President John Dramani Mahama has committed to a “ruthless and relentless campaign” to end illegal mining, known as ‘galamsey’, to end the menace that has resulted in significant losses.

The pledge follows the tragic military helicopter crash on August 6 that killed eight people, including two cabinet ministers who were at the forefront of the anti-galamsey fight.

Minister of Foreign Affairs Samuel Okudzeto Ablakwa revealed the President’s new resolve to JoyNews journalist Blessed Sogah today (August 14), after signing a book of condolences for the victims.

The minister’s remarks signal a major shift in the government’s approach, which many view as a decisive response to a crisis that has spiralled into a national tragedy.

“I can confirm to you that you are going to see a fight that has never been witnessed in this country,” Ablakwa stated. “President Mahama is going to lead a very ruthless and relentless campaign against Galamsey. He has not minced words at all.”

Mr Ablakwa’s comments shed light on an urgent mini-cabinet meeting held earlier in the day, where the President reportedly made his intentions clear.

“We had a brief cabinet meeting earlier today, and the president was very clear. There was no ambiguity that he would be leading a war that we have never seen to deal with this existential threat once and for all,” the minister added.

The late Defence Minister Edward Omane Boamah and Environment Minister Ibrahim Murtala Muhammed, along with six other public servants, died while on a mission to launch a community mining scheme, a key initiative to bring some illegal miners into a regulated framework.

Their deaths have galvanised the government to take a more aggressive stance.

The new campaign comes amid alarming data on the severe environmental and economic toll of illegal mining.

According to recent reports, over 19,000 hectares of cocoa farmland, a pillar of Ghana’s economy, have been destroyed by galamsey.

The use of toxic chemicals like mercury and cyanide has polluted more than 60% of Ghana’s major water bodies, including the Pra and Ankobra rivers, raising fears that the nation may have to import water by 2030.

Past efforts by successive governments, including Operation Vanguard and Operation Halt, have often been met with limited success.

This new “ruthless” approach is expected to be a more comprehensive and sustained effort, targeting not just the miners but the powerful sponsors behind them.

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.

President John Mahama’s government has banned foreign currency in all state contracts, enforcing a long-dormant 2006 law to stabilize the embattled cedi.

The directive, effective immediately, requires even externally funded projects to use Ghana’s local currency a move experts call overdue but fraught with enforcement challenges.

Finance Minister Cassiel Ato Forson detailed the policy in the mid-year budget review, targeting what economist Professor Godfred Bokpin labels “fiscally suicidal” dollarization. Between 2020 and 2024, the cedi plunged 135% against the dollar, while foreign reserves shrunk by 40%. “Pricing contracts in dollars created artificial demand that bled our economy,” argued former central bank researcher Dr. Nii Kwaku Sowa.

The shift aims to curb inflation, boost local contractors, and restore monetary control. Bank of Ghana could now maneuver interest rates more effectively without state-induced forex pressure. Veteran economist Kwame Pianim welcomed the symbolism: “If government doesn’t believe in the cedi, who should?”

Nigeria’s 2021 similar ban temporarily stabilized the naira and saved $2 billion in outflows. Yet IMANI Africa analyst Dr. Esi Yankah warns: “This can’t be another paper tiger. Enforcement must bite.” Past laxity rendered the 2006 Foreign Exchange Act irrelevant.

For Ghana’s businesses, stability could lower borrowing costs and spur investment. But success hinges on rigid compliance across ministries and opposition backing for what President Mahama frames as economic sovereignty’s frontline.

President John Dramani Mahama has requested American experts to help study and analyse the black box retrieved from the military helicopter crash that claimed eight lives last week, the Minister of Foreign Affairs, Samuel Okudzeto Ablakwa, has said.

The Minister confirmed that the government had formally written to the Americans to come and assist with the investigation as independent officers, to avoid any suspicion.

According to the Minister, the American experts would soon arrive in the country, having already received the government’s letter and responded.

“I can confirm to you that, on the instruction of His Excellency President John Dramani Mahama, we have formally requested the Americans to come in and assist.

“We all know that they have considerable expertise when it comes to these matters. So, the indication we have received from the Americans is that they are very much willing to assist. The Americans have responded, and we are expecting the arrival of American experts soon to help us with the investigations,” he said.

