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.

 A Tuberculosis (TB) Control Unit Office of the 37 Military Hospital was yesterday inaugurated in Accra to help drastically reduce the rate of TB cases in the hospital and the country as a whole.

The TB office attached to the Public Health Annex office was constructed in collaboration with GAF medical services and Mr Prosper Kwame Appiah, founder of the PK Foundation.

The commander of the 37 Mil­itary Hospital and Acting Deputy Chief of Staff Medical (DCOS MED), Brigadier General Evelyn Vivian Abraham- Kwabiah, inaugu­rated the facility.

Brig Gen Abraham-Kwabi­ah commended the founder of PK Appiah Foundation, Mr PK Appiah for TB office and indicated that it would help in GAF’s fight against TB.

She said that the office would be used for screening, diagnosing and treatment and will ensure quality care to support TB patients.

The officer in charge of the Public Health Division of the hospital, Captain (GN) Harriet Manu, thanked Mr PK Appiah for the gesture and stated that public health played a vital role in pre­venting diseases, promoting health and prolonging lives of people.

She noted that investing in public health helped to reduce healthcare cost, improve quality of life and increase productivity.

In his remarks, Mr Appiah noted that it was a privilege for him to construct the TB Office, saying the construction was his quota to help with the fight against TB to avoid loss of lives.

He disclosed that statistics showed that there were 15,000 cases of TB recorded annually and 4,100 deaths recorded yearly.

Mr Appiah said it was regrettable people lose their lives through TB and could not achieve their dreams.

Present at the programme were staff of the foundation and senior officers of the hospital.

 BY BENJAMIN ARCTON-TETTEY

After years of economic turbulence marked by ballooning debt, cedi depreciation, and waning investor confidence, Ghana is finally witnessing a refreshing reset under the stewardship of the Governor of the Bank of Ghana and the current Finance Minister, Hon. Ato Forson.

The duo has not only brought technical clarity to the management of our monetary and fiscal affairs but has also restored hope, discipline, and stability to an economy once gasping for air.

The signs are clear. Inflation is gradually tapering downward, the cedi is holding its ground against major currencies, and foreign reserves are climbing. Investor confidence is returning, and local businesses are beginning to breathe again.

The Bank of Ghana’s cautious but firm monetary policy stance, combined with the Finance Ministry’s pragmatic fiscal discipline, has laid the groundwork for sustainable growth.

Credit must be given where it is due. The synergy between the Central Bank and the Finance Ministry is perhaps the most coherent we have seen in decades. Dr.Ato Forson and Dr. Asiamah, known for their technocratic approach and clear-headedness, have shown that sound economics is not about dramatic slogans or borrowing for grand vanity projects—it is about focus, credibility, and getting the basics right.

And yes, let us not forget the men who came before—Dr. Amin Adam and Mr. Ken Ofori-Atta. Their tenure reads like a cautionary tale of what happens when you attempt to manage a dynamic, real-world economy strictly by textbook theories—some of which they perhaps skimmed through at best.

With spreadsheets full of hope and forecasts made of dreams, they missed the fundamental truth that economies are not academic case studies; they are lived realities of millions of citizens.

While Ken Ofori-Atta waxed poetic about “homegrown solutions” and “smart borrowing,” the economy was silently hemorrhaging. Dr. Amin Adam followed suit with rhetorical flourishes but little traction. What we got instead was policy acrobatics without real impact and a fiscal path that led us to an IMF negotiating table with cap in hand.

Today, however, the difference is palpable. The economy is being steered not by textbook illusions but by grounded realism.

The current leadership understands the Ghanaian economy not just as a theoretical model, but as a living system that requires smart judgment, timely interventions, and—above all—accountability.

The road ahead remains long, but with steady hands at the wheel, the nation can once again begin to dream—and build—confidently.

–

By: Enyonam Adzo Apetorgbor, CEO, KIPC

When Joel Anyaegbu’s application for a Schengen visa to travel to Barcelona was denied late last year, he was surprised but immediately reapplied. He sent in more documents than were required, including bank statements and proof of property ownership in Nigeria.

He was rejected again.

