Accra, May 24, GNA-At the ID4Africa 2025 summit, Moses Kwesi Baiden Jr., CEO of Margins ID Group, delivered a commanding keynote on “Unlocking the Power of Digital Identity: The Ghana Card’s Impact on Healthcare,” spotlighting one of Africa’s most advanced and fully integrated national identity systems. 

 Margins ID Group, through its multiple subsidiaries, was one of only two African companies participating in the event, and the only one that has successfully implemented a national ID system of this scale and complexity. The Ghana Card stands out as a single, legally grounded biometric identity that covers every citizen and connects every essential service from birth to death.

Built on the law, the system is verifiable online and offline, and fully integrated across public and private institutions.
 
Mr. Baiden spoke directly to the room of policymakers, technologists, and identity authorities: “The Ghana Card isn’t just a piece of plastic. It’s a foundation for national development, and a digital backbone for everything from healthcare to governance to economic inclusion.”
 
He revealed that the Government of Ghana is already saving millions of dollars annually in healthcare by using the Ghana Card instead of separate NHIS cards.

In addition, the ability to accurately identify individuals at the point of service has significantly reduced fraudulent claims, contributing further to these savings.
 
Ghana is now building upon this solid foundation to usher in the era of e-health, e-pharmacy, and home-based care. What once sounded futuristic is now practical, secure, and in motion, driven by a Ghanaian innovation redefining national identity, physically and digitally, on a global scale.

The Ghana Card has already registered over 98% of the adult population, with active enrollment of children underway. With more than 200 million biometric verifications processed, it is not just one of the most successful identity projects in Africa, but one of the most advanced in the world.

 Moses Baiden emphasized that what sets Ghana apart is not just the scale, but the strategy. “A single, legally grounded identity system is the starting point for digital transformation,” he said. “Without it, you can’t build a reliable ecosystem for e-government, for e-commerce, for anything that defines the 4th and 5th industrial revolutions.”
 He also called on ID4Africa to ensure greater representation of African-developed solutions on the global stage. “Innovation should come from everywhere, not just the West. We have proven that African technology can lead, and it must be given the platform to do so.”
 
 Margins ID Group’s story is one of long-term vision, local expertise, and sustained investment.

What began as a Ghanaian printing company has evolved into a leader in secure identity systems, conceptualizing, designing, and building the Ghana Card through its subsidiaries Identity Management Systems (IMS) and Intelligent Card Production Systems (ICPS), in partnership with the National Identification Authority (NIA) of Ghana.
 The company’s public-private partnership with the National Identification Authority of Ghana has become a continental benchmark, proving that strategic collaboration can deliver measurable impact at scale.

It has not only digitized identity, it has transformed access to health, finance, and government services.

As Africa pushes toward SDG 16.9, universal legal identity by 2030, Ghana isn’t just participating in the race. It’s offering the blueprint. 

Mr. Baiden closed his keynote with a reminder that cut through the technical noise: “The success of any ID system goes beyond technology. It must serve society, deliver real value, and provide assured, lasting solutions.”
GNA
Christian Akorlie

play videoDr Johnson Pandit Asiama is the BoG Governor

Dr Johnson Asiama, Governor of the Bank of Ghana (BoG), says Ghana’s macroeconomic conditions are showing early signs of stabilisation, but significant risks remain.

He said that although the inflation outlook was improving, it remained vulnerable to several factors.

“These include potential second-round effects, constraints on food supply, especially from northern Ghana and the Sahel, and external price shocks, particularly given the volatility in global commodity markets,” he said.

Dr Asiama was addressing the 124th Monetary Policy Committee (MPC) Meetings in Accra.

Inflation declined to 21.2 per cent in April 2025 but remained above the central bank’s medium-term target of 8 ± 2 per cent and the upper tolerance band of 19 per cent.

He cited geopolitical tensions and evolving global trade dynamics, including recent US-led tariff disputes, as developments that have increased market uncertainty.

These global trends could affect commodity prices, exchange rates, and financial flows in emerging markets like Ghana.

Dr Asiama emphasised the importance of MPC deliberations, stating the Committee would assess whether the current policy stance was sufficient to drive disinflation without hindering fragile economic growth.

Key focus areas, he noted, include the sustainability of the recent exchange rate appreciation, the durability of returning market confidence, and their implications for the medium-term inflation outlook.

Despite challenges, Ghana has secured a Staff-Level Agreement with the IMF on the Fourth Review of the Extended Credit Facility (ECF) Programme.

