President John Dramani Mahama addressed the nation on Wednesday, May 7

President John Dramani Mahama has announced that the government is finalising an incentive package for businesses under the 24-Hour Economy policy, marking a major step in the policy’s implementation.

Addressing the nation on Wednesday, May 7, 2025, to commemorate his first 120 days in office, President Mahama said the Minister of Finance and the Presidential Advisor on the 24-Hour Economy were completing works on a set of incentives targeted at enhancing business participation.

Among the measures outlined is a collaboration between the Minister of Energy and Green Transition, and the Public Utilities Regulatory Commission (PURC) to introduce smart metering and a Time of Use (ToU) tariff regime to offer lower electricity rates during off-peak hours, thereby incentivising businesses to operate around the clock.

“We promised to commence drafting the needed legal amendments and prepare for implementation within the first 120 days and we have delivered on that promise,” Mahama announced.

As part of the initial rollout, he said several government institutions have already transitioned to 24-hour operations.

“The Ghana Investment Promotion Centre has introduced 24-hour premium services to eliminate processing delays for investors. The Ministry of Foreign Affairs has rolled out a 24-hour passport service, and the DVLA has extended its working hours, clearing an 18-month backlog of license applications,” he stated.

The 24-Hour Economy initiative is a flagship policy of the Mahama administration, aimed at driving structural transformation across critical sectors such as agriculture, manufacturing, and tourism.

SP/AE

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The Ghana Music Awards red-carpet has always been a hot topic, often more for the drama and spectacle than for the fashion and glamour it’s supposed to represent.

While the awards night celebrates Ghanaian musical excellence, the red-carpet which should be a preview of what’s to come later in the night has repeatedly fallen short of expectations.

From overcrowded walkways to jaw-dropping wardrobe choices, and even a live goat making an appearance, the red-carpet has sometimes looked more like a circus than the classy affair it’s meant to be.

The event which is meant to celebrate Ghanaian music and culture in all its stylish glory often ends up as fodder for memes and rants on social media.

When the red-carpet became a running joke

Over the past years, the Ghana Music Awards red-carpet has seen its fair share of unforgettable and questionable moments.

Instead of being a place to showcase high fashion and celebrity elegance, it’s become a platform for stunts, confusion, and viral missteps.

Who could forget the infamous moment when an artiste brought a goat onto the red-carpet? Yes, a live goat.

That bizarre act grabbed headlines for all the wrong reasons and symbolised just how unregulated and unserious the event had become.

Then there was a male musician who took things to the extreme by showing up dressed like a woman, wearing a full wig, and makeup, and acting the part completely.

While there is freedom for artistic expression at such events, many questioned whether it was for style, performance, or just to trend for shock value.

And the overcrowding? That’s a story of its own. The red-carpet, which should ideally host only celebrities, invited guests, and accredited media, often turned into a packed zone where influencers with no clear connection to the event jostled for space with award nominees and performers.

At times, it looked like anyone who showed up at the venue could just strut onto the red-carpet, giving the entire segment an air of disorganisation.

Voices of disappointment from the industry

These issues didn’t go unnoticed by people within the entertainment space. Musicians like Sista Afia and media personalities such as Ola Michael and Kofi Okyere Darko (KOD) have all expressed their disappointment.

Ola Michael once described the red-carpet as looking more like a market scene than a glamorous event, accusing the organisers of poor planning and a lack of control over who was allowed on it.

“Maybe they didn’t plan it, or they got someone unqualified to plan it,” he said.

KOD, a respected fashion and media person, was even more critical.

He compared the Ghana Music Awards red-carpet experience to what is seen in countries like Nigeria and South Africa, where red-carpets are treated as serious, curated events.

He argued that Ghana has the talent and creativity to match those standards if only the right effort is made.

“If we watch what happens out there, continentally, let me even come back to the African continent, events that take place in South Africa, Nigeria, and what have you, we see better stuff,” he posted on Facebook after the previous edition.

The Turning Point: What’s changing in 2025

After years of backlash, Charterhouse, the organisers of the Telecel Ghana Music Awards, have decided it’s time for a reset.

At the 2025 edition of the Ghana Music Awards, Charterhouse is promising a more structured, dignified, and polished red-carpet experience, one that befits the status of Ghana’s biggest music night.

According to the organisers, there will be two red-carpet sessions on the night:

1. General Session: This area is designed for basic media engagement and photoshoots. Attendees who are not on the main invite list will still have a space for themselves.

