December 26 is observed as Boxing Day

Boxing Day, observed on December 26, has its roots in centuries-old traditions of charity and service that emerged in Britain.

The origins of the day trace back to St Stephen’s Day, which is commemorated on December 26.

In churches throughout England, alms boxes used to collect donations during Advent were opened, and their contents were distributed to the poor, widows, and others in need.

Christmas 2025: Ghanaian churches embrace season with renewed hope and festivity

This act of generosity reflected the Christian response to Christmas, sharing the blessings received.

During the Victorian era, Boxing Day also became the day when household servants who worked on Christmas Day were given time off and presented with “Christmas boxes” from their employers.

These boxes often contained money, food, or gifts as tokens of appreciation for a year of service.

Know these four things that come with Christmas

Over time, this tradition of giving and rest became formalised, evolving into a recognised public holiday.

Through British colonial influence, the observance spread to several parts of the world, including Ghana, where it was incorporated into the country’s official holiday calendar.

While the original practice of giving out boxes has largely faded, the spirit behind the day has endured.

Today, Boxing Day is widely regarded as a time to recover after Christmas celebrations.

It is marked by family gatherings, sporting activities, charity events, and quiet reflection.

In many communities, it has also become a moment to extend kindness to the vulnerable, reconnect with loved ones, and reset ahead of the New Year.

Though its meaning has evolved over time, Boxing Day remains a reminder that the joy of Christmas finds its fullest expression not in receiving, but in sharing.

JKB/MA

Christmas Festivities: Avenor traders, buyers speak on livestock sales

Dr Johnson Asiam is the Governor of the Bank of Ghana

The Bank of Ghana has disclosed that its international reserves could cross $13 billion by the end of 2025.

This, according to the bank’s projection, is based on its data as of mid-December 2025.

According to a statement issued by the Central Bank, the development is expected to increase investor and donor confidence.

According to its November Economic and Financial Data, as of the end of October 2025, Ghana’s international reserves stood at $11.4 billion, up from $7.4 billion in October 2024.

However, market watchers have attributed the strong growth in BoG’s reserves to the bank’s reserve accumulation programme and the domestic gold purchasing programme.

BoG dismisses gold loss claims, cites IMF-backed macroeconomic gains

The 2025 development indicates that the Bank of Ghana added $4 billion to its international reserves this year, marking another record achievement in the country’s reserves build-up.

In 2025, the Central Bank auctioned approximately $10 billion to cover obligations to Independent Power Producers (IPPs), bondholders, dividend payments, and other essential commitments.

Read BoG’s full statement below:

SP/EB

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The surge was driven by expectations that the United States may cut interest rates

Silver crossed the $75 mark for the first time on Friday, December 26, 2025, as gold and platinum also climbed to record highs.

The surge was driven by expectations that the United States Federal Reserve may cut interest rates, as well as rising global tensions.

Gold prices rose by 0.8% to trade at $4,516.50 per ounce by 9:33 GMT, after earlier hitting a new record of $4,530.60.

According to UBS analyst Giovanni Staunovo, “Prospect of lower US interest rates is still supporting demand for gold and silver, lifting both metals to new record highs.”

Gold on track for $50 weekly gain as prices hold at $4,340 per troy ounce

He added that, “Low liquidity is amplifying the volatility across all precious metals.”

Gold is now heading for its strongest annual performance since 1979. This is being supported by expectations of easier US monetary policy, strong buying by central banks, increased investment through gold-backed funds, and a gradual shift away from the US dollar.

Market expectations currently point to the US Federal Reserve cutting interest rates twice next year [2026]. This outlook has increased demand for assets such as gold, which do not earn interest but are considered safe during periods of economic uncertainty.

In physical markets, gold discounts in India rose to their highest level in more than six months, while discounts in China eased after hitting a five-year high last week.

Silver jumped by 4% to trade at $74.82 per ounce after earlier reaching an all-time high of $75.14. The metal has gained about 158% so far this year, supported by supply shortages, its classification as a critical mineral in the United States, and strong industrial demand.

Platinum also recorded strong gains, rising by 7.3% to trade at $2,382.35 per ounce after earlier hitting a record high of $2,448.25. Palladium climbed by 8.3% to $1,823.76, extending gains after reaching a three-year high in the previous session.

Overall, all major precious metals are on course to end the week higher, with platinum recording its strongest weekly increase on record.

With additional files from Reuters

MA

The governing board of the Volta Aluminum Company Limited (VALCO), led by Ambassador Horace Nii Ayi Ankrah, has held its first strategic engagement meeting with company management to address operational challenges and chart a course for the smelter’s revival.

The meeting, held recently in Accra, provided an opportunity for the board to engage management on key operational, administrative and strategic matters aimed at strengthening VALCO’s performance and advancing its mandate within Ghana’s industrial and manufacturing sector.

During the engagement, the board reaffirmed its commitment to providing strong leadership, policy direction and effective oversight to support management in repositioning VALCO as a critical driver of value addition, job creation and economic growth.

Management briefed the board on ongoing operations, prevailing challenges and strategic plans for the future. The engagement underscores a shared commitment by both parties to work collaboratively towards ensuring long term operational excellence and sustainable growth at VALCO.

VALCO currently operates at roughly 40 percent capacity, producing approximately 40,000 tonnes of aluminum annually against its nameplate capacity of 200,000 tonnes. The company employs about 750 workers at its Tema facility.

The smelter has struggled with high production costs, outdated machinery inherited from previous owners Kaiser Aluminum and Alcoa, and frequent shutdowns due to energy supply issues. The plant has been operating with the same dated technology for decades, resulting in one of the highest production costs per tonne of aluminum globally.

Government acquired Kaiser’s 90 percent stake in VALCO in 2004 for 18 million dollars and purchased the remaining 10 percent from Alcoa four years later for two million dollars, making it a wholly Ghanaian owned company under the Ghana Integrated Aluminum Development Corporation (GIADEC).

VALCO was established in 1967 as a joint venture between the Government of Ghana and Kaiser and Reynolds of the United States, forming a key component of Ghana’s industrialization strategy linked to the Volta River Project and Akosombo Dam. Ghana’s first president, Kwame Nkrumah, identified the Integrated Aluminum Industry (IAI) as the starting point for the country’s industrialization agenda.

The company initially began operations with three cell lines, producing 120,000 metric tonnes of aluminum annually. Significant expansions in 1970 and 1974 increased capacity to 200,000 metric tonnes per year, solidifying VALCO’s position as a key player in Sub-Saharan Africa’s primary aluminum production.

VALCO has gone through turbulent phases including a series of shutdowns largely due to lack of investment, repairs and maintenance. Since 2011, the smelter has resumed operations albeit at reduced capacity.

The government established GIADEC in 2018 with a mandate to develop and promote Ghana’s Integrated Aluminum Industry. GIADEC has developed a comprehensive strategy and master plan to utilize Ghana’s 900 million metric tonnes of bauxite deposits, existing aluminum smelter and related assets, with a key focus on value addition and job creation.

The modernization and retrofitting of VALCO is estimated to require 600 million dollars. The project aims to increase the plant’s current production to 300,000 tonnes annually, representing a 650 percent capacity increase. After retrofitting and modernizing the plant, the smelter is expected to create thousands of high paying direct and indirect jobs for Ghanaians.

Government inaugurated an investor selection committee in November 2025 to evaluate proposals from prospective investors and recommend the most suitable partner who brings capital, technology, technical expertise, local capacity building, environmentally responsible practices and a shared commitment to Ghana’s long term prosperity.

The absence of a domestic alumina refinery has long been the missing link in achieving full integration of Ghana’s aluminum industry. Currently, VALCO continues to import alumina from countries such as Jamaica to feed its production process.

Plans for the Integrated Aluminum Industry include building an in country alumina refinery to ensure a stable and cost effective supply of alumina to VALCO, reducing reliance on imports. The refinery project, Ghana’s first of its kind, will enable the country to refine its own bauxite into higher value alumina that will feed a modernized VALCO smelter.

GIADEC requires more than six billion dollars to fully develop Ghana’s aluminum value chain, including both the refinery and smelter modernization projects. The corporation has been actively engaging investors with the financial capability and industry expertise to support the IAI’s development.

