TIG Post

Author: Amanda Cartey

  • Amin Adam urges GRA officials to prioritize staff welfare for revenue enhancement

    Amin Adam urges GRA officials to prioritize staff welfare for revenue enhancement

    The Finance Minister, Dr. Mohammed Amin Adam, has urged the Ghana Revenue Authority (GRA) to prioritize staff welfare as a means to enhance revenue collection efforts across the country.

    He delivered this directive during a meeting with officials of the Customs Division of the GRA at the Aflao border on Friday, May 10, 2024.

    In his remarks to the officials, Dr. Amin Adam underscored the crucial connection between staff welfare and revenue generation. He emphasized that fostering a supportive and conducive work environment is vital for boosting productivity and meeting revenue goals.

    “At the heart of revenue collection lies the welfare of our staff. Yes, we are here to collect revenue, but your welfare remains paramount. With improved staff welfare, we can boost morale and enhance productivity, ultimately leading to increased revenue collection,” the Minister said.

    In line with his dedication to enhancing staff welfare, Dr. Amin Adam instructed the Commissioner-General of the Ghana Revenue Authority (GRA) to guarantee the provision of essential logistics and resources for Customs officials.

    He emphasized that ensuring the availability of necessary resources and logistics, such as renovating staff accommodation, will cultivate an environment conducive to optimal performance.

    “With a focus on staff welfare, we can unleash the full potential of our workforce and drive revenue growth,” remarked Dr. Amin Adam.

    “Our staff are the backbone of revenue collection. By prioritizing their well-being and equipping them with the necessary tools, we can significantly improve our efficiency and effectiveness,” she said.


    During the meeting, Commissioner-General Julie Essiam took the chance to reassure the Minister of her department’s dedication to enhancing staff welfare and furnishing adequate logistics to bolster government revenue.

    She emphasized that providing personnel with up-to-date knowledge and skills in tax collection procedures, auditing techniques, and customer service would empower them to handle complex situations proficiently and serve taxpayers effectively. This, in turn, would position the GRA as a leading government agency in terms of efficiency.

  • ‘My new role as NIB MD will not affect my aspirations to become MP’ – Tweneboa Kodua Fokuo

    ‘My new role as NIB MD will not affect my aspirations to become MP’ – Tweneboa Kodua Fokuo

    The recently appointed Managing Director of the National Investment Bank, Mr. Tweneboa Kodua Fokuo, has stated that his new role does not pose a conflict with his parliamentary candidacy.

    Mr. Fokuo emerged victorious over four other contenders to secure the governing New Patriotic Party’s parliamentary nomination for the Manso Nkwanta Constituency in the Ashanti Region.

    Following his appointment by the Bank of Ghana to the position of NIB MD, concerns have been raised by the minority caucus and civil society.

    Hiwever, Mr Fokuo told Accra-based Joy News: “I do my work assiduously”, adding: “I have no challenge in ensuring that the bank is run properly”.

    He said: “There is not a single day that I have been outside the office that I am doing party work”.

    “If I will be outside the office, that is my leisure time”, he pointed out.

    He insisted: “I don’t see any challenge. It doesn’t conflict with my official work at the bank.”

  • Minister Jinapor applauds Atlantic lithium’s listing on Ghana Stock Exchange

    Minister Jinapor applauds Atlantic lithium’s listing on Ghana Stock Exchange

    Minister of Lands and Natural Resources, Samuel Abu Jinapor, lauds Atlantic Lithium’s shares listing on the Ghana Stock Exchange (GSE) as a significant milestone, marking a shift in Ghana’s mineral exploitation approach.

    Atlantic Lithium, overseeing the Ewoyaa project in the Central Region, officially debuted on the GSE by offering 649,669,053 shares on Monday.

    The company’s prospectus indicates a listing price of GHC 4.40 on the GSE, reflecting the valuation from the Primary Listing Market.

    Addressing the ceremony on May 13, Minister Jinapor stressed that Atlantic Lithium’s GSE presence aligns with the government’s strategic goal of localizing the mining sector and boosting value addition.

    He emphasized that the listing on the GSE fulfills a crucial stipulation laid out in the agreement between the government and the company, thereby securing Ghanaian ownership of the Ewoyaa Lithium project.

    The Minister also observed that the GSE listing illustrates the government’s commitment to placing Ghanaians at the forefront of the mining sector, particularly in the realm of large-scale mining.

    “This is to fulfill one of the very important commitment made by the brokers of the transaction reached between the government of Ghana and Atlantic Lithium and their subsidiary, Bavari DV. There have been a lot talks about how the mineral resources of Africa and Ghana has not benefitted the owners of the resources. The reason why it has so been because we’ve not been able to indigenize the sector and add value to the resources.

    “This is the first building blocks indigenizing the mining sector of our country, exploitation of green mineral resources and indigenizing what Atlantic Lithium is coming to do in Ghana. This is to make sure that Ghanaians have a stake in what they are coming to do here. It will mean that Ghanaians can participate in the project. It will ensure that Ghanaians can own share and become stakeholders of this mining establishment,” he said.

    According to Atlantic Lithium’s executive chairman Neil Herbert, his company’s choice to list on the Ghana Stock Exchange demonstrates its dedication to supporting Ghana’s efforts in the battle against climate change.

    He said “We believe that the company’s listing on the GSE is a true reflection of Ghana’s commitment to playing its part is the fight against climate change by sanctioning long-term lithium production”.

    The chief executive officer of the Minerals Commission, Martin Ayisi said “I’m excited that the next three years will witness significant event in Ghana with launching galore, started by Atlantic Lithium. This is a new chapter for us and it is one of the cardinal policies of government.”

    Abena Amoah, GSE’s managing director, recognized the vital contributions of individuals and organizations such as the Minerals Commission, Ministry of Lands and Natural Resources, Chamber of Mines, and the Minerals Income Investment Fund (MIIF) for their involvement in facilitating the realization of the agreement.

  • Kamgbunli farmers urge govt to establish tomato processing factory in Western Region

    Kamgbunli farmers urge govt to establish tomato processing factory in Western Region

    The Tomato Farmers Association in Kamgbunli located in the Western Region, has urged the government to establish a tomato processing factory in the region.

    Highlighting the growing significance of tomatoes alongside cocoa and rubber in Kamgbunli, the Association pointed out the challenges posed by the perishable nature of tomatoes, hindering farmers from maximizing their yield.

    During a media tour of the tomato farms at Old Kamgbunli, Mr. Shaibu Issa, Secretary of the Tomato Farmers Association’s Steering Committee, disclosed that a considerable portion of the harvest is wasted due to the lack of a reliable market.

    He detailed that farmers are organized into four groups, each allotted specific days for harvesting ripe tomatoes, and stressed the potential of a local factory to facilitate bulk supply for processing.

    Mr. Issa underscored the positive impact of tomato farming on the community’s livelihoods, particularly for women, while emphasizing the obstacle of poor road access hindering transportation to market centers.

    He appealed to the government, philanthropists, and investors to provide support to the farmers and promote tomato farming in the region.

    Commenting on the state of agriculture in Kamgbunli, Developmental Chief Mr. Ali Nuhu Abeka lamented the waste of tomatoes due to market and storage challenges, which could potentially lead farmers to abandon agriculture as their primary source of income.

    He stressed the critical need for a processing facility to enhance agricultural profitability, especially considering the neglect of over 80 acres of inland valley rice fields by successive governments.

    With a population of 5,000, about 700 residents are actively involved in organic tomato farming.

    Local tomato farmer Madam Mariama Osman reflected on the community’s history of unsuccessful rice farming by ancestors.

    “We’ve turned to tomato farming because it’s profitable and supports our children’s education,” she said, adding that nematodes are a significant threat to tomato production.

    Kamgbunli Assembly Member Dauda Musah said he and the committee are coming up with plans to get outside help.

  • Advanced version of Chat-GPT capable of teaching maths, language translation and flirting

    Advanced version of Chat-GPT capable of teaching maths, language translation and flirting

    OpenAI has introduced the latest iteration of the technology powering its AI chatbot ChatGPT.

    Dubbed GPT-4o, this version will be made available to all ChatGPT users, including those who are not subscribers.

    GPT-4o boasts improved speed compared to its predecessors and has been designed to offer more conversational and even flirtatious responses to prompts.

    Additionally, this new version is equipped with the ability to analyze and discuss images, translate languages, and recognize emotions based on visual cues. It also features a memory function, enabling it to recall previous prompts.

    Moreover, GPT-4o exhibits a smoother conversational flow, with minimal delay between questions and responses, and it can be interrupted during interactions.

    Glitches

    In a live demonstration featuring the voice version of GPT-4o, the AI provided useful guidance on approaching the solution of a basic equation written on paper, rather than simply delivering the answer. It also analyzed computer code, facilitating translation between Italian and English, and interpreted emotions in a selfie of a smiling man.

    Delivered in a friendly American female voice, GPT-4o greeted its users by inquiring about their well-being. Upon receiving a compliment, its response was: “Stop it, you’re making me blush!”.

    It exhibited imperfections – at one instance, it mistook the smiling man for a wooden surface, and it attempted to solve an equation it hadn’t been presented with yet. This inadvertently underscored that there’s still progress needed to address glitches and hallucinations that render chatbots unreliable and potentially risky.

    However, what it does indicate is the trajectory for OpenAI, which seems to envision GPT-4o as the next evolution of AI digital assistants, akin to a highly advanced Siri or Hey, Google that retains memory of past interactions and can engage beyond voice or text.

    If there was a looming concern, amidst the enthusiastic off-camera audience cheering and applause, it was the environmental footprint of this technology.

    We’re aware that AI demands more power than traditional computing tasks, and as it becomes more intricate, its computational demands increase. Sustainability was conspicuously absent from the discussion during the event.

    Demystify

    We’ve witnessed chatbots such as Elon Musk’s Grok and Pi, developed by DeepMind co-founder Mustafa Suleyman, prioritize the “personality” of their offerings. However, the seamless integration of text, audio, and images with instant responses showcased by GPT-4o appears to position OpenAI at the forefront of the competition.

    Nevertheless, at this juncture, we solely rely on the company’s assurances – it was their demonstration, meticulously crafted and orchestrated by them. It will be intriguing to observe how GPT-4o handles the influx of users as it is rolled out on a larger scale, especially among the millions who already utilize ChatGPT.

    OpenAI’s Chief Technology Officer, Mira Murati, described GPT-4o as  “magical” but added that the firm would “remove that mysticism” with the product’s roll-out.

    A captivating and evocative selection of words: although this technology is swiftly advancing in sophistication and becoming more persuasive as a companion, it remains devoid of sentience or magical properties; it is the result of intricate programming and machine learning.

    Speculations have surfaced regarding a potential collaboration between OpenAI and Apple, although this has yet to be officially confirmed. However, it was notable during the demonstration that Apple products were prominently featured.

    Furthermore, the timing of this event, occurring just 24 hours prior to its competitor Google’s annual conference, Google IO, serves as a strategic maneuver and indicates a subtle challenge from OpenAI.

  • My comment on incentivizing churches was a joke – Bawumia

    My comment on incentivizing churches was a joke – Bawumia

    The flagbearer of the New Patriotic Party (NPP), Dr. Mahamudu Bawumia, has offered clarification regarding his statement concerning incentivizing churches rather than imposing taxes on them.

    He emphasized that his remark was made in jest and had been misconstrued out of context.

    Addressing clergy members during a meeting in the North East Region as part of his nationwide tour, the Vice President elaborated that his comments may have been misinterpreted.

    “I made that statement within the context of acknowledging the significant contributions of churches and other faith-based institutions to the country, including the construction of schools, hospitals, and other vital infrastructure,” Dr. Bawumia explained.

    “Look at the number of hospitals the churches have built. Look at the number of universities the churches have built and faith-based organisations have built. Look at the number of people the churches and faith-based organizations take care of on a daily basis.

