The Abusuapanin and Otumfuo’s Chief Security, Nana Susu Bribi, popularly known as Arafat, has told critics of the former wife of the late John Kumah, Lilian Owusu Kumah, now known as Lilian Aryeequaye did not sin by remarrying.

He cited that God detailed that only death separates married couples, adding that Lilian has completed all the necessary traditional processes to remarry.

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Electricity Company of Ghana (ECG)

The International Monetary Fund (IMF) has reported that reduced direct government payments to power producers have offset gains from improved revenue collection at the Electricity Company of Ghana (ECG).

In its latest review report, the Fund said the central government’s reduction in financial interventions had overshadowed a “remarkable surge” in the utility’s operational performance.

It reported that in the first half of 2025, the ECG distributed US$308 million to Independent Power Producers (IPPs) through the Cash Waterfall Mechanism, nearly matching the US$325 million paid in the whole of 2024.

However, the IMF noted that the progress was eclipsed by a US$71 million increase in net payables to IPPs over the same period, bringing the total to US$1.2 billion by the end of June.

The increase was attributed to the reduction in direct government payments, which created a funding gap that improved ECG performance could not fill.

The Fund said the debt continued to rise despite the passage of a fuel levy last year, which was intended to clear legacy debts, finance fuel procurement and support fiscal stabilisation.

It reported that while debts to fuel suppliers declined by US$124 million, they remained high at US$830 million.

The IMF stated that although ECG now covered 48 per cent of its bills, up from 11 per cent in 2024, the government still had to assume a shortfall of more than US$500 million in the first nine months of 2025 for legacy debts and fuel costs.

To address the legacy debt, the government was reported to have reached an agreement with nine IPPs in the third quarter of 2025, involving creditor haircuts of between 15 per cent and 30 per cent, alongside upfront payments of US$300 million.

The remaining balances were scheduled to be settled between 2026 and 2029, while revised Power Purchase Agreements were ratified by Parliament in November 2025 to reduce future generation costs.

The government has allocated GH¢15 billion in the 2026 Budget to cover projected energy sector shortfalls in addition to legacy debt payments.

The IMF noted that although renegotiated PPAs and reduced reliance on expensive liquid fuels had placed Ghana on a positive path, further measures were required to restore ECG’s financial sustainability and reduce persistent fiscal risks.

Mohammed-Mubarak Muntaka is the Minister of Interior

A viral video circulating on social media has sparked public debates after Ghana’s Minister of Interior, Mohammed-Mubarak Muntaka, was seen spraying money on a newly-wedded couple during a wedding celebration.

The video, shared on Facebook, captured the minister smiling as he showered the dancing couple with cash, a moment that quickly gained traction online.

The footage has since drawn mixed reactions from social media users, with some defending the minister and arguing that he was spending his personal money at a private event.

‘I am sincerely sorry’ – Sammy Gyamfi breaks silence on gifting dollars to Agradaa

However, others have strongly criticised the act, describing it as inappropriate for a public officeholder and warning that such displays of wealth send the wrong message to the public.

Critics argue that public officials must be mindful of optics, especially in a period of economic difficulty, noting that justifications such as ‘it is his personal money’ do not suffice for sound judgment.

They caution that the display communicates opulence and, within the current political climate in Ghana, could be damaging to the image of the governing National Democratic Congress (NDC), describing the act as wrong.

Watch the video below:

MRA/AE

Ibrahim Mahama supports disability groups with Christmas donation

Gen Mamady Doumbouya has reneged on his promise not to run for office

Guinea has restricted access to social media platforms TikTok, YouTube and Facebook as the country awaits the final results from Sunday’s presidential election.

Internet monitoring organisation NetBlocks reported that access to the popular sites, via key providers Orange and MTN, had been disrupted.

Initial results published late on Monday show that junta chief Gen Mamady Doumbouya, who took power in a coup for years ago, has taken a huge lead in the presidential race, AFP news agency reports. The main opposition leaders were barred from contesting the poll.

There has been no official comment on the restrictions, but critics see it as an attempt by the junta to stifle criticism of the results.

The 41-year-old general won more than 80% of the vote in numerous districts in capital city Conakry, according to official partial results read out on television by Djenabou Toure, head of the General Directorate of Elections, AFP reports.

A civil society group campaigning for the return of civilian rule condemned the election as a “charade”, while opposition candidates said the poll was marred by irregularities.

Gen Doumbouya had a big lead in several other areas as well, including Boffa and Fria in the west, Gaoual in the north-west, northern Koundara and Labe, and Nzerekore in the south-east, AFP reports.

After overthrowing then-83-year-old President Alpha Condé in 2021, he promised not to seek election and to hand power to a civilian.

“Neither I nor any member of this transition will be a candidate for anything… As soldiers, we value our word very much,” he said at the time.

Gen Doumbouya broke his promise by putting his name on the ballot after a new constitution, implemented in September, permitted him to run for office.

Eight other candidates took part in Sunday’s election, but with the exclusion of main opposition parties RPG Arc en Ciel and UFDG, none of the participants have a solid political footing.

Although he is popular with many of Guinea’s youth, Gen Doumbouya has been criticised for restricting opposition activities, banning protests and stifling press freedom in the run-up to the elections.

The general justified deposing Condé on similar charges – including rampant corruption, disregard for human rights and economic mismanagement.

