Kofi Ahovi

Judith Kokui, founder of the Restored and Renewed Center, has been nominated for the MTN Heroes of Change initiative for her tireless efforts in helping women overcome addiction. Her center, the first all-female rehabilitation center in Ghana, has helped reunite over 30 families and provided a safe space for women to recover from substance use disorders. According to Judith, "Witnessing another person overcome addiction is truly one of the best experiences. Recovery represents life, and I feel so excited and happy whenever someone achieves it." Judith's motivation for establishing the center stems from her experience working in the field of addiction since 2009. She noticed a significant disparity in facilities catering to men versus women, with some centers having as many as 72 spaces for men but only 12 for women. The Restored and Renewed Center offers therapy sessions, focusing on the 12-Steps Program and Cognitive Behavioral Therapy (CBT). Judith explains, "Cogni...

 The Ghana Chamber of Mines is calling for increased funding for the Ghana Geological Survey Authority (GSA) to support comprehensive resource assessment and de-risk Ghana's mineral deposits. Ahmed Nantomang, External Affairs and Communications Director at the Ghana Chamber of Mines, in a press briefing explained that "Enhanced funding would help position the state for independent development or strategic partnerships, ultimately benefiting all citizens." The Ghana Geological Survey Authority plays a critical role in advising, promoting, and researching geoscientific issues concerning mineral resources, groundwater, environment, geo-hazards, and land use planning. With increased funding, the GSA can provide more accurate and comprehensive data, enabling informed decision-making and strategic partnerships" the Chamber noted. The Chamber also commended the government's recent efforts in combatting illegal mining and protecting Ghana's forests and water bodies. ...

The Ghana Chamber of Mines is renewing its call for a legislative framework similar to the Petroleum Revenue Management Act to be introduced in the mining sector. According to Ahmed Nantomang, External Affairs and Communications Director at the Ghana Chamber of Mines, "Such a policy would highlight mining’s significant role in national development." This call comes in response to concerns that mining has not benefited the country. However, the Chamber argues that the sector has made significant contributions to Ghana's economy. Between 2020 and 2023, member companies spent an average of $2.87 billion annually on locally sourced goods and services, while tax contributions and corporate social investments averaged $1.19 billion and $32 million, respectively. The Chamber emphasizes that these domestic expenditures are the primary channels through which mineral revenues support national development. In fact, approximately 75% of mineral revenues were repatriated through local...

 The Ghana Chamber of Mines has reaffirmed its commitment to working with the Ministries of Lands and Natural Resources and Finance to find solutions that mitigate the impact of the Growth and Sustainability Levy (GSL) on financially distressed companies. This commitment comes amidst concerns over the proposed increase in the GSL from 1% to 3%. According to Ahmed Nantomang, External Affairs and Communications Director at the Ghana Chamber of Mines, "We are committed to collaborating with the Ministries of Lands and Natural Resources and Finance to find solutions that mitigate the levy's impact on financially distressed companies while supporting government revenue goals."   Ahmed Nantomang, External Affairs and Communications Director at the Ghana Chamber of Mines The GSL increase has raised concerns among mining companies, particularly those producing manganese and bauxite, which have not benefited from the recent gold price surge. The Chamber has emphasized the need for...

 The African Evaluation Association (AfrEA) has launched a pioneering initiative in collaboration with the German Institute for Development Evaluation and the World Food Programme (WFP) to undertake the National Evaluation Capacities Index (INCE) in Africa. This innovative project aims to enhance national evaluation capacities, promote data-driven decision-making, and champion sustainable development across the continent. The pilot phase of the INCE in Africa will be conducted in six countries: Ghana, Benin, Congo, Morocco, South Africa, and Tanzania. Government officials and national consultants from each of these countries are currently undergoing training to better understand the INCE concept. The INCE is a groundbreaking tool designed to assess and strengthen national evaluation capacities, enabling countries to make informed decisions and drive sustainable development. By promoting data-driven decision-making, the INCE will help countries to better allocate resources, track pr...

