The Bank of Ghana (BoG) has opted to hold its benchmark interest rate steady while introducing a structural tweak to its liquidity management regime, a move aimed at sustaining recent macroeconomic gains amid persistent inflation risks.

Following its 124th Monetary Policy Committee (MPC) meeting, the central bank on Monday said it will keep the policy rate unchanged at 28 percent – citing the need to reinforce disinflation momentum and anchor stability in the face of global uncertainties and elevated domestic inflation.

However, in a significant policy shift, the BoG announced an amendment to the dynamic cash reserve ratio (CRR) framework. Effective June 5, 2025, commercial banks will be required to hold reserves in the same currency as the deposits they mobilise. This means foreign currency deposits must now be backed by foreign currency reserves and cedi deposits by cedi reserves.

The Bank of Ghana introduced a dynamic cash reserve ratio (CRR) framework – varying by banks’ loan-to-deposit ratios – to discourage overinvestment in government securities and promote private sector lending, with CRRs set at 25 percent for LDRs below 40 percent, 20 percent for LDRs between 40 percent and 55 percent and 15 percent for LDRs above 55 percent.

The move has significantly increased reserves at the central bank and helped absorb excess liquidity.

“The committee decided to amend the dynamic cash reserve ratio… so that reserves for all banks will now be maintained in their respective currencies,” said Governor Dr. Johnson Pandit Asiama during a press briefing.

He explained that the change is part of efforts to tighten the liquidity framework and enhance monetary transmission.

The decision comes amid improving economic indicators. The updated composite index of economic activity rose by 2.3 percent year-on-year in March 2025, more than double growth recorded in the previous year.

Meanwhile, confidence among consumers and businesses has reached its highest point in seven years, supported by declining inflation and a stable exchange rate environment.

Headline inflation fell to 21.2 percent in April, a drop of 2.6 percentage points since beginning of the year. The decline, which has been broad-based across both food and non-food components, is credited to tighter monetary policy, exchange rate stability and lower ex-pump petroleum prices.

“Core inflation, which incorporates energy and utility costs and inflation expectations across sectors, also points to sustained easing,” Dr. Asiama noted.

He added that the MPC sees a faster convergence toward the medium-term inflation target by first quarter of 2026, provided no major shocks derail the outlook. The end-year inflation target is now at 12 percent.

Ghana’s fiscal position has also shown signs of improvement. Despite revenue falling short of projections in first quarter-2025, expenditure cuts helped keep the primary balance in check. Public debt stood at GH¢769.4billion at the end of March, or 55 percent of GDP – down from 61.8 percent in December 2024.

On the external front, the country posted a record current account surplus of US$2.1billion in Q1 2025, driven by higher export earnings from gold, cocoa and robust remittance inflows.

This led to an overall balance of payments surplus of US$1.1billion and boosted gross international reserves to US$10.7billion – enough to cover 4.7 months of imports.

The cedi has also rebounded strongly, appreciating by 24.1 percent against the U.S. dollar, 16.2 percent against the British pound and 14.1 percent against the euro as of May 21, 2025. Analysts attribute the rally to a mix of fiscal consolidation, foreign exchange rule enforcement and the central bank’s hawkish stance.

Still, the MPC noted that inflation remains elevated relative to its medium-term goal. “Despite the gains, inflation is still high and maintaining a tight monetary policy stance is necessary to reinforce the disinflation process,” said Asiama.

The unchanged policy rate signals the bank’s cautious optimism, balancing the need to consolidate gains with recognition of lingering vulnerabilities. Global headwinds – including rising trade tariffs and policy uncertainty in advanced economies – have tempered investor sentiment and could spill over into emerging markets like Ghana.

Monetary authorities also acknowledged the divergent paths central banks are taking globally, with some maintaining tight stances while others ease policy in response to falling inflation. The Bank of Ghana appears to be anchoring its own decisions on domestic fundamentals and the urgency of restoring price stability.

The next MPC meeting is scheduled for July 2025.

Some of the leaders at the Majlis Ansarullah Ghana conference

In a strong call for environmental responsibility and national development, Alhaj Ahmed Suleman Anderson, Naib Ameer II of the Ahmadiyya Muslim Mission Ghana, has cautioned Ghanaians against destructive practices such as illegal mining, indiscriminate dumping of refuse during the rainy season, and the neglect of afforestation.

He warned that such acts hinder the nation’s progress and must be urgently addressed.

Speaking at the 2nd Accra Zonal Conference of Majlis Ansarullah Ghana on May 25, 2025, held under the theme “Cultivating Taqwa in the Majlis: The Key to Supporting Spiritual Growth and Worldly Success,” Alhaj Suleman emphasised that true service to God must be reflected in acts that promote social harmony and environmental care.

“The conference was organized not only to assess our outreach efforts to marginalized communities but also to remind us of our dual responsibility: service to God and service to humanity,” he stated.

“If I am not on talking terms with my brother and claim to love God, it does not make sense. If I withhold food from my hungry neighbor, what do I gain from that?”

He stressed that patriotism must go beyond words, urging citizens to obey laws that protect the environment.

“We must avoid destructive acts like illegal mining, dumping refuse during the rainy season, and neglecting afforestation. These activities hinder national progress,” he warned.

The conference drew large numbers of Muslim faithful and dignitaries, including Alhaj Ali Mohammed, Chairman of Majlis Ansarullah Ghana, and Maulvi Hafif Ibrahim, a missionary with the Ahmadiyya Muslim Mission in Accra.

Maulvi Ibrahim called on the privileged in society to support the vulnerable, highlighting the role of moral leadership in national development.

“It is the duty of the rich to support the underprivileged in our fragmented communities,” he said.

“If our politicians truly feared God, they would not embezzle funds meant for schools and hospitals. The Qur’an enjoins us to elect leaders who fear God and uphold justice.”

The 2nd Accra Zonal Conference served as a reminder of the Islamic principles of godliness, community service, and the collective responsibility to drive spiritual and national growth.

AM/GA

In today’s social media-craze world, motivational stories are not in short supply but only a few of them tickle real emotions. Frederick Agaaya Adongo’s story is one of the rare exceptions.

Last week, beneath the historic elm trees at Yale University’s graduation ceremony, the once cattle herder stood tall in his academic regalia, the same calloused hands that once held farm tools in rural Zorkor in the Upper East Region now clutching a Master of Laws (LL.M) degree from one of the world’s most prestigious institutions.

“This is nothing short of exhilarating,” the cheerful graduand said in an interview, recalling his emergence from a humble background – the dusty paths of his remote village, where dreams often wither under the harsh sun – to becoming the first Ghanaian in almost four decades to graduate with LL.M from the prestigious Yale Law School.

“I had no professional ambitions growing up. I would say my journey to law school was divinely orchestrated,” he said.

A key part of that divine orchestration is the unwavering support of renowned businessman and philanthropist, Alhaji Seidu Agongo, whose generosity transformed the cattle herder’s dream into an extraordinary reality.

Between farm, cattle and classroom

Growing up in rural Ghana, Frederick said his early life revolved around farming and animal husbandry.

He recalled dividing his time between school, herding cattle, and going to the farm, costing him precious learning time.

“In a typical week, I could only go to school two or three times,” he said.

Despite these challenging circumstances, he persevered through basic education, eventually stopping cattle herding in his final year in junior high school (JHS) to focus on the Basic Education Certificate Examination (BECE).

Predictably, funding his education was a constant struggle. “With contributions from family and other benevolent people, I managed to meet all my financial obligations to complete high school,” he said, though that meant a bigger hurdle was ahead.

At the University of Ghana, he said he relied heavily on support from chaplains and members of the St. Thomas Aquinas Parish and the St. Vincent de Paul Society.

The Agongo factor

Frederick’s life changed dramatically when a senior at the University of Ghana recognised his potential and recommended him to Alhaji Seidu Agongo – a moment he describes as “a significant turning point in my life.”

“Since knowing Alhaji Agongo, he has paid my school fees and provided for my needs throughout my educational journey,” Frederick explained. “I didn’t have to worry about the burdens that otherwise would have made it difficult for me to focus on my studies,” he said.

