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Government allocates GH¢3.5billion budget for this year’s Free SHS programme

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Dr. Cassiel Ato Forson, the Minister of Finance, Tuesday said the government had allocated GH¢3.5 billion for this year’s Free Senior High School programme.

He explained that an additional GH¢4.1 billion could be made available for the programme and other related expenses by uncapping the Ghana Education Trust Fund (GETFund).

Dr. Forson made this announcement during the presentation of the 2025 Budget Statement and Economic Policy to Parliament in Accra.

He clarified that uncapping the GETFund would ensure sustainable funding for free secondary education.

“Consequently, the Capping and Realignment Act will be amended to uncap GETFund and amend the GETFund Act to provide for full funding of the Free Senior High School education,” he added.

The minister further explained that aside from uncapping the GETFund, the government had also absorbed the debt service, including both interest and principal, from the Daakye bond GETFund contracted.

He mentioned that the policy shift would not only enhance the quality of education but also expand access to tertiary education for marginalized groups, particularly Persons with Disabilities.

Dr. Forson also highlighted that GH¢564.6 million had been allocated for the provision of free curricula-based textbooks.

He noted that under the School Feeding Programme, the budget had increased from GH¢1.344 billion to GH¢1.788 billion in 2025, reflecting a 33 percent increase.

“The allocation for 2025 reflects an increase in the feeding cost per meal per child per day from GH¢1.50 to GH¢2.00, representing 33.3 percent,” he added.

Dr. Forson stated that GH¢145.5 million had been allocated to the Capitation Grant, up from GH¢84 million in 2024, marking a 73.2 percent increase over the previous year’s allocation.

2025 budget: Government urged to prioritise renewable energy for agric-led economy

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The Northern Patriots in Research and Advocacy (NORPRA) has urged the government to as matter of significance, prioritise renewable energy in its 2025 Budget Statement and Economic Policies

In a statement, signed and copied to the Ghana News Agency in Bolgatanga by Mr Bismark Adongo Ayorogo, the Executive Director of NORPRA, it underscored the need to focus on renewable energy for the agricultural sector to transform the country, particularly Northern Ghana and urged the Minister of Finance to make it a priority.

“It is common knowledge that the impacts of climate change on livelihoods are much more felt in the northern part of the countryas the area with over 8 million hectares of arable land experiences, on the average, only three months of erratic rainfall and nine months of dry season in a year.

“This certainly poses a serious threat to sustainable livelihoods of the over 80 percent of the people whose main source of livelihood is rain-fed agriculture”, it said.

The statement recognised and acknowledged the fact that the vast area of land and high temperatures in Northern Ghana showed huge potentials and presented good opportunities for renewable energy development such as hydro and solar for agricultural activities in the long dry season.

“NORPRA is of the strong view that increasing public investment in renewable energy projects for agricultural-led transformation of climate-impacted Northern Ghana is the best policy option that would yield high returns on investment, improve food security, and reduce poverty and hunger for the achievement of the sustainable development goals and the Africa Agenda 2063.

It said the Finance Ministry’s consideration of this critical sector would be applauded as a decisive action to mitigate the impacts of climate change on the Ghanaian people.

“It will also be viewed as a practical demonstration of government’s commitment to the country’s updated Nationally Determined Contributions (NDCs) under the Paris Agreement that required an investment of over US$ 6 million to build resilience and promote livelihood opportunities for the youth and women in climate-vulnerable agriculture landscapes and food systems to achieve renewable energy penetration by 10 percent by 2030”, it said.

The statement said prioritization of renewable energy in the 2025 Budget will equally breathe life into the Renewable Energy Act, 2011, (Act 832), the National Energy Transition Framework and the NDC manifestoes to increase public investment in renewable energy sources to diversify the energy mix and reduce reliance on fossil fuels for diversification of the country’s energy mix through building and completing of large scale strategic irrigation schemes such as the Tamne Irrigation, Vea Irrigation, Pwalugu Irrigation and Bui Irrigation Schemes.

“It is regrettable, that the One Village, One Dam (1V1D) policy which had noble policy objectives of increasing agricultural productivity, improving food security and improving livelihoods of Ghanaians failed woefully, NORPRA therefore urges the Mahama-led government to be guided by those policy failures and get things done right through this proposed Renewable Energy for Agric program in the north for even and balanced development of the country as required by the 1992 Constitution”, it warned.

Government to complete 55 stalled projects in 12 years- Finance Minister  

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Dr Cassiel Ato Forson, the Minister of Finance, has disclosed that the bilateral creditor debt restructuring undertaken by the previous administration has forced 55 critical projects to come to a halt.  

This has left approximately US$3 billion in undisbursed loans and US$300 million in outstanding interim payment certificates (IPCs) unpaid.  

The Minister said this in Parliament during the presentation of the 2025 Budget on Tuesday.     

Among the affected projects are the Effia Nkwanta Regional Hospital, Kejetia Market Phase II, Bolgatanga-Bawku Road Project, and the Tema-Aflao Road Project.  

