The Ghana Union of Traders’ Associations (GUTA) has opposed the recent increase in utility tariffs approved by the Public Utilities Regulatory Commission (PURC).

GUTA argued that the reasons for the tariff hike are unjustified, citing systemic inefficiencies, corruption, and mismanagement within the utility sector as the primary issues.

This was contained in a statement signed by the union’s General Secretary, Alpha Shaban on April 15.

The statement explained that the tariff hike unfairly burdens consumers, particularly domestic and commercial users, and criticizes the PURC and utility providers for failing to address wastage and corruption.

GUTA highlighted several problems, including inflated procurement costs benefiting individuals, ineffective bill collection from state institutions leading to debts passed on to consumers, rampant illegal connections, weak oversight by the PURC, and theft such as the missing ECG containers scandal.

On the back of this, GUTA is demanding stronger government action against corruption, including recovering stolen state assets and improving utility management.

They stressed the country’s potential for economic growth if resources are properly managed.

Mismanagement in the utility sector raises production costs for local industries and agriculture, worsening inflation and currency depreciation. GUTA urged collaboration among stakeholders to leverage resources for national development.

GUTA’s statement condemns the utility sector’s inefficiencies and calls for urgent reforms.

They stress the need for transparency, accountability, and better governance to protect consumers and stabilise the economy, arguing that Ghana’s development is hindered by corruption and poor management.

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eTranzact Ghana Limited, a leading provider of innovative payment technology solutions, has been honoured with two prestigious awards at the Ghana Corporate Finance Awards and Dinner Gala 2025.

The Fintech company won the Outstanding Payments Technology Provider of the Year 2024, while its Chief Executive Officer, John Apea, was crowned the Outstanding Fintech CEO of the Year.

These awards reaffirm eTranzact Ghana’s leadership in financial technologies service provision, commitment to the growth of the Fintech ecosystem as a pacesetter, and excellence in corporate finance.

eTranzact Ghana has consistently pioneered fintech industry transformation, integrating new technological innovations to enhance its business-to-business (B2B) and business-to-customer (B2C) offerings for improved client experience.

Winning Outstanding Payments Technology Provider of the Year highlights eTranzact’s successful deployment of user-friendly digital solutions, including the XCEL Ghana mobile app which has made day-to-day electronic transactions more convenient, secure, and efficient.

The innovative XCEL mobile app available on Apple store and Google platform enables sending and receiving money effortlessly to bank accounts, mobile wallets, and between XCEL virtual accounts, Micro-Savings with eSusu, Bill Payments and Airtime Top-Ups, Bill Payments & Airtime Top-Ups, Affordable Transaction Costs, and seamless payment gateways setting new standards in the industry and enabling millions of Ghanaians to access secure and convenient financial services.

These new laurels are the fourth for the brand this year as it was similarly crowned ‘Fintech Company of the Year’ 2024 and also secured the ‘Leading Payments Technology Service Provider’ of the Year for the second consecutive year, at the fourth Ghana Fintech Awards (GFA) held in March 2025.

The award-winning eTranzact CEO, John Apea, in an exclusive interview with the B&FT after the honours, emphasized that the awards reflect the company’s consistency in delivering reliable, scalable, and user-friendly payment solutions that empower businesses and individuals to transact with ease.

“What is interesting about the awards is that usually pioneers don’t win awards after 20 years of set up because new entrants try to justify themselves and win these awards, but we are still winning, which shows that we are always reinventing ourselves and raising the standards high.”

“These laurels again, are a testament to our hard work and continuous innovation. Most of the time, we are seen as pioneers in digital payment systems. Before the word Fintech became a sexy buy word, we were already doing it in a form known as ‘text me cash’,” he said.

Mr. Apea elaborated that the Fintech industry is a disruptive space and eTranzact is always trying to be disruptive and partners with banks and other FinTechs to innovatively deliver the best of products to the public.

He assured the public of the introduction of some new disruptive products that will be in the coming month before the end of year 2025.

The Ghana Corporate Finance Awards

The Ghana Corporate Finance Awards gala and dinner, organised by the Entrepreneurs Foundation of Ghana (EFG), was held under the theme, “Celebrating Excellence in the Corporate Finance Industry,” and is designed to highlight the most exceptional achievements of CEOs, organisations and service providers across the various categories within the finance industry.

