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Italian Government to provide grant to Support Cocoa Sector 

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The Italian government is to provide a grant to support the Ghana Cocoa Board (COCOBOD), Thomas Nyarko Ampem, Deputy Minister for Finance, has announced. 

Mr. Ampem said this following a high-level meeting, in Accra, with a delegation from the Italian government. 

Although the Deputy Minister for Finance did not disclose the amount the grant would cover, President John Dramani Mahama, has indicated that COCOBOD’s debt stood at GHS32.5 billion. 

In his 2025 message on the State of the Nation, delivered in February, the President noted that GHS9.7bn of the GHS32.5bn was to be paid in September this year.  

“This grant, which has no conditions attached, reflects Italy’s goodwill and long-standing interest in supporting Ghana’s cocoa sector, making the sector robust and sustainable,” the Deputy Minister said. 

In 2023, Ghana exported US$387 million worth of cocoa beans to Italy and US$55.38 million worth of cocoa and cocoa preparation, making Italy a dependable bilateral partner in Ghana’s real sector.   

Mr. Ampem stated that the gesture formed part of efforts to deepen bilateral and economic cooperation between Ghana and Italy in agriculture and health. 

He said the two sectors remained government’s priority, hence, the implementation of initiatives like the Ghana Medical Trust Fund (Mahama Cares) and Accelerated Export Development Programme (AEDP). 

He also said the support would be pivotal in Ghana’s economic reset agenda and expressed the government’s gratitude to Italy, assuring Italian businesses of an enabling macroeconomic environment for them to thrive in the country. 

The Italian delegation led by Stefano Gatti, Director-General of the Italian Development Cooperation, underscored Ghana’s global reputation for producing high-quality cocoa beans as a key interest in supporting the country. 

In the area of health, the Italian government proposed a partnership with Ghana’s Ministry of Health (MoH) to undertake joint projects of mutual interest. 

In the proposed partnership, Italy would provide technical expertise and capacity support for the implementation of the selected projects, with the Ministry of Health expected to identify and propose suitable projects. 

The meeting was attended by the Italian Ambassador to Ghana, Deputy National Coordinator for Italy’s Mattei Plan/Africa, Italian Foreign Ministry’s Special Envoy for the Mattei Plan and Foreign Ministry’s Director-General for Africa. 

Some Directors from their Ministry of Economy and Finance, and officials from the Italian Agency for Development Cooperation were also present at the meeting. 

Tema West MCE hopeful endorses president’s nominee 

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Mr. Romeo Elikplim Akahoho, the Executive Secretary of the Chamber for Local Governance (ChaLoG), has appealed to assembly members of the Tema West Municipal Assembly (TWMA) to unanimously confirm Mr. Ludwig Teye Totimeh as the Muncipal Chief Executive. 

Mr. Akahoho, who contested for the position but lost out to Mr. Totimeh, told the Ghana News Agency (GNA) that it was important that the municipality moved forward in unity, taking into consideration the plight of the masses who voted for the National Democratic Congress (NDC). 

He said Tema West was an elite constituency, lacked equitable distribution of the national cake, had delays in government developmental projects, especially within the new communities, and lacked proper revenue funding. 

He added that the assembly members must also consider the assembly’s insufficiently trained staff, lack of accurate and current data, poor tracking of economic activities, and inadequate sensitisation on the part of the taxpayers and the rest that needed the quickest attention to endorse the MCE nominee. 

“Having been convinced by the expertise of Ludwig Teye Totimeh, who is equally competent enough to execute duties of the highest political and administrative authority within the municipality satisfactorily and has been appointed by H.E. President John Dramani Mahama on April 23rd, 2025, I therefore call on all assembly members to do the needful by endorsing him,” he stated. 

Meanwhile, assembly members, both elected and appointed, are expected to vote to confirm the nominee on Thursday to become the first male of the TWMA since its creation. 

He is required by law to obtain at least two-thirds of the votes to be confirmed. 

GUTA lauds BoG for cedi stability, calls for sustainability  

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The Ghana Union of Traders Associations (GUTA) on Wednesday lauded the Bank of Ghana (BoG) for its efforts in stabilising the cedi against the major trading currencies since January 2025. 

GUTA said the stability had brought some level of respite and confidence in the economy, enabling the business community to recoup some of the lost capital in the past few years due to depreciation and exchange rate pressures.  