2. Main Red-Carpet Session: This is where only invited celebrities and high-profile guests will be allowed. This section will be televised, include organised fashion interviews where the question “who are you wearing” will be asked, and be presented in a way that matches international standards.

Why a proper red-carpet matters

It’s easy to underestimate the importance of the red-carpet. After all, it’s just the build-up to the main awards night, right? Not quite.

A well-organised red-carpet can elevate the entire event. It sets the tone for the night, allows fashion designers and stylists to showcase their creativity and also allows artistes to communicate their brands.

It’s also a powerful PR tool. Photos and interviews from the red-carpet often travel far beyond the awards themselves, they are what the media and fans will talk about for days or even weeks.

Cautious Optimism: Will Charterhouse deliver?

The plans from Charterhouse for this year’s edition sound impressive, but the industry is watching closely.

Over the years, there have been several promises of improvement that didn’t quite materialise. So, while the excitement is real, so is the scepticism.

Execution is everything. From ensuring that only invited guests are allowed onto the main carpet, to making sure fashion interviews are well coordinated.

Conclusion: Time for Charterhouse to walk the talk

This year’s red-carpet will be closely watched by viewers at home and also by the entire entertainment ecosystem.

The industry is expecting Charterhouse to deliver on its promise, with proper planning, better vetting, clear direction, and above all, respect for the event’s image.

With only the best-dressed and most relevant faces gracing the main red-carpet, the Ghana Music Awards may finally elevate its red-carpet to the standard of other top-tier African events.

You can also watch an exclusive interview with Ayisi on the latest edition of Talkertainment below:

AK/EB

Data released by the Ghana Gold Board (GoldBod) points to increased gold exports and receipts in recent months.

Weighted against trade volumes and revenues of the first quarters of 2023 and 2024, volumes and values for the first Quarter of 2025 recorded manifold increases, with the trend pointing to an even better future.

Read also:

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.

Ghana’s foreign exchange reserves have seen a significant boost, driven largely by a surge in gold exports linked to policies initiated by President John Dramani Mahama.

According to data from the Bank of Ghana, the recent growth in reserves reflects the benefits of gold-backed export strategies introduced during Mahama’s administration, which is aimed at maximising Ghana’s mineral wealth.

The unprecedented volume of gold exports in recent months has contributed to increased dollar inflows, easing pressure on the cedi and strengthening Ghana’s external balance position.

The introduction of the Ghana Gold Board to streamline Ghana’s gold value chain is fast contributing to this achievement, experts and data have shown.

These measures by the government is improving investor confidence and formalising parts of the industry.

The development comes at a critical time as Ghana continues to recover from recent economic challenges and seeks to build a more resilient macroeconomic environment.

SP/AE

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President John Dramani Mahama addressed the nation on Wednesday, May 7

President John Dramani Mahama has reaffirmed his government’s commitment to easing the tax burden on the industrial and agricultural sectors by reviewing levies and duties on imported vehicles and equipment.

Speaking in an address to the nation on Wednesday, May 7, 2025, President Mahama stated; “We committed to reviewing taxes and levies on vehicles and equipment imported for industrial and agricultural purposes within our first 90 days. My government has initiated this crucial review process.”

According to the president, the outcome of the comprehensive review will play a significant role in shaping future fiscal policies.

The findings are expected to be reflected in the 2025 Mid-Year Budget Review and fully integrated into the 2026 national budget.

He emphasised that the initiative is aimed at strengthening two key sectors of the economy: industry and agriculture, by reducing operational costs and encouraging investments and productivity.

“This review will ensure we support these vital sectors effectively,” he added.

The move has been welcomed by industry stakeholders who have long advocated for tax reforms to boost competitiveness and drive economic growth.

SP/AE

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By Morkporkpor Anku

Accra, May 8, GNA-Kwabena Adu-Boahene, a former Director of the National Signals Bureau, has given his explanation of how the GH¢49.1 million, he was accused of laundering together with his wife, was disbursed.

In a letter from his lawyers attached to a memo addressed to the National Security Coordinator, Adu-Boahene said the funds were used for various operational purposes.

This includes payments made to Members of Parliament as allowances, Special aide to President Elect, Elections Special Operations- Support for Opposition party, and various personnel.

He said the funds were related to transactions between two accounts created by National Security to meet urgent operational demands.

