Prominent Ghanaian business leader Sir Sam Jonah has come to the defense of Engineers & Planners’ (E&P) acquisition of the Black Volta Gold Project, dismissing claims of political favoritism. According to Sir Jonah, the $100 million deal is a merit-based and commercially viable transaction that showcases a long-overdue transformation in Ghana’s mining sector. Speaking at a ceremony to celebrate the financing agreement between E&P and the ECOWAS Bank for Investment and Development (EBID), Sir Jonah emphasized that the agreement is a legitimate business move, rather than a politically influenced arrangement. He described the moment as “historic” and a “turning point” in Ghana’s decades-long relationship with the mining industry. Sir Jonah praised the deal as the first large-scale, wholly Ghanaian-owned gold mine, calling it a symbol of what is possible when indigenous vision meets execution. He noted that the deal was signed in October 2023 “with no fanfare, no interference, and no backroom dealing,” further reinforcing the argument that the project’s success is grounded in “merit, backed by a strong balance sheet, and grounded in solid business fundamentals.” Sir Jonah, a longtime advocate for Ghanaian ownership of the mining value chain, praised Ibrahim Mahama, the founder of E&P, for his foresight and persistence. Recounting their first meeting in 1998, Sir Jonah revealed that he had advised Mahama to focus on hard rock mining, which he believed held more promise than alluvial gold mining. “You are living out my dream,” Sir Jonah said, commending Mahama for building a company that has earned the respect of the industry. Beyond celebrating the achievement, Sir Jonah used the occasion to push for policy reforms that favor local ownership and long-term national economic transformation. He emphasized that ownership and equity matter, and national pride demands that Ghanaians be at the heart of their mineral wealth. Drawing a comparison with South Africa’s Black Economic Empowerment (BEE) framework, Sir Jonah called on Ghana to create similar conditions for local entrepreneurs to thrive. Ending with a rallying call, Sir Jonah urged stakeholders to view the Black Volta Gold Project not as an isolated win but as a blueprint for national resource empowerment. “Let this be the dawn of a new era… from resource extraction for others to resource empowerment for ourselves,” he declared. Source: Apexnewsgh.com/Ngamegbulam Chidozie Stephen

A heated political dispute has emerged over who deserves credit for Ghana’s recent declaration of commerciality for the Eban and Akoma oil and gas discoveries in the Cape Three Points area of the Western Region. The Deputy Ranking Member on Parliament’s Energy Committee, Collins Adomako, insists that the achievements should be attributed to the Akufo-Addo administration. According to Adomako, the discoveries were made during President Akufo-Addo’s tenure, with Akoma discovered in 2019 and Eban in 2021. The appraisal program for the two fields was approved in July 2022 by the same administration, which also recognized the commercial potential of the fields. “These are not new developments. The Eban and Akoma discoveries, as well as their appraisal, were the direct result of decisions taken by the Akufo-Addo government,” Adomako emphasized. The declaration of commerciality, announced on July 3, 2025, marks a significant milestone in Ghana’s upstream petroleum sector, paving the way for full field development and production. The Eban-1X well contains predominantly oil, while the Akoma-1X well yields gas and condensates, offering flexibility in future development options. As political actors scramble to claim credit, the issue has taken a partisan turn. Adomako argues that crediting the current administration with the success of these discoveries would be historically inaccurate and unfair. The Ministry of Energy has yet to respond to the competing claims. Source: Apexnewsgh.com/Ngamegbulam Chidozie Stephen

Billionaire entrepreneur Elon Musk has announced the formation of a new political party, “The America Party,” following a dramatic fallout with his former ally, US President Donald Trump. Musk made the declaration on his social media platform X, accusing both major political parties of fostering corruption and fiscal irresponsibility. In his post, Musk stated, “When it comes to bankrupting our country with waste & graft, we live in a one-party system, not a democracy. Today, the America Party is formed to give you back your freedom.” This move comes after Musk sharply criticized President Trump’s newly signed domestic policy bill, claiming it would balloon the national deficit.¹ The rift between Musk and Trump appeared to calm briefly last month after Musk deleted critical posts, but tensions reignited as the bill advanced through Congress. Trump officially signed it into law on Friday, prompting Musk to escalate his discontent into political action. Trump dismissed Musk’s new party as “ridiculous” and warned it would only create division, saying, “We have a tremendous success with the Republican Party… starting a third party just adds to confusion.” Despite the skepticism, Musk hinted that the America Party would field candidates in select House and Senate races during the upcoming midterm elections. However, legal filings with the Federal Election Commission are yet to confirm its formal registration. Source: Apexnewsgh.com

