President John Dramani Mahama has expressed intentions to revisit the privatisation of power distribution in Ghana, highlighting its necessity for improving efficiency in the country’s energy sector.

The President disclosed these plans during a meeting with a delegation from the World Bank at his private office in Cantonments, Accra.

He stressed the importance of addressing systemic inefficiencies that have plagued the nation’s power value chain, particularly within the Electricity Company of Ghana (ECG).

Reflecting on his tenure as Vice President under the late Professor John Evans Atta Mills, President Mahama recounted the launch of the Millennium Challenge Corporation (MCC) project.

The initiative aimed to position Ghana as a leading producer and exporter of electricity in Africa by enhancing the sector’s overall efficiency.

“During my time as Vice President, the late President Atta Mills initiated the Millennium Corporation Compact, designed to make Ghana the most efficient electricity producer in Africa and a hub for energy exports,” he said.

“Sadly, while democracy has its dividends, it can sometimes be a curse. The programme’s final phase, intended to improve distribution and metering, was mishandled by subsequent administrations, with the Power Distribution Service (PDS) becoming a thing of the past.”

President Mahama underlined the importance of revisiting privatisation efforts to improve the ECG’s operations.

“If we don’t fix the Electricity Company of Ghana, we will continue to face significant challenges across the entire power value chain,” he noted, signalling his administration’s readiness to re-engage the private sector in electricity distribution.

He added that discussions with the World Bank would be sought to harness the necessary expertise for this initiative.

According to the President, privatising the final phase of power distribution could be key to ensuring sustainable energy solutions and achieving Ghana’s long-term energy goals.

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.

After making a remarkable journey on foot, Alhaji Yakubu Ayaana, a 65-year-old Kumasi resident, gained national recognition.

In an attempt to personally congratulate former President John Mahama, he walked from Kumasi to Accra.

He received recognition and substantial awards for this extraordinary act of dedication on January 8, 2025, at a special gathering in Independence Square.

Alhaji Ayaana set off on his quest unshakably, despite his advanced age and the physical difficulties of such a voyage.

Due to health issues, many people discouraged him, but he persisted because he believed in his mission.

His perseverance was celebrated after his efforts moved people all around Ghana.

To recognize his efforts, Alhaji Ayaana was given a number of presents during the occasion. The list of prizes he received is as follows:

1. A Brand-New Renault KWID

Alhaji Ayaana was gifted a Renault KWID, a compact and reliable car that will undoubtedly ease his travel needs in the future.

2. An Undisclosed Amount of Money

To further support him, Alhaji Ayaana was presented with a monetary gift. While the exact amount was not revealed, it symbolized appreciation for his remarkable journey.

3. Clothing Worth GHC5,000

Nineteen57 Clothing, a renowned fashion brand, provided Alhaji Ayaana with stylish clothes valued at GHC5,000. The brand’s generosity showcased their support for his dedication.

The presentation of these gifts was organized by Kofi Okyere, the Creative President of Nineteen57 Clothing, and supported by an anonymous philanthropist.

Speaking at the ceremony, Okyere praised Alhaji Ayaana’s determination, stating, “Your journey is a testament to the power of resilience and purpose.”

Alhaji Ayaana expressed heartfelt gratitude for the support and recognition he received.

“I thank God for giving me the strength to complete this journey and for the kindness shown to me today,” he said.

Link;

https://x.com/readersstudios/status/1877094229702316390?s=19

The Majority Leader, Dr Cassiel Ato Forson, has announced that all four independent Members of Parliament have expressed their intention to align with the Majority Caucus in Parliament.

Among them, Kwame Asare Obeng, MP for Gomoa Central, has formally communicated his decision to the Majority Caucus.

However, the other three – Ohene Kwame Frimpong (Asante Akim North), Nandaya Yaw Stanley (Wulensi), and Worlasi Kpeli (Afram Plains North) – have been urged to submit official letters to both the Majority Caucus and the Speaker for validation.

“Currently, we have received letters from all four of them. So, Mr. Speaker, we’ll wait for them to officially write to you.

“My attention [has been drawn to the fact] that so far, the MP for Gomoa Central has written to us, but the rest are yet to write officially to confirm their positions,” Dr Forson disclosed during a parliamentary session on Wednesday, January 8, 2025.