He emphasised that the government believed bringing in independent experts would ensure the outcome of the investigations was acceptable to all and inspire confidence in the process.

Mr Ablakwa added that nobody had anything to hide, stressing that it was important the process was carried out thoroughly and met international gold standards and best practice.

Contact with Chinese manufacturers

The Minister said the government had also made contact with the Chinese manufacturers, who are on standby to assist with the investigation.

“I can confirm to you that the Chinese have already been contacted and the manufacturers are standing by. Indeed, the briefing we have received from the Chief of Defence Staff (CDS) is that there is a standing protocol where the black box must be, as it were, made available to the manufacturer — in this case, the manufacturers of the Z9 helicopter.

“So, they are standing by. But, in the President’s wisdom, he does not want anything to proceed without independent experts. I think that it is quite fair so that we will just avoid all doubts, so that people will not raise issues of probably conflict of interest — maybe people with some kind of special interest trying to cover up and all of that,” he stated.

The Minister said the President’s decision was commendable, as the Americans were far removed from the process and could provide the independent expertise required.

He also expressed gratitude to American partners for agreeing to assist the government.

Transparency

The Minister said the President wanted utmost transparency and assured that Ghanaians would be kept informed at every stage of the investigation.

“At all steps of the way — when these experts arrive, when the investigations commence, when the investigations progress, when the investigations conclude — every stage of the way the Ghanaian people should know about what is happening,” he said.

He assured the public that the government would not conceal any development related to the investigation.

“I have had some civil society organisations and some other analysts raise concern about, if you like, lack of information about the investigative processes. It is just because it hasn’t commenced.

“We are waiting for the experts before these investigations are done. That is why you probably have not been getting regular updates on the investigation — of course, taking into account national security considerations,” he said.

He emphasised that most of the heroes who died represented good governance, which required transparency, accountability, and a strong commitment to truth.

Mr Ablakwa said it was in the country’s interest to honour the crash victims “by making sure that even as they are no longer with us, these ideals which they have always represented, which they stand for, must continue to be espoused and actually advanced in a very concrete manner”.

Ghana’s state-owned enterprises risk derailing national finances, the World Bank warns.

Without urgent reform, the Electricity Company of Ghana (ECG) will face a $2.2 billion funding gap by late 2025. This shortfall could spiral to $9 billion by 2026.

Robert Taliercio, World Bank Country Director for Ghana, Sierra Leone, and Liberia, sounded the alarm at the Ghana Economic Update launch. ECG struggles with tariffs failing to cover costs, distribution losses, and mounting forex pressures. Despite the government’s Energy Sector Recovery Program, ECG added new debts to power producers in 2024.

“Every year, the government must provide significant financial support,” Taliercio noted. The crisis extends beyond energy. Ghana Cocoa Board (COCOBOD) faces instability despite high global cocoa prices. Weak production, supplier debts, and costly non-core activities deepen fiscal risks.

Taliercio urged stronger oversight to prevent these SOEs from crowding out critical infrastructure and social spending. Without action, he warned, Ghana’s economic stability hangs in the balance.

Four people, including three women and a one-year-old girl, lost their lives on Thursday afternoon when a fuel tanker ploughed into traders and shoppers at the Asukawkaw market in the Krachi East Municipality of the Oti Region.

According to eyewitness accounts, the tragedy occurred after the driver reportedly lost control of the vehicle, ramming into the busy market and causing chaos. Fourteen others sustained varying degrees of injuries.

Assembly Member for the Asukawkaw Electoral Area, Mark Oduro, described the incident as a “dark day” for the community, adding that the victims were engaged in their regular market activities when disaster struck.

“The injured have been rushed to nearby health facilities for treatment, while the bodies of the deceased have been deposited at the Worawora Government Hospital morgue,” Mr. Oduro told Citi News. He appealed for the installation of speed ramps on the road to prevent similar accidents in the future.

Police in the Katanga District have arrested the driver to assist with investigations into the cause of the crash.

Ghana’s fixed income market saw concentrated activity in state-backed corporate paper on Wednesday, with a single Ghana Cocoa Board bond drawing 77.7 million cedis in trades.

The 2028-maturity debt instrument overshadowed sovereign trading as investors navigated fiscal headwinds flagged hours earlier by the World Bank.