    “Can you imagine, just take a thought for a moment that you wake up tomorrow and all the schools, universities and hospitals the churches have built disappear? They just disappear. How would Ghana be like? Ghana will collapse. Isn’t it? We will not survive in this sort of situation because there will be chaos.

    “So at that point I was joking and I said, oh…people are talking about taxing churches. I don’t believe, and we will not tax churches. Because if you look at the work the churches have done, then I was joking then, maybe we should have actually paid them for what they did, not really trying to tax them. But I wasn’t really saying we should pay churches, no. I am saying that we should give incentives to churches to do more,” he clarified.

    Dr. Bawumia initially made these remarks during a meeting with clergy members in the Bono East region on May 10, highlighting the importance of collaborating with churches for national development.

    The Vice President said, “Unless you don’t understand the work the church has done. If you are looking at the buildings, the way they keep the society together, the universities, the hospitals, the schools, it is massive. It is just massive. Many churches have hundreds of schools. So I don’t see and I will not have a situation where we are taxing churches.

    “We will rather want to give churches incentives to support what the government is doing. I want us to be partners in the way that the development partners are with us. You are our domestic development partners and we will give you incentives to do more.”

  • Haruna Iddrisu allegedly involved in taking bribe from a South Africa business

    Haruna Iddrisu allegedly involved in taking bribe from a South Africa business

    A prominent news portal in South Africa, News24, has released a report alleging that an indigenous company involved in projects in Ghana paid bribes to high-ranking politicians.

    Specifically, the report implicates Tamale South Member of Parliament, Haruna Iddrisu, who is alleged to have received bribes exceeding US$2.5 million (47 million rands).

    The investigative report by News24 focuses on the activities of siblings Rushil and Nishani Singh, who operated the Ghana Infrastructure Company (GIC) from 2017 to 2022.

    Segments of the report detail how various sums of money were transferred to Haruna through intermediaries and, in some instances, provided financial backing for projects associated with him.

    “Between 2015 and 2020, Nishani Singh used several methods to pay Idrissu directly, or to others at his request or for his benefit, at least R47 million.

    “The majority of the money was paid directly from GIC’s account to various suppliers, or to GIC’s director in Ghana, Asumah Dokurugu,” the report said adding that the amount was exclusive of “amounts paid for several overseas trips to London and at least one trip to Indonesia and South Africa.”

    The report also referenced a former MP for Ejisu, although it did not delve into specifics regarding how he gained from the alleged bribes.

    Kwabena Owusu Aduomi’s connection was primarily associated with certain road subcontracts awarded to GIC.

    “Aduomi is not a signatory to the contracts but in his capacity as deputy roads minister, he was in charge of the departments responsible for the administration of the bids — most of the deals were awarded on a sole source basis.

    “But it appears that Haruna was their main go-to person to secure contracts in the Ashanti Region, from where Aduomi hails, and in Tamale, Haruna’s constituency,” the report added.

    GhanaWeb is endeavoring to obtain a response to the allegation from the Tamale South lawmaker, who formerly served as Minority Leader in Parliament.

  • US Embassy in Tanzania shuts down due to internet outage

    US Embassy in Tanzania shuts down due to internet outage

    The closure of the US Embassy in Tanzania extends for two days due to an internet outage impacting multiple East African countries.

    “Due to degraded network service nationwide, the embassy will remain closed to the public,” the embassy said in a post on X (formerly Twitter) on Monday.

    All consular appointments scheduled for Tuesday and Wednesday have been canceled, with arrangements made to reschedule them for a later time.

    Nonetheless, the embassy will remain open for visa collections and to address emergency cases involving American citizens.

    Since Sunday morning, an internet outage has persisted, leading to poor connectivity in Tanzania, Kenya, Rwanda, and Uganda.

    According to metrics shared by the internet monitoring group NetBlocks on Monday, Tanzania has been particularly affected by the outage.

    The intermittent service disruption is attributed to faults in undersea cables linking the region to the global network via South Africa, explained industry expert Ben Roberts to the BBC.

    As of Monday, some East Africans were still encountering sluggish internet speeds, with certain telecom providers indicating that the issue had not yet been fully resolved.

  • Farmer in Ashanti Region found dead with gunshot wounds on pear tree

    Farmer in Ashanti Region found dead with gunshot wounds on pear tree

    In the Atwima Mponua District of the Ashanti Region, a farmer named Alhaji Malik was discovered deceased atop a pear tree.

    His body, bearing gunshot wounds to the head, was found on Sunday, May 12, 2024. It appears that Malik, who had set out to harvest pears for sale, met his untimely demise while on the job.

    His tricycle, commonly known as ‘aboboyaa,’ was found abandoned at the scene.

    Concerned family members launched a search when Malik failed to return home, only to discover his lifeless body on the tree with bloodstains nearby.

    Kofi Gyabaa, reporting on the incident for Nyankonton Mu Nsem on Rainbow Radio 87.5FM, shared these details.

    Following the discovery, the police were alerted, and an investigation has been initiated. Malik’s body has been released to his family for burial, adhering to Islamic customs. He leaves behind a wife and more than six children.

  • “Let’s abandon the cedi and adopt the dollar if we cannot maintain the cedi” – IEA’s Dr Kwakye proposes

    “Let’s abandon the cedi and adopt the dollar if we cannot maintain the cedi” – IEA’s Dr Kwakye proposes

    Director of Research at the Institute of Economic Affairs (IEA), Dr. John Kwabena Kwakye, has proposed the adoption of the dollar as Ghana’s currency as a means to stabilize the economy.

    “Stabilising the economy is not rocket science. If we feel we cannot maintain the Cedi, let us abandon it and adopt the dollar. Let us dollarise the economy,” he  said.

    During a discussion on an Accra-based television station last Saturday, Dr. Kwakye, who made the suggestion, emphasized that the dollarization of the economy should only serve as a temporary measure until it stabilizes. Following this, Ghana could then proceed to establish its own currency.

    “Dollarisation” is when a country begins to recognise the U.S. dollar as a medium of exchange or legal tender alongside or in place of its domestic currency.

    “Dollarisation normally occurs when the local currency has become unstable and begun to lose its usefulness as a medium of exchange for market transactions. 

    Advantages for countries adopting dollarization include reduced administrative costs, a solid foundation for a more stable financial sector, and decreased interest rates.

    Disadvantages encompass the loss of monetary independence, seigniorage, a significant national symbol, and heightened susceptibility to foreign influence.

    Dr. Kwakye additionally recommended the conversion of the Central Bank into a Currency Board as an alternative for economic stabilization.

    “Unfortunately, we are being driven by the IMF programme, so, there’s very little we can do. We are bound by their policy and breaching it will attract sanctions. 

    “If we were following and implementing the right policies, we would not have even been here in the first place,” he said. 

    He expressed dismay at the recent departure of several foreign companies from the nation, warning of dire consequences for the already struggling economy.

    Glovo, a versatile online delivery platform, announced in late April its decision to cease operations in Ghana effective May 10, 2024.

    Additionally, early May reports indicated that Société Générale (SG) Ghana, a French bank, was considering exiting the country’s banking sector.

    However, during the bank’s 44th Annual General Meeting in Accra, Managing Director Hakim Ouzzani refuted these claims, labeling them as “rumors” not originating from the bank itself.

    Dr. Kwakye remarked that these withdrawals indicated a loss of Ghana’s relative competitiveness, a challenge that would require considerable time to rectify.

    “The high operational costs will lead to these companies incurring losses. So, it is rational that they will want to relocate. If we can stabilise the economy under IMF, we may be able to attract more investors,” he said. 

    Mr Yaw Sampah, a Private Legal Practitioner and Finance Analyst, however, disagreed with Dr Kwakye’s suggestion to dollarise the economy. 

    He said the Government should develop policies that would “make the dollar useless in Ghana.” 

    The Finance Analyst said the speculative effect of why people sought dollar reserves should be “killed completely.” 

    “Why does a politician who owns a house in East Legon quote the amount in dollars? Why does a hotel need to price its services in dollars? Why does everyone have to price goods and services in dollars? he quizzed 

    “Government should make the dollar completely useless in Ghana except when backed strictly by international trade and transactions,” he said.

    In a currency board system, the domestic currency is tied to a foreign reserve currency, maintaining a rigidly fixed exchange rate.

    This system refrains from influencing monetary policy, functioning instead on the principles of supply and demand. It oversees currency issuance and offers fixed-rate conversions to the designated anchor currency.

    Dr. Kwakye voiced dissatisfaction with the government’s inclination to leverage the nation’s assets as loan collateral rather than exploring diverse alternative measures.

  • “I’m sorry I said things I shouldn’t have said because of pressure” – Benny Hinn apologizes

    “I’m sorry I said things I shouldn’t have said because of pressure” – Benny Hinn apologizes

    In the midst of controversy surrounding a recent four-hour video by Mike Winger, which highlights the past pitfalls of Benny Hinn’s ministry, Hinn has publicly addressed his previous ministry mishaps.

    “I’m a human being. I’ve made mistakes,” Hinn says.

    Hinn refrains from attributing blame to any specific party for the challenges he has faced, but acknowledges that external pressure played a significant role in influencing him as he developed his ministry.

    “I let pressure get to me. And because of that pressure, I said things and did things I should not have done. And for that, really, I am sorry,” Hinn says.

    Reflecting on his years in ministry, Hinn acknowledges experiencing both positive and negative aspects. He openly admits that his ministry has been flawed, recognizing years of trial and error. Now, having gained insights, he aims to share key lessons with others embarking on their own journeys in ministry.

    “Build a reservoir of the Word of God in your heart. So, when troubles come, you know where to go,” Hinn says.

    Hinn highlights Psalm 119 as a cornerstone for leading a righteous life. He underscores the transformative power of immersing oneself in the Bible, emphasizing that a deep understanding of God’s Word leads to profound changes in one’s life, furthering the mission of spreading the gospel.

    “The Bible is really clear in Psalm 119 because it talks about how does the Word of God, the Scriptures are so powerful, to help us live holy,” Hinn says.  

  • Chamber of Mines requests air transport to Boost Tarkwa’s mining hub

    Chamber of Mines requests air transport to Boost Tarkwa’s mining hub

    CEO of the Ghana Chamber of Mines, Sulemanu Koney, underscores the importance of air transport in Tarkwa, a crucial mining hub in Ghana’s economy, believing it will bolster local businesses.

    In an interview with Citi News, Koney advocates for discussions on elevating Tarkwa to a major city, akin to other prominent Ghanaian cities, proposing the introduction of multimodal transportation infrastructure, including air transport.

    Despite hosting major mining companies extracting gold, manganese, and other minerals, Tarkwa remains a typical town, prompting calls for its transformation into a true mining city.

    At the 20th Anniversary celebration of the Gold Fields Ghana Foundation in Tarkwa, Koney emphasized the need for serious discussions to transform Tarkwa into a genuine mining city.

    Discussing the mining industry’s impact, particularly the Gold Fields Ghana Foundation, Koney highlighted their role in facilitating development in areas beyond government reach.

    Abdel-Razak Yakubu, Executive Secretary of the Gold Fields Ghana Foundation, noted their commitment to enhancing the education sector, having invested over 100 million dollars in it.

  • Finance Minister outlines strategies for progress in Africa at Africa Prosperity Dialogue 2025


    Finance Minister Dr. Amin Adam has delineated several pivotal strategies closely harmonized with Ghana’s vision for a more interconnected and prosperous Africa, alongside the AU agenda 2063.

    Addressing attendees at the inauguration of the Africa Prosperity Dialogue 2025 in Accra on May 13, the finance minister emphasized Africa’s imperative to acknowledge that sustainable prosperity cannot be attained in isolation. Hence, continuous endeavors and collaboration are essential.

    He underscored the necessity to prioritize Adequate Infrastructure Development as a cornerstone, citing its critical role in impeding Africa’s economic advancement.

