Nana Kwasi Boatey is the acting CEO of Ghana Publishing Company Limited

President John Mahama has appointed private legal practitioner and law lecturer Nana Kwasi Boatey as the acting Chief Executive Officer (CEO) of Ghana Publishing Company Limited.

Boatey’s appointment follows the termination of the appointment of former CEO David Asante, who served for eight years. Nana Kwasi Boatey is expected to bring his vast experience in law, media, and other managerial positions to bear on his new role.

Nana Kwasi Boatey was called to the Ghana Bar in 2011.

He attended the Kwame Nkrumah University of Science and Technology, where he obtained his LLB (Law) from 2005 to 2008.

He completed Kumasi Technical University in 2001, earning a Higher National Diploma (HND) in Dispensing Technology. He is a former student of Prempeh College, Kumasi.

He is also the CEO of Orbitplus Pharmacy Limited.

Boatey lectures on civil procedure at the Ghana School of Law in Kumasi. He also serves as the Head of Chambers at the law firm Dadson and Associates Ltd.

Nana Kwasi Boatey once served as Parliamentary Liaison and assistant to the then Minister for Trade and Industry, Hannah Tetteh, between May 2009 and November 2011.

He has also served as the Board Secretary of the Ghana Standards Authority and has worked in the media as a host of radio programs, including Decision 2020 on Kumasi-based Luv FM and Action Point on Kapital Radio.

Ghana Publishing Company (formerly called Ghana Publishing Corporation) was incorporated on March 9, 1965, under Legislative Instrument No. 413 and subsequently amended by L.I. 672 on December 11, 1970, to take over the functions of the former Government Printing Department and the administration of the Government Free Textbook Schemes.

The Assembly Press was converted into a Limited Liability Company under the Statutory Corporations (Conversion to Companies) Act 461, 1993, and re-named Ghana Publishing Company Limited in 2007.

According to information on the company’s website, it exists “primarily to print and publish very high-quality books and stationery for educational institutions, government departments, and the general public at competitive prices.”

“We aim at nothing but the best in all our services. As a printing and publishing company, our values drive us to offer world-class services to our clients and the general public.”

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President John Dramani Mahama has announced that his administration has no immediate plans to extend Ghana’s current $3 billion Extended Credit Facility (ECF) with the International Monetary Fund (IMF).

Speaking in an interview with Bloomberg TV at the Munich Security Conference, President Mahama stated that his government remains committed to the existing IMF program while keeping future extensions as an option if necessary.

“We’ve not talked about an extension of the program. We are determined to continue with this program.

“If it’s necessary to look at additional funds or to extend the program, we’ll consider it, but for now, we are focused on staying the course,” Mahama stated.

The $3 billion ECF, approved on May 17, 2023, spans three years and aims to support Ghana’s economic stability and growth.

During recent discussions with the IMF, President Mahama’s administration outlined key proposals to strengthen economic policies.

A major focus of the IMF engagement was tax rationalization.

John Mahama also criticized the previous government’s approach of imposing multiple taxes, which he argued led to diminishing returns as higher tax burdens resulted in lower revenue collection.

“The previous government’s strategy of adding more taxes backfired, leading to reduced revenue. We need to rationalize the tax system, make it more transparent, and easier to understand to improve compliance,” Mahama explained.

To support these efforts, the IMF has agreed to provide technical assistance to streamline Ghana’s tax system, ensuring efficiency and better compliance for businesses and individuals.

President Mahama also addressed Ghana’s ongoing debt restructuring efforts, noting significant repayments due this year, particularly domestic debt obligations exceeding $15 billion in 2025.

To manage these challenges, his administration has reactivated the country’s sinking fund to facilitate debt repayments.

“We have reactivated the sinking fund and allocated more resources to it to handle the repayments due this year,” President Mahama said.

He further emphasized the need for fiscal prudence, adding, “We must cut waste, rationalize expenditures, and redirect resources to priority programs.”

Looking ahead, President Mahama highlighted the upcoming budget presentation in March, which will incorporate recommendations from the IMF’s latest staff review.

The fourth IMF review is scheduled for April, and the government is aligning its fiscal policies with the IMF’s assessments.

“The budget in March will reflect insights from the IMF’s recent mission. We are committed to maintaining a strong partnership with the IMF to ensure the success of the ECF program,” President Mahama stated.

Despite economic challenges, John Mahama expressed confidence in Ghana’s relationship with the IMF, describing it as “cordial.”

He reiterated his administration’s dedication to steering the country toward economic stability and growth through prudent fiscal management and effective implementation of the IMF program.

ID/MA

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Kennedy Agyapong is the former Assin Central MP

The former Member of Parliament of Assin Central, Kennedy Agyapong, was denied entry to the Ashanti Regional Coordinating Council, the venue where the rerun for the Council of State elections for the Ashanti Region was being held.

