play videoParliament is considering the Energy Sector Levy Amendment Bill 2025 under a Certifcate of Urgency

Parliament is set to approve an increment in the Energy Sector Levy, raising it to GH₵1 per liter of petroleum products.

The Energy Sector Levy Amendment Bill 2025, according to the Minister for Finance, Dr Cassiel Ato Forson is aimed at bolstering revenue for energy sector reforms.

The proposed hike, part of the government’s fiscal strategy, seeks to address funding gaps in power generation and distribution.

The minister presenting the bill on Tuesday, June 3, 2025, argued that it will stabilize the sector.

The bill introduced under a Certificate of Urgency is expected to pass following debates.

Watch the proceedings below:

The Black Queens suffered defeat in their final friendly on the Abidjan tour on Tuesday evening. 

Kim Lars Bjorkegren’s side were undone by a second half time by their hosts as they lost 1-0 at the end of the game. 

Ghana came into the fixture hoping to take a win in the game having thrown away a two-goal lead in the first encounter to draw 3-3 last week. 

The Swede boss made two changes to the starting lineup with Jennifer Cudjoe and Alice Kusi all coming into the team. 

The Black Queens enjoyed a good spell of possession in the opening minutes of the game before the Ivorians took command thereafter. 

Les Elephants took the game to the Ghanaians as they possessed and threatened every time they surged forward. 

Goalkeeper Cynthia Konlan came to the rescue of the team several occasions in the game. 

However, she was unable to stop Habibou Ouedraogo’s strike in the 56th minute as Ghana conceded their fourth goal in two games against Côte d’Ivoire. 

The Black Queens were unable to get back on level terms as the Ivorians picked up the win. 

The result leaves Ghana with just one win in their last five games under Bjorkegren, scoring four and conceding six goals in that run. 

The game was part of the team’s preparations for the delayed 2024 Women’s Africa Cup of Nations tournament to be staged in Morocco next month.

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Vice President of IMANI Africa, Bright Simons, has entered an appearance in the high-profile GH¢10 million defamation lawsuit filed against him by businessman Ibrahim Mahama at the Accra High Court, setting the scene for a real battle.

In a strategic legal manoeuvre, Mr Simons has filed a comprehensive motion demanding that Mr Mahama and his company, Engineers & Planners (E&P), formally admit to 38 distinct facts central to their ongoing legal dispute.

The detailed motion filed at the High Court aims to establish critical background on Mr. Mahama’s extensive business operations, his significant political connections, and intricate financial interests, particularly within Ghana’s lucrative mining sector.

Mr Simons’ legal team has granted the plaintiffs a 14-day window to respond to these assertions, which span a wide array of topics from Mr. Mahama’s designation as a politically exposed person (PEP) to highly specific financial and contractual relationships involving E&P.

Among the key admissions sought by Mr Simons is the acknowledgement that Ibrahim Mahama serves as the sole shareholder of Engineers & Planners.

The motion also highlights his direct familial link to the highest office, identifying him as the brother of President John Dramani Mahama.

Furthermore, it points to his classification as a “high-risk politically exposed person” by the offshore legal firm Appleby in a 2013 transaction concerning the registration of Red Sky Aviation in the Isle of Man, a detail that could carry weight in the court’s assessment of his public standing.

A significant portion of the motion focuses on E&P’s contracts with Abosso Goldfields Limited.

Mr Simons is pressing the court to compel an admission that these contracts, valued at an estimated $117 million between 2015 and 2019, and a staggering $300 million from 2020 to 2025, represent some of E&P’s largest revenue streams both domestically and globally.

The motion specifically claims that income derived solely from the Damang Gold Mine is projected to constitute at least 25% of the company’s total mining revenue over the past decade.

The legal document further alleges that E&P has ceased receiving payments from Abosso Goldfields since mining operations at Damang were suspended in 2023.

Consequently, Mr Simons posits that E&P has engaged in critical discussions with various financial institutions, including Stanbic Ghana, regarding loan servicing challenges.

The motion asserts that E&P has secured loans exceeding $50 million from Stanbic and entered into a $230 million equipment financing agreement with the Mansour Group, primarily for Caterpillar machinery.

