Dr. Johnson Pandit Asiama, the Governor of Bank of Ghana, has called on all banks to strengthen internal controls and enhance oversight of operational areas.

The Governor said the responsibility for securing banking products and services must fall more squarely on institutions than on the average customer, who relied on the integrity of systems and due diligence.

The Governor was speaking at the maiden post-Monetary Policy Committee (MPC) meeting with the Chief Executive Officers of banks in Accra.

He said these engagements with the CEOs were central to ensuring a mutual understanding of policy direction and alignment in the collective efforts to foster macroeconomic stability and recovery.

He said the BoG’s Information Security Office continued to share real-time threat alerts, and institutions were expected to act swiftly under the Cybersecurity Directive.

“We take cyber threats seriously and urge all financial institutions to match that level of commitment,” he added.

Dr Aisama urged banks to take advantage of the gathering to emphasise the need for unwavering vigilance and full compliance with Anti money laundering obligations.

The Governor said lessons from past bank resolutions continued to shape crisis preparedness and the refining of supervisory and resolution tools.

He said this would include work to strengthen recovery planning and introduce a Resolvability Assessment Framework to ensure banks were both well-capitalized and resolvable in distress, especially in an increasingly interconnected system.

He said as the central bank deepened reforms and reposition the financial sector for the future, it was equally important to reflect on how banks could do more to drive Ghana’s economic transformation.

The Governor said the Bank expected stronger support especially from foreign-owned banks for trade finance, cross-border payment infrastructure, and platforms like Pan-African Payment and Settlement System.

He said BoG would engage with the sector to develop coordinated, practical solutions that improve transaction efficiency, expand export support, and enhance Ghana’s competitiveness in regional and global trade.

“To build true resilience, we must move decisively beyond traditional, reactive supervision toward a more forward-looking, risk-sensitive, and system aware model,” he said.

Dr Asiama said the shift was not just about enforcing compliance, but also about shaping a banking system that was agile, accountable, and prepared for the future.

He said the strategy was anchored on focusing on risk identification and mitigation, building digital resilience, focusing on governance and compliance, enhancing collaboration, building capacity for future challenges and prioritizing sustainability oversight.

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Angry NDC members in Ashanti Mampong burn party property over MCE appointment

Members of the National Democratic Congress (NDC) in Ashanti Mampong have vandalized party property in protest against the appointment of Esther Dwomoh as Municipal Chief Executive (MCE).

The aggrieved party members had preferred Yakubu Issifu for the MCE appointment instead.

They destroyed items such as chairs, tables, and a motorbike at the party’s constituency office and eventually set them on fire.

In a video of the incident shared on X (formerly Twitter), the angry party members expressed that they would not accept the appointment of someone who did not contribute to the party’s victory in the 2024 elections.

A team of police officers who arrived at the scene were unable to prevent the destruction.

“It is very nauseating for someone to toil, only for another person to get the appointment. When we were campaigning, where were these people?” one party supporter said.

Another member added, “His Excellency President John Mahama should handle things properly. If he believes the elections are over and that’s the end of it, he should remember that 2028 is coming, and we will go to the polls again.”

“The person they want to bring—we don’t know him or her, and that person doesn’t know us either. The party leadership should rescind this decision. If they want us to destroy the party in Ashanti Mampong, then we will contribute to its destruction,” the charged supporters declared.

Meanwhile, six Municipal and District Assemblies (MDAs) in the Bono Region have successfully confirmed their respective Chief Executives, nominated by President John Dramani Mahama.

These include the Dormaa Municipal, Dormaa West District, Dormaa East District, Berekum West District, Jaman North District, and Jaman South Municipal Assembly.

The Bono Region consists of 12 MDAs, comprising six municipal and six district assemblies.