    “Africa’s infrastructure deficit impedes economic growth and development. Inadequate networks of road, rail, air, and waterways make transport costs in Africa among the highest in the world,” he stressed.

    The minister continued, “We must redouble our efforts to invest in critical infrastructure projects, including transportation, energy, and digital connectivity, to unlock Africa’s full potential for trade and investment.”

    “In truth, when we, as Africans, work together with a shared vision, we can overcome logistical barriers and unlock the full potential of regional integration, trade facilitation, and economic development.

    “I call on ECOWAS and the African Union to lead by example and spearhead initiatives to promote cross-border infrastructure investments and connectivity.” Ghana’s finance minister said.

    Dr. Amin Adam concluded by advocating for measures aimed at Strategic and Innovative Financing. He emphasized that traditional financing mechanisms may no longer be adequate to meet the escalating demands of rapidly expanding economies.

    “We must explore new avenues for mobilizing resources, including public-private partnerships (PPPs), green bonds, and leveraging digital technologies to enhance financial inclusion and access to capital. PPPs have proven to be effective mechanisms for leveraging private sector expertise,” he stated.

    The finance minister, in his concluding remarks, encouraged African governments to embrace PPPs as a viable solution to bridge the infrastructure gap and drive economic growth.

  • Nduom hints on a tour to revive GN bank

    Nduom hints on a tour to revive GN bank


    Global Chairman of Groupe Nduom, Dr. Paa Kwesi Nduom, is considering embarking on a nationwide tour aimed at advocating for the revival of the collapsed GN Bank.

    According to a social media post observed by GhanaWeb, Dr. Nduom indicated his intention to reconnect with the people, particularly the clients of GN Bank, to provide them with a detailed explanation of the events leading to the collapse of the bank.

    He wrote, “We owe it to a duty to explain to the people how our journey that started in 1997 was disrupted in 2019. GN Bank was one of the most liquid ones and served over a million people out of 300 locations. I am returning to the same towns, markets and locations to tell the people what has happened.”

    “We embarked on a tour of the country in 2018/19 to save Ghanaian banks and jobs. They didn’t mind us. They rather fanned the flames that led to a run on our indigenous Ghanaian banks. Which bank in the world can survive panic withdrawals and state-sponsored liquidity crisis.”

    Dr. Nduom asserts that the collapse of his bank was facilitated by state intervention, citing banking policies at the time that rendered it unfeasible for GN Bank and other Ghanaian banks to withstand the banking sector’s restructuring efforts.

    “We embarked on a tour of the country in 2018/19 to save Ghanaian banks and jobs. They didn’t mind us. They rather fanned the flames that led to a run on our indigenous Ghanaian banks. Which bank in the world can survive panic withdrawals and state-sponsored liquidity crisis.”

    In 2019, the Bank of Ghana revoked the licenses of 23 savings and loans companies and finance house companies, including GN Bank.

    Subsequently, GN Bank pursued legal action contesting the revocation of GN Savings and Loans’ license by the Bank of Ghana (BoG).

    However, in January 2024, an Accra High Court, under the jurisdiction of Justice Gifty Addo Adjei, affirmed the legality of the Central Bank’s decision. The ruling underscored the institution’s authority to revoke the license due to governance shortcomings that left GN Savings and Loans incapable of fulfilling its debt obligations.

  • It is always important to review the Labour Act -GAWU emphasizes

    It is always important to review the Labour Act -GAWU emphasizes

    The General Agricultural Workers Union (GAWU) has rejected assertions claiming that a review of the Labour Act is unnecessary.

    Edward Kareweh, the General Secretary of GAWU, responded to comments made by Labour Analyst Austin Gamey, who suggested that examining the current Labour Act and proposed changes by the technical committee were needless.

    Kareweh emphasized the significance of incorporating new provisions to align with contemporary standards and the needs of organized labor.

    “This act is a product of negotiation among employers, government, and labor. It’s also designed for use by ordinary people in the workplace. It aims to avoid technicalities, ensuring practitioners can easily understand the text and its intended meaning without different interpretations. Therefore, there’s an ongoing necessity to review the Labour Act,” explained Edward Kareweh in an interview with Citi News, as reported by GhanaWeb.

    He further elaborated, “The purpose of this act is to consolidate various labor laws into one framework. For instance, PNDC Law 187, which addresses workman compensation, is now incorporated into the new provisions, eliminating the need to reference separate laws.”

    Kareweh stressed that workplace dynamics have shifted, highlighting the imperative to modernize the Labour Act, which has remained unchanged for two decades, to mirror these transformations.

    “We’ve introduced new elements like addressing violence and harassment in the workplace. Moreover, considering the National Labour Commission’s longstanding presence, we’ve observed its associated weaknesses. Hence, it’s imperative to review and integrate these aspects into the act. After over 20 years of implementation, it’s essential to revise the Labour Act,” he stated.

  • Minerals Commission to present Ghana’s first lithium agreement to parliament

    Minerals Commission to present Ghana’s first lithium agreement to parliament


    The Minerals Commission is set to work with the Ministry of Lands and Natural Resources to present Ghana’s inaugural lithium agreement with Barari DV Ghana Limited to Parliament for ratification once it reconvenes after recess.

    Although the sector minister previously indicated that the agreement would be ratified in the first quarter of 2024, the Minerals Commission is proceeding with its plans.

    Last year, Minister for Lands and Natural Resources, Samuel Abu Jinapor, hinted at submitting the agreement to Parliament by the first quarter of 2024, emphasizing the need for Cabinet approval before parliamentary submission in response to calls for legislative scrutiny.

    However, as the second quarter of 2024 begins, there are no signs that the scrutinized agreement has reached Parliament, as reiterated by the Minerals Commission.

    Additionally, Barari Limited, a subsidiary of Atlantic Lithium Limited, is scheduled to list on the Ghana Stock Exchange on May 13, 2024, representing a significant milestone in Ghana’s lithium industry.

    Martin Ayisi, the Chief Executive Officer of the Commission, announced at a Minerals and Mining Policy dialogue in Aburi that Barari DV Ghana Limited is expected to receive environmental permits and other key approvals by July 2024.

    The pending parliamentary ratification and Barari DV Ghana Limited’s listing on the GSE highlight the growing importance of lithium in the country’s minerals and mining sector.

    In response, Nafi Chinery, Africa Director of NRGI, commended the minister and MinCom CEO’s transparency but urged caution, citing past instances of slow government implementation despite extensive engagement with civil society and the media.

    “What remains for us, as civil society, is really to increase our oversight of the process and hold these high public figures accountable. So, for example, this is why at the end of this engagement that we are having, we agree on a formal memo that will be presented to the minister and the Minerals Commission as the regulators. And then we follow up and see how these are going to be included in the final version of the minerals policy and give ourselves timelines. If we do not see any action or traction on the finalization of the minerals policy by those timelines, then we take our next step,” she stated.

  • Watch American star Stevie Wonder skillfully play a conga drum at the airport soon after he arrives in Ghana

    Watch American star Stevie Wonder skillfully play a conga drum at the airport soon after he arrives in Ghana

    American star Stevie Wonder delighted onlookers as he skillfully played a conga drum at the airport upon his arrival in Ghana.

    Individuals who were present in the area were captivated by the impromptu performance from the legendary musician.

    Wonder’s rhythmic beats echoed through the terminal, spreading a sense of joy and excitement.

    His spontaneous act showcased not only his musical prowess but also his infectious energy and passion for music.

    It was a memorable moment for all fortunate enough to witness the iconic artist’s spontaneous display of talent a way of welcoming him to Ghana

  • Popular American singer Stevie Wonder is now a Ghanaian

    Popular American singer Stevie Wonder is now a Ghanaian


    Renowned American singer-songwriter Stevie Wonder has officially become a Ghanaian citizen after taking the Oath of Allegiance and receiving his Certificate of Citizenship.

    The ceremony, which occurred on Monday, May 13, at the Jubilee House, Ghana’s seat of government, marked his formal integration into Ghanaian society.

    Kow Essuman, the legal counsel to President Akufo-Addo, extended congratulations to the celebrated musician for embracing Ghanaian citizenship in a social media post.

    “Stevie Wonder is officially Ghanaian. He has just taken the Oath of Allegiance and received the Certificate of Citizenship by Registration at Jubilee House. Congratulations, Sir and welcome to Ghana,” he posted.

    Interestingly, Stevie Wonder is also celebrating his 74th birthday today, as he was born on Saturday, May 13, 1950. Stevie Wonder, originally named Stevland Hardaway Morris, is globally recognized as a versatile artist, acclaimed for his talents as a singer-songwriter, musician, and record producer.

    His impact extends across diverse music genres such as R&B, pop, soul, gospel, funk, and jazz, establishing him as a trailblazer in the music industry.

  • UK-based blogger Dorcas Adeyinka wanted by Nigerian police over crime allegations

    UK-based blogger Dorcas Adeyinka wanted by Nigerian police over crime allegations

    Nigerian Police seek UK-Based blogger in Cyber-Stalking, Abduction, and Murder Case

    A wanted poster from the Nigeria Police Force has linked Dorcas Adeyinka to cyber-stalking, abduction, murder, injurious falsehood, threats to life, and extortion.

    No further details have been provided on the case, and Adeyinka has yet to comment.

    The poster instructs that if spotted, Adeyinka should be apprehended and taken to the nearest police station.

    Police have offered a reward for information leading to her arrest.

    Described as a married Yoruba blogger residing in the UK but frequently visiting Nigeria, Adeyinka remains at large.

  • Lands Minister urges increased forest finance to save the planet at UN forum

    Lands Minister urges increased forest finance to save the planet at UN forum


    The Minister for Lands and Natural Resources, Samuel A. Jinapor, has urged global leaders to increase funding for forest conservation efforts to address the interconnected challenges of climate change, pollution, and biodiversity loss.

    Addressing the 19th Session of the United Nations Forum on Forests (UNFF19) at the UN Headquarters in New York, the Minister emphasized the crucial role of forests in addressing these pressing environmental issues.

    He stressed the need to reevaluate forest financing mechanisms to mobilize investments towards achieving international goals on forests, climate change, and biodiversity.

    Established in 2000 as a functional commission of the United Nations Economic and Social Council (ECOSOC), the UNFF aims to promote the sustainable management, conservation, and development of all forest types worldwide. Comprising all UN Member States, the Forum convenes annually to review progress, adopt decisions, and make commitments towards its objectives.

    The ongoing nineteenth session of the Forum, which commenced on May 6, 2024, includes a mid-term review of the implementation of the International Arrangements on Forests. On Thursday, May 9, the Forum conducted its High-Level Ministerial Segment and forest partnership dialogue focused on the theme, “Forest-based solutions to the triple planetary crises: A focus on people, science and technology.”

    In his address to the Forum, Mr. Jinapor expressed grave concern over the persistent degradation of global forests, despite growing awareness of environmental issues and the significant role forests play in addressing them.

    Citing data from the World Resources Institute, he highlighted that tropical primary forest loss in 2023 amounted to 3.7 million hectares, resulting in 2.4 gigatonnes of carbon dioxide emissions. Additionally, an estimated $393 billion annually is needed to safeguard the world’s forests.

    Mr. Jinapor emphasized the urgent need for coordinated action by world leaders to protect forests, safeguard the planet, and ensure the well-being of the 1.6 billion people who rely on forest resources for their livelihoods.

    He outlined Ghana’s efforts under President Akufo-Addo’s leadership to promote forest conservation, including initiatives such as the Ghana Forest Plantation Strategy, the Green Ghana Project, and the Ghana REDD+ Strategy.

    Highlighting the challenges faced by developing countries, which host 45% of global forests, Mr. Jinapor underscored the financial constraints hindering effective forest protection and conservation efforts. Despite these challenges, Ghana remains committed to sustainable forest management, allocating limited resources to prioritize forest preservation.