A statement signed by Dr Joseph Obeng, the President, and Mr Charles Kusi Appiah Kubi, the Head of Business and Eco. Bureau of GUTA, copied to the Ghana News Agency, urged the BOG to sustain the momentum.  

“We wish to highly commend the Governor and his team for efficiently managing the forex market to this extent. We believe that the fiscal discipline that has been adopted by the Government also contributed to this feat,” it noted.  

“Importantly, it has brought a positive speculation and predictability around the foreign exchange space, thereby eroding the notion that the foreign currency is a store of value in the Ghanaian community.”   

GUTA urged the Central Bank to sustain the momentum on effort to keep the cedi strengthened against its major trading currencies, particularly the dollar. 

“These prudent measures, if sustained, would lead to full economic recovery and make businesses competitive, increase productivity, as well as alleviate the high cost of living in the country.”   

Data provided by the Central Bank indicated that as of May 6, 2025, US$1 was bought at GHS13.64 and sold for GHS13.65; £1 was bought at GHS18.11 and sold for GHS18.13, while €1 was bought at GHS15.42 and sold for GHS15.44. 

As of January 6, 2025, US$1 was bought at GHS14.74 and sold for GHS14.75; £1 was bought at GHS18.26 and sold for GHS18.28, while €1 was bought at GHS15.15 and sold for GHS15.17. 

President Mahama’s 120-day in office is remarkable – Prof Gatsi 

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The performance of President John Dramani Mahama in the delivery of his ‘social contract’ with the people of Ghana in the first 120 days in office is “remarkable,” says Professor John Gatsi. 

President Mahama took office on the back of the implementation of a US$3 billion loan-supported programme with the International Monetary Fund (IMF), aimed at restoring macroeconomic stability and debt sustainability. 

Within the 120-days, the United States Agency for International Development (USAID) withdrew its support to Ghana, creating US$156m funding gap, while the US Government also imposed 10 per cent tariff on the country. 

However, the Professor of Finance, in an exclusive interview with the Ghana News Agency, said the Government had demonstrated commitment towards restoring and resetting the economy to ensure stability and progress. 

“From day one, the agenda is being rolled out progressively and steadily, in a manner that touches every facet of the economy – good governance, young people, economic entrepreneurship and business development, reforms of institutions, and reform of the Constitution,” he noted. 

Prof Gatsi lauded the Government for its moderate approach to expenditure and focus on value for money, a gesture he said would help create the needed stable macroeconomic environment to propel business development. 

He noted that the Ghana Medical Trust Fund (Mahama Cares), launched last Tuesday, for example, would help address critical health needs of citizens, citing the President’s experience in governance as a contribution to his current “excellent” performance. 

Prof Gatsi, the Dean of the University of Cape Coast (UCC) Business School, urged the Government to remain steadfast in maintaining the momentum in rolling out initiatives and ensuring their full implementation. 

“The successful rollout of initiatives should be maintained across multiple sectors of the Ghanaian society,” he said, calling for sustained-stable economic environment going forward. 

“This will provide multiple benefits: a resilient and better economy, lower inflation, a steady and stable generating environment, and then lower interest rates that will govern business development in the country,” he stated. 

He said the actions of the Government in the 120-days had provided the stage for a more comprehensive economic agenda in the days ahead. 

Prof Gatsi was confident that when the “standard” was kept, the outcomes would benefit citizens through export progress, skills development for young people, and improved governance through transparency and accountability. 

Already, the Ghana Union of Traders’ Associations (GUTA), has commended the Government for stabilising the cedi against its major trading currencies [Dollar, Pounds and Euro] since January 2025. 

Meanwhile, the Bank of Ghana (BoG) has indicated that as of May 6, 2025, US$1 was bought at GHS13.64 and sold for GHS13.65; £1 was bought at GHS18.11 and sold for GHS18.13, while €1 was bought at GHS15.42 and sold for GHS15.44. 

As of January 6, 2025, US$1 was bought at GHS14.74 and sold for GHS14.75; £1 was bought at GHS18.26 and sold for GHS18.28, while €1 was bought at GHS15.15 and sold for GHS15.17. 

The stability over the past five months, GUTA said, had brought some level of respite and confidence to the economy, enabling the business community to recoup some of the lost capital in the past few years due to depreciation and exchange rate pressures.  