Standard and Poor’s, a rating agency, had upgraded Ghana’s sovereign rating from selective default to CCC+.

External reserves have also improved, the trade balance has strengthened, and consumer and business confidence indices continue to rise.

You can also watch the latest news on GhanaWeb TV below:

Accra, May 24, GNA-The Ministry of Energy and Green Transition has pledged its support to the elevation of Ghana’s IEC National Committee into a full membership in the International Electrotechnical Commission (IEC).

IEC is a global organization that develops and publishes international standards for electrotechnology.

Currently, Ghana is an Associate Member, but is working towards full membership.

“We are convinced that this will open even greater doors for knowledge exchange, capacity building and industrial expansion,” Mr John Jinapor, the Minister of Energy and Green Transition, said in a statement read on his behalf by Mrs Brenda Laryea Adjapawn, Director Human Resources of the Ministry at IEC National Committee stakeholders meeting.

Full membership would allow Ghana to better integrate into a global network of technical experts and access cutting-edge knowledge. 

This would help drive local innovation, support sustainable growth, and address long-standing standardization challenges. 

The Minister said the theme: “Bridging the local innovation and global standards, Ghana’s commitment to electrotechnical excellence,” deeply aligned with the national energy and industrial vision.

“At its heart, it reflects our drive to anchor Ghana’s transformation in globally benchmarked standards that empower local solutions. Standards are a catalyst for industrial transformation,” he said.

The Minister said as Ghana moved towards a 24-hour economy, the availability of quality, reliable and sustainable energy was critical, underscoring the need for international standards, particularly IEC standards.

Through our collaboration with IEC, we have already adopted 637 IEC standards as national standards, a testament to our commitment to quality and competitiveness, synergies with government priorities.

The Minister acknowledged the tireless work of the Ghana Standards Authority and the National Committee leadership and pledged government’s continuous collaboration.

“Together, let us build an all-electric, standard-compliant, globally competitive Ghana,” he added.

Professor Alex Dodoo, Director-General of Ghana Standards Authority, said a full membership of IEC would allow Ghana to be at the forefront of influencing decision-making.

“If Ghana continues to be an associate member, we are just only users, not makers. And where we’ve reached, Ghana should be part of those influencing the decision-making process, so that our young guys and girls, our young men and women, be part of the international standards for multimedia, for smart media, for AI, and for all the things that the modern world is moving towards,” he said.

Professor Dodoo said the Authority was moving to ensure the enforcement of the over 500 standards that the country had adopted.

He said the GSA had trained 500 trading inspectors, who would be deployed throughout the country to enforce the standards in the electrical and technical equipment area.

“Really, as the country moves towards a 24-hour economy, I cannot stress the importance of ensuring that a quality infrastructure, testing, inspection, enforcement, is available.”

Mr Phillipe Metzger, IEC Secretary General, said.the big advantage of countries acting together internationally is to leverage each other’s know-how, each other’s strengths, and through that create a sort of a multinational base to avoid fragmentation, to work towards interoperability, to work towards gains that can be done both technically and also economically.

IEC was founded by members and needed to cater for the interests of its members, which can be quite diverse, so it’s also about setting the priorities, defining the right balance, because all the members have to be treated in the same way and all the members have to get their advantages out of their contributions to the organisation.

“What we see from an international perspective is that the more determined, the more precise a member, a country is in its ambitions and its goals and knowing where it has to set priorities, the easier it is to pinpoint that also in the international setting and to set the right strategies and the right priorities so that no one is left behind,” he said.

Touching on AI, Mr Metzger said it was important as the core international standards organisation, IEC could be at the forefront of creating the right framework, the right grounds for AI to be used safely and to be used responsibly but also efficiently.

“Every continent will be confronted by AI, will adopt it in one way or the other and it’s particularly important that we have a common understanding, a common grip in a sense on AI so that it doesn’t go completely astray in one continent and on another it’s entirely controlled. We have to create a framework for everybody, we are a global organisation and that’s absolutely key in our mission,” he said.

Professor Amevi Acakpovi, the President of the IEC National Committee of Ghana, said the Committee worked directly with the global IEC for the adoption of electrotechnical standards in Ghana and also on conformity assessment.

He said the conference was to bring back lessons to stakeholders who used the standards in various industries to share experiences and learn from each other.
GNA
CA/

The Growth and Sustainability levy serves as a revenue measure for the economy

The Ghana Revenue Authority has urged companies to strictly comply with the Growth and Sustainability Levy Act, 2023 (ACT 1095) alongside the Income Tax Act.

