By Solomon Gumah

Tamale, June 27, GNA – Mr Solomon Nyanka, Monitoring and Evaluation Officer at the Ghana Anti-Corruption Coalition (GACC), has stated that Ghana’s efforts to effectively recover and manage stolen assets are being severely undermined becsuse of weak institutional structures and insufficient collaboration among civil society organizations and the media. 

He explained that the failure of developing countries, including Ghana, to properly recover and manage corrupt assets had led to annual losses of billions through embezzlement, bribery, and misuse of public resources, thereby undermining national development. 

Mr Nyanka said this during a sensitization workshop on asset recovery and management for selected civil society organizations, media personnel, and community-based groups in Tamale. 

The workshop, organized by the GACC, formed part of the implementation of a project titled: “Building Political Will and Public Support for Asset Recovery in Ghana”, with funding support from the Inter-Governmental Action Group Against Money Laundering in West Africa. 

It was to deepen public understanding and strengthen the role of the media and civil society in advancing Ghana’s asset recovery efforts. 

Participants were sensitized on Ghana’s legal and institutional frameworks for recovering the proceeds of crime, and the critical roles of the media and the public in ensuring accountability. 

Madam Yvette Anthea Owusu from the Compliance Department of the Financial Intelligence Centre, Ghana, provided an overview of the country’s asset recovery regime.  

She noted that Ghana aligned her approach with international obligations under the United Nations Convention Against Corruption, ratified in 2017. 

She added that the country also adhered to recommendations by the Financial Action Task Force and the ECOWAS Protocol on the Fight Against Corruption, which guided Ghana’s asset recovery efforts and legislative frameworks. 

Madam Owusu cited key legal instruments supporting asset recovery in Ghana including the Economic and Organized Crime Office Act, 2010 (Act 804), the Anti-Money Laundering Act, 2020 (Act 1044), and the Office of the Special Prosecutor Act, 2017 (Act 957). 

She encouraged civil society organizations and the media to effectively play their watchdog roles by holding institutions accountable, prioritizing investigative journalism to trace illicit assets, and participating in policy and legislative reforms. 

Mr Benjamin Ndego from the Legal and Prosecutions Department of EOCO highlighted key challenges facing asset recovery efforts.  

He said recovery often required litigation, which could be delayed due to congested court dockets, frequent adjournments, and procedural technicalities. 

He said EOCO successfully recovered GHc308 million in 2023 and GHc200 million in 2024.  

He added that EOCO had also confiscated several landed properties nationwide and strengthened international collaborations, including the Asset Recovery Inter-Agency Network Africa. 

Participants at the workshop recommended that EOCO intensified the use of legal tools such as plea bargaining to enhance recovery outcomes and called for continuous capacity building and policy reforms to improve the system. 

GNA 

Edited by Eric K. Amoh/Christian Akorlie  

Goosie Tandoh (L), Speaker of Parliament Alban Bagbin (R)

The government is set to officially launch its flagship 24-Hour Economy policy on Wednesday, July 2, 2025.

The policy, which is one of the National Democratic Congress’ (NDC) key campaign promises ahead of the 2024 general elections, seeks to reduce unemployment by creating more job opportunities through a three-shift working system across key sectors of the economy.

Speaking at a brief ceremony in Parliament on Thursday, June 26, 2025, the Presidential Advisor on the programme, Goosie Tanoh, presented the official policy document to the Speaker of Parliament, Alban Bagbin.

He stated that the move was to formally notify the legislature of the government’s readiness to roll out the initiative.

He emphasised he government’s readiness to implement the programme, stating that the policy is grounded in three main pillars: transforming production, improving supply chain and market systems, and enhancing human capital.

“These foundational anchors are supported by eight strategic sub-programmes,” he said.

