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

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

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

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

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

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

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

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

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

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

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

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

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.

Government Statistician, Dr Alhassan Iddrisu

The Ghana Statistical Service (GSS) is urging government to take advantage of the declining rate of producer inflation and accelerate targeted policy interventions to further improve exchange rate stability and grow import substitution industries.

Government Statistician Dr. Alhassan Iddrisu underscored the significance of interventions such as the Gold Board initiative and Agriculture for Transformation Agenda, stressing their importance in enhancing economic stability and reinforcing the downward trend in inflation.

This call comes on the back of a 5.9 percentage point drop in year-on-year producer price inflation from 24.4percent in March 2025 to 18.5 percent in April 2025 – marking the third consecutive month of decline.

According to the Dr. Alhassan Iddrisu, this slowdown provides a unique policy window for government to act decisively in strengthening the industrial base and stimulating economic growth.

“Now is the time to fast-track targetted interventions that will reinforce the downward trend in inflation and build a more resilient economy,” the Government Statistician advised following release of the latest Producer Price Index (PPI) data.

Beyond these flagship policies, GSS has also encouraged government to make better use of sector-specific inflation data in shaping effective industrial, trade and inflation control policies.

The PPI data for April 2025 provides a breakdown of price movements across key economic sectors including mining, manufacturing, construction and services. For instance, easing inflationary pressures in mining and manufacturing accounted for 94.5% of the inflation decline in April – signalling areas where government policy can be further calibrated to maintain stability.

“Detailed sub-sector data should be used to guide policy decisions. Understanding where inflation is cooling or persisting allows for more targetted and impactful responses,” he emphasised.

In addition, he called for intensified public education around producer price inflation and its economic implications, saying transparency and proactive communication with businesses, consumers and policymakers are crucial to building confidence in the economy’s direction.

Government also cautioned that “while a falling rate of price increases helps, it can also mean people are not buying as much”, hence government must be alert and ready to intervene if businesses or employment levels come under pressure.

Businesses

Businesses were also urged to take advantage of easing inflation by re-evaluating their cost structures and pricing models. With the rate of increase in prices of domestically produced inputs slowing, companies now have a chance to offer more competitive prices and attract new customers.

The GSS further encouraged the private sector to resume paused investment plans and cautiously explore expansion noting that stable factory gate prices reduce input cost unpredictability and make it easier to plan medium- to long-term projects.

In addition, the Service advised businesses to shift toward local sourcing, pointing out that locally sourced inputs have become relatively cheaper and offer a buffer against exchange rate fluctuations and import-related shocks. This strategy, GSS explained, not only improves cost efficiency but also supports domestic industries.

GSS further urged business owners to initiate discussions with financial institutions for improved loan terms, citing the declining inflation trend as a favourable context for negotiating better interest rates.

Households

At the household level, GSS recommended a more cautious and informed financial approach – encouraging consumers to save more and avoid panic-buying, given the increasing price stability.

Consumers were also encouraged to “speak up about unfair prices if shops keep raising prices even when the rate of increase in producer prices is going down”, as GSS believes transparency and accountability across the value chain is critical.

“Avoid High-Interest Loans since prices are stabilising; invest in small side jobs or farming. This is a good time to start small income activities like farming, petty trading or home-based services,” it added.

Fiscal

These calls come at a time when inflation rate continues on a downward trajectory, with the Consumer Price Index (CPI) report for April 2025 revealing year-on-year (y-on-y) inflation of 21.2 percent, a decline of 1.2 percentage points from the 22.4 percent recorded in March 2025 – making it the fifth consecutive month of easing.

And also the cedi staged a remissive bout against the dollar and other major trading currencies – appreciating about 16 percent against the dollar, according to Bloomberg.

The cedi was named ‘best performing currency in the world’ for the month of May by Bloomberg.

On the interbank market at close of business on Wednesday, May 20, 2025, the cedi was trading at GH¢11.85 to US$1, GH¢15.85 to £1 and GH¢13.32 to €1.

Ghanaian broadcaster Kofi Adomah Nwanwani has provided latest update on his health after a long recovery period following a shooting injury to his eye several months ago.

