Finance Minister Dr. Ato Forson has announced plans for a comprehensive review of Ghana’s Value Added Tax (VAT) system, citing distortions that require urgent reform.

According to him, simply adjusting the VAT rate or removing certain components will not solve the structural issues within the tax regime.

Speaking on the government’s approach on The Point of View on Channel One TV with Bernard Avle on Wednesday, March 12, 2025, Dr. Forson revealed that Ghana has sought technical assistance from the International Monetary Fund (IMF) and is in the process of establishing a task force to work with the IMF’s recommendations.

“We see the entire VAT regime as a tax that has been distorted, and it will require a comprehensive review. If you only pick the rate and remove it, you are not solving the problem,” he stated.

He emphasized the need for a well-structured VAT system, pointing out an inconsistency in Ghana’s tax framework.

“I have never seen a country where you operate both sales tax and ad-valorem tax at the same time. No one does that. You choose one of the two,” he remarked.

The government aims to implement the VAT reforms by the end of the year, ensuring a more efficient tax system that aligns with international best practices.

Atletico Madrid’s Julian Alvarez had a penalty dramatically ruled out in the shootout as Real Madrid edged out their city rivals to reach the quarter-finals.

They will face Arsenal in the last eight, having kept alive their hopes of winning a record-extending 16th Champions League trophy.

Neither side could find a winning goal before the end of extra time after Conor Gallagher’s strike – just 27 seconds into the game – had levelled the tie on aggregate after Real’s 2-1 first-leg win.

That meant penalties were needed to determine the outcome and, after the first three had been converted, former Manchester City forward Alvarez stepped up to take Atletico’s second.

He slipped while taking it, but the ball ended up in the back of the net. While it was initially given, the successful spot-kick was subsequently ruled out by the video assistant referee (VAR), with Alvarez having been deemed to have touched the ball twice as he struck his effort.

Fede Valverde converted his penalty to put Real 3-1 ahead and although Atletico goalkeeper Jan Oblak saved Lucas Vazquez’s spot-kick to briefly give Atletico hope, Marcos Llorente hit the bar.

Antonio Rudiger then stepped up to squeeze home the decisive penalty to send Real through by a 4-2 margin.

Frustration for Atletico but Real march on

The outcome will be bitterly disappointing for Atletico after they had produced a brilliant defensive display for the majority of the match to limit Real to few chances.

They had made a dream start when England international Gallagher stabbed in following a rapid Atletico attack down the right, making history as the first Englishman to score in a Madrid derby.

Real could barely fashion a chance after that against a well-organised and disciplined home side, who had not lost a knockout tie at home since Ajax beat them in 1997.

At the other end, the lively Alvarez was denied three times by Thibaut Courtois.

Frenchman Kylian Mbappe had been kept largely quiet, but the one time he got free of his markers he burst through and won a penalty as he was brought down inside the box by Clement Lenglet.

Vinicius Jr, who had scored all of his previous seven penalties for Real, stepped up with the chance to put Real ahead in the tie once again with 20 minutes to go, but the Brazilian smashed his effort well over the bar.

There was nothing to separate the sides after that in a tense derby and Real, who beat Atletico in the 2014 and 2016 finals, maintained their 100% record against their fierce rivals in penalty shootouts to progress.

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Finance Minister Dr Cassiel Ato Forson has dismissed claims that Ghana’s improvement in its debt-to-GDP ratio is as a result of effective economic management by the previous government under Nana Addo Danquah Akufo-Addo.

Dr Forson clarified that the reduction in the debt-to-GDP ratio is largely due to the government’s decision last year to implement a 37 per cent principal haircut for euro bondholders. 

He explained that if the original bond value was ₵10 billion, this amount was effectively reduced to ₵3.7 billion, significantly lowering the country’s debt burden.

In addition, the accrued interest on these bonds, which was also subject to a 37 per cent reduction, was wiped out, further contributing to the decrease in the debt-to-GDP ratio. 

Dr Forson emphasized that, despite these measures, there is no cause for celebration, as they were “just haircuts given to some citizens.”

The Finance Minister was responding to questions regarding the decrease in Ghana’s debt-to-GDP ratio and how it aligns with his claims of inheriting a struggling economy from the previous administration. He made these remarks during an interview on The Point of View with Bernard Avle on Channel One TV on Wednesday, March 12, 2025.

