President Mahama Introduces Whistleblower Incentive to Combat Gold Smuggling
President John Dramani Mahama has announced a financial incentive for whistleblowers who provide credible information leading to the recovery of illegally traded gold or its cash equivalent. Speaking at the official inauguration of the Ghana Gold Board (GoldBod) Taskforce, President Mahama said informants will be entitled to 10% of the value of any seized assets. The launch of the GoldBod Taskforce marks a bold step toward safeguarding the country’s natural resources. President Mahama emphasized that the taskforce will play a crucial role in combating gold smuggling and ensuring that Ghana’s gold resources are utilized for the benefit of its citizens. The president’s announcement is aimed at encouraging individuals with information about gold smuggling to come forward. By offering a financial reward, the government hopes to gather intelligence that will lead to the recovery of illegally traded gold and its cash equivalent. This initiative is expected to be a significant deterrent to those involved in illicit gold trading. The Ghana Gold Board Taskforce was inaugurated at the National Security Secretariat in Accra. The taskforce is expected to work tirelessly to identify and prosecute individuals and organizations involved in gold smuggling. President Mahama’s announcement underscores the government’s commitment to protecting the country’s natural resources and promoting transparency in the gold industry. Source: Apexnewsgh.com/Ngamegbulam Chidozie Stephen
Ghana’s Finance Minister Reveals Shocking Gold Smuggling Figures
Ghana’s Minister for Finance, Dr. Cassiel Ato Forson, has made a startling revelation about the scale of gold smuggling in the country. According to Dr. Forson, 60 tonnes of gold, worth an estimated $1.2 billion, were smuggled out of Ghana at the height of the economic crisis in 2022. This amount is nearly half of the $3 billion bailout Ghana sought from the International Monetary Fund (IMF) to stabilize the economy. Dr. Forson lamented that smuggling operations have deprived the country of much-needed foreign exchange and development resources. “This nation-wrecking act has gone on for far too long, and the consequences have been very dire,” he stated. He emphasized that the value of the smuggled gold could have made a significant difference in Ghana’s economic situation. The Finance Minister underscored the urgency for bold action, calling for firm and decisive measures against those sabotaging Ghana’s economy. “It is time for us to be decisive and ruthless towards those who are sabotaging the economy of Ghana. Ghanaians deserve better,” he declared. He expressed hope that curbing smuggling would allow the country to regain control over its gold resources and ensure maximum benefit for its citizens. Dr. Forson also pledged his support for the Ghana Gold Board, which he said has shown impressive progress in the first half of the year. “Defeating the gold smuggling syndicate will place our country firmly in control of our gold resources,” he noted. He added that the recent inauguration of a special task force to combat smuggling would enhance efforts to tackle the problem and recover lost revenue. The Finance Minister referenced the estimated 600 tonnes of gold believed to have been smuggled over the past decade, worth around $12 billion. “Imagine $12 billion translating into foreign exchange and supporting Ghana’s reserves position,” he wrote. This staggering amount highlights the severity of the problem and the need for immediate action. Source: Apexnewsgh.com/Ngamegbulam Chidozie Stephen
Deputy Minister Genfi Pledges Commitment to DIHOC Mandate
Deputy Minister for Defence, Mr. Ernest Brogya Genfi, has expressed deep appreciation for his appointment as Chairman of the Board of Directors of the Defence Industries Holding Company Limited (DIHOC). In a statement following the inauguration of the new DIHOC Board, Mr. Genfi pledged unwavering commitment to the mandate entrusted to him. Mr. Genfi extended heartfelt gratitude to His Excellency John Dramani Mahama, Commander-in-Chief of the Ghana Armed Forces, for the confidence reposed in him to lead the strategic institution. “I would like to express my sincere gratitude to His Excellency President John Dramani Mahama for entrusting me with this critical responsibility,” Mr. Genfi said. “I am committed to working tirelessly with my colleague board members to take DIHOC to new and greater heights.” Mr. Genfi also thanked Defence Minister Dr. Edward Omane Boamah for recommending him for the