Ghana cedi selling at GH¢10.25 to $1

Ghana’s local currency, the cedi, continues to appreciate on the interbank market against major trading currencies, particularly the US dollar.

In its daily update, the Bank of Ghana reported that the cedi is trading at a buying price of GH¢10.24 and a selling price of GH¢10.25 to the dollar.

The British pound is being bought at GH¢13.88 and sold at GH¢13.89, while the euro is trading at a buying price of GH¢11.76 and a selling price of GH¢11.77.

Checks by GhanaWeb Business on June 12, 2025, at 8:20 AM indicate that the cedi is trading at GH¢11.95 to the dollar at some forex bureaus across the country. The pound is selling at GH¢16.00, while the euro is trading at GH¢14.00 on the retail market.

Meanwhile, the Bank of Ghana has announced that Ghana is expected to receive $360 million from the International Monetary Fund (IMF) in June 2025, a move expected to further stabilise the cedi.

SP

#TrendingGH: Drivers react to government’s new GH¢1 energy levy on petroleum products

Reindorf Twumasi Ankrah is the CEO of GIADEC

Ghana is set to become a global hub for aluminium production as the state-owned Ghana Integrated Aluminium Development Corporation (GIADEC) announces a strategic breakthrough in the country’s long-awaited industrialisation agenda.

According to the Chief Executive Officer of the Corporation, Reindorf Twumasi Ankrah, six mining leases have been approved for GIADEC, enabling the company to spearhead the development of Ghana’s Integrated Aluminium Industry (IAI).

In a statement sighted by GhanaWeb Business, Reindorf Twumasi Ankrah said the leases mark a turning point for Ghana’s aluminium ambitions, as the country aims to unlock an estimated 920 million tonnes of bauxite.

“This is more than a mining operation, it is an industrial transformation agenda. With these leases, we are unlocking the full potential of Ghana’s estimated 920 million tonnes of bauxite. This is the foundation of a fully integrated aluminium value chain that begins in the soil and ends with high-grade aluminium products for global export,” he stated.

The GIADEC CEO noted that the development aligns with the broader economic strategy of the government under President John Dramani Mahama’s “Reset Agenda,” which prioritises value addition, industrialisation, and sustainable resource use.

“For decades, we exported raw materials while importing finished goods. That model is broken. What we are doing now is taking control of our narrative, processing our bauxite into alumina and aluminium, and developing a vibrant downstream sector,” Twumasi Ankrah added.

With investor confidence surging, GIADEC has already signed a Memorandum of Understanding (MoU) with Emirates Global Aluminium (EGA), one of the world’s largest aluminium producers. The partnership will explore the development of new bauxite mines, critical rail infrastructure, and the expansion of the Takoradi Port to support export logistics.

“This isn’t just about mining. We are building the ecosystem; rail, port, energy, smelting and refining to ensure a truly integrated industry. We are creating value chains, not just value extraction,” Ankrah explained.

In addition, GIADEC is in advanced talks with U.S.-based Madison Alumina to establish a state-of-the-art alumina refinery and aluminium smelter in Ghana. The project will include green innovations such as processing red mud waste into cement and caustic soda, and generating up to 5,000MW of solar and renewable energy.

“Our partners are not just bringing capital, they’re bringing innovation, sustainability, and a commitment to high-value production that benefits Ghanaians. We estimate over 20,000 direct and indirect jobs will be created through this integrated approach,” Ankrah said.

To anchor Ghana’s aluminium future, GIADEC is also working to modernise the Volta Aluminium Company (VALCO). According to the CEO, the goal is to increase the smelter’s production capacity from 50,000 metric tonnes to 300,000 metric tonnes annually.

“We are not discarding legacy assets, we’re transforming them. VALCO’s retrofit will make it a commercially viable, environmentally friendly smelter capable of competing globally,” he mentioned.

To attract further investment, GIADEC is offering three flexible and innovative partnership models tailored to meet the needs of global stakeholders.

The first is a Credit-Resource Swap, which allows investors to provide critical infrastructure or financing in exchange for future supplies of bauxite or alumina.

The second is Long-Term Off-Take Agreements, offering investors supply certainty through guaranteed purchase contracts. Lastly, Joint Venture Operations invite equity participation, enabling partners to share in both the risks and rewards across the entire aluminium value chain, from mining and refining to smelting and infrastructure development.

“These options provide flexibility for global investors while ensuring Ghana retains strategic control and value from its resources,” Ankrah concluded.

SP/MA

#TrendingGH: Drivers react to government’s new GH¢1 energy levy on petroleum products

Reindorf Twumasi Ankrah is the CEO of GIADEC

Ghana is set to become a global hub for aluminium production as the state-owned Ghana Integrated Aluminium Development Corporation (GIADEC) announces a strategic breakthrough in the country’s long-awaited industrialisation agenda.

According to the Chief Executive Officer of the Corporation, Reindorf Twumasi Ankrah, six mining leases have been approved for GIADEC, enabling the company to spearhead the development of Ghana’s Integrated Aluminium Industry (IAI).

In a statement sighted by GhanaWeb Business, Reindorf Twumasi Ankrah said the leases mark a turning point for Ghana’s aluminium ambitions, as the country aims to unlock an estimated 920 million tonnes of bauxite.