“So, first of all, the debt to GDP has only come down not because of the work or something that NPP has done.  Or the previous administration did,” he said.

“The debt to GDP has dropped because last year the government gave bondholders, euro bondholders, 37 per cent principal haircut. So the euro bond at the time, if it was ₵10 billion, ₵3.7 billion were wiped out. Completely wiped out last year and the interest that had accumulated over the period, another 37 per cent were also wiped out and so, I don’t know whether they are celebrating the haircut they gave to some citizens,” he stressed.

“And remember, this haircut will not be given to foreigners. There are certain domestic banks that invested heavily in Ghana’s euro bond. There are certain Ghanaian individuals who, through their sweat, had accumulated so much resources and decided to invest in the Ghanaian economy. Instead of the government producing expenditure, the government gave them unparceled by burden. These individuals were invested into the economy and so they decided to reduce their investment by 37 per cent,” he explained further.

Dr Forson also clarified that this haircut will not apply to foreign bondholders, noting that some domestic banks had invested heavily in Ghana’s euro bonds.

“There are certain Ghanaian individuals who, through their sweat, had accumulated so much resources and decided to invest in the Ghanaian economy. Instead of the government producing expenditure, the government gave them unparceled by burden. These individuals were invested into the economy and so they decided to reduce their investment by 37 per cent,” he said.

“So that is the reason why the debt to GDP has dropped but, my brother, Bernard, look at the GDP very carefully and ascertain where the growth is coming from. It will surprise you to know that the growth that we’ve seen, the bulk of it, is coming from mining,” he added.

Ghana’s debt-to-GDP

Ghana’s debt-to-GDP ratio has experienced fluctuations in recent years, reflecting the country’s economic challenges and fiscal policies. 

In 2020, the ratio peaked at approximately 80.4 per cent. However, by 2024, there was a notable decrease, with reports indicating a reduction to 61.8 per cent.

In his presentation of the 2025 Budget Statement on Tuesday, March 11, 2025, Dr Forson emphasized the government’s commitment to continuing these efforts, which include significant cuts in public spending. 

These measures, alongside a broader economic restructuring programme, he said have played a key role in improving Ghana’s fiscal health.

Looking forward, forecasts suggest a continued positive trend. Projections indicate that Ghana’s debt-to-GDP ratio will decrease by a total of 15.6 percentage points between 2024 and 2029, reaching approximately 66.92 per cent by 2029, according to statista.com.

These developments reflect Ghana’s ongoing efforts to manage its public debt effectively while striving for economic stability and growth.

Finance Minister Dr Cassiel Ato Forson has accused the former Akufo-Addo administration of misleading Ghanaians about the true state of the economy, resulting in unrealistic expectations among the public.

He asserted that the financial challenges inherited by the Mahama-led government were far worse than initially portrayed.

Speaking on Channel One TV on Wednesday, 12 March, a day after presenting the 2025 Budget, Dr Forson explained that the previous government had not been transparent about Ghana’s economic difficulties.

He noted that upon assuming office, the full extent of the crisis became evident, contradicting claims of economic stability made by the former administration.

“We believed that the economy was showing signs of improvement, only to assume office and discover the true magnitude of the problem,” Dr Forson stated.

“I have always maintained that the government at the time failed to provide an accurate picture of the economy’s real condition.”

He further argued that economic policies implemented under the former administration did not reflect genuine recovery, making it difficult for the country to navigate its financial challenges.

The Finance Minister also criticised the political establishment for failing to fully disclose the extent of Ghana’s financial troubles.

He called for a more transparent approach to governance, stressing the importance of honest discussions on the nation’s economic challenges.

According to him, only through openness and well-structured policies can Ghana find sustainable solutions to its financial crisis.

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Featured

Kweku Zurek

Business News

Mar – 12 – 2025 , 21:53

Unemployment in Ghana remains a big challenge. According to the Ghana Statistical Service, Ghana’s average unemployment in 2023 was estimated at 14.7%. The inability of the economy to be aggressively productive means unemployment stands as a critical problem for the youth, especially.