The police, who enforced strict rules and guidelines, justified their actions by stating that the former lawmaker did not have the necessary accreditation to enter the premises where the voting exercise was taking place.

The premises, which were heavily guarded by police, saw the attendance of several prominent political figures from the New Patriotic Party (NPP) earlier on Monday, February 17, 2025.

Among them were former Education Minister Dr. Yaw Osei Adutwum, former Bantama MP Henry Kwabena Kokofu, and Kwadaso MP Kingsley Nyarko.

However, all of them were turned away after being denied entry.

The police maintained that only accredited individuals, particularly assembly members eligible to vote, were allowed access to the voting hall.

Although the reason for the presence of these prominent figures remains unclear, it is believed that they were there in solidarity with some of the candidates vying for positions in the Council of State elections.

The heavy security presence and strict measures were implemented to ensure a smooth voting process, following the violence and chaotic scenes that marred the first round of polling.

On February 11, 2025, chaos erupted at the Ashanti Regional Coordinating Council right after voting had ended.

A gang of unidentified thugs broke into the polling center and disrupted the sorting and counting of ballots.

Witnesses said the attackers stormed the venue, knocked over tables, destroyed ballot boxes, and scattered voting papers, forcing Electoral Commission officials to halt the exercise.

Supporters who were unhappy with the results allegedly instigated the violence, demanding a review of the outcome.

Although a sizeable number of police personnel were present at the venue, they struggled to contain the situation as tensions flared, prompting a temporary suspension of the election proceedings.

The violent altercation left several media personnel injured, including GhanaWeb’s Ashanti Regional Correspondent, Gideon Nana Peprah.

Sharing his ordeal with Etsey Atisu, Peprah recounted how about seven well-built men stormed the venue without provocation and began assaulting electoral officers.

“Men from nowhere just stormed the place. They rushed to the grounds where the electoral officers were sorting and counting. Suddenly, they started scattering everything including the ballots, prepared ballot papers, and tally sheets. Then, at some point, they even started attacking each other, which left us confused about what was happening,” he narrated.

According to him, while trying to leave the chaotic scene, the men approached him, accused him of filming the incident on his phone, and demanded that he delete the footage.

“I was attacked by about seven or eight of them. They claimed they saw me taking videos and ordered me to delete them. Before I could react, they seized my phone and overpowered me,” he added.

MAG/MA

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Interest rates for 91-day bills stand at 26.8%

Treasury bills have once again seen massive demand in the latest auction held on February 14, 2025.

The government recorded GH¢17.69 billion in bids but rejected excess bids worth GH¢8.265 billion, surpassing its target of GH¢8.068 billion.

According to the recent auction results, the 91-day and 364-day bills received the most bids in this week’s auction. However, the government accepted GH¢9.434 billion from the 91-day, 182-day, and 364-day bills.

In the February 7, 2025, auction, the 91-day bill saw strong demand, with GH¢6.820 billion in bids tendered, out of which GH¢5.226 billion was accepted.

For the 182-day bill, GH¢4.594 billion in bids were tendered, but only GH¢1.457 billion was accepted.

Additionally, GH¢6.284 billion in bids were submitted for the 364-day bill, of which GH¢2.750 billion was accepted.

Interest rates for the bills dropped marginally in the auction issued on February 17, 2025.

Currently, the rate for the 91-day bill stands at 26.85%, down from last week’s 27.98%, while the 182-day bill fell to 27.80% from 28.68% last week. The interest rate for the 364-day bill stands at 29.07%.

Last week, the government sold GH¢7.650 billion out of the GH¢10.559 billion tendered.

The government’s rejection of excess bids signals either a cautious borrowing approach or an effort to avoid high interest rates.

Although interest rates remain higher than the inflation rate, they will increase the government’s repayment costs when the bills mature.

The recent oversubscription indicates strong investor confidence in short-term instruments.

Meanwhile, the government intends to borrow GH¢7.729 billion in its next auction.

Treasury bills remain the government’s primary source of borrowing until it regains access to the international capital market.

SSD/MA

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The Appiatse community has been rebuilt following the devastating explosion in January 2022

A new market facility has been established in the Appiatse community of the Western Region.

The market, established through a collaboration between Genser Energy and Ghana Union Assurance (GUA), is part of the town’s recovery following the devastating explosion in January 2022. It is seen as a crucial step in revitalizing the local economy and providing new livelihoods for community members affected by the disaster.

The initiative was made possible through a fundraiser launched after the explosion, where donations were received and matched by Genser Energy and GUA. The American Chamber of Commerce (AmCham) in Ghana played a key role in facilitating the receipt of donations, ensuring that the necessary financial support was secured to bring the project to fruition.

