Ghana’s President, John Dramani Mahama, has identified Solana, a high-performance blockchain network, as a potential game-changer for fintech growth and cryptocurrency adoption across Africa.

In a recent social media post, Mahama stressed the importance of financial inclusion across the continent and pointed to Solana’s low transaction costs as a key driver for enabling cryptocurrency payments and investments. 

He stated, “Financial inclusion isn’t just a need for Ghana—it’s essential for all of Africa. With its low transaction costs, #Solana could be the key to driving fintech growth and enabling cryptocurrency payments & investments across the continent.”

Solana is a blockchain platform designed for fast and scalable decentralised applications. Unlike traditional blockchains such as Bitcoin and Ethereum, which often struggle with high fees and slow transaction speeds, Solana offers lightning-fast processing times and significantly lower costs, making it an attractive option for financial services and payments. 

The network’s unique proof-of-history (PoH) consensus mechanism allows for thousands of transactions per second, positioning it as a viable alternative for African fintech solutions.

Mahama’s endorsement of Solana aligns with his broader vision for Africa’s digital revolution. 

Speaking in an accompanying video, he highlighted how technology can help Africa bypass traditional development hurdles. He said, “The Fourth Industrial Revolution presents a golden opportunity for Africa to leapfrog traditional development models. We don’t need to go back to inventing the wheel. Digital transformation can drive financial inclusion, improve public service delivery, and create new opportunities for all our people.”

He further called for investments in internet expansion, digital infrastructure, fintech, and research and development to bridge the digital divide and make Africa more competitive. 

His comments come at a time when Ghana’s central bank is working to regulate the country’s cryptocurrency market. In August last year, the Bank of Ghana (BoG) issued draft regulations aimed at formalising oversight for digital assets.

These proposed guidelines include registration requirements for Virtual Asset Service Providers (VASPs), anti-money laundering compliance measures, and stronger internal controls for consumer protection. Additionally, the BoG is pursuing its own central bank digital currency, the eCedi, which was first announced in 2021 as part of Ghana’s digital finance innovation push. 

Authorities, however, continue to caution against the volatility of cryptocurrencies, urging investors to be mindful of sharp price fluctuations.

Mahama’s remarks signal growing interest in blockchain technology as a tool for economic transformation in Africa.

By Samira Larbie

Accra, March 14, GNA – Mr Labram Musah, the National Coordinator of the Ghana NCD (Non-Communicable Diseases) Alliance, has advised Ghanaians to take good care of their kidneys to prevent diseases. 

He said the kidneys were vital organs and played a critical role in the lives of humans and, as such, the need to prevent diseases that affected their normal functioning.  

Mr Musah gave the advice during a media interaction to commemorate the 2025 World Kidney Day.  

“A lot of people must do things for themselves. You must own your health. People must regularly check and know the status of their kidneys,” he added. 

He said that was important to ensure early detection and prevent end-stage kidney diseases. 

The World Kidney Day is observed annually on the second Thursday of March, seeking to raise awareness about kidney health and the importance of early detection and prevention of diseases. 

The 2025 World Kidney Day, observed on Thursday, March 13, is on the theme; “Are Your Kidneys Ok? Detect Early, Protect Kidney Health,” highlighting the need for early detection and timely intervention in prevention and management of the disease. 

The kidneys are vital organs that filter waste and excess fluid from the blood, maintain electrolyte balance, regulate blood pressure, and produce hormones that control red blood cell production and vitamin D activation. 

In Ghana, the prevalence of chronic kidney disease is estimated at 13.3 per cent, with chronic glomerulonephritis, diabetes mellitus, and hypertension being the major causes.  

Mr Musah said alcohol intake and smoking were also the major risk factors of kidney diseases apart from hypertension and diabetes. 

He advised the public to be mindful of what they consumed and always ensure that it was not harmful to their health.   

He called on the Government to put in place health promotion measures such as awareness creation to decrease the infection rate of the disease. 

Mr Kojo Ahenkorah, President of the Renal Patients Association, told the Ghana News Agency that kidney disease “is not something to joke about” and encouraged the public not to engage in self-medication. 

He said buying medicines over the counter without prescription was dangerous as it could lead to kidney diseases. 

He called for healthy lifestyles and regular check-ups, at least once a year for early detection and treatment.  

GNA 

Each year, Ghana loses an estimated $1.4 billion due to illicit financial flows

GhanaWeb Feature by Mawuli Ahorlumegah

Each year, Ghana loses an estimated $1.4 billion due to illicit financial flows, a staggering figure that continues to deprive the nation of critical resources for development.

According to the Tax Justice Network Africa (TJNA), the country is among those hemorrhaging significant revenue due to tax evasion, excessive tax exemptions, and systemic inefficiencies within its tax system.

At a recent summit of the African Parliamentary Network on Illicit Financial Flows and Taxation, held in Ghana, experts painted a grim picture of how these financial outflows are draining Africa’s economic potential.

Speaking to the media in June 2024, Francis Kairu, Strategic Programmes Director at TJNA, highlighted how multinational corporations and weak tax enforcement mechanisms contribute to the country’s revenue losses.

“Our governments must also acknowledge that the problem is a major issue, and I think the biggest challenge in our generation now is the issue of illicit financial flow,” Kairu stated.

“Ghana is one of the countries that losses the most because you have natural resources, you have a huge population that is being taxed. You also have multinational companies in this country, and you are losing over $1.4 billion every year to the activities of these multinationals and illicit financial flows. Ghana is one of the countries that grant tax exemptions and tax holidays every other day,” he added.

This issue extends beyond Ghana. A report from the United Nations Conference on Trade and Development (UNCTAD) estimates that Africa as a whole loses nearly $89 billion annually through illicit financial flows.

The report even described the continent as a “net creditor to the world,” highlighting the irony that, while Africa remains heavily reliant on foreign aid, it simultaneously loses far greater sums through capital flight and tax abuse.

Experts argue that much of these losses stem from the export of commodities like gold, diamonds, and platinum, where companies under-declare the value of their exports to minimize tax obligations.

Some businesses are also accused of falsifying financial records, mispricing goods in trade transactions, and engaging in transfer pricing manipulation to shift profits to lower-tax jurisdictions.

For Ghana, the consequences of these losses are severe. The country faces mounting debt and budget deficits, making it increasingly difficult to fund essential services such as education, healthcare, and infrastructure.

While policymakers continue to discuss reforms, stakeholders believe that stronger tax laws and better enforcement mechanisms are needed to curb illicit flows and retain more of Ghana’s wealth within its borders.

The battle against illicit financial flows is not just an economic challenge; it is a fight for national sovereignty, sustainable development, and financial justice.

But the question remains; how long can Ghana afford to lose billions before decisive action is taken?

MA