The African Selection Group (ASG) has expressed strong interest in Ghana’s aluminum value chain, particularly in retrofitting and modernizing the VALCO smelter and constructing an alumina refinery. The company aims to enhance the smelter’s efficiency and production capacity from its current level to over 300,000 metric tonnes annually.

For almost six decades, VALCO has been a cornerstone in Ghana’s journey toward developing a robust and integrated aluminum industry. Using VALCO as the anchor of the IAI project, Ghana aims to add value to its over 700 million metric tonnes of bauxite deposits at Kibi and Nyinahin, potentially generating over 1.05 trillion dollars and creating approximately 2.3 million sustainable jobs.

The Chamber of Digital Assets and Blockchain Innovation Ghana (CDABI-GH) has praised regulators and Parliament for passing the Virtual Asset Service Providers Bill, describing it as a major milestone that brings clarity and credibility to the country’s digital asset ecosystem.

In a statement issued in Accra on December 23, 2025, the Chamber said the new law provides a clear signal that while Ghana is open to innovation, it remains equally committed to responsibility, consumer protection and market discipline.

Parliament passed the legislation on December 19, 2025, with Bank of Ghana (BoG) Governor Dr. Johnson Asiama announcing the development during the central bank’s annual Nine Lessons, Carols and Thanksgiving Service. The law now awaits presidential assent before taking full effect.

According to CDABI-GH, the legislation marks Ghana’s transition from regulatory uncertainty to a structured and supervised digital asset environment. The Chamber praised the Governor and the Virtual Asset Service Provider (VASP) policy and technical teams, as well as the Director General of the Securities and Exchange Commission (SEC) and Commission officials, for what it described as their discipline, foresight and commitment to national interest.

The Chamber stated that the work of regulators had transformed a complex and fast moving frontier into a governed, credible and investable ecosystem. CDABI-GH characterized the legislation as more than a law, calling it a signal to innovators that Ghana is open, to investors that Ghana is safe, and to citizens that Ghana is protected.

The Chamber commended Parliament for passing the legislation without undue delay, noting that the decision reflects a preference for thoughtful regulation over hesitation. According to the statement, the move positions Ghana to shape its digital finance future rather than react to developments elsewhere.

Ghana’s digital asset market has grown substantially despite regulatory uncertainty. Approximately three million Ghanaians, representing roughly 17 percent of the adult population, already use cryptocurrencies. Transaction data shows crypto activity in Ghana reached approximately three billion dollars in the year through June 2024.

The absence of a comprehensive legal framework had raised concerns about consumer protection, market integrity and regulatory oversight. Industry players and regulators have repeatedly highlighted the need for clear rules to guide innovation while managing associated risks.

The new law establishes a dual regulator model, with the Bank of Ghana and the Securities and Exchange Commission sharing oversight responsibilities. All individuals and entities engaged in virtual asset activities will be required to obtain a licence or registration from either the BoG or SEC, depending on the nature of their services.

Governor Asiama confirmed that virtual asset trading is now legal and no one will be arrested for engaging in cryptocurrency activities. However, companies offering digital asset services must obtain licenses, comply with reporting requirements and submit to ongoing supervision.

The Bank of Ghana plans to implement licensing and supervisory rules in phases throughout 2026. Regulatory instruments and detailed guidelines are expected in early 2026, giving firms time to prepare for compliance. Existing virtual asset service providers will need to register and meet compliance standards to continue operating.

At the National Virtual Asset Literacy Program on December 22, 2025, SEC Deputy Director General Mensah Thompson detailed that licensing requirements extend to public figures and online promoters. He stated that no one will be allowed to offer advice on crypto performance without authorization, with law enforcement agencies prepared to arrest violators and apply sanctions.

CDABI-GH said the new law addresses longstanding concerns by providing certainty for market participants and strengthening confidence among local and international investors. It added that the framework is expected to support sustainable growth of the sector by balancing innovation with accountability.

The Chamber pledged its support to the Bank of Ghana and the Securities and Exchange Commission during implementation. It said its role will include promoting compliance, building capacity within the industry, educating market participants and supporting responsible innovation across the digital asset ecosystem.

Ghana now joins countries like South Africa and Nigeria in moving toward structured oversight of digital assets. According to Chainalysis’ 2025 Geography of Cryptocurrency Report, Ghana ranks among the top five Sub-Saharan African countries by total crypto value received between July 2024 and June 2025.

CDABI-GH had previously engaged with the BoG in July 2025 at The Bank Square in Accra, where Governor Asiama assured the Chamber of inclusion in future stakeholder forums. Those consultations contributed to finalizing the regulatory framework that has now become law.

According to CDABI-GH, the passage of the Virtual Asset law represents a defining moment in Ghana’s digital development, laying the foundation for a more mature, trusted and well regulated digital asset market aligned with broader financial sector stability and economic growth objectives.

The Ghana Statistical Service (GSS)

The Ghana Statistical Service (GSS) says conditions are ripe for government to accelerate infrastructure projects under the ‘Big Push’ programme, urging it to capitalise on the current decline in building costs.

Omar Seidu, Acting Deputy Government Statistician, at the release of the Prime Building Cost Index (PBCI) for November 2025, in Accra, stated that the year-on-year building construction cost had seen a significant decline.

The PBCI, which tracks how overall construction costs change over time by measuring prices of building materials, labour, and plant equipment, recorded year-on-year inflation of 5.9 percent in November 2025, down from 21.7 percent in November 2024.

At the sub-group level, labour inflation dropped from 22 percent in November 2024 to 12.7 percent in 2025, materials inflation reduced from 22.3 percent to 4.2 percent, while plant inflation declined from 9.7 percent to 5.3 percent.

“The construction economy is in a period of relative stability. Costs are still higher than last year, but the pace of increase has slowed dramatically. This is a useful environment for households, businesses, and government to plan and execute projects,” Seidu said.

“With prices relatively stable, it is an opportune time to fast-track the infrastructure programme, especially the Big Push programme. The current stability provides an ideal environment to accelerate road construction, hospital building, school infrastructure,” he noted.

The Acting Deputy Government Statistician, however, called for investments and incentives for local production and improvement in utilisation of the top 10 high contributors of inflation in the sector, noting their impact on overall sector inflation.

They are steel (37.1 percent), skilled labour (26.3 percent), unskilled labour (15.5 percent), tiles (13.2 percent), equipment (4.7 percent), glazing (4.2 percent), coarse aggregate (3.2 percent), surface finishes (2.1 percent), timber (1.9 per cent) and door (1.6 percent).

“Ghana now has local capacity for plumbing materials and other exports. If more companies produce these essential items locally, it will reduce our reliance on imports and stabilise the inflationary pressures we currently face,” he stated.

He encouraged the government to target the top drivers to help stabilise the prime building cost index for the construction sector as well as upskilling artisans by expanding training for them.

He also urged households to phase their projects to take advantage of the reduced cost, advising businesses to fix the price of major items for medium-term contracts before any potential price hikes.

Seidu said GSS had rebased the PBCI, using 2023 as the rebasing year, with the new series now tracking 406 items from 16 regional markets across 489 outlets, providing much greater detail than the old series.

He explained that the new system tracked four different building models including hotels and office blocks, compared to only a two-bedroom house used previously, giving a comprehensive view of the construction industry.

Alhassan Iddrisu Abdulai, the Head of Price Indices and Inflation, speaking exclusively with the Ghana News Agency after the event, said: “a steady decline in construction costs could make building cheaper.”

“Fiscal policy discipline by the government is contributing to economic stability [and] inflation is easing partly due to the stabilisation of the local currency. If this stability continues, building will become more affordable than it was in the recent past, which the government could benefit from current economic conditions,” he said.

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Ghana has achieved substantial progress in education access and participation, with enrollment figures reaching historic highs following the introduction of free senior high school education.

Senior high school enrollment jumped from 308,799 students in 2016 to 507,519 in 2024, reflecting the impact of the Free Senior High School (Free SHS) policy implemented in 2017. The programme, which covers tuition, boarding, meals and textbooks, has transformed access to secondary education across the country.

The policy has particularly benefited female students. Research shows the Free SHS policy increased girls’ senior high school completion rates by 14 percentage points, helping to narrow longstanding gender gaps in education attainment.

Beyond secondary education, Ghana’s tertiary sector has expanded significantly. Tertiary enrollment reached 635,000 students in 2022, representing more than fivefold growth over 17 years. The country operates several large public universities alongside an expanding network of private institutions and technical colleges.

