Time is a great source of irony. It reveals the truth in every matter, yet, often after the fact and when very little can be salvaged.

Only a week ago, the Ghana Football Association was pontificating piety, trumpeting its innocence in the thorny issue of Black Stars budgets and national team expenditure.
The football governing body said its role in national teams’ expenditure was limited to simply drafting budgets.

To say that in response to President Mahama’s call for accountability is to suggest that they would remain oblivious to the contents of the budget.

As fate would have it, it has taken all of two working days to expose the extent of information and detail, the GFA has in such matters.

JoySports has intercepted a memo written by the GFA’s General Secretary, with details of their proposed budget for the 2022 FIFA World Cup.

Appearance fees

On November 14, 2022, Black Stars coach Otto announced a squad list of twenty-six players to represent Ghana at the World Cup.
Beyond the other-worldly experience of playing on the grandest stage of all, each player was going to earn a whopping $100,000 as an appearance fee.

What Ghanaians did not know, was that the GFA had budgeted for an additional twenty-eight people to receive appearance fees, taking the total number of appearance fee beneficiaries to fifty-four.

Yes, FIFTY-FOUR!

That sums up to $5.4 million.

Otto Addo’s ”Personal Assistant”

The GFA penciled down Otto Addo’s ”Personal Assistant” to receive an honorarium of $20,000.
He or she earned the same amount as Ghana’s scouts and as much as the head of delegation for the tournament.

Plane tickets.

Another curious item on the GFA’s budget was the cost of air tickets to enplane the Black Stars players to Abu Dhabi, United Arab Emirates.

The GFA budgeted to pay $7,000 for each player.

How did the plane tickets cost the same for each player when they flew to the UAE from different parts of the world? For example, Andre Ayew was playing in Qatar at the time. How could his plane ticket cost the same as Daniel Afriyie Barnieh who joined from Ghana?

Purse holder

If ever there was any doubt about the high-level collusion between the Finance Ministry, Sports and Recreation Ministry, and the GFA, it is the honorarium for the purse holder.
The chief spending officer was still penciled down to earn $10,000 for doing what would essentially have been the same job the Finance Ministry pays him or her for.

The full budget is contained in the document below.

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.

Top Reasons to Invest in Ghana’s Mining Industry

Ghana’s mining industry stands as a key driver of economic growth – with gross domestic product (GDP) projections reaching 1.5% by 2025 fuelled by expanding opportunities within the sector.

A stable political and business environment, coupled with the discovery of new mineral reserves and a well-established mining ecosystem, Ghana is an attractive investment destination for global mining institutions.

The upcoming Mining in Motion Summit, taking place in Accra on June 2 – 4 will further highlight lucrative investment opportunities, connecting Ghanaian stakeholders with international financiers and technology providers to enhance collaboration across the mining value chain.

Rich Mineral Resources

Ghana leads Africa in gold production and ranks 6th globally. In 2024 alone, artisanal miners contributed over $5 billion in foreign exchange earnings, underscoring the vast potential of Ghana’s gold sector.

Ongoing industrial-scale projects like Goldstone’s Homase Mine Expansion, Cardinal Namdini Mine and Newmont’s Ahafo North Project continue to expand investment opportunities in the gold industry.

In addition to gold, Ghana is the world’s 4th-largest manganese producer, presenting attractive prospects for investors seeking exposure to high-value minerals.

The country’s untapped reserves of lithium, iron ore and bauxite also offer substantial growth potential as the demand for these minerals expand owing to the energy transition.

Strong, Investor-Friendly Regulatory Framework

Ghana introduced incentives including as tax breaks, customs duty exemptions and foreign ownership rights, attracting significant foreign direct investment.

For example, Atlantic Lithium secured $6.7 million to accelerate the Ewoyaa Lithium Project, while Asante Gold committed $525 million to expand its Bibiani and Chirano Mines. Policies such as the Green Minerals Policy (2023) streamline entry for critical mineral investors, while the Equipment Tracking Regulations (2020) simplify equipment procurement and transportation processes for mining projects.

Skilled Workforce

Ghana’s mining history has fostered a highly skilled workforce, making it easier for international investors to recruit trained personnel for their operations.

Partnerships with global institutions, including the World Bank, have led to initiatives like the Ghana Landscape Restoration and Small-Scale Mining Project, which equips miners with modern, sustainable practices. Additionally, programs focused on apprenticeship, mentorship and capacity-building continue to enhance the local workforce. AngloGold Ashanti graduated 1,010 apprentices in October 2023 and added 140 more in February 2024, supporting Ghana’s local content development.

