By James Amoh Junior/ Francis Ntow

Accra, April 6, GNA –  The Chinese Ambassador to Ghana, Mr Tong Defa, has lauded the establishment of the Association of China (Ghana) Mining LBG (ACGM) as a key step towards deepening sustainable and inclusive development in Ghana’s mining sector.

Describing the Association as a “bridge for a win-win cooperation,” Mr Tong said the initiative aligned with Ghana’s ambition to modernise its mining industry, while protecting its rich natural heritage.

Ambassador Tong stated: “Ghana’s lush forests and clear waters are as valuable as gold and silver,” urging members of the Association to prioritise ecological preservation alongside economic development.

He was speaking at a colourful ceremony, in Accra,  at which the Minister of Lands and Natural Resources, Mr Emmanuel Armah-Kofi Buah, inaugurated the ACGM under the theme: “Responsibility, Sustainability, Excellence, and Growth.”

It comprises major Chinese mining firms and mining sector services companies.

The event also marked the announcement of the China-Ghana Mining Community Development Foundation, aimed at mobilising dedicated funds to support sustainability and community empowerment and development initiatives.

Mr Tang ZhenJiang serves as Chairman, with Mr Kevin Chen, Secretary General (Golden Star Wassa, subsidiary of Chifeng Gold); and three Deputy Chairmen: Mr Kevin Wu of JH Resources Exploration Limited, Mr Libin Xu of Ghana Manganese Company Limited, and Mr Qingming Tang of Earl International Mining Ltd.

Ambassador Tong identified five key focus areas for the ACGM as promoting standardised development, information sharing, technical cooperation, community development, and environmental protection. Ambassador Tong pledged the continued support of the Chinese Embassy, expressing optimism that the Association would “inject new momentum into Ghana’s economic growth and the high-quality development of Chinese enterprises.”

Mr Buah, who spoke on behalf of President John Dramani Mahama, described the inauguration as “a significant milestone that ushers in a new chapter in Ghana-China collaboration in the mining sector.

“One that promises mutual growth, technological advancement, and sustainable development,” he explained.

He underlined the Government’s zero tolerance for illegal mining drive, describing  Galamsey as “an act of environmental terrorism and economic sabotage”.

 Mr Buah tasked the ACGM to serve as “a beacon of integrity,” upholding Ghanaian mining laws, while supporting community upliftment.

“China has long been a partner in Ghana’s mining sector. The establishment of the ACGM reflects the commitment of Chinese investors to responsible and long-term engagement in this very critical industry,” he said.

The Minister highlighted the potential of Chinese technical expertise in areas such as underground mining, low-grade ore development, and mining-related nuclear training, to improve efficiency and global competitiveness in Ghana’s mining industry.

Mr Tang, for his part, reaffirmed the Association’s core mission to promote responsible mining, technological innovation, and community-driven development.

He expressed readiness to work closely with Ghana’s Ministries of Lands and Natural Resources and Youth Development to empower young people through a cooperative system.

“Through this Association, we will unify industry consensus, fulfil social responsibilities, and empower communities,” Mr Tang said.

 “Together, we will write a remarkable new chapter in China-Ghana collaboration.”

The event, rich in cultural display, featured traditional performances by the Atitirew Cultural Troupe and brought together dignitaries and key players in Ghana’s mining sector.

They included Ministers of State, Parliamentarians, and renowned entrepreneur Mr Ibrahim Mahama, founder of Engineers and Planners, a mining service provider.

GNA

BAS

Global leader in digital business services, TP, has launched its third office in Accra, aimed at creating new job opportunities to enhance the country’s economic development.

This move is in collaboration with the Government of Ghana through the Ministry of Communication, Digital Technology, and Innovation.

The Deputy Chief Executive Officer of TP, Thomas Mackenbrock, reiterated TP’s strong commitment to job creation, adding that the company is planning to hire over 5,000 young Ghanaians across the country.

He believes this will support the government’s efforts to reduce the national unemployment rate.

He explained that TP has experienced significant growth in Ghana since it began operations in January 2022 with just one site and 36 employees.

This expansion aligns with TP’s long-term vision to position Ghana as a strategic hub for digital services in West Africa.