“The information submitted regarding the justification for the purpose and conditions of the intended stay were not reliable,” read a checklist returned with his passport from the Spanish consulate in Lagos. The 32-year-old gaming consultant said he felt humiliated.

“I had to cancel meetings with partners at the conference I was attending,” he told CNN. “I emailed the embassy to understand why I was denied but it has not been answered to date.”

Anyaegbu’s was among the 50,376 short-stay Schengen visa applications rejected in Nigeria last year, nearly half of all submissions, according to newly released data from the European Commission.

Applicants worldwide pay a non-refundable visa fee of 90 euros (about $100), so Nigerians alone lost over 4.5 million euros (about $5 million) seeking permission to travel to the 29 European countries that make up the Schengen Area.

In total, African countries lost 60 million euros ($67.5 million) in rejected Schengen visa fees in 2024, analysis from the LAGO Collective shows. The London-based research and arts organization has been monitoring data on European short-term visas since 2022 and says Africa is the continent worst affected by the cost of visa rejections.

“The poorest countries in the world pay the richest countries in the world money for not getting visas,” its founder Marta Foresti told CNN. “As in 2023, the poorer the country of application, the higher the rejection rates. African countries are disproportionately affected with rejection rates as high as 40-50% for countries like Ghana, Senegal and Nigeria.” She says this proves “inbuilt discrimination and bias” in the process.

A European Commission spokesperson told CNN that member states consider visa applications on a case-by-case basis. “Each file is assessed by experienced decision-makers on its own merits, in particular regarding the purpose of stay, sufficient means of subsistence, and the applicants’ will to return to their country of residence after a visit to the EU,” the spokesperson said via email.

‘Insufficient reasoning’

Africans have long complained about inconsistent, sometimes baffling decisions about who gets approved or denied while applying for European visas. Cameroonian Jean Mboulé was born in France but when he applied for a visa in 2022 alongside his wife using similar documents, his application was rejected but hers was not.

“At the time she was unemployed but with a South African passport. She had no income but received a visa on the back of my financial statement,” he told CNN. “But the embassy said they refused my application because my documents were fake, and they weren’t sure I would come back to South Africa, where I am a permanent resident, if I went to France.”

The 39-year-old regional executive took legal action in French courts and won, forcing the French embassy in Johannesburg to grant his visa and pay him a fine of 1,200 euros.

He told an administrative tribunal in the French city of Nantes that the embassy’s decision to deny him a visa was “tainted by insufficient reasoning.”

Mboulé pointed out that he had provided sufficient guarantees that he would return at the end of his trip to his wife and daughter in South Africa where he owns a building. After he got the visa, he chose to go to Mauritius instead as he didn’t want to spend his money in France.

The Cameroonian’s case is unique as many Africans denied Schengen visas rarely appeal or contest the decisions in court. Like Anyaegbu, the Nigerian gaming consultant, they often reapply, losing more money in the process. Mboulé has travelled several times to the UK and other African countries but was still denied twice for Schengen.

“The financial cost of rejected visas is just staggering; you can think of them as ‘reverse remittances,’ money flowing from poor to rich countries, which we never hear about,” the LAGO Collective’s Foresti says. Schengen visa fees increased from 80 to 90 euros in July 2024, making it even more expensive for the world’s poorest applicants.

But South African management lecturer Sikhumbuzo Maisela said the visa rejection rates for Africans were lower than he expected. “The visa vetting process seems to be shaped less by outright prejudice and more by historical patterns of behaviour,” he told CNN via email.

“Western countries have had instances where visa holders overstayed or violated terms, and this has influenced how future applications are scrutinized.”

An act of trust

Though he hasn’t conducted formal academic research on the issue, Maisela said Africans should treat visas as an act of trust and hospitality, and observe the rules.

“When one person violates these principles, it impacts all of us,” he said. “It makes it harder for the next applicant — someone who may be fully compliant — to be granted the same opportunity. So, in a way, those who break the rules contribute to the very discrimination others face.”

Younger Africans are the most vocal about visa rejections online but older applicants face similar barriers. Julius Musimeenta, a 57-year-old Ugandan engineer, applied for a visa to attend an engineering fair in Munich last year with his family. All six of them were rejected even though they had all previously traveled to Europe.

