Commercial banks have assured that they will move quickly to reduce interest rates if the Bank of Ghana (BoG) reviews the Cash Reserve Ratio (CRR) for banks in the country.

The banks have also promised to take measures to improve lending to businesses.

This is due to the fact that the regulatory measure has impacted on their liquidity and loan book.  

The Managing Director and Chief Executive of First Bank, Ghana Victor Yaw Asante disclosed this on PM EXPRESS BUSINESS EDITION on February 27, 2025 with host George Wiafe.

Background

The BoG in 2024 introduced a new CRR regime that links the CRR requirements to loans-to-deposit ratios (LDRs).

The action was part of efforts to mop up excess liquidity in the banking sector.

The new regime includes:

* 25% CRR for banks with LDRs below 40%

* 20% CRR for banks with LDRs between 40% and 55%

* 15% CRR for banks with LDRs above 55%

CRR and Lending

Speaking on the programme, Mr. Asante revealed that if the Bank of Ghana is able to heed to the request, it will go a long way to improve the operations of banks.

 “We have made some passionate appeal to the Bank of Ghana and hopeful that could be addressed soon”, he added.

Cedi’s performance and Treasury bill auctions

The cedi has been fairly stable against the US dollar over the past months.

Mr. Asante called for measures that would improve the country export earnings to increase Ghana’s reserves.

He appealed to the BoG to use interventions and strategic measures to address the foreign exchange challenges without directly interfering in the market.

“We should also try and deal with expectations as well as manage things in a way that build trust”, Director noted

On recent limit in demand for dollars, Mr. Asante, revealed that the situation could be linked to improve supply of foreign exchange on the market.

On treasury bills auction and participation of commercial banks, Mr. Asante argued that the development should be seen as a demand and supply situation.

According to him, the reduction in treasury bills rate could also impact on cost of credit and lending rate if the trend is sustained.

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Black Stars skipper André Ayew

The fate of Black Stars skipper André Ayew with the national team remains uncertain as he is set to miss yet another international assignment in March 2025, according to multiple reports.

The Le Havre forward has not featured for the Black Stars in over a year and has reportedly lost his captaincy and shirt number in the process.

His prolonged absence, coupled with a reported change in leadership within the team, has sparked speculation that he is being forced out of the national setup.

According to Joy Sports, the Ghana Football Association (GFA) will soon announce a new captaincy structure, with André Ayew omitted from the list.

His younger brother, Jordan Ayew, is set to be named the new captain, while Alexander Djiku will take the first deputy role after Thomas Partey, who previously served as vice-captain, declined to retain the position.

Regarding Ayew’s iconic number 10 shirt, it has seemingly been handed to Mohammed Kudus, who wore it during the 2025 AFCON qualifiers. Reports suggest that the West Ham United star will continue wearing it for the 2026 World Cup qualifiers.

In addition to losing his captaincy and shirt number, head coach Otto Addo has hinted that the former Olympique Marseille star is not in his plans.

“We are looking at the future and focusing on long-term development. That’s mainly why we invited younger players and left out André Ayew,” he explained after excluding the veteran in his latest squad selection.

Despite these developments, the 34-year-old has made it clear that he has no intention of retiring from international duty.

“I love what I’m doing, and I’m not ready to stop,” he told BBC in an interview.

André Ayew is currently in good form for Le Havre in the 2024/25 season, leading the club’s scoring charts with three goals.

EE/EK

Meanwhile, watch GhanaWeb’s breakdown of the uproar triggered by Jamie Carragher’s comments on the AFCON and Mo Salah below:

Interest rates on treasury bills have marginally reduced

The government intends to borrow GH¢6.493 billion in its auction on February 28, 2025.

The results from the auction on February 21, 2025, showed that GH¢20.499 billion in bids were tendered. Out of this, the government accepted GH¢9.634 billion, which was above its intended target of GH¢7.729 billion.

This means the government rejected GH¢10.865 billion in bids.

The 364-day bill received bids worth GH¢8.110 billion but accepted GH¢3.968 billion.

The 91-day bill received bids worth GH¢7.385 billion but accepted GH¢4.233 billion.

The 182-day bill received bids worth GH¢5.003 billion but accepted only GH¢1.432 billion.

Interest rates, on the other hand, have marginally declined in the last few weeks.

Currently, the rate for the 91-day bill stands at 24.47%, down from last week’s 26.85%, while the 182-day bill fell to 25.38% from 27.80% last week. The interest rate for the 364-day bill also declined from 29.07% to 27.29%.

