By Elsie Appiah-Osei

Accra, Jan 31, GNA – The Minister-designate for Foreign Affairs, Mr Samuel Okudzeto Ablakwa, has urged President John Dramani Mahama to revisit and renegotiate the terms of the District Road Improvement Programme (DRIP).  

Mr Ablakwa’s call comes after he raised concerns during his vetting by Parliament’s Appointments Committee on Friday over the inflation of the project, allegedly by more than $100 million. 

The DRIP, launched in August 2024 by former President Nana Addo Dankwa Akufo-Addo’s Administration, aimed to enhance road maintenance and construction across all districts. 

It is also to bolster the capacity of Metropolitan, Municipal, and District Assemblies (MMDAs) by equipping them with state-of-the-art machinery and providing essential technical training to local authorities. 

Mr Ablakwa argued that despite the project’s noble objectives, its financial execution had allegedly been riddled with inefficiencies, potentially costing Ghana the much-needed resources.  

Only 25 per cent of the total project cost had been paid, leaving substantial room for renegotiation, he said. 

” … Mr Chairman, fortunately, only 25 per cent has been paid and not all the liabilities have been met, so I have encouraged the new Mahama Administration to renegotiate the DRIP so that we can save money because my conservative estimate is that it has been inflated by more than $100 million,” he stated. 

The minister-designate emphasised the need for the Government, led by President Mahama, to act decisively in addressing the issue to safeguard public funds.  

Mr Ablakwa highlighted the potential impact of recovering the “inflated funds,” which could be redirected to other critical sectors such as education, healthcare, and social intervention programmes. 

The DRIP has been marred by controversy, with Mr Ablakwa uncovering an alleged $102 million inflation in the contract, which was awarded to J.A. Plantpool, a subsidiary of the Zoomlion conglomerate. 

The contract was not awarded through a competitive process, but rather through a single-sourced deal, he said. 

Mr Ablakwa’s call for renegotiation comes as Ghana struggles with economic challenges, including an IMF bailout.  

He expressed the belief that recovering the “inflated funds” could make a significant difference in addressing the country’s economic challenges. 

GNA 

Issifu Seidu, the Minister-designate for Climate Change and Sustainability, has committed to introducing climate-resistant initiatives aimed at safeguarding vulnerable communities and sectors in Ghana.

Speaking during his vetting by Parliament’s Appointments Committee on Friday, January 31, 2025, Seidu emphasised the urgent need for strategic interventions to address the mounting impacts of climate change on Ghana’s economy and environment.

During his appearance before the committee, Seidu highlighted the pervasive impact of global climate trends, which he noted have significantly disrupted key state institutions and economic sectors, including agriculture, energy, and forestry.

Seidu identified agriculture as one of the most vulnerable sectors in Ghana. He explained how unpredictable rainfall patterns, prolonged droughts, and increased flooding have placed a strain on farmers and disrupted food security.

Additionally, the forestry sector has faced severe deforestation challenges, further exacerbated by climate change, while the energy sector has encountered challenges due to erratic weather conditions impacting hydropower generation.

“If I am given the nod what I will do is to support the existing ministries to come up with initiatives that will target the perennial flooding that we have. We need to have climate-resistant initiatives so that we can target the vulnerable institutions that we have.

“The vulnerable sectors of the economy are the agricultural sector, the energy sector, forestry and we need to come out with climate resistant initiatives to save our environment.”

The Paris Climate Agreement, signed by nearly 200 nations, commits countries to limit global temperature rises to below 2°C above pre-industrial levels and to pursue efforts to limit the increase to 1.5°C. Seidu acknowledged the importance of Ghana’s continued commitment to such agreements but stressed the need for practical, on-the-ground implementation of climate policies to achieve meaningful change.

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Jobberman Ghana, a tech-enabled career development and recruitment solutions company in Ghana, has launched the “Gye W Two Promo: Twice the Talent” campaign.

This initiative aims to help employers enhance their hiring efforts with a Buy-One-Get-One-Free deal on standard and basic job listings, along with complimentary soft skills training for employees who take advantage of the offer.

The promotion is started on January 28 and will end on March 7, 2025.

The Chief Executive Officer of Jobberman Ghana, Hilda Nimo Tieku, highlighted the company’s commitment to empowering employers and recruiters with innovative hiring tools.

“This exclusive offer is designed to maximize employers’ hiring potential like never before,” she stated.

