By Simon Asare

Accra, Feb. 19, GNA – Mr. Kurt Edwin Simeon-Okraku, President of the Ghana Football Association (GFA), is optimistic about a positive change in local football after the adoption of enhanced Matchday Safety and Security Protocols.

According to the GFA President, the incident that led to the death of a football fan in Nsoatre was unfortunate and regrettable, which triggered the need to enhance matchday protocols.

Speaking to Match Commissioners at the GFA Secretariat in Accra, Mr. Okraku noted that their truthfulness and honesty in the discharge of their duties would prove crucial in improving the game.

“We’ll be very, very fair in assessing your work. Be honest. Those who fall below the line, unfortunately will leave us. When you hear the discourse in the public space, you would admit that all is not well. And if it is that we could cure what is seen not to be well, this is the most opportune time.

“The clarion call from Ghanaians is that something has to change, and we have to react positively to it as a family. Hopefully, the Premier League will come back soon but this is part of the process of bringing back our beloved GPL.

“When we come back, we have to ensure that the change that our consumers are calling for will be supported by the family that has gathered here,” President Okraku said.

He also assured Match Commissioners of maximum protection in the dispensation of their duties while continuous efforts are made to educate the diverse patrons of our game.

“We occupy a special place in our sports. We play a very important role in the management of our game. The incidents that happened in Nsoatre has become a catalyst for us to re-look at how football has been delivered by all of us.

“I honestly believe that we have the power to right the wrongs in football, “Again, like I said the last time I met you, I have absolute trust in the group that we have here. I know that we can deliver football in the way it has to be delivered,” said Mr Okraku.

The GFA President urged Match Commissioners to take an active role in enforcing the safety protocols and ensuring that any potential security threats are found and addressed before, during, and after matches.

He directed them to collaborate closely with local security agencies to maintain order.

GNA

Unemployment in Ghana presents a significant challenge with the Ghana Statistical Service reporting an unemployment rate of 4.5% in the third quarter of 2023 and the average unemployment rate for the first three quarters of 2023 at 14.7%.

The Green Business Competitions for Micro Small and Medium Sized Enterprises (MSMEs), collaborative initiative by the German Development Corporation and the Ashesi University’s Ghana Climate Innovation Centre (GCIC), is tackling this crisis head-on.

Through its first cohort, the program has successfully incubated 29 MSMEs across five regions, leading to the generation of GHS 4,353,642 in revenue, an additional GHS 2,937,640 raised in investment and funding creation of 104 new jobs in six months more than the target of 100 jobs in a year.

This programme supports and scales up Micro, Small, and Medium-sized Enterprises (MSMEs) operating within Ghana’s green economy focusing on businesses that are or seeking to adopt sustainable and climate-adaptive business models, aligning with Ghana’s Nationally Determined Contributions (NDCs), to mitigate climate change.

Participating MSMEs receive comprehensive advisory services, technical assistance, and financial support to enhance their operations and fortify their climate adaptation practices, create green jobs and encourage sustainable business practices that benefit both the environment and the economy.

Speaking at the graduation ceremony, Dr Christian Jan, Head of Programme, Support to the Private and Financial Sector (PFS) Programme at GIZ stated that “The German Development Cooperation through GIZ’s mission is to support sustainable development in Ghana and our efforts are aligned with priorities and international commitments to ensure businesses get access to the right networks, financing and support to thrive.”

He further challenged the businesses, “Aim high, be resilient and push boundaries. Ghana needs innovators and not just business owners.”

The programme also welcomed it’s second cohort of thirty-one MSMEs selected from five sectors including climate-smart agriculture, waste management, water management, energy efficiency and greening businesses.

Ruka Sanusi, the Executive Director of the Ghana Climate Innovation Centre, welcomed the new businesses. She emphasized, “This accelerator will push you to think bigger, see beyond the familiar and question your long-held assumptions to do business.” She reminded the businesses “While funding is important, the real value of this incubator lies in the new knowledge to be gained, the networks that will be built and the insights that could propel you into opportunities far beyond what you have imagined.”