It is a symbol of prestige that validates an organisation’s hard work and dedication.

The Financial service industry is the backbone of the Ghanaian economy, facilitating trade, investments and economic growth. Amidst the fierce competition and constantly changing market dynamics, standing out as a leader is a testament to an organization’s excellence.

This award program celebrates banks and financial institutions that have achieved remarkable success and growth. The award is based on achievements made in the period 1 January 2024 – 1 January 2025.

The CEO concluded that the company would continue to pursue excellence in delivering cutting-edge, secure, and reliable payment technology solutions to businesses.

Minority Leader Alexander Afenyo-Markin

The Minority in Parliament is raising red flags over what it describes as data manipulation by the government, following the announcement of a new staff-level agreement between the International Monetary Fund (IMF) and Ghana.

According to the Minority, discrepancies between fiscal figures presented by the Finance Ministry and those assessed by the IMF suggest deliberate efforts to misrepresent the country’s economic performance for political gain.

“While the Minister for Finance, in the 2025 Budget, announced the primary fiscal deficit on a commitment basis (the fiscal anchor of the IMF programme) to be 3.9% of GDP, the IMF found it to be 3.25%, a difference of about 0.7% of GDP,” the Minority stated.

They also accused the IMF of shifting the goalposts in its analysis, stating:

“The IMF itself departed from its own definition of the primary fiscal balance as outlined in the Technical Memorandum of Understanding agreed at the beginning of the programme.”

The Minority’s concern centers on the treatment of multi-year payables.

“By allowing multi-year payables to feature in the determination of the primary fiscal balance as if they occurred in 2024, the IMF Ghana Mission has effectively assessed the fiscal balance using metrics that differ from all previous reviews conducted under the programme.”

Despite their concerns, the Minority expressed hope that the IMF Executive Board’s final decision would be grounded in transparency and objectivity.

“We are confident that the Executive Board of the IMF will review the fiscal performance with integrity and ensure that our economy is free from data manipulation, thereby restoring confidence in the country’s fiscal data,” the statement concluded.

While acknowledging progress under the Extended Credit Facility programme, the IMF also flagged a sharp decline in performance toward the end of 2024.

The Fund cited several issues, including fiscal slippages ahead of the elections, ballooning government arrears, inflation overshooting targets, and stalled structural reforms.

If approved, the new agreement will unlock an additional US$370 million in financial support for Ghana, a critical injection as the country continues efforts to restore macroeconomic stability and investor confidence.

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Dr. Kharmacelle Prosper Akanbong, Acting Director General, GAC

Ghana has set the wheels in motion for the local manufacturing of HIV commodities including condoms, test kits and anti-retroviral medications, the Ghana AIDS Commission has announced.

Plans are afoot and officials are already in talks with pharmaceutical companies in the country to commence production in earnest from next year.

The move is part of a grand domestic HIV response sustainability programme to make the country self-reliant in the wake of the recent decline in foreign funding for the disease.

Dr Kharmacelle Prosper Akanbong, the Acting Director-General of the Commission, observed that about 80 per cent of the commodities used for HIV care services were imported, making local manufacturing extremely necessary.

He made the remarks when he met stakeholders in the Central Region to introduce himself as the new Director General and to rekindle collaborations in the response to HIV.

The meeting discussed achievements, setbacks, and new strategies to drive down the disease in Ghana.

Dr Akanbong noted that there were some existing pharmaceutical factories that had the capacity and would be supported with adequate technology.

“We are collaborating with GIZ who are bringing them technology, and we are looking at the challenges that affect the local manufacturers and with the support of the technology, those pharmaceutical companies should be able to produce those commodities that we want,” he said.

Aside from the HIV commodities, the Acting Director-General explained that the move also included the local manufacturing of vaccines through the West Africa Vaccines Centre, to save foreign exchange on the importation of medications, commodities, and vaccines.

“In the long term, we need to also strengthen our health system where we can have the capacity to do viral load, drug resistance and laboratory tests,” he stressed.

Dr Mrs Agnes Achiama Anane, the Acting Central Regional Director of Health, indicated that new HIV infections had increased in the region and it required all stakeholders’ participation to mitigate it.