Guinea has the world’s largest bauxite reserves and some of its richest iron ore. Last month, authorities launched the gigantic Simandou iron-ore mine to widespread anticipation.

However, over half of the population lives in poverty, according to World Bank figures.

Fatawu Issahaku plays for Leicester City

Bournemouth are considering a move for Ghanaian winger Fatawu Issahaku to occupy the right‑wing position and strengthen their squad, following the possible departure of Antoine Semenyo.

According to the Daily Mail, the Premier League side are monitoring Issahaku closely and are looking to sign him in the January transfer window.

It is also reported that Nottingham Forest’s James McAtee is on the list of potential signings who could add creativity and goals from the wings.

2025 AFCON: Late Appollis penalty fires South Africa into knockout stages

Leicester City are said to be demanding £30 million before releasing the player, a price Sunderland and Everton were quoted when they inquired about him last season.

Whether the deal will materialize will be decided in the coming days as Semenyo’s move edges closer.

Meanwhile, Manchester City are reportedly finalizing talks to sign Semenyo, aiming to complete the deal by January 1, 2026.

The Citizens are understood to have agreed to pay his £65 million release clause in three installments to manage their finances.

Arsenal, Chelsea, Tottenham Hotspur, and Manchester United had all shown interest in the Black Stars forward, but some have since withdrawn, while others pulled out entirely.

SB/AE

Meanwhile, watch as Acting Defence Minister Ato Forson inaugurates 9-Member Ministerial Advisory Board

Ashaiman’s stories are being told with accuracy, balance and consistency

For decades, stories from Ashaiman, one of Ghana’s fastest-growing urban communities, have mostly been told through national headlines that focus on crime, congestion, or political moments. While these reports capture certain realities, they often miss the everyday life, civic efforts, and cultural identity of the community.

A shift in community-focused journalism is beginning to change that narrative. At the center of this change is Ashaiman.com, a local digital newsroom created to tell Ashaiman’s stories with accuracy, balance, and consistency.

Filling the Local News Gap

Like many urban areas in Ghana, Ashaiman experiences rapid growth but limited local media attention. National outlets often report only when major incidents occur, leaving gaps in coverage of sanitation issues, small businesses, youth initiatives, arts and culture, local governance, and community events.

Ashaiman.com was established to address this gap by operating as a hyperlocal digital newsroom that publishes news, features, and opinion pieces focused specifically on the community. Rather than waiting for national attention, the platform documents daily life in Ashaiman as it happens.

Community Centered Reporting

What sets Ashaiman.com apart from informal blogs or social media pages is its newsroom structure. Stories are organized into sections such as General News, Business, Health, Arts and Culture, Sports, and Community Opinions. Articles are dated, attributed, and written in the public interest.

Community members are treated as stakeholders, not just readers. Coverage highlights market traders, artisans, youth leaders, entrepreneurs, and local initiatives that rarely appear in national media but are essential to the town’s identity.

Digital First and Locally Grounded

As a digital first newsroom, Ashaiman.com reaches readers through mobile and online platforms. This makes local news accessible to residents, the Ashaiman diaspora, and policymakers beyond the community.

In a time when mobile phones are the main source of information for many people, this approach ensures that local issues remain visible and relevant.

Strengthening Civic Awareness

Local journalism plays a key role in civic engagement. By reporting on sanitation exercises, health walks, town hall meetings, infrastructure projects, and local elections, Ashaiman.com helps residents stay informed about decisions that affect their daily lives.

Over time, this reporting also creates a public record of community activity that can be referenced by researchers, journalists, and residents.

A Model for Hyperlocal Media in Ghana

The rise of platforms like Ashaiman.com reflects a broader shift in Ghana’s media landscape. As traditional newsrooms face challenges, hyperlocal digital outlets are stepping in to provide focused and meaningful coverage at the community level.

Rather than competing with national media, these platforms complement them by providing ground-level context and a local perspective.

Looking Ahead

As Ghana’s urban communities continue to grow, the demand for credible local journalism will increase. Whether platforms like Ashaiman.com can scale sustainably remains to be seen, but their impact is already visible in how community stories are told.

For Ashaiman, this represents a step toward owning its narrative and presenting the community in its full complexity, beyond stereotypes and headlines.

Ethiopian jazz musician Mulatu Astatke smiled as he held his arms aloft to acknowledge his audience.

Last month in London, the 82-year-old pioneer, who has done much to bring his blend of musical styles to the world, played a concert as part of a farewell tour after a six-decade performing career.

Twenty years ago, he gained a wider listenership after the soundtrack for the 2005 Hollywood film Broken Flowers included his music, and the use of one of his recordings in last year’s best-picture-Oscar-nominated Nickel Boys saw further interest.

But since the 1960s he has used the studio and rehearsal room as a laboratory where he has mixed musical styles to create what he calls the “science” of Ethio-jazz.

Outside, it was a cold November evening, but inside the West End venue, Mulatu was bathed in the warm embrace of a crowd eager to get one last glimpse of this alchemist at work.

Dressed in a shirt featuring work by Ethiopian artist Afework Tekle, he slowly and steadily walked on stage.

Squeezing past a set of congas he came to his signature instrument – the vibraphone.

With two pink-felted mallets in his right hand and one in the left, he began to pick out the mesmeric rhythm and melody, expertly striking the xylophone-like metal bars creating a delicate, resonant sound.

The first song was based on a 4th Century tune from the Ethiopian Orthodox church.

