President John Dramani Mahama

President John Dramani Mahama has announced that Ghana’s total debt has been reduced by GH¢150 billion, largely due to the recent appreciation of the cedi.

According to the President, if this positive trend continues, Ghana could reach its debt sustainability target by the end of the year.

He made these remarks during a high-level presidential session at the 60th Annual Meeting of the African Development Bank (AfDB) and the 51st Annual Meeting of the African Development Fund (ADF) in Abidjan.

“If that trajectory continues, the target of reaching 55 to 58 percent debt sustainability by 2028 will be achieved by the end of this year. That gives us the fiscal space to begin investing in the most productive sectors of the economy,” President Mahama said.

Ghana’s local currency, the cedi, has appreciated by 24.1% against the US dollar over the past four months, driven by improved fiscal policies and strong global commodity prices.

The President noted that a weaker cedi typically leads to an increase in the country’s debt stock, emphasising the importance of a stable currency in managing national debt.

He reiterated his administration’s commitment to restoring economic stability and growth.

“We need to look inward, boost domestic revenue, cut wasteful government expenditure, fight corruption, and introduce stronger accountability in governance. That is the focus of my administration,” he said.

The AfDB Annual Meetings gather African leaders, policymakers, development partners, and financial institutions to discuss strategies for sustainable development and economic transformation across the continent.

SSD/MA

President Mahama unveils 8-pillar economic recovery plan

MP for Afigya Kwabre North, Collins Adomako-Mensah

The Minority in Parliament has called on the Minister of Energy, John Abdulai Jinapor, to appear before Parliament to explain how the over 1,300 ECG containers he claimed had gone missing from the Tema port have suddenly been found.

In a video snippet of a presser by the Minority shared on Metro TV’s X account on May 27, 2025, the Minority demanded answers to the issue which has courted public debate over the past few months.

“In a news item by the Daily Graphic on May 27, 2025, Ghanaians are being told that the missing containers have been retrieved but we vehemently reject this proposition. The containers were not retrieved, they have been found at the same port, they claimed it got missing at,” the MP for Afigya Kwabre North, Collins Adomako-Mensah, who led the Minority in the presser stated.

“We want the minister to appear before Parliament to explain to us how an earlier audit quoting over 1,300 ECG containers have now been found after investigations,” he said.

The Minority’s reaction comes on the heels of a disclosure by the Head of Communications for the Ministry of Energy and Green Transition, Richmond Rockson, stating that the missing containers have been located at various terminals within the Tema Port.

The disclosure which was premised on a joint investigative committee did not just trace the containers to Tema port, it put the total number of containers at 2,637, a figure which far exceeds the initially reported 1,300.

In an interview with 3News.com, on May 27, 2025, the Spokesperson and Head of Communications for the Ministry of Energy and Green Transition, Richmond Rockson, said the containers were located at various terminals within the Tema Port.

According to him, the probe, led by a committee comprising National Security, the Ministry of Transport, Ghana Ports and Harbours Authority (GPHA), and Customs, discovered the containers as of April 30, 2025, at the following locations:

860 at Meridian Port Services

1,237 at GPHA Terminals

272 already evacuated by National Security

194 at Amaris Terminal 20 at ATLAS Manufacturing Terminal

20 at ATLAS Manufacturing Terminal

Further analysis revealed that 2,437 containers had overstayed the 60-day clearance window and incurred excessive demurrage charges.

ECG is thus, expected to engage with port authorities to settle outstanding fees.

Meanwhile, the Chief of Staff Julius Debrah, has directed that all located containers be evacuated to ECG’s secured warehouses with a full inventory taken.

Watch video below:

Minority demands Energy Minister Jinapor appear before Parliament to explain how ECG’s missing containers were found — and why they exceed the 1,300 initially reported.#MetroNews pic.twitter.com/Bj3j62yR0p

— Metro TV Ghana (@metrotvgh) May 27, 2025

VPO/MA

By James Amoh Junior  

Accra, May 27, GNA – The Ministry of Foreign Affairs has announced the reopening of the Embassy of Ghana in Washington DC, United States of America, following a closure due to internal restructuring and investigations into alleged financial and administrative malpractices. 