“This is more than a mining operation, it is an industrial transformation agenda. With these leases, we are unlocking the full potential of Ghana’s estimated 920 million tonnes of bauxite. This is the foundation of a fully integrated aluminium value chain that begins in the soil and ends with high-grade aluminium products for global export,” he stated.

The GIADEC CEO noted that the development aligns with the broader economic strategy of the government under President John Dramani Mahama’s “Reset Agenda,” which prioritises value addition, industrialisation, and sustainable resource use.

“For decades, we exported raw materials while importing finished goods. That model is broken. What we are doing now is taking control of our narrative, processing our bauxite into alumina and aluminium, and developing a vibrant downstream sector,” Twumasi Ankrah added.

With investor confidence surging, GIADEC has already signed a Memorandum of Understanding (MoU) with Emirates Global Aluminium (EGA), one of the world’s largest aluminium producers. The partnership will explore the development of new bauxite mines, critical rail infrastructure, and the expansion of the Takoradi Port to support export logistics.

“This isn’t just about mining. We are building the ecosystem; rail, port, energy, smelting and refining to ensure a truly integrated industry. We are creating value chains, not just value extraction,” Ankrah explained.

In addition, GIADEC is in advanced talks with U.S.-based Madison Alumina to establish a state-of-the-art alumina refinery and aluminium smelter in Ghana. The project will include green innovations such as processing red mud waste into cement and caustic soda, and generating up to 5,000MW of solar and renewable energy.

“Our partners are not just bringing capital, they’re bringing innovation, sustainability, and a commitment to high-value production that benefits Ghanaians. We estimate over 20,000 direct and indirect jobs will be created through this integrated approach,” Ankrah said.

To anchor Ghana’s aluminium future, GIADEC is also working to modernise the Volta Aluminium Company (VALCO). According to the CEO, the goal is to increase the smelter’s production capacity from 50,000 metric tonnes to 300,000 metric tonnes annually.

“We are not discarding legacy assets, we’re transforming them. VALCO’s retrofit will make it a commercially viable, environmentally friendly smelter capable of competing globally,” he mentioned.

To attract further investment, GIADEC is offering three flexible and innovative partnership models tailored to meet the needs of global stakeholders.

The first is a Credit-Resource Swap, which allows investors to provide critical infrastructure or financing in exchange for future supplies of bauxite or alumina.

The second is Long-Term Off-Take Agreements, offering investors supply certainty through guaranteed purchase contracts. Lastly, Joint Venture Operations invite equity participation, enabling partners to share in both the risks and rewards across the entire aluminium value chain, from mining and refining to smelting and infrastructure development.

“These options provide flexibility for global investors while ensuring Ghana retains strategic control and value from its resources,” Ankrah concluded.

SP/MA

#TrendingGH: Drivers react to government’s new GH¢1 energy levy on petroleum products

The Ghana Water Accra West Ladies’ Association on Tuesday donated essential supplies to the Chosen Children’s Centre, an orphanage dedicated to caring for abandoned and vulnera­ble children.

The items included diapers, wipes, baby food, toiletries, detergents, bottles of water, rice, cooking oil, sugar, and clothing for children of various ages.”

Presenting the items, the Chair­person of the Ghana Water Accra West Ladies’ Association, Mrs Patience Mensma Acquah, said the kind gesture formed part of the association’s annual outreach initiative.

She noted that it also forms part of the association’s ongoing commitment to giving back to the community and supporting the most vulnerable.

“We noticed they needed a lot of items for infants as young as two months old, so we brought di­apers, wipes, baby food, toiletries, detergents, and other necessities such as rice, cooking oil, sugar, and clothing for children of various ages,” Mrs Acquah said.

The Manager of Chosen Chil­dren’s Centre, Mr Eyison Walid, expressed heartfelt appreciation to the Ghana Water Accra West Ladies’ Association for the kind gesture, adding that it would go a long way to help the children.

He said the centre had 60 children, including 10 infants, adding that the support came at a critical time.

“Things are hard, and you’ve given us so much, will help us in the long run, especially with the babies and abandoned children sent to us by social welfare,” he noted.

 BY CECILIA YADA LAGBA

The global economy is facing significant challenges with direct impacts on households and businesses across Africa. A new analysis from the World Bank warns that global economic growth is on track to experience its weakest decade since the 1960s. The report highlights rising trade tensions and new tariffs (trade wars) as major burdens on economies worldwide.

On Tuesday, the World Bank downgraded its projection for global GDP growth, lowering its forecast to 2.3% for this year, down from 2.7% in January. This places the global economy on course for its slowest growth in 17 years—excluding the recession years of 2009 and 2020, when global economic growth declined by 1.3% and 2.9%, respectively.

The multilateral institution cautioned that this “turmoil” has led to lowered growth forecasts for nearly 70% of the world’s economies, across all regions and income levels.

“The sharp increase in tariffs and the ensuing uncertainty are contributing to a broad-based growth slowdown and deteriorating prospects in most of the world’s economies,” the World Bank stated.

The Economic Impact

This economic slowdown affects more than just figures—it impacts lives. Businesses must now manage unpredictable costs and disrupted supply chains. Governments are facing tougher decisions in managing national finances. For families, slower economic growth typically means fewer job opportunities and tighter household budgets, as prices rise due to increased import costs.

The World Bank also linked the expected slowdown in developing economies to rising government debt levels.

