The Bulk Oil Storage and Transportation Company (BOST) is embarking on a transformative energy initiative, which seeks to roll out solar power systems across its key fuel depots as part of a broader green transition strategy.

The move, which aligns with Ghana’s Energy Transition Framework, is expected to significantly cut operational costs, reduce emissions, and boost the country’s clean energy ambitions.

The national framework targets a 10% reduction in emissions by 2030 and net-zero emissions by 2070.

As part of the initiative, BOST has established a Green Transition and Alternative Fuels Department tasked with leading the company’s shift toward more sustainable operations.

Solar panel installations are already underway at the Buipe and Kumasi depots, with Tema scheduled next.

These installations will provide power for critical functions such as pumps, lighting, and monitoring systems, replacing the reliance on costly diesel generators.

“Energy is one of BOST’s biggest expenses, and with diesel prices still above GH¢12 per litre, the shift to solar is smart economics,” Managing Director of BOST Afetsi Awoonor said in a statement.

He mentioned that the transition is not only expected to yield cost savings but also open potential revenue opportunities through Ghana’s emerging carbon credit market.

“Each solar-powered depot contributes to the national emission-reduction target, reinforcing BOST’s role in the country’s sustainable energy future. This marks a deliberate commitment to lowering emissions, reducing energy costs, and aligning BOST’s operations with Ghana’s long-term energy agenda,” Awoonor added.

The company’s efforts come at a time when Ghana has intensified its national climate action with the establishment of the Ministry of Green Transition by President John Dramani Mahama.

The newly created ministry, led by John Abdulai Jinapor is further strengthened by the Climate Change and Sustainability Secretariat, which are championing a coordinated push across sectors to green the economy, build climate resilience, and attract green finance.

Initiatives like BOST’s solar rollout demonstrate government’s alignment with this agenda and signal a growing commitment across state institutions to move from fossil-heavy systems to cleaner, smarter energy models.

While acknowledging the challenges of solar integration, including the need for technical skills and system maintenance, BOST sees the shift as essential for building long-term resilience and relevance.

“This transition is not about abandoning oil overnight. It’s about staying relevant in a world that is moving forward, toward cleaner, smarter energy,” Afetsi Awoonor

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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.

Kwesi Afreh Biney is the Director-General of SSNIT

The National Pensions Regulatory Authority (NPRA) has called on the Social Security and National Insurance Trust (SSNIT) to undertake deeper governance reforms and diversify its investment portfolio to safeguard the pension fund against future economic shocks.

The recommendation follows the impact of the Domestic Debt Exchange Programme (DDEP), which substantially reduced returns on fixed-income investments and highlighted the risks of concentrated asset strategies.

Speaking at the launch of SSNIT’s 60th anniversary celebrations, NPRA Deputy Chief Executive Officer, Victor Azuma Mejida, acknowledged SSNIT’s progress in expanding coverage and implementing administrative reforms.

However, he cautioned that previous economic disruptions from the COVID-19 pandemic to the recent debt restructuring revealed systemic vulnerabilities.

“Going forward, it is important to reflect on these valuable lessons to remain agile in protecting income and investment security for stakeholders in the face of economic shocks. The DDEP served as a stark reminder that even the most trusted assets carry risks,” Mejida stated.

He urged SSNIT’s board and management to pursue reforms that improve governance, broaden investment choices, embrace innovation, and enhance operational efficiency.

“Let us ensure that, regardless of economic hardship or fiscal turbulence, our pension systems are resilient enough to honour their social contract with contributors and pensioners,” he said.

SA

How Virtual Reality is enhancing business and customer experience

John Awuah is the CEO of the Ghana Association of Banks

The CEO of the Ghana Association of Banks, John Awuah, says the banking industry is anticipating a significant cut, about two percentage points, in the Bank of Ghana’s policy rate, as the Monetary Policy Committee (MPC) concludes its three-day meeting today, Wednesday, July 30, 2025.

Speaking to Citi Business News, Awuah stated that current economic conditions, particularly the decline in inflation to 13.7%, support a major reduction in the 28% policy rate.

“So we are all watching closely. We are expecting something significant, around 200 basis points. If the policy rate comes down, and comes down aggressively, it will directly affect the Ghana Reference Rate, which will eventually feed into a reduction in lending rates,” he said.

Banks view a possible rate cut as the logical next step following months of falling inflation and a stable currency.

The MPC’s decision is expected to influence borrowing costs, investor confidence, inflation expectations, and access to credit in the second half of 2025.