He further stated that TP will continue to work alongside the government to create opportunities within the country, noting the company’s global presence in over 95 countries and its workforce of nearly 500,000 people worldwide.

Demonstrating the depth of this commitment, TP’s Global CEO and Founder, Daniel Julien, made a personal visit to Ghana to explore the country’s strategic value as a cornerstone for the company’s expansion across the region.

Country Lead of TP Ghana, Elhadi O. Bencherif, shared that what started as a small operation in Ghana has now grown significantly thanks to the support of TP’s leadership and the Government of Ghana.

“Together with our leadership, we are truly proud to see that what began as a small initiative in Ghana, is now embraced with tremendous support and goodwill. We are also immensely grateful to the government for providing us with a conducive business environment that supports our vision to create meaningful jobs for the youth in the digital space”.

The Chief Executive Officer of the Ghana Investment Promotion Centre (GIPC), Simon Madjie, speaking on behalf of the Minister for Communication, Digital Technology, and Innovation, emphasized that this initiative is part of the government’s broader commitment to fostering an enabling environment for Ghanaians through the 24-hour economy initiative.

He expressed optimism that the 5,000 jobs initially announced could significantly increase over time.

TP is a global leader in digital business services, specializing in business process outsourcing. It provides high-quality services in customer relationship management, high-value customer experience, content curation, content moderation, and other advanced business operations.

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Dr Cassiel Ato Forson, Minister of Finance

The Government of Ghana is set to introduce a policy requiring all state agencies to procure certain essential goods exclusively from local producers.

This initiative, announced by Finance Minister Dr. Cassiel Ato Forson during a meeting with the leadership of the Association of Ghana Industries (AGI), aims to strengthen Ghana’s industrial sector, create jobs, and reduce dependency on imports.

Dr. Forson emphasised that no country can develop without a strong industrial base, and while trade is important, Ghana must adopt deliberate policies to promote local production.

He questioned why the country continues to import basic commodities such as sugar and rice, despite having the capacity to produce them locally.

“To support our local industries, the government will soon publish a list of items that all public sector agencies must procure locally. This will ensure that government procurement serves as a tool to develop our industries,” he stated.

“Going forward, any government procurement from outside Ghana will require special approval from the Office of the President.”

The finance minister also highlighted the urgent need to curb the smuggling of goods, which he said is crippling local businesses.

He revealed that the government has identified key smuggling routes and will soon announce strict measures to stop the influx of smuggled goods that unfairly compete with locally manufactured products.

As part of the broader industrial strategy, Dr. Forson called for a working session with industry leaders to explore how local businesses can actively participate in the government’s 24-hour economy programme to drive production and economic expansion.

AGI President, Dr. Humphrey Ayim-Darke, welcomed the government’s commitment to supporting local industries.

He praised the minister’s budget policies and expressed optimism that continued engagement between government and industry would lead to tangible improvements in Ghana’s industrial sector.

The upcoming mandatory local procurement policy is expected to provide a significant boost to Ghanaian manufacturers, ensuring that government spending contributes directly to the growth of local businesses and the expansion of the national economy.

Ghana’s telecommunications giant, MTN, on Wednesday organised a forum to celebrate its Chief Executive Officer’s one year in office at the company’s Head office in Accra.

The event, dubbed “Time with Steph,” was Mr Stephen Blewett’s first major media encounter since he assumed office in Ghana.

It was attended by journalists from leading media houses, consumer advocacy groups, and telecommunications experts, including the CEO of the Ghana Telecommunications Chamber, Mr Ken Ashigbey.

The event, which was moderated by JoyNews editor Emefa Apau, created a platform for members of the media and other stakeholders to know more about MTN’s current operations.

Speaking during the event, Mr Blewett emphasised the importance of promoting local digital innovation in the country.

Mr Blewett reaffirmed the company’s commitment to digital transformation, local entrepreneurship, and network improvement, amongst others.

He stated that developing homegrown digital solutions is essential for advancing Ghana’s technology landscape. “We need to have as many local digital products as possible. Supporting local entrepreneurs and individuals with digital skills is a priority for me. By introducing local digital solutions to the market, we will create significant opportunities for both MTN Ghana and the country as a whole,” he expressed.

