International Monetary Fund (IMF)

The International Monetary Fund (IMF) has endorsed Ghana’s fiscal discipline and structural reforms under President John Mahama’s administration for taking decisive steps to keep Ghana’s economic recovery programme on course.

This comes on the back of Ghana’s successful completion of the IMF Executive Board’s Fourth Review of its Extended Credit Facility (ECF).

In a statement released by the fund as sighted by GhanaWeb Business, the IMF commended the administration’s “bold corrective actions” aimed at restoring fiscal discipline and macroeconomic stability.

It noted that these efforts combined with ongoing structural reforms and a stronger external position are expected to help Ghana build resilience and drive more inclusive and sustainable economic growth.

“The authorities are strongly committed to restoring fiscal discipline and addressing the structural weaknesses that led to past slippages. They have passed a 2025 budget aligned with the programme’s goals and have enacted an enhanced fiscal responsibility framework. Staying the course of fiscal adjustment and completing the debt restructuring remain critical to ensuring fiscal sustainability,” the fund noted.

According to the Fund, Ghana’s 2025 national budget is fully aligned with the ECF programme, and a new fiscal responsibility framework has been enacted to prevent a repeat of past slippages.

“Staying the course on fiscal adjustments and completing the debt restructuring process will be essential to maintaining long-term fiscal sustainability,” the IMF said.

The Fund also emphasised the need for stronger domestic revenue mobilisation, stricter expenditure controls, and increased fiscal space to fund development and social protection programmes.

It however called for urgent action to address deep-rooted challenges in the energy sector particularly legacy arrears which continue to pose fiscal risks.

The IMF concluded by stressing the importance of improving crisis management frameworks, strengthening financial safety nets, and resolving legacy issues within specialised deposit-taking institutions.

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Samuel Ackon 

Assin Fosu (C/R), July 8, GNA- The Fosu College of Education (FOSCO) chapter of the Tertiary Education Institution Network (TEIN) of the National Democratic Congress (NDC), has inaugurated a new batch of executives led by Mr Adams K Mohammed to steer the affairs of the network and make it attractive to all. 

A total of 15 executive members were officially sworn into office at an Inauguration on the FOSCO campus. 

The Inauguration was on the theme: “Passing the torch, building on the foundation, a new chapter and legacy.” 

According to Mr Theophilus Awartey, outgoing President of TEIN, the network seeks to mobilise and empower students to participate in politics and advocate for the best interest of the youth on campus. 

In addition, he noted that TEIN played a crucial role in the year 2024 general elections as they mobilised students to be trained as party agents in the constituency and beyond and participated in rallies and events that helped to increase NDC’s visibility and popularity among young voters. 

Mr Awartey acknowledged the pivotal roles played by the NDC Assin Central Constituency and Central Regional Executives’ during his tenure of office and asked for God’s blessings on them for every resources they injected into the network. 

 He tasked the new president to uphold the values of TEIN in high esteem on campus, canvass for more youth to join, and collaborate with his executives for informed decisions for the betterment of the network. 

Mr Mohammed, the new president, pledged to work in concert with all stakeholders and make TEIN more attractive to all as he discharged his duties without fail. 

He called for cooperation from Party executives in the constituency and at the regional level to help achieve his dreams for the network. 

Mr Jonathan Birikorang, District Chief Executive (DCE) for Assin South, who chaired the function, told the students to strive for excellence, embrace leadership roles, entrepreneurship and skills development. 

He emphasised the importance of networking, building relationships and connecting with like-minded individuals to unlock future opportunities. 

In attendance was Mr Sylvester Amakye, DCE, Assin North District, Mr Gariba Adams Assin Central Municipal Chief Executive, Mr Migyimah Shaibu Nurein Member of Parliament, Assin Central Constituency, Mr Stephen Kofi Baidoo, former aspiring MP in the Assin South Constituency and other high ranking members of the NDC. 

GNA 

Edited by Alice Tettey/Christian Akorlie  

Dr Cassiel Ato Forson is the Minister of Finance

The Minister of Finance, Dr Cassiel Ato Forson, has noted that over $12 billion worth of gold, translating to 600 tonnes, has been smuggled in Ghana over the last ten years.

According to him, the issue of gold smuggling in Ghana has caused immense financial loss to the economy.

He noted that the consequences of this problem leave Ghana at the mercy of foreign aid, seeking far less.

Speaking at the inauguration of the GoldBod Task Force on July 8, 2025, he noted that, “For too long, illicit smuggling has deprived our economy of billions in revenue and foreign exchange. This nation-wrecking act has gone on for far too long, and the consequences have been very dire.