The Ghana Private Road Transport Union (GPRTU) and the Chamber of Petroleum Consumers (COPEC) are calling on the government to provide a clear timeline for the implementation and duration of the GH¢1 fuel levy set to take effect on July 16. Apexnewsgh reports While the GPRTU has dropped its initial resistance following stakeholder engagements, it insists that the levy must not become a permanent burden. Abass Imoro, Industrial Relations Officer of GPRTU, pleaded with the government to specify a timeline for the levy, whether it be six months, one year, or a specific date. “We also plead with those in authority to also make sure they come out with a timeline that we are taking this [fuel levy] for 6 months or for 1 year or whichever date they think it will sustain us up to,” he said. Imoro noted that the marginal drop in petrol prices and the slight increase in diesel for the first pricing window of July offer some relief. However, he warned that further hikes could force fare adjustments, emphasizing that drivers need to see tangible benefits from their work. “We are working and we will want to make sure we are making profit out of what we are doing. So when we get to a stage where we see no profit why not, we will start to make sure we also gain something out of what we are doing,” Imoro stated. COPEC is equally firm in its stance, with Executive Secretary Duncan Amoah demanding accountability and a fixed duration for the levy. “This new GH¢1 levy should not be treated as one of those old taxes that we have left on the price build-up forever,” he said. Meanwhile, the Chamber of Oil Marketing Companies says its members are preparing for the rollout but cautioned that the impact on fuel prices remains uncertain due to market volatility. The government is under pressure to provide clarity on the fuel levy, and stakeholders are eagerly awaiting a response. Source: Apexnewsgh,com/Ngamegbulam Chidozie Stephen

The Securities and Exchange Commission (SEC) has issued a strong warning to the public against engaging with two social media-based platforms promoting unlicensed investment products in Ghana. Some media platforms are advertising and promoting unapproved investment schemes that promise high returns at no risk. According to a public notice issued on July 1, 2025, “News GH” is promoting a scheme known as the “Gold AI Rise Platform,” while “Ghana News” is offering an unnamed product with similarly unrealistic promises. The SEC has clarified that these entities are not licensed to operate in the capital market as required by law. The Commission has warned that these activities pose significant risks to the investing public and has assured the public that it is collaborating with law enforcement agencies to clamp down on the people behind these illegal schemes. As part of its regulatory mandate, the SEC continuously monitors the securities industry to protect investors and maintain the integrity of the market. The SEC has urged Ghanaians to exercise extreme caution and avoid dealing with such unregulated platforms. To ensure safety, the public is encouraged to verify the licensing status of any investment company or product by contacting the SEC through its toll-free line, main lines, or email. The SEC reaffirmed its commitment to promoting a fair, efficient, and transparent securities market in Ghana, where investor interests are fully protected. The public notice was issued under sections 3 and 208(c) of the Securities Industry Act, 2016 (Act 929), as amended. Source: Apexnewsgh.com/Ngamegbulam Chidozie Stephen