On Tuesday, Fitch Ratings echoed similar concerns, revising its outlook for global government bonds from “neutral” to “deteriorating.” The credit agency cited a “significant adverse global economic shock” caused by tariff hikes and policy uncertainty. Downgrades of this nature lead to higher borrowing costs, further straining public services and delaying development initiatives vital to economic progress.

Understanding Tariff Policies

The tariffs imposed primarily under the Trump administration were aimed at protecting American industries and addressing perceived unfair trade practices by other countries. However, institutions like the World Bank warn that such policies may have broad, negative global consequences.

While proponents argue tariffs help correct trade imbalances, critics contend that they often raise consumer prices and reduce competitiveness for export-driven businesses.

Africa’s Vulnerability and Resilience

African economies are especially vulnerable to these global headwinds. Most African countries rely heavily on the export of raw materials. When China—the world’s second-largest economy—slows down due to tariffs, demand for these commodities falls. This directly impacts export earnings, national revenues, and, ultimately, livelihoods.

According to the Center for Strategic and International Studies (CSIS), Africa could lose approximately $75.26 billion annually in reduced demand stemming from US-China trade tensions.

Disruptions in global supply chains have also taken a toll. Many African businesses depend on imported raw materials and equipment. Higher tariffs on these goods increase production costs, which are either passed on to consumers or absorbed by businesses, reducing profitability.

Additionally, economic uncertainty deters foreign direct investment (FDI), threatening critical infrastructure projects and job creation. African GDP growth could decline by 0.4% this year and 0.6% next year.

There is also growing concern that Africa could become a battleground in a global “economic proxy war,” particularly around strategic minerals. African countries must urgently escape the “value chain position trap”—the cycle of exporting raw materials while importing expensive, finished goods. Enhancing local processing and manufacturing is vital for boosting competitiveness.

Still, Africa has a key opportunity for resilience. The African Continental Free Trade Area (AfCFTA) offers a strategic shield against external shocks. Though intra-African trade accounted for only 14.9% of total African trade in 2023, AfCFTA aims to dramatically increase this figure. By strengthening internal markets, Africa can reduce dependence on external partners.

Ghana’s Economic Tightrope

Ghana, heavily reliant on commodity exports like cocoa, gold, and oil, is especially exposed to global trade disruptions. Volatile commodity prices can severely impact export revenues. For instance, reduced global demand for gold translates into lower income for Ghanaian miners and decreased national earnings.

This could also dampen investor confidence, delaying infrastructure development and job creation.

Ghanaian leaders are aware of the country’s interconnectedness with the global economy. Speaking at the 73rd United Nations General Assembly in 2018, former President Nana Akufo-Addo said:

“A trade war is being stoked between the two largest economies of the world. The consequences will affect those who have had no say, including small countries like Ghana… These events provide proof, if some were needed, that ours is an interdependent world.”

Ghana has faced severe economic headwinds in recent years. Soaring debt levels forced it out of international credit markets. Although inflation remains a concern, there are signs of recovery: inflation dropped from a record high of 54% in December 2022 to 23% in December 2023. However, the Cedi experienced one of the worst depreciations against the US dollar.

The country is currently implementing an International Monetary Fund (IMF)-supported programme aimed at restoring macroeconomic stability and achieving debt sustainability. This includes fiscal consolidation and structural reforms to improve public financial management.

Yet, a volatile global trade environment complicates these domestic efforts. Each policy shift abroad reverberates at home, affecting the daily lives of Ghanaians striving for opportunity and dignity.

As the World Bank’s Deputy Chief Economist, Ayhan Kose, noted:

“The trade engine may start running again—but at a slower pace.”

The stakes are high, not just for Ghana but for the entire continent. Strategic adaptation is essential. Diversifying economies, reducing raw material dependency, and expanding intra-African trade through frameworks like AfCFTA are no longer optional—they are necessary steps toward a more stable and resilient future.

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.

The informal sector in Ghana remains a cornerstone of the national economy, employing millions and contributing significantly to GDP.

Yet, despite its vast reach and resilience, it often operates on the margins of formal policy, lacking structured support, equitable taxation, and visibility in public finance discourse.

As part of efforts to study and harness the strengths of this sphere for the good of the Ghanaian economy, BudgIT Ghana held a data validation workshop to discuss the findings of a research study it has been undertaking as part of a project collaboration with the International Budget Partnership (IBP) and the Society for Women in Taxation (SWIT) Ghana on tax compliance in Ghana’s informal sector.

This validation workshop is the final in a series of previous stakeholder meetings to discuss research instruments, methods, and realities on informal sector tax compliance. The meeting stood out as a milestone event in Ghana’s civic landscape, underscoring BudgIt Ghana’s commitment to inclusive policy-making and evidence-based advocacy.

Held on Friday, May 29, 2025, at the Sunlodge Hotel in Tesano, Accra, the workshop convened over thirty diverse voices from senior officials of the Ghana Revenue Authority, the Local Government Service, Metropolitan, Municipal and District Assemblies (MMDAs), civil society, academia, development partners, and community development advocates.

As lead consultant Professor Godfred Owusu methodically presented the research findings, the room collectively confronted the longstanding barriers preventing Ghana’s informal economy from fully integrating into the national fiscal framework.

The opening remarks by Country Manager, Jennifer A. Moffatt set the tone for rigorous scrutiny with collaborative civic problem-solving. Participants were invited not only to validate the data on tax knowledge gaps, gendered enforcement practices, and systemic mistrust but also to unpack the underlying social dynamics that shape compliance behaviour.

