Ghana’s cedi has emerged as the world’s strongest-performing currency in 2025, appreciating nearly 50% against the US dollar since the start of the year. Beginning the year at around ₵15 to the dollar, the cedi has climbed steadily to trade just above the ₵10 mark, bolstered by improved investor sentiment and a wave of positive economic developments.

The rally has been underpinned by Ghana’s ongoing recovery from its recent debt default and economic turmoil. Investors have responded positively to the country’s strengthening fundamentals, particularly its performance in gold and oil exports, and its ongoing support from the International Monetary Fund (IMF). On Monday, the cedi opened at GH₵10.21, reflecting a 7% rise from the previous Friday’s close of GH₵10.25.

According to Bloomberg data, no other currency has matched the cedi’s gains this year. The turnaround is striking, considering that in 2022, the cedi was the world’s worst-performing currency, having lost over 55% of its value during a severe inflation crisis and sovereign debt troubles.

Falling inflation has played a critical role in stabilising the cedi, with the rate easing to 21.2% in April. The Bank of Ghana (BoG) has pursued a firm monetary policy stance to support the currency, including a surprise 100-basis point rate hike in March, raising the policy rate to 28%. These moves have been aimed at curbing inflation and attracting foreign investment.

In parallel, the central bank transitioned to spot-market forex auctions, moving away from speculative controls. This shift has enhanced dollar liquidity and curbed dollar hoarding, which had previously disrupted the foreign exchange market.

Ghana’s export earnings have been buoyed by record-high gold prices, which surged from $2,000 per ounce in 2024 to $3,400 in May 2025. The country, now the sixth-largest gold producer globally, saw gold export revenue rise from $7.6 billion in 2023 to $11.6 billion in 2024. The Gold Board’s policy requiring domestic gold purchases to be settled in cedis prior to export also played a vital role, boosting Ghana’s gold reserves from 9 tonnes in late 2023 to 31 tonnes today. Consequently, foreign reserves hit a record $11.4 billion in March 2025.

Oil and non-traditional exports have further supported Ghana’s external position, pushing its trade surplus to a long-term high of $4.3 billion in 2024.

The IMF’s $3 billion bailout, part of a three-year programme, has provided essential financial and technical support, focusing on restoring macroeconomic stability through demand-management reforms. Fiscal consolidation measures, such as suspending ₵65 billion in arrears payments and slashing Treasury bill yields from 28% to 15%, have helped ease debt concerns and re-energised investor confidence.

President Mahama’s administration has been credited with introducing sweeping reforms that have maintained political stability, another key factor in the cedi’s recent resurgence.

Despite the optimism, policymakers remain cautious. Bank of Ghana Governor Johnson Asiama has warned against complacency, stating, “Stability doesn’t mean fixation,” and highlighting the need to balance currency strength with export competitiveness. Economists have also noted that while the recovery is impressive, the BoG may delay monetary easing due to rising utility prices and lingering inflationary risks. With inflation still above the central bank’s 6–10% target band, premature rate cuts could threaten recent gains and expose the cedi to renewed volatility.

China was the leading source of imports for Ghana

A trade report released by the Ghana Statistical Service in June 2024 revealed that Ghana spent GH¢180.7 billion on imports in the previous year.

Among the most imported items were shea nuts, second-hand vehicles, petroleum products (diesel, super, light oils), and cereal grains.

Read the full story originally published on June 3, 2024 by www.ghanaweb.com.

The latest trade report released by the Ghana Statistical Service has shown that Ghana spent GH¢180.7 billion on imports in 2023.

China was the leading source of imports for Ghana, with an import value of GH¢33.9 billion.

India and the United Arab Emirates were also cited as primary sources of imports from Asia.

Shea nuts, second-hand vehicles, petroleum products (diesel, super, light oils), and cereal grains were some of the items Ghana imported the most.

