The Ministry of Trade, Agribusiness, and Industry (MoATI) has initiated discussions with six other ministries to procure uniforms and apparel from local manufacturers and designers.

The move is expected to leverage state purchasing power and stimulate the textile and garment sector, according to Chief Director-MoATI Noah Tumfo, will see ministries including Education, Defence, Interior, Health, Lands and Natural Resources procure uniforms locally.

“This initiative is expected to create reliable market access for local manufacturers while strengthening domestic value chains,” Tumfo noted.

The overarching goal, he added, is to promote local procurement of uniforms and other apparel used by state institutions – a move that aligns with government’s Made-in Ghana programme.

Tumfo, who spoke at a policy dialogue on the textiles and garment industry organised by Development Bank Ghana (DBG) and Association of Ghana Industries (AGI), also announced that government is prioritising the development of a policy for the garment and textile.

The policy seeks to establish textiles and garment parks – aimed at accelerating growth of the domestic industry. This policy forms part of the Mahama-led administration’s ambitious Big Push industrial transformation agenda.

The parks, which will feature plug-and-play factory shells, are expected to significantly reduce the lead-time associated with setting up garment factories while addressing logistical challenges in securing suitable industrial sites.

Government also highlighted broader market opportunities along the textile value chain, which are bolstered by existing bilateral, regional and continental trade agreements.

Creating an enabling environment for investment in the sector is critical to unlocking its full potential, say industry players.

“The textile and garment industry’s revitalisation is not just an economic goal – it is a national mission. With the right policy framework, this sector can become a major source of employment, innovation and cultural pride,” Chief Director Tumfo told the gathering.

Policy dialogue

The event is part of an ongoing partnership signed between DBG and AGI in 2024.

As part of the memorandum of understanding (MoU) between the two, Development Bank Ghana is investing at least GH¢100million annually in the domestic textiles and garments industry over the next three years.

The funding is being channeled through partner financial institutions (PFIs) and development partners (DPs) via long-term financing.

DBG pledged to commit an initial GH¢566,200 for AGI to execute various activities under the programme. These include identifying at least three investable projects within the textile and apparel value chain, providing technical assistance, facilitating market development, organising capacity-building sessions and conducting regular monitoring and evaluation to assess the programme’s impact.

Under the MoU, DBG and AGI are implementing a three-year initiative to provide technical support, financial resources and market development assistance to selected textile, garment and fintech companies.

The programme aims to address critical challenges such as high production costs, limited skilled labour and restricted access to long-term financing.

Speaking at the event, themed Revamping Ghana’s textiles and garment industry -The challenges, pitfalls and opportunities, Chief Executive Officer-Development Bank Ghana, Dr Randolph Nsor-Ambala, noted that the domestic textile industry’s resurgence is being viewed as both a symbol of renewed industrial ambition and a strategic move to enhance international collaboration.

“Textiles represent a large entrepreneurial opportunity. For many, it’s more than a livelihood – it’s a pathway to dignity and economic empowerment. This is why our focus, as developers and financiers, has been on unleashing the textile industry’s full potential to deliver its associated benefits,” Nsor-Mbala noted.

Commenting on the event, he added that: “We need frank discussions on how to address institutional bottlenecks, supply-side challenges and the persistent dumping of foreign wax-prints on our market”.

Key among the priorities he highlighted were appropriate sourcing of raw materials, access to affordable and targetted financing and implementing practical, result-oriented strategies to support growth in the sector.

“There is an urgent need for pragmatic, implementable actions that bring together the financial sector, entrepreneurs and policymakers to drive the industry forward. The opportunities for employment are enormous – as are the prospects for restoring national pride and identity,” the DBG boss concluded.

AGI

Chief Executive Officer of the Association of Ghana Industries, Seth Twum-Akwaboah, reacting to the policy announcements, said that if properly implemented, the two policies have the potential to significantly transform the sector.

“If the government commits to buying locally, that creates a huge market which can spur expansion and job creation,” he stated.

Trent Alexander-Arnold will become a Real Madrid player on Sunday, 1 June after Liverpool accepted a 10m euros (£8.4m) fee to release the defender early from his contract.

According to sources, Real have made the single, up-front payment to allow the England right-back to join the Spanish side in time to play in the Club World Cup.

Alexander-Arnold, who had already confirmed he would leave Liverpool this summer, has agreed a six-year deal.

The 26-year-old would have been able to leave Liverpool on a free transfer when his contract expired on 30 June.

