play videoDr. Johnson Asiama, Bank of Ghana Governor

President John Dramani Mahama has officially sworn-in Dr. Johnson Pandit Asiama as the new Governor of the Bank of Ghana (BoG) in a ceremony held at the Jubilee House.

Dr. Asiama’s appointment comes at a critical time for Ghana’s economy, with ongoing efforts to stabilize inflation, manage foreign exchange volatility, and implement monetary policies aimed at ensuring sustainable economic growth.

As Governor, Dr. Asiama will be responsible for steering Ghana’s central bank towards achieving price stability, strengthening financial sector resilience, and fostering economic development in line with the government’s broader fiscal policies.

In addition, Dr. Zakari Mumuni has been sworn in as the First Deputy Governor of the Bank of Ghana. He will support Dr. Asiama in formulating and executing monetary policies, overseeing financial regulations, and ensuring the soundness of the banking sector.

With extensive backgrounds in macroeconomics, banking regulation, and financial management, both Dr. Asiama and Dr. Mumuni are expected to play pivotal roles in enhancing investor confidence, stabilizing the local currency, and promoting a robust banking environment.

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Ghana and West Ham United midfielder Mohamed Kudus has set his sights on attaining greater heights in the world of football.

The 24-year-old announced his presence in the English Premier League with a huge statement in his debut season with the Hammers racking up impressive numbers with 14 goals to his name.

The Black Stars midfielder also came out as the player with the most successful dribbles in the 2023/24 season with 95 beating Manchester City’s Jeremy Doku (81).

Speaking to Rising Ballers, the West Ham man says he acknowledges the progress he has made in his career so far but is still determined for more.

“I try to get the balance of not looking at that (where I come from) and feeling satisfied and thinking like I’ve made it now because I still believe that I still have a lot under my belt to come,” he said.

“For me, I’m just trying to find the balance like I said knowing how far I’ve come and being grateful to God and all the people around me who supported for that to happen also knowing that there’s still a lot more to do.”

Kudus, who has enjoyed a tough season in front of goal this season both in the club and national colours, will be looking to capitalise on his good performance against Arsenal last weekend in subsequent games.

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Fenerbahçe coach, Jose Mourinho

Turkish club Galatasaray has announced their intentions to ‘initiate criminal proceedings’ against Portuguese coach Jose Mourinho over what they claim to be racist statements he made during their 0-0 game on Monday, February 24, 2025.

In a post-match conference, Jose Mourinho aimed a dig at the Galatasaray players and coaches, stating that the bench of Galatasaray were ‘jumping like monkeys’ during the game.

Mourinho also reserved some harsh words for the referee whom he described as a ‘disaster’.

“I have to thank the referee. After the big dive in the first minute and their bench jumping like monkeys on top of the kid… with a Turkish referee, you would have a yellow card after one minute and after five minutes I would have to change him.”

He added: “I went to the referee’s dressing room after the game, of course, the fourth official was there, a Turkish referee. I told him ‘thank you for coming here, you came for a big match’ and I turned myself to the fourth official and I said ‘If you were a referee this match would be a disaster’.”

Galatasaray, in response, said they would not only initiate legal action against Jose Mourinho, but they would also file “official complaints” to football’s governing bodies.

In a statement, Galatasaray said: “Since the commencement of his managerial duties in Turkey, Fenerbahce manager Jose Mourinho has persistently issued derogatory statements directed towards the Turkish people. Today, his discourse has escalated beyond merely immoral comments into unequivocally inhumane rhetoric.

“We hereby formally declare our intention to initiate criminal proceedings concerning the racist statements made by Jose Mourinho and shall accordingly submit official complaints to UEFA and FIFA.

“Furthermore, we shall diligently observe the stance adopted by Fenerbahce – an institution professing to uphold ‘exemplary moral values’ – in response to the reprehensible conduct exhibited by their manager.”

Jose Mourinho, who won the UEFA Champions League with Chelsea and FC Porto, was appointed Fenerbahce manager in the 2023/2024 season.

Meanwhile, watch as Ghanaians tell Dede Ayew to retire from Black Stars to protect his legacy

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Governor of the Bank of Ghana, Dr Johnson Asiama

The Ghana Association of Banks (GAB) governing council met with the newly appointed Governor of the Bank of Ghana (BoG) to discuss pressing issues affecting the banking sector.

The meeting opened with congratulatory remarks from GAB members, who emphasized the need for stronger collaboration and open dialogue between banks and the regulator to foster trust and consensus-building on key financial policies.

One of the major concerns raised was the urgent need to amend the current Cash Reserve Ratio (CRR) regime, which banks argued is limiting financial intermediation and increasing the cost of banking.

The Governor assured members that he recognizes the impact of the CRR and intends to review it critically.