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

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

The World Bank has reaffirmed its commitment to advancing economic growth in Africa, with Ghana positioned as a key focus for development financing and strategic partnerships.

Ousmane Diagana, Vice President for West and Central Africa at the World Bank underscored the institution’s dedication to helping African nations overcome challenges to sustainable growth.

Speaking during a high-level delegation meeting with President John Mahama in Accra on January 8, 2025, Diagana emphasised a renewed approach under the World Bank’s new leadership.

Diagana explained the shift in priorities following the appointment of Ajay Banga as the World Bank’s President. “We now focus on being a ‘better bank’ before becoming a ‘bigger bank,’” he said.

He highlighted the importance of ownership, partnership, and complementing financial assistance with global knowledge to foster sustainable development.

“As a global institution, our experiences with various countries have equipped us to provide tailored support.

“This includes addressing challenges like domestic resource mobilization and ensuring financing models are optimized for economic growth,” he added.

Diagana drew attention to Ghana’s need to widen its resource base, noting that the country faces challenges similar to those in Senegal and Kenya.

“We are happy to bring our expertise into discussions with Ghana, ensuring the domestic organization of financing is strengthened,” he said.

He also addressed the cocoa sector, a cornerstone of Ghana’s economy, highlighting its potential and challenges.

“Through our Country Climate and Development Report, we have identified opportunities in agriculture, particularly cocoa. Our recommendations and existing programmes aim to address sector challenges and unlock its full potential,” Diagana explained.

The meeting underscored the World Bank’s focus on blending financial assistance with expertise, ensuring that Ghana benefits from the institution’s global experience.

This collaborative approach aims to address systemic challenges while empowering the country to harness its economic potential.

As Ghana embarks on its next chapter under President Mahama’s leadership, the World Bank’s commitment signals optimism for enhanced partnerships and impactful development efforts in critical sectors such as agriculture and resource mobilization.

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 John Dramani Mahama

The Deputy Majority Leader in Parliament, Emmanuel Armah-Kofi Buah, has extended heartfelt congratulations to President John Dramani Mahama on his historic inauguration and swearing-in as the sixth President of the Fourth Republic of Ghana.

” It is both refreshing and inspiring to witness the swearing-in of the first-ever female vice President of the Republic, Professor Jane Naana Opoku-Agyemang”.

He noted that “This milestone marks a significant achievement in our nation’s journey towards bridging gender parity, diversity, and inclusivity.”

Armah-Kofi Buah, who is the Member of Parliament (MP) for Ellembelle, gave the commendation in a statement issued and signed by his office copied to Ghana News Agency at Aiyinasi.

Armah-Kofi Buah was positive that with a solid economic management team and cabinet Ministers, the Mahama administration was poised to lift the country from the current economic quagmire to one of prosperity to better the living conditions of the people.

In his inaugural speech, President Mahama succinctly conveyed a powerful message to Ghana: a commitment to diligently work towards resetting our beloved country on the path to prosperity, stability, and good governance.

Watch the moment John Mahama arrived for his investiture as President of Ghana:

The term “interest rate derivatives” often elicits uncertainty, even among seasoned corporate finance teams. Similar to other risk management instruments, many perceive these tools as complex. However, because interest rates remain volatile, impacting borrowing costs, businesses managing variable-rate loans or planning major capital expenditures must now prioritise these tools more than ever.

This article seeks to clarify Interest Rate Swaps and Options (Caps, Floors, and Collars) and emphasise their practical applications for businesses. Rather than serving as a technical manual, it urges action, highlighting that fluctuations in interest rates can cause unforeseen cost increases, whereas hedging instruments offer a measure of certainty and financial stability.

The global economic landscape has seen significant shifts in interest rates in recent years, often catching businesses unprepared. For instance, in 2022, central banks rapidly raised rates to counter inflation, leaving companies with floating-rate loans facing unexpectedly higher interest payments. These sudden cost surges can strain profitability, especially for businesses reliant on debt financing.

This article will also highlight the potential risks of unhedged interest rate exposures and discuss how Interest Rate Swaps and Options can act as essential insurance against rate fluctuations, allowing businesses to focus on their growth objectives without fearing unpredictable borrowing costs.

How Does Interest Rate Risk Affect Corporates?

