Ghana Breaks Free from Energy Debt Shackles: The Story of a Sector Reborn
When President John Dramani Mahama took office in January 2025, Ghana’s energy sector teetered on the edge of disaster. Years of unpaid bills for gas supplied from the Offshore Cape Three Points (OCTP) field had brought the sector to its knees, and the crucial $500 million World Bank Partial Risk Guarantee (PRG), once a bulwark for investor confidence, had been completely depleted. The stakes were high. The PRG, established back in 2015, had been the foundation for nearly $8 billion in private investment, guaranteeing partners like ENI and Vitol that they would be paid even if Ghana defaulted. Without it, faith in Ghana’s energy landscape was crumbling, and the threat of blackouts and business closures loomed large. But 2025 would prove to be a turning point. In a statement released on January 12, the Ministry of Finance revealed how the Mahama administration, acting with urgency and resolve, set out to rescue the sector. By the close of the year, the government had repaid a staggering $1.47 billion to reset the industry’s fortunes. First, the government moved swiftly to restore Ghana’s credibility on the global stage: it repaid $597.15 million (including interest) drawn from the World Bank guarantee, fully replenishing the facility and signalling to international partners that Ghana meant business. Next, it addressed the mountain of unpaid bills to key gas suppliers. By December 2025, all outstanding invoices to ENI and Vitol—amounting to roughly $480 million—had been settled in full. The government also tackled legacy debts to Independent Power Producers (IPPs), disbursing about $393 million after renegotiating contracts for better value. Among the IPPs paid were: * Karpowership Ghana: $120 million * Cenpower Generation: $59.4 million * Sunon Asogli: $54 million * Early Power: $42 million * Twin City Energy (Amandi): $38 million * AKSA Energy: $30 million * Cenit Energy: $30 million * BXC Company: $10.56 million * Meinergy Technology: $8.82 million No stone was left unturned. The government also opened discussions with upstream partners like Tullow Oil and Jubilee Field partners, agreeing on a roadmap to ensure prompt payment for gas supplies and secure a stable electricity supply to power Ghana’s industries. Already, these efforts have begun to bear fruit. Increased gas production is reducing the country’s dependence on costly liquid fuels, and the Ministry announced that the dark days of runaway energy sector debt are gone for good. With robust budgetary provisions in place, Ghana’s energy sector now stands on a foundation of timely payments, restored confidence, and renewed hope for the future. Source: Apexnewsgh.com
CSPF Voices Discontent Over 2026 Pension Increment
On a brisk morning in Accra, members of the Concerned SSNIT Pensioners Forum (CSPF) gathered, their faces etched with concern. News had just broken that the Social Security and National Insurance Trust (SSNIT) would increase pensions by 10 percent in 2026. For many, this announcement was far from the relief they had hoped for. “We expected more,” said one forum member, echoing the collective sentiment. The CSPF argued that the increment fell short, failing to counter the steady erosion of pension values brought on by persistent inflation. Every year, pensioners watched as their incomes lagged behind the national minimum wage, and this latest adjustment, they felt, would do little to bridge that widening gap. Months before, the forum had formally proposed a more ambitious plan: a minimum monthly pension of GH¢600 and a general increase of 15 to 20 percent to help restore real value to their payments. Their hopes were dashed when SSNIT’s announcement came in at just half their suggested rate. To make matters worse, CSPF members questioned what they saw as inconsistencies in SSNIT’s communication. A statement issued on January 6, 2025, had pegged the minimum monthly pension for the year at GH¢396.58. This, CSPF argued, highlighted a lack of clarity in how the figures were calculated and communicated to pensioners. Amidst the frustration, the forum called for unity and action. They urged a national dialogue to establish a sustainable pension framework, one that would guarantee retirees a life of dignity and security in their later years. Until such changes come, the CSPF remains steadfast, their voices raised in hope for a fairer future. Source: Apexnewsgh.com
Dr. Mark Kurt Nawaane Empowers Nabdam Farmers with New Cooperatives, Seed Funding, and Fertilizer Support