Last week, the government sold GH¢9.434 billion out of the GH¢17.699 billion tendered.

The recent appetite for short-term instruments indicates strong investor confidence. The government’s rejection of excess bids signals either a cautious borrowing approach or an effort to avoid high interest rates.

Treasury bills remain the government’s primary source of borrowing until it regains access to the international capital market.

SSD/MA

Meanwhile, watch as President Mahama delivers 2025 SONA

Minister of Tourism, Culture, and Creative Arts, Abla Dzifa Gomashie

The Minister of Tourism, Culture, and Creative Arts, Abla Dzifa Gomashie, has extended condolences to the family of the fourth-year Kwame Nkrumah University of Science and Technology (KNUST) student who was recently murdered.

Speaking at the launch of ‘Heritage Month 2025’ at the Channel One premises in Accra on February 28, 2025, Dzifa Gomashie expressed concerns about the increase in reports of misbehaviour among the youth.

“I’ve been to the Kwame Nkrumah Memorial Park to be with the cadets who are commemorating the 28th February incident on their own. It was important for me to go there because, in recent times, our children, perhaps taking a cue from what is happening in our communities and Parliament, are misbehaving,” she stated.

She added, “And only yesterday, we received the sad news of a life being cut short because another child thought it was his place to do something that caused the death of this young lady in her final year.

“My heart goes out to her family, especially to her mother, and to all of us Ghanaians, that we learn to be more tolerant, more appreciative of each other, and what we bring together for the development of our country in that same spirit.”

Background

The KNUST student was found unresponsive behind the central laboratory on campus in the early hours of February 27, 2025.

She was pronounced dead by medical authorities from the KNUST Hospital, who examined the body at the scene before it was conveyed to the hospital morgue for preservation and autopsy.

A subsequent police examination of the body revealed marks of violence.

Meanwhile, Daniel Tuffuor, the main suspect in the gruesome murder case, has been apprehended by the Regional Police for interrogation.

His arrest follows a thorough review of the university’s CCTV footage.

According to a statement issued by the university authorities, “The suspect, identified as a fellow student residing in the same hostel as the deceased, was found in possession of the clothing worn during the crime, which has been retrieved as evidence.”

FG/EB

Meanwhile, watch how D-Black reacted to Tolon MP’s demeaning ‘movie industry’ remark

By Evans Worlanyo Ameamu

Keta (VR,) Feb 28, GNA – Mr Anthony Dagadu, an economist, in the Volta Region, has commended President John Dramani Mahama for taking bold steps to revamp the standard of Ghana’s economy through the presentation of the State of the Nation Address (SONA).

According to him, the president’s efforts to stabilise the economy and promote production growth has given a new hope to Ghanaians, and it would yield positive results for better future.

Mr Dagadu, in an interview with the Ghana News Agency, praised President Mahama’s administration for the intention to implement policies that would help reduce inflation, stabilise the cedi, and promote economic growth productivity and public involvement.

“We need to commend the president for the plans to invest in infrastructure development, including roads, bridges, and energy sector and these investments will not only improve the business environment but also enhance the quality of life for Ghanaians,” he said.

Mr Dagadu, who is also a Governance Expert, specifically commended the president’s decision to fix the economic crises confronting the country and reset it on the path of growth and prosperity and noted that the move would improve the living standards of the public sector workers and boosted economic activity.

He explained that the president’s efforts to promote private sector development, particularly in the areas of agriculture, manufacturing, and tourism would potentially drive economic growth and create jobs for Ghanaians.

“I think this is the best State of the Nation Address we have witness for the past 16 years, the president presented the real state of the nation without trying to patch-up anything. And his upcoming policies outlined are full of hope for the future.”

Mr Dagadu commended the president for the move to establish TVET center of Excellence at all regional levels and implement of AgriNext programme, which would facilitate access to land bank for young farmers and create opportunity in agricultural value chain to promote greenhouse agriculture, among youth.

He said the call from the President Mahama for Ministry of Youth Development and Empowerment to roll out national apprenticeship programme to provide 10,000 jobs for the youth in the information technology with apprenticeship fees and start up kits should be embraced by all to alleviate unemployment plights.

Despite these developments, Mr Dagadu cautioned that there was still more work to be done to consolidate Ghana’s economic gains and urged the president’s administration to continue implementation of policies that promote economic growth, job creation, and poverty reduction.

Meanwhile, Mr Kwame Dzudzorli Gakpe, the Member of Parliament (MP) for Keta, pledged to provide all necessary support for the constituents, including persons living with disability (PWDs) to benefit from government policies that would initiate.