He said the Bureau of National Communications account functioned as a special operations account, while the BNC Communications Bureau account, an account allegedly co-owned by him and his wife served as a special-purpose vehicle to carry out sensitive transactions.

Among the expenditures listed were: GH¢9,537,000 paid to ISC Holdings as part payment for specialized cyber and electronic surveillance systems, GH¢6,900,000 disbursed to personnel and operations supporting national stability and counter-terrorism efforts and GH¢960,000 and GH¢309,000 provided as allowances to MPs on the Defence and Interior Committee and the Subsidiary Legislation Committee, respectively, during the passage of the NSB Act and its associated Legislative Instrument.

Others are GH¢8.3 million reportedly allocated to an opposition party for procuring communications equipment to support election results collation and GH¢5,135,000 allegedly paid to the special aide of the President-elect for the purchase of high-end vehicles, including a Nissan Patrol Platinum, a 2024 Nissan Patrol Titanium, and a 2022 Land Cruiser GXR.

He said, “l cannot tell where the Attorney-General gets his theories from; but as your good office will have learned by now, the matter relates to transactions between your Special Services Account (Special Operations Account “Coordinated Account”) and SPV account “BNC Communications Bureau,” duly authorised and created for the national security exigencies of the time and for which my wife (duly vetted) and the UMB were instrumental in facilitating.”

He described as bizarre the Attorney-General’s attempts to link unrelated transfers, withdrawals, and refunds for Special Operations with assets they do not own and a few they own which mostly predate the 2020 transactions he raised.

Adu-Boahene said cursory look on the part of anyone would reveal these facts.

“I am also disturbed to note that the services of bloggers and social media influencers have been employed to post and run commentary on these lies, to amplify the matter and bring prominence to this malicious agenda against not just our persons, but the National Security as well,” he added.

He said as this ridiculous drama unfolds, some GH¢49 million of Special Operations funds have now become the subject of court action, where his wife and himself, as well as other affiliates, are being accused with charges, including stealing and causing financial loss to the state.

He assured the National Security Coordinator that they would never steal public funds, as was being deliberately and wickedly portrayed by the Attorney-General.

“In any case, how does one steal public funds in the manner being described by the Attorney-General without being flagged by the Auditor-General?” he added.

Adu-Boahene said they were full of content with the modest blessings God had given them, assuring the National Security Coordinator that they would never take what does not belong to them, even if privately arranged.

He alleged that EOCO Executive Director was deliberately misrepresenting or distorting the facts to the authorities, and in the process causing unnecessary sensation that could embarrass the government and national security.

GNA

SOF

Featured

Kweku Zurek

May – 08 – 2025 , 07:14

2 minutes read

Kwamigah-Atokple (R) among his partners

The Council of State member representing the Volta Region, Gabriel Tanko Kwamigah-Atokple, has announced plans to establish sugar processing factories and rice milling machines in the region to boost local agriculture and create jobs for the youth.

In a statement on his official Facebook page after a tour of several agriculturally rich communities in the Volta Region, Kwamigah-Atokple said the initiative is part of a broader effort to unlock investment opportunities that directly benefit the people.

The tour covered communities such as Weta, Afife, Avalavi, Atiteti, and other surrounding areas known for large-scale rice and sugarcane production.

“As a successful rice farmer myself, and now as a representative of the people on the Council of State, my duty is not just to advise the President but to also identify and support investments that bring real change to our communities,” he stated.

He noted that although these communities are rich in arable land and hardworking farmers, they continue to face critical post-harvest challenges due to the absence of modern equipment and agro-processing facilities.

To address these challenges, Kwamigah-Atokple said he and his investment partners are working to introduce modern rice milling machines, sugarcane processing factories, and the Kasette Phattana brand of combine harvesters to improve efficiency, reduce post-harvest losses, and cut down Ghana’s dependency on agricultural imports.

Additionally, he hinted at plans to explore the expansion of fish farming in the region as part of a holistic agricultural development strategy.

“With the right support, we can not only improve efficiency and reduce waste but also create sustainable jobs for our youth,” he emphasized. “Agriculture remains a vital part of our economy, and by investing strategically, we can turn it into a powerful engine of growth for Volta and beyond.”

