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Ted News Ghana Blog of Friday, 28 March 2025

Source: TEDDY VAVA GAWUGA

Ghana’s growing sanitation crisis could soon see a dedicated financial solution, as the Minister for Local Government, Chieftaincy, and Religious Affairs, Ahmed Ibrahim, has announced plans to introduce a Sanitation Fund and Levy to tackle waste management challenges nationwide.

Speaking on the urgent need for sustainable funding, Mr Ibrahim stated, “When you are creating a fund, it means you are instituting a tax,” stressing that insufficient financial resources remain the biggest obstacle to solving the country’s sanitation problems.

The proposed levy, expected to be discussed when Parliament reconvenes, aims to provide a stable revenue stream to combat Ghana’s deteriorating waste management system.

According to a 2023 report by the World Bank, only 21 per cent of Ghanaians have access to improved sanitation facilities, with over 17,000 deaths annually attributed to poor sanitation and hygiene.

Ghana generates approximately 1.1 million metric tons of plastic waste annually, of which only 5 per cent is properly recycled, according to the Ghana Plastic Action Partnership.

The remainder contributes to severe environmental pollution, including clogged drains, flooding, and health hazards.

If implemented, the sanitation levy could significantly enhance waste collection services, improve public cleanliness initiatives, and upgrade sanitation infrastructure.

The government hopes to mirror successful models from countries like Rwanda, where strict sanitation policies and financial commitments have helped achieve a 90 per cent waste collection rate in Kigali.

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.

Governor of the Bank of Ghana, Dr Johnson Asiama has said that the global economy was resilient through 2024, supported by strong real income growth and a less restrictive monetary policy stance relative to 2023.

In the first few months of 2025, he said, trade frictions arising from an emerging tariff war, elevated
global interest rates, and geopolitical tensions have heightened uncertainty about the global growth outlook.

“These uncertainties have weighed negatively on consumer and business confidence, softened investor sentiment, and increased downside risks to growth,” Dr Asiama said during the 123rd Monetary Policy Committee (MPC) press conference held in Accra on Friday, March 28.

He added “The disinflation path has stalled in some Advanced Economies, on the back of persistence in services inflation, resurgence in goods inflation, and the recent tariff actions by the U.S. The imposition of additional tariffs by the U.S. and retaliatory responses have pushed up long-term inflation expectations in some Emerging Market Economies. In addition, the process of disinflation, which was
expected to be supported by a decline in crude oil prices, could be partly offset by the effect of the tariff increases. Against this backdrop, global inflation is expected to remain high in the near-term.”

Regarding the Policy Rate, the MPC, by a majority decision, decided to increase it from 27 per cent to 28.

Dr Asiama said that “While headline inflation has declined marginally, it remains a concern. Both food and non-food inflation are significantly above expectation, and core inflation remains elevated. While food inflation was driven largely by supply side factors, preventing second-round effects from such increases will be essential.

Read Also: Monetary Policy Committee of Bank of Ghana raises Policy Rate to 28%

“The persistent inflation dynamics over the past year, partly driven by both fiscal and monetary policy missteps, will require a policy reset to re-anchor the disinflation process. To restore price stability going forward will require a tight monetary policy stance, strong liquidity management, and commitment to the 2025 budget which seeks to reset the fiscal consolidation process.

“Under the circumstances, the Committee, by a majority decision, decided to raise the Monetary Policy Rate by 100 basis points to 28 percent to re-anchor the disinflation process. As inflation becomes firmly anchored, the Committee will reassess the scope for a gradual easing in the policy stance,” he said.

During the opening day of the sitting, Dr Asaiama said that while inflation is easing, it remains uncomfortably high, at over 23%.

He noted that progress has been slow, particularly on a month-on-month basis.

For instance, he said, structural drivers of food inflation remain persistent. He also stated that the external environment, though currently supportive, is becoming increasingly volatile.

“We’ve seen a strong trade surplus and solid reserve build-up on the back of gold exports and remittance flows. But a possible escalation in global tariff wars, rising geopolitical tensions, and weakening Chinese demand could quickly shift the dynamics. These global factors could also have spillover effects on inflation, capital flows, and exchange rate stability,” Dr Asiama said during the 123rd sitting of the MPC on Monday, March 24.

Domestically, Dr Asiama said, the 2024 fiscal outturn was expansionary, with the deficit exceeding program targets.

“We have seen encouraging signs of consolidation early in 2025, but questions remain as to whether current measures are adequate to anchor expectations and satisfy upcoming IMF program reviews.”

He also notes that financial conditions are evolving quickly. Liquidity in the system has increased, commercial banks have raised concerns about the Capital Requirements Regulations (CRR) framework, and “we must carefully assess its macrofinancial implications—especially with respect to inflation, foreign exchange demand, and credit growth.”

While private sector credit is recovering in nominal terms, real credit growth remains modest, he said.