The MTN CEO discussed the Ghana ICT Hub project, a flagship initiative launched in 2023 with the aim of enhancing the country’s ICT ecosystem in sectors such as health, agriculture, and education.

Expected to be completed by the first quarter of 2026, the hub is intended to facilitate skills development and create job opportunities for the youth.

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Featured

GraphicOnline

Sports News

Apr – 06 – 2025 , 19:42

2 minutes read

“Green methanol can point the way for shipping to a climate-friendly future,” Greenpeace spokeswoman Clara Thompson told dpa ahead of a meeting of the International Maritime Organization (IMO) in London on Monday.

The IMO, a UN agency made up of 176 countries, aims to discuss measures for implementing its greenhouse gas strategy with a view to making shipping carbon-neutral by 2050.

The study by the DLR’s maritime energy unit found methanol easily manageable, by contrast with hydrogen or ammonia, and technically ready for use. It can be produced using renewable forms of energy, and marine engines can easily be converted to burning it.

Shipping is thought to generate around 3% of all greenhouse gases, as well as large amounts of the oxides of sulphur and nitrogen. These pollutants would be almost entirely absent with the use of methanol.

The study notes however that producing methanol is still expensive “in particular the operation and acquisition of electrolysers.” The fuel also needs tanks that are twice as large as current fossil fuel tanks.

Little green methanol is currently available on the market. For comparison, German shipping would need up to 5.73 million metric tons per year, against 2.94 million tons of diesel.

Thompson said the IMO needed to implement binding targets to speed up conversion to alternative fuels. Greenpeace backed a CO2 price that reflected the benefits for the climate of methanol over fossil fuels, she said.

GNA

PDC

Defending champions, Samartex inflicted a painful 2-1 defeat on Accra Lions at the Nsenkyire Sports Arena on Sunday, April 6, 2025, deepening their survival woes.

Emmanuel Mamah opened the scoring for the home side just one minute into the game, capitalizing on a lapse in concentration from the visitors.

The hosts dominated proceedings, especially in the first half, creating several shooting and goal-scoring opportunities.

Accra Lions’ Yao Sokpoli attempted to level the score in the 19th minute with a daring strike from outside the box, following a layoff by left-back Ibrahim Issa, but his effort missed the target.
Despite continued pressure from the Lions, Samartex stood firm in defense.

The Lions’ entire backline was caught ball-watching in the 38th minute, allowing Akwesi Sarpong to rifle a shot into the roof of the net to double Samartex’s lead before halftime.

After the break, Accra Lions introduced fresh legs off the bench, but the changes had little impact.

Although the visitors eventually pulled one back, it wasn’t enough to change the outcome.

Samartex held on to secure all three points, moving up to 9th on the league table with 35 points.

Meanwhile, Accra Lions have dropped into the relegation zone with 23 points. They face Basake Holy Stars in their next fixture, while Samartex will take on Legon Cities.

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.

As established in the Ghanaian landmark case Salomon v. Salomon , when a company is incorporated, it becomes a separate legal entity with perpetual succession.

This means the company continues to exist even if its members or officers leave, due to death or other reasons.

However, companies can face challenges and may need assistance to recover and grow, which is where corporate restructuring comes in.

This article will discuss corporate restructuring in Ghana, some different methods of corporate restructuring under Ghanaian law, and the role played by the Board of Directors in the process.

1. What is corporate restructuring

Corporate Restructuring is making major adjustments to a company’s financial and operational structure, often in response to financial difficulties.

This may include making positive adjustments to the company’s debt, operations, or organizational setup, aimed at minimizing financial risk and improving business performance .

When a company encounters financial troubles or becomes insolvent, it may look to restructure as a way to recover, regain solvency, and prevent liquidation.

The main objectives are to lower debt, boost cash flow, and ensure the company can continue functioning in a financially stable manner. Below are some of the ways a company can restructure in order to be solvent.

2. Restructuring Methods

Administration:

A restructuring officer or a licensed insolvency practitioner is appointed as an administrator to operate under an approved restructuring agreement to take over the business and assets of a company that is insolvent or has a negative net worth, to manage and restructure the business for the company to become solvent and have a positive net worth.

