Legendary Nigerian singer 2Baba has announced a new management team, marking a significant development in his career.
The Afrobeat star shared the news on Instagram, emphasising that the team was selected to revitalise and evaluate his legacy in Africa’s vibrant entertainment scene.
In a joint press statement, 2Baba’s team highlighted his immense contributions to the music scene, noting that he has redefined Afro-pop and inspired countless artists over the past three decades.
A trending video online shows the moment a man stopped his girlfriend from travelling to Accra with his mobile money investment.
Reports say the incident happened in Berekum. The woman tried to abscond with the man’s mobile money investment while he was away.
Unfortunately for her, the man caught up with the bus just before it left and stopped her from travelling.
The government has paid $349.52 million as its Eurobond debt service obligation.
The payment, which was effected by the Bank of Ghana last Thursday, is the second debt service by the Government of Ghana since the conclusion of debt treatment undertaken by the country between 2022 and last year.
“Since the conclusion of Ghana’s Eurobond debt restructuring in October 2024, the Government of Ghana has cumulatively serviced $1.17 billion in Eurobond debt payments,” the Minister of Finance, Dr Cassiel Ato Forson, said in a statement.
In October last year, the government made an initial payment of $475.60 million, covering obligations due under the restructuring agreement, including the first post-restructuring debt service.
Subsequently, the government paid $349.52 million in January this year and another $349.52 million this month.
“This brings Ghana fully up to date on all scheduled Eurobond debt service obligations for 2025,” the statement said.
The Finance Ministry said looking ahead to 2026, a total debt service of $1.409 billion was on schedule.
It said the timely payment reaffirmed Ghana’s commitment to macroeconomic stability, prudent debt management and constructive engagement with external creditors.
The ministry is expecting the ability to meet the Eurobond obligation to positively influence the country’s credit ratings trajectory in the months ahead, as it demonstrates continued discipline in debt servicing post-restructuring.
It should also boost investor confidence in Ghana’s sovereign credit profile and economic recovery programme, the statement said.
The Ministry of Finance added that the timely payment would also support foreign exchange market stability, as it had been incorporated into the central bank’s reserves and liquidity management strategy.
As part of measures to restore debt sustainability, the government launched the Domestic Debt Exchange Programme (DDEP) in 2022 to restructure its domestic debt.
The DDEP saw the government swap old bonds for new bonds worth GH¢82 billion at reduced coupon rates and longer tenors.
Since then, the government has made four coupon payments to the investors who lost significant money due to the exercise.
The first payment in August 2023 totalled GH¢8.55 billion, consisting of GH¢5.42 billion payment-in-cash and GH₵3.13 billion payment-in-kind, followed by February 2024’s payment of GH¢9.12 billion comprising GH¢5.85 billion payment-in-cash and GH¢3.27 billion payment-in-kind, and August 2024’s disbursement of GH¢9.36 billion that had G¢H5.98 billion payment-in-cash and GH¢3.38 billion payment-in-kind.
On February 17 this year, the President directed the Finance Ministry to complete the fourth round of payments under the DDEP.
The latest disbursement totals GH¢9.541 billion, comprising GH¢6.081 billion in payment-in-cash and GH¢3.46 billion in payment-in-kind.
Looking ahead, the government has already set aside GH¢9.7 billion in the Debt Service Recovery Cedi Account, known as the Sinking Fund, to cover the upcoming fifth DDEP coupon payments due in July and August 2025.
John Dramani Mahama is President of Ghana
President John Dramani Mahama has announced the establishment of an ISO-certified gold assay laboratory by 2026 as part of efforts to refine gold, boost export earnings, and align with international standards.
According to the President, Ghana is blessed with numerous natural resources like gold and diamonds, among others, and there is a need to properly utilise these resources to significantly contribute to the broader economy.
Speaking at the inauguration of the GoldBod Task Force on Tuesday, July 8, 2025, President Mahama said the lab will help ensure compliance with global export requirements while supporting plans to add more value to Ghana’s gold before it leaves the country.
“To ensure compliance with international export standards, plans are underway to establish an ISO certified assay laboratory by the year 2026, that’s by next year,” he stated.
He emphasised the long-term goal of refining 100% of Ghana’s gold domestically before export, highlighting the economic benefits.
He said Ghana would, in the coming years, establish itself in the international market as a leading gold exporter.
“Ghana will transition to bullion exports and refine more of our gold locally. Our intention in the future is to be able to refine all our gold before we export, because the difference between refined gold and dory bars is significant. It means we make more money for our exports,” he added.
The establishment of the Gold Board forms part of the National Democratic Congress’ 2024 manifesto to formalise the mining sector and strengthen Ghana’s position in the global gold market.
SP/MA
GhanaWeb Special: The gold market that fuels galamsey
The General Secretary of the New Patriotic Party (NPP), Justin Kodua Frimpong, has firmly rejected the Electoral Commission’s (EC) decision to conduct a parliamentary rerun in 19 polling stations in the Ablekuma North Constituency, insisting that the NPP candidate, Akua Afriyie, rightfully won the 2024 election.
Speaking at a press briefing on Tuesday, July 8, Mr. Kodua argued that the NPP secured a clear victory in the constituency and accused the EC of undermining the will of the people by ordering a rerun.
“We will not be part of any rerun in Ablekuma North,” the NPP General Secretary declared.
Mr. Kodua described the EC’s decision as unjust and urged the Commission to act in accordance with the facts and evidence presented during the electoral process.
The EC had earlier announced a rerun of the parliamentary election in 19 polling stations in Ablekuma North, citing irregularities in the collation process—specifically, the absence of validation by some Presiding Officers on scanned results.
However, the NPP maintains that all necessary procedures were followed and that the party’s agents, along with EC officials, had duly verified and signed the results at the polling stations involved.
Mr. Kodua’s remarks add to mounting political tension surrounding the contested constituency, with the NPP adamant that any further delay in declaring Akua Afriyie as Member of Parliament for Ablekuma North constitutes a violation of the electoral mandate of the constituents.
The Electoral Commission is yet to respond formally to the NPP’s demands
President John Mahama has pledged to clear outstanding debts owed to road contractors this month, aiming to revive stalled infrastructure projects nationwide.
Speaking during a July 7 meeting with Ghana’s Council of State, Mahama stated the Ministry of Finance has allocated funds to address “a substantial portion” of arrears, enabling contractors to resume critical roadworks.
“The swift resumption of projects is key to economic growth and regional connectivity under our 24-hour economy agenda,” the President emphasized. Construction sector stakeholders welcomed the move, having long advocated for resolution of unpaid certificates and abandoned sites.
Separately, Mahama bid farewell to outgoing German Ambassador Daniel Krull at Jubilee House, praising his four-year term as “highly productive.” The President reaffirmed commitment to strengthening bilateral ties, particularly in economic development and security cooperation. He thanked Germany for supporting the Kofi Annan International Peacekeeping Training Centre and training Ghanaian security personnel.
The Millennium Development Authority (MiDA) is committed to playing key role in Ghana’s agricultural transformation by applying successful strategies from the $547 million Millennium Challenge Corporation (MCC) Compact to the government’s new Grow24 initiative.
The Grow24, recently launched by President John Dramani Mahama, is a bold agricultural policy under the broader “24hr+” development agenda.
This was disclosed by MiDA’s Chief Executive, Mr Alexander Kofi-Mensah Mould, in an exclusive interview, saying that the Grow24, launched by President John Dramani Mahama, was a bold agricultural policy under the broader “24hr+” development agenda.
At its heart is the Volta Economic Corridor project, which aims to irrigate over two million hectares of land for intensive, is commercially viable farming.
The Volta Economic Corridor, seen as a flagship of the Grow24 policy, is expected to become a key food production hub, improve export capacity, and create thousands of jobs in rural communities.
Mr Mould stated that MiDA, originally established to implement the U.S.-funded MCC Compact, would now take on an expanded role as a national delivery agency for agricultural transformation efforts.
According to Mr Mould, MiDA’s broad experience in infrastructure, energy, and agro-industrial development made it ideally suited to drive large-scale agricultural initiatives across the country.
“Through the MCC Compact, we developed proven, high-impact models ready for nationwide implementation,” he stated, adding that, “We’re now building on that foundation to support food security, economic diversification, and rural industrialisation under Grow24.”
One of the key successes of the MCC Compact was its $189 million Agriculture Project, which included the Land Tenure Facilitation (LTF) Activity. This pilot programme enhanced land tenure security, encouraged investment in agriculture, and boosted productivity.
Furthermore, Mr Mould explained that core components from the Compact—such as land preparation, irrigation engineering, and integrated agronomic systems—would be adapted and scaled to meet Grow24’s ambitious targets.
He described ongoing efforts to clear and level land using precision methods, alongside the design of advanced irrigation systems tailored to various landscapes. These efforts combine agricultural science, economics, and engineering to build sustainable, and large-scale farming enterprises.
MiDA’s role, Mr Mould emphasised, is to provide the technical and managerial backbone necessary for the long-term success of the initiative.
“Grow24 represents a bold new vision for agricultural development in Ghana, and MiDA is fully prepared to deliver on that promise,” he concluded.
As Ghana embarks on this new chapter of agricultural growth, MiDA’s renewed mandate under Grow24 could transform the landscape of farming and agribusiness across the nation.
BY TIMES REPORTER
Kuami Eugene is a Ghanaian musician
Kuami Eugene has stated that he spent three months in the U.S. signing deals with major music platforms after leaving Lynx Entertainment.
In an interview on 3FM, the Monica hitmaker explained that he was away for family reasons and also to work on partnerships that would support his career as an independent artiste.
He explained that without the support of a record label, it’s difficult to handle things like music distribution and playlisting on his own, which is why he had to travel and meet with companies that could help.