AM/KA

#TheAdutwumFactor! Watch as Yaw Osei Adutwum declares intent to contest NPP flagbearership for 2028

Accra, May 7, GNA – The Driver and Vehicle Licensing Authority (DVLA) has opened a state-of-the-art 24-hour service centre in Adentan near Accra in line with the Government’s public service transformation agenda.

The new office will offer all DVLA services related to driver licensing and vehicle registration and meet the diverse needs of the motoring public.

The opening of the Adentan Office, makes the DVLA one of the foremost public institutions to operationalise the Government’s 24-Hour Economy Policy.

Speaking at the opening ceremony, Mr Julius Neequaye Kotey, DVLA Chief Executive, said the Adenta Office and the facilities therein formed part of strategic move to enhance service access and customer experience.

He said the addition of Adenta meant that the Authority now had 35 offices across the country, adding that the DVLA would deliver on the quest to make its services easily accessible to the public, irrespective of their location.

“This facility will serve as a centre of excellence, providing a full range of DVLA services—vehicle registration, driver licensing, renewals, compliance and enforcement, driver testing and vehicle inspections—operating on a 24-hour basis,” he said.

Mr Kotey said the DVLA was working diligently to develop modalities for the registration of excavators entering the country, in support of the national fight against illegal mining.

He said as part of measures to increase revenue, the Authority had replaced the issuance of aluminium DP plates with a new sticker-based DP identification system to curb their misuse.

Mr Joseph Bukari Nikpe, the Minister of Transport, commended the DVLA for embracing the Government’s transformative agenda in the transport sector.

He expressed confidence that the decentralisation of the DVLA’s services would bring relief to the public.

The Transport Minister said the operationalisation of the 24-hour service would help prevent the use of productive working hours to access essential public services.

Nana Oye Bampoe Addo, Deputy Chief of Staff in Charge of Administration, said the President was focused on delivering his promises to the people and that the resetting of the country would be experienced in different sectors.

She said the transformation of DVLA’s services formed part of the Government’s reset agenda and assured that the President would continuously account to the people and demonstrate his commitment to resetting the country.

“We are resetting and each and everyone should get involved in the resetting motion of the President,” she said.

GNA

A three-day ceasefire in Ukraine that was unilaterally declared by Russian President Vladimir Putin last month has come into effect, as Russia prepares to mark the anniversary of its World War II Victory Day on Friday.

Russian state media agency Tass said the ceasefire began at midnight local time on Wednesday (5 p.m. ET Wednesday).

But within hours, Russia appeared to have broken the ceasefire, according to Ukraine’s Air Force. Overnight, Russia launched guided bombs over Sumy in northeastern Ukraine, the military said in a post on Telegram.

A Russian aerial bomb hit a home in Mykolaiv around 3 a.m. local time, killing a 55-year-old woman and wounding her son, according to the Prosecutor’s Office in the Sumy region. About half an hour later, a 70-year-old woman was wounded when another bomb landed on the city of Vorozhba, the local prosecutor said.

CNN has not independently verified these claims.

A statement from the Kremlin last month said that Putin ordered “all military actions” in Ukraine to be suspended from midnight May 8 to midnight May 11 based on “humanitarian considerations.”

Kyiv rejected the short-term truce when it was first announced. Ukraine’s President Volodymyr Zelensky called Putin’s announcement a “theatrical performance” and reiterated his country’s support for an earlier US proposal for a 30-day ceasefire which Russia has rejected.

The three-day period Putin picked for the ceasefire coincides with Russia’s World War II Victory Day commemorations, including a traditional military parade set for Friday, May 9.

The high-profile event is expected to be attended by the leaders of several countries that are friendly with Russia, including China’s Xi Jinping.

As in previous years, it is expected to be used by Putin and his government to peddle propaganda, which falsely frames Moscow’s current aggression against Ukraine as a fight against a “Nazi” regime in Kyiv.
Ukrainian drones shut Moscow airports

As Russia prepares to mark the anniversary of the end of WWII, Ukrainian drones attacked Moscow for the second consecutive night overnight into Wednesday.

The attacks forced Russian authorities to temporarily halt air traffic at 13 airports – four in Moscow and nine further afield.

More drones were flying on Wednesday, with the Moscow mayor Sergey Sobyanin saying one drone that was heading to Moscow was shot down on Wednesday afternoon.

The shutting down of airports was potentially embarrassing for Moscow, as delegations from countries that have remained friendly to Russia were flying in to attend the parade on Friday.