The result is an improbable Yale Law School star, now a symbol of possibility and a beacon of hope for rural youth across the nation.

The story of Frederick, who Alhaji Agongo neither knows nor has ever met, is one of many by a philanthropist who believes in sharing himself to help make society better.

He has sponsored hundreds of children across the country through various levels of education, paid the bills of hundreds more people and constructed and furnished a state-of-the-art block for the Children’s Department of the Korle Bu Teaching Hospital in Accra.

Alhaji Agongo has also funded several females, widows and single mothers through vocational training and entrepreneurship as part of his commitment to helping create an equitable society.

“Frederick is an exceptional talent, and the least I can do is to support him shine,” he said. “Through that support, he will make his family and society better, and the world will be the bigger beneficiary,” he added.

Making history at Yale

For Frederick, Alhaji Agongo’s presence in his life led him into a land of possibilities.

After successfully completing his law degree in Ghana, he said he was faced with offers from both Yale and Harvard Law Schools but settled for Yale for its intimate learning environment with smaller class sizes.

“My checks also strongly suggest that since 1987, we have not had a Ghanaian in the programme,” he notes proudly.

As the only African in his cohort, Frederick decided to “take the road less travelled,” breaking a 38-year absence of Ghanaian representation in Yale’s prestigious LL.M. programme, a journey smoothed by constant financial and moral support from Alhaji Agongo.

For him, the LL.M. holds immense personal significance, more so from Yale.

“Yale Law School not only imparts profound legal knowledge but also instils in us the responsibility to use that knowledge to address society’s most pressing challenges. Coming from a background where higher education seemed like an unlikely dream, the opportunity to now be part of a community that strives to create meaningful change in the world is nothing short of exhilarating,” he said.

Genuine philanthropist

For Frederick, Alhaji Agongo’s success story highlights the transformative impact of a man’s philanthropy that extends far beyond his person.

“Alhaji Agongo is a genuine philanthropist,” Frederick said, noting the distant nature of their relationship.

“Since knowing him, we have only spoken on the phone; he has never met me and has nothing to gain from me for helping me. Yet he constantly checks up on me to ensure that I am comfortable and provides whatever I need,” he said.

Frederick revealed that Alhaji Agongo has similarly supported numerous other students whose educational journeys might have been “prematurely truncated but for his benevolence.”

Message to the youth

For Frederick, his situation is a powerful testament of how one’s background means less to his/her future.

 “One is not defined by their circumstances,” he said.

“We need to only push ourselves to our elastic limits in the pursuit of our goals”.

He stressed the importance of mentorship and humility, noting that the youth needed to get mentors who could guide them in whatever field they choose to pursue.

 “We just need to humble ourselves and be ready to learn from mentors, friends, and colleagues. And we will attain greater heights,” he said.

On what next, he said he would return home to work while exploring opportunities for further studies.

While at it, his story stands as a powerful testament to perseverance, the impact of philanthropy, and the heights that determined Ghanaians can reach with proper support.

For Frederick, in Alhaji Agongo’s selfless investment in bright minds like him, Ghanaians witness how one person’s generosity can help transform not just individual lives but potentially the nation’s future.

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.

Minister for Foreign Affairs, Samuel Okudzeto Ablakwa (right) and Suzy Pinamang

Suzy Adwoa Pinamang, the second-year student at Adventist Senior High School in Bantama,who was the victim of a tragic accident that left her with severe injuries, is scheduled to undergo eye surgery in June.

Ghana’s Foreign Affairs Minister, Samuel Okudzeto Ablakwa, announced the development after visiting Suzy in London on Sunday, May 25, 2025.

During his visit, Ablakwa noted that Suzy remains in high spirits and is doing well, expressing optimism about her recovery.

“After representing President Mahama at the Oxford Africa Conference this morning, I made time to visit the amazing Suzy Adwoa Pinamang in London.

“Suzy’s doctors have conducted numerous tests following her gunshot injuries, and have scheduled her surgery for next month.

“I am glad our courageous Suzy is in high spirits and doing very well,” Ablakwa stated in a Facebook post.

He also commended the staff of the Ghana High Commission in London for their exceptional care and reiterated his gratitude to Ibrahim Mahama for his generosity.

The minister urged Ghanaians to continue praying for Suzy’s successful surgery and recovery.

Suzy was accidentally shot in the eye by a classmate on April 4, 2025, prompting urgent medical attention. After assessments at Komfo Anokye Teaching Hospital in Kumasi and Agarwal Eye Hospital in Accra, doctors recommended specialist care abroad due to the severity of her injuries.

Businessman Ibrahim Mahama stepped in to cover the full cost of her medical treatment and travel expenses, ensuring no financial burden on Suzy’s family.

Samuel Ablakwa, who facilitated Suzy’s travel arrangements, confirmed that UK visas were secured for Suzy and two caregivers, including her brother and Rafik Mahama, a special aide to Ibrahim Mahama.

Suzy arrived in the UK on May 10, 2025, and has since undergone numerous tests in preparation for her surgery next month.

The case gained significant attention after Bantama MP Francis Asenso-Boakye alerted Ablakwa to Suzy’s plight, with further support from UK High Commissioner Harriet Thompson, who expedited the visa process on compassionate grounds.

The Ghana High Commission in the UK according to the minister, has been instructed to provide special consular privileges to Suzy and her caregivers during their stay.

The Rotational Nurses and Midwives Association of Ghana has announced plans to embark on a nationwide strike starting June 2, 2025, in protest against the government’s failure to pay their outstanding allowances.

According to the Association, its members are owed 12 months of unpaid allowances, a situation they say has become untenable. Despite issuing a 14-working-day ultimatum to prompt government action, the group says its concerns have been met with silence.

Speaking to Citi News, the Association’s President, Ebenezer Boateng, expressed frustration over the continued neglect of their plight.

“The minister has not communicated officially to us, which is very sad. This is because they see us now as insignificant in the health sector, in the ministry, as well as to the public,” he lamented.

Boateng confirmed the group’s intention to proceed with the strike if no action is taken.

“On June 2, we are going on a nationwide strike. We do not want to hear any story from them. This has been a consistent problem for about 5 years now. All they give is an assurance, we don’t need that now,” he stated.

The Association says it is left with no choice but to withdraw its services until concrete steps are taken to resolve the payment delays.

Mahama’s strong ‘fundamentals’ driving cedi gains – Tetteh Nyarko

Parliament will resume sittings this week following a recess, with lawmakers returning to the chamber to continue legislative business.

Speaker Alban Bagbin has announced that the Second Meeting of the First Session of the Ninth Parliament of the Fourth Republic will officially begin on Tuesday, May 27, 2025.

The notice was issued in line with Order 58 of the Standing Orders of Parliament, which mandates the Speaker to formally inform Members of Parliament about scheduled sittings.

This upcoming meeting signals the restart of parliamentary activities, including legislative debates, committee work, and discussions on pressing national matters.

Calm restored at Gomoa Dominase after violent clashes; six arrested

King Charles III and Queen Camilla will arrive in Canada later for a two-day visit seen as bringing a message of support for the country in the face of threats and taunts from US President Donald Trump.

Prime Minister Mark Carney, who recently won a general election on a wave of anti-Trump sentiment, invited the royal couple and will hold a meeting with them during their stay in Ottawa.

The King will read the “Speech from the Throne” to Canada’s Parliament on Tuesday, the first time a monarch has delivered this for almost 50 years.

It is expected to include a defence of Canada’s sovereignty and to reject claims it should be taken over by the US.

There will be a ceremonial welcome at the airport in Ottawa on Monday and meetings with community groups, which are expected to include representatives of Canada’s First Nation communities.

The King will meet Canada’s first indigenous Governor General Mary Simon.

This is the King and Queen’s first visit to Canada since the start of their reign, after a planned trip last year was cancelled because of King Charles’s cancer diagnosis.