Awuah also noted that lending rates are shaped by the policy rate, the interbank rate, and Treasury bill rates. A cut in the policy rate, he explained, could help reduce overall interest rates in the market.

DR/MA

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Ghana Football Association (GFA) President Kurt Okraku has described the Black Queens’ bronze medal finish at the 2024 Women’s Africa Cup of Nations (WAFCON) as a defining moment in the journey of women’s football in Ghana.

Speaking during the team’s courtesy call on the Presidency at the Jubilee House, Okraku thanked President John Dramani Mahama and Vice President Professor Jane Naana Opoku Agyemang for their sustained support for Ghana football. He said the Queens’ achievement was not only historic but also a clear result of targeted investments made in the women’s game since 2019.

“The Black Queens’ performance is a testament to the strength, talent, and right investments made in women’s football since this administration took office,” he said. “This success gives hope to every young girl who dreams of playing football.”

Okraku praised head coach Kim Björkegren and his staff for the team’s transformation and urged continued investment in infrastructure, youth development, and player welfare.

He reaffirmed the GFA’s full commitment to supporting government efforts to develop football across all levels, stressing that the momentum built must not be lost.

Security consultant, Nana Kweku Ofori Atta

In an era where digital transformation is crucial for national development, the call for a secure centralised database system in Ghana is both timely and essential. Ensuring robust and secure record-keeping across various governmental institutions is paramount to protecting data from vulnerabilities.

Key institutions such as the Economic and Organised Crime Office (E O C O), Registrar General’s Department, Births and Deaths Registry, Ghana Immigration Service, Ghana Ports and Harbors Authority, Electricity Company of Ghana, National Identification Authority, Electoral Commission, the Ghana Police Service , all the security services and the Ghana Revenue Authority, among others, should be integrated into a single, centralised database. This integration would facilitate the seamless validation of licenses, renewal of passports, driving licenses, national identification cards, and electoral registration and monitoring.

Enhancing Security and Efficiency

A centralised database system will play a critical role in streamlining operations across these institutions, enhancing the efficiency of data retrieval and validation processes. This system will provide a reliable platform for investigations and background checks on all eligible citizens and foreigners intending to establish businesses in Ghana. By doing so, it will prevent fraudulent individuals from obtaining permits to operate illegally.

For example, before the Registrar General issues certification to corporations, comprehensive criminal background checks on board directors and even sole proprietorships should be mandatory. This level of scrutiny is currently lacking and needs to be addressed to safeguard the business environment from unscrupulous actors.

Financial Transactions and Data Security

Moreover, integrating all bank transactions into the national centralised database will significantly enhance data protection and aid in tracking fraudulent activities. With a robust cyber insurance policy, citizens can be assured of protection against potential cyber threats and data breaches. Such policies will ensure that telecommunications companies and the Electricity Company of Ghana are proactive in addressing internet service challenges and safeguarding user data.

Regulatory Framework for Internet Service Providers

To further bolster cybersecurity, it is imperative to establish laws regulating internet service providers (ISPs) and domain name registrars. These regulations should prevent the proliferation of platforms used to perpetrate scams and defraud innocent citizens. Ensuring that ISPs adhere to stringent security protocols will help in curbing online fraud and protecting user data.

Legislative Support for Cybersecurity

In addition to the existing Data Protection Act, Ghana must implement a comprehensive cyber insurance policy. This policy should mandate private telecommunications companies, the Electricity Company of Ghana, and other critical infrastructure providers to adopt proactive measures in mitigating internet service challenges. Such legislation will not only protect citizens but also enhance the overall resilience of the nation’s digital infrastructure.

Conclusion

The establishment of a centralized database system in Ghana is a critical step towards enhancing data security, improving operational efficiency, and combating fraud. By integrating key governmental institutions into a single, secure platform, the nation can ensure accurate record-keeping and facilitate seamless validation processes. Coupled with stringent regulatory frameworks and cyber insurance policies, Ghana can build a resilient and secure digital ecosystem that safeguards its citizens and fosters a trustworthy business environment.

Implementing these measures will require concerted efforts from all stakeholders, including the government, private sector, and civil society. However, the benefits of such a system far outweigh the challenges, paving the way for a more secure and prosperous Ghana.

By Emmanuel Gamson

Fijai (W/R), July 30, GNA – The Western Regional Command of the Ghana National Fire Service (GNFS) has organised a mid-year religious Thanksgiving Service at the forecourt of its Headquarters at Fijai in the Sekondi-Takoradi Metropolis.