Dr Forson said that delayed payments and contractor demobilisation from project sites could result in cost overruns of about US$1.1 billion.  

The finance minister explained that the International Monetary Fund (IMF)-supported programme imposes an annual disbursement ceiling of US$250 million for official bilateral loans.  

This constraint, he noted, means it would take a minimum of 12 years from the recommencement of disbursements to complete the 55 stalled projects.  

Dr Forson emphasised the severity of the situation, stating that the Government was committed to engaging relevant stakeholders to address the challenge.   

However, the 12-year timeline underscores the long-term impact of the debt restructuring on Ghana’s infrastructure development and economic growth.  

Government aims to stabilize inflation and the exchange rate

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The government will implement several measures to complement the Bank of Ghana’s (BoG) monetary and exchange rate policies to stabilize inflation and the exchange rate.

These measures include the establishment of the GoldBod, aimed at enhancing the generation and accumulation of forex to support the stability of the cedi.

Presenting the 2025 Budget Statement and Economic Policy of the government to Parliament in Accra on Tuesday, Finance Minister Dr. Cassiel Ato Forson said that the BoG would also continue to implement its forex forward auctions to help stabilize the cedi.

The budget, themed “Resetting the Economy for the Ghana We Want,” outlined the government’s fiscal plans.

Dr. Forson said the government’s strong fiscal consolidation, achieved through a reduction in public sector spending and the fiscal deficit, would ease pressures on the exchange rate.

He explained that the government’s import substitution drive under the 24-Hour Economy, which focuses on domestic production of key products that are usually imported, would reduce imports and the related forex requirements and stabilise the foreign exchange market.

“We are addressing the inflation problem through a number of measures, including specific interventions. The Agriculture for Economic Transformation Agenda is expected to increase food production and reduce food inflation,” he said.

Dr. Forson said that the government would implement policies targeting items with large weights in the Consumer Price Index (CPI) basket, such as transportation and utilities, to reduce their prices.

He also mentioned that the government’s aggressive fiscal consolidation efforts aimed at reducing the fiscal deficit and borrowing would significantly help lower inflationary pressures.

Dr. Forson noted that the strategy to improve exchange rate stability would reduce import inflation and fuel prices.

The BoG, he said, would maintain an appropriate monetary policy stance and use liquidity management interventions to support the disinflation process.

2025 Budget: Government will reopen domestic bond market  

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Dr Cassiel Ato Forson, the Minister of Finance, Tuesday said the Government will take steps to reopen the domestic bond market to extend the maturity profile.   

The reopening will be executed cautiously to establish large-sized benchmarks bond that will enhance market liquidity.  

The Minister said this when he presented the 2025 Budget Statement and Economic Policy to Parliament in Accra, on the theme: “Resetting the Economy for the Ghana We Want.”   

He said to further reduce risk on the debt portfolio, the Government would build sufficient cash buffers to support effective implementation of the liability management strategies.  

“This will help smoothen the redemption profile and mitigate refinancing/rollover risks associated with the debt portfolio,” he added.  

The Government, in 2025 and the medium term, would implement liability management operations to manage the risks imbedded in the Eurobond debt portfolio.  

Dr Forson said beginning 2025, the Government would commence the operationalisation of section 37 to 44 of the Public Financial Management Act, 2016 (Act 921) for the first time since the passage of the Act in August 2016 to build sufficient buffers in the Sinking Fund as the landmark reform to manage the public debt.  

GHANA: 2025 BUDGET

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“Government committed to 24-Hour-Economy Policy,” Dr Forson reassures Ghanaians

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Finance Minister Cassiel Ato Baah Forson has reaffirmed the government’s commitment to the 24-Hour Economy Policy, a key initiative aimed at transforming the country’s economy.

 Presenting the 2025 Budget Statement and Economic Policy in Parliament, in Accra, on Tuesday, Dr Forson emphasised the importance of the policy in addressing Ghana’s economic challenges.

“Mr. Speaker, we remain committed to the pursuit of the 24-Hour Economy Policy,” he said.

 Highlighting the policy’s crucial role in enhancing economic resilience and ensuring sustainable growth, Dr Forson explained that the policy sought to promote round-the-clock economic activities, boosting productivity and economic growth.

“Mr. Speaker, the government plans to present the policy to Parliament in due course, further demonstrating its dedication to this initiative,” he noted.

According to the Finance Minister, this move was expected to have a positive impact on Ghana’s economy, which recorded a 5.7 per cent growth rate in 2024.

As the government works to implement the 24-Hour Economy Policy, stakeholders anticipate that it will address the country’s economic challenges while laying the groundwork for sustainable development.

The presentation of the budget was in accordance with Article 179 of the 1992 Constitution.

CSOs, stakeholders urge cancellation, renegotiation of mining contracts

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Civil Society Organisations (CSOs) and stakeholders have called on the government to cancel existing contractors in the mining sector.

At the closing session of a two-day validation workshop in Sunyani, they recommended new negotiations and agreements for the nation to derive the optimum benefits from mining.

