play videoMinister of Finance, Dr Cassiel Ato Forson

The Minister of Finance, Dr Cassiel Ato Forson, has stated that the governing National Democratic Congress (NDC) will spend within its budget, ensuring financial prudence.

Speaking on the floor of Parliament on Tuesday, June 3, 2025, he asserted that the government has ended the era of reckless spending which took place under the Akufo-Addo government.

He further said government will not overborrow at the expense of Ghanaians.

“I wish to state for the record that it is not true that the government is not spending. Mr. Speaker, we have ended the era of reckless spending. We are spending wisely and prudently. The era of recklessness has come to an end, and the NDC will not spend recklessly. We will spend according to what we have.

“If you do not have the funds, do not overborrow, because excessive borrowing leads to financial distress. We have stopped this practice. Mr Speaker, we will not overborrow. We will spend within the budget and do what is necessary,” Ato Forson emphasised.

The finance minister’s remarks follow claims by the Minority in Parliament that the appreciation of the cedi can be attributed to the government’s reduced spending.

The local currency has appreciated in recent times, with the dollar selling at GH¢10.25 on the interbank market.

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SA/AE

Azamati (L) and Saminu raced together in Paris 2024

Former national sprint champion, Benjamin Azamati, has responded with pride and encouragement after Abdul-Rasheed Saminu shattered his long-standing 100m national record with a blistering run of 9.86 seconds at the NCAA East Preliminary Round.

The University of South Florida sprinter did not only eclipse Azamati’s 2022 record of 9.90 seconds but also became the fastest man in the world this year, edging closer to NCAA history and stamping his ticket to the 2025 World Athletics Championships in Tokyo.

Reacting to the news on Sporty FM, Azamati, who had been Ghana’s sprint king for three years, said he’s proud to see the bar being raised and believes it’s a reflection of the growing talent in the country.

“Records are meant to be broken, and it just goes to show the level of talent we have in Ghana,” he said.

While many would feel disappointed to lose a record, Azamati views it as a moment of motivation and evolution for Ghanaian athletics.

He also emphasised that competition should always be rooted in excellence and a shared desire to uplift the country on the world stage.

“I’m just proud of the role I played in raising the standards, and seeing someone step up will motivate me. It’s just about performing at the highest level and representing the country with excellence,” he added.

Saminu’s time of 9.86 seconds not only broke Ghana’s national record but also placed him just 0.04 seconds behind Christian Coleman’s all-time NCAA mark of 9.82.

His sensational form now places him among the top contenders heading into the World Championships this September.

Interestingly, Saminu credits a conversation with Azamati as part of the fuel behind his achievement.

In an interview with 3Sports, he revealed that he spoke to Azamati who pushed him for the record.

“Me and Azamati talked about it. I said I need to break your record this year. He was like, go for it. If you really want it, go for it. So, I was like, okay, I’m ready,” he recalled.

FKA/EB

Watch as Techiman Eleven Wonders crowned 2025 Division One League Champions

Major confectionery companies including Mars, Mondelez, Lindt, Ferrero, Barry Callebaut and Tony’s Chocolonely, are among enterprises contributing to a $80 million grant to improve Ghana’s education system, writes Neill Barston.

The Ghanaian Ministry of Education has secured the latest funding from a combination of private, and multilateral partners to improve access to education for all school children nationwide.

According to local sources, this will be combined with an additional US$38.8 million from the Early Learning Partnership Multi-Donor Trust and GPE, the funding will aim to drive improvements in foundational learning, including raising basic literacy and numeracy rates amongst primary-level school children and supporting their emotional and social wellbeing.

As Confectionery Production has previously covered, the topic of educational provision in the region remains of huge significance, with rates of school attendance have reportedly significantly improved within the past decade in both Ghana and neighbouring Ivory Coast’s cocoa communities increasing.

However, there remains a notable issue of child labour remaining with the industry, with the most recent figures from the International labour organisation stating that 1.5 million minors are still subject to the worst forms of labour – so providing access to education and wider community support measures is of crucial importance.

