Kwesi Afreh Biney, Director-General of SSNIT

The Social Security and National Insurance Trust is betting on the widely used mobile money to improve pension accessibility and convenience, as it deepens its digital transformation strategy to reach a broader base of contributors.

With mobile money transaction volumes and values surging to record highs in 2024, SSNIT is integrating mobile money platforms into its service delivery model. The aim is to make pension-related services more accessible to informal sector workers and the broader population who already use mobile wallets daily for payments and remittances.

“Almost everyone in Ghana today uses mobile money,” said Kwesi Afreh Biney, Director-General of SSNIT, during the Trust’s 52nd branch launch on the Spintex road in Accra.

“We use it to make payments, to transfer funds and it cuts across all demographics. It just makes sense for us to ride on that convenience,” he added.

The shift forms part of SSNIT’s broader strategy to digitise services and increase contributor touchpoints. Beyond mobile integration, the agency has rolled out a virtual branch platform offering 24-hour access to services such as benefit claims, compliance engagements and data updates. Contributors can now access nearly every service remotely that they could in a physical SSNIT office.

“We’re scaling up to the next level of digital performance,” Biney said. “From USSD to a functional app and now a virtual branch – we’re available when our members are ready.”

SSNIT’s move comes amid a nationwide surge in digital financial activity. In 2024 mobile money transaction value soared to a record GH¢3.02trillion, up nearly 58 percent from the previous year.

Monthly volumes peaked at 745 million transactions in December 2024. Early 2025 figures suggest momentum remains strong, with GH¢649.2billion worth of transactions recorded in just January and February.

Elimination of the controversial Electronic Transaction Levy (E-Levy) in early 2025 is expected to further accelerate mobile money adoption and, by extension, digital pensions engagement.

While improving access remains the primary goal, SSNIT is also eyeing investment reforms to sustain pension payouts. Mr. Biney noted recent concerns over non-performing assets of the Trust, saying the Trust is actively rebalancing its portfolio toward higher-yield areas.

“We’ve reviewed our portfolio and are channelling more funds into fixed income securities and listed equities – especially in banking, telecoms and industrial sectors – which are delivering strong returns,” he noted. The Trust is also expanding its footprint in the energy sector, leveraging positive performance from its Tema power plant and planning new operations in Kumasi.

SSNIT’s stance on the national retirement age remains cautious. Although stakeholders, including the National Pensions Regulatory Authority, have floated ideas to raise the retirement threshold, the Director-General says any such move requires broader consultation and economic consideration.

“Increasing life expectancy is a factor, but high unemployment also means we need to create room for younger workers. This is a conversation for all stakeholders,” he said.

English-born forward of Ghanaian descent Eddie Nketiah netted a brace in Crystal Palace’s penultimate game of the season in their win over Wolverhampton Wanderers.

Nketiah scored twice in the first half as Oliver Glasner’s side picked up a 4-2 win at home on Tuesday night.

Wolves went ahead in the game after 24 minutes when Emmanuel Agbadou scored from Jorgen Strand Larsen.

That lead only last three minutes.

Nketiah hit a brilliant curler into the bottom corner after being played through by Romain Esse to draw Palace level.

Five minutes later, a good combination play involving Daniel Munoz, Ismaila Sarr and Nketiah saw the latter scored from just yards out to give the Eagles the lead.

After the break, Ben Chilwell scored from a free kick off a deflectiom from a Wolves player to make the scoreline 3-1 in the 50th minute.

Strand Larsen pulled one back for Wolves before Eberechi Eze came off the bench to score the fourth of the game for Palace, wrapping up all three points.

With his brace against Wolves, Nketiah now has three goals and one assist in nine league starts for the Eagles following his arrival from Arsenal.

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.

Ahmed Ibrahim, Minister for Local Government, addresses the audience

The Minister of Local Government, Chieftaincy and Religious Affairs, Ahmed Ibrahim, has reiterated government’s commitment to strengthening property taxation as a strategic tool for domestic revenue mobilisation and sustainable development at the local level.

Speaking at a workshop organised by the African Cities Research Consortium (ACRC) in collaboration with the Local Governance Network (LoGNet), he explained that property taxation remains one of the most underutilised yet potentially transformative revenue sources available to Metropolitan, Municipal and District Assemblies (MMDAs).