The Corporate Insolvency and Restructuring Act, 2020 (Act 1015), (“CIRA”), is a crucial law in Ghana that addresses insolvency and restructuring. It provides distressed companies with the option to rescue their businesses instead of resorting to liquidation or receivership.

Under CIRA, companies can remain operational as a going concern while undergoing restructuring, with oversight from a designated administrator or restructuring officer.

This approach temporarily halts creditors’ actions, allowing for the development of a restructuring plan that may offer better outcomes for all parties compared to immediate liquidation.

It is important to point out that this rescue provision does not apply to banks, insurance companies, or any other business with special legislation.

The process of administration commences when a licensed Insolvency Practitioner is appointed . The administrator’s duty is to take control of the company’s business, assets, and affairs, investigate its operations, and seek ways to rescue the business in the best interests of creditors, employees, and shareholders.

The administrator is responsible for managing the business, and preserving its value, and may choose to sell or terminate parts of the business and dispose of company property.

The administrator also has the authority to exercise any powers or perform any duties that the company or its officers could perform if it were not in administration.

Mergers:

A merger occurs when one company is absorbed by another company or when two or more companies join to form a new company.

In this process, all assets, liabilities, and operations of the merging companies are transferred to the receiving company or the newly formed entity.

In return, shareholders of the merging companies typically receive shares in the receiving company, sometimes along with additional cash payments.

In Ghana, specific steps must be followed for a merger to take effect:

● Board Approval: The directors of the merging companies must confirm that the merger serves the company’s best interest and that the transferee company will remain solvent after the merger. They must sign a certificate to this effect.

● Merger Proposal: A detailed merger proposal, along with relevant documents, must be shared with shareholders and creditors at least 28 days before the merger takes effect.

The proposal must be approved by at least 75% of each group (members, creditors, and other relevant stakeholders).

● Registration: The approved merger proposal and supporting documents must be submitted to the Registrar at the Office of the Registrar of Companies for official registration.

The essence of a merger is to create a stronger, more competitive business entity by combining resources and expertise, allowing companies to overcome limitations and achieve long-term success.

Arrangements:

An Arrangement is the reorganizing of a company’s structure or shares, such as consolidating or dividing shares  by an appointed restructuring officer (in this case, an insolvency practitioner) such as an Administrator or a Liquidator (in the case of a company being wound up) to improve its financial position. It is usually done when a company faces financial difficulties, such as needing to restructure.

The purpose of an arrangement is to find a solution that benefits both the company and its creditors or members, helping the company avoid insolvency or liquidation and continue its operations.

The company first proposes an arrangement to its creditors or members. The company or other interested parties then apply to the Court which may order a meeting of the relevant groups of members and creditors to be held in the manner the Court directs.

For the arrangement to proceed, at least 75% of creditors or members must approve it. If approved, the Registrar may appoint an insolvency practitioner to assess its fairness.

After the investigation, the Court reviews the arrangement and the report before confirming it, making the arrangement legally binding on all parties.

Once confirmed, the company must implement the changes, and if the arrangement involves asset transfers, the Court may give its approval. If the company fails to follow the required steps, it will face penalties.

3. The role of the board in corporate restructuring

The Board of Directors plays a crucial role in corporate restructuring and below are their roles and responsibilities in the various corporate restructuring techniques:

In an Administration proceeding, Directors hold the following roles and responsibilities:

● They appoint an administrator if they believe the company is insolvent or likely to become insolvent. This decision is made by passing a board resolution, which must contain the grounds for insolvency or the likelihood of insolvency.

● They are required to assist the administrator, provide necessary information, and comply with their decision to help salvage the business for the benefit of creditors, employees, and shareholders.

● While they remain in office during administration, their powers to manage the affairs of the company are limited and they can only act with the administrator’s approval.

During a merger transaction, directors and required to do the following:

● They must ensure that the merger is in the best interest of the company and that the new company will be solvent post-merger, and they are required to provide a certificate to this effect.

● They are also responsible for sending merger proposals and relevant documents to members and creditors before the merger takes effect.

● They must ensure that all legal requirements have been complied with, including submitting necessary documents to the Registrar of Companies for approval and registration of the merger.

When a company undertakes an Arrangement, the Directors are responsible for the following:

● Applying to the Court for an order for a meeting between the shareholders and creditors to discuss and approve the proposed arrangement. The Court however provides the rules to be followed by all parties for this meeting..

