By Iddi Yire  

Accra, June 16, GNA – Mr Anthony Joshua, a renowned British professional boxer on Monday called on President John Dramani Mahama at the Presidency in Accra. 

Mr Anthony Joshua is currently in Ghana, to participate in the “Battle of the Beasts” boxing event, which is being spearheaded by Legacy Rise Sports at the Bukom Boxing Arena in Accra. 

The event is being promoted by Legacy Rise Sports, which is owned by Sharaf Mahama, the son of President Mahama. 

The event is part of Legacy Rise Sports’ efforts to elevate boxing in Ghana and across Africa. 

Mr Anthony Joshua was accompanied by Mr Kofi Iddie Adams, the Minister of Sports and Recreation, and Mr Sharaf Mahama, Chief Executive Officer of Legacy Rise Sports. 

President Mahama in his remarks noted that reviews from Friday’s game during “Battle of the Beasts’ at Bukom Arena had been positive. 

He said talents exist in some, but a champion usually emerges and changes his society. 

“We wish that Anthony will become great again; we’ve seen many greats fall and hopefully he comes back stronger.” 

He said Ghana had been a powerhouse in boxing since the First Republic, but the sport declined over time; however, the Government tried hard to revive it, and that was why they built the Bukom Arena.  

He said the dream was built on the hope that they could scout and find new talent but that didn’t happen.  

“One of my regrets is that we didn’t build the Bukom Boxing Arena bigger. We need a much bigger space following the growing interest,” the President said. 

On son, Sharaf’s passion sports, the President said Sharaf had been passionate about sports since childhood. 

“He knew the footballers, their wives, even their kids. I allowed him to pursue his passion. He started with football, then moved into boxing,” President Mahama said. 

“I truly believe we can raise future world champions.” 

The President said Mr Anthony Joshua would be their ambassador for boxing in Africa, and that Ghana was his second home; saying “If you want a passport, we’ll gladly give you one”. 

Mr Kofi Iddie Adams, the Minister of Sports and Recreation, highlighted some achievements of President Mahama in the sports sector. 

He said the sports sector had responded positively to the support given under Mahama’s leadership. 

He noted that parts of the Bukom Boxing Arena, especially the hostels meant for an academy, were not used for their intended purpose. 

The Minister reiterated that football was performing well, and athletics is gaining international recognition. 

He said last Friday, Ghana became the centre of global boxing activity through the Legacy Rise Sports event. 

Mr Anthony Joshua held the unified world heavyweight championship twice between 2016 and 2021.  

At regional level, he held the British and Commonwealth heavyweight titles from 2015 to 2016. 

On his part, Mr Anthony Joshua expressed gratitude for the warm reception accorded him since he arrived in the country. 

He said, he was amazed by the culture and the reception he had received. 

“I understand some of your Policies and what you’re trying to do to revive sports in Ghana,” he said. 

Mr Anthony Joshua said he was branching into a sector where they could connect Africa to the rest of the world. 

GNA 

Edited by George-Ramsey Benamba

The GPPCA says the move will help resolve the country’s textbook shortage

The Ghana Printers and Paper Converters Association (GPPCA) has lauded President John Dramani Mahama’s recent directive mandating that all government textbooks be printed locally.

According to a statement signed by its president, James Appiah-Berko, the GPPCA described this move as a strategic step toward resolving the country’s persistent textbook shortage and boosting the local print industry.

To capitalise on the initiative, the GPPCA suggested a series of steps the government could take, including eliminating all pre-production tariffs, suspending agreements that flood local markets with imported books, and imposing levies on imported textbooks.

“Government should take advantage of this provision to impose some levies on imported books, thus providing stability within the local printing industry,” it stated.

The association affirmed its readiness and capacity to support the government in this initiative.

“In a previous major contract cycle, only three out of many capable local printers managed to produce and deliver the entire consignment, proving technical competence, operational readiness, and national commitment,” the statement continued.

The GPPCA also highlighted the potential of the 24‑hour economy, stating that many printing firms currently operate under capacity, with equipment idle outside a single shift.