 Scancom PLC (MTN Ghana) wishes to remind its Shareholders of its 7th Annual General Meeting (AGM) which will be held in person at the Accra International Conference Center and virtually via www.mtnghagm.com on Thursday, March 27, 2025, at 11:00 GMT. MTN will reimburse Shareholders on MTN's network who incur charges. Shareholders without smartphones may participate in the AGM by dialing +233244300025, entering the access code 8000, or entering the conference PIN 056789. A unique token number has been sent to Shareholders by email and/or SMS to grant access to the AGM. Participation through the virtual link will be free for all Shareholders on MTN's network. The agenda for the AGM is as follows: To receive and consider the Audited Financial Statements together with the reports of the Directors and Auditors thereon for the year ended December 31, 2024; To declare a final dividend for the year ended December 31, 2024; To re-elect or appoint Directors of the Company: 3.1 To re-elec...

 Nestled within the enchanting Bono East Region, the Bonomanso Waterfalls is emerging as a captivating destination for ecotourism enthusiasts. While the Kintampo Waterfalls remains the crown jewel of the area, drawing visitors from across Ghana, Bonomanso is carving out its niche as a vibrant recreational site. The seven-meter cascade, located just 100 meters off the bustling Techiman-Kintampo highway in the Nkoranza North District, offers a stunning spectacle. This breathtaking waterfall tumbles from massive rocks into a serene plunge pool, which, until recently, remained a sacred site rather than a tourist attraction. The pool, encircled by dense foliage, has been transformed by a local youth group known as Quest Crew. Recognizing the potential for ecotourism, Quest Crew has spearheaded an initiative to clear the surrounding bush and desilt the pool, which reaches depths of up to four meters. This grassroots effort reflects the community's commitment to sustainable tourism and en...

 The Newmont Ahafo Development Foundation (NADeF), recognized as the corporate social responsibility arm of Newmont Ahafo Mine, has made a substantial investment totalling GH¢66,045,955 in various infrastructure projects across ten communities in the Ahafo Region from 2009 to 2024. The Foundation's projects aim to elevate the quality of life for residents by enhancing access to essential services in critical sectors, including health, education, water, and sanitation. The communities benefiting from this initiative are Kenyasi No. 1, Kenyasi No. 2, Ntotroso, Gyedu, Wamahinso, Yamfo, Susuanso, Afrisipakrom, Terchire, and Adrobaa. Infrastructural development is a core focus for NADeF, with approximately 25 percent of its funding earmarked for these impactful projects. This commitment reflects NADeF's mission to empower local communities through grants, knowledge sharing, partnerships, and capacity building, all aimed at achieving sustainable development. This information was high...

 Stephen Mensah, a 90-year-old elder of Ewoyaa, a tiny community in Ghana’s Central Region, would soon lose the place he has called home for nearly a century. If Ghana’s legislators approve a critical mining deal, greenlighting resource extraction, Mensah, his family, and 400 residents of Ewoyaa will be forced to leave their ancestral land, leaving behind memories and livelihoods tied to the land. Ewoyaa has become Ghana's hotspot for lithium, a critical mineral for electric vehicles and renewable energy industries. A Mining Lease Agreement to mine the mineral in Ewoyaa is currently before Parliament, awaiting ratification required by Atlantic Lithium, a subsidiary of Australian-based Bowery GB, to start mining in the community. This will displace the Ewoyaa people and cause environmental loss, including the destruction of farms, medicinal plants, and wildlife habitats. Atlantic Lithium, which describes itself as an Africa-focused lithium exploration and development company, has al...

 The Minister for Finance, Hon. Dr. Cassiel Ato Forson, has reaffirmed Ghana’s commitment to deepening economic cooperation with the United Kingdom following a high-level meeting with the UK Trade Envoy to Ghana, Bell Ribeiro-Addy, and Akosua Dentaa Amoateng MBE. During the discussions, Hon. Dr. Ato Forson underscored the urgent need to finalize the bilateral agreement between Ghana and the UK. He noted that ongoing debt restructuring had delayed several critical projects, and securing this agreement would provide the necessary support for their swift commencement. With France already committing to a similar agreement, he expressed optimism that the UK would follow suit soon. Beyond trade and investment, the meeting also explored opportunities for technical collaboration, particularly in tax administration. The Minister highlighted Ghana’s plans for a major VAT reform and expressed interest in learning from the UK’s highly efficient VAT system. He emphasized the importance of foste...

