Kofi Ahovi

  The Court of Appeal has by a unanimous decision restored the license of GN Savings and Loans Company Limited.  That was after a three-member panel of the second-highest court quashed the decision of the High Court, which upheld the revocation of the license on the grounds that the decision to revoke the license was unfair and unreasonable. By the judgment, both the decision to revoke the license and the High Court decision to uphold same has been quashed. The court ordered the receiver should also hand over possession, management and control of the assets and other activities to shareholders of the company. Background  On January 4, 2019, GN Bank Limited was reclassified as a savings and loans company and consequently renamed GN Savings and Loans Company Limited. Seven months later, on August 16, 2019, the BoG, then under the leadership of Dr Ernest Addison, revoked the operating licence of GN Savings and Loans Company Limited and appointed Eric Nana Nipah as Receiver a...

  A medical doctor and the sister of the late engineer Charles Henry Amissah has initiated legal action against three major hospitals, several health professionals, and the Attorney General. She is alleging a series of negligent acts that she says led to her brother’s death following a road traffic accident in Accra. Dr. Matilda Amissah, acting as administratrix of her brother’s estate, is seeking GH¢20 million in general damages at the High Court in Accra. The case concerns a February 2026 incident that reignited public concern about Ghana’s recurring “No Bed Syndrome” in emergency healthcare delivery. The writ names the Ghana Police Hospital, the Greater Accra Regional Hospital, the Korle-Bu Teaching Hospital, some doctors and nurses, and the Attorney General’s Department. According to court documents, the deceased, a 29-year-old Electronic and Automation Engineer with Promasidor Ghana Limited, was involved in a hit-and-run accident on the Kwame Nkrumah Circle Overpass on Februar...

  Ghana has asked large-scale gold miners to sell 30% of annual output to the central bank as part of a revamped reserve-building drive, up from 20%, a senior official told Reuters, though miners say key commercial terms remain unresolved. Central banks globally are increasingly stockpiling bullion as soaring prices boost its appeal as a reserve asset. Ghana, Africa’s top gold producer, launched its bullion purchase programme in 2022, later securing an agreement with miners through the Ghana Chamber of ⁠Mines to supply 20% of annual output to the bank of Ghana (BoG). Gold reserves climbed to 19.2 metric tons in February, Bank of Ghana data showed, helping stabilise the Ghanaian cedi and rebuild external buffers as the economy recovers from its worst crisis in a generation. The government revamped the programme in February, targeting up to 157 tons (15 months of import cover) by 2028. This time, we intend to negotiate for 30% of annual production [from industrial miners] … with the ...

 The Bank of Ghana Governor, Dr. Johnson Asiama, has stated that Ghana’s economy is still showing signs of resilience despite a difficult external environment. According to him, the overall picture since end-March 2026 is one of a domestically resilient economy navigating an increasingly difficult external environment — with the energy price shock from the Middle East conflict now the central risk shaping the near-term outlook. He disclosed this at the opening of 130 th  Monetary Policy Committee Meeting. The Governor noted that despite these gains, early signs point to re-acceleration of headline inflation in several advanced and emerging market economies, prompting several central banks that had commenced easing cycles to pause or reverse course. For a commodity-exporting, energy-importing economy such as Ghana, he said the transmission channels of this external shock are multiple and material — through fuel prices, transportation costs, import bills, and ultimately consumer...

  The Bank of Ghana Governor Dr. Johnson Asiama has disclosed that Ghana’s current account surplus for the first quarter of this year exceeded the same period in 2025 by US$652 million. According to him, these are signs that Ghana’s economy is still evolving and continues to undergo economic and structural changes. He disclosed this at the opening of the Monetary Policy Committee Meeting today May 18, 2026, at the Bank Square. According to him, the successful resumption of domestic treasury bond issuance earlier in 2026 signals a return of investor confidence. Government has also successfully issued a 7-year bond instrument, and steps are being taken to lengthen the maturity profile of existing GoG instruments”, the Governor stated. According to him, all these developments show that the domestic economy is evolving and continues to undergo economic and structural changes. MPC Meeting and Risk to Decision Speaking at the meeting, the Governor said there are number of risks in the ou...