By reading the Speech from the Throne the King is following in the footsteps of his mother, Queen Elizabeth II, who carried out the duty twice during her long reign in 1957 and 1977.

But the timing of this week’s visit has been seen as a sign of solidarity with Canada, after calls from Trump for the country to become the 51st US state.

The US threat has inflamed public opinion with some businesses in Ottawa, as elsewhere in Canada, putting on displays of national identity such as “Proudly Canadian” posters.

Carney, when he visited Trump at the White House earlier this month, stressed that Canada was “not for sale” and that message is likely to be conveyed in the King’s speech which is written on the advice of Canada’s government.

Former Canadian high commissioner to the UK Jeremy Kinsman said this was a message the King will be pleased to deliver.

“It’s going to be very affirmative of Canadian sovereignty. And I can say personally that it’s something that King Charles will celebrate saying. I have no doubt,” said Mr Kinsman, who worked as a diplomat with the King when he was Prince of Wales.

The speech, to be delivered in French and English, will set out the Canadian government’s policy agenda in a way that is similar to the King’s Speech at the State Opening of Parliament in Westminster.

But it is also expected to have lines asserting the independence of Canada – a Commonwealth country and Nato member.

Speaking ahead of the King’s visit and State Opening, Carney said: “This is an historic honour which matches the weight of our times.”

In terms of the ceremony, the King is expected to wear a suit, in an event that will be more low key than the crown and elaborate robes on display in the UK’s opening of Parliament.

As well as the speech in Parliament, this brief trip will include community events in Ottawa and a chance to meet local leaders.

This royal visit will be something of a diplomatic balancing act. The King is head of state of both Canada and the UK – and in his UK role, the King has been helping to maintain good relations with the US, sending a warm personal letter to President Trump inviting him for a second state visit.

In Canada, he will be expected to reflect a very different message, with Canada’s government rejecting Trump’s ambition to take over the country.

Ahead of the visit, a royal source said: “The King has long experience and great skill in walking that diplomatic tightrope.

“He’s held in high regard around the globe and across the political spectrum, with good relations with world leaders who understand his unique position.”

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.

Cosmo Developers, in partnership with Fimex Ltd, has officially launched Saareeyaa, a new residential development project aimed at redefining practical urban living in the heart of Labone, Accra.

The unveiling ceremony, held at the Movenpick Ambassador Hotel on Saturday, May 25, brought together stakeholders from across the real estate industry, including investors, legal experts, and property managers, to highlight the project’s unique blend of luxury, accessibility, and community-centric design.

Nestled just off the bustling main road in Labone, Saareeyaa is a four-story architectural marvel that redefines high-end residential living. Designed with modern elegance, it merges luxury with convenience in one of Accra’s most sought-after neighbourhoods.

The building includes a state-of-the-art gym and secure ground-floor parking, with four levels of residential space offering a range of six distinct apartment layouts—from sleek studio units to spacious three-bedroom residences. Each unit is bathed in natural light with floor-to-ceiling windows offering panoramic views of the city.

The penthouse is a highlight—a luxurious sanctuary featuring a private terrace, a sleek infinity pool, and breathtaking skyline vistas.

“We don’t just build homes. We build the future. We build for tomorrow. We build the future the Cosmo way.” Those were the words of Nadine Jaber, CEO of Cosmo Developers, as she welcomed guests.

Jaber highlighted the intentionality behind Saareeyaa’s design.

“Every detail of our work is thoughtfully crafted to meet the unique needs of our clients,” she said, referencing past successes like the La Vista project in Abelemkpe. “At Cosmo and Fimex, we believe in cosmopolitan living. We design spaces that foster a sense of belonging.”

“Also, what makes Saareeyaa distinguish[ed] is, if you invest now in Saareeyaa, you will design your space. So that’s why it’s called ‘Designed for Living’,” she added.

At the heart of the project is the company’s innovative rent-to-own payment structure.

“You only pay 50% of the amount of the apartment, and you cover the remaining one – two years later. You pay like monthly rent… you will sit, stay in your apartment, and as if you are paying rent, you will be paying for the developing company where you bought the apartment without paying rent to anyone else, and then you own your apartment.”

The project is tailored for families, young professionals, diaspora investors and even employees seeking home ownership.

“We put our prices very strategically and [in a] very clever way, where both families, investors, whether whoever you are, whether you’re even an employee, you are able to own an apartment at Saareeyaa,” Jaber said.

According to her, Labone was chosen for its strategic return on investment and vibrant mix of access and calm.

“Actually, we do have projects in different places. So as we know, the Ghana market is very small, and now the hub area… is actually around Labone… and also with the amenities and the surroundings, and the perfect location, 10 minutes from the airport… just makes it perfect.”

The CEO of Fimex Ltd, Abdul Latif Fawaz, stressed the importance of making home ownership accessible.

“We try to introduce an idea in this presentation today, which is rent-to-own… to encourage the people who want to invest or who want to buy to have that opportunity.”

He stated that the team was paying special attention to the 30 per cent of the market often excluded from property ownership. “We’re trying to put things in place… We’re trying to do something for them as much as we can.”

He added: “We wanted to add amenities that if somebody has family, they can still live in an apartment… We’ve introduced a canteen area… a traditional boys’ quarters… not the same idea, but we wanted to create some kind of space… for their own privacy.”

On his part, Bobby Banson, the Lead Consultant at Robert Smith Law Group, spoke to the uniqueness of Saareeyaa’s legal groundwork.

“Unlike a lot of projects where they start selling even without digging foundation, this one—the physical structure is done, because they were patient to get a really good documentation… You walk in, you want unit A, you will see what unit A is—not on paper.”

He added that this “shows the commitment of the owners that they were not waiting for money from buyers to put up their projects. They have invested their money.”

Property Manager for La Vista, Avelon Tetteh Junior, echoed these sentiments. “There is no apartment without amenities that make the whole stay complete, like the security, the gym, the backup generator, the allocated parking lots and the pool.”

“With this particular project, Saareeyaa, the penthouse comes with its private pool… own terrace so you don’t get to share with others,” he said.”

Facilities such as hospitals, leisure centers, supermarkets, and restaurants are all within short driving distances, making daily living seamless and efficient. Inside each unit, well-equipped kitchens, elegant living areas, and warm, inviting aesthetics create a homely atmosphere.

While offering modern comforts like a backup power supply, 24/7 security with CCTV, rooftop terraces, and green landscaping, Saareeyaa’s thoughtful layouts reflect an understanding of Ghanaian lifestyle values—spaces for family, privacy, and a sense of home.

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.

By all accounts, Ghana’s macroeconomic environment has turned a crucial corner. After years of volatility and inflationary shocks, the country is beginning to experience much-needed stability, and one of the clearest signs of this shift is the performance of the Ghana cedi. As of May 20, 2025, the cedi has appreciated by 21.5% year-to-date, a dramatic reversal from the 19.2% depreciation recorded in 2024. This turnaround has naturally sparked questions across the market: Is this sustainable? Will the gains hold?

Following its latest meeting, the Monetary Policy Committee (MPC) of the Bank of Ghana unanimously voted to maintain the policy rate at 28%, sending a clear message to markets: the commitment to price stability and macroeconomic discipline remains firm. The MPC noted that inflation has continued its downward trajectory, declining from 23.8% in December 2024 to 21.2% in April 2025 and that while global uncertainties persist, Ghana’s domestic fundamentals have significantly strengthened.

A Foundation Built on Strong Fundamentals

The current stabilisation of the cedi is not driven by temporary interventions or short-term capital flows. Rather, it reflects a broad-based improvement in the underlying macroeconomic framework, including:

• A tight monetary policy stance that is reanchoring inflation expectations;
• Strong reserve accumulation, with gross international reserves now standing at US$10.67 billion (4.7 months of import cover);
• A trade surplus of US$4.14 billion in the first four months of 2025, driven largely by increased gold exports;
• A current account surplus of US$2.12 billion in Q1 2025, compared to just US$66.05 million in Q1 2024;
• And increasing fiscal discipline, following overspending in 2024.