Collins Obeng, a Debt Management Officer at the GRA-Tema Community One Taxpayer Service Centre (TSC), explained that the act is to be imposed as a special levy to raise revenue for the growth and fiscal sustainability of the economy and to provide for related matters.

Obeng advised, during a tax clinic in Tema, marking the GRA’s Tax and Good Governance Month, on the theme: “Transforming for Impact and Growth, Accelerating Domestic Revenue Mobilisation Through Effective Compliance.”

He added that there are three categories of entities liable to pay the levy, stating that Category A will pay five per cent of profit before tax.

The category A companies include banks, non-bank financial institutions, insurance companies, telecommunications companies liable to collect and pay the Communication Service Tax under the Communications Service Tax Act 2008 (754), breweries, and inspection and valuation companies.

Others are oil marketing companies, communication tower operators, companies providing upstream petroleum services, electronic money issuers, shipping lines, maritime and airport terminals, and others.

He noted that Category B entities are expected to pay one per cent of gross production, noting that such institutions include mining companies and upstream oil and gas companies.

Category C companies, he noted, are the ones not captured under A or B and are to pay 2.5 per cent of profit before tax.

He explained that the profit before tax is the accounting profit of the entity as computed under Generally Accepted Accounting Principles (GAAP).

The debt management officer said the scope of application of the levy indicates that it is applied to the specified companies and institutions, despite any provision to the contrary in any agreement or enactment relating to a tax holiday or exemption from direct or indirect tax applicable to a company.

“The levy is not an allowable deduction for the purpose of ascertaining the chargeable income of a person under the Income Tax Act, 2015(Act 896). The levy is payable in respect of profits before tax or production for the 2023, 2024 and 2025 years of assessment,” he said, adding that it is to be amended up to 2028.

He cautioned companies that upon review, examination or audit, if it is detected that a taxpayer has either understated income or overstated cost which affects the net profit before tax as computed by the taxpayer, the net profit before tax shall be adjusted by the amount of any income understated or cost overstated, and the levy shall be applied on the adjusted profit before tax.

You can also watch the latest news on GhanaWeb TV below:

Belgian-based duo Lawrence Agyekum and Abu Francis are to play for the Black Stars at the 2025 Unity Cup to be staged in London later this month.

The two players’ availability was confirmed following the completion of their season with Cercle Brugge on Friday night.

The midfielders featured in Cercle Brugge’s relegation playoff game against Patro with Agyekum starting the game, while Francis came off the bench to record his 100th appearance for the club.

Agyekum has one appearance for the senior national team after coming off the bench in the 5-0 win over Chad in March during the 2026 FIFA World Cup qualifiers.

He was an unused substitute in the win over Madagascar three days later.

Francis, on the other hand, has four appearances under his belt, having debuted for the team in March 2024.

Ghana will face Nigeria on May 28 in their first game at the tournament. One of the two teams will play in the third-place playoff game or the final on May 31.

Trinidad and Tobago and Jamaica are the other teams involved.

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 Ghana Maritime Authority (GMA) has impounded two articulated trucks loaded with a shipwreck, which were removed from the sea without the necessary authorisation.

The wrecks were said to have been removed by Yusuf Star Scrap Management workers at the cost of about GH¢200,000.

Dr Kamal-Deen Ali, the Director-General of the Ghana Maritime Authority (GMA), briefing the media on the interception at Tema, said the shipwrecks, which were far in the sea, were brought close to shore, cut and taken out.

Dr Ali said that because such metals had a good market, they removed them and sold them to the various metal companies, “but to the extent that this was done without the needed permission and regulation, we have to arrest them because they also have an impact on the ecosystem”.

“So, we want to emphasise as an authority that no shipwreck should be removed without coming to the authority, applying for the necessary processes and getting permission to do that because that is why there are laws governing that, because it must be regulated.”

Dr Ali stated that the fishermen had been complaining about the activities of some people removing the shipwrecks and their impact on the fish resource available to them.

Therefore, there was a need to properly regulate the removal of shipwrecks, which included having the requisite authorisation and assessment to see whether they should be allowed or not.

He added that his outfit had the mandate to ensure that the maritime space and its ecosystem were well preserved, which extended not just to the ships but also to dealing with matters in the maritime space.

He emphasised that the removal of shipwrecks could not be done without going through the processes of the GMA, explaining that although sometimes shipwrecks could be a source of hazard, they also served as a source of ecosystem preservation, as they promoted the growth of fisheries and other living organisms at sea.