  Ghana’s mineral royalty receipts recorded a significant increase in the first quarter of 2026, with total inflows rising to more than GH₵2 billion, according to new data by the Minerals Income and Investment Fund (MIIF). The latest data reflects continued resilience in the country’s mining sector, largely driven by strong performance in the large-scale and mid-tier gold mining segments. The quarter one performance also signals a positive outlook for the year, following the Fund’s historic achievement of crossing GH₵5 billion in royalty receipts in 2025, the first time such a milestone has been recorded in the history of the Fund. The figures show that total mineral royalties increased from GH₵1.43 billion in the first quarter of 2025 to GH₵2.01 billion in the corresponding period of 2026, representing a 40 per cent increase in revenue mobilisation. The actual collections also exceeded MIIF’s first quarter 2026 forecast of GH₵1.57 billion by 28%. Large-scale Gold Mining Remains Bi...

  In a significant boost to the state's domestic mineral retention strategy, the Damang Gold Mine has successfully traded its second consecutive haul of refined bullion to the Ghana Gold Board (GoldBod), representing 100 per cent of its total operational output. The latest transaction, valued at 121 kilogrammes of gold (approximately 3,400 ounces), was processed at the GoldBod Assay Laboratory in Accra on Monday, 18 May 2026. This latest delivery marks an upgrade from the company’s inaugural transaction with the national regulator, which stood at 103 kilogrammes, solidifying Damang's position as the leading corporate supporter of the state's local gold-purchase framework. Receiving the precious minerals for testing and storage, the Technical Director of GoldBod, Michael Arko, highly commended the management of Damang Gold Mine and its parent company, Engineers and Planners, a wholly Ghanaian-owned conglomerate, for demonstrating unparalleled confidence in the government’s n...

 MTN Ghana has intensified efforts to support the growth and digital transformation of small and medium-sized enterprises (SMEs) in Ghana with the organisation of an SME Business Clinic in Koforidua in the Eastern Region. The forum, which brought together about 150 SME operators, forms part of MTN Ghana’s nationwide initiative aimed at equipping businesses with practical skills, digital tools, and technological solutions to improve competitiveness, operational efficiency, and long-term sustainability. The programme focused on areas including bookkeeping, financial management, product packaging and labelling, digital visibility, customer engagement, and the use of emerging technologies to scale businesses. Speaking during the event, Head of SME Sales at MTN Ghana, Mohammed Abubakari-Sidik, said the telecommunications company recognised the critical role SMEs play in Ghana’s economic development and had therefore developed tailored interventions to support their growth. In the socio-...

  The Newmont Ahafo Development Foundation (NADeF) has disbursed GH¢845,000 to four businesses at Ntotroso in the Ahafo Region as part of efforts to stimulate entrepreneurship, support business expansion and reduce unemployment within its operational communities. The funding, provided as start-up and business expansion capital, will support enterprises operating in poultry, plumbing and general goods trading, wood processing and joinery, as well as provision store operations. Beneficiaries are expected to repay the facility within two years at an annual interest rate of five percent. Speaking at a brief ceremony to present cheques to the beneficiaries at Ntotroso, the Executive Secretary of NADeF, Elizabeth Opoku-Darko, said the intervention forms part of the foundation’s broader strategy to strengthen local enterprise development and improve livelihoods in mining communities. She noted that it was the first time the foundation was extending support to businesses in sectors such as...

 The Minister for Lands and Natural Resources, Emmanuel Armah Kofi Buah has stated that the importance of effective boundary governance in West Africa can never be overstated considering the existence of geopolitics, regional dynamics and the speed of technology. Across our region, our boundaries remain spaces of intense human interaction, trade, cultural exchange and shared livelihoods. Yet, they are also increasingly affected by challenges such as irregular migration, transhumance-related tensions, smuggling, environmental degradation, foreign influence and interference, as well as evolving security threats" These realities, the Minister noted demand, not isolated responses, but coordinated and forward-looking approaches, grounded in cooperation and mutual trust. The Minister made the statement while addressing participants at the opening of a sub-regional consultation between boundary commissions of Ghana, Burkina Faso, Ivory Coast and Mali today (Wednesday). He described the m...