Highlighting the impact of the programme on his business, Kojo Mensah Adom, Cohort 1 member and CEO of Grow It Green, shared that GCIC’s grant funding empowered them to invest in processing equipment and renewable energy solutions, driving sustainable growth.

He said, “GCIC’s grant funding enabled us to invest in processing equipment and renewable energy options, scaling our operations sustainably.”

He added “Masterclasses on climate change, investment readiness, and financial management, ESG and Taxation provided a solid foundation. These lessons were crucial in closing our first private equity raise and making our business attractive to investors.”

Mr Mensah Adom thanked GCIC and GIZ for the support through the programme.

Funded by the German Development Cooperation through GIZ and implemented by the GCIC, the Green Business Competition for MSMEs, promises to play a vital role in building a more resilient and prosperous future for Ghana, driven by a thriving green economy.

Dr. Felix Larry ESSILFIE

Ghana’s economic recovery remains fragile, with significant challenges in debt sustainability, fiscal consolidation, and external financing.

The recent caution by the World Bank against an early return to international capital markets underscores the complex interplay of macroeconomic risks and policy imperatives that the government must carefully navigate.

Given Ghana’s history of heavy reliance on external borrowing, a premature re-entry into the capital markets could exacerbate existing vulnerabilities, undermining the progress made under the ongoing IMF-supported program. The urgency of fiscal discipline, debt management, and revenue mobilization cannot be overstated, as the country stands at a critical juncture where policy missteps could lead to severe economic consequences.

Ghana’s economic landscape has been marked by persistent macroeconomic vulnerabilities over the eight years. A combination of high fiscal deficits, a rapidly rising public debt burden, and external imbalances has pushed the economy into distress, necessitating multilateral intervention.

By 2022, Ghana’s public debt-to-GDP ratio had exceeded 90%, an unsustainable level that eroded investor confidence and triggered a severe liquidity crisis. The decision to seek a $3 billion bailout from the International Monetary Fund (IMF) was a direct response to these mounting pressures, providing a structured framework to restore macroeconomic stability through fiscal consolidation, debt restructuring, and structural reforms.

A fundamental component of the IMF-supported program is the commitment to prudent fiscal management. This includes expenditure rationalization, enhanced revenue mobilization, and reducing reliance on commercial borrowing. The domestic debt exchange program and ongoing negotiations with external creditors, including Eurobond holders and bilateral lenders, are intended to restructure Ghana’s unsustainable debt portfolio. However, these efforts remain incomplete, and any deviation from the IMF program’s fiscal targets could derail the broader stabilization agenda.

Returning to capital markets prematurely presents considerable risks that could undermine Ghana’s recovery trajectory. One of the most immediate concerns is the high interest rate premium that Ghana would face in the current global financial environment. Sovereign credit ratings for the country remain highly speculative, with agencies such as Moody’s and S&P assigning ratings in the CCC/Caa range.

This places Ghana in a category where investors demand significantly higher risk premiums to compensate for potential default risks. In practical terms, any new Eurobond issuance would likely attract interest rates well above 10–12%, significantly higher than the pre-crisis levels of 7–8%. Given the already elevated debt servicing burden, taking on new, expensive debt would further strain the fiscal position, reducing the government’s ability to finance critical expenditures and undermining the IMF’s fiscal consolidation efforts.

Moreover, investor confidence remains weak, with lingering concerns about Ghana’s ability to meet its debt obligations post-restructuring. The debt restructuring process, while necessary, has created an environment of uncertainty that discourages long-term capital inflows.

The international investment community remains cautious, and any attempt to issue new bonds before completing the restructuring process could lead to under-subscription or distressed pricing, further complicating Ghana’s financing strategy. The risks associated with debt service pressures are particularly pronounced in an environment where external debt obligations already consume a substantial share of government revenue.

Taking on additional commercial debt at higher interest rates could exacerbate liquidity risks, making it difficult for the government to meet fiscal targets without resorting to further austerity measures or currency depreciation.