Consider a company that has taken a floating-rate loan tied to the Secured Overnight Financing Rate (SOFR) plus a margin of 3%. Paying at a floating rate means the future SOFR rate is unknown, which could be higher or lower than current levels, potentially burdening the client if SOFR rises. To illustrate, assume SOFR stands at 5%, the effective borrowing rate is thus 8%. 

If SOFR increases by just 2% to 7%, the borrowing cost rises to 10%, potentially impacting profit margins significantly. For a loan of $10 million, this translates to an additional annual cost of $200,000 in interest alone. Without a hedging strategy, the business absorbs this increased cost, which they could have mitigated with the right risk management tools. 

Similarly, businesses planning to issue fixed-rate bonds might find themselves disadvantaged if rates decrease after issuance, leaving them locked into higher costs.

What Precautions Can Businesses Take to Manage Interest Rate Risk?

Certainty is the key to mitigating interest rate risk. By employing hedging tools like swaps, caps, floors, and collars, businesses can stabilise their borrowing costs, ensuring predictable cash flows. Let’s explore these tools:

(I) Interest Rate Swaps (IRS)

An Interest Rate Swap allows a business to exchange its floating interest payments for fixed payments (or vice versa). This tool is ideal for corporates with floating-rate loans who seek protection against rising interest rates.

Let us look at an example: Imagine the same company with a $10 million floating-rate loan at SOFR + 3%. To hedge against potential rate increases, the company enters into an IRS agreement with the bank, locking in a fixed rate of 7% for the next three years.

• If SOFR rises to 8%, the company’s effective floating rate would have been 11%. However, under the IRS, the business continues paying the fixed rate of 7%, saving 4% annually on the loan.
• Conversely, if SOFR drops to 3%, the company still pays 7%. This creates a dilemma: paying more with fixed cash flows versus potentially paying less if the floating rate remains unchanged. This “cost” is, however, the trade-off for stability and predictability in financial planning.

Recommendation: Interest Rate Swaps are best suited for businesses with long-term floating-rate exposures. While they eliminate increasing interest rate risk, the trade-off is forfeiting potential savings if rates decline. The predominant impetus behind entering into such a swap arrangement is to therefore to enhance cash flow management or to pre-emptively mitigate the adverse effects expected from fluctuations in interest rates.

(II) Interest Rate Caps

A Cap provides the right to limit the maximum interest rate on a floating-rate loan. Businesses can benefit from lower rates while avoiding excessive increases.

Let us look at an example: Assume the company buys a Cap at 9% for its $10 million loan. If SOFR rises to 10%, the Cap activates, and the company pays a maximum of 9%. If rates remain below 9%, the business benefits from the lower floating rates.

There is, however, a cost to these structures given their immense benefit. They require an upfront premium, typically a percentage of the notional amount, which varies based on market volatility.

Recommendation: Caps are ideal for businesses expecting moderate rate increases but wanting to retain flexibility in case rates decrease.

(III) Interest Rate Floors (For Businesses that have investments)

A Floor sets a minimum interest rate level, ensuring a business earns a guaranteed return on interest-bearing assets like fixed deposits or bonds. If a company has invested in floating-rate instruments, a Floor ensures returns do not fall below a specified level, say 4%, even if SOFR drops to 2%. This is ideal for businesses or investment firms that want to protect their investment returns from declining and adversely impacting commitments made with the expectation of higher floating rates.

Recommendation: Floors are suitable for corporates with substantial interest-bearing assets exposed to declining rate environments.

(IV) Interest Rate Collars

A Collar combines a Cap and a Floor, creating a range within which the interest rate fluctuates. While it limits upside and downside risks, it usually comes with zero upfront premium.

We can look at an example of the same loan where the company enters into a Collar with a Cap of 9% and a Floor of 5%. If rates rise above 9%, the Cap ensures payments are capped at 9%. If rates drop below 5%, the Floor ensures payments remain at 5% essentially allowing the loan repayments to float in between the Cap and the Floor that is convenient for the business.

Recommendation: Collars work well for businesses looking to balance cost-effectiveness with risk protection, as they eliminate premium costs associated with standalone Caps or Floors.

Advantages of Hedging with Interest Rate Derivatives

There are many advantages of risk management products referencing interest rates:

1. Predictability: Ability to stabilise cash flows and enhance financial planning.
2. Flexibility: Options (Caps, Floors, and Collars) allow businesses to benefit from favourable market conditions.
3. Cost Savings: Swaps and zero-premium structures like Collars minimise hedging costs.
4. Competitive Edge: Protecting against rate volatility ensures businesses remain focused on operations without surprises from rate movements.