However, he noted that any adjustment must be phased to avoid unintended economic consequences. He welcomed industry insights on how to minimize risks associated with liquidity releases, mentioning that even the IMF supports a review.

The discussion also touched on the country’s credit rating challenges and their effect on correspondent banking relationships.

GAB members called for an upward revision of Nostro and affiliate exposure limits to ease constraints on international transactions.

The Governor acknowledged the practical difficulties banks face in securing new correspondent banking relationships and committed to assessing the situation further.

The growing influence of Money Transfer Operators (MTOs) and Fintechs in the remittance business was another critical issue.

Banks highlighted concerns over regulatory gaps that could lead to foreign exchange (FX) losses for the country.

In response, the Governor referenced an ongoing BoG review of MTO operations and urged banks to cooperate in streamlining the sector for greater transparency.

GAB also raised concerns about the upcoming expiration of the special dispensation on restructured Cocoa Bonds under the Domestic Debt Exchange Programme (DDEP) in April 2025.

Banks stressed that continued market illiquidity and COCOBOD’s financial position make it difficult to sell down these bonds. The Governor responded positively, indicating his willingness to extend the dispensation to support affected banks.

The conversation expanded to broader financial sector development, including a push for deeper FX liquidity in the interbank market. Banks called for an end to the mandatory sale of FX proceeds from mining and oil companies to BoG, arguing that allowing these proceeds to flow through the banking system would improve FX price discovery.

The Governor acknowledged the importance of FX market efficiency and indicated a willingness to engage further on the matter.

Agriculture financing was also a key topic, with the Governor seeking banks’ views on the effectiveness of GIRSAL in de-risking agricultural lending. Bank executives responded positively and expressed support for scaling up initiatives to enhance lending to the sector.

The Governor reaffirmed his commitment to doubling agricultural financing and assisting GIRSAL in raising additional guarantee funds.

He called on GAB to lead stakeholder engagements to improve and de-risk select agricultural value chains.

The meeting also explored ways to address rising Non-Performing Loans (NPLs), with the Governor emphasizing the role fiscal policy can play in reducing inflation and interest rates.

Another critical issue raised was the possibility of revising the universal banking licence regime by introducing more flexibility in capital requirements and exploring a tiered banking system, including Islamic banking as part of the review.

On regional trade, the Governor stressed the importance of settling transactions with major African trading partners in local currencies rather than defaulting to the US dollar, which puts pressure on the cedi.

He specifically mentioned Nigeria and South Africa as key trade partners with whom local currency settlements could be explored and encouraged regional banks to facilitate intra-African trade.

The meeting concluded with remarks from bank MDs and the Governor, emphasizing a shared commitment to continuous engagement on these critical issues.

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Ethel Cofie, CEO of EDEL Technology Consulting and a digital transformation advisor.

Ghanaian technology start-ups are in trouble after Amazon Web Services announced that from March 1, 2025, it will impose a 21% tax on cloud services for customers in the West African country.

This tax consists of a 15% value added tax  and an additional 6% in levies, which include the National Health Insurance Levy, the Ghana Education Trust Fund Levy, and the COVID-19 Health Recovery Levy.

Ethel Cofie, CEO of EDEL Technology Consulting and a digital transformation advisor, feels that the introduction of this tax will have a significant impact Ghana’s burgeoning tech startup ecosystem and its overall digital transformation efforts.

Cofie, who serves on a number of boards, including one of West Africa’s largest insurance firms, as well as fintech and logistics start-ups in East and West Africa, believes the move will result in increased operational costs because cloud services are essential to start-ups, providing scalable infrastructure without the need for significant upfront investments.

She explains: “An additional 21% tax on these services will elevate operational expenses, potentially straining the limited budgets of early-stage startups, higher costs may deter startups from adopting essential cloud technologies, hindering innovation and scalability.

“This could place Ghanaian start-ups at a disadvantage compared to regional competitors operating in more cloud-friendly financial environments.”

Furthermore, Cofie says the move could potentially slowdown digital adoption as increased expenses associated with cloud services might discourage businesses from transitioning to digital platforms, potentially slowing the country’s digital growth trajectory.

Nonetheless, she notes that despite these challenges, Ghana’s public cloud market is projected to grow by 19.78% between 2025 and 2029, reaching a market volume of US$630.10 million by 2029.

“Ghana hosts over 55 active tech hubs, fostering a vibrant startup scene that heavily relies on affordable cloud services for development and deployment,” she says.

Cofie advises start-ups to avoid the unfavourable effects of the new tax regime on start-ups by considering the following measures: Government subsidies or tax reliefs; promotion of local cloud providers; and tax reduction negotiations.

She says: “While the taxation of digital services aligns with global trends aiming to capture revenue from the digital economy, it’s crucial to balance this with the need to foster innovation and support emerging businesses.