GhanaWeb Business highlights the commodities that made up Ghana’s top 10 imports in 2023:

Diesel – automotive gas oil (AGO)

The import value for this was pegged at GH¢27,124,156,236 with share of imports, 15.0%

Light oils, motor spirit, super

Its import value was estimated at GH¢22,306,927,869 with its share of imports representing 12.3%.

Cement clinkers

Import value was GH¢3,181,100,871

. Medium oils, Kerosine type jet fuel (ATK)

Import value was GH¢2,775,951,499

Cereal grains. The import value was GH¢2,731,537,768

Secondhand vehicles with engine sizes ranging between 1500cc to 3000cc

Import value for this goods was GH¢2,511,977,822

Herbicides, anti-sprouting products and plant-growth regulators

Import value was GH¢2,285,925,048

Self-propelled bulldozers

Import value was GH¢2,274,925,130

Rice, semi-milled or wholly milled rice, packaged 5kg or bulk

Import value was GH¢2,025,747,980

Shea nuts (karate nuts)

Import value cost GH¢2,018,979,619

All other products combined cost GH¢111,435,416,578, accounting for 61.7% of total imports.

Total imports in 2023 hit GH¢180,672,646,419 (100%)

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In an era when headlines often overshadow genuine truths, discussions about Africa’s development are frequently derailed by complex jargon and the misapplication of financial models.

A crucial distinction in this dialogue lies between corporate financing and investment financing, which includes strategic equity positions.

While both are components of the financial ecosystem, they fulfil distinct roles. Blurring the lines between them represents a technical mistake that could affect an entire generation.

This issue extends beyond economics; it touches on sovereignty, legacy, and impact.

Different instruments. different outcomes

Corporate financing is typically transactional in nature. It provides short to medium-term financial lifelines, manages cash flows, facilitates payroll, issues credit lines, and supports working capital. While essential for operational continuity, it is not intended to fund generational transformation.

Investment financing, however, is a strategic endeavour.

It mobilises long-term capital, structures infrastructure deals, underwrites development bonds, syndicates complex financing instruments and enables public-private partnerships.

If corporate financing keeps the system functioning, investment financing determines what that system will become in 30 years.

The structural mismatch that hurts progress

Across the continent, however, corporate financing tools are frequently used to fund investment financing ambitions.

Countries borrow short and plan long.

They take out commercial loans with high-interest terms for projects that require patient capital.

The result is a dangerous mismatch akin to building a national hospital with a credit card and then wondering why the recovery room is in debt.

In Ghana, over 40% of the government’s revenue in 2023 was allocated to servicing debt, a significant portion of which was tied to short-term, commercial-style borrowing.

In Kenya, the Standard Gauge Railway was hailed as a symbol of progress.

Yet by 2022, Kenya was spending over KSh60 billion annually on repayments to the China EXIM Bank, while the railway’s revenue consistently fell below break-even. 

The vision wasn’t flawed.

The financing was. In Mozambique, the infamous 2016 “tuna bond” scandal involved over $2 billion in hidden loans marketed as sovereign guarantees.

The fallout triggered a national debt crisis, led to the suspension of donor support, and pushed more than 1.5 million people deeper into poverty. It wasn’t just a financial scandal. It was a governance failure.

Short-term borrowing, long-term consequences

During the oil boom, Angola borrowed heavily against future oil revenues.

When prices collapsed in 2015, the economy buckled. Hospitals lacked basic supplies, and infrastructure projects were suspended.

A fiscal healing process prioritised repayment over resilience. South Africa’s Eskom has over R400 billion in debt from short-term loans for long-term infrastructure.

Lacking a capital strategy, its debt exceeded capacity, leading to blackouts, investor disillusionment, and bailout requests.

In contrast, Botswana’s Pula Fund invests diamond revenues for long-term returns, while diaspora bonds and domestic efforts fund Ethiopia’s Grand Renaissance Dam.

These examples show that national transformation needs more than vision; it requires sustainable financing.