She expressed worry over the worsened incidence of drug abuse and risky sexual behaviours among the youth, calling for intensified education on the virus.

She suggested that HIV clubs in various basic and secondary schools must be reactivated to drive behavioural change among students.

Dr Anane further raised concerns about the increasing number of patients on free treatment who were defaulting, citing stigma as leading cause.

Mr Bless Darkey, the Acting Regional Coordinating Director, acknowledged the progress made in the region over the years but was quick to admit that they were not out of woods yet.

He observed that despite the hard efforts by stakeholders, there had not been any serious behavioural change with new cases being recorded daily, stressing the need to strengthen the fight.

He commended the Director General for embarking on the exercise to whip up interest to combat HIV aids in the region.

Mr Emmanuel Essuman, the Central Regional Director of Education, pledged the commitment of the Ghana Education Service to the HIV response but urged stakeholders to follow due process to access the schools.

Dr Fred Nana Poku, the Director for Technical Services of the Ghana AIDS Commission, emphasised the need for Ghana AIDS Commission, the Ministry of Gender, human rights institutions, CSOs, MMDAs, the private sector, corporate institutions, and all relevant groups to strengthen the response.

“We need to collaborate and complement one another’s strength to drive down the new infections and the prevalence rate,” he said.

Ever heard of a colonial fort with a children’s dungeon and a unique shrine for the slaves? Find out the details with Etsey Atisu as he toured Fort William at Anomabo below:

 The Coordinating Director of the La Dade-Kotopon Municipal Assembly (LaD­MA), Daniel Nkrumah, has cau­tioned residents of La against open defecation, particularly along the La beach area, stating that those caught will face legal action.

‘’No one would be spared, if you are caught defecating openly along the La Beach or any place within the municipality’’ Mr Nkrumah cautioned.

Speaking at the inauguration of a new Water, Sanitation and Hygiene (WASH) facility at Kowe-Jorna in the Abafum-Abese Electoral Area on Thursday, Mr Nkrumah revealed that a dedicated sanitation task force would soon be formed to monitor and patrol the beach and other areas.

According to him, the task force would operate both day and night, and anyone caught engaging in open defecation would be prose­cuted at the La Sanitation Court.

The WASH facility, he said, comprises of a 32-seater water closet toilet, 20 bathrooms fitted with showers, two storage rooms, a gatehouse and a borehole.

The Director further elaborated that the project was made possible through a public-private partner­ship (PPP), between the assembly and Aging Developers Company Limited.

He urged the community to serve as ambassadors by encour­aging others to use the facility responsibly rather than going to the seaside.

“I urged you all to comply with the directives by ensuring that ev­eryone utilises this facility respon­sibly other than going to defecating at the seaside” Mr Nkrumah stated.

The Director stressed that maintenance was the key factor for a longevity of the facility and pleaded with the community to ensure nothing get destroyed or broken at the place.

He reiterates the commitment of the assembly to replicate such projects at all the communities in the municipality.

In a message delivered on her behalf, the Member of Parliament for La Dade-Kotopon Constit­uency, Rita Naa Odoley Sowah, stated that the project would help to improve sanitation and promote good health in the municipality.

The MP, who is also the Deputy Minister for Local Government, Chieftaincy and Religious Affairs, asked the operators of the facility to the ensure that the place was maintain regularly to curtail un­foreseen health issues.

The La Shiketele (Kingmaker), Nii Adjei Koofeh IV, expressed the Councils appreciation to the assembly for the provision of the facility and pleaded with the com­munity to make good use of it.

“No one has any excuse to def­ecate at the seaside again because the assembly has provided us with this modern WASH facility in the community, please use it respon­sibly for the sake of our health and wellbeing,” Nii Koofeh IV advised.

Nii Koofeh IV also entreated each user to make sure the place is safe and neat after they use it to enable the next user to use it without challenges.

 BY VICTOR A. BUXTON

The tariff of electricity has been increased by 14.75 percent and water by 4.02 percent from May 3

The Ghana Union of Traders’ Association (GUTA) has strongly opposed the Public Utilities Regulatory Commission’s (PURC) recent utility tariff increase, describing the justification as untenable, citing systemic mismanagement in the sector.

The Public Utilities Regulato­ry Commission (PURC) announced an upward adjust­ment in water and electricity tariffs effective May 3, 2025.