“Africans contribute a lot to funding these embassies through these rejections. They always think negatively about us travelling to their countries,” he told CNN. He has three grown-up children who are also engineers and the entire family has a long history of international travel so they were surprised by the blanket denial, he says.

The European Commission said it does not comment on individual cases but EU law allows visa applicants to appeal negative decisions if they feel that the refusal was unjustified.

“The reasons for refusals vary, and include for example the submission of false or forged supporting documents such as bank statements or civil status documents, and weak socio-economic ties to the country of residence and hence a heightened risk of irregular migration,” it said.

While Schengen visa rejections get the most attention due to the large number of countries, African applicants to the UK complain of similar access challenges.

UK visa fees rose from £100 to £115 in July 2024 ($134 to $154) and then to £127 ($170) in April this year. There was a 13.5% spike in the cost of rejected visas to £50.7 million ($68.8 million) in 2024, the LAGO Collective estimates. Nigerians alone paid an extra £2 million trying to travel to their former colonial master, according to its calculations.

After years of economic turbulence marked by ballooning debt, cedi depreciation, and waning investor confidence, Ghana is finally witnessing a refreshing reset under the stewardship of the Governor of the Bank of Ghana, Dr. Johnson Asiama and the current Finance Minister, Cassiel Ato Forson. The duo has not only brought technical clarity to the management of our monetary and fiscal affairs but has also restored hope, discipline, and stability to an economy once gasping for air.

The signs are clear. Inflation is gradually tapering downward, the cedi is holding its ground against major currencies, and foreign reserves are climbing. Investor confidence is returning, and local businesses are beginning to breathe again. The Bank of Ghana’s cautious but firm monetary policy stance, combined with the Finance Ministry’s pragmatic fiscal discipline, has laid the groundwork for sustainable growth.

Credit must be given where it is due. The synergy between the Central Bank and the Finance Ministry is perhaps the most coherent we have seen in decades. Dr.Ato Forson and Dr. Asiamah, known for their technocratic approach and clear-headedness, have shown that sound economics is not about dramatic slogans or borrowing for grand vanity projects—it is about focus, credibility, and getting the basics right.

And yes, let us not forget the men who came before—Dr. Amin Adam and Mr. Ken Ofori-Atta. Their tenure reads like a cautionary tale of what happens when you attempt to manage a dynamic, real-world economy strictly by textbook theories—some of which they perhaps skimmed through at best. With spreadsheets full of hope and forecasts made of dreams, they missed the fundamental truth that economies are not academic case studies; they are lived realities of millions of citizens.

While Ken Ofori-Atta waxed poetic about “homegrown solutions” and “smart borrowing,” the economy was silently hemorrhaging. Dr. Amin Adam followed suit with rhetorical flourishes but little traction. What we got instead was policy acrobatics without real impact and a fiscal path that led us to an IMF negotiating table with cap in hand.

Today, however, the difference is palpable. The economy is being steered not by textbook illusions but by grounded realism. The current leadership understands the Ghanaian economy not just as a theoretical model, but as a living system that requires smart judgment, timely interventions, and—above all—accountability.

The road ahead remains long, but with steady hands at the wheel, the nation can once again begin to dream—and build—confidently.

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DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.

Ghana’s local currency, the cedi, has extended its upward momentum on the interbank market, registering sharp gains against major trading currencies, most notably the US dollar.

As of the close of trading at 5:00 PM on Friday, May 23, 2025, the Ghanaian cedi was trading at approximately GH¢10.50 to the US dollar, according to Bloomberg data sighted by GhanaWeb Business.

This represents a significant appreciation from earlier in the month, when the cedi was exchanging at around GH¢15.31 per USD.

The Bank of Ghana’s official interbank mid-rate for the same day stood at GH¢10.9500 per USD.

The cedi’s strong recovery has come amid tighter monetary policy conditions and renewed investor confidence.

On Friday, May 23, 2025, the Bank of Ghana (BoG) maintained its monetary policy rate at 28%, signaling its continued commitment to inflation control and macroeconomic stability.