“Printers can work in the envisaged 3-eight-hour shift system, given that most printing and package production companies are under-utilising their capacity, with machines lying idle for want of printing and packaging job contracts,” the statement said.

Looking ahead, the GPPCA is requesting that the government pass legislation requiring 100% local sourcing for government printing needs, remove all exemptions on imported finished printed goods, and foster a business-friendly environment that enables local printers to expand, create jobs, and increase tax remittances.

The statement concluded by reaffirming the GPPCA’s readiness to collaborate with relevant government agencies to ensure the effective rollout of this landmark policy.

“GPPCA is committed to building strong relationships with key stakeholders, particularly the Ministry of Finance, the Ministry of Education, and other industry partners to effectively advocate for and sustain trust and support for the effective implementation of the President’s revolutionary drive,” it concluded.

ID/MA

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Supreme Court judge nominee, Justice Sir Dennis Dominic Adjei, has cautioned against allowing personal religious beliefs to influence judicial decisions, particularly in cases involving same-sex rights and other sensitive matters.

Appearing before Parliament’s Appointments Committee on Monday, June 16, 2025, Justice Adjei stressed the importance of judicial impartiality, noting that judges are bound by their constitutional oath to interpret and apply the law fairly to all.

“When we talk about our faiths—whether Christian, Muslim, or any other—it is a personal matter,” he said. “But when you are in the courtroom, you have taken an oath to be impartial, regardless of who appears before you. Once I put on my judicial cap, I must act according to that oath.”

Responding to a question about his ability to rule fairly on LGBTQ+ matters, considering his active role in the Catholic Church, Justice Adjei stated that his faith would not affect his legal reasoning or judgments.

He explained that in his current role as a judge at the African Court on Human and Peoples’ Rights, he has handled numerous complex and rights-based cases, including those concerning sexual orientation, always adhering strictly to legal principles.

“If any matter comes before me, whether it concerns same-sex issues or something else, I will consider the facts and apply the law. My faith will not influence the outcome,” he affirmed. “Anything else would be a failure to discharge my duty as a judge.”

Justice Adjei warned that allowing religion to guide court decisions could erode confidence in the justice system and lead to sectarianism within the judiciary.

“If faith were to guide judgments, then each religious group might want someone on the bench to speak for their interest. That should not be the case,” he stated.

Ofori-Atta’s cancer surgery successful – Wife

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The family of Stephen Ayensu Ntim, National Chairman of the New Patriotic Party (NPP), has requested his temporary withdrawal from all party duties, citing deteriorating health and the need for urgent medical attention and rest.

In a letter addressed to the Chairman of the NPP Council of Elders and dated June 16, 2025, the Ntim family emphasized Mr. Ntim’s long-standing dedication to the party, tracing his contributions from his early days as the First National Deputy Chairman to his current leadership role.

However, they expressed grave concern over his recent health complications, describing him as “not well at the moment” and currently experiencing “cognitive dissonance and mental incapacitation.”

The letter, signed jointly by key family members including Kingsley Oteng (Family Head), Adelaide Ntim (MP), and other close relatives, strongly opposed his participation in any party engagements, specifically a scheduled NPP meeting at Alisa Hotel on June 17, which Mr. Ntim was expected to chair.

They argue that attending or chairing such a high-profile event in his current state would not only be medically unsafe but could infringe on his personal rights.

“Common sense dictates that Steve, as a matter of urgency, be temporarily excused, not only from the rigors of active politics, but from intra-party activities in order to make way for needed peace and solace and for concentration on the ongoing required medical treatment process,” the letter read.

The family called on the NPP leadership to acknowledge the gravity of the situation and act in Mr. Ntim’s best interest by allowing him time to recover, while his future with the party remains under consideration

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.

Convener of Team Saglemi Not for Sale, Nana Otu Darko

A group calling itself ‘Team Saglemi Not for Sale’ has called on the government to hand over the Saglemi Housing Project to the Tema Development Corporation (TDC).