“These prudent measures, if sustained, would lead to full economic recovery and make businesses competitive, increase productivity, as well as alleviate the high cost of living in the country,” it said in a statement copied to GNA on Tuesday. 

President Mahama, who served as Ghana’s President from 2012 to 2017, returned to office on January 7, 2025, providing an 11-page document, with 26 itemised promises to fulfil as a social contract in his first 120 days. 

Investment in food systems will catalyze financial growth

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Mr Peter Aidoo, Economist and Development Coordinating Officer, UN Resident Coordinator’s Office, has called for investment in food systems to spur growth and close the financing gap in the country.

He called for regular private sector engagement, including financial institutions, to institutionalise their participation in governance for sustainable development.

Mr. Aidoo said this at a Business Executives dialogue for members of the UN Global Compact in Accra.

The dialogue is to have discussions on the sustainable finance landscape in Ghana, opportunities for the private sector and challenges that may exist.

It is on the theme: “Financing Ghana’s Sustainable Future and Strengthening Private Sector Contribution to the Voluntary National Review process”.

He said the General Assembly of the UN in 2023 agreed that all developing countries must, among other things, review policy and regulatory frameworks to enhance the enabling environment and accelerate progress in the Sustainable Development Goals (SDGs).

Data shows that Ghana needs to raise $43 billion annually before 2030 to meet the SDGs.

He expressed satisfaction about the government’s commitment to the International Monetary Fund, including the strengthening of procurement processes and cancelling the e-levy to bring in some incentives for the private sector to grow.

He said the cancellation of USAID funding had reduced funding to Ghana to about GH₵ 156 million, calling for innovative ways to raise funds to address the financial gap.

He expressed concerns that Ghana loses 1.44 billion dollars every year through financial leakages, but is chasing the IMF for just $3 billion.

Mr Foster Aboagye Gyamfi, Principal Economics Officer at Climate Finance Division, Ministry of Finance, called for investment in the private sector to accelerate the desired development.

That, he stressed, was important because over-relying on donor countries for financial assistance was not sustainable.

He said there were climate financing instruments such as grants and concessional financing, carbon financing, and sustainable green bonds that institutions could take advantage of.

Mr Gyamfi urged organisations and financial institutions to engage the Ministry of Finance to leverage climate financing to boost their business portfolios.

He said the Green Climate Fund support in Ghana is the largest international climate finance fund, with the 2020-2023 replenishment of $8 billion.

The Fund partners with the developed countries and business world to mobilise institutional investors at scale to fund climate actions.

Review of Mahama’s rapid resetting agenda in 120 days 

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In the lead up to the 2024 General Election, then candidate John Dramani Mahama outlined an ambitious raft of plans to reset the country and put Ghana on the path of economic recovery and social transformation. 

In keeping with his promise after securing historic victory and taking office on January 7, 2025, President Mahama did not hesitate to deliver on his promise to the people in his first 120-days in office.  

In a document, which is a sequel to the National Democratic Congress 2024 Manifesto, the President outlined 26 deliverables that would facilitate the reset agenda, setting the tone for the implementation of policies in the NDC’s Manifesto. 

Notable among his promise was to nominate his Cabinet and constitute the leanest Government within 90 days in office. 

This was achieved as the President announced his 19-Member cabinet on February 20, 2025 and has so far sworn into office 56 Ministers, four short of not more than 60 Ministers he promised.  

The President also fulfilled his promise of scrapping the E-levy, COVID levy, 10 per cent levy on bet winnings, and Emissions levy, which he described as draconian. 

President Mahama again convened a National Economic Dialogue to discuss the true state of the economy and prepare a homegrown fiscal and monetary consolidation programme to guide the budget and the national economic planning as a whole.  

The national consultative conference on Education was also held to build consensus on needed adjustments and. improvements to the sector. 

Key Manifesto policy interventions that have so far being implemented includes the Feed Ghana Programme, Free Sanitary Pad Initiative, One Million Coders Programme, Adwumawura Programme, and the National Apprenticeship Programme – all geared towards empowering the youth with employable skills. 

Other policies that have been rolled out by the new Government includes the establishment of the Ghana Medical Care Trust Fund, and the Tree For Life Initiative to plant seven million trees to restore the green cover and the environment. 