Adult literacy has also improved markedly. Ghana’s adult literacy rate climbed from 64.5 percent in 2017 to 76.5 percent in 2021, continuing a decades-long upward trend. Youth literacy rates now exceed 90 percent for both males and females.

Education experts credit these gains to sustained policy reforms and increased public spending. The government has invested in teacher recruitment, infrastructure development and student financial support programmes to boost access at all levels.

However, challenges remain. Research indicates the Free SHS policy has strained resources at the basic education level, with capital investment reduced to almost zero. Quality concerns have also emerged, with overcrowding in some schools and questions about learning outcomes despite higher enrollment numbers.

UNESCO assessment data from 2018 showed only 19 to 25 percent of pupils met proficiency standards across grades and subject areas, highlighting the need for continued focus on educational quality alongside access.

Ghana continues to attract international students and partnerships, positioning itself as a regional education hub. The country’s politically stable environment and English-language instruction have made it an appealing destination for students from across West Africa.

The Inspector General of Police (IGP) Mr Christian Yohunu has inaugurated an ultra -modern police music academy centenary in Accra which would play a major role in the police music department.

The edifice would contribute to the police musical development in the country and world at large.

Inaugurating the facility in Accra yesterday , the IGP said the building would significantly enhance the police musical department and its activities adding it came at a timely moment.

According to him , music by all standards is a universal part of human life, present in culture and every stage of human life which needed critical attention.

“Whether we sing, play instrument, or simply listen, music weaves itself into moments of Joy, Stress, or reflection, “ he said.

The IGP said the occasion was historic, not merely because they were unveiling an edifice, but because they were affirming a strategic philosophy of policing that recognised music as an essential instrument of security, discipline and public confidence.

He said in modern security management, effectiveness was no longer measured solely by enforcement capability but by public trust, morale, discipline and cultural legitimacy.

He highlighted that the establishment of the academy positioned Ghana as a regional hub for structured, professional, and disciplined security music training within West Africa and beyond.

Mr Tetteh Yohunu noted that the commissioning was happening during the Christmas season, “Christmas reminds us of peace, sacrifice, and service, values that align directly with the mandate of the Ghana Police Service”.

For his part , Deputy Commissioner of Police, (DCOP )Dr Frank Hukporti described the edifice as “historic” and “deeply personal”, adding that it marked the culmination of a vision he had nurtured for over a decade.

“This occasion is not only historic for the band, but deeply personal to me, as it represents the culmination of a vision that has has began over a decade ago and marks the closing chapter of my active service,”he said.

He said the country‘s institutions provided theory but lacked practical band training, so he envisioned an academy blending academia with hands-on professionalism through the new building.

Dr Hukporti credited the IGP for his support, saying his leadership ensured the completion despite funding challenges.

He also thanked corporate organisations and individuals who contributed to the success of the project adding that the project would go a long way to promote music in the future.

BY AGNES OPOKU SARPONG

Buah recalled that the vision of adding value to Ghana’s bauxite dates back to 1967

The Minister for Lands and Natural Resources, Emmanuel Armah-Kofi Buah, has charged the newly inaugurated Governing Board of the Volta Aluminium Company Limited (VALCO) to lead the transformation of Ghana’s vast bauxite resources into a thriving and sustainable aluminium industry.

Speaking at the inauguration ceremony, where 10 board members were sworn in, the Minister described the responsibility placed on the board as both national and historic.

“Ghana is blessed with abundant bauxite resources, and your duty is to ensure these resources are converted into tangible economic benefits that will support industrial growth, create jobs, and strengthen our economy,” he stated.

Buah recalled that the vision of adding value to Ghana’s bauxite dates back to 1967 but has remained largely unrealised. He urged the board to provide strong leadership and clear direction.

“You must pursue a compelling vision, strengthen governance, and commit to strategic investments that will finally deliver a responsible and sustainable aluminium value chain for this country,” he said.

The Minister expressed concern that downstream aluminium industries currently utilise less than 20 percent of VALCO’s output, describing it as a major missed opportunity.

“It is unacceptable that after all these years, VALCO is still unable to meet the needs of the local market. By the end of your tenure, the Ghanaian market must be fully supplied,” he stressed.

He further called for the modernisation and expansion of the VALCO smelter to improve efficiency and increase capacity, while reminding the board of its critical oversight role.

In his acceptance remarks, Board Chairman Horace Nii Ayi Ankrah expressed gratitude to President John Dramani Mahama and the government for the confidence reposed in the board. He assured management and staff of the board’s full support, pledging strong corporate governance and accountability.

Felicity Nelson, founder of the Felicity Nelson Foundation and Deputy CEO (Operations) of the Ghana Tourism Development Company, led a humanitarian outreach on Thursday, December 25, 2025, distributing hot meals, beverages, toiletries, and essential supplies to over 200 individuals held at the Railways, Baatsona, and Cantonment Police Stations.

The foundation’s Humanitarian Support Initiative aims to provide essential support, promote dignity, and address welfare gaps, particularly for detainees who rely entirely on external assistance for food, water, and hygiene—needs that become more acute during the festive season.

Madam Felicity Nelson’s act of compassion was deeply personal. In 2024, she was arrested and detained for 17 days following her participation in the ‘Fix the Country’ demonstrations—14 days at Cantonment, one at Baatsona, and two at Railways Police cells.

“Not all the inmates are guilty; many are just charged at the moment. None has been convicted. They are human beings who deserve love, care, and to feel important. That’s why I decided to do this initiative,” Madam Nelson told the media during the distribution.

She added, “For many detainees, Christmas passes like any other day, without family, food, or comfort. This initiative is about restoring dignity, sharing compassion, and ensuring that no one is forgotten during the holidays.”

She said the outreach also represents a shift in approach to activism, moving beyond advocacy and protests to community-centred action.

“Activism must not only speak truth to power but also show up, meet people where they are, and respond to real human needs,” she said.

Madam Felicity Nelson expressed appreciation for the cooperation of the Ghana Police Service, which facilitated the Christmas Day distribution.

Elizabeth Ofosu-Adjare is the Minister of Trade, Agribusiness, and Industry

Minister of Trade, Agribusiness and Industry, Elizabeth Ofosu-Adjare has expressed confidence that the Ministry will record steady gains in 2026 to support economic growth.

She said achieving that objective would depend on sustained collaboration, mutual respect, and a shared sense of purpose among management and staff.

She was speaking at the Ministry’s End-of-Year Carols and Thanksgiving Service held in Accra on December 22, 2025.

She said the period should allow staff to rest, reflect and renew, noting that despite demanding tasks ahead, collective effort would ensure continued progress in delivering the Ministry’s mandate.

“It is my hope that this period will provide each of you with the opportunity to rest, reflect and renew your spirits. As we look ahead, the tasks before us remain demanding, but together we will continue to make steady progress in the delivery of our mandate in service to our nation,” she said.

The Minister described the Nine Lessons and Carols service as an opportunity for staff to step away from daily routines to reflect, connect and celebrate, adding that the season highlighted gratitude, community and renewal.

She said the gathering was significant as it marked the Ministry’s final opportunity to come together before the end of the year.

Ofosu-Adjare commended staff for their dedication and service, saying, “After months of shared effort, sacrifice and service to the nation, you deserve to applaud yourselves.”

“The lessons and carols we have shared this morning remind us of the enduring message of Christmas- hope, humility, service and renewal.”

She said those values aligned with the Ministry’s mandate of supporting enterprise, strengthening agribusiness, promoting industry and facilitating trade to improve livelihoods and advance national development.

The Minister expressed appreciation to management and staff for their commitment, professionalism and resilience throughout the year, despite challenges encountered.

She said the season also called for recognition of staff as individuals with families and personal responsibilities.

“Notwithstanding the various challenges encountered, you have continued to discharge your duties with diligence and a strong sense of responsibility,” she noted.

Ofosu-Adjare said staff efforts, often undertaken quietly, had contributed significantly to the Ministry’s performance, stating that, “Your efforts, many of which take place quietly and behind the scenes, have contributed meaningfully to the performance of the ministry and its agency.”

She said she had fulfilled a commitment made upon assuming office by presenting two staff buses to ease commuting challenges.