Ghana’s year-on-year inflation rate for June 2025 has dropped significantly to 13.7 percent, marking the country’s inflation rate has dropped to its lowest level since December 2021. Apexnewsgh reports The latest figures released by the Ghana Statistical Service (GSS) on July 2 show a sharp fall from the 18.4 percent recorded in May, driven largely by easing food prices and a general slowdown in price increases across key consumer categories. According to Government Statistician, Dr. Alhassan Iddrisu, the decline is attributed to a significant reduction in inflationary pressures that have weighed on the economy in recent months. “For the first time in a while, we are recording a month-on-month deflation of 1.2 percent between May and June, suggesting a real and sustained shift in price levels,” Dr. Iddrisu noted during a press briefing in Accra. Food inflation fell by 6.5 percentage points to 16.3 percent, down from 22.8 percent in May, while non-food inflation also eased to 11.4 percent from the previous 14.4 percent. However, regional disparities remain stark, with the Upper West Region recording the highest inflation rate at 32.3 percent, largely driven by rising food and utility costs. In contrast, the Bono Region posted the lowest at 8.4 percent. Dr. Iddrisu called for the use of more localized, granular data in policy planning to help address these regional imbalances and sustain the national disinflationary trend. The consistent decline over the past six months offers a hopeful sign for policymakers and businesses alike, especially as the government targets single-digit inflation by early 2026. The decline in inflation is expected to provide relief to consumers and businesses and could potentially boost economic growth and stability. As the government continues to work towards achieving single-digit inflation, the latest figures offer a positive outlook for the economy. Source: Apexnewsgh,com/Ngamegbulam Chidozie Stephen

The Special Advisor on the 24-Hour Economy, Goosie Tanoh, has emphasized that the newly launched policy initiative is open to public scrutiny and evolving input, describing criticism as vital to its success. Speaking at the official launch of the programme on Wednesday, July 2, Mr. Tanoh said the 24-Hour Economy is a dynamic, science-driven initiative rooted in social democratic values and designed to adapt to the needs of a changing national environment. “We at the secretariat are confident that we will continue to receive constructive criticism and suggestions for further improvement,” Mr. Tanoh said. “Criticism is always welcome. We see the 24-hour programme as a living programme, enriched in science and firm social democratic principles, but flexible enough to respond tactically to a changing environment.” The Special Advisor noted that the initiative’s long-term success will depend on continuous learning, flexibility, and the willingness to revise strategies based on feedback and evolving circumstances. “This is the only way a programme can transform our society in the short, medium, and long term,” Mr. Tanoh added. Mr. Tanoh also la country also praised President John Dramani Mahama’s leadership, describing him as a visionary committed to building a resilient economy anchored in responsible entrepreneurship and inclusive growth. “We can say without a doubt that our President is a true champion of responsible entrepreneurship and national transformation,” he said. “We, as a country, we, as a people, have what it takes to succeed.” The 24-Hour Economy initiative seeks to unlock Ghana’s productivity potential by promoting around-the-clock business activity, increasing employment, and ensuring more efficient use of national infrastructure and resources across sectors. The programme is expected to create a robust platform for job creation, industrial expansion, and economic resilience. By embracing criticism and feedback, the government hopes to refine the initiative and ensure its long-term success. With a focus on responsible entrepreneurship and inclusive growth, the 24-Hour Economy initiative has the potential to transform Ghana’s economy and improve the lives of its citizens. Source: Apexnewsgh.com/Ngamegbulam chidozie Stephen

Consumers in Ghana should prepare for a hike in the prices of plastic products, as the Ghana Plastic Manufacturers’ Association (GPMA) has announced a 7% price increase on all locally manufactured plastic goods, effective July 1, 2025. Apexnewsgh reports In a statement signed by the Association’s President, Ebbo Botwe, the GPMA attributed the price adjustment to the recent implementation of a 5% Excise Tax on locally produced plastic products. The Association noted that the move, while regrettable, has become necessary to cushion manufacturers against the added tax burden imposed by the new government policy. The GPMA has urged businesses, retailers, and consumers to take note of the adjustment and plan accordingly. According to the Association, the price increase is unavoidable, given the current economic conditions and the rising costs of doing business in Ghana. The announcement comes amid growing concerns about the cost of doing business in the country, particularly within the manufacturing sector. Energy costs, raw material prices, and regulatory fees continue to climb, making it challenging for manufacturers to maintain their prices. As a result, consumers can expect to pay more for plastic products, including packaging materials, household items, and other essentials. The GPMA’s decision highlights the need for stakeholders to adapt to the changing economic landscape and find ways to mitigate the impact of rising costs on their businesses and customers. Source: Apexnewsgh.com/Ngamegbulam Chidozie Stephen