Among the sub-programmes are:

Roll 24 – the agriculture-focused component aimed at expanding food production,

Make 24 – a manufacturing-led initiative to promote industrialisation,

Connect 24 – targeted at improving supply chain integration and logistics,

Aspire 24 – a mindset reorientation programme aimed at enhancing productivity and work ethic in the public and private sectors.

Tandoh also announced that digital technology training would be integrated into the Technical and Vocational Education and Training (TVET) curriculum, to better align Ghana’s workforce with future job demands.

He also disclosed the inclusion of a cultural promotion programme dubbed ‘Show Ghana’, which seeks to showcase Ghana’s arts and cultural heritage to the international market as a tourism and revenue-generating strategy.

In his remarks, Speaker of Parliament, Alban Bagbin welcomed the submission of the policy document but urged the Executive to ensure legislative backing for the programme.

“There must be a concerted effort to push for the passage of a bill to institutionalise the policy. We need to insulate it from political transitions to ensure its sustainability over time,” he noted.

The 24-Hour Economy Secretariat is expected to spearhead the implementation of the policy, working in collaboration with relevant ministries, departments, and agencies.

SP/SA

How social engineering hacks your mind and your bank account

Consolidated Bank Ghana Limited (CBG) has donated over 700 Ghanaian-authored books to the Assorku Essaman Cluster of Schools in Takoradi as part of the Bank’s flagship literacy campaign, “Formative Learning with CBG.” The donation included storybooks and “My First Copy Books” from Book One to Book Three.

Dr. Naomi Worlali Kwetey, the Managing Director of Consolidated Bank Ghana LTD., led the donation and emphasized the Bank’s commitment to investing in early education and nurturing future leaders through reading. She encouraged the pupils to fully utilize the books, viewing them as tools for empowerment in their future.

Dr. Kwetey reiterated, “We are not just donating books; we are investing in the dreams and futures of every child present. Every great dreamer started as a reader, and the knowledge you gain today will empower you to shape your future.”

She also expressed appreciation to the teachers, acknowledging their vital role as partners in shaping young minds and building a more empowered society.

Madam Rita Baidoo, the headmistress of the school, expressed gratitude to CBG, noting that the books would significantly impact the overall academic performance of the students.

Present at the event were the Deputy Managing Director of CBG, Madam Sheila Azuntaba, and the Head of Corporate Communications, Madam Mavis Frempong, who participated in classroom reading sessions with the pupils.

Dr. Naomi Worlali Kwetey also took the opportunity to visit CBG branches in the Western and Central regions to familiarize herself with the staff there.

Formative Learning with CBG is an initiative that targets schools in underserved communities, supporting CBG’s CSR strategy, which focuses on the pillars of education, health, and community development. The books distributed under the programme are locally sourced from the Ghana Publishing Company and Afram Publications Limited, ensuring culturally relevant and age-appropriate content.

The initiative aligns with Sustainable Development Goal 4 – Quality Education, supporting the Bank’s role in fostering inclusive and equitable access to learning across Ghana.

If we all plant a tree, nurture it, and encourage others to do the same, we will not only green our surroundings and communities but also strengthen our collective efforts to combat climate shocks.

This simple act, placing a seedling in the ground and watching it grow, holds the key to addressing many of the environmental challenges the world is grappling with today.

At a recent tree planting event in Accra, diplomats, government officials, corporate partners, and volunteers came together not just to plant trees, but to demonstrate a shared responsibility for environmental stewardship. The event showcased how tree planting can unite people around a common purpose: protecting our planet and safeguarding our future.

The event was organised by the Forestry Commission as part of Ghana’s broader environmental agenda, specifically under the Tree for Life initiative, launched by the President. This ambitious campaign aims to plant 30 million tree seedlings in 2025, promoting urban greening, conserving biodiversity, and encouraging sustainable land use across the country.

In the face of accelerating climate change, tree planting has evolved from a symbolic act to a critical climate solution. Reforestation efforts help reverse the effects of deforestation, restore degraded land, and reduce rising temperatures. But for these efforts to succeed, one essential ingredient is needed: your participation.