Brazil’s President Luiz Inacio Lula da Silva, Vietnam’s President To Lam and Belarussian leader Alexander Lukashenko are among the 29 leaders on the guestlist, according to Russian presidential aide Yuri Ushakov.

Ukraine has previously said it “cannot be responsible for what happens on the territory of the Russian Federation” because of the war.

Zelensky said his country would not be “playing games to create a pleasant atmosphere to allow for Putin’s exit from isolation on May 9.”

While Russia has rejected the US ceasefire proposal, the unilateral ceasefire around the Victory Day celebration was the second short-term truce Putin announced in less than a month.

In a surprise move over Easter, the Russia leader announced he instructed his troops to stop all military activity for some 30 hours. Ukraine accused Russia of breaching the truce, although it did say that fighting had slowed along some parts of the front lines.

Source: CNN.com

Development Economist and Senior Research Fellow at the Institute for Economic Research and Policy Planning (IERPP), Dr George Domfeh, has delivered an assessment of President John Dramani Mahama’s economic reset agenda.

He pointed out that while the government has achieved a modest overall score of 45.5 percent, its efforts remain fundamentally flawed in execution.

Dr Domfeh shared his insights at a press conference held at the Ghana International Press Centre under the theme “The 120-Days Accountability Showdown: Are We Resetting or Repeating the Past?” on Wednesday, May 7, 2025.

He presented on the “economic reset” under President John Dramani Mahama’s administration, focusing on tax reforms, job creation, and industrial growth within the government’s first 120 days.

He noted that the IERPP’s assessment covered 25 key manifesto promises across four thematic areas, with performance measured using verifiable implementation data and a weighted scoring system aligned with international benchmarks.

He explained that the administration’s flagship economic policies, though ambitious in their design, have so far failed to translate into meaningful, tangible outcomes for ordinary Ghanaians.

Central to his critique was the government’s much-publicized 24-Hour Economy, which the economist described as existing largely in name only. According to him, while the idea has captured public imagination, it lacks a concrete policy framework and detailed implementation plan, leaving many sectors unsure of how it will function or benefit businesses and workers in practice.

Dr Domfeh further raised concerns over the government’s job creation agenda, particularly programs like the “One Million Coders” initiative.

He argued that it lacks the necessary structural foundation and ecosystem to achieve sustainable job creation. Without strong institutional backing, industry partnerships, and capacity building, Dr. Domfeh warned that such programs risk becoming symbolic gestures rather than engines of real economic transformation.

According to him, President Mahama had campaigned on a platform heavily focused on economic transformation, noting that nine of his twenty-five major campaign promises were directly related to economic issues.

However, Dr Domfeh stressed that simply fulfilling campaign promises does not end the national conversation, as Ghanaians must critically ask whether these actions genuinely address the country’s pressing needs.

Dr Domfeh pointed out that President Mahama’s pledge to run the leanest and most efficient government had seen notable results, particularly in the reduction of ministerial appointments, which earned strong praise.

However, he was quick to caution that the conversation around lean governance should go beyond just the number of ministers and encompass all government appointees and overall expenditure.

As he colorfully put it, “having one wife doesn’t automatically mean you spend less than someone with ten wives,” highlighting the need for a deeper examination of government spending patterns beyond the optics of smaller cabinets.

Reflecting on the administration’s efforts to engage stakeholders, Dr. Domfeh acknowledged that the government’s organization of a national economic forum was a commendable step.

However, he raised questions about its necessity, recalling a similar initiative previously undertaken by the National Development Planning Commission that had already developed a broad economic framework. He stated that the recommendations from the recent forum were not fully reflected in the national budget, indicating a gap between consultation and implementation.

Dr Domfeh also addressed the administration’s widely celebrated decision to scrap unpopular taxes, including the Electronic Transfer Levy, popularly known as the E-Levy.

While he acknowledged this as a fulfilled campaign promise that deserved a high rating, he expressed concern that eliminating the levy may have been a missed opportunity, given that it was one of the few taxes effectively capturing revenue from the informal and rural sectors. In his view, thoughtful reform, rather than outright abolition, might have been a more prudent course of action.

The development economist offered a mixed assessment of the government’s efforts to reduce import taxes on agricultural and industrial inputs. While he described the policy as sound and well-targeted, he noted that its implementation has been delayed, leaving its full potential unrealized.