In an unpredictable interest rate environment, businesses must not leave their borrowing costs to chance. Utilising financial instruments such as Interest Rate Swaps, Caps, Floors, and Collars allows companies to mitigate the financial impact of rate fluctuations, ensuring stability in their operations.

We recommend discussing tailored solutions with your bank that align with your specific risk-reward profile. While the article primarily discussed SOFR hedging, it is important to note that Ghana Reference Rate (GRR) hedging is also feasible. This involves hedging where the local currency is utilized as either an asset or a liability. At Absa Bank, we are committed to guiding you in developing a comprehensive risk management strategy that supports your growth objectives while protecting your financial bottom line.

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The writer, Gerald Nana Kusi, is the Head of Institutional Sales and Structuring, at Absa Bank Ghana LTD

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.

Actor Kwaku Manu believes this is the end of Bawumia’s leadership of the NPP

Renowned Ghanaian actor and New Patriotic Party (NPP) sympathiser, Kwaku Manu, has expressed his concerns about the party’s treatment of Dr. Mahamudu Bawumia and former President Nana Addo Dankwa Akufo-Addo.

In an interview sighted by GhanaWeb Entertainment, Manu claimed that the NPP would not allow Dr. Bawumia to stand for president again, suggesting that Nana Addo had used his power to bring Bawumia into prominence.

According to him, now that Nana Addo is no longer in power, the party will use its resources to assert control.

“As Nana Addo has left the NPP party, the party won’t allow Dr. Bawumia to stand for the president again. They feel like because Nana Addo is the president, he used his power to bring in Dr. Bawumia, so now that he is no longer in power, they would use their money and power to show him that the party was for them.

“Now, even the NPP members, when they meet Nana Addo and he misbehaves, they will tell him, ‘When you’re on the seat that’s when you have power, so since you’re no longer on the seat, nobody is scared of you,’” he said.

Reflecting on his past support for the NPP, Manu criticised Nana Addo’s handling of certain issues with chiefs and kings, implying that it was not appropriate.

“Sometimes, I can’t just believe that Nana Addo is not our president anymore. I remember campaigning for the NPP before, and the influence the party had in the country was strong. But the way Nana Addo handled certain things with the chiefs and kings wasn’t right,” he added.

Meanwhile, John Dramani Mahama was officially sworn in as Ghana’s president on January 7, 2025, at a ceremony held at the Black Star Square in Accra.

This event marked his return to the presidency, making him the first former leader of Ghana to be re-elected to the highest office of the land.

The inauguration was attended by over 30 heads of state and prime ministers, highlighting its significance on the global stage.

In his inaugural speech, Mahama emphasised themes of democracy, hope, and inclusivity, pledging to build a resilient healthcare system and foster gender equality.

Watch the video below:

@sarpcessghdotcom #ghanatiktok🇬🇭 #sarpcessghdotcom #kwakumanu ♬ original sound – sarpcessghdotcom

Watch more videos from Mahama’s inauguration below:

ID/AE

World Bank officials in a meeting with President Mahama

The World Bank has indicated that it remains committed to fostering economic growth in African nations, particularly Ghana.

It promises to focus on financing key development initiatives in Ghana.

This was disclosed by Ousmane Diagana, Vice President for West and Central Africa at the World Bank, when he led a delegation to visit President John Mahama’s office in Accra on Wednesday, January 8, 2025.

According to him, the World Bank is dedicated to supporting African countries in overcoming the challenges of sustainable economic growth.

“In the last couple of months since the arrival of the new president, Ajay Banga, there is a concept that we call the better and bigger World Bank. But we are now focusing on the better bank before actually getting to the bigger bank.

“So with the better bank, obviously the elements of ownership for government, client, and partnership will be the order complementing the financial assistance that we are providing with the knowledge aspect because as a global institution, obviously we work with all of the countries, and this has allowed us to gain a lot of experience.

“As we mentioned on the formality aspect, how we can bring resources into the economy, making sure that those are not part of financing the economy …In particular in West African countries, this challenge that Ghana is facing in that area is the same that we see in Senegal, Kenya, etc. So we are happy to bring our department working in the area into the conversation with Ghana and see how we can really widen the resource base, making sure that the domestic organisation part of financing the economy also increases.

