Kofi Ahovi

  By Kofi Ahovi The Public Interest and Accountability Committee (PIAC) has raised concerns over Ghana’s declining crude oil production and the underutilisation of petroleum revenues, warning that the country risks further setbacks without urgent reforms and new investments in the sector. In its 2025 Annual Report, PIAC disclosed that Ghana’s crude oil production declined for the sixth consecutive year, falling from 71.44 million barrels in 2019 to 37.3 million barrels in 2025, representing an average annual decline of about nine percent. According to the report, the downward trend is being driven by natural depletion of mature oil fields, technical challenges and limited upstream investment. The report confirms a sustained decline in Ghana’s crude oil production, which has now fallen for the sixth consecutive year,” PIAC stated, noting that the situation reflects “a combination of maturing fields, natural reservoir depletion, technical challenges, and limited upstream investment,”...

 Ghana’s financial sector staged a significant recovery in 2025, with total assets reaching GH¢647.25 billion, representing roughly 45.1% of the nation’s GDP, according to the latest Financial Stability Review. The milestone comes on the back of a strong domestic economic performance in which real GDP growth accelerated to 6.0%, surpassing the 5.8% recorded the previous year. Launching the review in Accra, the Second Deputy Governor of the Bank of Ghana, Matilda Asante-Asiedu, said this year’s theme — “From Stress to Stability: Staying on Course” — reflects the financial sector’s resilience following years of economic turbulence and debt restructuring pressures. The theme reflects how the financial sector has navigated through the twin stresses — the macroeconomic shocks and the debt restructuring risks over the past few years — to the current state of stability that we enjoy,” she said. “It also reflects the resolve of the financial sector regulators to stay on course of stability...

  Government has explained that the decision to transition to the Non-bailout Technical Assistance Policy Coordination Instrument (PCI) under an International Monetary Fund (IMF) is to complement government’s effort to achieve Investment Grade rating. Ghana today, May 15, successfully completed its Extended Credit Facility (ECF) financial bailout programme with the IMF. A statement released by the Presidency explained that the PCI will help achieve Investment Grade rating to significantly lower sovereign and private sector borrowing costs. In addition, government said the PCI will help attract long-term institutional investors, increase foreign direct investment, and unlock cheaper financing for critical infrastructure development and private sector growth. Ultimately, this engagement will support government’s effort to accelerate sustainable development, create jobs and raise living standards for all Ghanaians”, the statement said. It added that President John Mahama and his admin...

  A rescue operation at a mining concession in the Asante Akyem Central Municipality ended with a mix of relief and anxiety on Friday, May 15, after 10 miners were pulled from the rubble of a collapsed underground pit. The incident occurred on a site belonging to Northern Mines Limited in Konongo, a well-known hub for gold mining in the Ashanti Region. While nine were successfully rescued with minimal injuries, witnesses say one remains in a critical condition at a local medical facility, battling life-threatening injuries sustained during the cave-in. The collapse reportedly happened when a section of the underground tunnel gave way without warning. Fellow miners and local emergency responders acted swiftly, using manual tools and excavators to reach the trapped men. The Konongo collapse is not an isolated event but part of a safety crisis within Ghana’s mining sector. While the large-scale, multinational mines often maintain rigorous safety protocols, the medium-to-small-scale co...

  Accra is set to host the 7th edition of the Africa Ports Forum from May 20 to 21, 2026, bringing together key stakeholders from Africa’s maritime, port and logistics sectors to discuss the future of trade and transport infrastructure on the continent. The two-day forum, scheduled to take place at the Accra Marriott Hotel, is being organised by One Africa Forums under the high patronage of Ghana’s Ministry of Transport and Tanger Med Group. The event is expected to attract participants from about 20 countries, including ministers, port authorities, regulators, terminal operators, shipping lines, logistics providers, investors, development institutions and technology firms. Organisers say the forum has, since its inception in 2019, grown into a leading pan-African platform focused on port development, maritime connectivity and trade facilitation across Africa. Previous editions have been hosted in cities including Tangier, Djibouti City, Douala, Abidjan, Cotonou and Libreville. Thi...

  MTN Ghana Foundation has reaffirmed its commitment to education as a powerful driver of social transformation, as beneficiaries of its flagship Bright Scholarship emerged as top award winners and valedictorians at the end of their tertiary education. The outstanding achievements of the scholars underscore the impact of MTN Ghana Foundation’s deliberate investment in academically gifted but financially constrained students, an intervention designed not only to fund education, but to unlock opportunity, restore confidence and break cycles of disadvantage. Eight Bright Scholarship beneficiaries who distinguished themselves across various tertiary institutions were celebrated by the Foundation for their academic excellence, resilience, and determination, reflecting the Foundation’s belief that when potential is supported with purpose, excellence follows. The event gave the valedictorians a platform to recount the personal journeys that carried them from humble beginnings to the pinna...