Dr Ali said, “So, there are pros and cons of shipwrecks being at sea, and that is why it is an area that must be well regulated, or any other thing that is at the bottom of the sea must be regulated.”

In this instance, the people who had removed the shipwrecks had done that without the authorisation of the Ghana Maritime Authority”.

The Director-General of the GMA said, having had information that such a thing had been going on for some years, a team from his outfit conducted surveillance and intelligence activities and interdicted it.

He said he had gone through some of the ways that the wrecks were removed, revealing that it was a very risky but very proficient activity, involving spending hours at sea trying to cut off these metals and floating them to sea.

“It shows the level of proficiency and competencies that people may have also in our country,” he said.

“So, the question is, how do we use that proficiency or divers who can spend many hours at sea? How do we use the proficiency of people who also see this as a source of livelihood, and how do we combine all that to make sure that it is well regulated and our economy is well preserved?” he said.

Dr Ali stated that on a normal basis, the intercepted shipwreck must be confiscated by the state, but as a regulatory organisation, they understand the essence of regulations, especially when the people do not have the full spectrum of the information and what they must go through.

He said rather than fully confiscate this, the Authority was going to have a discussion with those who had engaged in this and then see how the Authority ensures that they see what we do and definitely have to sign a bond, and then other consequences may come.

“They may have to pay the requisite penalty for violating the law without necessarily confiscating this,” he said.

He further added that the GMA wanted to ensure that, going forward, such activities were well regulated, as doing it without the right process could even endanger their lives, as they carry things, including gas cylinders, to sea to carry out their activities.

He said that because it is unregulated, the dealers might not even get the correct price for it, as the buyers are aware that it is unregulated, stressing that it was therefore important that the economies of scale and everything that goes with it are also looked at.

The Director-General said, “Requisite education will be put in place, the processes will be disseminated so that anybody who wants to engage in this lawfully will apply, and we can go through the processes, including what we call an environmental impact assessment, and then we can regulate the market for the removal of shipwrecks.”

Meanwhile, Prince Ibrahim, an official of Yusuf Star Scrap Management, said he was unaware that it was unlawful for them to salvage the shipwreck without authorisation.

You can also watch the latest news on GhanaWeb TV below:

The Chief Business Development Officer of IT Consortium, John Joojo Esua-Mensah, has underscored the importance of partnerships and knowledge exchange in driving innovation and growth in the country’s technology sector.

He also emphasised the need for collaboration to scale African technological solutions globally.

Mr Esua-Mensah made the call at the World Summit Awards (WSA) Global Congress held in Hyderabad, India, where Ghana won three out of the 40 prestigious awards in a global digital innovation competition. 

Winners

The winning projects are Chango, a crowd funding platform for causes like health care, education and emergencies that operated under Ghana’s financial regulatory frameworks fully regulated by the Bank of Ghana, Achieve by Petra, a savings and financial planning app and KhayaAI, an artificial intelligence (AI) platform focused on local language processing, inclusive learning and research accessibility in full compliance with Ghana’s data protection regulations.

Chango was represented by Mr Esua-Mensah, Yussif Markstar, Hosny Ben Savage and Matilda Amuzu while Achieve by Petra was represented by Huzaifa Abdulai and Daniel Anaman and KhayaAI, represented by Dr Stephen Moore and Lawrence Adu-Gyamfi.

The Hyderabad Congress gave Ghanaian winners a platform to present their solutions, connect with global peers, and engage in high-level discussions on operational scaling, digital inclusion, and the legal frameworks that foster trust and long-term innovation.

Ghana’s visibility at the WSA Global Congress was further supported by the Mohinani Group, which sponsored the participation of Kwesi Hayford (President, e-Sports Association Ghana), Kafui Anson-Yevu (Kraado), and Ato Ulzen-Appiah (GhanaThink Foundation).

Their presence contributed to a strong Ghanaian showing at the event and emphasised the growing role of private sector support in promoting digital innovation.  

Event

The event brought together Ghana’s top digital innovators and international thought leaders to discuss the future of technology and sustainable digital development which was attended by Ms Dorothy Gordon, a WSA Board Member and National Expert for Ghana, along with representatives from the WSA Global Office.

In her keynote address, Ms Gordon applauded Ghanaian winners of the WSA for their ingenuity and dedication to leveraging technology for social good.

She emphasised the need for locally grounded innovations with global reach.