● They must ensure the company follows the Court’s orders, such as providing required information by all parties and executing the necessary actions to implement the arrangement. Should they fail to do this, they will be required to pay a penalty, along with all officers of the company

4. Conclusion:

In conclusion, corporate restructuring is more than just a lifeline for companies in financial distress; it is a powerful opportunity to reinvent and stabilize a business.

Whether through administration, mergers, or arrangements, restructuring offers a path to reduce debt, revamp operations, and return to profitability.

The Board of Directors plays a pivotal role in this transformative process, making key decisions, ensuring legal compliance, and collaborating with administrators to steer the company toward recovery.

With strategic leadership and careful planning, restructuring can not only save a company but also position it for future growth and success in an ever-evolving business landscape.

Ewurama Osam Tawiah Esq.

Senior Associate, VINT & Aletheia Attorneys & Consultants

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By Simon Asare

Accra, April 06, GNA – Songstress Sista Afia delivered an outstanding performance at the 26th Telecel Ghana Music Awards (TGMA) Xperience Concert in Takoradi, Western Region.

The 2025 TGMA Best Highlife Artiste nominee delivered a high-energy performance on stage, engaging thousands of music fans.

She showed her singing abilities and stage presence by performing songs such as “Weather”, “Jeje”, and “Asuoden”, among others.  

The audience’s reaction to Sista Afia’s performance was overwhelmingly positive as fans expressed their excitement through social media platforms, sharing videos and comments that highlighted her ability to connect with the crowd.

The event served as a platform for her to showcase her artistry and engage with fans, contributing to the overall success of the concert.

The 2025 TGMA Xperience concert also saw some wonderful performances from the likes of Kuami Eugene, Kofi Kinaata, King Paluta, Kwaw Kese and Beeztrap KOTM, among others.

The TGMA Xperience concert forms part of a series of events aimed at celebrating Ghanaian music and culture and is also a precursor to this year’s awards ceremony, scheduled for Saturday, May 3, 2025.

GNA

KOA

Brussels, April 6 (BTA/GNA) – The EU Commissioner for Democracy, Justice, the Rule of Law and Consumer Protection Michael McGrath will visit Bulgaria this week to discuss rule of law and justice matters with national authorities and civil society organizations, the European Commission said in a press release on Friday.

On 7 April, McGrath will confer with the Bulgarian Deputy Prime Minister and Innovation and Growth Minister Tomislav Donchev and Justice Minister Georgi Georgiev, to discuss the follow-up given by Bulgaria to the 2024 Rule of Law Report, with a focus on the areas of justice and fight against corruption.

The Commissioner will also meet with representatives of Bulgaria’s non-governmental organizations. In the afternoon, McGrath will exchange on the findings of the 2024 Rule of Law Report with Members of the Bulgarian Parliament, the press release says further.

It explains that the Commissioner undertakes this visit as part of the Annual Rule of Law Cycle, a yearly process that facilitates dialogue between the EU institutions, Member States, and stakeholders on rule of law developments. The 2025 Rule of Law Report is due in the middle of this year.

GNA/BTA

The Director in charge of Special Operations at the National Security Secretariat, Richard Jakpa, has disclosed that a manhunt is still underway for the alleged kingpin behind a sophisticated counterfeiting syndicate busted in Sapeiman, a suburb of Accra, in February.

During an exclusive tour of the crime scene with journalists, Mr. Jakpa revealed that the evidence retrieved from the site, described as overwhelming, has been left untouched to preserve its integrity as investigations continue.

The bust, which stunned many within the security establishment, led to the discovery of ten 40-foot containers filled with counterfeit Ghana cedi and US dollar notes.

Operatives believe that two of the containers were hastily moved out just before the operation commenced.

In a shocking twist, security personnel also uncovered several official Bank of Ghana (BoG) money boxes at the scene.

Authorities have since verified that these boxes are not replicas but genuine BoG property, raising further questions about how they ended up in the possession of the counterfeit syndicate.

One of the most eye-opening discoveries was an adjoining uncompleted building, deceptively modest in appearance, which served as the primary front for the illicit operation.