This situation calls for innovative ways to create sustainable jobs for a growing base of unemployed. One solution can come from the exploitation and exploration of AI which can generate new jobs, foster economic growth, and position Ghana as a leader in Africa’s digital economy. Ghana’s young and fast-growing tech-savvy population provides a unique opportunity for the creation of AI jobs that will lead to the country’s social and economic transformation.

This calls for a clear-cut strategy and human capital implementation plan which should be anchored on a baseline and the development of a dynamic curriculum to be translated into job relevant for formal (in schools) and informal (in apprenticeships etc.) groups of young people.

The formulation of AI human capital development strategy should be informed by the contextualisation of how AI can contribute to the displacement of certain jobs and the creation of new jobs. Therefore, there is the need to ensure the plan is not simplistic but reflects the situation today and a prediction of AI’s state of play in coming years.

Beyond the plan, it is imperative to note that AI jobs cannot be a stand-alone; they can only happen if Ghana drives innovation across the board, enhances productivity, and invests in opening the country to new economic opportunities.

There are two broad job opportunities in AI, the direct AI jobs and indirect AI jobs. Today in Ghana, there are only few direct AI jobs and rather more indirect AI jobs; job opportunities facilitated using AI.

Some indirect AI jobs could come from AI-Driven opportunities such as using AI to transform sectors like agriculture, healthcare, fintech, and education, creating the demand for AI specialists, data analysts, and automation engineers working in these sectors.

Also, AI-powered solutions can help Ghanaian entrepreneurs and startups launch businesses in e-commerce, smart farming, and digital finance, leading to job creation.

In the meantime, AI is creating multiple new job roles including roles  for Data Analyst/Scientist who interpret large datasets to drive insights in all sectors; AI/Machine Learning Engineers tasked with developing and optimizing AI models and algorithms for practical use cases,  AI Solutions Architect who design and integrate AI systems to enhance operational efficiency across all sectors and professional AI Consultants who advise businesses on integrating, optimizing, and ethically implementing artificial intelligence solutions to improve efficiency, decision-making, and innovation.

For example, an AI-driven agricultural consultant can advise farmers on how they can best utilize AI for precision farming, optimizing crop yields, and improving resource management in agriculture.

Double edge Sword

A discussion of AI direct and indirect jobs creation cannot be concluded without understanding the role of AI in destroying some jobs and reshaping the job market.

For example, AI automates tasks that were traditionally performed by humans, particularly those that are repetitive or rule-based. Some argue that it is more accurate to say that AI is transforming or displacing certain roles rather than “destroying” them.

Some jobs notably impacted by AI are Customer Service Roles, where AI-powered chatbots and virtual assistants increasingly handle routine inquiries, reducing the need for many call centre agents. Therefore, the goal of having Business Processing Outsourcing (BPOs) strategy for job creation is no longer attractive.

Also, Data Entry and Administrative Positions are impacted since automated systems powered by AI can process and manage data faster and more accurately, leading to fewer roles focused solely on data entry or routine administrative tasks.

The rise of Robotics and AI-driven automation in manufacturing processes is fast replacing manual labor in repetitive and physically demanding tasks, and smart manufacturing means fewer and fewer jobs at these factories.

Further, financial and insurance sectors previously rely on a huge number of workers to help with basic analytical and financial processing tasks, which are now increasingly handled by AI algorithms, which can process large volumes of data more efficiently than humans.

Also, the rapid advancements in autonomous vehicles and drones are beginning to impact jobs in driving, delivery, and logistics as machines take over tasks that once required human operators.

For example, in Ghana, the drone delivery of medical supplies means the army of persons providing these services is no longer necessary.

Although we acknowledge the fact that AI holds great potential to “destroy” or significantly negatively impact some jobs, it is imperative to note that the evolution of AI also creates opportunities for new types of jobs, which often require advanced technical skills or roles that oversee, supervise, operate and manage AI systems.

This transformation calls for reskilling and upskilling efforts for existing workers to ensure they can transition to these emerging opportunities. At the same time, there is the need to reimagine how we educate and train new persons entering the job market so that they are the best fit for emerging job opportunities. 

Therefore, the government working hand-in-hand with the private sector must implement an AI Upskilling & Workforce Development that encourages and facilitates workforce upskilling in AI.