“Banks are still cautious, and Non-Performing Loan (NPL) levels remain a concern. Meanwhile, our microfinance and rural banking sectors are showing early signs of stability, but recapitalization and regulatory reforms must continue to preserve confidence.

“We must also acknowledge that some of today’s challenges stem from earlier monetary and fiscal policy missteps—particularly loose fiscal policy during periods of macro stress, weak monetary fiscal coordination, and delays in key structural reforms. These contributed to elevated inflation, impaired policy transmission, and a loss of credibility. It is essential that we reflect on these issues—not to assign blame, but to strengthen our institutions and avoid repeating past mistakes.”

These are outside the scope of today’s immediate rate decision, but they will shape the broader monetary policy landscape over the medium term, he said.

In short, he added “we are facing a convergence of risks: stubborn inflation, elevated liquidity, soft real interest rates, a fragile fiscal recovery, and growing external uncertainty. But we also have buffers—strong reserves, improving sentiment, and the credibility of our policy framework—to guide us.

“Our task over the next few days is to weigh these developments rigorously, and to reach a policy stance that reinforces the disinflation path without undermining the recovery or destabilizing market expectations. I trust that our discussions will be candid, evidence-based, and guided by our shared mandate of maintaining price stability and supporting sustainable growth.

As Ghana celebrates its Heritage Month in March, the Gaming Commission of Ghana organised a cooking competition on Thursday, March 27, 2025, to promote indigenous Ghanaian foods.

The event brought together cooking enthusiasts to showcase the country’s rich culinary heritage.

Acting Director of the Gaming Commission, Emmanuel Quainoo, highlighted the motive behind organising the programme was to promote the consumption of indigenous foods and celebrate Ghana’s rich cultural heritage.

“Contestants were tasked with preparing traditional Ghanaian dishes using locally sourced ingredients. Moving forward, the plan is to have an inter-sector competition among all commissions under the Interior Ministry,” he said.

The competition featured five groups representing the Ashanti, Northern, Southern, Western, and Volta zones.

A judge for the competition, Elizabeth Akosua Agyapong, emphasised cleanliness as a fundamental requirement when cooking, which was also a key criterion in scoring contestants.

“Time, cleanliness, and the presentation of the food were used in scoring the contestants. The Western Zone met most of my expectations, though the other groups also performed well,” she said.

The Western Zone, which prepared braised rice, boiled plantain with kontomire, and garden egg stew, emerged as the winner.

A member of the group, Benedicta Andoh, explained that the choice of food was selected through a ballot.

However, with adequate preparation, they were able to win the competition.

“Being optimistic about winning, I was not too surprised when my group emerged victorious because I am an expert in preparing boiled plantain with kontomire and garden egg stew. Though we faced some challenges in the beginning, I am glad we won in the end,” she said.

Ghanaian cuisine is renowned for its rich flavours, creativity, and its unique ability to bring people together.

Africa Zone, a proud sponsor of the competition, expressed its commitment to preserving family values, including cooking.

“For us, cooking is what we do. It is a way for families and members of an organisation to come together. We saw this competition as an opportunity to reinforce our values in partnership with the Gaming Commission,” a representative from Africa Zone stated.

As we continue to celebrate Ghana’s Heritage Month, let us remember the importance of preserving our cultural heritage and promoting indigenous Ghanaian foods.

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.

This blog is managed by the content creator and not GhanaWeb, its affiliates, or employees. Advertising on this blog requires a minimum of GH₵50 a week. Contact the blog owner with any queries.

Ted News Ghana Blog of Friday, 28 March 2025

Source: TEDDY VAVA GAWUGA

Sammy Gyamfi is the Acting MD of PMMC

The Acting Manager Director of the Precious Minerals Marketing Company (PMMC), Sammy Gyamfi, has stated that the GoldBod is coming to end illegal mining.

This, he said, forms part of the entity’s quest to buy and sell gold to deal with the recurrent ravages from the effects of illegal mining, popularly known as galamsey, in the country.

His comment comes im reaction to a press conference held by the Minority Leader in Parliament, Alexander Kwamina Afenyo-Markin, during which he claimed that the Golbod was rather going to enhance the activities of illegal mining in the country.

But, according to Sammy Gyamfi, the work of the Goldbod is rather to streamline work of the sector and eliminate the activities of such unauthorised miners.

“Goldbod is coming to end illegal mining as our work of buying and selling gold will deal with illegal small-scale miners.

“This will force out the illegal miners as their activities will no longer be recognised, while they will be dealt with when they attempt to smuggle gold,” he told journalists at Parliament on Friday, March 28, 2025.

Earlier, Sammy Gyamfi had indicated his strong conviction that the Golbod bill currently before Parliament will be passed before the House rises.

Both sides of the House have so far expressed great enthusiasm about the bill, with the Minority making few suggestions aimed at enhancing the bill.