In a statement, the Ministry disclosed that the Embassy would resume  operations on Thursday, May 29, 2025, after a comprehensive overhaul of its systems, led by a team of seasoned diplomats and an Information Technology (IT) task force. 

The reopening follows the recall of all home-based staff and the suspension of local staff amid concerns over integrity lapses and unauthorized activities within the Mission.  

The Ministry said the newly deployed team would work to restore transparency, ensure accountability, and complete the structural reforms initiated at the Mission. 

According to the statement, the IT team has already taken steps to reconfigure  the Embassy’s website and payment platforms to eliminate unofficial and unauthorized links that had compromised the system’s integrity. 

The Ministry emphasized its regret for the inconvenience caused to the public, particularly passport and visa applicants, and assured that measures had been implemented to clear the backlog of applications. 

This reopening comes in the wake of an earlier announcement by Mr Samuel Okudzeto Ablakwa, Foreign Affairs Minister who revealed that the Auditor-General had been invited to conduct a forensic audit of all financial and operational transactions at the Embassy.  

The aim, he noted, was to determine the full extent of the alleged fraud and assess the total cost to the State. 

Mr Ablakwa had indicated that the closure of the Mission was part of a wider system overhaul aimed at rooting out corruption and abuse of office.  

“Any inconvenience these radical measures may cause visa and passport applicants is regretted. President Mahama’s government will continue to demonstrate zero tolerance for corruption, naked conflict of interest, and blatant abuse of office,” he said at the time. 

The Ministry reaffirmed its commitment  to enhancing service delivery, safeguarding transparency, and protecting Ghana’s image internationally. 

GNA 

Edited by Christian Akorlie  

May 27, 2025 

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Prince Dornu-Leiku

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May – 27 – 2025 , 14:27

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Dr Matthew Opoku Prempeh is a former MP for Manhyia South

Former Member of Parliament for Manhyia South, Dr Matthew Opoku Prempeh, has urged Ghanaians to take a rational approach when comparing governments, arguing that short-term assessments fail to capture the broader economic picture.

Speaking to the media on Tuesday, May 27, 2025, as sighted by GhanaWeb Business, Dr Opoku Prempeh called for fair and constructive comparisons between governments, particularly when evaluating their performance.

He emphasised that a government that has been in office for just seven months cannot be accurately assessed against one that has served a full four-year term, noting that every administration experiences both progress and setbacks.

“Let’s allow rationality to sink in, and then we’ll see. You can’t compare a government that has been in office for seven months to one that has governed for four years,” he stated.

According to him, despite the cedi’s recent appreciation against the dollar by about 34%, the prices of goods continue to rise, which does not reflect a true improvement in the economy.

“The cedi has appreciated by about 34%, right? The dollar has come down. If you ask me, I should be very happy, but when goods and services that were priced when the dollar was at 15 cedis now have an even higher cedi equivalent than when the dollar was at 50 cedis, you begin to wonder what isn’t adding up,”

He further remarked, “Take a bag of cement, for example. It was 90 cedis before the elections. Now, it costs 140 cedis. Back then, the dollar was 15 cedis. Now, it is around 10 to 11 cedis, fluctuating daily. How do you justify a 90-cedi bag of cement when the dollar was 15 cedis, and then claim that things are getting better when the same cement now costs significantly more despite currency appreciation?”

It is too early to jubilate over the appreciation of the Ghana Cedis against the Dollar — Matthew Opoku-Prempeh pic.twitter.com/grLUa2TqUV

— ThisIsNeneOdompleh (@The1957News) May 27, 2025

SP/MA

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Ghana’s embassy in Washington, D.C. has been closed down temporarily to allow for investigations into alleged corrupt practices carried out by a staff of the embassy.

The corrupt practices, including illegal extra charges, which had been occurring for nearly five years, were uncovered by a special audit team who assembled a few months ago to investigate alleged corrupt practices at the embassy.

