Chief Executive Officer of the Petroleum Hub Development Corporation, Dr Toni Aubynn

The Chief Executive Officer of the Petroleum Hub Development Corporation (PHDC), Dr Toni Aubynn, has reaffirmed Ghana’s strategic ambition to become the energy and logistics gateway of West Africa through the development of the Petroleum Hub in Jomoro, Western Region.

According to him, the government has completed all necessary preparatory processes to begin the establishment of the hub, which is expected to diversify Ghana’s energy mix and significantly expand employment opportunities for the youth.

Speaking at an inter-agency dialogue in Accra on Wednesday, April 30, 2025, Dr Aubynn noted that the Petroleum Hub, once fully operational, will not only transform Ghana’s petroleum sector but also drive regional energy integration and development.

“This hub, when fully operational, will not only change the face of our petroleum landscape but also position Ghana as a strategic energy and logistics gateway in West Africa. It is more than just a collection of refineries, tank farms, pipelines, and ports, we are building the beating heart of energy transformation in the region,” he said.

He described the project’s scale and infrastructure as marking a new dawn in the continent’s energy evolution.

Dr Aubynn emphasised that beyond innovation, the hub is intended to be a powerful engine for job creation, local capacity building, and long-term economic stability.

“We are building a hub that creates jobs, drives innovation, builds local capacity, and strengthens Ghana’s economic resilience,” he added.

However, he called for continued collaboration among key stakeholders to bring the project’s vision to fruition.

“We cannot build this vision alone. It will require the continued support of regulatory agencies, planning authorities, environmental bodies, security institutions, NGOs, and commercial actors, each playing a critical role in turning this strategy into reality,” he said.

SP/MA

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The Cleveland Cavaliers crushed the Miami Heat 138-83 to complete a 4-0 sweep in their first-round NBA playoff series, advancing to the Eastern Conference semi-finals.

Donovan Mitchell led the Cavaliers with 22 points, while De’Andre Hunter added 19, Ty Jerome 18, and Evan Mobley 17 in a dominant team performance. The 55-point margin is the fourth-largest in NBA playoff history and marks Miami’s worst-ever postseason defeat.

“We came out here with a goal… to keep our foot on their throat,” Mitchell said in a post-game interview with TNT.

Miami’s previous biggest playoff loss was 37 points, also set in this series. Heat coach Erik Spoelstra admitted, “They just took it to another level. They left us behind these past two games.”

Cleveland now awaits the winner of the Milwaukee Bucks vs. Indiana Pacers series, with Indiana currently leading 3-1.

In the Western Conference, the Golden State Warriors edged the Houston Rockets 109-106 in San Francisco to take a 3-1 series lead.

The Minority Caucus on the Foreign Affairs Committee of Parliament has expressed concern about the recent issuance of a Level 2 Travel Advisory on Ghana by the United States of America (USA),

The Caucus, in a statement issued Tuesday, April 29, 2025, described the development as “a serious indictment of Ghana’s longstanding reputation as one of Africa’s safest, most stable, and well-governed nations.”

The US government in its latest advisory urged citizens to “exercise increased caution” when in or traveling to Ghana, due to rising incidents of violent crimes, weak enforcement of laws, and underreporting of serious offences such as sexual assault.

The Travel Advisory, according to the statement signed by the Deputy Ranking Member on the Foreign Affairs Committee, Nana Asafo Adjei Ayeh, “also includes Indicators for widespread violence and/or organized crimes (C), political and/or civil unrest (U), and other risks (O).”

He noted that: “Ghana, the beacon of democracy in Africa, has long enjoyed commendable international recognition for security, democratic stability, and good governance.”

“Unfortunately, post-elections violence perpetrated by known political activists, which have gone unpunished, has contributed to this damning Advisory being issued on Ghana, and fast eroding Ghana’s enviable reputation among the community of nations.

“We are compelled to point out that this decline is not coincidental. It is symptomatic of the Government’s alarming failure to address growing insecurity, the breakdown of law enforcement, and a culture of impunity,” the release stated.

The Minority in the release blamed the government for its “scandalous silence and inaction regarding recent high-profile security matters, including allegations of drug trafficking, money laundering, and illicit financial flows,” which it claims “have tainted Ghana’s international financial reputation.”

“Additionally, the recent wave of violence in Bawku, including killings, indiscriminate shootings, and destruction of property, has further dented Ghana’s international image.

