Accra, Sept 24, GNA-President John Dramani Mahama has formally designated the Millennium Development Authority (MiDA) as the government’s primary focal institution for coordinating philanthropic and grant-based partnerships.

In a letter dated September 19, 2025, addressed to the Chairperson of MiDA and copied to the Ministers of Finance and Foreign Affairs, President Mahama cited MiDA’s track record of technical excellence, fiduciary discipline, and effective delivery as the basis for the new designation.

The move is intended to streamline and enhance the country’s engagement with major international philanthropic entities.

“This designation affirms Government’s confidence in MiDA’s institutional strength,” the letter stated, emphasizing MiDA’s historical success in implementing large-scale development projects such as the Millennium Challenge Corporation (MCC) Compacts.

The new role empowers MiDA to serve as the central coordinating body for all government engagements with philanthropic partners.

This includes strategic alignment with national priorities like the Feed Ghana Programme and the Sustainable Development Goals (SDGs).

As part of its expanded mandate, MiDA will now be responsible for acting as the lead institution for aligning philanthropic efforts with national development goals, managing secured funds grants, and implementing robust procurement systems.

MiDA’s designation specifically includes, but is not limited to, collaboration with global philanthropic giants such as the Open Society Foundation (OSF), the Bill and Melinda Gates Foundation, the Mastercard Foundation, and other similar entities.

President Mahama has instructed MiDA to work proactively with the Ministry of Finance, relevant sector ministries, and designated organizations to unlock impactful development financing opportunities for Ghana.

“We are confident that under your leadership, MiDA will excel in this strategic role,” the President’s letter concluded, expressing optimism about Ghana’s potential to become a trusted global partner in international philanthropy.

This strategic shift is expected to bolster Ghana’s capacity to attract and manage international grants effectively, ensuring that partnerships deliver measurable, lasting benefits to the Ghanaian people.
GNA
Edited by George-Ramsey Benamba

The Ghana National Fire Service (GNFS) has successfully contained a fire that broke out at a warehouse belonging to Peace Trading Company at Oyibi Sasaabi-Gbortsui, along the Oyibi–Dodowa road, on Wednesday, September 24, 2025.

The GNFS received the distress call at 1:36 p.m. and dispatched two fire engines from the Dodowa and Katamanso Fire Stations, with support from three private water tankers provided by Oswal Construction Ltd. The first fire tender from Dodowa arrived at 1:43 p.m.

The blaze was confined by 2:43 p.m., brought under control at 4:01 p.m., and completely extinguished at 4:50 p.m.

The fire destroyed items including assorted paints, furniture, bedsheets, and diagnostic devices stored in the warehouse. Fortunately, no casualties were recorded.

The cause of the fire is yet to be established.

The Tema Regional PRO commended the Dodowa District Fire Commander, DO I David Hojisky, and his crew led by ADO I Damsah, for their swift response, which prevented the warehouse and nearby properties from being completely destroyed.

Read the statement below by the GNFS

GNFS CONTAINS WAREHOUSE FIRE AT OYIBI GBORTSUI

At 1336 hours on Wednesday, September 24, 2025, the GNFS received a distress fire call reporting a fire outbreak at a warehouse belonging to Peace Trading Company at Oyibi Sasaabi-Gbortsui on the Oyibi–Dodowa road.

Two (2) fire engines from Dodowa and Katamanso Fire Stations, supported by three (3) private water tankers from Oswal Construction Ltd., were dispatched.

The first appliance from Dodowa arrived at 1343 hours. The fire was confined at 1443 hours, brought under control at 1601 hours, and fully extinguished at 1650 hours.

The blaze destroyed assorted paints, furniture, bedsheets, diagnostic devices, etc., stored in the warehouse.

Fortunately, no casualties were recorded. The cause of the fire is under investigation.

Kudos to DO I David Hojisky, Dodowa District Fire Commander, and his crew led by ADO I Damsah for their swift intervention that saved the warehouse and nearby properties from total ruin.

Filed by the PRO,
Tema Region
(Wednesday, September 24, 2025)

For more on this, kindly contact the Tema PRO, DO II Ebenezer Yenzu on 0247009115 or 0261749067

….

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As Ghana commemorates Founder’s Day on September 21 in honor of Osagyefo Dr. Kwame Nkrumah, and prepares to observe World Maritime Day on September 25, it is fitting to reflect on the immense legacy of Ghana’s first President in shaping the nation’s maritime infrastructure and its associated economic development.

Nkrumah understood, far earlier than many of his contemporaries, that maritime infrastructure was not merely about ships and harbors, but about the holistic integration of ports, industry, and transport systems as catalysts for national development. His vision for Ghana’s maritime future laid the foundation for much of what sustains the sector today.

Central to Nkrumah’s maritime ambition was the construction of Tema Port in the 1950s. At that time, global port development was in its second generation, characterized by mechanized handling of bulk cargo, stronger links with inland transport, and increasing integration with industrial activity. Though containerization in Ghana would only begin in the 1980s, the decision to build Tema Port positioned Ghana as a modern maritime hub in West Africa.

In keeping with international practice where port development stimulates city growth, Nkrumah complemented Tema Port with the creation of Tema Township, envisaging a symbiotic relationship between the port and the surrounding urban space. Although the port’s contribution to the township’s development has diminished in contemporary times, the initial model remains a testament to his foresight.