AE

The Monetary Policy Committee (MPC) of the Bank of Ghana, by a majority decision, has raised the policy rate by 100 basis points to 28 per cent.

In addition to the adjustment in the policy rate, the Bank is implementing complementary measures to strengthen liquidity management and enhance monetary policy transmission. 

Dr. Johnson Asiama, Governor, Bank of Ghana, said the Bank would introduce a 273-day instrument to augment the existing sterilization toolkit.

The Governor was speaking at the 23rd MPCs press briefing in Accra on Friday.

He said the Bank would also intensify the monitoring of banks’ Net Open Positions to ensure compliance and review the current structure of the Cash Reserve Ratio (CRR) to assess its broader impact on liquidity conditions and financial intermediation in the economy.

He said as inflation becomes firmly anchored, the Committee would reassess the scope for a gradual easing in the policy stance. 

He said the Committee noted that the global environment had become more challenging, reflecting trade and economic policy uncertainty. 

He said the series of tariffs announced by the U.S. administration was evolving and might have negative effects on the global economy.

He said the persistence of these external headwinds might spill over to the domestic economy through the trade and financial channels, highlighting the need for policy to remain proactive.

He said on the domestic front, early indications point to improved growth prospects.

The Governor said the Bank’s CIEA rebounded, and the Ghana Purchasing Managers’ Index moved above the 50-benchmark in February, implying increases in new orders by companies. 

“Both business and consumer confidence have improved, and private sector credit growth was recovering and these developments suggest a positive outlook for the economy,” he said.

Dr Asiama said the external sector outlook remained strong and this was against the backdrop of increases in gold exports driven by sustained implementation of the Gold-for Reserve programme, continued growth in remittance inflows, and commitment to the implementation of policies and reforms under the IMF programme.

 He said the continued buildup of reserve buffers was expected to support the stability of the currency.

He said the banking sector had remained broadly stable and Credit risks within the banking sector, however, remained elevated, as underscored by increased non-performing loan ratios. 

The Bank’s latest macroprudential risk assessment indicates some moderation in systemic risks on the back of improved solvency, liquidity, efficiency, and profitability, he said.

He said going forward, the Bank would continue to closely monitor undercapitalised banks to safeguard the stability and soundness of the banking sector.

The Committee observed that the fiscal stance was expansionary in 2024 and this had created significant fiscal impulses, and a liquidity overhang that needs to be carefully managed. 

The strong liquidity conditions could spill over into other segments of the economy and derail the disinflation path. 

“While the government has signalled a strong commitment to fiscal consolidation, monetary policy restraint is required,” he added.

While headline inflation has declined marginally, it remains a concern, both food and non-food inflation are significantly above expectation, and core inflation remains elevated.

He said while food inflation was driven largely by supply side factors, preventing second-round effects from such increases would be essential.

The Governor said the persistent inflation dynamics over the past year, partly driven by both fiscal and monetary policy missteps, would require a policy reset to re-anchor the disinflation process.

“To restore price stability going forward would require a tight monetary policy stance, strong liquidity management, and commitment to the 2025 budget which seeks to reset the fiscal consolidation process,” he added.

Source: GNA 

Parliament has passed the Public Procurement Authority Amendment Bill 2025, introducing a key reform that mandates written authorization from the Finance Minister, Dr. Cassiel Ato Forson, for all government-funded procurements.

The amendment is designed to promote budgetary discipline and curb financial commitments beyond approved allocations.

Explaining the necessity of the reform on the floor of Parliament, Dr. Ato Forson stated: “Mr. Speaker, the object of the Bill is to amend the Public Procurement Act (Act 663) to introduce a requirement for commitment authorization to accompany all government-funded procurement.”

He highlighted concerns over previous procurement practices that have led to financial arrears, saying:

“Mr. Speaker, one of the critical challenges that have contributed to the accumulation of arrears is the practice of awarding contracts without ensuring the availability of funds for payment. To address this, the government, as part of the 2025 Budget measures, has directed that all procurement funded by the central government must be accompanied by written authorization from the Minister responsible for Finance.”

The newly passed legislation is expected to reinforce financial accountability, ensuring that government contracts are backed by available funds before they are awarded.

President John Mahama has nominated Killian Donkor for the position of Municipal Chief Executive (MCE) for Kpando municipality in the Volta Region.

The nomination, is however, subject to the approval by the municipal assembly.

A terse statement signed by Ahmed Ibrahim, Minister for Local Government and Rural Development, said the president’s nomination is in accordance with Article 243 (1) of the 1992 Constitution and Section 20 (1) of the Local Governance Act, 2016 (Act 936) (as amended).

Meanwhile, President Mahama on Thursday, March 27, 2025, nominated 71 persons for appointment as chief executives of metropolitan, municipal and district assemblies (MMDAs) in eight regions, pending approval from their respective assemblies.

The regions with metropolitan, municipal and district chief executives (MMDCEs) are Volta, Oti, Ahafo, Savannah, Bono, Bono East, North East and Western North.