“On cocoa, Ghana is one of those countries where we have prepared what we call the country climate and development, and we had indeed identified the potential that exists in the agricultural sector, in particular, the whole of cocoa, but at the same time the challenges the sector has faced.

“So we have some recommendations that the team can discuss at some point, and in that regard, see how we can use our existing programme because we have some dedicated programmes in order to contribute in that sector,” he added.

Watch the moment John Mahama arrived for his investiture as President of Ghana:

Burkina Faso’s Head of State, brahim Traoré

Security consultant Professor Kwesi Anning has strongly criticized Burkina Faso’s President Ibrahim Traoré for visibly carrying a pistol at his side during President John Dramani Mahama’s inauguration ceremony in Accra.

In an interview on Morning Starr with Naa Dedei Tettey, Professor Anning described the incident as a significant breach of diplomatic protocol and expressed dismay at the display, particularly in the presence of high-profile dignitaries.

“What happened in Accra yesterday, which I’ve seen all over social media, was completely uncalled for,” he remarked.

“It was a breach of protocol, and many state officials and other dignitaries who were present might have wondered whether they were seeing correctly.”

The event, marking a pivotal moment in Ghana’s democratic history, brought leaders and representatives from across the continent to witness Mahama’s swearing-in. However, Traoré’s decision to attend with a sidearm raised eyebrows and sparked debates about diplomatic decorum and security arrangements at such events.

Professor Anning elaborated on customary practices for visiting heads of state and their security details.

“Normally, when a head of state travels with their security protocols, the weapons remain on the plane, with the understanding that the host country will provide maximum security,” he explained.

He dismissed arguments defending Traoré’s action, particularly those suggesting the pistol was part of his uniform.

“That does not hold water at all,” he asserted. “This was a major breach of protocol, especially when heads of state were present, and our own newly installed president was being greeted.”

Watch the moment John Mahama arrived for his investiture as President of Ghana:

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Zeqblog Blog of Wednesday, 8 January 2025

Source: Okine Isaac

The country’s power grid is on the brink of a major crisis as the government urgently requires nearly $90 million to secure fuel for thermal power plants, according to a report by the Ghana Grid Company (GRIDCo).

The report warns of potential power outages, popularly known as “dumsor,” if immediate action is not taken.

GRIDCo’s report highlights that the funds are needed to purchase liquid fuel, such as light crude oil, to keep thermal plants in Tema operational and meet rising electricity demand.

The shortage stems from a generation capacity deficit following a pigging exercise by the West African Gas Pipeline Company (WAPCO).

This maintenance activity temporarily disrupted natural gas supplies, leaving thermal plants without sufficient fuel.

To address the imminent crisis, GRIDCo has outlined several measures to stabilise the grid, including:

1. Rescheduling Maintenance: Revising planned shutdowns of generators to avoid overlapping with the WAPCO maintenance period.

2. Alternative Fuels: Procuring sufficient light crude oil or other liquid fuels to replace natural gas in thermal power generation.

3. Load Management: Considering load-shedding as a last resort to stabilize the grid if power shortages persist.

Pipeline Maintenance Delayed to 2025

The crisis was exacerbated by the maintenance of gas pipelines from Nigeria to Ghana by WAPCO, initially scheduled for October 2024 but postponed to January 2025 by the previous government.

This delay left the system vulnerable to disruptions during the maintenance period.

“There is a deficit in generation capacity during the period of the WAPCO pigging exercise. Therefore, it is necessary to procure liquid fuel to operate thermal plants in Tema to meet demand,” the report stated.

GRIDCo stated that $89.90 million is urgently required to avert the looming power outages and ensure grid stability.

The report warns that failure to act swiftly could lead to prolonged power outages, severely disrupting economic activities and public services.

Industries, businesses, and households may face significant challenges if the government does not secure funding and implement the recommended measures.

Stakeholders have called for expedited government intervention to raise the necessary funds and execute GRIDCo’s recommendations.

The urgency of the situation has sparked nationwide concern, with many fearing a return to the dreaded era of frequent and unpredictable power cuts.

As the clock ticks, the onus is on the government to act decisively and prevent Ghana from slipping into a full-blown power crisis.

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.

Young starlets Gavi and Lamine Yamal fired Barcelona, without Dani Olmo after his licence to play was revoked, into the Spanish Super Cup final with a 2-0 win against Athletic Bilbao.