Members of the NDC in Ashanti Mampong have vandalized party property in protest against the appointment of Miss Esther Dwomoh as MCE, over their preferred candidate, Hon. Yakubu Issifu. pic.twitter.com/g79LTYBoAG

— SIKAOFFICIAL🦍 (@SIKAOFFICIAL1) April 10, 2025

KA

Ever heard of a colonial fort with a children’s dungeon and a unique shrine for the slaves? Find out the details with Etsey Atisu as he toured Fort William at Anomabo below:

Three friends have been granted GH¢100,000 bail with two sureties each by the Nkawie circuit court in the Atwima Nwabiagya South Municipality of the Ashanti region, for engaging in illegal mining activities at Atwima-Tetrem.

Fatawu Seidu 35, Mechanic, Solomon Osei, 40, barber and Simon Awindawu, 19, unemployed, pleaded not guilty and will reappear before the court presided over by Robert Addo on May 5, this year.

Police Detective Chief Inspector Ntim Boadu, prosecuting, told the court that the complainants of the case were Police Officers.

He said, on April 08, this year, at about 9:20am, the Police had a tipoff that the accused persons were prospecting for gold in the concession of the Asanko Gold Mining Company at Tetrem-Aboabo.

The Police went and met the accused persons in a dug illegal mining pit, but upon seeing the Police, they hid their gold detector machine in the pit and fled.

The Police, however, managed to arrest them and in their caution statement Fatawu and Awindawu admitted the offense, but Osei denied and told the Police that he only accompanied his friends to watch their work.

After further investigations, they were charged and brought before the court.

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The Member of Parliament for Bawku Central, Mahama Ayariga, has condemned recent violent clashes between police and the youth in Bawku, which have reportedly led to fatalities and injuries, as well as an attack on his private residence.

In a statement issued while on official duty outside the country, the MP expressed his sympathies to those affected by the violence and appealed for calm amid rising tensions over the prolonged Bawku conflict.

“Whilst attending an official assignment out of the country, I have learnt about fatal violent encounters between the police and the youth in Bawku and a subsequent vandalization and attempt to burn my private residence in Bawku in anger,” he said.

The MP acknowledged the deep-seated frustration among the youth regarding the slow pace of resolving the Bawku and Kusaug conflict, as well as concerns over the conduct of some law enforcement officers.

“I understand the anger and frustration of the youth about the pace of the resolution of the situation in Bawku and Kusaug and the misconduct of some misguided law enforcement officers. The National Democratic Congress (NDC) government remains committed to its promise to ensure justice and lasting peace. My condolences to the bereaved and sympathies to the injured.”

He reaffirmed his support for the ongoing peace efforts being mediated by the Asantehene, Otumfuo Osei Tutu II, emphasizing that the process has the backing of key traditional authorities in the region.

“In this regard, I will urge all of us to remain committed to the peace process being led by His Majesty the Asantehene Otumfuo Osei Tutu II. The Overlord of Kusaug, Zugran Naaba Asigri Abugrago Azoka II and the Overlord of Mamprugu Nayiri Naa Bohagu Mahami Sheriga have committed themselves to the process and are fully participating.”

The MP assured his constituents of his unwavering commitment to resolving the long-standing dispute in accordance with Ghana’s laws and judicial decisions, which, he said, must be respected and enforced.

“I want to assure the people of Bawku and Kusaug, whom I represent, that I remain resolute and committed to a lasting resolution of the matter according to the well-established laws and judicial decisions of Ghana, which must ultimately be respected and enforced.”

He also dismissed what he described as a coordinated smear campaign against him on social media, calling on the public to disregard “lies being told” by political opponents.

“Kindly disregard the lies being told about me by political detractors and people seeking shamelessly to take advantage of the current unfortunate situation in Bawku and Kusaug to settle personal electoral political scores. The smear campaign on social media will not distract me. In the end, we will be vindicated.”

Reaffirming his long-standing position on the chieftaincy dispute, the MP said, “My personal position on the matter has been known to all over the years and has never changed. It won’t change. I agree with the youth of Kusaug that another person cannot reside in Bawku claiming to be chief. But in reverence to the great Asante Stool, I leave that matter to Otumfuo Osei Tutu II to resolve expeditiously. The law enforcement officers must be cautious.”