The project partners, known as SCALE, was created to support lasting improvements across Ghana’s education system by embedding local leadership, data-driven decision-making, and a holistic focus on children’s learning and wellbeing. In addition to expanding GALOP, it introduces new structures—such as Ghana Education Evidence and Data Lab (GEEDLab) and the Communities of Excellence—to effect lasting, system-wide change.

A consortium of over 10 philanthropic and private partners have reportedly raised US$40 million of that total amount to support the expansion of GALOP, Ghana’s flagship education program. GPE matched the consortium’s funding by providing a further US$40 million.

The US$80 million—the largest amount ever raised for education amongst philanthropies and private companies—forms part of an additional financing mechanism for GALOP, which now totals US$118.8 million, and will be administered by the World Bank as the Grant Agent.

Since 2020, GALOP has successfully invested US$218.7 million in targeted districts in Ghana. Over the next four years, this new tranche of funding will increase the total number of schools that are set to benefit from 10,000 to 16,000, plus a further 14,700 kindergartens.

Funds will support targeted, evidence-based interventions that will improve learning resources, teaching quality, and strengthen governance structures. These interventions will transform the approach to local schooling, sub-national planning, and national policymaking across Ghana to improve children’s learning.

Hon. Haruna Iddrisu, Minister of Education, Republic of Ghana said: “This is an opportunity for us. With a shared vision, a shared partnership, and a shared innovative financing for education. And it could not have been done at a better time.” He continued by saying, “Ghana has every reason to celebrate the impact made under the investment of GALOP, and SCALE is an extension of this.”

As the collective group added, its overall ambitions are centred on reform of how education is structured and delivered in Ghana, through enhancing practice to encourage a child-focused approach to further drive standards upwards within the region.

Related content

Reduction in transport fares contributed to the inflation drop in May

Inflation for May 2025 has dropped sharply to 18.4% from 21.2% recorded in April 2025.

This means that prices of goods and services increased by 18.4% last month.

The Ghana Statistical Service said the decline in inflation is due to the reduction in transportation fares and a decline in non-food inflation.

Government Statistician, Dr Alhassan Iddrisu, said the drop can also be attributed to the reduction in fuel prices at the pumps and the subsequent reduction in transport fares.

These were the main drivers of inflation in May. At the regional level, Dr. Iddrisu said the Upper West recorded the highest inflation of 38.1%, while the Ahafo region recorded the lowest inflation of 14.5%.

Since the beginning of the year, inflation has continued on a downward streak as the economic indicators have strengthened.

This is the lowest rate recorded since March 2022.

SSD/MA

The government has disbursed GH¢987.96 million to the District Assemblies Common Fund (DACF) as the first quarter allocation for 2025, the Minister of Finance, Dr Cassiel Ato Forson, has told Parliament.

The disbursement, he said, underscored the government’s renewed commitment to fiscal decentralisation and the empowerment of Metropolitan, Municipal and District Assemblies (MMDAs) across the country.

He stated further that the amount had already been transferred from the Consolidated Fund to the DACF Administrator and would be governed by strict Cabinet-approved guidelines to ensure transparency and alignment with national development goals.

Breakdown

Briefing parliament on the development yesterday, Dr Forson, who is also the Member of Parliament (MP) for Ajumako-Enyan-Esiam, disclosed that Cabinet had approved detailed expenditure categories to guide how the disbursed funds were spent at the local level.

He explained that 25 per cent of the total amount was earmarked for the design and construction of a model market in each district while health infrastructure would receive 10 per cent of the funds, with a minimum of two health compounds to be constructed in rural assemblies.

Dr Forson also said another 10 per cent had been set aside for educational infrastructure, specifically the construction of a kindergarten block, a primary school block and a junior high school block in each district.

“Mr Speaker, again, we have earmarked 10 per cent of the amount that will be sent directly to the Assemblies for the provision of school furniture,” he added.