Ibrahim noted that despite the long-standing intention for property tax to serve as a financial cornerstone for MMDAs under Ghana’s decentralised governance system, the vision has largely remained unfulfilled.

“Property taxation is a powerful yet underexploited revenue tool in Africa and Ghana is no exception. Its potential is constrained by systemic challenges such as outdated valuation rolls, fragmented property registers, weak enforcement mechanisms and low taxpayer confidence,” he stated.

The minister also pointed to structural issues, including lack of clarity in mandates between central and local governments, inadequate technical capacity, technological gaps and political resistance as significant obstacles hampering effective property tax collection.

Under Section 144 of the Local Governance Act, 2016 (Act 936), MMDAs were originally mandated to collect property taxes. However, a centralised system introduced by the previous administration – managed by the Ghana Revenue Authority (GRA) – shifted that responsibility, undermining local government revenue mobilisation efforts.

While the unified system was designed to enhance national oversight and streamline processes, it ultimately weakened the financial autonomy of local authorities. The current administration, under its Resetting Agenda, has pledged to reverse the policy and return collection responsibilities to MMDAs – accompanied by technical support and capacity-building initiatives.

In a forward-looking move, Mr. Ibrahim also disclosed plans of introducing municipal bonds to help MMDAs raise funds for targetted development projects. Additionally, he revealed that government is working toward enacting the Local Government (District Assemblies Borrowing) Act.

This legislation will enable local authorities to access capital markets and foster public-private partnerships (PPPs) for financing infrastructure and improving service delivery.

“The way forward is empowering MMDAs – not just with the mandate, but also tools and resources to effectively collect and manage property taxes,” he concluded.

Screenshot from GMet’s May 21 weather update post on X.

The Ghana Meteorological Agency (GMet) has signaled to the public that the weather will be mostly cloudy at certain parts of the country in the morning with some rains in parts of the country from late afternoon towards the evening.

Details from the pictorial forecast from GMet showed a cloudy weather is expected to dominate most places in the country this morning with mist or fog patches forming along the coastal, mountainous, and forested areas in the early hours.

The forecast added that the marked areas will experience sunny weather as the day progresses with occasional cloud.

It added that the development will prevail across all sectors of the country.

The forecast, however, showed that few areas along the coastal, middle, transition and northern sectors are expected to be affected by thunderstorms with or without rain from late afternoon into the evening hours.

“Mostly cloudy weather is expected to dominate most places within the country this morning with mist or fog patches forming along the coastal, mountainous, and forested areas in the early hours.

“Few areas along the coastal, middle, transition northern sectors are expected to be affected by thunderstorms with or without rain from late afternoon into the evening hours,” a summary of the forecast stated.

See the pictorial weather forecast below

development will prevail across all sectors of the country. However, few areas along the coastal, middle, transition and northern sectors are expected to be affected by thunderstorms with or without rain from late afternoon into the evening hours. pic.twitter.com/mjXFu7Au7y

— Ghana Meteorological Agency (@GhanaMet) May 21, 2025

VPO

After the heavy rains over the weekend, a lot of debris have been left across many parts of Accra. Watch some of the destructions below:

Ghanaian gospel musician Gifty Oppong Adorye, known in showbiz as Empress Gifty, has sued Evangelist Patricia Asiedu (Nana Agradaa) of Heavens Way Church for making defamatory statements about her. 

In a writ of summons sighted by myjoyonline.com, Empress Gifty is demanding 20 million cedis from the traditional priest-turned-pastor in damages. 

According to the writ, the Plaintiff (Empress Gifty) says that on 13th May 2025 the Defendant (Nana Agradaa) who seems to have a disagreement with the Plaintiff’s husband (Hopeson Adorye) took to her social media handles (Facebook, TikTok, and YouTube) and in a live broadcast and attacked the Plaintiff’s husband. She further spoke the following words defamatory of the Plaintiff in Twi language with its respective English translation stated below: 

Twi: “wo tuutuuni yere no mpo wo bu no, wo yere odwamanfoo no mpo wo bu no, nkraman ne wo yere da tafri wo yere twe mu di sika bre wo.” 

English: “You even respect your promiscuous wife, you respect even that wife of yours who is a prostitute, your wife flirts with dogs, dogs lick your wife’s vagina, that is how she makes money to cater for you.”