You’d find the Cocoa Board’s 13% note maturing August 2028 accounting for nearly half of all corporate bond volumes, settling at 76.92 cedis on the dollar. The trade came alongside smaller movements in Bayport Savings and Letshego Ghana securities. Sovereign activity centered on short-dated paper, including 200,662 cedis of an 18.3% government bond due March 2026 and 15,000 cedis in 182-day treasury bills.

The liquidity surge arrives as Ghana balances World Bank praise for 5.3% first-quarter growth against warnings of slowing momentum. Robert Taliercio’s morning call for “non-negotiable fiscal discipline” appeared to resonate in pricing—three actively traded government bonds saw yields between 15.52% and 16.74%, reflecting persistent inflation concerns.

Market watchers note the Cocoa Board’s prominence underscores investor focus on export-reliant issuers amid volatile commodity prices. With treasury bill volumes exceeding 54 million cedis across 91-day to 364-day tenors, the appetite for shorter-term government debt remains robust despite fiscal uncertainties.

Fixing cross-border research and innovation collaborations can unlock enormous opportunities

Chief Executive Officer of the research and innovation firm Heritors Labs, Derrydean Dadzie, has urged African governments to empower state research and innovation promotion institutions to develop intellectual properties that can be transferred to businesses with the requisite entrepreneurial expertise and financial capacity to commercialise.

He added that this should not restrict access for small and medium-sized enterprises (SMEs).

He stated that this approach could address the apparent stagnation of viable and scalable innovations and research solutions confined to laboratories, entrench cross-border trade, and broadly strengthen the continent’s contribution to the global innovation ecosystem.

“Fixing cross-border research and innovation collaborations can unlock enormous opportunities for intra-Africa trade, make discussions around innovation commercialisation more fluid, and ultimately impact the socio-economic development of the continent and its people,” he emphasised.

Opening an ARICS Cross Border Webinar Series on the theme “Moving Innovation Beyond Islands: Building Cross-Border Markets that Integrate Africa’s Research and Industrial Ecosystems”, he lamented the widespread disconnect between research hubs, investors and the business community across Africa.

“We’re more powerful if we’re able to collaborate and jointly co-create and solve our problems, including harmonising funds, expertise and resources in a more targeted approach towards the upscaling of African innovations and research outcomes,” he added.

It is estimated that around 90 percent of Africa’s small and medium-sized businesses are disconnected from the research and innovation ecosystem. This means industries with the capacity to commercialise researched solutions into tangible products are not directly linked to such inventions.

Chief Executive Officer of South Africa’s Council for Scientific and Industrial Research, Dr Thulani Dlamini, supporting the argument, stated that linking innovation hubs to industry would enable viable businesses, particularly SMEs, to tap into the support and infrastructure of research institutions to improve their access to markets.

However, he noted that the lag in the commercialisation of innovation across borders goes beyond securing intellectual property rights for businesses.

He cited the absorptive capacity of SMEs, the nature of the technology being transferred and the mechanisms through which such transfers could occur as other limiting factors.

“Access to capital remains the major challenge. With the necessary funding, small and medium-sized enterprises can acquire intellectual properties or innovations from research institutions and commercialise them. That is how we can realise economic dividends such as job creation and increased commercialisation of innovation and research outcomes,” he said.

The post-ARICS webinar signalled the need for building systems and innovation policies that facilitate cross-border trade, in line with recommendations from the second edition of the Africa Research and Innovation Commercialisation Summit, held earlier this year in Accra.

Other speakers, including Ian Korongo, who leads Innovation and Commercialisation at the Kenya National Innovation Agency (KeNIA), and Dr George Acheampong, Coordinator for the Innovation and Incubation Hub at the University of Ghana Business School, unanimously called for broader high-level engagements to deepen the cross-border transfer of commercially feasible innovations.

“Policy frameworks exist in almost every country, but implementation has been lagging. This requires sustained collaboration at national and political levels,” Korongo noted.

Another concern, according to Dr Acheampong, relates to the distribution of intellectual property rights in most IP mutual recognition agreements. He highlighted the need for innovation co-creation.

“A laboratory that facilitates co-sharing could significantly advance the commercialisation of research and innovation outcomes across borders,” he added.