At its entrance, an elderly man locally known as the “Battery Doctor” ran a vehicle battery-charging service, a calculated ruse designed to deflect suspicion.

A walkthrough of the interior revealed stacks of counterfeit notes in multiple currencies and denominations.

Investigators also found a collection of fake gold bars, many of which were already peeling to reveal silver-colored metal beneath.

Mr. Jakpa confirmed that the operation was run by a highly organized criminal network. He stated that the group’s suspected mastermind, identified only as “Alhaji,” remains at large.

However, he assured journalists that National Security operatives are actively tracking his movements.

“We have solid evidence connecting Alhaji to the crime scene and to the broader network of illegal activities,” Mr. Jakpa said. “We are confident that it is only a matter of time before he is apprehended.”

The discovery of the counterfeit ring has sparked renewed concerns about financial security and the infiltration of national symbols by criminal elements.

National Security has pledged to bring all those involved to justice and to strengthen surveillance systems.

The Achimota Circuit Court has sentenced Nicky Isabella, a 22-year-old hairdresser, to five years imprisonment for trafficking two young Nigerian women to Ghana.  

Isabella, popularly known as Bella, lured the victims to Ghana under the pretext of offering them jobs but forced them into prostitution upon arrival.   

She was convicted after a full trial presided over by Mrs. Akosua Anokyewaa Adjepong.  

The victims, aged 22 and 23, were promised jobs at a supermarket in Adjiringanor, Accra. 

Instead, Isabella allegedly seized their earnings and made them swear an oath on a Bible, cutting pieces of their pubic hair and threatening to use them in rituals if they disobeyed her orders.  

The prosecution, led by Assistant Superintendent of Police (ASP) Isaac Babayi, revealed that Isabella conspired with an accomplice, Nelly, who is currently at large, to traffic the victims from Nigeria to Ghana in May 2024.  

ASP Babayi urged the court to impose a harsh sentence to deter similar crimes, emphasizing the premeditated and exploitative nature of Isabella’s actions.   

The trial judge considered Isabella’s young age, first-time offender status, and time spent in custody but noted her lack of remorse and the societal threat posed by human trafficking. 

Isabella, who had no legal representation, broke down in tears as the sentence was pronounced. Meanwhile, the Anti-Human Trafficking Unit of the Ghana Police Service is investigating to apprehend Nelly.  

The victims have been rescued and are receiving psychosocial support.  

Deputy Superintendent of Police (DSP) William Ayariga, Director of the Anti-Human Trafficking Unit, stated, “Ghana is not a safe haven for human traffickers. Those who lure vulnerable people into Ghana and force them into prostitution will face the full force of the law.”  

DSP Ayariga highlighted the Unit’s success in securing nine convictions last year, including a 20-year sentence under the Human Trafficking Act.   

He reaffirmed the Unit’s commitment to arresting, investigating, and prosecuting offenders.  

“We are not slowing down. We will continue arresting, investigating, and prosecuting offenders. No form of human trafficking or migrant smuggling will be tolerated in Ghana. Justice will prevail,” DSP Ayariga said.  

Court documents revealed that Isabella admitted to forcing the victims into prostitution and collecting their earnings.   

A search of her room uncovered a notebook used for recording proceeds and human hair, which she used to intimidate the victims. 

Source: GNA 

Bibiani GoldStars’ hope of moving to the top of the Ghana Premier League table suffered a setback as they lost to Dreams FC on Sunday. 

The Miners were dealt a blow with a 2-0 defeat at the Tuba Astro Turf against the Still Believe lads. 

Dreams came into the game on  the back of a good form in the league having lost none of their last five games. In that time, they had won four and drawn one. 

GoldStars, on the other hand, had lost one of five while winning three and drawing one. 

Salifu Abdul Razak opened the scoring for the home side for Karim Zito’s side after 35 minutes played. 

The lead was extended shortly before the break as former Ghana U-17 defender Izdeen Mohammed also got onto the scoresheet. 

The Miners went in search of the leveler in the second half but did very little to beat the Dreams FC goalkeeper who made some good serves as well.  

Dreams held their nerves and kept the visitors at bay, going on to pick up all three points. 

The win moves them to 36 points leveled with Bechem United and 10 points off the top spot. 

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