A statement issued yesterday under the hand of the Minister for Foreign Affairs, Mr Samuel Okudzeto Ablakwa, in Accra said all staff members posted to the Washington embassy had been recalled immediately whilst the embassy’s IT department has been promptly dissolved.

The statement mentioned that Mr Fred Kwarteng, a staff member from the embassy’s IT department, has been dismissed for creating an unauthorised section on the embassy’s website that diverted visa and passport applicants to his company, Ghana Travel Consultants (GTC).

“The illegal extra charges, which were not approved by the ministry and Parliament as required under the Fees and Charges Act, range from $29.75 to $60 per applicant. Investigations reveal that he and his collaborators operated this illegal scheme for at least five years.

This conduct has been reported to the Attorney General for possible prosecution and the retrieval of funds obtained through fraudulent schemes,” the statement read.

It further noted that all locally recruited staff at the embassy have been suspended.

“Ghana’s embassy in Washington, D.C., will be closed for a few days starting today as we finalise the ongoing restructuring and systems overhaul.

We regret any inconvenience these radical measures may cause visa and passport applicants,” it emphasised.

The statement also affirmed that President Mahama’s government will continue to uphold a zero-tolerance policy for corruption, conflict of interest, and blatant abuse of office.

By Isaac Kwaku Gyedu

Sefwi Wiawso (WN/R), May 27, GNA – Mr Wilbert Petty Brentum,  the Western North Regional Minister, says the 15 per cent reduction in transport fares will boost the economy by lowering the prices of goods and services across all sectors.  

Speaking to the Ghana News Agency in an interview, the Minister said the reduction was attributed to favourable microeconomic conditions, particularly the continuous appreciation of the cedi against the dollar, which had contributed to the drop in fuel prices.   

He said: “The fare reduction is expected to improve food prices since traders often factored transportation cost into their pricing, so they should support this initiative by adjusting their prices downward to reflect this significant progress.” 

Mr Brentum continued: “Under the leadership of President John Dramani Mahama, some economic policies have fostered a more favourable financial environment, allowing the currency to gain strength against other international currencies.” 

These policies, he added, had a direct and positive impact on the cost of imported goods, particularly fuel which was a critical component of the transport sector.   

He appealed to the leadership of the Ghana Private Road Transport Union (GPRTU) and other authorities to take actions against drivers who failed to comply with the directives. 

GNA 

Edited by Justina Paaga /Kenneth Odeng Adade 

Cedi moves to sell at GH¢10.35 against the dollar according to Bloomberg FX data

Ghana’s local currency, the cedi, has continued its upward trajectory, appreciating marginally to trade at GH¢10.35 to the US dollar as of 12:00 noon on May 27, 2025.

According to data from Bloomberg, this recent appreciation is part of a broader trend of currency stabilisation, supported by a combination of domestic policy reforms and favourable external conditions.

The Bank of Ghana, along with economic experts, have attributed the cedi’s strengthening to several key factors, including the establishment of the Ghana Gold Board, continued support from the International Monetary Fund (IMF), and tighter macroeconomic controls.

These measures have boosted investor confidence and contributed to the relative stability of the local currency.

Despite these positive developments, analysts caution that long-term stability depends on addressing deeper structural issues such as the country’s high import dependency and vulnerability to global commodity price fluctuations.

To sustain the cedi’s resilience, experts are urging the government to prioritise export diversification, implement more effective monetary policies, and maintain strict fiscal discipline.

SP/MA

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The demolition exercise at the Sakumono Ramsar site, which commenced on Tuesday, May 27, has been temporarily halted following concerns raised by the owners of the rented machines being used for the operation.

According to officials, the equipment, described as too lightweight, proved inadequate for pulling down many of the high-rise structures built on solid foundations. Additionally, the machines ran low on fuel, further disrupting progress.
The situation led to a confrontation between the coordinators of the demolition and the Chinese owners of the machinery, who were worried about potential damage to their equipment and insufficient fuel supplies.

Speaking to the media, Deputy Director-General of the National Disaster Management Organisation (NADMO), Ahmed Rufai, assured that the exercise will resume on Wednesday, May 28.