“The nominees will undergo the necessary approval process in their respective assemblies before taking office,” the statement said.

They are required to be approved by not less than two-thirds of assembly members in their respective assemblies to assume their roles.

The nomination of the 71 leaves the President with 190 more MMDCE positions to fill out of the overall 261 assemblies across the 16 regions.

Nominees

There were 17 nominees for the Volta Region instead of 18, with that of Kpando pending, while all of Oti Region’s nine, Ahafo Region’s six, Bono Region’s 10, Bono East Region’s nine, Savannah Region’s five, North East Region’s six and Western North Region’s nine all catered for in the first batch of nominations.

For the Volta Region, the nominees include Stephen Adom for Ho; Prosper Kumi for Hohoe; Nicholas Kwabia Worlachie for Ketu South; Rev. Martin Amenaki for Ketu North; Wisdom Bondiru Seade for Keta; Jerry Yaw Ameko for Adaklu, and Manfred Tawiah for Afadzato South.

The rest are Alfred Klu Odikro for Agotime-Ziope; Bless Kodjo Katamani for Akatsi North; Daniel Dogba for Akatsi South; Sandra Seyram Kpedor for Anlo; Dedzi Mornyie Addison for Central Tongu; Prosper Francis Dussey for Ho West; Victoria Amefadzi Yawa Doe for North Tongu; Courage Kwame Kokroko for South Dayi; Victoria Dzeklu for South Tongu, and Ernest Adevor for North Dayi.

For the Oti Region, the nominees are Dr Sam Suraj Issaka for Akan; Eric Kwaku Oppong for Biakoye; Parke-Davis Magyigbe for Buem; Godfred Koku Koffie for Guan; Safo Nketia for Krachie East; Kofi Martin Anato for Krachie-Nchumuru; Prosper Kwaku Addo for Krachie West; Isaiah Kudjo Dordoe for Nkwanta North, and Joseph Anwti for Nkwanta South.

With regard to the Ahafo Region, the nominees are Joseph Akparibo for Asunafo North; Benjamin Yinka for Asunafo South; Dauda Hafiz Dabell for Asutifi North; Assibil Donkor Benjamin for Asutifi South; Sampson Plus Oppong for Tano North; and Emmanuel Kwame Frimpong for Tano South.

That of the Bono Region are Collins Soma for Berekum West; Peter Dongi for Banda; Osei Owusu King for Dorma East; Stephen Azorba Awuni for Dormaa West; Dominic Adomah Ameyaw for Dormaa Central; Gloria Opoku Gyamfi for Wenchi; Salia Addisah for Tain; Vincent Antwi Agyei for Sunyani East; Siata Watara for Jaman South, and George Andani for Jaman North.

The nominees for Bono East are Ofornnyl Fredrick K. Nkrumah for Sene East; Khaari Fuseini for Sene West; Dauda Abdul Nassir for Pru East; Samuel Agyapong for Pru West; Isaac Donkor for Kintampo North; Wilfred Zuuri for Kintampo South; Patrick Effah for Nkoranza North; Godfred Dapaa for Nkoranza South, and Johnson Kwabena Adom for Techiman North.

The nominees for Savannah Region are Saaka Sinkina for Sawula-Tuna-Kaliba; Abdulai Nassiru for Gonja North; Mahama Fuseini for Central Gonja; Abdul Munin Ewutimah for North East Gonja, and David Rabiu Kassim for Salaga South.

The North East Region nominees are Ali Joseph Lachiri for Bunkpurugu; Seini Amadu Kofi for Chereponi; Daniel Barichi Bukari for Mamprusi East; Abdul Rahman Abdul-Aziz for Mamprugu Moaduri; Mohammed Rabiu Jabaa for Mamprusi West, and James Alhassan for Yunyoo/Nansuan.

For the Western North Region, the nominees are Joseph Appiah for Akontombra; Stephen Morcher for Aowin; Francis Amankwah for Bia East; Matthew Annor for Bia West; Sebastian Obeng for Bibiani Anhwiaso Bekwai; Stephen Baidoo for Bodi; Alexander Adu Quist for Juaboso; Dominic Gyasi for Wiawso, and Vasco Obuor for Suaman.

The appointments come after President Mahama, on January 8, 2025, revoked the appointments of all MMDCEs appointed under the previous administration with immediate effect.

The decision was conveyed in a letter signed by the Secretary to the President, Dr Callistus Mahama.

The revocation came under the authority granted to the President by the Local Government Act of 2016 (Act 936) as amended by the Local Government (Amendment) Act, 2017 (Act 940).

The 1992 Constitution grants the President the power to appoint MMDCEs subject to approval by the local assembly members.

KA

Meanwhile, catch the first in the series of our special episodes on Forgotten Forts on People and Places on GhanaWeb TV below. This episode focuses on Fort Amsterdam at Abandze:

The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has noted that the global environment has become more challenging, reflecting trade and economic policy uncertainty.