Infrastructure Readiness

Ghana’s infrastructure readiness further strengthens its appeal as a mining investment hub. Recent developments include the inauguration of the Royal Ghana Gold Refinery in Accra in August 2024, which allows for local gold processing, streamlining operations and boosting export revenues through the sale of refined gold.

The Ministry of Lands and Natural Resources in collaboration with testing laboratories company Intertek launched a new testing laboratory in Tarkwa, in 2023.

The laboratory offers faster mineral sample analysis for over 500 exploration projects and 23 large-scale operations. Furthermore, the continuous modernization of the Tema and Takoradi ports has improved export logistics, ensuring that Ghana’s minerals reach international markets efficiently.

Amid these investor-friendly conditions established by Ghana, Mining in Motion will further unveil burgeoning and lucrative opportunities within the West African nation’s mining sector. The summit will serve as a platform to connect stakeholders, foster partnerships, and facilitate deal signings that drive growth and investment. #Top Reasons to Invest in Ghana’s Mining Industry#

Canada imposes retaliatory tariffs on U.S. imports

Featured

Mohammed Ali

Mar – 04 – 2025 , 10:54

1 minute read

GhanaWeb Feature by Mawuli Ahorlumegah

United States President Donald Trump under an executive order on Tuesday March 4, 2025 imposed a sweeping 25% tariff on goods from Mexico and Canada, alongside a sharp increase in tariffs on Chinese imports.

The decision which has been described by many as an extraordinary measure aimed at addressing security concerns and trade imbalances, has already set the stage for economic retaliation from key US trading partners.

As the trade war escalates, the impact is expected to extend beyond North America and China, reverberating across global markets, including Ghana’s economy.

GhanaWeb Business examines the ripple effect of these tariffs on Ghana’s economy, which is on the cusp of recovery.

US tariffs and the global economy

The tariffs imposed by the US apply to a wide range of goods, including fresh produce, automobiles and parts, and electronics such as mobile phones and computers. With the US importing over $1.4 trillion worth of goods from Mexico, Canada, and China combined, accounting for more than 40% of its total imports, this move is expected to disrupt global supply chains and cause price surges worldwide.

In response, both Canada and China have announced retaliatory tariffs on US goods, targeting essential commodities such as wheat, corn, soybeans, dairy, and meats. This development is likely to send shockwaves through commodity markets, affecting economies dependent on these trade flows, including Ghana.

Impact on Ghana’s trade and economy

While Ghana is not a direct player in the tariff war, its economy remains vulnerable to its ripple effects in multiple ways including:

Higher import costs for Ghanaian businesses and consumers

Ghana imports a significant share of electronics, machinery, and automobile parts from the US, Canada, China, and Mexico, either directly or through third-party nations.

The new tariffs will likely increase the cost of these goods, pushing up prices in Ghana’s local market. Businesses dependent on these imports, including automotive dealers and electronics retailers, may have to pass on the increased costs to consumers.

Commodity price volatility

With China imposing tariffs on US agricultural products like wheat, corn, and soybeans, global commodity prices could see sharp fluctuations.

Ghana, which imports wheat and other agricultural products, may experience price hikes, affecting industries such as bread and beverage production. Furthermore, changes in global demand for cocoa beans which one of Ghana’s major exports could impact its revenue streams if the trade war alters investment and consumer spending patterns in key markets.

Disruptions in Ghana-China trade relations

Ghana maintains a robust trade partnership with China, relying on the Asian giant for infrastructure financing, imports, and business investments. If the US intensifies its trade war, Chinese economic slowdown or shifts in global supply chains could affect Chinese investment in Africa, including in Ghana.

Additionally, a weakened Chinese economy could also reduce demand for Ghanaian exports like oil and minerals, further impacting government revenue.

US-Ghana trade and investment uncertainty

If trade tensions escalate, Ghana may find itself in a complex position regarding future trade negotiations with the US.

American businesses facing higher costs due to tariffs may reduce investment in African markets, affecting sectors such as manufacturing, technology, and construction. Moreover, if the US takes a broader protectionist stance, future Ghana-US trade agreements could be impacted.