On the 24-Hour Economy, Dr. Domfeh observed that although a national coordinator had been appointed, the draft policy remains unclear to the public, and key questions about its sectoral applications and benefits remain unanswered. He stressed the need for more public education and clarity if the initiative is to succeed.

Dr Domfeh highlighted that although some preparatory work has begun toward establishing the Accelerated Export Development Council, the council has not yet been formally set up, making progress in this area limited.

Regarding job creation, he acknowledged the launch of initiatives such as the Generational Youth Program, the National Apprenticeship Program, and the One Million Coders Program, but pointed out that their tangible impacts have yet to materialize.

He expressed strong reservations about the government’s intention to lift the ban on salvaged vehicles, warning that such a move could undermine recent achievements in attracting car assembly plants to Ghana, including investments by global brands like Toyota. Dr. Domfeh urged the government to carefully reconsider this policy.

On the matter of state-owned enterprises, he noted that while President Mahama has shown some awareness of the sector’s underperformance, including public remarks questioning the inefficiency of a state-owned alcohol producer, the country still awaits concrete reforms and measurable results.

Dr Domfeh further emphasized that governance should not be reduced to the mere fulfillment of campaign promises. Instead, he argued, what truly matters is whether the policies implemented are meaningful, effective, and responsive to the genuine needs of the nation.

He added that Ghanaians deserve not just delivery on promises but delivery that genuinely transforms lives and strengthens the country’s future.

AM/KA

The second edition of the Ghana Wellness and Healthcare Awards has been officially announced, with the event set to take place on 23rd August 2025 in Accra.

Organised by Albony Global Communications, this year’s awards ceremony will be held under the theme “The Role of the Wellness and Healthcare Sector in Ghana’s Socioeconomic Development.”

The awards aim to celebrate excellence and innovation in Ghana’s wellness and healthcare sectors, which organisers describe as foundational to the country’s long-term prosperity and resilience.

By recognising outstanding professionals, initiatives, and institutions, the event seeks to counteract growing demotivation and migration among health workers, and to re-establish national pride in the sector.

“This event challenges the narrative of underappreciation in the healthcare and wellness space,” said organisers in a statement.

“We aim to fuel national pride, raise the bar for excellence, and restore value to a sector too often overlooked.”

The 2025 edition is expected to bring together a wide range of stakeholders, including policymakers, healthcare professionals, entrepreneurs, wellness advocates and the media. It will serve as a platform to highlight the direct impact of health and wellness on Ghana’s socioeconomic growth.

The awards are spearheaded by Founder Mr. OB Sinachy, Co-founder Dr. Alberta Ama Atta Ackon, and Project Chair Madam Vivian Awinne—leaders who share a commitment to promoting health equity and nationwide wellbeing.

Nominations open

Nominations for the awards are currently open, and individuals or organisations, professionals, teams and projects that demonstrate innovation, impact, and dedication in the wellness and healthcare space across Ghana are expected to submit entries.

To nominate, sponsor, partner, or cover the event, interested parties must visit the official website: https://ghanawellnessandhealthcareaward.com or email: [email protected].

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.

Ghana’s local currency, the cedi, has recorded marginal gains against major trading currencies, particularly the US dollar, at some forex bureaus.

In its daily update, the Central Bank noted that the cedi is trading at a buying price of GH¢13.29 and a selling price of GH¢13.30 to a dollar.

The British pound is being bought at GH¢17.72 and sold at GH¢17.74, while the euro trades at a buying price of GH¢15.07 and a selling price of GH¢15.09.

Checks by GhanaWeb Business on May 8, 2025, at 08:00 AM indicate that the cedi is trading at GH¢14.10 to the dollar, while the pound is trading at GH¢18.50 at some major forex bureaus across the country.

Additionally, the euro is trading at GH¢16.20 on the retail market.

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The rate of inflation in April 2025 stood at 21.2 per cent, a decline from 22.4 per cent in March 2025, marking the 5th consecutive monthly decline, the Ghana Statistical Service (GSS) said on Wednesday.  

Dr. Alhassan Iddrisu, the Government Statistician, at a press briefing said the sustained drop was a positive signal of moderating inflationary pressures.   

However, a month-on-month increase to 0.8 per cent, following the 0.2 per cent in March, suggest that vigilance was still required to tame inflation.  

The overall outlook is cautiously optimistic, with opportunities to consolidate gains and enhance economic resilience.  

The Consumer Price Index (CPI) for April 2025 was 258.6 up from 256.5 in March 2025 and 213.3 in April 2024.    

Food inflation stood at 25.0 per cent, showing a decline from 26.5 per cent the previous month.   

Non-food inflation also declined to 17.9 per cent from 18.7 per cent compared to the previous month.  

The inflation on locally produced items was 22.7 per cent in April from 24.0 per cent, while inflation for imported items stood at 17.7 per cent from 17.7 per cent.  

At the regional level, the year-on-year inflation rate ranged from 37.1 percent in the Upper West Region as the highest and 18.3 per cent in the Volta Region as the lowest. 

Source: GNA  

File photo of US dollar notes

A financing roadmap drawn by the World Bank, United Nations Development Programme (UNDP) and other United Nations (UN) agencies in Ghana shows the need to raise about US$522billion in order to meet the Sustainable Development Goals (SDGs) by 2030.

However, if government’s annual revenues appropriation – the budget – is excluded, the country needs to raise a whopping US$430billion in financing.

“When you spread that between 2020 and 2030, Ghana needs to raise about US$43billion annually before we can meet the 2030 SDGs,” said Mr. Peter Aidoo, an economist and Development Coordination Officer at the UN Resident Coordinator’s Office.

These figures at least give a clear picture of where the country stands in terms of achieving the Sustainable Development Goals by the said deadline.

The SDGs are a set of 17 global objectives adopted by the United Nations in 2015. They aim to address critical development challenges and promote a more sustainable and equitable future for all by 2030.

These goals include eradicating poverty, ensuring good health and wellbeing, gender equity and achieving universal access to quality education and clean water & sanitation.

While countries in the global north are leading the park, with countries like Finland, Sweden and Denmark having achieved more than 85 percent of SDGs, the global south’s path still remains tortuous.

The devastating impact of climate change and lack of funding derailed efforts toward achieving these goals.

To accelerate attainment of the Sustainable Development Goals in Ghana, UN Global Compact Network Ghana organised a Business Executives Dialogue in Accra on the theme ‘Financing Ghana’s sustainable future and strengthening private sector contribution to the VNR process’.

The event brought together stakeholders from public and private sectors, banks and the UN to discuss sustainable finance and opportunities and challenges the private sector faces in supporting Ghana’s drive to achieve sustainable development.

Speaking at the event, Mr. Aidoo expressed worry about the quantum of illicit financial flows out of the country – stressing that when checked, those funds could help bridge the funding gap.

“We are chasing the IMF for just US$3billion while every year we lose US$1.44billion to illicit financial flows,” he bemoaned.

Africa has lost over US$1.4trillion to illicit financial flows in 3 decades. Sub-Saharan Africa lost US$528.9billion between 2003 and 2012. While Ghana alone between 2022 and 2011 lost US$14.39billion to illicit financial flows.

However, he commended government and the National Development Planning Commission (NDPC) for their commitment in reporting on the Voluntary National Review (VNR) and successful incorporation of the 2019 Vienna recommendations.

“They have been very consistent since 2019, using a global society and system-wide approach,” he said.

He therefore advised that district and regional GDP be computed to aid in assessing the country’s SDG progress. “One of the key recommendations was to have a comprehensive report on the SDGs,” he added.

Following US President Donald Trump’s abolition of USAID, which sent shockwaves across Europe with some developing partners including Sweden and Denmark also withdrawing funding, President John Dramani Mahama acknowledged that the country would lose about US$150million in critical funding.

In view of this, the economic advisor suggested that there should be some rationalisation in the budget to make up for the cuts. Otherwise, critical health supplies – the procurement of vaccines for immunisation of children and pregnant women, antiretroviral drugs, malaria vaccines, a chunk of health expenditure – will be impacted severely, since “that whole stream of financing was technically funded by USAID”.

While commending government’s commitment to the IMF programme and the reforms being implemented including the cancellation of e-levy, the UN Economist underscored the need to fix the financing gap.

The UN has made recommendations to that effect. These include a review of the policy and regulatory framework to create an enabling environment for investments, catalyse financing through private partnerships and improve capacities of MSMEs to make them bankable.

The economic advisor advised government to prioritise strengthening food systems, a just energy transition, future-ready education, decent work and social protection and climate & biodiversity in order to meet the SDGs by 2030.

“Divert most of your investment into these areas and that will catalyse growth in all other areas,” he noted.