The Nabdam constituency was alive with excitement as Dr. Mark Kurt Nawaane, the Member of Parliament, inaugurated 19 newly formed cooperative farmers groups. The event marked a fresh chapter for local agriculture, promising unity, resources, and a renewed sense of purpose for farmers across the district. Before gathering the farmers for the main engagement, Dr. Nawaane took a significant step by facilitating the opening of a group bank account for the cooperatives. Demonstrating his commitment, he deposited GHC 50,000 as seed money into the account and further promised to support the groups with 190 bags of fertilizer, ensuring each cooperative had a solid foundation to launch their activities. During the inauguration, Dr. Nawaane addressed the farmers with a heartfelt speech that underscored the importance of collaboration. He explained that, while he had previously assisted individual farmers, the new approach under the leadership of President John Dramani Mahama’s government emphasized group organization for greater impact. “In the past, many small and scattered farmers’ groups made it difficult to distribute support fairly and efficiently,” Dr. Nawaane recounted. “This time, we decided to form area-based groups, neighbors working with neighbors, making it easier to share information and coordinate activities.” He encouraged the cooperatives to embrace this new structure, assuring them that a coordinator and temporary leaders would help guide their efforts. With the groups now formally registered, Dr. Nawaane stressed that the extent of assistance they would receive depended on their own initiative and collaboration. “You have your seed money in the Rural Bank in Nabdam. The kind of support you get will depend on your discussions, your ideas, and your willingness to work together,” he said. Dr. Nawaane advised the groups to hold regular meetings, register new members, and keep their operations open and inclusive. He suggested modest contributions from members to supplement the seed funding and reminded everyone that lasting progress is built on collective effort rather than waiting for large, infrequent handouts. “Always remember that God helps those who help themselves,” he reminded the crowd. The MP also touched on the economic realities of the district, citing a study by the Ghana Statistical Service that placed Nabdam at the highest poverty level in the region with a 68.6% multidimensional poverty index. “Should we continue to sit down and say that because we are poor, we do nothing? No. That is why I’ve identified farming as the area where, if we work hard and support each other, we can change our destiny.” Dr. Nawaane concluded by encouraging the groups to bring forward their concerns and ideas, assuring them of his ongoing support and the potential for greater assistance from banks and government programs. He praised the achievements of local farmers, noting that some were already among the best in the district, and expressed confidence that with unity and determination, Nabdam’s farmers could transform their fortunes. With the official inauguration complete and resources in place, the 19 cooperative groups are set to begin a new journey, one fueled by teamwork, practical support, and the shared vision of a more prosperous farming community. During the inauguration of the new farmers’ cooperative groups in the Nabdam District, the District Director of Agriculture, Mr. Rasheed Imoro, delivered an insightful address that highlighted both the challenges and the opportunities facing local agriculture. Drawing from recent surveys and development strategies, Mr. Imoro emphasized that poverty and hunger in the district were not just matters of food scarcity, but also linked to how communities approached development. He urged everyone to adopt a “SWORD analysis,” to examine their strengths and weaknesses and build upon them. “Our strength in Nabdam is agriculture,” Mr. Imoro noted, “yet, despite the majority of our people being involved in farming, we remain poor. The reason is simple: we have been working as individuals, each in our own corner.” Mr. Imoro praised Dr. Mark Kurt Nawaane, the Member of Parliament, for his hands-on efforts to support farmers. He shared that Dr. Nawaane’s willingness to make his tractor available for plowing, often at great personal effort, was a rare and commendable gesture in the region. “Our soil here is hard, and without tractors, it’s nearly impossible to prepare the land after the rains. The MP’s support means a lot to our community,” he said. Turning to the future, Mr. Imoro explained that government policies, such as the Feed Ghana program introduced by President John Dramani Mahama, were designed to transform