role, describing the gesture as a vote of confidence he does not take lightly. He pledged to help steer DIHOC toward initiatives that are sustainable and far-reaching, echoing the Minister’s call during the swearing-in ceremony. “As Dr. Omane Boamah emphasised, we must ’embark on projects that will be sustained beyond your tenure of office’, we will do just that and even more,” he affirmed. Mr. Genfi further pledged to uphold the highest standards of integrity, transparency, and accountability in the execution of his duties, noting that the work ahead is crucial to Ghana’s security and economic development. The newly constituted DIHOC Board is expected to drive the establishment of a Defence Industrial Complex (DIC) and contribute significantly to Ghana’s industrialization and job creation agenda. Source: Apexnewsgh.com/Ngamegbulam Chidozie Stephen
GIPC Reaffirms Commitment to Supporting Investors
The Ghana Investment Promotion Centre (GIPC) has reaffirmed its commitment to supporting investors through its Aftercare Division, a key mechanism for post-establishment assistance. The assurance was given by the Chief Executive Officer of GIPC, Mr. Simon Madjie, during a meeting with the new Managing Director of Mantrac Ghana Ltd., Mr. Pierre Hill, at the Centre’s office in Accra. Mr. Hill, who recently assumed leadership at Mantrac Ghana, emphasized the company’s long-standing investment in the country, with a workforce of over 1,000 employees. He highlighted the need for strengthened collaboration with government institutions to resolve operational challenges and ensure business continuity. Mr. Madjie acknowledged the company’s significant contribution to Ghana’s industrial and economic development and reiterated the Centre’s readiness to support investors beyond the initial entry phase. Mr. Madjie noted that GIPC’s Aftercare Division plays a crucial role in helping companies navigate regulatory processes and address operational issues. The division provides post-establishment assistance to investors, ensuring that they receive the necessary support to thrive in Ghana’s business environment. Mr. Madjie also referenced ongoing efforts to review Ghana’s investment legislation, including the introduction of a proposed Investor Grievance Mechanism. This initiative aims to provide a framework for addressing investor concerns and promoting a more favorable business environment. The meeting between GIPC and Mantrac Ghana Ltd. demonstrates the Centre’s commitment to supporting investors and promoting a conducive business environment in Ghana. By providing aftercare services and collaborating with government institutions, GIPC aims to ensure that investors receive the necessary support to succeed in the country. Source: Apexnewsgh.com/Ngamegbulam Chidozie Stephen
Ghana Makes Timely Eurobond Payment
The Government of Ghana has successfully fulfilled its Eurobond debt service commitments for 2025 with the payment of US$349.52 million on Thursday, July 3, 2025. This latest instalment brings the total Eurobond debt service payments for 2025 to US$699.04 million, following two earlier payments of equal value in January and July. The Ministry of Finance emphasized that the timely payment underscores the government’s commitment to macroeconomic stability, prudent debt management, and ongoing cooperation with external creditors. Ghana had previously made an initial payment of US$475.60 million in October 2024, shortly after concluding a comprehensive Eurobond debt restructuring deal. In total, Ghana has now serviced US$1.17 billion in Eurobond payments since the restructuring, bringing it fully up to date on all scheduled debt obligations for the year. This achievement demonstrates the government’s dedication to meeting its debt obligations and maintaining fiscal discipline. The Ministry of Finance expects this latest payment to have a positive impact on Ghana’s credit rating outlook, reinforcing its post-restructuring fiscal discipline and strengthening investor confidence in the country’s sovereign creditworthiness and economic recovery programme. Additionally, the payment is expected to support stability in the foreign exchange market, with the payment integrated into the Bank of Ghana’s reserves and liquidity management framework. Ghana is scheduled to service US$1.41 billion in Eurobond debt in 2026. The government remains committed to meeting all future debt obligations as part of its broader economic recovery and reform agenda. This commitment to debt management and fiscal responsibility is expected to contribute to Ghana’s economic stability and growth.