In the area of water and sanitation, the Finance Minister said 10 per cent was allocated to provide potable water, including at least 10 boreholes in rural assemblies.

Additionally, he said 20 per cent of the released amount was to be used to complete abandoned and uncompleted legacy projects initiated by the former regional development authorities — Middle Belt, Coastal and Northern Development Authorities.

Dr Forson, however, stated that administrative costs, monitoring and evaluation had been capped at five per cent to prevent the misuse of funds. 

Accountability

The Ajumako-Enyan-Esiam legislator stated that under the new directive, the Administrator of the DACF was mandated to ensure that not less than 80 per cent of the amount was transferred directly to the district assemblies without fail.

He added that assemblies were required to submit detailed expenditure returns to the Ministry of Finance before subsequent quarterly disbursements were made.

Dr Forson said the release of funds marked a turning point after years of erratic disbursements that undermined the effectiveness of local governments.

He pointed out that between 2017 and 2024, only 40 per cent to 50 per cent of DACF allocations were actually transferred to the assemblies, leaving MMDAs under-resourced and unable to meet the development needs of their communities.

The current administration, he assured, was determined to reverse that trend.

“We are committed to adequately resourcing MMDAs and ensuring that effective and accountable utilisation of these resources is maintained at all times,” he said.

Revitalising local development

Dr Forson said the total DACF allocation for the year 2025 stood at GH¢7.57 billion, out of which GH¢6.1 billion — representing 80 per cent — would be disbursed directly to the assemblies to spur local economic activities.

“Mr Speaker, in view of that, every District Assembly will receive a minimum of GH¢25 million this year,” he explained.

“Let us work together to strengthen the Metropolitan, Municipal and District Assemblies and position them as engines of local economic development,” Dr Forson urged his fellow MPs.

He further encouraged MPs to monitor the implementation of the spending guidelines within their constituencies to ensure that the intended development outcomes were achieved.

The Gallant Cadres of the National Democratic Congress have issued a statement appealing to Ghanaians to bear with the government by paying the Gh¢1.00 fuel levy to help alleviate the energy sector burden.

In a release issued and signed on Wednesday, 4th June, 2025, by Mr. E. A. Sarpong, popularly called Father Casford, it averred that, judging from the current debilitating energy sector debt, “it’s the most rational decision by government to impose Gh¢1.00 levy on each litre of fuel purchased to help us settle our debt”, they stated.

The Cadres contend that Gh¢1.00 fuel levy is not the same as 1% E-Levy. The current increment on fuel is an insignificant constant of Gh¢1.00, while 1% E-Levy varies in the amount charged, depending on the amount of the transaction involved. “In percentage terms, as the amount increases, the percentage-based deduction grows, while Gh¢1 remains an insignificant constant,” the release emphasized.

In a bid to placate the fears of Ghanaians, they revealed that the recent gains of the Ghanaian currency against major trading currencies, arising from the prudent management of the economy, would mitigate the increase in fuel prices.

The release concluded by urging all Ghanaians, as a patriotic duty, to support the government during these difficult times to better the lot of Ghanaians in the near future. “We, the Gallant Cadres of the NDC, wish to appeal to all well-meaning Ghanaians to bear with the government as it tries to navigate this difficult labyrinth of energy sector debt,” the release ended.

Below is the full press release:

Press Release

To All Media Houses

The Gallant Cadres of NDC

0208573712

0243179445

0542002741

0546572070

We Welcome The GH1 Levy On Every Liter of Fuel to Offset Disturbing Energy Sector Debt.

The decision by the Government of Ghana to impose a Gh 1. 00 on every litre of petrol purchased at the pumps is a rational one which in the long run help us settle the debilitating Energy Sector debt overhang.

Truth is that Ghc1.00 is not the same as 1%. Deducting Gh 1.00 from Gh1,000 = Gh 999, and 1% of Gh 1,000 is Gh 10.00, thus giving you ¢990. In percentage terms, as the amount increases, the percentage-based deduction grows, while 1ghc remains an insignificant constant. This is nothing like E-levy! The Energy-sector debt left by NPP government can be described be crazily humungous!!