    The Minister expressed frustration over the ongoing failure of developed nations to fulfill their promises of assisting developing countries in sustainable forest management. He highlighted this lack of commitment, noting that it is further evidenced by the inconsistency in carbon pricing.

    “Why should the price of carbon in Europe, for example, be different from Africa, or in the Americas be different from Asia?”, the Minister quizzed.

  • Kenyans enraged over plans to introduce new taxes and increase existing ones

    Kenyans enraged over plans to introduce new taxes and increase existing ones


    Plans to introduce new taxes and increase existing ones have sparked widespread criticism in Kenya.

    The price of bread is expected to rise following the national treasury’s proposal to remove the staple product from the value-added tax (VAT) exemption list.

    Additionally, the costs of mobile money transfers, airtime, and data are set to increase as the government aims to raise an additional $2.4 billion (£2 billion) in taxes for the financial year starting in July.

    Published on Saturday, the 2024 Finance Bill also includes a proposal for a new motor vehicle tax that could see drivers paying up to $750 (£600) annually to keep their vehicles on the road.

    These tax hikes are part of a series of financial measures introduced by President William Ruto’s government to fund extensive infrastructure and social programs.

    The move has drawn sharp criticism, with politicians and human rights activists describing the taxes as “burdensome.”

    The opposition has threatened to organize protests nationwide if the government proceeds with the new tax measures.

    Last year, despite widespread objection from some Kenyans, the government introduced several taxes, including a controversial housing levy.

  • Chad’s interim Prime Minister challenges presidential election results

    Chad’s interim Prime Minister challenges presidential election results


    Chad’s interim Prime Minister, Succès Masra, has submitted a petition to the Constitutional Council disputing the initial outcomes of the recent presidential election.

    Despite General Mahamat Déby being announced as the winner with 61% of the vote, Mr. Masra asserts himself as the rightful victor.

    “With the help of our lawyers, today we submitted a request to the Constitutional Council to reveal the truth of the ballot boxes,” Mr Masra announced in a social media post on Sunday.

    The opposition leader and his party, the Transformers, have called for the nullification of the results, claiming that certain ballot boxes were tampered with and others were relocated by soldiers for counting elsewhere.

    According to the party, several opposition members have been detained, and Mr. Masra along with his supporters have faced threats.

    However, Mr Masra reiterated that his followers remain “peaceful for the love of our country”, insisting that “the change you want to see cannot happen in a destroyed country”.

    Shortly before the announcement of the election results, Mr. Masra called on his supporters to mobilize for peaceful demonstrations to defend their votes.

    The Constitutional Council is expected to make a decision in the coming days regarding whether to uphold the preliminary results or annul them, as requested by Mr. Masra and another candidate, Yacine Abdramane Sakine, who lost the election.

    Although the council has not yet confirmed Mr. Déby as Chad’s new president, some heads of state, such as Nigeria’s Bola Tinubu and Guinea Bissau’s Umaro Sissoco Embalo, have already congratulated the military leader.

  • Kenyans express concern over reopening of schools, amid persistent rains

    Kenyans express concern over reopening of schools, amid persistent rains

    Following a delay caused by devastating floods, the reopening of numerous schools in Kenya is now in progress.

    To ensure the safe arrival of students, police and transport officials have been deployed.

    However, over 1,600 schools are unable to reopen yet due to ongoing floods, as confirmed by authorities.

    Expressing concern over student safety, Muslim leaders have urged for close monitoring of the situation.

    They are also calling on drivers to exercise vigilance on flood-affected roads.

    The floods have caused extensive damage to several schools, contributing to a death toll of over 250 people across Kenya.

    Originally scheduled to open on 29 April, the new term start was delayed due to the severe flooding.

  • Death toll in South African building collapse rises to 24

    Death toll in South African building collapse rises to 24

    The death toll from a building collapse in South Africa’s city of George has risen to 24, with 28 people still trapped under the rubble.

    Efforts are ongoing to rescue and recover those trapped, including 19-year-old Florence Kawunga, a cleaner at the site.

    81 people were inside the partially-constructed, five-storey building when it collapsed.

    Of the 29 survivors rescued, 13 remain hospitalized.

    The cause of the collapse is under investigation.

    Rescue efforts involve 200 people, sniffer dogs, and heavy lifting equipment.

    Building Collapse in South Africa: Death Toll Reaches 24

  • Kidnapped students in Northern Nigeria successfully rescued by hunters

    Kidnapped students in Northern Nigeria successfully rescued by hunters


    A cohort of university students and additional individuals abducted in northern Nigeria were liberated on Sunday, officials confirmed.

    Assailants raided Confluence University of Science and Technology in Kogi state late Thursday night, abducting nine students.

    The captives were freed by local hunters and security personnel who engaged the kidnappers in a gun battle, according to Kogi’s information commissioner, Kingsley Femi Fanwo, who shared the update on the social media platform X.

    Mr. Fanwo further mentioned that the rescued abductees had been transported to a hospital for medical care.

    “Security agents are currently combing the forests to ensure all the kidnapped students are found and brought home safely,” he added.

    A surge in kidnapping incidents perpetrated by criminal gangs, commonly referred to as bandits, is being observed in Nigeria, particularly in the north-west region of the country.

    Hundreds of individuals have been abducted since the beginning of the year, with many of them subsequently released, often following the payment of ransom.

  • ‘Ensure that we generate revenue to support our development needs this year’ – Customs Division of GRA urged

    ‘Ensure that we generate revenue to support our development needs this year’ – Customs Division of GRA urged


    The Ghana Revenue Authority’s Customs Division has been entrusted with the crucial task of collecting necessary revenue, including taxes and duties, to meet the state’s developmental requirements.

    Dr. Mohammed Amin Adam, the Minister of Finance, emphasized that this was essential for the government to acquire the resources needed to address the growing demands for improved living standards and prosperity among Ghanaians.

    During a visit to the Aflao Sector Command accompanied by a high-powered delegation on Friday, he underscored the significance of Customs officers as pivotal stakeholders in the Ministry’s revenue mobilization efforts.

    He urged them to demonstrate dedication and diligence in achieving this year’s revenue target of GH¢146 billion, crucial for supporting the country’s development agenda.

    “This country cannot continue to borrow and borrow…  We must look within for the potential to generate revenue that will support our development needs this year… I see you as integral part of all the efforts I have to make to succeed as a minister,”Dr Amin Adam said.   

    “And to succeed as a minister means to be able to help Ghanaians meet their demands – the development needs of our people. That the roads our people need are constructed, electricity challenges resolved…” 

    “We need to mobilise resources because that will enable us to address these challenges. Therefore, I see you as partners.” 

    Dr. Adam praised the Aflao Sector for surpassing its revenue target over the past four years and encouraged sustained efforts to maintain this achievement in 2024.

    The Aflao sector comprises four primary stations: Akanu, Kpoglu, and Ave-Havi, along with a major checkpoint at Dabala Junction.

    “But we also know that revenue has not been doing well since the beginning of this year, but I do not blame you (Customs) because GRA has many divisions,” he said. 

    “Some divisions are doing well, some divisions are not doing well. But we should not get to a point where we point fingers. We should see ourselves as a whole… We fall together, we rise together. That should be the spirit to guide our relationship and our work.”   

    Madam Julie Essiam, the Commissioner General of the GRA, emphasized the significance of the Aflao Sector and Customs within the GRA structure. She outlined plans to prioritize staff welfare and provide necessary resources to improve revenue collection.

    Addressing the need for a revamped image of the GRA, she remarked, “Perception is people’s reality,” and committed to reshaping the organization’s approach from enforcement to collaboration and partnership with taxpayers.

    Brigadier General Ziblim Ayorrogo, Commissioner of the Customs Division, urged the Aflao Sector to surpass its revenue target to support the GRA and the ministry in achieving their overall revenue objectives.

    Assistant Commissioner Joseph Allan, Aflao Sector Commander, assured that while focusing on revenue mobilization, the sector would maintain its commitment to national security, particularly during this election year.

    Madam Julie Essiam, the Commissioner General of the GRA, emphasized the significance of the Aflao Sector and Customs within the GRA structure. She outlined plans to prioritize staff welfare and provide necessary resources to improve revenue collection.

    Addressing the need for a revamped image of the GRA, she remarked, “Perception is people’s reality,” and committed to reshaping the organization’s approach from enforcement to collaboration and partnership with taxpayers.

    Brigadier General Ziblim Ayorrogo, Commissioner of the Customs Division, urged the Aflao Sector to surpass its revenue target to support the GRA and the ministry in achieving their overall revenue objectives.

    Assistant Commissioner Joseph Allan, Aflao Sector Commander, assured that while focusing on revenue mobilization, the sector would maintain its commitment to national security, particularly during this election year.

    “Hon Minister, with 2024 being an election year, we the officers are poised to play our security roles to the best of our ability in order to have a very peaceful election.”   

     

  • Ghana launches short-term debt market amid restructuring efforts

    Ghana launches short-term debt market amid restructuring efforts

    Ghana has initiated a platform for trading short-term debt, which expands upon the fixed income market established over eight years ago.

    This development coincides with the country’s efforts to restructure debt to ensure sustainability under an International Monetary Fund program.

    The commercial paper market facilitates the buying and selling of debt, offering companies and organizations the opportunity to issue debt quickly and investors the chance to access improved creditworthiness, stated Abena Amoah, Managing Director of the Ghana Stock Exchange, in the capital city, Accra.

    “I’m excited to see the diverse business community here and I believe that this CP market we are launching today will provide you with viable solutions to meet some of your short-term financing needs,” Amoah said Friday.


    The commercial paper market has been present in Ghana for some time but has operated on a limited scale, characterized by low liquidity and minimal regulation.

    Its formal launch is intended to complement the fixed income market introduced in August 2015, which facilitates the trading of government and corporate bonds. This launch coincides with Ghana’s ongoing restructuring of its debt, valued at $43.6 billion, as part of conditions outlined in a $3 billion program with the IMF.

    Ghana, having completed a domestic debt restructuring last year and reached a preliminary agreement with bilateral lenders earlier this year, aims to finalize a comprehensive debt restructuring agreement on $13 billion with Eurobond investors by the end of May. An earlier agreement with bondholders was rejected by the IMF for failing to meet debt sustainability criteria.

    Companies seeking to issue on the market must possess a net worth of 5 million cedis ($357,485), according to Wilson Nelson, President of the Ghana Securities Industry Association. Additionally, they must be prepared to offer a minimum of 1 million cedis worth of instruments, with durations ranging from as short as 15 days to 275 days.

    “With the introduction of the commercial paper market in Ghana, the plan to diversify the investment space and investor base is now fully on course,” Ernest Addison, Governor of the Bank of Ghana said in a speech read on his behalf. “This diversification helps small and medium-scale enterprises and emerging businesses struggling to access the traditional financial channels.”

  • 3i Africa Summit starts today with 4000 participants from finance, technology, and policy makers

    3i Africa Summit starts today with 4000 participants from finance, technology, and policy makers


    Respected First Deputy Governor of the Bank of Ghana, Dr. Maxwell Opoku-Afari, is eagerly looking forward to the upcoming 3i Africa Summit, acknowledging its potential to stimulate digital economic growth across the continent.


    Under Dr. Opoku-Afari’s leadership, the pivotal summit underscores the importance of collaboration among stakeholders, emphasizing the potential for collective action to surmount challenges and drive the growth of the FinTech sector.

    The inaugural 3i Africa Summit spans three days, aiming to advance technology and digitalization in the financial industry to enhance inclusion.

    Organized by the Bank of Ghana and Development Bank Ghana, with support from Elevandi established by the Monetary Authority of Singapore, the event anticipates the participation of approximately 4,000 corporate executives from around 80 nations, scheduled from May 13 to May 15.

    The summit’s topic, “Unleashing Africa’s FinTech and Digital Economic Potential,” will centre on how long-term, sustainable capital allocation can change Africa’s economic environment.