President Donald Trump on Wednesday, March 26 announced 25% tariffs on all cars shipped to the United States, a significant escalation in a global trade war.

The tariffs, set to take effect on April 3 at 12:01 am ET, are aimed at expanding America’s auto manufacturing prowess. For decades, because of a free trade agreement, automakers have treated Canada, Mexico and the United States as one big country, with no tariffs among them. Although the United States is home to a significant automaking industry, Trump wants to grow it.

“Frankly, friend has been oftentimes much worse than foe. And what we’re going to be doing is a 25% tariff on all cars that are not made in the United States,” Trump told reporters on Wednesday before signing an executive proclamation in the Oval Office. “If they’re made in the United States, it’s absolutely no tariff.”

Speaking during the 123rd MPC press conference in Accra on Friday, March 28, Governor of the BoG Dr Johnson Asiama said that  “The series of tariffs announced by the U.S. administration is evolving and may have negative effects on the global economy.”

He further stated that these developments have already triggered downgrades in Gross Domestic Product (GDP) growth forecasts in the two largest economies—U.S. and China—and in turn, global growth. In addition, the disinflation process appears to have stalled in some countries, while financial conditions remain broadly restrictive as central banks slow the pace of monetary policy easing.

“The persistence of these external headwinds may spill over to the domestic economy through the trade and financial channels, highlighting the need for policy to remain proactive,” he said.

On the domestic scene, Dr Johnson Asiama said that prices of Ghana’s major export commodities traded mixed on the international commodities market in early 2025.

He said “Gold prices crossed the US$3,000 per fine ounce on March 14, 2025, on account of heightened economic uncertainty triggered by the trade and geopolitical tensions, persistent inflation, and weakening US dollar.”

In February 2025, he said, gold prices averaged US$2,897.3 per fine ounce, indicating a year-on-year growth of 9.7 percent. Similarly, crude oil prices recorded a marginal annual growth of 2.4 percent to settle at an average price of US$74.95 per barrel.

Cocoa prices, however, declined by 8.5 percent driven by improving supply outlook for the current 2024/25 season, Dr Asiama stated.

In the banking sector, Dr Asiama said that banks’ performance continued to improve.

Total bank assets recorded 34.0 percent growth at the end of February 2025 relative to 12.1 percent growth, in the same period last year, he said.

With regulatory reliefs, the banking industry’s Capital Adequacy Ratio (CAR) was higher at 14.4 percent compared to 13.6 percent in the same period last year, Dr Asiama added.

Read Also: Global inflation is expected to remain high in the near-term – BoG Boss

“Without reliefs, CAR was 12.1 percent. The industry’s Non-Performing Loan (NPL) ratio declined to 22.6 percent in February 2025 from 24.6 percent in February 2024. Excluding the loans in the loss category, which are fully provisioned, the NPL ratio as at end-February 2025 was 8.9 percent,” he said.

Dr Asiama further stated that overall, the Financial Soundness Indicators showed broad improvements in asset growth, solvency, liquidity, efficiency, and profitability.

.The fiscal policy stance was more expansionary than expected in 2024. The 2024 fiscal deficit, on commitment basis, was 7.9 percent of GDP against a target of 3.8 percent of GDP, on the back of higher expenditures than target.

“This notwithstanding, early indications from banking sector data suggest some improvements in fiscal performance in early 2025.

“This, along with the commitment to fiscal consolidation presented in the 2025 budget, should support the fiscal outlook. Also, the ratio of public debt declined supported by the debt restructuring,” he said.

Dr Asiama also said that private sector credit is beginning to show signs of recovery.

In February 2025, he said, private sector credit recorded 26.9 percent annual growth, compared with 5.1 percent in February 2024. In real terms, he added, credit growth was 3.1 percent, compared with a decline of 14.7 percent in February 2024.

Rev John Ntim Fordjour, the Ranking Member on Parliament’s Defence and Interior Committee, has called for the Energy Minister, John Abdulai Jinapor, to be held accountable if he fails to recover the stolen containers belonging to the Electricity Company of Ghana (ECG) and prosecute those responsible. 

In a social media post on Friday, 27th March, he expressed deep concern over the disappearance of 1,328 containers containing ECG equipment and accessories. 

He insisted that the Minority in Parliament would not allow the matter to be swept under the carpet.

“From 3,000 to 2,500, now we’re told 1,400 containers of ECG equipment and accessories, imported into the country and paid for, have suddenly obtained wings and flown away. So far, only 40 of the missing containers have been found,” Ntim Fordjour stated. 

He emphasised the need for accountability and full recovery of the missing containers, describing the incident as an “unprecedented scandal” involving $700 million.

The legislator further demanded that all those involved be prosecuted, regardless of their political affiliations. 