Former Deputy Attorney General and Minister for Justice, Alfred Tuah-Yeboah, has blamed the persistent flooding in parts of Ghana on widespread indiscipline, both from citizens and law enforcement agencies.

Speaking on JoyNews’ Newsfile programme on Saturday, 24th May, he dismissed suggestions that the issue is solely infrastructural, arguing instead that it stems largely from human negligence and disregard for laws.

“This is about indiscipline, nothing more,” he stated firmly. “It is indiscipline on the part of those who are supposed to enforce the law, and equally on the part of those who build in waterways and unauthorised areas.”

Mr Tuah-Yeboah insisted that Ghana has adequate regulations to control urban development, but the real challenge lies in weak enforcement and public disregard for planning rules.

His comments follow the tragic floods that struck parts of the Greater Accra Region on Sunday, 18 May, leading to the confirmed deaths of five people.

The National Disaster Management Organisation (NADMO) reported that the victims included three from the Ga East Municipality and two from Adenta.

NADMO attributed the fatalities to poorly constructed drainage systems and unchecked development in flood-prone areas.

Richard Amo Yartey, NADMO’s Director of Inspectorate, highlighted in an interview with Channel One TV that the country continues to struggle with unregulated building and ineffective flood management strategies.

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.

play videoPresident John Dramani Mahama and Dr Mahamudu Bawumia

President John Dramani Mahama has refuted former Vice President Dr Mahamudu Bawumia’s assertion that the current administration lacks specific policies impacting the performance of the currency by attributing the recent appreciation of the Ghanaian cedi to good leadership and governance.

Speaking to the Ghana Catholic Bishops Conference on Friday, May 23, 2025 President Mahama said that intentional leadership decisions, not sporadic policy implementations, are what have led to the economic stabilization and misery reduction gains.

“Somebody says, point to one policy that you have implemented to make the cedi appreciate, and I said it’s not about one policy. The answer is effective leadership,” President Mahama said.

“With effective leadership, we can turn this economy around and create a better life for our people, and that is what I’m committed to.”

Dr Bawumia challenged the National Democratic Congress (NDC) to pinpoint a specific policy that was responsible for the improvement in the cedi’s performance during a meeting with Young Executive Forum (YEF) members in London.

“If you are to ask the NDC to point out exactly what policy they have implemented that has resulted in the appreciation of the cedi, they cannot tell you one,” Dr Bawumia said.

He ascribed the currency’s stability to long-standing programs like the NPP’s gold buyback scheme.

Responding to Dr Bawumia’s assertion, President Mahama emphasised the significance of leadership in reviving public trust and promoting economic recovery.

“Ghanaians had bought into the message, and they believed that I would be able to reset things in order to build the confidence of our people in our democracy again,” he noted.

“Every step I’ve taken is meant to restore the faith of our people in our democracy and let them know that we can lead this country in a way different from what has been done in the past.”

“With effective leadership, we can turn this economy around and create a better life for our people, and that is what I’m committed to. My govt will set a standard no one can undo” – Mahama#CitiNewsroom pic.twitter.com/RFAZrnKVUK

— CITI FM 97.3 (@Citi973) May 23, 2025

KA

Ghana’s former Vice President, Dr Mahamudu Bawumia resumes NPP thank you tour in Eastern Region

The European Union (EU) has announced over €1billion in infrastructure and development investments under the ‘Team Europe’ initiative for the period of 2021 to 2027 to boost its strong economic partnership with Ghana.

Team Europe Initiatives (TEIs) focus on identifying critical priorities that constrain development in a given country or region, where a coordinated and coherent effort by ‘Team Europe’ would ensure results with a transformative impact. They are a practical illustration of how EU priorities are turned into concrete results on the ground.

Team Europe consists of the European Union, EU Member States including their implementing agencies and public development banks, as well as the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD).

Team Europe approach

This ‘Team Europe approach’ means joining forces so that our joint external action becomes more than the sum of its parts.

By working together and pooling our resources and expertise, we deliver more effectiveness and greater impact.

Team Europe was initially put in place to ensure a coordinated and comprehensive response between the EU and its Member States to the COVID-19 pandemic and its consequences.

The EU, alongside member states such as Germany, has significantly scaled up its financial commitments to Ghana across strategic sectors, including energy, health, trade, security and education.

At this year’s Europe Day celebration in Accra, the EU Ambassador to Ghana, Irchad Ramiandrasoa Razaaly, disclosed that “between 2021 and 2027, Team Europe will invest no less than €1billion – approximately GH₵16 to GH₵17billion into infrastructure and development projects in Ghana.