Twi: “osofoo biara a, obeto nsa afro wo yere ako alter, ne no da wo Office ha ansa na w’aba abeto dwom wo asenka agua so.” 

English: “pastors who invite your wife to sing have sexual intercourse with her in their offices before she mounts the pulpit to sing.

Twi: “Woyere no, oyefo sene obiara, adwaman nti Asofoo ne no de da. wo agyae no, rebetaetae me.”

English: “You left your cheap prostitute wife that have sexual intercourse with pastors, to attack me.” 

Twi: “Wo nkwaseasem no a, wode lea wo yere kwasea no so no, Me nnye toy te se wo yere no, me nnyi me hwene te se wo yere, Wo yere no a, ne twe adane asofoo no bi chop bar bowl.” 

English: “I’m not a toy like your wife, I have not repositioned my nose like your wife, do not extend the foolish things you do to her to me Your wife’s vagina has become a common eating bowl for some pastors.”

The writ further indicates that “in their natural and ordinary meaning the words complained of in paragraph 9 were understood to mean that: 

a) The Plaintiff is promiscuous and a prostitute. 

b) The Plaintiff is a zoophile, who flirts with dogs to earn her money to cater for her husband. 

c) The Plaintiff is an adulterous or an unchaste wife who has extra marital affairs, with other men and that most of her paramours are pastors. 

d) Pastors who invite the Plaintiff to their programs have sexual inter course with her in their offices before Plaintiff mounts the pulpit to sing. 

e) The Plaintiff is an imbecile. 

Empress Gifty (the Plaintiff) also avers that the live broadcast made by the Defendant afforded other social media bloggers the opportunity to take the feed to their followers contemporaneously.”

The ‘Watch Me’ singer says the defamatory words spoken and published by the Nana Agradaa of her, is on the internet worldwide, and being widely circulated on various news portals and social media platforms in which the Plaintiff continue to be on the receiving end of severe and disdainful backlash. 

She further indicates that the widespread effect of the Defendant’s words on the Plaintiff is that she has become the subject of discussion on media outlets locally and internationally and has affected her children who are taunted and ridiculed by their mates in school. 

The lawyers say as a result of Nana Agradaa’s actions, the credit and reputation of Empress Gifty, both personal and public have seriously been damaged and have brought same into public ridicule, scandal, odium and contempt.

They also highlight that the Plaintiff who is a brand ambassador to numerous companies as indicated has suffered collateral damage. 

Consequently, Empress’s lawyers aver that her international programme slated for August 2025 has been affected due to the words uttered by Nana Agradaa about her. 

 As a result of this, Empress Gifty is claiming against the defendant the sum of Twenty Million Ghana Cedis (GHS20,000,000.00) for damages for slander and libel of Plaintiff by the Defendant. 

She is also requesting for an order of perpetual injunction to restrain the Defendant, her servants, agents, privies, assigns howsoever from publication of such words or any of them or similar words to that effect. 

The gospel singer also wants an order for the Defendant to pull down all the videos, audios in which she spoke the words defamatory of the Plaintiff from all her social media handles. 

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.

Dean-University of Cape Coast Business School, Prof John Gatsi, is urging government “continue watching the market, take policy action and revise policies to ensure that they address emerging dynamics of the global and internal economy and boost our underperforming exports” – thus consolidating gains the cedi has made so far.

Speaking in an exclusive interview with Business and Financial Times (B&FT), the academic commended government for its prudent fiscal consolidation efforts and the Bank of Ghana’s firm monetary policy stance.

He further urged government to sustain its “comprehensive and broadening approach to gold purchases under the Gold Board”, describing the initiative as one that “resonates well with the economy” and holds strong potential for long-term macroeconomic stability.

From May 2024 to April 2025, the Bank of Ghana stacked up 8.9 tonnes of gold, representing a 40.6% increase in its gold reserves. This took total gold reserves at the central bank from 22.3 tonnes to 31.2 tonnes in about a year.

Ghana also exported 30,479.5kg of gold worth US$2.7 billion from January to April 2025, according to data from the Gold Board (Goldbod).

This marks a significant increase from US$862.4million recorded in the same period last year.