Additionally, business and consumer confidence is rebounding, while the Bank of Ghana’s shift to a more robust Open Market Operations (OMO) framework is deepening the monetary policy transmission mechanism.

These are structural improvements, not cosmetic ones.

What Could Go Wrong and Why the Market Shouldn’t Panic

That said, Ghana is not immune to global headwinds. One of the key pillars supporting the cedi’s strength has been the rise in gold prices, which surged to US$3,218/oz in April 2025, up 21.8% year-to-date. This has provided a crucial boost to export earnings and reserves through the Gold-for-Reserve programme. However, any improvement in U.S.-China relations may ease global uncertainty and lead to a softening of gold prices. In such a scenario, Ghana could face some valuation losses on its reserve holdings.

But even if gold prices adjust downward, the Bank of Ghana will continue to accumulate reserves, albeit at a slower pace. The point is: reserve accumulation is now a policy norm, not a reactionary tool.

Another factor to watch is remittance flows. With an expected slowdown in advanced economies and the proposed 5% tax on outbound remittance transfers from the U.S., some decline in inflows may occur. However, ongoing reforms in the remittance space, including digitisation, transparency improvements, and reduced transaction costs, are expected to cushion the impact. Remittances remain a resilient inflow stream, especially in times of global uncertainty.

Similarly, forex purchases from mining and oil companies, while steady, are subject to fluctuations in commodity prices. Cocoa proceeds have also been strong, largely due to supply constraints that have driven up global prices. These constraints, however, are unlikely to be reversed in the near term, meaning that cocoa-related forex flows are expected to remain favourable.

The Role of Policy and Market Sentiment

Perhaps the most important factor in the sustainability of cedi stability is policy credibility. The current MPC’s stance to hold the policy rate at a high level while monitoring disinflation sends a strong signal to the market that the central bank is not in a rush to ease. The focus remains on anchoring inflation and ensuring that the gains made in the first half of the year are consolidated.

Moreover, the enforcement of foreign exchange (FX) rules and continued fiscal prudence are playing vital roles. The days of policy inconsistency and market ambivalence appear to be over. Under the new leadership, both at the central bank and Ministry of Finance, there is clear coordination and coherence in economic management.

It’s also worth noting that while the U.S. dollar has been weak, a trend that has helped the cedi’s rally, there are signs that this trend may not last. Should the dollar strengthen again, some pressure on the cedi could re-emerge. But here’s the difference: domestic fundamentals are strong enough to cushion such pressure. The cedi is no longer being propped up by one-off inflows or ad hoc interventions; it is being supported by solid fundamentals, disciplined policy, and growing investor confidence.

Why Inflation May Perform Better Than Expected

In his latest remarks, the Governor of the Bank of Ghana expressed cautious optimism that inflation could end the year lower than currently projected and for good reason. Several recent developments are working in tandem to reinforce the disinflation trend and may deliver a stronger-than-expected outcome.

First, the sharp appreciation of the cedi—nearly 20% against the U.S. dollar so far in 2025—has fundamentally altered the dynamics of imported inflation. With a stronger domestic currency, the cost of imported goods, raw materials, and petroleum products has declined, effectively turning imported inflation into imported disinflation. This appreciation also lowers duties and port charges, reducing the cost of clearance and final consumer prices.

Second, transport fares have dropped by 15%, following adjustments in fuel prices and exchange rate gains. This has a ripple effect across the economy: lower transport costs directly reduce the prices of food and other essential goods, particularly in regions dependent on long-distance distribution.

Third, the combined effect of tight monetary policy and improving fiscal discipline is anchoring inflation expectations. The MPC’s decision to hold the policy rate at 28% affirms its commitment to staying ahead of inflationary pressures, while the government’s renewed focus on spending control supports macroeconomic stability from the fiscal side. These complementary policies reinforce one another and contribute to a more predictable price environment.

Moreover, a component of utility tariffs, especially electricity pricing regulated by the PURC, is based on an assumed exchange rate benchmark. With the current strength of the cedi, the prevailing assumption of GHS15 or higher per dollar is now out of line with reality. As such, upcoming tariff reviews are expected to reflect a lower exchange rate, leading to reduced electricity costs in the next pricing window. This will not only ease the burden on households but also lower production costs for businesses, which can ultimately translate into more affordable industrial goods and services.

Altogether, these developments, strong currency performance, lower transport and utility costs, and disciplined policy point to a more favourable inflation outturn by year-end than originally projected. The market should take note: Ghana’s inflation trajectory is on a more stable and optimistic path than in recent years, supported by fundamentals, not luck.

Growth Outlook Supports Stability

Ghana’s growth outlook for 2025, though modest compared to last year’s surge, remains solid and reassuring. Real GDP growth is projected at 4.0%, slightly down from the 5.7% expansion in 2024, but this is still commendable given the prevailing headwinds in the global economy. Major economies are slowing, capital markets remain cautious, and commodity prices, though currently favourable, are volatile. Against this backdrop, a 4% growth projection signals resilience, particularly for a frontier market emerging from recent fiscal and currency stress.

This growth is expected to be broad-based, supported by continued recovery in industry and services, increased public and private investment, and improved macroeconomic confidence. One of the most encouraging developments is the rebound in private sector credit growth. As of April 2025, nominal private sector credit growth stood at 19.9%, more than doubling the 10.8% growth rate recorded in the same period last year. Even in real terms, the contraction in private sector credit has narrowed significantly from -11.4% to -1.1%, pointing to improving access to finance as inflation eases.

Consumer demand is also stabilising, buoyed by rising real incomes, improving business sentiment, and increased employment prospects in services and agro-processing. At the same time, inflation is coming down, having declined from 23.8% at end-2024 to 21.2% in April 2025. The consistent moderation of inflation has enhanced purchasing power and created room for more stable financial planning by households and businesses.

Together, these developments are creating a virtuous cycle. Lower inflation supports consumer confidence; stronger demand fuels production and investment; and greater economic activity, in turn, generates tax revenue and reduces pressure on government borrowing. All these factors contribute to macroeconomic stability, which in turn reduces the likelihood of exchange rate volatility.

Importantly, the MPC’s decision to maintain a tight policy stance, while allowing targeted credit expansion to productive sectors, demonstrates a balanced and forward-looking approach to growth management. The objective is clear: protect the disinflation gains, while supporting real sector expansion in a controlled and sustainable manner.

A Word to the Market

To investors, market participants, and ordinary Ghanaians watching the performance of the cedi with both hope and scepticism, the message could not be clearer: this stabilisation is not artificial. It is real, policy-backed, and most importantly, sustainable in the near term.

Yes, challenges remain. The possibility of a stronger U.S. dollar, falling gold prices, or geopolitical tensions in major commodity markets cannot be ruled out. Global spillovers can and do affect Ghana. But what has changed is how Ghana is positioned to withstand these shocks. For the first time in years, domestic policy fundamentals are doing the heavy lifting.

• The Bank of Ghana has restored its credibility by taking decisive monetary actions and enhancing policy transparency.
• The Ministry of Finance has signalled a return to fiscal prudence, with early 2025 indicators pointing to better expenditure control and improved revenue performance.
• The external sector is improving, with strong trade and current account surpluses, growing reserves, and sustained forex inflows from gold, cocoa, and even remittances.
• And most importantly, market sentiment has turned. Ghana’s sovereign credit rating has improved, investor interest is returning, and speculative demand for dollars is beginning to decline.

Those still holding dollars in anticipation of another cedi collapse may be misreading this moment. The data is clear. The policy stance is firm. The results are visible. Continuing to bet against the cedi may now be a losing strategy because the very foundations of macroeconomic mismanagement that enabled past depreciation cycles are being dismantled.

This is not to say all risks have disappeared. But in economic management, direction matters as much as position. And Ghana is finally headed in the right direction, cautiously, but with resolve.

To businesses planning investment decisions, to households making financial plans, and to investors watching from the sidelines: this is the moment to recalibrate. Ghana’s macroeconomic environment is stabilising, and if the current course is maintained, this momentum could very well become a new baseline, not the exception.

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.