Pension and sovereign funds: stewards of intergenerational dignity

Africa’s national pension and sovereign wealth funds were designed not just for capital management, but as intergenerational agreements.

Pension fund institutions, such as Ghana’s SSNIT, Nigeria’s PENCOM and South Africa’s GEPF, aim to offer stability, dignity, and security to those who supported their countries during crucial times. However, when analysed through the lens of political convenience, their true intent often diminishes.

What should serve as a foundation for national stability risks being reduced to tools for short-term financial relief. 
Such misinterpretations are not simple mistakes; they signify a gradual decay of public trust and the honour of generational continuity.

Sovereign funds across the continent reflect this same tension. Increasingly, their national assets under management (AUM) are managed with a corporate financing mentality: preserving liquidity, minimising risk and deferring vision.

Managing short-term obligations is understandable, but it’s essential to remember the broader mandate: these funds aim to grow wealth with foresight and purpose.

Treating generational capital transactionally may bring temporary balance, but risks diminishing the intended generational impact of these institutions.

Learning from global models

Singapore’s Temasek Holdings, established in 1974, manages over $400 billion in long-term investments, driving innovation, education and infrastructure.

Canada’s CPPIB manages over $570 billion, guided by legislation and long-term strategy, not by the ballot box.

Norway’s Pension Fund converts oil revenues into future security through transparency, diversification and disciplined governance.

South Korea’s KIC oversees the country’s foreign reserves with a globally diversified investment portfolio to depoliticise national wealth and align it with national goals. 

The UAE’s ADIA, managing over $850 billion, uses its fund not just to preserve oil wealth but to finance a post-oil future, investing in tourism, clean energy and logistics.

These examples show that institutional capital, guided by purpose and vision, can transform nations.

It’s not about how much a country has but how wisely that money is structured, protected and deployed.

From political slogans to financial blueprints

African leaders need to shift from applause-driven announcements to implementing generational financing, reducing reliance on donors, and prioritising long-term investments over electoral budget concerns.

Investment finance enables risk sharing, encourages strategic partnerships, and offers access to patient capital, creating enduring connections that last for the next 50 years, rather than just 4-5 years.

The Lagos-Calabar highway illustrates this: while ambitious, the financing model is unclear.

Africa has seen many grand visions fail due to poorly structured financing. Thoughtfully planned investment finance can help avoid these costly errors.

The human cost of mismanagement

Mismanagement of sovereign and pension funds affects individuals: the retired teacher awaiting a pension, the nurse who cannot afford medication, and the child in a nation prioritising short-term applause over long-term prosperity.

A flawed financial model and poor governance lead to budgetary constraints, thereby undermining long-term economic stability.

A continental clarion call

Africa must now institutionalise capital wisdom.

This is the century for building sovereign wealth institutions and investment authorities that are independent, competent and accountable. Let us:

• Embed investment logic into public sector leadership training.
• Include capital structuring in economic policy discourse.
• Elevate local professionals into strategic roles in national finance.
• Prioritise transparency, governance and citizen accountability.

Final reflection

The inconvenient truth is this: Sovereign and pension funds must be more than mere money set aside.

They must represent patient capital with a conscience, deployed wisely, shielded from election cycles, and guided by the long arc of nation-building.

Managing generational capital with a transactional/corporate finance mindset may balance the books, but it ultimately bankrupts the future.

Now, more than ever, as Africa shapes its path in a rapidly changing global economy, there is an opportunity to reaffirm the original investment intent of these funds.

With the proper balance of governance, professionalism, the hiring of the right personnel and board members, and a long-term vision, these funds can be pillars of resilience and instruments of transformation for future generations.

The writer is an Engineer

Six Bulk Oil Distribution Companies receive $20m from the Bank of Ghana

Six Bulk Oil Distribution Companies (BDCs) have received a total of $20 million from the Bank of Ghana (BoG) in its latest round of foreign exchange forward auction, held on Wednesday, May 28, 2025.