  The Ghana Chamber of Mines has rejected claims that Ghana’s repeated engagements with the International Monetary Fund are linked to foreign participation in the mining industry. Speaking at the press conference, Chief Executive Officer of the Chamber, Ign. Kenneth Ashigbey, argued that the mining sector has consistently served as a stabilising force for Ghana’s economy through foreign exchange earnings, taxes and employment generation. According to the Chamber, the mining sector contributed approximately GHS19 billion in taxes in 2025, representing nearly 23 per cent of Ghana’s direct domestic tax collections. Ashigbey maintained that the country’s economic challenges should not be blamed on large-scale mining operations. The empirical evidence does not support such a proposition,” he stated. Instead, the Chamber pointed to the low tax contribution from the small-scale mining sector despite its high gold production levels. It disclosed that small-scale mining operations produced ...

  The Ghana Chamber of Mines has renewed calls for reforms to Ghana’s mineral revenue distribution framework, proposing that at least 30 per cent of mineral royalties be allocated directly to mining communities. Speaking at the press conference, the Chamber’s CEO, Kenneth Ashigbey, said many infrastructure deficits in mining areas stem from weaknesses in the current revenue-sharing architecture rather than a lack of contribution from mining companies. According to the Chamber, the three main mining companies operating in Tarkwa — Gold Fields Ghana, Ghana Manganese Company and AngloGold Ashanti’s Iduapriem Mine — paid approximately GHS5.1 billion in taxes in 2024 alone. However, the Chamber noted that only a small portion of mineral royalty revenues currently reaches host communities and local assemblies. It is precisely in recognition of this structural imbalance that the Chamber has consistently and formally advocated for a minimum statutory allocation of 30% of mineral royalty re...

  The Ghana Chamber of Mines has called for due process and constructive engagement following the government’s revocation of mining leases belonging to Adamus Resources Limited. Addressing journalists at the press conference, the Chamber’s Chief Executive Officer, Ign. Kenneth Ashigbey, acknowledged the seriousness of allegations raised by the Minerals Commission against Adamus Resources. The Ministry of Lands and Natural Resources revoked the Akango, Salman and Nkroful mining leases following investigations into alleged breaches of the Minerals and Mining Act. While reaffirming the Chamber’s commitment to responsible and lawful mining, Ashigbey noted that Adamus and its legal representatives had questioned whether statutory notice procedures were properly followed before the revocation. The Chamber is equally mindful of the importance of due process in regulatory and enforcement actions,” he said. According to him, procedural safeguards under Ghana’s mining laws are essential to p...

  The Ghana Chamber of Mines has defended the planned renewal of Gold Fields Ghana’s Tarkwa Mine lease, warning that attempts to block the extension could undermine investor confidence and threaten the long-term stability of Ghana’s mining sector. Speaking at the press conference, Chief Executive Officer of the Chamber, Ign. Kenneth Ashigbey, rejected calls by the Institute of Economic Affairs (IEA) for government to deny the lease renewal application. According to the Chamber, Ghana’s mining laws clearly provide for lease extensions where mining companies have complied with statutory obligations. The renewal of the Tarkwa Mine lease is properly a matter to be determined through the established legal, administrative and commercial processes governing mining lease renewals,” Ashigbey stated. Ashigbey argued that Ghana’s emergence as Africa’s leading gold producer had been built on policy continuity, investor confidence and long-term capital inflows from both local and foreign mining...

 The Chairman of The Church of Pentecost, Apostle Dr. Eric Nyamekye, has urged staff of Zoomlion Kenya to prioritise competence, integrity and faithfulness as the company deepens its operations in East Africa. Addressing workers and management during a visit to the company’s Nairobi facility on Wednesday, May 13, 2026, Apostle Nyamekye said sustainable national and corporate development depends not merely on natural resources, but on sound governance systems, disciplined work ethics and quality human capital. According to him, countries that have attained prosperity did so through effective policies and principled leadership, stressing that competence and moral integrity must remain central to recruitment and leadership decisions. Faithfulness is a universal principle that transcends religion,” he stated, adding that integrity remains one of the rarest yet most valuable assets in business and public life. Apostle Nyamekye encouraged the staff to remain committed to the company’s vi...