    The event aims to provide a platform for policy discussions, international collaboration on intellectual resources, entrepreneurial endeavors, and investment networking. Additionally, the summit will explore topics such as artificial intelligence (AI), its applications in daily life, and ethical considerations regarding the protection of customer data.

    Catalyzing FinTech Growth and Regulatory Innovation

    In preparation for the summit, Dr. Opoku-Afari outlined the Bank of Ghana’s pivotal role in catalyzing FinTech growth and regulatory innovation. Emphasizing the institution’s commitment to fostering an environment conducive to innovation, he cited initiatives such as the regulatory sandbox and eCedi as crucial drivers of progress in the financial technology sector.

    Dr. Maxwell Opoku-Afari: A Beacon of Leadership in Ghana’s Financial Sector

    He delved into his illustrious career journey, leadership principles, and the pivotal role he plays in shaping Ghana’s financial landscape in a candid conversation with Business Insider Africa.

    Inspiration and Career Trajectory

    Dr. Opoku-Afari’s journey into economics and banking was spurred by a curiosity cultivated during his secondary school years. Reflecting on his academic path, he shared, “I was introduced to the subject of economics way back in secondary school and have never left it since then.” This initial spark led him to pursue a multidisciplinary approach, combining economics, statistics, and political science during his undergraduate studies. His academic pursuits culminated in a specialization in applied macroeconometrics during graduate studies, setting the stage for his impactful career in central banking.

    Guiding Principles in Leadership

    As the First Deputy Governor, Dr. Opoku-Afari emphasized the importance of evidence-based policymaking and talent development. He stated, “I am always guided by strong analytical and evidence-based policymaking.” Furthermore, he underscored his commitment to nurturing human capital within the Bank of Ghana, recognizing it as a cornerstone of organizational success.

    Navigating Challenges

    Dr. Opoku-Afari recounted a pivotal moment in his career—the revocation of bank licenses in Ghana. Despite the complexity of the task, he and his team successfully executed the initiative under the guidance of the Governor. He remarked, “Working as part of the Management team… tested all our skills… But under the guidance of the Governor, we were able to have a seamless exercise.”

    Contributions to Economic Advancement

    Dr. Opoku-Afari’s contributions to Ghana’s economy are multifaceted. He played a pivotal role in establishing the Ghana Integrated Payment and Settlement Systems (GHIPSS), revolutionizing the country’s payment landscape. He highlighted initiatives such as payment interoperability and digital innovation as key drivers of financial inclusion and economic growth.

    Profile: Maxwell Opoku-Afari, First Deputy Governor, Bank of Ghana

    Maxwell Opoku-Afari is a distinguished economist and policymaker with almost three decades of experience in central banking and international finance and has held senior positions at the International Monetary Fund (IMF) and the Bank of Ghana. He was appointed the First Deputy Governor of the Bank of Ghana on August 7, 2017, and currently serves in this role.

    Before he was appointed First Deputy Governor, Dr. Opoku-Afari worked in various positions at the International Monetary Fund (IMF) for nearly a decade, where he rose to the positions of Deputy Division Chief and Mission Chief. In this role, he led program negotiation missions and numerous Article IV consultations at the IMF.

    He was Mission Chief for São Tomé Príncipe and Mauritius and also worked in Rwanda, Zambia, and Jamaica during his time at the IMF.

    In addition, as the Deputy Division Chief in the Regional Studies Division in the African Department of the IMF, he led the production of the Regional Economic Outlook for sub-Saharan Africa, one of the IMF’s flagship publications. He also participated in IMF negotiations in several African and Caribbean countries and was a reviewer of policy documents for many developing nations during his time as a Senior Economist in the Strategy, Policy, and Review (SPR) Department of the IMF.

    Dr. Opoku-Afari’s work at the IMF focused on monetary policy modernization, macro-financial linkages, and debt restructuring. He also co-authored several IMF policy papers on these topics. He has also published extensively on monetary policy, inclusive growth, short-term output indicators in low-income countries, aid effectiveness, capital flows, and real exchange rate dynamics. And more recently, on the role of digitalization in supervision, fintech, innovation, and financial inclusion.

    Before his tenure at the IMF, Dr. Opoku-Afari worked for 13 years at the Bank of Ghana, where he rose to the position of Head of the Special Studies Division in the Research Department and later served as Special Assistant to the Governor. He was also a member of the Ghana Government’s Capital Markets Committee from 2006 to 2008 and played an integral part in the first Eurobond issuance by Ghana in 2007.

    Dr. Opoku-Afari holds a first degree in Economics and Statistics, an MPhil in Economics, both from the University of Ghana, Legon, and a PhD in Economics from the University of Nottingham in the United Kingdom. His expertise and leadership have been widely recognized, and he has received numerous awards and honours throughout his career.

    He is currently a Fellow (FGA) of the Ghana Academy of Arts and Sciences, an honorary fellow of the Chartered Institute of Bankers (CIB), the Institute of Directors, Ghana (IoD), and chairs the Advisory Board of the College of Humanities at the University of Ghana.

  • CP market opens up new horizons for investment opportunities

    CP market opens up new horizons for investment opportunities

    The Ghana Stock Exchange (GSE) has introduced its eagerly awaited commercial paper (CP) market, aiming to propel the financial markets into uncharted territory.

    For years, domestic investors have faced limited options, hampering their ability to diversify investment portfolios and effectively manage risk.

    However, the commercial paper market introduces a fresh avenue for investors to channel funds into short-term debt instruments.

    This development is particularly enticing for investors seeking relatively low-risk opportunities to generate returns while ensuring liquidity.

    It provides avenues for investment and financing.

    Speaking at the launch in Accra, GSE’s Managing Director Abena Amoah acknowledged the pressing need for change.

    “We need to do much more. Notably, attracting more issuers, diversifying products and boosting liquidity. This new CP market directly tackles these challenges.”

    One of the market’s key aspects is the mandate for ratings on CP issuances, enhancing transparency and credibility. This enables investors to make well-informed decisions grounded in thorough risk evaluations, bolstering confidence in their investment selections.

    The CP market presents businesses and corporations with a feasible alternative to conventional bank loans for fulfilling short-term financing requirements, with maturity periods spanning from 15 days to 270 days.

    The CP market operates within a structured framework that establishes clear regulations for issuance and trading. As per the guidelines, CPs necessitate an investment-grade rating from a credit rating agency. Issuers with ratings below investment grade must furnish acceptable credit enhancement. Additionally, CPs may be issued as securitized debt, such as asset-backed or mortgage-backed securities.

    Furthermore, the CP market’s formal framework outlines stringent criteria for issuers, including eligibility requirements. Ghana-incorporated public limited liability companies must possess a tangible net worth of at least GH¢5 million and demonstrate a proven track record of profitability or present a comprehensive plan showcasing their capacity to meet financial obligations.

    Additionally, issuers have the option to participate in a shelf registration program, enabling multiple CP issuances under a single registration. This streamlines the process and enhances efficiency.

    Ms. Amoah noted the strong corporate interest, stating: “We’ve had companies lining up to enter the market. Several Ghanaian companies have collectively issued GH¢275million in debt capital so far this year. And other companies plan to raise over GH¢1billion on our GFIM market this year”.

    Diversifying their sources of borrowing enables companies to diminish dependence on a single financing avenue, thereby reducing risk and bolstering financial resilience. This objective is in line with the broader aim of fostering a robust and resilient financial system in Ghana.

    Dr. Maxwell Opoku-Afari, First Deputy Governor of the Bank of Ghana and Chairman of the Governing Council of the Ghana Fixed Income Market, echoed this sentiment, lauding the initiative as “a significant milestone in the evolution of our financial markets and the economy at large.”

    With the launch of the CP market, investors now have access to an array of short-term debt instruments, facilitating portfolio diversification and capital generation in previously unexplored ways.

    Deborah Mawuse Agyemfra, Deputy Director-General of the Securities and Exchange Commission (SEC), stated: “For investors, commercial paper presents an exciting opportunity to diversify and boost returns”.

    She further underscored the SEC’s unwavering commitment, stating: “Establishing a formal framework for CP issuance and trading is a giant leap toward creating a robust market that meets diverse financing needs while offering attractive investment opportunities”.

  • Togbe Afede XIV disputes BoG’s justification for high monetary policy rate

    Togbe Afede XIV disputes BoG’s justification for high monetary policy rate

    The Agbogbomefia of the Asogli State, Togbe Afede XIV, has criticized the Bank of Ghana (BoG) for its decision to uphold a high monetary rate.

    He expressed skepticism about the justifications provided by the central bank for maintaining the recent high monetary policy.

    On March 25, 2024, the Monetary Policy Committee (MPC) of the Bank of Ghana opted to retain the policy rate at 29%, citing ongoing upward risks to inflation.

    In response, Togbe Afede asserted that the nation’s struggle to achieve and sustain low inflation is attributable to factors on the supply side rather than the demand side.

    “BOG’s ‘mopping up excess liquidity’ explanation for its high monetary policy rate is not convincing. ‘Excess liquidity’ presumes a certain optimal liquidity that has still not been defined. Secondly, supply-side rather than demand-side factors are at the root of our inability to achieve sustained low inflation.”

    “Thirdly, it is difficult to persuade people to save when they are struggling to make ends meet,” Togbe Afede explained.

    Togbe Afede, formerly a board member of the Central Bank of Ghana from 2003 to 2013, raised concerns about the International Monetary Fund’s (IMF) persistence with high-interest rates that have proven ineffective for Ghana over nearly two decades.

    “It is surprising, therefore, that the IMF insists on these high-interest rates that have not worked for us, the reason why we are engaging them for the seventeenth (17th) time!” he pointed out in a statement.

  • ‘BoG has built up enough reserves to tackle FX market headwinds’ – Governor

    ‘BoG has built up enough reserves to tackle FX market headwinds’ – Governor


    The Bank of Ghana (BoG) has taken steps to stabilize the forex markets, with Governor Dr. Ernest Addison providing assurance that the central bank has accumulated “sufficient reserves to address the challenges” that have impacted the cedi in recent weeks.

    During the launch of the new commercial paper market, Dr. Addison acknowledged that the cedi has encountered “some challenges” following a period of relative stability.

    However, he emphasized that the BoG is closely monitoring the situation and possesses the capability to intervene effectively.

    “The exchange rate has been generally stable until recent weeks when some headwinds have been observed in segments of the market. But this is receiving much attention as the bank has built up enough reserves to tackle the pressures on the market,” Dr. Addison stated in a speech read on his behalf.


    The reassurances arrive as the cedi has faced significant challenges in 2024 due to escalating corporate dollar demand and a strengthening U.S. currency. Since January, the local currency has depreciated by approximately 14 percent against the dollar.

    Financial analysts caution that the prospects for foreign exchange inflows are uncertain, which could exacerbate the strain on the weakened cedi in the upcoming months.

    “The near-term outlook for FX supply is decidedly negative due to a panel of fundamental factors,” Constant Capital stated in a market review, citing elevated inflation, low cocoa output, and constrained portfolio inflows.

    According to GCB Capital, although gross international reserves saw a slight increase to US$6.2 billion in March, equating to 2.8 months of import cover, usable reserves have declined substantially to just US$4 billion. This amount is only sufficient for 1.8 months of imports when encumbered assets are taken into account.

    “These levels offer limited protection against balance of payment shocks, indicating that the BoG will likely continue redirecting hard currency away from the interbank market to bolster reserves in the medium term,” the firm stated.


    Databank’s weekly updates indicate that the BoG has already infused an estimated US$270 million into the forex market this year through spot and forward interventions, following US$713 million in support during 2023.

    However, analysts suggest that significantly more firepower may be necessary, particularly with credit to the private sector described by the governor himself as “weak” due to lenders exercising caution.

    In an effort to stimulate bank lending, the BoG recently introduced a “dynamic cash reserve ratio” policy linking required reserves to banks’ loan portfolios – a move aimed at incentivizing effective financial intermediation.