“For example, at the peak of our economic crisis in 2022, 60 tonnes of gold worth an estimated $1.2 billion at the time left Ghana through illegal channels. That amount was nearly half of what Ghana was seeking from the IMF as a bailout.

He noted that if this issue is resolved, the revenue from gold trading can boost the country’s foreign exchange reserves and help solve several economic problems Ghana faces.

“It is estimated that about 600 tonnes of gold have been smuggled out of our country in the last ten years, valued at over $12 billion. Imagine $12 billion translating into foreign exchange and supporting Ghana’s reserves position.

“Or imagine the number of hospitals, schools, water and roads that revenue from these smuggled gold resources could have been used for. It is time for us to be decisive and ruthless towards those who are sabotaging the economy of Ghana. Ghanaians deserve better,” he said.

Dr Ato Forson pledged his support for the new Goldbod task force, emphasising the need to safeguard the country’s resources and reserves.

“Defeating the gold smuggling syndicate will place our country firmly in control of our gold resources and ensure that Ghana benefits fully from its gold. As the sector Minister, I make a solemn pledge to support the Ghana Gold Board,” he concluded.

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The Constituency Secretary of the New Patriotic Party (NPP) in Ablekuma North, Frederick Green, has questioned the credibility of the Electoral Commission (EC) following its decision to conduct a parliamentary rerun in 19 polling stations within the constituency.

This follows an earlier announcement by the NPP leadership rejecting the EC’s decision to conduct a rerun in the selected polling stations, where the party maintains its candidate, Akua Afriyie, secured a clear and legitimate victory during the 2024 parliamentary elections.

In an exclusive interview on Channel One Newsroom on Tuesday, July 8, Green expressed concern over what he described as inconsistencies in the EC’s position.

He noted that the Commission had previously informed Parliament that only three polling station results remained to be collated, but later announced a rerun in 19 polling stations.

He further argued that the EC lacked the legal authority to declare a rerun, emphasising that such a decision can only be made by a court of competent jurisdiction.

“What is happening? It tells us that the EC can never be a credible organisation for me, and I am sorry to say this. It is just as it is. Which powers does the EC have to declare a rerun? It is only a court of competent jurisdiction that can declare. It is nowhere in the Constitution.

“The NPP is firm on this, and we are only asking EC that let’s stick with the three. If you ask us to go for elections on the three, we can compromise, but how did they come by the 19 polling stations in the first place?” he questioned.

Meanwhile, the NPP has filed a court application seeking an injunction to halt the planned rerun.

The rerun has been scheduled for Friday, July 11.

NPP boycotts Ablekuma North rerun

The Ghana National Poultry Farmers Association is gravely concerned over the government’s failure to engage leadership of the association over the implementation of its flagship ‘Nkoko Nkitinkiti’ poultry initiative.

The groundbreaking project aims to reduce Ghana’s reliance on imported poultry products with over 55,000 households expected to be roped into poultry production.

As the project is set for roll-out this month, the poultry farmers say efforts to hold meetings with the government on modalities for the project have failed.

Western Regional Vice Chairperson of the poultry farmers association, Francis Nsiah, is not enthused about the Food and Agriculture Ministry’s non-engagement.

Speaking on the sidelines of a five-day capacity-building workshop in the poultry sector, he urged the ministry to reconsider its strategy and adopt a more inclusive approach.

“We are the mother association of poultry farmers in the country, yet the government, through the Ministry of Food and Agriculture, has failed to consult or involve us in discussions regarding the implementation plan and the selection of poultry farmers to scale up production,” he said.

The association believes their involvement would enhance the credibility, transparency, and overall efficiency of the program in reducing poultry imports.

The annual capacity building project, themed: “Bridging the Technology Transfer Gap for Poultry Experts and Consultants in Ghana,” brought together poultry experts, consultants, and industry stakeholders.
It aimed at bridging the technology transfer gap between academia and industry.

Some experts in the poultry industry are distraught over the absence of commercial breeding companies to support poultry production in Ghana.

Head of the Department of Animal Science at the KNUST, Professor Kwaku Adomako notes that the establishment of commercial breeding companies is crucial to reducing the country’s high dependence on poultry meat imports.

“It is high time we came together as a nation to address this challenge by creating the necessary synergies and investment incentives for local firms to establish at least one commercial breeding company—not only to serve Ghana but the broader sub-Saharan African region,” he said.

While acknowledging the significant capital investment required for their establishment, Prof. Adomako advocated for strategic measures and enabling the environment to empower local entrepreneurs and experts to spearhead the commercialization of the local breed.