An early return to capital markets could also have significant exchange rate implications. Ghana’s foreign exchange market has experienced volatility, with depreciation pressures stemming from both structural factors and external shocks.

A premature bond issuance would necessitate additional foreign currency inflows to service external debt, which could increase demand for foreign exchange and lead to renewed depreciation of the cedi. This, in turn, would fuel imported inflation, eroding the real purchasing power of households and businesses. Such a scenario would counteract the inflation-targeting measures implemented by the Bank of Ghana, complicating monetary policy management.

While there are potential benefits to market re-entry, these advantages are largely conditional on a more favorable macroeconomic environment. A successful bond issuance could provide short-term liquidity relief, easing fiscal constraints and financing critical development projects.

Additionally, if timed correctly, it could serve as a signal to investors that Ghana’s economic reforms are yielding results, thereby improving market confidence. However, these benefits are only realizable if Ghana strengthens its fiscal position, stabilizes macroeconomic indicators, and restores credibility in its debt management framework. As of now, these conditions have not been fully met, making the risks associated with premature borrowing outweigh any potential benefits.

The broader fiscal policy landscape further underscores the importance of a cautious approach. Ghana’s fiscal consolidation efforts under the IMF program are centered on enhancing domestic revenue mobilization and rationalizing expenditure. The country’s tax-to-GDP ratio remains below 14%, significantly lower than the regional average of 18–20%, reflecting systemic inefficiencies in tax collection and compliance.

Addressing these gaps through broad-based tax reforms, including tax base expansion and digital tax administration, is critical for reducing reliance on external borrowing. Similarly, expenditure rationalization measures, such as improved state-owned enterprise (SOE) financial management and subsidy restructuring, must be pursued to create fiscal space for priority investments. Without these reforms, any new external borrowing would only perpetuate the cycle of fiscal distress.

The World Bank’s caution aligns with empirical evidence from countries that have navigated similar economic recovery paths under IMF supervision. Argentina’s experience from 2017 to 2019 provides a stark warning. After securing an IMF bailout, Argentina rushed back to international markets, issuing high-yield bonds that ultimately led to a severe currency crisis and a second IMF intervention.

Zambia’s recent debt crisis also highlights the dangers of premature market re-entry. After defaulting on its Eurobonds, Zambia struggled to regain investor confidence, and attempts to issue new bonds at unfavorable terms only deepened its economic woes. These cases reinforce the importance of sequencing debt restructuring and market re-entry to avoid exacerbating macroeconomic vulnerabilities.

While the World Bank’s warning is well-founded, there is room for strategic re-engagement with capital markets under more favorable conditions. Ghana must first strengthen its fiscal and debt management policies to build a credible foundation for future borrowing.

Enhancing domestic revenue mobilization through progressive tax reforms and reducing tax exemptions should be a top priority. Rationalizing expenditure by streamlining subsidies and improving SOE efficiency is equally critical. A well-structured debt refinancing strategy that prioritizes concessional financing over commercial debt will help reduce debt servicing costs and mitigate liquidity risks.

Timing market re-entry wisely is also crucial. Government must demonstrate tangible progress in meeting IMF fiscal targets, stabilizing inflation, and building external reserves before considering a Eurobond issuance. Engaging with credit rating agencies to improve the country’s sovereign rating will be essential in securing more favorable borrowing terms. Alternative financing mechanisms, such as public-private partnerships, diaspora bonds, and green bonds, should be explored to diversify funding sources and reduce dependence on volatile capital markets.

Restoring investor confidence will require transparent policymaking, clear communication on debt restructuring progress, and a disciplined fiscal framework. Strengthening foreign exchange reserves will provide a buffer against currency volatility, ensuring that any future market re-entry does not lead to undue pressure on the cedi.