Other crucial admissions being sought include E&P’s unsuccessful bid to acquire Cardinal Namdini Mines in Bolgatanga, the company’s current efforts to secure financing for additional mining assets, and the notable employment of former E&P personnel in senior leadership roles within the Minerals Commission, Ghana’s primary mining regulatory body.

This extensive demand for admissions forms part of Mr Simons’ defence against the defamation suit initiated by Ibrahim Mahama.

The businessman alleges that a series of “false and malicious” publications by the IMANI Africa Vice President have severely damaged both his personal reputation and the corporate image of Engineers & Planners.

The outcome of this motion could significantly shape the trajectory and ultimate verdict of this high-profile legal battle.

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The Ashanti Regional Director of Communications for the New Patriotic Party (NPP), Paul Yandoh, has made a passionate appeal to the party’s grassroots and sympathisers to reignite their loyalty and support, amid signs of declining enthusiasm within the party’s traditional strongholds.

His comments come in the wake of what he described as a visibly low turnout of party members at the Economic and Organised Crime Office (EOCO) during the recent detention of the NPP’s Ashanti Regional Chairman, Bernard Antwi Boasiako, popularly known as Chairman Wontumi.

Chairman Wontumi was granted bail after meeting conditions including a GHS50 million bond with two sureties. However, his release drew less support from the party base than expected, a situation Yandoh said reflects wider concerns at the grassroots level following the party’s performance in the 2024 general elections.

Speaking on Channel One Newsroom on Tuesday, June 3, Yandoh admitted the party had fallen short in addressing internal grievances and urged members to give the NPP another chance.

“Indeed, there are grassroots challenges. You saw it in the 2024 polls. We had a low turnout by the NPP members, and we continue to plead with them. NPP is the only party that can help Ghana, and so whatever has transpired, we are sorry; they should forgive us and forgive the party,” he said.

Yandoh acknowledged the disappointment and disaffection among the party’s support base but maintained that the NPP remains Ghana’s best hope for economic recovery and governance.

“The turnout was low, which is expected. We just came out of the elections, and there are issues to deal with. Until those issues are dealt with, we will continue to have that,” he added.

His remarks signal growing concern within the NPP over waning enthusiasm in the party’s base, particularly in the Ashanti Region, which has long been regarded as the party’s electoral heartbeat.

Govt seeks GH¢1 fuel levy hike to save energy sector

Players of Ivory Coast and Ghana during a game

The Black Queens of Ghana face Ivory Coast in an international friendly on Tuesday, June 3, 2025, as part of their build-up to the 2024 Women’s Africa Cup of Nations (WAFCON).

The game is set to be played at the Stade Félix-Houphouët-Boigny in Abidjan.

Head coach Kim Lars Björkegren is leading the team’s preparations for the continental tournament, set to take place in Morocco later this year.

The game forms part of a strategic series of friendlies that began in March, which is aimed at sharpening the squad.

Watch and follow live updates of the game below:

FKA

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The Minister of Finance and Member of Parliament (MP) for Ajumako-Enyan-Esiam, Dr Cassiel Ato Forson, has laid before Parliament a bill seeking to amend the Energy Sector Levies Act, 2025.

The bill, titled the Energy Sector Levies (Amendment) Bill, 2025, proposes an upward adjustment in the Energy Sector Shortfall and Debt Repayment Levy to raise additional revenue to support the payment of energy sector arrears, reduce legacy debt, and ensure stable power supply across the country.

The bill was formally read for the first time in the House and has since been referred to the Finance Committee for consideration and report. It was laid under a certificate of urgency.

Explaining the rationale behind the bill, Dr Forson told Parliament that the energy sector currently posed the greatest economic and fiscal threat to the country, warning that failure to address its mounting challenges could result in a full-blown crisis.

“The total energy sector debt as at the end of March 2025 stands at $3.1 billion. This amount includes debts owed to Independent Power Producers (IPPs), State-Owned Enterprises (SOEs), fuel suppliers, and other stakeholders,” he said. 