It was a nod to his musical heritage and the Ethiopian pentatonic scale that gives his sound its unique flavour when combined with other jazz traditions from around the world.

“It was a beautiful show. Really enjoyed it,” Mulatu told the BBC in his gentle voice after the concert.

But he would not be drawn on how he felt saying goodbye to his international fans.

For US musician and composer Dexter Story the gig was “bittersweet”.

“It was so vibrant and so alive. A reverent and gracious… and wonderful, wonderful energy,” he said.

“I’m very saddened that we won’t have this genius… touring the world.”

But his influence will live on in his recordings.

“My instinct when someone asks me to introduce them to Ethiopian music or to Ethiopian culture is to play Mulatu,” says London-based fan Juweria Dino.

“They have listened to it all over the world,” the musician said with pride. “They loved it. It was so beautiful.”

He remains determined to promote music from Ethiopia and the wider continent which he feels does not get the acknowledgment it deserves.

“Africa has given so much culturally to the world. It is not being recognised as it should be recognised,” he said.

His knowledge of life and culture beyond his home began at an early age.

Mulatu was born in 1943 in Jimma, south-western Ethiopia. As a teenager, his parents sent him to Lindisfarne College, near Wrexham in North Wales, to continue his education.

“I wanted to study engineering,” he said.

But during his time there, Mulatu got drawn into the world of music, first taking up the trumpet. The headmaster at the time noticed his natural talent and eventually encouraged him to devote more of his energy to developing that gift.

“After I finished my school, they were telling me: ‘Mulatu, if you become a musician, you will be successful.’ So, I followed their advice. I went to Trinity College here in London.”

He remembers this period at one of the UK’s foremost music colleges as a formative part of his journey. He has fond memories of jamming in jazz clubs with his musician friends.

“[Jamaican] Joe Harriot was one of the greatest alto saxophone players and we used to play together at a place called the Metro Club in London,” he said.

To this day, Mulatu holds the UK close to his heart.

“To me it was so really great to be back again here.”

In the 1960s, Mulatu moved to the US to enrol at Berklee College of Music in Boston – the first African to do so.

He studied vibraphone and percussion and began incorporating Latin jazz into his own music, recording his first two albums.

But it was only when he returned to Addis Ababa in 1969 that he created his own sound.

He changed the face of music at home during these “Swinging Addis” years. Using what he had learned at Berklee and combining it with Ethiopian modes, he “created this science called Ethio-jazz”, Mulatu said.

Initially his radical sound was met with complaints.

“I remember them telling me ‘get off, stop, stop there’. Because they don’t understand.”

But the resistance did not last long and his influence quickly grew.

In 1974, after Emperor Haile Selassie was deposed in a coup, many musicians left the country, but Mulatu stayed in Addis and kept making music.

Throughout his career, his deepest inspiration came from traditional musicians back home, who he calls “our scientists”.

His tracks weave together traditional instruments from his homeland like the washint (flute), kebero (drum), and the masenqo, a single-stringed fiddle.

Mulatu describes the masenqo as sounding exactly like a cello.

“But the question is, who came first? Was it the cello or the masenqo?” he asked.

“The problem is we don’t do research. We have so many great scientists in Africa. Great people, geniuses, who created all these instruments. But we don’t give them credit.”

Today, he says his mission is to broaden the range of the traditional instruments of his homeland by “computerising” the sound.

For his fans, it is his unique blend of the modern and traditional that makes Ethio-jazz so special.

“It reminds me a lot of music from South Asia, melded with the pentatonic scale which reminds me more of Arab music, along with the African percussion sounds that come through,” said concert-goer Joseph Badawi-Crook.

“It’s a completely unique mix and I just fell in love with it years ago.”

Mulatu’s legacy spans generations.

“Some of our grandparents or our parents or our aunts or our uncles, have seen Mulatu throughout his career,” said London-based Ethiopian fan Solliana Kineferigb.

“To also be part of the younger generation and to have the opportunity to still see him live is amazing.”

While the touring may soon be over, Mulatu pledges to continue to bring Ethiopian music to the world.

“It’s not the end,” he said.

Many top British media outlets reported Anthony Joshua’s accident

The British media carried various narratives after two‑time heavyweight champion Anthony Joshua was involved in a tragic car accident in Ogun State, Nigeria, on Monday, December 29, 2025.

The fatal crash occurred on a busy highway in Makun, just hours after Joshua and his associates had reportedly spent time playing tennis together.

Reports indicate that the vehicle he was travelling in collided with a stationary truck, an incident that tragically claimed the lives of two people, while Joshua reportedly sustained minor injuries.

Anthony Joshua’s coach and close friend among accident fatalities – Reports

In a video circulating on social media, Joshua was seen shirtless as bystanders and members of his entourage assisted him out of the car.

However, Joshua’s two friends, Kevin Latif Ayodele and Sina Ghami, have been confirmed dead, as they could not survive the injuries sustained in the crash.

Authorities continue to investigate the circumstances of the accident.

Officials have also urged the public to avoid speculation as they work to determine the full details, while tributes and messages of sympathy pour in for the families of the deceased.

The incident was widely reported by British media outlets, with some describing it as “Joshua cheated death,” given the horrific nature of the accident and the fact that he survived while others tragically lost their lives.

Read the reportages by some of the media houses below:

Sky Sports

BBC

Daily Mail

The Sun

The Mirror

SB/AE

Also, watch why taxi and trotro operators are cautioning the govt about the Traffic Amendment Bill

First baby mama of Nigerian singer, David Adeleke, better known as Davido, Sophia Momodu, has warned fans against referring to her as the wife of the music star.

Naija News reports that Sophia, during an Instagram live session, recounted her experience with a male content creator who publicly referred to her as “OBO’s wife.

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The Nalerigu Youth Association has condemned recent incidents involving the burning of two houses and an attempted arson attack on a vehicle, insisting that the acts were criminal and not the result of communal or tribal conflict.

In a statement issued on Tuesday, December 30, 2025, the youth described the incidents as “purely criminal” and urged the public to reject narratives portraying the situation as factional violence.

They stressed that Nalerigu remains a peaceful and united community, where people of diverse ethnic and tribal backgrounds coexist harmoniously, adding that there is no fighting in the town.

According to the association, efforts are ongoing to sensitise the youth to refrain from misconduct and to cooperate fully with security agencies to maintain peace and public order.

“The unfortunate incidents recorded are isolated criminal acts,” the statement said, noting that the perpetrators are allegedly non-indigenes. The group therefore called on security agencies to intensify intelligence-led operations to identify, arrest and prosecute those responsible in accordance with the law.

While expressing support for security interventions, the youth raised concerns about the repeated imposition of curfews following such incidents, saying the measures have caused hardship for law-abiding residents and unfairly projected Nalerigu as a conflict-prone area.

They highlighted restrictions on motorbike use and the wearing of smocks, explaining that motorbikes are the primary means of transportation in the area. The group said the restrictions disrupted livelihoods, economic activities and daily movement, with significant impact during the Christmas festivities.

The association appealed to authorities to urgently review the restrictions and adopt more targeted, intelligence-driven approaches that address criminal activity without unduly affecting innocent residents.

They assured Ghanaians and the international community that Nalerigu remains peaceful, safe and welcoming, encouraging investors and business partners to continue engaging with confidence.

“Nalerigu is peaceful, secure, and open for business,” the statement said.

Citizens protested when there was coup in Guinea

October’s shocking events in Tanzania offer a snapshot of some of the tensions which have shaped a difficult year for African politics.

Demonstrators were shot dead by police while protesting against what they saw as a rigged election – condemned by regional and continental bodies – shattering the country’s reputation for peace and stability.

With opposition candidates either imprisoned or barred from running, President Samia Suluhu Hassan was elected with 98% of the votes.

Any moves towards Tanzania becoming a more open democracy had been seemingly reversed.

From Mali to Guinea-Bissau: Africa’s new era of coups

Arguably what happened there highlighted a broader breakdown in many African nations between the people and those who govern them.

Several countries saw protests and election disputes in 2025, while military leaders cemented their power in others, with analysts believing next year could bring more upheaval.

“If we look at the overall picture across the continent, the trend is worrying,” said Mo Ibrahim, whose foundation analyses data to assess the state of African governance.

Its most recent report suggests that in its measure of governance, which includes things like security, participation in decision-making and the state of health and education, progress has stalled when compared to the decade up to 2022.

“The increase in coups [in recent years], the return of military governments and the closing of democratic space all point to the same problem: a failure of governance.”

The spike in the cost of living has been the spark that lit the fire of dissatisfaction in many places. This was not unique to the continent but, as Mr Ibrahim told the BBC, “the risk for Africa is that these negative patterns spread unchecked, much of the hard-won progress achieved over recent decades could be reversed”.

AFP via Getty Images A group of people hold up a giant image of the head of Lazarus Chakwera that has been torn down from a billboard.

Supporters of Malawi’s Peter Mutharika celebrated his election victory with a torn billboard image of his rival, incumbent Lazarus Chakwera

For those who believe that democracy is the best way to channel the demands of the population, there have been some points of positivity in 2025 with peaceful transfers of power and free and fair elections.

In Malawi the country’s former leader, Peter Mutharika, won back the presidency after a period in opposition. Seychelles saw long-term ruling party United Seychelles returned to office, five years after losing power.

Both incumbents lost in part because of a perceived failure to mitigate the impact of inflation. These results followed other setbacks for ruling parties in 2024.

In South Africa, the African National Congress lost its overall majority for the first time since 1994 and entered a power-sharing government with its main opposition.

In Senegal, a combination of street protests and the courts prevented apparent attempts by the president to extend his time in office and a relative unknown was elected president after the main opposition leader was barred.

But analysts point to shifts elsewhere as evidence that democracy on the continent is being challenged.

Perhaps no more so than through the consolidation of the power of military-led governments across West Africa’s Sahel region.

Mali, Niger, and Burkina Faso all split from the regional bloc, Ecowas, forming a new alliance of governments which seized power through coups.

Also, watch why taxi and trotro operators are cautioning the govt about the Traffic Amendment Bill

Dr Osei Kwame Despite
Dr Osei Kwame Despite, a Businessman and media mogul, has revealed he owns a 700-acre salt production with over 600 workers.
According to Kwame Despite, he exports salt across Africa and questioned why it surprises people when he enjoys luxury cars despite his investments.
He quizzed his critics, questioning him on spending his wealth on luxury cars.
According to Kwame Despite, people are free to say what they want.
Speaking during an interview, Dr Osei Kwame Despite stated, “Whatever

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National Chairman of the National Democratic Congress (NDC), Johnson Asiedu Nketia, has stressed that the enforcement of law and order in Bawku is non-negotiable and must be carried out in a professional, fair, and unbiased manner.

Speaking at the 2025 Samanpiid Festival, an annual cultural celebration of the Kusaug people in the Upper East Region, Mr Nketia emphasized that lasting peace in Bawku can only be achieved when the rule of law is respected and enforced without favoritism.

He underscored the need for continued support for traditional mediation and reconciliation processes, describing them as essential tools for resolving long-standing conflicts in the area.

According to him, security interventions alone cannot guarantee peace without sincere dialogue and community-led reconciliation efforts.

Mr. Asiedu Nketia further highlighted the critical role of traditional authorities in peacebuilding, urging them to remain proactive and effective in promoting harmony among the people.

He noted that the success of any peace initiative largely depends on the commitment of traditional leaders to unity and fairness.

“The quality of every governance is measured by the extent to which minority rights are protected. The recognition of the Kusaug authority in Bawku must not be interpreted to mean the extinguishing of the rights of other minority ethnic groups in the area, to live in peace, to go about their businesses, as free citizens of the Republic of Ghana,” he stated, adding that inclusiveness is fundamental to national stability and development.

Using a symbolic analogy, the NDC Chairman remarked that Kusaug represents the head of the Bawku human body, stressing that no part of the body, whether the head or the legs, can be left behind.

He explained that peace and development in Bawku require collective effort and mutual respect among all groups.

Mr Nketia also called on the Zugraan, the Overlord of Kusaug, Naba Asigri Abugrago Azoka II, to continue supporting dialogue, mediation, and reconciliation to sustain and strengthen peace in the area.

“As the Overlord, [you are] responsible for the protection of all inhabitants of Bawku, and not just the Kusaas ethnic group. No peace efforts in Bawku can succeed without your guidance, leadership and unwavering commitment,” Mr. Nketia stated.

He acknowledged Zugraan’s efforts and emphasised that achieving and maintaining peace in Bawku is impossible without the active involvement and leadership of traditional authorities.

Also speaking at the festival, a peace and security expert, Emmanuel Bombande, called on all residents of Bawku and its surrounding communities to embrace coexistence and commit themselves to peacebuilding.

He emphasised that the implementation of law and order remains a critical foundation for sustaining peace, stressing that everyone is protected and safeguarded by the state, regardless of ethnic or political affiliation.

Mr. Bombande commended Asantehene Otumfuo Osei Tutu II for his well-thought-out mediation process, which ensured that all parties involved in the conflict were given a fair hearing.

He further expressed gratitude to the President of the Republic for implementing the recommendations that emerged from Otumfuo’s peace initiative.

“We have all won,” he noted, explaining that peace efforts should not be seen as a victory for one group over another, but as a collective gain for the entire nation. He urged the people to unite and move forward, rather than allowing themselves to be held back by past tragedies.

Mr. Bombande also encouraged musicians and creative artists in the area to use their talents to promote songs of unity, peace, and coexistence, noting that music has the power to heal wounds and bring communities together.

He also called on all stakeholders to remain committed to dialogue, reconciliation, and mutual respect as the surest path to lasting peace in Bawku.

Thousands of people across the country, including the Majority Leader in parliament, Mahama Ayariga, and other members of parliament attended the event.

The Samanpiid Festival is an annual post-harvest thanksgiving event celebrated by the people of the Kusaug Traditional Area in the Upper East Region of Ghana. It is held to thank God and the ancestral spirits for a successful farming season, as well as for their protection and guidance.

The festival was not always celebrated as a single, and unified event. Before 1987, Samanpiid was celebrated separately by different Kusaas clans, each taking turns to hold the festival at the clan level.

In 1987, all the Kusaas clans came together for the first time to celebrate Samanpiid as a centralized festival. Since then, it has been observed as a unified annual celebration for the entire Kusaug Traditional Area.

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.

A nine-member Ministerial Advisory Board has been inaugurated to support the Ministry of Defence in delivering on its mandate.

The board includes Minister of Finance Dr Casiel Ato Forson, who currently serves as Acting Minister of Defence, and Deputy Defence Minister Ernest Brogya Genfi.

The swearing-in took place during a brief ceremony at the ministry.

Pressure mounts on President Mahama to appoint defence minister

In an address on December 29, 2025, Dr Forson emphasised that the ministry’s primary responsibility is to oversee the Ghana Armed Forces and ensure the country’s territorial integrity.

He added that the advisory board’s role is to complement the ministry’s work by providing strategic guidance and oversight.

“Territorial integrity is of critical importance to President Mahama as Commander-in-Chief of the Armed Forces. This board is, therefore, essential to strengthen our defence policy and oversight,” Dr Ato Forson stated.

The first board meeting is scheduled for the second week of 2026, where members are expected to deliberate on key issues affecting the Ministry of Defence.

Minister of Defense inaugurates DIHOC governing board

Dr Ato Forson called on the board members, drawn from public and private sectors, veterans, academia, and civil society, to serve with diligence and commitment to achieve the objectives of the board.

The diverse composition of the board is intended to ensure holistic, effective defence policy, strategic advice, and accountability.

Watch the video below:

Acting Defence Minister Ato Forson inaugurates 9-Member Ministerial Advisory Board

MRA/AE

Mahama promises Alan Kyerematen ‘a very special place’ ahead of AU chair position:

TWI NEWS

King Paluta has been thrilling fans with some memorable performances

Ghanaian music sensation King Paluta has dropped a new single ‘Ewor Me’ that is already making waves across the music scene, setting the stage for a strong finish to the year.