The World Bank’s warning against premature market re-entry is a prudent advisory that Ghana must heed. The country’s macroeconomic fundamentals remain fragile, and a premature return to capital markets would likely result in high borrowing costs, increased debt vulnerabilities, and potential credibility risks. Ghana’s path to sustainable economic recovery lies in prudent fiscal management, structural reforms, and a well-calibrated debt strategy that prioritizes long-term resilience over short-term liquidity relief.

By exercising patience and adhering to a disciplined fiscal framework, Ghana can restore debt sustainability, rebuild investor confidence, and re-enter capital markets under more favorable conditions that support sustained economic growth.

The writer is a Development Economist and Executive Director, IDER

Email: [email protected]

Businessman, Alhaji Seidu Agongo

Businessman, Alhaji Seidu Agongo, has revealed that US$70 million worth of lithovit liquid fertiliser, which he supplied to COCOBOD as a fourth delivery, was rejected and left to rot in a warehouse due to a change in government.

Speaking in an interview with UTV’s Agya Kwabena, Mr. Agongo recounted how COCOBOD had accepted and paid for the first three deliveries of the same fertiliser but refused to take the fourth consignment despite its proven effectiveness.

“I supplied lithovit liquid fertiliser to COCOBOD four times. They paid for the first three deliveries but rejected the fourth, leaving it to rot in the warehouse. The total value amounts to nearly US$70 million. I feel deeply pained whenever I think about it,” he said.

His legal troubles began soon after the change in government, as he became the subject of an eight-year-long court case.

The main complainant, Dr. Adu-Ampomah, alleged that the fertiliser was ineffective and claimed farmers were even drinking it as water.

However, Mr. Agongo insists these accusations were baseless and politically motivated.

“They conducted their own field investigations, and farmers confirmed that lithovit fertiliser was effective. They even used taxpayers’ money to travel to Germany to verify the efficacy of the agrochemical from my partner, yet they concealed that exculpatory evidence from the court,” he stated.

His trial, which spanned nearly a decade, was eventually withdrawn by new Attorney General Dominic Ayine.

Mr. Agongo expressed disappointment over the treatment of Ghanaian businesses, arguing that local entrepreneurs are often sidelined in favour of foreign firms.

“It is sad that when it comes to business, Ghanaians are discriminated against in favour of foreigners,” he lamented.

The businessman’s ordeal raises concerns about political interference in business contracts and its potential impact on investor confidence in Ghana’s economy.

Watch the latest edition of BizTech below:

Click here to follow the GhanaWeb Business WhatsApp channel

The Amasaman Circuit Court has sentenced a mason to three years imprisonment in hard labour for causing irreparable damage to a Donfeng Ex-Box car, valued at US$35,900, belonging to Hisense Company Limited.

Senyo Awuku, 32, admitted causing unlawful damage to the vehicle and was sentenced accordingly.

However, he denied entering unlawfully into the house of Mr Gad Ebenezer Afranie Kisi, the complainant, to steal the vehicle, as well as an HP laptop computer, valued at GH₵4,300.00, and cash amount of GH₵4,000.00.

He was ordered by the court, presided over by Ms Enid Marful-Sau, to be brought back on March 13, 2025, to face the other two charges: unlawful entry and stealing.

Police Chief Inspector Salifu Nashiru, briefing the court, said the complainant, who works at the Customer Service of Hisence Company Ltd, lived at Danchira Ocloo Farms, whereas Awuku was a mason living at Hobor, a suburb of Accra.

He said on January 30, 2025, the complainant returned home from work and parked his official car, a Donfeng Ex-Box car with registration number GT 4955-24 in his house.

Chief Inspector Salifu said the complainant also put his laptop, the GHC4,000.00 and the car key on top of his table in his room and slept.

The next day, at about 0500 hours, the complainant woke up to realise that the items mentioned had been stolen and reported the case to the Danchira Police.

He later put the said car’s pictures on social media informing the public that his car had been stolen.

In the afternoon of February 1, 2025, the complainant received a phone call from a friend that he had seen the car around Amasaman- Three Junction.