Addressing a press conference in Accra on Monday, June 16, 2025, the Convener of the group, Nana Otu Darko, argued that TDC, as a state-owned entity, possesses a proven track record, technical competence, and a strong public sector orientation.

He stated that TDC is best positioned to take over the project, citing the corporation’s expertise in project management, construction supervision, and urban development.

Darko referenced the successful execution of the Kpone Affordable Housing Project and other large-scale housing and infrastructure developments as evidence of TDC’s capability.

“We are therefore calling on the government to: (1) Halt any intended sale of the Saglemi Housing Project to private interests; (2) Officially hand over the project to TDC Ghana Limited for completion and public use; and (3) Provide the necessary financial and institutional support to TDC to enable swift resumption and completion of the project,” he said.

“We strongly believe this project must remain under public ownership and control and be completed for the benefit of ordinary Ghanaians. This aligns with the original vision of the previous government,” he added.

Otu Darko further emphasised that entrusting the project to a state-owned agency would ensure that taxpayer funds are properly utilised and that the housing units remain accessible to Ghanaians at affordable prices.

Background of the Saglemi Housing Project

Initiated in 2012 by the National Democratic Congress (NDC) government, the Saglemi Affordable Housing Project was intended to deliver 5,000 residential units to help address Ghana’s housing deficit.

Located in Prampram, in the Ningo-Prampram District of the Greater Accra Region, Phase One of the US$200 million project saw the construction of 180 blocks comprising over 1,500 flats. However, the project has since stalled, with the units remaining unoccupied for years.

Government’s recent actions

In September 2024, the New Patriotic Party (NPP) government announced plans to transfer the Saglemi Housing Project to a private developer.

This was disclosed by the Minister for Works and Housing, Kojo Oppong Nkrumah, at a press briefing in Accra on Monday, September 30, 2024.

He explained that the current value of work completed would be treated as the government’s equity in the project.

Under the arrangement, proceeds from the eventual sale of the completed homes would be shared between the government and the private partner, based on their stake in a newly established Special Purpose Vehicle (SPV).

The minister confirmed that five firms had submitted bids, with Quarm-LMI Consortium and Broll Ghana Limited shortlisted for final negotiations.

SA/MA

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play videoJustice Dzamefe advocates AI and virtual courtrooms to modernise Ghana’s judicial system

Supreme Court nominee Justice Senyo Dzamefe has made a compelling case for a comprehensive technological overhaul of Ghana’s judiciary.

He advocates for the urgent adoption of artificial intelligence, digital transcription tools, and virtual courtrooms to replace the country’s outdated manual systems.

According to him, Ghana’s judicial system faces challenges such as case backlogs, slow adjudication, and limited access to justice, particularly in remote areas.

During his appearance before Parliament’s Appointments Committee on Monday, June 16, 2025, Justice Dzamefe emphasised that the judiciary cannot continue to rely on handwritten records and analog processes if it aims to deliver justice efficiently and promptly.

“We must embrace technology. The era of lengthy handwritten records is over,” he stated.

Justice Dzamefe believes that adopting technology is essential for addressing these challenges and bringing the justice system into the digital age.

He argued that integrating tools like AI-driven transcription and voice recording systems would ensure that court proceedings are documented and accessible in real time, enhancing both transparency and speed.

“By the end of the day, once the court session is done, the records should be ready. We also need to go virtual, so people can testify online. We must be abreast with time; otherwise, we will be left behind,” he added.

If confirmed, Justice Dzamefe’s reformist approach is expected to drive efforts to modernize Ghana’s justice delivery system.

His remarks come amid increasing calls for judicial reform in Ghana, where the system is often criticised for inefficiency and poor access, particularly in rural areas.

Justice Dzamefe’s vision aligns with global trends, as many countries now utilise digital tools to streamline court operations, reduce human error, and expand access to justice.

His emphasis on virtual courtrooms also reflects lessons learned during the COVID-19 pandemic, when many jurisdictions adopted remote hearings as a standard feature of judicial practice.

If approved, Justice Dzamefe is expected to bring this reformist mindset to the apex court, helping to usher Ghana’s judiciary into the digital age.