He further reiterated concerns about the continued importation of poultry breeds which are usually unsuited to Ghana’s climate, often leading to high mortality rates among chicks.

“These imported breeds are typically developed for temperate climates and may not thrive under local environmental conditions,” he noted.

He urged both public and private sector players to prioritize local solutions, highlighting a robust domestic breeding capacity is essential to achieving food security and reducing the poultry sector’s reliance on imports.

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.

Dr Abdul Rashid Pelpuo is the Minister of Labour, Jobs and Employment

The Minister of Labour, Jobs and Employment, Dr Abdul Rashid Pelpuo is urging the private sector to absorb more of the country’s workforce as Ghana begins implementing its 24-Hour Economy policy.

His call follows the official launch of the programme by President John Dramani Mahama on Wednesday, July 2, 2025.

Speaking on Hot Issues on TV3 on Monday, July 7, 2025, and monitored by GhanaWeb Business, Dr Pelpuo said the government cannot shoulder the responsibility of job creation alone.

“We cannot continue like this. The burden is heavy. This policy is a reset, a shift to make labour more productive and better aligned with economic development,” he said.

While the government will continue to create jobs, particularly in infrastructure and security services, Dr Pelpuo emphasised that the private sector must lead the way in employment creation for the policy to succeed.

“We’re looking to transition employment from the public to the private sector by encouraging companies like MTN, mining firms, and banks to hire more. This will reduce pressure on government and free up resources for critical public investments,” he said.

The 24-Hour Economy is designed to create 1.7 million jobs over four years through a shift-based system that supports continuous operations in industries with capacity for extended work hours.

Dr Pelpuo noted that the initiative goes beyond just scheduling adjustments it’s about realigning the labour market to meet the demands of a modern, industrializing economy, with the private sector expected to take the lead.

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Former Deputy Minister of State, Abu Kansangbata

A former Deputy Minister of State, Abu Kansangbata, has urged the Economic and Organised Crime Office (EOCO), the Office of the Special Prosecutor (OSP), and the National Intelligence Bureau (NIB) to deal decisively with individuals who have recklessly mismanaged state resources at the expense of the poor and vulnerable in Ghana.

He emphasized that political party members mobilising to stage protests or picket at the premises of EOCO and OSP should not deter these institutions from carrying out their work professionally and independently.

Kansangbata stated that as a democratic nation for almost three decades, Ghana possesses abundant resources that, if properly managed, can drive national development and create sustainable jobs for the youth, thereby reducing unemployment.

He appealed passionately to John Mahama to ensure that his government implements the comprehensive ORAL report without political interference, adding that the looting under the previous government was excessive and unacceptable for any participatory democracy seeking to strengthen its institutional pillars.

According to him, individuals found culpable by competent courts of jurisdiction must be punished to serve as a deterrent to current and future appointees, ensuring state resources are utilised to improve the living standards of all Ghanaians.

Hon. Kansangbata also called for urgent investigation into the procurement of tricycle motorbikes by the Northern Development Authority (NDA), amounting to nearly GHS 27 million, which was paid into ADB Bank, as well as funds disbursed for the Kparigu irrigation dam project and related visibility studies.

These funds, he said, were advanced to sensitise community members on cultural and environmental resettlement to facilitate major hydro and agricultural construction projects in the northern part of Ghana.

He highlighted that the dam was a significant promise made by government to the people of the Upper East and Savannah Regions, intended to develop large-scale irrigation and hydroelectric systems to transform the region’s economy.

However, the recent parliamentary committee report revealed that government paid $11.9 million for no work done under the previous administration, describing it as cruel and insensitive to the plight of Ghanaians.

The report indicated that this payment was made to M/S PowerChina International Group Limited as part of over $117 million paid to contractors undertaking various projects in 2022, with the $11.9 million captured as the final payment for the Pwalugu Irrigation Project despite no work being done.

Kansangbata concluded by announcing that there will soon be massive demonstrations across the three northern regions to demand transparency and accountability for the chiefs and people of northern Ghana.

He further appealed to EOCO and OSP to extend investigations into the downstream petroleum sector to ensure all funds are accounted for and used for national development.

ID/AE

Dr Saajida Shiraz, acting Chief Executive Officer of the Student Loan Trust Fund (SLTF), has lauded President John Dramani Mahama and key stakeholders for their collective efforts in launching the transformative ‘No Fees Stress’ policy on 4 July 2025 in Koforidua.