The funds were allocated at a locked exchange rate of GH¢10.33 to the US dollar with bids submitted in the range of GH¢9 to GH¢10.

This auction forms part of the BoG’s ongoing efforts to bolster forex liquidity for the downstream petroleum sector, particularly in the face of continued volatility in global energy markets.

By directly allocating foreign exchange to BDCs, the BoG seeks to reduce pressure on the interbank FX market, ensure consistent fuel supply and cushion domestic fuel prices against external economic shocks.

The disbursement marks the latest installment under a $120 million second-quarter programme, launched in April 2025, which provides $20 million every two weeks to eligible BDCs to facilitate fuel imports.

According to the central bank, the initiative underscores its commitment to price stability and targeted liquidity support for key sectors of the economy.

SP/MA

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Nestled in the heart of the capital lies a stunning new landmark set to redefine how Ghanaians experience innovation and luxury. The Despite Automobile Museum, commissioned by His Majesty Otumfuo Osei Tutu II on June 1, 2025, is a celebration of possibility, an ode to engineering, and a moving tribute to Ghanaian ambition.

Conceived by celebrated Ghanaian entrepreneur Dr. Osei Kwame Despite, the museum opens the doors to a private collection decades in the making. From vintage masterpieces to sleek, modern marvels, this extraordinary showcase is the first time Dr. Despite’s lifelong passion for automobiles is being shared with the public—and it’s nothing short of breathtaking.

A museum with a mission

With the tagline “More Than a Museum. A Mission in Motion,” the Despite Auto Museum was built to do more than display shiny metal. Its mission? To inspire.

“This is not just a place to see cars,” the museum’s curators emphasize. “It’s a space to feel inspired, to spark imagination and to show that world-class experiences belong here in Ghana, too.”

Each exhibit is carefully positioned to take visitors on a journey through time—from the elegance of early 20th-century motorcars to the jaw-dropping speed and precision of today’s supercars. But beyond the aesthetics and adrenaline, the museum presents a story—of dreams turned reality.

Video credit: Despite Auto Museum and UTV

What sets it apart

In a region where few have ventured to blend auto culture with heritage tourism, the Despite Automobile Museum stands out for three key reasons:

• A Private Collection, Now Public: For the first time, car enthusiasts and the curious alike can view rare and historically significant vehicles, many of which have never been seen up close in Ghana.
• Rooted in Ghana, Respected Worldwide: Built entirely in Ghana, this is a space designed by and for Ghanaians—yet curated to impress global visitors. It proves that Ghana can deliver an experience on par with the finest auto museums across Europe, Asia, or America.
• Beyond Cars: The museum blends design, engineering, and storytelling. Each car is not just a machine—it’s part of a larger narrative about speed, style, ambition, and identity.

More than a passion—A legacy

Dr. Osei Kwame Despite’s childhood fascination with cars began with admiration, but over the decades, it evolved into a mission. The museum is his gift to the nation—a space for families, students, car lovers, and tourists to learn, dream, and be inspired.

From glossy European classics to muscular American icons, and even concept cars that seem to defy gravity, the Despite Automobile Museum offers something for everyone. Whether you’re a gearhead or a casual observer, a student or a seasoned collector, stepping inside is like entering a new dimension—one where history, innovation, and elegance intersect.

Visit and be inspired

Located in Accra, the museum is preparing to open its doors to the public. Those eager to be among the first can join the VIP list for exclusive updates, early access, and behind-the-scenes previews.

In a time when Ghana continues to assert itself on the world stage in music, fashion, art, and technology, the Despite Automobile Museum is yet another symbol of the country’s creative pulse and unstoppable drive.

So come take a walk through time—through chrome, curves, and roaring engines. The road to the future has a new starting point, and it begins right here in Ghana.

