Ghana’s local currency, the cedi, has depreciated against major trading currencies on the interbank market, particularly the US dollar.

In its daily update, the Bank of Ghana noted that the cedi is trading at a buying price of GH¢10.79 and a selling price of GH¢10.80 to the dollar.

The British pound is being bought at GH¢14.62 and sold at GH¢14.63 while the euro is trading at a buying price of GH¢12.58 and a selling price of GH¢12.59.

Checks by GhanaWeb Business on August 15, 2025, at 8:30 AM indicate that the cedi is trading at GH¢11.90 while the pound is selling at GH¢15.90 at some forex bureaus across the country.

Additionally, the euro is trading at GH¢13.90 on the retail market.

BoG moves to reduce credit risk, enhance liquidity

Meanwhile, the Governor of the Bank of Ghana, Dr Johnson Asiama, has noted that the cedi appreciated by 42% in the first six months of 2025.

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

Under the weight of collective grief, Ghana will gather at the Black Star Square today to bid a final, dignified farewell to the remaining six of the eight patriots whose lives were tragically cut short on August 6, 2025 in the military helicopter crash. 

The state funeral, set for 8:00 a.m., represents not just a ceremony, but a national embrace of families shattered by loss and a testament to unity in heartbreak.  

A 90-minute pre-burial service for the six, scheduled to start at 7:30 a.m., will pave the way for relevant rituals towards the burial of the six at the Military Cemetery in Accra, five days after the burials of the Minister of Environment, Science and Technology, Dr Ibrahim Murtala Muhammed, and the  acting Deputy National Security Coordinator, Alhaji Mohammed Muniru Limuna, in accordance with Islamic protocols.

Deputy Chief of Staff in charge of Operations, Stanislav Xoese Dogbe, at a media briefing in Accra yesterday, said the military-led ceremony would be conducted with full respect and adherence to protocols, given the expected large crowds.

He also assured of heavy security deployment to ensure law and order.

Mr Dogbe indicated that the Chief of Staff, Julius Debrah, had directed that all donations from institutions to the government in support of the funeral service should be shared equally among the families of the eight deceased persons.

Traffic protocols

On traffic control, the Director of Research, Education and Training at the Police Motor Traffic and Transport Department, Chief Superintendent Alexander Kwaku Obeng, said key access routes leading to the Independence Square would be managed to prevent congestion.

As a gesture of inclusion, the public was invited to contribute tributes for an official state funeral brochure, with submissions closing last Wednesday at noon.

Thousands of messages, from schoolchildren to traditional leaders, flooded the dedicated email ([email protected]), weaving a tapestry of national gratitude.  

Eight lights extinguished

The victims, whose coffins will be draped in the national colours, represent a cross-section of Ghana’s dedicated public service and military excellence.

Preparations underway at the Black Star Square for the national mourning programme

They include Dr Edward Omane Boamah, a physician-turned-statesman driving military modernisation; Dr Ibrahim Murtala Muhammed, a fierce advocate against illegal mining en route to an anti-galamsey mission when disaster struck; and Alhaji Mohammed Muniru Limuna, a quiet strategist revered for crisis management.

Samuel Sarpong, a former Ashanti Regional Minister and a Vice-Chairman of the governing party, was known for bridge-building, and Samuel Aboagye, a parliamentary candidate in the 2024 elections and a Deputy Coordinator of the National Disaster Management Organisation, praised for grassroots pragmatism, are among the martyred.  

Squadron Leader Peter Bafemi Anala, Flying Officer Manaen Twum Ampadu, the co-pilot, and Sergeant Ernest Addo-Mensah were the Air Force crew whose vigilance safeguarded countless missions. 

Journey interrupted

The Harbin Z-9EH helicopter departed Kotoka International Airport at 9:12 a.m. on August 6, bound for Obuasi where the delegation was to represent President Mahama at an anti-illegal mining forum.

Rows of chairs for dignitaries and invited guests

Minutes later, it vanished from radar before crashing into the forested hills of Adansi Akrofuom.

A post-impact fire left the victims unrecognisable, necessitating DNA analysis in South Africa for identification, a grim detail underscoring the tragedy’s brutality.  