“With our Buy-One-Get-One-Free deal, you can double your reach and attract twice the talent while staying within budget. Plus, we’re supporting professional development with free soft skills training for your staff. It’s a win-win for growth and success.”

This campaign is part of Jobberman Ghana’s ongoing efforts to enhance the hiring process, enabling companies to build exceptional teams without compromise.

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.

Treasury bills were oversubscribed in last week’s auction

The government aims to borrow GH¢6.527 billion in the upcoming treasury bill auction today, January 31, 2025.

For the fourth consecutive week, the government recorded a massive oversubscription in its treasury bill auction held on January 24, 2025.

The auction received total bids amounting to GH¢8.162 billion, exceeding the target of GH¢6.001 billion by GH¢2.161 billion.

According to results released by the Bank of Ghana on January 27, 2025, out of the GH¢8.162 billion bids tendered, the government accepted GH¢4.479 billion for the 91-day bill, GH¢1.756 billion for the 182-day bill, and GH¢1.927 billion for the 365-day bill. However, not all bids in the auction were accepted.

The interest rates for the latest auction increased slightly, rising from approximately 28.41% last week to 28.51% for the 91-day bill, 29.06% for the 182-day bill, and 30.40% for the 365-day bill.

Treasury bills have become the government’s primary source of borrowing due to its limited access to the international capital market.

The new government has assured the public that plans will be implemented to regain access to the international market and reduce reliance on domestic borrowing.

SSD/MA

The next four years under Mahama will be a golden age for fintech – Sam George

The shipping and logistics industry is the lifeblood of global trade—an intricate network that ensures the seamless flow of goods across continents, connecting businesses, nations, and economies. In Ghana, this sector is not merely a cog in the wheel; it is a driving force, an engine that powers the nation’s economy and secures its position on the global stage.

As vital as it is, however, the industry requires more than just functionality; it demands transformative leadership—leaders who possess the vision, energy, passion and strategic acumen to navigate the complex tides of commerce and policy.

When Kwesi Baffour Sarpong was appointed by His Excellency, President Nana Addo Dankwa Akufo-Addo in November 2023 to lead the Ghana Shippers’ Authority (GSA), few could have predicted the scale of impact he would make. From the very first day of his tenure, Sarpong injected the GSA with an electrifying energy—driven by a bold vision for Ghana’s shipping industry, and manifested through a clear strategy for reform, and an unyielding belief in excellence.

His approach was not just about doing things differently; it was about doing things better—creating a legacy that would withstand operational challenges and the test of time; and elevate the standing of Ghana on the scene of global trade.

Sarpong’s drive quickly became apparent as he set in motion a series of high-impact reforms and infrastructural developments. The Ghana Shippers’ Authority Act 2024 (Act 1122), a cornerstone achievement, stands as a testament to his visionary thinking. This groundbreaking legislation, which amended the 50-year-old Establishment Law (NRCD 254) of the GSA, redefines the regulatory landscape of Ghana’s shipping sector.

Its passage was propelled by tremendous support from both Parliament and the Ministry of Transport, whose collaboration ensured the Act’s swift enactment. The new law establishes clear frameworks to govern commercial shipping activities, eliminate unfair practices at ports and borders, and create a competitive environment that benefits all stakeholders.

By enhancing the regulatory mandate over transit shipping, the amended law ensures greater efficiency across the logistics chain, providing a more transparent, efficient, and competitive platform for trade.

Sarpong’s vision, however, extended far beyond legal reforms. Under his leadership, infrastructure was revolutionized. The Boankra Integrated Logistics Terminal (BILT), one of the most ambitious projects in the country’s logistics history, was brought to life with Phase 1 nearing completion ‘, and estimated to be completed by the end of the first quarter of the year.

This vital terminal promises to reshape the logistics landscape of the northern half of the country, improving road networks, storage facilities, and security zones to bolster the country’s trade capacity, especially with its landlocked neighbors, Burkina Faso, Mali and Niger. With full operations projected by 2026, BILT will be a game-changer for the region and for Ghana’s overall trade efficiency.

Simultaneously, Sarpong championed the perfection of land documentation to pave the way for the commencement of works for the Akatakyiwa Freight Park Project, strategically located at Yamoransa junction in the Central region, along the Accra-Takoradi highway.

This ambitious project is designed to cater to both transit cargo destined for landlocked countries and cargo flowing between Ghana’s southern and western regions. With truck parks, driver accommodations, restaurants, and workshops, it will serve as a vital hub for logistics services, enhancing Ghana’s standing as a trade facilitator in the region.