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Tamale International Airport (TIA) has been granted extension of operational hours

The Ghana Civil Aviation Authority (GCAA) and the Ghana Airports Company Limited (GACL) have announced the extension of operational hours at both Prempeh I International Airport (PIA) in Kumasi and Tamale International Airport (TIA).

Under the new schedule, Prempeh I International Airport will now remain open until 11:00 PM, while Tamale International Airport will operate until 10:00 PM daily.

This strategic adjustment aims to enhance domestic connectivity, particularly for passengers arriving from the United Kingdom, Europe, and other international destinations through Kotoka International Airport (KIA) in Accra.

Travelers can now connect to Kumasi and Tamale on same-day flights beyond 8:00 PM, eliminating the need for overnight layovers in Accra.

The move is expected to facilitate more seamless travel within Ghana and is aligned with the government’s broader economic revitalisation efforts under the “24-hour economy” policy.

This initiative forms part of the government’s Reset Agenda, designed to stimulate economic activity and improve livelihoods across the country.

Authorities believe this development will significantly benefit local communities, especially in Kumasi and Tamale, by supporting job creation, tourism, and regional business growth.

Airport concessionaires, including car rental services and food and beverage vendors, have welcomed the announcement, expressing optimism about the anticipated increase in passenger traffic and corresponding boost in revenues.

Domestic airlines have been encouraged to respond by increasing flight frequencies on these routes to meet rising demand, especially during evening hours.

To facilitate the implementation, a Notice to Airmen (NOTAM) has been officially issued to inform all airline operators of the revised operational timelines.

SP/MA

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Government reverts to undersubscription trend with GH¢353 Million

The government has reverted to its undersubscription trend in the latest Treasury bills auction raising GH¢3.53 billion, falling short by some GH¢353 million short of its GH¢3.89 billion target.

The shortfall comes on the back of a temporary rebound in the previous week when the government recorded an oversubscription of GH¢431 million following three consecutive weeks of auction shortfalls.

According to the Bank of Ghana’s auction results, the government aimed to raise GH¢3.89 billion but received total bids of GH¢3.53 billion.

Despite the shortfall, all bids across the tenors were fully accepted.

The government took up the entire GH¢2.69 billion tendered for the 91-day Treasury bill as well as GH¢554 million for the 182-day and GH¢286 million for the 364-day offers likely reflecting end-of-month liquidity needs.

Investor appetite for the 182-day and 364-day bills remained relatively weak.

A total of GH¢554 million and GH¢286 million were accepted for the 182-day and 364-day.

Yields on all three tenors declined marginally aligning with the Bank of Ghana’s current monetary policy posture aimed at fostering disinflation and reducing borrowing costs.

SP/MA

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June 2nd 

©IMAGO

The special transfer window has open temporarily until June 10th with clubs able to sign players ahead of the Club World Cup. The biggest clubs in European football and clubs across the continent are already making plans for next season.. Teams are working tirelessly behind the scenes on identifying targets and figuring out their budgets.

Managers will be constantly assessing their squads with sporting directors and recruitment staff scanning the market for potential deals. A plethora of players will become available in the summer where clubs famously have more money to spend and aren’t as restricted by financial fair play rules. The rumour mill is beginning to pick up pace and we’ve collated some of the biggest current transfer stories. 

Today’s biggest transfer stories 

Barcelona are reportedly keen on signing Thomas Partey. The defensive midfielder’s contract at Arsenal expires next month and there’s been no agreement on new terms, despite Mikel Arteta’s preference for him to remain. Partey previously played in Spain for Atletico Madrid and could return to LaLiga on a free transfer. 

Al-Hilal have reportedly set Bruno Fernandes a deadline of Friday to decide whether to accept their eye-watering offer. Fernandes’ representatives have held talks with the Saudi Pro League club and the Manchester United captain is weighing up whether to leave Old Trafford. 