Kuami Eugene further revealed that after his exit from Lynx Entertainment, he received numerous offers from companies eager to partner with him because of his numbers.
However, he said many of these proposals were profit-driven, prompting him to spend three months with his lawyer to carefully review and negotiate the right deals.
“I was in the States for three months for family reasons and then again, I was signing a contract with some big companies. As I said earlier, you can’t do it all by yourself. I can’t do all the distributions; to be on playlisting and stuff you need to deal with these big companies and I was there for three good months with my lawyer going back and forth.
“Because it’s just me now, everybody is looking at the numbers and how they can have a piece of it. Since I left Lynx, so many calls, people are like ‘you have numbers already you just have to do this and give us a cut’ so I have to spend three good months with my lawyer. We had a meeting with Audiomack, Ditto, and all these big platforms. We are trying to put me out there, so I was away for a while trying to put things together well,” Kuami Eugene stated.
GhanaWeb Special: The gold market that fuels galamsey
AK/EB
Akufo-Addo mourns passing of Akwatia MP Ernest Yaw Kumi
Former President Nana Addo Dankwa Akufo-Addo has joined many in mourning the passing of Ernest Yaw Kumi, Member of Parliament for the Akwatia Constituency.
In a tribute shared on his official Facebook page on July 7, 2025, the former president described the late MP as a cherished figure who was deeply admired by members of the New Patriotic Party and respected across political and social circles.
“The legislator was adored and loved by party faithful and cherished by all who knew or shared acquaintances with him,” he said.
Offering his condolences, he added, “My deepest sympathies go to his family, the House and the good people of Akwatia Constituency, at this unimaginably difficult time.”
He ended with a solemn prayer: “May he find peaceful rest in the Bosom of the Almighty, until the last day of the resurrection, when we shall all meet again.”
The passing of Ernest Yaw Kumi has left a void in the Akwatia Constituency, where he was known for his commitment to community development and public service.
Read the full Facebook post below
MRA/AE
GhanaWeb Special: The gold market that fuels galamsey
President John Dramani Mahama has announced plans to establish a gold village in Ghana.
He explained that the gold village will serve as a manufacturing hub for gold jewellery and ornament production, positioning Ghana as a continental leader in value addition.
Speaking at the inauguration of the GoldBod Task Force in Accra on July 8, 2025, President Mahama stated that traders will no longer need to travel to Dubai to purchase gold jewellery, as these products will soon be available locally.
He said; “I have tasked the gold board to establish what we call a gold village. This will be a manufacturing hub for gold jewellery and ornament production in Ghana, positioning our country as a continental leader in value addition.”
“And so when we establish the gold village, our women no longer need to go to Dubai to go and buy jewellery. You buy the jewellery here and you can rather export it to wherever you want to export it,” President Mahama added.
Parliament passed the Ghana Gold Board Bill, 2025, into law on Friday, March 28, 2025.
Under the new law, the Ghana Gold Board is responsible for overseeing, monitoring, and managing the buying, selling, and export of gold and other precious minerals.
The law designates GoldBod as the sole exporter of gold from Ghana’s small-scale mining sector, effectively prohibiting licensed traders and bullion dealers from exporting gold directly.
As part of efforts to revitalise the local economy, President John Dramani Mahama initiated the establishment of the Ghana Gold Board, which operates under the Ministry of Finance.
Clause 68(1) of the Goldbod Bill stipulates that no person shall without lawful authority, hoard gold without a license or authorisation issued by the Gold Board.
This clause is intended to prevent situations where licensed agents, funded to purchase gold for Goldbod, hoard the commodity, leading to scarcity, unfair competition, or price manipulation, among other issues.
Direct buying and selling of gold on the market is prohibited under the Ghana Goldbod Act. However, foreigners may apply to Goldbod to purchase gold from Ghana through the organisation.
Foreigners are also permitted to act as off-takers.
Foreigners should buy gold through GoldBod, which will then export the gold to their country or a location of their choice.
SA/MA
Ever heard of Nkofie, the legendary Kwahu cave believed to grant wishes? Join GhanaWeb’s People & Places as they take you on an exclusive tour of this mystical site on GhanaWeb TV:
Minister of Sports and Recreation, Kofi Adams
The Minister of Sports and Recreation, Kofi Adams, on Monday, July 7, 2025, made a surprise visit to the Borteyman Sports Complex to investigate reports of unauthorised land encroachment on the facility.
Kofi Adams was visibly upset during the tour, expressing strong dissatisfaction with the widespread unauthorised construction and development activities encroaching on the sports complex’s perimeter.
He highlighted that the entire parcel covers approximately 99 acres, with 43 acres already developed to host key facilities for the African Games.
The remaining 53 acres, which were reserved for future expansion and complementary sports infrastructure, are now under threat from encroachers.
The Sports Minister sternly warned developers and land encroachers at the Borteyman Sports Complex, stating that any construction on the disputed land would be at their own risk and would likely be demolished, making any investment a waste of money.
“This land was secured from the University of Ghana by government as a national sports infrastructure asset, and no private interest will be allowed to compromise its purpose,” the Minister said.
To underscore the Ministry’s resolve, Minister Adams swiftly contacted the Inspector-General of Police, prompting a rapid deployment of officers to the complex.
Within hours, the police arrived and halted all ongoing construction work, enforcing the Ministry’s stance against unauthorized development.
The police presence resulted in the immediate cessation of activities, with all workers directed to vacate the premises.
No equipment or materials were seized, but the enforcement team made it clear that any attempt to return to the site would attract further sanctions.
Minister Adams revealed that while the immediate focus was on halting the unauthorized construction, the Ministry was also engaging with key stakeholders to develop a long-term strategy to safeguard the complex against future land encroachment.
The Minister emphasized that developers investing in the disputed land do so at their own peril.
“This is public property, built with taxpayers’ funds to promote sports development,” he declared. “We won’t permit unauthorized activities to compromise the complex’s intended purpose.”
GhanaWeb Special: The gold market that fuels galamsey
How social engineering hacks your mind and your bank account
PM/EB
Lamine Yamal is making waves again but this time it’s not because of his performance on the pitch. The young FC Barcelona sensation stirred up speculation with a bold Instagram story that had fans and pundits talking.
Yamal, who now boasts over thirty six million followers on Instagram, posted a quote from rapper Morad that many believe wasn’t just about music. The lyrics read:
“I earned what’s mine and never had to ask anyone. I didn’t even have to lower myself. I’ve helped my people, I’m still in the streets tell me who the hell is going to take it away from me.”
The message was raw and intense and it didn’t take long for people to start connecting the dots. Many believe it was a subtle jab directed at Nico Williams.
Spanish journalist José Álvarez Haya brought the theory into the spotlight during an appearance on El Chiringuito. According to him, Yamal’s post might have been a reaction to Nico Williams’ sudden change of plans.
Nico was heavily linked with a move to Barcelona. He had reportedly spoken with Barça players and was said to be seriously considering a transfer. Lamine Yamal was even part of those private conversations. Everything seemed set.
But out of nowhere Nico renewed his contract with Athletic Club. Even more surprising was how the Barça dressing room found out – through a tweet from Athletic. No warning no explanation just silence.
Choosing Morad’s lyrics wasn’t random. Both Yamal and Morad come from the same working class neighborhood La Florida in L’Hospitalet. They share a strong bond with their roots and their street-smart authenticity.
In that light Yamal’s choice of words feels even more loaded. He seemed to be drawing a clear line saying he doesn’t beg and doesn’t fade away when things get tough.
It didn’t take long for the internet to light up. Some fans praised Yamal for handling the situation with subtlety and strength. Others argued it might have just been a general statement about staying true to oneself. But most agreed on one thing, the timing wasn’t a coincidence.
The two had built a strong connection during the Euros both on and off the field. That’s why this apparent “indirect” hit hard for many fans. It caught people off guard and raised questions about what really happened behind the scenes.
Is Yamal hurt by Nico’s decision? It definitely seems that way. But whether this is the start of a falling out or just a moment of disappointment is still unclear.
At the moment Barcelona has moved on from targeting Nico Williams in the transfer window. But if there was a sense of betrayal it looks like Lamine Yamal has already spoken his truth without needing to say a word.
Source:
https://www.beinsports.com/en-us/soccer/la-liga/articles/lamine-yamal-sends-a-strong-hint-was-it-to-nico-williams-for-not-signing-for-barcelona-2025-07-07
His Excellency Dr. Mahamudu Bawumia, popularly known among some Ghanaians as “Momfa steer no mma me,” has stirred conversation once again with his recent comments during his ongoing “Thank You” tour across the country.
Speaking to supporters and stakeholders, the former Vice President and 2024 NPP presidential candidate admitted that there were several key developments under President Akufo-Addo’s administration that he had no knowledge of.
By Iddi Yire
Accra, July 08, GNA – President John Dramani Mahama has bid farewell to the outgoing German Ambassador to Ghana, Daniel Krull, during a meeting at the Credentials Hall within the Presidency.
A statement issued by the Presidency said the courtesy visit marked the conclusion of Ambassador Krull’s four-year term of duty, which President Mahama described as highly productive.
President Mahama reiterated Ghana’s commitment to building on the strong foundation of bilateral relations between the two countries.
He emphasised the potential for deepened cooperation, particularly in the critical areas of economic development and security.
The President specifically commended Germany for its consistent support towards enhancing Ghana’s security architecture, citing significant contributions to the Kofi Annan International Peacekeeping Training Centre (KAIPTC) and capacity-building initiatives for security personnel.
Addressing the evolving security landscape in the sub-region, President Mahama highlighted the growing threat posed by extreme terrorism, especially prevalent in the Sahel.