He said, “In the areas of job creation, water, roads, sea defence and our mega 24-hour economy and the 10 billion dollars ‘Big push’ policy for rapid infrastructure development, we will make sure our people benefit squarely.”

He said as the country continues to navigate the economic challenges created by the previous Nana Addo led administration, it was clear that President Mahama’s government was committed to promoting economic growth and improving the lives of Ghanaians, and urged all to rally support for success policies.

Some residents in Keta, GNA engaged, expressed hope and courage that President Mahama administration would revamp the economy for the progress and development of the nation.

GNA

President John Dramani Mahama

President John Dramani Mahama says government will begin the implementation of well-considered policies geared towards reversing the high food import bill and food inflation in the country.

The policies, he said, would be guaranteed by the availability of a reliable power supply for the agriculture and fisheries sector to meet food needs while advancing exports to earn foreign exchange to strengthen the economy.

“Ghana has fertile lands, abundant water, and human resources. Yet, we face a paradox. Our food import bill continues to soar, reaching alarming levels of over US$2 billion annually.

“In addition, rising food inflation is burdening households and threatening livelihoods,” he said during his first State of the Nation Address on the floor of Parliament on Thursday.

Sharing highlights of the policies, he said the government would introduce the Agriculture for Economic Transformation Agenda (AETA) to modernise agriculture, enhance agribusiness, ensure food security, lower food inflation, boost exports, and create sustainable jobs.

He also mentioned the Feed Ghana Programme, which would increase food production and reduce prices through projects like the Grains Development Project, focusing on rice, maize, and soybean production.

Other projects under the programme are the Vegetable Development Project, targeting crops such as tomatoes, onion, and pepper; the Poultry farm-to-table project to boost local production and eliminate poultry imports; and the “Nkukor nkitinkiti” project, which would cover 55,000 households producing eggs and fresh poultry for the market.

“Ghana imports 95 per cent of its poultry needs, which costs over US$300 million annually. To reverse this trend, government plans to revamp the poultry sector by investing in hatcheries, feed mills, processing, and distribution, working toward eliminating poultry imports,” President Mahama said.

He hinted of initiatives to strengthen the collaboration between agriculture and industry, prioritise value addition and the positioning of agriculture as a profitable and appealing activity for the youth.

To address the challenges associated with access to mechanisation, quality seeds, fertilisers, and extension services, the President said the government would establish Farmer Service Centres

in every agricultural district, ensuring farmers receive essential resources to improve productivity and efficiency

“We will implement an AgriNext Programme to facilitate access to land banks by young farmers, connect graduates with opportunities in the agricultural value chain, and promote greenhouse agriculture among the youth,” he said.

”This initiative will benefit approximately 30,000 young people.”

The Livestock Development Project would also be introduced to address over-reliance on imported meat by restocking breeder farms to increase local livestock production, create jobs and boost self-sufficiency.

Other strategic interventions to enhance productivity and sustainability in the fisheries sector include intensified surveillance and monitoring operations, bolstered by the deployment of modern technology; expanding the supply of subsidised premix fuel to support artisanal and industrial fishers; and promoting aquaculture development to increase local fish production.

“We will also invest further in modern fish landing sites and cold storage facilities to improve post-harvest handling, reduce losses, and enhance the quality of fish products,” President Mahama said.

“Our commitment to supporting women in fisheries remains steadfast as we implement programmes to empower female fish processors and traders with financial resources and capacity-building initiatives.”

Watch the latest episode of Health Focus below

The hallowed halls of Parliament, witness to the ebb and flow of Ghana’s destiny, yesterday resonated with anticipation as President John Dramani Mahama delivered his maiden State of the Nation Address for his second and final term in office.

The air was alive with anticipation as the Majority side, clad in white, seemed to embody the very essence of hope; their attire a radiant expression of faith in the promise of tomorrow.

In stark contrast, the Minority side, adorned in sombre shades of black, appeared to  wear the mantle of dissent, their dark hues a poignant reminder of the lingering shadows of pessimism over the President’s promises to the nation.

As the clock struck 10:44 a.m., President Mahama stepped up to the lectern, a warm smile spreading across his face.

Clad in a colourful Dagomba-styled smock, he surveyed the room, his eyes locking onto the sea of expectant faces before him. 

