Mohammed-Anwar Sadat Adam, the Country Director for Oxfam, says Africa’s tax systems are exacerbating the continent’s growing inequality.

He stated that the regressive tax systems were designed to maintain the status quo in favour of the wealthy, with low-income citizens paying a higher proportion of their earnings as tax than the rich.

Adam raised this concern at the 7th College of Humanities International Research Conference and the 4th Staff Awards Ceremony, held at the University of Ghana’s Cedi Conference Centre.

The two-day conference is on the theme: “Bridging Inequalities in a Changing World: Advancing Inclusive Growth, Resilience, and Sustainable Natural Resource Management.”

The conference brought together research experts from the West African sub-region to deliberate on policy reforms aimed at closing the inequality gap. Academics also presented their research findings and papers.

Reduce prices or risk going out of business – GUTA advises traders

The Country Director asserted that Africa was the only region where taxes on property and wealth did not contribute to redistribution from the rich to the poor.

He explained that while the wealthy benefit from numerous tax incentives and exemptions on corporate income, labour is heavily taxed.

“For every dollar African countries raise through taxes on income and profit, they collect more than two dollars through regressive indirect taxes such as Value Added Tax (VAT), which often disproportionately affects the poor,” he said.

Adam shared compelling statistics, highlighting that African governments collectes less wealth tax than any other continent.

He further noted that despite a nearly 25 per cent decline in wealth tax, social security charges linked to salaries have risen by 20 per cent, and income taxes, increased by 13 per cent.

Anthony Yaw Baah, Chairperson of the Ghana Statistical Service Board, commented that although Ghana had achieved significant economic growth, inequality persists, with many young people remaining unemployed.

Referencing a former Vice President of the country, he said that the most effective way to ensure inclusive growth is to create jobs.

Baah stressed that economic growth without jobs for citizens and the youth could not be truly inclusive.

Professor Nana Aba Appiah Amfo, Vice Chancellor of the University of Ghana, highlighted the conference’s significance, noting that it reflected the university’s priorities, including a transformative student experience, strategic partnerships, and the promotion of inclusivity.

She added that while many challenges were global, the solutions must be locally grounded, and the findings from the various researchers were both globally relevant and locally applicable.

How Virtual Reality is enhancing business and customer experience

The Minister for Energy and Green Transition John Abdulai Jinapor (MP), on behalf of President John Dramani Mahama, has inaugurated the newly reconstituted board of the Ghana Grid Company (GRIDCo). 

The Minister tasked the new board with significantly strengthening the national grid to enhance power transmission across the country.

“Rising power demand requires continuous expansion of generation and transmission capacity. There is a critical need to strengthen the grid with additional infrastructure to evacuate power efficiently and reliably. I urge you to use your collective expertise and experience to provide strategic direction, sound governance, and innovative solutions”, the Minister stated.

On behalf of the members of the inaugurated board, the Chairperson, Mrs. Kuukua Maurice Ankrah, expressed their commitment to the task ahead, pledging to work diligently to meet the government’s objectives.

She acknowledged the importance of GRIDCo in ensuring reliable power transmission and contributing to Ghana’s economic development.

The members of the board are; 

Mrs. Kuukua Maurice Ankrah, Esq. (Chairperson)

Ing. Mark Awuah Baah – Ag. Managing Director

Daniel Atchule

Joshua Anaman Sackey

Muhammed Bashiru Nii Narh Alema

Solomon Kuyon

Joseph Kwame Kumah

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.

Socrate Safo is a veteran filmmaker

For veteran filmmaker Socrate Safo, the glamour of Ghana’s entertainment industry always comes with a reminder that behind the lights and applause lies an industry where success is never certain.

According to him, unlike other sectors, success in entertainment does not come with any guarantees.

Speaking on Hitz FM, the filmmaker recalled an experience from his early years in the movie industry when a Nigerian actor approached him for a role.

I regret giving ‘Ghost Tears’ to GBC for free in exchange for advertisement – Socrate Safo

At the time, he admitted he did not have the money to pay the actor but still wanted him in the film. Instead of a fee, Socrate mentioned that he offered the actor something different, the Nigerian distribution rights to the movie.

He explained, “I would love to be in the movie. I said, ‘Okay, come, but I would not pay you, but I would give you the Nigerian right.’”

Socrate disclosed that this was not unusual in the entertainment industry.

According to him, filmmakers cannot afford to pay big actors upfront, as it is common practice to give them equity or distribution shares.

He added that the same system is used in Hollywood, where actors sometimes take a share of profits instead of an upfront fee.