Initiatives such as Gold for Reserves and Gold for Oil helped to beef-up the country’s gold and foreign exchange reserves.

Fiscal reforms under the ongoing IMF programme, anticipation of the US$370million disbursement and abolition of nuisance taxes like the E-levy coupled with prudent expenditure cuts have enhanced fiscal credibility.

The suspension of external debt servicing also provided some crucial breathing room on foreign reserves, with the next major payment due in July 2025. This has reduced pressure on foreign exchange reserves.

“Fiscal discipline in terms of expenditure control should continue,” Prof Gatsi encouraged.

The renowned academic touted the Bank of Ghana’s tight monetary stance as a significant contributor to recent gains and said it should be maintained as the economy slowly regains its feet.

The Bank of Ghana’s Monetary Policy Committee (MPC) increased the policy rate by 100 basis points from 27 percent to 28 percent on March 28, 2025, marking the first increase in a while.

The central bank’s injection of US$490million into the forex market in April 2025 further supported the currency’s remission.

The call came after the cedi staged a remissive bout against the dollar and other major trading currencies, appreciating about 16 percent against the dollar, according to Bloomberg.

The cedi was named ‘best performing currency in the world’ for the month of May by Bloomberg.

On the interbank market, the cedi is trading at GH¢12.22 to US$1, GH¢16.32 to £1 and GH¢13.73 to €1.

The Minister of Finance, Dr Cassiel Ato Forson, explained earlier that this positive trend in the exchange market is underpinned by sound economic planning and strategic interventions.

“The stability and appreciation you are witnessing is not a knee-jerk reaction; it is the product of careful, well-thought-out planning,” he was quoted as saying at a meeting with leadership of the Food and Beverage Association-Ghana (FABAG).

However, how sustainable are the gains?

Touching on how sustainable the gains are, Prof Gatsi maintained that: “It is not possible to have the cedi appreciating all the time,” highlighting the need for continuous effort to reach a “point of stability”.

“We want to see that the cedi’s direction is certain, stable and can be maintained for a long period to ensure we do not occasion the difficulties of a volatile currency,” Prof Gatsi stressed.

“We have to reach a plateau and that is our point of stability. We want the cedi to get to a point, even if it is GH¢10. Then after that we will see it moving around GH¢9.8, GH¢9.7, GH¢10.1 or GH¢10.2 – so that we know it is stabilised at around GH¢10 to US$1,” he noted.

According to him, this will help bring sanity to the economy, aiding businesses and government plan effectively to prevent overruns.

While some experts attribute recent appreciation of the cedi against major trading currencies to global economic shifts – such as trade tensions between the United States and other major economies like China, as well as recession concerns that have weakened the dollar – Professor Gatsi contends that this narrative is not entirely accurate.

He argued: “The tariff war alone does not automatically contribute to the Ghanaian economy’s benefit.

“It is only when you have a cogent and formidable internal policy framework that you can take advantage of global developments,” he added.

Gold and cocoa, being Ghana’s major exports, accounted for 63.7 percent of the country’s total exports in 2024. Their combined export value was GH¢215.57billion from a total export value of GH¢250.2billion.

In view of this, the hike in gold and cocoa prices will have a positive impact on the cedi.

Gold price has reached US$3,222 per ounce and cocoa price hit US$10,906 per tonne according to Reuters, significantly boosting foreign exchange inflows.

Meanwhile, inflation has declined for four consecutive month – having eased significantly from the 23.8 percent recorded in December 2023 to 21.2 percent in April 2025.

The World Bank has projected inflation dropping to 17.2 percent in 2025. Despite the fact that this is way higher than Ghana’s IMF programme target of 15 percent, government is targetting slashing inflation to 11.9 percent by year-end.

Commenting further, Prof. Gatsi emphasised “the need for us to produce what we consume to reduce our overdependence on imports”, which has dire implications for inflation and the cedi’s stability.

“We need to step up the effort to increase domestic production by creating an environment that allows our businesses to operate competitively,” he said, alluding to the challenges most Ghanaian businesses face.

Very rigid regulatory demands and high production costs make goods produced in-country more expensive than imported ones.

However, despite the regulatory framework in place to ensure locally made products are of quality standard, some products cannot make it out of the country into international markets because they do not meet requisite standards.