IMF Approves $370 Million Disbursement for Ghana, Endorses Economic Reforms
Ghana’s economic recovery efforts received a major boost today as the Executive Board of the International Monetary Fund (IMF) approved the country’s fourth review under the $3 billion Extended Credit Facility (ECF) programme, clearing the way for an immediate $370 million disbursement. The decision signals strong international confidence in Ghana’s fiscal reforms and marks a crucial milestone in the government’s push to restore macroeconomic stability. In a statement following the approval, Finance Minister Dr. Casiel Ato Forson hailed the development as a “decisive step forward” in Ghana’s economic revival. “This landmark approval validates Ghana’s unwavering commitment to fiscal discipline and strategic economic transformation,” he said. “Our comprehensive macroeconomic policies and carefully crafted structural reforms are delivering real results that the international community recognises and supports.” The latest disbursement brings Ghana closer to achieving the objectives of the three-year ECF programme, designed to restore debt sustainability, strengthen public finances, and promote inclusive growth. Since the programme’s inception, Ghana has implemented tough but necessary measures, including: Fiscal consolidation to reduce deficits and control debt Revenue mobilization reforms to broaden the tax base Structural adjustments to improve public financial management Social protection programmes to cushion vulnerable citizens The IMF’s continued support reflects growing optimism that these policies are stabilizing the economy and setting the stage for long-term resilience. Source: Apexnewsgh.com/Ngamegbulam Chidozie Stephen
Fire Incidents Rise Slightly in First Half of 2025 – GNFS Reports Gains in Safety Efforts
The Ghana National Fire Service (GNFS) has reported a marginal increase in fire incidents across the country in the first half of 2025, despite key improvements in public safety, including a sharp decline in prank calls, marking significant progress. According to the latest data, Ghana recorded 3,595 fire outbreaks between January and June 2025, a slight rise of just 19 cases (0.53%) compared to the same period in 2024. Despite this uptick, firefighters successfully salvaged over GHS 203 million worth of property, demonstrating the impact of rapid emergency responses. One of the most notable successes was a 34.77% decrease in prank calls to the GNFS emergency lines. The number of false alarms fell from 364,020 in early 2024 to 237,470 in 2025—a trend the Service attributes to public education campaigns and stricter enforcement against misuse of emergency numbers. “These efforts are clearly paying off,” a GNFS spokesperson said. “Reducing prank calls means our lines stay open for real emergencies, saving lives and property.” The leading causes of fires remained consistent with previous years, including: Electrical faults from illegal connections, poor wiring, and overloaded circuits. Unattended cooking, especially with gas and electric stoves. Careless use of flames (candles, mosquito coils, lighters). Bushfires worsened by dry harmattan conditions. Gas leakages and improper handling of LPG cylinders. Vehicle fires due to poor maintenance and accidents. Arson and unsafe welding practices. The Greater Accra Region recorded the highest number of fires (628 cases), followed by Ashanti (581) and Central (408). The North East Region had the fewest incidents, with just 10 cases. The Service linked the slight rise in fires to harmattan conditions and public non-compliance with safety measures. With another dry season approaching, the GNFS is urging Ghanaians to avoid risky behaviors and follow fire prevention guidelines. “Every small action turning off appliances, checking gas leaks, avoiding bush burning—can prevent disasters,” the GNFS emphasized. “Let’s work together to keep Ghana safe.” #FireSafety #StopPrankCalls #GhanaFireService Source: Apexnewsgh.com/Ngamegbulam Chidozie Stephen
CDD-Ghana Urges Media and Civil Society to Resist Democracy Capture in Africa
Under the theme “Resisting Capture and Strengthening Democratic Resilience in Africa,” the Ghana Centre for Democratic Development (CDD-Ghana) launched its groundbreaking Democracy Capture Index (DEMCAP Index), calling on media and civil society organizations to stand firm against the rising threat of democracy capture on the continent. The event, held in Accra, brought together governance experts, activists, and policymakers to examine the vulnerabilities in Africa’s democratic systems and strategize against undue influence by powerful interests. Speaking at the sidelines of the launch, Dr. John Osae-Kwapong, Democracy and Development Fellow at CDD-Ghana, noted that while civil society and media institutions currently show resilience against democracy capture, they remain at risk. “When asked about their vulnerability to future capture, these institutions, especially the media ranked high,” he said. “In Ghana, when public debates become deeply polarized, we rely on these institutions to mediate and refocus the nation on critical priorities. Their independence must be safeguarded.” Dr. Kojo Asante, CDD-Ghana’s Director for Policy Engagement and Partnerships, emphasized the importance of the DEMCAP Index as a strategic tool in rebuilding democratic values. “This report is part of a deliberate intervention to counter democratic decline, strengthen resilience, and reimagine Africa’s democratic future,” he stated. The DEMCAP Index is designed to identify systemic weaknesses that allow powerful groups to manipulate democratic processes, distort governance, and erode public trust. By exposing these risks, CDD-Ghana hopes to drive reforms and encourage stronger collaboration among pro-democracy actors. As Africa faces growing pressures from political and economic elites seeking to undermine democratic institutions, CDD-Ghana’s message is clear: The media and civil society must remain vigilant, independent, and unyielding in the fight to protect democracy. The launch of the DEMCAP Index marks a crucial step in this battle,equipping stakeholders with the knowledge and tools needed to resist capture and defend the continent’s democratic future. Source: Apexnewsgh.com/Ngamegbulam Chidozie Stephen