Streaming won’t make you global, that’s a voodoo analysis – Socrate Safo

“To do the distribution in Nigeria and take the money. It happens, Hollywood, it’s done. That’s how people say that actors do get shares. He charges you $150m, and you don’t have it, so he has equity in the movie, so as you are distributing, then he is also getting a percentage in the movie.

“I give him the full right, so he can sell as many as he wants and he can also make losses. One thing about entertainment is that returns are not guaranteed,” he said.

“In entertainment, returns are never guaranteed.” – Filmmaker Socrate Safo, recalling when he gave his movie as equity to a scriptwriter#ShowbizReview pic.twitter.com/mJtE91tEuP

— Hitz 103.9 FM (@Hitz1039FM) August 18, 2025

Meanwhile, watch the trailer for GhanaWeb’s upcoming documentary on teenage girls and how fish is stealing their futures below:

AK/EB

TOR’s passing-out ceremony for security personnel

The Tema Oil Refinery (TOR) has marked a historic milestone with the passing-out ceremony of its newly recruited security personnel, following a two-week intensive training program at the Eastern Naval Command of the Ghana Armed Forces in Tema.

As TOR prepares to resume operations in October, every facet of the organisation is undergoing a comprehensive reset to position Ghana’s premier refinery for optimal performance.

The training, the first of its kind in TOR’s history, was designed to equip the recruits, comprising gallant men and one woman, with essential skills to safeguard refinery operations. Modules covered included physical drills for discipline and teamwork, emergency response, security awareness, first aid, firefighting, and crisis management.

The colourful ceremony, held at the Command’s forecourt, featured a parade and the presentation of certificates to the successful trainees. Staff and management of TOR, together with senior officials from the Eastern Naval Command, graced the occasion.

On behalf of the Managing Director, Edmond Kombat Esq., TOR expressed profound appreciation to the Eastern Naval Command for their invaluable support, noting the importance of continued collaboration as neighbours in Tema.

Established in 1963 by Ghana’s first President, Dr Kwame Nkrumah, TOR remains the nation’s foremost refinery. Once operational, it is projected to meet approximately 60% of Ghana’s daily finished petroleum product needs, underscoring its strategic importance to national energy security and economic resilience.

Stakeholders captured at the launch of the Ghana Green Cooling Project

The Acting Chief Executive of the Environmental Protection Agency (EPA), Professor Eunice Biritwum, has disclosed that the split air conditioner (AC) sub-sector alone accounts for about 80% of Ghana’s greenhouse gas emissions.

According to her, these emissions stem from the leakage of high global warming potential refrigerants and the high electricity consumption associated with conventional AC units.

Speaking at the launch of the Ghana Green Cooling Project on Monday, August 18, 2025, in partnership with GIZ, Professor Biritwum described the air conditioning sector as a major driver of Ghana’s greenhouse gas emissions, calling for an urgent shift to low-carbon cooling technologies.

John Jinapor inaugurates Energy Commission board

“The air conditioning sector is a substantial contributor to Ghana’s current and future greenhouse gas emissions, primarily through the leakage of high global warming potential refrigerants and the considerable electricity consumption of these units. Indeed, the split AC sub-sector alone accounts for approximately 80% of our national greenhouse gas emissions. This is precisely why the Ghana Green Cooling Project is not just timely but absolutely critical,” she stated.

She added that the agency is on course to transition Ghana’s air conditioning sector toward low-carbon cooling, helping to reduce emissions and prevent harmful environmental impacts.

“We aim to achieve this by accelerating the adoption of highly energy-efficient and climate-friendly green split ACs that utilize ultra-low global warming potential natural refrigerants, especially R-219. This transition presents a monumental opportunity to significantly reduce our emissions and prevent the lock-in of harmful environmental impacts for decades to come,” she added.

Foreign equity holdings surge to GH¢33.6 billion as debt investments drop

Ghana targets low-carbon transition in cooling sector

The Sustainable Energy and Cluster Coordinator at GIZ, Gunnar Wegner, also noted that Ghana’s refrigeration and air conditioning sector contributes both directly and indirectly to the country’s emissions.

He explained that this has prompted the need for a shift in Ghana’s approach to accelerating carbon reduction. He further announced that the project aims to oversee the installation of 150,000 green split ACs by 2030 to help cut greenhouse gas emissions.

“The programme will hopefully lead to the installation of 150,000 green split ACs by 2030, which would result in significant direct and indirect emission reductions. We are still awaiting final project authorisation from the governments of Switzerland and Ghana, and we would like to thank the Click Foundation for enabling us to incentivize 5,000 ACs in Ghana prior to receiving final project approval,” he said.