 Ghana, with support from the UK government, has commissioned and handed over 10 forest protection camps and two checkpoint accommodation facilities at the Oda River Forest Reserve to strengthen the fight against illegal mining, logging and other threats to the country’s forests. In a speech read by the Director of the Wildlife Division of the Forestry Commission , Dr. Joseph Boakye, Esq, on behalf of the Minister for Lands and Natural Resources, Hon. Emmanuel Armah-Kofi Buah, stated that the facilities represent government’s broader commitment to sustainable forest management and environmental protection. He noted that Ghana’s forests remain critical national assets that support livelihoods, biodiversity and climate resilience, stressing that government is determined to protect them through stronger enforcement and improved operational capacity. The protection of our forests requires commitment, vigilance and the right infrastructure for officers on the ground", the Minister said...

  The Group Chief Executive Officer of MTN Group, Ralph Mupita, has signalled a major transition in Africa’s digital financial ecosystem, noting a gradual shift from USSD-based services to smartphone-driven, app-based financial platforms. He made the remarks during a fireside chat at the 2026 3i Africa Summit where industry leaders gathered to discuss the future of digital finance on the continent. Mupita indicated that Africa’s financial services landscape is undergoing a structural transformation, moving beyond basic mobile money transactions to more advanced, technology-enabled financial ecosystems. “We are in the middle of a transformation for digital finance. Historically, this has been driven by USSD-based services on 2G devices. But going forward, we will see a shift toward smartphone-driven, app-based digital finance experiences.” He explained that while USSD and feature phone-based services played a critical role in expanding financial inclusion across Africa, the next pha...

  The Bank of Ghana has partnered with Frontclear to organise a market training workshop aimed at strengthening Ghana’s financial market infrastructure through enhanced understanding of repo guidelines, Global Master Repurchase Agreement (GMRA), and International Swaps and Derivatives Association (ISDA) documentation. Speaking at the opening of the one-day workshop in Accra, First Deputy Governor of the Bank of Ghana, Dr. Zakari Mumuni, stressed the importance of legal certainty, operational soundness, and risk management in deepening Ghana’s financial markets. A financial market is only as strong as the legal and operational infrastructure beneath it. Volumes tell you how active a market is — documentation, risk frameworks, and legal certainty tell you how safe it is,” he stated. Dr. Mumuni noted that Ghana’s financial markets are evolving rapidly, driven by an expanding fixed-income market and increasingly sophisticated financial instruments, adding that market growth must be mat...

  By Albert Amekudzi In Ghana today, one of the easiest ways to trend on radio, television, or social media is to blame mining companies for underdevelopment in mining communities. According to the growing public narrative, mining firms are not doing enough. They are accused of taking the gold, making profits, and leaving communities poor. It is an argument that gets applause almost instantly. But while everyone is busy pointing fingers at mining companies, there is one awkward question nobody seems eager to ask: What exactly has the State done with the billions of cedis in mining royalties and taxes it has already collected? That question rarely enters the conversation. And perhaps it is because asking it would force us to confront a very uncomfortable truth: maybe the bigger issue is not simply whether mining companies are doing enough, but whether the State itself has failed in its own developmental responsibilities. Because let us be honest for a moment when a community lacks r...

  The Group Chief Executive Officer and President of MTN, Ralph Mupita, has expressed strong optimism about Africa’s role in shaping the future of global finance, stating that the continent is well positioned to lead the next phase of digital financial transformation. He made the remarks during a fireside chat with   broadcaster Bernard Avle at the 3i Africa Summit held at the Destiny Arena in Accra. Ralph said Africa’s rapid progress in mobile money and digital financial services provides a strong foundation for the continent to transition into a more advanced and integrated digital finance ecosystem. We are moving from mobile money to true digital finance. Across Africa, we have seen tremendous growth in financial inclusion, but the next phase will be defined by more sophisticated, app-based, and technology-driven financial systems,” he said. He noted that the evolution of digital finance will go beyond basic payments to include digital credit, remittances, embedded fin...