Nottingham Forest are in discussions to sign three Brazilian stars from Botafogo. Forest are closing in on deals for centre-back Jair Cunha, striker Igor Jesus and left-back Cuiabano. 

Regional Coordinating Council

The Western North Regional Minister, Wilbert Petty Brentum, has commended the Ghana Bauxite Company Limited for its successful operations at Awaso in the Western North Region.

According to him, the Company’s operations have resulted in significant job creation and economic growth in the region.

He assured the Company of the government’s support through the Ministry of Lands and Natural Resources to ensure smooth operations.

The Minister’s commendation underscores the government’s appreciation for the Company’s contributions to the local economy.

The Minister noted that the Company, being owned and operated by Ghanaians, is a shining example for other mining companies to follow.

He urged other companies to emulate this model for better efficiency and productivity.

The Regional Minister made these comments during a familiarisation visit to the Ghana Bauxite Company Limited at Awaso.

The visit was aimed at discussing matters of mutual interest between the Company and the Regional Coordinating Council.

The Minster expressed excitement about the Company’s corporate social responsibility initiatives, which have benefited the local community and encouraged the Company to continue giving back to the community.

The visit concluded with an agreement to strengthen collaboration between the Ghana Bauxite Company Limited and the Regional Coordinating Council to ensure continued growth and development in the region.

The General Manager of the Ghana Bauxite Company, Alexander Gyedu, revealed that the Company has undergone significant changes since Ofori-Poku Company Limited (OPCL) took over as the major shareholder in 2022.

These changes have been reflected in the Company’s human resources, machines, fleet of vehicles, and production.

Gyedu emphasized that the Company values its human resources and is committed to their welfare and continuous capacity building.

As of the end of February 2025, the Company’s workforce had grown from 483 to 1,158 employees, with plans to hire more staff to increase production.

The Ghana Bauxite Company Limited is Ghana’s first and only operating mine, currently owned by Ofori-Poku Company Limited (OPCL) with an 80% interest, while the Government of Ghana holds a 20% interest through the Ghana Integrated Aluminum Development Corporation (GIADEC).

This record-breaking funding will revolutionize healthcare delivery

Parliament has approved a monumental GHS10 billion allocation for the National Health Insurance Authority (NHIA) in 2025, marking a significant boost to Ghana’s public healthcare financing.

In a report by insightghana.com.gh, this record-breaking funding, up from GHC6 billion in 2024, will revolutionize healthcare delivery, providing millions with access to quality medical care.

Breakdown of the Allocation

The NHIA will disburse the approved amount as follows:

– Claims payment: GHC6.5 billion (65.1%)

– NHIA operational expenses: GHC1.2 billion (12.3%)

– District office support: GHC124 million (1.2%)

– Allocation to Ministry of Health: GHC984 million (9.8%)

New Priorities in 2025

Minister of Health, Kwabena Mintah Akandoh, revealed that the increased funding will support primary healthcare delivery, fill revenue gaps created by donor withdrawal, and fund initiatives like the Ghana Trust Fund (also known as ‘Mahama Care’).

Notably, dialysis treatment will now be covered under the National Health Insurance Scheme (NHIS), a critical milestone for patients with kidney disease.

Focus on Chronic Diseases

The Mahama Care initiative will prioritise funding for chronic non-communicable diseases (NCDs) like kidney infections and stroke, which account for 45% of mortality in Ghana.

This development demonstrates the government’s commitment to ensuring quality healthcare for all Ghanaians, regardless of financial situation.

Funding Sources

The National Health Insurance Fund (NHIF) is financed through:

– National Health Insurance Levy (NHIL)

– SSNIT contributors

– Returns on NHIF investments

Impact on Healthcare Delivery

The GHS10 billion funding will enable the NHIA to:

– Expand coverage to more Ghanaians

– Improve healthcare infrastructure

– Enhance quality of healthcare services

– Reduce out-of-pocket expenses for patients

This historic allocation marks a significant step towards universal healthcare in Ghana.