We believe that informal workers are not statistics to be rounded up for only enforcement fora, but citizens whose livelihoods and dignity hinge on fair, transparent treatment, therefore policy solutions must be grounded in lived experience, or they risk deepening existing inequities.

Another key moment in the discussion of the findings was the issue of effective tax education. Attendees acknowledged that widespread confusion about what constitutes “tax” versus “local levy” has created a culture of reactive compliance, where traders pay only under compulsion rather than from genuine understanding. Equally troubling was the finding that women who represent the majority of informal sector operators face disproportionate scrutiny and intimidation; a clear signal that any reform drive must embed gender sensitivity at its core. Wealthier, educated operators emerged as more likely to navigate the system successfully, underscoring the need to bridge information asymmetries through sustained, community-driven education initiatives.

Led by our project partner, Adelaide Nunoo, Programs Lead for IBP Ghana, the validation phase wound into multi-stakeholder dialogue, and the focus shifted to what it takes to move from research to reform. Experts and practitioners alike voiced the necessity of streamlining registration processes and leveraging Ghana’s widespread mobile money infrastructure to simplify payment channels. There was considerable consensus around the idea of deploying mobile tax booths directly in market districts, thereby reducing travel time and bureaucratic hurdles. More than once, participants emphasised that visibility pertaining to public service delivery is vital; when traders can literally see the roads, clinics, or schools built with their contributions, trust in the revenue system deepens. The workshop created a platform for these insights to surface organically, ensuring that policy prescriptions would reflect the priorities and constraints of the very people they aim to serve.

Perhaps most striking was the consensus on institutional collaboration. Participants repeatedly highlighted the siloed nature of tax administration between national and local authorities, which not only breeds inefficiency but fuels perceptions of unfairness. By fostering genuine partnerships between the Ghana Revenue Authority, MMDAs, and informal economy associations, BudgIT Ghana believes that Ghana can begin to chart a path toward equitable revenue sharing and joint accountability. The notion that tax officers could be trained as community liaisons rather than enforcers resonated deeply, signaling a shift from punitive compliance to participatory governance.

In the weeks ahead, the validated findings and refined recommendations will be collated into an official comprehensive research report document that will be unveiled to the general public and all stakeholders. From recommendations on leveraging mobile payment mechanisms to coordinating gender-responsiveness training for tax officers, BudgIT Ghana is prepared to collaborate with the government and all relevant partners to drive tangible reforms in the sector. As an advocate for equitable, transparent governance, we believe that when citizens, government, and civil society engage as equals around shared evidence, the path to meaningful change becomes not only possible, but inevitable, and in the same regard, operate on the premise that research can fuel inclusive policymaking and move Ghana one step closer to a fairer, more accountable tax system that honours the dignity of every worker in the informal economy.

Davis Korboe, is the President of the Federation of Associations of Ghanaian Exporters (FAGE)

Davis Korboe, the President of the Federation of Associations of Ghanaian Exporters (FAGE), has asserted that Ghana is sitting on an “agro-ecological goldmine”, a wealth of fertile soils, diverse microclimates, and abundant rainfall that, if properly harnessed, can transform the country’s horticultural sector into a major engine of export-led growth.

Speaking at the opening of the Ghana Horticulture Expo 2025 at the Accra International Conference Center on June 11, 2025, Korboe said Ghana’s natural agricultural endowments and strategic geographic positioning offer a unique advantage in the global horticulture market.

However, he warned that low productivity levels, weak infrastructure, and post-harvest losses which account for more than 30% of produce, continue to hamper the sector’s full potential.

Themed “Innovate, Transform, Sustain: Driving Growth in Ghana’s Horticultural Sector,” the second edition of the Expo brought together government officials, captains of industry, agripreneurs, exporters, researchers, and development partners to explore new strategies for scaling up Ghana’s horticultural value chain.

Korboe noted that while Ghana boasts over 60% of its labor force engaged in agriculture, average yields for high-value crops such as pineapples, mangoes, and vegetables remain below international standards.

“We are not just here to sell fruits and vegetables,” he said. “We are here to build futures — jobs, industries, and competitive export systems.”

He described Ghana’s emerging 24-Hour Economy policy as a game-changing opportunity for the horticultural sector, suggesting that around-the-clock agricultural operations, from nighttime irrigation and agro-processing to 24/7 logistics and digital trade, could revolutionize output, reduce waste, and boost global competitiveness.

“A 24-Hour Agribusiness Economy will not only increase productivity but decongest operations, create quality jobs, and enhance our position in international markets.” Korboe pledged FAGE’s commitment to piloting and scaling such innovations in partnership with government and private sector stakeholders.

The Chief Executive Officer of the Ghana Export Promotion Authority (GEPA) announced a new Youth in Export Programme, aimed at engaging young people in export-led horticulture, particularly in underserved communities.

“The horticultural sector holds immense promise for us as a key driver of economic diversification, job creation, and foreign exchange earnings.

“The Ghana Export Promotion Authority is working in collaboration with the Federation of Associations of Ghanaian Exporters and other stakeholders to roll out the Youth in Export Programme, targeting young people in communities across the country.”

Chairperson of the Expo and Executive Chairman of Celltel Networks, Dr Prince Kofi Kludjeson, called for equity reforms to strengthen private sector participation in agriculture.

“We cannot transform Ghana’s economy if farmers remain disadvantaged in ownership and investment,” he said.