Energy situation 

Dr Forson emphasised that the nation’s inability to honour its financial obligations to key players such as ENI and Karpowership resulted in the complete drawdown of two critical guarantees in 2024: a $512 million IDA guarantee from the World Bank and a $120 million guarantee from the Ghana National Petroleum Corporation (GNPC). 

The government, he said, would now need $632 million to restore those guarantees.

He further stated that a minimum of $3.7 billion is required to clean up the energy sector’s overall indebtedness and reset the sector on a more stable path.

Highlighting the shift in the country’s electricity generation mix, Dr Forson said the country now heavily relies on thermal power to supplement hydroelectric sources. 

However, he revealed that the cost of liquid fuel for thermal generation was not currently factored into electricity tariffs, resulting in revenue shortfalls.

He further stated that including fuel costs in the current electricity pricing structure could lead to a 50 per cent hike in tariffs, which would significantly burden households and businesses. 

No extra cost 

Therefore, the proposed levy increase, he explained was a more balanced alternative that would avoid passing costs directly onto consumers.

“This levy will serve as a dedicated source of funding to the power sector, and the proceeds will be earmarked for the procurement of essential fuel for power generation,” he said.
Dr Forson assured the House that the impact of the new levy on petroleum prices would be neutralised by the strong performance of the Ghana cedi, ensuring that ensuring that consumers would not pay extra for petrol or diesel beginning today.

“Mr Speaker, I repeat, the impact will be absorbed by the gains made from the strong performance of the Ghana cedi, and this will mean that consumers will not have to pay extra for the price of petrol and diesel beginning today. Our simulations suggest that there will be no increase in the ex-pump price of petrol and diesel in the next window, beginning today, if the levy is imposed,” he stated categorically.

The Executive Secretary of the Chamber of Petroleum Consumers (COPEC), Duncan Amoah, has cautioned the government against introducing new levies on petroleum products, warning that such a move could derail the economic stabilisation efforts currently underway.

Speaking on Citi Eyewitness News on Tuesday, June 3, in response to the Energy Sector Levy Amendment Bill laid before Parliament by the Finance Minister, Mr. Amoah described the proposed GH¢1 increase in fuel levies as potentially counterproductive.

“But to say that we should go and collect new taxes on petroleum products at this point, when the same government seems to have done everything right, I think it will be shooting itself in the foot and will be adding unnecessary pressure. So clearly, further thinking should go into this,” he said.

Duncan Amoah cautioned that introducing new taxes at this point could worsen the burden on Ghanaians, especially when deeper issues affecting the energy sector remain unresolved.

“For me, whatever we need to do to stop the bleeding of the power sector, I think that should be our key focus at this point. You cannot continue to pour water in a leaking bucket, so we need to resolve the issues crippling the power sector,” he said.

Amoah emphasised that addressing the root causes of inefficiencies in the energy sector is critical before raising funds from consumers.

“The earlier we put a stop to the bleeding of that sector, the better. I think the government should go and think through this appropriately because it could create a whole mess for the country itself,” he warned.

Meanwhile, Finance Minister Dr. Cassiel Ato Forson, while laying the bill before Parliament, explained that a minimum of $3.7 billion is required to clear energy sector debts, which currently stand at GHS3.1 billion. An additional $1.2 billion is needed to procure fuel for thermal power generation throughout 2025.

He assured Parliament that the proposed levy’s impact would be mitigated by the recent gains made by the local currency.
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Elon Musk hit out at President Donald Trump’s “big, beautiful” tax and spending bill, posting on X that he “can’t stand” the legislation and describing it as a “disgusting abomination”.

The bill – which includes multi-trillion dollar tax breaks and increased defence spending while also allowing the US government to borrow more money – was passed by the House of Representatives in May.

On X, Musk said those who voted for to pass the bill are “wrong”.

Musk had previously said the bill, one of Trump’s signature policies, was “disappointing” because he believed it undermined the cost-cutting work of the team he headed until recently, known as Doge.

Doge stands for Department of Government Efficiency, even though the team is not a cabinet-level agency.

The South African-born tech billionaire’s time in the Trump administration came to an end on 31 May, although Trump said that “he will, always, be with us, helping all the way”.