This decision reflects the central bank’s view that underlying inflationary pressures are easing, supported by a more stable exchange rate and a reduction in imported inflation.

Speaking at a press briefing on Friday, Governor of the Bank of Ghana, Dr Johnson Asiama, pointed to several contributing factors behind the cedi’s rebound.

These include improved foreign exchange inflows, possibly from gold and cocoa exports, remittances, and multilateral support, as well as regulatory measures aimed at curbing speculative demand in the FX market.

The BoG has reiterated its focus on anchoring inflation expectations and ensuring a gradual build-up of foreign exchange reserves.

Meanwhile, if sustained, the cedi’s recent performance could ease inflationary pressures in the near term and provide room for future policy adjustments.

MA

Ghana’s local currency, the cedi, has extended its upward momentum on the interbank market, registering sharp gains against major trading currencies, most notably the US dollar.

As of the close of trading at 5:00 PM on Friday, May 23, 2025, the Ghanaian cedi was trading at approximately GH¢10.50 to the US dollar, according to Bloomberg data sighted by GhanaWeb Business.

This represents a significant appreciation from earlier in the month, when the cedi was exchanging at around GH¢15.31 per USD.

The Bank of Ghana’s official interbank mid-rate for the same day stood at GH¢10.9500 per USD.

The cedi’s strong recovery has come amid tighter monetary policy conditions and renewed investor confidence.

On Friday, May 23, 2025, the Bank of Ghana (BoG) maintained its monetary policy rate at 28%, signaling its continued commitment to inflation control and macroeconomic stability.

This decision reflects the central bank’s view that underlying inflationary pressures are easing, supported by a more stable exchange rate and a reduction in imported inflation.

Speaking at a press briefing on Friday, Governor of the Bank of Ghana, Dr Johnson Asiama, pointed to several contributing factors behind the cedi’s rebound.

These include improved foreign exchange inflows, possibly from gold and cocoa exports, remittances, and multilateral support, as well as regulatory measures aimed at curbing speculative demand in the FX market.

The BoG has reiterated its focus on anchoring inflation expectations and ensuring a gradual build-up of foreign exchange reserves.

Meanwhile, if sustained, the cedi’s recent performance could ease inflationary pressures in the near term and provide room for future policy adjustments.

MA

play videoMobile Money transactions hit a record high of GH¢365 billion in April 2025

Ghana’s mobile money sector reached an all-time high in April 2025, with transactions totaling GH¢365 billion, according to the latest Bank of Ghana report.

This marks a 3.8% increase from March’s GH¢351.7 billion and reflects growing confidence in and usage of digital financial services across the country.

The sharp rise follows the repeal of the Electronic Transfer Levy (E-Levy) in March, which experts believe played a major role in encouraging more high-value transfers.

The total number of transactions also rose from 764 million in March to 778 million in April, signaling sustained user activity and trust in the platform.

April also saw an increase in active mobile money accounts to 24.2 million, while registered accounts grew to 75.2 million. Interoperability transactions, transfers across different networks, climbed to GH¢4.0 billion, up from GH¢3.2 billion the previous month.

Analysts point to expanding mobile penetration, user convenience, and improved digital literacy as key drivers.

With its growing reach, mobile money is increasingly seen as a tool for deepening financial inclusion, especially in rural and underserved areas.

Vice Presidential candidate for the Movement for Change in the 2024 elections, Kwame Owusu Danso

Vice Presidential candidate for the Movement for Change in the 2024 elections, Kwame Owusu Danso, Esq., has slammed critics, particularly members of the opposition New Patriotic Party (NPP) who have questioned the use of a private jet by Vice President Prof Naana Jane Opoku-Agyemang.

Some NPP members, including the Member of Parliament for Old Tafo, Vincent Ekow Assafuah, have criticised the Mahama-led National Democratic Congress (NDC) government for what he described as extravagant spending in the face of national hardship.

According to him, Vice President Professor Naana Jane Opoku-Agyemang returned from a medical trip to the United Kingdom on Thursday, May 22, aboard a luxury chartered VistaJet that cost the country over $170,000.

