By Simon Asare

Accra, March 30, GNA – Nigerian boxer, Gabriel Oluwasegun Olanrewaju, has died during a bout against Ghanaian boxer John Mbanugu at the Bukom Boxing Arena in Accra.

The boxer was unable to be resuscitated by medics after collapsing during the bout, and GNA Sports has learnt that his body was later deposited at the Korle Bu mortuary.

The unfortunate incident happened during an undercard bout at the Ghana Professional Boxing League (Season 3) Fight Night 15 on Saturday, March 29, 2025.

During the bout, John Mbanugu threw a combination of punches at the deceased boxer, who landed on the ropes and subsequently on the canvas in the third round.

After falling on the ropes, the referee counted for a knockdown initially but realised the situation was more dire and called for medical assistance.

This devastating news has sent shockwaves through the global boxing community, with fans mourning the loss of Olanrewaju, who had 24 professional fights, 13 victories, eight losses, and three draws. 

The Ghana Boxing Association is expected to release an official statement on the unfortunate incident involving the Nigerian boxer.

More to follow…

GNA

KOA

Opanyin Wadie is a man believed to be among the richest Kwahu men in Ghana

This article was first published on Saturday, January 21, 2023

In Ghana, the Kwahu people are distinctly described as industrious, hardworking, and business-smart, and at the same time, they are unapologetically teased as “misers.”

They are also known for putting up grandiose mansions with distinctive architecture on sprawling acres of lush, green lands.

Just like Osei Kwame Despite, Ernest Ofori Sarpong, Sammy Kuffour, Sam Jonah, Ibrahim Mahama, and Dr. Gifty Akushika Lamptey, who have become household names, there are some big Kwahu men like Opanyin Kwame Wadie doing extremely well, but who have not enjoyed much of the spotlight.

Speaking in a recent interview with Odame Agyare, aka Kwahu Ambassador, and monitored by GhanaWeb, Opanyin Wadie disclosed how he started off as a businessman.

Sitting in his densely gold-themed living room, Opanyin said that he quit Benkum Senior High School to pursue business.

His decision to quit paid off because at the time, he became the second-highest dealer in the sale of fabrics in Koforidua.

“My parents are from Kwahu Nkwatia, I am the second of my siblings. I was born and bred in Kwahu Nkwatia. After Junior High School, I gained admission to Benkum Senior High School, but I couldn’t complete it due to some reasons. I then told my father that I wanted to do business. I was in the business of selling materials that I purchased from Spintex, a factory near Rana Motors. At that time, I was the second highest dealer in the sale of fabrics in Koforidua,” he said in the interview monitored by GhanaWeb.

After some time, due to his love for squash sports, in 1984, the then regional minister under the PNDC era introduced him to construction business.

“I ventured into the sale of rice, sugar, alcohol, and cigarettes. At the time, there were a lot of returns in the sale of cigarette. At the same time, I was a squash player. During the PNDC era, that was the popular sport.

“As a storekeeper who used to play sports with the big men, the then regional minister advised me to register a construction company. He told me he could assist me in getting contracts. I thought about it and registered my company in 1984. After sometime, I left the store for my wife and concentrated fully on the construction job. I made all my wealth through construction,” he added.

Opanyin Wadie, who is still in the construction business, has contributed a lot to Kwahu Nkwatia, including building an 18-unit classroom block, a staff bungalow, and a dormitory block for the St Peters Senior High School, the Ghana Police Service Divisional Headquarters at Kwahu, and several others.

On the number of cars and properties that he owns, Opanyin Wadie failed to disclose when quizzed by the reporter.

Watch him narrate his story below:

Former West African light-heavyweight champion, Segun ‘Success’ Olanrewaju, has reportedly died after collapsing during a boxing match in Ghana on Saturday.

Olanrewaju was competing against Ghanaian boxer Jon Mbanugu at Fight Night 15 of the Ghana Professional Boxing League at Bukom Boxing Arena when he suddenly lost consciousness.