NAD/MA

Meanwhile, watch as victims of the June 3 disaster decry 10 years of neglect by the state:

As the sun sets over Accra’s bustling markets, Adwoa, a 38-year-old trader in Makola, one of Ghana’s busiest markets counts her daily earnings. She has big dreams to expand her business, hire more women, and provide education, health, food, and a better life for her children. But like thousands of women across Ghana, she faces an insurmountable hurdle: access to affordable credit.

Traditional banks demand collateral she does not have, and microfinance institutions and commercial banks impose crushing interest rates that drain her profits. She also lacks financial (literacy) training, reducing her ability to manage and scale businesses effectively. It is for women like Adwoa that the newly elected National Democratic Congress (NDC) government, led by H.E. John Dramani Mahama and viced by the first female Vice President in the history of Ghana; H.E. Prof. Naana Jane Opoku Agyemang, has pledged to establish a Women Development Bank (WDB).

The bank is intended to be a financial lifeline for women entrepreneurs, offering low-interest loans, technical assistance, capacity-building and mentorship programs, business support and advisory services, and mechanisms to regularly monitor the business performance of the women entrepreneurs. However, turning this ambitious promise into reality requires significant funding. Ghana is currently facing significant fiscal constraints, with its total public debt (as at November 2024) standing at $47.9 billion (GH₵736.9 billion), which represents 72.2% of the country’s Gross Domestic Product (GDP). This debt burden is comprised of external debt amounting to $27.6 billion (GH₵425.3 billion), accounting for 57.6% of the total debt, and domestic debt of $20.3 billion (GH₵311.7 billion), making up the remaining 42.4%. The high debt-to-GDP ratio underscores the government’s limited fiscal space for new expenditures, necessitating innovative financing mechanisms such as gender bonds to fund critical development initiatives, including the establishment of the Women Development Bank.

What Are Gender Bonds and Why Do They Matter?

Gender bonds, a subset of social bonds are fixed-income financial instruments issued to raise capital exclusively for interventions/initiaves that promote gender equality and women’s economic empowerment. These bonds are attractive to impact investors, venture capitalists, development finance institutions, and Environmental, Social, and Governance (ESG )funds that are increasingly looking to invest in initiatives that empower women. Countries like Rwanda, Morocco, South Africa, Tanzania, Chile, and Japan have successfully issued gender bonds to fund programs that provide financial support for women-led enterprises. The African Development Bank (AfDB) and the International Finance Corporation (IFC) have also backed gender bonds as a viable tool for economic transformation​​. For Ghana, issuing gender bonds would mean harnessing global capital markets to finance the Women Development Bank without overburdening the national budget because the interest payment (however low it is) by women entrepreneurs would be used to offset the bonds. This is highly possible because evidence has shown that loan repayment rates among women are higher and they are less likely to default on loans as compared to men. That is what makes gender bonds self-financing. But how can this be done effectively?

A Structured Approach to Issuing Gender Bonds in Ghana

The government must approach this strategically, ensuring that the bond issuance is attractive to investors while aligning with international best practices. The following steps outline how gender bonds can be successfully used to establish the Women Development Bank:

1. Designing the Gender Bond Framework: The first step is to clearly define how the proceeds from the bond will be used. The government should structure the bond as a Use-of-Proceeds Bond, meaning that all funds raised will be earmarked specifically for financing loans, grants, and financial literacy programs for women entrepreneurs. Additionally, Ghana can introduce Sustainability-Linked Bonds (SLBs), where the interest rates are tied to performance indicators, such as:

• The number of women receiving loans.

• The percentage of funds allocated to rural women-led businesses.

• The repayment success rates among women borrowers.

By linking bond performance to tangible gender-equality outcomes such as percentage increase in loans disbursed to women-led entreprises; reduction in interest rates for women borrowers; number of new financial products tailored for women entrepreneurs; number of rural women entrepreneurs gaining access to credit and formal banking services; investment in women-friendly business hubs; expansion of digital and mobile banking solutions for women; number of women trained in financial literacy and business management; percentage of loan recipients completing training programs; and establishment of mentorship and support networks for women entrepreneurs, Ghana can attract development finance institutions and ESG-conscious investors seeking measurable impact​​.

