Kofi Ahovi

  China’s rise to become a global force in automobile manufacturing was the result of three decades of deliberate government policy, investment and technology transfer—not an overnight success, Chief Executive Officer of Zonda Tec Ghana, Yang Yang, has said. Speaking on the Citi Breakfast Show on Friday, July 31, Madam Yang said China’s automotive industry began its transformation about 30 years ago when the government introduced policies to attract leading global manufacturers while building local technical capacity. “China took the auto industry seriously 30 years ago,” she said. According to her, the Chinese government encouraged major international car manufacturers, including Toyota and Volkswagen, to establish operations in the country by offering incentives such as free land, tax holidays and access to the domestic market. The condition was they send their engineers to China to train our engineers, and we give them 15 years tax-free,” she explained. Madam Yang said China’s ...

 By Kofi Ahovi Renowned economist and Professor of Finance, Prof. Godfred Bokpin, has issued a stark warning that Ghana is "becoming a failed state" as persistent infrastructure failures, particularly prolonged electricity outages, continue to erode investor confidence and threaten the country's ability to capitalize on opportunities under the African Continental Free Trade Area (AfCFTA). His comments come at a time when parts of the national capital have been without electricity since dawn on July 29, raising fresh concerns over the reliability of Ghana's power supply and its implications for businesses and economic activity. "Can you imagine the lights going out in London for just a second?" he asked. Speaking on the topic, "The Future of Intra-African Trade: Opportunities, Challenges and the Role of Ghanaian Businesses under AfCFTA," at the Prudential Bank Business Forum in Accra, Prof. Bokpin said no country aspiring to become a regional trade ...

  By Abdul Rafui Senyo The proposal by governance and international relations expert Dr. David Agbee that the Government of Ghana should assume majority ownership of the Tarkwa Gold Mine after Gold Fields' lease expires in 2027 has understandably generated considerable public interest. At first glance, it sounds bold, patriotic and refreshingly decisive. After all, who would not want Ghana to derive more value from its gold? But as attractive as the proposal may appear, especially to those frustrated by the slow pace of development in mining communities, a state takeover is unlikely to deliver the outcomes many expect. In fact, it risks distracting us from the real issues that have undermined development in mining communities for decades. The frustrations are understandable. Many communities around Tarkwa still grapple with poor roads, environmental challenges, inadequate social infrastructure and youth unemployment despite decades of gold production. They deserve better. The quest...

 Newmont’s Ahafo South mine has successfully commissioned and received Cat® 6040 Next Generation (NG) Hydraulic Mining Shovel from Mantrac Ghana, becoming the first operation within Newmont and one of only three mine sites globally to deploy this advanced loading technology. The introduction of the Cat 6040 NG represents a significant investment in operational reliability, productivity, and safety. Designed to strengthen primary loading operations, the equipment features a larger bucket capacity, enhanced breakout force, a robust undercarriage engineered for extended service life, and upgraded twin Cat® C32B engines that provide increased power output and improved fuel efficiency. The Cat 6040 NG is fully aligned with Newmont’s Heavy Mobile Equipment Safety Systems Standard and incorporates advanced safety features, including dual fire suppression systems, enhanced operator visibility, emergency egress systems, camera monitoring technology, protected access platforms, and multiple ...

  Prudential Bank has launched the Pan-African Payment and Settlement System (PAPSS) on its mobile banking application, enabling customers to send and receive money across participating African countries directly from their mobile phones in real time. The digital solution, unveiled at the Prudential Bank Business Forum, was officially launched by Professor Godfred Bokpin, together with the Acting Managing Director of Prudential Bank and other dignitaries. The integration makes Prudential Bank one of the first banks in Ghana to offer PAPSS transactions through a mobile banking platform, further advancing seamless cross-border payments under the African Continental Free Trade Area (AfCFTA). Speaking during a demonstration of the service, Head of Digital Transformation at Prudential Bank, Terrance Addy, explained that customers can now initiate transfers from their cedi accounts without the need for foreign currency. You don't need a foreign currency account to make a transfer. You ca...

 Economist and Professor of Finance, Prof. Godfred Bokpin, has called on African governments to address the continent's weak transport, logistics and payment infrastructure, warning that high transaction costs continue to undermine intra-African trade despite the launch of the African Continental Free Trade Area (AfCFTA). Speaking at the Prudential Bank Business Forum on Wednesday on the topic, 'The Future of Intra-African Trade: Opportunities, Challenges and the Role of Ghanaian Businesses under AfCFTA',  Prof. Bokpin said Africa's trade architecture remains largely designed to serve external markets rather than facilitate commerce within the continent. According to him, decades after independence, African countries still face structural barriers that make it easier to trade with Europe and Asia than with neighboring countries. He noted that in many cases, goods destined for another African country must first pass through Europe before reaching their final destination,...