Five persons lost their lives in a tragic accident at the Dodo-Pepesu portion of the Eastern Corridor Road in the Kadjebi District of the Oti Region on Wednesday, April 9.

A VIP Bus with registration number GT 6598-10, coming from the Nkwanta direction, collided head-on with Benz Sprinter Bus with registration number GT 6151-U, which was travelling from the Kadjebi direction.

An eyewitness, who wished to remain anonymous, told the Ghana News Agency (GNA) that the VIP Bus swerved to avoid a pothole, and in the process, crashed into the Sprinter Bus from the opposite direction.

The source said that four people died in the Sprinter Bus, while one other died in the VIP Bus.

Mr. Kingsford Seyram Adzimah, the Assemblyman for the Dodo-Pepesu/Dodo-Tamale Electoral Area, where the accident occurred, stated that he heard about the accident but could not provide details as he was not present at the time.

Superintendent Frank Nana Asomaning, the Kadjebi District Commander of the Ghana Police Service, confirmed the incident when reached by the GNA.

He stated that the bodies have been deposited at the St. Mary Theresa Catholic Hospital in Dodi-Papase and that “about 12 injured people are also being treated at the same Hospital.

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President of the Association of Ghana Industries (AGI), Dr. Humphrey Ayim-Darke, has spoken of Ghana’s industrial preparedness in the face of global economic shocks.

He warns that weak implementation of the country’s local content policy has left the economy vulnerable to external shocks such as the new 10% U.S. tariff on Ghanaian exports, including cocoa.

Speaking on Joy News’ PM Express Business Edition on Friday, April 11, Dr. Ayim-Darke expressed deep concern that despite years of rhetoric about local empowerment and industrialisation, very little has changed structurally in the Ghanaian economy.

“We are concerned with this rhetoric that, yes, it is okay. We can recalibrate our system and take advantage of it. Recovery couldn’t take advantage of the situation to industrialize,” he said.

Referring to assurances offered by government representatives in high-level stakeholder meetings, Dr. Ayim-Darke cautioned against taking such reassurances at face value.

“The general, broad assurance is there. But you know, there are some externalities, or external factors, when they befall a nation, no matter the assurance from the President… because they are beyond your control.”

He pointed to the COVID-19 pandemic as a missed opportunity, noting that the crisis could have triggered a serious transformation of Ghana’s manufacturing base.

“The case of COVID showed us one clear example,” he said.

“However, how did we execute the fallout of COVID, and how did we deliberately promote local manufacturing companies as a fallout out of the COVID? That example is there. How many companies can you count beyond that?”

Dr. Ayim-Darke argued that while local content legislation exists, its enforcement is weak and inconsistent. Citing the energy sector as a case in point, he recalled a concerted effort to promote local production of cables, conductors, and meter assembly plants in collaboration with the Electricity Company of Ghana (ECG).

“We even have a local content law… ECG was so cooperative in encouraging meter assembly plants to come to Ghana to take advantage of the local content. But beyond that, you need to go interrogate: how far has that been successful over the years?”

He called for a sober reflection on how the country has implemented structural reforms aimed at building internal capacity, arguing that the continued dominance of imports in Ghana’s economy reveals the failure of local content policies to deliver meaningful results.

“The structure of the economy is still highly dominant with imports,” he said bluntly.

“If COVID couldn’t give a stark reawakening to correct issues, and we could see such mistakes still reoccurring, what is the probability that we could take our destiny into our own hands?”

Dr. Ayim-Darke’s remarks come in the wake of the Biden administration’s decision to impose a 10% tariff on Ghanaian exports, including cocoa products—an action he described as another “external factor” with major implications for Ghana’s economy.

“This is one clear case of an external factor. How do you manage it? How do you mitigate it?” he asked.