Government of Ghana could invest in training the next crop of AI trainers and educators, setting the country as the AI training capital of Africa, providing both online and face-to-face academic and non-academic courses, including professional, diploma, bachelor, Master, PhD and post-doctoral courses Given Ghana’s current credentials as a centre of excellence in the provision of high-quality education and training, achieving this goal is possible.

In conclusion, while Ghana benefits immensely from AI job opportunities, the realization of this potential hinges on developing and implementing well-thought-out policies, substantial investments in human capital, and creating an enabling environment supported by robust infrastructure.

Dr. Kwami Ahiabenu, the writer, is a Technology Innovations Consultant. You can reach him at [email protected]

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Finance Minister Dr. Ato Forson has credited the decline in Ghana’s debt-to-GDP ratio to debt restructuring efforts, particularly last year’s 37% Eurobond principal haircut, rather than the economic policies of the previous government.

Speaking on the Point of View on Citi FM on Wednesday, March 12, 2025, Dr. Forson explained that the drop in Ghana’s debt burden was largely due to the government writing off 37% of Eurobond principal owed to investors.

Additionally, accumulated interest on these bonds was slashed by another 37%, significantly lowering the country’s debt obligations.

“Debt-to-GDP has only come down not because of what the previous government has done, but because last year the government gave Eurobond holders 37% principal haircuts,” Dr. Forson stated.

“I don’t know whether they are celebrating the haircut they gave to investors,” Ato Forson said.

Ghana reached a debt restructuring agreement with Eurobond holders, resulting in a 37% haircut on the principal of $13 billion of its debt, a significant milestone in the country’s economic recovery efforts.

The agreement resulted in a 37% reduction in the nominal value of Ghana’s debt, equivalent to a US$5 billion reduction.

Speaking during the presentation of the 2025 Budget Statement in Parliament on Tuesday, 11th March, Dr. Ato Forson highlighted the progress made in managing the country’s debt burden.

“The debt-to-GDP ratio reduced drastically in 2024, reflecting our commitment to restoring macroeconomic stability and ensuring a sustainable debt trajectory,” he said.

He further noted that Ghana’s economic performance had exceeded expectations despite prevailing global financial challenges.

Ing. Bismark Otoo, Accra East Regional General Manager of ECG and ECG MD Ing. Kpekpena

The Accra East Region of the Electricity Company of Ghana (ECG) has been recognised as the overall best-performing region among ECG’s operational areas for the year 2024.

Following a comprehensive evaluation of performance across ECG’s ten operational regions, Accra East emerged as the top-ranked region, having successfully met all key performance indicators (KPIs) outlined in the regional and district performance contracts.

During his visit to the Accra East Region and Sub-Transmission Accra on Monday, March 10, 2025, Acting Managing Director, Ing. Kwame Kpekpena, presented a plaque of honor and a trophy to the region in recognition of its outstanding achievements in operational efficiency, customer service, and sustainable growth throughout 2024.

Receiving the award on behalf of the region, Regional General Manager, Ing. Bismark Otoo, expressed gratitude to the MD and ECG management for acknowledging their efforts.

He pledged the region’s continued commitment to excellence and further contributions to ECG’s growth.

Additionally, District Managers Mrs. Emma Kwofie (Roman Ridge) and Ing. Felix Larsey (Teshie) were honored with plaques for their exceptional leadership in meeting their respective districts’ performance targets in 2024.

As part of the ceremony, all District Managers signed their 2025 District Performance Agreements, renewing their contracts for the year. The evaluation for the 2025 performance agreements will be based on five key performance indicators (KPIs) including:

Customer-Centric District Activities

Revenue Collection Enhancement

Human Resource Development and Optimization

Inventory Management and Prioritization

Stakeholder Engagement

MA

President John Mahama has sworn in newly appointed Deputy Ministers at the Jubilee House in Accra.

This March 12 event at the Jubilee House marked their official assumption of duties in support of their respective substantive ministers.

The ceremony followed the successful vetting and approval of the nominees by Parliament’s Appointments Committee, chaired by Mr. Bernard Ahiafor.

After a thorough review process, Parliament unanimously endorsed the nominees, clearing the way for their official induction into office.