Chief Executive Officer of the Ghana Investment Promotion Centre (GIPC), Simon Madjie, has urged diplomatic missions and Development Finance Institutions (DFIs) to actively promote Ghana’s investment prospects across global markets, investors, and networks.

Simon Madjie believes their commitment to championing government initiatives within their respective countries will significantly deepen cross-border collaborations.

He made the appeal during an engagement with the diplomatic community on the centre’s flagship Investment Opportunity Mapping Project (IOMP), which aims to identify and promote viable investments across the country.

Developed in collaboration with the Ministry of Trade and Industry, the Ministry of Food and Agriculture, and the Ghana Export Promotion Authority (GEPA), the project seeks to address the uneven distribution of investments in Ghana, with 80 percent currently concentrated in the Greater Accra Region.

According to the GIPC boss, the IOMP will highlight untapped opportunities in all 261 districts, attracting investments to previously neglected areas with strong potential. He stressed that the collective advocacy of diplomatic missions, DFIs, and international cooperation agencies could boost targeted Foreign Direct Investment (FDI) and promote bilateral economic cooperation.

“The IOMP is not simply about attracting more investments; it is about balancing growth, reducing regional disparities, creating jobs, expanding exports, and building a diversified, resilient economy,” Madjie said.

He also revealed that the Centre is working around the clock to reform the GIPC Act to enhance investor protection and improve the ease of doing business in Ghana.

Deputy CEO of the GIPC, Abdul Razak Baba, also joined the call, imploring diplomatic missions to become ‘vocal ambassadors’ for Ghana’s district-level investment potential, share information extensively, and connect investors to key platforms such as the Ghana International Investment Summit (GIIS) slated for 2026.

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.

GIPC CEO in a photo with the diplomatic missions

The Chief Executive Officer of the Ghana Investment Promotion Centre (GIPC), Simon Madjie, has called on diplomatic missions and Development Finance Institutions (DFIs) to actively promote Ghana’s investment opportunities across global markets, investors, and networks.

According to him, their commitment to championing government initiatives within their respective countries will significantly deepen cross-border collaborations.

Absa Bank beats 22 others with lowest lending rates for small businesses in Ghana

Madjie made the appeal during an engagement with the diplomatic community on the Centre’s flagship Investment Opportunity Mapping Project (IOMP), aimed at identifying and promoting viable investments across the country.

The project, developed in collaboration with the Ministry of Trade, Industry and Agribusiness, and the Ghana Export Promotion Authority (GEPA), seeks to address the challenge of unequal distribution of investment across Ghana, with 80% currently concentrated in the Greater Accra Region.

At the event, Madjie stressed that the initiative will spotlight untapped opportunities in all 261 districts, thereby attracting much-needed investments to previously overlooked areas with significant potential.

Register your trademark or risk losing your brand – Attorney warns businesses

He noted that the collective participation and advocacy of diplomatic missions, DFIs, and international cooperation agencies would strengthen efforts to attract targeted Foreign Direct Investment (FDI) and promote bilateral economic cooperation.

“The IOMP is not simply about attracting more investments; it is about balancing growth, reducing regional disparities, creating jobs, expanding exports, and building a diversified, resilient economy,” he said.

Madjie also revealed that the Centre is working around the clock to reform the GIPC Act to enhance investor protection and improve the ease of doing business in Ghana.

Joining the discussions, Abdul Razak Baba, Deputy CEO of the GIPC, encouraged diplomatic missions to become “vocal ambassadors” for Ghana’s district-level investment potential, share the information widely, and connect investors to upcoming platforms such as the Ghana International Investment Summit (GIIS) scheduled for 2026.

“Your technical expertise, resources, and innovative financing solutions will be vital in identifying and transforming district-level opportunities into bankable, high-impact investments,” Razak Baba stated.

He reassured participants that the Centre is committed to working with partners at all stages, from refining investment profiles to co-hosting targeted investor engagements.

Lovi Mehiawo, Deputy Director of Research at the GIPC, took participants through the scope, methodology, and expected outcomes of the IOMP, highlighting strategic sectors and the 16 regions identified for priority investment.

SSD/MA

President John Dramani Mahama will lead a ruthless campaign against illegal mining like never before, the Minister of Foreign Affairs, Samuel Okudzeto Ablakwa, has said.