He expressed Ghana’s readiness to work closely with Germany on targeted capacity training programmes aimed at bolstering regional efforts to combat this menace.
On the complex issue of irregular migration, President Mahama outlined Ghana’s collaborative efforts with international partners, including the International Organisation for Migration (IOM) and the European Union (EU).
He stressed the importance of creating sustainable local opportunities for young people to mitigate the risks associated with perilous journeys across the Sahara and the Mediterranean.
President Mahama conveyed Ghana’s deep appreciation for Ambassador Krull’s service.
“We appreciate you. You’re a friend of Ghana. And you’re welcome to visit any time you miss Ghana. You’re welcome to visit. And I wish you all the best in your future endeavours.”
GNA
Edited by George-Ramsey Benamba
The Minister of Roads and Highways, Kwame Governs Agbodza, says the government is set to commence the first phase of its flagship infrastructure initiative, the ‘Big Push,’ this month,` July.
The Big Push policy, a central pillar of the National Democratic Congress’ (NDC” manifesto, is aimed at accelerating infrastructure development, boosting economic growth, and creating sustainable jobs across the country.
Speaking at a press briefing on Tuesday, July 8, the sector minister underscored that all preparatory works for the initial phase have been completed.
“We have concluded the studies, the design and costing of the first phase of the Big Push project. We are in the process of seeking the relevant permissions as defined in the Public Financial Management Act to be able to commence those works starting this month,” he stated.
He reaffirmed the government’s commitment to improving road infrastructure to support economic growth.
Fire cases up slightly in H1 2025 despite 34% drop in prank calls – GNFS
Former Big Brother Naija Housemate, Tokunbo Idowu, popularly known as TBoss, has called for strict punishment for rapists and peadophiles in the country.
Naija News reports that the reality TV star made the plea while reacting to Giorgia Meloni-led Italian Government’s move towards legalising chemical castration for treating violent sex offenders.
Contrary to what many people thought, Ghanaian preacher Patricia Asiedua, known as Agradaa, is not yet at the Nsawam Female Prison.
She was found guilty on July 3, 2025, for scamming people and making false claims about her spiritual powers. Agradaa was sentenced to 15 years in jail after she held an all-night church service where she promised to share money but ended up taking money from attendees and sending them away empty-handed.
Ghanaian energy company, GMP has refuted what it describes as “spurious and misleading” allegations circulating in recent media reports, purportedly based on a petition filed by Petraco Energies DMCC to the Economic and Organised Crime Office (EOCO).
In a statement issued on Monday, GMP clarified that the matter in question stems from a commercial disagreement under a 50/50 profit-and-loss sharing joint venture with Petraco Energies DMCC not Petraco Oil Company SA, as erroneously cited in some reports.
The company explained that it transferred $10 million to Petraco to procure petroleum products.
However, while GMP claims to have transparently disclosed sale prices, Petraco allegedly failed to provide purchase cost details and ignored repeated requests for a formal audit of the transactions.
Key cost elements such as freight and hedging remain unverified, according to GMP.
“This is a purely commercial dispute. There is no evidence of fraud or criminality,” the company stated.
GMP added that the matter is currently under arbitration in Dubai, where it is pursuing a counterclaim and demanding accountability.
GMP expressed concern that certain publications had relied solely on unverified claims from a petition without seeking balance or input from the company.
“These one-sided reports create a false narrative and offer detractors an opportunity to discredit our operations and reputation,” it noted.
The company reaffirmed its willingness to engage with the media but cautioned that it would not hesitate to take legal action against any outlet or individual that continues to promote defamatory or factually inaccurate content.
GMP concluded by urging media houses to uphold professional standards of fairness and accuracy, especially in matters involving ongoing legal proceedings.
GMP (Ghanaian Market Petroleum) is an energy trading company involved in petroleum products marketing and importation.
The joint venture dispute with Petraco Energies DMCC is currently subject to arbitration in Dubai.
Renowned Ghanaian highlife musician Kwabena Kwabena has expressed disappointment over rapper King Paluta’s recent conduct during a performance abroad.
The controversy arose when King Paluta reacted harshly to a UK-based female fan who appeared to show disapproval of his performance. His response has since sparked widespread public criticism.
Kwabena Kwabena emphasized the importance of professionalism for artistes on stage, urging them to maintain composure regardless of audience reactions.
“Fans spend their hard-earned money to attend shows and deserve respect and entertainment, even when they express criticism,” he said.
He added that public figures, especially musicians, are always under scrutiny and must manage both praise and criticism with maturity.
“The burden of fame comes with the responsibility to handle emotional situations gracefully,” Kwabena Kwabena noted.
He also encouraged King Paluta and his team to reflect on the incident and use it as an opportunity for growth.
The veteran musician’s remarks contribute to ongoing discussions about how artistes should conduct themselves internationally, recognizing that their behavior impacts not only their personal brand but also Ghana’s entertainment industry.
The country earned $4.8 billion in revenue from international tourism in 2024, representing a significant 27% increase over the $3.8 billion recorded in 2023, according to the latest Ghana Tourism Report released by the Ghana Tourism Authority (GTA).
The revenue surge came on the back of strong visitor numbers, with 1.2 million international arrivals in 2024, up from 1.1 million in 2023, marking a 25% year-on-year growth in inbound tourism.
The findings underscore the country’s steady tourism recovery trajectory since the COVID-19 pandemic, the report indicated.
The GTA’s 2024 Annual Tourism Report, now a consistent yearly publication since 2019, offers a comprehensive analysis of the industry’s performance, drawing on primary data collected from tourist interviews at Kotoka International Airport (KIA) and surveys at major tourism enterprises in Accra and Takoradi during the popular “December in Ghana” (DiGH) festivities. Secondary data were provided by the Ghana Immigration Service and hospitality institutions across the country.
Top Source Markets
According to the report, American nationals topped the list of international arrivals, with 137,000 visitors coming from the United States. Nigeria followed with 111,000 visitors, while the United Kingdom placed third with 52,000. These three countries have consistently been Ghana’s leading tourism source markets over the past few years.
Purpose of Visit
Business travel remained a key driver of inbound tourism, accounting for 22.4% of total visits. Family and friends’ visitation closely followed at 22.2%, with vacation and conference travel rounding out the top four reasons for visiting.
Points of Entry
The report also provided insights into visitor entry points. Kotoka International Airport remained the primary gateway, with over 1.1 million tourists using the airport. Aflao recorded 77,000 entries, while Elubo came in third with 53,000.
Outlook
The 2024 report noted “cautious optimism” about the future of the country’s tourism sector, citing signs of sector-wide stability and continued growth potential. The GTA said it expects future investments and marketing initiatives to sustain and build on the gains made in 2024.
The report noted that tourism remains one of Ghana’s most critical non-traditional revenue sources, and the latest figures reflect both the resilience and growing global appeal of Ghana as a premier travel destination in West Africa.
A Business Desk Report
His Eminence Cardinal Peter Kodwo Appiah Turkson, Chancellor of the Pontifical Academy of Sciences and Social Sciences, has urged Ghanaians to reflect deeply on the country’s historical choices—especially the continued reverence for individuals associated with military coups.
In an interview on Channel One TV, Cardinal Turkson raised concerns about the inconsistency between Ghana’s democratic values and the naming of national landmarks after coup plotters.
Referencing Ghana’s formal commitment to regional protocols that reject unconstitutional changes of government, he highlighted what he called a “national contradiction.”
“For us in Ghana, it’s a conversation. I’m not holding anybody for criticism. But it’s an introspection that we need to make. Revisiting the past—did the coups promote democracy or the common well-being? We can evaluate all of those,” he said.
“Lately, of course, Ghana—we joined the sub-region in adopting measures that discourage coup d’états. Then for us, it’s an irony. That we have a document that discourages coups d’état with other regions in the region.”
Cardinal Turkson pointed to Kotoka International Airport, named after Lieutenant General Emmanuel Kwasi Kotoka, a key figure in the 1966 military coup that overthrew President Kwame Nkrumah.
“But the name of our airport [Kotoka International Airport], the first point of entry into Ghana, is named after a coup maker. That doesn’t gel. To dissociate the nation from a coup d’état and still idolise a figure who represents this.”
“The governments in the past may have had a reason to do it, but if we are resetting, then we have to do a full review of the history and be able to decipher values and things which are not so [in] promotion of the value system we have.”
Cardinal Turkson’s remarks add renewed weight to ongoing public debates about Ghana’s historical legacy, especially as the nation continues to champion democratic ideals across Africa.
His call for introspection echoes growing calls for a national conversation on how history, memory, and symbolism shape Ghana’s identity today.
Angel Asiamah is the Associate Pastor of Heaven’s Way Chapel and husband to Nana Agradaa
1 Gig, the brother of Nana Agradaa, has taken to social media to refute some recent allegations made against him by Angel Asiamah.
As previously reported, on July 7, 2025, during a Sunday church service, Angel Asiamah, who is also Agradaa’s husband, alleged that 1 Gig was claiming ownership of his wife’s property.
According to Asiamah, 1 Gig locked him and several others out of their residence.
But responding to this, a viral video circulating on social media on July 8, 2025, captures 1 Gig denying the allegations and maintaining his innocence.
He also challenged Asiamah to produce CCTV footage showing him locking up the house.
“I haven’t even been to the church premises. Besides, her church has large Chinese doors, you can’t lock those with padlocks. As for the TV station, people make a living there, so why would I go and shut it down?
“The house they claim I locked up also accommodates my niece. So how could I have sacked you, Asiamah, from that property? I dare you to bring out the CCTV footage, there’s a camera there that works 24/7. Show the footage of me locking the house and sacking you,” he stated.