Prof Gatsi also called for Ghana Standards Authority to be reformed – ensuring that locally made products are fit for export to boost the country’s export portfolio and help stabilise the cedi in the long-term.

“We need to allow the regulatory regime to be reformed quickly. The Ghana Standards Authority should be up to the task, so that when they assess our standards they can meet international standards,” he said.

“We need to speed up exports with value addition and promote the consumption of made in Ghana products,” he stressed.

While commenting on the call by trade unions to reduce prices of their products following the cedi’s appreciation in value against the dollar, the professor acknowledged that: “Some businesses have started reducing their prices. This will have an effect on inflation and cost of living going forward.

“It’s not surprising that businesses are responding in terms of reducing their prices; some will follow later,” he added.

According to him, this underscores the confidence and reliability currency gains have brought to the business community in Ghana.

“If businesses have the belief that this will be the case for some time, then it is easy for them to heed the call,” he concluded.

The newly appointed Managing Director of PBC Shea in Buipe, Savannah Region, Abubakari Abdul Mumin, says the revitalised shea butter processing factory is here to stay.

He said it will serve as a practical example of President John Dramani Mahama’s 24-hour economy policy.

Mr. Mumin revealed that the factory is now set to operate three separate shifts daily, aiming to generate an estimated 30,000 direct and indirect jobs for the youth, including women.

“All departments of the factory are still functional,” he said.

“I’m bringing my technical and practical understanding of the industry to partner with government to create jobs for the youth and wealth for the country.”

In an interview with JoyNews in Buipe, Central Gonja District, Mr. Mumin said President Mahama has charged him to transform the PBC Shea facility into a hub for employment and revenue generation.

“When the appointment letter was given to me by the president, he gave me two cardinal conditions. First, I should create jobs. Second, create wealth for the central government,” he stated.

“With this vision, my plan is to run three working shifts a day — morning, afternoon, and night — so we can effectively engage over 30,000 people.”

President Mahama first cut the sod for the construction of the multipurpose factory in 2012 and commissioned it that same year to begin processing raw shea into butter, and soya beans into oil and cake.

However, the factory faced leadership instability following the 2012 general elections. Four different managing directors took charge over the years, the latest being Madam Gabiana Agbanwa, who recently handed over to Mr. Abdul Mumin.

Despite past managerial setbacks, the factory still has several potent plants in place. These include a water plant, which produces 5,700 gallons per day and 2,562 litres per hour; a solvent extraction plant (ACP); an oil mill; a boiler; a laboratory; and a DOC room.

The facility also houses an underground fuel deposit, but over the years has relied on its DOC plant to generate its own energy to power operations across the factory.

Mr. Mumin says the renewed focus and leadership will restore the factory’s full potential and anchor the region’s economic transformation.

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

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

 The Ghana cedi will end this year at GH¢15.50 to one US dollar, with an annual average of GH¢15.30/US dol­lar, Fitch Solutions has predicted.

This is far higher than the GH¢14.00 end-of-year forecast by Absa Bank. The local unit however started the year trading at GH¢15.83 to one American greenback.

In its latest report, dubbed “High gold prices will shield Gha­naian economy from tariff fallout”, the UK-based firm said it expected the Bank of Ghana to focus on keeping the cedi stable, facilitated by elevated gold prices.

The report however stated that “this will not be enough to preserve the stability of the cedi for the entire year.”

“We expect the BoG to focus on keeping the cedi stable, facili­tated by elevated gold prices. Amid ongoing uncertainty surrounding US trade policy, market expecta­tions of interest rate cuts by the US Federal Reserve, and continued geopolitical tensions, our commod­ities team forecasts that gold prices will average a record US$3,100 per ounce this year – up 29.7 per cent from 2024,” the report said.

“Coupled with a lower energy import bill due to declining oil prices, this will drive Ghana’s current account surplus to an all-time high of 6.9 per cent of GDP [Gross Domestic Product] in 2025,” it said.

The report said it expected for­eign exchange reserves to increase from US$6.4 billion to US$11.5 billion.

“The strengthened external position will enable the BoG to mitigate any bouts of cedi volatility stemming from global risk-off sentiment,” the report said.

The Ghana cedi continued to gain further ground against the US dollar, appreciating by 17.17 per cent as of Monday.