The Minister disclosed that the President, together with Cabinet Ministers at a cabinet meeting held today (Thursday, August 14, 2025), made an unequivocal call for a tough and uncompromising campaign against the menace.

“I can confirm to you that you are going to see a fight that has never been witnessed in this country. President Mahama is going to lead a very ruthless and relentless campaign against galamsey. He has not minced words at all.

“We had a brief cabinet meeting earlier today, and the President was very clear. There was no ambiguity that he will be leading a war that we have never seen, to deal with this canker, this existential threat once and for all,” Mr Ablakwa said.

Mr Ablakwa spoke to the media after signing a book of condolence at the Ministry of Foreign Affairs (MFA) in Accra to conclude the three-day opening of the book in honour of the eight victims of last week’s military helicopter crash.

Immortalising memories

The Minister said there was a need for the government and Ghanaians to commit to completing the mission the victims were pursuing.

“It is now up to us to finish the mission they were pursuing, a cause that all of us must be committed to; a cause that all of us must be committed to, to help transform and reset this nation.”

He argued that, as a nation, there must be utmost commitment so that the ultimate sacrifice of the victims would not be in vain. He stressed that honouring their memories should mean ensuring the galamsey menace, which has persisted for years, is dealt with once and for all.

Mr Ablakwa also emphasised the importance of immortalising the memories of the departed heroes by safeguarding the environment.

“We must protect our water bodies and keep this country safe for the generations coming after us,” he stated.

Appreciation

The Minister expressed gratitude to world leaders and international partners for standing in solidarity with the government, families, and people of Ghana in mourning their heroes.

“During this memorial, the national mourning, and the opening of this book of condolence, there is hardly any embassy or any international partner accredited to Ghana whose head of mission or representative has not been here.

“All of them have been united with us, grieving and mourning. I want to, on behalf of President John Dramani Mahama, extend our profound gratitude. World leaders have called directly, they have sent messages of condolence, they have extended their commiserations through diverse ways,” he said.

He also thanked staff of the MFA, including the Chief Director, Directors, and particularly the Protocol Department, “who have been working around the clock to ensure a smooth process for dignitaries received in the course of this tragic loss.”

GIHOC CEO Johnes Borteye Applerh lays flowers in honour of the eight victims of the helicopter crash

GIHOC Distilleries Company Limited has expressed its sympathy to the government and people of Ghana over the tragic loss of the eight distinguished citizens who died in the helicopter crash of August 6, 2025.

In a statement issued on August 13, 2025, the management of the company described the eight victims as persons who were not only leaders in their respective fields but also dedicated servants of the Republic.

It indicated their demise is a great loss to their families, colleagues, and the nation at large.

“The board, management, and the entire Staff of GIHOC extend their deepest condolences to the bereaved families, friends, the Government of Ghana, and all citizens affected by this tragedy. We recognise the invaluable contributions these men made to national development and public service, and we honour their commitment, courage, and sacrifice.

“In this difficult time, we stand in solidarity with the nation as we reflect on their legacy and the values they upheld. May their souls rest in perfect peace,” parts of the statement read.

The management and staff of GIHOC, led by its Chief Executive Officer, Johnes Borteye Applerh, on August 13 laid flowers at the Ceremonial Garden in front of the Presidency, the Jubilee House in honour of the deceased.

Borteye Applerh, in a brief remark, offered words of encouragement to President John Dramani Mahama, the immediate family of the eight victims, and Ghanaians in general.

On August 6, 2025, a Ghana Air Force Harbin Z-9 military helicopter crashed into a forested mountainside in the Adansi Akrofuom District, Ashanti Region, killing all eight people on board. The helicopter was en route from Kotoka International Airport in Accra to Obuasi for an event focused on combating illegal mining.

The deceased include Dr. Edward Kofi Omane Boamah, Minister of Defence; Alhaji Dr Ibrahim Murtala Mohammed, Minister for Environment, Science and Technology; Alhaji Muniru Mohammed, Acting Deputy National Security Coordinator; Dr Samuel Sarpong, 1st Vice Chairman of the National Democratic Congress (NDC); Samuel Aboagye, Deputy Director-General of NADMO; Squadron Leader Peter Bafemi Anala, Flying Officer Mane-Twum Ampadu and Sergeant Ernest Addo Mensah 

BAI/GA

Meanwhile, watch the trailer to GhanaWeb’s yet-to-air documentary on teenage girls and how fish is stealing their futures below:

The Presbyterian Church of Ghana has appointed former Kotoko Express Editor, Jerome Otchere, as its new Public Relations Officer (PRO).