Segun, a 40-year-old veteran of the sport, was competing in an undercard bout of Ghana’s Professional Boxing League’s Fight Night 15 when the unthinkable occurred.

Known for his powerful punches and resilient spirit, Segun had reportedly been leading on points in a competitive yet friendly exchange with Mbanugu, nicknamed “Power,” an Accra-born rising star in the Ghanaian boxing scene.

A widely circulated video on social media captured the moment he collapsed in the ring, further shocking fans and the boxing community.

Olanrewaju, a highly respected figure in Nigerian boxing, held both the Nigerian and West African light-heavyweight titles during his career.

Featured

Graphic.com.gh

Mar – 30 – 2025 , 10:53

1 minute read

In 2015, the International Monetary Fund (IMF) while discussing requests for a bailout for Ghana, classified the country as “high risk of debt distress” under a new debt sustainability analyses.

At that time, the public debt stood around GH¢97 billion.

However current figures published by the Bank of Ghana shows a high figure of GH¢726.7 billion, which is $49.4 billion and constitutes 61.8 per cent of GDP.

The breakdown is as follows: GH¢416.8 billion or $28.3 billion in external debts which is 35.4 per cent of GDP and domestic debt totalling GH¢309.8 billion.

The Bank of Ghana in its recent Monetary Policy Committee report indicated that the 2024 fiscal deficit, on commitment basis, was 7.9 per cent of GDP against a target of 3.8 per cent of GDP, on the back of higher expenditures than target.

“This notwithstanding, early indications from banking sector data suggest some improvements in fiscal performance in early 2025. This, along with the commitment to fiscal consolidation presented in the 2025 budget, should support the fiscal outlook. Also, the ratio of public debt declined supported by the debt restructuring,” the Governor, Dr Johnson Asiama said. 

The country, driven by the economic crisis, occasioned among others by its debt crisis and the COVID-19 pandemic, succumbed to an IMF programme in May 2023.

Ghana and the IMF signed a $3 billion, 36-month Extended Credit Facility programme, with the first tranche of $600 million immediately disbursed, expected to restore macroeconomic stability, ensure debt sustainability, and foster higher growth.

According to the central bank, the stock of Gross International Reserves, at the end of February 2025, was $9.4 billion, enough to cover 4.2 months of imports of goods and services. This, it said, compares to the stock of $5.9 billion at the end of December 2024, equivalent to 4.0 months of imports of goods and services.

The Gross International Reserves, as defined under the IMF programme to exclude the encumbered assets and petroleum funds, increased to $6.9 billion, equivalent to  3.0 months of imports of goods and services, in February 2025, the Bank added.

By Emmanuel K Dogbevi
Copyright ©2025 by Creative Imaginations Publicity
All rights reserved. This article or any portion thereof may not be reproduced or used in any manner whatsoever without the express written permission of the publisher except for the use of brief quotations in reviews.

Ghana spends over US$400 million annually on importing tomatoes from neighbouring countries

The Industrial and Commercial Workers Union (ICU) has appealed to the government to revive the Pwalugu tomato factory.

According to the General Secretary of the union, Morgan Ayawine, reviving the factory will create jobs for the many unemployed youth in the Upper East Region.

He added that reopening the tomato factory would also help reduce the high importation of tomatoes, saving the country significant amounts of money.

Speaking at a regional conference in the Upper East Region on Saturday, March 29, 2025, Morgan Ayawine said, “So many businesses and industries have been left to go fallow. This is a serious concern for the Union, as it is exacerbating the already precarious unemployment situation in the country. A typical example is the Pwalugu tomato factory in the Upper East Region, which has been abandoned over the years, while the indigenes of the region remain unemployed.”

“For the factory to realise its economic potential and fulfil the purpose for which it was established, we wish to use this forum to appeal to the government to seriously consider reactivating the Pwalugu tomato factory to create employment for the unemployed youth and also save the nation the huge foreign exchange used to import tomatoes into the country,” he added.