Nkrumah ensured that the port was not an isolated facility, but part of a broader industrial ecosystem. He strategically established industries such as the Tema Oil Refinery, Volta Aluminium Company (VALCO), and Tema Steel Works to provide both inputs and outputs for port-related trade, while also supporting maritime-linked industries such as shipbuilding.

Equally critical was the creation of maritime-supporting infrastructure:

• Tema Dry Dock: Essential for ship maintenance and repair, reducing dependence on foreign facilities and ensuring that Ghanaian and foreign vessels could be serviced locally, thereby retaining revenue within the country.
• Tema and Takoradi Boat Yards: Vital for constructing and repairing smaller vessels, enhancing coastal trade, artisanal fishing, and inland waterway transport. Boat yards not only bolstered the fishing and transport sectors but also cultivated local technical skills in ship repair and boatbuilding.

Recognizing the strategic importance of fisheries to food security and maritime trade, Nkrumah established the Ghana Fishing Corporation, which operated 19 fishing trawlers. This strengthened Ghana’s presence in industrial fishing, encouraged the growth of ancillary industries such as fish processing, and provided employment for Ghanaian seafarers.

To absorb the seafarers being trained by the Ghana Nautical College—established in the 1950s—Nkrumah created the Black Star Line, Ghana’s national shipping line, with 19 general cargo vessels. This provided opportunities for practical sea service, reduced dependency on foreign shipping lines, and elevated Ghana’s status as a maritime nation. The Nautical College has since evolved into the Regional Maritime University (RMU), serving West and Central Africa, a living testament to Nkrumah’s regional vision.

A port is only as strong as its connections to its hinterland. Nkrumah’s infrastructure development included the Tema–Accra Railway line and other railway projects to facilitate efficient cargo movement between ports and inland destinations. Complementing this was the Tema Motorway, which remains Ghana’s most vital land transport corridor for cargo moving to and from Tema Port. These projects illustrate Nkrumah’s comprehensive understanding of the maritime transport chain.

Osagyefo Dr. Kwame Nkrumah was not merely Ghana’s political founder; he was the architect of Ghana’s maritime and industrial infrastructure. His integrated approach—linking ports, industry, shipping, fishing, education, and transport—demonstrates an advanced appreciation of maritime economics and logistics. Today, even as Ghana navigates new challenges in the global maritime domain, Nkrumah’s legacy continues to inspire.

As we mark World Maritime Day, we must acknowledge that Ghana’s maritime future rests on the shoulders of the visionary who built its foundation. Indeed, Kwame Nkrumah remains the doyen of Ghana’s maritime infrastructure—a leader who saw in the sea not just a boundary, but a boundless horizon of opportunity.

Writer: Evans Ago Tetteh, Ph.D.
Regional Maritime University.
Regent, Kpone-Sebrepor.

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DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.

Ghana has achieved a critical breakthrough in its debt restructuring program by securing a bilateral agreement with the United Kingdom to reschedule over $256 million in debt across 15 years, unlocking five major infrastructure projects that had stalled due to financial constraints.

The agreement signed in Accra by Finance Minister Dr. Cassiel Ato Forson and His Majesty’s Trade Commissioner for Africa John Humphrey will enable Ghana to reschedule bilateral debt over 15 years as part of the external debt restructuring program, marking the country’s third major bilateral restructuring achievement.

The deal represents more than financial relief, directly unlocking five critical UK-backed projects: the 109-kilometer Bolgatanga-Bawku-Pulmakom Road Project, Obetsebi Lamptey Interchange Phase II, Kejetia Market Phase II, Komfo Anokye Teaching Hospital Maternity Unit, and Phase I of the Tema-Aflo Road Project.

Dr. Forson emphasized the agreement’s significance for Ghana’s economic recovery trajectory, noting that inflation is approaching single digits while debt levels decline and growth rebounds, particularly in real sector employment creation. Recent Bank of Ghana data shows public debt fell dramatically to 43.8% of GDP by June 2025, down from 55% in March, exceeding government targets ahead of schedule.

The broader debt restructuring strategy aims to reduce the debt-to-GDP ratio to 55% and cut debt-service-to-revenue below 18% by 2028, representing the clearest indication that President John Mahama’s administration is successfully moving beyond the country’s 2022 default on most of its $30 billion external debt.

Humphrey described the signing as a landmark moment in UK-Ghana relations, emphasizing that the agreement creates fiscal space for Ghana’s bold economic vision, including the 24-hour economy initiative and infrastructure development programs under the government’s “big push” agenda.

UK Export Finance is restarting five facilities supporting Ghana’s priority projects, with the restructuring deal unlocking up to £170 million additional funding to complete critical infrastructure undertaken by UK exporters. These projects will drive economic growth while creating employment opportunities and strengthening Ghana’s developmental foundations.

The agreement follows Ghana’s successful completion of comprehensive debt restructuring negotiations. Ghana previously struck deals with creditors to restructure $5.4 billion of bilateral loans after months of negotiations with Paris Club creditors and others, including China, constituting significant steps toward restoring long-term debt sustainability.

President Mahama, speaking at African Development Bank meetings in Abidjan, credited the debt-to-GDP improvement to restructuring agreements with creditors, demonstrating coordinated progress across multiple bilateral relationships supporting Ghana’s economic recovery.

The UK deal signals confidence from bilateral partners in Ghana’s economic management under the International Monetary Fund (IMF) Extended Credit Facility program. Dr. Forson emphasized that UK support should encourage other bilateral creditors still negotiating with Ghana to finalize similar agreements.