He replaces the outgoing Rev. Ebenezer Ahenkan Owusu, who is being sent on mission abroad.

The Clerk of the General Assembly of the PCG, Rev. Dr. Godwin Nii Noi Odonkor, announced this in his report at the Church’s 25th General Assembly at Kwahu-Nkwatia in the Eastern Region.

Mr. Otchere takes up the role with more than 20 years of experience in journalism, public relations, media, and communications practice.

He is a ministerial trainee at the seminary of the Presbyterian Church of Ghana’s Ramseyer Training Centre, Abetifi, and also a PhD Media and Communications student at the University of Media, Arts and Communication (UniMAC) in Accra.

He holds a master’s degree in Organisational Leadership and Governance from the University of Ghana Business School, Legon, Accra, and another master’s degree in Journalism from UniMAC, formerly known as the Ghana Institute of Journalism.

He earned his first degree in Journalism from Jayee University College, Accra (affiliated with the University of Education, Winneba). He is also a member of the Institute of Public Relations (IPR), Ghana.

Besides being a credible sports pundit on major radio and television networks in and outside Ghana, Mr. Otchere worked for the official mouthpiece of Asante Kotoko Sporting Club, the Kotoko Express, for 15 years.

He was also a member of Dreams FC’s communications team and served briefly as the Chief Executive Officer of Kenpong Football Academy.

Mr. Otchere has played, and continues to play, active media, communications, and public relations roles at the Presbyterian Church of Ghana, Covenant Congregation, Dzorwulu, where he worships.

He also serves on subcommittees of the Presbyterian Church of Ghana Cancer Centre and the Kutunse Projects. In addition, he is the sports news anchor on PCGTV.

He is married to a pharmacist, Dr. Josephine Prah Otchere, and they have four children.

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 Minister responsible for Public Sector Reform, Hon. Lydia Lamisi Akanvariba has paid a working visit to the National Identification Authority (NIA) to explore areas of collaboration aimed at improving service delivery, transparency, and accountability in the public sector.

Speaking during the visit, the Minister said the engagement was to gain first-hand knowledge of the NIA’s operations and identify reforms that could be aligned with the government’s public sector strategy. She disclosed plans to finalise a draft framework for a “one-stop shop” service delivery system that would streamline access to public services without taking away the mandates of existing institutions. Similar models, she noted, are already operational in Uganda and Kenya.

She emphasised the importance of robust public relations to inform Ghanaians about NIA’s work and expressed keen interest in expanding student registrations, particularly for children from birth. “If we register people at birth, we can track them until retirement, clean up the system, and create space for the youth to access jobs,” she noted, urging more district offices, staff reorientation, and secure data-sharing with other agencies.

The acting CEO of the National Identification Authority (NIA) is Wisdom Yayra Koku Deku, outlined the Authority’s achievements, including the registration of over 18 million people, the operation of 15 premium centres, and the recent launch of an online registration service. However, he admitted technical challenges had delayed the service’s expansion to other regions, a situation expected to be addressed within two months.

He also raised critical operational concerns, citing underfunding, a $3.4 million monthly debt to private sector partners, and an annual budget of GH₵7.9 million, of which only GH₵1.9 million has been released. He appealed for legislative and policy support, including amendments to LI 211 to allow biometric verification for identity checks, the placement of NIA under the Interior Ministry, and measures to stop staff from joining unions.

The CEO stressed the need for government agencies to fully comply with the mandate requiring the Ghana Card for public services, saying it would help curb payroll fraud, impersonation in social intervention programmes, and the persistence of “ghost names.” He also revealed plans to resume registration for children aged 0–5 and to launch an e-wallet next year to facilitate government payments.

The Minister assured the NIA of her office’s readiness to work closely with them to ensure reforms translate into efficient, secure, and citizen-focused service delivery.