  Last week, Accra, Ghana hosted the 2nd Global Congress of the Africa Genetic Biocontrol Consortium, bringing together approximately 150 participants from 25 institutions across 15 countries to discuss critical issues surrounding genetic biocontrol technologies. The four-day event featured pre-congress workshops, panel discussions, and exhibitions that showcased various genetic biocontrol products and services. Attendees included African national and international professionals from scientific institutions, academia, pharmaceuticals, biotechnology research, development organizations, and science communication. Under the theme “Harnessing Biocontrol Potential Solutions in A Changing Climate,” this year's congress aimed at building cooperation and collaboration in the scientific community. The event was jointly organized by the Ghana National Biosafety Authority (NBA) and the African Genetic Biocontrol Consortium. The inaugural Global Congress took place in Nairobi, Kenya, in August...

 Dr. Angela Dwamena, a lawyer and founder of The Ark Foundation, has dedicated her life to supporting women and children who have experienced abuse. For 25 years, her organization has provided a safe haven, empowerment, and advocacy for victims of domestic violence, rape, and sexual assault. Dr. Dwamena's journey began with a personal realization. "I grew up sensing that something was wrong with how men and women interacted," she explained. "I noticed discrimination against women in various ways, even in my own home. This realization motivated me to pursue a career focused on helping abused women and children." The Ark Foundation offers a comprehensive approach to supporting victims of abuse, providing direct support, advocacy, and community sensitization programs. Dr. Dwamena initiated a crisis center where victims can find refuge, offering counseling services, legal support, and medical assistance. Over the past 25 years, The Ark Foundation has achieved remark...

  It was a night of exquisite cuisine, music, and insightful conversations as Standard Chartered hosted an exclusive Afro-Asian dining experience for its female affluent clients in commemoration of International Women’s Day.  Throughout the night, guests enjoyed a specially curated menu showcasing dishes from West Africa, North Africa, South Africa, and Asia and participated in a taste-testing session, identifying ingredients while delving into the vibrant culinary fusion of Afro-Asian flavors. The evening blended fine-dining and finance seamlessly, creating a relaxed yet engaging atmosphere to discuss wealth growth and protection strategies.  Dr. Setor Quashigah, Head of Affluent and Wealth Management  expressed the Bank’s commitment to empowering its female clients, “We couldn’t think of a more engaging way to celebrate our clients this International Women’s Day than by hosting an experience that is both indulgent and insightful. One that not only delights your ta...

  PricewaterhouseCoopers (PwC) has called on the government to reconsider its proposed 3% increase of the Growth and Sustainability Levy, warning that the move could place an excessive burden on the mining sector. The government has defended the planned hike, stating that it aims to ensure a fairer share of revenue from the mining industry, particularly when global commodity prices are favorable. However, Abeku Gyan-Quansah, a tax partner at PwC, argues that rather than increasing the levy, the government should focus on strengthening the enforcement of mining royalties. But let’s pause for a moment—I don’t support multiple tax rates. This is essentially a tax on production, and we already have a similar one in the form of royalties. Could we have simply adjusted the royalty rate instead?” he questioned. He also expressed concerns over the long-term nature of such levies. “Historically, we’ve seen so-called ‘temporary’ taxes remain in place for decades. Since 2000, successive gover...

For the first time this year, the government has fallen short of its Treasury bill target, missing it by GH¢2.8 billion. Data from the Bank of Ghana (BoG) shows that the government aimed to raise GH¢6.14 billion from short-term instruments but received bids totaling GH¢3.32 billion, representing a 45% undersubscription. Despite the shortfall, authorities rejected GH¢1.67 billion in bids. A breakdown of the auction results reveals that out of GH¢3.6 billion tendered for the 91-day Treasury bill, GH¢2.33 billion was accepted. The 182-day bill attracted GH¢741 million in bids, with GH¢574 million accepted. For the 364-day bill, GH¢622 million was tendered, but only GH¢406 million was accepted. Meanwhile, interest rates on Treasury bills remained stable, ranging between 15% and 18%. The 91-day bill dipped by 15 basis points to 15.73% from last week’s 15.88%. The 182-day bill was unchanged at 16.93%, while the 364-day bill saw an 87-basis point increase to 18.85% from 17.98%. Market analyst...