Indeed, the Travel Advisory places these areas at Level 3 risk, just below countries in the Sahel such as Burkina Faso and Mali, which are placed in Level.

“The Government’s inability to manage the Bawku conflict has not only endangered lives but has also raised serious security concerns. It is not far-fetched to conclude that such persistent unrest, coupled with the government’s failure to guarantee law and order, as well as recent engagements with high-risk countries in the Sahel, have influenced international partners like the United States to reassess Ghana’s safety profile, leading to the issuance of the travel advisory.

“Today, Ghana’s name, once synonymous with democracy and stability, is being dragged into disrepute. Our security situation has deteriorated to the point where travelers must now be warned of violent crimes, sexual assaults, and ineffective law enforcement.

“This is an utter betrayal of the Ghanaian people’s expectations and an embarrassment on the international stage.

“More importantly, this Advisory has serious implications for investment in our country, as investors would have to consider taking increased precautions anytime they travel to the country.”

He Caucus, therefore, calls on the Government “to act swiftly to restore Ghana’s sinking global image.”

“For the avoidance of doubt, Members of the Minority Caucus on the Foreign Affairs Committee of Parliament:

1. Condemn, in no uncertain terms, the Government’s negligence and poor handling of our national security and governance matters;

2. Demand that the Government acts swiftly to restore the rule of law by properly investigating and prosecuting all pending criminal cases without any political interference;

3. urge the President of the Republic to take urgent measures to rebuild the credibility of our security services and diplomatic image; and

4. Call on civil society, religious organizations, and the diplomatic community to join voices in holding the government accountable.

“Ghanaians deserve a government that upholds the rule of law, protects its citizens, and maintains our country’s rightful place as a beacon of peace and security on the African continent.

“We remain committed to upholding the integrity of our nation and defending its interests, both at home and abroad,” it concluded.

President Mahama gave a March 31 deadline for asset deadline

Several presidential appointees and staffers have failed to declare their assets, in defiance of a directive issued by President John Dramani Mahama, who had set a deadline of March 31, 2025, for all public officials under his administration to comply or risk removal from office.

The directive forms part of President Mahama’s broader anti-corruption campaign aimed at promoting transparency, accountability, and responsible governance.

After publicly declaring his own assets, President Mahama called on all his appointees to follow suit, emphasising that asset declaration is a legal and ethical obligation, not a choice.

However, documents obtained by GhanaWeb indicate that some high-profile individuals within the current administration have yet to submit their mandatory asset declaration forms to the Auditor-General’s Department, raising concerns about their commitment to good governance.

This lapse comes despite an extended deadline, suggesting resistance or neglect among certain officeholders. The situation casts a shadow over the government’s efforts to distinguish itself from previous administrations by upholding integrity and financial discipline.

Under Ghana’s 1992 Constitution and the Public Office Holders (Declaration of Assets and Disqualification) Act, 1998 (Act 550), specified public officials are required to declare their assets upon assumption of office, every four years, and at the end of their term.

Non-compliance is considered a breach of public trust and may lead to sanctions, including removal from office.

Meanwhile, observers say the refusal or delay by appointees to comply could undermine public confidence in the Mahama administration’s stated commitment to fighting corruption.

As pressure mounts, it remains to be seen whether the President will follow through on his warning and take action against non-compliant officials in the coming weeks.

It is, however, unclear what the president’s next steps will be.

See some of the names on the list below:

– Nathan Kofi Boakye, Director of Operations at the Presidency

– Seth Emmanuel Terkper, Presidential Adviser on the Economy

– Larry Gbevlo-Lartey, Special Envoy to the Alliance of Sahelian States

– Nana Yaa Jantuah, Presidential Staffer

– Charles Kipo, Director General, National Investigations Bureau

– Dr. Peter Boamah Otukunor, Presidential Initiatives in Agriculture and Agribusiness at the Presidency

– Samuel Ofosu Ampofo, Policy Adviser

– Kofi Okyere Darko, Presidential Adviser on Diaspora Affairs

See the full list below

SSD/MA

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Accra, April 30, GNA – Madam Amma Gyampo, the Chief Executive Officer of the Ghana Venture Capital and Private Equity Association (GVCA), has urged investors to prioritise harnessing capital from the local market to fund innovation-led growth in the country.

Speaking at the fourth Ghana Venture Capital Conference, in Accra, Madam Amma highlighted the pivotal role of venture capital in fueling innovation, empowering youth and women, and building resilient businesses capable of thriving amidst global economic shifts.