“Crime has no colours, so the NDC must fully account for these containers and purge themselves of this unprecedented scandal. Whoever is culpable must be prosecuted, regardless of their political colours. Stop blaming only the foreign nationals involved in this syndicate.”

“They bought these stolen containers from Ghanaians who are within the Ministry of Energy and ECG. No Indian nor Chinese works at ECG or the Ministry of Energy,” he argued.

Rev Ntim Fordjour also took a swipe at the authorities for their perceived inaction, calling for urgent measures to track down the missing containers. “Is this not the time Commando Jakpa must load his guns and storm the port to track these stolen containers?” he quipped. 

He insisted that the Energy Minister must take full responsibility for the scandal, stating, “The Minister for Energy must be held accountable if he fails to bring back the stolen containers and prosecute the culprits.”

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 banking sector performance continued to improve, Governor of the Bank of Ghana (BoG) Dr Johnson Asiama has said.

Total bank assets recorded 34.0 percent growth at the end of February 2025 relative to 12.1 percent growth, in the same period last year, he said.

With regulatory reliefs, the banking industry’s Capital Adequacy Ratio (CAR) was higher at 14.4 percent compared to 13.6 percent in the same period last year, Dr Asiama added.

Read Also: Global inflation is expected to remain high in the near-term – BoG Boss

“Without reliefs, CAR was 12.1 percent. The industry’s Non-Performing Loan (NPL) ratio declined to 22.6 percent in February 2025 from 24.6 percent in February 2024. Excluding the loans in the loss category, which are fully provisioned, the NPL ratio as at end-February 2025 was 8.9 percent,” he said during the 123rd Monetary Policy Committee press conference in Accra on Friday March 28.

Dr Asiama further stated that overall, the Financial Soundness Indicators showed broad improvements in asset growth, solvency, liquidity, efficiency, and profitability.

.The fiscal policy stance was more expansionary than expected in 2024. The 2024 fiscal deficit, on commitment basis, was 7.9 percent of GDP against a target of 3.8 percent of GDP, on the back of higher expenditures than target.

“This notwithstanding, early indications from banking sector data suggest some improvements in fiscal performance in early 2025.

“This, along with the commitment to fiscal consolidation presented in the 2025 budget, should support the fiscal outlook. Also, the ratio of public debt declined supported by the debt restructuring,” he said.

Dr Asiama also said that private sector credit is beginning to show signs of recovery.

In February 2025, he said, private sector credit recorded 26.9 percent annual growth, compared with 5.1 percent in February 2024. In real terms, he added, credit growth was 3.1 percent, compared with a decline of 14.7 percent in February 2024.

Dr Rashid Pelpuo with some CLOGSAG executives

The Minister for Labour, Jobs, and Employment, Dr. Rashid Pelpuo, has once again demonstrated strong leadership in labour negotiations, this time engaging the Civil and Local Government Staff Association of Ghana (CLOGSAG) over their ongoing strike.

During a crucial meeting with CLOGSAG executives, Dr. Pelpuo appealed to them to reconsider the strike while the government actively works to address their demands.

His persuasive negotiation skills and deep understanding of the workers’ concerns resonated so strongly with the leadership that they broke into song in his honor, an unprecedented display of admiration.

Dr. Pelpuo’s commitment to fair wages and improved working conditions is well recognized, having previously played a key role in negotiating a 10% salary increase for public sector workers under the Single Spine Salary Structure (SSSS).

This successful wage adjustment remains a major achievement in his tenure, reflecting his dedication to ensuring fair compensation for Ghanaian workers.

His ability to foster dialogue, build trust, and find common ground in labor disputes continues to reinforce confidence in his leadership.

As negotiations progress, Dr. Pelpuo remains focused on securing a balanced resolution that meets the needs of workers while ensuring national stability and development.

Bangkok, Mar. 28, (dpa/GNA) – At least 144 people have been killed and more than 700 are injured in Myanmar after powerful earthquakes struck South-East Asia on Friday, the country’s military leadership said on state television.

Tremors from the quakes were also felt in several neighbouring countries, including Thailand, where images shared online showed workers fleeing as a high-rise building under construction collapsed.

Thai officials reported three deaths and 68 injuries, while media reports said dozens of workers remained missing hours after the quakes.

The United States Geological Survey (USGS) reported that a 7.7-magnitude earthquake hit at around 12:50 pm (0620 GMT). Readings from other services have varied.

USGS said the epicentre was about 16 kilometres from the city of Sagaing in north-western Myanmar. A few minutes later, the USGS registered another earthquake a little to the south with a magnitude of 6.4.

Myanmar junta declares state of emergency

In Myanmar, media reports citing rescue workers and witnesses said that buildings have collapsed, trapping people beneath the rubble.

A rescue worker told dpa that hospitals in Mandalay, a city near the epicentre, were overwhelmed by the number of injured.

He reported scenes of chaos and that there were too few volunteers to help free the number of people trapped beneath the debris.