“Although I promised one bus, I am pleased to inform you that two staff buses are here and ready. This is a modest but practical expression of appreciation for your dedication…”

She encouraged staff to use the festive season to rest and reconnect with family and loved ones and to return in the new year refreshed to continue their collective efforts.

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The highly anticipated Joy FM Party in the Park 2025 is officially underway, with a steady stream of patrons trooping into the Aburi Botanical Gardens as excitement builds for what promises to be an unforgettable entertainment experience.

From the early hours, music lovers, families, and revellers have been arriving in large numbers, creating a vibrant and festive atmosphere.

The annual event, held every 26th of December, runs from morning into the late afternoon at the lush gardens just outside Accra.

The park is already alive with colour, energy, and sound as attendees soak in the ambience of the open-air event.

Setting the tone for the day is a live band performance the Shakers Royal Band, which is currently thrilling patrons with energetic renditions of popular tunes and classic crowd favourites.

The live music has drawn cheers and applause, warming up the audience and heightening anticipation for the lineup of activities and performances scheduled throughout the event.

Vendors are actively serving food, drinks, and merchandise, while groups of friends and families gather across the park to enjoy the music and socialise.

Security personnel and event organisers are also on hand to ensure smooth coordination and safety as the crowd continues to grow.

The Joy FM Party in the Park has become a staple on the entertainment calendar, celebrated for bringing people together through music, culture, and community engagement.

This year’s edition is expected to deliver even more excitement, with several performances and interactive segments lined up for patrons.

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.

Boxing Day is an extension of Christmas Day for leisure, gift giving and relaxation

December 26 is widely known as Boxing Day, a time when friends, families, and loved ones exchange, give, and receive gifts.

Given current economic and global trends, you don’t necessarily need to break the bank to find the perfect gift.

Although Christmas is a season of joy, it is important to remain mindful of the coming year and its financial obligations.

In this era of DIY (Do It Yourself), many people are becoming more innovative, turning to budget-friendly options amid rising living costs and tighter household budgets.

Here’s a curated list of tips for budget gifting this Christmas:

Christmas on a Budget: 10 affordable gift ideas to consider this Christmas

1. Plan and set a budget first

It’s hard to stick to a budget if you haven’t created one. Write down all the occasions that will require you to buy a gift. Then decide how much you want to spend overall and stick to those limits. By knowing your spending limits beforehand, you can stretch your budget and still give great gifts without feeling like you’ve overspent.

2. Research gift options and prices

Once you’ve set a realistic gift budget, do some research. Look for sales and discounts, as many stores offer holiday or seasonal deals. Take advantage of these sales to make your gift budget go further.

3. Prioritise your gift list

When creating a gift budget, list all the people you need to buy gifts for and rank them in order of importance. This will help you allocate your budget more effectively. Focus first on the most important people in your life, such as close family members and friends.

4. Consider shared gifts

Sometimes your gift budget can feel limiting. Shared gifting is a smart solution, go in with a friend or sibling on a gift. This way, you can afford a more expensive or special item that the recipient would really appreciate or may not buy for themselves.

5. Opt for services as gifts

Think about acts of kindness or skills you can offer that someone would value. You could help clean a family member’s home, babysit their children, or offer lessons if you have a special talent. For example, if you play the piano, you could give piano lessons as a thoughtful gift.

With these five tips, you can protect your finances while ensuring that the gifts you choose will be cherished by your loved ones.

SP/MA

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Featured

Alberto Mario Noretti

Dec – 26 – 2025 , 12:01

2 minutes read

File photo of a rubber plantation

The Rubber Farmers Association of Ghana (RUFAG) has rejected claims that exports of raw rubber are unchecked and harmful to Ghana’s industrialisation agenda.

In a statement copied to the Ghana News Agency, the Association said calls for a complete ban on such exports were false and inimical to the livelihoods of farmers.

It said recent pronouncements by Ghana Rubber Estates Limited (GREL), the Rubber Processors Association of Ghana (RUPAG), the Western Regional House of Chiefs and the Ranking Member of Parliament’s Trade and Industry Committee, Mr Michael Okyere Baafi, did not reflect the realities of the industry.

The Association said allegations that raw rubber exports were “unchecked” and responsible for annual losses of up to US$100 million lacked credible evidence.

It explained that exports of unprocessed rubber were carried out under a regulated regime approved by Government and supervised by the Tree Crops Development Authority (TCDA), Customs Division of the Ghana Revenue Authority, the Ghana Ports and Harbours Authority and other security agencies.

The association noted that a TCDA directive issued on May 2, 2025, required all exporters of unprocessed rubber, cashew and shea to be registered, licensed and issued permits before export, stressing that the directive was being strictly enforced under Act 1010 and the Tree Crops Regulations, 2023 (L.I. 2471).

“The narrative of unchecked exports is therefore entirely false,” the Association stated.

It argued that the push by processors for an export ban was aimed at monopolising the market and suppressing competition, leading to low farm‑gate prices.

The Association said while processing companies employed fewer than 1,000 workers combined, the farming and trading ecosystem sustained over 300,000 tappers, 200,000 carriers and loaders, 150,000 farm maintenance workers, tens of thousands of transport operators and more than two million dependents.

RUFAG said any policy that reduced competition would worsen rural poverty, unemployment and social instability in rubber‑growing communities.

It questioned claims that raw rubber exports deprived Government of revenue, noting that exporters complied with statutory levies payable to the TCDA, while some processors were allegedly in default.

The Association said Ghana lacked advanced rubber processing factories, explaining that most existing plants converted cup lumps into Technically Specified Rubber (TSR), which was still exported as a primary commodity.

It said that after more than five decades of operation, major processors had not transitioned into the manufacture of finished products such as tyres, gloves, or medical supplies.

RUFAG rejected claims that processors were unable to operate at full capacity due to raw material shortages, attributing the situation to low prices offered to farmers and labour shortages on processor‑owned plantations.

It cited payment delays by some processors, sometimes lasting weeks or months, contrasting this with prompt payments and better prices offered by exporters.

On legal matters, RUFAG said neither Act 1010 nor L.I. 2471 prohibited the export of raw rubber but empowered the TCDA to regulate exports through a permit system to ensure traceability and market balance.

The Association reiterated that it was not opposed to rubber processing but advocated fair competition, lawful regulation and inclusive growth that placed farmers at the centre of the industry.

It appealed to Government and the public to resist calls driven by narrow interests and pledged readiness to engage transparently with any committee or investigative body in the national interest.

“The future of Ghana’s rubber industry depends on fairness, transparency and shared prosperity, not monopoly control,” the statement said.

All you need to know about Ghana’s new vehicle number plates |BizTech:

Professor H. Kwasi Prempeh has clarified that proposals to extend Ghana’s presidential term from four years to five would not apply to President John Mahama if adopted, explaining that constitutional amendments cannot retroactively alter the conditions under which a sitting president was elected. The chairman of the Constitution Review Committee said Mahama was elected under the existing framework stipulating a four year term, making it legally impossible to change his current tenure even if Parliament and voters approve the proposed extension.

Speaking in an interview with JoyNews on December 25, 2025, two days after presenting the committee’s report to President Mahama, Professor Prempeh emphasized the principle underlying this position. He said that in an earlier draft of the committee’s report, they had explicitly stated the five year term would take effect only after Mahama’s current tenure ends. The clarification aims to address speculation that the proposal might be designed to benefit the incumbent president or any specific political figure.

The Constitution Review Committee presented its final report at the seat of government in Accra on December 22, 2025, after 11 months of deliberations that included visits to all 10 regions and consultations with academics, trade unions, former presidents and citizens. Among numerous recommendations touching on governance structure, state enterprises and the Council of State, the proposed extension of presidential tenure emerged as one of the most consequential and publicly debated proposals.

Professor Prempeh explained that the committee received strong feedback from individuals who had worked closely with the 1992 Constitution, including some who had occupied the presidency. These eminent persons argued that four years proved insufficient to assemble a competent government and govern effectively. The committee weighed this input against public skepticism, with some citizens arguing that if four years isn’t enough, the real problem lies in governmental inefficiency rather than inadequate time.

Comparative evidence played a decisive role in the committee’s thinking. Professor Prempeh noted that Ghana now belongs to a dwindling group of countries maintaining four year presidential terms, particularly among new democracies in Africa. The global norm in presidential systems has shifted from four to five years, with most African nations following this pattern. In West Africa specifically, Ghana and Nigeria represent outliers with their four year cycles, while Benin and Liberia operate six year terms, and most others have adopted five year presidencies.