You don’t need to be a forester to make a difference. Planting a tree is simple, impactful, and accessible.

Thanks to the Forestry Commission, free seedlings are being distributed at key locations till the end of June, making it easy for anyone to get involved.

Whether you’re planting in your backyard, a school compound, or a public space, each tree contributes to the larger mission of environmental restoration.

******

The writer, Linda Segbefia, is a Corporate Communications Officer at UBA

DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.

DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.

Clarification on sanction categories

Overstay statistics and Ghana’s response

Diplomatic engagements to continue

The Institute of Economic Affairs (IEA) has raised concerns over indications that government intends extending the production licence of Tullow Oil PLC (Tullow) to 2040, following a recent memorandum of understanding (MoU) signing between the state and the international oil company.

According to the policy think-tank, although the MoU has been described as non-binding – and with nearly a decade remaining on the current contract – its effect could be to lock Ghana into legacy terms that no longer serve the public interest.

Tullow announced in early June that it – along with Kosmos Energy, PetroSA, Ghana National Petroleum Corporation (GNPC) and Explorco – had signed an MoU to extend the West Cape Three Points (WCTP) and Deep Water Tano (DWT) licences to 2040.

These blocks cover the Jubilee and TEN fields, two of Ghana’s most productive oil assets.

The MoU includes approval for drilling up to 20 additional wells in the Jubilee field, representing an investment of up to US$2billion in Ghana over the licenses’ life. The joint venture (JV) expects this extension to result in a significant increase of gross 2P reserves.

Tullow said the MoU outlines key principles that support continued development of the Jubilee and TEN fields. These include a commitment to increase the supply of gas from the fields to around 130 million standard cubic feet per day (mmscf/d), a reduced gas price for Jubilee associated gas, a guaranteed reimbursement mechanism for gas sales and investment in GNPC and the Petroleum Commission’s technical capacity, with a focus on advanced technology.

“All terms and conditions of the existing WCTP and DWT Petroleum Agreements remain in place and continue unchanged,” the company said.

Following the MoU, it is expected that there will be a submission for approval of a Jubilee Plan of Development (PoD) Addendum, the signing of new fully-termed gas sales agreements (GSAs) and a request for parliamentary approval of the payment security mechanism and licence extensions, all anticipated before end of third quarter 2025.

In light of these developments, IEA argues that Ghana’s Constitution and laws – particularly Articles 181(5) and 268(1) – require parliamentary approval for such significant resource transactions.

The think-tank added that the Supreme Court’s jurisprudence affirms that substance must prevail over form when determining whether agreements require legislative ratification.

These legal concerns were raised during a policy roundtable on ‘Reviewing Petroleum Agreements for the Good of Ghana’, hosted by the IEA.

In his keynote address, Managing Consultant-Excel Legal Consultancy, Victor Anku-Tsede, warned that the decisions under consideration risk repeating past extractive missteps. He cited Ghana’s long experience with large-scale gold mining, where national returns have been modest due to investor-favourable agreements, weak fiscal regimes and limited enforcement capacity.

Regarding the oil and gas sector, he said early petroleum agreements included overly generous terms, such as low royalties, high cost-recovery allowances, stabilisation clauses and modest state participation, reflecting Ghana’s frontier status and institutional limitations at the time.

“While these succeeded in attracting investment, they left the country with a government take far below global averages, estimated in some cases at just 42 percent, compared to a typical 50–65 percent range for maturing producers,” he said.

He called for a comprehensive reform of petroleum agreements, stressing that this is not a radical proposition but a globally consistent approach to maximising public benefit.

“Other nations, Senegal, Namibia, Tanzania, Angola and Mexico, have all undertaken petroleum contract reform in response to evolving national goals. These examples offer Ghana useful lessons in balancing investor certainty with fiscal justice and democratic accountability.”

