle gender inequalities in the industry.  

“The turnout at the workshop has been fantastic, with more women participating than men which aligns with our organisations values. The workshop has achieved its intended outcomes,” he added. 

Mr Saani entreated the participants to share the knowledge they have gained with their colleagues and communities, while those who represented their companies should brief their management on the relevant UN principles.  

He said through this, companies could adopt similar practices, fostering an environment where women would be fully empowered and engaged in the extractive industry.  

Dr Emefa Priscilla Amenyah Kove, a lecturer at the Department of Petroleum and Natural Gas Engineering at the University of Mines and Technology (UMaT), Tarkwa, applauded WiLDAF for the initiative to bring the key stakeholders together to share their concerns and collectively developed solutions that could benefit everyone.  

She was optimistic that the workshop would have a significant impact, not just on themselves but the institutions they represented.  

Facilitators at the workshop examined provisions that promoted women’s empowerment, bridged inequality gaps, and outlined consequences for companies and State institutions that failed to comply with the objectives of the Act. 

They said the Act had set specific targets, aiming for 30 per cent women representation in all fields by 2026 and increasing to 50 per cent by 2030. 

Again, they touched on the UN guiding principles on women and empowerment, an international treaty Ghana had signed on to promote women’s economic empowerment in the extractive industry.  

GNA 

Edited Justina Paaga/ Christabel Addo 

The National Investment Bank (NIB)

The National Investment Bank (NIB) has posted a profit before tax of GH¢74.38 million for the first six months of 2025, marking a significant turnaround amid ongoing government recapitalisation efforts.

This marks a strong recovery from the same period in 2024, when the bank recorded a loss of GH¢44.79 million.

Notably, this is the first time since 2016 that NIB has published its financial statements, a move the bank says reflects renewed operational efficiency, effective cost management, and a successful capital recovery strategy.

The bank also reported that customer deposits have increased to GH¢7.3 billion, while its Capital Adequacy Ratio (CAR) improved to 41.34%, significantly above the regulatory minimum.

NIB’s equity position also showed improvement, growing to GH¢892.27 million, effectively reversing its previous negative position. Total assets surged to GH¢8.55 billion, up from GH¢5.71 billion in June 2024, while net operating income rose to GH¢326.28 million.

The Managing Director of NIB, Dr Doliwura Zakaria, said the bank is firmly on a path of positive growth.

“This publication is a declaration of our readiness. It reflects not just our financial health, but the strength of our people, systems, and vision for the future. We are firmly on a growth trajectory,” he noted.

He explained that the release of the financial statements is a strategic step in NIB’s transformation journey, intended to demonstrate renewed stakeholder confidence and full compliance with regulatory expectations under the Companies Act, 2019 (Act 992), and the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930).

NIB’s Head of Marketing and Corporate Communications, Marian Toure, added, “This disclosure reaffirms our commitment to accountability and signals a new era of transparency and responsible banking. We look forward to engaging stakeholders, partners, and customers in this revitalised phase of growth.”

SSD/MA

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