 Chief Executive Officer of MTN Ghana, Stephen Blewett, has reaffirmed the company’s long-term commitment to Ghana, announcing major investments in network expansion, improved customer experience and future technologies as part of its 30th anniversary celebrations. Speaking in an interview after the launch of MTN Ghana’s 30th anniversary celebrations in Accra, Blewett said the milestone was not only about commemorating the company’s achievements but also celebrating customers and employees who had contributed to its growth over the years. It’s about celebrating our customers, our own people who have worked tirelessly to bring us where we are,” he said. “So that’s what this is about — celebrating 30 years together and recognising that we’re part of the fabric of Ghana.” He acknowledged that one of the biggest challenges over the years has been expanding and maintaining a reliable network across the country while meeting rising customer demand for data and mobile money services. You ...

 Ghana’s Minister for Communication, Digital Technology and Innovations, Samuel George, has challenged MTN Ghana to match its market leadership with improved service quality, affordable data and expanded nationwide connectivity as the telecom giant launched its 30th anniversary celebrations in Accra. Speaking at the anniversary launch, the Minister congratulated the company for its contribution to Ghana’s telecommunications growth over the past three decades, describing the milestone as a reflection of the country’s broader digital transformation journey. Reaching three decades is a significant milestone for any enterprise,” he said. “On behalf of the government of Ghana and the people of Ghana, I extend our congratulations to the board, management, staff, agents, partners and customers of MTN Ghana.” According to him, Ghana’s telecom sector has evolved from “a handful of fixed lines in the early 1990s to a modern, mobile-first, data-driven ecosystem” serving millions of subscriber...

 Prudential Bank LTD turned Mother’ Day celebration into a lasting act of kindness, by clearing the bills of patients at the Children’s Ward of the Tema General Hospital.   Speaking to the press, Head of Human Resources, Lilian Antwiwaa Asante, said the visit was inspired by the nurturing spirit associated with motherhood as well as the need to celebrate women. As a Bank, this initiative resonates deeply with us. Beyond the donation itself, we intentionally involved several staff in the presentation to demonstrate a platform where they could connect personally with the experience, interact with the children and find their own meaning in giving back,” she said. Asante noted that Mother’s Day often highlights the quiet sacrifices of mothers whose children are hospitalized. “On the hearts of every woman is the longing for the child. We chose this hospital, this ward, because we wanted to ease that burden. From this visit, we have all seen that giving back is not a nice thing...

  Top International Engineering (GH) Limited has pledged to work closely with government authorities to address concerns over delays in the Enchi–Elubo Road project following concerns raised by the Minister for Roads and Highways, Kwame Governs Agbodza. In a statement, the company acknowledged the Minister’s concerns regarding the pace of work on the project and reaffirmed its commitment to cooperating fully with the Ministry of Roads and Highways and the Ghana Highway Authority to improve progress on site. The company described the Enchi–Elubo Road corridor as a strategically important route that supports economic activity, regional trade, and the movement of people and goods within the Western Region and neighbouring areas. Top International Engineering stated that it remains committed to delivering quality infrastructure in line with contractual obligations and national expectations. The contractor also highlighted its track record in road construction, citing the successful com...

  Executive Director of Africa Education Watch, Kofi Asare, has criticised the continued payment of teacher trainee allowances, describing the policy as wasteful and financially unsustainable. According to him, the resources being used to fund the allowances could be redirected into more productive areas within the education sector, particularly the recruitment and payment of additional teachers. Speaking in an interview with TV3 Ghana on Tuesday, May 12, Kofi Asare argued that Ghana must begin re-evaluating long-standing education policies that consume significant public funds without necessarily delivering the best outcomes for the country’s education system. He maintained that teacher trainee allowances no longer serve their original purpose and should be scrapped in favour of investments that directly strengthen teaching and learning in schools. The allowance is wasteful. We won’t discuss it again. It is wasteful. Everybody knows it is wasteful. That amount can hire about 400 t...

  Prices of petroleum products are expected to rise from May 16, 2026, even if the government extends its current programme aimed at cushioning consumers against rising crude oil prices. This is according to the Chief Executive Officer of the Chamber of Oil Marketing Companies, Dr Riverson Oppong. Speaking to JOYBUSINESS in an interview, he outlined two possible scenarios depending on whether the policy is extended beyond its May 16 expiration date. Under the first scenario, where government extends the policy, petrol prices are expected to increase by about 2.5% to 3% per litre, potentially pushing a litre of petrol to around GH¢14.50. Diesel is also projected to rise by about 1.8% per litre, which could take the price to about GH¢16.50. According to him, “extending the policy will only lower the expected margin of increase at the pumps.” Under the second scenario, if government fails to extend the intervention, petrol prices could climb to about GH¢15.80 per litre, while diesel c...