He also advocated for local grocery franchises and smart agriculture systems to meet domestic and international demands.

President John Dramani Mahama, outlined a comprehensive plan to revitalize the horticulture sector, beginning with the renewal of the Feed Ghana initiative, which will run from 2025 to 2028.

The programme includes targeted interventions such as the Yeridua (“We Are Planting”) Vegetable Development Project, Smart Agriculture and Farmer Support Centres, and Agribusiness Youth Clinics to support young agripreneurs with skills training, funding, and mentorship.

He emphasised the moral and economic urgency of the reforms, describing the struggles of farmers as not only technical challenges but national ethical concerns.

“Can a nation prosper if the very hands that feed it remain its most neglected?” he asked.

AM/KA

President John Mahama [2nd – L] cutting the sod at the opening of the Ghana Horticulture Expo

President John Dramani Mahama has stated that Ghana’s future economic transformation hinges on building a “productive economy,” with horticulture playing a central role in that vision.

Speaking at the official opening of the Ghana Horticulture Expo 2025 at the Accra International Conference Centre on June 11, 2025, President Mahama called for a paradigm shift in the agricultural sector, urging bold investments, innovative thinking, and strategic partnerships.

“Our goal is not just food security, but economic security through agriculture… Seek ye first the productive economy. Let us grow Ghana one fruit, one field, and one future at a time,” he said.

The President outlined a comprehensive plan to revitalize the horticulture sector, beginning with the renewal of the Feed Ghana initiative, which will run from 2025 to 2028.

The programme includes targeted interventions such as the Yeridua (“We Are Planting”) Vegetable Development Project, Smart Agriculture and Farmer Support Centres, and Agribusiness Youth Clinics to support young agripreneurs with skills training, funding, and mentorship.

He emphasised the moral and economic urgency of the reforms, describing the struggles of farmers as not only technical challenges but national ethical concerns.

“Can a nation prosper if the very hands that feed it remain its most neglected?” he asked.

The Expo, themed “Innovate, Transform, Sustain: Driving Growth in Ghana’s Horticultural Sector,” brought together key stakeholders from across Africa, including government officials, exporters, financial institutions, and agribusiness leaders.

The event aimed to reposition horticulture as a viable engine of economic diversification, job creation, and export growth.

Davis Korboe, President of the Federation of Associations of Ghanaian Exporters (FAGE), echoed the President’s call for action, describing the Expo as “a grand orchestra of ideas and enterprise.”

He pointed to the untapped potential of Ghana’s agro-ecological resources and challenged stakeholders to act boldly.

“Post-harvest losses still exceed 30%, and yields for crops like mangoes, pineapples, and coconuts remain below global standards,” Korboe said. “Yet the global horticulture market is projected to reach over $320 billion by 2030. Ghana must claim its share.”

He also highlighted the transformative potential of the 24-Hour Economy policy, describing it as a game-changer for horticulture.

“Imagine cold storage running through the night, agro-processing plants operating in shifts, and exports moving without delay. This is not a fantasy; it’s a vision within reach,” he noted.

Korboe criticized rigid banking practices, calling on financial institutions to support innovation over collateral.

“Banking must go beyond vaults and spreadsheets. Let’s bank on ideas, nurture businesses, and grow together,” he stated.

Chairperson of the Expo and Executive Chairman of Celltel Networks, Dr. Prince Kofi Kludjeson, called for equity reforms to strengthen private sector participation in agriculture.

“We cannot transform Ghana’s economy if farmers remain disadvantaged in ownership and investment,” he said.

He also advocated for local grocery franchises and smart agriculture systems to meet both domestic and international demands.

The Chief Executive Officer of the Ghana Export Promotion Authority (GEPA) announced a new Youth in Export Programme, aimed at engaging young people in export-led horticulture, particularly in underserved communities.

“The horticultural sector holds immense promise for us as a key driver of economic diversification, job creation, and foreign exchange earnings.

“The Ghana Export Promotion Authority is working in collaboration with the Federation of Associations of Ghanaian Exporters and other stakeholders to roll out the Youth in Export Programme, targeting young people in communities across the country,” the CEO noted.

Kwaku Boateng, Vice President of the Coconut Federation of Ghana, called for collaboration between the government and stakeholders to drive the developmental agenda in the agricultural sector.

AM/KA

Ghana has achieved significant progress in strengthening its economic partnership with China, securing a 0% tariff on all its exports to the Asian economic powerhouse.

This breakthrough was announced by Minister of Foreign Affairs Samuel Okudzeto Ablakwa on X (formerly Twitter) today.

The new tariff regime, which extends to 100% of goods originating from Ghana, is poised to dramatically boost trade volumes, stimulate job creation, and foster a new generation of Ghanaian entrepreneurs.

This development is particularly impactful given that China already stands as Ghana’s number one trading partner, with bilateral trade volumes exceeding US$11 billion last year alone.

This new tariff elimination opens up vast opportunities for Ghanaian producers to access the world’s second-largest consumer market.

Yesterday, I held productive and impactful talks with the distinguished Foreign Minister of China, His Excellency Wang Yi.

China has offered 0% tariff on all exports from Ghana.

China is Ghana’s number one trading partner with last year’s trade volume exceeding US$11billion.… pic.twitter.com/IthAG2PbOx

— Sam Okudzeto Ablakwa (@S_OkudzetoAblak) June 12, 2025

Beyond trade facilitation, the MP for North Tongu revealed that bilateral discussions focused intensely on new industrial projects aligned with President Mahama’s ambitious vision for national transformation.