In a video posted to his Kofi TV YouTube page on May 22, 2025, Kofi enumerated a lengthy number of people and donors that helped him during this time.

He also commended businessman Ibrahim Mahama for his generosity and willingness to go above and beyond, including offering to take him on his own private jet.

“Today is just to say thank you, but as I have said, I won’t leave any issue unanswered. Whatever needs to be done will be done because what I went through, at a point, I felt it was my end. I felt that it could have been my death because someone was shot in the leg at Teshie Nungua, and she died. Mine was in the face, and when you look at the scans that were conducted, as I speak now, there are still particles in there, which they say I have to live with for a period,” he stated.

Kofi vowed to clarify and explain some controversies surrounding the incident in subsequent videos.

On the current status of his eyes, Kofi Adomah revealed that, although his sight is not as it used to be, he is recovering and currently able to see following extensive surgeries and treatment.

“Now I can say that, while my eyes are not like they used to be, I can now see you if you are standing before me. I can read messages. When the text is small, I can take a screenshot and zoom in to read. So, I am able to help myself, and I am grateful for where the Lord has brought me. I am very grateful to Ghanaians,” he said.

Kofi Adomah Nwanwani was shot in the face on December 21, 2024, during the 25th-anniversary celebration of Dormaahene Osagyefo Oseadeyo Agyemang Badu Il at the Kwafie Festival in Dormaa Ahenkro, Bono Region.

While covering the event, Kofi was struck in the eye by a musket shot fired at close range by a chief’s bodyguard during a traditional musketry display.

Kofi received initial treatment at Dormaa Presbyterian Hospital and Berekum Holy Family Hospital before being flown to Dubai for advanced medical care which was sponsored by businessman Ibrahim Mahama.

Agile working has become one of the most talked-about approaches in today’s modern workplaces—from startups in East Legon to corporate offices in Ridge and Tema. But the big question remains: is it really worth adopting? The short answer is yes. But it only works if you do it properly.

Half-committing to agile is like training half-heartedly for a marathon—you’ll burn out early and be left dragging yourself to the finish line. Agile working requires intention, structure, and full buy-in from everyone involved. When done right, it transforms teams and projects. When done poorly, it creates confusion.

What is Agile, really?

At its core, agile working is a project management methodology that simplifies processes, promotes real-time communication, and reduces unnecessary paperwork. Unlike traditional models that rely on rigid structures and top-down decision-making, agile empowers teams to make decisions, adapt to change quickly, and measure success by working results, not just plans or reports.
It’s about being flexible, responsive, and laser-focused on outcomes. Instead of spending weeks preparing documents no one reads, agile teams spend that time building and improving. Face-to-face communication, whether in person or virtual, is prioritised to ensure clarity, speed, and mutual accountability. Agile strips away the noise and helps people actually get work done.

A culture shift, not just a process

Agile working isn’t just about tools or team structures—it’s a cultural shift. Everyone on the team must understand their role and how their work feeds into the broader goal. Agile thrives on transparency, collaboration, and shared ownership. 

Projects are measured by progress, not paperwork. Teams regularly reflect on their performance and adjust their approach, creating a culture of continuous improvement. Feedback isn’t left until the end of a project—it’s built into the workflow, giving teams the chance to learn and pivot in real-time. When agile is done right, team morale often improves, because people feel involved, heard, and essential to the mission. It fosters a spirit of camaraderie and forward motion.

Who’s involved—and why structure still matters

Contrary to popular belief, agile isn’t structureless. Agile teams typically consist of a few defined roles: the development team, the product owner, and the scrum master. The development team does the technical legwork, while the product owner represents the business or client side, ensuring priorities stay clear. The scrum master facilitates processes and removes blockers—acting as a servant-leader rather than a traditional manager.

This structure, although simple, is powerful. It creates a tight communication loop that replaces lengthy approval chains with fast decisions and clear responsibilities. The goal is not to remove structure, but to create a better one—one that supports momentum instead of slowing it down.

Addressing the misconceptions

There are common myths about agile that hold some organisations back. One is the belief that agile descends into chaos due to the lack of rigid rules. In reality, agile has structure—it’s just not the traditional kind. It’s people-focused, not paperwork-heavy. Teams are small by design—typically between three to nine people—ensuring that no voice is lost and no person dominates.