1 Gig also urged the family to remain united during this challenging time rather than spreading falsehoods and sow division.
“This is the time the family should stay united. We need to bond spiritually and physically in prayer so we can bring our sister home. Instead, we’re fighting among ourselves.
“I’m shocked that my mother, stepfather, and biological brother are involved in this,” he added.
He then issued a stern warning to Angel Asiamah, asking him to stop stirring conflicts within the family.
“There is nothing you can do to bring me down. You can’t conspire with my family to tarnish my image. From day one, I’ve shown you respect. I don’t hate you.
“I plead with the public, what they’re saying is false. If it’s true, then let them prove it,” he added.
Agradaa’s 15-year jail sentence
Nana Agradaa was sentenced to 15 years in prison with hard lab or on July 3, 2025, on charges of charlatanic advertisement and defrauding by false pretences.
The sentencing followed a viral 2022 video in which she claimed she could double money for anyone who attended an all-night service at her church in Weija.
Watch the video below:
@akosuabakwadwotv Oh Kwame Asiamah why are you d0ing this to 1gig #fypage #trending #trendingvideo #viralvideo #fy #fyppppppppppppppppppppppp ♬ original sound – Akosua Ba Kwadwo TV
JHM/EB
GhanaWeb Special: The gold market that fuels galamsey:
File photo of a worried woman
Dear GhanaWeb,
I’m a 28-year-old woman struggling with anxiety disorder.
Growing up, my dad was very strict. It was always school and back home, no room to mingle with others.
I took the school bus every day, so I never got the chance to socialize or make friends.
Even in school, there were strict rules about how many friends you could have. My brother and I attended the same school, but we hardly spoke. At home, laughing out loud was a problem.
Whenever my sister and I laughed and heard our dad’s door open or his footsteps approaching, we would go completely silent.
If my brother went out to play football and came back, he would get whipped. We were all scared of him. We were much closer to our mum.
As I grew older, I started telling my dad about my dreams and what I wanted to become. But he would just laugh and say, “You talk too much.” That always made me feel small. Still, deep inside, I wanted to prove him wrong.
My anxiety started in high school. Thankfully, I had a good friend who helped me through it. I finally had someone to walk and talk with, I didn’t feel so alone. But in the past six years, my anxiety has worsened.
Now, I’m scared to leave the house. And when I do, I start fidgeting, shaking, sweating, and sometimes feel like I’m going to pass out. I’ve struggled to hold down a job because interviews terrify me.
The few I manage to attend never end in job offers. It’s not because I’m not smart, I know I am.
Strangely, once I actually start working, I’m fine. I become confident and focused. My few friends always tell me how intelligent I am, but they don’t know I suffer from anxiety.
I’ve tried running small businesses, but people often take advantage of me. I give them goods to sell, and they never pay me back.
Just recently, I had an interview. As I stood at the junction waiting for a trosky, I started sweating heavily, felt a headache coming on, and nearly threw up. I couldn’t go.
I keep remembering the things my dad said. Maybe he was right. Maybe I do talk too much. I’ve also been unlucky in love. My last relationship left me in the hospital, and again, I hear my dad’s voice saying, “I told you so.”
Even leaving my room is difficult. I usually wait until everyone’s out of the house before I step outside. The only person I feel comfortable around is my brother, but he’s busy with work and can’t always be there.
I can’t sleep. My mind is always racing. My family thinks I’m antisocial or just angry all the time because I stay indoors so much.
I’m tired of feeling like this. This anxiety is killing me slowly. I feel like a failure.
If there’s anyone out there who has dealt with anxiety and overcome it, please help me. What can I do to get better?
FG/EB
Also, watch an exclusive interview with Ayisi on the latest edition of Talkertainment below:
A photo collage of President John Dramani Mahama (L) and suspended Chief Justice, Gertrude Torkornoo
President John Dramani Mahama has, for the first time, publicly commented on the ongoing processes on three petitions for the removal of suspended Chief Justice, Gertrude Torkornoo.
Addressing the Council of State on Monday, July 7, 2025, the president described the ongoing processes on the petitions for the removal of Justice Torkornoo, who he suspended after the determination of a prima facie case by the council, as a “difficult issue” faced in the sixth month of his government.
He said that the council did its job and now awaits the findings of the 5-member committee hearing the petitions, which is chaired by Supreme Court judge, Justice Gabriel Scott Pwamang.
“On the issue of governance, we have had a difficult issue with regard the suspension of the Chief Justice. Of course, the Council of State was involved in a part of that process.
“And so, we have done our part. The rest is left with the committee that was set up to come out with whatever its findings are,” he said.
President Mahama indicated that the fate of Justice Torkornoo will be determined by the outcome of the work of the committee, saying, “Based on that (the findings), whatever the consequential issues are will be dealt with.”
Watch a video of Mahama’s remarks below:
BAI/AE
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Edward Ato Sarpong, Managing Director of ADB
The Agricultural Development Bank (ADB) PLC has commenced 24-hour banking services at the Ghana Ports and Harbours Authority (GPHA) to support the 24-hour port service initiative launched on July 1, 2025.
This strategic move is aimed at facilitating the payment of GPHA handling charges at any time of day or night, meeting the demanding needs of importers, exporters, freight forwarders, and other port users.
Speaking on the development, the Managing Director of ADB, Edward Ato Sarpong, stated that the initiative is designed to complement the government’s 24-hour economy programme, which seeks to create jobs, boost exports, and transition the economy toward higher productivity and value addition.
“The 24-hour economy is not just about working round the clock; it’s about creating added value and decent jobs to drive higher productivity,” the MD said.
Mr. Sarpong explained that the Bank’s 24-hour service is expected to particularly benefit freight forwarders, customs clearing agents, shipping companies, traders, and other customers who often work irregular hours to meet tight logistics schedules.
“By providing 24-hour banking services, ADB is ensuring that port stakeholders have convenient access to perform the financial transactions necessary to keep their operations running efficiently,” he added.
The ADB MD also revealed that plans are far advanced to extend the 24-hour service to other payment collection points across the country to further stimulate economic activity.
This latest initiative, Sarpong noted, aligns with the Bank’s new tagline, “Beyond Banking…” which reflects ADB’s commitment to going beyond traditional banking by offering innovative, customer-focused solutions that enhance experiences across all sectors.
He encouraged customers and the general public to take full advantage of the 24-hour service at the Tema Port for the payment of handling charges, in order to facilitate their business operations more smoothly.
Rooney has joined BBC as football pundit
English football legend Wayne Rooney has been dominating social media trends after it became public that he will be joining the British Broadcasting Corporation (BBC) as a sports pundit.
It is reported that he signed an £800,000 deal to be a pundit on Match of the Day from the 2025/2026 season.
The England icon will join the BBC’s flagship show, following Gary Lineker’s departure as its host.
The deal is said to include the opportunity for a two-year extension, while Rooney is expected to feature as a pundit on the World Cup alongside the likes of Alan Shearer, Jürgen Klinsmann, Rio Ferdinand, and Joe Hart.
The prolific striker’s new job comes after he left Plymouth as manager following abysmal performances.
The news was met with criticism from a section of football fans who questioned why Rooney would become a sports analyst after failing to impress as a manager.
Some asserted that after his managerial career faltered, he would not be in the right position to criticise players and coaches when things don’t go well.
Others mocked him for running away from coaching after terrible performances at championship sides Derby County and Plymouth to venture into sports journalism.
Based on these reasons, they believe Rooney’s credibility as a football pundit is questionable, despite his legendary status as a player for Manchester United and the Three Lions.
SB/EB
Read the coments below
He failed as a manager 🤣
— Dc CFC (@dc_dior58091) July 8, 2025
None he’s boring
— davide (@Oli35Oliver) February 7, 2025
They’re about to drag him on the TL for saying something controversial soon.
The first drag will be about his failed coaching career unfortunately.
Gonna be a long one
— Frank Akiba 🧬 (@FrankAkiba060) July 8, 2025
they really be letting anyone be a pundit these days, he’s as terrible at punditry as managing
— jj (@JGNFFC_) July 7, 2025
Hahahaha as coaching no gree em,
He should come and talk, since he has failed as a couch, at least he didn’t fail as a player.
— The•Hate•You•Preach• (@Rolexflex1) July 7, 2025
Farewell to MOTD then. The most popular show of recent times was the one when all the pundits were on strike and we got no talking at all. Putting that guy front and centre guarantees the downward trend of banality and increases the likelihood of it being cancelled.
— 🤡 OneLiner 🚂 (@__OneLiner___) July 8, 2025
Another failed manager telling managers what they’re doing wrong. How quaint. Still won’t watch.
— The Dimarco (@thedimarco76) July 7, 2025
All the pundits are failures at coaching or too scared to coach a team. But they will sit there and tell us how a team should play to win a game.
— aykeii (@aykeii1) July 7, 2025
Time to give his wild takes on football managers when he couldn’t even manage a team properly.
Classic former English player behavior. Never change. 🤣— Vinland (@MunYeahOh) July 8, 2025
Meanwhile, watch as historian Annam details how Swedru All Blacks started as a military club
President Cyril Ramaphosa says South Africa will engage with the US to negotiate a better deal
South Africa’s President Cyril Ramaphosa has opposed what he calls the “unilateral” higher trade tariffs imposed on his country by the US.
US President Donald Trump announced on Monday that he would subject imports from South Africa to a new 30% tariff from 1 August.
It is the only African state affected by his latest announcement, reflecting his strained relationship with Ramaphosa’s government.
In a letter to Ramaphosa, Trump said South Africa’s trade relationship with the US “has been, unfortunately, far from reciprocal”. In his response, Ramaphosa maintained the 30% tariff “is not an accurate representation of available trade data”.