2. Targeting the Right Investors: To successfully raise capital, the government must engage key investors such as:

• Multilateral Development Banks: The World Bank, African Development Bank (AfDB), and International Finance Corporation (IFC) have all supported gender bond issuances globally​.

• Institutional Investors: Pension funds, insurance firms, and sovereign wealth funds that prioritize ESG investments can be potential buyers.

• Private Sector Players: Companies with strong corporate social responsibility (CSR) mandates can invest in the bond as part of their impact portfolios.

• Philanthropic Organizations and Women-focused Investment Funds: Groups such as UN Women, Women Entrepreneurs Finance Initiative (We-Fi), and the Orange Bond Initiative are actively funding women’s financial inclusion projects​.

3. Strengthening the Regulatory and Legal Framework

To attract international and domestic investors, Ghana must align its bond issuance with globally accepted standards. The International Capital Market Association (ICMA) Social Bond Principles provide guidelines on transparency, accountability, and the appropriate use of proceeds​. Additionally, the government should work with the Bank of Ghana, the Securities and Exchange Commission, and Parliament of Ghana to ensure legal backing for the bonds, making them a secure investment option.

4. Establishing an Independent Monitoring and Evaluation Mechanism

A crucial factor in the success of gender bonds is investor confidence. To ensure transparency, Ghana should establish an independent Gender Bond Oversight Committee comprising:

• Representatives from the Ministry of Finance, the Minisry of Gender, Children, and Social Protection, the Bank of Ghana, the Securities and Exchange Commission, and the Parliament of Ghana.

• Independent Financial Experts.

• Women’s Rights Organizations.

• International Development Partners.

This committee will oversee fund allocation, track impact, and publish regular progress reports. Investors will be more likely to participate if they see clear accountability measures in place​.

Learning from Global Success Stories

1. Asia – The Asian Development Bank’s Gender Bond Initiative: Since 2017, the Asian Development Bank (ADB) has raised over $3.65 billion through gender bonds to fund projects that empower women. The proceeds have supported women entrepreneurs, gender-focused education programs, and financial inclusion initiatives​.

2. Rwanda – Gender Bond for Women Entrepreneurs: Development Bank of Rwanda (BRD) in 2023 issued a $24 million gender bond to finance low-interest loans for women entrepreneurs. The program has successfully increased loans to women-led businesss by 30% and reduced gender disparities in business financing. In a unique arrangement, BRD, through the Government of Rwanda, utilised USD10 million in World Bank funds to collateralise the bond. Held in escrow, investors would take ownership of the collateral in the event of a default.

3. Morocco – Supporting Women Entrepreneurs Through Microfinance: In 2021, Banque Centrale Populaire (BCP) of Morocco issued a MAD 200 million ($21 million) gender bond in a private placement to finance women-led micro, small, and medium enterprises (MSMEs). The proceeds were directed to Attawfiq Microfinance, a subsidiary focused on providing accessible financial services to women entrepreneurs, particularly in rural and underserved communities. By removing traditional financial barriers, this initiative empowered women to expand their businesses, create employment opportunities, cater for their families, and contribute to Morocco’s economic growth.

4. Tanzania – Expanding Credit for Women-Owned Businesses: Tanzania has emerged as a leader in gender bond financing with two significant issuances by NMB Bank. In 2022, the bank launched the TZS 75 billion ($32 million) Jasiri Gender Bond, aimed at providing affordable credit to women-led MSMEs. The initiative was followed by the TZS 400 billion ($159 million) Sustainability Bond in 2023, which integrated gender financing into a broader framework supporting education and social impact projects. By utilizing these bonds, Tanzania significantly expanded women’s access to capital, addressing the persistent challenges of high collateral requirements and prohibitive interest rates in the financial sector.