With Vice-President, Professor Naana Jane Opoku-Agyemang; the First Lady, Lordina Mahama; former President, J.A. Kufuor; former First Lady, Nana Konadu Agyemang Rawlings; Chairman of the Council of State, Edward Doe Adjaho; and Chairman of the ruling National Democratic Congress, Johnson Asiedu Nketiah, the President found himself in a familiar company to deliver on the constitutional mandate in accordance with Article 67 of the Constitution on his return to the stage he once occupied between December 2012 and January 2017.

Although the scene in the chamber of Parliament was reminiscent of his first term appearances before the House, the circumstances were vastly different, with the weight of a struggling economy on his shoulders.

This included the projected GH¢280 billion in debt servicing hanging over the nation for the next four years, made up of GH¢150 billion for domestic debt and GH¢130 billion for external debt servicing.

Crossroads

President Mahama’s words wove a narrative of hope and resilience, tempered by the sobering realities of a nation at the crossroads, painting a vivid picture of the challenges facing the country and his vision for a brighter future.

 President John Dramani Mahama (seated 2nd from left) with Vice-president Prof. Naana Jane Opoku-Agyemang (right), Alban Sumana Bagbin (2nd from right), Speaker of Parliament, and Gertrude Esaaba Sackey Torkornoo (left), Chief Justice, during the 2025 SONA. Picture: SAMUEL TEI ADANO

“As we gather here today, we do so with a deep sense of responsibility, knowing that the decisions we make will shape the destiny of our great nation,” the President declared, his voice ringing out across the chamber.

President Mahama acknowledged that the state of the economy he inherited was worse than initially anticipated.

“The economy we inherited was in a state of distress, with rising debt, falling revenues, and a general sense of uncertainty,” he said.

For instance, he disclosed that despite the previous government’s expenditure of GH¢29.9 billion on the financial sector clean-up exercise, the sector remained in distress.

“The financial sector continues to struggle to date despite the reported spending of GH¢29.9 billion on the financial sector clean-up exercise,” President Mahama said. 

Reset

The President, however, reassured the nation that his administration was committed to fixing the problems and putting the country back on track.

“We are determined to restore hope, to revive the economy, and to rebuild our nation,” he said.

“We will do this by investing in our people, by creating jobs and opportunities, and by promoting economic growth and development,” he added.

“It is not my style to lament and shift blame when confronted with challenges. I will fix the economic crisis confronting our country and reset it on the path of growth and prosperity,” he added.

The President outlined his vision for a 24-hour economy, aimed at boosting economic productivity and generating decent jobs for the people.

“We must move away from the old ways of doing things and embrace a new era of innovation and entrepreneurship,” he said.

“We will support our entrepreneurs, our small business owners and our farmers, to help them grow and thrive,” President Mahama pledged.

Economic growth

The President highlighted several key initiatives aimed at promoting economic growth, including investments in infrastructure, support for small and medium-sized enterprises, and measures to improve the business environment.

“We will build new roads, new bridges and new ports, to facilitate trade and commerce,” President Mahama announced.

“We will also invest in our energy sector to ensure that we have a reliable and sustainable supply of power,” he added.

Free SHS

On the issue of education, President Mahama reaffirmed his commitment to sustaining and improving the Free Senior High School policy.

“I, John Dramani Mahama, President of Ghana, will not cancel the Free Senior High School programme. We will continue to invest in our children, to give them the skills and knowledge they need to succeed in the 21st century,” he said.

“We will also work to improve the quality of our education system by providing our teachers with the training and resources they need to excel,” President Mahama pledged.

Illegal mining, others

The President also pledged to address the scourge of illegal mining, which has devastated many communities across the country.

“We will take bold actions to stop the destruction of our environment and to ensure that mining is done in a responsible and sustainable way,” he said.

“We will work with our traditional leaders, our chiefs, and our community leaders, to ensure that our natural resources are used for the benefit of all Ghanaians,” President Mahama said.

In addition, President Mahama highlighted his administration’s efforts to improve health care, including investments in new medical facilities and equipment, as well as measures to address the shortage of healthcare professionals.

He said his administration would complete hospitals under the Agenda 111 project started by the previous administration, revealing that the predecessor government had no dedicated funding for the project.

“We will continue to invest in our healthcare system, to ensure that all Ghanaians have access to quality medical care,” he said.

The President also emphasised the importance of good governance, transparency and accountability, and pledged to continue his administration’s efforts to tackle corruption and promote integrity in public life.

“We will work tirelessly to ensure that our government is transparent, accountable and responsive to the needs of our people,” President Mahama stated.

As President Mahama concluded his address, the chamber erupted into applause, with many lawmakers praising his vision and leadership.

“Together, we will build a brighter future for Ghana,” the President declared.