Despite some optimism within government circles about recalibrating the economy to take advantage of the current challenge, the AGI President warned against complacency.

“That said, assurance is not sufficient, because there are other obstacles in these structural reforms to build internal capacity.”

Ending his remarks with a note of frustration, Dr. Ayim-Darke dismissed the official narratives surrounding economic liberation and transformation. “Even with this Liberation Day declaration, it’s full of talk. What we need is deliberate execution, not just declarations.”

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Leader of the People’s National Party (PNP), Janet Asana Nabla

The leader of the People’s National Party (PNP), Janet Asana Nabla, has shared her thoughts on the recent controversy surrounding the arrival of two aircraft in Ghana.

The issue was brought to light by Rev Ntim Fordjour, Member of Parliament for Assin South, who alleged that the planes were linked to money laundering and drug trafficking. He urged the government to investigate and publicly clarify the matter.

Following these claims, the response from Felix Kwakye Ofosu, representing the government, did not sit well with many Ghanaians.

Speaking to Akua Sonto on Kasapa FM’s morning show Ghana Kasa, Janet Nabla criticized his handling of the situation. She stated that if she were former President John Mahama, she would have fired Ofosu for spreading false information—unless the former president himself is aware of Ofosu’s actions.

She described his involvement in the aircraft saga as inconsistent and misleading.

Nabla emphasized that while Rev Ntim Fordjour may have raised serious allegations, he is not an investigative authority. She asserted that it is the responsibility of security agencies to thoroughly investigate such claims. Nabla also suggested that the government’s response appears to be a political stunt aimed at creating a perception of accountability.

On Wednesday, April 9, 2025, the situation escalated when security personnel attempted to arrest the MP at his Spintex residence in Accra.

The attempted arrest led to a standoff, as the MP refused to comply without being shown an arrest warrant—something opposition members claim was never presented.

Some officers of the military during the summit

A high-intensity and well-coordinated counter-terrorism simulation exercise was conducted at Laboma Beach in Accra.

It showcased the operational readiness and interoperability of Ghanaian and U.S. forces as part of the ongoing African Land Forces Summit (ALFS) 2025.

The exercise, codenamed Operation Steel Wave, simulated a high-stakes response to a terrorist threat targeting the summit, which has brought together around 300 military personnel from 40 nations to deliberate on improving land force capabilities in Africa.

This year’s ALFS is co-hosted by the Ghana Armed Forces (GAF) and the United States Army Southern European Task Force, Africa (SETAF-AF), under the theme: “Optimizing Land Forces for the Emerging Security Environment.”

The simulation unfolded as elite units stormed a mock terrorist base allegedly established by the fictitious group Sons of Muzan, depicted as plotting a large-scale suicide attack on the summit.

Intelligence in the simulation pointed to a notorious arms dealer and terrorist commander, “General Mugu,” operating from the Labadi Beach area, where explosives were being prepared and hostages held.

Troops from the Army, Navy, and Air Force executed a complex joint operation involving aerial insertion, amphibious assault, sniper overwatch, and drone surveillance.

The beachside exercise featured high-speed naval maneuvers, precision airdrops, ground assaults, hostage rescue operations, and the arrest of simulated high-value targets.

However, early morning rains partially disrupted the sequence of events, affecting some aspects of the terrain-based maneuvers.

Despite the weather challenge, the forces demonstrated adaptability, recalibrating the exercise in real time and proceeding with a successful execution.

Brigadier General Nicholas Paintsil, Commander of the Army Special Operations Brigade, Ghana Armed Forces, provided a detailed narration of the operation during the demonstration.

He emphasized the four-phase mission structure — covert infiltration and reconnaissance, isolation of the objective, assault and hostage rescue, and final withdrawal with site exploitation.

The forces demonstrated the full spectrum of a coordinated response to an evolving terrorist threat.

Brig. Gen. Paintsil noted that the demonstration highlighted how swiftly and effectively the forces could operate in joint environments, using land, air, and sea assets in sync to neutralize threats and save lives.