5. South Africa – Incentivizing Gender Equality in Leadership: Unlike traditional gender bonds, South Africa introduced Sustainability-Linked Bonds (SLBs) that tied corporate financial performance to gender-based outcomes. In 2022, Barloworld issued a ZAR 1.1 billion ($65 million) SLB, committing to increasing women’s representation in leadership roles to 50% by 2025. Similarly, Rand Water’s 2021 ZAR 1.2 billion ($83 million) bond mandated that at least 45% of management positions be held by women. These financial instruments incentivized companies to embed gender diversity into their corporate structures, reinforcing the business case for gender-inclusive leadership in South Africa’s private sector.

6. Pan-Africa – A Multi-Country Approach to Women’s Financial Inclusion: In 2021, Ecobank Transnational launched a $350 million 10-year Sustainability Bond, dedicated to financing and refinancing women-led businesses across multiple African countries. This initiative allocated 25% of its proceeds to over 3,000 loans for women entrepreneurs, ensuring financial inclusion at a regional scale. By channeling funds into sectors where women traditionally face funding gaps, Ecobank’s bond played a crucial role in advancing gender-responsive financing across the continent.

7. Chile – Women-Focused Social Bonds: Chile became the first Latin American country to issue a gender bond backed by the Inter-American Development Bank (IDB). The funds provided financial support to over 20,000 women-led enterprises, demonstrating the power of gender bonds in driving economic transformation​.

The Impact of Gender Bonds on Ghana’s Women Development Bank

By issuing gender bonds to finance the WDB, Ghana can expect significant economic and social benefits, including:

• Access to at least $200 million in funding over five years.

• Loans for over one million women entrepreneurs, helping them expand their businesses.

• Job creation in both urban and rural areas, particularly in the informal sector.

• Financial literacy training for women, ensuring they can effectively manage and grow their businesses.

• Improved gender equality in financial services, closing the credit gap between men and women.

Turning Political Promises into Economic Realities

The establishment of a Women Development Bank is a bold step toward ensuring financial inclusion for Ghanaian women. However, political promises must be backed by financially sound and sustainable strategies. Gender bonds offer an innovative, practical, and globally recognized way to secure funding without further straining government resources. By drawing lessons from successful gender bond initiatives worldwide and tailoring them to Ghana’s economic landscape, the Mahama-led government can not only fulfill its promise but also position Ghana as a leader in gender-responsive financing in Africa. For Adwoa and millions of other women entrepreneurs, the Women Development Bank—funded through gender bonds—could mean the difference between a struggling business and a thriving enterprise. The time to act is now.

Writer: Julius Karl D. Fieve: Julius is an accomplished International Development Specialist with over 12 years of experience driving impactful initiatives across Africa. He is currently the Assistant Manager, Gender for FSD Africa – a Foreign, Commonwealth & Development Office (FCDO) financed Kenyan-based financial sector deepening organization. Julius holds two master’s degrees-an MSc in Africa and International Development from the University of Edinburgh, UK and an MSc in Economics from the Kwame Nkrumah University of Science and Technology (KNUST).

Ebenezer Nii Narh Nartey is a former Member of Parliament for Ablekuma Central

Former Member of Parliament for Ablekuma Central, Ebenezer Nii Narh Nartey, has criticised former officials of the National Service Authority (NSA) over the alleged misuse of National Service Scheme (NSS) funds, describing the conduct as shameful and exploitative.

Speaking on Joy Prime on Monday, June 16, 2025, and monitored by GhanaWeb, Nartey questioned the rationale behind the purchase of a luxury watch allegedly bought by former Deputy Director of the Authority, Gifty Oware-Mensah.

“If not to impress people, why would anyone buy a watch for $100,000? If it’s true, you buy a bag and go around displaying it. If I had that kind of money, I’d rather go to my hometown, invest it, and build a CHPS compound to take care of my people, and at the end of the day, gain something meaningful from it,” he stated.

Nartey, recounting his time with the Regional Coordinating Council (RCC), bemoaned the recurring delays in the disbursement of NSS allowances.

According to him, many service personnel were left stranded for months without pay, making it difficult for them to even afford transportation to their duty posts.