Another misconception is that agile suffers from a lack of documentation. Agile teams do create documentation, but it’s lean, useful, and focused. Instead of endless reports and meeting notes, agile documentation—often called artifacts—offers concise updates that show progress and highlight challenges in real time. It’s about “show, don’t tell.”

Why Agile makes sense for Ghanaian businesses

Ghana’s economy is increasingly digital. Businesses across Accra, Kumasi, and beyond are being forced to innovate faster, adapt to shifting demands, and deliver quicker results. Agile working gives organisations the flexibility to respond quickly, while still maintaining structure and discipline. For startups building new products, agile can help launch MVPs faster and refine based on customer feedback. For larger organisations managing multiple teams and projects, it ensures alignment without sacrificing autonomy. And for remote or hybrid teams, agile provides a framework that encourages connection, consistency, and accountability.
The bottom line? Agile working offers real, measurable benefits—but only for those willing to embrace it fully. There are no shortcuts, but the rewards are worth the effort. So, is agile worth it in Ghana’s business environment? Absolutely. But like anything meaningful, it only works if you commit to doing it right from the start.

>>>the writer is a seasoned cloud architect and systems administrator with expertise in leading technical teams to create innovative platforms. As CTO of eSolutions Consulting, he has spearheaded major projects like the Office 365 rollout for Ghana’s government and infrastructure deployment for the Ghana Revenue Authority. Recognized for his strategic use of emerging technologies, Allen has led his team to multiple Microsoft Partner of the Year awards, solidifying his role as a key leader in tech-driven business transformation. If you’d like to explore how these strategies can help your organization thrive, reach out to discuss tailored solutions for your business growth journey. He can be reached via [email protected]

By Jibril Abdul Mumuni

Accra, May 23, GNA – Mr. Ahmed Ibrahim, Minister of Local Government, Religion and Chieftaincy Affairs, say Metropolitan, Municipal, and District Assemblies (MMDAs) will play a central role in the government’s industrialisation drive.

He stated that the government planned to allocate 80 per cent of the District Assembly Common Fund (DACF), approximately $2 million annually, to be disbursed directly to Assemblies to drive local economic growth.

He made the announcement at the third edition of the Made in Ghana Business Summit, held on the theme, “Promoting Regional Industrialisation and Business Integration in Ghana.”

The summit aimed to foster the consumption of locally made goods and services to drive national economic growth.

Organised by the Entrepreneurs Foundation of Ghana, the event brought together Chief Executives, captains of industry, business leaders, development partners, members of the diplomatic corps, policymakers, and entrepreneurs from across the country.

Mr. Ibrahim said decentralising resources empower MMDAs to identify and invest in region-specific opportunities, aligning with the President’s vision for a nationwide “24-hour economy.”

He noted that key initiatives to drive economic growth in local communities include the Feed Ghana Programme, promoting food sovereignty through schools and community farms and the “Nkuko Kitikiti” Poultry Initiative.

The Minister said due to the 24-Hour Economy Market prototype, government will allocate 20 per cent of DACF funds approximately GH₵825 million to establish round-the-clock business hubs in every district, featuring warehouses, security services, and childcare facilities.

He disclosed that traditional leaders were collaborating with MMDAs to resolve land disputes and create agro-industrial land banks, while infrastructure improvements aim to attract private investors.

In the bid to enhance local consumption, he said government intended to mandate public institutions to prioritise locally made goods.

Mr. Sam Ato Gaisie, Founder of the Entrepreneurs Foundation of Ghana, emphasised the critical need for industrialisation and agribusiness in Ghana.

He said these sectors were crucial for the nation’s economic progress.

Mr. Gaisie stated the “Made in Ghana Business Summit” was a vital platform for stakeholders to converge, share ideas, and strategise on advancing the economy through these priority areas.

He also stressed the importance of Technical and Vocational Training (TVET), advocating for the establishment of at least one major industry in each region to create jobs.

This, he said, would address unemployment challenges, especially given the influx of graduates.

Gaisie noted that such regional industries, tailored to local products, could employ thousands, counteracting job scarcity exacerbated by technological advancements in industrial processes.

GNA

Edited by Samuel Osei-Frempong.