For traders like Faustina Nyarko, who lost her business in the disaster, the new market offers a fresh start.

“The explosion took away everything – our homes, our lives, our businesses. This new market gives us a fresh start. I can now sell my goods in a proper space, and my children can have a future,” Nyarko said.

Similarly, vendor Mavis Asante expressed her hope for the community’s revival, saying, “We have been struggling to survive for too long since the disaster occurred. This market will bring back life to Appiatse. It means our community can thrive again. A big thanks to Genser and their partners.”

The newly completed facility includes 18 stalls for vendors, 14 shops for retailers, and six washrooms, two of which are designed for persons with disabilities.

Additionally, the market features vibrant murals painted by local artists, symbolizing the community’s strength and resilience.

The mural, titled “Hope,” was completed in five days and reflects the determination of the community to rebuild and emerge stronger from the tragedy.

Speaking at the commissioning ceremony, Daniel Ayi, Vice President of Operations & Maintenance at Genser Energy, highlighted the importance of collaboration.

“Let this moment remind us of what is possible when communities and businesses work together toward a common goal. We remain committed to supporting initiatives that uplift and empower people,” he stated.

Robert Wisdom Cudjoe, the Member of Parliament for Prestea Huni Valley, commended Genser Energy and GUA for their efforts in the reconstruction, describing the new market as a vital step toward economic revival.

“This will lessen the burden of the victims of the explosion and bring back dignity to the people of Appiatse,” Cudjoe said.

The Chief of Appiatse, Nana Atta Kojo Brembi II, also expressed gratitude for the initiative, stating, “When we look at this market here today, it is a place that will serve many generations after us.”

The market project aligns with the companies’ commitment to sustainable economic development and supports the United Nations Sustainable Development Goals (SDGs), particularly Goal 8 on sustained economic growth and Goal 9 on resilient infrastructure.

This new market facility marks a significant milestone in the ongoing recovery efforts for the Appiatse community, which continues to rebuild after the tragic explosion that affected so many lives.

I. EXECUTIVE SUMMARY

Given Ghana’s current GDP, estimated at about $74.3 billion (1.1 trillion GHS) in 2024,the country remains constrained by an outdated 8-hour economic model, limiting its ability to unlock new market opportunities, drive job creation, and boost investment inflows.

Most businesses shut down by 10 PM, resulting in billions in unrealized revenue and restricted economic productivity. Meanwhile, global 24-hour economic leaders—such as Singapore, Rwanda, Dubai, and New York—have leveraged the Blue Ocean Strategy (BOS)to eliminate market constraints, optimize business hours, and create entirely new industries beyond the traditional competition.

Rather than merely extending work hours within saturated markets, these economies pioneered innovation-driven, uncontested business models that generate new demand, attract investments, and enhance economic resilience. If Ghana successfully transitions to a BOS-driven 24-hour economy, its GDP could grow by an estimated25-40%, potentially reaching between $92.88 billion and $104.02 billion (1.375 trillion to 1.54 trillion GHS)within five years while creating over 3 million sustainable jobs across multiple industries.

While successful 24-hour economies such as Singapore, Dubai, and Rwanda provide valuable insights, Ghana’s transition requires a localized adaptation of BOS strategies. Key challenges—including energy reliability, security concerns, and cultural readiness for 24-hour operations—must be carefully addressed. Strategic investments in renewable energy solutions, AI-driven security infrastructure, and targeted awareness campaigns can help mitigate these barriers, ensuring a smooth and sustainable shift toward a 24-hour economy tailored to Ghana’s specific needs. Ghana’s fintech sector processes over $121.2 billion in annual mobile money transactions, yet outdated working hours and regulatory barriers limit its full potential.

Traditional banking structures and financial services remain constrained by an 8-hour operational model, preventing seamless transactions and reducing access to financial services for millions, particularly in underserved communities. A BOS-driven approach would enable AI-powered 24-hour banking, blockchain-secured digital payments, and fintech expansion into untapped rural markets, driving financial inclusion and unlocking billions in additional revenue. Beyond fintech, Ghana’s logistics and trade infrastructure struggles with inefficiencies, despite the country’s strategic position as a trade hub within the African Continental Free Trade Area (AfCFTA). The ports handle millions of tons of cargo annually, yet bureaucratic delays, poor integration of digital logistics systems, and time-restricted operations prevent full optimization.

A BOS-driven transformation would introduce AI-powered customs clearance, 24-hour automated warehousing, and blockchain-based supply chain authentication, cutting port delays and positioning Ghana as West Africa’s dominant trade and logistics center. The tourism and entertainment industries also remain underutilized, with Ghana’s hospitality sector largely shutting down by 10 PM. In comparison, global tourism powerhouses like Thailand and the UAE derive over 10% of their GDP from night-time economies. Ghana, with its rich cultural heritage and emerging Afrobeat scene, has the potential to develop 24-hour entertainment districts, smart ticketing for global tourism, and digital experience platforms to capture international markets.