agriculture with subsidies, mechanization, and new markets. However, he stressed that these benefits were most accessible to those organized in groups. “If you are in a group, you can access loans, set market prices for your produce, and have your voice heard, not just in Nabdam, but across the whole country,” he explained. He outlined how small farmer-based organizations (FBOs) could combine to form even stronger cooperatives, echoing Dr. Nawaane’s vision for area-based groups. “A group should have a minimum of 15 and a maximum of 40 members,” he advised, “with clear leadership and an active, workable bank account.” Mr. Imoro applauded Dr. Nawaane for providing seed money to register the cooperatives and open their accounts. He explained the importance of these accounts, not just for receiving funds, but also to show potential supporters, such as those who might drill boreholes for dry-season farming, that the group is financially responsible and sustainable. He encouraged members to make regular contributions, even as little as five cedis a week, to grow their collective resources. “I’ve seen groups elsewhere with as much as GHC 200,000 in their accounts. This is the way forward,” he said. Concluding his remarks, Mr. Imoro expressed gratitude for the focused efforts of both the MP and the district executive on uplifting agriculture in Nabdam. “I am 100% in support of these initiatives,” he declared. “My doors are always open. If you need anything related to agriculture, come to our office. We are here to help.” With his practical advice and endorsement, Mr. Imoro’s speech reinforced the message that cooperation and collective action are
BoG Governor Announces Policy Workshop to Strengthen Domestic Gold Purchase Programme
At the 77th Annual New Year School held at the University of Ghana on Tuesday, January 6, the Governor of the Bank of Ghana (BoG), Dr. Johnson Asiama, outlined a forward-looking strategy to enhance the country’s Domestic Gold Purchase Programme (DGPP). Addressing a diverse audience of experts, policymakers, and practitioners, Dr. Asiama revealed that the Central Bank, in collaboration with GoldBod and the Ministry of Finance, will soon organise a targeted policy workshop. The aim is to assess and refine the DGPP, drawing on global best practices to ensure the programme’s continued relevance and effectiveness. Dr. Asiama explained that the DGPP was launched at a time of considerable economic strain, but has since played a pivotal role in restoring confidence in Ghana’s economic outlook. “Arguably, the institutional role of the GoldBod has strengthened coordination across the value chain, while the introduction of a gold FX auction mechanism has enabled more structured and transparent intermediation of gold-related foreign exchange flows,” he noted. Looking ahead, Dr. Asiama called for the G4R programme to be firmly anchored within the broader framework of the Government of Ghana, emphasizing that responsibility for its sustainability should be shared across various institutions. He urged for informed debate, evidence-based analysis, and diverse perspectives on the DGPP, highlighting its status as a national priority. The planned workshop is set to bring together leading minds to chart a sustainable path for Ghana’s gold sector, ensuring that the DGPP continues to serve the country’s economic needs in line with international standards. Source: Apexnewsgh.com
Ghana Revenue Authority Announces Sweeping VAT Reforms Under New Law
Sweeping changes are on the horizon for Ghana’s Value Added Tax (VAT) system, following the passage of the Value Added Tax Act, 2025 (Act 1151), which will come into force on January 1, 2026. The Ghana Revenue Authority (GRA) announced the reforms in a notice to VAT-registered taxpayers and the public, promising a new era of simplicity, equity, and efficiency in tax administration. According to the GRA, the new law introduces a host of measures designed to ease the tax burden on businesses and households while boosting compliance. Among the most notable changes is a significant increase in the VAT registration threshold for businesses dealing in goods, from GHS 200,000 to GHS 750,000. This move is expected to bring substantial relief to micro and small-scale enterprises, reducing their compliance burden and freeing them from VAT obligations. In a further effort to streamline the tax regime, the Act abolishes the COVID-19 Health Recovery Levy, eliminating an extra cost that had been introduced during the pandemic era. The National Health Insurance Levy (NHIL) and the Ghana Education Trust Fund (GETFund) levy have also been re-coupled, meaning