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Mahama Is Not Obligated To Include Members Of The PNC In His Gov’t. It’s Up To Him—Bernard Mornah

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Bernard Mornah, the flagbearer of the People’s National Convention (PNC), has made it clear that President John Dramani Mahama is under no obligation to appoint members of his party to positions in his government, despite the PNC’s support in the 2024 elections.

In a recent interview on Joy News’ PM Express on January 21, 2025, Mornah discussed a variety of political issues, including the possibility of being appointed as an ambassador in a Mahama-led administration. However, he dismissed the notion, citing his lack of diplomatic expertise. “It would be a bad idea. I am not sure I have the diplomatic acumen,” Mornah remarked. He went on to explain that his candid nature and tendency to speak his mind would make such a role unsuitable for him, especially when it comes to sensitive diplomatic matters.

Mornah expressed concern that, if appointed, he would not be able to remain silent on issues he believes to be against Ghana’s or Africa’s best interests, especially regarding regional politics. He specifically referenced his opposition to the ECOWAS roadmap that involves Burkina Faso, Mali, and Niger, where he expressed unease about their exclusion from the regional bloc in favor of Togo’s President Faure Gnassingbé.

While he ruled out any ambassadorial appointment for himself, Mornah also addressed the larger question of government appointments following the 2024 elections. He emphasized that, despite the PNC’s backing of Mahama’s campaign, the president is not obligated to appoint party members to his administration. “It’s up to him to make his appointments based on what he believes is best for the country,” Mornah stated, reinforcing his belief that political partnerships should not be about entitlement.

Jessica Alba hits Super Bowl with daughters amid Cash Warren divorce

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Jessica Alba had a ‘girl’s weekend’ with her teen daughters as they attended Super Bowl LIX between between the Kansas City Chiefs and the Philadelphia Eagles. 

On Sunday, the 43-year-old Honest Company founder enjoyed New Orleans, Louisiana with her daughters Honor, 16, and Haven, 13, taking to Instagram to share highlights of their evening. 

The actress shared a stunning selfie of her and her girls in their hotel room, just hours before kick-off that resulted in a 40-22 win for the Eagles. 

She also shared a snap of her daughter’s looking over the the crowds of people from their hotel balcony in the French Quarter. 

Fans also got a glimpse of the brunette beauty’s view from her seat at the Caesar’s Superdome during the Eagle’s stunning entrance and during Kendrick Lamar’s hit half-time performance. 

Just yesterday, the Fantastic Four actress and her daughters were seen in coordinated little black dresses while strolling through New Orleans — marking her first public sighting since filing for divorce from her estranged husband Cash Warren.

Jessica Alba had a 'girl's weekend' with her teen daughters as they attended Super Bowl LIX between between the Kansas City Chiefs and the Philadelphia Eagles on Sunday
Jessica Alba had a ‘girl’s weekend’ with her teen daughters as they attended Super Bowl LIX between between the Kansas City Chiefs and the Philadelphia Eagles on Sunday

Warren and Alba met on the set of the Fantastic Four in 2004 and got married in May 2008. It remains unclear what brought the longtime couple to the decision to part ways but there have been recent signs of marital woes.

And last month, the Dear Eleanor star was seen without her wedding ring again as she partied it up with fellow A-listers at a pre-Golden Globes bash alongside Derek Blasberg.

Nearly three weeks ago, the vixen confirmed she had split from her husband of fifteen years but sources claimed the couple had already been ‘separated’ for some time.

Alba and the 46-year-old nepo baby of Hill Street Blues alum Michael Warren’s divorce is said to be ‘extremely amicable’ and they both requested joint physical and legal custody of their children, including seven-year-old son Hayes.

The married couple of 16 years did not sign a prenuptial agreement, so Cash hired attorney Adam Lipsic and the Honest Renovations producer-host hired ‘Disso Queen’ Laura Wasser to help divide their substantial assets.

‘I’ve been on a journey of self realization and transformation for years — both as an individual and in partnership with Cash,’ the Trigger Warning producer wrote on January 16.

‘I’m proud of how we’ve grown in our marriage over the last 20 years and it’s now time for us to embark on a new chapter of growth and evolution as individuals,’ she added.

‘We are moving forward with love, kindness, and respect for each other and will forever be family. Our children remain our highest priority and we request privacy at this time.’