The committee identified serious management and timing problems under the current system. New presidents require approximately six months to settle into office, a period consumed by appointing cabinet members, convening the Council of State, conducting consultations and completing other administrative requirements. At the other end of their term, presidents spend nearly a year campaigning for re election, leaving a narrow window of perhaps 30 months for actual policy implementation and governance.

To address these constraints, the committee proposed regulating campaign seasons to establish definite periods before which electioneering cannot occur. Professor Prempeh referenced Senegal’s model where strict campaign timing prevents the continuous political activities that currently distract from governance in Ghana. Combined with the five year term, these reforms aim to create an environment where governments receive adequate time to implement policies without constant campaign pressure.

Professor Prempeh rejected the notion that extending the term makes life easier for presidents. He argued the opposite, describing the five year system as tougher on incumbents and more demanding. Under the current four year arrangement, Ghana has developed what he characterized as a tradition where virtually every president receives eight years, with voters accepting arguments that four years provided insufficient time to complete work. This pattern has created an unhealthy expectation of automatic second terms regardless of performance.

A five year term changes that calculation fundamentally. Professor Prempeh said that if a president hasn’t performed well in five years, Ghanaians are unlikely to entertain the idea of granting additional time. The longer initial term removes the excuse of inadequate time while raising voter expectations for visible results. According to the committee’s analysis, this shift could disrupt the eight year tradition, potentially leading to more presidents serving only five years rather than the current near automatic eight.

The professor addressed concerns that multiplying five by two equals 10, suggesting the proposal simply extends presidential rule. He dismissed this arithmetic as missing the political reality, explaining that earning a second five year term will prove far more difficult than securing re election under the four year system. The 10 year total becomes harder to achieve because voters judge performance over a longer initial period with higher standards.

President Mahama received the report and indicated it would be published soon, though he provided no specific date. He said he doesn’t want the document kept like a nuclear secret, signaling transparency about the committee’s recommendations even as the actual reform process begins. The president acknowledged that some proposals are far reaching but necessary to strengthen Ghana’s democratic order, particularly given strains on constitutional governance elsewhere in the sub region.

Article 66(2) of Ghana’s 1992 Constitution strictly limits the presidency to a maximum of two four year terms. The Constitution Review Committee deliberately avoided reopening debates about this provision, finding no public demand or political appetite for a third term. Professor Prempeh said the committee looked extensively for arguments supporting additional terms but concluded that even President Mahama opposes such changes. Rather than addressing term limits, they focused on improving governance efficiency within existing constraints.

The committee’s broader recommendations extend beyond presidential tenure. They propose ending what they describe as the hybrid relationship between executive and legislature, favoring clearer separation between these arms of government. Changes targeting the public sector aim to reduce partisan influence, including placing state owned enterprises under constitutional oversight through a body similar to the State Interests and Governance Authority. Professor Prempeh explained that the economic weight and systemic risks of such enterprises justify closer constitutional regulation to protect them from over politicization.

The Council of State would receive expanded authority under the proposals, moving closer to its original 1969 conception as a co guarantor in presidential appointments. These structural changes complement the five year term by creating institutional checks that prevent concentration of power while giving governments adequate time to implement policy without excessive interference or the constant distraction of electoral politics.

Implementation of any constitutional amendments requires a complex process involving parliamentary approval, national referendum and broad political consensus. The 1992 Constitution cannot be amended easily, requiring two thirds parliamentary support and voter approval in a referendum where participation must exceed 40 percent of registered voters. This high threshold ensures that fundamental changes reflect genuine national consensus rather than partisan advantage.

Political reactions to the five year proposal have varied. Some commentators, including lawyer Martin Kpebu, have publicly rejected the extension, arguing it could create opportunities for abuse or entrench poor performers for longer periods. Supporters counter that comparative evidence and governance efficiency concerns justify the change, particularly given how much effective governing time presidents lose under the current arrangement.

The timing of these proposals carries significance beyond their technical merits. Ghana faces substantial governance challenges including economic recovery following International Monetary Fund (IMF) intervention, debt restructuring, security concerns in northern regions and broader questions about institutional effectiveness. Constitutional reforms touching on term lengths, separation of powers and state enterprise oversight speak directly to these challenges by attempting to create structures that promote competent, accountable governance regardless of which party holds power.

Whether Parliament and voters ultimately embrace the five year term remains uncertain. The proposal requires navigating political calculations, public opinion and competing visions of optimal governance structures. Opposition parties must weigh whether supporting an extension initiated under National Democratic Congress (NDC) government serves their long term interests, while the ruling party must demonstrate the proposal advances national interests rather than partisan advantage.

Professor Prempeh’s clarification that the change won’t apply to President Mahama attempts to remove one potential objection. By making clear the sitting president receives no personal benefit, the committee signals that the proposal flows from principle rather than political convenience. Whether this reassures skeptics depends partly on broader trust in the constitutional review process and confidence that reforms aim at institutional improvement rather than partisan engineering.

The debate highlights fundamental tensions in constitutional design. Term lengths involve tradeoffs between giving governments adequate time to implement policy and maintaining regular accountability through frequent elections. Four years privileges frequent democratic refreshment but potentially sacrifices policy continuity and effective implementation. Five years grants more governing time but extends the period before voters can render judgment on performance.

International experience offers no definitive answer. Countries have adopted various presidential term lengths based on their specific histories, political cultures and governance challenges. What works effectively in one context may prove problematic in another. Ghana’s task involves determining which approach best serves its democratic development at this particular moment, considering both comparative evidence and distinctive national circumstances.

The Constitution Review Committee spent nearly a year gathering input, analyzing evidence and formulating recommendations. Professor Prempeh presented their work as the product of inclusive, structured engagement rather than elite imposition. Whether Ghanaians perceive the proposals this way will significantly influence their ultimate fate. Constitutional amendments require not just technical soundness but political legitimacy flowing from genuine consultation and transparent deliberation.

As Ghana begins processing these recommendations, attention will focus on several questions. Does extending presidential terms genuinely improve governance or simply entrench power? Will voters hold five year presidents to higher standards or treat extended terms as entitlements? Can campaign regulations actually limit electioneering to defined periods? Will structural reforms reduce partisan influence over state institutions or merely reshuffle existing power arrangements?

For now, Professor Prempeh has laid out the committee’s vision for constitutional reform centered on governance efficiency, institutional integrity and democratic accountability. The five year term stands as perhaps the most visible element of a broader reform package that touches multiple aspects of Ghana’s constitutional order. Whether this vision becomes reality depends on the complex political process ahead, where technical arguments, partisan calculations and popular sentiment all play roles.

The clarification that President Mahama would remain unaffected by the five year term if adopted removes one line of criticism but leaves substantive debates about the proposal’s merits intact. Ghana faces choices about fundamental governance structures with implications extending far beyond any single presidency. How these choices are made and what they ultimately produce will shape the country’s democratic trajectory for decades to come.

A senior technical advisor at Ghana’s Finance Ministry has defended the International Monetary Fund’s (IMF) proposed three month extension of the country’s Extended Credit Facility (ECF) programme, characterizing such adjustments as routine practice in fund supported arrangements worldwide. Dr. Theo Acheampong said the extension carries no negative implications for Ghana’s economic recovery trajectory or the government’s reform commitments.

The IMF disclosed the proposed extension in its staff report following completion of the fifth review of Ghana’s three billion dollar, 39 month ECF arrangement approved in May 2023. The extension would push the programme’s conclusion from May 2026 to August 2026, providing additional time to implement reforms underpinning the sixth and final review. According to the fund, the adjustment reflects the complexity of structural reforms rather than programme failure or performance concerns.

Dr. Acheampong emphasized that minor extensions occur frequently across IMF programmes globally when countries need additional time to complete challenging structural reforms while maintaining satisfactory performance on quantitative targets. He said Ghana’s case fits this pattern, with the government meeting all end June 2025 performance criteria and indicative targets despite facing significant policy slippages in late 2024.

The fifth review assessment praised Ghana’s corrective actions following pre election fiscal deterioration. The IMF Executive Board noted that growth through September 2025 exceeded expectations, driven by strong services and agriculture sectors. Inflation fell within the Bank of Ghana’s target range, the external sector strengthened on robust gold and cocoa exports, and reserve accumulation surpassed ECF targets. The cedi appreciated against major currencies, and Ghana’s debt trajectory improved significantly.