Trade between Ghana and Türkiye surged to nearly $888 million in 2023, driven by Ghana’s exports worth $614 million, 80.2% of which was gold, and imports from Türkiye totalling $274 million, led by pasta and wheat flour.

The growing trade reflects shifting economic priorities, stronger bilateral ties, and shared strategic interests between the two nations.

With bilateral trade projected to reach $900 million by the end of 2025 and expected to surpass $1 billion by 2027, both countries are actively pursuing deeper collaboration.

Ghana’s key exports to Türkiye include gold and cocoa beans, while Türkiye supplies machinery, transport equipment, textiles, and industrial goods, bolstering critical sectors across both economies.

Industry experts view the accelerating trade volumes as evidence of rising business confidence and a push toward sustainable partnerships.

As Ghana strengthens its role as a trade and logistics hub for West Africa, Türkiye emerges as a valuable partner offering advanced technology, robust manufacturing capacity, and global market access.

Türkiye, one of the world’s top 20 economies with an annual export volume of over $225 billion, is home to more than four million companies.

Its population of 85 million and reputation for high-quality, competitively priced goods make it an attractive trade partner for African nations like Ghana.

Beyond commerce, Türkiye’s engagement with Africa spans diplomacy, education, health, and aviation. The country has embassies in 44 African nations, while Turkish Airlines connects 62 destinations across 41 countries.

The Turkish Maarif Foundation operates over 200 schools on the continent, and more than 30,000 African students are currently studying in Türkiye.

Additionally, Türkiye runs three hospitals in Africa, underscoring its broader development partnership.

Under its “Win-Win” strategy for Africa, Türkiye is cultivating long-term economic relationships through initiatives like the World Cooperation Industries (WCI) Forum.

In line with this agenda, the 11th WCI Forum will take place in Accra from May 28–29, 2025, at the Accra Marriott Hotel.

The forum will bring together over 50 Turkish manufacturers and exporters with West African businesses across sectors such as construction, agriculture, food, textiles, footwear, healthcare, FMCG, and services.

The event will feature B2B meetings, product showcases, panel discussions, and conferences—all designed to promote actionable business deals and sustainable economic partnerships.

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.

Tolani Akintunde was a beloved face on Nigerian television screens

Nollywood Mourns the Loss of Veteran Actress Tolani Akintunde

The Nigerian film industry is mourning the sudden death of veteran Nollywood actress Tolani Akintunde.

Reports indicate that the actress died a few days ago in the United Kingdom after suffering a heart attack.

The news, first shared by Seun Oloketuyi, a media personality and convener of the Best of Nollywood Awards, has left many in shock—especially those close to her.

According to Seun, the devastating news took time to sink in, with family and friends initially struggling to come to terms with the tragic loss.

Her daughter is also said to be mourning deeply as she adjusts to life without her mother.

Before relocating abroad, Tolani Akintunde was a beloved face on Nigerian television screens, fondly remembered for her roles in iconic early 2000s drama series such as Everyday People and Palace—both created by acclaimed producer Tajudeen Adepetu.

Her performances won hearts and earned her respect within the Nollywood community.

After leaving Nigeria, Tolani transitioned into a new life in the UK, where she pursued other ventures and launched a business, quietly building a life beyond the spotlight.

Swedru All Blacks have earned promotion back to the Ghana Premier League following a standout season in the Access Bank Division One League Zone II.

The team sealed their promotion with a 3-0 win over New Edubiase, their 21st victory in 29 matches, amassing 66 points.

This impressive run has solidified their position as zone leaders this season. Swedru All Blacks conclude their campaign with a trip to face PAC Academy, but their top-flight spot is already confirmed.

Their promotion, alongside Hohoe United, is a major milestone for both clubs as they gear up to compete in Ghana’s top division.

The final promotion spot is still up for grabs and will be decided when Real Tamale United clash with Eleven Wonders in Accra on May 30.

Both teams will be vying to claim the last Premier League ticket for the next season.

Conflicting reports from sources at the hotel suggested either a possible fire or structural concern

Ghanaian pilgrims in Mecca were temporarily evacuated from their hotel following a scare on the 12th floor.

The incident, which occurred on Sunday afternoon (May 25, 2025), prompted the temporary evacuation of hundreds of Ghanaian Hajj pilgrims from the Rafahya Al-Seteen Hotel in Mecca, Saudi Arabia.

According to reports, no casualties or injuries were reported, but fear lingered after the incident.

The exact cause of the alarm remains unclear, with conflicting reports from sources at the hotel suggesting either a possible fire or structural concerns on the 12th floor.

While some claimed there was a fire, others reported that “the 12th floor was breaking down,” leading to widespread panic among guests.

Emergency responders, including Saudi fire and police officials, quickly arrived at the scene and brought the situation under control.

The incident comes as pilgrims from around the world continue to arrive in Mecca for the 2025 Hajj pilgrimage.

However, Ghanaian Hajj authorities have yet to issue an official statement regarding the incident.

The former Chief Executive Officer of the Ghana National Gas Company (Ghana Gas), Dr. Ben K.D. Asante, made a compelling call for the establishment of an African Energy College at the recently concluded Forum for Oil and Gas in Africa (FOGA) in Luanda, Angola, earning thunderous applause from a diverse audience of energy practitioners.

The Forum for Oil and Gas in Africa, which convened energy experts from around the world, deliberated on gas development and energy transition issues pertinent to the African continent. The forum was held under the auspices of the Global Gas Centre, Petrofund, and African Local Content Focus Initiative (ALCFI).

As a key speaker at the forum, Dr. Asante highlighted the challenges confronting African countries in developing their oil and gas resources, particularly amidst the global push towards decarbonisation of the world’s energy portfolio.

Recommending a framework for the development of the continent’s natural resources, the oil and gas expert outlined numerous options, including local financing for projects and building local intellectual capacity to ensure the sustainability of the industry.

“The proposed African Energy Bank is a commendable initiative, but Africa must build the requisite intellectual capital to sustain its energy industry, bridge the gap between academia and industry, and minimise the life cycle cost of energy projects from design and construction through operations and maintenance to decommissioning,” he stated.

He also suggested that building local capacity would ensure significant capital retention within Africa.

Dr. Asante paid homage to Ghana Gas employees for their successful indigenisation programme, where local engineers and technicians took over the operations of the nation’s first gas processing plant and associated pipeline infrastructure from their Chinese counterparts in just three years.

In comparison, total indigenisation in countries such as Nigeria and Trinidad & Tobago took over 50 years.

When asked how he intends to actualise this vision, Dr. Asante, who straddles both academia and industry, advocated for a united approach.

“Having been in this industry for about 30 years in Canada, the US, and Ghana, it is clear that we need the participation of all relevant stakeholders in this endeavour. This should include academic institutions, local and foreign subject matter experts, experts in the diaspora, and selected government institutions to make this happen,” he said.

He envisages various Centres of Excellence or campuses for the proposed African Energy College in all participating countries.

On Africa’s role in the related energy transition from fossil fuels to renewables, Dr. Asante was unequivocal.

“The transition from fossil fuels to renewables should begin within the fossil fuel family itself, based on their respective atmospheric carbon dioxide (CO2) emission coefficients. Thus, from the family of three—coal, oil, and gas—we should transition from coal first, then oil, and eventually gas. This reflects the stratification of their respective carbon count and emission density,” he explained.

He opined that gas will undoubtedly be the transition fuel as African countries gravitate from fossil fuels to renewables, with unclear transition timetables, due to its cost-effectiveness (about half the cost of liquid fuel) and atmospheric responsiveness (about 50% less CO2 emissions).

Dr. Asante also suggested that the energy transition programme should consider the regional carbon footprint in the transition timetable. Africa, he noted, has about 18% of the world’s population, but the carbon footprint of its 1.5 billion inhabitants is only 4% compared to the rest of the world.

He further emphasised the need for Africa to utilise more of what it produces. Africa contributes about 10% of total world gas production but accounts for only 5% of global consumption.