The event was also characterised by a send-off ceremony for some retired officers, and the installation of a new Chaplain for the Command.

It was held on the theme: “Be Imitators of God” (Ephesians 5:1-2)”, and attended by personnel, chaplains from various security services, including the Ghana Police, Prisons, and Ghana Air Force, some retired Fire Officers, family and friends among other people.

The ceremony included a sermon, prayer session, and handover between the outgoing Chaplain, Divisional Officer (DO) III Reverend Emma Riverson, and the incoming, Assistant Divisional Officer (ADO) I Rev. Father Andzi Quainoo.

Assistant Chief Fire Officer (ACFO) II David Asah Darko, the Western Regional Fire Commander, during the service emphasised the importance of fire prevention, and encouraged personnel to make a positive impact in their communities.

He charged incoming Regional Chaplain to uphold the office’s reputation and serve with diligence and integrity.

GNA

Edited by Justina Paaga/Christian Akorlie

The month-long operation began this week

A major demolition exercise is underway at the Canoe Basin within the Tema Fishing Harbour as part of efforts to decongest the area, remove unauthorized structures, and address growing concerns over sanitation and criminal activity.

The month-long operation, which began this week, is a joint effort by the Ghana Ports and Harbours Authority (GPHA), the Tema Traditional Council, the Tema Metropolitan Assembly (TMA), the Ghana Police Service, and the Ghana Navy.

Authorities say the exercise is part of a broader redevelopment initiative aimed at transforming the enclave into a state-of-the-art fish processing and preservation facility that complies with European Union (EU) food safety standards.

According to officials, the cleanup is intended to restore order to the area, which has long suffered from congestion, poor sanitation, and the presence of suspected criminals and drug users. However, not everyone supports the move.

Some fishmongers and women working in the area have voiced their frustration, claiming they were not given prior notice.

Speaking to Accra 100.5 FM’s Rebecca Lartey, they warned that the demolition threatens their livelihoods and could leave them without a place to do business.

Responding to the growing concerns and rumors that the land had been sold to private developers, the Chief Fisherman of Tema, Nii Odametey, strongly denied such claims.

He assured the community that the redevelopment project is designed to benefit local fish workers and improve long-term economic prospects for the fishing industry.

“The land has not been sold,” he stated.

“This project is to ensure that our fishmongers have access to a clean, safe, and modern environment that meets international standards. It is in the best interest of the community and the nation,” he added.

The demolition and redevelopment are expected to continue throughout August, with additional community engagement planned to address concerns and ensure a smooth transition for those affected.

The demonstrators

A group of Ghanaian youth on Saturday staged a protest in Accra, marching from Circle to East Legon to prompt authorities on the increasing number of atrocities in the country.

The demonstrators were demanding the immediate departure of Nigerian nationals from the country, citing an alleged rise in prostitution, kidnapping, and other crimes they associate with the increasing Nigerian presence.

The protesters also expressed frustration over the dominance of Nigerian traders on Ghanaian markets, accusing them of undercutting prices and making it difficult for local traders to compete.

Some of the protesters say they plan to march to the residence of a self-proclaimed Igbo king in Ghana as part of their demonstration. The protesters were seen holding placards which read: “Armed Robbery and Violent Attacks Must Stop”, and “Send them back”, among others.

In the wake of the protests and agitation from the Ghanaian youth, Member of Parliament for Nsawam-Adoagyiri, Frank Annoh-Dompreh, on the floor of Parliament, called on Speaker Alban Sumana Kingsford Bagbin to invite the Interior Minister for questioning over the heightened killings in the country.

“Mr. Speaker, I say this with a lot of a heavy heart. We have been reading news about people going missing, and the next day or two, their bodies are found. We read about a number of them. I can cite them, but it says national security matters, and I need to be cautious about how I relate to this matter,” he stated.

Annoh-Dompreh called on the Speaker to invite the Ministers for the Interior and National Security to meet Members of Parliament at a plenary.

“You should meet us in closed seating. Even yesterday, we had two killings again in the Ashanti Region. Even today, it happened again. Then we can have a closed seating for him to brief us. We may also have some good suggestions. We are representing various constituencies, and Members of Parliament may be carrying unique and diverse information, which could be made available to aid the work and operation of the minister. So I think this is a matter we need to act as people’s representatives, we can’t cross over. And I pray that you invite the Interior Minister to meet with colleagues today.”

