Government spokesperson Felix Kwakye Ofosu has defended the decision to remove taxes on betting winnings, citing the economic hardship and lack of employment opportunities faced by many young people. Speaking on JoyNews’ Roundtable, Kwakye Ofosu acknowledged that betting isn’t the most desirable activity, but it has become a means of survival for many. “We find that there were many youth who were driven into that activity because of hardship and the need for them to find something to do to make ends meet,” he stated. He argued that taxing winnings would worsen the economic situation of bettors, who are already...
Akufo-Addo’s Gov’t Squanders GH¢195 BILLION in Dubious Contracts!
Finance Minister Dr. Cassiel Ato Forson has revealed a staggering GH¢195 billion in contracts awarded by Ministries, Departments, and Agencies (MDAs) under the previous Akufo-Addo administration . Speaking in an interview with Channel One TV on Wednesday, March 12, just a day after presenting the 2025 Budget. Dr. Forson expressed alarm at the sheer scale of commitments made, prompting him to suspend payments while seeking further clarification from the MDAs involved. The situation is further complicated by multiple payment requests submitted to the Ministry of Finance. MDAs had awarded contracts over GH¢195 billion. Then, aside from that, the MDAs had...
Dr. Amoah demands investigation into National Cathedral Funds
Former Deputy Finance Minister Dr. Stephen Amoah has expressed concerns about the financial implications of the National Cathedral project, despite having no objections to its construction. Speaking on Joy News AM, Dr. Amoah acknowledged sharing concerns with others about the source of funding and overall cost of the project. As a Christian, Dr. Amoah clarified that his concerns aren’t about the cathedral itself, but rather the financial aspects. “Honestly, I am not against the cathedral because I am a Christian, but I am with those who are raising concerns about how much has gone into our foundation,” he said. He...
Transforming Ghana: 24-Hour Economy and 4 Other Major Initiatives in 2025 Budget
Ghana’s 2025 Budget has unveiled five key interventions aimed at transforming the country’s economy, boosting job creation, and stabilizing national finances. These initiatives were announced by Finance Minister Dr. Cassiel Ato Forson on Tuesday, March 11, 2025. 1. 24-Hour Economy The 24-Hour Economy policy seeks to stimulate sustained economic growth by enabling businesses and institutions to operate around the clock in three eight-hour shifts. This will increase production, promote productivity, and create well-paying jobs. “We will be presenting the policy to Parliament in due course for consideration. Accordingly, the Labour Act, the GIPC Act, and other enabling legislations will be...
Amin Adam Claims GOLDBOD is a Vehicle for ‘Looting’ Public Funds
Former Finance Minister Dr. Mohammed Amin Adam has made some serious allegations against the current administration, accusing them of setting up the Ghana Gold Board (GOLDBOD) as a way to misappropriate public funds. Specifically, he’s taking issue with the allocation of GH₵270 million to GOLDBOD, which he believes is not only unjustified but also a deliberate attempt to divert Ghana’s gold resources to benefit a select few within the governing National Democratic Congress (NDC) party. Dr. Amin Adam’s concerns were triggered by the current Finance Minister, Dr. Cassiel Ato Forson’s announcement on March 11, regarding a budgetary allocation to support...
Government Won’t Use Public Funds to Rescue Bank of Ghana- Finance Minister
Finance Minister Dr. Cassiel Ato Forson has made it clear that the government won’t be using taxpayer funds to bail out the Bank of Ghana (BoG) to the tune of ¢53 billion. This decision comes after the central bank’s request for a bailout due to its negative equity challenge under the previous Ernest Addison-led administration. Dr. Forson emphasized that the BoG’s financial struggles are a result of its own actions, having generated significant debt and deficits, leading to an unhealthy balance sheet and negative equity. “On the back of the report that showed the ¢60 billion hole, remember, in my...
Deputy Finance Minister Defends 3% Hike in Growth and Sustainability Levy
Deputy Finance Minister Thomas Ampem Nyarko has defended the government’s proposal to increase the Growth and Sustainability Levy on mining companies from 1% to 3% of their gross production. This move aims to boost national revenue generation, particularly when global commodity prices are favorable. According to Ampem Nyarko, the modest increment is necessary to ensure the government captures a fair share of revenue from the mining sector. He emphasized that this is a windfall tax, and with the economic rent accruing at about 14%, the current 1% levy is insufficient. “This is a windfall tax and the minister explained clearly...
2025 Budget: Patrick Boamah Spells Out Minority’s expectations.
Lawyer Patrick Boamah, Member of Parliament for Okaikwei Central, has outlined the minority’s expectations ahead of the 2025 Budget presentation by Finance Minister, Dr. Ato Forson, scheduled for Tuesday, March 11, 2025. The law maker outline the expectations of the minority where he stated that (the minority) will be expecting a clear cut policy and budgetary line for president Mahama 24 hour economy. Key Expectations: Clear Policy and Budgetary Line for 24-Hour Economy: Boamah emphasized the need for a well-defined policy and budgetary allocation to support President Mahama’s vision for a 24-hour economy. ” We in the minority will be...
2025 Budget Pivotal to Ghana’s Economic Revival – Ato Forson
Finance Minister, Dr. Cassiel Ato Forson, has sounded a note of caution, stating that despite recent efforts, the country’s economy remains in distress. Speaking during a youth engagement session, on X space, hosted by social media influencer KalyJay, Dr. Forson emphasized that Ghana is not yet out of the woods and requires careful measures to restore stability. “Let me make this point: let’s not deceive ourselves that the country is out of the woods yet. Our economy is still in distress, and the first thing we will need to do is to take measures to bring us back to the...
Education Minister urges Indonesia to establish Islamic Medical University in Northern Ghana
Education Minister, Haruna Iddrisu, is calling on the Indonesian government to establish an Islamic Medical University in Northern Ghana. This institution, according to the minister would help bridge the development gap between the northern and southern parts of the country, while strengthening educational and diplomatic ties between Ghana and Indonesia. The education minister believes that this university would accelerate the training of medical professionals in Northern Ghana, addressing the country’s shortage of medical doctors, particularly in rural areas. He also hopes that this collaboration would deepen the ties between Ghana’s Muslim community and Indonesia, the world’s largest Islamic nation. The...