“Ghana stands at a pivotal moment,” she said. “We must prioritise the mobilisation of local capital to fund innovation-led growth.”

The conference, which was held on the theme: “Mobilising Domestic Capital as a Catalyst for Ghana’s Economic Growth,” provided a vibrant forum for dialogue, collaboration, and strategic action aimed at accelerating inclusive economic transformation.

It was attended by more than 350 guests and esteemed participants, including investors, entrepreneurs, policymakers, and development partners, who explored new frontiers for venture capital and private equity investment in Ghana and across Africa.

The conference also witnessed the launch of the Ghana Pensions and Insurance Industry Venture Capital / Private Equity Compact, spearheaded by Yaw Appiah Lartey, a Financial Advisory Partner at Deloitte Ghana, in collaboration with GVCA and inaugural signatories.

The launch of the Compact marks a historic step toward bridging the financing gap for SMEs by channeling institutional capital into the venture ecosystem.

Also launched at the conference was the Venture Capital Trust Fund (VCTF) Impact Report 2004-2024, which showcased the Fund’s achievements in mobilising investments across sectors such as technology, agribusiness, healthcare, and climate resilience.

Mr Kwamina Asomaning, Managing Director of Stanbic Bank Ghana, addressed both the promise and the challenges of Ghana’s investment ecosystem.

He emphasised the importance of strengthening investor confidence and aligning regulatory frameworks to stimulate long-term capital flow into high-impact sectors.

GNA

GRB

Ghana’s controversial “cash and carry” healthcare system, which requires patients to pay out-of-pocket for medical services, is facing renewed criticism as stakeholders push for urgent reforms.

The system has long been blamed for denying essential healthcare to the poor, resulting in preventable deaths and severe financial hardship.

Calls for change were recently amplified by Hon. David Boakye Ansah, Assembly Member for the Agyeimpra Electoral Area in Offinso, who underscored the dire consequences of the current model.

“It is deeply worrying that hospitals often deny patients crucial medical care due to their inability to immediately pay for readily available medications,” he said.

“This unfortunately leads to avoidable deaths within our hospitals. Many individuals, who are potential family heads and valuable contributors to Ghana, are lost because of these conditions.”

His remarks came during a heartfelt ceremony where UK-based Ghanaian philanthropist Richard Agyare paid the medical bills of thirteen stranded patients at Offinso St. Patrick’s Hospital.

The National Health Insurance Scheme (NHIS), introduced in 2003, was intended to remove financial barriers to healthcare access. However, persistent issues—such as delays in reimbursements to health facilities—have forced many hospitals to revert to upfront payments, putting vulnerable patients at even greater risk.

Government officials and policymakers are now being urged to prioritize healthcare reform, with growing calls that no Ghanaian should be denied medical treatment due to financial constraints.

Following the intervention, the management of St. Patrick’s Hospital expressed profound gratitude to the philanthropist for his timely support.

“We frequently encounter patients in need of financial assistance, and this act of kindness will go a long way in supporting them,” said Pearl Bemah Poku, a manager at the facility.

The beneficiaries, many of whom had lost hope of leaving the hospital due to unpaid bills, shared emotional accounts of their struggles. Some said even affording basic necessities like food had become nearly impossible, making their hospitalization an even more painful experience.

“I had given up, thinking I would be stuck here forever. Mr. Agyare’s kindness has given me a second chance at life,” said one patient.

While individual acts of generosity offer short-term relief, stakeholders agree that long-term, systemic reform is the only sustainable solution. Advocates are now pushing for strengthened NHIS funding, improved healthcare financing, and policies that ensure equitable access to medical services.

As Ghana continues its pursuit of universal health coverage, the plight of patients under the cash-and-carry system remains a stark reminder of the urgent need for lasting change.

Gold prices falls as dollar strengthens

Gold prices fell on Wednesday, April 30, 2025, as the US dollar strengthened amid signs of easing trade tensions.

Investors are now awaiting key US economic data that could influence the Federal Reserve’s next move on interest rates.

Spot gold declined by 0.4% to $3,302.58/oz as of 4:30 AM GMT, while US gold futures dropped 0.7% to $3,310.70/oz.

According to Nicholas Frappell, Global Head of Institutional Markets at ABC Refinery, the US dollar index gained 0.1% against major currencies, making gold more expensive for holders of other currencies and exerting downward pressure on bullion.