Getting information from the situation in Myanmar has been difficult as the country has been in political turmoil since a military junta seized power in a 2021 coup.

Millions of people have been displaced by the ongoing fighting.

Military junta leader Min Aung Hlaing announced on television that he had requested assistance from the international community and various organizations.

He added that India and the Association of Southeast Asian Nations (ASEAN) have been authorized to support volunteer efforts in the affected regions.

The military junta has also declared a state of emergency in several parts of Myanmar. A spokesman for the junta said hospitals are in urgent need of blood supplies.

Red Cross reports devastating damage

The Red Cross in Myanmar has reported devastating damage and has spoken to staff in the affected region, according to Marie Manrique, the organization’s programme manager on the ground.

There is great concern that dams on the Irrawaddy River may have been damaged and could break. Manrique said that 18.5 million people live in the affected area near the city of Sagaing.

According to the Office of the United Nations High Commissioner for Refugees (UNHCR), around 1.6 million of the 3.5 million people displaced in Myanmar live in the region hit by the earthquake.

“We are very concerned about the possible humanitarian consequences,” said Manrique. “We expect a lot of people to be injured.”

Tremors felt in Thailand and neighbouring regions

The quake also rattled Thailand’s capital Bangkok, where the earth shook for several minutes and people left their homes in panic, according to a dpa reporter. Sirens could be heard hours after the quake struck.

In the Silom district in the centre of the capital, thousands of people were on the streets, many running.

Volunteers were immediately deployed, instructing people to get out into the open and leave the buildings. Patients were brought out of the hospitals onto the streets.

The shell of a high-rise building in Bangkok collapsed, as shown in videos circulating online.

Thai Prime Minister Paetongtarn Shinawatra convened an emergency meeting during her visit to Phuket Island.

Earthquake felt in Vietnam, India, China, Bangladesh

The tremors were also felt in Vietnam’s capital Hanoi, as well as in parts of India, China and Bangladesh.

In China, tremors were reported in Yunnan province, where damage and injuries were confirmed.

In India’s Manipur state and Bangladesh’s capital Dhaka, the quake caused panic, but no damage was initially reported.

India has offered to help earthquake victims in Myanmar and Thailand.

“India stands ready to offer all possible assistance,” Modi wrote on X. He said he has asked “our authorities to be on standby.”

Asia is regularly affected by earthquakes, which sometimes kill thousands of people and cause devastating destruction.

An earthquake off the eastern coast of Japan in March 2011 claimed almost 16,000 lives and caused the accident at the Fukushima nuclear plant.

More recently, Afghanistan, Indonesia and Nepal have experienced disasters with thousands of deaths.

EU offers satellite help

Commenting on X, European Commission President Ursula von der Leyen said the scenes from Myanmar and Thailand are “heartbreaking.”

The European Union’s Copernicus satellites “are already helping first responders,” she wrote and added that the EU is “ready to provide more support.”

Copernicus is the EU’s space observation programme. It has an open source policy in line with international data sharing principles, its website states, and can provide detailed maps of affected areas.

GNA

PDC

The Kosmos Innovation Center (KIC) recently held the First Pitch of its 2025 AgriTech Challenge Pro from March 12th to 14th, 2025.

This significant milestone marks the initial stage of the competition as participating startups showcased their innovative business ideas aimed at transforming agriculture in Ghana and beyond.

The AgriTech Challenge Pro, a flagship program of KIC, is renowned for fostering entrepreneurial talent and driving innovation in agriculture.

During this round, startups pitched their business models to a panel of judges, presenting compelling solutions that address critical challenges within the agricultural sector.

16 academic institutions participating in the competition include: Kwame Nkrumah University of Science and Technology (KNUST), University of Development Studies (UDS), University of Ghana (UG), University of Cape Coast (UCC), Bolgatanga Technical University (BTU), Takoradi Technical University (TTU), Ho Technical University (HTU), Koforidua Technical University (KTU), SD Dombo University of Business &  Integrated Development Studies (UBIDS), and University of Energy and Natural Resource (UENR), Kwadaso Agricultural College (KAC), Ejura Agricultural College and Mechanisation Center ( EACMC), Ohawu Agricultural College (OAC), Damongo Agricultural College (DAC), CKT University of Technology and Applied Sciences (CKT-UTAS), Akenten Appiah-Menka University of Skills Training and Entrepreneurial Development (AAMSTED).

The 61 start-up ideas range from food innovation, nutrition and food security, climate technology, circular economies, climate action, as well as agric technology to add value from production, post-harvest, processing, marketing, and distribution.

The First Pitch served as a platform to evaluate the potential of these startups and their readiness to scale. Based on the judges’ assessments, selected teams will advance to the final pitch in May 2025. 44 startups were chosen at the end of the First pitch to make it to the Final Pitch event. At the final event, the competing teams will vie for prize money designed to propel their businesses forward and enhance their capacity to make a meaningful impact on the agricultural value chain.