A key agenda item was the exploitation of Ghana’s vast bauxite reserves, estimated at over 900 million tonnes, for the development of an integrated aluminium industry.

This strategic initiative is envisioned to be supported by modern rail infrastructure, ensuring efficient transportation of raw materials and finished products, moving Ghana beyond raw material export to value-added industrialisation.

Further cementing this strategic partnership, Ghana and China have agreed to collaborate on establishing an electric car manufacturing plant in Ghana.

This futuristic project is directly anchored on Ghana’s recently confirmed strategic lithium deposits, with initial estimates suggesting millions of tonnes of lithium oxide.

This move positions Ghana at the forefront of the global green energy transition, aiming to leverage its mineral wealth to build a sustainable and high-tech manufacturing base.

To formalise these burgeoning collaborations, Mr Ablakwa confirmed that Ghana and China will soon sign a special Economic Partnership Agreement.

This comprehensive agreement is set to concretise their mutually beneficial partnership across various sectors.

Mr Ablakwa underscored the Mahama administration’s steadfast commitment to leveraging international diplomacy for national development.

“President Mahama’s administration is firmly committed to leveraging diplomacy for the transformation of our dear country,” he stated, emphasising that these landmark agreements signify a strategic pivot towards industrialisation and sustained economic growth through international collaboration.

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.

The suspected cocoa smugglers

The Central Regional Police Command have arrested two individuals for attempting to smuggle 250 bags of cocoa beans out of the country.

The arrests occurred during a targeted, intelligence-driven operation in Elmina last Sunday, June 8, 2025.

According to a police statement, the operation was launched following a tip-off received two weeks earlier about a syndicate involved in smuggling cocoa beans and illicit drugs from Elmina to neighbouring countries.

The statement said at about 1100 hours on Sunday, June 8, the police intercepted a Hyundai Mighty truck with registration number CR 726-25, loaded with 250 bags of cocoa beans, driven by Andy Kwofie, one of the suspects.

When questioned, Kwofie named Francis Armah as the intended recipient, who allegedly would be transporting the cocoa by sea to other countries.

According to the police, Armah was arrested later that evening and the truck impounded at the Regional Police Headquarters in Cape Coast.

Both suspects are in custody and helping with investigations.

The Minister of Transport, Joseph Bukari Nikpe, has appealed to foreign airlines operating in the country’s airspace to showcase newspapers from the stables of the Graphic Communications Group Ltd on board their flights.

He said the deliberate placement of news and entertainment from the state-owned media in flights would help project brand Ghana and its culture to the rest of the world.

The minister also urged the airlines to use the services of local flight catering companies to promote Ghanaian cuisines.

He was speaking at a breakfast meeting with stakeholders in the aviation industry in Accra yesterday. 

Meeting

The meeting was an initiative of the Ghana Civil Aviation Authority (GCAA) to engage stakeholders in a meaningful dialogue where they would share key updates and strengthen collaboration.

The event provided a platform for the stakeholders to contribute to the government’s agenda of positioning Ghana as a leading aviation hub in the sub-region.

Participants included officials of GCAA, the Ghana Airports Company, the Accident Investigation Bureau, airlines and service providers who reaffirmed their collective commitment to uphold excellence, innovation and safety standards in Ghana’s civil aviation sector.

Reduction of fares

Mr Nikpe further implored the airlines to reduce their fares by 15 per cent in response to the appreciation of the cedi against all major foreign currencies in the country.

“We are all aware of the gains of the cedi in recent times. Indeed, the cedi has appreciated against all the major currencies and we anticipate that it will trickle down to service delivery and cost of doing business.

“We are utilising the breakfast meeting platform to urge them to follow the example of road transport operators by considering a 15 per cent reduction in their prices,” he added.

Mr Nikpe also said that the government was in the process of reviving the national airline, for which a 10-member task force had been inaugurated.

He said Terminal Two of the Kotoka International Airport (KIA) in Accra was also being refurbished to handle both domestic and international travellers.

Commitment

The acting Director-General of GCAA, Rev. Stephen Wilfred Arthur, said the authority would continue to uphold its core mandate as a regulator committed to safety, security and operational excellence.

“I am proud to report that Ghana remains among the leading states in Africa in terms of effective implementation of the International Civil Aviation Organisation (ICAO) safety, security, environmental and facilitation standards.

“Our performance under the Universal Safety Oversight Audit Programme (USOAP) and Universal Security Audit Programme (USAP) over the years is a direct result of our collective vigilance and professionalism,” he said.

Rev. Arthur also said that plans were underway to construct a modern air traffic control centre to boost radar surveillance, communication efficiency and safety protocols.

The Ghana Tertiary Education Commission (GTEC) has banned individuals from flaunting honorary doctorate or professorship titles in public.

A statement signed by Augustine Ocloo, the GTEC acting deputy director-general, said the commission would begin naming, shaming, and taking legal action against anyone, especially politicians, business people, and religious leaders who disobey the directive.

Ocloo, who described the practice as “unethical and misleading”, said the act is tarnishing Ghana’s higher education system.

He also noted that the “rampant and fraudulent” use of honorary titles is devaluing real academic achievements like PhDs and professorship titles earned through rigorous research and peer recognition.