BY Prince Fiifi Yorke

Accra, July 30, GNA – The Bank of Ghana (BoG) has called on banks to align their operations with the sustainable banking principles as it steps up efforts to integrate climate risk and environmental sustainability into the country’s financial sector.  

The BoG has also issued a Climate-Related Financial Risk Directive, requiring all banks to integrate climate risk into governance and risk management structures.   

The directive seeks to enhance the resilience of Regulated Financial Institutions (RFIs) by integrating climate risk considerations into governance, risk management, and disclosure practices.  

Banks are required to update their governance structures, risk management systems, and internal policies to comply with the directive by 31st December 2025, with full implementation starting on 1stJanuary 2026.  

A newly established Climate and Sustainability Office within the central bank will lead the implementation.  

Speaking at a session on the construction sector, Second Deputy Governor of the BoG, Mrs. Matilda Asante-Asiedu, said the move was part of broader efforts to safeguard the banking sector from emerging Environmental, Social and Governance (ESG) financial risks through the implementation of the Ghana Sustainable Banking Principles.  

She said the construction industry like other sectors was deeply linked with climate, resource efficiency and financial risk, adding that rising temperatures and erratic rainfall patterns could push timelines and costs beyond projections thereby posing risks to banks.  

“These are increasingly part of the risk landscape and can amplify loss given defaults for a bank, create reputational issues, or possibly lead to regulatory penalties,” she said.  

“Our goal is to ensure that banks do not simply react to these risks after they occur, but proactively incorporate sustainability considerations into project due diligence, client engagement and portfolio monitoring,” she added.  

Mrs Asante-Asiedu said BoG sustained engagement was helping financial institutions to adopt practices that integrate environmental, social and governance (ESG) factors, particularly in high-impact sectors such as construction.  

She said this had led to an increase in sector-wide compliance with the principles from 42.2% in 2021 to over 73.6% as of March 2025.  

She urged the banking sector to be at the forefront of the ESG evolution, adding that the Bank of Ghana viewed sustainability not as a peripheral issue, but as a central pillar of financial stability, long-term value creation and responsible economic stewardship.   

For his part, Mr John Awuah, CEO of Ghana Association of Banks, said despite the construction sector significant contributions to growth, it presented considerable environmental and social risks that, if left unchecked, could undermine the very development gains the country seek to consolidate.  

He said the Ghana Sustainable Banking Principles, were not just a compliance tool but a strategic framework to reorient financial intermediation practices in ways that respect environmental boundaries, protect vulnerable communities and future-proof our banking institutions against climate and ESG-related risks.  

“As banks, we cannot finance the future with tools from the past. ESG must become the new language of risk, the new language of opportunity and the new logic of value creation,” Mr Awuah said.  

He called on development partners to help mitigate the perceived and actual risks associated with sustainable construction lending through a guarantee scheme tailored to ESG-aligned projects to incentivise banks to lend more assertively in this space.   

In addition, the provision of affordable and long-term financing to banks, which can then be on lend to developers for credible sustainability plans.   

This approach can significantly reduce the price burden on borrowers and improve project viability.  

He called for support for the co-development of sector-specific ESG screening tools, environmental risk calculators, and construction-specific sustainability benchmarks to aid diligence and monitoring as well as capacity building and technical assistance.  

GNA  

Christian Akorlie   

The Court of Appeal has granted bail pending appeal to William Ato Essein, the founder of the defunct Capital Bank.

In a ruling on Wednesday July 30, the court granted bail to Ato Essien in the sum of GHS10million with two sureties.

He is to deposit his passport at the court’s registry and also report once a month to the Registrar of the Court.

Essien was jailed for 15 years in 2023 by the Accra High Court for stealing over GHS90 million belonging to the bank.

This is after he failed to refund the total of GHS90 million under a restitution deal which had earlier secured him a non custodial sentence.

Prior to the bail, calls had emerged from some quarters for the release of Ato Essien on grounds of ill health.

Read also

We can’t find Akufo-Addo’s 10,000km roads – Agbodza

The family of WO II Patrick Dotse Gomashie and the Catholic Community of the Our Lady Queen of Peace Catholic Church, Madina, announce the passing of;

WO II PATRICK DOTSE GOMASHIE

AGED: 106

FUNERAL ARRANGEMENTS ARE AS FOLLOWS

VIEWING: Saturday 9th August, 2025 at Our Lady Queen of Peace Catholic Church, Madina – 7 am – 8:30 am

BURIAL AND MEMORIAL SERVICE: Saturday, 9th August, 2025 at Our Lady Queen of Peace Catholic Church, Madina – 9 am.