Fifa approved an additional window for this summer, from 1-10 June, allowing teams to register new players for the expanded month-long Club World Cup, which starts on 14 June and is being held in the United States.

Real’s opening group game is against Saudi side Al-Hilal on 18 June in Miami.

Alexander-Arnold has been with Liverpool since joining his hometown club at the age of six.

He has won two Premier League titles, the Champions League, Fifa Club World Cup, Uefa Super Cup, FA Cup and League Cup with the Reds.

But earlier this month he said he had decided to leave to experience a “new challenge” and to push himself “personally and professionally”.

Alexander-Arnold leaves Liverpool having claimed 23 goals and 92 assists in 354 appearances for the club.

He will join England team-mate Jude Bellingham in Madrid, plus former Liverpool and Real midfielder Xabi Alonso.

Alonso, 43, has succeeded Carlo Ancelotti as Real boss after the club failed to win a major domestic or European trophy for the first time since 2020-21.

DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.

DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.

Accra, May 30, GNA- Ghana has signed a Memorandum of Understanding with the United Arab Emirates, led by the Ports, Customs and Free Zone Corporation (PCFC), to build a $1 billion innovation hub in Accra.

The investment will be fully funded by PCFC, while Ghana will provide the land to be located in Ningo Prampram in the Greater Accra region.

The 25-kilometre square facility is expected to begin in 2026 and be completed before the end of 2027.

Mr Sam George, the Minister of Communication, Digital Technology and Innovation Communications, signed on behalf of Ghana, while Mr Sultan Ahmed Bin Sulayem, Group Chairman, PCFC, signed for the UAE.

Mr George said the partnership between Ghana, PCFC and the G42, leading AI firms in the world, would revolutionise technology in the country.

The partnership, he stated, was part of President Mahama’s vision of transforming Ghana into the next AI hub for Africa by launching the one million coders programme.

“As you train a million coders, you need to have jobs for these coders, and that is where PCFC comes in.

“Having the innovation hub built in Ghana PCFC will come along with the over 11,000 companies that are under their umbrella in the UAE to have a Ghanaian presence,” he said.

PCFC has led in the transformation of Dubai’s AI ecosystem and currently holds over 11 innovation hubs in Dubai and operates with all the big 10 top tech companies in the world, like Microsoft, Oracle, IBM, and others.

He said PCFC was part of the Dubai Ports that are logistics companies, serving over 11,000 clients, including Africa, but without a hub on the continent.

“Ghana, being the gateway to Africa, reached out to the company to establish the hub.

“The facility will attract all the big top tech companies in Ghana. So our Business Process Outsourcing, Knowledge Process Outsourcing, AI Engineering, and all the new emerging technology fields will be positioned here in Africa,” he said.

He said the company would not set up the hub in Ghana and bring in the human capital or human skill sets from outside of the country but would rather employ Ghanaians through the coders programme.

The Minister said the agreement was both bold in ambition and also grounded in mutual respect and built on a shared understanding that digital transformation was no longer optional but essential.

This initiative, he stressed, was designed to anchor Ghana’s place as a continental leader in digital transformation and technological advancement.

Mr Bin Sulayem underscored the importance of technology in empowering future development.

He said the wealth of a country relied on its new ideas or innovation to advance the needed growth for sustainable development.

He expressed the company’s resolve and commitment to partner with Ghana to enhance technology in the emerging economy and provide jobs for the citizens.

GNA

Christian Akorlie

Dr Cassiel Ato Forson, Minister of Finance

Government is reaffirming its commitment to fair treatment for all external creditors as it nears the final stage of its debt restructuring process, which is aimed at restoring financial stability and investor confidence after the crushing defaults of 2022.

In a statement on Wednesday, the Ministry of Finance said it continues to make “good progress” in negotiations with remaining creditors within the debt restructuring perimeter.

Government stressed that it has not extended preferential terms to any creditor group, aligning with the G20 Common Framework’s principle of Comparability of Treatment – a key condition for continued multilateral support.

“We have strictly applied provisions in the Memorandum of Understanding with our official creditors – and in particular have continued to remain in arrears with all external creditors included in the debt restructuring perimeter. No creditor has been treated preferentially,” a portion of the statement read.

The restructuring process, now 97 percent complete, follows the historic default on external debt triggered by rising borrowing costs, a depreciating currency and a collapse in revenue during the COVID-19 pandemic and Russia-Ukraine conflict fallout as well as a subsequent downgrading of the nation’s debt, which triggered capital flight.