  Renowned Audit Firm, Price Waterhouse Coopers (PwC), has noted that Ghana’s improving inflation outlook should lead to lower borrowing costs for businesses and households if the country’s economic recovery is to translate into stronger private sector investment. Presently, Ghana’s headline inflation stands at 5.3% , while the Bank of Ghana’s policy rate stands at 14.0% , but businesses continue to face average commercial lending rates of 17.64% , highlighting the gap between improving macroeconomic conditions and the cost of credit. In its review of the 2026 Mid-Year Budget, PwC said the recent decline in inflation and easing monetary policy had created an opportunity to improve access to credit, but cautioned that the benefits of macroeconomic stability would remain limited if lending rates stayed elevated. The firm said while Ghana had made significant progress in restoring macroeconomic stability, businesses would ultimately judge the recovery by whether financing becomes more...

  Telecel Ghana has raised the bar for customer rewards with the launch of its 2026 national consumer campaign, the Telecel M’ahitti Promo , which will see three customers become millionaires over the next four months. In a departure from its previous consumer promos, which crowned a single grand prize winner, this year’s campaign will award GH¢1 million to three lucky customers, which translates into announcing a new millionaire for three distinct months during the 4-month promo. Organised in partnership with digital company Kunim Global, the promotion will reward 12,000 daily draw winners with GH¢100 each, up to 48 weekly draw winners with GH¢20,000 each, and three grand prize draw winners with GH¢1 million each, making it one of the largest consumer reward campaigns in Ghana’s telecom sector. Aneth Muga, the Director of Consumer   Business , said this year’s promo is intended to encourage greater use of its digital ecosystem and ensure broader national participation. O...

  Nearly two million young Ghanaians are neither in education, employment nor training (NEET), raising concerns about the country's ability to harness its growing youth population for economic growth, according to the Ghana Statistical Service (GSS). The GSS disclosed that approximately two million people aged 15 to 35—representing 19.5% of Ghana's youth population—were classified as NEET as of the third quarter of 2025. The figures were released to mark World Population Day under the theme, "Investing in Ghana's Future through Healthy, Skilled and Empowered Young People." According to the Service, the findings highlight the urgent need for greater investment in education, skills development and employment opportunities to enable young people to contribute meaningfully to national development. The report also raised concerns about adolescent pregnancy, citing the 2022 Ghana Demographic and Health Survey, which found that 15% of girls aged 15 to 19 had ever been pr...

  Johnson & Johnson has set aside $5.5 billion to resolve tens of thousands of US lawsuits alleging that its talcum powder-based products caused ovarian cancer. The pharmaceutical giant has offered to pay plaintiffs up to $3 billion in 2027, with any remaining payouts made after 2028. It said in a statement on Monday that it hoped the settlements would bring closure to “meritless 15-year litigation.” The settlement relates to about 76,000 claims against the company. The proposal needs to be accepted by law firms representing at least 95% of the claimants to go ahead, J&J said in its statement. J&J has been dogged for years by accusations that talcum powder in its products, including baby powder, contained cancer-causing asbestos. The New Jersey-based firm has repeatedly denied that its products caused cancer. Some scientific studies have shown that women do have an increased risk of ovarian cancer with talc use in the genital area, but others do not. In 2020, the compa...

  The Food and Drugs Authority (FDA) has confiscated fish that was being processed under unhygienic conditions following a viral video showing individuals handling smoked and salted fish in an unsafe environment. In a statement issued on Tuesday, July 28, 2026, the FDA said it was alerted to the video showing poor fish-processing practices and immediately deployed a rapid-response team to the location on Monday, July 27. The team, which included officials from the FDA, the Tema Metropolitan Assembly and the Ghana Police Service, assessed the situation and took steps to protect public health and safety. Ghana travel guide As part of the intervention, the FDA said the fish exposed to unhygienic conditions were confiscated. The fish processors were also educated on the health risks associated with poor handling and processing practices. “On sighting the recent viral video, a rapid response team from the FDA was dispatched to the scene on Monday, 27th July, in collaboration with the Te...

By Faustina Dagadu   Ghana has highlighted major strides in promoting gender equality and women's empowerment while regional leaders and development partners called for stronger institutions, greater collaboration and sustained investment to advance gender-responsive policies across West Africa. The call was made at the opening of the 2026 ECOWAS Gender Development Centre (EGDC) Annual Briefing and Information Sharing Session with Gender Focal Points, a four-day meeting in Accra that has brought together government officials, gender experts, civil society organisations, development partners and policymakers from ECOWAS member states. Held under the theme "Strengthening the Institutional and Organisational Capacities of Regional and National Gender Mechanisms," the workshop is reviewing the Centre's achievements from 2022 to 2026 while outlining strategic priorities for the 2026–2030 period. Opening the meeting on behalf of the Minister for Gender, Children and Social ...

  Owureku Asare, Head of the Fintech and Innovation Department at the Bank of Ghana (BoG), has raised concerns over the increasing cases of fraud within Ghana’s digital financial services sector, citing a 48% rise in reported incidents in 2025. The development he said highlights the growing risks associated with the rapid expansion of digital financial services and the need for stronger measures to protect consumers and maintain confidence in the financial system. Speaking on behalf of the Governor of the Bank of Ghana on Tuesday, July 28, he said while digital finance continues to create opportunities for financial inclusion, safeguarding public trust remains a key priority for the central   bank . According to him, confidence in Ghana’s digital financial ecosystem is built on the assurance that customers’ funds are protected and can be accessed when needed, with the BoG playing a critical role through regulation and supervision. However, he noted that the growth of digi...