The Ghana Revenue Authority (GRA) logo

Ghana’s struggles with tax revenue leakages could be substantially reduced through technology integration and data synchronisation across government agencies, according to experts speaking at a recent National Dialogue organised by the University of Professional Studies, Accra (UPSA).

The panel, which brought together specialists from academia, tax practice and the mining sector, unanimously endorsed technology as the solution to the country’s persistent revenue collection challenges.

“Technology is the way to go,” said Professor Abdallah Ali-Nakyea, Associate Professor at the University of Ghana School of Law and Director of Ali-Nakyea & Associates. “GRA [Ghana Revenue Authority] has done very well with automation, making it very easy to file your returns online and get your tax clearance. One key area is how to let our network speak to other institutions.”

Ghana loses approximately GH₵6 billion annually through various forms of revenue leakages, according to figures cited during the discussion. This sum includes GH₵3 billion lost to corruption, GH₵2 billion from mining sector losses, and additional losses from transfer pricing and customs undervaluation.

Professor Ali-Nakyea highlighted that these losses far exceed the $3 billion IMF bailout, which is spread over three years. “Do we need the IMF?” he questioned, suggesting that Ghana could be financially self-sufficient if these leakages were properly addressed through technological interventions.

A key recommendation from the panel was the cross-referencing of financial data between government agencies. Prof. Ali-Nakyea illustrated this point: “If somebody is out there driving a vehicle imported with 3 million dollars, what is the duty paid? The US$ 3 million value card represents income. When we link up GRA with DVLA [Driver and Vehicle Licensing Authority], that’s a big one.”

Gilbert Yirenkyi Addo, Senior Manager of Tax and Regulation at Deloitte, emphasised the importance of data synchronisation. “One thing we need to improve is data synchronisation. People file their financials and if you pick reports, you notice that they have filed different reports to GRA, and different reports to other institutions. This should not happen. There should be a centralised point for financial data.”

The panel also explored how technology could help capture revenue from the informal sector. “The informal sector, the second shadow to the income tax act due to the presumptive tax, it’s been there since 2015. We’ve not rolled it up,” noted Prof. Ali-Nakyea.

He suggested that if informal sector operators paid just “20 cedis a day through mobile money, little drops of taxes take 90 days, and we’ll all be contributing to the quota.”

Dr. Richard K. Boso, Mining Governance and Development Impact Specialist at KNUST Business School, emphasised the need for technology transfers in arrangements with foreign contractors.

“We should look at existing contracts. For example, the SML [Strategic Mobilisation Limited] contract. Does it have anything that helps to build GRA’s own capacity in the long run? If it doesn’t, can we look at that again?”

Dr. Boso further suggested that future contracts should include provisions for capacity building, stating that “they should have a situation where the nation’s own capacity is improved just by the contract.” This would ensure that “over a period of time, 10 years, 20 years, we wouldn’t need them in the same fashion.”

Professor Kwame Gyan, Associate Professor at UG School of Law and Head of Chambers at Kwame Gyan & Associates, connected technological solutions to broader governance issues. “Our problem goes way beyond economics,” he stated, suggesting that technology implementations must be accompanied by integrity reforms.

The experts noted that while GRA has made progress with automation, more comprehensive integration is needed. In 2022, Ghana collected revenue of GH¢75 billion, which increased to GH¢104 billion in 2024. However, these figures do not account for the cost of collection, which would provide “a better measurement of how we have fared.”

The panel also discussed the importance of tax audit quality and capacity building at GRA.

Yirenkyi Addo referenced a previous initiative called the Tax Audit Quality Unit (TAQU), which focused on checking “the quality of audits that had been conducted.”

The consensus among panelists was that Ghana has sufficient potential revenue sources but needs better technological systems to plug leakages, enforce compliance, and build lasting institutional capacity.

While technology was seen as a critical enabler, they agreed it must be accompanied by cultural change and political will to address corruption and improve governance.

The Ghana Stock Exchange (GSE)

The Ghana Stock Exchange (GSE) is on course to record its first Initial Public Offering (IPO) in seven years, as indigenous beverage manufacturer Kasapreko Company Limited has confirmed plans to list on the main bourse by end of the year.