“There was a minor recovery in broad dollar strength, which led to a little bit of retracement in gold,” he noted.

This decline follows a recent rally that pushed gold prices to an all-time high of $3,500.05/oz on April 22, fueled by global economic uncertainty and market volatility.

The pullback comes after US President Donald Trump signed two executive orders aimed at mitigating the impact of auto tariffs.

Additionally, the US trade team announced its first agreement with a foreign partner since the latest wave of tariffs began.

Investors are now closely watching for the release of key data, including the US Personal Consumption Expenditures (PCE) price index later today and the nonfarm payrolls report due on Friday.

Markets are currently pricing in a total of 95 basis points in Fed rate cuts by the end of the year.

SP/MA

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The Minister for Finance, Dr. Cassiel Ato Forson, has inaugurated a nine-member board for the Ghana Revenue Authority (GRA), tasking them with the responsibility of driving revenue growth and upholding integrity.

The board is chaired by Hon. George Ricketts Hagan, former Deputy Finance Minister and Member of Parliament for Cape Coast South.

Other members include the Commissioner of the GRA, Mr. Anthony Sarpong.

The full list:
1. Hon. George Ricketts Hagan – Chairperson
2. Mr. Anthony Sarpong (GRA Commissioner) – Member
3. Mr. Patrick Nomo – Member
4. Hon. Elizabeth Ofosu-Adjare – Member
5. Dr. Zakaria Mumuni – Member
6. Madam Faustina Nelson – Member
7. Mr. George Ayiretey – Member
8. Hon. Laadi Ayamba – Member
9. Mr. Francis-Xavier Sosu – Member

Addressing the newly inaugurated board, Dr. Forson emphasized the critical role of the GRA in national development, noting that government policies depend heavily on the revenue it generates.

He charged the board to lead with dedication and a strong sense of integrity, and called for decisive measures to combat smuggling activities across the country’s borders.

He added that it’s time to look within and extensively raise domestic revenue to anchor government expenditure.

Four suspects connected to the recent cocaine bust at the Swissport Cargo Terminal, located within the Aviance Cargo Village at the Kotoka International Airport, have been remanded in prison custody.

They are scheduled to reappear in court on 6 May 2025.

The suspects face four charges: attempted exportation of narcotic drugs without a licence; conspiracy to commit a crime, namely exportation of narcotic drugs without a licence; conspiracy to commit a crime, namely possession of narcotic drugs without lawful authority; and possession of narcotic drugs without lawful authority.

Read also: NACOC intercepts 73 slabs of suspected cocaine bound for the Netherlands, 4 arrested

According to the prosecution, the Narcotics Control Commission has not yet concluded its planned analytical examination of the suspected substances at the Ghana Standards Authority. As such, the prosecution requested that the suspects be remanded in prison custody.

One of the suspects, Gariba Soli, is reported to be an artefact dealer operating from the Art Exhibition Centre in Accra. The remaining suspects—Josiah Biney, Emmanuel Minta, and Kwabena Ampofo Anti—are freight forwarders and employees of Ansahdys Shipping and Logistics Co. Ltd, based at the Aviance Cargo Village, KIA.

The prosecution alleges that on Wednesday, 23rd April, authorised officers stationed at the Export Section of the Swissport Cargo Terminal intercepted three wooden boxes during a routine physical inspection of outbound cargo bound for Brussels.

The boxes, which raised suspicion, were reportedly destined for the Netherlands.

An initial inspection revealed that the boxes contained assorted wooden artefacts and no apparent contraband. However, when emptied and scanned, imaging revealed the presence of false compartments in each box.

Upon further examination, the compartments were dismantled, revealing a total of seventy-three (73) compressed slabs of suspected narcotic substances. When a sample slab was cut open, it exposed a whitish, powdery substance which, after field testing, returned a positive result for cocaine.

Read Also: NACOC intercepts 73 slabs of suspected cocaine bound for the Netherlands, 4 arrested

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By Stanley Senya

Accra, April 30, GNA – Mrs. Antoinette Kwofie, Finance Officer of MTN Ghana, has called on women-led businesses in Ghana to embrace e-commerce and invest in digital skills for new growth opportunities and expand their market reach.

She said this at maiden edition of the African Women in Leadership Organisation (AWLO) Ghana Impact Dinner held on April 27, 2025, in Accra.

The event brought together female entrepreneurs, business leaders, and investors to explore strategies for business expansion, with a special focus on empowering women in leadership and enterprise development.