Comprising environmentalists, traditional authorities, human rights activists and civil society actors and industry experts, the stakeholders said the nation must at least benefited 40 percent of her gold and other mineral deposits.

The Center for Public Interest Law (CEPIL), an in collaboration with Wacam, the Media Foundation for West Africa, CSOs, with support from Oxfam Ghana, organised the workshop to validate a study on human right violations.

Oxfam Ghana commissioned the CSOs to conduct the study within the within the Newmont Akyem mine and Newmont Ahafo mine.

Their call for the cancellation and renegotiation of contracts in the extractive sector comes at the wake of growing concerns on the socio-economic and environmental impacts of mining activities in the country.

The stakeholders observed that there were loopholes in the nation’s contractual frameworks which favoured mining companies, citing that those gaps were responsible for the recurring human rights abuses, environmental degradation, and payment of inadequate compensation to persons and communities directly or indirectly affected by mining.

“Those contracts were negotiated at a time when the dynamic was different. Today, we need agreements that reflect the current realities and aspirations of Ghanaians,” Mr Raphael Godlove Ahenu, the Founder and Chief Executive Officer of the Global Media Foundation, (GloMeF), a CSO stated.

“The nation must assert more control over her resources and to ensure that the benefits are equitably shared,” he stated.

Mr Yakubu Adusa, an environmental activist and the Executive Director of Form Foundation and Environment, another CSO, highlighted the need for sustainable mining practices in the country, saying “we can’t continue to sacrifice our environment and the health of people for short-term gains”.

“Renegotiating those contracts is a step forwards towards ensuring that mining activities don’t come at the expense of our future,” he stated, arguing that increasing the nation’s percentage share would not only improve revenue, but also enhance the government’s ability to enforce environmental and social standards.

Earlier, Dr Samuel Obiri, the Executive Director of Centre for Environmental Impact Analysis (CEIA), and a Researcher noted that tackling human rights abuses and violations in mining communities required a multifaceted approach.

That includes stricter enforcement of mining regulations, fair compensation, and resettlement for displaced communities, as well as sustainable mining practices.

Dr Obiri expressed concern about the widespread illegal mining activities, causing extensive destruction to cocoa farms, water bodies, and forest resources, and thereby undermining livelihoods of people.

Real Madrid is still contemplating the Bundesliga champion as Carlo Ancelotti’s replacement, while Xabi Alonso is unwilling to commit to Bayer Leverkusen for the course of the season.

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Although he is aware that Real Madrid is interested in him, Xabi Alonso wants to put off making a decision on his future until the end of the current campaign.

The former Spain international has been widely rumoured to be the front-runner to succeed Carlo Ancelotti in the Real Madrid dugout should the Italian depart this summer, but Alonso has decided not to commit his future to defending Bundesliga champions Bayer Leverkusen and will wait until the end of the season to make a decision, according to a report from MARCA.

Alonso took over the reins at Bayer Leverkusen at the end of 2022, when the club was flirting with relegation. The former Liverpool, Bayern Munich, and Real Madrid midfielder instantly transformed Leverkusen from relegation-battlers to one of the most entertaining teams in the Bundesliga, guiding them to a sixth-place finish and the Europa League semi-finals in his first season at the top level.

Then came the historic 2023-24 season, where Leverkusen got rid of their infamous ‘Neverkusen’ nickname by going unbeaten to clinch their first-ever league title. Additionally, they won the DFB-Pokal and finished as runners-up in the Europa League, with their shock 3-0 loss to Atalanta in the final their only loss of the entire season.

Alonso’s tactical nous and man management has attracted interest from the biggest clubs in Europe. Liverpool and Bayern Munich were keen last summer, but he rejected them in favour of building his project at the BayArena. Things may, however, look different at the end of the current season.

Given Alonso’s ties to Real Madrid as a former player, it felt inevitable that he would be linked with the club’s head coach job. In 2024, both Ancelotti and Alonso renewed their contracts with their respective clubs until 2026. The Italian has time and again reaffirmed his stance when it comes to his future at the Santiago Bernabeu.

“Hahaha. I want to be very clear: I will never decide the date of my departure from this club in my life,” the 65-year-old stated in January, explaining that he has no desire to step down. “I know perfectly well that it will come one day, but I will not decide that day.”

The anti-graft agency in Nigeria recovers around $500 million in a year.

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According to Nigeria’s Economic and Financial Crimes Commission, it retrieved around $500 million in criminal gains in the previous year.

The agency’s anti-graft campaign, which was started by the administration of President Bola Tinubu, includes the recovery attempt.

In addition, 975 residences, firm shares, and more than 931,000 metric tonnes of petroleum products were confiscated.

Additionally, the commission achieved almost 4,000 criminal convictions, the most since it was established more than 20 years ago, according to a report released on Monday.

The agency says some of the recovered money has been reinvested in government projects.

Nigeria has struggled for decades with endemic corruption, which many say contributes to widespread poverty.

The country is ranked 140 out of 180 on Transparency International’s latest Corruption Perception Index.

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