Trump’s decision is a huge blow to South Africa. The US is its second-biggest trading partner, and South Africa’s automobile and farming sectors had duty-free access to the US market.
Trump sent letters to South Africa and 13 other countries, informing them of his latest tariff plans.
The US president said the rates could be modified “upward or downward, depending on our relationship with your country”.
“We have had years to discuss our trading relationship with South Africa, and have concluded that we must move away from these long-term, and very persistent, trade deficits engendered by South Africa’s tariff, and non-tariff, policies and trade barriers,” Trump said in his letter.
“Starting on August 1, 2025, we will charge South Africa a tariff of only 30% on any and all South African products sent to the United States, separate from all sectoral tariffs,” he added.
Trump said that if South Africa were to increase its tariffs in response to his announcement, the amount it chooses to raise them by would be added on top of the existing 30%.
“If you wish to open your heretofore closed trading markets to the United States, and eliminate your tariff and non-tariff policies and trade barriers, we will, perhaps, consider an adjustment to this letter.”
In response, Ramaphosa contested the new tariffs, saying the issue was still under consideration by negotiating teams from South Africa and the US.
“This 30% tariff is based on a particular interpretation of the balance of trade between South Africa and the United States,” Ramaphosa said in a statement.
He added that more than half of the goods South Africa imported from the US were not taxed, and the average tariff on the rest was 7.6%
He said South Africa would continue with its diplomatic efforts to ensure a “more balanced and mutually beneficial trade relationship” with the US.
In April, Trump imposed a 30% tariff on South Africa, as part of his global “reciprocal” tariffs, before agreeing to suspend their implementation for 90 days.
Higher tariffs had been set to come into effect on 9 July, having previously been suspended, with White House officials saying they would look to strike trade deals.
When asked by a reporter whether the new August date was a hard deadline, Trump said: “I would say firm, but not 100% firm. If they call up and they say we’d like to do something a different way, we’re going to be open to that.”
South Africa and other countries around the continent have been pushing to negotiate trade deals with the US to prevent Trump’s sweeping tariffs.
Trump argues that introducing tariffs will protect American businesses from foreign competition and also boost domestic manufacturing and jobs.
US-South Africa relations hit rock-bottom after Trump took office in January.
The US president has stopped all aid to South Africa, accusing it of discriminating against the white minority. South Africa has repeatedly denied this.
Ramaphosa held talks with Trump in May in a bid to mend relations.
However, Trump confronted him with a series of contested claims about the killing of white farmers, and his latest announcement suggests that he is keeping up the pressure on South Africa.
Rihanna, the daughter of Nana Agradaa, recently touched the hearts of many when she sang at her mother’s church, Heaven Way Champion International Ministries. Her powerful and sweet voice moved the congregation deeply, leaving many in tears. The song she chose to sing, “Defe Defe,” resonated strongly with everyone present, creating a moment filled with emotion and hope.
As Rihanna sang, her voice carried a mix of strength and tenderness that captured the attention of all who listened. People described her performance as unforgettable, saying it stirred feelings of comfort and inspiration. One church member said, “When Rihanna sang ‘Defe Defe,’ it felt like the words were reaching right into our hearts. Her voice is truly a gift.” The way she delivered the song showed not only her talent but also her deep connection to the message behind the music.
The atmosphere in Heaven Way Champion International Ministries during her performance was filled with a sense of unity and peace. Many who were there said they could feel the power of the song and the sincerity in Rihanna’s voice. The tears that flowed were not just from sadness but from a shared experience of faith and hope. A longtime attendee shared, “It was a beautiful moment. Rihanna’s voice brought healing and strength to everyone. You could see how much she means to the church and her family.”
Rihanna’s singing also highlighted the close bond she shares with her mother, Nana Agradaa. Despite the challenges facing the church and Nana Agradaa’s recent legal troubles, this moment showed a side of hope and resilience. Rihanna’s performance was a reminder that even in difficult times, faith and love can bring people together. “Her voice is a light in dark times,” said another churchgoer. “It reminds us that we can overcome anything with faith.”
The song “Defe Defe” itself carries a powerful message of victory and triumph over hardship. Rihanna’s choice to sing it was seen as a strong statement of encouragement to the church members and supporters. The lyrics, combined with her heartfelt delivery, made the song a source of comfort for many. “The song means a lot to us,” said one member. “Hearing it sung so beautifully by Rihanna gave us hope and reminded us that better days are ahead.”
Many who witnessed the performance took to social media to share their feelings and praise Rihanna’s talent. Comments flooded in, expressing admiration for her voice and the emotional impact of her singing. One comment read, “Rihanna’s voice gave me chills. She sang with so much passion and love. Truly a blessing.” Another said, “This young woman has a bright future. Her voice is something special.”
Rihanna’s performance at Heaven Way Champion International Ministries was more than just a song; it was a moment of healing and strength for a community facing challenges. Her voice brought people together and reminded them of the power of faith and hope. As she sang “Defe Defe,” she not only honored her mother’s church but also inspired everyone who heard her.
This beautiful moment will be remembered by many as a sign that even in tough times, music and faith can bring light and comfort. Rihanna’s gift of song is a powerful reminder that hope can be found in the sweetest voices and the strongest hearts.
Source: Link
New Patriotic Party (NPP) National Youth Organizer Salam Mustapha has declared the Electoral Commission (EC) and ruling National Democratic Congress (NDC) “will bear responsibility for any bloodshed” during the upcoming Ablekuma North constituency rerun.
The warning follows the EC’s announcement of a July 11 reelection in 19 polling stations, citing incomplete collation from the 2024 general elections.
In an Accra-based OKAY FM interview on Monday, Mustapha accused the EC of collaborating with the NDC, calling the rerun a “dangerous precedent.” He confirmed the NPP filed for an interlocutory injunction on July 7 to halt Thursday’s vote, alleging procedural irregularities.
The EC previously informed Parliament only three stations required resolution post-2024 polls, making the expanded rerun unexpected. Political analysts note rising tensions in the constituency, a traditional NPP stronghold where NDC aims to gain ground under President Mahama’s administration.
Electoral Commission officials maintain the rerun follows constitutional protocols, dismissing partisanship claims. Security services have deployed personnel to monitor preparations amid fears of clashes.
Kalybos
Actor Richard Kweku Asante, widely known as Kalybos, has explained why he publicly supported the New Patriotic Party (NPP) during the 2024 general elections.
Speaking in an interview on Joy FM, Kalybos stated that his decision to campaign for the NPP was driven by personal experience and not financial gain, as some critics have suggested.
At the heart of his support was the Free Senior High School (Free SHS) policy, a flagship initiative of the Akufo-Addo-led NPP government. According to the actor, the programme significantly reduced the financial burden he had long carried due to frequent requests from family and community members to help pay school fees.
“Back then, the amount of money I spent on school fees was unbelievable. There’s this public perception that once you appear on TV, you’re rich. So people kept coming with school fee issues—from family, from my mother’s side, from the community. It was endless,” Kalybos explained.
He revealed that before the introduction of Free SHS, he often found himself financially drained in September—the month many Ghanaian schools reopen—because he had to assist numerous people with tuition payments.
“Before Free SHS, I became broke after paying fees in September. But with the policy in place, I finally had breathing space,” he added.
While he acknowledged a “little bit of selfishness” in his support for the programme, Kalybos said it was more about relieving long-term financial stress than political allegiance.
“If I could help promote this policy and make sure it stays, it meant I could save money and finally pursue projects I had put on hold,” he said.
Kalybos also clarified that he has worked with both political sides in the past, but the tangible impact of the Free SHS policy on his personal life and others’ lives made this particular initiative worth endorsing.
“It wasn’t just talk; it made a real difference in people’s lives—and in mine too,” he concluded.
Kalybos’ comments come amid ongoing discussions around celebrity involvement in politics, with some sections of the public questioning the motives behind such endorsements.
Pastor Kofi Oduro
There is no dearth of jokes in this country. One of such jokes is the plea by a man of God, Pastor Kofi Oduro that Ato Essien be released from prison because of his educational background, smartness and the poor state of the Nsawam Prison.
So much public funds went down the drain with no identifiable financial dividends to the people of this country through his machinations, which the man of God describes as an asset. Asset indeed!
We have also taken note of others who have joined the bandwagon of pleas to the President to pardon the gentleman because local prisons are congested.
And a Commonwealth team also proceeding to Ghana on a similar mission to have the man released?
He is special and so should have the law varied for him, is what they are saying.
Our country is gradually losing its moral fabric as persons who should serve as role models are being denied public deference because of their posture in society.
To present somebody who caused such a massive loss to the country as one worthy of being a role model is to promote public purse thievery.
We do not want persons of this ilk presented to our youth as role models; those who do so should be shunned by all means because they do not care a hoot about the progress of this country.
Our youth must be encouraged to make genuine wealth without stains, and there are good Ghanaians they can adopt as role models.
Perhaps, henceforth administration of justice must be discriminatory, which is the bottom-line of the points being raised by those pleading with the President to order the release from prison of Ato Forson.
Agradaa, who was convicted last week, should also be released because she defrauded many Ghanaians using her smartness.
What kind of country are we building? A country where those who are educated regardless of the crimes they commit should be pardoned because of their status in society?
We pray we do not reach that notch, because when we do it would usher in a state of nature in our part of the world.
We are concerned that educated persons with respectable personalities would allow themselves to be used to demand the release of Ato Essien.
Ghana has endured too much financial loss to individuals, many of whom have been pardoned because of their proximity to the corridors of power.
The precedent has been set already with the stoppage of the cases against certain individual politicians following the victory of their party at the polls. This is the reason there is no hesitation to demand such freedom from the President for Ato Essien.