  The Bank of Ghana’s Monetary Policy Committee (MPC) will commence its 123rd meeting today to assess economic conditions and implement measures to maintain financial stability. This three-day meeting, the first under newly appointed Governor Dr. Johnson Asiamah, will conclude with a key policy announcement on Friday, March 28, 2024. The MPC last held the policy rate at 27% in January 2025, citing persistent inflationary pressures. However, the Central Bank now faces a more complex decision, as inflation remains high, and debt concerns persist among other economic issues. For over two years, inflation has hovered in the low twenties, recording 23.2% in 2023 and 23.8% in 2024, with the latest rate standing at 23.1% as of February 2025. Meanwhile, Treasury bill rates have been steadily declining, raising concerns about liquidity management and investor confidence in government securities. With the government targeting an end-of-year inflation rate of 11.9% and a 4.4% overall real GDP...

 The Ghana Association of Banks (GAB) is optimistic about a potential cut in the monetary policy rate as the Bank of Ghana’s (BoG) Monetary Policy Committee begins its 123rd meeting today, Monday, March 24, 2025. With the policy rate currently at 27% and inflation moderating to 23.1% in February, GAB President Kwamina Asomaning believes there is a strong case for a rate cut. Speaking to the media on the sidelines of the Association’s 2025 Cocktail and Networking Session, he pointed to stabilizing market conditions, a steady local currency, and a slowdown in food price increases as key factors that could influence the BoG’s decision. The policy rate we believe follows the inflation rate. Inflation has stayed around 23%. The pace of disinflation has been a lot slower over the last few months as compared to how we will have it. What market watchers are looking to see is whether the expectation for inflation would have dropped enough for the policymakers to make a move. “We feel that j...

  PwC Ghana, a firm responsible for generating audits, assurance, and tax services across various sectors, has conducted a rigorous review of the 2025 Budget presented by the Minister for Finance, Dr. Cassiel Ato  Forson, on March 11, 2025. According to PwC, the government, through its budget presentation, has given clear expression to the economic reset agenda, a commitment it made to Ghanaians during the campaign trail. Referencing PwC’s 2023 Mid-Year Budget Digest, published in August 2023, the firm stated that its long-standing stance on the urgent need for an economic reset. It stated, “Ghana’s economy urgently needs a reset, perhaps more urgently than many might have thought.” The report further emphasized that “…the economy remains vulnerable and urgently needs the structural adjustment (i.e., reset) that we [PwC] have long spoken about.” Additionally, PwC cautioned in its 2023 report that “…businesses and households should continue to tighten their belts before things ...

 Tullow Ghana and its partners have announced a planned 16-day maintenance shutdown of the Jubilee Oil Field, set to begin on Tuesday, March 25, 2025. The maintenance exercise aims to enhance production efficiency, upgrade key operations, and minimize operational risks in the offshore field. As part of the scheduled works, critical repairs and upgrades will be carried out on the Kwame Nkrumah FPSO (Floating Production, Storage, and Offloading) vessel. Key activities will include retooling essential equipment, conducting leak tests, and upgrading facilities to accommodate increased gas export capacity. The announcement follows Tullow Ghana’s successful completion of a 4D seismic survey on both the Jubilee and TEN fields. This survey is designed to identify future drilling prospects and support long-term resource sustainability. To mitigate the impact of the shutdown on Ghana’s energy supply, Tullow Ghana has reached an agreement with the government to temporarily source gas from the...

 Finance Minister, Dr. Cassiel Ato Forson, has assured that government is taking decisive steps to meet its next International Monetary Fund (IMF) review in April by addressing structural benchmarks missed under the previous administration. He asserts that corrective measures are already underway to strengthen the country’s economic performance and sustain its recovery efforts. Dr. Forson made these remarks during a meeting with the German Ambassador to Ghana, H.E. Daniel Krull, where discussions focused on Ghana’s economic progress, energy sector reforms, and bilateral cooperation. Regarding the IMF programme, we are committed to addressing the structural benchmarks missed under the previous administration, assuring that corrective measures are already in progress and will soon be visible”, the Minister said. In the context of Ghana’s ongoing debt restructuring, Dr. Forson highlighted the substantial progress the country has made, with a primary focus now on finalizing bilateral a...