INTERMENT: Private Burial in Aflao

FINAL FUNERAL RITES: Follows immediately after interment at the Institute of Local Government, Madina

THANKSGIVING SERVICE: Sunday 10th August 2025 at Queen of Peace Church, Madina Time: 9 am

ALL COVID-19 PROTOCOLS WILL BE OBSERVED.

                     ALL FRIENDS AND SYMPATHIZERS ARE CORDIALLY INVITED

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Cocoa and gold are key export commodities for Ghana

Ghana posted a significant trade surplus of US$5.57 billion in the first six months of 2025, which represents a 307.4% increase compared to the US$1.367 billion recorded during the same period in 2024.

The trade surplus is the amount by which the value of a country’s exports exceeds the value of its imports.

According to the Bank of Ghana’s latest data, total exports for the first half of the year reached US$13.79 billion, while imports stood at US$8.225 billion as of June 2025.

The strong surplus was largely driven by booming gold exports, which brought in US$8.38 billion, supported by high global gold prices. Cocoa exports followed, generating US$2.167 billion during the period.

Additionally, crude oil exports were also notable, bringing in US$1.364 billion, while non-traditional exports, including processed foods, horticultural products, and crafts accounted for US$1.87 billion.

According to the BoG data, the country’s gross international reserves stood at US$11.12 billion as of June 2025, providing about 4.8 months of import cover, while net international reserves stood at US$8.88 billion.

On the external accounts front, Ghana recorded a current account surplus of US$3.34 billion. The financial account was however estimated at US$1.596 billion, reflecting improved capital flows and external financing conditions.

MA

Cocoa and gold are key export commodities for Ghana

Ghana posted a significant trade surplus of US$5.57 billion in the first six months of 2025, which represents a 307.4% increase compared to the US$1.367 billion recorded during the same period in 2024.

The trade surplus is the amount by which the value of a country’s exports exceeds the value of its imports.

According to the Bank of Ghana’s latest data, total exports for the first half of the year reached US$13.79 billion, while imports stood at US$8.225 billion as of June 2025.

The strong surplus was largely driven by booming gold exports, which brought in US$8.38 billion, supported by high global gold prices. Cocoa exports followed, generating US$2.167 billion during the period.

Additionally, crude oil exports were also notable, bringing in US$1.364 billion, while non-traditional exports, including processed foods, horticultural products, and crafts accounted for US$1.87 billion.

According to the BoG data, the country’s gross international reserves stood at US$11.12 billion as of June 2025, providing about 4.8 months of import cover, while net international reserves stood at US$8.88 billion.

On the external accounts front, Ghana recorded a current account surplus of US$3.34 billion. The financial account was however estimated at US$1.596 billion, reflecting improved capital flows and external financing conditions.

MA

JOYNEWS strongly condemns the violent assault and arbitrary detention of our journalist, Carlos Calony, on the Spintex Road in Accra while covering a demolition exercise on Tuesday, 30th July, 2025.

The reporter and his cameraman, Jonathan Mensah Quaye, were reporting live from the scene when operatives, believed to be from National Security and dressed in military uniforms, attacked them without provocation.

Carlos was interviewing an eyewitness when officers pounced on the civilian, beating and slapping him for speaking to the media. Carlos was himself struck twice in the neck with a clenched fist by one of the officers.

In a shocking escalation, the operatives pushed over the mounted camera, causing significant damage, seized Carlos’ phones, and forced him into a vehicle.

He was driven to the National Security installation at Bluegate, where he was detained. His release came only after the personal intervention of the Minister for the Interior.

Carlos’ personal microphone was also damaged in the assault, and he is currently receiving medical treatment for neck pain.

The entire episode was broadcast live, and viewers across the country witnessed this brazen attack on press freedom in real time.

JOYNEWS condemns this act in the strongest terms. This is not only an attack on two of our journalists but also a blatant affront to media freedom, the right to information, and the constitutional guarantee of free expression in Ghana.

We demand:

An immediate and transparent investigation by state authorities;

Sanctions against the operatives involved.

Journalists must be allowed to work freely and safely. We will not relent in our duty to inform the Ghanaian people.

Signed,
Senior Editor
JOYNEWS

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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.