These pleas could be only the tip of the iceberg. Multiple personal visits to the residence of the President and his office, not forgetting the interventions of traditional rulers, can only be imagined.
Those who say that the Nsawam Prison is too congested to contain Ato Essien should ask the President to undertake a decongestion exercise at the facility for the sake of the man under review. That would make better logic than claiming that he is too intelligent to be confined to the four walls of Nsawam Prison.
What a joke, what a country!
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Business mogul Sir Samuel Esson Jonah has described the $100 million financing deal between Engineers & Planners (E&P) and the ECOWAS Bank for Investment and Development (EBID) as a “historic milestone” in Ghana’s mining industry.
Speaking at the facility signing ceremony in Accra on July 7, 2025, Sir Jonah, who chaired the event, said the transaction is a practical breakthrough in Ghana’s long quest for indigenous ownership in the mining sector.
“Today, we are not merely here to witness the signing of a facility agreement. We are here to celebrate a milestone, affirm a vision, and embrace a bold new chapter in Ghana’s economic story, led not by foreign interests, but by our own,” he said.
The Black Volta Gold Project, which E&P is acquiring with the facility, will become Ghana’s first large-scale, wholly Ghanaian-owned gold mining venture. It is expected to produce an average of 163,000 ounces of gold per year in its first five years, roughly 3% of Ghana’s annual gold output.
Sir Sam Jonah, who has been a longstanding advocate for local participation in mining, noted that this achievement vindicates his decades-long call for Ghanaians to move from the periphery to the centre of the mining value chain.
“We cannot continue to be mere labour providers or royalty collectors while others control the equity, the strategy, and ultimately, the wealth,” he stressed.
He praised E&P’s founder, Ibrahim Mahama, for his persistence and vision, recalling their first meeting in 1998 when Mahama sought his advice about entering the mining business.
“That young man listened. He built a company. He earned the respect of the industry. And now, he stands poised to fulfil a vision that many considered impossible. Congratulations, Ibra, you have made us all proud,” Sir Jonah said.
He also used the occasion to call on the government to introduce policy reforms and incentives to make it easier for Ghanaians to own and lead mining enterprises.
“Ownership matters. Equity matters. And national pride demands that we do more to ensure that our people are at the heart of our mineral wealth,” he added.
Referencing South Africa’s Black Economic Empowerment (BEE) programme and the rise of billionaire Patrice Motsepe, Jonah argued that Ghana must similarly create opportunities to grow its own industrial champions.
“If we remove the barriers, I have no doubt that many more ‘Motsepes’ will emerge from Ghana,” he said.
Jonah applauded EBID for backing the project, describing the bank’s decision as a bold endorsement of indigenous entrepreneurship.
“You have not only provided financing, you have de-risked hope,” he remarked.
He urged E&P to set high standards in governance, environmental stewardship, and community engagement, saying the project must prove that Ghanaian companies can compete with the best in the world, with integrity.
“Let this day be remembered as the day we turned the corner, from resource extraction for others to resource empowerment for ourselves. Let us rise as a people. Let us mine our gold and own our future,” he concluded.
Manhyia South MP Nana Agyei Baffour Awuah has expressed deep sorrow over the sudden death of Akwatia MP Ernest Yaw Kumi, describing the loss as devastating for the New Patriotic Party (NPP) and the nation.
Speaking on JoyNews’ AM Show, Mr Awuah extended heartfelt condolences to the bereaved family, highlighting the late MP’s significant contributions.
“This is very sad, and I want to first express my condolences to the bereaved family,” he said. “He became a gift to the NPP, particularly to those of us in Parliament. He was part of the Mighty 88, and one of the reasons why we became mighty — because he brought exceptional gifts full of promise: resilient, strong-minded, and unwavering.”
He praised Mr Kumi’s team spirit and interpersonal skills, adding, “He was very strong-minded, brought them to bear, and was a true team player — good interpersonal skills, very affable. Basically, he is part of the reason why Ghanaians have come to recognise that even though our numbers are small, we are mighty.”
Reflecting on the tragic news, Mr Awuah lamented, “It is heartbreaking that he had to leave us after just six months. It is very, very sad.”
The news came unexpectedly while Mr Awuah was attending a traditional ceremony in Kojo Oppong Nkrumah’s constituency.
“Yesterday, the news came to us while we were in Kojo Oppong Nkrumah’s constituency, attending the enstoolment ceremony of a friend. During the ceremony, we heard the news, and we all hoped it wasn’t true.”
Read Also: Minority Leader eulogises Akwatia MP Ernest Kumi
Visibly shaken, he concluded, “In fact, when I woke up this morning, I was hoping someone would tell me it was just a bad dream. We have been left devastated — very, very devastated.”
The late Ernest Yaw Kumi was a member of the New Patriotic Party (NPP) who passed away following a brief illness.
His sudden and unexpected death has sent shockwaves through the political community and the nation, particularly as he was reported to have been actively participating in parliamentary duties as recently as last week.
Tributes have since poured in from colleagues, constituents, and well-wishers, all lauding his unwavering dedication, humility, and exemplary service to the people of Akwatia.
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.
Tributes flooded Ghana’s political sphere following the July 7 death of Akwatia MP Ernest Yaw Kumi, 40, after a brief illness.
The New Patriotic Party (NPP) legislator succumbed to chest pains despite emergency efforts at a private hospital, his brother Edmund Apoh told 3News. “He was our family’s pillar and only hope,” Apoh stated, confirming Kumi fell ill upon returning from travel.
Former President Nana Akufo-Addo expressed devastation on social media, calling Kumi “adored by party faithful” and extending sympathies to his family and constituents: “May he rest peacefully until the Resurrection.” Colleagues shared emotional reflections, with Akuapim North MP Samuel Awuku recalling their final conversation days prior: “You sounded full of life… Now I turn to an empty seat behind me.”
New Juaben South MP Michael Okyere Baafi described Kumi’s death as a “national loss,” praising his “tireless commitment to justice.” Ofoase Ayirebi MP Kojo Oppong Nkrumah highlighted the MP’s resilience: “Always with a smile no matter the pressure… A young man with so much promise.”
Kumi, affectionately known as “Akwatia Star Boy,” served in Ghana’s 8th Parliament. Parliament observed a moment of silence as colleagues pledged to honor his legacy of service.
John Dramani Mahama is the President of Ghana
John Dramani Mahama in July last year promised to put the country back on a sound footing when voted back into office.
He said; “Companies that will participate in the 24-hour economy will receive some tax incentives. We have to boost our local production and create jobs for our young people.”
Read the full story originally published on July 8, 2024 by www.ghanaweb.com.
NDC flagbearer, John Dramani Mahama says he has gained enough experience to implement strategic policies that can reset the country in four years if elected as President.
Admitting that four years may not be enough for the government to completely transform the country, he said his government would prioritise the stability of the economy and the local currency to reduce the economic hardship confronting the people.
Speaking to journalists at a maiden media encounter ahead of the 2024 General Election on Sunday night, the former President said he would prioritise local production to reduce dependency on imports, which put pressure on the local currency.
He said his proposed 24-hour economy would focus on local production of goods to meet local demand and take advantage of the African Continental Free Trade Area Agreement to export to other African countries.
“Companies that will participate in the 24-hour economy will receive some tax incentives. We have to boost our local production and create jobs for our young people.
“The government has some obligations to make this work and we will do that,” the former President said.
Mahama said he was aware that the country was in dire economic straits and thus his government would prioritise prudent management of State resources and ensure fiscal discipline.
Among the key policies, the former President said, would be the establishment of a special committee to audit all government procurement above five (5) million dollars.
He said the government would also dedicate funds annually for the completion of all abandoned projects before investing in new ones.
Mr Mahama said his government would also revamp the cocoa sector to boost production to increase foreign exchange earnings.
Touching on Ghana’s programme with the International Monetary Fund, Mahama said he would not cancel the programme.
He said the Government would explore opportunities to “tweak” the agreement to reduce the impact of the conditionalities to lessen its impact on the people.
The former President said the Government would also abolish some taxes he described as nuisance to reduce the burden on businesses and taxpayers.
“The COVID-19 Levy, E-Levy will be abolished and we will explore other measures to increase revenue to support the economy.
“We will take the nuisance taxes out, streamline the taxes, as well as expand the tax net,” he said, adding that his Government would also rationalise port levies.
Ever heard of Nkofie, the legendary Kwahu cave believed to grant wishes? Join GhanaWeb’s People & Places as they take you on an exclusive tour of this mystical site on GhanaWeb TV:
Ruth Kadiri
Nollywood actress Ruth Kadiri has clarified that she is not hiding her husband, Mr. Ezerika, from the public.
Speaking on the Dear Ife podcast by Diary of a Naija Girl, Ruth explained that while she doesn’t frequently post about her husband on social media, he is very much a part of her life and often attends events with her.
“We go to church together; we attend events together. My life is not as private as people think. At the events I organise, my husband is always there,” she said.
Ruth added that her husband simply prefers to stay out of the spotlight, and she respects his wishes.
“People who know me, know him. For me, that’s enough. I don’t understand why I should feel the need to prove anything,” she said.
She emphasized that her decision to keep her marriage private is not about secrecy but about maintaining peace and avoiding unnecessary drama.
Justin Kodua Frimpong
The New Patriotic Party (NPP) has accused officials of the Electoral Commission (EC) of acting in the interest of the ruling National Democratic Congress (NDC), following the Commission’s decision to re-run parliamentary elections in 19 polling stations within the Ablekuma North Constituency.
At a press conference last Thursday, NPP General Secretary, Justin Kodua Frimpong, claimed the EC’s move was a direct response to recent threats by the NDC, particularly its National Chairman, Johnson Asiedu Nketia, who recently called for the dismissal of the current EC leadership.