The bill in its current form has been estimated to increase the budget deficit – the difference between what the government spends and the revenue it receives – by approximately $600bn (£444bn) in the next fiscal year.

In a series of posts on X on Tuesday, Musk said that the “outrageous, pork-filled” spending bill will “massively increase the already gigantic budget deficit to $2.5 trillion (!!!) and burden America [sic] citizens with crushingly unsustainable debt.”

In American politics “pork” refers to spending measures that lawmakers tack onto legislation to narrowly benefit their constituencies.

Asked about Musk’s comments soon after the first post, White House Press Secretary Karoline Leavitt said that “the President already knows where Elon Musk stood on this bill”.

“This is one, big, beautiful bill,” she added. “And he’s sticking to it.”

The legislation also pledges to extend soon-to-expire tax cuts passed during the first Trump administration in 2017, as well as an influx of funds for defence spending and to fund the administration’s mass deportations of undocumented immigrants.

Additionally, it proposes lifting the limit on the amount of money the government can borrow, known as the debt ceiling, to $4tn.

The comments from Musk reflect wider tensions among Republicans over the plan, which faced stiff opposition from different wings of the party as it worked its way through the House. The Senate has now taken it up, and divisions already emerging in the Republican-controlled chamber.

Senator Rand Paul, a Kentucky Republican, over the last few days has said he will not support the bill if it includes the provision to raise the debt ceiling.

“”The GOP [the Republican Party] will own the debt once they vote for this,” he told CBS News, the BBC’s US partner, over the weekend.

Trump responded to Sen Paul with a series of angry social media posts, accusing him of having “very little understanding of the bill” and saying that the “people of Kentucky can’t stand him”.

“His ideas are actually crazy,” Trump wrote.

Trump and Republicans in Congress have set a deadline of 4 July to get the “big, beautiful bill” passed and signed into law.

Musk’s posts on the platform he owns also suggest he shares a rift with Trump, whom he helped get elected in last year’s November election with donations of more than $250m.

To make peace with spending hawks, Trump is also asking Congress to pass a plan that would reduce current spending by $9bn and which is reportedly based on Doge’s work.

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.

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Inspector-General of Police, Christian Tetteh Yohuno

The Minister for Lands and Natural Resources, Armah-Kofi Buah has commended the Inspector-General of Police, Christian Tetteh Yohuno and the Ghana Police Service for the immense efforts in the fight against illegal mining.

Speaking at the Global Mining Summit on Monday, June 2, 2025, the minister noted that the IGP and the Ghana Police Service and other security agencies have contributed immensely in pushing back on the activities of illegal miners and safeguarding our water bodies.

Over the past two months, the Ghana Police Service has waged a relentless war against illegal mining in the country.

In Samreboi and surrounding communities alone, a special Police Anti-galamsey Taskforce constituted by the IGP has retrieved over one hundred (100) excavators, some buldozers, weapons and Chanfang machines among several other exhibits.

Several arrests have been made and the suspects involved are being taken through the due process of law. Similar anti-galamsey operations have been carried out in other areas including the Ashanti, Eastern, Western, Central and the Upper West Region.

The Ghana Police Service in a recent released highlighted their commitment to intensify the fight against illegal mining as it works together with other stakeholders to ensure the protection of water bodies and other natural resources.

KA

Dr Ato Forson after signing the grant agreement with Japan

Ghana and Japan have signed a grant agreement valued at ¥402 million (equivalent to GH¢28.619 million) under the Japanese Grant Aid for the Human Resource Development Scholarship (JDS) Programme.

The Ministry of Finance held the signing ceremony on June 3, 2025, as it marks the launch of the third batch of the fourth phase of the programme.

The Minister of Finance, Dr Cassiel Ato Forson, noted that the programme aligns with Ghana’s ongoing efforts to strengthen institutional capacity and build a resilient, knowledge-driven public sector.

Dr Forson also provided updates on Ghana’s economic outlook.

He stated that Ghana’s sovereign credit ratings are expected to improve soon, reflecting the country’s progress toward economic recovery.

Executive Senior Vice President of the Japan International Cooperation Agency (JICA), Miyazaki Katsura, who led the Japanese delegation, acknowledged Ghana’s request and reaffirmed Japan’s commitment to long-term development cooperation.