businesses can now claim input tax credits on these levies. By treating both NHIL and GETFund as deductible input taxes, the GRA aims to enhance fairness and transparency throughout the VAT system. A major highlight of the reforms is a reduction of the VAT rate to 20 percent, a measure specifically intended to lighten the load for households and businesses and stimulate economic activity. The VAT Flat Rate Scheme (VFRS) has also been abolished, paving the way for a unified VAT structure that the Authority says will be more transparent and easier to administer. The GRA emphasized that these reforms are designed to simplify the VAT system, promote equity, improve administrative efficiency, and encourage voluntary compliance. Taxpayers and professionals, including employers, accountants, auditors, importers, exporters, clearing agents, and tax consultants, are urged to familiarize themselves with the new provisions ahead of implementation in January 2026. For further information, the Authority advised the public to consult their nearest Taxpayer Service Centre or reach out via the GRA’s toll-free lines, WhatsApp platforms, or official email channels. Reaffirming its dedication to integrity, fairness, and service, the GRA underscored that these reforms are part of broader efforts to strengthen domestic revenue mobilisation in support of national development, under the theme “Our Taxes, Our Future. Source: Apexnewsgh.com
The Chief Executive Officer of the Ghana Gold Board Sets the Record Straight: No Losses, Only Surpluses in 2025
The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, has taken the stage to address swirling allegations about the institution’s finances. The rumors were damning, claims that GoldBod had suffered a colossal US$214 million deficit. But Mr. Gyamfi was resolute in his response, labeling the allegations inaccurate and misleading. With clarity, he explained that GoldBod, established in April 2025, was not a profit-driven public institution. Instead, it was designed to declare surpluses. He revealed that, according to the unaudited management accounts, GoldBod recorded an impressive revenue of over GHS960 million in 2025, while keeping total expenditures below GHS20 million. The numbers told a different story than the rumors suggested; far from a deficit, GoldBod was on track to post a substantial surplus—estimated between GHS700 million and GHS800 million for the year. As the conversation dug deeper, Mr. Gyamfi addressed another claim: that any potential losses from the Gold-for-Reserves programme had been quietly transferred to the Bank of Ghana’s books. He dismissed this idea as illogical, pointing out that the Gold-for-Reserves scheme was started by the Bank of Ghana in 2022 and all related transactions were always recorded by the central bank, not by GoldBod. Mr. Gyamfi traced the roots of GoldBod, noting that it inherited its structures from the former Precious Minerals Marketing Company (PMMC) and underwent necessary reforms to ensure transparency. Despite the transition, he emphasized that every Cedi received from the Bank of Ghana had been fully accounted for, with the equivalent value delivered in gold and only approved agency fees earned in the process. To put any lingering doubts to rest, Mr. Gyamfi concluded by announcing that an external audit by the Auditor-General was already underway and expected to be completed in the first quarter of 2026. The results, he promised, would publicly confirm GoldBod’s financial performance and set the record straight once and for all. Source: Apexnewsgh.com
MTN Ghana Spreads Christmas Joy to New Mothers in Upper East Region
On Boxing Day, the Office of the Upper East branch of MTN Ghana, the country’s leading telecommunications provider, brought smiles to the faces of nursing mothers and their newborns at War Memorial Hospital in Navrongo Municipality and Bolgatanga Regional Hospital. In a heartwarming gesture, the company distributed assorted items, including towels, diapers, blankets, toiletries, clothing, soap, and other essential baby necessities to the mothers of 28 babies born on Christmas Day. This annual act of kindness is a cherished tradition for MTN Ghana. Every December 26th, staff don their bright MTN-branded T-shirts and visit hospitals across the country, sharing essential items with new mothers to help them care for their little ones. The initiative is part of the company’s commitment to supporting communities and making a positive impact where it matters most. Madam Anisa Abdulai, the Senior Midwifery Officer in charge at the Regional Hospital’s maternity ward, expressed her deep