“The difference between Africa’s 800 Tcf (trillion cubic feet) of gas reserves and its current production of about 10 Tcf per year presents an opportunity for increased supply, but the disparity between its current production and local consumption presents an opportunity for development,” he stated.

However, he acknowledged several challenges, particularly in the areas of commodity monetisation and security, as well as financing and infrastructure assurance.

He discussed challenges confronting key African gas production fields, such as Zohr, West Nile Delta, and Nooros in Egypt; Hassi R’Mel, Rhourde Nouss, Alrar, and Tinrhert in Algeria; Gbaran Ubie in Nigeria; the Soyo Project in Angola; Alba in Equatorial Guinea; and Wafa and Bahr Essalam in Libya.

The challenges he outlined include lack of access to capital, inadequate requisite infrastructure, unattractive fiscal and tax regimes, unclear institutional and regulatory frameworks, insufficient local intellectual capacity, limited local and private sector participation in the energy sector, and non-cost-reflective delivered commodity prices.

Despite these challenges, Dr. Asante suggested that Africa still has a significant opportunity to establish its gas supply credentials to address these issues and the constraints imposed by global geopolitics.

Dr. Ben Asante is a Chemical and Petroleum Engineer with over 30 years of experience in the oil and gas industry. He has worked for major companies in Canada and the US in various technical and managerial roles and has served as a consultant to the World Bank and the Asian Development Bank, advising over 25 countries on gas and energy development plans. He is the immediate past CEO of the Ghana National Gas Company.

Additionally, Dr. Asante is an academic, teaching oil and gas-related courses at Kwame Nkrumah University of Science and Technology (KNUST) in Ghana, and has previously taught at the University of Calgary in Canada and Imperial College in London, England. He holds bachelor’s, master’s, and PhD degrees in Chemical and Petroleum Engineering.

Ghanaian applicants of US visas are reportedly paying a rate of ₵16 to a dollar

Information reaching Rainbowradioonline.com indicates that the United States Embassy in Ghana is still pegging the dollar rate at ₵16 to a dollar for visa fees, despite the appreciation of the cedi.

Some applicants who have applied for visas at the Embassy are being asked to pay ₵16 per dollar.

The applicants are worried and are demanding answers as to why the Embassy in Ghana continues to use the old rate, despite the gains made by the cedi against the dollar.

The applicants, who wish to remain anonymous, have called on the Minister of Foreign Affairs, Samuel Okudjeto Ablakwa, to intervene and urge the Embassy to adjust its rates to reflect the cedi’s recent gains.

Additionally, the rate for sending money from the USA to Ghana is pegged at ₵11.50. The Ghana cedi has been designated as the world’s best-performing currency this month, after appreciating nearly 16 percent against the US dollar since the start of April 2025.

Performance of the Cedi

According to Bloomberg, the gains made by the cedi have contributed to easing inflationary pressures, resulting in Ghana’s lowest inflation rate in eight months.

The African Development Bank (AfDB) has applauded Ghana’s progress, with a recent report stating, “Ghana’s macroeconomic stabilization efforts, including fiscal consolidation and monetary policy tightening, are yielding positive results, contributing to the cedi’s appreciation and moderating inflation.”

However, it cautioned that drastic structural reforms are needed to diversify Ghana’s economy and make it less susceptible to external shocks.

According to the AfDB, increased regional integration and trade liberalization under the African Continental Free Trade Area (AfCFTA) could further boost the positive impact of a stronger cedi on Ghana’s trade balance and economic growth.

President John Dramani Mahama

President John Dramani Mahama has reiterated his commitment to securing justice for Africans and people of African descent through reparations.

He made the remarks during the commemoration of the African Union (AU) marking 2025 as the Year for Reparatory Justice.

The president, who currently serves as the AU’s champion for the cause, said he remains dedicated to working with African leaders and stakeholders to advance meaningful progress.

In his Africa Day 2025 message, President Mahama said, “The AU has declared 2025 as the year for justice for Africans and people of African descent through reparations. As the AU champion for this critical cause, I am deeply committed to working with you all to achieve this objective.”

The African Union has designated 2025 as the Year of ‘Justice for Africans and People of African Descent Through Reparations,’ following a decision made at the 37th Ordinary Assembly in Addis Ababa.

This theme aims to drive momentum for reparations, promote AU-wide engagement, and support the operationalisation of reparations for historical injustices, such as transatlantic enslavement, colonialism, and apartheid.

This initiative underscores the AU’s commitment to addressing historical injustices, including the transatlantic slave trade, colonialism, apartheid, and genocide.

It builds on decades of advocacy and collaboration, aiming to foster unity and establish mechanisms for reparatory justice on a global scale.

She indicated that although only about 7% of Ghana’s national revenue is derived from the fossil fuel sector, this revenue plays a vital role in supporting critical sectors such as education, agriculture, and healthcare.

Despite this, Ghana has ambitious plans to expand its footprint in the petroleum sector, including strengthening the Ghana National Petroleum Corporation (GNPC).

At COP27 in Egypt, Ghana launched its Energy Transition Investment Plan, initially seeking over $600 million in funding. CSOs pushed back, calling for deeper consultation and alignment with the realities on the ground. The plan has since been revised, now targeting $550 billion by 2060, with the goal of achieving net-zero emissions.

However, she warned that global demand for fossil fuels is declining rapidly, recounting how, in 2021, the Ministry of Energy began coordinating a national energy transition plan with the support of civil society organisations (CSOs), including NRGI. Concerns were raised about coordination, transparency, feasibility, and inclusion, particularly for vulnerable groups such as youth, persons with disabilities, and workers in the energy sector who would need retraining and support.

Speaking during a multi-stakeholder dialogue on Wednesday, May 21, she highlighted the contradiction between Ghana’s continued investment in fossil fuels and the global momentum toward clean energy.

“If the buyers of our fossil fuel products are moving away, we also need to have a plan,” she said, emphasising the importance of scenario planning and future forecasting to protect the country’s economy.

Chinery also pointed out the broader geopolitical shifts that affect financing for African countries. “Donor funding is shrinking,” she said, referencing reduced international aid from the U.S. and Europe due to rising domestic priorities.

This, she stressed, makes it even more urgent for African nations to look inward and align their mineral and energy sectors in a sustainable, strategic way.

“This meeting is timely. We need to know where we are, who is doing what, what more needs to be done, and most critically, how we’ll raise the money to finance Africa’s energy transition.”

TotalEnergies chief executive Patrick Pouyanne defended the company’s work on oil projects in East Africa on Friday, after an independent U.N. human rights expert said the French firm should urgently address fresh allegations of abuses.

In a statement, opens new tab released late on Thursday, Special Rapporteur on Environmental Defenders Michel Forst said the company must take immediate action to protect activists linked to the East African Crude Oil Pipeline and connected oilfields.

That followed a decision by German asset manager Union Investment to drop TotalEnergies’ bonds and shares from its sustainable investment funds over the issue.

Pouyanne addressed criticism of the East African projects related to their alleged environmental and human rights impacts during the company’s annual shareholders meeting.

“We develop these projects with the values and principles that are ours, we are convinced of the good they do for the countries and the local populations,” he said.

He added that projects like the one in Uganda are better done by TotalEnergies rather than others, who may care less about human rights and the environment.

Union Investment said it took its decision after reviewing a fresh report from non-profit Just Finance International citing alleged abuses at the Kingfisher oil site in Uganda, part of the pipeline project.

Forst said TotalEnergies had failed to take effective steps to address abuses against activists, adding it was “deeply troubling” that “it has instead consistently rejected the allegations as mere ‘misconceptions’ of the projects’ impact”.

As a French company, Forst said TotalEnergies was bound by the Aarhus Convention – an agreement protecting public rights to participation in environmental matters – to ensure individuals were not penalised or harassed for their opposition to the projects.

Earlier, the company released a statement saying it “does not tolerate any threats or violence against those who peacefully defend and promote human rights” and reminds those it works with of its position on the subject.

The company added that it worked with Ugandan authorities “to stress to the police the need to ensure that due process is followed, the protesters are treated well, and their rights are respected while in detention”.