According to reports, Ghana spends over US$400 million annually on importing tomatoes from neighbouring countries, including Burkina Faso.

Despite the Pwalugu tomato factory having the capacity to produce almost 500,000 metric tonnes of tomato paste per day, the factory has remained closed due to several factors, including a lack of raw materials, inadequate machinery for canning the paste, and various managerial issues.

The factory’s inability to operate at full capacity and the unprofitability of tomato farming in the area, due to low demand, has caused the factory to fail since its extended closure in the 1990s.

As a result, many farmers have shifted their attention to cultivating other crops or have migrated to the south for menial work.

Watch the latest edition of BizTech below:

Click here to follow the GhanaWeb Business WhatsApp channel

SA/EB

Featured

GraphicOnline

Politics

Mar – 30 – 2025 , 10:08

2 minutes read

Accra, March 29, GNA – Muslims in Ghana preparing for the Eid-ul-Fitr celebrations have expressed strong dissatisfaction over the significant surge in the prices of Abaya and Jalbab, traditional garments widely worn for the festive occasion.

In exclusive interviews with the Ghana News Agency, several celebrants voiced their concerns about the escalating cost of these essential Eid outfits, making it difficult for many to afford new attire for the significant religious holiday marking the end of Ramadan.

Madam Fatima Ali, a resident of Nima, lamented the steep increase in the prices of Abayas.

“Last year, I bought an Abaya for 400 cedis, but this year the same abaya is selling at 800 cedis. It is becoming hard for some of us to buy new clothes for ourselves and relatives for the Eid festivities,” she said.

She told the GNA that similar Abayas with the same features were being sold at lower prices in Togo and Nigeria.

She reiterated that, “Why do we do this to ourselves? We are all Muslims, but the way we cheat one another when it comes to trade and pricing is not fair.”

Another celebrant, Musah Safian, also shared similar sentiments but highlighted the cultural significance of new garments for Eid.

“Wearing new clothes on Eid is a cherished tradition.

It symbolises renewal and joy after the period of fasting. However, the current prices are simply exorbitant and will prevent many from fulfilling this tradition,” he said.

According to Sheikh Yunus Adam, an Islamic Scholar, wearing new garments for Eid festivities is not compulsory but highly recommended and encouraged.

He also advised Muslims to adhere to Prophet Mohammed’s ways of modesty and shun opulence and extravagance.

“If you think you cannot afford the Abaya, then wear your old dress. Just get it ironed and clean for the day,” he said.

Market surveys conducted by the Ghana News Agency in various markets of Accra, including Nima, Makola, and Tudu, confirm a substantial increase in the prices of Abayas and Jalbabs.

The price range for a decent quality Abaya now starts from GHS 600 and can go up to GHS 5,000 or more depending on the fabric, design, and embellishments.

Similarly, the price of Jalbabs has seen a considerable increase, ranging from GHS 300 to GHS 3,000 and above.

Traders attribute the hike in prices to the Cedi’s depreciation, high import duties, and transportation costs.
GNA
SOF

Acting Managing Director of Precious Minerals Marketing Company, Sammy Gyamfi

The Acting Managing Director of the Precious Minerals Marketing Company, Sammy Gyamfi, has quashed claims that the structure of the GoldBod, which combines both commercial operations with regulatory functions, could create conflicts of interest.

According to him, GoldBod is neither a regulator nor a commercial competitor but simply a monopoly in the trading and export of gold.

In a post on X sighted by GhanaWeb Business, Sammy Gyamfi explained that the regulatory powers of GoldBod are intended to ensure compliance with its Act and regulations by licensed service providers who trade on behalf of GoldBod.

“The GoldBod is simply a monopoly in the trading and export of gold… The regulatory function of the GoldBod relates only to its own licensed agents and not to competitors,” he stated.

“For emphasis, the GoldBod will not be regulating competitors but rather its own licensed agents. Thus, the issue of conflict of interest does not arise at all,” he added.