It is important to note that, the ¢1.00 increase in the Energy Sector Levy(ESLA) Act, has become necessary due to mounting and unsustainable debt accrued in the energy sector over the previous 8 years under the NPP.

A financing shortfall of about $3.7billion (over GH¢40 billion) hangs over the sector with an estimated $ 1.2 billion (GH¢13 billion) needed annually to purchase liquid fuels to power thermal plants for energy generation.This amount is not factored into the pricing of electricity, making it unsustainable going forward.

The GH¢1 increase in ESLA means that an amount of GH¢5.7 billion will be realised every year to ease the liquid fuel burden. If liquid fuel is factored into electricity pricing, it will result in a 50% increase in electricity prices making the ESLA increment a better and cheaper alternative.

The timing of the increase means that fuel prices will still remain lower than in the May pricing window due to the continuous appreciation of the cedi against the dollar and other major trading currencies.

Fuel prices have moved from about GH¢16 in January to under GH¢12 cedis due to gains made from the prudent management of the economy. With the increase in ESLA fuel prices would be cheaper or at par with what inherited.

Accrued funds from the increase will be used judiciously to purchase liquid fuels to guarantee constant supply of electricity and ensure that dumsor does not recur.

The current price for a liter of petrol (Super XP) in Ghana is GH₵14.34, according to GOIL PLC. Diesel (Diesel XP) is priced at GH₵12.98 per liter. The new tax of GH₵1 per litre is between 7% to 7.7%.

We, the Gallant Cadres of the NDC wish to appeal to all well meaning Ghanaians to bear with government as it tries to navigate this difficult labyrinth of energy sector debt.

Comrade Richard E A Sarpong, Father Casford. The PRO, 0208573712

Ohemaa Akosua Borngreat, Deputy PRO, 0243179445

Mr F Kadan, Secretary, 0242276044

Eric Nana Tekye, Deputy Secretary, 0546572070

Carrick Kpeglo, Chairman. 0542002741

Dr Steve Manteaw is the Co-Chair of GHEITI

The Co-Chair of the Ghana Extractive Industries Transparency Initiative (GHEITI), Dr Steve Manteaw, has raised a red flag over the government’s proposed amendment of the Energy Sector Levy, warning that the move could have unintended consequences on the economy and consumers.

Parliament on Tuesday, June 3, 2025, approved the Energy Sector Levy (Amendment) Bill 2025, which introduces a GH¢1 increase on the levy on petroleum products.

The measure is expected to generate an additional GH¢5.7 billion in revenue to help reduce energy sector debts and ensure stable power supply.

In a post on his Facebook page on Wednesday, June 4, 2025, and sighted by GhanaWeb Business, Dr Manteaw noted that the amendment lacks strong accountability framework, stating that the levy could lead to an increase in transport fares and food prices, undercutting the government’s efforts to stabilise the economy.

According to Dr Mateaw, the proposed levy’s charge of Ghc1 per litre of fuel is “too onerous” for consumers, suggesting instead, a charge per gallon or a reduced rate of 25 pesewas per litre to minimise its economic impact.

He also called for a sunset clause to prevent the levy from becoming a permanent fixture, citing the long-standing TOR Debt Recovery Levy as a cautionary example.

As an alternative, Dr Manteaw proposed leveraging recent economic gains such as the cedi’s resurgence and rising gold and cocoa prices, to help reduce energy sector debt without shifting the burden onto consumers.

His remarks fall on the back of intensified public debate over how best to resolve the financial challenges in Ghana’s energy sector without increasing hardship for ordinary citizens.

Below is Dr Steve Manteaw’s take on the proposed amendment of the Energy Sector Levy

1. Well intended, but lacks strong accountability mechanism. This exposes it to potential abuse, including misapplication.