He proposed the creation of a Petroleum Agreement Review Committee, introduction of reopener clauses in future contracts, greater public access to contract information through a dedicated portal and reforms to the Petroleum Revenue Management Act (PRMA) to support clean energy transitions.

“The stakes are too high,” he said. “MoUs that determine decades of production and billions in revenue must be ratified by parliament. We must shift from informal agreements to enforceable mandates and from opaque negotiations to full democratic oversight.”

Also weighing in, retired Chief Justice Sophia Akuffo questioned the rationale for extending Tullow’s licence by an additional four years – particularly in light of a recent tax arbitration that resulted in substantial financial awards against the state.

“We need to take a pause and review the experience, the terms, where we want to go…and how that fits with the president’s vision of resetting the nation, before we tie ourselves,” she said.

Responding to the concerns raised, Collins Adomako-Mensah, Deputy Ranking Member of the Select Committee on Energy and Member of Parliament (MP) for Afigya Kwabre North, noted that the Minister for Energy and Green Transition had indicated a final agreement on the licence extension will be brought before parliament.

“Be assured that members of the Energy Committee of Parliament are going to do a very thorough job,” he said, pledging that lawmakers will safeguard the national interest.

Similarly, Kofi Arko Nokoe, MP for Evalue Ajomoro Gwira and a member of the Energy Committee, welcomed the stakeholders’ concerns and gave assurances that parliament will act in the best interest of Ghanaians once the agreement is submitted.

How social engineering hacks your mind and your bank account

The Creatives Masterclass, organized by Afrikaba Production and led by Ronnie Ato Paintsil, has successfully taken place in Agona Swedru, empowering local creatives on harnessing digital power. The event, which was sponsored by Adepa Teachers Cooperative Credit Union, brought together a diverse group of artists, creatives, and industry experts to share knowledge, experiences, and insights.

The masterclass featured a lineup of expert speakers who delivered presentations on various topics relevant to the creative industry. Robert Abeku Ansah took the audience on a journey through the life and works of Mark Anthony, a legendary Ghanaian drawer from Agona Swedru, whose creative drawings inspired many concerts and music in Ghana in the 80s. This session was not only informative but also nostalgic, reminding attendees of the rich cultural heritage of Ghana.

Bismark Botctwey, aka Sintim, delivered a presentation on digital branding, highlighting the importance of establishing a strong online presence in today’s digital age. He shared practical tips and strategies on how creatives can leverage digital platforms to build their brand and reach a wider audience.

Richard Romeo Shamo Tetteh’s session on smart creativity explored the intersection of artificial intelligence (AI) and creativity. He demonstrated how AI can be used to enhance creativity skills, and how creatives can harness this technology to produce innovative and groundbreaking work.

Mclord Ice Impraim’s presentation on “Passion to Profession” was both inspiring and motivational. He shared his personal journey of turning his passion into a profession and offered practical advice on how creatives can do the same.

In a thought-provoking session, Joseph Acquaye, CEO of Adepa Teachers Cooperative Credit Union, discussed the importance of financial management for creatives. He highlighted the challenges many creatives face in managing their finances and planning for the future, particularly in Ghana where the creative industry can be unpredictable. He offered valuable insights and advice on how creatives can plan for their financial security, especially in their old age.

The event was moderated by MC Deefio, who kept the audience engaged and entertained throughout the day. The Creatives Masterclass was a resounding success, with attendees expressing their gratitude to the organizers and speakers for the valuable knowledge and insights shared.

Ronnie Ato Paintsil, CEO of Afrikaba Production, expressed his pleasure and appreciation to everyone who participated in and contributed to the success of the event. He promised to do more events in the future, further cementing Afrikaba Production’s commitment to empowering creatives in Ghana.

The Creatives Masterclass has set a new standard for creative events in Ghana, and its impact will be felt for a long time to come. As the creative industry continues to evolve, events like this will play a crucial role in shaping the next generation of Ghanaian creatives.