“This notice goes especially to politicians, businessmen and businesswomen, men and women of God, and any other category of persons to desist from officially using the honorary doctorate and professorship titles in their everyday life,” the statement reads.

Doctorates and professorships are advanced academic attainment obtained by an individual in any discipline in a university.

The warning comes amid growing concern over “degree mills”—unaccredited schools offering bogus honorary degrees in exchange for money.

These titles are frequently used to boost personal prestige, despite lacking any genuine academic merit.

Ghana has been ranked 8^th among Africa’s top 10 manufacturing countries, according to a report by The African Exponent, an analytical business information source for entrepreneurs and potential investors in Africa.

The report stated that Ghana’s long-term focus on value-added manufacturing in agriculture and cocoa has transformed its industrial landscape.

Again, the “One District One Factory” initiative has fostered Small and Medium Enterprises (SME) growth, while established firms like Kasapreko and Fan Milk extend Ghana’s manufacturing reach internationally. 

According to the report, within the last decade, a few countries have stood out for hosting the largest manufacturing companies in Africa, both in scale and influence. 

South Africa came 1^st followed by Egypt and Nigeria in 2^nd and 3^rd place, respectively.

Morocco (4^th), Kenya (5^th), Algeria (6^th), Ethiopia (7^th), Tunisia (9^th), and Zambia (10^th) followed suit.

The report stated that South Africa is Africa’s most industrialized nation.

Its advanced infrastructure, diversified industrial base, and global partnerships, especially in the automotive and chemical sectors, make it the continent’s undisputed manufacturing giant in 2025. The leading sectors are Automotive, Steel, Chemicals, and Food Processing.

Similarly, the report revealed that Egypt’s manufacturing ecosystem thrives on exports to Europe and the Middle East.

With a strong presence in chemicals, cement, and pharma, Egypt has positioned itself as a continental manufacturing leader supported by industrial reforms. The country is known for the production of Cement, Textiles, Pharmaceuticals, and Petrochemicals.

Also, the report said Nigeria is home to some of Africa’s largest industrial conglomerates. The Dangote Refinery project and BUA Group’s rapid expansion illustrate Nigeria’s manufacturing ambitions, buoyed by a large domestic market and policy reforms.

In addition, the top manufacturing sectors in the country include Cement, Consumer Goods, Food and Beverages, and Oil Refining, handled by leading manufacturers like Dangote Group, BUA Group, Nestlé Nigeria, and Unilever Nigeria.

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.

Minister for Fisheries and Aquaculture, Hon. Emelia Arthur, has reaffirmed the country’s unwavering commitment to the global goal of protecting 30% of the world’s oceans by 2030.

She delivered these remarks at the 30×30 Ocean Reception hosted by Oceana, one of the world’s leading ocean conservation organizations, on the margins of the 3rd United Nations Ocean Conference in Nice, France.

The reception brought together global leaders, policy makers, civil society, and development partners to assess progress and galvanize action toward the 30×30 target, an ambitious global conservation milestone.

In her address, Hon. Arthur emphasized that for Ghana, the 30×30 agenda goes beyond conservation and is a national imperative grounded in the need to sustain livelihoods, enhance food security, and preserve cultural heritage.

“As a coastal nation, the ocean sustains the livelihoods of millions of our people. Achieving 30×30 is not just a conservation goal—it is a national imperative,” she stated.

Hon. Arthur highlighted the steps Ghana has taken since pledging to expand its Marine Protected Area (MPA) coverage at the 2024 Our Ocean Conference in Greece.

The country now returns to the global stage not only with renewed resolve but with a concrete plan of action to implement that pledge.

Central to Ghana’s strategy is the development of a National Marine Protection Strategy, a science-based and inclusive framework to guide the establishment of MPAs, Closed Areas, and other effective conservation measures.

The strategy is being developed through broad consultations with fishing communities, traditional authorities, scientists, and civil society organizations to ensure that marine protection aligns with both ecological priorities and human needs.

Ghana has already identified potential MPA sites, including Cape Three Points, and is employing marine spatial planning tools to assess their ecological and socio-economic significance.

By 2026, the government aims to formally designate at least two MPAs, with a long-term vision of scaling up toward a nationally defined 30×30 target.

“Our approach is ambitious but grounded,” Hon. Arthur noted. “It combines the best available science with traditional knowledge and the lived experience of our coastal communities.”

She also emphasized Ghana’s commitment to regional and international collaboration, announcing that the country is co-leading a West African ministerial dialogue at the conference to promote transparency, sustainability, and shared stewardship of the region’s marine resources.

Hon. Arthur concluded by calling on development partners and the global community to support countries like Ghana through sustained financing, technical assistance, and capacity-building, so that political ambition can be translated into tangible and lasting impact.

“Ghana stands ready to lead, to act, and to collaborate—because the future of our ocean depends on what we do together, now,” she affirmed.

Ghana’s active participation in the 3rd UN Ocean Conference and its leadership on the 30×30 agenda underscore the nation’s growing role in shaping global ocean governance and marine biodiversity protection.

President John Dramani Mahama has called for the reinstatement and full participation of Parents Teachers Association (PTAs) in the management of the nation’s first and second cycle institutions.

He said the trend everywhere in the world was to give communities a say in how their schools were being run.

He noted that he felt very scandalized when PTAs were virtually shoved aside under the previous administration and not allowed to be a part of the running of the nation’s schools, especially at the secondary level.