The security team of its local unit also monitors the wellbeing of anyone arrested and ensures their representatives are able to visit them, it said.

Forst backed a call by Union Investment for an independent investigation into the alleged abuses. As well as making the results public and acting on any shortcomings, he also asked TotalEnergies to use its leverage to prevent any further attacks.

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.

Niger has asked that some Chinese employees working on oil projects leave the country, documents seen by Reuters on Friday showed, a move that could affect dozens and further strain bilateral ties.

Similar to other West African countries, junta-led Niger has been trying to assert greater control over its natural resources and promote local employment.

Oil minister Sahabi Oumarou has asked the China National Petroleum Corporation (CNPC) and its refinery SORAZ to terminate the contracts of expatriates who have been working in Niger for more than four years, two letters showed.

“China has always adhered to the principles of truth, friendship, sincerity, and the correct view of righteousness and benefit in carrying out cooperation with Africa,” a spokesperson for China’s foreign ministry said, adding that CNPC had made economic and social contributions in Niger “for many years.”

“Ensuring the long-term and healthy development of China-Niger oil cooperation is in line with the common interests of both parties,” and specific issues that may arise can be resolved through “friendly negotiations,” the spokesperson said.

In a letter to SORAZ dated May 21, Oumarou indicated there would be some flexibility, saying he understood the need to keep certain employees in the country and that departure decisions would be made on a case-by-case basis.

Yet in a separate letter to CNPC, dated May 20, Oumarou said he would decline a private meeting with the company’s CEO who had asked to discuss tensions between the two sides.

In that letter, Oumarou also accused CNPC of non-compliance with local regulations.

In March, Niger expelled three Chinese oil executives in a dispute over disparities between the salaries of expatriate staff and lower-paid local workers.

Following the executives’ dismissal, CNPC’s top officials have been trying to meet with the government for negotiations, a source close to the company said.

If the decision described in the May 20 and May 21 letters is applied, dozens of Chinese workers will have to go home, the source said.

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.

Ukraine’s President Volodymyr Zelensky has alleged that the US’s “silence” after recent Russian attacks is encouraging President Vladimir Putin, following Moscow’s largest aerial attack yet.

The overnight attack saw Russia fire 367 drones and missiles – the highest number in a single night since Putin launched a full-scale invasion in 2022.

At least 12 people, including three children, were killed and dozens more injured in widespread strikes across Ukraine. They came a day after one of the heaviest assaults on the capital Kyiv in months.

US President Donald Trump reacted late on Sunday by telling reporters: “I’m not happy with what Putin is doing. He’s killing a lot of people.”

Ukraine’s Air Force said that since 20:40 on Saturday local time (17:40 GMT), Russia had carried out strikes using 298 drones and 69 cruise and ballistic missiles.

The air force said it had shot down 45 cruise missiles and destroyed 266 UAVs, with most regions in Ukraine affected and hits recorded in 22 locations. Rescuers were working in more than 30 cities and villages,Zelensky said.

Despite mounting international calls, Russia has continued to intensify its aerial campaign, showing no sign of halting its offensive and ignoring calls for a ceasefire.

In a pointed message to Trump – who has previously claimed that Putin is interested in ending the war – Zelensky said: “The world may go on vacation, but the war continues, despite weekends and weekdays.

“This cannot be ignored. America’s silence, and the silence of others in the world, only encourages Putin.”

Zelensky warned that Russia’s “brutality cannot be stopped” without “strong pressure on the Russian leadership.”

Trump’s first comments on the latest strikes came hours later at an airport in Morristown, New Jersey, as he was preparing to return to Washington.

“I’m not happy with Putin. I don’t know what’s wrong with him. What the hell happened to him?” Trump said.

He declined to give any details about what his response would be.

Until then, the only reaction to the Russian barrage from senior US officials came from Keith Kellogg, Trump’s special envoy for Ukraine.

In a post on X, he published a photo purportedly showing smoke billowing in the night sky over the Ukrainian capital after the Russian attacks.

“This is Kyiv. The indiscriminate killing of women and children at night in their homes is a clear violation of the 1977 Geneva Peace Protocols designed to protect innocents. These attacks are shameful. Stop the killing. Ceasefire now,” Kellogg wrote.

The 1977 protocols are amendments to the Geneva Convention, which sets out internationally agreed rules of conduct in war.

Of the people killed, three in the Zhytomyr region to the west of Kyiv were children – all siblings, according to Ukrainian Deputy Foreign Minister Mariana Betsa. In a statement on X, she identified them as eight-year-old Stanislav, Tamara, 12, and Roman, 17.

When Zelensky refers to “American silence”, he likely means the further sanctions Washington has so far resisted imposing on Moscow for its continued invasion.

His argument is that Russia’s war machine is not being starved sufficiently, and that the Kremlin is not being incentivised enough to meaningfully engage in ceasefire talks.

Trump has said he wants to use more of a carrot than stick when it comes to convincing Moscow to agree to a ceasefire, but, aside from direct Ukraine-Russia talks and further prisoner of war exchanges, there has been little to no progress on bringing a pause in fighting closer, despite the US president’s growing impatience.

Despite Kyiv’s European allies preparing further sanctions for Russia, the US has said it will either continue trying to broker these peace talks, or “walk away” if progress does not follow.

With Moscow’s continued, maximalist demands for peace, Putin deciding not to show up at recent ceasefire negotiations in Turkey, and 48 hours of heavy aerial bombardments for Ukraine, it is hard to see what the Kremlin would have to do in order for the White House to adopt a tougher stance.

Russia’s defence ministry said it had inflicted damage on targets including military airfields, ammunition depots and electric warfare stations, claiming damage across 142 areas.

According to Ukrainian Interior Minister Ihor Klymenko, 13 regions were attacked, with more than 60 people injured, 80 residential buildings damaged, and 27 fires recorded.

Klymenko called it a “combined, ruthless strike aimed at civilians”.

Two women, aged 85 and 56, were killed after a house in Kupiansk was hit, according to Oleh Syniehubov, head of the Kharkiv region.

In the Kyiv region, four people were killed and 16 injured, including three children, DSNS said.

Putin launched a full-scale invasion of Ukraine in February 2022, and Moscow currently controls about 20% of Ukrainian territory.

This includes Crimea – Ukraine’s southern peninsula annexed by Russia in 2014.

Russia’s previous largest drone attack came just a week ago when 273 drones were launched on the central Kyiv region and Dnipropetrovsk and Donetsk regions in the east, according to Ukraine’s air force.

Russia is able not only to just manufacture drones at a faster rate, but they are also evolving. Shahed drones are now being packed with more explosives and improved technology to evade detection.

Ukraine said the 13 regions hit by strikes on Sunday were Kyiv and the capital’s wider region, as well as the regions of Zhytomyr, Khmelnytskyi, Ternopil, Dnipropetrovsk, Mykolaiv, Odesa, Kharkiv, Chernihiv, Cherkasy, Sumy and Poltava.

In Kyiv, local officials reported 11 injuries, multiple fires and damage to residential buildings, including a dormitory.

A BBC colleague messaged to say a block of flats was destroyed, just a five minute drive from where she lived.

The strikes came as the capital marked its annual Kyiv Day holiday.

In Russia, the defence ministry said 110 Ukrainian drones were destroyed and intercepted over 12 Russian regions and the Crimea peninsula between midnight and 07:00 local time (05:00 BST).

Moscow Mayor Sergei Sobyanin reported that 12 drones heading towards the capital were shot down.

He added that emergency services crews were deployed to assess damage caused by falling drone debris.

In the Tula region, just south of Moscow, drone wreckage crashed in the courtyard of a residential building, smashing windows in a number of apartments, local governor Dmitriy Milyaev said.

No-one was injured, he added.

Sunday was also the third and final day of a major prisoner of war exchange between the two sides. After this weekend, there is even less hope it will lead to further co-operation.

On Friday, Ukraine and Russia each handed over 390 soldiers and civilians in the biggest prisoner exchange since Russia launched its full-scale assault in February 2022.