Infrastructure project resumption addresses critical developmental gaps across Ghana. The Bolgatanga-Bawku-Pulmakom Road improves northern region connectivity, while the Obetsebi Lamptey Interchange and Tema-Aflo Road projects enhance Greater Accra transportation networks. The Kejetia Market expansion supports commercial activities in Kumasi, and the Komfo Anokye hospital project strengthens healthcare infrastructure.

Recent World Bank data shows inflation reached 23.8% by end-2024, driven by food prices and currency depreciation, with the Cedi depreciating 19.0% against the US dollar. However, economic indicators suggest stabilization as debt restructuring agreements take effect.

The agreement represents broader normalization of Ghana’s international economic relationships following the 2022 fiscal crisis. UK Export Finance’s willingness to restart facilities demonstrates restored confidence in Ghana’s creditworthiness and economic management capacity.

Humphrey emphasized that the partnership extends beyond financial arrangements to encompass confidence, shared ambition, and transformation-focused trade relationships. The deal positions Ghana to attract additional investment while demonstrating that effective debt restructuring can restore bilateral economic cooperation.

Success will depend on Ghana’s ability to maintain fiscal discipline while executing infrastructure projects efficiently. The government must balance development spending with debt sustainability requirements under IMF program conditionalities.

The UK agreement joins other bilateral restructuring successes as Ghana rebuilds its external debt profile. The World Bank Group has welcomed agreements reached under the G20 Common Framework as representing critical milestones toward restoring debt sustainability consistent with joint World Bank-IMF debt sustainability frameworks.

Dr. Forson assured that the government will implement necessary measures to begin facility disbursements and project execution promptly, emphasizing continued partnership with the UK as demonstration of confidence in Ghana’s economic reset progress.

The infrastructure project resumption provides immediate economic benefits through construction employment while delivering long-term developmental impacts across transportation, healthcare, and commercial sectors essential for sustained economic growth.

Industry observers view the UK agreement as establishing momentum for completing Ghana’s bilateral debt restructuring program, potentially accelerating similar deals with remaining creditor nations and fully normalizing the country’s external debt relationships.

Ghana has achieved a critical breakthrough in its debt restructuring program by securing a bilateral agreement with the United Kingdom to reschedule over $256 million in debt across 15 years, unlocking five major infrastructure projects that had stalled due to financial constraints.

The agreement signed in Accra by Finance Minister Dr. Cassiel Ato Forson and His Majesty’s Trade Commissioner for Africa John Humphrey will enable Ghana to reschedule bilateral debt over 15 years as part of the external debt restructuring program, marking the country’s third major bilateral restructuring achievement.

The deal represents more than financial relief, directly unlocking five critical UK-backed projects: the 109-kilometer Bolgatanga-Bawku-Pulmakom Road Project, Obetsebi Lamptey Interchange Phase II, Kejetia Market Phase II, Komfo Anokye Teaching Hospital Maternity Unit, and Phase I of the Tema-Aflo Road Project.

Dr. Forson emphasized the agreement’s significance for Ghana’s economic recovery trajectory, noting that inflation is approaching single digits while debt levels decline and growth rebounds, particularly in real sector employment creation. Recent Bank of Ghana data shows public debt fell dramatically to 43.8% of GDP by June 2025, down from 55% in March, exceeding government targets ahead of schedule.

The broader debt restructuring strategy aims to reduce the debt-to-GDP ratio to 55% and cut debt-service-to-revenue below 18% by 2028, representing the clearest indication that President John Mahama’s administration is successfully moving beyond the country’s 2022 default on most of its $30 billion external debt.

Humphrey described the signing as a landmark moment in UK-Ghana relations, emphasizing that the agreement creates fiscal space for Ghana’s bold economic vision, including the 24-hour economy initiative and infrastructure development programs under the government’s “big push” agenda.

UK Export Finance is restarting five facilities supporting Ghana’s priority projects, with the restructuring deal unlocking up to £170 million additional funding to complete critical infrastructure undertaken by UK exporters. These projects will drive economic growth while creating employment opportunities and strengthening Ghana’s developmental foundations.

The agreement follows Ghana’s successful completion of comprehensive debt restructuring negotiations. Ghana previously struck deals with creditors to restructure $5.4 billion of bilateral loans after months of negotiations with Paris Club creditors and others, including China, constituting significant steps toward restoring long-term debt sustainability.

President Mahama, speaking at African Development Bank meetings in Abidjan, credited the debt-to-GDP improvement to restructuring agreements with creditors, demonstrating coordinated progress across multiple bilateral relationships supporting Ghana’s economic recovery.

The UK deal signals confidence from bilateral partners in Ghana’s economic management under the International Monetary Fund (IMF) Extended Credit Facility program. Dr. Forson emphasized that UK support should encourage other bilateral creditors still negotiating with Ghana to finalize similar agreements.

Infrastructure project resumption addresses critical developmental gaps across Ghana. The Bolgatanga-Bawku-Pulmakom Road improves northern region connectivity, while the Obetsebi Lamptey Interchange and Tema-Aflo Road projects enhance Greater Accra transportation networks. The Kejetia Market expansion supports commercial activities in Kumasi, and the Komfo Anokye hospital project strengthens healthcare infrastructure.

Recent World Bank data shows inflation reached 23.8% by end-2024, driven by food prices and currency depreciation, with the Cedi depreciating 19.0% against the US dollar. However, economic indicators suggest stabilization as debt restructuring agreements take effect.