The approved appointees and their respective ministries are as follows:

• Ministry of Finance: Thomas Nyarko Ampem
• Ministry of the Interior: Ebenezer Okletey Terlabi
• Ministry of Defence: Ernest Brogya Gyenfi
• Ministry of Education: Clement Abas Apaak
• Ministry of Energy & Green Transition: Richard Gyan-Mensah
• Ministry of Roads & Highways: Alhassan Sayibu Suhuyini
• Ministry of Justice & Attorney General: Justice Srem-Sai
• Ministry of Lands and Natural Resources: Yusif Sulemana
• Ministry of Local Government, Chieftaincy and Religious Affairs: Rita Naa Odoley Sowah
• Ministry of Works, Housing and Water Resources: Gizella Tettey-Agbotui
• Ministry of Tourism, Culture and Creative Arts: Yussif Issaka Jajah
• Ministry of Food and Agriculture: John Kofi Setor Dumelo
• Ministry of Trade, Agribusiness and Industry: Samson Ahi

In addition to the deputy ministerial appointments, President Mahama also swore in Lydia Lamisi Akanvariba as Minister of State in charge of Public Sector Reforms.

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.

In a significant diplomatic gesture, Turkey’s Ambassador to Ghana, H.E. Huseyin Gungor, today paid a courtesy call on the Minister for Energy and Green Transition, John Abdulai Jinapor.

The meeting, held at the Minister’s office, aimed to strengthen bilateral relations and explore collaborative opportunities in the fields of energy and sustainability.

During the meeting, the Ambassador emphasised the importance of fostering closer ties between Turkey and Ghana, particularly in light of pressing global challenges such as climate change and energy security.

He stated that Ghana remains a valuable partner, and their collaboration on various international platforms—including the Human Rights Council and previously the UN Security Council—demonstrates the strength of the relationship between the two countries.

“Turkey, as a development partner, is committed to enhancing this relationship through the efforts of institutions such as TIKA, which continues to carry out impactful projects, as well as through the active presence of Turkish NGOs on the ground,” the Ambassador remarked.

On trade and investment, the Ambassador noted that bilateral trade volumes between Ghana and Turkey stood at approximately $700 million in the sub-region.

He highlighted that Turkey was ranked as the second-largest investor in Ghana in 2023, with companies such as Yilport, Cimpor, and Karpowership actively contributing to the Ghanaian economy.

He called for the establishment of frameworks for double taxation agreements, investment promotion, and the creation of a joint economic cooperation council to further facilitate trade, investment, and SME collaboration between Ghana and Turkey.

The Minister for Energy and Green Transition, Hon. John Abdulai Jinapor, expressed his appreciation to the Ambassador for the visit and commended Turkey’s commitment to supporting Ghana’s energy sector.

“As we navigate the challenges of energy transition, collaboration on innovative technologies and policies is essential to reducing losses in the distribution sector. We will learn from Turkey and focus on renewable energy to address both energy needs and environmental concerns more effectively,” the Minister stated.

At the conclusion of the meeting, the Ambassador and the Minister reaffirmed their commitment to continued dialogue and coordinated efforts to leverage each country’s strengths in addressing the challenges of energy transition.

This courtesy call marks a step forward in fostering a deeper partnership between Turkey and Ghana in the field of energy, underscoring a shared vision for a greener and more sustainable future.

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Dr. Cassiel Ato Forson, Minister of Finance

The Minister of Finance, Dr. Cassiel Ato Forson, has stated that the government’s debt restructuring process is nearly complete.

According to him, the process is 93% finished, with only 7% of the debt, amounting to $2.7 billion, still outstanding.

He attributed the reduction in the dollar component of the country’s debt stock to the haircut on Eurobonds.

Dr. Ato Forson made this known while presenting the 2025 budget in Parliament on March 11, 2025.

“Mr. Speaker, the reduction in the debt-to-GDP ratio and the dollar component of our debt stock is a result of the 37% haircut on the principal of the Eurobond debt under the debt restructuring program,” he stated.

“Mr. Speaker, you may recall that the government commenced the debt restructuring program in 2022 to restore debt sustainability and economic stability. As of now, the restructuring process is approximately 93% complete, with the remaining 7% related to a debt of US$2.7 billion owed to commercial creditors,” he added.

However, the minister assured that the government remains committed to completing the process.