The way forward for Ghana

As global markets adjust to the new trade landscape, Ghana must adopt strategic measures to mitigate potential economic disruptions which include the following;

Diversifying trade partners: Ghana should strengthen trade agreements with the European Union, Asia, and within Africa, leveraging initiatives like the African Continental Free Trade Area (AfCFTA) to reduce dependence on US and Chinese markets.

Boosting local production: Investing in local manufacturing and agriculture will help lessen reliance on imports, insulating the local economy from external trade shocks.

Monitoring global market trends: Government agencies and businesses in Ghana must stay informed about international trade developments to make data-driven decisions that protect Ghana’s economic interests.

While the full extent of the impact remains uncertain, Ghana’s proactive response will determine how well it weathers the storm of the escalating US tariff war.

The coming months will be critical in shaping the country’s trade resilience and economic stability in an increasingly volatile global economy.

Arnaud Hiamabe is new Head of Operations for Stratcon Energy & Trading LTD

Stratcon Energy & Trading LTD (Stratcon) has appointed Arnaud Hiamabe as the new Head of Operations. This strategic leadership move aligns with the company’s commitment to enhancing its operational capabilities and expanding its offerings within Ghana and across West Africa and comes at a time where the demand for oil and gas and energy, at large, are expected to increase.

Hiamabe will succeed Emmanuel Odei, who will continue to support Stratcon as a special advisor.

Arnaud’s career trajectory showcases a blend of operational acumen and strategic foresight. Fluent in French and English, Arnaud Hiamabe brings a wealth of experience in the oil and gas industry, having held critical roles at AI Energy Group, Ecobank Togo, and Torrid Global.

His expertise spans oil marketing, corporate finance, and operational leadership. Hiamabe is responsible for building out oil and gas retail arms and will bring this knowledge to Stratcon.

Under Arnaud’s leadership, Stratcon Energy & Trading aims to:

● Increase Downstream Solutions: In addition to continued bulk distribution, Stratcon will address the nation’s growing energy demands by providing storage facilities and optimizing efficiency to combat distribution losses.

● Expand Regional Operations: The company plans to service Ghana and deliver services across other West African markets, Stratcon will strengthen regional energy security and foster economic growth for local players.

● Implement Sustainable Practices: In line with President John Mahama’s policies emphasizing transparency and sustainability in the oil and gas sector, Stratcon Energy is committed to integrating green initiatives that will contribute to reducing carbon emissions and increase corporate social responsibility efforts into its operations.

“I am honored to join Stratcon at this pivotal time. Our focus on expanding storage capacities and regional operations aligns with the government’s vision to revitalize Ghana’s oil and gas sector. We are here to work collaboratively with public and private sector players to close the supply gap and to do it with operational excellence,” shared Arnaud.

Stratcon Energy spokesperson, Yelena Vukovic added, “Arnaud’s experience and strategic insight make him the ideal leader to navigate the complexities of Ghana’s oil and gas industry. His appointment reinforces our dedication to operational excellence and regional growth.”

About Stratcon Energy & Trading LTD

Stratcon Energy & Trading LTD is a Ghanaian-owned oil & gas supplier, with vertical integration capacity, supplying the downstream sector in Ghana and West Africa, at large. In 2023, the Ghana Chamber of Bulk Oil Distributors Industry Report named Stratcon as one of the top 10 importers of petroleum products in Ghana signifying its resilience and reliability.

With operations spanning from supply hubs in Dubai to distribution networks across West Africa, Stratcon Energy & Trading LTD is committed to delivering efficient and reliable energy solutions to both private and public sector clients.

As Ghana prepares to honour the towering legacy of Dr. Joseph Boakye Danquah on the 60th anniversary of his passing, a significant section of the country’s parliamentary leadership has lent its voice to the tributes immortalised in the commemorative compendium set to be launched at the upcoming remembrance service on 9th March 2025 at the Ebenezer Presbyterian Church, Kyebi.

The event, organised under the auspices of Okatakyie Boakye Danquah Ababio, the current Twafohene of Akyem Abuakwa, seeks to reaffirm Dr. Danquah’s immense contributions to Ghana’s democratic governance, intellectual tradition, and constitutional evolution. Leading these tributes is Hon. Alexander Afenyo-Markin, the Minority Leader, alongside a formidable group of Members of Parliament, spanning constituencies and political traditions, who have paid glowing homage to the statesman, philosopher, and legal luminary.