Operation Steel Wave was designed not only as a military drill but also as a message of deterrence to would-be adversaries.

The exercise, he said, underscores the importance of preparedness, partnership, and precision in counter-terrorism efforts.

Ghana, he further stated, remains committed to contributing to regional and global peace and security.

Spectators at the demonstration included senior military leaders from across Africa, U.S. and NATO partner nations, and representatives of the diplomatic corps.

Earlier, at the opening of the summit, U.S. Ambassador to Ghana Virginia E. Palmer lauded the professionalism and cooperation between the allied forces.

The African Land Forces Summit, which runs until April 10, continues to facilitate military-to-military dialogue, strengthen strategic partnerships, and foster regional cooperation to address shared challenges such as violent extremism, cross-border threats, and humanitarian crises.

The visit aimed to assess Zambia’s power sector and explore investment opportunities

Executive Chairman of Sunon Asogli Power Ghana, Togbe Afede XIV, led a high-powered delegation on a two-day exploratory visit to Zambia’s capital, Lusaka, as part of the company’s broader strategy to contribute sustainable solutions to the country’s energy challenges.

The visit aimed to assess Zambia’s power sector and explore investment opportunities that would help address the nation’s electricity generation shortfalls.

With a population of over 21 million, Zambia has suffered severe power disruptions in recent years due to prolonged droughts and climate change effects, which have adversely impacted its heavily hydro-dependent energy system.

Togbe and his delegation held extensive meetings with top management of ZESCO, Zambia’s state-owned electricity company, as well as senior government officials including the Minister of Energy, Hon. Makozo Chikote, and the Minister of Commerce, Trade and Industry, Hon. Chipoka Mulenga.

ZESCO Managing Director, Eng. Justin C. Loong, noted that the utility currently derives 99% of its energy from hydropower, making diversification not only a goal but a necessity.

He emphasised ZESCO’s openness to private sector collaboration as it seeks to increase the share of renewable energy in its generation mix to 30%. However, he also acknowledged that recent power purchase agreements (PPAs) with private companies have seen a low success rate.

During engagements with ZESCO and the Ministry of Energy, Togbe Afede shared Ghana’s experience and Sunon Asogli’s contribution to stabilizing the country’s energy sector.

He recounted how the 200MW Phase I of Sunon Asogli’s thermal plant was rapidly executed in Ghana and urged Zambia to adopt a forward-looking strategy in tackling its energy crisis, drawing parallels between Zambia’s current situation and Ghana’s pre-Asogli power sector, which suffered from similar overdependence on hydroelectric power.

Minister Chikote welcomed Togbe’s insights and expressed strong interest in partnering with Sunon Asogli Power to meet the Zambian President’s directive to integrate 1,000MW of solar power into the national grid by the end of 2025.

Togbe Afede presented an update on Sunon Asogli’s growing energy portfolio, which currently includes 560MW of installed capacity in Ghana. The company is set to add 800MW in Phase III, combining wind and solar photovoltaic (PV) power, and plans to begin power exports to Burkina Faso later this month. Additionally, Sunon Asogli is preparing to construct a 350MW combined-cycle thermal power plant in Cameroon.

Hon. Chipoka Mulenga, Minister of Commerce, Trade and Industry, reiterated the government’s commitment to supporting energy investments that align with Zambia’s industrial ambitions.

He noted that increasing electricity generation is essential for expanding the country’s copper production, which the government aims to raise to 3 million tonnes annually, as well as boosting agricultural productivity.

The delegation also visited the Lusaka office of the China Africa Development Fund (CADFund), a key partner in both Africa World Airlines (AWA) and Sunon Asogli Power.

Togbe Afede highlighted the company’s strong interest in Zambia’s power sector and shared AWA’s plans to extend its flight routes to the Sahel region.

The expansion aims to enhance regional integration and support the reintegration of Sahel countries into ECOWAS.