Addressing the hoarding of gold, Sammy Gyamfi stated that it is a crime to engage in such practices.

He cited Clause 68(1) of the GoldBod Bill, which stipulates that no person shall, without lawful authority, hoard gold without a license or authorisation issued by the Gold Board, to support his assertion.

The purpose of Clause 68(1) of the GoldBod Bill is to prevent situations where licensed agents, provided with funds to purchase gold for GoldBod, hoard the commodity to cause scarcity, create unfair competition, or manipulate prices, among other concerns.

On Friday, March 28, 2025, Parliament passed the Ghana Gold Board Bill 2025 into law.

The Ghana Gold Board is tasked with overseeing, monitoring, and undertaking the buying, selling, and export of gold and other precious minerals.

This law designates GoldBod as the sole exporter of gold from Ghana’s small-scale mining sector, effectively prohibiting licensed traders and bullion dealers from exporting gold directly.

As part of efforts to revitalise the local economy, President John Dramani Mahama initiated the establishment of the Ghana Gold Board (GoldBod), which falls under the Ministry of Finance.

Watch the latest edition of BizTech below:

Click here to follow the GhanaWeb Business WhatsApp channel

SA/EB

Featured

GNA

Mar – 30 – 2025 , 09:34

1 minute read

Vice President Naana Jane Opoku-Agyemang has received medical treatment at the University of Ghana Medical Centre (UGMC) after suffering a sudden illness on Friday, 28th March 2025.

The Presidency’s Communications Directorate released a statement on Sunday, 30th March 2025, confirmed that she attended UGMC on Saturday following the unexpected health incident.

According to the statement, signed by Felix Kwakye Ofosu, Member of Parliament and Minister for Government Communications, medical experts have advised that the Vice President seek further treatment abroad to ensure her full recovery.

“We extend our best wishes to the Vice President for a speedy recovery,” the statement concluded.

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.

Acting Managing Director of Precious Minerals Marketing Company, Sammy Gyamfi

The Acting Managing Director of the Precious Minerals Marketing Company, Sammy Gyamfi, has quashed claims that the structure of the GoldBod, which combines both commercial operations with regulatory functions, could create conflicts of interest.

According to him, GoldBod is neither a regulator nor a commercial competitor, but simply a monopoly in the trading and export of gold.

In a post on X, sighted by GhanaWeb Business, Sammy Gyamfi explained that the regulatory powers of GoldBod are intended to ensure compliance with its Act and regulations by licensed service providers who trade on behalf of GoldBod.

“The GoldBod is simply a monopoly in the trading and export of gold… The regulatory function of the GoldBod relates only to its own licensed agents and not to competitors.

“For emphasis, the GoldBod will not be regulating competitors but rather its own licensed agents. Thus, the issue of conflict of interest does not arise at all,” he stated.

Addressing the subject of hoarding of gold, Sammy Gyamfi stated that it is a crime to engage in such practices.

He cited Clause 68(1) of the GoldBod Bill, which stipulates that no person shall, without lawful authority, hoard gold without a license or authorisation issued by the Gold Board, to support his assertion.

The purpose of Clause 68(1) of the GoldBod Bill is to prevent situations where licensed agents, provided with funds to purchase gold for GoldBod, hoard the commodity to cause scarcity, create unfair competition, or manipulate prices, among other concerns.

On Friday, March 28, 2025, Parliament passed the Ghana Gold Board Bill 2025 into law.

The Ghana Gold Board is tasked with overseeing, monitoring, and undertaking the buying, selling, and export of gold and other precious minerals.

This law designates GoldBod as the sole exporter of gold from Ghana’s small-scale mining sector, effectively prohibiting licensed traders and bullion dealers from exporting gold directly.

As part of efforts to revitalise the local economy, President John Dramani Mahama initiated the establishment of the Ghana Gold Board (GoldBod), which falls under the Ministry of Finance.

Watch the latest edition of BizTech below:

Click here to follow the GhanaWeb Business WhatsApp channel

SA/AE