“We are committed to finalizing the remaining debt restructuring as soon as possible,” Dr. Ato Forson said.

SSD/MA

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Ghana Communication Technology University (GCTU) reaffirmed its status as the nation’s premier institution for technology-based education at the 34th Matriculation Ceremony, where Vice-Chancellor, Professor Emmanuel Ohene Afoakwa, addressed newly admitted students in a momentous welcome address.

The event, held on Saturday, February 22, 2025, celebrated the university’s continued commitment to excellence in ICT and business education while setting the stage for a transformative academic journey for the freshers.

In his speech, Prof. Afoakwa warmly congratulated the matriculating students, emphasizing that they were privileged to be part of Ghana’s leading ICT institution. He described the matriculation ceremony as a gateway to knowledge and opportunity, where students would be molded into professionals, innovators, and leaders of the future.

“You have made an excellent choice by joining GCTU, a university that consistently strives for excellence in teaching, research, and industry engagement. Since its establishment, GCTU has remained at the forefront of ICT education, making significant contributions to technological advancements in Ghana and beyond,” Prof. Afoakwa remarked. “Welcome to Ghana’s Silicon Valley—the hub of Information Communication Technology in the country.”

Expansion and Accreditation of Programmes

Reflecting on the university’s advancements, Prof. Afoakwa highlighted GCTU’s recent accreditation by the Ghana Tertiary Education Commission (GTEC) to offer several innovative and industry-relevant programmes. These newly accredited academic offerings align with the university’s vision of equipping students with cutting-edge skills to meet the demands of the evolving global job market.

Undergraduate Programmes:
• Diploma in Cyber Security
• Diploma in Web Application Development
• Diploma in Multimedia Technology
• Diploma in Data Science and Analytics
• BSc. Data Science and Analytics
• BSc. Internet of Things and Big Data
• BSc. Network and Systems Administration
• BSc. E-Commerce and Marketing Management

Postgraduate Programmes:
• MSc. /MPhil. Digital Marketing
• MA E-Business and Marketing Strategy
• MA Human Resource Management with Informatics
Institute of Continuing and Distance Education Programmes:
• Diploma in Information Technology
• BSc. Information Technology
• BSc. Electrical and Electronics Engineering
• BSc. Procurement and Supply Chain Management
• BSc. Logistics and Transport
• MSc. Finance
• MSc. Procurement and Logistics
• MSc. Economics and Informatics
• MSc. Digital Marketing

A Commitment to Excellence and Innovation

Prof. Afoakwa reiterated GCTU’s unwavering commitment to maintaining its leadership in technology-driven education. He underscored that the university’s mission is to bridge the gap between academia and industry by providing students with a curriculum that integrates technological innovation and practical experience.

He encouraged students to embrace their academic journey with dedication and passion, assuring them that GCTU would provide them with a robust and supportive learning environment. “At GCTU, we do not just impart knowledge; we inspire transformation. Our university is a breeding ground for problem-solvers, critical thinkers, and pioneers in the digital space,” he noted.

As GCTU continues to break new ground in ICT and business education, Prof. Afoakwa assured students and stakeholders that the university remains steadfast in its mission to equip the next generation with the skills necessary to thrive in the digital age.

The 34th Matriculation Ceremony not only marked the beginning of a new chapter for students but also reinforced GCTU’s commitment to innovation, excellence, and leadership in Ghana’s educational landscape.

In a significant effort to demystify the 2025 budget and its implications for the business community, the Graphic Business newspaper in partnership with First National Bank, will host an X dialogue at 10:00 a.m. on March 13, 2025.

The dialogue, which will be based on “2025 Budget: What’s in it for You and Your Business,” aims to provide practical insights into how the fiscal policies outlined in the recently released budget will impact enterprises and individuals across the economic spectrum.

The dialogue brings together a distinguished panel of experts, including the Head of Global Market at First National Bank, Kofi Pianim, who will offer perspectives on how the budget affects financial markets and banking services.

His insights will be particularly valuable for businesses seeking to understand changing financial landscapes in light of new fiscal measures, especially regarding funding opportunities available in the new financial year.

Economist and Dean of the University Of Cape Coast School Of Business, Professor John Gatsi, will bring academic rigor and policy analysis to the discussion.