She emphasised the strategic importance of the JDS Programme in preparing Ghanaian professionals for leadership and institutional reform.

The ceremony concluded with the signing of the grant agreement, reinforcing the strong bilateral partnership between Ghana and Japan and paving the way for expanded cooperation in both human capital and infrastructure development.

SSD/AE

Finance Minister Dr Cassiel Ato Forson has sparked controversy in Parliament with the introduction of the Energy Sector Levy Amendment Bill under a certificate of urgency to impose new taxes on petroleum products.

The bill, submitted under a certificate of urgency, if approved, will impose fresh taxes on all petroleum products, which Finance Minister Cassiel Ato Forson says is necessary to clear an alarming US$3.1 billion energy debt as of the end of March 2025.

Crucially, Dr Ato Forson assured Parliament today, June 3, that, despite the increment, consumers would not immediately feel the impact at the pumps, attributing this cushioning to the robust performance of the Ghana Cedi.

The Minister detailed the dire financial state of the energy sector, revealing that the US$3.1 billion debt includes significant arrears owed to Independent Power Producers (IPPs), various State-Owned Enterprises (SOEs), and crucial fuel suppliers.

A major contributor to this crisis, he noted, was the non-payment of bills to key power providers like ENI and Karpowership.

This led to the complete drawdown of a US$512 million World Bank IDA guarantee and a US$120 million GNPC guarantee in 2024, leaving the government in urgent need of an additional US$632 million to restore these vital guarantees.

“To help raise additional revenue to fund the needs in the power sector, the government is proposing an increase in the ex-pump price of petrol, diesel and related products,” Dr. Forson stated before Parliament.

However, the Finance Minister moved swiftly to allay fears of immediate cost escalation for consumers.

“Mr. Speaker, I repeat,” he emphasised, “the impact will be absorbed by the gains made from the strong performance of the Ghana Cedi and this will mean that consumers will not have to pay extra for the price of petrol and diesel beginning today.”

He further added, “Our simulations suggest that there will be no increase in the ex-pump price of petrol and diesel in the next window beginning today if the levy is imposed. This is because of a strong Ghana Cedi.”

Dr. Forson clarified that the new levy is designed as a dedicated source of funding for the beleaguered power sector.

Proceeds from the levy will be specifically earmarked for the procurement of essential fuel necessary for consistent power generation.

This, he explained, is fundamental to ensuring Ghana enjoys a stable electricity supply, given that “the current electricity tariffs paid by consumers do not include the cost of fuel used for the power generation.”

The decision to implement this levy on petroleum prices, according to the Minister, represents a strategic balance between ensuring an uninterrupted and reliable power supply for the nation and promoting the long-term financial sustainability of Ghana’s energy sector.

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.

By Rihana Adam 

Accra, June 03, GNA- Mr. Ivan Bruce–Cudjoe, the Chief Executive Officer (CEO) of Cabic Promotions and Management has formally filed his nomination to contest the upcoming Ghana Boxing Authority (GBA) Presidential election. 

The GBA is set to hold its elective congress on July 12, 2025, where new leaders would be elected to spearhead the affairs of the authority for the next four years. 

Mr. Bruce – Cudjoe was accompanied by Mr. Ellis Quaye, Director of Cabic Promotions who is contesting for Second Vice President position, Mr.  Gideon K. Oyiadzo and Mr. Johnny Gordon also vying as Executive Board Members.  

They handed their forms, paid their filing fees and other relevant requirements to the Acting Secretary, Madam Mimi Brown at the GBA office, Trust Sports Emporium in Accra.  

Mr. Bruce – Cudjoe expressed confidence in his bid to win the Presidential race but was however disappointed with delay in release of the voters list. 

He urged the GBA to make available the voter list to candidates who have filed for various positions ahead of the crucial elections on July 12, 2025. 

The positions to be contested are President, First Vice President, Second Vice President, Treasurer and Executive Members. 