“Some of them would stay away from work for three or four days, not because they didn’t want to work, but because they didn’t have money for transportation,” he remarked.

The Attorney General and Minister for Justice, Dr Dominic Ayine, disclosed on Friday, June 13, 2025, that the government’s anti-corruption task force, Operation Recover All Loot (ORAL), has completed investigations into a complex fraud scheme at the NSA.

Dr Ayine alleged that the scheme, reportedly orchestrated by former Deputy Executive Director Gifty Oware-Mensah, involved the manipulation of NSS personnel lists to secure a bank loan using allowances meant for ghost names.

“Our investigations reveal that several ghost names were deliberately added to the lists submitted to vendors, falsely representing the number of service personnel,” he stated at a press conference in Accra.

He added that legal proceedings will soon commence as part of the government’s renewed efforts to clamp down on corruption in public institutions.

JKB/MA

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Deputy CEO in charge of Operations and Technical at PHDC, Onasis Rosely Kobby

The Deputy Chief Executive Officer for Operations and Technical at the Petroleum Hub Development Corporation (PHDC), Onasis Rosely Kobby, has emphasised that recent shifts in global geopolitics present a unique opportunity for Ghana to accelerate the development and operationalisation of its Petroleum Hub project.

In a social media post sighted by GhanaWeb Business, Kobby explained that the ongoing Israel-Iran conflict, expected to drive a surge in global oil prices, highlights the urgent need for Ghana and the West African sub-region to establish robust infrastructure that enhances regional resilience against unforeseen economic shocks.

Kobby projected that Ghana’s demand for petroleum products, which stood at 1.36 million metric tonnes in 2014, could double by 2040. This anticipated growth in demand represents a significant gap that a fully operational petroleum hub could address.

Extending his analysis to the sub-region, Kobby forecasted that oil demand among ECOWAS member states could reach 3 million barrels per stream day by 2040, creating a lucrative opportunity for Ghana.

“Ghana’s oil demand could double by 2040. Refining locally instead of importing would save billions in forex. Landlocked neighbors such as Burkina Faso, Mali, and Niger lack refining capacity, making Ghana well-positioned to capture the growing ECOWAS regional demand, which could reach 3 million barrels per day by 2040,” part of his post read.

“Energy Transition Strategy: Even in a net-zero scenario, Africa’s oil demand is projected to remain resilient beyond 2050. A modern refinery could adapt to produce biofuels and hydrogen-ready feedstocks,” he added.

With Africa’s oil production expected to grow until at least 2050, Kobby underscored Ghana’s strategic advantage as an ideal geographical hub for the distribution of petroleum and petrochemical products.

He urged the nation to fast-track its plans to develop a petroleum hub, stating, “For Ghana, this means that now is the time to build refining and storage capacities. ECOWAS’ dependence on imports presents a huge market opportunity, and Ghana’s strategic positioning can make it a regional energy hub.”

See the full post below:

SA/MA

Supreme Court judge nominee Justice Dennis Dominic Adjei has delivered a thought-provoking critique of Ghana’s legal framework, questioning the apparent inconsistency between the legal age for marriage and the age of sexual consent.

During his vetting before Parliament’s Appointments Committee on Monday, June 16, 2025, Justice Adjei posed a poignant rhetorical question that highlighted a complex societal and legal conundrum:

“If you cannot marry at 16? Why have sex at 16?”

Justice Adjei’s comment directly challenges the different age thresholds stipulated by various Ghanaian laws.

While Ghana’s Children’s Act of 1998 sets the minimum age for marriage at 18 years for both males and females, the Criminal Offences Act of 1960 pegs the age of sexual consent at 16 years.

This disparity means that a 16-year-old in Ghana can legally consent to sexual activity but is legally too young to enter into marriage.

The nominee’s inquiry brings to the forefront a long-standing debate among legal experts, child rights advocates, and social workers.

Critics argue that this legal gap creates vulnerabilities for minors, contributing to issues such as teenage pregnancies, child abandonment, and defilement that may not be adequately prosecuted if consensual sex at 16 is permitted while marriage is not.

Justice Adjei’s line of questioning during his vetting by the Appointments Committee, which scrutinises nominees’ legal philosophies, understanding of the law, and views on critical societal issues, suggests a call for a review and potential harmonisation of these legal ages.

His remarks are expected to reignite discussions on how best to protect young people in Ghana and ensure that legal provisions are consistent and serve the best interests of children.

The vetting process for Justice Adjei, a seasoned jurist known for his contributions to judicial training and human rights law, continues as Parliament assesses his suitability for a seat on the nation’s highest court.

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.

Dakar — Ghana is losing billions of dollars in revenue annually to smuggling from its booming artisanal gold mining sector with much of the gold flowing to the United Arab Emirates (UAE), according to a report by nonprofit Swissaid.

The report found a staggering 229 tonnes trade gap, equivalent to $11.4bn, between Ghana’s gold exports and corresponding imports over just five years, with most of the smuggled gold ending up in Dubai.

“This is just the tip of the iceberg,” said Ulf Laessing, head of the Sahel programme at Germany’s Konrad Adenauer Foundation, who analyses insurgency and artisanal mining operations in the region.

“Hand-carried gold does not have to be declared in Dubai … informal gold is mostly brought in on flights,” highlighting other opaque ways Africa’s gold is smuggled into the UAE.

The Swissaid report said Ghana’s gold is largely smuggled to Togo before ending up in Dubai while some bullion passes through Burkina Faso into Mali, using porous borders.

A senior official at Ghana’s regulatory Minerals Commission described Swissaid’s findings as “a notorious fact”.

Ghana’s finance ministry did not respond to a request for comment.

The report noted how a 3% withholding tax on artisanal gold exports imposed by Africa’s top gold producer in 2019 backfired dramatically, as declared exports collapsed while smuggling surged.

The government’s reduction of the tax to 1.5% in 2022 partially reversed the trend, with formal exports rebounding.

In March, Ghana’s finance minister scrapped the tax, subsequently praising policy reforms for a surge in artisanal exports this year.

An estimated 34 tonnes of the country’s 2023 gold output were undeclared — about the same amount recorded as the country’s total artisanal production for that year, according to the Swissaid report released on June 11.

Slow reforms

Ghana earned $11.6bn in revenue from gold exports last year and has stepped up reforms to centralise and clean up the trade.

Its experience mirrors a continent-wide pattern where Africa’s gold-producing nations consistently report lower exports than what importing countries, particularly the UAE, declare as receipts. Reforms by Dubai to curb gold smuggling have yielded limited results.

Informal mining provides livelihoods for more than 10-million people in Sub-Saharan Africa, according to a May UN report, but increasingly it serves as a funding channel for organised crime and armed conflict.

“While the new government has shown some willingness to fix some governance issues that have bedevilled the gold sector for years, and which were largely ignored by the previous administration, its pace has been quite slow,” said Bright Simons of Accra-based think-tank Imani Center for Policy and Education.

Reuters

IES says Ghana may experience a fuel price hike within the next two weeks

The Institute for Energy Security (IES) has cautioned that Ghana may experience a fuel price hike within the next two weeks, despite current stability in pump prices.

According to Nana Amoasi VII, Executive Director of IES, ongoing tensions in the Middle East are likely to drive up global petroleum prices, which could eventually affect fuel costs in Ghana.

Speaking on the Citi Breakfast Show on Monday, June 16, 2025, he noted that prices may remain stable, or even drop slightly, in the short term, but warned that a reversal is likely.

“We are going to experience some stability or even a drop in fuel prices from today going forward. However, because prices have started skyrocketing on the global market, we must prepare for a possible hike in the next two weeks,” he stated.

He added that while Ghana has limited control over global market trends, diplomatic efforts to resolve geopolitical tensions could help ease prices in the future.

DR/MA

Watch as ongoing GRNMA strike disrupts healthcare, leaves patients stranded

Meanwhile, BECE 2025 kicks off across Ghana as over 600,000 candidates sit exams