A BOS-led approach would redefine Ghana’s tourism industry beyond seasonal visitors, fostering a year-round economy that attracts high-value spending. Workforce inefficiencies also present a major challenge, with the country yet to fully integrate into the global digital labor economy. AI, automation, and freelancing platforms have reshaped employment worldwide, yet Ghana’s current labor structure lacks the flexibility to compete in remote work and outsourced services. A BOS-inspired 24-hour workforce model would create smart digital hubs, provide AI-assisted remote job matching, and enable businesses to harness a global talent network.

Sustainability concerns must also be addressed, as high energy costs and environmental degradation, driven by illegal mining (galamsey) and deforestation, threaten Ghana’s long-term economic resilience. A BOS-led shift toward renewable energy, AI-driven efficiency models, and night-time circular economies would reduce operational costs and position Ghana as a leader in Africa’s green economy. With the right policies, strategic investments, and a commitment to innovation, Ghana can break free from outdated economic constraints and emerge as West Africa’s premier BOS-driven 24-hour economy.

To successfully implement BOS, Ghana must integrate 24-hour economic zones, AI-led workforce training, and targeted policy reforms—including flexible labor laws, tax incentives for night-time businesses, and automated licensing adjustments to encourage BOS-driven enterprises Will Ghana seize this opportunity to redefine its economic destiny, or remain bound by outdated constraints? The time for transformation is now.

II. INTRODUCTION

For decades, Ghana’s economic structure has remained heavily reliant on primary commodities, with gold, cocoa, and crude oil constituting the bulk of its exports. However, despite its abundant natural and mineral resources, the nation continues to grapple with severe economic challenges, high indebtedness, and financial instability. By the end of 2024, Ghana’s debt-to-GDP ratio had surpassed 83%, driven by external shocks, fiscal mismanagement, and a lack of economic diversification. This persistent over reliance on volatile commodity exports has made the economy highly susceptible to global price fluctuations, limiting long-term resilience and sustainable growth.

A Look at Blue Ocean and Red Ocean Strategies

Ghana’s economic development has traditionally been framed within a ROS, where businesses and industries compete within saturated markets, leading to diminishing profit margins, market saturation, and economic stagnation. The competitive landscape under ROS fosters price wars, resource depletion, and limited innovation, ultimately restricting economic expansion.

In contrast, BOS—a concept pioneered by W. Chan Kim and Renée Mauborgne in their 2005 book Blue Ocean Strategy: How to Create Uncontested Market Space and Make the Competition Irrelevant—advocates for the creation of new, uncontested market spaces through innovation, differentiation, and value creation. Instead of competing within existing industry boundaries, BOS encourages businesses and economies to eliminate inefficiencies, reduce redundant costs, raise industry standards, and create new demand. This model has been successfully implemented in economies such as Singapore, Dubai, and New York, enabling them to unlock multi-billion-dollar industries and position themselves as global economic hubs.

Core Principles of BOS

To successfully transition to a 24-hour economy, Ghana must apply the core principles of BOS:

1. Value Innovation: Unlike ROS, which focus on outperforming competitors in an existing market, BOS combines low cost with differentiation, creating entirely new demand instead of engaging in price wars. This approach allows Ghana to develop innovative, high-value industries rather than relying on cost-cutting and competition-based growth.
2. Eliminate-Reduce-Raise-Create (ERRC) Grid: This four-step framework helps identify areas for economic transformation:
   • Eliminate unnecessary costs and inefficiencies in Ghana’s current economic model.
   • Reduce reliance on volatile commodity exports and inefficient business hours.
   • Raise industry standards in fintech, digital trade, and logistics to compete globally.
   • Create new market spaces in 24-hour commerce,AI-driven industries, and sustainable night-time economies.
3. Breaking Industry Boundaries: BOS encourages redefining industry limits by offering unique value propositions, attracting new investors, and expanding beyond competition. Ghana can leverage AI-driven automation, smart logistics, and renewable energy solutions to create industries that do not yet exist in the region.
4. Non-Customer Focus: Traditional economic models target existing consumers, but BOS focuses on non-customers—those who are not currently engaged in the economy. Ghana must design inclusive, technology-driven policies to integrate rural populations, informal workers, and digital entrepreneurs into the formal economy through 24-hour business models.

ROS has long dominated Ghana’s business landscape, leading to price wars, market saturation, and reduced profit margins. But must economic success always be a zero-sum game? Why should Ghana fight over limited markets when it can create entirely new ones through BOS?