Ghana’s three days of national mourning saw flags fly at half-mast and books of condolence opened at ministries, military facilities and the NDC headquarters.

The global community, including the UN, African Union, UK, Germany, and Pope Leo, expressed solidarity, reflecting the victims’ international stature.  

Muslim burial rites for Dr Murtala Muhammed and Alhaji Limuna were conducted last Sunday at Accra’s Military Cemetery, led by the National Chief Imam, Sheikh Osmanu Nuhu Sharubutu.

Their early burial, in accordance with Islamic tradition, deepened the week’s emotional gravity.  

As families seek closure, President John Dramani Mahama confirmed that a transparent military investigation was underway, with the recovered flight recorder, commonly called black box, pivotal to understanding the crash.

 The African Wom­en Leaders Network (AWLN) Ghana Chapter, has expressed worry about the devastating impact of illegal mining (galamsey) and called for its immediate end, describing it as a menace the country has “no reason to continue.”

The network emphasised that the practice had caused exten­sive environmental destruction, ruined livelihoods, and led to needless loss of lives, including children born with deformities due to polluted water and women risking their lives in unsafe min­ing conditions.

The call was made yesterday in Accra when the group laid a wreath in honour of the eight victims of the August 6, military helicopter crash in the Adansi area of the Ashanti Region.

The tragedy claimed the lives of prominent Ghanaians, including Defence Minister Dr Edward Omane Boamah; Min­ister for Environment, Science, Technology and Innovation, Ibrahim Murtala Muhammed; Acting Deputy National Security Coordinator Limuna Mohammed Muniru; Vice-Chairman of the National Democratic Congress (NDC), Samuel Sarpong; former parliamentary candidate Samuel Aboagye; and three Ghana Air Force crew members Squadron Leader Peter Bafemi Anala, Flying Officer Manaen Twum Ampadu, and Sergeant Ernest Addo Mensah.

Speaking on behalf of the network, AWLN Ghana Chapter Chairperson, Dr Charity Binka, indicated that, “We have come to honour the departed for the sacrifice they made. Their blood should speak loudly that enough is enough. This illegal mining in our country must stop. We have no reason to continue.”

“AWLN mourns with Presi­dent John Dramani Mahama, the bereaved families, and the people of Ghana,” she added.

The AWLN, which works to amplify the voices of women leaders in promoting peace, development, and human rights across Africa, said the loss of such distinguished national figures was a stark reminder of the urgent need to act against galamsey.

The Resource Mobilisation Chairperson of AWLN Ghana Chapter, Hajia Hamdatu Ibra­him Hussain, also mentioned that women and children suffer the most during national trag­edies and welcomed President Mahama’s announcement of an endowment fund to support the children left behind.

“It is heartbreaking that a child will grow up only to be told that their father died in a plane crash. We mourn with the President, the nation, and especially the women who are now widows with young children,” she under­lined.

Naa of Dagbon Kingdom, Naa Hajia Sawuratu Alhassan Tim-Tooni, also a member of the network, offered prayers for the departed, asking Allah to grant them peaceful rest in Jannah and to console the widows and families.

“Once a widow, I know God is always with widows,” she menioned.

The African Women Lead­ers Network Ghana Chapter reaffirmed its commitment to championing women’s voices in national issues and pledged to continue advocating for the eradication of illegal mining in Ghana.

 BY STEPHANIE BIRIKO­RANG

The World Bank says Ghana’s rapidly growing youth population has the potential to significantly boost the country’s economy, but only if sufficient job opportunities are created.

In its 9th Economic Update for Ghana, titled Addressing Labour Market Challenges and Opportunities in Ghana’s Economic Landscape, the Bank projects a sharp increase in the number of working-age individuals over the next decade.

If these young people can secure quality employment, Ghana could reap substantial economic benefits.

However, without adequate job creation, this demographic advantage could be lost.

The report emphasizes the need to support youth in transitioning from education to employment by equipping them with relevant skills.

“A key focus should be on youth and their transition from school to work, ensuring they have the skills needed for a modern economy to provide strong employment opportunities – essential for realizing the demographic dividend,” the report stated.

Interbank Market: Cedi drops further to GH¢10.80 against the dollar on August 15

It also highlights the importance of enabling workers to move into higher-paying sectors, particularly agriculture and agro-processing, which hold promise for job creation.