appreciation for the gesture. “It is always a delight to see organizations like MTN Ghana showing love and care to our mothers and babies,” she remarked, noting that among the 16 mothers at the ward, one had delivered twin boys. Madam Abdulai also took the opportunity to appeal for continued and increased support from corporate organizations. The atmosphere at the hospitals was filled with excitement as MTN staff handed out the gifts, sharing laughter and warm wishes with the mothers. For many, the gesture was not just about the items received, but a reminder that they and their children are cherished and remembered during this special season. Source: Apexnewsgh.com/Ngamegbulam Chidozie Stephen
GIPC Reaffirms Commitment to Retail Sector Transformation Under 24-Hour Economy Initiative
The Ghana Investment Promotion Centre (GIPC) has reiterated the government’s unwavering commitment to revitalizing the country’s retail trading sector through the ambitious 24-Hour Economy initiative. Addressing the Ghana Union of Traders Association (GUTA) National Quadrennial Conference, GIPC CEO Mr. Simon Madjie underscored the vital role traders play in Ghana’s national development. He highlighted President John Dramani Mahama’s strong support for expanding the retail sector, describing it as a key strategy for economic diversification, job creation, and fostering inclusive growth. Mr. Madjie commended GUTA members for their resilience and their significant contributions to the economy. He reaffirmed GIPC’s readiness to work hand in hand with the association to unlock new investment opportunities that will benefit traders and the nation at large. The GUTA conference, held every four years, brought together representatives from all 16 regions of Ghana. The gathering concluded with the election of Clement Boateng as the new GUTA President, marking a new chapter in the association’s leadership. Source: Apexnewsgh.com
Made-in-Ghana Elegance: GoldBod Jewellery Introduces Holiday Collection
GoldBod Jewellery has ushered in the holiday spirit with the launch of its Christmas and New Year collections, dazzling customers with a stunning array of locally crafted gold pieces tailored for the festive season. The new catalogue boasts an elegant selection of chokers, necklaces, earrings, matching bangles, and rings, granting customers the perfect opportunity to celebrate the holidays with authentic, made-in-Ghana jewellery for themselves and their loved ones. A subsidiary of the Ghana Gold Board, GoldBod Jewellery has established itself as a key player in Ghana’s drive to add value to its gold resources. Originally incorporated in 2016, the jewellery arm recently underwent a strategic restructuring and rebranding, enhancing its capacity to deliver high-quality, locally manufactured ornaments. This rebranding initiative is part of a broader effort to boost the patronage of Ghanaian-made jewellery, reduce dependence on imports, and fortify the country’s local manufacturing base within the gold industry. Source: Apexnewsgh.com
Energy Minister Warns Agency Heads: Deliver Results or Face Removal
The Minister for Energy and Green Transition, Dr. John Abdulai Jinapor, has issued a stern warning to heads of agencies and senior managers within the energy sector, making it clear that underperformance will not be tolerated and could lead to removal from office. Speaking at the Ministry’s performance review retreat, Dr. Jinapor stressed that President John Dramani Mahama expects tangible results from public sector leaders. “Underperformance will not be tolerated. Heads of agencies and senior management who fail to meet agreed targets or deliver key projects will be removed,” the Minister declared. Dr. Jinapor described public office as a privilege that demands discipline, professionalism, and accountability. He urged agency leaders to approach the retreat with renewed seriousness and commitment to achieving measurable outcomes. “This is not a threat; it is a call to seriousness, discipline and results-oriented leadership,” he emphasized. Looking ahead to 2026, the Minister challenged agencies to shift from excessive planning to practical execution and to embrace strategies that are realistic, measurable, and aligned with national development priorities. “We must move from plans to execution, from excuses to solutions, and from fragmented efforts to unified action,” Dr. Jinapor stated. According to the Ministry, the performance review retreat aims to assess progress, identify gaps, and strengthen coordination within the energy sector to advance Ghana’s economic growth and green transition agenda. Source: Apexnewsgh.com