The Government has also allocated seed money of GH₵51.3 million for the establishment of the Women’s Development Bank to give Ghanaian women credit to engage in all manner of business activities to improve their lot.  

The President recently cut sod for the construction of a permanent village on the Spintex road, near the Kotoka International Airport, to provide decent temporary accommodation for Muslims embarking on Hajj. 

On the fight against illegal mining, which was a major campaign promise, the Government has moved to tackle the issue head-on. However, reports from some mining areas suggest that more needs to be done to tackle the menace comprehensively. 

Although the Government has made significant progress in its reset agenda, some key campaign promises are yet to be fulfilled. 

Notable among the promises captured in the 120-day social contract yet to be implemented is the implementation of the ‘No-Academic-Fee’ policy for all first-year students in public tertiary institutions—universities, colleges of education, and nursing training institutions. 

The promise to establish an Accelerated Export Development Council (AEDC) to promote exports as part of a broader strategy for economic transformation has also not been fulfilled. 

When the Ghana News Agency (GNA) hit the streets of Accra to talk to Ghanaians about the performance of President Mahama’s 120-day Social Contract, people shared varied opinions on the matter. 

What stood out were the erratic power supply, youth unemployment and high cost of living.  

Ms Edith Som, a National Service Person in her comment thanked President Mahama for honouring his 120-days social contract to the people. 

She cited for example that the government had paid all allowances and arrears owed service personnel which were outstanding since 2024. 

She however appealed to the government to resolve the intermittent power problems which she said was affecting people in some parts of the country. 

Mr Alfred Nyarko, a shoe seller at the Accra Tema Station market, stated that though the President had fulfilled some of his campaign promises, he needed to tackle the rising unemployment of the youth and the erratic power supply in the system. 

Wofa Yaw Asiama, a Commissioner of Oaths, said the President’s raft of promises was ambitious but with  passion and resilience, he would have the full support and blessings of Ghanaians to make the country a better place than he found it.  

Residents of Keta hail Mahama for fulfilling 120 days in office promises 

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Residents of Keta in the Volta Region have hailed and commended President John Dramani Mahama for fulfilling most of the promises made to deliver on his commitments within his first 120 days in office. 

They expressed appreciation for the President’s efforts for addressing some of the country’s pressing issues to give comfort and alleviate the plight of the majority in the area. 

Mr Dzidefo Isaac Aborhor, a businessman at Keta, in an interview with the Ghana News Agency, said President Mahama promised to take bold steps to address some of the country’s challenges within his first 120 days in office indicated his dedication and commitment to giving hope to Ghanaians. 

“We are impressed with the President’s commitment to keeping his promises and we are hopeful that he will continue to deliver on his campaign promises,” he said. 

He said that many residents within the areas were optimistic that the President’s policies would help improve the economy, create jobs, and enhance the overall well-being of all for better development and progress in the country. 

Mr Aborhor appreciated the commitment and accountability efforts exhibited by the President and believed that his ability to report on his progress within the first 120 days in office demonstrated commitment to open and transparency in government. 

“We still have confidence in President Mahama’s ability to lead the country; we hope that his visions and the leadership skills will take Ghana forward.” 

He explained that the President’s economic initiatives have been welcomed and efforts to convene a National Economic Dialogue, allocation of money for the establishment of the Women’s Development Bank and others would help develop a roadmap for fiscal recovery and promote economic growth for the benefit of all. 

Mr Gabriel Dzramdo, an Educationist, impressed excitement about the President’s initiatives in education and healthcare sectors and the introduction of free Tertiary Education for Person with Disabilities, No-academic fee policy for all first-year students in public tertiary institutions, and efforts to host an Education Dialogue and establishment of the Mahama Cares Health Fund. 

Mr Anthony Dagadu, an Economics and Policy Analyst, told the GNA that the President had made a good start in fulfilling his 25 promises made to be delivered in the first 120 days in office and many were hopeful that he would continue to deliver on his campaign promises. 

He said that the prospects for Ghana looked promising under President Mahama’s leadership and his commitment to transparency, accountability, and economic growth had the potential to take Ghana forward and improve the lives of its citizens. 