The Project Director of Zoomlion Kenya , Dr. Peter Dagadu, has announced that the company is making significant progress barely a month after commencing operations in Nairobi under the city’s integrated waste management programme. Speaking during a working visit by Kenya’s Majority Leader, Kimani Ichung’wah, to the Zoomlion head office in Nairobi on Wednesday, May 13, Dr. Dagadu stated that the company is working closely with city authorities to deliver an end-to-end waste management solution aimed at improving sanitation, environmental conditions, and public health across the city. According to Dr. Dagadu, Zoomlion’s intervention is focused on transforming Nairobi’s waste management system through a combination of emergency clean-up operations, infrastructure development, and long-term sustainability measures. He disclosed that before the company’s intervention, Nairobi had approximately 109 illegal dumpsites spread across different parts of the city, posing serious environmental and ...

Kobby Bentsi-Enchill, Head, Investment Banking, Stanbic Bank Ghana Kobby Bentsi-Enchill, Head of Investment Banking at Stanbic Bank Ghana, has advised real estate developers across Africa to complement their innovative ideas with careful project preparation, highlighting that well-structured plans are more likely to attract meaningful financing from banks. Bentsi-Enchill made the remarks at the Africa Real Estate Festival, where he joined industry leaders, investors, and developers to examine the persistent financing gaps that continue to slow the pace of property development across Africa. When a developer walks through our doors with a project, the quality of the idea matters, but it is rarely the deciding factor. What separates a fundable project from one that stalls at the assessment stage is preparation. Complete documentation, credible financial projections, clear land title, and a well-articulated exit strategy tell us that the developer has done the hard thinking. That is what ...

Kwabena Boamah, Managing Director, Stanbic Investment Management Services (SIMS), Ghana   Kwabena Boamah, Managing Director of Stanbic Investment Management Services LTD, has called for a more structured and strategic approach to pension fund investments in private equity, stressing that gaps in policy, governance, and expertise continue to limit participation in the asset class. Delivering a presentation at the 2026 Annual Conference of the Ghana Venture Capital & Private Equity Association (GVCA), Boamah addressed industry stakeholders on the theme: “Pension Fund Co-Investment Success: Internal Processes, Reviewing VC/PE Transactions, Expectations of Trustees and Fund Managers.” His remarks highlighted both the progress made and the persistent barriers preventing trustees from fully embracing private equity as a viable investment avenue. “While it is encouraging that more trustees are beginning to explore private equity and even making second commitments, the pace of adoption...

 By Emmanuel Borketey Bortey- Enterprise Banker, Business and Commercial Banking, Stanbic Bank Ghana. There is a quiet transformation underway across Ghana’s business landscape. One that does not announce itself with fanfare but reveals itself in the hum of solar panels on factory rooftops, the reduced fuel bills of a mid-sized agribusiness, and the steady output of a hotel that no longer dreads the next power outage. Ghana’s small and medium-sized enterprises, the backbone of an economy that generates over 70 percent of employment, are beginning to chart a different course. They are moving, however gradually, toward cleaner, more sustainable energy solutions. And at the heart of that movement is the growing role of green financing. For too long, the conversation around sustainability in Ghana has been dominated by large corporations and government policy frameworks, leaving SMEs to navigate an energy reality that is both costly and unreliable. Frequent power fluctuations, an overd...

Kwamina Asomaning, Chief Executive Officer, Stanbic Bank Ghana, presenting the cheque to representatives of the Yaa Naa. Stanbic Bank Ghana has donated GH¢200,000 to the Dagbon Development Fund, which is spearheading the redevelopment of the historic Gbewaa Palace in Yendi. The donation forms part of the bank’s broader commitment to strengthening ties with the Dagbon Traditional Area and supporting community-driven development initiatives within the kingdom. Presenting the cheque to the Overlord of Dagbon, Ya Naa Mahama Abukari II, the Chief Executive of Stanbic Bank Ghana, Kwamina Asomaning praised the traditional leader for the stability and growth witnessed in the area under his leadership. According to him, the peace and unity currently prevailing in Dagbon have created an enabling environment for development and investment, adding that the bank was proud to contribute to such a transformational initiative. “We are honored to support this important project because development thriv...

  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...