Sarpong’s leadership was not just about bold infrastructural projects or legislative triumphs—it was also about institutional growth and adapting to global industry trends. By the time the GSA marked its 50th anniversary, he spearheaded a major revisioning and repositioning initiative that realigned its mandate, vision, and mission with global standards of modern commercial shipping.

By streamlining the internal operations of GSA, and fostering greater collaboration with stakeholders of the sector, Sarpong laid a solid foundation for the GSA to adapt to the evolving dynamics of global trade. His commitment to building a culture of effective modern corporate governance, efficiency and service excellence has transformed the GSA into a model institution—one that serves as a beacon of professionalism in the industry.

Deservingly, His leadership has not gone unnoticed. Under his stewardship, the GSA earned the prestigious titles of Public Sector Company of the Year 2024 and Trade Facilitation Company of the Year 2024 at the Ghana Business Awards. These accolades are a reflection of the Authority’s extraordinary contributions to the shipping and logistics sector, and they stand as a testament to Sarpong’s relentless pursuit of excellence.

As Kwesi Baffour Sarpong moves on to pursue other interests, he leaves behind an institution that has been fundamentally reshaped and elevated to global standards of excellence. His successor, Prof. Ransford Gyampo, inherits not just an organization, but a legacy of transformation—one driven by vision, exposure, efficiency, and unwavering transparency.

Under Sarpong’s leadership, the Ghana Shippers’ Authority has evolved into a resilient, future-focused institution, primed to navigate the ever-changing dynamics of global trade and logistics. His tenure is a testament to his deep belief in service, embodied in his favorite maxim: Dulce et decorum est pro patria mori—”It is a very admirable thing to die for one’s country.”

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.

By Iddi Yire  

Accra, Jan 25, GNA – President John Dramani Mahama has nominated Dr. Johnson Asiamah to serve as Governor of the Bank of Ghana, pending approval by the Council of State.  

A statement issued by Mr Felix Kwakye Ofosu, Acting Spokesperson to the President, copied to the Ghana News Agency, said Dr Asiamah’s nomination followed the receipt and acceptance of a formal request by current Governor, Dr Ernest Addison, to proceed on leave ahead of his retirement on 31st March, 2025.  

Profile of Dr Johnson Asiamah  

Dr Johnson Asiamah who previously served as a Second Deputy Governor of the Bank of Ghana between 2016 and 2017, holds a PhD in Economics from the University of Southampton, UK and has extensive experience in monetary policy formulation, financial stability regulation and economic research.  

He has a wealth of experience in banking having worked at the Bank of Ghana for over 23 years.  

He has over the years demonstrated commitment to implementing sound monetary and exchange rate policy, foster a stable financial system, as well as promoting accelerated economic growth in Ghana.  

GNA

Government plans to prevent second debt restructuring

The Institute of Economic Affairs (IEA), a public policy think-tank, has cautioned the government against another debt restructuring by deliberately raising more revenue and being fiscally responsible.

The policy think-tank said being prudent with expenditure would inspire investor confidence as the economy rebounds amid the implementation of the IMF US$3 billion Extended Credit Facility (ECF) programme.

The IEA said this in its bi-monthly Economic Outlook for November to December 2024, with the expectation that the 2025 Budget, would sustain macroeconomic stabilisation efforts in line with the IMF programme.

Ghana completed its domestic debt restructuring in February 2023, achieving about 85 per cent exchange and 98 per cent exchange on the country’s US$13 billion external debt restructuring with Eurobond holders in October 2024.

“The 2025 budget is expected to conform generally to the programme. Moving along this path is necessary to avoid another painful debt restructuring, while engendering investor confidence in the economy.”

The Institute noted that the government’s intention to abolish the e-levy, COVID-19 tax, emissions tax and betting tax, would ease the burden on the few tax-paying households and businesses.

“The resulting loss in revenue is expected to be offset by reinforced efforts to plug the numerous tax loopholes, broaden the tax net and strengthen tax administration, among other measures,” it stated.

It, however, indicated that “resuming the debt service will put pressure on the budget and the exchange rate,” and called for measures to compensate the effects of the external debt repayment.

The policy think-tank said the 2025 budget should recognise the lack of fiscal space to support economic development due to limited Government revenue and take steps to increase the tax intake.

“It will be important also to recognise the potential of the natural resource sector to provide resources for development. Tapping this potential will require changes to the natural resource fiscal regimes towards increasing Ghanaian ownership and benefits,” the Institute said.