Government initiated a debt exchange programme covering over US$20billion in external liabilities to regain debt sustainability and unlock funding under a US$3billion Extended Credit Facility (ECF) from the International Monetary Fund (IMF).

Key to the process was a US$13billion Eurobond exchange concluded in under nine months. The deal secured 98 percent consent from bondholders – surpassing the 65 percent threshold required – and resulted in a 37 percent nominal haircut.

It also reduced the average coupon rate from over 8 percent to below 5 percent, substantially easing the interest burden and curing defaults on international bonds.

Officials say the deal has helped normalise the country’s standing with rating agencies and global capital markets. The successful outcome was widely seen as a key moment in the country’s economic reset and a potential model for other heavily indebted developing economies.

While most of the restructuring is now finalised, about 3 percent -primarily commercial loans – remains under negotiation, as reiterated by President John Dramani Mahama during a Presidential panel discussion at the 60th Annual Meeting of the Africa Development Bank (AfDB) in Abidjan, Cotê d’Ivoire.

Speaking of the process, he said: “It brought the quantum of our debt, that is the size, down; but it also stretched the repayment period, which brought us to about a 76 percent debt-to-GDP ratio. Since then, we are left with three percent of the debt as we covered 97 percent. It is left with some commercial creditors who hold about three percent of the debt; and once we do that, the entire process will be complete”.

He suggested that government is working to close the gap, with ongoing discussions centred on instruments that are more complex and less uniform than Eurobonds or bilateral loans.

The Finance Ministry said it remains “committed to achieving a fair and mutually beneficial resolution with all creditors” and expressed appreciation for the “forbearance, cooperation and support” of its international partners.

Ghana’s fiscal outlook has improved markedly, helped by better-than-expected revenue performance, a stronger cedi and tighter spending controls.

Government is targetting a debt-to-GDP ratio of between 55 percent and 58 percent by 2028, a goal officials believe is within reach well ahead of the IMF schedule.

If current trends hold, the nation is expected to reach a moderate risk of debt distress status by 2028 – a notable improvement from the high-risk classification it held during the peak of its crisis.

Still, analysts caution that the final stretch of creditor negotiations could pose challenges; particularly as legacy debts, especially in the electricity sub-sector, continue to weigh heavily on government’s intended expenditure. Any slippage in fiscal consolidation or delays in finalising the remaining restructuring agreements could weigh on investor sentiment.

The UN has lauded Ghana’s contribution to maintenance of peace and stability across the world through peacekeeping missions.

Ghana is ranked seventh among troop-contributing countries in the world.

The acting UN Resident Coordinator, Osama Makkawi Khogali, said “Ghana has long been a steadfast pillar of UN peacekeeping efforts with a distinguished legacy dating back to the early 1960s”.

“Today, we proudly recognise Ghana’s remarkable contributions, as the nation ranks seventh among 122 troop-contributing countries—a testament to its enduring commitment to global peace and security,” he added.

Mr Khogali said that the contribution of Ghanaian peacekeepers transcended duty; it depicted a profound calling to uphold the values of humanity, solidarity and hope in the world’s most challenging environments. 

Ceremony

Mr Khogali was speaking at a flag-raising ceremony to commemorate the 77th International Day of UN Peacekeepers in Accra yesterday, on the theme: “The future of peacekeeping: Strengthening partnership and multilateralism in Ghana and beyond”.

It was organised by the Ministry of Foreign Affairs (MFA) in collaboration with the Ghana Armed Forces (GAF).

The ceremony aimed at paying tribute to security and civilian peacekeepers who lost their lives in the process, while complimenting those who had served, and continued to serve in UN peacekeeping missions.  

In attedance were members of the diplomatic corps and high-ranking officials of MFA and GAF, as well as the Minister of State in-Charge of Government Communication, Felix Ofosu Kwakye, who was the guest speaker.  

Tribute

Mr Khogali paid tribute to the 57 peacekeepers who lost their lives last year, including two Ghanaian soldiers – Sergeant Evans Kyere and Warrant Officer II David Kwame Amankwah.

He added that the two “fallen heroes” would later this year be conferred with the “Dag Hammarskjold Medals” in a ceremony in New York.

Mr Khogali further congratulated Squadron Leader Sharon Syme, a Ghanaian soldier, for receiving the 2024 Military Gender Advocate of the Year Award.

He emphasised the importance of partnerships and multilateralism in peacekeeping, including the need for unity, collaboration and intentional action to address evolving security threats.

Mr Khogali said there was the need for investment in training and capacity building to equip peacekeepers with modern tools and increase funding for crisis management, among others.