She also shared a snap of her daughter's looking over the the crowds of people from their hotel balcony in the French Quarter
She also shared a snap of her daughter’s looking over the the crowds of people from their hotel balcony in the French Quarter

She shared her view of Kendrick Lamar's hit half-time performance
She shared her view of Kendrick Lamar’s hit half-time performance

Fans also got a glimpse of the brunette beauty's view of the Eagle's stunning entrance
Fans also got a glimpse of the brunette beauty’s view of the Eagle’s stunning entrance

Nearly three weeks ago, the vixen confirmed she had split from her husband of fifteen years, Cash Warren
Nearly three weeks ago, the vixen confirmed she had split from her husband of fifteen years, Cash Warren

Warren, a film producer, previously revealed the couple split up over his overwhelming jealousy four years into their relationship.

According to a recently resurfaced E! story, Cash said in August 2023 that he was ‘really jealous’ of ‘other guys’, while on the Whine Down with Jana Kramer podcast.

‘When we first started dating, I was really jealous of other guys and the attention she was getting from other guys,’ he admitted.

‘It just wasn’t making me feel good. I was always a pretty confident person in my own [life], walking my own path and really happy there,’ Cash continued.

‘Next thing you know I’m looking up and feeling jealous all the time.’

Aowin Traditional Council Bans MP Over Alleged Disrespect

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Aowin Bans X
Aowin Bans X

In an unprecedented move, the Aowin Traditional Council has performed rituals to banish their Member of Parliament, Oscar Ofori Larbi, from setting foot on any Aowin land.

The decision, announced by the council led by Nana Opong Payin III, Chief of Omanpe, follows accusations that the MP has repeatedly disrespected the traditional authority by spreading false stories about the paramount chief and other divisional chiefs.

The ritual, which involved the slaughtering of a sheep and the pouring of libation, invoked the gods of the Aowin Traditional Area to deal with Larbi should he defy the ban. The council emphasized that while they recognize Larbi’s election by the people, his continued disrespect left them with no choice but to take this drastic step.

The rift between the MP and the traditional leaders stems from allegations of Larbi’s involvement in illegal mining activities within the Tano Anwia Forest Reserve. The council has accused him of exploiting his political position to undermine their authority and operate with impunity on ancestral lands. Larbi, however, has denied these claims, stating that he has actively worked to combat illegal mining in the area.

Nana Payin II, Tufuhene of Enchi, further elaborated on the council’s grievances, revealing that Larbi had ignored three formal invitations to meet with the chiefs. Additionally, the MP allegedly funded a documentary aimed at tarnishing the reputation of the Aowin Omanhene and other chiefs. “It is beyond Nananom’s comprehension that the Honourable MP, who was first elected on the ticket of the NDC, has repeatedly ignored our invitations and openly expressed gross insubordination,” Nana Payin II stated.

The traditional council has made it clear that their actions are not directed at any political party or the government. They have urged that any government-led development projects in the area be channeled through the Regional Minister or the yet-to-be-named Municipal Chief Executive (MCE).

In response to the ban, Larbi has expressed a willingness to resolve the conflict. Speaking over the phone, the MP acknowledged the importance of collaboration with the traditional council for the development of the constituency. “I believe that effective collaboration between me and the traditional council is crucial for the development of the constituency. To achieve this, I’m willing to meet with the council to lift the ban imposed on me,” he said.

Larbi’s commitment to dialogue and reconciliation highlights his dedication to serving his constituents and fostering development in the region. However, the ban raises broader questions about the relationship between traditional authorities and elected officials in Ghana. While traditional leaders hold significant cultural and moral influence, their ability to banish elected representatives underscores the complex interplay between modern governance and traditional norms.

As the situation unfolds, the Aowin constituency remains at the center of a contentious debate over accountability, respect for tradition, and the role of elected leaders in preserving cultural heritage. Whether Larbi can mend fences with the traditional council or whether the ban will stand as a symbol of defiance against perceived political arrogance remains to be seen. For now, the Aowin Traditional Council’s decision serves as a stark reminder of the enduring power of tradition in Ghana’s political landscape.

AGI pushes for local raw materials to cut import costs

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The Association of Ghana Industries (AGI) has renewed its call for the government to prioritise local raw material production to reduce the country’s heavy reliance on imports, which continues to strain the economy.

According to the AGI, securing local alternatives will ease pressure on the cedi, as the demand for foreign exchange to purchase raw materials remains a key driver of its depreciation.

The association believes this shift is crucial for long-term economic stability and industrial growth.