Mr. Asiedu Nketia, speaking on JoyNews’ PM Express, cited alleged irregularities in the 2024 parliamentary elections, particularly in Ablekuma North, as grounds to demand the removal of the EC Chairperson and her two deputies. According to him, the Commission failed to manage the polls credibly, compromising public confidence in the electoral process.
However, Mr. Kodua described the EC’s decision to re-run elections in 19 polling stations—despite earlier agreement that only three polling station results needed to be collated—as a suspicious volte-face aimed at placating the NDC and preserving the jobs of the EC commissioners.
“The only logical deduction that can be drawn from the EC’s sudden U-turn is that the commissioners are yielding to pressure and threats from the NDC government. It appears they are doing the bidding of the NDC in the hope of securing their positions,” Kodua said.
He warned that the alleged collusion between the EC and the NDC sets a dangerous precedent for electoral management in Ghana. If not checked, he cautioned, it could embolden political actors to orchestrate violence and destroy electoral materials, only to push for re-runs in areas where their candidates are trailing.
Kodua listed several constituencies, including Tema Central, Okaikwei Central, Fanteakwa North, Nsawam-Adoagyiri, and Techiman South, where he alleged NDC-affiliated thugs disrupted collation processes, destroyed electoral materials, and in some cases, coerced EC officials into declaring NDC candidates as winners.
Focusing on Ablekuma North, he alleged that video evidence exists showing NDC operatives destroying pink sheets belonging to the NPP and the EC, while the NDC’s own documents remained intact.
“Where are the NDC’s pink sheets? Why are they refusing to present them to confirm the results of the polling stations they claim to have won? Not a single footage shows their documents were destroyed. That alone raises serious questions,” Kodua insisted.
He argued that the EC is empowered by law, including the Evidence Act and the Electronic Transactions Act, to use scanned copies of pink sheets as valid proof in determining results, and thus sees no justification for a re-run.
The NPP is calling on Ghanaians, civil society organisations, the National Peace Council, traditional and religious leaders to intervene and call both the EC and the NDC to order, to prevent future chaos in Ghana’s electoral process.
“The outcome of elections in Ghana cannot and must not be decided by orchestrated thuggery or political pressure. It must solely reflect the will of the people as expressed through valid votes,” he emphasised.
Mr. Kodua also reminded the EC Chairperson, Jean Mensa, and her deputies of their constitutional duty to remain impartial, stating: “Article 46 of the Constitution guarantees the independence of the Electoral Commission. In the performance of its functions, it shall not be subject to the control or direction of any person or authority—certainly not Asiedu Nketia and not the NDC.”
By Ebenezer K. Amponsah
Dr. Adrian Alter
The International Monetary Fund (IMF) has appointed Dr. Adrian Alter, a seasoned Senior Economist, as its new Resident Representative to Ghana. His appointment takes effect from September 2, 2025.
Dr. Alter will take over from Dr. Leandro Medina, who is set to conclude his three-year tenure in August 2025. Dr. Medina has been instrumental in guiding Ghana through its ongoing US$3 billion Extended Credit Facility (ECF) programme.
Currently a member of the IMF mission team supervising Ghana’s ECF implementation, Dr. Alter brings to the role more than a decade of experience in international macroeconomics. His areas of expertise include financial stability, monetary policy, inflation management, and sovereign debt restructuring.
Dr. Alter has worked on IMF-supported programmes in countries such as Ghana, Tunisia, and Serbia. He is expected in Accra ahead of his official start date to ensure a smooth transition.
His academic and professional credentials are noteworthy. Dr. Alter has completed executive training in Financial Stability at Yale University. Before joining the IMF, he held key roles at the European Central Bank, Deutsche Bundesbank, and UBS Investment Bank, where he focused on banking supervision, systemic risk analysis, and macroprudential policy.
With Ghana pursuing a recovery agenda under the ECF, Dr. Alter’s expertise is expected to play a critical role in supporting structural fiscal reforms, enhancing domestic revenue mobilisation, and strengthening financial sector institutions.
In his new role, Dr. Alter will also oversee ongoing tax policy reforms, monitor Ghana’s fiscal performance, and help ensure that IMF-supported strategies deliver sustainable and inclusive economic growth.
His appointment comes at a crucial time as Ghana aims to meet IMF programme benchmarks and consolidate macroeconomic stability following years of fiscal strain and global economic challenges.
Private legal practitioner Martin Kpebu has taken a swipe at the Ghana Bar Association (GBA) and its President, Efua Ghartey, over the association’s criticism of the suspension of Chief Justice Gertrude Torkonoo.
The GBA has called on the government to review the suspension of the Chief Justice, who is under investigation following three petitions seeking her removal from office.
President John Mahama has revealed that Ghana’s International Reserves has now increased to six months of import cover from the 4.7 months quoted by the Bank of Ghana in April this year.
“This is one of the highest that the country has recorded in the last 15 years”, he announced during an interaction with members of the Council of State at the Jubilee House.
“We are also looking forward to Ghana’s International Reserves reaching 10 months of import cover”, he added.
President Mahama was optimistic this will go a long way to help build the needed balance to aid in the cedi’s stability.
According to him, the significant growth in the country’s reserves can be linked to programmes implemented over the past months by government and the Bank of Ghana.
“We have instituted a lot of measures that has helped improve transparency around Ghana’s gold exports and that is also helping us improve our forex earnings and inflows as well”, he said.
“Looking at the way things are going, we are hopeful that the country’s international reserves could reach record levels in the coming weeks”, he reiterated.
He pointed out that the establishment of the Ghana Gold Board has brought some sanity into the industry and has helped improved the country’s forex inflows.
Background
The Bank of Ghana in its May Financial and Economic data revealed that the country’s international reserves stood at 4.7 months of Import cover, translating into the US $10.6 billion.
The Bank of Ghana has said it is working to increase the country’s international reserves to reach record levels.
Data from the commercial banks showed that ending June 2025, the Bank of Ghana had advanced almost 5 billion dollars to support the local currency and meet the needs of businesses and commercial banks.
The first Deputy Governor Dr. Mumuni Zakari in a recent interview with JOYBUSINESS assured that there is enough dollars to supply commercial banks and also take care of external debt obligations.
Economy
President Mahama announced that the upcoming Mid-Year Budget will be presented by Finance Minister Dr. Ato Forson later this month, and will give more details about development in the economy.
“We will have a better view on what has been done over the past six months, in terms of real economic data” he said.
The President expressed his optimism about the economy in the coming months, pledging that government will continue to undertake steps to stabilize the economy.
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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.
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William Ato Essien is the former Managing Director of now-defunct Capital Bank
The former Managing Director of Capital Bank, William Ato Essien, in July this year was denied bail by the Accra High Court.
Essien, who was convicted in October 2023, is currently serving a 15-year prison sentence.
Read the full story originally published on July 8, 2025 by www.ghanaweb.com.
The Accra High Court has denied a bail application filed on behalf of William Ato Essien, the founder of the defunct Capital Bank, who is currently serving a 15-year prison sentence for stealing over GH¢90 million from the bank.
Essien, who served as the Managing Director of Capital Bank, was convicted in October 2023 after failing to fulfill the terms of a plea bargain agreement brokered by the then-Attorney General, Godfred Yeboah Dame.
The agreement allowed him to avoid a custodial sentence by repaying the state GH¢90 million in three installments.
Under the arrangement, Essien was required to make payments as follows; an initial sum by April 28, 2023, a second by August 31, 2023, and a final installment by December 15, 2023.
Though he paid GH¢30 million in December 2022, he defaulted on the subsequent payments.
At the time of sentencing, Justice Kyei Baffour noted that Essien had managed to pay only GH¢7 million of the outstanding GH¢40 million due under the agreement. As a result, he was sentenced to 15 years of hard labour.
Following his conviction, Essien filed an appeal against the sentence. On Friday, May 16, 2025, his legal team, led by Baffour Gyawu Bonsu Ashia (standing in for Thaddeus Sory), applied for bail pending the determination of the appeal.
Meanwhile, the prosecution, represented by State Attorney Frederick Adu-Gyamfi, indicated that the Attorney General’s office did not oppose the application.
However, presiding over the bail hearing, Justice Emmanuel Lodoh exercised judicial discretion to deny the application, ruling that Essien remain in custody as his appeal progresses through the legal system.
Ever heard of Nkofie, the legendary Kwahu cave believed to grant wishes? Join GhanaWeb’s People & Places as they take you on an exclusive tour of this mystical site on GhanaWeb TV:
Renowned Ghanaian broadcast journalist Kwami Sefa Kayi is set to make a highly anticipated return to the airwaves as the host of Peace FM 104.3 FM’s flagship morning show, Kokrokoo, starting on Monday, July 14, 2025.
The veteran journalist, known for his sharp interviews and captivating presentation style, will once again helm the popular program, which has become a mainstay for his audience across Ghana. Recognized for tackling significant national issues with clarity and impartiality, Kwami Sefa Kayi’s return is expected to revitalize the show’s dedicated listeners and attract new ones.
Peace FM 104.3 FM announced the news today, sparking excitement among fans who have been eagerly anticipating the broadcaster’s return. Kokrokoo, a morning talk show, has long been a platform for stimulating discussions on politics, combining humor and professionalism, which has garnered him widespread recognition.
The station has not disclosed any information regarding possible changes to the show’s format or schedule, but sources indicate that Sefa Kayi’s return will bring renewed vigor to the program. Listeners can tune in to Peace FM every Monday to Friday to see the esteemed broadcaster in action.
Kwami Sefa Kayi, a prominent figure in Ghanaian media, shared his excitement about resuming his position.