This year’s cohort demonstrated creativity and commitment, offering a glimpse of the future of agribusiness and technology integration. The AgriTech Challenge Pro continues to solidify KIC’s role in empowering youth entrepreneurs and catalyzing sustainable growth in the agribusiness sector. The stage is now set for the May finale, where innovation and dedication will be celebrated, and the most promising ideas will receive the support needed to flourish.

Speaking about KIC’s commitment to youth empowerment, Benjamin Gyan- Kesse, Executive Director for KIC said: “At KIC, we are committed to transforming young entrepreneurs and their businesses by providing them with capacity building, mentorship and coaching. Every year, start-ups that are trained through the program continue to show innovative drive and resilience to provide solutions to improve the agricultural and agri-adjacent sectors”.

KIC’s AgriTech Challenge Pro is being organised in partnership with the Mastercard Foundation under the Initiative for Youth In Agricultural Transformation (IYAT) Program, which seeks to provide young people with employment and work opportunities through entrepreneurship within the agricultural sector.

Emmanuel Selby briefs Columbia University students during an ICPS factory tour

A delegation of MBA students from Columbia University recently visited Intelligent Card Production Systems (ICPS), the secure card manufacturing arm of Margins ID Group, to witness firsthand the cutting-edge advancements in digital identity and secure card production.

As a frontrunner in digital transformation, Margins ID Group provided the students with an in-depth look at the intricate processes and stringent security measures that define the industry.

For the students, the visit was more than an academic excursion, it was an immersive experience highlighting Ghana’s role in leveraging digital identity to enhance governance, financial inclusion, and national security.

ICPS, a subsidiary of Margins ID Group, plays a pivotal role in this transformation by producing high-security smart cards, including the Ghana Card, a cornerstone of the country’s digital ecosystem.

“We’ve heard about the impressive work being done here in Ghana, delivering high-security solutions and setting the pace for digitization across the African continent. Seeing firsthand how this facility integrates technology with governance is truly remarkable,” said Bruce Kogut, Ph.D., a professor at Columbia Business School who led the delegation.

Maria Hamwi, an MBA student on the trip, was particularly struck by ICPS’s efforts to reduce fraud and enhance identity verification.

“We have visited several companies, but what’s happening here at ICPS is different,” she noted.

“It’s not just about business; it’s about national transformation. Your innovative story must be heard by the world.”

During their tour, the students explored Margins ID Group’s involvement in Ghana’s National ID Project through its subsidiaries.

MIDSA, the Group’s technology arm, provides the advanced software solutions and biometric verification technology that power the Ghana Card, while IMS, under a Public-Private Partnership (PPP) agreement with the National Identification Authority (NIA), conceptualized, designed, and built the country’s National ID infrastructure.

Emmanuel Selby, Executive Director of Technology at Margins ID Group, reaffirmed the company’s commitment to shaping Africa’s digital future.

“Margins ID Group is dedicated to collaborating with industry leaders to develop secure, scalable solutions for Ghanaians,” Selby stated.

“As the identity landscape evolves, we remain focused on leveraging technology to drive efficiency in governance and service delivery, not just for Ghana, but for Africa and the world.”

Winner of the Queen of Ghana Beauty pageant, Nana Araba Sekum, is set to represent the country at the Queen of the World Pageant in the United States of America.

The international event celebrating beauty, culture, and social causes is slated for May in the USA.

The event will take place from May 6 to 10, 2025, at Peter Norton Symphony Space Theater in New York, New York, USA. Contestants from over fifty countries will participate.

Araba, with the opportunity, will not just represent herself but every woman in Ghana who dares to dream.

The second-year student of the University of Education, Winneba, believes that her journey is more than a crown; it is about inspiring change and empowering young girls back home and the world at large.

As she returns to Ghana, Araba aims to focus on her mission, launching a nationwide campaign under the Queen of Ghana pageant umbrella to raise awareness about the importance of educating girls to enable them to take up leadership roles in governance and wherever they find themselves.

Mrs. Araba Biesema Crentsil, the founder, CEO, and pageant coach of Queen of Ghana, aims to train, equip, and empower more ladies to become symbols of hope and resilience, reminding everyone that true beauty lies not just in appearances but in the heart’s capacity to inspire and uplift others.

According to her, the story would continue to resonate, proving that one can create a ripple effect of positive change in the world with determination and passion.

“We are calling on all stakeholders to throw their support behind Ghana as we compete for the global 2025 crown in New York this May 2025. We believe Ghana will win the title and bring the crown home,” she said.

She added that “I, as founder and CEO, will provide all the necessary emotional and physical needs of the title holder to enable her to be in the best of spirits to win this competition. We are going with a team of experts who will aid our title holder to make a significant impact on the international stage to put Ghana on the map.”

Nana Araba Sekum is an enthusiastic advocate for education and women’s empowerment.

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