It also called for local value-addition to the country’s natural resources by giving priority to the processing and manufacturing sectors to increase revenues from that sector.

Meanwhile, Dr Cassiel Ato Baah Forson, the Minister of Finance, has tasked the revenue mobilisation and expenditure agencies, to ensure a balance between increasing revenue and government spending.

He made this call during his first working visit to the Ghana Revenue Authority (GRA) and the Controller and Accountant-Generals Department (CAGD), last Thursday.

“As part of the IMF agreement, this year, we may have to do additional tax revenue of 0.6 per cent of GDP [Gross Domestic Product] … your work is to ensure that whatever we ask you to pay, you review it and if it meets your law,” he told the two agencies.

‘We won’t allow the so-called Majority to force their way’ – Afenyo-Markin

Accra, Jan 31, GNA-The Speaker of Parliament has suspended four Members of Parliament (MPs) from attending parliamentary sittings for two weeks, effective Friday, January 31, 2025.

The suspended MPs are: Mr. Frank Annoh-Dompreh, Minority Chief Whip; Mr. Rockson Nelson Dafeamekpor, Majority Chief Whip; Mr Jerry Shaibu, Second Minority Whip and Mr Alhassan Sulemana Tampuli, a New Patriotic Party MP for Gushegu

Their suspension stems from misconduct during the appointments committee proceedings.

Video Attached:

GNA

Newly inducted Director of the Crops Research Institute of the Council for Scientific and Industrial Research, Professor Maxwell Darko Asante is requesting the government to operationalize the National Research Fund.

Parliament in 2020 passed the research fund act (Act 1056) to provide funding for growth of Ghana’s Innovation eco-system and research development, but this is yet to materialize.

Research in Ghana, though contributing to national development, has not sufficiently informed policy and decision owing to lack of adequate funds to support local research.

Speaking at his induction ceremony, Director of the Crops Research Institute, Prof. Maxwell Darko Asante, bemoaned the inadequate funds for research, urging the government to operationalize the National Research Fund enacted five years ago.

Prof Asante believes with such internal funds, when instituted, would enhance research and development to fit into the country’s development agenda, especially in the agriculture sector.

“I call on the government to urgently operationalize the National Research Fund (Act 1056), which was passed by Parliament in 2020. In addition, I recommend that the government routinely commission CSIR and the universities to solve problems related to its agricultural policy. I also urge consistency in Ghana’s agricultural policy,” he urged.
He added: “To multilateral and bilateral donors and the private sector, we call for enhanced investment in R&D to solve our problems. To the private sector and industrialists, we are ready and able to develop technologies tailored to your needs”.

The new director has since his journey as a research scientist focused on developing rice varieties in the country with his current research aimed at building climate-smart rice varieties.

Prof. Asante further highlighted his vision for the institute, including positioning it as the leading agriculture research institute on the African continent.

“My vision, which is rooted in the current strategic plans of CSIR corporate and CSIR-CRI, is to position CSIR-CRI as a premier center of excellence in African agricultural research,” he said.
He outlined his strategies to be adopted in achieving the goal including Strategic improvements for enhanced R&D delivery, Increased mobilization of resources, Enhancement of corporate image, visibility, and technology dissemination, Strengthening relationships with stakeholders, and Enhancement of staff well-being and institutional systems.

Director-General of the CSIR, Professor Paul Boso urged the new director to live up to his vision for the institute while pledging support for his administration.

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Some global awardees with exceptional achievement at the ACCA examination

The Association of Chartered Certified Accountants (ACCA) Ghana marked a significant milestone as it inducted 100 new members into the accounting profession.

The prestigious New Members Induction and Awards Ceremony, held at the Labadi Beach Hotel on Saturday, January 25, 2025, brought together industry leaders, established professionals, and emerging talents under the theme ‘Accounting for the Future.’

In his opening address, Colonel Noble Carl Doe Del-Alorse, Chairperson of the ACCA Ghana Network Panel, highlighted the rapidly evolving landscape of the finance profession.

“Today’s inductees are entering the profession at a time of unprecedented change and opportunity. The convergence of traditional accounting practices with emerging technologies presents both challenges and possibilities that will define the future of finance,” he added.

Col. Del-Alorse stressed the importance of adaptability and continuous professional development in today’s dynamic business environment.

“The successful finance professional of tomorrow must be more than just technically proficient. They must be strategic thinkers, technology advocates, and ethical leaders who can guide organizations through complex financial landscapes,” he explained.

