The Controller and Accountant General’s Department has intensified efforts to clean up the public payroll, launching a joint operation with the Office of the Special Prosecutor to investigate and prosecute individuals implicated in payroll irregularities. This decisive action comes in response to concerns raised by the Public Accounts Committee of Parliament over widespread financial irregularities highlighted in the 2024 Auditor-General’s report. The report revealed disturbing trends—ranging from payments of unearned salaries to responsibility allowances awarded to undeserving staff and the overpayment of salaries. Addressing Parliament’s committee in Accra on Monday, August 25, Controller and Accountant General Kwasi Agyei acknowledged that, while some of the lost funds have been recovered, recovery alone is not enough. “My issue is we shouldn’t just end at recovery because we realised that we were happy when they said recovered then we tick. We should go beyond recovery,” he stated. Agyei explained that with today’s digital systems, there is a clear audit trail for every transaction. “The audit report will definitely indicate the recipients and their staff ID. We are working in collaboration with other security agencies, OSP, because if somebody did it definitely we are using an Oracle system,” he noted. He assured the committee that identifying those responsible is straightforward thanks to the system’s audit trail. “We can go straight into the system and know, identify who actually possessed the allowance on that particular day possessed the allowance. It is something very easy that we can do. Once we get that, we will just exercise patience and then definitely with the investigation, those culpable will be brought to book.” With this renewed collaboration, the Controller and Accountant General’s Department aims not only to recover misappropriated funds but also to ensure that those responsible are held accountable, sending a strong signal that financial malfeasance will not be tolerated in the public sector. Source: Apexnewsgh.com

President John Dramani Mahama met with United Nations Secretary-General António Guterres on the sidelines of the ninth Tokyo International Conference on African Development (TICAD-9). Their discussions focused on deepening multilateral cooperation, Ghana’s ongoing economic recovery, and the rising security challenges in West Africa. During the meeting, Secretary-General Guterres praised Ghana for its active engagement within the United Nations and applauded the country’s steadfast pursuit of the Sustainable Development Goals. He also highlighted Ghana’s pivotal leadership roles in both ECOWAS and the African Union, especially in addressing crises affecting the Sahel region. Guterres encouraged President Mahama to continue promoting collective, regional approaches to these complex challenges. President Mahama reaffirmed Ghana’s strong commitment to multilateralism and called for further democratisation of the UN, emphasizing the need for a more representative and effective global body. He informed the Secretary-General that Ghana’s economy, after facing a recent crisis, is showing signs of rebound, with debt restructuring measures underway to ensure long-term stability. The President expressed gratitude for the ongoing partnership with the UN Development Programme (UNDP), citing a recent orientation for newly appointed ministers, supported by the UNDP, as part of the government’s efforts to drive the “Resetting Ghana Agenda.” Source: Apexnewsgh.com

Ministry of Finance announced a significant milestone in Ghana’s ongoing Domestic Debt Exchange Programme (DDEP), confirming the successful payment of GH¢9.7 billion in coupon payments. This latest disbursement brings the total payout under the programme this year to an impressive GH¢19.4 billion. The Ministry emphasized that the timely payments reflect the government’s dedication to honoring the terms outlined in the Memorandum of Understanding governing the DDEP. This move, officials say, is designed to reinforce investor confidence and strengthen Ghana’s fiscal credibility at a pivotal moment for the nation’s economy.   In a further demonstration of fiscal prudence, the government has established two new sinking fund accounts—one denominated in Ghana cedis and the other in US dollars. Created by the 2025 Mid-Year Fiscal Policy Review and the Public Financial Management Act, 2016 (Act 921), these accounts are set to act as liquidity buffers, ensuring the smooth and timely redemption of bonds maturing over the next three years. The Ministry reassured investors and the public that all future debt obligations, including upcoming DDEP coupon payments, will be met fully and punctually. “The government assures investors and the public of its unwavering commitment to fiscal discipline and debt sustainability,” the Ministry stated. With these measures firmly in place, the government aims to maintain trust in Ghana’s financial system and chart a path toward long-term economic stability. Source: Apexnewsgh.com

The Securities and Exchange Commission (SEC) has announced plans to fast-track the development of regulatory guidelines for forex trading in Ghana, a sector contributing to the estimated $6.6 trillion traded globally each day. The initiative aims to enhance transparency, protect investors, and boost confidence in the country’s financial system. According to the SEC, these efforts are part of a broader strategy to deepen Ghana’s financial markets, align with international best practices, and safeguard economic stability. During a recent engagement with the Ghana Journalists Association, Mensah Thompson, Acting Deputy Director-General of the SEC, revealed that work on the regulatory framework is already underway. “We are currently developing the guidelines on forex trading and so very soon are going to regulate and license forex traders in this country,” Thompson disclosed. In addition, the Commission is streamlining the process of verifying licensed investment companies, introducing a short code system to help the public easily identify legitimate firms and avoid falling victim to fraudulent schemes. “The purpose of the short code is for easy verification of licensed operators,” Thompson explained. Albert Dwumfour, President of the Ghana Journalists Association, commended the SEC’s proactive steps and highlighted the importance of collaboration between regulators and the media to promote financial literacy and protect investors. “We acknowledge the critical work of the Securities and Exchange Commission especially we want to recognize SEC as a crucial pillar of our nation’s economic architecture,” he said. Analysts believe that once the regulatory regime is finalized, it will boost investor confidence, expand participation in forex trading as an asset class, and reduce the risks associated with unregulated operators who have targeted retail traders in recent years. Source: Apexnewsgh.com