  West Africa’s mining and power community has a new gathering point as the West African Mining & Power Expo (WAMPEX) will open its doors on 3 June 2026 at its new home - the La Palm Royal Beach Hotel, Accra, Ghana . The move reflects the growth of the event that, now in its 19th and biggest edition yet, has expanded alongside West Africa’s mining industry for over 32 years. Organized by dmg events in partnership with the Ghana Chamber of Mines and Events & Projects International Ltd (EPI) and endorsed by Ghana’s Ministry of Lands and Natural Resources, WAMPEX will bring together over 6,000 mining professionals, including procurement specialists, engineers, operations managers and business leaders, alongside more than 250 exhibitors from 20 countries across three days of sourcing, networking and high-level conference sessions. Speaking ahead of the event, Ing. Ken Ashigbey, Chief Executive Officer of the Ghana Chamber of Mines said, WAMPEX represents a critical platform fo...

  The leadership of the Importers and Exporters Association of Ghana (IEAG), led by its Executive Secretary, Samson Asaki Awingobit, on Tuesday, May 12, 2026, paid a formal courtesy call on the newly appointed Tema Sector Commander of the Customs Division of the Ghana Revenue Authority (GRA), Assistant Commissioner Michael Nelson, at the Long Room of the Tema Port. The visit formed part of efforts by the association to officially congratulate and welcome Assistant Commissioner Nelson following his appointment and assumption of office as Tema Sector Commander. Speaking during the engagement, Executive Secretary of the IEAG, Samson Asaki Awingobit, assured the new sector commander of the association’s continuous support and cooperation in helping him achieve his mandate of improving operations and enhancing efficiency at the country’s premier port. Awingobit emphasized the importance of strong collaboration between Customs authorities and stakeholders within the import and export sec...

 Business mogul Ibrahim Mahama has extended GH¢200,000 in financial support to xenophobia victim Emmanuel Asamoah to help him rebuild his life, while also offering to set up a cement distribution and construction hardware depot to support his new business direction. The financial assistance will enable Asamoah to take a one-month break to reunite with his family before returning to Ghana fully to begin preparations for a new business venture. The initiative followed days after Mahama assured the Minister for Foreign Affairs of his commitment to supporting Ghanaians affected by xenophobic attacks in South Africa. During a meeting at his office with Ghana’s High Commissioner to South Africa, Mahama urged Ghanaians living in South Africa to return home and contribute to national development through employment opportunities within his company, in line with their skills and expertise. He also encouraged Ghanaians facing difficulties abroad to return to Ghana to either establish business...

 Ghana delivered a spectacular opening to the 24th African Senior Athletics Championships, setting the tone for what promises to be an unforgettable competition. The opening ceremony, held at the University of Ghana Sports Stadium, was a vibrant display of culture, creativity, and national pride. From electrifying musical performances to visually stunning choreography, the event captured the essence of Ghana while celebrating the unity of the African continent. Dignitaries, athletes, and fans were treated to rich cultural showcases that blended tradition with modern expression, an intentional effort by organisers to present Ghana as both rooted in heritage and forward-looking. Chief of Staff, Julius Debrah, representing the President of the Republic of Ghana, in his opening address, described the unifying force of sports, calling it “one of the greatest instruments for shaping national pride, inspiring young people, and strengthening brotherhood across Africa.” He encouraged Africa...

 MTN Ghana has reaffirmed its commitment to building a resilient and inclusive digital economy by convening a refreshed edition of its Digital Music Conference at MTN House in Accra, bringing together over 100 stakeholders from across Ghana’s music and creative ecosystem. The high‑level forum brought together artists, music executives, publishers, rights administrators and digital platform managers to collectively examine how Ghana’s rapidly growing digital music landscape can be better structured to translate creativity, reach and cultural relevance into sustainable livelihoods. More than a knowledge‑sharing platform, the conference underscored MTN Ghana’s strategic role as an ecosystem convenor and enabler, using its digital infrastructure, platforms and partnerships to help address structural gaps in monetisation, rights management and value distribution within the music industry. Hiplife artiste Kwaw Kese asking a question during the MTN Digital Transformation Conference. Open...