    Under the new policy framework, banks with Loan to Deposit Ratios above 55 percent must maintain a 15 percent CRR, those between 40-55 percent face a 20 percent CRR, and banks below 40 percent are subject to a 25 percent CRR.

    Currently, attention remains focused on the BoG’s forex reserves and its readiness to utilize them in response to the cedi’s depreciation.

  • Dollar now sold at 14.80 at forex

    Dollar now sold at 14.80 at forex


    Today, on May 13, 2024, the Bank of Ghana’s Interbank forex rates indicate that the Ghana Cedi is trading against the US dollar at a buying price of 13.6754 and a selling price of 13.6890.

    At a forex bureau in Accra, the dollar is being bought at 14.50 and sold at 14.80.

    Against the Pound Sterling, the Cedi is trading at a buying price of 17.1079 and a selling price of 17.1277.

    At a forex bureau in Accra, the pound sterling is being bought at a rate of 17.80 and sold at a rate of 18.30.

    The Euro is trading at a buying price of 14.7266 and a selling price of 14.7411.

    At a forex bureau in Accra, the Euro is being bought at a rate of 15.40 and sold at 15.90.

    The South African Rand is trading at a buying price of 0.7415 and a selling price of 0.7422.

    At a forex bureau in Accra, the South African Rand is being bought at a rate of 0.40 and sold at a rate of 1.20.

    The Nigerian Naira is trading at a buying price of 103.0653 and a selling price of 106.7065.

    At a forex bureau in Accra, the Nigerian Naira is being bought at a rate of 9.00 Naira for every 1 Cedi and sold at a rate of 13.00.

    For the CFA, it is trading at a buying price of 44.4985 and a selling price of 44.5423.

    At a forex bureau in Accra, the CFA is being bought at 21.50 CFA for every 1 Cedi and sold at a rate of 23.50 CFA for every 1 Cedi.

    Note that these rates may differ at a forex bureau near you. Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.

    Our forex bureau rates are provided by Afriswap Bureau De Change in Osu, Accra.

  • “Foolish people” – Shatta Wale to Ghanaians who predicted his arrest while in London to support Medikal

    “Foolish people” – Shatta Wale to Ghanaians who predicted his arrest while in London to support Medikal

    Dancehall artist Shatta Wale has brushed aside skeptics who anticipated his arrest during Medikal’s concert in the UK.

    Previously, well-known Ghanaian socialite Showboy voiced concerns over the possibility of Shatta Wale facing arrest, drawing parallels to the legal troubles of his associate Mona4Reall, who was extradited to the United States.

    Critics, suspecting Shatta Wale of involvement in illicit activities akin to those of Mona4Reall, predicted a similar fate for him.

    Rumors circulated suggesting that authorities in both countries had targeted Shatta Wale for apprehension, waiting for an opportune moment to take action.

    However, Shatta Wale, now back in Ghana, has openly criticized those who speculated about his potential detention in the UK.

    Taking to social media, Shatta Wale posted: “The feeling when I enter Ghana Oh Shatta wale will be arrested in the Uk..Foolish ppl”.

    Shatta Wale joined a lineup of Ghanaian artists in London to show solidarity at Medikal’s O2 Indigo event.

    Background

    Mona Faiz Montrage, also recognized as Hajia4Reall or Mona4Reall, encountered extradition from the United Kingdom to the United States over alleged involvement in a romance scam worth $2 million, targeting elderly, unmarried Americans.

    According to US federal prosecutors, the 30-year-old singer and entrepreneur appeared in Manhattan federal court on Monday, May 15, to face charges related to her alleged involvement in multiple romance frauds.

  • Local and international tourists perceive Ghana as expensive – Report

    Local and international tourists perceive Ghana as expensive – Report

    Ghana’s tourism landscape is under scrutiny, with findings from the 2023 Ghana Tourism Report shedding light on perceptions of affordability among tourists.

    According to the report, a significant portion of both local and international visitors perceive Ghana as an expensive destination, contrasting with those who find it affordable.

    Specifically, the report highlights that tourists from key source markets such as the US, UK, Nigeria, and domestic sources regard Ghana as very expensive or expensive. This perception poses challenges for Ghana’s tourism sector, especially concerning competitiveness with other destinations in the region.

    The high cost of accommodation emerges as a prominent concern, with tourists allocating a substantial portion of their budgets to lodging expenses. Non-star rated facilities particularly witness elevated rates, impacting the overall attractiveness of Ghana as a tourist destination.

    Furthermore, stakeholders in the tourism industry point to the complex tax structure as a significant factor contributing to high prices. With approximately 20 taxes and levies imposed on the sector, including NHIL, VAT, and COVID-19 levy, among others, the cost burden on tourism establishments remains substantial.

    Despite these challenges, Ghana remains optimistic about its tourism prospects, aiming to increase international tourist arrivals significantly in the coming years. However, addressing the perception of high costs and enhancing competitiveness will be crucial in achieving these targets.

    As Ghana continues to position itself as a leading tourism destination in West Africa, collaboration between industry stakeholders and policymakers will be essential in addressing the challenges highlighted in the report and unlocking the full potential of the country’s tourism sector.

  • Here is what has been recorded so far as regional breakdown of the ongoing limited registration

    Here is what has been recorded so far as regional breakdown of the ongoing limited registration


    The Ghanaian Electoral Commission (EC) has announced substantial advancements in the ongoing voter registration initiative, recording a total of 143,014 individuals registered nationwide.

    Commencing on Tuesday, May 7, this registration primarily targets first-time voters and those wishing to acquire a voter card. Scheduled to run for 21 days, the operation is slated for completion on May 27, 2024.

    Jean Mensa, Chairperson of the EC, has shed light on the registration procedure, foreseeing an enrollment of roughly 623,000 first-time voters nationwide.

    The EC’s forecast emphasizes the importance of this undertaking in guaranteeing the participation of new voters in the democratic system.


    A breakdown of the registration statistics by region illustrates differing levels of engagement across various areas. Particularly, the Greater Accra region has enrolled 17,837 voters, while regions such as Ashanti have seen higher figures, reaching a total of 25,558 registrations.


    These numbers offer insight into the geographic spread of voter registrations, emphasizing regions with elevated levels of participation.

    Although making strides, the EC remains committed to reaching its registration goal before the conclusion of the exercise.

  • Head of EOCO becomes Chair of Anti-Corruption Agencies in Commonwealth Africa

    Head of EOCO becomes Chair of Anti-Corruption Agencies in Commonwealth Africa

    The Executive Director of Ghana’s Economic and Organised Crime Office(EOCO), COP Maame Yaa Tiwaa Addo-Danquah, has been elected the Chairperson of the Anti-Corruption Agencies in Commonwealth Africa.

    She was elected by delegates at the  14th Commonwealth Regional Conference for Heads of Anti-Corruption Agencies in Africa held in Accra, Ghana.

    COP Maame Tiwaa succeeds the Commissioner of the Anti-Corruption Commission of Seychelles who was elected chairperson of the Association  13th Commonwealth Regional Conference for Heads of Anti-Corruption Agencies in Africa held at Seychelles.

    In her acceptance speech, she underscored the need for leaders of the representing countries to continue aggressively fighting graft within their respective jurisdictions.

    “It is undeniable that corruption remains one of the most significant impediments to the development and progress of our nations. It undermines the rule of law, erodes public trust in institutions, and perpetuates inequalities and injustice. As leaders in the fight against corruption, we have a solemn duty to confront this menace head-on, with unwavering resolve and steadfast commitment”, she disclosed.

    She vowed to dedicate herself to her role as Chairperson of the association and advocated for close collaboration to achieve the group’s vision.

    “I want to extend my heartfelt gratitude to all member agencies for entrusting to me this responsibility. Be assured, that I do not take this trust lightly and for granted.  I pledge to serve with integrity, impartiality, and diligence, always mindful of the immense responsibility that comes with this role.  Together, we must redouble our efforts to strengthen anti-corruption frameworks, enhance cooperation and collaboration among agencies, and foster a culture of accountability at all levels of society. We must leverage technology and innovation to bolster our investigative capacities and ensure that those who engage in corrupt practices are swiftly brought to justice”. 

    “Furthermore, I recognize the importance of engaging with civil society, the private sector, and international partners in our collective endeavour to combat corruption. Their insights, expertise and support are invaluable as we work to build a more transparent future for all Africans”, she stressed

    On her vision for the next year as Chairperson, she said “  Over the next year, I pledge to work tirelessly with each of you to: Foster collaboration and knowledge sharing, Enhance our collective capacity to combat corruption, Support innovative solutions and best practices, Together, we will drive progress, learn from each other’s successes and challenges, and create a stronger, more resilient Commonwealth Africa network”

    She seized the moment to express gratitude to the delegates for entrusting her with the invaluable opportunity to serve and pledged to deliver her utmost with courage, determination, and optimism.

  • “We can deploy digitalization to defeat corruption if we have the right tools” – African Anti-corruption agencies

    “We can deploy digitalization to defeat corruption if we have the right tools” – African Anti-corruption agencies


    More than two hundred delegates from 21 African nations, gathered in Accra, Ghana, for the 14th Commonwealth Regional Conference of Heads of Anti-Corruption Agencies in Africa, have reached a consensus on the crucial role of technology in the fight against corruption and related crimes.

    Vice President Dr. Mahamudu Bawumia, who delivered a presentation on digitalization and its significance, emphasized the necessity for a paradigm shift.

    He suggested that by leveraging the correct digital tools and employing them effectively, digitalization can combat even the most entrenched forms of public corruption, including the intricate networks facilitating such corruption.

    “I posit to you that with the right tools and its use, we can deploy digitalization to defeat the worst forms of public corruption, including the networks that underpin them…While bribery, revenue leakage, and corrupt networks and value chains are some of the most pressing issues in the fight against corruption that threaten the future of African youth, we also have at our disposal digital technologies to identify members of corrupt networks, to account for revenues collected and to block revenue theft, as well as to track money and suspicious activity”, he had argued.

    He stated that the utilization of digital tools has demonstrated that with increased investment and improved tools, there exists the potential to eradicate the most severe forms of corruption that burden African economies.

    Dr. Bawumia, who has effectively spearheaded the NPP Government’s digitalization initiative, disclosed plans for the next phase of the Government’s extensive digitalization campaign, which entails the adoption of blockchain technology. This innovation aims to safeguard Government data and records from tampering, furthering the Government’s anti-corruption efforts in the public sector through the strategic use of digital tools.

    He elucidated that upon successful implementation of blockchain technology, Ghana’s Government could pioneer the establishment of a blockchain-driven administration on the African continent.

    “We are going to adopt blockchain technology for the government to ensure that all data and transactions in the Government space are transparent and tamper-proof.  No one can change them. And so ours could well become the first blockchain-powered government in Africa,” he disclosed.

    After his presentation, delegates unanimously endorsed the Vice President’s proposal for the utilization of technology in combating corruption in the modern era, as reflected in their Ten-Point Communique.

    “Member countries should scale up the use of technology to combat corruption; Anti-Corruption agencies should intensify corruption prevention in view of the evolving corruption landscape; Commonwealth African governments should commit adequate resources to Anti-Corruption agencies, to ensure the latter’s effectiveness and sustainability at fighting corruption”, the communique said.

  • Edem Agbana reflects on his journey as parliamentary candidate over the past year

    Edem Agbana reflects on his journey as parliamentary candidate over the past year

    A year has passed since Edem Agbana was elected as the parliamentary candidate of the National Democratic Congress (NDC) for the Ketu North constituency.

    Reflecting on this milestone, he recalls how doubts lingered about his ability to unite the community. Looking back on the past year, he noted that many anticipated his failure after securing leadership within the NDC in the constituency.

    “From navigating the complexities of the election declaration to addressing the sharp divisions among the rank and file of our party within the constituency, every step of this journey has strengthened and reinforced my unwavering commitment to leading a united party towards achieving our set target of agenda 85% plus in the general elections.