Ghanaians are bracing for a mix of changes at the fuel pumps. According to the Chamber of Oil Marketing Companies (COMAC), petrol and liquefied petroleum gas (LPG) are expected to climb slightly, while diesel will see a modest decrease. COMAC’s projections indicate that petrol prices at the pump may rise between 0.39% and 2.71%. LPG, too, is set to increase by 0.15% to 2.34%. In contrast, diesel is forecast to drop marginally by 0.21% to 0.72% starting August 16. What’s behind these shifts? COMAC explains that global petroleum product price trends are mixed, and Ghana’s cedi has experienced a slight depreciation against the US dollar. Each product’s supply and demand dynamics are also playing a role. In a recent statement, COMAC elaborated: “Following the slight dip in crude prices, diesel fell sharply by 5.22%, while petrol and LPG rose marginally by 1.89% and 2.87%, likely due to product-specific demand and supply factors. “For the 1st August 2025 pricing window, based on average exchange rates from July 27th to August 12th, the Ghanaian cedi experienced a slight depreciation against the US dollar. The rate shifted from GHS 10.68 to GHS 10.77, reflecting a 0.87% decline.” During the review period, Brent crude slipped 0.23% to $70.26 a barrel, as higher output from OPEC+ and non-OPEC producers, softer market sentiment, and reduced speculative positions weighed on prices. This environment led to a sharper global drop in diesel prices by 5.22%, while petrol and LPG rose by 1.89% and 2.87% respectively. The weakening cedi, sliding 0.87% from GHS 10.68 to GHS 10.77 per dollar, also nudged import costs higher. Overall, COMAC says the projected adjustments at the pump reflect current global market trends, with minimal increases expected for petrol and LPG in the upcoming pricing window. Source: Apexnewsgh.com

Former Minister of Education, Dr. Yaw Osei Adutwum, has officially joined the contest for the New Patriotic Party’s (NPP) presidential candidacy, picking up nomination forms to vie in the party’s flagbearer election scheduled for January 2026. Dr. Adutwum, who served under former President Nana Addo Dankwa Akufo-Addo and is the current Member of Parliament for Bosomtwe, is positioning himself to lead the NPP into the 2028 general elections. His candidacy marks yet another addition to the growing field of aspirants seeking to steer the party’s future. Renowned for his leadership in educational reform, Dr. Adutwum is particularly celebrated for championing Science, Technology, Engineering, and Mathematics (STEM) development and expanding access to secondary education. His entry into the flagbearer race is expected to spark considerable discussion within party ranks, with many supporters touting his technocratic expertise and accomplishments in public service. Meanwhile, on August 13, more than 490 constituency youth organisers, both substantive and deputy, picked up nomination forms on behalf of Vice President Dr. Mahamudu Bawumia for the same contest. The group described Dr. Bawumia as the candidate best positioned to secure victory for the NPP in the 2028 elections, citing his “exceptional leadership, proven track record, and vision for Ghana’s future” as the basis for their endorsement. Their support follows a strategic meeting held on July 29, 2025, with participation from youth organisers representing constituencies across the country. The NPP’s upcoming flagbearer election promises to be a closely watched and hotly contested affair as the party prepares for its next chapter. Source: Apexnewsgh.com

The Accra Circuit Court has denied bail to Akyenkwaa Nana Kofi Asare, a presenter with Wontumi TV, following his arrest for making on-air comments linking former President John Mahama to the recent military helicopter crash that claimed eight lives. Kofi Asare was apprehended by police on Tuesday, August 12, after airing statements authorities described as unsubstantiated allegations concerning the tragic August 6 crash in the Adansi Akrofoum District of the Ashanti Region. The incident, which resulted in national mourning, has prompted the government to schedule a state funeral for the victims on Friday, August 15. During proceedings on Thursday, the defence team requested bail for Kofi Asare, but the presiding judge refused the application, ordering instead that the accused be remanded into police custody as investigations continue. Speaking to the media after the ruling, Enoch Anhwere Afoakwah, counsel for the accused, condemned the court’s decision, calling it a miscarriage of justice. He indicated the legal team’s intention to challenge the ruling at the High Court. The case has attracted significant public attention, coming at a time when the nation is still reeling from the loss of military personnel in the Adansi Akrofoum crash and preparing for their state funeral. Source: Apexnewsgh.com