It went for GH¢13.50 to one American greenback in the retail market, cementing its position as the world’s best currency.

 BY TIMES REPORTER

Telecel Group, a telecommunications pro­vider has reaffirmed its dedication to Ghana’s sustainable development through impactful Corporate Social Responsibility (“CSR”) initiatives focused on digital skills education.

This commitment is for­malised through a strategic partnership with the Ministry of Communication, Digital Technology, and Innovations and aligns closely with the national agenda set by the President John Dramani Mahama.

A statement issued by the company in Accra yesterday said “Central to the initiative is the launch of the Startocode programme, a multilingual digital education platform built by Telecel to provide affordable and accessible coding education to students worldwide.”

The platform, it said had contributed to the education of thousands of students, especially across Africa, empowering them with critical skills for the digital economy.

“Telecel has decided to provide Startocode free of charge to a significant number of Ghanaians who sign up through the gov­ernment’s One Million Coders Programme (“OMCP”), further amplifying its commitment to inclusive and scalable education,” the statement said.

The OMCP, launched by Pres­ident Mahama in April 2025, aims to equip one million Ghanaians with essential digital skills to meet the demands of the 21st century economy.

Telecel’s participation in OMCP through Startocode sup­ports this visionary initiative by enabling large-scale education and training that can reach thousands of students, including those in underserved and rural areas, while maintaining high standards of quality and efficiency.

“We commend President Mahama for his visionary lead­ership in launching the One Million Coders Program,”Mr Moh Damush, Group CEO of Telecel Group said.

He said “By providing Starto­code free of charge to a signifi­cant number of Ghanaians who enroll in OMCP, we are proud to support this national effort to em­power the youth with vital digital skills that will transform lives and strengthen Ghana’s economy.”

Startocode’s platform is designed to deliver flexible, self-paced learning combined with mentorship and hands-on projects, ensuring an efficient and engaging educational experience. Its multilingual capabilities enable broader access, helping overcome language barriers and reaching a diverse student base across Ghana and beyond.

A joint signing ceremony is proposed to be held under the patronage of the Minister for Communication, Digital Technol­ogy, and Innovations, to publicly announce Telecel’s contributions and the launch of this important initiative.

The Minister for Communi­cation, Digital Technology and Innovation Mr Sam George stated that “The partnership between the Ministry and Telecel Group marks a pivotal moment in our mission to bridge the digital divide and ensure no Ghanaian is left behind in the digital era.”

“ The One Million Coders Program is not just about teaching code – it’s about unlocking po­tential, fostering innovation, and creating pathways to sustainable livelihoods for our youth across the country,” he said.

“We are proud to collaborate with forward-thinking partners like Telecel who share our vision of inclusive digital empowerment. The integration of Startocode into OMCP brings world-class digital education within reach for every Ghanaian, particularly in under­served communities. This initiative is a testament to our commitment to building a resilient, future-ready digital economy,” he said.

 BY TIMES REPORTER

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Business News

May – 21 – 2025 , 07:47

Since docking in Ghana in 2015, Karpowership’s Ka­radeniz Powership Osman Khan has become a corner­stone of the country’s energy supply consistently delivering reliable electricity to power homes, businesses, and indus­tries.

As the first floating pow­er plant to serve Ghana, the Powership brought with it an innovative solution to a press­ing national challenge and has remained a trusted partner in Ghana’s energy journey ever since.

In 2019, Karpowership made a landmark decision by relocat­ing its 470 MW Karadeniz Pow­ership Osman Khan from Tema to the Sekondi Naval Base in the Western Region. This move enabled the switch from heavy fuel oil (HFO) to cleaner, locally sourced natural gas. The result? Substantial cost savings for Ghana, reduced reliance on imported fuel, and lower elec­tricity generation costs helping to ease the financial burden on government and improve tariff stability for consumers.

Karpowership’s unique plug-and-play model offers rapid de­ployment unmatched by tradi­tional land-based power plants. With no need for extensive construction or land acquisition, each Powership is deployed and connected to the national grid within weeks. This ability to re­spond swiftly to urgent energy needs has made Karpowership a trusted partner during periods of power shortfalls delivering immediate relief and long-term stability.