    “The naysayers predicted doom, and many were those who thought the NDC in Ketu North would have broken after the storms, but here we are, united by our pursuit and determined to make history together. It takes a firm leadership to achieve what we have done together,” he wrote.

    Edem Agbana further emphasized that, in his view, the leadership Ghana requires aligns with the qualities exemplified by John Dramani Mahama, the NDC Flagbearer.

    He urged Ghanaians to give their votes to the former president because “Ghana is in dire need of leadership, leadership that gives hope and can return our nation to the path of progress and development. The John Mahama candidacy answers all the leadership questions begging for answers.”

    If Edem Agbana emerges victorious in the parliamentary elections on December 7, 2024, for the Ketu North constituency, he will succeed the incumbent Member of Parliament, James Klutse Avedzi.

    Read his full statement below:

    ‘’A Year On : Building the Ketu North We Want Together – Reflections of Amefo Eric Edem Agbana”

    Today marks exactly a year since I was elected in a keenly contested parliamentary primaries to represent the National Democratic Congress (NDC) as the Parliamentary Candidate for our beloved Ketu North constituency.

    This past year has been nothing short of an amazing journey of service and determination, filled with growth, resilience, and deepened connections with the wonderful people of Ketu North.

    Reflecting on the journey we’ve undertaken together, I am reminded of the challenges we’ve faced and the success story we are writing together.

    From navigating the complexities of the election declaration to addressing the sharp divisions among the rank and file of our party within the constituency, every step of this journey has strengthened and reinforced my unwavering commitment to leading a united party towards achieving our set target of agenda 85% plus in the general elections.

    The naysayers predicted doom, and many were those who thought the NDC in Ketu North would have broken after the storms, but here we are, united by our pursuit and determined to make history together. It takes a firm leadership to achieve what we have done together.

    The prayers, trust, and support across the constituency have been both humbling and inspiring. It is a privilege that I do not take for granted, and I am sincerely grateful for the opportunity to lead the charge as we seek to build the Ketu North we want together.

    As we mark this milestone, let us not only celebrate our achievements but also reaffirm our dedication to ensuring that we sacrifice our all for the victory of John Dramani Mahama, and Eric Edem Agbana.

    Ghana is in dire need of leadership, leadership that gives hope and can return our nation to the path of progress and development. The John Mahama candidacy answers all the leadership questions begging for answers.

    Looking ahead, I am optimistic about the Ketu North project. We will relentlessly pursue our #EmpoweringKetuNorth agenda.

    Let me use this opportunity to thank the leadership of our party at the branch, ward, constituency, regional, and national levels. Your support has been instrumental in shaping our path and uniting our party.

    Let me also appreciate everyone involved in my campaign before, during, and after the primaries. Your belief in me is the foundation for the future we seek to build.

    I am deeply grateful to my colleague aspirants in the primaries; your magnanimity and support after the primaries are remarkable. During the turbulent period, many of you stood by me and ensured that we assertively fight for the truth.

    Together, we will overcome any obstacles that may come our way and build a stronger, and a more resilient party here in Ketu North.

    Let us continue this journey together, united in our pursuit of victory in 2024.

    God is the Lifter of Men.

    Thank You.

    Eric Edem Agbana
    NDC Parliamentary Candidate,
    Ketu North

  • Video: Violence erupts in Ahafo Ano South East as NDC agents stops NPP aspirant from registering minors

    Video: Violence erupts in Ahafo Ano South East as NDC agents stops NPP aspirant from registering minors


    Violence erupted during the voter registration process at a center in Adugyama, situated in the Ahafo Ano South East Constituency of the Ashanti Region.

    The clash ensued between supporters of the New Patriotic Party (NPP) and the National Democratic Congress (NDC).

    The altercation heightened when NDC party agents allegedly obstructed the NPP’s Parliamentary Candidate from registering certain individuals at the center.

    Frederick Acheampong, the NPP candidate, contended that these individuals, including children residing with him in Kumasi and other relatives, were eligible to register in the constituency. However, NDC agents disputed their eligibility, claiming they were not residents of the area.

    Efforts to resolve the dispute through discussions between Electoral Commission (EC) officials and party agents proved futile, according to reports. Consequently, a group of armed men carrying sticks, machetes, and other weapons stormed the area, vandalizing properties and assaulting individuals.

    In a video capturing the chaos, individuals were seen engaging in aggressive physical altercations, with some wielding machetes.

    Following the incident, the police force has taken action, suspending three officers allegedly involved in unprofessional conduct. The conflict resulted in three individuals sustaining injuries.

    Watch video below:

  • 18-year-old forcefully registered as a minor in 2020 elections arrested due to oversight by EC – Report

    18-year-old forcefully registered as a minor in 2020 elections arrested due to oversight by EC – Report

    A father living in Koforidua known as Yaw Boateng has shared a humiliating story of how his son ended up in the grips of the police because some unknown individuals illegitimately registered him for the purpose of voting.

    Mr Yaw explained that his sons were registered in his absence, however when he returned he followed up to ensure that their names were cancelled from the voter register.

    He mentioned signing affidavits and following a cancellation process, but four years later, it appears that the EC officials failed to fulfill their duties.

    As his son reached the age of 18 and attempted to register as a voter, he was shocked to find himself arrested by the police.

    “Four years ago in 2020 somewhere in July. I returned one day and realized that my kids have been registered. My daughter is 12 years and she has been registered. My son was 14 years at that time and he was also registered. By unknown persons in Koforidua I realized minors were being registered to suit certain agenda. I don’t do politics so I don’t engage myself. So quickly I wrote a letter to the Municipal director of the EC petitioning of what has happened and asking him to delete the name. I wrote a letter on 23rd July 2020.”

    “I have the letter here. Fast forward, they invited me and I met a panel and they made me do an affidavit swearing that the kids were my kids, the date of birth given to them were legitimate and they agreed that they have been registered. They collected the cards from me and assured me that they will delete the names. Fast forward 4 years later my boy turns 18. He comes here, he joins the queue to register and gets me a call that he has been arrested.”

    “I rushed and brought the letter, and they asked that I come and meet the EC on Monday for further discussion. I find it weird because my son has gone through a lot of trauma. He called me shivering, frightened because he has been arrested by the police when he has done nothing wrong but also because someone neglected his duty. 4 years?!”

    “its weird. And for the trauma that my boy has been through, I think on Monday the EC will have some questions to answer. Because phytologically he is not stable. He is in SHS 3 getting ready for exams. Look at the humiliation he’s been through. He’s been humiliated in public and people are calling me. Lets assume I was not in Koforidua, What will happen?,” Mr Yaw Boateng explained to the media.

  • EC failed to remove my son’s name from voter system despite knowing he was a minor – Father alleges

    EC failed to remove my son’s name from voter system despite knowing he was a minor – Father alleges

    A father living in Koforidua known as Yaw Boateng has shared a humiliating story of how his son ended up in the grips of the police because some unknown individuals illegitimately registered him for the purpose of voting.

    Mr Yaw explained that his sons were registered in his absence, however when he returned he followed up to ensure that their names were cancelled from the voter register.

    He mentioned signing affidavits and following a cancellation process, but four years later, it appears that the EC officials failed to fulfill their duties.

    As his son reached the age of 18 and attempted to register as a voter, he was shocked to find himself arrested by the police.

    “Four years ago in 2020 somewhere in July. I returned one day and realized that my kids have been registered. My daughter is 12 years and she has been registered. My son was 14 years at that time and he was also registered. By unknown persons in Koforidua I realized minors were being registered to suit certain agenda. I don’t do politics so I don’t engage myself. So quickly I wrote a letter to the Municipal director of the EC petitioning of what has happened and asking him to delete the name. I wrote a letter on 23rd July 2020.”

    “I have the letter here. Fast forward, they invited me and I met a panel and they made me do an affidavit swearing that the kids were my kids, the date of birth given to them were legitimate and they agreed that they have been registered. They collected the cards from me and assured me that they will delete the names. Fast forward 4 years later my boy turns 18. He comes here, he joins the queue to register and gets me a call that he has been arrested.”

    “I rushed and brought the letter, and they asked that I come and meet the EC on Monday for further discussion. I find it weird because my son has gone through a lot of trauma. He called me shivering, frightened because he has been arrested by the police when he has done nothing wrong but also because someone neglected his duty. 4 years?!”

    “its weird. And for the trauma that my boy has been through, I think on Monday the EC will have some questions to answer. Because phytologically he is not stable. He is in SHS 3 getting ready for exams. Look at the humiliation he’s been through. He’s been humiliated in public and people are calling me. Lets assume I was not in Koforidua, What will happen?,” Mr Yaw Boateng explained to the media.

  • Father recounts how his 14-year-old son was registered in 2020 election by unknown individuals

    Father recounts how his 14-year-old son was registered in 2020 election by unknown individuals

    A father living in Koforidua known as Yaw Boateng has shared a humiliating story of how his son ended up in the grips of the police because some unknown individuals illegitimately registered him for the purpose of voting.

    Mr Yaw explained that his sons were registered in his absence, however when he returned he followed up to ensure that their names were cancelled from the voter register.

    He mentioned signing affidavits and following a cancellation process, but four years later, it appears that the EC officials failed to fulfill their duties.

    As his son reached the age of 18 and attempted to register as a voter, he was shocked to find himself arrested by the police.

    “Four years ago in 2020 somewhere in July. I returned one day and realized that my kids have been registered. My daughter is 12 years and she has been registered. My son was 14 years at that time and he was also registered. By unknown persons in Koforidua I realized minors were being registered to suit certain agenda. I don’t do politics so I don’t engage myself. So quickly I wrote a letter to the Municipal director of the EC petitioning of what has happened and asking him to delete the name. I wrote a letter on 23rd July 2020.”

    “I have the letter here. Fast forward, they invited me and I met a panel and they made me do an affidavit swearing that the kids were my kids, the date of birth given to them were legitimate and they agreed that they have been registered. They collected the cards from me and assured me that they will delete the names. Fast forward 4 years later my boy turns 18. He comes here, he joins the queue to register and gets me a call that he has been arrested.”

    “I rushed and brought the letter, and they asked that I come and meet the EC on Monday for further discussion. I find it weird because my son has gone through a lot of trauma. He called me shivering, frightened because he has been arrested by the police when he has done nothing wrong but also because someone neglected his duty. 4 years?!”

    “its weird. And for the trauma that my boy has been through, I think on Monday the EC will have some questions to answer. Because phytologically he is not stable. He is in SHS 3 getting ready for exams. Look at the humiliation he’s been through. He’s been humiliated in public and people are calling me. Lets assume I was not in Koforidua, What will happen?,” Mr Yaw Boateng explained to the media.

  • Students at Virginia Commonwealth University stage a graduation walkout over a speakers remarks

    Students at Virginia Commonwealth University stage a graduation walkout over a speakers remarks

    Scores of Virginia Commonwealth University students staged a walkout during their graduation ceremony on Saturday, partly in response to remarks made by a speaker, State Governor Glenn Youngkin, regarding campus protests.

    This occurs as school officials across the US prepare for potential disruptions of commencement ceremonies amid protests over the Israel-Gaza conflict.

    Numerous colleges, which have been rocked by protests, are holding graduation events this weekend.

    Since mid-April, over 2,000 individuals have been arrested in connection with the protests.

    Social media posts on Saturday depicted Virginia Commonwealth University (VCU) students clad in caps and gowns exiting the venue as Governor Glenn Youngkin began his commencement speech.

    Criticism arose among students regarding Mr. Youngkin’s selection as the speaker for that year’s event, citing his opposition to VCU’s proposed racial literacy requirement and his stance against allowing encampments on college campuses.

    Online videos depict VCU protesters chanting “disclose, divest – we will not stop we will not rest.”

    Across the US, many student protesters are advocating for their schools, some of which possess substantial endowments, to sever financial ties with Israel.