He further discussed potential investment opportunities in South Africa, Namibia, and the Democratic Republic of Congo with CADFund executives.

The Western Regional Officer of the National Identification Authority (NIA), Enoch Benjamin Sackey, has raised concerns over the growing number of uncollected Ghanacards in the region, revealing that over 47,000 printed cards remain at various NIA offices awaiting collection by their rightful owners.

Speaking after a meeting with the Western Regional Minister, Mr Joseph Nelson, Mr Sackey emphasized that the Authority’s commitment to enhancing identification services across the region is being hindered by the public’s inaction.

He announced plans to clear the backlog of unissued cards and streamline the card distribution process.

“As of now, we have received some 2,700 blank cards and are set to print over 15,000 pending cards within the next three weeks,” Mr Sackey stated.

“These will be made available for collection at both the regional and district offices.”

He encouraged residents who have registered but not yet collected their cards to visit their respective offices promptly, stressing that access to the Ghana Card is becoming increasingly essential for obtaining key public services.

The NIA continues to expand its operations and improve service delivery as part of its broader mandate to provide every Ghanaian with a unique national identification number.

 Corporate organisations, par­ticularly the banks, have been urged to invest in robust cyber security sys­tems, in order to safeguard their operations from cyber-attacks and threats.

This is because cyber security was continually evolving, and at­tackers were becoming increasing­ly sophisticated in their methods.

The acting Director-General of the Cyber Security Authority (CSA), Mr Divine Selase Ag­beti, gave the advice during the opening of the Chief Information Security Officers (CISO) Summit 2025, in Accra.

The two-day event, organised by the Israeli Economic and Trade Mission in Ghana, is being held under the theme “Proven Strate­gies for Global Cyber Executives: Maximising Organisational Securi­ty and Efficiency.”

It is being attended by chief information security officers, IT experts, regulators, and global cyber security solution providers.

Mr Agbeti revealed that hackers were constantly developing new tools and strategies to steal data from corporate entities, and it was, therefore, crucial for organ­isations to continuously upgrade their systems in order to stay ahead of cyber criminals.

He asked banks to be proactive in the cyber space, and ensure that their cyber security policies and controls were advanced and up-to-date.

Mr Agbeti stressed that finan­cial institutions must not only protect themselves but also put in place systems to minimise the impact of any potential cyber-at­tacks.

He urged all financial institu­tions to establish cyber security departments, and that both the departments and the professionals working there, should be accredit­ed by the CSA.

Mr Agbeti said that it was the responsibility of each institution to conduct regular threat-hunting exercises and risk assessments, and to address any risks identified.

He said the government aimed to make Ghana a safe and secure digital economy, and to position the country as a digital hub in the West African sub-region.

Mr Agbeti said that the CSA was aligning its goals with the government’s digital transforma­tion agenda, pointing out that such move could not occur with­out a secure digital environment.

He mentioned that the Author­ity was working to build national capacity by raising public aware­ness and training cyber security professionals, with the long-term objective of making Ghana an exporter of cyber talent within West Africa.

Mr Agbeti described the CISO Summit as timely, explaining that the current cyber security landscape demanded serious leadership.

He asserted that the role of CISOs must go beyond technical tasks such as monitoring firewalls and should be strategically aligned with the broader goals of their respective organisations.

The Israeli Ambassador to Ghana, Sierra Leone and Liberia, Mr Roey Gilad, encouraged Gha­na and corporate organisations to tap into Israel’s expertise in cyber security, to develop a strong and resilient cyber ecosystem.

He stated that Israeli private firms had invested approximately $3.8 billion in cyber security and high-tech infrastructure.

The Head of Africa and the Middle East at Israel’s Foreign Trade Administration, Mr Shai Zarivatch, said that Israel was a global leader in cyber security innovation, with more than 450 specialised start-ups in the sector by the end of 2024.

He explained that Israel’s leadership in cybersecurity had its roots in military expertise and national security needs, which had evolved to drive investment, innovation, and economic growth in response to global challenges.