  The Governor of the Bank of Ghana (BoG), Dr. Johnson Asiama, has vowed to enhance transparency in the central bank’s decision-making process as the 123rd Monetary Policy Committee (MPC) meeting commences. Addressing concerns that MPC decisions are made behind closed doors, Dr. Asiama proposed publishing voting outcomes and simplifying policy statements to make monetary decisions more accessible to businesses and the public. “There’s a growing sense in public commentary that MPC decisions are taken behind closed doors without clear, data-driven reasoning. To counter this, I am proposing that we implement mechanisms to make the Committee’s decision factors more accessible—whether through publishing voting outcomes or enhancing the narrative content of our policy statements. Similarly, we need to work on simplifying the way we present forecasts so the public and market participants can better understand the underlying policy story. These changes, in my view, will strengthen our cred...

  Ghana’s fastest-growing bank, OmniBSIC Bank Ghana Limited, has posted impressive results in 2024, with a two-fold rise in profit and a robust balance sheet, consolidating its ability to support the economy and businesses to expand. The bank’s financial statements showed that profit rose by 109 percent in the year under review to GH¢314 million, boosted by strong growth in operating income and well-controlled costs. The 2024 results also indicated that OmniBSIC Bank enjoyed robust growth in total assets to end the year very liquid and well-capitalised, making it a preferred partner for businesses and individuals aiming to grow. Growing customer trust The fully indigenous lender has emerged as one of the most successful merger stories in the financial services industry, having delivered endearing products and services, leading to consistent strong financial performance. OmniBSIC Bank has reinforced its corporate governance structures and invested in its infrastructure to align with...

 A delegation of members of the Parliamentary Press Corps has embarked on a media tour of Zoomlion Ghana Limited's (ZGL) state-of-the-art facilities in Accra on March 19, 2025. The tour, which formed part of Zoomlion’s engagement with the media, afforded the delegation insight of the company's operations. The team's first stop was Sewage Systems Ghana Limited (SSGL), where the General Manager, Lola Asiseh Ashitey, briefed them on her company's operations. She detailed how the company, established in 2017, has revolutionised wastewater treatment in Ghana. Before our establishment, wastewater was discharged directly into the sea. Today, we treat wastewater from homes, process faecal waste, and operate six treatment plants in locations like Lavender Hill, Kotoku, Kumasi, and Takoradi. Our goal is to have treatment plants in all 16 regions of Ghana,” she recounted. Beyond waste treatment, the company maximises its by-products. Solid waste is converted into charcoal and comp...

  Kintampo Rural Bank PLC, a financial institution in the Bono East Region, has launched an innovative financial product tailored for Micro, Small, and Medium-sized Enterprises (MSMEs). In collaboration with Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH and funding from the German Federal Ministry for Economic Cooperation and Development (BMZ), the bank has introduced the ‘MSME Financing’ initiative, aimed at alleviating the financial challenges faced by small businesses. This new product offers affordable credit, simplified payment systems, and expert financial guidance, directly addressing the unique issues that prevent MSMEs from accessing vital financial support. Key features of the MSME Financing initiative include: - Prompt Disbursement - Reduced Interest Rates - Flexible Repayment Terms - Door-to-Door Cash Collection - Mobile Banking Services - Financial Literacy Training The MSME Financing product is available at all six branches of Kintampo Rural Bank ...

  Former Finance Minister Dr. Mohammed Amin Adam has defended the Akufo-Addo administration’s borrowing practices, arguing that loans secured during the COVID-19 pandemic were essential and should not be deemed reckless. In an interview on  The Point of View   with Bernard Avle on  Channel One TV  on Monday, March 17, Dr. Amin Adam questioned criticisms of the government’s debt strategy. I don’t know how anybody would describe the borrowing to address the COVID-19 pandemic as reckless borrowing. I don’t know if anybody is right to call that reckless borrowing,” he stated. He emphasized that responsible debt management involves strategic borrowing and sustainability. It takes a government that understands debt dynamics to be able to borrow and negotiate a reduction in debt. And so, if we borrowed from an unsustainable level, the question should be, by the time we left, were the debt levels sustainable or not?” he added. Dr. Amin Adam also pointed out that every a...