Upon receipt of the information, the complainant proceeded to the place and Awuku, then in charge of the vehicle, sped off upon seeing the complainant.

Prosecution said Awuku was given a hot chase, and he drove the car into a container at Ademan, damaging it.

He came out of the vehicle and took to his heels and with the help of onlookers around, he was arrested and handed over to the Danchira police.

After investigation, the convict was charged and put before court.

Awuku in pleading for mitigation asked for forgiveness and said he regretted his action.

Prosecution prayed the court to consider the fact that the vehicle had been damaged beyond repairs.

In passing judgement, the court considered both the mitigation factor, and the extent of damage caused to the car.

It ordered the release of the stolen items: vehicle and laptop computer.

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 Solomon Gumah

Tamale, Feb 19, GNA – Representatives of the Savannah Women Farmers Association in the Northern Region have participated in a day’s forum to expose them to some business opportunities in the agribusiness sector to leverage on them to improve their livelihoods.

As part of the forum held in Tamale, resource persons from Government agencies, financial institutions and buyers, took participants through ways to access funding and other opportunities at the various institutions to enhance the operations of their businesses.

The forum was organized by the Association and formed part of the implementation of the Restoration Project, under the Ghana Federation of Forest and Farm Producers (GhaFFaP) with funding support from the Food and Agriculture Organization.

Participants for the forum were selected leaders of the association, drawn from 23 communities in the five operational districts of the association, namely Savelugu, Kumbungu, Nanton, Mion and Tolon.

Mr Oseni Kabiru, Programme Coordinator of the Savannah Women Farmers Association, during the forum, said it was intended to enhance the understanding of members of the association on the procedures and processes required to access services at various departments and agencies in the region.

He indicated that it was a further platform for stakeholders at the institutions to educate members on some of the available opportunities that the association members could take advantage of to enhance their operations.

Mr Matthew Angbanyere, Nanton District Director of Agriculture, Ministry of Food and Agriculture (MOFA ), underscored need for the women to prioritise formation of registered groups and associations to enable them access support from MOFA and other NGOs.

He explained that the formation of such groups would also enable the few Technical Officers in the districts to effectively disseminate information on available technologies and services to enhance their activities.

Mr Angbanyere said, “Unfortunately most of the communities do not see the importance of the associations, until there is an opportunity for them to benefit. At that stage it makes it difficult for us to support them, because we prioritise supporting groups than individuals.”

Madam Mumuni Wedad, MOFA Officer in charge of Women in Agriculture Development in the Savelugu Municipality, urged women not to shy away from programmes and other agribusiness related initiatives in their communities to ensure sustainable development.

Madam Bridgette Sheini, Head, Kumbungu District Business Advisory Centre of the Ghana Enterprises Agency, encouraged participants to take advantage of the business counselling and the digitisation skills training initiatives at the district to enhance their operations.

GNA

By Solomon Gumah

Tamale, Feb 19, GNA – Representatives of the Savannah Women Farmers Association in the Northern Region have participated in a day’s forum to expose them to some business opportunities in the agribusiness sector to leverage on them to improve their livelihoods.

As part of the forum held in Tamale, resource persons from Government agencies, financial institutions and buyers, took participants through ways to access funding and other opportunities at the various institutions to enhance the operations of their businesses.

The forum was organized by the Association and formed part of the implementation of the Restoration Project, under the Ghana Federation of Forest and Farm Producers (GhaFFaP) with funding support from the Food and Agriculture Organization.

Participants for the forum were selected leaders of the association, drawn from 23 communities in the five operational districts of the association, namely Savelugu, Kumbungu, Nanton, Mion and Tolon.

Mr Oseni Kabiru, Programme Coordinator of the Savannah Women Farmers Association, during the forum, said it was intended to enhance the understanding of members of the association on the procedures and processes required to access services at various departments and agencies in the region.

He indicated that it was a further platform for stakeholders at the institutions to educate members on some of the available opportunities that the association members could take advantage of to enhance their operations.