Completion of the fifth review triggered immediate disbursement of approximately 385 million dollars, bringing Ghana’s total disbursements under the arrangement to roughly 2.8 billion dollars. The fund described Ghana’s performance as generally satisfactory, acknowledging that authorities showed strong programme ownership by decisively implementing ambitious corrective actions after 2024 policy slippages.

The extension addresses structural reform delays rather than quantitative performance failures. Out of eleven structural benchmarks for the fifth review, four were met on time, two were implemented with delays, one was completed as a prior action, one is expected in December 2025, and three were missed. The missed benchmarks included merging certain statutory funds with their line ministries, though authorities adopted an alternative approach to achieve the programme’s objective of reforming earmarked funds.

Ghana’s 2024 policy slippages emerged from pre election fiscal pressures that led to large accumulation of payables. Preliminary fiscal data showed the primary balance posted a deficit of approximately 3.25 percent of gross domestic product (GDP) compared to a targeted surplus of 0.5 percent. Inflation exceeded programme targets during that period, and several reforms across fiscal, financial and energy sectors experienced delays.

The National Democratic Congress (NDC) government led by President John Mahama, which took office following December 2024 elections, responded with strong corrective measures. These included auditing 2024 payables, cleansing the taxpayer registry and ledger data, submitting the 2026 budget to Parliament aligned with programme objectives, and implementing a strategy for state owned banks that had been delayed since April 2024.

The 2025 budget enacted by the new administration targets a 1.5 percent of GDP primary surplus, representing a significant fiscal adjustment from the 2024 deficit. The government achieved this through additional revenue mobilization and expenditure rationalization while protecting vulnerable populations from adjustment impacts. Several public financial management reforms strengthened budget controls and ensured alignment of spending commitments to available resources.

Dr. Acheampong also addressed IMF commentary on Ghana’s Domestic Gold Purchase Programme (DGPP), saying the fund signaled overall support for retaining the stabilisation benefits while recommending operational reforms. The programme has generated controversy following claims of losses, though the Bank of Ghana dismissed these as speculative and premature pending completion of annual external audits.

The IMF staff report flagged financial risks associated with the DGPP but acknowledged its broader contribution to macroeconomic stability. The programme strengthened international reserves, supported currency stability, and enabled access to foreign exchange without increasing public debt. The operational role of GOLDBOD as an aggregator channeling gold inflows from small scale mining into formal markets received particular praise.

To address fiscal and operational concerns, the Bank of Ghana’s Board approved reforms to improve pricing and operational efficiency in the programme’s downstream segment. These reforms take effect January 2026, supported by allocations in the 2026 national budget to fully resource GOLDBOD. The measures aim to minimize losses and ensure long term macroeconomic and institutional sustainability.

Ghana’s international reserves have grown substantially under the programme. Provisional central bank data suggest reserves could exceed 13 billion dollars by end 2025, bolstering confidence in the economy. Gold reserves specifically surged nearly 39 percent over the past year, climbing from 25.97 tonnes in August 2024 to 36.02 tonnes by August 2025, valued at 3.17 billion dollars.

The cedi’s appreciation of more than 50 percent against major trading currencies since January 2025, trading at 11.85 to the US dollar by May, reflects both the DGPP impact and broader macroeconomic improvements. Dr. Acheampong previously warned that cedi gains could prove temporary without disciplined policy action, emphasizing structural economic reforms beyond reserve accumulation.

Despite generally positive performance, the IMF expressed concern about Ghana’s economic outlook. The fund said the macroeconomic outlook remains positive though subject to significant downside risks, mainly stemming from potential deterioration in the external environment, particularly commodity price volatility. Confidence effects arising from policy and reform slippages represent additional risk factors.

The programme extension occurs as Ghana works to complete its comprehensive debt restructuring. The government reached agreements with commercial eurobond holders and major bilateral partners including China, addressing approximately 13 billion dollars in external debt. The restructuring restored Ghana’s debt sustainability and allowed the country to regain market access after being shut out during the 2022 debt crisis.

Ghana’s debt trajectory has improved markedly under the IMF programme. The government enacted an enhanced fiscal responsibility framework limiting debt to GDP ratio to 45 percent and requiring minimum primary surpluses of 1.5 percent. These rules, enforced through constitutional amendments and legislation, aim to prevent future fiscal crises by institutionalizing discipline regardless of electoral cycles.

The Finance Ministry is establishing a Fiscal Council to provide independent oversight of budget processes and prevent future slippages. Dr. Acheampong explained that while the ministry works internally to achieve targets, an external institution ensures discipline and enhances credibility. The council, created under amended Public Financial Management Act 1136, should be fully operational as Ghana exits the IMF programme by mid 2026.

Abdul Karim Mohammed, coordinator of the Economic Governance Platform, welcomed the Fiscal Council as an independent oversight mechanism comparable to the Public Interest and Accountability Committee’s role in the extractive sector. He said several platform recommendations on debt sustainability are being implemented, including new commitment control measures to curb unauthorized borrowing by state institutions.

The three month extension provides breathing room to complete remaining structural reforms while maintaining momentum on fiscal consolidation. Key outstanding benchmarks include finalizing energy sector reforms, strengthening revenue administration, improving state owned enterprise management, and completing cocoa sector restructuring. These reforms address longstanding structural vulnerabilities that contributed to Ghana’s 2022 economic crisis.

Looking ahead, the government faces pressure to maintain reform momentum while managing political demands for increased spending. The 2026 budget submitted to Parliament aligns with programme objectives and the new fiscal responsibility framework while accommodating developmental and security needs. Balancing these competing priorities will test the administration’s commitment to fiscal discipline.

International investors are watching Ghana’s performance closely. Successful programme completion and establishment of credible fiscal institutions could restore confidence and lower borrowing costs when Ghana eventually returns to international capital markets. Conversely, backsliding on reforms or failure to institutionalize discipline would signal continued vulnerability and maintain risk premiums.

The IMF programme has provided crucial breathing space for Ghana to implement difficult but necessary reforms. The 3 billion dollar facility supported balance of payments, enabled debt restructuring, and restored macroeconomic stability after the 2022 crisis. Whether Ghana emerges from the programme with durable improvements to fiscal and economic management depends on implementing and maintaining institutional reforms beyond the programme period.

Dr. Acheampong’s comments reflect government efforts to manage public perception of the extension, emphasizing normalcy rather than difficulty. His technical explanation aims to prevent the extension from becoming politically weaponized or interpreted as programme failure. Whether this messaging succeeds depends partly on the government’s ability to complete remaining benchmarks and exit the programme on the revised timeline.

For now, Ghana’s immediate challenge involves implementing the sixth review’s outstanding structural benchmarks while preparing for programme exit. The three month extension provides additional time but also extends IMF oversight, delaying the moment when Ghana must demonstrate it can maintain discipline independently. That test will ultimately determine whether the programme achieved lasting transformation or simply postponed difficult choices.

The Ghana National Fire Service (GNFS) in the Tema Region has recorded a total of 536 fire outbreaks between January and November 2025, representing a reduction from the 616 cases reported during the same period in 2024.

Divisional Officer II (DO II) Ebenezer Yenzu, the Tema Regional Public Relations Officer of the GNFS, disclosed this in an interview with the Ghana News Agency (GNA) in Tema.

He said that out of the 536 incidents, 170 occurred in residential homes, while 115 were recorded in commercial premises, largely due to human activities.

DOII Yenzu urged the public to prioritise fire prevention measures, particularly during the Christmas festivities, when fire risks tend to increase.

He advised residents to observe safety measures while cooking, conduct regular electrical checks, keep flammable materials away from heat sources, and ensure the availability of functional fire safety equipment.

He cautioned against leaving cooking unattended, keeping curtains and towels near open flames, allowing grease to accumulate on cooking appliances, and leaving electrical appliances switched on when away from home or shops.

The Tema Fire PRO also warned against overloading electrical sockets, using faulty appliances, and neglecting regular inspections of electrical cords. He advised that matches and lighters be stored safely out of reach of children.