The track, which features Highlife legend Kwabena Kwabena, is available on all major streaming platforms and has fans buzzing with excitement especially on TikTok.

The release comes despite controversy surrounding King Paluta’s interaction with a fan during his London concert earlier in the year.

Far from slowing down, the 2025 Most Popular Song of the Year winner continues to deliver chart-worthy hits, proving his resilience and dominance in the industry.

Adding to his momentum, King Paluta recently wowed audiences with a standout performance at the 2025 AfroFuture Concert, cementing his reputation as one of Ghana’s most electrifying music talents and performers.

He is gearing up to host his own headline concert on December 30 in Atonsu, Kumasi, promising an unforgettable night for fans.

With a new hit single, a major festival performance, and an upcoming homecoming show, King Paluta is closing out the year in style and setting the tone for an even bigger 2026.

Public policy advocacy is a constant wrestle between precision/rigour and clarity. I thought my recent piece on the GoldBod losses saga was comprehensive, and therefore convenient. But even finance-steeped friends reached out to advise that I need to get more focused.

Three key questions, in their view, are confusing people, and clearing them up would do far more good for the important debate than discussing “accounting treatment” disputes.

The Questions

How exactly did GoldBod incur losses?
Even if GoldBod incurred losses, are they significant?
But even if significant losses have occurred, aren’t they vastly offset by the benefits of the Cedi’s stability in recent years?

Questions 2 and 3 are, obviously, tightly linked.

I will try and be super-focused and just walk readers through my reasoning without any philosophical meandering.

The Answers

Part I: How did the losses come about

According to the IMF, GoldBod sold about $5 billion to the Bank of Ghana (BoG) “aggregated” from small-scale and artisanal (ASM) gold miners.

2. It also bought $2.6 billion from legacy sources, including large-scale mining companies, outside the GoldBod channel.

3. It then spent about $10 billion intervening in the foreign exchange (FX) market to deliver the Cedi stability Ghanaians are now enjoying.

4. It still has ~$11.4 billion of “reserves”, of which at least $3.58 billion is made up of gold bullion. I say “at least” because BoG uses a conservative valuation for its gold holdings. Using spot prices today (not advisable) would imply $5.3 billion of gold in over $13 billion of reserves.

5. Trust me, all these numbers are relevant. You will soon see, so keep track.

6. The IMF says that the gold that was bought from local ASM miners led to a loss of 4.28% ($214 million). That is to say the dollar value of the Cedis supplied by the BoG to the miners through GoldBod and the dollars delivered to the BoG from the overseas buyers (we shall call them “off-takers”) don’t match; there is a shortfall.

7. (Note: we are all dependent on the IMF’s data because the IMF is the only entity the government would give such data to.)

8. How that arises is not difficult to explain at all. I will walk readers through two hypothetical transactions using real market numbers for two separate days.

9. Let’s start with 10th December 2025.

The LBMA benchmark for 24 carats/K gold (think of this as the “global price for pure gold”) was: USD 4,196 per troy ounce (think of this as the unit in which gold is sold internationally).
The official exchange rate used by GoldBod: 11.42 GHS/USD
GoldBod price per Ghana pound (23 carats/K) was: GHS 11,446 (the “Ghana pound” is the main local unit for gold; 23 carats is the usual assay benchmark locally).
The now famous bonus offered by GoldBod to local miners to encourage them to sell: GHS 650 per Ghana pound of 23K.
Convert 23K “pound” to 24K equivalent = 11,943.652 GHS per Ghana pound of 24K
Convert Ghana pound to ounces = 47,934.078 GHS
Convert to USD = USD 4,197.380
The result is a tiny premium (GoldBod is paying more for local gold than it can sell internationally).
Premium vs 4,196 = USD 1.38/oz; Percent = +0.033%
Now add the bonus on top of the 23K price per Ghana pound: 11,446 + 650 = 12,096 GHS (23K)
Convert to 24K equivalent = 12,621.913 GHS (per Ghana pound of 24K)
Convert to troy oz = 50,656.178 GHS per troy oz (24K)
Convert to USD = USD 4,435.742
Premium = 4,435.742 − 4,196 = USD 239.742 per ounce
Percent = 239.742 / 4,196 = 5.714%

10. So, on that day, GoldBod lost 5.714% just on the buying side. Even if it had sold at the full international price, it would still have lost money. We shall explain in a moment why it can’t really sell at the full international price, either.

11. Now, let’s take today, the 29th of December.

GoldBod quotes GHS 11,467 per Ghana pound
Per ounce equivalent = GHS 46,023.112
Per USD per ounce at official exchange rate of 11.10 = USD 4,146.22
Compare to the “world market price” of USD 4,325
Implied Discount (GoldBod is making a marginal profit) = USD 178.774
In percentage terms = 4.13% discount
But remember the bonus!
With bonus = GHS 12,117 total per Ghana pound
Ounce equivalent = GHS 48,631.789
USD equivalent = USD 4,381.242
Implied Premium = USD 56.242
Premium % = 1.30% premium (GoldBod is making a loss of 1.30% per trade)

12. It should be obvious what is happening here: ASM gold was a relatively efficient market in Ghana for many years with many buyers and many sellers until GoldBod was imposed on the system. The miners were used to getting as much of the “world price” as possible. They sold through lean, mean, and highly efficient intermediaries with very low costs who could time the onward sale to maximise their margin.