NAD/KA

A young man is currently assisting the police with investigations after he was found in possession of a locally manufactured firearm and ammunition.

A statement issued by the Western Central Regional Police Command copied to the Ghana News Agency said Yahaya Seidu was arrested on May 29, 2025, at Aponteng Krom in the Western Region for unlawful possession of a firearm and ammunition.

“The suspect was seen in possession of a locally manufactured pistol, and when questioned, he could not provide any lawful justification for possessing the firearm,” the statement said.

Police confirmed that a locally made pistol and two live cartridges were retrieved from Seidu during the arrest.

He is expected to be charged and put before court after further investigations are concluded.

The cedi has appreciated in recent times

Ghana’s local currency, the cedi, continues to appreciate on the interbank market against major trading currencies, particularly the US dollar.

In its daily update, the Bank of Ghana noted that the cedi is trading at a buying price of GH¢10.27 and a selling price of GH¢10.28 to the dollar.

The British pound is being bought at GH¢13.84 and sold at GH¢13.86, while the euro is trading at a buying price of GH¢11.66 and a selling price of GH¢11.67.

Checks by GhanaWeb Business on June 2, 2025, at 8:00 AM indicate that the cedi is trading at GH¢11.50, while the pound is selling at GH¢15.80 at some forex bureaus across the country.

Additionally, the euro is trading at GH¢13.00 on the retail market.

Meanwhile, the Bank of Ghana has announced that Ghana is expected to receive $360 million from the IMF in June 2025 to further stabilise the cedi.

SA

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Myjoyonline.com brings you the front pages of the various newspapers across the country.

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Okatakyie Afrifa-Mensah and Anne Sansa Daly

Media personality Okatakyie Afrifa-Mensah has denied claims made by embattled self-styled medical practitioner “Dr” Anne Sansa Daly, who alleged that she made a staggering $100,000 during a six-day trip to Ghana from the United States.

In a video shared online, Anne Sansa Daly who has been exposed as a fake medical doctor, is seen displaying several bundles of dollar bills while boasting that she earned $100,000 through deals with just two hospitals in Ghana.

“Hammond, I want to give you some work to do for me. I want you to send this message to Foster that his Uber cars and his noisy Range Rover, which causes noise pollution… tell him that I said within my six days in Ghana, from just two contracts with two hospitals, I made not less than $100,000.”

However, speaking on his “For The Records” show on Sunday, June 1, 2025, Okatakyie Afrifa-Mensah, who has been leading a campaign to expose Anne Sansa Daly as a fraud, dismissed her claims as outright falsehoods.

He asserted that Daly, who is allegedly known for duping unsuspecting individuals, could only have acquired that kind of money through fraudulent means with the support of US-based Ghanaian media personality Kevin Taylor, whom he accused of being her accomplice.

“It is a big lie. On record, she has not secured any contract deals with any hospitals. She does not own or operate any hospital in Ghana. If she claims to have made such an amount, it could only be through defrauding people with support from Kevin Taylor.

“That is what they do, they blackmail people into paying them. Some of their victims are in government, some are prominent individuals, and others are wealthy men, including one rich Nigerian named Femi. For certain reasons, I won’t mention his full name. This girl duped him for years, feeding him false stories after sleeping with him just once.”

Describing Anne Sansa Daly as a blackmailer, Okatakyie Afrifa-Mensah displayed screen shots of messages from the former to some of her ‘victims’ where she alleged scammed people.

President John Dramani Mahama on May 28, 2025, revoked the appointment of Anne Sansa Daly from the Board of the National Health Insurance Authority (NHIA), following concerns about her lack of a valid license to practise medicine in Ghana and the US.

If you missed #ForTheRecords, catch a glimpse here…

pic.twitter.com/3fz1yohRQr

— Gen. Buhari (@Gen_Buhari_) June 1, 2025

KA