The flagship initiative waives academic user fees for all first-year students at public tertiary institutions, fulfilling a major campaign promise and supporting Mahama’s broader ‘Reset Ghana’ agenda aimed at reducing financial hurdles for vulnerable households.

In a statement on Facebook dated 8 July, Dr Shiraz said the launch “presented a platform for the President to reiterate his commitment to alleviating the stress related to fees for Ghanaian tertiary students, and for students to express their joy about the actualisation of this impactful policy.”

She praised the energy on campus, describing it as “contagious, and … the pick me up we needed to continue to do our work of providing timely financial resources to tertiary students in Ghana.”

Dr Shiraz expressed gratitude to President Mahama “for the trust and the prioritisation of our work at SLTF.”

Speaking at the official launch, President Mahama reaffirmed that “no student will be denied tertiary education over fees,” and called on tertiary institutions to implement the policy “with transparency, compassion, and excellence”.

The SLTF’s own data indicates strong early uptake: “nearly 130,000 students had registered online by mid-June, with over 100,000 completing the application process,” and “at least 19,503 students have received reimbursements”.

Dr Shiraz extended her appreciation to other key players, including Haruna Iddrisu, Minister of Education, along with Ministry officials, for their “leadership and technical support.”

She also mentioned Dr Callistus Mahama, Stan Xoese Dogbe, Felix Kwakye Ofosu and Hajia Shamima Muslim for their roles in the launch event.

She also thanked heads of tertiary institutions, the National Union of Ghana Students, the SLTF Consultative and Technical Committee members, GCB Bank, SDA College of Education, SLTF board and staff, and other stakeholders for their partnership.

The ‘No Fees Stress’ policy also emphasises inclusivity, extending benefits to students living with physical challenges.

This policy marks a significant step toward equitable access to tertiary education in Ghana, empowering the youth by eliminating one of their greatest financial barriers.

Dr Shiraz’s commendations underscore the collaborative spirit and motivation needed to ensure the policy reaches its full potential.

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.

Azumah Resources Ghana Limited has reaffirmed its commitment to developing the Black Volta Gold Mine in the Upper West Region and expressed confidence in Ghana’s legal and regulatory framework, amid an ongoing dispute with Engineers & Planners Company Limited (E&P).

In a press release issued on Tuesday, the company thanked the Government of Ghana for upholding the rule of law and investor confidence, and stated its determination to pursue the mine’s development in partnership with Ghanaian stakeholders and international investors.

“Azumah Resources is committed to ensuring this project benefits Ghanaians, led by Ghanaians, with partners who are willing and able to build with us,” said John Mason, Spokesperson for Azumah Resources. “We have a duty to protect Ghana’s resources for the benefit of all. This is about doing right by Ghana and Ghanaians.”

Mr Mason criticised E&P’s recent claims in the media, describing them as “unsupported by law or fact”. He disclosed that while E&P had initially proposed funding of over $250 million, only $4 million had actually been provided. “We are fortunate to have secured the financial support of international investors who have already developed more than $10 billion worth of mines globally. They will support the construction of this mine,” he stated.

Azumah said it would continue to seek investment from reputable, law-abiding Ghanaian companies and investors, while maintaining its focus on “lawful development, transparency, and building Ghana’s future”.

Rob Cicchini, Project Director at Azumah, underscored the importance of proven capability in project execution. “The future of this project should be in the hands of those who can deliver — not those who cannot,” he said. “A sale to E&P, without a demonstrated ability to fund the full development of the Black Volta Gold Project, would not be in Ghana’s national interest.”

Mr Cicchini warned that handing the project to a company lacking the required capital would harm local communities and stall economic growth. “Even if E&P could raise the funds to acquire the project, it has already demonstrated — over several years — that it does not have sufficient resources to fund the development. Without that funding, Ghana would suffer. Local communities would suffer. Jobs would be lost,” he said.

The company added that E&P had not made any formal offer to invest in Azumah or fund the Black Volta project and currently holds no shares in Azumah.

Azumah expressed concern over what it described as “misleading public statements” by E&P, stating that such conduct risks damaging Ghana’s international image as a credible mining destination. “These statements are visible to mining companies around the world and severely impact upon their international standing as a Ghanaian company,” the statement noted.

While remaining open to receiving a formal funding proposal from E&P, Azumah cautioned that it would consider the company’s public conduct in evaluating any future engagements.

Addressing recent public events organised by E&P, Azumah called on regulators, financial institutions, investors, and the Ghanaian public to “disregard this week’s staged event and any related claims”, insisting that the dispute should be resolved through international arbitration and not through the media.