Speaking to Citi Business News, the Greater Accra Regional Chairman of AGI, Tsonam Akpeloo, emphasised the need for urgent government intervention through the newly established Ministry of Trade, Agribusiness, and Industry.

For years, the AGI has warned that Ghana’s over-reliance on imported raw materials has weakened local industries, widened trade deficits, fuelled inflation, and increased national debt.

The group has also raised concerns about the vulnerability of Ghana’s supply chain, particularly in times of global economic disruptions, as seen during the COVID-19 pandemic.

Meanwhile, the government, under President John Dramani Mahama, has introduced a new ministerial structure aimed at driving economic transformation.

The Ministry of Trade, Agribusiness, and Industry is expected to play a central role in reducing import dependency, enhancing industrial productivity, and improving Ghana’s trade balance.

The new ministerial structure was formalised through the Civil Service (Ministries) Instrument (2025) (E.I. 1), signed on January 9, 2025, replacing the 2021 framework.

The restructured ministries reflect the government’s focus on key sectors such as agribusiness, green energy, digital transformation, youth empowerment and job creation.

Industry players are now looking to the new administration for concrete policies that will boost local raw material production and provide long-term relief for manufacturers struggling with rising import costs.

We’re working hard to address Ghana’s economic challenges – Mahama

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President John Dramani Mahama has assured Ghanaians that the country will take proactive steps to overcome its current economic challenges.

Speaking as the keynote speaker at the Chinese Lantern Festival Gala at the University of Ghana Sports Stadium on Sunday, February 9, he emphasized that despite economic difficulties, Ghana remains committed to restoring stability through strategic efforts and international partnerships.

President Mahama also highlighted the strong relationship between Ghana and China, acknowledging China’s role as a key development partner.

His remarks underscored the importance of international collaboration in tackling global and national issues, reaffirming Ghana’s commitment to economic recovery and sustainable development.


“As we celebrate tonight, let us reflect on the deeper message of this festival. The world today faces many challenges, economic uncertainty, global conflicts, climate change, and emerging health concerns. Yet, the light of this festival reminds us that even in times of darkness, hope must never be lost.

“It teaches us that resilience and unity can help us overcome obstacles and build a better future together.

“Ghana, like many other countries, is working hard to address economic challenges, and we are grateful for our friends and partners, including China. As we move forward, we must continue to embrace cooperation and mutual respect, ensuring that the benefits of our partnerships are shared by all our people,”he said.




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Kotoko and Hearts ‘unite in grief’ at vigil for late Nana Pooley

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In an emotional tribute to a devoted Asante Kotoko fan, supporters of the Porcupine Warriors and Accra Hearts of Oak set aside their historic rivalry to honour the late Nana Pooley at a solemn night vigil held at the Baba Yara Sports Stadium on Sunday, February 9.

Asante Kotoko and Hearts of Oak fans unite for Justice for late Nana Pooley

The event brought together not only the fans but also Kotoko’s players, technical team, and management members, all of whom stood in solidarity to mourn one of their own.

Head coach Prosper Narteh Ogum led the Kotoko delegation, while former Black Stars coach and current Sudan head coach, James Kwasi Appiah, was also present to pay his respects.

Prosper Narteh Ogum and Management members at vigil

Nana Pooley, a passionate Kotoko supporter, lost his life in a tragic incident on February 2 when he was fatally stabbed near the Nana Koromansah II Park following Kotoko’s Ghana Premier League match against Nsoatreman FC.

His untimely passing sent shockwaves through Ghana’s football community, prompting calls for justice and better security at match venues.

Fans demand Justice for late Pooley

A week after his passing, Kotoko, the club he adored, organised the night vigil to celebrate his life and bid him farewell. What stood out was the presence of Hearts of Oak fans, who put rivalry aside to show solidarity with their football counterparts.

The atmosphere outside the Baba Yara Sports Stadium was a blend of sorrow and unity. Fans, draped in red, yellow, and blue, gathered with candles in hand, their chants and songs echoing through the night.

Asante Kotoko players at vigil for late Pooley

In a moving display, Porcupine Tertiary, Kotoko’s university supporters’ wing, led morale-boosting jama songs, with Hearts of Oak fans enthusiastically joining in.

Pooley had been a key figure in these morale sessions, never missing a chance to lead the chants. Even on his wedding day, just seven months before his tragic death, he had broken into a jama session, much to the amusement of his wife, Yaa Gifty, and wedding guests.