DOII Yenzu further urged residents to keep candles at least 12 inches away from flammable materials and to extinguish them before sleeping to prevent fire outbreaks. He stressed the importance of installing smoke alarms in kitchens, bedrooms, hallways, markets, and offices to ensure early detection of fire incidents.

He also encouraged households and businesses to acquire fire extinguishers, keep them accessible, and learn how to use them effectively.

DOII Yenzu reminded the public that the GNFS can be reached on emergency numbers 112 or 192 for prompt response to fire incidents.

Ghana is working to position the Czech Republic as a key partner for foreign investment and technology transfer into its emerging cannabis industry, as sector leaders prepare for an April 2026 trade mission expected to draw participants from across Europe and North America. The Chamber of Cannabis Industry Ghana is strengthening bilateral ties ahead of the event, which aims to connect Ghanaian producers with international capital and expertise.

Dr. Mark Darko, Chief Executive Officer of the Chamber of Cannabis Industry Ghana (Cannacham), told reporters his organization recently met with officials from the Czech Embassy in Accra to advance cooperation across the cannabis value chain. The discussions covered medicinal cannabis, industrial hemp, research, technology transfer, capacity building and investment opportunities. The April mission represents a critical moment for Ghana’s nascent cannabis sector to establish itself within global supply networks.

The Czech Republic offers several features that make it attractive as a partnership target. The country has operated a medical cannabis programme since 2013 and is implementing adult use legalization starting January 2026, allowing adults to grow up to three plants at home and possess specified quantities. Czech regulators also introduced the Psychomodulatory Substances Act in July 2025, creating a framework for low tetrahydrocannabinol (THC) cannabis products containing up to one percent THC, positioning the country as a regulatory innovator within the European Union.

Beyond its evolving legal framework, the Czech Republic has developed strong capabilities in agricultural technology, precision farming and pharmaceutical research. Dr. Darko emphasized these strengths align with Ghana’s ambitions to move beyond raw cultivation into value added processing. The chamber views Czech expertise in controlled environment agriculture, genetic optimization and quality standards as particularly valuable for helping Ghana meet international market requirements.

The trade mission scheduled for April will bring together Ghanaian private sector players, regulators and policymakers with cannabis firms from Canada, the United States, Germany, the Netherlands and other jurisdictions. Despite being hosted in Prague, Dr. Darko characterized it as having global reach. He described the event as essential networking infrastructure for Ghanaian companies seeking partnerships, investment capital and technical knowledge.

According to Dr. Darko, the chamber’s outreach to Czech industry groups pursues two objectives: attracting Czech capital and technology into Ghana’s cannabis sector, and exposing Ghanaian businesses to international best practices in cultivation, processing and medical research. He said building relationships with established European players would help Ghana avoid common pitfalls that have plagued cannabis markets elsewhere, particularly around quality control, regulatory compliance and sustainable business models.

Ghana legalized cannabis for medicinal and industrial purposes through amendments to the Narcotics Control Commission Act, opening pathways for licensed cultivation and processing. The legislation permits production of cannabis with THC levels not exceeding point three percent for industrial hemp applications, while separate provisions cover medical cannabis cultivation. The Narcotics Control Commission oversees licensing, though industry participants have pressed for clearer guidance on fees, operational requirements and export procedures.

Climate represents Ghana’s most significant structural advantage in global cannabis production. Dr. Darko pointed out that cannabis can grow year round in Ghana’s tropical conditions, contrasting sharply with European and North American markets where cultivation typically requires expensive indoor facilities with artificial lighting, climate control and substantial energy inputs. This natural advantage translates into lower production costs, a compelling factor for international entrepreneurs evaluating where to establish supply operations.

The chamber expects foreign direct investment to accelerate once regulatory clarity improves. Licensing procedures remain a work in progress, with potential investors seeking definitive information about application processes, compliance standards, inspection protocols and renewal requirements. Ghana’s parliament passed the enabling legislation, but secondary regulations governing day to day operations continue evolving. This uncertainty has slowed capital deployment despite strong interest from international firms.

Dr. Darko’s strategy centers on integrating Ghana within established global value chains rather than building an isolated domestic industry. The Czech partnership exemplifies this approach. By connecting with a European Union member state that maintains strong trade relationships across the continent, Ghana positions itself to access broader European markets once its products meet required standards. The Czech Republic’s experience navigating EU pharmaceutical and agricultural regulations makes it a valuable bridge.

Beyond the Czech engagement, Ghana’s Chamber of Cannabis Industry has pursued similar partnerships with Israel, hosting a forum in September that showcased precision agriculture technologies, smart irrigation systems and genetic optimization. These efforts reflect recognition that success in global cannabis markets demands more than favorable growing conditions. Product consistency, laboratory testing infrastructure, supply chain traceability and regulatory compliance separate viable export operations from those unable to penetrate sophisticated markets.

The global cannabis industry continues expanding rapidly, with medical markets leading growth. Allied Market Research valued the sector at twenty five point seven billion dollars in 2021 and projects it will reach one hundred forty eight point nine billion dollars by 2031. Europe is expected to emerge as the largest medical cannabis market globally, with projections suggesting it could reach forty five billion dollars within five years. Ghana aims to capture a meaningful share of this growth.

Dr. Darko has consistently emphasized cannabis as an economic transformation opportunity for Ghana, comparing it favorably to cocoa. Unlike cocoa, where Ghana exports raw beans and imports expensive processed chocolate, cannabis offers opportunities for full scale industrialization within the country. Processing facilities could create value added products including pharmaceuticals, cosmetics, textiles and construction materials, generating employment across multiple sectors while boosting gross domestic product.

The chamber estimates Ghana could generate approximately one billion dollars annually from cannabis if the industry develops according to projections. Dr. Darko calculated that farmers could earn at least ten thousand dollars per hectare of cannabis cultivation, substantially more than most traditional crops. These figures have energized stakeholders across Ghana’s agricultural sector, particularly in regions like Volta where favorable agro ecological conditions align with established farming expertise.

However, significant obstacles remain before Ghana realizes these ambitions. The country needs substantial investment in processing infrastructure, laboratory facilities capable of conducting required quality testing, and training programmes to build technical capacity among farmers and processors. The Chamber of Cannabis Industry has established a training centre to address skill gaps, partnering with private companies like Sky Bridge Pharmaceuticals to equip participants with cultivation and processing techniques meeting international standards.

Export market access presents another major challenge. Ghana must demonstrate its cannabis products meet stringent quality standards required by target markets. This means implementing good agricultural practices, good manufacturing practices, and establishing supply chain controls that satisfy importing country regulators. Building this infrastructure requires capital, technical expertise and time, all factors driving Ghana’s pursuit of international partnerships.

The April trade mission to Prague represents one component of a broader internationalization strategy. Ghana is simultaneously engaging multiple markets and seeking diverse partnerships to accelerate industry development. The Czech relationship offers particular value because it combines regulatory sophistication, technological capability and membership in the European Union. For Ghana’s cannabis sector, gaining credibility within European frameworks could unlock opportunities across the continent.

Beata Matusiková, Economic and Trade Counselor at the Embassy of the Czech Republic in Accra, confirmed strong potential for cooperation between Czech and Ghanaian stakeholders. She emphasized knowledge exchange, investment and technical collaboration as priority areas. The embassy’s willingness to facilitate business connections suggests Czech interest in African cannabis markets extends beyond rhetoric into practical engagement.

The timing appears favorable for both sides. The Czech Republic’s cannabis sector is expanding as new regulations take effect, creating opportunities for companies to diversify supply sources and establish positions in emerging markets. Ghana offers competitive production costs and favorable growing conditions, while seeking the technology, capital and market access that Czech partners could provide. These complementary needs form the basis for mutually beneficial collaboration.

As the April trade mission approaches, attention will focus on whether discussions translate into concrete deals. Past experience across Africa shows that trade missions often generate enthusiasm but struggle to produce sustained commercial relationships. Success will depend on whether participants move beyond general interest into specific commitments around investment, technology transfer and market development. Ghana’s cannabis sector needs tangible partnerships, not just diplomatic encouragement.

For now, Dr. Darko and the Chamber of Cannabis Industry Ghana continue building international networks and preparing the groundwork for Ghana’s entry into global cannabis supply chains. The Czech Republic represents one piece of a larger puzzle, but potentially an important piece given its regulatory leadership in Central Europe and connections throughout the European Union. Whether this partnership delivers the transformation Ghana seeks will become clearer in the months and years ahead.