Under the new tariff adjustment, the tariff of electricity has been increased by 14.75 percent and water by 4.02 percent.

A statement signed by the new Executive Secretary of PURC, Dr Shafic Suleman, explained that a total payment of the outstanding revenues from the previous quarters had resulted in a much higher increase in both electricity and water tariffs.

However, according to a statement released on April 15, 2025, and signed by Secretary-General Azimy Alpha Ashaban, GUTA dismissed the reasons given by the PURC, adding that there is a lot of wastage in the sectors which first needed to be addressed.

“For us, these reasons do not hold water. We appreciate the fact that life is not static; changes are inevitable when they are necessary but not at the whim of any particular body.

“It is an open secret that there is a lot of wastage in the management of electricity and water, which every well-meaning Ghanaian will attest to this plain truth,” the statement read.

GUTA highlighted five key inefficiencies plaguing Ghana’s utility providers including inflated procurement costs benefiting individuals at state expense, poor debt collection from state institutions, burdening other consumers, unchecked illegal connections due to lax enforcement, regulatory failures in monitoring service providers and the theft of ECG assets, including missing containers recently found in Tema.

“If indeed the Public Utilities Regulatory Commission is strict on the management of these utility Service Providers to ensure there is value for money, most of the wastages due to a combination of factors, including stealing and stealing-related cases, could have been halted,” the association stated.

The traders’ body demanded immediate government action to recover stolen state funds and prosecute offenders, arguing that tariff hikes cannot substitute for proper sector reforms.

“GUTA is asking the state actors to sit up, collaborate with all relevant stakeholders, harness all available resources, and leverage them for our national development, rather than living in this seeming poverty and squalor in the midst of plenty.

“We, therefore, appeal to the government to focus much attention on this negative attitude to public service, identify all those who steal, divert, misappropriate, misapply and/or loot state funds or property and deal with them decisively to recover all stolen properties of the state,” the body concluded.

The PURC has yet to respond to these allegations as tensions mount between regulators and business operators ahead of the tariff implementation.

See the statement below:

ID/MA

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By Edward Dankwah

Accra, April 15, GNA – The Minister of Local Government, Chieftaincy and Religious Affairs, Mr. Ahmed Ibrahim, has announced that the Government will reintroduce National Sanitation Day on May 3, 2025.

“As such, a directive will be issued to all churches during the Easter weekend—Friday, Saturday, and Sunday—to inform their congregants on the urgent need to address the country’s sanitation challenges,” he stated,

Mr. Ibrahim made the disclosure during a courtesy call to the Christian Council of Ghana, the Presbyterian Church of Ghana, and the Southern Ghana Union of the Seventh-Day Adventist Church.

He was seeking their partnership in the fight against poor sanitation.

From early morning until 1000 hours on May 3, commercial activities will be suspended, shops closed, and citizens expected to refrain from work during this period.

Mr. Ibrahim stressed the importance of unified efforts to combat the ongoing cholera outbreak, which has claimed 49 lives, with 581 recorded cases across 58 districts since October.

“Tackling poor sanitation is a national concern, and it requires a united, collective effort from every citizen,” he emphasised.

“It is a shared responsibility, and together, we must take action” he added.

The minister highlighted environmental degradation caused by human activities, noting, “Fishermen increasingly return with plastic waste instead of fish, and farmlands face reduced soil fertility due to environmental damage.”

“While a ban on plastics may not be immediately feasible, our primary strategy is to promote recycling.

“With recycling plants already established in the country, the focus now is on public education and waste segregation,” he added.

The initiative will include nationwide clean-up efforts in partnership with environmental service providers to desilt gutters and collect waste.

Mr. Ibrahim urged engagement with traditional authorities, religious institutions, and communities to mobilize support.

Right Reverend Dr. Hilliard Dogbe, Chairman of the Christian Council of Ghana, pledged the Council’s commitment to support the initiative.

“We assure you of our full commitment to this cause, not merely as a responsibility, but as a moral and spiritual obligation,” he noted,

Dr. Dogbe linked ethical leadership to environmental stewardship, stating, “Caring for the environment is not only a national and civic duty but also a Christian obligation.”

“We assure you of our full commitment to this cause, not merely as a responsibility, but as a moral and spiritual obligation.