Hearts of Oak fans at late Pooley vigil

His loss leaves a deep void, but the unity displayed at the vigil was a testament to the impact he had on Ghanaian football. As the football community continues to seek justice, one thing remains certain—Pooley’s infectious spirit and unwavering passion for the game will not be forgotten.

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.

President Mahama’s ORAL committee ensures accountability – Edudzi Tamekloe

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NDC Director of Legal Affairs, Godwin Edudzi Tamakloe NDC Director of Legal Affairs, Godwin Edudzi Tamakloe

The Director of Legal Affairs for the National Democratic Congress (NDC), Godwin Edudzi Tamekloe, has defended President John Dramani Mahama’s decision to establish the Operation Recover All Loots (ORAL) committee instead of opting for a Commission of Inquiry.

Addressing concerns on TV3’s “The Key Points,” he explained that the President’s choice was based on legal considerations that ensure greater accountability and avoid potential immunity for implicated individuals.

“Had the President chosen the Commission of Inquiry route, as seen in the Ghana at 50 case, legal limits would have been placed on the outcome, potentially providing immunity to individuals whose conduct may be in question. That is why, based on sound legal reasoning, this approach was not taken,” he stated on February 8.

His comments came amidst debates about the best mechanisms for retrieving state funds allegedly lost through corruption and mismanagement.

The establishment of ORAL has sparked discussions among political and legal analysts, with some arguing that a commission of inquiry would have provided a more structured process. However, Tamekloe insists that the committee’s role is to gather information rather than conduct criminal investigations.

“This is not an investigative body capable of taking caution statements. It is an information-gathering process, which will guide the President’s next steps,” he explained.

According to him, the committee aligns with President Mahama’s campaign promise to hold corrupt individuals accountable and reclaim misappropriated state resources.

“The President made a campaign promise to implement ORAL, and this committee is part of the preparatory steps.”

“On Monday, when the final report is submitted, the President will decide the next course of action, which could include forwarding the findings to the Attorney General,” he noted.

Mahama’s administration has faced significant pressure from the public and anti-corruption bodies to take decisive action against individuals believed to have engaged in financial malfeasance. As a result, the ORAL committee has been positioned as a critical step toward accountability.

“The President can choose to forward the report to the Attorney-General without making any public statements. This strategy allows for a more effective and legally sound approach,” Tamekloe emphasized.

Ghana told to demand more of its natural resource wealth to fund dev’t

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The Director of Research at the Institute of Economic Affairs (IEA), Dr John Kwakye, has said that the decision by the US government to stop its United States Agency for International Development (USAID) programme should be a wake-up call for Ghana.

Dr Kwakye makes the point that this is the time for Ghana to demand more of its natural resource wealth to fund its own development.

USAID has been providing aid to Ghana, particularly in health and agriculture.

The USAID has indicated plans to suspend its support for supply chain activities in three northern regions of the country.

US President Donald Trump stated that the agency’s spending is totally unexplainable and has singled out certain projects as examples of how the agency is, in its view, wasting taxpayers’ money.

In a post on his X page, Dr John Kwakye said “The USAID aid cut should be a wakeup call for Ghana to demand more of its natural resource wealth to fund the country’s development.”

Also commenting on this matter, Economist and Senior Lecturer at the University of Ghana Business School, Prof. Patrick Asuming, said Ghana could be independent of foreign aid and support.

“You cannot run a country where the financing of critical needs is dependent on other countries and donors. It’s not that we don’t have the means; we have the resources. Anytime any of the political parties are in opposition, they’re able to identify all the critical resources that can be mobilized. The amount of illicit financial flows out of this country is quite un believable,” he was quoted as saying by myjoyonline.com.

Prof. Asuming emphasised that the government needs to reassess its approach to attracting investments to eliminate corruption.

“Even the amount of money given out in the name of attracting foreign direct investment must be scrutinized. The funds are there. Let’s put our money where our mouth is,” he said.

 

 

Meet the Ghanaian team that biked from Accra to Dakar and back in 17 days

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AIS team lead, Daniel Ashrifie speaking to GhanaWeb's Etsey Atisu play videoAIS team lead, Daniel Ashrifie speaking to GhanaWeb’s Etsey Atisu

Motivated to expand the frontiers of their adventures, the Ghanaian biker group AIS recently completed a seventeen-day round trip from Ghana to Senegal, travelling through five African countries in total.

In a recent GhanaWeb Special with Etsey Atisu, the team lead of AIS, Daniel Ashrifie, discussed the dynamics of the annual event as well as details on the trip to Senegal, including the challenges faced.