Commitment

For his part, Mr Kwakye said the country would continue to advocate a more robust and inclusive multilateral system because multilateralism, though imperfect, was still the best tool to sustain peacekeeping efforts in an increasingly fractured world.

He urged world leaders to recommit to collective action to fully resource missions, equip them with robust mandates, and stand united with the brave women and men who risked their lives to protect civilians.

The minister said there was the need to ensure that peacekeeping operations thrived even in the most challenging environment.

“Our contribution to global peace has been tremendous.

Our brave men and women peacekeepers have, through their dedication in Liberia, South Sudan and beyond, demonstrated to the world that lasting stability is achievable under even the most difficult circumstances,” he said. 

Mr Kwakye also said that commemoration of the peacekeepers’ day must serve as a reminder that it was only through a shared vision of human dignity that “we can uphold the worth of every individual and build a more secure world”. 

By Morkporkpor Anku

Accra, May 30, GNA – Dr Justice Srem-Sai, the Deputy Attorney-General, says Bernard Antwi Boasiako, also known as Chairman Wontumi, is under investigation for criminal offences, including fraud, causing financial loss to the State, and money laundering.

He said the criminal investigation was running concurrently with asset recovery processes to prevent further dissipation of what the law enforcement agencies strongly suspected to be proceeds of crime.

The Deputy-Attorney General said the suspect was also under a second strand of investigation, which was part of a larger international organised crime scheme.

“The Economic and Organised Crime Office (EOCO) is assiduously working with international law enforcement partners on this second strand of criminal investigations,” Mr Srem-Sai said on his Facebook page on Thursday.

Mr Antwi Boasiako, the Ashanti Regional Chairman of the New Patriotic Party, was arrested on Tuesday, May 27, following a summons by the Criminal Investigations Department (CID) of the Ghana Police Service.

He remains in the custody of the EOCO as his legal team continues with efforts to meet his GH₵50 million bail condition.

GNA

Agnes Boye-Doe

The Africa Development Council (ADC) has called for a full-scale investigation into the financial activities and asset management practices of the Ministry of Foreign Affairs and Regional Integration under the previous government, describing the level of mismanagement as alarming and detrimental to the national interest.

The Council, in a statement, signed by its Honoray Head of Protocols,  Timothy Gobah, expressed grave concern over what it described as “reckless abandonment of State machinery on the altar of self-aggrandisement” by former officials.

According to the ADC, several government-owned residences, both within the country and in foreign missions, were neglected during the tenure of the past administration, with preference given to private hotels, paid for with state funds.

“Residencies of Regional Coordinating Councils were left to rot, while personal hotels were used instead, with the State footing the bills,” the statement read.

“In the Russia Federation, for example, a Foreign Mission residence was left unattended while a hotel was rented for the ambassador throughout his tenure,” it added.

The Council also revealed that parcels of land granted to Ghana by other governments for embassy construction—such as one in the Russian Federation—remained undeveloped, despite being part of reciprocal diplomatic arrangements.

Revelations

In light of the revelations, the ADC called on the Operation-Recover-All-Loot (ORAL) team,  the anti corruption initiative of President John Mahama, to thoroughly investigate all foreign missions and recover any misused public funds.

It further recommended that the current government urgently reshuffle or recall all diplomatic staff posted abroad, suggesting that many may have been complicit or negligent.

The Council concluded by calling on national leadership to adopt long-term, visionary planning in foreign affairs management, rather than the ad hoc decisions it claimed had plagued the sector.

“It is time the leadership of the country began to think beyond the current generation, in order to  do away with adhoc style of leadership,” the Council stated.

The Daily Graphic reported last Monday that the Ministry of Foreign Affairs had recalled all staff of Ghana’s mission in Washington DC, with immediate effect, over alleged fraudulent activities uncovered in that embassy.

Some officers of Ghana’s Embassy in the US were found to have allegedly created a parallel bank account to the state accounts in which they collected visa and other service fees due the embassy.

The Minister of Foreign Affairs, Samuel Okudzeto Ablakwa, who disclosed this to the Daily Graphic last Sunday, said a new team of staff of the ministry would be dispatched.

The Deputy Minister of Lands and Natural Re­sources, Alhaji Sulemana Yusif, has tasked the new Bono Regional Lands Commission board to conduct their activities with the utmost integrity and transparency.

The board, he emphasised, played a critical role in shaping land policy at the regional level and ensuring alignment with national development.

The newly reconstituted board members took the oath of office administered by Ms Joyce Boahen, a supervising High Court Judge.