Mr Matthew Angbanyere, Nanton District Director of Agriculture, Ministry of Food and Agriculture (MOFA ), underscored need for the women to prioritise formation of registered groups and associations to enable them access support from MOFA and other NGOs.

He explained that the formation of such groups would also enable the few Technical Officers in the districts to effectively disseminate information on available technologies and services to enhance their activities.

Mr Angbanyere said, “Unfortunately most of the communities do not see the importance of the associations, until there is an opportunity for them to benefit. At that stage it makes it difficult for us to support them, because we prioritise supporting groups than individuals.”

Madam Mumuni Wedad, MOFA Officer in charge of Women in Agriculture Development in the Savelugu Municipality, urged women not to shy away from programmes and other agribusiness related initiatives in their communities to ensure sustainable development.

Madam Bridgette Sheini, Head, Kumbungu District Business Advisory Centre of the Ghana Enterprises Agency, encouraged participants to take advantage of the business counselling and the digitisation skills training initiatives at the district to enhance their operations.

GNA

Oak FC, the women’s team of Accra Hearts of Oak, are having an excellent run in the 2024/2025 GARFA Women’s Division One League.

After playing eleven matches, the team have recorded 10 wins, lost once, and drawn none as they look forward to maintaining momentum in the league.

Oak FC lead Zone A of the GARFA Women’s Division One League table with a commanding 30-point lead, cementing their status at the top of the table.

The team have scored an impressive seventy-four goals and conceded nine after eleven matches, depicting their defensive solidity and explosive, ruthless attack.

With ten teams in each zone, Oak FC are on course to secure qualification to the Women’s Premier League if they retain their performance to the end, as they have some matches left to play.

Some football fans have commended the team’s brilliant performance and hope they gain qualification to play in the main league.

Meanwhile, catch up on the latest Sports Check with weightlifter Marie Agbah-Hughes on GhanaWeb TV below:

SB/EK

Member of Parliament of Akwatia, Ernest Yaw Kumi

A Koforidua High Court has issued a bench warrant for the arrest of Ernest Yaw Kumi, the Member of Parliament (MP) of Akwatia in the Eastern Region, after convicting him of contempt of court.

According to multiple reports, the bench warrant was issued after Kumi failed to appear in court.

The MP had disobeyed an interim injunction issued against him on January 7, 2025, which barred him from being sworn in and admitted as the Member of Parliament-elect for the Akwatia constituency due to an ongoing legal battle over his election.

However, despite the court order, Kumi presented himself in Parliament and was sworn in on January 7, 2025.

Presiding Judge Justice Senyo Amedahe ruled that the convict had consistently failed to appear in court throughout the hearing of the contempt case.

He also dismissed a letter from the Minority caucus, which claimed that the MP was occupied with parliamentary duties and, therefore, could not attend court sessions.

The judge rejected the letter, stating that accepting it would contradict his own ruling.

JKB/MA

Meanwhile, you can also watch the latest compilation of Twi news below:

GhanaWeb Feature by Amos Manteaw

Barely two months into office as the 6th President of the 4th Republic of Ghana, President John Dramani Mahama has been commended by a section of the public for certain initiatives and implementations.

The President, who staged a comeback in the 2024 election after previously serving as President, appears to have gained significant experience for his second tenure in office.

Sworn in on January 7, 2025, some of his policies and implementations have been widely praised by the public.

Several individuals and organizations, including known government critics, have lauded these initiatives.

Among those who have praised Mahama for his policies are Franklin Cudjoe, President of IMANI Africa; Senyo Hosi, businessman and economic policy analyst; and journalist Nana Aba Anamoah, and scores of social media users most especially X.

Organizations such as Elections Watch Ghana, and the political group Movement for Change have also expressed support for his administration’s decisions within the first few months of office.

GhanaWeb highlights five key initiatives of President Mahama that have received massive acclaim:

1. Reduction of Ministerial Positions

President John Dramani Mahama has, by Executive Instrument, reduced the number of ministries from 30 to 23.