The agreement represents broader normalization of Ghana’s international economic relationships following the 2022 fiscal crisis. UK Export Finance’s willingness to restart facilities demonstrates restored confidence in Ghana’s creditworthiness and economic management capacity.

Humphrey emphasized that the partnership extends beyond financial arrangements to encompass confidence, shared ambition, and transformation-focused trade relationships. The deal positions Ghana to attract additional investment while demonstrating that effective debt restructuring can restore bilateral economic cooperation.

Success will depend on Ghana’s ability to maintain fiscal discipline while executing infrastructure projects efficiently. The government must balance development spending with debt sustainability requirements under IMF program conditionalities.

The UK agreement joins other bilateral restructuring successes as Ghana rebuilds its external debt profile. The World Bank Group has welcomed agreements reached under the G20 Common Framework as representing critical milestones toward restoring debt sustainability consistent with joint World Bank-IMF debt sustainability frameworks.

Dr. Forson assured that the government will implement necessary measures to begin facility disbursements and project execution promptly, emphasizing continued partnership with the UK as demonstration of confidence in Ghana’s economic reset progress.

The infrastructure project resumption provides immediate economic benefits through construction employment while delivering long-term developmental impacts across transportation, healthcare, and commercial sectors essential for sustained economic growth.

Industry observers view the UK agreement as establishing momentum for completing Ghana’s bilateral debt restructuring program, potentially accelerating similar deals with remaining creditor nations and fully normalizing the country’s external debt relationships.

Ghana’s century-old dominance as the world’s second-largest cocoa producer faces imminent collapse, with Ecuador poised to claim the position as early as the 2026/27 season unless the Ghana Cocoa Board (COCOBOD) implements urgent structural reforms.

Ecuador is positioning itself to surpass Ghana as the world’s second-largest cocoa producer by the 2026/27 season, with projected output exceeding 650,000 metric tons, according to recent industry analysis. This represents a seismic shift in global cocoa production dynamics that threatens Ghana’s traditional agricultural leadership.

International Cocoa Organization (ICCO) data reveals Ghana’s production dropped from 654,000 tonnes in 2022-23 to 530,000 tonnes the following season before recovering partially to 600,000 tonnes in 2024-25. Meanwhile, Ecuador’s production is projected to reach 650,000 tons during the same period, creating a 50,000-ton gap that could determine Ghana’s fate in global rankings.

Côte d’Ivoire maintains its position as the world’s largest producer with approximately 1.75 million metric tons annually, representing roughly 40% of global supply. However, the battle for second place has intensified as Ghana struggles with multiple production challenges while competitors surge ahead.

The West African nation confronts a perfect storm of obstacles undermining its cocoa sector. Aging plantations, widespread cocoa swollen shoot virus disease (CSSVD), illegal mining activities destroying farmland, and climate-related weather patterns have collectively devastated production capacity. Gold miners frequently clear or damage cocoa farms during mineral extraction, leaving farmers with destroyed crops and substantial economic losses.

Perhaps most critically, farmer discontent over pricing policies threatens long-term production sustainability. Many Ghanaian smallholder farmers receive approximately 70% of world cocoa prices, significantly below Ecuador’s farmers who earn about 90% of global rates. This disparity reduces incentives for investment in farm maintenance, improved seedlings, fertilizers, and modern cultivation techniques.

COCOBOD recently announced a producer price of GHS3,228.75 per bag of 64-kilogram cocoa, effective from August 7th, 2025, following government efforts to maintain price stability amid currency fluctuations. However, COCOBOD maintains that assertions about Côte d’Ivoire farmers receiving better pricing are “factually inaccurate and misleading”.

Ecuador’s ascendancy stems from strategic agricultural policies and favorable market conditions. High global cocoa prices, combined with public and private investment, have supported production growth. The country’s adoption of agroforestry systems, which integrate cocoa with shade trees, plantains, coffee, and fruit crops, has reduced disease risks while protecting biodiversity and boosting yields to approximately 800 kilograms per hectare, compared to less than 500 kilograms per hectare in West Africa.

Indonesia maintains its status as the third-largest cocoa producer globally, with production increasing from 160,000 tons in 2023/24 to roughly 200,000 tons in 2025/26, primarily from smallholder farms on Sulawesi Island. This steady growth adds pressure on Ghana’s position, potentially pushing the country to fourth place if current trends continue.

Global cocoa prices experienced dramatic volatility, more than doubling in 2024 to surpass $12,000 per ton following poor harvests and disease outbreaks in West Africa. While prices have since declined by approximately one-third, they remain historically elevated, creating both opportunities and challenges for producing nations.

The potential ranking shift carries profound implications for Ghana’s economy. The country hosts over 800,000 smallholder farmers who comprise about 60 percent of Ghana’s agricultural workforce, making cocoa production central to rural livelihoods and foreign exchange earnings.

Industry experts suggest that without immediate intervention, Ghana risks permanently losing its traditional position in global cocoa markets. Recommended reforms include modernizing plantation infrastructure, implementing comprehensive disease control programs, addressing illegal mining encroachment, and restructuring farmer pricing policies to match international competitive standards.

The unfolding crisis represents more than statistical rankings, potentially reshaping global cocoa supply chains and economic relationships that have defined agricultural trade for decades. Ghana’s response to this challenge will determine whether the nation maintains its historical agricultural prominence or accepts diminished status in the global cocoa economy.