“We will continue to advocate strongly for environmental care and ensure it remains a priority in our collective actions,” he stressed.

GNA

KAS

The Electricity Company of Ghana has commenced the construction of another distribution line (feeder) to improve power supply in some Greater Kumasi towns under the Atwima Kwanwoma Constituency.

According to the power distributor, the Project which has seen 40% of work done is expected to be completed by the end of 2025 at a cost of GHs2,287,841.31.

Ing. George Amoah, ECG General Manager for Ashanti West Region disclosed that the project is a  Creation of a new 11kv feeder from the Kumasi Asekyem Primary Sustation to relieve the 11kv Kokoben and Ampabame feeders.

When completed consumers around Ahenema Kokoben, Trede, Heman, Darko, Ampatia, Ampabame, Kotwi, Pakyi, Bebu, Brofoyedru, Bekwame and its environs will benefit significantly.

Ing. Amoah explained that the new distribution line includes erecting 85 new Hight Tension poles, 11kV headgear, stringing of new conductors and other materials.

According to the Ashanti West Regional General Manager, Ing. George Amoah, the mission of the company which is  “to provide quality, reliable and safe electricity services to support the socio-economic growth and development of Ghana informed management’s decision to commence this project to provide convenience for our customers.

“We are aware of significant load growth towards the Ampabame enclave with the ongoing road construction and massive infrastructure springing up everyday, hence the need to initiate and complete this project to relieve existing distribution lines like Apire, Kokoben, Ampabame and also take care of future demand in the area.

The General Manager revealed that the project has the following benefits:

1)Reduction of system losses.

2)Improved reliability and stable power supply within the enclave to enhance customer satisfaction.

3) Improved Voltage Profile as the issues of low voltage will be addressed with the completion of this new distribution line.

4)Operational efficiency and flexibility since the company can now supply power to that enclave with four different distribution lines.

Ing. Amoah underscored the importance of this project as a step in the right direction towards the  provision of reliable and quality power supply to attract businesses to the Region and ensure all customers are happy with the services of ECG.

Ing. Amoah announced that the company is embarking on similar projects across the Region to improve electricity supply to customers.

He urged customers to desist from illegal connections and pay their bills promptly to enable ECG to serve them better through the completion of existing projects and initiation of new ones that will inure to their benefits.

Ing. Amoah also advised customers to take advantage of the newly introduced ECG cashless system by downloading the ECG PowerApp from Google playstore or AppStore or use the shortcode *226# to pay their bills before ECG Officials visit their premises.

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.

Cedi sells at GH¢21.00 at some forex bureaus

For the first time since November 2024, the British Pound is currently selling above GH¢21.00 at some forex bureaus.

The cedi has remained relatively stable in recent weeks, despite ongoing trade tensions in the United States.

According to the Bank of Ghana’s daily update on April 15, 2025, the cedi was trading at a buying price of GH¢15.50 and a selling price of GH¢15.52 to the US dollar.

The British Pound was being bought at GH¢20.43 and sold at GH¢20.46, while the Euro traded at a buying price of GH¢17.62 and a selling price of GH¢17.63.

However, checks by GhanaWeb Business on CediRates on April 15, 2025, at 2:40 PM indicate that the cedi is trading at GH¢16.05 to the dollar, while the Pound is being sold at GH¢21.00 at some major forex bureaus across the country.

Additionally, the Euro is trading at GH¢18.10 on the retail market.

In practical terms, converting £1,000 today would require approximately GH¢21,000.

Reports suggest that while the dollar rate has remained stable, the Euro and Pound have experienced fluctuations due to shifts by investors following recent trade agreements.

SSD/MA

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The Minority Caucus in Parliament

The Minority Caucus in Parliament has donated GH¢200,000 to support victims of the Kantamanto Market fire outbreak.

During a visit to the market on Tuesday, April 15, 2025, the Minority Leader, Alexander Kwamina Afenyo-Markin, appealed to the government to provide assistance to the affected traders.

“Parliament recently approved the 2025 budget; we are aware that the Contingency Fund exists to support individuals during times like this.

“We also appeal to financial institutions to take the situation into account and reduce interest rates to offer some relief.

“Additionally, we urge companies from whom traders have taken loans to consider the circumstances and ease the financial burden by lowering interest rates,” he remarked.