He said other promises such as nomination Cabinet Ministers for parliamentary approval within the first 14 days, constituting of the leanest government of 54 out of 60 ministers promised under the fourth republic in first 90 days in office as well as scraping of the E-levy, COVID levy, 10 per cent levy on bet winnings, and Emissions levy were recommendable. 

Mr Dagadu said the President’s initiatives to establish a robust code of conduct and standard for all government officials, commencement of free sanitary pad to female students in primary and secondary schools, institute a government policy to ban political appointees from purchasing state assets and ‘Adwumawura’, National apprenticeship programmes and one million coder programme should be applauded. 

He advised the government to also enact stronger policies to purge state security agencies of all militia and vigilante elements and the ban on illegal mining activities in the forest reserves.   

Some other residents in Keta GNA interacted with pledged their support for President Mahama to continue the hard work towards delivering on the rest of his campaign promises to improve the lives of Ghanaians and promote economic growth. 

Mahama to give accounts of first 120 Days Social Contract to Ghanaians

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President John Dramani Mahama will on Wednesday, May 7, give an account of the first 120 Days of his second term in office to Ghanaians in a broadcast to the nation scheduled at 2030 hours.

Mr Felix Kwakye Ofosu, Presidential Spokesman and Minister of State in-charge of Government Communications in a statement said: “President John Dramani Mahama will account to the nation on his 120 Day Social Contract tonight at 8:30pm in a live TV and radio broadcast”.

The Presidency said this would enable President Mahama to outline his achievements in fulfilment of the Social Contract, which he signed with the people of Ghana during the 2024 general election campaign.

During election 2024, the Candidate Mahama launched a document dubbed “Mahama’s First 120 Days Social Contract with the People of Ghana,” in which he stated 25 major priorities projects he would implement within his first 120 days when elected to office.

The President is tout his efforts to Reset the nation and to highlight certain key achievements he was able to fulfill within his first 120 Days in office, such as the launching of major projects, namely the Ghana Medical Trust Fund (Mahama Cares), Minister Code of Ethics and Conduct and the Adwumawura Programme.

Others are the setting up of the Constitutional Review Committee, the implementation of the Chip-embedded Passports, Free Sanitary Pad for Girls in School, the Holding of the Second Edition of the Kwahu Business Forum, the abolition of the 10 per cent betting tax, the abolition of the one per cent Electronic Transaction Levy (E-Levy), and the holding of the National Economic Dialogue.

The rest are the cutting of sod for the construction of the National Hajj Village for check in and pilgrims facilitation, the coupon payment of GH¢6.081 billion to all Domestic Debt Exchange Programme (DDEP) bondholders, the launch of the One Million Coders Programme, the launch of the National Apprenticeship Programme (NAP) and the holding of the National Education Forum.

Agbogbomefia of the Asorgli State Torgbui Afede XIV speaking at a durbar of the Chiefs and People of the Volta Region on January 24th, during President Mahama’s “Thank You Tour” of the Volta Region, praised President Mahama for his impressive speed of work; saying “So far, so good”.

President Mahama nominates 40 MMDCEs for Ashanti Region 

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President John Dramani Mahama has nominated 40 individuals for appointment as district chief executives for the Ashanti Region, pending approval by their respective District Assemblies. 

A statement signed by Mr Ahmed Ibrahim, the Minister for Local Government, Chieftaincy and Religious Affairs, copied to the Ghana News Agency on Tuesday, said the nominations were made in accordance with Article 243(1) of the 1992 Constitution and Section 20(1) of the Local Governance Act, 2016 (Act 936).

The nominees are; Akwasi Adusei, Ahafo Ano North, Ibrahim Yamba Nelson Issaka, Ahafo Ano South East, Abubakar Sedik, Ahafo Ano South West, Mba Zechariah Alenbilla, Atwima Nwabiagya North, Wisdom Osei Boamah, Atwima Nwabiagya South, Benjamin Marfo, Amansie South, Manu Prince Morris, Amansie West, Salifu Issaka, Bekwai, Frank Owusu Amoah, Offinso South, Caesar Acheampong Ofosu, Offinso North, Rafiu Adam Seidu, Ejura Sekyedumase, Evans Amoh Twumasi, Sekyere South, Ebenezer Ekow Aidoo, Asante Akim Central.