COCOBOD’s next strategic decisions could prove pivotal in determining whether Ghana maintains its cocoa heritage or witnesses the end of an agricultural era that has defined the nation’s economy for generations.

Ghana has signed a bilateral debt restructuring agreement with the United Kingdom as part of ongoing negotiations with the External Creditor Committee.

The move is expected to ease financing pressures and unlock support for key government programmes, including “The Big Push.”

The agreement was signed in Accra by Finance Minister, Dr. Cassiel Ato Forson and UK Export Finance, represented by His Majesty’s Trade Commissioner to Africa, John Humphrey, during an official visit.

Dr. Forson said the UK’s participation sends a strong signal to other creditor nations to fast-track their own agreements. The deal, which restructures over US$256 million in debt, will pave the way for the resumption of five major infrastructure projects valued at about GHS 2.8 billion.

These include the Bolgatanga Road, Obetsebi Lamptey Interchange Phase II, Kejetia Market Phase II, the Tema-Aflao Road, and the maternity block of Komfo Anokye Teaching Hospital in Kumasi.

“This marks the third of several bilateral agreements — following those with France and China’s Exim Bank — and brings us closer to restoring debt sustainability,” Dr. Forson said.

John Humphrey reaffirmed the UK’s commitment to Ghana’s development, adding that Britain will continue supporting government initiatives such as the newly launched 24-Hour Economy Policy.

The Convenor of the Coalition Against Illegal Mining, Dr. Kenneth Ashigbey, has urged government to move beyond designating forests and water bodies as security zones and immediately declare a state of emergency to confront Ghana’s escalating galamsey crisis.

Dr. Ashigbey welcomed the Lands and Natural Resources Minister, Emmanuel Armah-Kofi Buah’s announcement that all rivers and forests would soon be declared security zones, warning that illegal miners would operate there “at their own risk.”

However, he argued that the severity of the environmental destruction requires far stronger measures.

In an interview on Joy FM’s Newsnight on Wednesday, September 24, he stressed that water turbidity levels in some areas had reached over 94,000 NTU, a development he described as catastrophic and more than enough to justify a formal state of emergency.

“The president himself has already alluded to the fact that this environmental crime amounts to an international emergency. I don’t know what else would be needed before a state of emergency is declared,” he added.

Read also: Rivers, forests to become security zones – Lands Minister hints in intensified galamsey fight

“We want to see what the details of the Minister of Lands has announced but we still think that it is not enough. With the crisis that is confronting us, we need some level of urgency that currently is not coming in.”

According to him, while the government’s new measures are a step forward, they fall short of the decisive action required to protect Ghana’s rivers, forests, and communities from the devastating effects of illegal mining.

Dr. Ashigbey insisted that only a state of emergency could marshal the resources, political will, and enforcement capacity needed to restore Ghana’s water bodies and safeguard future generations.

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 Michael Foli Jackidy 

Dambai (O/R), Sept 24, GNA – The Electricity Company of Ghana (ECG), Volta Region, has commissioned 21 distribution transformers to extend electricity supply to 24 newly electrified communities under the government’s Self-Help Electrification Project (SHEP) in the Dambai District. 

The project, valued at about GH¢6 million, is part of ECG’s broader commitment to improving access to reliable and safe electricity for underserved rural communities. 

The installation comprises 16 transformers ranging from 33kV, 50kVA to 200kVA, as well as five additional 33kV, 200kVA units. 

Beneficiary communities include Adorkope Odumase, Kotokugye, Pumpi, Abongo, Olugu, Adinakope, Abongo Akura, Abada, Aglakope, Kpogede, Napoa, Asubin, Nanso Alavanyo, Sokukope, Kpevekope, Akokrowa, Betinase, Alarmblow, Nanso, and Tamanja, among others. 

Speaking at the commissioning, Ms. Christina Jagoe-Kaleo, Volta Regional General Manager of ECG, reaffirmed ECG’s partnership with the Ministry of Energy to expand electricity access across rural Ghana.  

She urged residents to use the ECG PowerApp to pay their bills on time and remain vigilant against mobile money fraudsters posing as ECG officials. 

Mr. Godfred Gyansah Awuku, Regional Engineer, explained that the transformers would not only bring light to the communities but also stimulate economic activities and improve livelihoods in the newly connected areas. 

Madam Irene Mary Odame, District Manager for Dambai, advised residents to promptly report electrical faults and engage directly with ECG offices to resolve any issues. 

The initiative marks a major milestone in ECG’s rural electrification agenda, expected to spur social transformation, economic empowerment, and improved quality of life for the beneficiary communities. 

GNA 

Edited by Maxwell Awumah/Benjamin Mensah 

The New Patriotic Party (NPP) has officially referred multiple petitions against its Deputy Director of Communications, Mr. Ernest Owusu Bempah, to the party’s National Council for further action.

In a statement issued on Wednesday, September 24, 2025, and signed by NPP General Secretary Justin Kodua Frimpong, the party noted with “grave concern” the conduct of Mr. Bempah, which has triggered formal complaints from within its ranks.

The General Secretary revealed that the party headquarters has received petitions from members calling for Mr. Bempah’s removal from office.

However, because his appointment was made based on the recommendation of the National Executive Committee and subsequently approved by the National Council, the issue has been referred to the Council for appropriate review and decision.