“AIS has become an event; it is not a group per se. So, who does 2025 will not necessarily do 2026, and will not necessarily do 2027. Every year, those who want to embark on the tour do so. This year, we had eight people, seven guys and one lady, so I don’t call it a group. It’s an event where people come together to achieve a particular aim. For instance, this group came together to achieve a ride to Senegal. After, it will be dissolved, and a new group will be formed for the next event,” he stated.

According to Daniel, some challenges the group faced included language barriers, border delays, logistics, and financial constraints. He disclosed that the team had to pay $350 per border despite having all their documentation in order.

The journey, initially planned to last 15 days, extended to 17 days.

“When we got to Guinea, there was a fuel shortage. How were we going to move?” he shared.

“We were very fortunate that one station owner had mercy on us and gave us fuel,” he added.

Despite all the challenges, Daniel, who had his wife riding along with the team, described the feeling of the trip as worth the struggle.

He emphasized that beyond the thrill of riding through multiple countries, the team engaged in public road safety advocacy and education, bringing attention to the safety of bikers for other road users.

“It is fulfilling to set a target and achieve it. We said we were going to Dakar, Senegal, and we were able to achieve it amidst all the struggles. So, it’s fulfilling to do that. We wanted to do road safety advocacy; there is something we call ‘Look Twice for Motorcycles.’

“A motorcycle is easily on the blindside of a driver, so sometimes when someone is taking a turn, they don’t see you, and then they push you off the road, and the motorcycle is the biggest loser on public road space. So, we do this campaign called ‘Look Twice for Motorcycles’ to remind other road users that there are motorcyclists on the road. And so, we did that advocacy in all the countries we visited,” he said.

With a diverse team of adventurous professionals from different backgrounds, AIS, on their journey to Dakar, saw the participation of an American citizen who flew into Ghana just to join the trip.

The team’s documentary videographer, who was initially scheduled to travel with the team in an escort vehicle, also ended up with his own riding experience.

“It was a big challenge for me; I didn’t want to disappoint in the sense that if someone is entrusting you with their bike, you don’t want to do any damage to it. Mind you also; I was riding with a front flat tyre,” Ekow, who had to replace a biker who ended the journey due to a health condition, shared his experience.

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GSE, GSIA push for capital market reforms

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Capital market leaders are optimistic that significant reforms can be achieved in the medium-term, with the Ghana Stock Exchange (GSE) and Ghana Securities Industry Association (GSIA) pushing for legislative and structural changes in partnership with new leadership at the Securities and Exchange Commission (SEC).

The institutional pair believe urgent action on regulatory stability, capital market development and financial sustainability for SEC are among the most paramount issues.

Speaking exclusively with B&FT, Managing Director-GSE Abena Amoah highlighted the review and swift passage of an updated Securities Industry Act as a top priority for the newly-appointed Acting Director-General of SEC, James Avedzi Klutse.

“The existing framework has been in existence since 2016. However, over the last two years we have been reviewing it to align with international standards while simplifying it to facilitate the sector’s growth,” she said of the Securities Industry Act, 2016 (Act 929) and its Regulations.

GSIA president Winston Nelson Jr. also stressed the importance of finalising the Act which he said aims to close regulatory gaps, particularly in response to past financial sector crises.

Since the existing framework was put in place, the sector has experienced the clean up exercise of 2017 to 2019, the Domestic Debt Exchange Programme (DDE0) and subsequent mark-to-market directives of 2022 and 2023.

Mr. Nelson noted that while those developments were adverse, they exposed shortfalls in the legislative set-up and consequent limitations of SEC as a regulator.

“This new Act is designed to fix those gaps and build a more robust industry framework that can sustain us for the next five decades,” Mr. Nelson stated in a separate interview with this paper.

Given Mr. Klutse’s experience as former Chair of Parliament’s Finance Committee, they both expressed expectation that his leadership will ushered in and accelerate these legislative changes.

“Knowing he chaired the Finance Committee and understands the legislative process, we’re very excited,” the GSE boss said.

“The Securities Industry bill is critical. Given his background and experience, we hope he will prioritise and get it passed,” Mr. Nelson added.

Ms. Amoah further pointed out the need for a more flexible regulatory framework for capital raising, arguing that laws should not impose the same compliance burdens on small issuers as they do on billion-cedi transactions.

“A company looking to raise GH¢10million must have a simple process compared to one seeking a billion cedis, for example,” she said.