As the countdown to July 14 begins, anticipation is building for what is expected to be a vibrant return for one of Ghana’s most influential voices in broadcasting.
https://www.facebook.com/share/158EuZUEco
We will closely follow this update to keep our audience informed of any further developments concerning Kwami Sefa Kayi’s return. In the meantime, please follow our page and stay tuned.
The opposition National Democratic Congress (NDC) is facing growing internal discontent as lawyers who played pivotal roles in the party’s 2024 election collation exercise have reportedly been sidelined in the distribution of post-election appointments.
The lawyers, numbering over 270, were deployed across the country as part of a deliberate strategy by the party to ensure credible results collation and minimize electoral irregularities.
FLASHBACK: Kojo Antwi and mom
legend Kojo Antwi, popularly known as Mr. Man, will bury his late mother, Madam Mary Adwoa Nyamaa, on Saturday, July 11, 2025.
She passed away on November 13, 2024, at the Mpraeso General Hospital in the Eastern Region at the age of 100.
The final funeral rites will take place at the Presbyterian School in Obo-Kwahu, also in the Eastern Region. The ceremony will feature music to celebrate her life and honour her memory as a loving mother, grandmother, and God-fearing woman.
Kojo Antwi has revealed that his mother inspired his popular song “Bre Bre Anowaa” from his 1996 album To Mother Africa. The song remains one of his biggest hits.
With a music career spanning decades, Kojo Antwi has released 13 albums, including two with his band Classique Vibes. He is the fourth of nine children—three of whom have sadly passed away.
The funeral is expected to draw family, friends, and fans to celebrate the life of Madam Nyamaa.
Collins Adomako Mensah
The Minority Caucus in Parliament has cautioned the Mahama-led administration against what it describes as an attempt to take “undue credit” for the recent declaration of commerciality regarding the Eban-Akoma oil discovery by Eni Ghana.
Addressing the media in Parliament yesterday, Deputy Ranking Member on the Energy Committee, Collins Adomako Mensah, dismissed a July 4 statement issued by the Ministry of Energy and Green Transition, which had hailed the development as a major milestone made possible by the leadership of Energy Minister John Abdulai Jinapor and the Mahama government’s commitment to Ghana’s upstream petroleum sector.
According to the Minority, the current administration’s claim to the oil discovery is misleading, considering the critical groundwork and approvals that were executed under the previous New Patriotic Party (NPP) government.
“The Eban and Akoma discoveries were made under the Akufo-Addo-Bawumia administration,” Mr. Adomako Mensah stated, adding, “Eni Ghana, with the approval of the Petroleum Commission during the NPP government, drilled the Akoma-1X well in 2019, with the discovery announced on May 9 of that year. Similarly, the Eban-1X well was drilled in July 2021, resulting in another significant find.”
He noted that the NPP government not only authorised the initial drilling but also facilitated a joint appraisal programme in July 2022, aimed at fast-tracking development and reducing the risk of stranded resources in the context of the global energy transition.
“The declaration of commerciality by Eni this year is the direct outcome of that appraisal process. It is therefore dishonest and disingenuous for the Ministry to now project this as a new success of the Mahama government,” he emphasised.
The Minority questioned how a government that has been in power for less than seven months could lay claim to discoveries rooted in prior years of exploration, policy direction, and regulatory clearance.
Mr. Adomako Mensah further defended the NPP’s record in the oil and gas sector, citing major discoveries such as Pecan South East in 2018 and Nyankom-1X in 2019 as legacies of the Akufo-Addo-Bawumia administration.
“Our achievements in hydrocarbon development span from fiscal regime reforms under President Kufuor to key exploration milestones under President Akufo-Addo. It is unfortunate that the Mahama administration is attempting to rewrite this history for political gain,” he stated.
The Minority therefore urged the government to give credit where it is due and desist from politicising achievements that are the result of long-term national planning and policy continuity.
By Ernest Kofi Adu, Parliament House
The Western genre evolved significantly in the 1960s, as the “spaghetti” subgenre became quite popular thanks to films like A Fistful of Dollars and Django. While there was some crossover success stateside, American cinema was experiencing the “New Hollywood” movement in the 1970s, in which younger directors made stories that alluded to current events.
The government has announced plans to regulate the activities of task forces operating in mining areas under the guise of combating illegal mining.
This follows complaints from the Ashanti Chapter of the Ghana National Association of Small-Scale Miners (GNASSM) about multiple unregulated groups allegedly harassing and extorting licensed miners without proper authority.
In response, President John Dramani Mahama convened a high-level meeting with key stakeholders on Monday, July 7, to address the issue.
Speaking during a separate engagement with the Council of State, President Mahama described the fight against illegal mining as “complex” and stressed the need for better coordination among enforcement teams.
“It is not an easy fight. Just this morning, I summoned all stakeholders in the anti-galamsey effort to my office so we can streamline their activities. Right now, everyone is doing as they please, leading to the rise of illegal task forces exploiting the situation,” he said.
The President assured that the outcome of the meeting has paved the way for a more coordinated and lawful approach to tackling illegal mining while protecting the rights of licensed operators.
President Donald Trump has rejected Elon Musk’s proposal to form a third political party, calling the idea “ridiculous” and predicting “complete disruption & chaos” in a social media post Sunday.
The rebuke escalates a feud sparked by Musk’s criticism of Trump’s “One Big Beautiful Bill” tax and spending package signed July 4, which Musk warned could add “trillions” to U.S. debt.
Trump characterized Musk as “off the rails” and a “TRAIN WRECK” following the Tesla CEO’s July 7 announcement of an “America Party” to “give you back your freedom.”
The president asserted third parties “have never succeeded” in U.S. politics. Musk’s declaration triggered Tesla’s sharpest single-day stock decline since early June.
Political analysts questioned the viability of Musk’s plan. Saint Anselm College professor Christopher Galdieri noted it could fracture Republican margins in 2026 midterms if Musk funds primary challengers.
University of Maryland researcher Clay Ramsay emphasized the need for a “core idea” and credible candidates beyond “vanity projects,” suggesting targeted opposition to GOP incumbents as more effective. Brookings Institution’s Darrell West acknowledged voter appetite for alternatives but urged Musk to find “someone to lead the party who could appeal to more people.”
The clash underscores deepening tensions between the billionaires over fiscal policy and political influence.
The Africa Policy Lens (APL) has said that FUND24, the financial backbone of Mahama’s 24H+ economy policy, is built on a shaky framework in its current form and predicts less impact.
The FUND24, as part of Mahama’s 24H+ economy, promises affordable capital for SMEs, massive infrastructure, and job creation.
In an extensive review of the policy, the APL casts doubt on the policy’s ability to meet its revenue targets, stating that its reliance on external financial support makes it incompatible with the objectives of the 24-hour economy.
“The FUND24 was sold to Ghanaians as a bold transformation strategy, promising affordable capital for SMEs, massive infrastructure, and job creation. But behind the grand design lies a shaky framework,” the APL said in its review.
It continued:
“Operating across three tracks—enterprise financing (via DBG and VCTF), infrastructure development (through GIIF’s SPVs), and technical assistance (offered by the 24H+ Secretariat)—FUND24 aims to raise $4 billion by 2030 through blended finance and foreign institutional capital. On paper, it sounds promising. It’s structurally flawed and fundamentally incompatible with Ghana’s 24-hour economic ambitions.”
“First, let’s confront the elephant in the room: Ghana’s debt crisis. With public debt ballooning to $49.5 billion, 55% of GDP in March 2025, international development finance institutions (DFIs) are understandably cautious. In fact, in 2022, Ghana received absolutely nothing out of the $3.59 billion in infrastructure funding allocated to Sub-Saharan Africa. This is not a system that DFIs trust, and without them, FUND24’s capital flow collapses.”
“Add to that the cedi’s devastating 40% depreciation in 2022, and suddenly any foreign loan becomes a ticking time bomb. If DBG borrows in dollars and lends in cedis, a wave of defaults could drown the entire program.”
“Even worse, the proposal to channel Ghana’s GHS 42 billion pension fund into risky SME equity is reckless. Pension funds exist to protect retiree livelihoods, not to bankroll fragile startups. One wrong bet and the retirement security of an entire generation could vanish.”
The APL also doubted the infrastructure track, describing it as “equally shaky,” as well as the digital loan solution under FUND24.
“The touted Agbledu parks may never rise from the ground thanks to Ghana’s chaotic land tenure system, where over 80% of land is informally owned and legally untraceable.”
“And what of the digital loan revolution FUND24 promises? It assumes a tech-savvy population, yet only 58% of Ghanaians are even online. That’s not a digital revolution; it’s a digital delusion. You can’t run a loan portal on dreams when nearly half the population is offline or digitally excluded,” the APL noted.
“If the government truly wants a 24-hour economy, it needs a homegrown financing model—one not held hostage by foreign lenders or fictional SPVs. Ghana must unlock its own capital markets. Pension funds can play a role, yes, but through mandated low-risk allocations like South Africa’s Regulation 28.”
The APL also urged the government to “issue diaspora bonds to capture part of the $4.7 billion in annual remittances.”
“And instead of chasing phantom foreign investors, it should incentivise real domestic giants—MTN, Dangote, Ghana Oil—to co-invest in SPVs. Most importantly, land reform and a push for local-currency lending must be urgent priorities if financial inclusion is to be real.”
“FUND24 is not just flawed; it is dangerous in its current form. Built on weak assumptions, overdependent on DFIs, and blind to Ghana’s on-the-ground realities, it is the most brittle pillar of the entire 24H+ economy.”
“Without urgent course correction, it will join the growing list of failed Ghanaian economic fantasies.”
Source: Myjoyonline.com
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