“Strategic interventions can help mitigate potential negative impacts on Ghana’s tech startups and sustain the momentum of its digital growth.”

 Vivo Energy Ghana, in the spirit of love, kindness, and compassion, has celebrat­ed this year’s Valentine’s Day with women at the Chosen Rehabilita­tion Centre under its Energising Hope Campaign.

The Energising Hope initiative is a cherished tradition where employees come together to share love and support underprivileged communities.

For this year, Vivo Energy Ghana focused on making an impact on the lives of women at the Chosen Rehabilitation Centre through donation, skill empowerment, and heartfelt interactions.

Speaking at the event, the Corpo­rate Communications Manager of Vivo Energy Ghana, Shirley Tony Kum, said, “We chose the Chosen Rehabilitation Centre (Women’s Unit) because we deeply admire the incredible work being done at the centre to support women on their journey to recovery. We recognise the challenges that come with over­coming addiction, and we want you to know that Vivo Energy Ghana is with you on this path.”

Leading this year’s initiative was the Local Payment and Loyalty Manager of Vivo Energy Ghana, Mercy Etrue, who served as the Inspiro for the event, inspiring the women at the centre with her leadership, encouragement, and commit­ment.

Mercy Etrue emphasised the company’s commitment to elevating vul­nerable groups in society. She opined, “At Vivo Energy Ghana, we believe that Val­entine’s Day is not just about celebration but also about making a meaningful impact. Through Energising Hope, we aim to uplift and support those in need, fostering a culture of compassion and sustainability.”

She further gave words of encouragement to inmates and attendees at the event.

The visit featured the donation of essential food items and sanitary supplies, ensuring that the women at the centre have the necessities to support their recovery.

In addition to these donations, a bead craft training session was facilitated to equip the women with practical skills that will aid their self-sufficiency and empowerment.

Moreover, Vivo Energy Ghana also shared branded chocolates, symbolising love, care, and sup­port for the women as they work towards a brighter future.

The management and staff of the Chosen Rehabilitation Centre also expressed their gratitude for the support, noting the positive impact such initiatives have on the lives of the women at the centre.

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Economic policy analyst, Senyo Hosi

Economic policy analyst Senyo Hosi has urged the government to focus on developing Ghana’s human capital, emphasizing that “the most valuable asset any nation has is its people.”

He believes that prioritizing education, vocational training, and entrepreneurial support will ensure sustainable growth and help address pressing economic challenges.

Speaking on TV3’s KeyPoints, Senyo Hosi commended the government for what he described as a constructive approach to negotiations regarding the recent 10% base salary increment for public sector workers.

“I am impressed by how the government has managed this entire process, and I commend labour for the cooperation they have shown,” he said, noting that the shift in tone and governance style has been critical in winning labour’s trust.

“There is a humility in the President’s submissions that we have not seen in a long time,” he added, attributing much of the progress in talks to an administration that appears more measured and reflective of national realities.

While acknowledging these positive developments, Senyo Hosi cautioned against a disconnect between leadership and public expectations.

“You don’t ask people to tighten their belts while you loosen yours,” he remarked, underscoring that policymakers should visibly share in the sacrifices they demand from citizens.

He emphasized that the credibility of reforms hinges on leaders demonstrating commitment and empathy in their economic decisions.

The latest agreement between the government and organized labour, signed last Thursday, raised the base pay for public sector workers by 10%, effective January 2025.

Labour Minister Dr. Rashid Pelpuo announced that, as a result of the new base pay structure, the daily minimum wage has increased to GH¢19.97.

This marks the second salary revision in less than a year, following a 23% increase in 2024 aimed at helping workers cope with the rising cost of living.

The increment is expected to provide some relief to public sector employees as the country continues to navigate ongoing economic pressures.

Beyond increasing the base pay, Senyo Hosi believes that harnessing the potential of Ghana’s workforce through better skill development will foster a culture of innovation.

He has also repeatedly called for disciplined fiscal policies to rein in government spending, reduce public debt obligations, and cultivate a stable economic environment attractive to both local and international investors.

In his view, “Ghana’s fiscal balance must be more than a line item on a budget report,” stressing the need for proactive measures to prevent debt servicing costs from hindering growth.

Highlighting the role of the private sector as a key driver of job creation, Senyo Hosi urged the Mahama-led government to reduce bureaucratic barriers that hinder entrepreneurship.

He advocates for diversifying the economy beyond traditional commodities such as cocoa and gold, arguing that technology-driven agriculture and modern supply chains can better shield Ghana from global price shocks.

Through this multi-faceted strategy strengthening human capital, fostering collaboration between government and labour, and maintaining prudent financial management Senyo Hosi believes Ghana can achieve a resilient and inclusive economic future.