The listing will mark a significant milestone for the local bourse, which has not seen an IPO since telecommunications firm MTN Ghana raised US$238.5million in 2018.

While the exchange has seen listings by introduction during the period, Kasapreko’s proposed public offering will be the first traditional IPO since 2018. The company intends to float as much as 25 percent of its shares, opening a pathway for public ownership in one of Ghana’s most prominent manufacturing brands.

Kasapreko Managing Director Richard Adjei disclosed the plan during a ‘Facts Behind the Figures’ session held at the GSE in Accra. He noted that the IPO forms part of a broader strategy to optimise the company’s capital structure as it positions itself for regional growth and market diversification.

“The company is pursuing the optimal mix of debt and equity to support its expansion both domestically and across the African continent. This will allow us to deepen stakeholder engagement and broaden our access to long-term capital,” Mr. Adjei said.

The announcement comes on the back of strong financial performance. Kasapreko posted a profit after tax of GH¢137.7million in 2024, up from GH¢20.4 million in 2023 – representing a year-on-year growth of 574 percent. Revenue for the same period grew by 45 percent to GH¢2.7billion, driven by strong domestic sales and rising demand in export markets.

The company’s momentum has continued into 2025. For the first quarter Kasapreko reported a net profit of GH¢47.2million compared with GH¢16.6million in Q1 2024, while revenue increased by 52 percent year-on-year. According to management, this performance reflects sustained volume growth, improved operational efficiency and disciplined cost management.

Kasapreko currently holds approximately 45 percent of the local beverage market and operates in 14 African countries. Management has indicated that proceeds from the IPO will be used to consolidate its position in Ghana, expand its product portfolio into food and related segments and deepen its footprint across the continent.

Last year, the company successfully raised GH¢350million under a GH¢600million Senior Unsecured Fixed Rate Notes programme on the Ghana Fixed Income Market (GFIM), the debt segment of GSE. The bond issuance attracted strong interest from institutional investors and was seen as a vote of confidence in the company’s fundamentals.

Managing Director-GSE Abena Amoah welcomed Kasapreko’s listing plans, describing them as the outcome of sustained engagement and strategic alignment between the exchange and private sector stakeholders.

“This is a significant development for Ghana’s capital market. Bringing a company of Kasapreko’s scale and reputation to the main bourse underscores the exchange’s maturity and the opportunity it offers for long-term growth financing,” Ms. Amoah said.

“We are optimistic that this will encourage more large companies, including state-owned enterprises, to consider listing,” she added.

She also referenced positive assurances made by President John Dramani during a visit to GSE a month ago, when he reaffirmed government’s commitment to supporting capital market development and broadening public participation in the ownership of state-owned enterprises.

The broader market has responded favourably to recent developments on the market. The GSE Composite Index has recorded a four-week gain of 7.92 percent and a year-to-date increase of 33.39 percent.

Analysts say Kasapreko’s IPO has the potential to reinvigorate GSE and trigger a new wave of listings, particularly from the manufacturing and consumer goods sectors, which have traditionally been underrepresented on the bourse. It could also set a precedent for successful indigenous companies to tap into public capital for growth, while offering Ghanaians an opportunity to invest in businesses with proven track records.

If successful, the listing will also enhance the exchange’s depth and liquidity, improve corporate governance standards through increased disclosure and support government efforts to formalise and diversify the economy.

Kasapreko was founded in 1989 and has grown into one of Ghana’s largest beverage producers, with a portfolio that includes alcoholic and non-alcoholic products. The company has established significant export markets in West, East and Southern Africa and continues to invest in technology and supply chain infrastructure to meet growing demand.

The company has yet to announce its final offer price, valuation or the timeline for regulatory approvals. However, market observers expect further details to emerge in the coming months ahead of the formal IPO launch.

The Bank of Ghana (BoG) has maintained its benchmark monetary policy rate at 28%.

This is a cautious stance amid lingering inflationary pressures despite recent improvements in currency stability and macroeconomic indicators.

The decision was announced on Friday May 23, 2025 at the conclusion of the Bank’s Monetary Policy Committee (MPC) meeting.

It is to further anchor inflation expectations over fears that price pressures could resurface in the second half of the year.