Spanish playmaker Olmo was cleared to play again on a temporary basis before the game on Wednesday, but the decision came too late for him or Pau Victor, in the same position, to feature against Copa del Rey winners Athletic.

Gavi put Barcelona ahead from close range after 17 minutes and teenage winger Yamal netted the second early after the break.

Spanish and European champions Real Madrid face cup runners-up Mallorca on Thursday in the second semifinal.

“We don’t care [who we face in the final]. It will be hard and we want to win it, which is the important thing, and go back home with the trophy,” Yamal told Movistar after the game.

Barcelona, who qualified as La Liga runners-up, started brightly and Raphinha volleyed over from a fine Jules Kounde cross and forced Unai Simon into a good save with a free-kick.

It was no surprise when the Catalans broke the deadlock with Alejandro Balde cutting the ball back for Gavi, playing in Olmo’s attacking midfield role, to turn home.

The 20-year-old pointed at an imaginary watch in his celebration, a nod to Olmo, who regularly produces the same gesture after scoring.

At the other end, Inaki Williams dallied on the ball too long as Athletic’s best attacking move of the first half broke down.

Yamal, 17, should have added Barcelona’s second after Raphinha’s shot was saved but miscued an attempted lob.

Wojciech Szczesny, on his second start in goal for Barcelona, made a good save to keep Inaki Williams at bay before the break.

Barcelona doubled their lead early in the second half when Gavi slipped in Yamal who finished with aplomb.

“Athletic are a very physical team that make you run a lot. We suffered above all towards the end, but we were able to play well, and we’re very happy,” Yamal added.

Veteran Polish forward Robert Lewandowski spurned a fine chance to add the third, firing off-target when well-placed.

Athletic coach Ernesto Valverde, who was sacked as Barcelona boss after a defeat at the same stadium in 2020, brought on Nico Williams to try and turn the game around.

The Spain international, heavily linked with Barcelona in the summer, was not fit enough to start, but made a positive impact from the bench.

The winger set up Oscar de Marcos to strike, but the Athletic defender had strayed just offside and the goal was ruled out.

Inaki Williams also had a goal ruled out for offside after Frenkie de Jong’s poor back-pass took a slight deflection off Alvaro Djalo on its way to the Ghana international.

Barcelona secured their victory and await their opponents in Sunday’s final, in which Olmo will be allowed to feature.

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.

This blog is managed by the content creator and not GhanaWeb, its affiliates, or employees. Advertising on this blog requires a minimum of GH₵50 a week. Contact the blog owner with any queries.

Zeqblog Blog of Wednesday, 8 January 2025

Source: Okine Isaac

The 9th Parliament of Ghana, sworn in on the dawn of Tuesday, January 7, 2025, has finalised the composition of its key committees, including the Appointments Committee.

This committee, critical for vetting President John Dramani Mahama‘s ministerial nominees, comprises members from both the Majority and Minority sides of the House.

Following a meeting by the Committee of Selection on January 8, 2025, the membership of the Appointments Committee was formalised in line with Article 103 of the 1992 Constitution and the Standing Orders of Parliament.

The Committee’s composition reflects input from the leadership of both caucuses and adheres to the principle of representing the diversity of opinions in Parliament.

The Appointments Committee, chaired by Hon. Bernard Ahiafor, is responsible for vetting nominees for ministerial, ambassadorial, and other key positions.

Notable members include:

Hon. Bernard Ahiafor (Chairman)

Hon. Emmanuel Armah-Kofi Buah (Vice Chairperson)

Hon. Kwame Governs Agbodza

Hon. Mahama Ayariga

Hon. Agnes Naa Momo Lartey

Hon. Alexander K. Afenyo-Markin (Ranking Member)

Hon. Patricia Appiagyei (Deputy Ranking Member)

The Committee has been tasked with ensuring a rigorous but fair vetting process for President Mahama’s nominees, especially given the pressing need for the new government to hit the ground running.

During deliberations, the Committee adhered to Standing Orders 216 and 217, ensuring balance and representation in the committee’s composition.

The Speaker of Parliament emphasised the importance of these appointments to foster unity and effective governance.

Ghanaians will be keenly observing the process, which will provide insight into the new administration’s approach to governance and accountability.

Below is the list of the Appointments Committee members: