President John Dramani Mahama is embarking on a crucial visit to Bawku and Nalerigu today, Tuesday, January 14, 2025, with a strong determination to resolve the long-standing conflict in Bawku. This conflict has been ongoing for decades, and the President aims to use this visit as an opportunity to engage with the conflicting factions and key stakeholders to promote dialogue and ultimately achieve lasting peace. During his visit, President Mahama is expected to meet with the Bawku Naba, , Zug-raan Asigri Abugrago Azoka II, paramount chief of the Kusaug traditional area. local leaders, and other key stakeholders to discuss ways...
‘As part of our 120-day agenda, we will abolish the E-levy’ – Ato Forson
Ghana’s Finance Minister-designate, Dr. Cassiel Ato Forson, has unveiled plans to abolish the controversial E-Levy and Betting Tax within 120 days of taking office. This move aims to ease the financial burden on Ghanaians and promote economic stability. “As part of our 120-day agenda, we will abolish the E-Levy,” he announced. Key Highlights of Dr. Forson’s Plan – Abolition of E-Levy and Betting Tax: Dr. Forson emphasized that scrapping these taxes will not harm the economy, citing the need to increase compliance with existing tax laws instead of introducing new taxes. Scrapping the Betting Tax will not affect the forward...
We need to identify the wasteful budgets and cut them… – Ato Forson (Finance Minister Designate)
Dr. Cassiel Ato Forson, the Finance Minister-designate, has announced plans to establish an Independent Value for Money Office. This new office will help reduce waste in the public sector by working with parliament to check government expenditure and prevent overspending. Speaking before the Appointments Committee of Parliament, Dr. Ato Forson emphasized that wasteful expenditure is a major issue in Ghana’s economy. He believes that limiting corruption and wasteful expenditure will provide enough fiscal space for the government to focus on economic development. “No one can convince me that our budgets have no waste. The waste benefits only a select few....
Scrapping betting tax will not affect the economy – Ato Forson
Finance Minister-Designate Dr. Cassiel Ato Forson has played down concerns about the economic impact of scrapping the betting tax, citing its relatively minor contribution to the national coffers. The tax generates less than GHC50 million annually, a drop in the bucket compared to the country’s overall revenue. Dr. Ato Forson’s remarks came during his vetting by the Appointments Committee of Parliament on January 13, where he emphasized that removing the tax would have minimal economic consequences, provided the government adjusts its expenditure to offset the revenue shortfall. The Minister-Designate described the betting tax as a “nuisance tax” that doesn’t bring...
Ato Forson, Jinapor and Ayine to be vetted today
Parliament is set to commence the vetting of the first batch of ministerial nominees presented by President John Dramani Mahama today, Monday, January 13, 2025. The vetting process will begin with the examination of Dr. Cassiel Ato Forson, the Member of Parliament for Ajumako-Enyan-Esiam and current Majority Leader, who has been nominated as the Minister-designate for Finance. Ato Forson’s nomination comes at a time when Ghana’s economy faces challenges, including high inflation, mounting public debt, and calls for sustainable economic reforms. This constitutional requirement will be carried out by Parliament’s Appointments Committee which was constituted on January 9, 2025. Next...
EC Publishes Official Presidential Results for 275 Constituencies
Ghana’s Electoral Commission has officially released the results of the 2024 presidential election, with one constituency’s results still pending. According to the updated results, National Democratic Congress (NDC) candidate John Mahama secured victory with 6,591,790 votes, representing 56.42% of the total votes cast Mahama defeated his closest contender, Dr Mahamudu Bawumia of the New Patriotic Party (NPP), who received 4,877,611 votes, representing 41.75% of the total. Nana Kwame Bediako, popularly known as Cheddar, the leader of the New Force Party, emerged as the leading candidate among the smaller parties, garnering 88,944 votes, or 0.76% of the total. The Electoral Commission’s...
Gov’t to borrow GHȼ200bn from T-bill market in 2025 – Report
The government is expected to borrow approximately GH₵200 billion from the Treasury bill market in 2025, representing a reduction from an estimated GH₵220 billion in 2024, according to Databank Research. This projection reflects an average weekly borrowing of GH₵3.9 billion, down from GH₵4.2 billion in the previous year. In its 2025 Ghana Market Outlook report, Databank Research attributes the decline in short-term borrowing to improved access to alternative funding sources and a strategic pivot toward long-term securities. This shift aligns with Ghana’s broader economic recovery efforts and increased access to international financial markets, offering the government greater flexibility in exploring...
ORAL has gathered sufficient evidence on looted state properties – Ablakwa
The Member of Parliament for North Tongu and Chairman of the Operation Recover All Loot team, Samuel Okudzeto Ablakwa, has announced that the team has gathered substantial evidence of looted state assets by appointees of the previous administration. According to Ablakwa, the collected evidence will soon be presented to President John Dramani Mahama for further action. Weeks ago, President Mahama appointed Ablakwa, alongside Nathan Kofi Boakye, Martin Kpebu, Raymond Archer, and Daniel Domelevo, to investigate and compile evidence of state capture and asset misappropriation. Speaking to journalists in the Eastern Region, Ablakwa expressed confidence in the team’s progress, describing their work as...
Ato Forson Announces Plans to Seek More IMF Support for Ghana
Ghana’s new government, led by President John Dramani Mahama, is considering seeking additional funding from the International Monetary Fund (IMF) to support the country’s economy. This move is aimed at cushioning the economy and addressing the challenges it faces. Economic Challenges Ghana’s economy has been experiencing significant challenges, including a high inflation rate and a large public debt. The country defaulted on most of its external debt in 2022, leading to a painful restructuring process. The new government has inherited an economy emerging from its worst crisis in a generation. IMF Funding The IMF has already approved a three-year program...
Ghana ranks second in global IMF poverty loans
Ghana ranks as the world’s second country indebted under the International Monetary Fund (IMF) Concessional Lending and Debt Relief Trust. The country holds an outstanding exposure of 2.242 billion Special Drawing Rights (SDR) representing 17% of the total borrowings from the IMF. This is captured in the IMF’s latest financial statements and quarterly reports ending October 31, 2024. Specifically, the facility classified under concessional lending is offered at low interest rates, with the Poverty Reduction and Growth Trust (PRGT) providing financial support to low-income countries on favourable terms within one to three years. Ethiopia emerged first with an IMF debt of 2.256...