    According to Sereen Haddad, a second-year VCU student involved in organizing the protest, applause drowned out Mr. Youngkin’s speech to the extent that some audience members couldn’t hear him speak.

    Ms. Haddad stated that around 150 individuals, including protesting students who walked out, participated in a march outside the ceremony.

    Thirteen people, including six students, were arrested at VCU when the encampment there was cleared by police on 29 April.

    Mr Youngkin’s speech went on as planned despite the walk-out. He later posted a message on social media congratulating graduates and did not comment on the protest.

    At another commencement on Saturday, the University of California Berkeley Chancellor Carol Christ opened the ceremony by acknowledging the weeks of demonstrations from protesters.

    “I’m saddened by how this conflict has divided students, faculty and staff,” she said, according to the LA Times.

    The remarks drew some applause as well as chants of: “Hey hey, ho ho, the occupation has got to go”.

    Some 20 students stood up and began waving signs, Palestinian flags and chanting, “Free Palestine” as during another speech, the San Francisco Chronicle reported, and they were later joined in chants by more graduates.

    In a statement, UC Berkeley said that the event continued despite being “unfortunately disrupted” and that protesters who left the ceremony did so voluntarily. No one was arrested.

    The protest came a day after eight students wore shirts spelling out “UC divest” during the law school graduation ceremony.

    In the past month, the BBC has counted more than 130 US colleges and universities with protests against the ongoing war in Gaza.

  • “Arms ban on Israel would strengthen Hamas” – Lord Cameron

    “Arms ban on Israel would strengthen Hamas” – Lord Cameron

    Lord Cameron, speaking to the BBC, stated that while he opposes a major ground offensive in Rafah, the UK won’t follow the US in halting some arms sales to Israel.

    Despite only providing 1% of Israel’s weapons, he cautioned that Israel must prioritize civilian protection and allow humanitarian aid.

    Labour’s Jonathan Ashworth expressed opposition to British-made arms being used in Rafah, as US President Joe Biden signaled a significant shift in policy by conditioning arms supply on Israel’s actions in the southern Gazan city.

    Amid reports of mass displacement and Israeli military buildup in Rafah, concerns persist over potential civilian casualties and a worsening humanitarian situation. Despite warnings from allies, Israel remains determined to pursue operations against Hamas in the area.

    Lord Cameron emphasized the need for Israel to demonstrate its plan to safeguard civilians before endorsing a full-scale offensive. However, he noted the disparity between the US and UK positions, highlighting America’s significant role as a major arms supplier to Israel.

    “Just to simply announce today that we will change our approach on arms exports, it would make Hamas stronger and it would make a hostage deal less likely,” he adds.

    He expressed his preference for prioritizing the consistent effort to facilitate humanitarian aid delivery to Gaza.

    The US State Department published a report on Friday, suggesting that Israel may have violated international humanitarian law by using American-provided weapons during the Gaza conflict.

    When asked about his stance on the report’s findings, Lord Cameron criticized Israel’s handling of the situation, asserting that its performance regarding humanitarian aid access has been inadequate.

    However, he highlighted the UK’s distinct approach, stating his lack of interest in symbolic gestures such as halting weapons sales as a means of sending messages.

    Lord Cameron said: “I’m interested in what can we do to maximise the British pressure and the outcome that will help people in their lives – including getting the hostages, including British nationals, released.”

    He dismissed the idea of British boots on the ground in Gaza, saying it was “a risk that we should not take”.

    It comes after the BBC last month reported the government was considering sending British troops into Gaza to help deliver aid via a new sea route.

    Labour MP Zarah Sultana accused the government of not following its own rules by supplying weapons to Israel.

    The government’s Strategic Export Licensing Criteria prevents weapons sales “if there is a clear risk that the items might be used to commit or facilitate a serious violation of international humanitarian law”.

    Ms Sultana said the scale of arms sales to Israel “does not matter”.

    “We are aiding and abetting what are war crimes happening on a daily basis” she told the BBC.

    Labour’s position on Gaza has shifted since the 7 October Hamas attacks, in which 252 people were kidnapped and about 1,200 killed, sparked a full-blown Israeli military operation in the area.

    Since then more than 35,000 people have been killed and 78,000 others wounded in Gaza, according to the territory’s Hamas-run health ministry.

    Last year, 10 Labour frontbenchers quit over the party’s failure to call for a ceasefire in Gaza as it instead backed a “humanitarian pause” to allow aid to flood into the country.

    But in February, Labour began calling for an “immediate ceasefire” after the situation in Gaza “evolved”.

    Mr Ashworth, a senior member of the shadow cabinet, said he did not “want to see British-made weapons used” in an invasion in Rafah.

    “A full-scale offensive into Rafah will be a catastrophe beyond description,” he said.

    He called on the government to publish the legal advice it has been given on arms sales to Israel.

  • Video: Kwame Despite snubs MC who asked him for a dollar note at a wedding ceremony

    Video: Kwame Despite snubs MC who asked him for a dollar note at a wedding ceremony

    Once again, Dr. Osei Kwame Despite, CEO of Despite Media Group, made a lavish entrance at a wedding, displaying his wealth.

    As the groomsmen lined up, the MC called for those with dollars and pounds to step forward. Kwame Despite stood up and distributed dollar notes to the groomsmen before returning to his seat.

    Later, the MC, a woman, requested one of the dollar notes from him, but he ignored her and kept the remaining money.

    Despite was accompanied by his close friend, Dr. Ofori Sarpong, and other notable figures, all dressed in all-white Kaftan attire, to honor the occasion.

    The video, which surfaced online, has sparked discussion, with some praising Despite for his generosity.

    However, the identity of the wedding couple remains unclear.

    Watch video below:

  • ‘You had no basis to ban celebrities from endorsing alcoholic products’ – Arnold

    ‘You had no basis to ban celebrities from endorsing alcoholic products’ – Arnold

    Arnold Asamoah-Baidoo, an entertainment commentator, has voiced criticism against the Food and Drugs Authority (FDA) for banning celebrities from endorsing alcoholic products.

    He argued that the FDA’s decision lacks empirical evidence demonstrating the impact of such endorsements on children and youth, making the directive ineffective.

    Arnold stressed that the directive could be justified if research data showed that celebrity endorsements of alcohol had negative societal effects.

    “I do not believe that being a regulator gives you the right to enact laws that could potentially collapse another industry. Anyone who has doubts should revisit the directive; it was issued without any analysis or empirical data to substantiate their claims that celebrities could negatively influence kids and the youth through such advertisements.

    “In the UK, where they have regulations on betting and other activities, they provide empirical analysis with dates and figures that demonstrate the impact on 6,000 children, allowing for a clear understanding. But issuing a pedestrian directive without empirical evidence to support it is a mistake. What they’ve done has serious implications for the industry,” he said on UTV’s United Showbiz hosted by MzGee and monitored by GhanaWeb.

    In the meantime, individuals in the entertainment industry have shared varied opinions regarding the prohibition of celebrity endorsements for alcohol. Some view it as advantageous, while others argue that it won’t benefit industry stakeholders.

    Background

    In 2015, the Food and Drug Authority (FDA) enforced a ban on celebrities endorsing alcoholic drinks, aligning with a World Health Organization (WHO) policy aimed at safeguarding minors from alcoholism.

    The controversy reignited in 2020 when artist Wendy Shay publicly criticized the FDA and the Gaming Commission of Ghana for the ban, arguing it deprived celebrities of potential income.

    Shay urged her colleagues to resist the policy, claiming it harmed their financial interests.

    The FDA maintained that their directive was not intended to hinder celebrities’ earnings but to protect children.

    In 2022, the matter escalated to the Supreme Court.

    Mark Darlington Osae, a music publisher and chair of the Ghana Music Alliance, challenged the FDA’s regulations, alleging discrimination based on economic status and occupation, violating articles 17(1) and 17(2) of the 1992 Constitution.

    Several key figures in the music industry, including Shatta Wale, Brother Sammy, Kuami Eugene, and Camidoh, have opposed the law, calling for its repeal prior to Mark Darlington’s legal action.

    Meanwhile, the Supreme Court of Ghana has postponed its ruling on the matter.

    No new date has been announced.

  • Residents at a part of Goaso township helpless as newly erected building catches fire

    Residents at a part of Goaso township helpless as newly erected building catches fire


    As flames engulfed their newly erected building in Goaso, inhabitants hurriedly collected their belongings from their rooms.

    Anger flared among them as they pointed fingers at the fire service for its absence during the crisis.

    Despite the chaos, neighbors are seen in a video banded together to offer aid and support to those affected.

    In the aftermath of the devastating fire, the community mourned their losses and resolved to rebuild their lives from the ashes.

    Watch post below

  • Delay allegedly mocks Afia Schwarzenegger as she reflects on her career after 16 years

    Delay allegedly mocks Afia Schwarzenegger as she reflects on her career after 16 years


    Delay has allegedly criticized her old adversary, Afia Schwarzenegger, as she marks the 16th anniversary of her esteemed talk show.

    Filled with pride, Delay seized the opportunity not only to commend herself but also to revel in the misfortunes of her foes.

    One particular adversary, allegedly Afia Schwarzenegger, whom Delay propelled to fame on her own ‘Afia Schwarzenegger’ television program, bore the brunt of her wrath.

    Delay strongly rebuked Afia in a glorious manner.

    She highlighted that while her own show and career have endured, Afia Schwarzenegger’s career has faltered.

    Delay emphasized that talent and hard work alone are insufficient for success; a positive attitude is also crucial.

    In essence, Delay asserted that Afia Schwarzenegger‘s negative attitude has led to the demise of her career!

    And Delay’s assertion holds weight because, while she remains a prominent figure in the media industry and a successful entrepreneur, Schwarzenegger has been reduced to running a radio station from her kitchen in the States, mockingly dubbed “Kitchen FM” by Ghanaians.

    Witness Delay’s scathing critique of Afia below…

  • Lyrical Joe fires back at Dremo with diss track following dispute with Sarkodie

    Lyrical Joe fires back at Dremo with diss track following dispute with Sarkodie


    In the aftermath of Dremo’s diss track aimed at Sarkodie, the long-awaited diss track by Lyrical Joe has sparked controversy online.

    Ghanaian rappers may be gearing up to retaliate against Dremo for disrespecting their rap icon, Sarkodie.

    The release of Lyrical Joe’s anticipated diss track has reignited discussions across the internet

    Numerous Ghanaian musicians have advised Africa’s top rapper to step aside and let them handle the rap beef, following his diss track against Sarkodie.

    Despite keeping their talents under wraps for too long, these musicians are now eager to showcase their skills to the world. Lyrical Joe, the vocalist behind “Enter,” has joined the ongoing rap feud sparked by CJ Biggerman.

    With many feeling disconnected from CJ Biggerman’s lyrics in his diss track, Lyrical Joe’s verses are seen as elevating and rejuvenating Ghanaian rap with powerful punchlines directed at Dremo. Online users praise Lyrical Joe for his distinct rap style and for uplifting the Ghanaian rap scene without resorting to defamation.

    Listen to Lyrical Joe’s diss track “1960” aimed at Dremo below:

  • “I am not married but my brains are working” – Delay’s response to fan questioning her marital status

    “I am not married but my brains are working” – Delay’s response to fan questioning her marital status

    Delay, a Ghanaian celebrity, frequently faces pressure about marriage from fans.

    Despite her accomplishments as a career woman and successful businesswoman, some people seem to disregard her due to her unmarried status.

    Nearly every post she shares prompts inquiries from curious fans urging her to marry. In Africa, unmarried women are often viewed as burdens or failures, regardless of their achievements.

    However, Delay refuses to be belittled. She consistently responds to those who criticize her single status.

    In a recent interaction, a fan commented on one of her posts, noting her lack of a husband despite her achievements.

    Delay retorted, emphasizing that while she may not have a husband, her intelligence allows her to earn a significant income.