“The Party reaffirms its unwavering commitment to upholding discipline, safeguarding its values, and ensuring that all matters are handled with fairness and transparency,” the statement added.

Read also

Dafeamekpor, two others drag GBA to court over alleged monopoly

Ghana’s international reserves have reached a historic milestone with gold holdings climbing to 36 tonnes, providing critical foreign exchange stability cushions despite a marginal decline in import coverage that has analysts weighing long-term economic resilience.

Fresh data from the Bank of Ghana (BoG) September 2025 Summary of Economic and Financial Data reveals gross international reserves at $10.73 billion in August, with net reserves standing at $8.38 billion. This represents the highest gold accumulation in the nation’s history, marking a remarkable rise from 8.78 tonnes in May 2023.

The reserves translate into an import cover of 4.5 months, down from 4.8 months recorded in June 2025, though still above December 2024’s four-month coverage. However, economists emphasize the strategic significance lies in Ghana’s aggressive gold accumulation strategy rather than temporary import cover fluctuations.

Gold reserves specifically have surged nearly 39 percent over the past year, climbing from 25.97 tonnes in August 2024 to 36.02 tonnes by August 2025, according to central bank data. Valued at $3.17 billion, these holdings reflect both sustained gold-purchase programmes and surging global bullion prices.

Dr. Theo Acheampong, economist and Vice President of policy think tank ImaniAfrica, emphasized the strategic importance of these buffers for market stability. “These cushions are important in sending the correct signals for foreign exchange market stability and should the need arise for central bank intervention, as well as balance of payment resilience,” he stated.

The timing appears critical as recent cedi appreciation has been attributed to deliberate domestic policy measures rather than external influences, with economists warning that stability requires sustained fiscal discipline.

For businesses and consumers, stronger reserve positions directly impact imported goods pricing. The cedi’s performance against major trading currencies depends heavily on the country’s reserve capacity, with gold buffers providing central bank intervention capability during speculative attacks or external shocks.

The latest figures coincide with Ghana’s trade surplus reaching $6.2 billion in the first eight months of 2025, driven primarily by gold and cocoa exports. Industry analysts suggest this positions Ghana favorably amid global economic uncertainties while providing breathing space for fiscal policy implementation.

The BoG’s gold accumulation strategy represents a significant shift from previous reserve management approaches. Gold reserves have increased by more than 200 percent compared to December 2022, demonstrating systematic diversification away from traditional foreign currency holdings.

However, the slight import cover decline from June exposes underlying vulnerabilities. Economists caution that while gold cushions strengthen short-term resilience, sustainable foreign exchange stability requires export diversification, import substitution, and continued fiscal discipline.

Dr. Acheampong has previously warned that cedi appreciation could prove short-lived without disciplined and consistent policy action, emphasizing the need for structural economic reforms beyond reserve accumulation.

The development occurs as Ghana emerges from debt distress following International Monetary Fund (IMF) programme implementation. The cedi has appreciated more than 50 percent against major trading currencies since January, trading at GH₵11.85 to the US dollar by May 2025.

Investment analysts view Ghana’s gold strategy as potentially confidence-building for international investors seeking exposure to African markets. The reserves provide collateral capacity for future borrowing while demonstrating monetary policy credibility during economic recovery phases.

The BoG’s approach aligns with global central bank trends toward gold diversification, particularly among emerging economies seeking reduced dollar dependency. With global gold prices maintaining elevated levels, Ghana’s timing appears strategically advantageous for reserve enhancement.

Looking ahead, economists suggest Ghana’s ability to maintain reserve growth while addressing import cover sustainability will determine long-term foreign exchange stability and economic transformation prospects.

GSE Financial Stocks Index (GSE-FSI) rose 0.42% to 3,668.97 points

The Ghana Stock Exchange (GSE) recorded a significant surge in trading activity on Tuesday, September 23, 2025, with total volumes and turnover soaring compared to the previous session.

At the close of trade, 4,986,838 shares valued at GH¢20.74 million changed hands, marking a 568% increase in volume and an 853% rise in turnover from the previous trading day on September 19, 2025.

A total of 14 equities participated in session, with three gainers and no losers recorded.

GCB Bank led the pack, posting a 3.78% gain to close at GH¢14.01 per share.

It was followed by NewGold Exchange Traded Fund which rose 2.92%, and MTN Ghana, up 0.24%.

MTN Ghana dominated trading activity by volume, with 4.94 million shares traded, followed by Ecobank Transnational with 21,000 shares, TotalEnergies Marketing Ghana with 10,420 shares, and SIC Insurance Company with 8,893 shares.

The benchmark GSE Composite Index (GSE-CI) advanced 21.55 points to close at 7,800.70.

Similarly, the GSE Financial Stocks Index (GSE-FSI) rose 0.42% to 3,668.97 points.

The current market capitalization of the Ghana Stock Exchange stands at GH¢157.7 billion, reflecting growing investor confidence and sustained interest in Ghanaian equities.

SP/SA

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Société Générale Ghana has rolled out a comprehensive Green Funding Initiative to give staff and customers access to innovative, low-interest financial solutions that support sustainable development. The initiative, unveiled at the bank’s Environmental, Social and Governance (ESG) Networking event in Accra, is expected to promote clean energy adoption, green transport, and environmentally conscious business practices.

Managing Director of Société Générale Ghana, Hakim Ouzanni, said the initiative forms part of the bank’s broader sustainability journey. “At Société Générale Ghana, we recognize that Environmental, Social and Governance goals are no longer rhetoric. They have become an essential part of business solutions towards a better future,” he stated.