They include representatives from Municipal and District Assemblies in the Bono Region, Ghana Institute of Surveyors, Bono Regional House Chiefs, Lands Use and Spatial Planning Authority and Ghana Associa­tion of Farmers and Fishermen and some legal practitioners.

Speaking at a short ceremo­ny to inaugurate the board at the Bono Regional Coordinating Council in Sunyani, the Deputy Minister noted that under the Lands Commission Act, 2008 (Act 767) the Commission was mandated to advise government institutions, District Assemblies and traditional authorities on land use and monitor land develop­ment in accordance with planning and regulation.

Alhaji Sulemana Yusif also urged the board to uphold transparency, professionalism and accessibility in the management of Land issues in the region.

He further noted that “You are not here to serve your own interest. You are here to serve the people of the Bono Region to safeguard their rights and to ensure that land administration becomes efficient, fair and acces­sible to all.”

The Deputy Minister also charged the board to implement measures that would reduce land registration time to curb unau­thorised sale, conversion of stool and family Lands.

The Chairman of the new board, Ali Ibrahim Agyei, expressed his commitment to leading a united team to address the region’s land challenges head-on.

He assured that the board would work in partnership with traditional Authorities, assem­blies and civil society to build a land administration system that is inclusive and trusted by the public.

FROM DANIEL DZIRASAH, SUNYANI

The Ministry of Communication, Digital Technology, and Innovations (MoCDTI) has signed a Memorandum of Understanding (MoU) today (29-05-25) with the Dubai Ports, Customs and Free Zone Corporation (PCFC) and Presight AI to establish the Ghana-UAE Innovation and Technology Hub.

The hub aims to position Ghana as a continental leader in digital transformation and technological advancement, creating a platform for investment, innovation and job creation.

The partnership is expected to drive economic growth, build export capacity in advanced technologies, and strengthen diplomatic ties between Ghana and the United Arab Emirates.

Speaking at the signing ceremony, Hon. Minister for Communication, Digital Technology, and Innovations, Sam George emphasised the importance of digital transformation in Ghana’s development agenda.

“This initiative reflects the vision of our President to diversify our economy and ensure innovation becomes a primary engine of inclusive, sustainable development,” he said.

The Ghana-UAE Innovation and Technology Hub is expected to create thousands of high-value, technology-driven jobs for Ghana’s young population and build export capacity in advanced technologies and value-added services.

This partnership marks a significant milestone in Ghana’s digital transformation journey, and stakeholders are optimistic about the potential benefits for the country’s economy and technological advancement.

H. E. Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World and the Chairman of PCFC in a short remark emphasised that true wealth lies in innovative ideas, adding, “this project we are launching is about empowering people to dream, create and bring ideas to Life”.

Eni Ghana, in collaboration with Vitol Upstream Ghana Ltd and the Ghana National Petroleum Corporation (GNPC), has commenced drilling activities on the Sankofa East 1X Side Track 2 well in the Offshore Cape Three Points (OCTP) block, marking a new chapter in the growth of Ghana’s upstream oil and gas sector.

The operation, launched using the Deep Value Driller—a high-specification drillship with advanced automation technology—signals the partners’ renewed commitment to securing Ghana’s long-term energy future. 

The rig, among the most advanced globally in terms of safety and performance, began operations offshore Ghana following its recent engagement in Côte d’Ivoire.

“This activity reflects the partners’ ongoing commitment to unlocking additional value from the Offshore Cape Three Points (OCTP) block, ensuring long-term production sustainability and contributing to Ghana’s energy security,” Eni Ghana said in a statement issued to the press.

Ahead of the drilling campaign, Eni and its OCTP partners undertook a broad stakeholder engagement programme involving over 800 individuals along the coastal belt. Fishermen, local leaders, and community members were consulted in a series of sensitisation efforts conducted in partnership with several national institutions, including the Environmental Protection Agency, the Petroleum Commission, the Ghana Maritime Authority, the Ghana Navy, the Fisheries Commission, and the Ghana National Canoe Fishermen Council.

The outreach, according to Eni, aimed to foster transparency, cooperation, and awareness around the drilling operations, with emphasis on safeguarding local livelihoods and marine safety.

Eni, which has been operating in Ghana since 2009, currently produces approximately 34,000 barrels of oil equivalent per day. It holds a 44.4 per cent stake in the OCTP project, with Vitol owning 35.6 per cent and GNPC holding 20 per cent. 

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Nanisto News Blog of Friday, 30 May 2025

Source: Manteaw Amos