He confirmed that arrangements are being made to refuel the machines and address logistical concerns.

The demolition work began around noon but was brought to a standstill at approximately 3:12 p.m.

[Video] Linda Ocloo leads demolition of structures on waterways

The Volta Regional Police Command has arrested 26 suspects over drug-related offences.  

The arrest, made on Saturday, May 24, through an intelligence-led operation, was conducted at the Aflao border in the Volta Region. 

The suspects were arrested at various locations as part of efforts to clamp down on suspected drug peddlers and other related criminal activities in the area. 

Deputy Superintendent of Police (DSP) Felix Danku, Public Relations Officer, Volta Region in a release copied to the Ghana News Agency (GNA) said exhibits retrieved from the suspects included 20 wraps of substances suspected to be Indian hemp and 12 sachets of Tramadol tablets.  

He said other exhibits include a quantity of dried leaves believed to be Indian hemp contained in a rubber bucket, cash amounts of GH¢30,558.00 and 17,500 CFA, six drug-laced toffees, eight creams suspected to contain narcotic substances, and 26 compressed parcels of suspected Indian hemp concealed in a fertilizer sack. 

DSP Danku said the suspects were currently in police custody and would be arraigned before the court to face justice. 

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.

Dr Sa-ad Iddrisu is Economic Advisor to Dr Ato Forson, Minister of Finance

Dr Sa-ad Iddrisu, an Economic Advisor to finance minister Dr Ato Forson has predicted a single digit for the cedi against the dollar.

The US-based economist commended the Bank of Ghana and the Ministry of Finance for collaborating effectively to stabilise the cedi, which, according to him, will soon hit a single digit.

According to Dr Sa-ad Iddrisu, the cedi’s performance against the dollar and other major currencies in the world should be credited to the effective works of both the finance ministry and the Bank of Ghana and not any external factors.

He predicted a single-digit figure for the cedi against the dollar using the popular break the 8 mantra while reacting to comments from some elements within the NPP that the performance of the Ghanaian currency is only temporary.

“Given the effective policies implemented and the strong policy coordination between the Ministry of Finance and the Bank of Ghana, the cedi will no doubt break the 8 against the dollar,” Dr Sa-ad Iddrisu said.

Daniel Kwadwo Owusu is the Country Managing Partner, Deloitte

The Country Managing Partner of Deloitte Ghana, Daniel Kwadwo Owusu, has urged the government to assure business leaders that the recent appreciation of the cedi is not temporary.

According to him, some businesses remain uncertain about the future of the cedi.

“There are also issues with high utility tariffs, high transportation costs, and the general cost of doing business,” he stated at the 9th Ghana CEO Summit and Expo on May 26, 2025.

Speaking on the topic “Transforming Business and Governance for Ghana’s Economic Reset”, Owusu advised the government to avoid short-term measures that fail to create lasting stability in the absence of fundamental reforms.

He noted that a strong currency is beneficial, but it does not automatically lead to lower prices if domestic cost pressures, such as transportation and energy, are not addressed.

He also called for diversification of the economy, noting that Ghana remains overly reliant on gold and cocoa.

“Diversification will make our economy less vulnerable to those big global price swings,” he said.

“Looking back at 2017, after the IMF bailout programme, the cedi recovered for a time and inflation fell to about 11.8%. Interestingly, just as is happening now, consumer prices didn’t drop significantly,” he added.

“They stayed relatively high because of the deeper structural issues in the economy that have not been addressed,” he emphasised.

Meanwhile, Owusu urged businesses to respond proactively to changes in the economy.

He expressed concern about certain companies quoting foreign exchange rates that differ from those of the Bank of Ghana, stating that this is not reflective of a true economic reset.

“I am speaking to CEOs because there cannot be an economic reset unless we transform as a people,” he concluded.

SSD/MA

Removal of E-Levy will boost financial inclusion – BoG

File photo of a bus station

The Ghana Private Road Transport Union (GPRTU) has called on the Ministry of Transport to take immediate action and enforce compliance with the recent 15% fare reduction directive, warning of growing frustration among both drivers and passengers.