Assafuah made the claim in a post on social media, citing the country’s erratic power supply, lack of medical equipment in hospitals, and ongoing strike actions by university lecturers as more pressing areas that deserve funding.

“While students study by candlelight, lecturers are on strike, and hospitals lack gloves, Ghana’s Vice President touched down from London on a VistaJet, a luxury chartered flight,” he wrote.

“Cost? Over $170,000 (20 billion old cedis). This is enough to:

Pay 250 striking university staff for a month.

Complete a CHPS compound or stock a hospital pharmacy for a year.

Fund electricity for 50 SHSs for a whole term.

Buy 150,000 exercise books for basic schools.”

Responding to the accusations by the NPP during a panel discussion on Pan Africa TV, Kwame Owusu Danso, Esq., dismissed the criticism, questioning whether the NPP expected the Vice President to arrive in the country using a commercial vehicle.

“Let’s talk about the propaganda some people in the NPP have been pushing—that she flew in with a private jet. I wonder if they wanted her to fly in with an STC bus. I wonder if they expected the Vice President to return home to us in an OA bus or a Sprinter. I wonder. She is the Vice President, for crying out loud.

But when you were in government, you had people flying abroad just to watch Arsenal and Manchester [United] play. One weekend, they would fly in and fly out. Are those people more human than the Vice President?

We had people who flew out to buy pizza and returned the same day. They would charter a plane, fly out to buy pizza, and then come back to Ghana. And those people—are they more human than the Vice President of the Republic of Ghana?

Ghanaians, we don’t respect. Did we expect her to come in a trotro? What is this?” Kwame Owusu Danso, Esq., who is the husband of Ama Pratt, spokesperson to the Vice President, questioned.

Was the vice president supposed to return home with an STC Bus??? I wonder…. pic.twitter.com/fdgat8EByE

— kwame Owusu Danso, Esq. (@kwameowusud) May 23, 2025

KA

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The Monetary Policy Committee of the Bank of Ghana has maintained the policy rate at 28 per cent, citing risks to inflation.

At a media briefing to announce the rate, Dr Johnson Asiama, the Governor of the Bank of Ghana, said the Bank’s latest forecast pointed to continued easing of inflationary pressures on the back of tight monetary policy stance, exchange rate stability, and fiscal consolidation. 

Headline inflation has declined in the first four months of the year by 2.6 percentage points to 21.2 per cent in April 2025, driven by both food and non-food inflation. 

A confluence of factors, including tight monetary policy stance, stepped-up liquidity sterilization efforts, downward revisions in ex-pump petroleum prices, and exchange rate stability have supported the gradual decline in inflation.

He said inflation was expected to ease faster towards the medium-term target in the first quarter of 2026 as opposed to the second quarter as earlier envisaged, barring unanticipated shocks.

He said the Bank was targeting inflation to end the year at 12 per cent.

“Despite these positive developments, the Committee observed that the current level of inflation remains high relative to the medium-term target and will require maintaining the tight stance to reinforce the disinflation process,” Dr Asiama said.

“Under the circumstances, the Committee, by a unanimous decision, maintained the policy rate at 28.0 per cent,” he added.

On the performance of the cedi, the Governor said the cedi had rebounded strongly against the major trading currencies driven by a combination of factors, including tight monetary policy stance, ongoing fiscal consolidation, record reserve accumulation, strict enforcement of foreign exchange market rules, and improved market sentiment. 

In the year to May 21, 2025, the cedi had appreciated against all the major currencies -24.1 per cent against the US dollar, 16.2 per cent against the British pound, and 14.1 per cent against the euro.

He said the Central Bank would do everything to ensure the stability of the cedi going forward.

Dr Asiama said the external sector continued to improve, with a record provisional current account surplus of $2.1 billion in the first quarter of 2025, driven mainly by higher prices and increased production volumes of gold and cocoa, and strong remittance inflows. 

The current account surplus, together with net outflows in the capital and financial account, resulted in an overall Balance of Payments surplus of $1.1 billion, he said.

The strong external performance resulted in significant reserve accumulation with Gross International Reserves (GIR) at $10.7 billion in April 2025, equivalent to 4.7 months of import of goods and services. 

Source: GNA