High efficiency,

multi-fuel technology

Equipped with advanced dual-fuel engines and gas tur­bines, Karpowership’s floating power plants operate efficiently on a variety of fuels, including natural gas (NG), liquefied natural gas (LNG), and low-sul­fur HFO. This fuel flexibility ensures uninterrupted power generation, cost-effective oper­ations, and optimal adaptation to Ghana’s changing energy landscape.

Each Powership is a fully self-contained energy facility. With onboard fuel storage, high-voltage substations, staff accommodation, and mainte­nance workshops, these vessels minimise the need for external infrastructure. This not only reduces environmental impact but also accelerates power delivery—providing dependable electricity directly to the grid.

A key contributor to Ghana’s energy security

Today, Karpowership pro­vides around 12 per cent of Ghana’s total electricity supply, powering homes, businesses, and industries across the coun­try. Its commitment to efficien­cy, reliability, and sustainability has helped strengthen the na­tional grid and drive economic growth.

A vision for a brighter

energy future

Karpowership’s contribution goes beyond power generation. The company is a committed partner in Ghana’s develop­ment, focused on delivering affordable and sustainable ener­gy solutions that uplift commu­nities and support long-term national goals. With innovation at the heart of its operations, Karpowership is proud to play a vital role in building a resilient and future-ready energy sector for Ghana.

The donation was made at the residence of the Council of State Member in Weta

Council of State Member Gabriel Tanko Kwamigah-Atokple has donated relief items to support victims of recent tidal waves that devastated Agavedzi, Amutinu/Salakope, and surrounding communities in the Volta Region.

The donation, made at his residence in Weta, included bags of rice, sugar, boxes of spaghetti, and cooking oil.

The items were presented to Dodzi Kofi Aidam, Deputy Regional Director of NADMO, Vacus Dogbe, NADMO Regional Operations Officer, and Kumawu Sylvester, Assembly Member for Amutinu/Salakope, who have been coordinating disaster response efforts in the affected areas.

Expressing solidarity with the affected families, Kwamigah-Atokple in a Facebook post, emphasised the importance of community and compassion in times of crisis.

“This is my small way of supporting families who have lost homes and belongings. Together, we will rebuild, recover, and rise again,” he stated.

He commended NADMO and the Assembly Member for their dedication to ensuring the relief items reach those in need.

An Accra High Court Tuesday adjourned the case involving Christopher Ameyaw-Ekumfi, the former Board Chairman of the Ghana Infrastructure Investment Fund, and one other to Monday May 26, 2025.

The adjournment was due to the absence of the former Board Chairman in court over ill health, whose plea needed to be taken.

When the case was called on Tuesday, May 20, Mr Duke Aaron Sasu, Counsel for Ameyaw-Ekumfi, told the court that his client was rushed to the University of Ghana Medical Centre at dawn, hence his inability to appear in court.

At the last sitting, the court was informed that the accused person had undergone surgery.

Meanwhile, information gathered indicates that Solomon Asamoah, the former Chief Executive Officer of the Fund, standing trial with Ameyaw-Ekumfi, could not meet his bail terms.

He was granted a GH¢15 million bail with two sureties, all to be justified with a registered land or property located in the Greater Accra Region.

The sureties were to deposit copies of their Ghana cards and digital addresses at the Registry of the Court.

He is to deposit his two passports (Ghana & United Kingdom) at the Registry and report to the Police every Monday, Wednesday, and Friday till the determination of the case.

The two have been charged for willfully causing financial loss to the State, intentional dissipation of public funds, and conspiracy to commit crime.

The charges were filed under Section 23(1) and Section 179A(3)(a) of the Criminal Offences Act, 1960 (Act 29), relating to a $2-million-dollar payment made in 2019 to the Bank Account of the Africa Investor Holdings Limited in Mauritius.

The amount was for the feasibility studies for the development of an urban sky train system in Accra, a project that was never started.

The State said the payment was made in February 2019 without the necessary board approval for either the share acquisition or the disbursement of the funds.

It said investigations had revealed that the decision to release the funds was made without due process.

Ameyaw-Akumfi reportedly told investigators during his caution statement that he authorised the transfer based on a recommendation from the former Chief Executive Officer.

However, the accused persons have not been able to account for the missing two million dollars.