In his tribute, Hon. Afenyo-Markin reflected on Dr. Danquah’s dual role as a traditional leader and a modern constitutional thinker, remarking, “As Twafohene of Akyem Abuakwa, Danquah personified his belief that traditional institutions could coexist with modern governance. He demonstrated how chiefs might serve as custodians of local accountability, tempering the centralising tendencies of the state—a vision strikingly relevant today as Ghana implements, debates, and refines decentralisation.”

His Deputy, Hon. Patricia Appiagyei, echoed these sentiments, emphasising Danquah’s unwavering commitment to economic self-reliance and industrialisation, “His legacy serves as a reminder of the importance of self-reliance, industrialisation, and preserving Ghana’s rich cultural heritage. Dr. Danquah strongly advocated the need for Ghana to rely on its people for development after achieving independence.”

Hon. Kingsley Agyemang, MP for Abuakwa South, highlighted Danquah’s vision of democracy as an inclusive and mature political process: “Dr. Danquah’s legacy transcends the political ideologies of his time. His vision was deeply rooted in the belief that the true greatness of a nation lies not in its triumphs over others, but in its ability to bring people together, embrace diverse perspectives, and build a system founded on justice and accountability. His political philosophy called for a higher standard of political maturity, in which the opposition is seen not as the enemy, but as a vital contributor to the national discourse.”

For Hon. Korkor Asante Esq., MP for Atiwa West, the lesson from Danquah’s sacrifice is one that must never be forgotten: “Danquah died in prison as a political prisoner. He died for his ideas and beliefs. His tragic death in the dungeon of Nsawam prison remains a stain on our political history. Never again, never again, should any person be imprisoned on political grounds. Never again should Ghana be made to experience such a tragic death as Danquah’s death.”

Adding his voice, Hon. Kojo Oppong Nkrumah, MP for Ofoase Ayirebi, underscored Danquah’s foundational role in Ghana’s independence, lamenting attempts to obscure his contributions: “JB Danquah was a major contributor to Ghana’s independence and post-independence struggle. Despite attempts by the Political Left to water down his contribution, the facts of history outline Danquah’s part in procuring an independent Ghana and in helping build the structures of an early Ghana.”

Similarly, Prof. Kingsley Nyarko, MP for Kwadaso, spoke to Danquah’s indomitable patriotism, quoting from one of his final writings in 1964: “His contribution will never be lost on us; it was indeed enormous. His commitment and dedication to the cause and direction of the country were never in doubt. From his early years until his unfortunate death, one could realise his deep sense of patriotism and passion in ensuring the emancipation and prosperity of the country. A year before his death, he wrote, ‘…Even at the age of 68 I have not given up the struggle, even though…I have been crippled by it professionally and financially…But there is more to life than merely being alive or merely free, and I am determined to bring that ‘more’ into the life of our people…’”

In a fitting tribute to Dr. Danquah’s legacy of scholarship and intellectual rigour, Hon. Davis Ansah Opoku acknowledged the ongoing efforts to honour him tangibly: “To honour his legacy, I am pleased to acknowledge the efforts of Mrs. Rebecca Akufo-Addo, the immediate past First Lady of the Republic of Ghana and wife of President Nana Addo Dankwa Akufo-Addo, nephew of J.B. Danquah, in facilitating the construction of a modern library in Bepong. This initiative serves as a fitting tribute to a man with immense intellectual contributions. The facility has yet to be commissioned, and I have formally requested that it be named after Dr. J.B. Danquah. This would immortalise his name in his birthplace and inspire future generations who walk through its doors to pursue knowledge.”

A Momentous Event to Celebrate a Timeless Legacy

The commemorative compendium, which captures sixty statements marking sixty years since Dr. Danquah’s passing, is set to be launched during the remembrance service on 9th March 2025 at the Ebenezer Presbyterian Church in Kyebi. Under the leadership of Okatakyie Boakye Danquah Ababio, the current Twafohene of Akyem Abuakwa, this event will stand as a solemn reaffirmation of the enduring values and principles for which Dr. Danquah lived and died.

The gathering is expected to draw an illustrious assembly of academics, legal luminaries, political leaders, traditional rulers, and members of the media, all united in a singular purpose—to honour and celebrate the life of a man whose intellectual depth, legal acumen, and unrelenting commitment to democracy shaped Ghana’s destiny.

By Gideon Kwasi Annor

President John Dramani Mahama

President John Dramani Mahama has advocated increased indigenous participation in exploitating the country’s natural resources, as part of a broader strategy to revive the economy and reduce reliance on foreign entities.