On January 2, 2025, hundreds of traders were displaced after a devastating fire engulfed the Kantamanto Market in Accra.

Watch the video below:

Minority donates GHS200k to Kantamanto fire victims

The Minority in Parliament, led by Alexander Afenyo-Markin, has donated GHS200,000 to support victims of the January 2 fire at Kantamanto Market.

They’ve also urged government to tap into the Contingency Fund to offer more… pic.twitter.com/1bgeSGW7Y5

— CITI FM 97.3 (@Citi973) April 15, 2025

JKB/MA

Ever heard of a colonial fort with a children’s dungeon and a unique shrine for the slaves? Find out the details with Etsey Atisu as he toured Fort William at Anomabo below:

Stephen Roudet is the IMF Mission Chief to Ghana

The International Monetary Fund has noted that due to Ghana’s elections and its corresponding expenses, its program deteriorated at the end of 2024.

According to the Fund, the new government has taken bold measures to address policy and reform slippages and ensure the achievement of program objectives since the beginning of the year.

In a release after the end of the fourth review, the IMF wrote, “Notwithstanding higher-than-expected growth and a further significant improvement in Ghana’s external position last year, program performance deteriorated markedly at end-2024. Fiscal slippages in the run-up to the elections led to a large accumulation of payables; inflation exceeded program targets; and several reforms were delayed.”

Ghana and the IMF have reached a staff-level agreement on a package of economic policies and reforms to conclude the fourth review of the 36-month ECF-supported program.

Once the review is approved by the IMF Executive Board, Ghana will have access to about US$370 million in financing.

The Minister of Finance, Dr Cassiel Ato Forson pledged his commitment to ensuring the smooth sailing of the program.

He said, “I would like to use this opportunity to assure the Ghanaian people, the IMF, and other key stakeholders that I will personally lead the charge to ensure the implementation of all our commitments under the Fund-supported program, which are necessary for the approval of the 4th Review by the IMF Board.”

SSD/MA

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The Western Regional Manager of the Ghana Forestry Commission, Nana Poku Bosompim, has revealed that nearly 3,000 hectares of land in the Takoradi enclave have been affected by illegal mining (galamsey) activities in recent times.

He made this disclosure following a recent raid on an illegal mining settlement in one of the region’s forest reserves.

“As I speak to you, I can confirm that nearly 3,000 hectares of forest reserve land in the Takoradi Forest District have been impacted and destroyed by the activities of illegal miners,” he stated on JoyNews’ The Pulse.

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.

IMF Managing Director, Kristalina Georgieva

The International Monetary Fund (IMF) has stated that the increase in electricity and other utility tariffs aims to reduce the shortfall in the energy sector.

The Bretton Woods institution further explained that the tariff adjustment is intended to put an end to the accumulation of new arrears.

In a publication on their website, as cited by GhanaWeb Business, the IMF noted that; “On the latter, the resumption of quarterly electricity tariff adjustments, combined with structural reforms, will help reduce the energy sector shortfall and stop the accumulation of new arrears,” the IMF stated.

The IMF’s comment comes after the Public Utilities Regulatory Commission (PURC) announced an upward adjustment in the average end-user tariff for electricity by 14.75%, and a 4.02% increase in water tariffs across the board for all categories of consumers.

According to PURC, the adjustment, which takes effect on May 3, 2025, is in line with its quarterly tariff review mechanism, as outlined in its rate-setting guidelines for the periodic adjustment of natural gas, electricity, and water tariffs.

The Commission noted that the adjustments were driven by factors such as the exchange rate, inflation, electricity generation mix, and the cost of fuel (mainly natural gas) used in the production of electricity.

The move, the Commission explained, is intended to avoid both over-recovery and under-recovery of revenues.

In July last year, the Commission increased utility tariffs, raising electricity by 4.22% and water by 1.18%.

SA/MA

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By Godwill Arthur- Mensah

Accra, April 15, GNA – The Government of Ghana is to provide between eight and 12 per cent interest rates loans to small-medium-sized enterprises (SMEs), especially to agribusinesses to expand for export.

The SMEs On-lending facility would be jointly managed by the 24-Hour Economy Secretariat under the Office of the President and the Bank of Ghana, Development Bank of Ghana and some private financial institutions.