“”, Governor, Dr. Johnson Asiama told the press at the Bank Square.

Industry players and sections of the private sector had hoped for a modest rate cut but the BoG is of the view the inflation outlook remains uncertain and requires a tight policy posture to safeguard recent macroeconomic gains.

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

The Bank of Ghana’s latest Economic and Financial Data report has revealed that Ghana’s mobile money transactions hit a record high of GH¢365 billion in April 2025.

According to the central bank, the transactions surged by a 3.8% increase from GH¢351.7 billion recorded in March.

This marks the highest monthly value so far in 2025, underscoring the growing reliance on mobile financial services for personal and commercial use.

The report also shows a rise in transaction volumes with mobile money transactions increasing from 764 million in March to 778 million in April.

The consistent growth in both transaction value and volume reflects the increasing penetration of mobile technology, the expanding network of mobile money agents, and the widespread adoption of digital payment platforms across the country.

Analysts say this trend is reinforcing financial inclusion and simplifying access to financial services for millions of Ghanaians.

The Bank of Ghana attributes this momentum to the continued expansion of mobile infrastructure and the convenience mobile platforms offer in daily financial transactions.

SP/MA

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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.

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.

…Latif Abubakar unveils 20th masterpiece as Globe Productions marks 15 years of theatrical excellence

In a dazzling fusion of culture, comedy and compelling storytelling, celebrated playwright Latif Abubakar is set to unveil his 20th stage play, Ghana Must Go, as part of a grand celebration marking 15 years of Globe Productions, Ghana’s leading force in commercial theatre.

The new play, which premieres on May 24–25, 2025 at the Accra International Conference Centre, is the centrepiece of the much-anticipated Big Push Ghana initiative, a theatre-led investment and tourism drive that will take Ghana’s story to 10 countries, including the US, UK, Canada, Germany, Saudi Arabia and China.

But before the curtains rise abroad, the magic begins in Accra. “This is more than a play. It’s a national voice. A creative revolution. And we’re using it to put Ghana on the global map in a way never done before,” said Latif Abubakar, the man behind some of Ghana’s most iconic theatrical hits.

Ghana Must Go (A story that hits home)

Set in a world many Ghanaians abroad know too well, Ghana Must Go follows the journey of a group of friends — weary of life in the diaspora — who make the bold decision to return home and face an uncertain future. The play dives deep into the complexities of homecoming, opportunity, disillusionment and rediscovery. “A group of friends, weary of life abroad, returns home to Ghana, ready to face an uncertain future and rediscover their roots. How did that end?”

With its sharp humour, emotional depth and socially conscious themes, Ghana Must Go promises not just laughs but reflection — and perhaps, revelation.

15 years. 20 plays. One visionary

From Thank God for Idiots to The Second Coming of Nkrumah, Latif Abubakar has spent over a decade making theatre accessible, educational and entertaining for Ghanaians across all walks of life. Now, on the 15th anniversary of Globe Productions, his production house, Ghana Must Go marks a significant milestone — the 20th play in his career. “This is a celebration of the journey so far,” Latif said. “And a bolder step into the future.”

Theatre meets tourism and investment

But this isn’t just about art for art’s sake. The play anchors the Big Push Ghana — an ambitious, theatre-powered campaign using creative performance to attract over 20,000 high-value investors and tourists globally. Following its Accra premiere, Ghana Must Go will tour cities across Africa, Europe, the Middle East, Asia and North America, combining the show with investment expos and networking events that showcase Ghana’s economy, culture and promise.

Book your ticket, experience the legend

This is not your everyday play. It’s a movement. A story of return. A celebration of Ghana. And a once-in-a-lifetime performance you don’t want to miss.

🎟️ Tickets are selling fast
📍 Venue: Accra International Conference Centre
📅 Date: May 24–25, 2025. Two shows each day –1^st show 4pm, 2^nd show 8pm

Let the world come. But first, Ghana must go!

File photo of Alfred Ababio Kumi who has been allegedly picked up by national security operatives

A member of the New Patriotic Party, (NPP) communication team, Nana Kwadwo Agyei Yeboah better known as Nana Kay has confirmed the arrest of Alfred Ababio Kumi, also known as Adenta Kumi, in what he described as a raid carried out by armed state operatives.