2. May adversely affect transport fares and food prices, undermining government’s call on traders to reduce prices.

3. Too onerous for consumers if placed on a litre of petroleum products. Should rather be placed on a gallon, or reduced to 25p per litre to moderate its effect on cost of living.

4. Provide a sunset clause, so that, it does not assume a perpetual character, like the TOR debt Recovery Levy.

5. Maybe, we should leverage on the gains from the Cedi’s resurgence and rising gold and cocoa prices to defray part of the energy sector indebtedness.

SP/VPO

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By Kamal Ahmed  

Somanya(E/R), June 4, GNA – Henry Djaba Memorial Foundation (HDMF) has marked an important milestone with its inaugural Alumni Homecoming and Graduation Ceremony in Somanya in the Eastern Region, honouring the accomplishments of 57 alumni and welcoming eight new graduates.  

The two-event held simultaneously highlighted the Foundation’s unwavering commitment to empowering vulnerable girls and persons with disabilities through vocational training and personal development.  

As part of its mission to foster economic independence and social inclusion, HDMF continues to equip many individuals with skills that enhance their livelihoods.  

The celebration served not only as a recognition of resilience and determination but also as a testament to the Foundation’s dedication to creating opportunities for marginalized groups.  

Addressing the gathering, Executive Director of HDMF, Dr. Otiko Afisah Djaba, inspired both the graduates and fresh students in a powerful message, urging them to pursue their dreams with confidence and resolve. 

“There is no perfect time. The perfect time is now,” she said, encouraging them to overcome poverty and social exclusion through self-belief, perseverance, and discipline. 

The graduates, who received training in fashion design, cosmetology, and jewelry-making, were commended for their dedication, discipline, and hard work. 

Dr. Djaba emphasized the importance of turning challenges into opportunities and urged the youth to become agents of change in their various communities. 

“You are a gift to yourself, your family, and your community,” she noted. “Step into the future with courage.” 

Guest speaker Israeli Ambassador to Ghana, Liberia, and Sierra Leone, Mr. Roey Gilad, also addressed the ceremony. 

He encouraged the grandaunts to break barriers and always strive for excellence, citing Golda Meir, Israel’s first female prime minister, as an example of what determination can achieve. 

“If you encourage yourselves, you will become great people of substance,” he stated. “I believe women can lead change across the world, especially here in Africa and in Ghana.” 

He acknowledged the struggles many women, particularly those with disabilities, face in society and emphasized their critical role in Africa’s transformation. 

“It’s not easy to be a woman anywhere in the world, and even more so in Africa,” he added. “But women, especially those who defy the odds, will be the driving force of change.”  

A past student, Ms. Vivian Delali, shared her testimony, crediting the HDMF training centre for helping her achieve her dream of becoming a cosmetologist, stating that  

“Without the training, I wouldn’t be a tutor and a hairdresser today,” 

Ms. Hannah Abena Blessing Nyame, who was named the overall best student, attributed her success to resilience and hard work.  

She encouraged young girls to take advantage of similar opportunities, adding: “Skills training can change your life. Do not depend on others but empower yourself.” 

Several Chiefs, Assembly members, religious leaders, heads of department from both private and state institutions participated in the event.  

GNA 

Edited D.I. Laari/Kenneth Odeng Adade 

A massive $2.5 billion project by Sentuo Building Materials Complex, an initiative under the government’s Big Push programme, has stalled due to a dispute with squatters on the site.

The company has faced significant setbacks in its bid to develop the proposed site it acquired seven years ago, which is located at Ashaiman along the Tema-Accra Motorway.

The complex is for the manufacture of a tall list of building materials as well as training fabricators and companies in the built environment.

The Sentuo Building Materials Complex aims to leverage China’s industrial and technical expertise in building materials to create a cutting-edge industrial model designed to create over 25,000 direct and indirect jobs.

Already, the company’s parent, Sentuo Group, has invested massively in the country, with projects, including the Sentuo Steel, Sentuo Ceramics and Sentuo Petroleum Refinery, all located in Tema in the Greater Accra Region.