The government’s decision to recapitalise the National Investment Bank (NIB) with GH¢3.4 billion, announced in the 2025 Mid-Year Budget, is a significant step towards restoring the bank’s financial health and placing it as a vital backer of enterprises and economic progress.

This recapitalisation, together with a comprehensive restructuring strategy, represents a significant chance to convert NIB into a long-term, profitable, and effective financial institution.

As a business coach, I see this as a crucial opportunity for NIB to reposition itself as a cornerstone of Ghana’s financial ecosystem, particularly in terms of assisting SMEs. In this article, I will explore how NIB’s recapitalisation can empower Ghanaian businesses and outline practical strategies to ensure the sustainability of this recapitalisation.

How NIB’s recapitalisation can help businesses

Restoration of financial stability and confidence

The GH¢3.4 billion infusion, which included GH¢450 million in cash, GH¢1.5 billion in bonds, and GH¢500 millions of Nestlé Ghana shares, raised NIB’s Capital Adequacy Ratio from a startlingly low 53.13% in 2024 to a robust positive 23% by May 2025.

The public and corporate confidence in the bank’s ability to fulfil its responsibilities has been restored as a result of this turnaround, which indicates financial stability and makes the bank a safer choice for both depositors and borrowers.

Preservation of depositor funds and jobs

The recapitalisation saved GH¢6.4 billion in depositor monies and protected over 900 direct employments at NIB. Maintaining job security and protecting depositors’ savings is critical for economic stability and faith in the financial system.

Increased lending capacity for businesses

A well-capitalised bank can expand its lending capacity, especially targeting industrial development and the manufacturing sector, as NIB’s renewed strategic focus suggests. This is critical for businesses needing access to affordable credit to expand operations, invest in innovation, and create jobs.

Indigenous bank with a national development mandate

As an indigenous financial institution, NIB’s rebirth promotes national interests by directing resources to areas that may be ignored by commercial banks, such as small and medium-sized companies (SMEs) and industries critical to economic transition.

Practical steps to ensure sustainable recapitalisation

Strengthen corporate governance

The restructuring plan’s emphasis on improving board independence and accountability is crucial. The NIB must form a board with varied competence in banking, risk management, and business strategy, free of political involvement.

Regular board evaluations and transparent appointment methods will increase public trust. Furthermore, the bank should create a strong code of ethics to prevent insider lending and conflicts of interest, which have led to its previous financial problems.

Improve risk management frameworks

A bank’s long-term viability depends on effective risk management. NIB should invest in advanced risk assessment tools to evaluate loan applications and track portfolio performance. This involves using data-driven credit rating models to identify creditworthy borrowers and reduce non-performing loans (NPLs), which have previously plagued the bank. Regular stress testing and scenario research might help the NIB anticipate economic shocks like currency devaluation or inflation increases.

Diversify revenue streams

To lessen dependency on interest income, the NIB should diversify its revenue streams. This could entail offering more fee-based services to high-net-worth clients, such as trade financing, foreign exchange, and wealth management. For example, NIB might provide letters of credit to enterprises involved in foreign trade, making fees while promoting export growth. Furthermore, the bank’s decision to float on the Ghana Stock Exchange is a strategic step to increase capital and transparency.

Invest in human capital

A trained and motivated personnel is critical to NIB’s long-term success. The bank should spend in ongoing training for its employees in areas such as digital banking, risk management, and customer service. For example, NIB might collaborate with institutes such as the Chartered Institute of Bankers to provide employee certification programs. In addition, performance-based rewards and an accountability culture will enhance employee morale and productivity.

Engage stakeholders and build trust

Transparency and stakeholder engagement are critical to maintaining public trust in NIB. The bank should issue regular financial reports and hold stakeholder forums to highlight its progress and issues. For example, NIB might organise quarterly town hall meetings with depositors, businesses, and regulators to review its performance and solicit comments.

Conclusion

The recapitalisation of NIB with GH¢3.4 billion and the associated restructuring plan represent a turning point for Ghana’s financial system. The NIB can help firms generate economic growth by boosting lending access, supporting important industries, and modernising operations. However, sustainability requires strong governance, good risk management, and stakeholder involvement.

As a business coach, I advise entrepreneurs and organisations to take advantage of this chance to collaborate with a revitalised NIB, while the bank must remain committed to transparency and innovation to sustain its newfound stability.