Speaking to the Accra-based Okay FM on Friday, May 23, 2025, the NPP communicator disclosed that the arrest happened in the early hours of Friday, May 23, 2025.

“We will not sit aloof and watch such injustices happen in this country. When you arrest one of us from the NPP, you will have to arrest us all.

“The General Secretary, the National Chairman of the NPP and his lawyers are heading to the NIB office to ascertain the matter,” he said.

In a Facebook post on Friday morning, the Member of Parliament for Old Tafo, Vincent Ekow Assafuah revealed that Kumi was picked up about three hours earlier from his residence by eight armed men believed to be operatives of the National Intelligence Bureau (NIB).

VPO

Cedi appreciates by 24.1% against the US dollar in 2025

Ghana’s local currency, the cedi has staged a sharp recovery in 2025 appreciating 24.1 percent against the US dollar in the first five months of 2025.

Data published by the Bank of Ghana in its May 2025 Summary of Financial and Economic Data shows the cedi traded at GH¢11.85 to the US dollar on the interbank market in May, reversing a 5.3 percent loss recorded during the first quarter.

The gains mark the strongest year-to-date performance by the currency in recent years and have provided some respite for policymakers navigating persistent inflationary pressures and external vulnerabilities.

The cedi also recorded broad-based gains across other major currencies appreciating 14.1 percent against the euro to GH¢13.33 and 16.2 percent against the pound sterling which was quoted at GH¢15.74 on the interbank market.

In weekly terms, the local currency gained 2.3 percent against the dollar last week lifting its year-to-date appreciation in the retail market to 17.7 percent.

The appreciation comes on the back of a $425.5 million injection into the retail foreign exchange market by the Bank of Ghana over the review period, as part of efforts to shore up the cedi and stabilise price levels.

SP/MA

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CEO of VCTF, Michael Abbey

The Venture Capital Trust Fund (VCTF) is ramping up efforts to secure more domestic capital as it seeks to expand its impact on small- and medium-sized enterprises (SMEs), citing a proven investment model and strong portfolio performance.

At a media engagement marking its 20th anniversary, VCTF executives highlighted the fund’s achievements – investments in 77 companies, 14 profitable exits and over 28,000 jobs create – as evidence that venture capital can work in Ghana’s economic landscape if properly structured and funded.

“We have validated that the model works,” said CEO of VCTF, Michael Abbey.

“All our exits have been profitable and we’ve shown that strategic investments can yield high returns while creating jobs and stimulating innovation,” he added.

Since inception, the fund has invested GH¢359.6million into various venture funds, catalysing more than GH¢2billion in additional funding from private investors. For every cedi committed by VCTF, GH¢5.58 was raised from external sources, according to the trust.

Portfolio companies have paid nearly GH¢47million in taxes, further underscoring the fund’s economic contribution.

The fund’s investments have spanned sectors such as agri-processing, healthcare, education and manufacturing. Notable exits include Caltech, an ethanol company that delivered over twice the invested amount; and Legacy Health, which yielded a strong multiple upon exit.

Food processing company Elsa Foods and education-focused institutions like AUCC and Penfield are among other success stories.

Despite these achievements, Mr. Abbey cautioned that the sustainability of Ghana’s venture capital ecosystem remains vulnerable due to over-reliance on foreign capital.

He pointed out that the majority of funding still comes from external sources, leaving local businesses exposed to the whims of international donors.

“What this means is that, at any point, foreign capital can exit – just as we’re seeing with USAID. That’s why domestic funding is critical,” Mr. Abbey said.

VCTF is exploring several initiatives to shore-up local capital. These include tapping pension funds, promoting corporate social responsibility contributions to SME-focused venture funds and launching a ‘Responsibility to Grow’ campaign that encourages big businesses to support smaller firms.

Percival Amponsah, VCTF’s General Manager, explained the fund’s role as a catalytic investor. He said VCTF often anchors new funds by taking the first-loss position, which helps de-risk investments and attract private capital.

This strategy, he noted, has been instrumental in encouraging institutional investors to back first-time fund managers.

“We act like an anchor tenant in real estate,” Mr. Amponsah said. “Once we come in, it signals credibility and helps others come on board.”