 BY KINGSLEY ASARE

ECG former MD, Samuel Dubik Mahama

Former Managing Director of the Electricity Company of Ghana (ECG), Samuel Dubik Mahama, has shed light on what he described as a troubling lack of investment in the company during the first term of President Nana Akufo-Addo’s administration.

Speaking at the JoyNews National Dialogue, Mahama pointed to the government’s early focus on privatising ECG as a major factor behind the neglect of much-needed investment.

“If you cast your mind back, during the President’s first tenure, all efforts were geared towards sending ECG into privatisation. So, there was zero investment in the company,” he stated.

Mr Mahama, who took office as ECG Managing Director in 2022, said one of his immediate actions was to assess the company’s operational health, only to uncover glaring inefficiencies in its data and billing systems.

“When I assumed office in 2022 as Managing Director, one of the first things I did was to conduct a health check on the company,” he said. “What I found was that although there had been massive growth in the number of ECG customers, this was not properly reflected in the company’s data.”

He explained that the billing system was unable to capture the surge in new customers, leading to significant gaps in revenue collection.

“The billing system had its own deficiencies. When it hit the 4.5 million customer mark, new customers being added were not being captured in the billing system. They were hanging,” he revealed.

Mr. Mahama’s comments highlight long-standing systemic issues within ECG and underscore the need for both technical and policy-level reforms to enhance the efficiency and financial stability of the national utility provider.

Samuel Nartey George, Minister of Communications, Digital Technology, and Innovation

Minister of Communications, Digital Technology, and Innovation, Samuel Nartey George, has unveiled an ambitious reform agenda aimed at transforming Ghana Post into a modern logistics hub capable of driving e-commerce, cross-border trade, and public service delivery.

Speaking at a press briefing on Wednesday, April 9, 2025, the minister outlined a three-pronged strategy developed following an internal readiness assessment of the state-owned postal service.

“These reforms will transform Ghana Post into a vital enabler of e-commerce, cross-border trade, and citizen access to essential government services, laying the foundation for a more connected and efficient national economy,” he stated.

According to the minister, the first phase of the strategy will focus on upgrading infrastructure and information systems to keep pace with technological advancements, while strengthening protection against cyber threats.

The second component involves overhauling logistics operations to ensure faster, more reliable delivery services nationwide. This, he explained, is crucial to meeting the demands of a growing digital economy.

“Plans are underway to strengthen the backbone of domestic and cross-border trade logistics, especially for small businesses across the country looking to expand beyond national borders,” Mr. George added.

The President of the Association of Ghana Industries (AGI) has described the Covid-19 pandemic as a missed golden opportunity for the country to transform its economic structure and industrialise.

Dr. Humphrey Ayim-Darke, speaking on Joy News’ PM Express Business Edition on Thursday, April 11, lamented the country’s failure to pivot meaningfully towards self-reliance and manufacturing in the aftermath of the pandemic.

The failure he believes is now being exposed by recent global shocks, including the 10% tariff slapped on Ghanaian exports such as cocoa by the United States.

“The general, broad assurance is there,” Dr. Ayim-Darke noted, referencing statements from government officials about Ghana’s readiness to recalibrate its economy.

“But you know, there are some externalities, or external factors. When they befall a nation, no matter the assurance from the President… they are beyond your control.”

He identified the U.S. tariffs as a textbook case of such external shocks and warned that the nation must learn to internalise these risks and prepare accordingly.

“This is one clear case of an external factor. How do you manage it? How do you mitigate it?”

Dr. Ayim-Darke believes Ghana should have used Covid-19 as a springboard to reduce dependency on imports and build internal capacity.

“The case of Covid-19 showed us one clear example,” he said.

“However, how did we execute the fallout of Covid-19? How did we deliberately promote local manufacturing companies as a fallout of COVID? That example is there, but how many companies can we count out beyond that?”