Europe Day event

The Europe Day event is held annually on May 9. It commemorates the 1950 Schuman Declaration and celebrates European unity.

This year’s occasion served as a platform to strengthen diplomatic and commercial ties between Ghana and the EU, as well as to highlight the EU’s role as a reliable partner in Ghana’s socio-economic development.

The EU recently allocated €55million of grants, in collaboration with its German partners, to help position Ghana as a continental hub for vaccine production as an additional €62million is being channelled toward the long-anticipated retrofitting of the Kpong Dam, a key infrastructure project expected to boost energy resilience.

These major undertakings underscore the importance of investment in realising transformational projects under the three pillars of the EU’s development approach in Ghana: infrastructure through the Global Gateway Initiative, security cooperation and education.

Investment initiative

Through the Global Gateway – Europe’s strategic investment initiative the EU– and its member states are supporting the construction of smart, sustainable cities in Ghana, with expanded access to energy, clean water and sanitation.

On the security front, the EU has provided € 50 million in military equipment and training, backed over 30 security-focused projects and maintained joint maritime operations with the Ghana Navy in the Gulf of Guinea.

With education, the EU is investing in skills development and expanding student exchange programmes to empower Ghanaian youth.

Addressing the evolving global economic and geopolitical landscape, Ambassador Razaaly stressed the importance of cooperation based on shared values, saying: “In times of global uncertainty, Europe remains an anchor of stability – a place of opportunity and protection for its citizens”.

The EU and its institutions are working towards the common goal of ensuring prosperity and competitiveness, guaranteeing our security and defence, while upholding the fundamental values Europeans care about. Together with Ghana, we aim to address challenges that no nation can solve alone. This is the essence of our shared commitment to multilateralism.

Business Forum

The Ghana-EU Business Forum offers a platform for active participation between European and Ghanaian private sector operators and policymakers.

The forum, which is the 3rd Edition, represents a renewed opportunity for the EU, its Member States and the private sector from Europe and Ghana to engage on their investment agendas transparently and inclusively, intending to foster confidence and commitment to a stronger and sustainable partnership.

This year’s Ghana – EU Business Forum comes off on May 20-21. It is a highlight for the European Union, as it serves as a vehicle to realise the EU Global Gateway.

Under its Global Gateway policy, the EU and Member States have invested over €800 million, about 13 billion Ghanaian cedis, in large-scale infrastructure, notably in the energy, health and transport sectors.

Deepening cooperation

The theme of this year’s Ghana – EU Business Forum speaks for itself: ‘Deepening Ghana – EU Cooperation on trade and investment in non-traditional value chains under the EU Global Gateway Strategy’. This theme confirms the EU’s commitment to Ghana; a commitment that stands strong through decades of deepening partnership.

In Ghana, the European Union works in a Team Europe spirit, mobilising the full force of the European Union, Member States and institutions, including financial institutions.

Team Europe offers an elaborate network of connections and funding that harness faster GDP growth and private sector development in Ghana.

The Ghana – EU Business Forum is a vibrant convergence of vision, ambition and actionable partnerships, embodying the spirit of the Global Gateway Strategy in real-time.

Today, we celebrate together with the Private Sector operators from both Ghana and the EU, who are here to look for opportunities, learn more about priority sectors, find business connections, find investors and, above all, strike deals.

Visionary leadership

The Ghana – EU Business Forum results from months of dedicated preparation behind the scenes, working hand-in-hand with the Government of Ghana.

To our partners in the Ghanaian government, I extend my wholehearted thanks for your unwavering commitment and visionary leadership.

The EU Ambassador in as address was incredibly proud to present the Ghana – EU Business Forum 2025, especially as he will be leaving Ghana later this year for a new post.

The EU and Ghana share strong bilateral relations characterised by economic partnership, trade and mutual political cooperation.

The EU is Ghana’s largest development partner, and their relationship is strengthened by various agreements and initiatives, including the Economic Partnership Agreement (EPA). Key areas of collaboration include trade, economic development, regional security and sustainable development. 

The Minister for Gender and Social Protection, Dr. Agnes Naa Momo Lartey, has revealed the deep personal toll of her controversial swearing-in incident, describing how public scrutiny shattered her introverted nature and left her emotionally devastated.