Multinational companies dominate Ghana’s gold and oil industries, accounting for nearly 70 percent of total merchandise exports. This means that the revenue generated from these sectors does not fully benefit the Ghanaian economy, he said.

Speaking at the 2025 National Economic Dialogue, Mr. Mahama noted the need for Ghanaians to take a leading role in the extraction and exploitation of resources such as gold which have long been key to the nation’s economy.

“There must be increased indigenous participation in the exploitation of our natural resources,” Mr. Mahama declared. “Ghana must earn more from its natural resource endowment in order to play a role in prosperity for all,” the president declared.

Ghana’s extractive sector, particularly mining, significantly contributes to the nation’s economy; however, local participation in this remains low.

In 2023, the country produced approximately 4.2 million ounces of gold, accounting for about 4 percent of the world’s total output.

This production led to mineral revenues of US$5.9billion, with mining companies repatriating over US$4.2billion into the country through commercial banks and the Bank of Ghana, representing 71.3% of total mineral revenue for the year.

Additionally, Ghana’s mineral export receipts improved from US$6.8billion in 2022 to US$7.8billion in 2023, marking a 15 percent revenue increase attributed to the growth in export earnings from all minerals except manganese.

Gold exports alone accounted for US$9.58billion as of October 2024, representing more than half the total export earnings of US$16.5billion.

The president’s remarks come as the nation grapples with a severe economic crisis marked by elevated inflation, high unemployment and declining foreign investment.

Mr. Mahama’s call for greater domestic involvement in the extractive industries aligns with his broader vision of transitioning the country from a raw material exporter to a value-added industrialised economy.

He stressed that the country’s over-reliance on exporting unprocessed resources has left it vulnerable to global price fluctuations and external shocks.

“It’s time to transition into a value-added industrialised economy that creates jobs, boosts exports and reduces our reliance on imports,” he said.

The president’s speech also touched on a need for structural reforms to unlock the private sector’s potential and drive job creation.

Similarly, the Institute for Fiscal Studies (IFS) last week also called for a fundamental shift in Ghana’s approach to managing its external sector, urging government to reconsider the ownership structure of Ghana’s two largest exports – gold and oil – to ensure that more foreign exchange earnings remain within the economy.

In it’s recommendations ahead of the 2025 budget presentation in parliament this month, the policy think-tank stated that despite the country’s consistent trade surpluses in recent years, the cedi has continued to depreciate sharply -highlighting a structural weakness in the country’s balance of payments.

IFS recommended a restructuring of the extractive sector ownership model. The think-tank proposes two key strategies: increasing state participation in gold and oil production through joint ventures or adopting production-sharing agreements, which would allow government to retain a larger share of export revenues.

“Taking commanding interests in gold and oil through joint ventures or production-sharing agreements is not just an economic necessity; it is a strategic move to secure Ghana’s financial stability,” Dr. Boakye stated.

“This approach will generate more fiscal revenue for government while also ensuring that a substantial portion of foreign exchange earnings remains within the country to support the cedi.”

IFS warns that without such reforms, the nation will remain vulnerable to currency volatility and economic crises. The country’s dependence on external borrowing to manage exchange rate fluctuations has repeatedly led to unsustainable debt accumulation, triggering fiscal distress.

The policy think-tank argued that the current crisis, which began in 2022, is a direct result of this pattern.

Data from the Bank of Ghana shows that between 2017 and 2023 the country recorded positive trade balances each year, with total merchandise exports rising from an average of US$14.8billion between 2017 and 2019 to US$17.1billion between 2022 and 2023.

However, this increase did not translate into exchange rate stability. Instead, the cedi’s depreciation rate surged from an annual average of 8.7 percent between 2017 and 2019 to 28.9 percent in the 2022-2023 period.

The reason, according to IFS, lies in the extractive sector’s ownership structure .

Tema, March 4, GNA – A tragic accident occurred on Monday evening at Bediako, Kpone-Katamanso, along the Tema-Mpakadan Railway Line, claiming the life of a 32-year-old woman identified as Yahaya Jamila.

Eyewitnesses say the victim was attempting to cross the railway tracks with a young boy, believed to be about two years old, when the unfortunate incident happened.

While details remain unclear, some witnesses suggest that the boy may have strayed toward the tracks, and in an attempt to rescue him, the woman got trapped.

Others claim she was wearing earphones and may not have heard the train’s horn in time.

The train, which was moving at high speed, ran over the woman, crushing her head.