This moves forms part of an administrative restructuring initiative aimed at enhancing efficiency and streamlining government operations.

The restructuring was formalized through the Civil Service (Ministries) Instrument, 2025 (E.I. 1), signed by President Mahama on January 9, 2025.

The Executive Instrument outlines the newly established ministries and revokes the previous arrangement under the Civil Service (Ministries) Instrument, 2021 (E.I. 12).

Some key changes include the establishment of the Ministry of Energy and Green Transition, the Ministry of Communication, Digital Technology, and Innovations, and the Ministry of Trade, Agribusiness, and Industry, among others.

2. Ban on first-class official travels

President Mahama has announced a ban on first-class travel for government appointees, emphasizing that his administration will be marked by modesty and respect for the people of Ghana.

He made this known at the swearing-in ceremony of ministers at the Jubilee House on Friday, February 7, 2025.

The President stressed that public officials must be mindful of how they use state resources.

He also stated that he had directed the Chief of Staff, Julius Debrah, to officially inform ministers and government appointees of an immediate restriction on non-essential travel.

3. Public declaration of assets and accountability for appointees

President Mahama has warned that he will take drastic measures against any appointee who fails to declare their assets by the deadline he has set.

Addressing the press on Tuesday, February 18, 2025, after declaring his own assets, President Mahama stated that he had instructed the Chief of Staff to notify all appointees to declare their assets by March 31, 2025.

“I’ve asked the Chief of Staff to ensure that all appointees declare their assets by the end of the first quarter of this year, that is, by March 31, 2025. Any appointee failing to meet this deadline will face severe sanctions, including removal from office,” he stated.

Reaffirming his commitment to fighting corruption and promoting transparency, Mahama explained that his decision to publicly declare his assets was intended to enforce openness and prevent corruption.

4. Payment of bondholders

The Ministry of Finance, on Monday, February 17, 2025, successfully honoured the Payment-In-Cash (VIC) coupon of GH₵6.081 billion to all bondholders under the Domestic Debt Exchange Programme (DDEP).

This action aligns with a directive issued by President Mahama, reaffirming the government’s commitment to fulfilling its financial obligations.

Additionally, the government has settled the Pay-In-Kind (PIK) portion of GH¢3.46 billion, which has been deposited into the respective bondholders’ securities accounts in accordance with the terms outlined in the DDEP Memorandum.

To strengthen debt management and enhance investor confidence, the government has allocated GH¢9.7 billion into the Debt Service Recovery Cedi Account (Sinking Fund).

This buffer is intended to support the upcoming 5th DDEP coupon payments scheduled for July and August 2025.

5. Reduction of Hajj fare

Hajj travel is a significant aspect of the Muslim faith, and President Mahama’s decision to reduce the fare has been met with widespread praise.

The government has reduced the cost of Hajj from GH¢75,000 to GH¢62,000 per person.

AM/KA

Watch the latest edition of BizTech below:

Click here to follow the GhanaWeb Business WhatsApp channel

Ghana Ambassador to Morocco, Her Excellency Charity Gbedawo, extended a warm welcome to the Black Queens at the Ibis Hotel in Casablanca ahead of their friendly against the Atlas Lionesses.

Accompanied by staff members from the Ghanaian embassy, Mrs Gbedawo, congratulated the team on qualifying for the Women’s African Cup of Nations (WAFCON) and assured the players of government support for the tournament.

“I am very impressed with your performance so far,” she said.

“Although you are here for a friendly game against the host, I believe you have the potential to return in July and perform even better.”

“The embassy will ensure that the Ghanaian community here supports you at the stadium on Friday and beyond. Play your hearts out, and I wish you all the best,” she added.

Black Queens captain Portia Boakye thanked the entourage and assured them that the team is eager to perform and win regardless of the value of the match.

The Queens are currently on a training tour in Morocco, where they will play preparatory games against the Atlas Lioness and AS FAR Rabat.

These matches will serve as an opportunity for the newly appointed coach Kim Lars Bjorkegren to assess his squad.

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.