Speaking to GhanaWeb Business on May 27, 2025, the Public Relations Officer of GPRTU, Abass Ibrahim Moro, expressed concern over the failure of some operators, particularly floating drivers, to comply with the mandated reduction.

He stated that although these unaffiliated drivers operate within legal parameters, many have blatantly ignored the directive while authorities remain silent.

“If you look at LI 2180, under regulation 121, these floating drivers are all operating legally. And yet, they’ve remained quiet. Some of them have refused to comply with the 15% reduction, and the Transport Ministry is just watching them,” he said.

Moro urged the Ministry of Transport to publicly affirm that the 15% fare reduction is lawful and binding on all transport operators, including ride-hailing platforms and informal drivers.

“We are saying this again; the Transport Ministry must not remain silent. They need to make it clear that the 15% reduction is not illegal, it is now a directive that every transport operator must comply with. They shouldn’t wait until conflicts erupt between drivers and passengers before stepping in,” he emphasised.

He concluded by urging the Ministry to actively ensure enforcement saying, “the Transport Ministry must take charge and ensure the right thing is done.”

SP/MA

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The Lagos State Government has signed a waste management and processing concession with Ghana-based Jospong Group, taking a major step toward tackling environmental challenges in the state.

The agreement was formalised during a signing ceremony held in Alausa, Ikeja. It was signed by key state officials and Mr Joseph Agyepong-Siaw of the Jospong Group.

Gov. Babajide Sanwo-Olu, who witnessed the event, called the deal a strategic move aligned with Lagos State’s vision for improved environmental sustainability and economic opportunities.

“This partnership is more than a contract; it marks a bold move towards a cleaner Lagos and reflects our dedication to sustainable development,” Sanwo-Olu said.

He expressed confidence in the collaboration, stating it would help resolve ongoing waste issues and create thousands of jobs for residents across the state.

Sanwo-Olu also pledged his administration’s full support, saying the initiative offers a long-awaited solution to Lagos’s waste management challenges.

Commissioner for Environment and Water Resources, Tokunbo Wahab, said Jospong was chosen after a thorough review of its proposal and demonstrated capability in waste processing solutions.

“Their strong proposal, proven track record, and understanding of our challenges made them the right choice for this critical project,” Wahab stated.

Agyepong-Siaw praised the Sanwo-Olu administration and pledged Jospong’s commitment to delivering the project on schedule and to high standards.

“We are honoured by Lagos State’s trust. We will deliver in 18 months and ensure technology and skills are transferred to Nigerian professionals,” he said.

He added that the company will build two transfer stations with infrastructure to support recycling and processing, creating over 5,000 direct and indirect jobs.

The project will be implemented by Zoomlion Nigeria Limited, the local subsidiary of the Jospong Group.

The News Agency of Nigeria (NAN) reports that Lagos State Attorney-General and Commissioner for Justice, Lawal Pedro (SAN), signed on behalf of the state. (NAN)

The suspended Chief Justice, Gertrude Torkornoo

The Supreme Court has scheduled Wednesday, May 28, 2025, to hear an injunction application filed by suspended Chief Justice Gertrude Torkornoo, seeking to halt proceedings by a five-member committee investigating petitions for her removal from office.

The interlocutory injunction, filed on May 21, 2025, aims to restrain the committee, constituted by President John Dramani Mahama, from continuing its work until the case is fully resolved.

Chief Justice Torkornoo is also requesting the apex court to bar two of its own justices, Gabriel Scott Pwamang and Samuel Kwame Adibu-Asiedu, from participating in the hearings, citing concerns over impartiality.

In her affidavit, she argued that Justice Pwamang had previously adjudicated cases involving Daniel Ofori, one of the petitioners, and should not be part of a panel reviewing a petition to which he is a party.

She further contended that Justice Adibu-Asiedu had served on a Supreme Court panel that reviewed a related injunction application, potentially compromising his neutrality.