The latest project, proposed to occupy 390,000 square metres, approximately two kilometres, features five key platforms: a trading platform, grade evaluation platform, logistics platform, a manufacturer storage platform, and management and after-sales platform.

Additionally, it will have a central hub where manufacturers, merchants and consumers can interact.

There will also be recreational and play areas.

The Technical and Group Corporate Affairs Director of Sentuo Building Materials Complex, Benjamin Gomado-Cobblah, told the Daily Graphic that the company had made several attempts to evict the squatters through the Tema Development Corporation (TDC) and the Ashaiman Municipal Assembly, but without success.

“We have made several attempts to evict them through the TDC and the Ashaiman Municipal Assembly since we acquired the land seven years ago, but without success,” Mr Gomado-Cobblah said.

“In fact, the Ashaiman Municipal Assembly had offered them a land near the Zoomlion’s treatment plant after the TDC had initially offered them a stretch of land near the Tema Motorway,” he added.

Mr Gomado-Cobblah explained that the project was not only expected to cater for the country’s industrial needs, but also be a major export hub to other West African countries.

This giant manufacturing hub will attract many manufacturing companies to the country, providing a much-needed boost to the country’s development agenda.

“Because of this project, many manufacturing companies are going to come to Ghana,” Mr Gomado-Cobblah said.

“Indeed, it is going to be a catalyst to attract many manufacturing companies to Ghana, which is what is needed at this point in time in Ghana’s development agenda,” he added.

Job opportunities

The squatters, mostly scrap dealers, have rejected all offers, delaying the project’s take-off. With over 25,000 potential direct and indirect jobs hanging in the balance, the project’s progress remains uncertain.

Its promoters believe the project will be a game-changer for the economy. Its strategic location near Tema Port makes it an ideal hub for the distribution of building materials in Africa.

As part of the initiative, Sentuo plans to build Special Economic Zones (SEZs) across Ghana, providing a conducive business environment for investors.

The SEZs will offer state-of-the-art infrastructure and leverage the state’s tax incentives and streamlined regulatory processes to attract both local and foreign investors.

Industrial transformation

The Sentuo Building Materials Complex will feature a range of facilities, including a building materials mall, brand shops, warehousing and logistics centres, headquarters buildings and residential facilities.

Upon completion, the complex will provide comprehensive after-sales services and whole-process supervision from manufacturer to user.

Supporting initiatives

Beyond its industrial ambitions, Mr Gomado-Cobblah said the project promised to significantly contribute to national development initiatives.

“It will support the National Apprenticeship Scheme and the 24-hour Economy by establishing a state-of-the-art technical university.

“This institution will offer long and short-term Technical and Vocational Education and Training (TVET), as well as Science, Technology, Engineering and Mathematics (STEM) skills tailored to the needs of the 21st century,” he added.

Recently, Ghana has grown into one of Africa’s most significant cryptocurrency markets. Despite regulatory uncertainty worldwide, Bitcoin’s use in the country has risen sharply. Roughly 17% of adults in Ghana now own cryptocurrency and Bitcoin is the most adopted type. The rise in entrepreneurial activity points to broader social and financial changes and a higher demand from Ghanaians for alternative financial services.

People following the market can use the current Bitcoin price to know what investors think and when they will likely act.

What Drives Bitcoin’s Rising Price

Ghana’s economic situation helps explain the surge. Because of higher inflation, regular currency declines, and fewer opportunities for global financial services, Ghanaians are now looking for new methods to save and make transfers. Bitcoin, because it is decentralized and can serve as a hedge against fiat problems, is being considered by many.

Also, many of Ghana’s population is young, technology proficient and comfortable using mobile money services. Thanks to this knowledge, moving to cryptocurrency has been more straightforward for many who already use digital wallets and make online payments. Bitcoin attracts city-based youth and business owners searching for modern ways to protect and increase their savings, invest funds and form international financial links.