His background in economic theory and business education positions him to evaluate the budget’s alignment with broader economic development goals and business growth strategies, helping listeners understand how to position their businesses for success in this new fiscal environment.

Complementing the panel is Lesley Dwight Mensah, an Economist from the Institute of Fiscal Studies, whose expertise in fiscal policy analysis will help demystify the technical aspects of budget allocations, particularly the tax reforms that have been introduced. His participation ensures that independent policy analysis of these critical changes will be a key component of the dialogue.
 

Timing

The timing of this dialogue is particularly critical as businesses and individuals grapple with understanding how to navigate the economic landscape shaped by the 2025 budget.

Many stakeholders have expressed confusion or concern about specific provisions that could affect their operations, making this platform an essential opportunity for clarification and strategic planning to stay ahead of the curve.

For business owners, the dialogue presents an opportunity to gain insights that could inform investment decisions, operational adjustments, and strategic planning for the coming fiscal year.

Small and medium enterprises (SMEs) which often lack resources for comprehensive budget analysis, stand to benefit significantly from the condensed expertise that will be shared, helping them to unlock new growth opportunities.

 
Tax adjustment

Individuals will also find value in understanding how tax adjustments, social welfare provisions, and economic growth projections outlined in the budget might affect their personal finances and employment prospects.

The dialogue’s focus on making economic policy accessible to the average person marks a departure from the typically esoteric nature of budget discussions.

Listeners can expect in-depth analyses of key budget provisions such as tax reforms, sector-specific allocations, infrastructure investments and fiscal consolidation measures.

The practical implications of these policies for business operations, compliance requirements, and market opportunities will likely dominate the discussion, giving participants actionable insights to implement immediately.

As the business community prepares for implementation of the 2025 budget provisions, this dialogue stands as a timely intervention to bridge the gap between policy formulation and practical application.

The South African government, currently chairing the G20, has appointed Bright Simons, President of mPedigree and Vice President of IMANI Africa, as a member of the Africa Expert Panel.

According to a 3news report, Simons will serve on the panel to provide strategic guidance and advisory support to South Africa as it leads the initiative, focusing on advancing Africa’s interests within the G20 framework.

In December 2024, South Africa assumed the G20 Presidency and will hold it until November 2025.

The G20 is an international forum comprising 19 of the world’s most systemically important economies, along with the African Union and the European Union.

It plays a critical role in shaping global economic policies, and South Africa’s presidency marks a significant moment for Africa, providing an opportunity to spotlight key economic and developmental challenges facing the continent.

Its activities are conducted through the G20 Finance and Sherpa Tracks, culminating in an annual summit of G20 leaders.

For the first time, the G20 Presidency and most of its key meetings in 2025 are being held on African soil, presenting a unique opportunity for South Africa to prioritize Africa’s development concerns during its tenure.

As part of its presidency, South Africa has established the Africa Expert Panel to address pressing policy challenges facing the continent.

A significant focus of the panel will be Africa’s growing debt crisis.

Currently, African nations are set to pay nearly $89 billion in external debt service, with many low-income countries facing debt distress.

More than half of Africa’s 1.3 billion people live in nations that allocate more funds to debt repayments than to critical social sectors such as healthcare, education, and infrastructure.

The rising debt burden is unsustainable and poses a serious threat to economic development and poverty alleviation.

The panel will play a critical role in shaping policy recommendations and strategic initiatives to tackle Africa’s economic challenges. It will facilitate collaboration among key stakeholders including governments, think tanks, and business leaders to advance a unified African agenda within the G20 framework.

By fostering evidence-based discussions and collaboration, the panel will help ensure alignment between South Africa’s priorities and those of the African Union.

It will also produce a high-level report detailing its key findings and recommendations.