13. In the current model, GoldBod buys all the gold in the ASM market and must be ready to buy at all times and deliver to offtakers in all weather. It must offer close to market rate across the board all lose to smugglers or from miners and local traders just hoarding the gold. On the domestic, buying, side, things are that simple.

14. On the external, selling, side, GoldBod must sell at a discount to World prices because one has to factor in freight, insurance, and the assay verification and other costs on the importer’s side since this is the dore (raw gold) market outside a trusted exchange. The importer/offtaker takes a risk and must be compensated.

15. The importer/offtaker also advances dollars to the Bank of Ghana/GoldBod because the liquidity needs of the BoG are pressing and fast settlement is vital for that reason. That is also a risk that the offtaker must be compensated for.

16. In India, dore gold has favourable customs treatment because the Indian government wants to promote refining in India. If the gold was being refined in Ghana, GoldBod would have been hit by additional discounts because the importer/offtaker’s custom duties would have increased.

17. In short, when you displace a large, heterogenous, group of buyers, sellers, and intermediaries, with a very concentrated ecosystem of a super-aggregator (Bawa Rock), a few mega offtakers in India and Dubai, and one ultra-intermediary (GoldBod), you can get efficiency but risks can also concentrate and by the time you compensate for those risks, there would be losses.

Part II: Are the losses even significant?

18. If GoldBod was operating strictly using its own capital, yes!

19. In 2025, GoldBod was allocated $279 million as working capital but the Finance Ministry did not disbursed. We can interpret this to mean that the Ministry was unclear about its trading strategy of model.

20. But assuming it had disbursed and this was the only fiscal buffer available to the GoldBod, not the limitless-seeming Bank of Ghana tap. Then:

Consider losses on the ASM doré leg at US$214 million through end-Q3 2025 (i.e. about 9 months).
Annualising that run-rate gives roughly:

– Now assume GoldBod’s only loss-absorbing capital is the Ministry of Finance allocation of US$279 million.

Time to wipe-out (straight-line, assuming no recapitalisation)

In effect, it would take 12 months for GoldBod to become functionally insolvent if it continued operating at the same scale and loss structure.
Do you realise though that the Ministry of Finance would be forced to recapitalise it due to political reasons? You see why some of us are arguing that this is a fiscal subsidy that must be transparently borne by the policy owners?
In fact, a more conservative “functional insolvency” trigger is when half the buffer is gone.
Half of US$279m = US$139.5m.
At ~US$285m/yr loss rate:

Operationally: you would expect serious stress within ~6 months, and likely failure within ~12 months, absent a bailout or a major restructuring of the model.

21, Remember that Cocobod is a policy institution too. Yet, we have all been witnessed to how capital stress has damaged it.

22. Using SIGA and Auditor General reports, we have attempted to construct similar loss-per-turnover numbers for Cocobod below.

23. See the numbers for Cocobod below:

24. As readers can judge themselves, Cocobod records significantly lower losses benchmarked against the reported GoldBod losses.

25. The self-evident implication is that even as a policy organ of the government of Ghana (GoG), a consistent near- 5% loss on annual turnover by any would seriously stress its sponsoring government.

26. Bear in mind that the loss prospect could amplify if a single off-taker refused delivery, a prospect far from remote given the current level of concentration.

Part III: But don’t the benefits far outweigh the costs?

27. This is obviously the most complex part of the analysis. But if readers bear with me and follow the numbers, they should be fine.

28. It is a trivial point for everyone to grasp regardless of their economics knowledge that no one factor alone explains exchange rate movements. Surveys of economists by popular research houses normally surface more than 15 major factors.

29. In Ghana, we know that the fiscal deficit and how it is financed, inflation, export performance, and a whole host of factors both influence the exchange rate and are in turn influenced by it.

30. No serious person would thus attribute the stability being enjoyed by the Cedi so far to just one factor, such as the policy innovation represented by the GoldBod.

31. The right question thus is: how much of the Cedi’s stability should we attribute to the GoldBod and through what mechanism has it been exerting its influence? (Some of us have held the position for a while now that the Ghana Cedi is overvalued, and that it has moved from a generally managed float regime to a substantially managed peg one. But that is a separate debate. What is relevant is twofold: a) how the government found the capacity to manage the peg (never a trivial undertaking as the UK learnt on Black Wednesday) and b) whether macro-indicators, such as inflation, move in a manner that makes the peg sustainable.)

32. First, we know that the only plausible mechanism is through the “gold dollars” the GoldBod has diverted from commercial banks and parallel forex markets (which used to get most of the dollars from ASM gold, including even the smuggled portion since smugglers still need Cedis eventually to continue their nefarious trade) to the central bank. The BoG uses these dollars to cushion the Cedi.

33. Remember, however, that only about half of the funds used by the BoG to intervene in the FX market comes from the GoldBod. The remaining 50% comes from other exporters and large-scale gold mines, as well as IMF and other official financial flows. So, whatever impact we attribute to the BoG’s interventions (and remember that intervention alone can never halt depreciation), 50% is what we must attribute to the GoldBod.

34. Second, we know that gold prices have risen dramatically. This has nothing to do with the GoldBod but it is on course to nearly triple the amount of gold dollars in the system compared to, say, 2023.