The trust is planning several new initiatives. These include an ‘Ejumera Fund’ to complement government’s programme to develop 10,000 start-ups annually; a 24-Hour Economy SME Equity Fund; and a Technology Innovation Fund in partnership with the Ministry of Communications under the Ghana Digital Acceleration Project.

Abbey described the trust’s future as “exciting”, adding that more programmes will be rolled out in the coming months to deepen the fund’s impact.

THE government is reviewing the auto policy to include the local assembling of big vehicles such as trucks, bulldozers, graders and excavators. 

This is because the Ghana Automotive Development Policy (GADP) in its current form focuses on new passenger cars, sports and utility vehicles (SUVs), and light commercial vehicles. 

Speaking to journalists in Tema last Wednesday after a working visit to Zonda Tec Ghana Limited, the Minister of Trade, Agribusiness and Industry, Elizabeth Ofosu-Adjare, said the current auto policy did not cover the assembling of big trucks. 

“We are reviewing the auto policy to include what companies such as Zonda Tec do. I think these are the things that will encourage them to produce more and employ Ghanaians,” she said.

Component policy 

The minister also indicated that the government was formulating a component manufacturing policy to encourage people to go into the manufacture of components, so that some of the vehicles that were assembled in Ghana would include parts originally made in Ghana. 

The minister emphasised the importance of using locally made raw materials, such as tyres and batteries, to qualify for quota-free and duty-free trade under the African Continental Free Trade Area (AfCFTA).

She reiterated government’s support for Ghana’s automotive industry, with a focus on enabling companies such as Zonda Tec Ghana Limited to thrive and emphasised plans to attract increased Chinese investment. 

Skills transfer 

She commended Zonda Tec for its commitment to skill transfer and employee development through the establishment of a training school and efforts to train these workers in China, stressing that it would help more young people to get hands-on training in the sector. 

Mrs Ofosu-Adjare said the government aimed to create more jobs for Ghanaians and with Zonda currently employing 500 people, coupled with plans to plug into the 24-Hour Economy Policy, she was optimistic that more employment opportunities would be created. 

Positive outlook 

The Managing Director of Zonda Tec Ghana Limited, Yang Yang, revealed the company’s intent to deepen its operations in Ghana. 

She said her outfit, since 2019, has been training Ghanaian employees in the assembly of heavy equipment such as bulldozers, graders, excavators and trucks with Chinese engineers providing on-site training, and also sending some of the Ghanaian workers to China for further training.

He praised the positive environment in Ghana and the skills of Ghanaian workers and expressed their readiness to expand their investments in the country and train more Ghanaian engineers. 

Writer’s email: [email protected]

Ghana’s total public debt stock edged up marginally to $49.5 billion as of March 2025, according to the latest figures released by the Bank of Ghana.

This represents a small increase from $49.4 billion recorded in February 2025, despite the Ghanaian cedi strengthening considerably against the US dollar during the period.

Measured in local currency terms, the debt stood at GH₵769.4 billion, up from GH₵768.1 billion the previous month, accounting for 55% of the nation’s Gross Domestic Product (GDP).

The slight increase reflects a relatively stable debt position amid favourable currency movements, which have bolstered the cedi’s value.

Interestingly, the domestic portion of the debt decreased slightly from GH₵328 billion to GH₵326.9 billion.

This reduction may be attributed to the government’s cautious approach towards issuing treasury bills, which has tempered domestic borrowing levels.

Meanwhile, external debt rose modestly from GH₵440.1 billion (\$28.3 billion) to GH₵442.5 billion (\$28.5 billion).

In terms of GDP composition, external debt accounted for 31.6%, while domestic debt contributed 23.4%.

The Bank of Ghana’s report also highlights the cedi’s remarkable appreciation against major currencies.

The local currency surged by 24.1% against the US dollar, 16.2% against the British pound, and 14.1% against the Euro — a significant reversal following years of depreciation.

As of May 2025, the cedi was trading at approximately GH₵11.85 to the US dollar, GH₵15.84 to the British pound, and GH₵13.34 to the Euro.

The strengthening currency, coupled with prudent debt management,t signals a more positive outlook for Ghana’s economic stability moving forward.

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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.