Distinguished guest speaker Audrey Naa Dei Kotey FCCA Esq, further highlighted the technological revolution in finance.

“We are witnessing a fundamental transformation in how financial services are delivered and consumed. Artificial intelligence, automation, and advanced data analytics are not just buzzwords – they are essential tools that will enable accountants to provide deeper insights and more value to their organizations.”

Kotey particularly emphasised the critical role of ethical leadership in an increasingly automated world. “As technology handles more routine tasks, the human elements of our profession – judgment, integrity, and ethical decision-making – become even more crucial,” she stated. “

She noted that the trust placed in financial professionals must be earned and maintained through an unwavering commitment to professional standards.

Prize winners

The ceremony featured a special recognition segment celebrating outstanding academic achievement. Fifty-three future members received awards for their exceptional performance in ACCA examinations, as they demonstrated remarkable prowess both globally and within Ghana.

These high achievers set new benchmarks for excellence in professional accounting education, with several ranking among the top performers worldwide. “The achievements of these award winners reflect not only their individual dedication but also the rising standard of accounting education in Ghana. Their success positions Ghana as a growing hub for financial expertise in West Africa,” Col. Del-Alorse noted.

Looking ahead, ACCA Ghana announced plans to strengthen its professional development programmes, with particular emphasis on digital skills and sustainable finance practices. These initiatives aim to ensure that members remain at the forefront of industry developments and continue to meet evolving market demands.

Hearts of Oak are hosting Heart of Lions in a Matchday 19 clash at the University of Ghana Stadium.

Lions will be aiming to complete the double over Hearts of Oak after securing a 2-0 victory in the reverse fixture.

Meanwhile, Hearts will be seeking redemption, as a win would put the Phobians back on track after a goalless draw in their previous fixture.

On the other hand, the Lions are in the title race, trailing the league leaders by just one point. A win would keep their title hopes alive.

The Kpando-based side currently sits third on the log with 33 points, having won nine of their 18 matches.

Hearts of Oak, meanwhile, occupy the fifth position with 30 points.

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EE/AE

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His Excellency, the President, John Dramani Mahama has by Executive Instrument renewed the curfew hours imposed on Kpatinga and its environs from 12:00 midnight to 4:00am effective Friday, January 31, 2025.

Government continues to express its appreciation to the Chiefs, Elders, Opinion Leaders, Youth and people of the area to exercise restraint in the face of the challenges confronting them and to use non-violent means to channel their energies into ensuring peace.

Meanwhile, there is a total ban on all persons in the Kpatinga and surrounding areas from carrying arms, ammunition or any offensive weapon, and any person found with any arms or ammunition will be arrested and prosecuted.

Signed

CHIEF DIRECTOR

MINISTRY OF THE INTERIOR

Issued in Accra this Friday, January 31, 2025

Samuel Okudzeto Ablakwa nominated as Minister of Foreign Affairs-designate

The Minister-designate for Foreign Affairs, Okudzeto Ablakwa has revealed that the Ministry will use foreign policy as a tool to address the country’s unemployment challenges.

In responding to questions during his vetting before the Parliamentary Appointments Committee on Friday, the minister-designate specifically outlined that he will focus on economic diplomacy to address unemployment challenges.

“We will seek to aggressively pursue economic diplomacy that will allow bilateral agreements to be signed,” Ablakwa stated, outlining his plan to leverage Ghana’s international relationships to create opportunities for the country’s young people.

The Minister-designate emphasized that several countries are actively seeking Ghanaian employees, and he aims to ensure that foreign policy is used to turn this demand into a solution for the country’s unemployment crisis.

“There are lots of countries seeking Ghanaian employees. We will use foreign policy to address unemployment. We will make sure that brain drain becomes brain gain, where these agreements will help create jobs for the young people of our country”, Ablakwah explained.

Ablakwah’s proposed strategy involves formalizing and expanding bilateral agreements that will facilitate the hiring of Ghanaian workers abroad.

However, he is determined to ensure that the country capitalizes on the growing demand for skilled labor in various international markets, thus providing young Ghanaians with meaningful employment opportunities.

“There are lots of countries seeking Ghanaian employees. We will use foreign policy to address unemployment. We will make sure that brain drain becomes brain gain. Where these agreements will help create jobs for the young people of our country. Expect that we will formalize this arrangement and we will be deliberate about it to create jobs.”

Watch chaotic scenes in parliament after verbal altercation