Ghana’s economy grew by 5.7% in 2024 and 5.3% in early 2025, but challenges such as high inflation, elevated interest rates, and fiscal constraints persist.

To unlock the potential of its youth, the World Bank recommends that Ghana improve the business environment, address infrastructure gaps, invest in education and skills development, and promote private sector investment in high-employment industries.

Failure to act, the report warns, could mean missing a critical opportunity to harness the power of Ghana’s youth for long-term economic transformation.

DR/SA

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Government has allocated GH¢100million this year to strengthen the National Food Buffer Stock Company (NAFCO) and safeguard the country’s food reserves against potential emergencies.

The allocation, contained in the Food and Agriculture Ministry Medium-Term Expenditure Framework 2025-2028, indicates the amount will be used to strengthen the country’s food buffers to improve food security.

More importantly, the document explained that this allocation is intended to enable NAFCO purchase and store food – ensuring availability of essential commodities during emergencies and market disruptions.

The allocation underscores government’s commitment to food security and its recognition of NAFCO’s pivotal role in stabilising prices and preventing shortages.

The agriculture ministry said it forms part of wider measures to modernise agriculture, promote agribusiness, curb food inflation and strengthen national food security.

Last year, NAFCO faced a major test of its capacity to maintain strategic food reserves, mitigate the impact of disasters and emergencies and address potential shortages, as the country had to rely on external aid from the Economic Community of West African States (ECOWAS) to secure grains for domestic consumption.

In September, Ghana received 500 metric tonnes of cereals from the ECOWAS Regional Food Security Reserve. The donation formed part of ECOWAS’s efforts to assist countries grappling with food insecurity arising from drought and other challenges.

The consignment included maize, rice, millet and sorghum, distributed as food grants to eight regions affected by prolonged dry spells.

However, agriculture stakeholders have said the recent events underscored the country’s need to maintain adequate food reserves.

Sector minister Eric Opoku described last year’s situation as less than ideal when he inaugurated a nine-member board for the National Food Buffer Stock Company (NAFCO) in June this year.

“This situation exposed the fragility of our food security system. Going forward, we want a new narrative. In times of crisis, the buffer stock stores should be able to say: “We have 10,000 or 20,000 tonnes of maize, rice or soybeans ready to stabilise the market,” he said.

Opoku stressed that the company must be proactive in intervening by purchasing surplus food during harvest seasons, storing it to maintain price stability and releasing it during lean periods and emergencies to curb price hikes on the open market.

He added that part of the funds allocated will be used to support buffer stock operations, enabling the company to procure and store food in anticipation of future shocks.

Accra, Aug 15, GNA – Thousands of mourners have arrived at the Independence Square in Accra for the state funeral for the eight victims of the helicopter crash on August 6, including two ministers.

Black Star Square, Accra 9:00AM

President Mahama arrives at the Black Star Square for the State Funeral for the eight (8) victims of the August 6 military helicopter crash.

“Sergeant Mensah Addo-Ernest was a highly skilled aircraft technician whose professional competence directly impacted the operational availability and safety of the Z-9 fleets in Takoradi. Enlisted in 2021 and certified as an aircraft technician in 2016, Sergeant Menster possessed exceptional diagnostic and maintenance skills, ensuring adherence to the highest engineering and airworthiness standards.

“Beyond his technical excellence, he was an effective mentor, particularly encouraging aerial technicians to develop their expertise and resilience in the demanding field of aviation maintenance.”

—Tribute from the Ghana Armed Forces to Sergeant Ernest Addo

“Your presence was a gift to all who knew you.”

“Your legacy will continue to live on through all the countless lives you touched.”

—Tribute by family of F/O Manaen Twum Ampadu

“You were truly a family man; a definition of a genuine person with a heart of gold.”

“Kofi B, thanks for loving me, the children, and my family.”

“When we started having children, you were nothing short of a wonderful father. You were a great source of hope to me and the children. Despite your busy schedule as a medical doctor, and later in your political career, you either bathed the children every morning or dressed them up while [they] bathed them.”