On Saturday, Zelensky announced that another 307 Ukrainian prisoners had returned home as part of an exchange deal with the Kremlin.

And on Sunday, Ukraine and Russia each confirmed 303 of their soldiers had returned home – bringing the total over the three days to 1,000 prisoners each.

The swap followed the first face-to-face talks between the two sides in three years, which took place in Turkey.

Earlier this week, Trump and Putin had a two-hour phone call to discuss a US-proposed Ukraine ceasefire deal.

Trump said he believed the call had gone “very well”, and added that Russia and Ukraine will “immediately start” negotiations toward a ceasefire and “an end to the war”.

However, Putin has only said Russia would work with Ukraine to craft a “memorandum” on a “possible future peace”, and has not accepted a 30-day ceasefire.

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.

The EU’s chief has said she is ready to move “swiftly” to agree a trade deal with the United States, but says the bloc needs until 9 July to agree a “good deal”.

President of the European Commission Ursula von der Leyen said she had a “good call” with US President Donald Trump on Sunday, two days after he expressed frustration with the pace of negotiations with the EU and threatened to impose 50% tariffs.

Trump last month announced a 20% tariff on most EU goods, but later halved it to 10% until 8 July to allow time for negotiations.

Von der Leyen said Europe was “ready to advance talks swiftly and decisively” and “to reach a good deal, we would need the time until 9 July”.

In remarks to reporters at the White House on Friday afternoon, hours before talks with the bloc, Trump said he planned to raise tariffs on all goods sent to the US from the EU to 50% by 1 June, citing impatience at negotiations.

Later on Friday, the EU’s trade chief Maroš Šefčovič reaffirmed the bloc’s commitment to securing a fair deal.

Following a call with US Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick, he said: “The EU’s fully engaged, committed to securing a deal that works for both.”

He continued: “EU-US trade is unmatched and must be guided by mutual respect, not threats. We stand ready to defend our interests.”

Trump has long criticised what he views as an unfair trade relationship with the EU, despite the bloc being one of Washington’s largest trading partners. Last year, the EU exported more than $600bn (€528bn; £443bn) in goods to the US while importing $370bn worth, according to US government data.

The president has specifically raised concerns on trade in cars and agricultural goods. Although some tariffs were paused earlier this year to allow for negotiations, a 25% levy on EU steel and aluminium remains in place.

European leaders continue to warn against escalation. France and Germany have called for a diplomatic solution, stressing that tariffs would harm both economies.

The EU has threatened – and paused – its own measures against the US.

It said it would introduce a 25% tariff on €18bn ($20bn; £15bn) worth of US goods coming into Europe, but this was put on hold.

The bloc is also currently consulting on additional measures against US imports into the US valued at €95bn.

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.

Robert Lewandowski scored twice as La Liga champions Barcelona wrapped up their domestic treble-winning season with a comfortable victory at Athletic Club.

Having sealed their 28th league title with two games to spare, Hansi Flick’s men scored their 100th goal of the league campaign with the 14th-minute opener.

Lewandowski expertly chipped home goalkeeper Unai Simon, before he doubled the lead only three minutes later, arriving at the back post to head home following Raphinha’s inswinging corner.

The goals were his 27th in the league and 40th overall this season.

Substitute Dani Olmo sealed the victory from the penalty spot in the fourth minute of added time as Barca finished the campaign with 88 points from 28 wins and four draws.

They finished four clear of Real Madrid as German Flick won the La Liga, Copa del Rey and Spanish Super Cup titles during his first season in charge of Barca.

Despite his side’s first-half dominance, Athletic Club had two good chances to reduce the deficit before the break – both falling to Maroan Sannadi, who should have done better.

The 24-year-old striker failed to hit the target from six yards out after getting on the end of Unai Nunez’s cross.

Sannadi then poked wide with only visiting goalkeeper Inaki Pena to beat after being played through on goal by his captain Oscar de Marcos, who was making his 570th and final appearance for the Bilbao outfit.

Lewandowski, who has only Real Madrid’s Kylian Mbappe (31) ahead of him in the La Liga scoring charts this season, passed up chances to complete his hat-trick early in the second half.

Athletic Club went close again when Barca centre-back Pau Cubarsi’s defensive header from Alex Berenguer’s free-kick rattled the crossbar.

De Marcos received a standing ovation from the San Mames crowd as he was substituted in the 89th minute, passing the captain’s armband to future captain Inaki Williams.

But it was Barca who had the last word as Olmo scored from the spot in the stoppage time after he was brought down in the box by Yuri Berchiche.

The hosts, who had secured their Champions League qualification before the final day, finished fourth, level on 70 points with fifth-placed Villarreal.

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.

Residents and regular users of the Denchembuoso-Techiman stretch in the Kwadaso Municipality of the Ashanti Region are calling on the government to urgently fix their roads, as the conditions continue to deteriorate.

Over the years, community members have struggled with severe dust pollution due to the abandoned road project, as contractors have left the construction site. The situation worsens during the rainy season, further affecting residents’ daily lives.

The Denchembuoso-Techiman road, a major link connecting Atwima Boko, Twedie, Ofoase, Trabuom, and surrounding communities, has remained in a deplorable state for years, hampering development in the area.

The road was upgraded in 2019 and was expected to be completed within two years. It forms part of the 16.2-kilometre Kwadaso to Trabuom road, which was awarded to Asabea Engineering Limited.

However, the project has stalled for several years.

According to residents, the abandoned road is negatively affecting their daily lives and businesses.

“If you sit in a commercial vehicle, you won’t have peace. The dust is affecting our lives here. Look at where the market is, if someone is selling roasted plantain or yam, and you buy some other, it means you are buying sickness.

“Sometimes the chiefs will be in the palace, and the residents will come complaining about the dusty road. The town is not far from Kumasi, yet as if you have travelled to a village,” Nana Tie-Bonsu Ansah II, Linguist for Atwimahene, told Citi News.

“We have been left behind because we don’t have anyone to help us. The contractor asked us to move our containers to enable him to construct the road, yet he has abandoned the road, leaving us to struggle with the dust here,” another resident said, Akosua Bonsu.

“The dust is affecting our lives here. My business has collapsed as a result of the poor condition of the road,” Nana Yaa Kyerewaa, Business owner, said

Residents are thus appealing to the government to urgently intervene and fix the poor road conditions.

Drivers and commuters using the road also shared their frustrations and called on the government to address the challenges they face.

“The road has been in this terrible state, which is affecting us. Sometimes we end up damaging our springs. Every four days in a week, I have to go visit a mechanic to work on my car due to the poor roads. We are calling on the government to come to our aid,” Tony Bekumah, a driver, said.

“Everyday we have to go for maintenance. The contractor has abandoned the site, and the road is affecting us. We are urging the government to help us construct the road to avert the challenges we are going through,” said another driver, Alex Nyarko.

“The nature of the road is affecting the drivers and us, the commuters, as well. Travelling from here to Kejetia is about fifteen minutes, but because of the current condition of the road but we now take about an hour for that. We are appealing to the government to help us,” said Isaac Donkor, a Commuter.

Meanwhile, the Assembly Member for the area, David Asare, lamented the current state of the road and appealed to the government to intervene and resolve the issue.

“The road has been abandoned, and dust is killing us in this community,” he added.

For his part, the Odikro and Nifahene of Atwima Techiman, Nana Afriyei Takyi, expressed his frustration over the state of the roads and urged the government to construct them to boost development in the area.

“The council members of the community met to find ways to address the challenges with the contractor. Here is Atwima Denchembuso, if it rains right now, you can’t stand where we are now. What we want is to get good roads. If the roads are in good shape, it will attract investors and also create jobs for the people in this community. Even if you bring an investor or business here, it won’t thrive because of the poor condition of the road.

“We, the chiefs, have lands to attract investors but the road is hampering that development. If the government is listening to us, the chiefs are urging for its intervention and address the Denchembuso Techiman, Twidea road,” he said.

Mahama calls for collaboration to address rising indiscipline in SHSs