Ouzanni highlighted several projects that demonstrate the bank’s commitment to ESG, citing partnerships with community groups such as the Buzstop Boys to tackle plastic pollution and clean-up exercises like the recent Move for Oceans campaign at Kumasamba Beach. He also pointed to efforts in clean energy, including the installation of solar panels to power operations and the recent commissioning of a solar-powered digital library at Osu Salem Road Presbyterian School.

According to him, inclusivity is central to the bank’s sustainability agenda. “From our SG Woman Offer and youth programmes to our inclusive hiring policies, we are ensuring that diversity remains at the heart of what we do,” Ouzanni explained. He also praised the bank’s cultural initiative, ARTENTION, which uncovers emerging artistic talent. This year’s edition, in partnership with African Movie Box, will support young filmmakers to tell sustainability stories through short films.

The newly launched Green Funding Initiative is structured around three flagship offers. The Green Drive Offer provides low-interest financing to help customers and staff acquire electric vehicles, in partnership with Green Mobility, Drive EV, and Grace Mobility. The Green Energy Offer makes it easier for individuals and households to transition to cleaner energy sources such as solar power. The Green Impact Offer supports companies whose operations contribute positively to the environment by granting them access to specially designed low-interest loans.

“These offers are a wonderful step towards achieving a greener world,” Ouzanni said. “We are confident that they will empower staff and customers with innovative financial solutions that not only drive growth but also push the sustainability agenda forward.”

The bank emphasized that its ESG projects to date have supported education, clean water, renewable energy, health, music, and the arts. The new Green Funding Initiative, it says, will consolidate these efforts while positioning Société Générale Ghana as a leader in green finance and sustainability in the country.

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DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.

Recent data from the Forbes currency calculator indicates that the Ghana cedi has been ranked as the fourth strongest currency among Africa’s top 10 performing currencies for September 2025.

According to the Bank of Ghana, the cedi has appreciated by 21 percent against the US dollar year-to-date, reflecting improved market confidence and effective policy measures.

Leading the rankings for the month was the Tunisian dinar, followed by the Libyan dinar in second place and the Moroccan dirham in third. The Namibian dollar rounded out the list in 10th position.

In Ghana, the cedi’s stability has helped ease disinflationary pressures, with headline inflation dropping to 11.5 percent in August 2025, the lowest level since October 2021.

The Bank of Ghana’s decision to reduce its benchmark interest rate to 21.5 percent underscores growing confidence in price stability, bolstered by the currency’s performance.

On the interbank exchange market as of September 24, 2025, the dollar was selling at GH¢12.27, the pound at GH¢16.55, and the euro at GH¢14.42.

South Africa’s rand, for instance, recorded moderate gains in September, supported by higher foreign reserves and the Reserve Bank’s decision to maintain interest rates at 7 percent.

Africa’s 10 strongest currencies in September 2025:

SP/AE

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The government has announced plans to designate all rivers and forests in Ghana as security zones as part of an intensified crackdown on illegal mining, commonly known as galamsey.

The Minister of Lands and Natural Resources, Emmanuel Armah-Kofi Buah, disclosed the new measure during an appearance on the GTV Breakfast Show on Wednesday, September 24, 2025, warning that individuals caught engaging in illegal mining within these protected areas will be doing so at their own risk.

“We are moving another step further, and that step says we are going to declare all the water bodies and our forests security zones. And you stay there and engage in illegal mining activity at your own risk. That is the step,” he stated.

The minister emphasised that this directive aligns with the president’s commitment to exhaust all measures to combat galamsey.

Gabriella Tetteh loses cool over visible effects of galamsey in the Central Region

“When the president said that we are going to use all the steps, that’s what he meant. And so I’m very confident. How can people leave red zones for you when you come and clear within nine months? And those people who have caused the damage have the audacity to be talking?” he questioned.

Regarding arrests made so far, the minister disclosed that cases are at various stages of prosecution, with the Attorney General personally overseeing the matter.

He reiterated that the law will be applied impartially.

“I think that the Attorney General is on top of this matter, and anybody engaged in illegal mining, we don’t care who you are or how politically connected, we will arrest and prosecute you,” he added.

The decision to classify rivers and forests as security zones is expected to grant state security agencies greater authority to take decisive action against illegal mining operations, which have continued to wreak havoc on water bodies and forest reserves across the country.

‘I refuse to be silenced on galamsey’ – Cadman Mills to critics

The decision comes on the back of ongoing calls for the government to declare a state of emergency in areas affected by galamsey activities.

The Member of Parliament for South Dayi and Majority Chief Whip, Rockson-Nelson Dafeamekpor, appearing on JoyNewsfile on Saturday, September 20, 2025, said he would prefer that the government declare forests and rivers as security zones instead of a state of emergency, which he notes has far-reaching effects beyond the intended purpose.

GA/AE

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The World Bank has unveiled a comprehensive transformation strategy projecting Ghana could triple its per capita income by 2050 through ambitious structural reforms, marking a decisive break from decades of boom-bust economic cycles that have constrained the nation’s development potential.

The “Transforming Ghana in a Generation” policy notes, launched Wednesday in Accra, outline how comprehensive productivity enhancements, infrastructure improvements, and human capital investments could sustain economic growth exceeding 6.5% annually, lifting Ghana definitively toward upper-middle-income status.