The Accra SkyTrain project was a proposed elevated light rail system aimed at reducing traffic congestion and air pollution in Accra, Ghana’s capital.

In 2018 the Government signed a Memorandum of Understanding with AiSky Train Consortium of South Africa.

Following the completion of a feasibility study, in November 2019 the parties signed a build–operate–transfer concession agreement.

The company was to develop the system at an estimated cost of $2.6 billion with capacity of 10,000 passengers/hour/direction.

It had a scope of 194 km, 5 lines (4 radial, 1 loop) with Aeromovel (fully automated, elevated) but it had some significant hurdles, though specific details are not provided.

Source: GNA

President John Dramani Mahama had extended a hand of invitation to European investors to take advantage of Ghana’s improving economy to venture into the country for mutual benefit.

He said there were investment opportu­nities in agro industrial zones, renewable energy and green finance, pharmaceutical in­dustry, digital infrastructure and innovation, transport and connectivity amongst others.

President Mahama who stated this in Accra yesterday during the Ghana-Europe­an Union (EU) Business Forum, said since taking the reins of power in January this year, the economic indices of the country had improved with better projections into the future.

The programme organised by the Eu­ropean Union (EU) and the Government of Ghana was under the theme “Fostering investment in high growth potential value chains under the EU Global Gateway Strat­egy.”

As part of the programme, the EU signed several support packages to the country and some private organisations totalling more than four billion euros.

President Mahama said “Under my lead­ership, Ghana is embarking on a new era of industrial diversification, youth employment, and green transformation and the role of investors and strategic partnerships will be indispensable.”

Ghana, the President noted, was emerg­ing from a period of fiscal distress, high inflation, and declining investor confidence amongst other negative indicators.

According to him, the tide of economic turbulence was turning around with a steep adjustment in the primary balance from negative 3.9 of GDP by end of year 2024 to a projected positive 1.5 of Gross Domestic Product by end of this year.

“These bold and targeted interventions are beginning to witness early signs of eco­nomic recovery and renewed momentum,” he emphasized.

The updated real composite index of economic activity, he disclosed recorded an annual growth of 2.3 per cent for the first quarter of 2025 compared to 1.0 per cent for the same period last year.

With inflation easing to 21.2 from 23.8 at the end of 2024, a single digit inflation pro­jected by middle of 2026, appreciating cedi, gross international reserve improving from $8.9 billion to $10.6 billion amongst other positive economic indicators, though early in the year, President Mahama said the future looks even brighter.

“My government’s vision is to build a resilient and dynamic economy that creates jobs, adds value to our natural resources and empowers small and medium enterprises to scale up globally.

“I assure all potential partners that under this administration, Ghana is committed to transparent governance, policy predictability, and a reformed business environment,” he stressed.

The Deputy Director-General of Inter­national Partnerships of the EU, Myriam Ferran, said the forum aimed to identify new business and trade opportunities, facilitating partnerships, and enhancing investment through risk guarantee schemes like the Eu­ropean Fund for Sustainable Development Goals.

She noted that EU investments in Ghana had doubled since 2016, reaching €4 billion in 2023 and said there was further opportu­nities to increase trade between Ghana and EU.

Ms Ferran said EU was supporting a lot of projects to accelerate the socio-economic development of Ghana and said the projects were in the areas of feeder roads, irrigation systems, agriculture, energy and health, adding that discussions were underway to support Ghana with 135 million euros to support energy infrastructure to improve electricity supply in Northern Ghana and rural communities.

The Minister of Trade, Industry and Agri­business, Mrs Elizabeth Ofosu-Adjare, said the government was committed to creating a transparent and conducive business environ­ment that fostered investment and economic transformation.

She said Ghana and EU had enjoyed long standing relationship, adding that Ghana and EU cooperation should move beyond raw commodities to value-added production and technology transfer.

Mrs Ofosu-Adjare said Ghana was also seeking EU collaboration to build a strong pharmaceutical industry, aiming to become a manufacturing hub for vaccines and essential medicines in West Africa.

The EU Ambassador to Ghana, Irchard Razaaly, said EU and Ghana shared a com­mon development mission, saying that the EU was committed to the development of Ghana, and would support the government to address the growing unemployment chal­lenge facing the country.

 BY KINGSLEY ASARE AND JULIUS YAO PETETSI