“And so I believe that PTA participation must be fully restored so that they work with teachers and the administration of the schools to make sure that the schools are run properly and that our children are getting a good outcome in terms of teaching and learning,” President Mahama stated when he received a delegation of the Ghana National Association of Teachers (GNAT) led by the Secretary-General Mr Thomas Tanko Musah at the Presidency in Accra.

The delegation was at the Presidency to congratulate President Mahama on his resounding victory in the December 2024 general election.

President Mahama said the government would continue to work closely with tthe GNAT and other teacher unions to make sure that they were able to improve the conditions of service of teachers, so that teachers were treated with respect.

He said teachers are the ones who create the foundation that makes them who they will become in the future.

President Mahama reiterated that the government had passed a directive that every school that was being built at the basic level must come with accompanying accommodation for teachers.

He said instead of just building a sixth classroom block, there must be teachers’ quarters attached to the classroom block, so that the teachers teaching there could have accommodation.

Touching on housing for Teachers, President Mahama said the government wanted to collaborate with the Teachers Fund, so that the governments could also make a counterpart funding and add it to what the teachers had and then they could have their members apply for housing.

He said the government would sit with GNAT and make a design for low-cost houses for teachers.

“So, if we can make provision in the budget for a fund that will be a counterpart fund to the Teachers Fund, then teachers can apply to own their own homes. And so, we would go in and build it for them,” the President said.

He added: “And if they have a working life of, say, 15 to 20 years, it is possible to deduct, you know, monthly from their salaries, so that by the time they are ready to go on retirement, they own the house….We believe that they should be able to retire in dignity.”

He said the teachers’ housing project was something that the Minister of Education would take up with GNAT, so that they could design it, and then maybe from beginning of 2026, when they come for their big meeting.

Adding that they should be able to announce something big for teachers to celebrate at their next big meeting early next year.

With regards to pensions, President Mahama said the government and the Trades Union Congress (TUC) and Organised Labour would soon hold a meeting to look at the pension restructure.

Concerning the report of the Education Review Committee, the President said one of the highlights was the issue of decentralisation; so that they have better supervision at the district level and better-quality outcomes.

He said: ““Because I think that it’s easier for the education service to supervise and monitor schools at the district level than for us to try and do it from the centre.

“And so that’s one of the issues we’ll be taking up with you.”

Mr. Haruna Iddrisu, Education Minister, said it is evident that they could not achieve quality education without positioning the teacher and therefore the service of the teacher to the success of the learner was a sine qua non.

Mr. Thomas Tanko Musah, the Secretary-General of GNAT, congratulated President Mahama on his decisive victory in the December 7 general election.

He expressed the hope that God would assist President Mahama to deliver on all his electoral promises to Ghanaians, particularly the teachers.

He extended an invitation to the President to be the guest of honour at their national delegate congress, slated for the first week of January 2026, in Accra.

Mr. Kwame Pianim, an eminent economist, described the GNAT as one of the best labour unions in the country.

Source: GNA

Nigerian music sensation Ayra Starr secured a landmark victory at the 2025 BET Awards, clinching her first-ever award for Best International Act.

The “Rush” hitmaker triumphed at the prestigious ceremony held Monday night at the Peacock Arena in Los Angeles, overcoming a strong field that included fellow Nigerian artist Rema and South Africa’s Tyla.

This win marks a milestone for Starr, who had been nominated in previous editions of the awards but had yet to take home a trophy.

Despite her success in the Best International Act category, Ayra Starr was not as fortunate in her other two nominations. She lost out on the Best New Artist award to Leon Thomas and the Best Female R&B/Pop Artist award to SZA.

Another notable moment for Nigerian music saw Tems, despite receiving two nominations in the BET Her category, ultimately lose to Summer Walker’s “Heart of a Woman.”

The night’s biggest winner was American rapper Kendrick Lamar, who dominated the awards, taking home five trophies out of his ten nominations.

His wins included Album of the Year for ‘GNX,’ Best Male Hip Hop Artist, Video of the Year for ‘Not Like Us,’ Best Collaboration for ‘Luther’ with SZA, and Video Director of the Year alongside Dave Free for ‘Not Like Us.’

Full List of 2025 BET Awards Winners

• Album of the Year: GNX — Kendrick Lamar
• Best Male R&B/Pop Artist: Chris Brown
• Best Female R&B/Pop Artist: SZA
• Best Group: Future & Metro Boomin
• Best Collaboration: ‘Luther — Kendrick Lamar & SZA
• Best Male Hip Hop Artist: Kendrick Lamar
• Best Female Hip Hop Artist: Doechii
• Video of the Year: ‘Not Like Us’ – Kendrick Lamar
• Video Director of the Year: Dave Free & Kendrick Lamar
• Best New Artist: Leon Thomas
• Dr. Bobby Jones Best Gospel/Inspirational Award: ‘Rain Down on Me’ — GloRilla feat. Kirk Franklin, Maverick City Music
• Viewer’s Choice Award: ‘Residuals’ — Chris Brown
• BET Her: ‘Heart of a Woman’ — Summer Walker
• Best International Act: Ayra Starr
• Best New International Act: TXC (South Africa)
• Best Movie: Luther: Never Too Much
• Best Actor: Denzel Washington
• Best Actress: Cynthia Erivo
• Young Stars Award: Blue Ivy Carter
• Sportsman of the Year: Jalen Hurts
• Sportswoman of the Year Award: Angel Reese

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.