The others are Kwasi Amankwaa, Kumawu, Samuel Somuah, Sekyere Central, Abubakar Issaka, Sekyere Afram Plains, Ibrahim Adams, Sekyere East, Joseph Amankwa, Kwabre East, Eunice Ohenewaa Ansu, Juaben, Jerryne Asante, Ejisu, Emmanuel Obeng Agyemang, Odotobri, Sarah Amoakoaa, Asante Akim North, Maame Sarfoah Appiah, Asante Akim South, Abdullah Hamidu, Bosomtwe, Emmanuel Jackson Agumah, Afigya Kwabre North, Pearl Patricia Ankrah, Afigya Kwabre South, Charles Kofi Ogbeh, Adansi North.

The rest are Oheneba Kobena Andoh, Adansi South, Albert Dakurah, Adansi Asokwa, Charles Appiah-Kubi, Bosome Freho, Faustilove Appiah Kannin, Obuasi West, Adzowu Kofi William, Obuasi East, Grace Agyemang Asamoah, Atwima Kwanwoma, Amoh Kemel, Asokwa, Gariba Mohammed Mustapha, Adansi Akrofuom, Eric Asibey, Kwadaso, Owusu Ansah Frank, Suame, Abubakar Sidiq, Tafo, Anwel Sadat Ahmed, Oforikrom, Ben Abdallah Alhassan, Asokore Mampong.

Michael Kpakpo Allotey secures 100% to become the Mayor of Accra

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Mr Michael Kpakpo Allotey has unanimously been confirmed as the new Chief Executive of the Accra Metropolitan Assembly (AMA),

This followed a resounding endorsement by the Assembly Members during a Special General Assembly Meeting held on Tuesday at the Accra City Hall.

Mr Allotey secured all 30 valid votes cast representing 100 per cent to sail through in an election conducted by the Electoral Commission (EC), surpassing the two-thirds majority required under Section 20 of the Local Governance Act, 2016 (Act 936).

Madam Linda Obenewaa Akweley Ocloo, the Greater Accra Regional Minister, supervised the voting process.

Making a statement prior to the voting, she called on Assembly Members to uphold their constitutional mandate by confirming the President’s nominee for the position of Metropolitan Chief Executive (Mayor).

She underscored AMA’s strategic importance, describing it as “The centre of Greater Accra,” and urged the members not to let politics hinder progress.

Mr Allotey in his acceptance speech, thanked the Almighty God and expressed his profound appreciation to President John Dramani Mahama for appointing him as Mayor.

“I thank the President for entrusting me, a young man from North Kaneshie, with this responsibility. It is an honour I do not take lightly,” he said.

Acknowledging the work of his predecessors, the new Mayor pledged to build upon their achievements, while drawing from their knowledge and experiences.

“I now hold the baton as Mayor of Accra. My predecessor has done her part, but today, it’s my turn. If I have any misunderstandings, I can seek advice from the many who have come before me so there is no window for failure,” he affirmed.

Referencing the vision of the President, the new Mayor said, “We are going to reset Accra—starting now,” emphasising that, “what God cannot do does not exist.”

Nene Drolor Bosso Adamtey I, the Council of State representative for Greater Accra and Chairman of the Economic and Social Development Committee called for bold and visionary leadership.

He urged the new Mayor of Accra to tackle the city’s pressing challenges such as sanitation, urban congestion, housing, youth unemployment, and social equity with innovation and integrity.

 “Leadership of this nature demands not only strategic foresight, but also empathy and discipline,” he said.

Mr. Allotey is a seasoned entrepreneur, logistics expert, and development-minded politician with over a decade of experience in the real estate, petroleum, and transportation sectors.

Before his appointment, Mr Allotey an advocate for public-private partnerships, served as CEO of Our God Is Good Real Estate, where he led the delivery of over 200 affordable housing units in peri-urban Accra, contributing significantly to job creation and infrastructure development.

He also served in other leadership positions including General Manager at KYG Consultancy and Lubricants, EXOLUBE Company Limited, and Transport Manager at DIMD Ghana, where he introduced logistics reforms that enhanced operational efficiency and reduced costs.

 Mr. Allotey also served as Director of Operations for the Okaikwei South Constituency and held several leadership roles within the National Democratic Congress (NDC).

The confirmation ceremony, which took place amidst drumming and jubilation, was attended by Assembly Members, government officials, traditional leaders, party executives, and residents, among others.