In an exclusive interview on JoyNews Personality Profile aired on Friday, May 23, the soft-spoken government official broke her silence about the 2025 incident that made national headlines regarding her late arrival for the swearing-in ceremony.

At the time, Government Spokesperson Felix Kwakye Ofosu explained that officials responsible for organizing the event had been unfair to Dr. Lartey, as she was genuinely out of town due to a family emergency but was compelled to return within an unreasonably short timeframe.

“It did break me,” Lartey confessed, her voice unsteady. “I’ve always been an introvert, not one to crave the spotlight. I’m also very sensitive, not the type to intentionally seek unnecessary attention. If I said it didn’t affect me, I’d be lying. I was worried, very worried, especially about people who knew me.”

The emotional scars remain visible as she recounts the aftermath: “I kept asking myself what I could have done to prevent the situation.”

When pressed about whether she had explained herself to authorities, Dr. Lartey became reticent: “I don’t like too many excuses. If you couldn’t do it, you couldn’t do it. The more you explain, the murkier it gets.”

She expressed profound gratitude to the government spokesperson who defended her at the time and to the President for his leniency.

“Let me use this platform to say a big thank you to His Excellency. There were so many decisions he could have taken, but he gave me another chance.”

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.

play videoProfessor John Gartchie Gatsi will lead BoG’s expert team to operationalise Islamic Banking in Ghana

The Bank of Ghana is taking strategic steps toward the implementation of Islamic Banking, with newly appointed Monetary Policy Committee advisor, Professor John Gartchie Gatsi, spearheading the initiative.

Professor Gatsi, who also serves as Dean of the Business School at the University of Cape Coast, will work with a dedicated team to develop this alternative financial system.

Governor of the Bank of Ghana, Dr Johnson Asiama, announced at the 124th Monetary Policy Committee (MPC) press briefing held in Accra on Friday, May 24, 2025.

He underscored the central bank’s readiness to accommodate Islamic Banking, a financial model compliant with Islamic Shariah law that prohibits interest-based transactions.

“Professor Gatsi is purposely here to help drive this introduction. Let me say that we have internal capacity, we have some people who know what it takes and what to do. However, we need a few steps. The head of banking supervision has gone through a lot of programmes, he is very comfortable with them,” Dr Asiama revealed.

Dr Asiama acknowledged that while the current regulatory framework, specifically the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930), allows for Islamic banking, certain critical elements were not included in the legislation.

“The current banking law, which is Act 930, which we passed in 2016, provides for it. However, there were some lapses. For example, the establishment of the Sharia supervisory boards and the like. Those were not captured in Act 930, so Professor Gatsi and his team will be doing some work in that regard to ensure that we are able to operationalise Islamic financing, especially Islamic banking,” he explained.

“Remember, it goes just beyond Islamic Banking; there are other aspects of financing involved. So we are working on it. Hopefully, very soon, when we are ready, we can consider licenses to establish an Islamic Bank,” Dr Asiama added.

Addressing broader economic concerns, Dr Asiama also touched on recent developments in the exchange rate market.

Following the Ghanaian cedi’s significant rebound against major international currencies, many consumers are anticipating downward adjustments in prices.

“You can understand that some people stock their goods at a higher exchange rate, and so naturally, even with the appreciation, it takes a while for you to see that adjustment. However, rest assured that you will see the adjustment certainly so long as there is competition, so long as it is not a monopoly, and we will see that kind of phenomenon very soon,” Dr Asiama said.

Responding to a question on the sustainability of the cedi’s appreciation, he emphasised the importance of focusing on long-term trends rather than short-term gains.

“The Cedi appreciation has to be put into proper context. Much as you want to have Cedi stability in nominal terms, the important thing here is to ensure that in real terms, the Cedi is not appreciating persistently. And so the MPC went into a lot of deliberations, looked at the real movement of the exchange rate, and we think that where we are now, we don’t have that problem of real appreciation that would adversely impact our competitiveness,” he added.

He was quick to clarify that the current currency gains are market-driven, not propped up by central bank interventions.

“But the appreciation is largely driven by the markets, it is not something that the central bank is using its reserves for. If you look at the data pack we have put out, you can see that our reserve programme is growing, so we are not using our reserves to intervene in the market, therefore, the appreciation you are seeing is driven by economic policy stance of the monetary policy, by international flows. So yes, it is appreciation; however, for us, it is about maintaining exchange rate stability,” he explained.

FKA/MA

Société Générale Ghana

The Bank of Ghana (BoG) says it is awaiting final agreement between parties involved in the sale of shares in Société Générale Ghana before taking any further regulatory action.