SP/MA

‘Last Wave’: Defence Press Corps captures Dr Omane Boamah’s final assignment

Ghana is on the cusp of a regulatory overhaul that could place it among Africa’s most forward-looking economies when it comes to digital assets. With the central bank expected to present a crypto licensing framework to parliament in September 2025, the next few weeks will be pivotal not just for Ghana’s fintech future, but for the broader West African region.

The urgency is well placed. According to Chainalysis data, Ghana recorded over $3 billion in crypto activity between July 2023 and June 2024, a staggering figure that underlines both the appetite for digital assets and the risks of operating without a clear legal framework. A robust, well-balanced policy could transform this informal momentum into sustainable economic value in the country, expanding access to capital, improving financial inclusion, and generating new revenue streams for the state.

If passed in, the framework would permit only registered exchanges and wallet providers to operate legally, subject to capital thresholds and anti-money laundering requirements, keeping Ghana off the FATF grey list. It’s a commendable step toward consumer protection and financial stability. However, the usual concerns are beginning to surface, particularly around the enforcement capacity, the ability of local startups to meet stringent licensing conditions, and the risk that an overly rigid approach could push innovation underground. How Licensing Passporting for virtual asset service providers who already have licences in recognised jurisdictions is also yet to be seen, as such a provision is a catalytic game-changer for the African continent.

The current draft is said to offer clarity on how supervision will be carried out and how smaller players and new businesses can be supported. This will be covered by a sandbox model licence, which has been introduced to avoid a divide between large, well-capitalised firms and grassroots fintech innovators. This would also encourage incubation for local stablecoin issuers, which Binance has encouraged local stablecoins to build on its BNB Chain. Larry Cooke, Africa’s Head of Legal at  Binance, says “Ghana has an opportunity to showcase to the world and the continent what robust and fair legislation looks like that is supported by stable infrastructure, innovative solutioning, and role modelled leadership”.

There’s precedent to learn from. Global exchanges like Binance have voluntarily implemented Know-Your-Customer (KYC) protocols, user education initiatives, and fraud prevention tools across several African markets. In Kenya, Binance has actively engaged with regulators and the local Virtual Assets Chamber of Commerce during the drafting of the Virtual Asset Service Providers Bill, supporting efforts to improve user protection and financial education. The question now is whether Ghana’s framework will foster similar cooperation or risk deterring it.

This push toward regulation comes amid increased dialogue between the public and private sectors. In recent months, the Bank of Ghana and various stakeholders have held consultations on draft proposals, including a licensing regime for virtual asset service providers. These engagements are widely seen as crucial to shaping legislation that balances investor protection with the need to encourage innovation and enable cross-border trade.

With the central bank expected to present the framework to Parliament in September, sustained collaboration between regulators and industry players will be critical to getting it right.

The opportunity is clear: digital assets can be a powerful lever for economic transformation. Now it’s up to policymakers to match the momentum on the ground, without losing sight of the local realities that could make or break the success of this bold regulatory shift.

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Kwame Asare Mensah is an independent journalist and policy analyst covering digital assets, regulation, and financial inclusion across West Africa. He writes on how innovation and regulation can work together to drive inclusive growth.

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.

A photo of John Jinapor (middle) and members of the Energy Commission board

The Minister of Energy and Green Transition, John Abdulai Jinapor, has officially inaugurated the newly reconstituted Board of the Energy Commission.

Highlighting the Commission’s vital role in Ghana’s energy sector, the minister stated that it serves as the principal advisor to the government on power-related issues.

John Jinapor noted that the decisions made by the board will be crucial in building on the Commission’s progress, tackling current challenges, and seizing emerging opportunities within the power sector.

“Ghana is at a pivotal stage, private sector participation in the electricity distribution value chain, the green transition agenda, gas as a transition fuel, implementation of the liquid fuel-to-gas swap, competitive procurement of new generation capacity, standardisation of PPAs, and attracting investment for resilient infrastructure. The Commission is the principal advisor to government on power issues,” he stated.

Jinapor urged board members to be bold, innovative, transparent, and to uphold good governance throughout their tenure.

Responding to the minister’s remarks, Professor John Gatsi, Chairman of the Energy Commission Board, expressed gratitude to President John Dramani Mahama for the appointment.

He assured the Minister of the board’s commitment to work diligently and align with the government’s key energy priorities.

Members of the Board are:

Professor John Gartchie Gatsi – Chairman

Ing. Mrs. Eunice A. Biritwum – Acting Executive Secretary

Dr Audrey Smock Amoah – Member

Danny Adzei Anang – Member

Yorm Ama Abledu – Member

Professor Dr Ernest Ofori Asamoah – Member

Naser Mahama Toure – Member