The train stopped a few meters away but resumed its journey shortly after, leaving the woman’s mutilated body behind.

The Community 25 Police have since commenced investigations into the incident as Mr Isaac Newton Tetteh, Assembly Member for the Nmlitsakpo Electoral Area confirmed.

Authorities are yet to release an official statement on the incident, but concerns have been raised about safety measures along the railway line to prevent such accidents in the future.

GNA

Engineering is more than a profession—it is the backbone of modern civilization. As we commemorate the International Day of Engineering, it is an opportunity to reflect on the critical role engineers play in shaping the world’s infrastructure, particularly in the energy sector. From ensuring the reliability of power generation to pioneering sustainable solutions, engineering remains a driving force for progress.

As a chemist on the Powership and an engineer, my role is both dynamic and essential. Chemistry and engineering are deeply intertwined in power generation, from fuel quality optimization to environmental compliance and efficiency enhancement. At Karpowership Ghana, we leverage cutting-edge technology to ensure that our floating power plants operate at peak performance while maintaining environmental sustainability.

The Intersection of Chemistry and Engineering in Power Generation

The power sector is evolving rapidly, requiring engineers to blend scientific principles with practical application. As a chemist-engineer, I oversee fuel quality analysis, water treatment processes, and emissions control, ensuring compliance with international environmental standards. These aspects are critical in maintaining operational efficiency and reducing our environmental footprint.

Beyond technical expertise, engineering in the energy sector demands resilience, adaptability, and continuous innovation. Floating power plants, like those operated by Karpowership, are a testament to engineering ingenuity—bringing reliable, affordable, and cleaner energy solutions to communities worldwide. My role allows me to bridge the gap between chemical sciences and engineering principles, ensuring that the fuel we use is optimized for efficiency and sustainability.

Women in Engineering: Breaking Barriers and Leading Change

While engineering has traditionally been a male-dominated field, women are increasingly making strides, contributing their expertise, and driving impactful change. As a female engineer on the Powership, I take pride in representing both my profession and my company. Karpowership Ghana promotes an inclusive work environment that values diversity and empowers women to take on leadership roles in technical fields.

Through mentorship and continuous professional development, we can inspire the next generation of female engineers. Young girls aspiring to enter STEM careers should be encouraged and given the right resources to pursue their dreams. My journey in engineering is proof that with determination, passion, and the right support, women can thrive in technical roles and contribute meaningfully to industry advancements.

Engineering a Sustainable Future

The global energy landscape is shifting towards sustainability, and engineers play a pivotal role in this transition. At Karpowership, we are committed to exploring cleaner energy alternatives and enhancing operational efficiencies. Innovation in energy storage, fuel technology, and emissions management will define the future of power generation, and engineers must lead the way.

On this International Day of Engineering, I celebrate not only my journey but the collective efforts of engineers worldwide who dedicate their expertise to building a more sustainable future. As we look ahead, let us continue to innovate, inspire, and push the boundaries of what is possible in engineering.

Conclusion

Engineering is a catalyst for progress, and the energy sector remains one of its most critical frontiers. At Karpowership Ghana, we are proud to be at the forefront of energy innovation, ensuring that our floating power solutions deliver reliable electricity to millions. As a chemist-engineer, I am honoured to contribute to this mission and to be a part of an organization that values excellence, sustainability, and inclusivity.

To all aspiring engineers, especially young women looking to break into the field—keep pushing forward, keep innovating, and keep believing in your ability to change the world.

Happy International Day of Engineering!

SOURCE: PEARL ABROKWAH

Efforts by organisers of Diaspora Property Expo 2025 (DPE2025) to attract investment to Ghana, particularly in the real estate sector, have been commended by Vice President Naana Jane Opoku-Agyemang.

The DPE2025 is scheduled to take place from 21st to 23rd March in Philadelphia, Pennsylvania, to connect Ghanaian real estate developers with diaspora investors from the USA and Canada.

A meeting was held at the Vice President’s office in Cantonments, Accra, with a team representing the DPE2025 organisers, during which the importance of promoting the expo to encourage direct investments that could spur economic growth and infrastructure development in Ghana was emphasised.

The DPE2025 delegation included Mr. Thomas Young, President of the World Trade Center in Philadelphia, who was visiting Ghana ahead of the expo.