The Africa Expert Panel is composed of leading economists, policymakers, and development experts, including:

Trevor Manuel – Chairman, Old Mutual Board (Chairperson)

Joel Netshitenzhe – Executive Director, Mapungubwe Institute for Strategic Reflection (Secretariat)

Anthony Musonda Simpasa – Officer in Charge, Macroeconomic Policy, Debt Sustainability & Forecasting, African Development Bank

Carlos Lopes – Honorary Professor, Nelson Mandela School of Public Governance, University of Cape Town

Daouda Sembene – CEO, AfriCatalyst (Senegal)

David Luke – Professor & Strategic Director, Firoz Lalji Institute for Africa (Sierra Leone)

Donald Kaberuka – Chairman & Managing Partner, SouthBridge

Esther Duflo – Professor, Massachusetts Institute of Technology

François Bourguignon – Former Chief Economist, World Bank & Director, Paris School of Economics

Hanan Morsy – Chief Economist, United Nations Economic Commission for Africa

Hannah Ryder – CEO, Development Reimagined

Johann Kirsten – Professor & Director, Bureau for Economic Research, Stellenbosch University

Kevin Urama – Professor & Chief Economist, African Development Bank

Kuben Naidoo – Investec

Masood Ahmed – President Emeritus, Center for Global Development

Murray Leibbrandt – Professor & Research Chair, Poverty and Inequality

Research, University of Cape Town

Ngaire Woods – Dean, Blavatnik School, Oxford

Patrick Njoroge – Former Governor, Kenya Reserve Bank

Alan Hirsch – Professor, Nelson Mandela School of Public Governance, University of Cape Town

Bright Simons – President, mPedigree (Ghana)

Fiona Tregenna – Professor of Economics, University of Johannesburg

Neva Makgetla – Senior Economist, Trade and Industrial Policy Strategies

Hans Peter Lankes – Deputy Chief Executive & Managing Director, ODI

South African Minister of Finance, Enoch Godongwana expressed gratitude to the panel members for their commitment stating, “On behalf of the people of South Africa, I want to thank each panel member for accepting the invitation to serve on the Africa Expert Panel. I am confident that the insights and expertise of each panel member will assist in shaping Africa’s economic, development, and financial engagements within such an international and systemic forum as the G20.”

MA

The Ghana Education Service (GES) has officially announced the appointment of Prof. Smile Gavua Dzisi as the Acting Deputy Director-General (Management Service).

In a congratulatory message, GES extended its warmest welcome to Prof. Dzisi, celebrating her achievement and expressing enthusiasm about working with her.

Prof. Dzisi brings a wealth of experience and expertise to her new role, having built a distinguished career in academia and management.

Her appointment is expected to strengthen the administrative and management structures within GES, contributing to the improvement of education services across the country.

About Prof. Smile Gavua Dzisi

Smile Dzisi is a renowned academic with over twenty-five years of rich experience and expertise in university leadership. She is an astute gender consultant of international repute.

She has repeatedly received international awards for her contribution to entrepreneurship and innovation, women empowerment, and the promotion of girls and women advancement.

She served as a former Vice-Chancellor for Koforidua Technical University, as well as President of Data Link University College, a premier private university in Tema, Ghana.

She is an Associate Professor of Entrepreneurship and Innovation and the Lead Consultant at Leadership, Entrepreneurship and Gender Consult.

Currently, Professor Dzisi is the chief consultant and chairperson of the preparatory committee leading the establishment of University College of Health and Technology (UCHaT), a new university in Anfoega, Volta Region of Ghana.

She doubles as the board chair of National Virtual Internship Programme (NVIP), as well as the board chair of Golden Latex Products Ltd.

Finance Minister Dr Cassiel Ato Forson has paid a courtesy visit to the Minister for Energy and Green Transition, John Abdulai Jinapor, to discuss key energy sector issues.

The visit, which took place on Wednesday, March 12, aimed to foster collaboration between the two ministries in addressing the country’s energy challenges.

Announcing the visit on Facebook, Mr Jinapor described Dr Ato Forson as a brother, friend, and colleague.

He highlighted the importance of their discussions, stating, “I received my brother, friend and colleague, the Hon. Minister of Finance, Dr Cassiel Ato Forson today. We used the opportunity to discuss the challenges in the Energy sector and how to overcome them.”

The meeting is expected to strengthen inter-ministerial cooperation in ensuring a stable and efficient energy supply, particularly as Ghana navigates its energy transition agenda.

Given the critical role of financing in energy projects, the engagement between the Finance and Energy Ministries could lead to strategic solutions for funding and policy implementation.

Dr Ato Forson’s visit reflects the government’s commitment to addressing energy-related concerns and ensuring sustainable economic growth.

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