The facility part 24-hour Economy Policy electioneering promise by the governing National Democratic Congress (NDC) ii the run-up to the 2024 general elections.

Dr Ishmael Nii Amanor Dodoo, Head of Innovative Finance, Markets and Partnership at the 24-Hour Economy Secretariat, announced the proposed facility during the media launch of the 2025 Horticulture Expo in Accra, on Tuesday.

Dr Dodoo said the unique financing model for agribusinesses and exporters was designed by government to enable those enterprises to deal with forex fluctuations and be competitive on the international market.

For agri-enterprises to access the SMEs On-lending facility, one has to belong to a recognisable association such as the Federation of Association of Ghanaian Exporters (FAGE) to de-risk investment payments to ensure loan recovery and sustainability of the facility.

The facility would also include provision of seed capital, extension services and technical capacity-building opportunities for agribusiness farmers to expand and add value to their products and services.

“This is not politics but a citizen-led initiative to grow agricultural-based businesses to take charge of our economy,” Dr Dodoo stated.

The 24-Hour Economy Policy, he explained, was about ensuring partnership with the private sector to unlock financial investments for agribusinesses, promoting food sufficiency and accelerating job creation opportunities for the Ghanaian youths.

Dr Dodoo said: “So, the 24-hour Economy Policy intends to increase our outputs, add value to our raw materials and ensure robust productivity.

“Ghanaians must take control of the US$77 billion GDP of our economy and that required us to deal with structural deformities in the economy and ensure strategic value chain.

“For instance, we need to take charge of the US$1.2 billion textile industry and ensure supply chain efficiency.”

Mr. Davis Narh Korboe, President of Federation of Association of Ghanaian Exporters, in his welcome remarks, expressed the Association’s determination to exceed five-billion-dollar export of non-traditional exports.

The second edition of the Horticulture Expo will take place at the Accra International Conference Centre (AICC) from June 11 to 13, this year.

The expo is expected to attract over 400 exhibitors and 5,000 participants both locally and internationally, to engage in business-to-business meetings, networking and seminars.

It is to aid Ghanaian exporters to connect to the international markets and forge partnerships for expansion of their businesses.

It would also enable exporters to be competitive on the global markets, adopt innovative approaches in doing business and adding value to their products.

Some of the key commodities that would be promoted and highlighted during the expo include coconut products, mango, pineapples, sweet potatoes, onions and growing of chilies.

GNA

BM

By Benjamin A. Commey/Jibril Abdul Mumuni

Accra, April 15, GNA – A financial literacy conference held in Accra has called for a national shift in money management, emphasizing financial education as vital for personal prosperity and economic stability.

The event, held on the theme “Building Wealth, Changing Lives, Strengthening Communities through Personal and Financial Education,” was organized by the Centre for Financial Literacy Education (CFLE) Africa.

It brought together banking executives, government officials, and business leaders to address financial literacy challenges in Ghana.

Mr. John Awuah, President of the Ghana Association of Bankers, underscored the importance of prudent money management for financial stability.

“Building wealth was not a matter of luck or inheritance but rather the result of consistent discipline and sound financial commitment,” he said.

Mr Awuah noted that financial literacy was a practical skill that required consistent application and said, “This disciplined approach to managing resources is essential for individuals seeking genuine financial freedom and security.”

He also noted that macroeconomic factors like inflation and government debt impacted personal finances.

“This underscores the importance of expanding financial literacy beyond basic personal finance to include an understanding of economic trends and policy decisions.

“By comprehending the larger financial landscape, individuals can make more informed choices to safeguard their wealth and navigate economic uncertainties effectively,” he explained.

Mr. Peter Asare Nyarko, Executive Director of CFLE, stressed the role of financial literacy in fostering stable communities and combating poverty.

“These real-world outcomes demonstrate that understanding basic financial principles empowers individuals to make informed decisions that directly improve their lives and the well-being of their families,” he noted.

Keynote speakers included Dr. Eric Boachie Yiadom, Financial Economist and Senior Lecturer at the University of Professional Studies, Accra; Prof. Enoch Opoku Anti, Dean at Academic City; and Prof. Paul Adjei Onyinah, Associate Professor at Pentecost University.

GNA

KAS