GNA  

Edited by Kenneth Odeng Adade 

Sammy Gyamfi is the CEO of Goldbod

The Chief Executive Officer of the Ghana Gold Board, Sammy Gyamfi, has announced that GoldBod has purchased and exported gold from the Artisanal Small-Scale Mining (ASM) sector to the tune of GH¢40 billion, with an export value of approximately $4 billion.

According to him, this is the first time gold exports from the ASM sector have exceeded those from the large-scale sector.

He stated that this occurred from February to May 2025, following the transformation of the Precious Minerals Marketing Company (PMMC) into GoldBod.

Speaking at the Mining in Motion Summit in Accra on Tuesday, June 2, 2025, Sammy Gyamfi said that regulatory measures instituted by GoldBod have contributed to the fight against gold smuggling, enabling the recovery of some gold for the sector.

“From February 2025 to May 2025, PMMC, now GoldBod, on its own, has purchased and exported gold for the Bank of Ghana from the Artisanal Small-Scale Mining sector to the tune of GH¢40 billion, with an export value of approximately $4 billion. Indeed, the total gross weight of ASM gold exported either by or through PMMC, now GoldBod, from January to May 2025, stands at a whopping 41.5 tonnes,” he stated.

To further strengthen regulatory oversight of the sector’s activities, Gyamfi disclosed that GoldBod has begun licensing players in the gold trading sector to promote sourcing and traceability.

“GoldBod is committed to tapping into and maximizing the full potential of the Artisanal Small-Scale Mining sector by supporting sustainable artisanal mining and promoting responsible sourcing by all gold traders in the ASM sector. Our license categories range from aggregation licenses to buying licenses, refining licenses, smelting licenses, transportation licenses, export partnership licenses, among others.

“Before the end of this year, GoldBod will roll out a digital traceability technology for its entire supply chain. This traceability system will enhance market access and the value of the country’s ASM gold. In the medium to long term, it will ensure that every gram of gold purchased by GoldBod is traceable throughout its various custody points, all the way to the mine where it was produced,” he added.

SP/AE

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The police have arrested a taxi driver in the Greater Accra Region after discovering large quantities of suspected cannabis concealed in fertilizer sacks.

The arrest occurred on Monday, June 2, 2025, during a special intelligence operation by the National Highway Patrol Unit of the Ghana Police Service.

The suspect, identified as Ernest Mohammed Adjiri, was driving a Hyundai i10 taxi with registration number GW 9832-22 when officers stopped him. 

A search of the vehicle revealed three fertiliser sacks containing 120 slabs of compressed dried leaves believed to be cannabis.

According to the police, Mr Adjiri admitted during interrogation that the items belonged to him.

He is currently in police custody and is expected to be put before the court.

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.

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Nana Addo Dankwa Akufo-Addo (R) and Asantehene, Otumfuo Osei Tutu II when the king visited

The former President, Nana Addo Dankwa Akufo-Addo, has expressed appreciation to the Asantehene, Otumfuo Osei Tutu II, for his enduring support and statesmanship, particularly during his tenure.

In a post shared on his X page, he wrote, “On Tuesday, June 3, 2025, the Asantehene, Otumfuo Osei Tutu II, led an impressive delegation of Chiefs and noblemen from Asanteman to pay a courtesy call on me at my residence in Nima, Accra.

“I extended to him my deepest appreciation for his guidance and support throughout the time I was at the helm of this country, key amongst which was his contribution, as Chairman of the Committee of Eminent Chiefs, which included the Yagbonwura and the Nayiri, towards the peace in Dagbon.”

The former president revealed that he has a longstanding relationship with the Asantehene.

“The Otumfuo and I have charted a trajectory of longstanding ties of friendship and cooperation from our formative periods, and such ties have grown even more stronger with the passage of time,” he noted.

The Asantehene paid a courtesy call on the former president at his residence on Tuesday, June 3, 2025.

See the post below:

On Tuesday, 3rd June, 2025, the Asantehene, Otumfuo Osei Tutu II, led an impressive delegation of Chiefs and noblemen from Asanteman to pay a courtesy call on me at my residence in Nima, Accra.