  The Chief Regulatory, Risk and Compliance Officer of MobileMoney Fintech LTD (MMFL), Godwin Kwami Tamakloe, has assured mobile money users that the physical cash  backing their electronic money  are held in regulated trust accounts with partner banks, and not by Dedicated Electronic Issuers or the Fintech companies themselves. Speaking on JoyNews’ Digital Economy Forum, Tamakloe said many customers do not fully understand how the mobile money ecosystem is structured, which has contributed to misconceptions about the safety of wallet balances. The forum, held under the theme “The Trust Crisis: Why Fraud is Holding Back Ghana’s Digital Economy,” brought together regulators, banks, fintech companies, and cybersecurity experts to examine how collaboration can strengthen trust in Ghana’s digital financial services sector. Tamakloe explained that while customers transact through mobile money platforms, the electronic value in their wallets is fully backed by funds deposited w...

  The future of Ghana's digital economy will increasingly be shaped by what happens in the home, with reliable, high-speed internet becoming as essential as electricity and water, according to MTN Ghana's Chief Home Officer, Richard Acheampong. Speaking during MTN Bright Conversations at MTN House, Accra, Mr Acheampong said the home has evolved into the centre of work, learning, entertainment and entrepreneurship, making dependable home connectivity critical to the country's digital transformation. "The home is now the centre of many things. It is where people work, learn, run businesses and access entertainment. As a technology company, we have a responsibility to provide the digital infrastructure that enables people to live and thrive in the digital economy," he said. He explained that while mobile internet has transformed communication over the years, changing consumer behaviour has created a growing need for dedicated home broadband services capable of suppor...

 Africa's long-term prosperity will depend less on how the continent responds to issues of migration and more on how it expands economic opportunity, strengthens regional integration and enables more people to participate meaningfully. That was the key message from MTN Group President and CEO Ralph Mupita during the Kgalema Motlanthe Foundation (KMF) Winter Seminar, where leaders from government, business, the diplomatic corps, academia and civil society gathered to examine the relationship between migration, development and Africa's future. The future of Africa will not be determined by the borders that separate us, but by the economic opportunities that connect us. Governments must set predictable policy and regulations. Businesses will follow and allocate resources and capital. Together, we can build a continent where opportunity is more evenly shared and prosperity is more widely created," he said. As a sponsor of this year's KMF seminar, MTN Group believes platfor...

 The Caspian Sea has become the latest region to be sucked into the growing conflict between Iran and its adversaries – not least because it’s a vital artery in the growing relationship between Iran and Russia. Ukraine at the weekend said its drones had struck two Russian vessels carrying military cargoes in the Caspian, the world’s largest inland body of water. It asserted that both had left Iran for a Russian port. In a post on X Saturday, Ukrainian President Volodymyr Zelensky said the targets included “ships that were involved in transporting military cargo from Iran, as well as a warship,” subsequently identified by Ukraine’s security service as a Russian missile boat. Iran countered that one of its commercial vessels carrying a cargo of iron had been struck, killing one seafarer and injuring three others. The ship, which it did not name, was sailing from the Russian port of Astrakhan to Anzali in Iran, which Iranian regional governor Hadi Hagh-Shenas described as “a safe and...

  The International Monetary Fund (IMF) Executive Board has approved the sixth and final review of Ghana’s US$3 billion Extended Credit Facility (ECF) programme. The approval unlocks a final disbursement of approximately US$371 million and bringing the country’s three-year bailout programme to a successful conclusion. It also marks the end of the IMF-supported programme launched in May 2023 to restore macroeconomic stability following Ghana’s 2022 economic crisis. With the bailout programme completed, Ghana is now transitioning to a new 36-month Policy Coordination Instrument (PCI). This is a non-financing arrangement designed to help sustain reforms, reinforce policy credibility and support investor confidence. However, the IMF has made clear that the end of the bailout does not signal the end of reforms. Instead, it outlines a roadmap of policy priorities aimed at consolidating Ghana’s economic recovery, safeguarding debt sustainability and strengthening long-term economic resili...

  The International Monetary Fund (IMF) Executive Board has approved the final review of Ghana’s $3 billion Extended Credit Facility (ECF) programme, paving the way for a final disbursement of about $371 million to the country, the Ministry of Finance said on Monday. Ghana tourism promotion The approval brings to a successful conclusion the three-year IMF-supported programme, which began in May 2023 following Ghana’s 2022 economic crisis. The Executive Board of the International Monetary Fund (IMF) has approved the final review of Ghana’s US$3 billion Extended Credit Facility (ECF) programme, bringing the bailout programme, which began in May 2023 following the 2022 economic crisis, to a successful conclusion,” the ministry said in a statement. According to the ministry, the approval also unlocks a final disbursement of approximately $371 million to support Ghana’s balance of payments, bringing total disbursements under the programme to about $3 billion. The government said the suc...