35. If we use year-end values, the Cedi has risen from 14.7 (2024/12) to the US dollar to 11.14 to the US dollar (2025/12). That is a near -25% appreciation rate.

36. From the historical gold-Cedi relationship, we estimate a lagged effect of 3.9 percentage points appreciation in the Cedi if gold prices rise by 10%. The financial return on gold in 2025 is ~72%. Through a complex series of technical calculations to fix temporality and directionality, we estimate that 8.4% of the Cedi’s appreciation is due to the rise of the gold price through the export channel.

37. It is important to note that gold as a share of exports in Ghana has risen from the mid-30% range about two decades ago to roughly 65% today (double the long-run 2-decade average), a sign of insane overdependency on the commodity’s price rally.

38. The simple result of the above analysis to isolate the GoldBod’s effect is that of the ~25% appreciation rate, the GoldBod must share with other factors a maximal bound of 8% (that is half of the positive residual after accounting for the gold price rally’s effect on export performance).

39. A lot of other complex calculations follow to determine the impact to be allocated to the IMF-supervised fiscal consolidation and primary balance enforcement and its influence on money supply; the impact of the improved harvests (primarily a function of rainfall) on food inflation; the debt restructuring effort and the resulting relief from debt servicing; and the fall in interest rates, which appears to have been primarily driven by Finance Ministry policy. All these have had some complex direct or indirect effect on the Cedi.

40. It would be difficult in light of all the above to assign more than 3 percentage points of the 25% Cedi appreciation to the role the GoldBod has played in resourcing the Bank of Ghana’s FX market intervention capacity. Even those who will disagree with this specific estimate cannot dispute the logic of capping GoldBod’s contribution.

41. A 3% appreciation corresponds to about $600 million in relief on the import bill front. A significantly higher number than the $214 million we have been quarreling about.

42. Don’t get me wrong. It is a significant new development that we must all respectfully follow. But it serves no one’s interest, lest of all GoldBod management’s, if we start blowing up expectations. That would amount to setting them up to fail.

43. But we must not be oblivious about the costs of central bank intervention. The cost-benefit ledger extends to that aspect too. As I will show shortly, things don’t end at $600 million in “import burden relief”. Relax, I am not going to try and offset the relief with any speculative symmetric pressure on exporters. There is something more interesting to explore.

44. When BoG (via GoldBod) purchases gold locally in Cedis, it creates new Cedi liquidity. If BoG sterilises (mops up) that liquidity through Open Market Operations (OMO), it converts a monetary expansion into a recurring interest expense.

45. OMO simply means it borrows money from banks and other large institutions to “back” the paper money it has created (keeping things simple.) That money doesn’t come free.

46. On a US$5 billion gold purchase base, sterilising the Cedi created by that purchase through OMO transactions costs the central bank roughly GHS 11–13bn every year at realistic BoG OMO rates.

47. It is thus possible that the BoG will announce losses for this year. In addition to all the opacity and shadowy dealings, these fiscal stresses are the reason why some of us have been consistently wary and apprehensive about all these gold programs. Who has noticed that since the Gold-for-Oil program was terminated there has been no discernible impact at the fuel pumps? Who really was that program serving?

48. Remember also that we have only accounted for GoldBod losses in the Gold-for-Reserves intervention program. If even the other half of the intervention budget implies half of GoldBod’s trading losses, the total costs of the program would easily neutralize the $600 million in import burden relief calculated earlier (not accounting for sterilization costs of the other half of the intervention budget to avoid double-counting).

49. In simple terms, the GoldBod-backed intervention program yields no net benefit to the extent that it does not cover enough of the BoG’s need nor alleviate import burden sufficiently.

50. But that is still in neutral territory. It implies, at worst, that the GoldBod approach once its full costs become transparent cease being the miracle that on the surface it appears to be.

51. There is a more worrying issue. The GoldBod-backed intervention program is generally cost-neutral only whilst the price of gold remains elevated.

52. Readers may recall that the BoG stores some of the gold in its reserves and relies on a liquidity conversion cycle to turn the gold dollars into a cedi cushion in the domestic FX markets. Imagine a sudden drop in the price of gold, perhaps to its historic two-decade mean in the $2000-ish range.

53. Because of the policy commitments, BoG cannot simply suspend the program in its entirety. Not when funds have been advanced and long- or medium-term supply obligations have been established.

54. In such a bear market downside scenario, the BoG’s gold reserves would suddenly lose value in the multibillion-dollar range.

55. Gold bought at the height of the market could then only be liquidated for Cedi cushioning at less than half their value. That would imply printing even more Cedis to underwrite the effort. It is unbelievable how pro-cyclical the whole thing is until you work through all the risk-scenarios.

56. To repeat: the whole GoldBod thing can persist in a reasonably contained manner if the price of gold stays high and volatility continues to tilt upwards than downwards most of the time.

57. A significant drop in the price of gold would hit the program very hard. But then again the entire export channel will implode anyway.

58. Gold is now the real risk-driver for the economy. An important lesson in all of this is that the country should stop bifurcating its budget design into oil and non-oil and use gold and non-gold.

59. As for GoldBod, the more transparency there is, the better prepared this country would be when the markets turn and deft navigation is needed to prevent it from skidding off the tracks.

60. Hopefully, this tightly focused piece has done a better job in addressing the three questions on the minds of many readers.