Azumah further stated that it reserves all legal rights in the ongoing arbitration and is prepared to pursue every available remedy to protect its interests and the future of the Black Volta Gold Project.

“We remain fully available to our partners, regulators, and the public to provide accurate information,” the statement concluded.

Read the entire statement below;

Julius Debrah (in blue suit) read the speech on behalf of President John Mahama

At the 4th International Maritime Defence Exhibition and Conference (IMDEC), President John Dramani Mahama, represented by Chief of Staff Julius Debrah, delivered a powerful reaffirmation of Ghana’s commitment to regional maritime security, economic resilience, and international cooperation.

The president’s speech, delivered at Burma Camp on July 2nd, 2025, resonated with purpose and hope, laying out a bold and forward-thinking agenda for Ghana’s maritime future.

Addressing security chiefs, diplomatic partners, and industry stakeholders from across the globe, President Mahama’s message indicated that Ghana is ready to lead a new era of maritime security, innovation, and prosperity.

“The blue economy is our next frontier. It is time to match our aspirations with investments in technology, collaboration, and human capacity development.”

President Mahama’s vision was not merely about safeguarding Ghana’s coastline but about unlocking the full economic potential of West Africa’s maritime domain, from oil and gas infrastructure to fishing, port modernization, and regional trade corridors.

He emphasised that maritime security is essential not only for protecting national assets but for advancing the broader goals of the African Continental Free Trade Area (AfCFTA) and the region’s industrial transformation.

Debrah, who read the statement on behalf of the President, noted that Ghana would deepen cooperation with its neighbors and international allies to combat piracy, illicit trafficking, and environmental degradation in the Gulf of Guinea.

“We must adopt a shared security approach, no country can protect its maritime space in isolation,” he said. “Ghana under President Mahama’s leadership will build on smart partnerships with ECOWAS, the African Union, and global powers to protect our common waters and promote peace,” he noted.

The speech also outlined Ghana’s plan to enhance the capabilities of the Ghana Navy and allied agencies by investing in cutting-edge surveillance, joint training, and research facilities.

The president called on stakeholders present—both public and private—to support Ghana’s blueprint for the future.

He reiterated that Ghana remains open for strategic investment and joint ventures in maritime logistics, shipbuilding, port infrastructure, and coastal tourism.

“Our waters hold the promise of economic empowerment. Let us secure it. Let us protect it. And let us build a future upon it,” he concluded.

As the IMDEC 2025 conference continues, Ghana’s role as a beacon of stability and innovation in West Africa has once again taken center stage.

GhanaWeb Special: The gold market that fuels galamsey

In a decisive show of confidence and continuity, Mrs Juliana Storey has been re-elected as President of the Rugby League Federation Ghana (RLFG) following the Federation’s board elections held on Saturday, July 6, 2025.

An accomplished education consultant, Madam Storey has been instrumental in the rapid rise of rugby league across Ghana.

Under her stewardship over the past two years, the Federation has witnessed significant milestones — from expanding grassroots participation and organising nationwide tournaments, to delivering coaching and officiating courses and deepening strategic partnerships with local and international stakeholders.

Speaking after her re-election, Madam Storey conveyed deep appreciation for the mandate given her to lead once again.

“This is a moment of renewed purpose. Rugby league in Ghana has come a long way, but there is much more ahead. Together with the newly elected board, I am committed to growing the game, developing our youth, and taking Ghana to the world stage,” she stated.

A New Era of Leadership and Opportunity

The new RLFG Board, elected to serve from July 2025 to July 2027, features a dynamic blend of professionals with expertise spanning education, finance, corporate leadership, and sports management. The board members are:

Juliana Storey – Educational Consultant (President), Daniel Oko Djanie – Events, Brands and Marketing professional (Vice President), Rob Oram – CEO, Hapag-Lloyd (Treasurer), George Morgan – CEO, Shamore Herbal (Ghana), David Akomeah Asokwah – District Director of Education, Afigya Kwabre South, Ekua Ofori – Legal and Governance, Hubert Leo-Mensah – Sports Management Consultant.

The Federation’s renewed leadership is expected to advance key priorities, including youth development, regional expansion, enhanced women’s participation, and international competitiveness.

The re-election of Madam Storey signals stability, vision, and an unrelenting drive to position Ghana as a formidable force in global rugby league.

As the RLFG charts its path forward, all eyes are on the Federation to lead with integrity, ambition, and unity — embodying the values of the sport and the aspirations of a new generation of Ghanaian athletes- Remond Safi (Regional Manager, Middle East and Africa Rugby League)