Speaking at the 124th Monetary Policy Committee (MPC) press conference in Accra on Friday, May 23, 2025, Governor of the Bank of Ghana, Dr Johnson Asiama, clarified that the central bank is not directly involved in the sale process but will ensure that all regulatory requirements are met before issuing its approval.

“Yes, at the last MPC, I made a point that the sale was on. The sale is still on as far as we are concerned. As a central bank, we are not parties to the sale; ours is to ensure that there is due diligence and that the parties that agreed on the sale meet our requirements,” Dr Asiama said.

“We are just waiting for the parties to the sale to reach an agreement. They will write to us and we will do the necessary due diligence. We will check everything we need to check and then issue our no-objection. So that exercise is still ongoing, we haven’t heard anything since the last MPC when we touched on this,” he added.

This reiterates comments Dr Asiama made during the previous MPC press conference on March 28, 2025, where he assured that BoG’s role is strictly regulatory.

“The sale of shares in Société Générale is ongoing, a number of prospective buyers have touched base with us. But as you know, we are central bank regulators. Ours is to issue a no-objection; ours is to ensure that the prospective buyer meets the fit and proper requirements,” he said.

“We await negotiations on their part. When it is concluded, we will then look at the aspects that we have to look at. We will have to make sure that they meet the policy guidelines when it comes to mergers and acquisitions, and to make sure that everything is fit and proper. So that is where we are as far as the SG transaction is concerned. We are waiting for the shareholders, we are waiting for the agreements that can be reached, and then we will get involved for that sale to go to the next step,” Dr Asiama explained.

The clarification comes in the wake of a statement issued by Société Générale Ghana on May 9, 2024, confirming that its parent company, Société Générale Group, which holds a 60.22% stake, had begun a strategic review.

“Société Générale Ghana has been informed that Société Générale Group, which holds 60.22% of Société Générale Ghana, has initiated a strategic review. If a concrete development were to be decided, a subsequent communication will be made at the appropriate time according to applicable legislation,” the bank said.

However, just a day earlier, on May 8, 2024, the Managing Director of Société Générale Ghana, Hakim Ouzzani, dismissed reports of the bank’s exit from Ghana as speculation.

“Some rumours have indeed taken root regarding SG Ghana. But it’s important to mention to all our stakeholders and our shareholders that the news item being circulated in the media was not issued by the group nor by SG Ghana,” Ouzzani said during the bank’s 44th Annual General Meeting in Accra.

“We don’t want to comment further,” he added, while reaffirming the bank’s commitment to strengthening its capital base, a strategy it has been pursuing since 2023.

Reports suggesting that the French banking group was preparing to exit Ghana after nearly two decades of operations have been circulating in local media.

However, no official confirmation of such a move has been provided by the bank or its parent group.

MA

The Progressive Intellectuals (PI), a prominent think tank and advocacy group, has extended a warm welcome to Vice President Professor Jane Naana Opoku-Agyemang upon her return to Ghana after a successful medical review abroad.

In a press release issued on Friday, May 23, 2025 the group expressed immense joy and relief at the Vice President’s return, noting that her recovery has been a subject of fervent prayers among its members. The PI described her comeback as a “heartening development” that reinforces hope in Ghana’s governance and economic revival.

Since assuming office alongside President John Dramani Mahama, Vice President Opoku-Agyemang has been instrumental in shaping the policies driving Ghana’s economic transformation.

The Progressive Intellectuals highlighted the remarkable progress made within the first 120 days of the National Democratic Congress (NDC) administration, crediting the government’s strong leadership and clear policy direction for the stabilization of the Ghanaian cedi and broader economic recovery.

Professor Yunus Dumbe, President of the Progressive Intellectuals, praised the Vice President’s resilience and dedication, stating that her return symbolizes renewed hope for the nation.

“Her Excellency’s presence is not only a morale booster but also a catalyst for deeper intellectual and policy engagement toward fulfilling the NDC’s manifesto promises,” he said.

The group reaffirmed its unwavering support for the government’s agenda, aligning its vision with Ghana’s founding fathers’ aspirations for prosperity and progress. The statement concluded with prayers for the Vice President’s continued good health and a pledge to stand firmly behind her and the administration in building a brighter future for all citizens.

As Ghana continues on its path to economic revitalization, the return of Vice President Opoku-Agyemang has been met with widespread optimism, reinforcing confidence in the government’s ability to deliver on its promises.