—Tribute by wife of Dr Edward Kofi Omane Boamah

“Squadron leader Peter Baafemi-Anala was a country-based aviation professional whose distinguished career was defined by exceptional piloting skills, aviation technical knowledge, and an unwavering commitment to flight safety. After commissioning in 2014, he earned multiple qualifications, including private and commercial aircraft licences, an instrument rating, and postgraduate specialisations in air transportation, safety, and accident investigation.

“As a mentor and trainer, he shaped the confidence and discipline of Ghana Air Forces, reinforcing the operational readiness of the Ghana Armed Forces”. –

— Excerpt from the tribute by the Ghana Armed Forces

“Flight Lieutenant Manean Twum Ampadu, was an emerging operational talent whose precision, quick adaptability, and mission readiness distinguished him from the outset. Commissioning into the operations branch of the Ghana Air Force in 2021, after military training in the United Kingdom, he consistently demonstrated high technical proficiency in flight operations and crew member duties.”

— Excerpt from the tribute by the Ghana Armed Forces

On board the Z-9 helicopter were Dr Edward Kofi Omane Boamah, Minister of Defence; and Alhaji Dr Murtala Mohammed, Member of Parliament for Tamale Central and Minister of Environment, Science, and Technology.

Others were Alhaji Muniru Mohammed Limuna, Acting Deputy National Security Coordinator; Samuel Sarpong, Vice Chairman of the National Democratic Congress; and Samuel Aboagye, Deputy Director-General of National Disaster Management Organisation (NADMO).

The rest are Squadron Leader Peter Anala of the Ghana Air Force, Flying Officer Twum Ampadu of the Ghana Air Force, and Sergeant Ernest Addo of the Ghana Air Force.

They were on their way to Obuasi for a national assignment on illegal mining, also known as galamsey, an existential threat to Ghana, when the aircraft crashed at Sikaman in the Adansi District in the Ashanti Region.

GNA

The Chamber of Oil Marketing Companies (COMAC) has announced that fuel prices are expected to increase during the second pricing window of August 2025.

In a statement sighted by GhanaWeb Business, COMAC estimated that petrol prices at the pumps will rise between 0.39% and 2.71%, while LPG is projected to increase by 0.15% to 2.34%.

In contrast, diesel prices are expected to decline by 0.21% to 0.72% starting August 16.

The changes are attributed to fluctuations in global petroleum prices, a slight depreciation of the cedi against the US dollar, and varying supply and demand levels for each product.

COMAC explained that global diesel prices fell sharply by 5.22%, following a modest drop in crude oil prices. Meanwhile, petrol and LPG recorded increases of 1.89% and 2.87%, respectively.

Interbank Market: Cedi drops further to GH¢10.80 against the dollar on August 15

For the first pricing window in August, based on average exchange rates from July 27 to August 12, the cedi weakened from GH¢10.68 to GH¢10.77 per dollar, representing a 0.87% depreciation.

This added slight upward pressure to import costs.

On the international market, Brent crude dropped marginally by 0.23%, moving from $70.42 to $70.26 per barrel.

The decline was influenced by increased production from both OPEC+ and non-OPEC countries, softer sentiment in the futures market, and reduced speculative activity.

COMAC noted that the anticipated pump prices are largely in line with current global market trends, with only minimal increases expected for petrol and LPG in the upcoming pricing window.

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DR/SA

Assembly Member for the Asukawkaw Electoral Area, Mark Oduro, has called for urgent road safety interventions in the community following a string of fatal accidents.

Speaking in an interview with Umaru Sanda Amadu, on Eyewitness News on Citi FM, Oduro described the area as an accident hotspot, particularly around a nearby bridge.

Oduro appealed to the Minister for Roads and Highways, the Municipal Chief Executive, and the Ghana Highways Authority to visit the community and assess the situation.

He suggested measures such as installing signposts, speed ramps, and accident guards to reduce the frequency of crashes.

“This place has been an accident spot, very rampant accident. The bridge is one of the factors of the accident; anytime it rains, there’s an accident.

He added, “I’m appealing to the minister, MCE, and Highways Authority to come down and look at the situation and see how we can resolve it. Whether we need to get signposts, speed ramps, and accident guards. We are dying, we are suffering, the tragedy is too huge.”

His comments follow the death of four people, including three women and a one-year-old girl, who 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.

….

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