During a panel discussion, Mrs. Kwofie pointed out gaps in how women entrepreneurs use digital tools.

She noted that while 60 per cent of women-led businesses across Africa relied on social media platforms like WhatsApp and Instagram for marketing and sales, only about 25 per cent use dedicated e-commerce platforms.

“This limited use of e-commerce is a missed opportunity, fear of online fraud is real, but there are secure payment systems and trusted platforms available. Embedding secure payment links on websites and engaging global e-commerce platforms can significantly boost the visibility and scalability of women-led businesses,” Mrs. Kwofie said

She urged women entrepreneurs to take advantage of training opportunities in digital skills and financial literacy, adding that several institutions offer capacity-building support tailored to women in business.

“I challenge every woman-led SME to go a step further in understanding and using digital platforms. The potential to grow your customer base and scale your business is tremendous,” she added.

The AWLO Ghana Impact Dinner marked a significant milestone for the African Women in Leadership Organisation, which has been championing women’s leadership across the continent since its inception in 2009.

The organization continues to empower women through leadership training, mentoring, and strategic networking opportunities.

GNA
CA/

Ghana’s local currency, the cedi, has recorded marginal gains against major trading currencies, particularly the US dollar, at some forex bureaus.

In its daily update, the Central Bank noted that the cedi is trading at a buying price of GH¢14.24 and a selling price of GH¢14.25 to a dollar.

The British pound is being bought at GH¢19.08 and sold at GH¢19.10, while the euro trades at a buying price of GH¢16.23 and a selling price of GH¢16.25.

Checks by GhanaWeb Business on April 30, 2025, at 08:00 AM indicate that the cedi is trading at GH¢15.30 to the dollar, while the pound is trading at GH¢20.30 at some major forex bureaus across the country.

Additionally, the euro is trading at GH¢17.40 on the retail market.

To curb the cedi’s depreciation, the Bank of Ghana sold over $200 million in the last quarter of 2024.

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Acting Chief Executive Officer of the GoldBod, Sammy Gyamfi

The Ghana Gold Board (GoldBod) has reached an agreement with nine large scale mining companies to buy 20% of their gold output locally for the country.

The landmark agreement was reached after series of negotiations between the management of GoldBod and representatives of mining companies who are not part of the Bank of Ghana Domestic Gold Purchase Program.

The companies are namely; Golden Team Mining Company Limited, Akroma Gold Limited, Adamus Resources Limited, Cardinal Namdini Mining Limited, Goldstone Akrokeri Limited, Earl International Group (GH) Limited, Xtra Gold Mining Limited, Prestea Sankofa Gold Limited and Gan He Mining Resource Development Limited.

Under the Agreement, the mining companies will deliver 20% of any gold they seek to export out of the country to the GoldBod in the form of doré bars at a designated collection point, which shall be the Assay Laboratory of the GoldBod at the Kotoka International Airport.

All payments by the GoldBod to the companies shall be calculated based on the World Market (LBMA AM) spot price, less a 1% discount and shall be effected within two (2) working days of the delivery of gold to the GoldBod under the agreement.

The currency for all transactions under this agreement shall be Ghana cedis, while the rate of exchange shall be the Daily Interbank FX (Weighted Median) Rate published by the Bank of Ghana.

The Acting Chief Executive Officer of the GoldBod, Sammy Gyamfi, thanked the companies and the Chamber of Mines for their cooperation and commitment to the vision of President Mahama aimed at optimizing national benefits from the gold resources of the country.

He indicated that the agreement forms part of the GoldBod’s bid to boost gold and foreign reserve accumulation by the Bank of Ghana in line with the vision of the President.

The GoldBod and all parties have agreed to sign a written Agreement to formalize this arrangement on the 15th of May, 2025, to pave way for the commencement of the program effective 1st June 2025.

*GOLDBOD SECURES AGREEMENT WITH 9 LARGE SCALE MINING COMPANIES TO BUY 20% OF THEIR GOLD OUTPUT*

The Ghana Gold Board (GoldBod) has reached an agreement with nine (9) Large Scale Mining Companies to buy 20% of their gold output locally for the country.

The landmark agreement… pic.twitter.com/OH716bkZ86

— Sammy Gyamfi (@SammyGyamfi_) April 30, 2025

SP/MA

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Mohammed Ali

Apr – 30 – 2025 , 10:43

2 minutes read