In addition, Justice Torkornoo questioned the constitutionality of the committee’s composition. She challenged the eligibility of its three remaining members, Daniel Yao Domelovo, Major Flora Bazwaanura Dalugo, and Professor James Sefah Dzisah, citing potential breaches of Articles 146(1), (2), (4), 23, and 296 of the Constitution, as well as the Oaths Act of 1972.

In a supplementary affidavit filed on May 26, 2025, she alleged that her fundamental rights were being violated.

According to her, the committee ignored the pending court case and continued to schedule hearings.

She also claimed she was subjected to distressing conditions during her appearance before the committee, including being searched, having her electronic devices confiscated, and being denied entry alongside her spouse and children.

Additionally, she raised concerns about the committee’s decision to permit third parties to testify on behalf of the petitioners rather than requiring the petitioners to present their own evidence.

In an affidavit filed the same day, Attorney General Dominic Akuritinga Ayine opposed the injunction, asserting that there is no legal basis to disqualify the two Supreme Court justices.

He also rejected claims that the committee members failed to take the required oaths, insisting they had fulfilled all necessary legal obligations.

The Supreme Court has already dismissed four suits challenging the petitions seeking the Chief Justice’s removal.

Following a determination of a prima facie case in three separate petitions, President John Dramani Mahama suspended Chief Justice Gertrude Torkornoo and established a five-member committee to investigate the matter.

In the interim, Supreme Court Justice Paul Baffoe-Bonnie has assumed the role of acting Chief Justice. His appointment aligns with Article 144(6) of the 1992 Constitution, which states that the most senior Justice of the Supreme Court shall act as Chief Justice when the position becomes vacant or when the incumbent is unable to perform their duties.

JKB/MA

Watch as Parliament reconvenes after Easter recess:

No fare cuts for Uber, Bolt, Yango users

Commuters relying on ride-hailing services in Ghana should not expect fare reductions anytime soon, according to the Ghana Online Drivers Union (ODU).

Despite the recent appreciation of the cedi and falling fuel prices, operators of platforms like Uber, Bolt, and Yango say they are not in a position to cut fares.

This development comes on the heels of a 15% fare reduction announced by the Ghana Private Road Transport Union (GPRTU) for public transport services.

However, the Online Drivers Union says the reduction does not apply to ride-hailing platforms, citing a lack of consultation and formal recognition.

Speaking to CitiNewsroom, ODU President Francis Tengey said the union was excluded from negotiations between the GPRTU and the Ministry of Transport. As a result, the directive to lower fares does not reflect the reality of the ride-hailing sector.

“What the GPRTU did does not include us because we have not been consulted. We are not part of them. We have a union, but our union is not recognised by the GPRTU or the Trade Union Congress (TUC),” he said.

Tengey noted that although ODU has applied for TUC affiliation since 2021, the process remains incomplete, leaving ride-hailing drivers without official representation in major transport policy discussions.

While public transport fares are set to decline, ride-hailing prices remain unchanged, frustrating commuters who feel overlooked despite broader economic improvements.

Tengey also defended the fare structure, citing high vehicle maintenance costs and ongoing fuel price volatility.

“Uber, Bolt, and Yango do not recognise the GPRTU, so its decisions do not affect us,” he explained. “As unions and drivers’ representatives, we were not part of the meeting that decided the 15% reduction. So our customers cannot enjoy that reduction.”

The union is now calling on the government to urgently regulate the ride-hailing sector and formally recognise the Ghana Online Drivers Union.

Tengey urged the Ministries of Transport and Employment to intervene, stressing that recognition would allow the union to advocate for both drivers and riders.

“We are pleading with the government through the Ministry of Transport and the Ministry of Youth and Employment to come together to regulate the sector and recognise the union,” he said.

“Once we’re recognised, fare-related decisions can come directly from us.”

Consumer advocacy group CUTS International is also supporting the call for change. The organisation argues that Ghanaians should benefit from positive economic indicators such as currency gains and falling fuel prices.

They are urging local authorities to hold transport operators accountable and enforce price adjustments when appropriate.

NAD/MA