To him, the government’s exit plan and economic restructuring narrative, while optimistic, lack practical substance.

“That said, assurance is not sufficient because there are other obstacles,” he stressed.

“Recovery couldn’t take advantage of the situation to industrialise.”

He cited the energy sector as one such area where Ghana has attempted to implement local content policies, encouraging companies to produce cables, conductors, and even set up meter assembly plants in collaboration with ECG.

“But beyond that,” he asked pointedly, “you need to go interrogate, how far have they been successful over the years?”

Dr. Ayim-Darke warned that the country continues to suffer from a structural economic imbalance dominated by imports.

“The structure of the economy is still highly dominant with imports,” he said.

“So if Covid couldn’t give us that reawakening to correct issues, and we could see such mistakes still are reoccurring, what is the probability that we could take our destiny into our own hands, even with this Liberation Day declaration?”

He ended on a sobering note: “It’s full of talk that we need,” implying that rhetoric without execution has become the norm, and Ghana risks repeating the same cycles of economic vulnerability unless it takes bold steps to industrialise in response to shocks like the recent U.S. tariffs.

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.

The President of the Association of Ghana Industries (AGI), has warned that the recent 10% tariff slapped on Ghanaian exports by the U.S. is a stark reminder of the country’s structural economic vulnerabilities.

Dr. Humphrey Ayim-Darke questioned the nation’s readiness to transform external crises into meaningful reform in his interview on Joy News’ PM Express Business Edition on Friday, April 11.

He stressed that while political assurances of resilience are often echoed in the wake of such external shocks, they rarely translate into real industrial transformation.

“To the extent of the assurance, you need to also internalise it and look at the risk element as an entity,” he argued.

“The general, broad assurance is there. But you know, there are some externalities—external factors—when they befall a nation, no matter the assurance from the President, because they are beyond your control.”

The AGI president described the U.S. tariff as a classic case of such external factors, calling on Ghanaian policymakers and industrial leaders to treat it as a moment of reckoning rather than rely on rhetoric.

“How do you manage it? How do you mitigate it?” he asked.

“There was this optimistic assurance that, look, we can recalibrate and restructure the economy to take advantage of it. Yes, it is possible. The case of Covid-19 showed us one clear example.”

Yet, he was quick to remind that while the Covid-19 pandemic exposed the fragility of global supply chains, Ghana did little to strategically reposition its economy in response.

“How did we execute the fallout of Covid?” he asked pointedly.

“How did we deliberately promote local manufacturing companies as a fallout of Covid? That example is there. How many companies can we count out beyond that?”

For Dr. Ayim-Darke, the failure to learn from past shocks raises doubts about the nation’s capacity to respond meaningfully this time.

“That said, assurance is not sufficient, because there are other obstacles in these structural reforms to build internal capacity.”

He pointed to the power industry as a missed opportunity, despite existing local content laws and clear prospects for value chain development.

“We even have a local content law, and we sought to build a value chain in the power industry so that manufacturers could produce cables and conductors,” he said, citing how the Electricity Company of Ghana (ECG) once encouraged meter assembly plants to set up in Ghana.

“But beyond that, you need to interrogate: how far have we come? Have they been successful over the years?”

To him, it is not enough to declare optimism or preach economic recalibration. The hard reality, he said, is that Ghana is still highly dependent on imports, and little has changed structurally.

“Recovery couldn’t take advantage of the situation to industrialize,” he lamented. “The structure of the economy is still highly dominated by imports.”

Casting doubt on the country’s ability to seize the moment following the U.S. tariff hike, Dr. Ayim-Darke asked: “If COVID couldn’t give us a start—reawakening to correct issues—and we see such mistakes still reoccurring, what is the probability that we could take our destiny into our own hands, even with this Liberation Day declaration?”

In his final remarks, he warned against complacency and political posturing, insisting that Ghana must move beyond talk if it is to ever build economic resilience.

“It’s full of talk that we need,” he said.

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