Other representatives present on behalf of DPE2025 included Nana Kwesi Atomu II of Atomu Africa Development, Sidney Justin Tehoda, Verus Nartey, Nana Obokese, CEO of Nkunim Diaspora City, and other representatives from Diaspora Property Investment Limited.

Dr. Samuel Ofosu Ampofo, Political Advisor, Professor Theresa Ennin, Special Aide, and Maame Ama Pratt, Press Secretary, accompanied the Vice President during the meeting.

The DPE2025 is being organised by Diaspora Property Investment Ltd, Made in Ghana Consulting Ltd, the Ghana Real Estate Developers Association (GREDA), World Trade Centre Philadelphia, Nkunim Diaspora City in Mankesim, and Atomu Africa Development Services.

The event is being held in partnership with institutions such as the Ministry of Works, Housing, and Water Resources, the Ministry of Foreign Affairs, the Ghana Embassy in Washington DC, the office of Representative Amen Brown of Pennsylvania, and the office of the Mayor of Philadelphia.

Around 25 exhibitors from various sectors of the real estate and property market in Ghana have been registered to participate in the inaugural edition of the DPE, which will be held at 1735 Market Street, Philadelphia, Pennsylvania.

The importance of increasing Ghana’s exports to the United States, particularly to the city of Philadelphia, was highlighted by the Vice President.

This statement was in line with comments previously made by Mr. Thomas Young, who indicated that Pennsylvania is exploring broader economic opportunities beyond the expo to foster long-term partnerships for the mutual benefit of both Ghana and the United States.

Overall, the meeting was deemed productive, with both sides stressing the importance of strengthening trade and investment ties between the two countries through DPE2025 and other joint ventures.

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.

Today, Ghana stands at a critical juncture in its economic journey. As we gather for the National Economic Dialogue, we are reminded that our collective unity of purpose is the key to unlocking a brighter future for all citizens.

The first National Economic Dialogue in over a decade marks a pivotal moment in our nation’s history. It is an opportunity to reflect on our economic reality, address pressing challenges and chart a course towards a more prosperous future.

We face significant economic puzzles, including severe currency depreciation, hyperinflation and rising fuel and electricity prices. 

However, with the collective expertise and experience gathered at the two day dialogue, we can drive structural reforms and a transformation agenda to reset our economy.

We have had the benefit of such gatherings. There was the Senchi Accord in 2015 which brought together same actors if not similar.  

A decade afterwards, we are back to the same issues, government over-boated expenditure, high interest rates, high unemployment rates, an economy that only serves a few rather than the majority.

As the Graphic Business had often time quoted former President Rawlings “our problem is not knowing what to do but in doing what we know we should do”. 

While we seem to have all the solutions for economic emancipation (especially when we are out of office), political actors seem to have a different orientation when they have the power to influence the change we want and to change the cause of history. 

Listening to the President and Finance Minister, one is convinced they know what our challenges are and understand the implications of not doing anything radical that will have dire implications for the economy. 

In other words, in resetting the economy, we cannot have the conventional way of “all talk and no action”. 

It will require not just a shift from the old political mindset of throwing the bare bones to the citizenry to chew on while feeding fat on the very people who trust their hopes in the political class to turn their fortunes around.

Bold and decisive actions will require critical thinking and innovative ideas that create opportunities for everyone not just a few.

If the recent demonstrations in and around party offices and some state agencies where the youthful population are crying out for jobs just two months into the office of a new government is anything to go by, it goes without saying that the patience of the voting public, especially the youth is growing thinner.

Therefore, we must act with dispatch and with sincerity. The Graphic Business believes that the government has taken key steps towards recovery which includes fiscal discipline and good governance.

The streamlining of the size of government: Reducing the number of ministers from 123 to 60, significant reductions for the Office of the President and prohibition of first-class travel for all government officials.

These actions demonstrate the government’s commitment to transparency, accountability and good governance. These are all good optics and we wait to see how these match with actionable steps to redeem the economy.

As we embark on the development of our medium-term plans, commencing with the forthcoming budget on March 11, we must acknowledge the significant toll borne by every Ghanaian.

We must work together to stem the bleeding and place our economy back on the right trajectory.

This will require significant sacrifice from all of us. However, with our collective unity of purpose and commitment to transparency, accountability and good governance, we can overcome the challenges ahead and secure a prosperous future for all Ghanaians.

As we move forward, let us draw inspiration from the Finance Minister’s statement, “adwen nyi baako fo tiri mu” – knowledge does not reside in the head of one person. Together, this country can achieve greatness.