From Mobile Money to Bitcoin

Many know Ghana for its active mobile money industry, which has greatly improved financial access for the population. Now, MTN Mobile Money is used daily by many to handle their money transfers. People’s comfort with mobile banking has created a foundation for accepting cryptocurrencies.

Given its unique capabilities, Bitcoin now attracts users interested in accessing financial markets beyond their home countries. Bitcoin gives freelancers, small businesses, and digital creatives the chance to work with clients around the world at cheaper and faster rates. People who use these wallets are interested in both investing in Bitcoin and transacting with it each day.

A New View of Cryptocurrencies: Moving from Hype to Usefulness

To begin with, Bitcoin was viewed mainly as an investment in Ghana, but that is starting to shift. In addition to its other uses, Bitcoin is now possible to view as an important method for reaching financial self-reliance. Mail Dash now gives Ghanaians in other countries an opportunity to send money back home more cheaply and faster than using standard banks or remittance channels.

In addition, stores, especially e-commerce businesses, are now accepting Bitcoin as a payment method. While many merchants in those areas still have not adopted, peer-to-peer use of cryptocurrencies is rising. They allow individuals to transform Bitcoin into their local trade or goods, setting up unofficial economies apart from mainstream financial services.

Education and Accessibility as Important Motivators

Many people have started owning Bitcoin because of what they learned in school. Thanks to efforts by local crypto communities, webinars you can register for and social media, more individuals are better informed about blockchain and digital currencies. People in Ghana are gaining awareness of Bitcoin and learning what they need to know to get involved safely.

It is now much easier for people to get the information they need. Various user-friendly wallets, local trading platforms, and mobile service involvements are decreasing hurdles for those using cryptocurrency for the first time. 

Having mobile wallets is especially helpful for Ghana since traditional banks can only reach a small percentage of rural areas. As people use the internet and smartphones more, crypto platforms start to serve those who would otherwise not have access.

Using Bitcoin to Accomplish Economic Goals

For many Ghanaians, Bitcoin means more than money—it represents their empowerment. When ordinary financial services are slow, too expensive, or unavailable, Bitcoin lets people take matters into their own hands. Those who use cryptocurrencies can hold, trade, and discover additional income streams without involving banks or remittance businesses.

Bitcoin continues to perform well in uncertain economic or political areas. Because the cryptocurrency system is decentralized, it can still be accessed when financial services in a location fail. That’s why some people are now considering Bitcoin to safeguard their wealth.

The Challenges Ahead for Ghana

Even though more people in Ghana are adopting Bitcoin, many challenges remain. There is widespread uncertainty about various regulations. While some in the government support digital financial developments, there is still no clear rulebook for using cryptocurrencies. As a result, both users and businesses may not know if the law protects them.

Ensuring safety is yet another issue. Because of fraud, Ponzi schemes and illegal exchanges, some people are starting to doubt the industry. We need to work harder to raise security awareness and differentiate actual crypto activity from fake ones.

Infrastructure limitations, mainly in rural parts of the country, make it difficult for more people to try electric cars. While more people use smartphones and mobile internet, there are still those who cannot fully access Bitcoin and this should be fixed if Bitcoin is to succeed everywhere.

What Ghana Could Bring to Africa’s Bitcoin Scene

Ghana’s high rate of Bitcoin owners points to a major change in the way money is used. More progress in cryptocurrency infrastructure and better education will accelerate this trend.

Ghana has all the advantages of becoming a center for crypto development in West Africa. Given its youth, previous advancements in fintech and willingness to embrace digital changes, Ghana may help lead the way in including digital assets in the daily lives of people in Africa.

With clearer regulations and innovative technologies, we expect the next phase of Bitcoin adoption in Ghana to go even further and have a bigger impact. We have started on solid ground. 

Today, using Bitcoin wisely requires cooperation amongst those who innovate, those who use it, and those who control regulations to ensure this happens in a fair, safe, and steady way.

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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.