Half of the joint venture will be owned by a group of investors

TikTok’s Chinese owner ByteDance has signed binding agreements with American and global investors to operate its business in the US, the video platform’s boss told employees on Thursday.

Half of the joint venture will be owned by a group of investors including Oracle, Silver Lake and the Emirati investment firm MGX, according to a memo sent by chief executive Shou Zi Chew.

The deal, which is set to close on 22 January, would end years of efforts by Washington to force ByteDance to sell its US operations over national security concerns.

It is in ​line with a deal unveiled in September, when US President Donald Trump delayed the enforcement of a law that would ban the app unless it was sold.

TikTok said in the memo that the deal would enable “over 170 million Americans to continue discovering a world of endless possibilities as part of a vital global community”.

Under the agreement, ByteDance will retain 19.9% of the business, while Oracle, Silver Lake and Abu Dhabi-based MGX will hold 15% each.

Another 30.1% will be held by affiliates of existing ByteDance investors, according to the memo.

The White House previously said that Oracle, which was co-founded by Trump supporter Larry Ellison, will license TikTok’s recommendation algorithm as part of the deal.

The deal comes after a series of delays.

In April 2024, during President Joe Biden’s administration, the US Congress passed a law to ban the app over national security concerns, unless it was sold.

The law was set to go into effect on 20 January 2025 but was pushed back multiple times by Trump while his administration worked out a deal to transfer ownership.

Trump said in September that he had spoken on the phone to China’s President Xi Jinping, who he said had given the deal the go-ahead.

The platform’s future remained unclear after the leaders met face-to-face in October.

The app’s fate was clouded by ongoing tensions between the two nations on other matters including trade.

“TikTok has become a bargaining chip in the wider US-China relationship,” said Alvin Graylin, a lecturer at the Massachusetts Institute of Technology.

“With recent softening tensions, Beijing’s sign-off on the structure and algorithm licensing now looks less like capitulation and more like calibrated de-escalation, letting both capitals claim a win at home.”

The White House referred the BBC to TikTok when contacted for comment.

Oracle and Silver Lake declined to comment. The BBC has contacted MGX for comment.

The deal drew critiques from Senate Democrat Ron Wyden of Oregon, who said it would not do “a thing to protect the privacy of American user”.

Under the terms, TikTok’s recommendation algorithm is set to be retrained on US user data to ensure feeds are free from external manipulation.

“It’s unclear that it will even put TikTok’s algorithm in safer hands,” said Wyden.

He opposed the 2024 law and was among US lawmakers who lobbied to extend the TikTok deadline in January in a bid to give Congress more time to mitigate threats from China.

Some users also expressed caution at the prospect of new investors.

Small business owner Tiffany Cianci, who has more than 300,000 followers and nearly four million likes on the platform, said she hopes the incoming investors will maintain the same user experience for entrepreneurs like her.

“I hope small business owners are protected,” she said.

TikTok has said that more than seven million small businesses market their products and services on TikTok in the US.

“I reserve judgement on whether or not we have saved the app for those small businesses,” Ms Cianci said.

She added that she chose TikTok for promotion because the platform offered profit-sharing on terms that are more favourable than what competitors like Meta offered.

Over the last year, Ms Cianci has been active in organising protests in Washington and on TikTok aimed at saving the app.

Morgan Ayawine, General Secretary ICU-Ghana

The Industrial and Commercial Workers’ Union (ICU-Ghana) has renewed its commitment to protecting the interests of Ghanaian workers, particularly in ensuring fair and adequate pay as the country enters the New Year.

While recognising the government’s efforts, the Union stressed that more must be done to address the needs of ordinary workers and Ghanaians who have long endured economic difficulties.

This was contained in a statement signed by the General Secretary of ICU-Ghana, Morgan Ayawine.

The statement noted that while not all expectations for 2025 have been fully met, the progress achieved so far should serve as a springboard to drive workers into the New Year with higher productivity and improved remuneration.

It urged workers not to despair but rather to continue working harder to consolidate the government’s economic gains and ensure their sustainability for the benefit of all.

The Union commended the government for fully recapitalising the National Investment Bank Limited during the year under review, saying this has empowered the bank to deliver effectively on its mandate towards national economic growth.

ICU-Ghana also urged the government to address the financial challenges confronting COCOBOD. It called for the bailout of selected state-owned enterprises, including PBC Limited, Volta Star Textile Limited, Graphic Communications Group Limited, New Times Corporation, and the Pwalugu Tomatoes Factory. The Union further appealed for the completion of processes required for ALUWORKS to bounce back.

According to the statement, these measures would help create jobs for the growing unemployed youth and enable them to contribute meaningfully to the country’s socio-economic development.

Acknowledging the importance of collaboration in enhancing productivity for sustainable economic growth, ICU-Ghana urged employers to adhere to Collective Agreements and Ghana’s Labour Laws, which regulate industrial relations and promote harmony. It also warned anti-union employers who trample on workers’ labour rights to desist from such practices, noting that such actions carry serious consequences.

In wishing Ghanaian workers well during the festive season, ICU-Ghana urged them to remain dedicated and hardworking in order to promote sustainable economic growth and shared prosperity.

Following the International Monetary Fund’s (IMF) proposal to extend Ghana’s bailout programme by three months, economist and Technical Advisor at the Ministry of Finance, Dr. Theo Acheampong, has moved to calm public concerns about the recommendation.

The extension, which would shift the programme’s end date from May 16, 2026, to August 16, 2026, was disclosed in an IMF Staff Report released after the Fund’s Executive Board approved Ghana’s fifth programme review. Dr. Acheampong stressed that the recommendation is purely technical and routine rather than a sign of trouble.

In his analysis, the economist explained that the extension is linked to the sixth and final review of Ghana’s IMF programme scheduled for April 2026. Once successfully completed, Ghana is expected to receive its final tranche of approximately US$360 million, bringing total IMF disbursements since May 2023 to roughly US$3 billion.

Dr. Acheampong clarified that the data used to assess the final review runs through the end of December 2025, but some reforms under the programme require supporting data that arrives later than the cutoff date. This timing gap represents the main reason the IMF is proposing a short extension.

The IMF explained in its report that the extension through August 16, 2026, would help reach an understanding on the policies supporting completion of the sixth review while allowing sufficient time to prepare and circulate Board documents. The adjustment creates enough space for Ghana and the IMF to align fully on remaining policy actions and finalize reform related data.

“This three month technical extension is to complete the final review, as some data points accompanying some of the reforms, which were delayed, come in later,” Dr. Acheampong explained. “Such minor extensions are common in IMF programmes worldwide. There is nothing untoward about this.”

The economist emphasized that the extension does not mean Ghana has failed the programme or is seeking new support. Rather, it represents a routine administrative step aimed at completing the final review properly and avoiding a rushed ending that could undermine the process.

Ghana’s 36 month Extended Credit Facility (ECF) arrangement was approved by the IMF Executive Board in May 2023, providing access equivalent to 303.8 per cent of quota, amounting to Special Drawing Rights (SDR) 2.2419 billion, or about three billion US dollars. Following the successful completion of the fifth programme review, Ghana has received approximately US$2.8 billion.

The IMF assessed programme implementation as broadly satisfactory, noting that all end June 2025 performance criteria and indicative targets were met. Three prior actions were completed ahead of the fifth review, including the audit of 2024 payables, the cleanup of taxpayer registry and ledger data, and the submission of the 2026 budget to Parliament in line with programme objectives.

Beyond the extension, the IMF is also proposing adjustments to Ghana’s programme framework, including revisions to the Indicative Targets (ITs) and the Monetary Policy Consultation Clause (MPCC). The Fund noted that by the end of March 2026, the primary balance and non oil revenue indicative targets will be revised to reflect prevailing macroeconomic conditions while preserving the overall fiscal effort relative to gross domestic product.

Dr. Acheampong’s clarification comes amid concerns that the proposed extension could signal difficulties with the programme. His intervention aims to reassure the public that such extensions are standard practice in IMF programmes across the world, particularly at the final stage of an arrangement when countries need to tidy up outstanding issues.

The economist is allaying fears that the proposed three month extension represents a setback. Instead, he characterizes it as ensuring Ghana closes the programme smoothly, accesses its final funds, and locks in the reforms already undertaken.