I extended to him my deepest appreciation for his guidance and support throughout… pic.twitter.com/6wWyzgUVDy

— Nana Akufo-Addo (@NAkufoAddo) June 3, 2025

JKB/AE

Watch Wontumi appear unsteady after release from EOCO custody

President John Dramani Mahama

President John Dramani Mahama has stated that the real value of the cedi lies between GH¢10 and GH¢12.

He emphasised that despite the cedi’s current performance, there needs to be a fair balance to sustain the economy.

According to him, the Minister for Finance and the Governor of the Bank of Ghana are working to ensure that the cedi’s appreciation is balanced in terms of both demand and supply.

Speaking on June 3, 2025, President Mahama said, “The recent appreciation in the value of the cedi is something we’ve been monitoring closely. As the cedi began to strengthen and the dollar depreciated, we knew from basic A-level economics that this is a balance between imports and exports. What this means is that imports become cheaper, while exports become more expensive.”

He noted that the Economic Management Team has determined a realistic valuation for the cedi, cautioning that the currency cannot appreciate to GH¢4 or even GH¢1, as some have speculated.

“There must be a fair balance to reflect the true value of the cedi. Some people say, ‘Oh, it will come down to four,’ but of course, we know the true value is not GH¢4. If it went that low, it would destroy our export businesses. That’s why I met with the Governor of the Bank of Ghana and the Finance Minister, and we all agreed that the cedi’s real value lies somewhere between GH¢10 and GH¢12.”

The President further stated that this range ensures a sustainable economic environment and prevents the cedi from falling below GH¢12.

“Fortunately, the recent forex auction has pushed the rate slightly above GH¢10, and it appears to have stabilized there. Going forward, I believe anything between GH¢10, GH¢11, and GH¢12 provides a fair value. It encourages our exports while ensuring that imports don’t become so cheap that they flood our markets with toothpicks, biscuits, coconuts, and other non-essential items.”

While the appreciation of the cedi has made imports cheaper, President Mahama cautioned importers to be responsible and not oversaturate the market with foreign goods at the expense of local products.

“This is a call to our exporters to take advantage of the cedi’s appreciation. Raw materials are now cheaper, fuel prices have dropped, transportation costs are lower, and port charges have reduced. These are clear incentives for export growth.

“But I’m also urging importers not to exploit the situation by flooding our markets with things like Nkatie burger and similar imports. Let’s focus more on import substitution. Let’s produce as many of the goods we import right here in Ghana,” he said.

SSD/MA

Dr Kingsley Agyemang and Anne Sansa Daly

Member of Parliament for Abuakwa South, Dr Kingsley Agyemang, has urged Anne Sansa Daly to consider pursuing formal medical education if her passion for healthcare is genuine, amid concerns over her lack of a valid medical license to practice in Ghana.

Speaking in a recent interview on Oyerapa TV, he advised that the state should adopt a more constructive approach in addressing the controversy surrounding her.

“If it is true that Anne is not a medical doctor, she has every opportunity to enroll in medical school. If she desires to become a doctor, she can focus on that dream and achieve it. Why can’t we support her to become a medical doctor in the next seven or eight years?

“She can be in medical school even while serving a prison term. Let us use the cohesive power of the state to help her,” he added.

According to the lawmaker, people’s passions and intentions matter, and if her ambition is genuine, it could be channeled to save lives in the future.

“If she indeed becomes a doctor, many lives can be saved,” he added.

President John Dramani Mahama has revoked the appointment of Anne Sansa Daly as a member of the Board of the National Health Insurance Authority (NHIA).

The revocation followed public uproar over her alleged false claims of being a medical doctor.

A letter dated May 23, 2025, signed by the Secretary to the President, Callistus Mahama, and addressed to the Minister of Health, Kwabena Mintah Akandoh, confirmed the decision.

“I write to inform you that the President of the Republic has, with immediate effect, revoked the appointment of Anne Sansa Daly as a member of the Board of the National Health Insurance Authority. The President has nominated Prof. Dr. (Med) Ernest Yorke to replace her,” the statement read.

Meanwhile, the Ranking Member of Parliament’s Health Committee, Dr Nana Ayew Afriye, has formally requested the Ghana Medical and Dental Council (GMDC) to verify the medical credentials of Anne Sansa Daly.

Watch the interview below:

JKB/MA

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