 Former Finance Minister Dr. Mohammed Amin Adam has commended his successor, Dr. Cassiel Ato Forson, for abolishing certain taxes introduced by the previous administration. In the 2025 budget presented on March 11, Dr. Forson announced the removal of taxes such as the betting tax and E-Levy, aiming to alleviate the financial burden on Ghanaians. In an interview with Bernard Avle on  Channel One TV’s “The Point of View ” on Monday, March 17, Dr. Amin Adam praised these tax cuts. But he expressed concerns over the substantial increase in the Growth and Sustainability Levy on mining companies from 1% to 3%. He cautioned that heavily taxing sectors crucial to economic growth, like mining, could be counterproductive I think that he has delivered, but I think that he has also imposed additional taxes. For example, the Growth and Sustainability Levy increased by 200% from 1 to 3%. If the sector that gives you growth is the sector that you are heavily taxing more, then what kind of ec...

  The Managing Director of the Tema Oil Refinery (TOR), Dr. Yussif Sulemana, has revealed that the refinery requires an estimated $25 million to undergo a complete revamp and resume full operations. His statement comes at a time when Ghana’s petroleum sector is grappling with challenges such as rising fuel prices, heavy reliance on imports, and the underutilization of local refining capacity. Addressing journalists in Accra on Monday, March 17, Dr. Sulemana emphasized the urgent need for investment to restore TOR to optimal performance. He stressed that revamping the refinery would enable the production of petroleum products that meet international standards and reduce Ghana’s dependence on imported refined fuel. He further disclosed that seven companies have shown interest in investing in the refinery’s revival, with varying levels of commitment. A credit partner will come and partner with us, and some are interested in doing everything. Some want to take up the entire facility of...

 The Deputy Minister of Finance, Thomas Ampem Nyarko, has reaffirmed the government’s commitment to ensuring disciplined implementation of the 2025 budget, which has received widespread praise from Ghanaians. Speaking at the Oxfam Tax Dialogue on Channel One TV, the Deputy Minister emphasised the importance of translating the budget’s promises into tangible results to build public trust and foster economic recovery. I understand those who say you have a wonderful budget. What is left is the implementation. So, what we are going to commit to do is to be disciplined with the wonderful budget that has received a lot of accolades from Ghanaians. We will commit to follow through not just with the preparation of the budget but also with the implementation of it. “So that next year by this time we can have better things to show Ghanaians that we called on you to make sacrifices and these are the results of it. Based on that if we call on Ghanaians to sacrifice some more, Ghanaians will be...

  Samuel Issah Abdulai, a 28-year-old driver who was nabbed on his wedding day for fraud has appeared before an Accra Circuit Court. Abdulai is alleged to have collected GH₵352,000 from three complainants under the pretext of securing visas for them but failed. The accused promised to secure electronic visas of Mongolia, Georgia, Albania, and Malaysia. Charged with three counts of defrauding by false pretenses and forgery of documents, Abdulai has pleaded not guilty. The Court presided over by Mr Samuel Bright Acquah has admitted the accused to bail in the sum of GH₵150,000 with three sureties, one to be justified. The accused person was ordered to report to the Police once every two weeks by the Court. The prosecution led by Chief Inspector Daniel Danku said the complainants were Ohenewa Sarah and Matilda Ayaaba, both traders, and Aisha Ahamed, a businesswoman all residing in Accra. Chief Inspector Danku said Abdulai resides at Nkawie in the Ashanti Region. The prosecution said be...

  The President of the Association of Ghana Industries (AGI) for Greater Accra, Tsonam Akpeloo, has described the 2025 budget as promising and sustainable, particularly for the private sector. According to him, the scrapping of the Electronic Transaction Levy (E-Levy) will have a significant impact on businesses, as many of their financial transactions were subject to double charges due to the existence of the levy. Speaking at the Oxfam Tax Dialogue on Channel One TV on March 18, Akpeloo emphasized that eliminating some taxes would ease the burden on businesses, especially Small and Medium Enterprises (SMEs), which rely heavily on mobile money transactions. “The budget looks promising, even though we are not yet out of the hook, we still have concerns but it looks promising. It comes across as a more stabilized budget for us in the private sector. Especially because some of the taxes that we have always advocated have been taken out, like the E-Levy for example. “If you follow adv...