Ghana’s income per capita has stagnated around $2,200 over the past decade, with poverty affecting over a quarter of the population and regional disparities worsening due to limited structural transformation and dependency on natural resources, creating urgent imperatives for policy transformation.

The analysis reveals Ghana has entered 17 International Monetary Fund (IMF) programs, spending approximately 40 of its 68 years of independence under IMF supervision. This pattern demonstrates recurring fiscal stress that has prevented sustained development momentum.

Robert Taliercio, World Bank Division Director for Ghana, Liberia and Sierra Leone, emphasized the critical nature of the current moment, stating Ghana must “join other countries that have maintained prolonged periods of robust economic growth and successfully avoided the middle-income trap.”

The strategy centers on four foundational pillars requiring immediate implementation. Macro-financial stability demands enhanced domestic revenue mobilization, with Ghana’s 2021 revenue collection reaching only 13% of GDP compared to an estimated capacity of 21%, representing 8 percentage points below potential and trailing the Sub-Saharan Africa average.

Energy sector reforms represent the most urgent challenge, with government transfers to cover financial shortfalls costing approximately $1.4 billion in 2024, projected to rise to $2 billion by 2026. This represents 2% of GDP that could otherwise fund health, education, or infrastructure development, making every month of delay extremely costly.

The IMF Executive Board completed Ghana’s fourth review under the Extended Credit Facility arrangement, with authorities adopting corrective measures to achieve a 1.5% of GDP fiscal primary surplus in 2025, providing foundation for the World Bank’s transformation agenda.

The cocoa sector requires parallel restructuring, with Ghana Cocoa Board’s (COCOBOD) operational framework creating significant inefficiencies and market distortions that accumulate debt and increase fiscal liabilities. The sector’s financial sustainability directly impacts Ghana’s export earnings and rural livelihoods.

Productivity enhancement forms the second pillar, addressing systemic barriers that constrain private sector development. Business registration takes 57 days for domestic firms and 67 for foreign companies, substantially longer than Morocco’s 28 days, while court litigation averages 900 days compared to Côte d’Ivoire’s 225 days.

Ghana’s economy displayed resilience with strong growth of 5.7% in 2024 and continued growth in the first quarter of 2025 of 5.3%, providing momentum for implementing comprehensive reforms without destabilizing current recovery trends.

The human capital pillar targets skills development and health system efficiency, with particular focus on National Health Insurance Scheme (NHIS) reforms and expanding social protection coverage. Ghana faces the demographic challenge of approximately 500,000 youth entering the labor force annually, requiring quality job creation exceeding current capacity.

Natural resource management constitutes the third foundation, emphasizing climate-smart agriculture, environmental protection enforcement, and infrastructure resilience. Past growth patterns have strained agricultural resources, contributing to environmental decline and reduced productivity that threatens long-term sustainability.

Governance reforms complete the transformation framework, targeting corruption reduction through transparent budgeting, independent audits, and real-time spending tracking. State-owned enterprise rehabilitation and stronger corporate governance standards aim to restore public trust essential for sustaining reform momentum.

The IMF projects Ghana’s total debt stock will reach approximately 60% of GDP by end-2025, reflecting improvements from recent debt restructuring programmes, creating fiscal space for strategic investments outlined in the World Bank strategy.

The analysis contrasts sharply with baseline projections showing growth plateauing around 3.8% without reforms, delaying upper-middle-income status beyond 2050. This scenario perpetuates current challenges including insufficient job creation, high poverty rates, and widening regional disparities.

Success metrics include transforming Ghana’s growth model from factor accumulation and natural resource depletion to productivity and human capital-driven expansion. Moderate reforms could achieve 4.2-6.1% growth through 2050, while ambitious implementation targets 6.4-6.9% sustained expansion.

The strategy acknowledges political economy challenges that have historically undermined reform sustainability. The World Bank emphasizes that effectiveness will ultimately be measured by government capacity to rebuild citizen trust through transparent, accountable governance practices.

International development partners, including preferential International Development Association (IDA) financing at 1.5% rates compared to domestic borrowing costs averaging 11.9% in September 2025, provide implementation advantages for capital investments supporting the transformation agenda.

The move is a significant milestone in Ghana’s efforts to modernise its railway sector

The Ghana Railway Development Authority (GRDA) has announced that passenger train services on the Afienya–Tema Harbour and Afienya–Adome corridors will officially begin on October 1, 2025.

Chief Executive Officer of GRDA, Dr Frederick Appoh, confirmed the development in an interview with GHOne TV, noting that all defects and safety concerns along the lines have been addressed ahead of the rollout.

According to him, initial inspections revealed serious challenges, including defective point machines, missing interlocks, and removed bolts and nuts from sections of the tracks.

The Authority subsequently carried out comprehensive repairs and also resolved issues of illegal encroachment along the line.

To ensure safety, Dr Appoh said the GRDA conducted a rigorous four-day trial run on the Tema–Mpakadan line under varying conditions, including daytime, nighttime, and rainfall scenarios, to validate operational readiness.

“My job as a chief executive is to ensure that we run the train safely,” he stressed. “We needed to test operations under adverse conditions before opening to the public. I am happy to announce that on October 1, we will begin passenger service runs on the Tema to Adome corridor, with a 30-minute service from Afienya to Tema Harbour and another service from Afienya to Adome.”

The move marks a significant milestone in Ghana’s efforts to modernise its railway sector and expand safe, reliable passenger transport.

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