Mr. Nelson also stressed the importance of maintaining continuity in regulatory oversight. “For us, the expectation is that we will be able to have the same rapport, the same working relationship, the same partnership. Should we say same or better? Never worse,” he said.

Capital Market Master Plan

Both Mr. Nelson and Ms. Amoah highlighted the Capital Market Master Plan (CMMP) as a crucial initiative to strengthen Ghana’s capital markets.

The GSIA president described the CMMP as an “umbrella project carried by the whole capital markets”, as he reiterated the importance of continuity in its implementation.

“The Capital Market Master Plan is an exceptional document that has been well-received by the industry. While we have made modest progress in its implementation, there is is still so much to cover and we are expecting that the new leadership at the regulator will continue to push it,” he explained.

The GSE MD echoed this sentiment, stating: “The CMMP is a great document; the market rallied behind it and we are working on implementing the key policies – such as the right tax incentives to energise investors and issuers on the market”.

The Accra bourse has been at the forefront of the push for reinstatement of capital gains tax exemption on listed securities, as well as other tax incentives for would-be listing companies.

Introduced in 2016 to stimulate the market, the capital gains exemption permitted resident investors to “elect to pay tax on capital gains on the realisation of an investment asset at 15 percent; otherwise, the capital gain is taxable at the investor’s marginal tax rate”. However, this exemption expired in 2021 and has not been reinstated since.

Beyond policy implementation, Ms. Amoah stressed the importance of financial literacy – particularly for young people.

“We need to pursue policies that put investment education in primary school, make it a mandatory training programme to reduce investment fraud, to reduce some of the cyber frauds and all that we are seeing – but also to empower an agenda, the culture of savings and investment at a young age,” she said.

Demutualisation

Another key focus area for both industry leaders is demutualisation of the GSE, a process that would transform the Exchange into a profit-oriented, shareholder-owned entity and ostensibly drive efficiency.

Ms. Amoah confirmed that the GSE remains committed to completing this transition. “It is a priority for the SEC, it is a priority for us at the GSE and we look forward to working with them to bring finalisation to demutualisation of the exchange,” she said.

Mr. Nelson provided further insight into the progress made so far, noting that: “We have done a lot of work, stakeholder consultations; we have been doing this project for two, three years. A lot of engagements, spoken to people, etc. Committees have been set up, paperwork has been done”.

He urged SEC to expedite the approval process despite the change of guard, arguing: “ Almost all the work we are required to do as members of the stock exchange we have done. We really hope it can be finalised this year”.

If successful, the Accra bourse will join its peers in Johannesburg, Nairobi, Dar es Salaam, Lagos and Casablanca, among others.

SEC’s Sustainable Funding

Mr. Nelson further raised concern about the SEC’s chronic underfunding, which they argue has hindered the regulator’s effectiveness.

He described SEC as the least-resourced regulator in Ghana’s financial sector. “No securities regulator should be in that state,” he said, pointing out that other financial regulators operate from well-resourced offices.

A B&FT analysis from June 2021 revealed that, at the time, the Bank of Ghana (BoG) was regulating 823 financial institutions, including banks, microfinance firms and forex bureaux, while the Securities and Exchange Commission (SEC) oversaw 232 entities such as investment banks, mutual funds and stock exchanges.

Despite the SEC regulating about a quarter of the institutions under BoG’s purview, the staffing gap is far wider. As of December 2018, BoG had 2,016 employees whereas SEC in 2021 had only 68 full-time staff – just 3 percent of the central bank’s workforce – with plans to expand.

Checks with their most recent data showed that the number of full-time employees at the Commission had increased to 83 at end-2023. The SEC also recorded a total income of GH¢68.94million and total assets of GH¢84.96million at the end of 2023.

For context, the BoG had a staff strength of 2,234 during the same period under consideration. The total operating income of the Bank stood at GH¢7.88billion and was attributed “to a large extent, to interest earned on the Bank’s investments in securities and bonds held abroad, fines imposed on institutions for regulatory breaches and fees and charges”. It also had total assets valued at GH¢139.3billion.

To address this, Mr. Nelson suggested that SEC should receive a portion of fees collected by the National Pensions Regulatory Authority (NPRA).

“There has always been a discussion that some parts of the NPRA charges – you know, for pensions – are provided in the law. Some parts of it should also be allocated to the SEC,” he said.

He argued that a well-funded SEC is critical for market stability, stating, “It is critical for the Securities and Exchange Commission to be well-funded, because what they do has far-reaching consequences for all of us if they get it wrong.”

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