 The Executive Chairman of Jospong Group, Dr. Joseph Siaw Agyepong, has urged African leaders to find African solutions for the continent’s development instead of depending on other regions. He said Africa has the answers to its own problems and called on leaders to unite and drive national growth. Addressing the opening of the Africa Forward Summit at the University of Nairobi in Nairobi, Kenya on Monday, May 11, Dr. Agyepong criticised the mindset that forces Africans to navigate restrictive conditions when accessing capital markets. Why should Africa export her problems when she can build industries to solve them? Why does Africa not have access to capital markets without tough conditions and restrictions? And why has Africa not yet fully utilized and harnessed the wealth of natural resources and human capital available to her?” he asked, presenting the three questions that have guided every decision he has made. The two‑day summit (11-12 May 2026), co‑hosted by Kenya’s Presiden...

  Chief Executive Officer of MobileMoney Fintech LTD, Shaibu Haruna, has called for stronger consumer protection frameworks to underpin Africa’s fast-growing digital lending ecosystem, warning that financial inclusion without safeguards could do more harm than good. Delivering a keynote address on responsible digital lending and consumer protection at the opening of the 3i Africa Summit in Accra, Haruna stressed that the speed of digital credit must be matched with transparency, accountability, and trust. In the time it takes to complete a sentence, a digital lender in Accra, Kampala or Dar es Salaam can approve thousands of loans. But we must ask ourselves—did the borrower understand the interest rates, the penalties, and the terms? If not, then we must pause. Because without protection, there is no inclusion, and inclusion without protection is a trap,” he said. He noted that digital lending has transformed access to credit across Africa, enabling millions of individuals and sma...

  By Kofi Ahovi Ghana has reaffirmed its readiness to respond to any potential nuclear or radiological emergency, with authorities outlining a comprehensive national framework with a proposal for National Disaster Management Organisation (NADMO) to play a key role. At a virtual media workshop organised by Nuclear Power Ghana, Alberta Blay, a member of the Engineering Development team at Nuclear Power Ghana and seconded from the Ghana Atomic Energy Commission, said Ghana’s emergency preparedness system is designed to minimise the impact of any nuclear incident on people, property and the environment. Blay explained that NADMO serves as the central coordinating body, working closely with multiple state agencies to ensure a swift and effective response in emergency situations. In Ghana, emergency preparedness for nuclear incidents is built on strong coordination, with NADMO leading and working together with relevant state institutions to protect lives, property and the environment,” s...

  In continuation of its unwavering commitment to community development and humanitarian support, Maison Yusif Fragrance has once again demonstrated that luxury and compassion can coexist beautifully. As part of the brand’s ongoing corporate social responsibility initiatives carried out every month, the Ghanaian artisan fragrance house selected the Osu Children’s Home as this month’s focus of support and care. The donation exercise was carried out in person by Suwebatu Shardow of the Olfactive Team alongside Baidawi Shamhuma, General Manager of Maison Yusif Fragrance. The visit formed part of the company’s larger vision of giving back to society through meaningful and impactful initiatives that continue to touch lives across Ghana and beyond. Over the years, Maison Yusif Fragrance has quietly contributed to numerous humanitarian causes, including the construction of boreholes for underserved communities, supporting children’s education by helping send young people to school, assist...

  As Accra prepares to host the 24th African Senior Athletics Championships, anticipation is building not just for elite competition, but for what promises to be one of the most vibrant multi-dimensional sporting events on the continent. Beyond the track, Accra 2026 is positioned as pure African athleticism. One that combines dynamic blend of sport, culture, youth engagement, and entertainment. According to the Local Organising Committee (LOC), the championship has been carefully curated to offer something for everyone. From fan zones and live entertainment areas to cultural showcases, the event aims to create an immersive experience that extends far beyond the stadium. In an interview with 3FM, Veronica Commey, Deputy Director General, National Sports Authority and member of the LOC said, “The fact that it’s been over 40 years and Ghana is hosting it for the first time, we just want everybody to have an experience” With an event that is creating an atmosphere where sport meets cul...

  A visiting mission team from the International Monetary Fund is expected to conclude the sixth and final review of Ghana’s Extended Credit Facility (ECF) programme on Friday, May 15, as discussions with government officials enter the final stretch. The IMF delegation, led by Ruben Atoyan, has been in Ghana since April 29 for the two-week assessment of the country’s economic reform programme under the US$3 billion support arrangement approved in 2023. Sources familiar with the engagement say discussions between the Fund and Ghanaian authorities are progressing largely as planned, although concerns remain over challenges in the energy sector, particularly funding gaps, restructuring efforts and fiscal pressures. Officials close to the talks indicate that the IMF is broadly satisfied with reforms in the monetary and banking sector, especially measures taken to address issues involving banks with significant state ownership. However, discussions surrounding one private commercial ban...