Why Upper East Residents Must Drive Development Beyond Government Interventions
The Upper East Region of Ghana, despite its immense potential, continues to lag in development, a situation that, according to Ngamegbulam Chidozie Stephen, Editor-in-Chief of Apexnewsgh, can be traced to an overreliance on government intervention and a lack of proactive citizen involvement. In his candid opinion, Mr. Ngamegbulam challenges residents to shift their mindset from waiting for politicians and government officials to take action to becoming active participants in the region’s progress. The Journalist observes that most developmental projects in the Upper East Region are the result of government interventions, often financed through public funds such as the Common Fund, GETFund, or NHIA. Rarely, he notes, do you find projects initiated and funded by individual citizens or local philanthropists. “It will be hard for you to go to a constituency and trace what even our politicians have done with their pocket money,” he asserts, highlighting a culture where even affluent residents refrain from using their resources for community development. He points out that this attitude has become deeply ingrained in the region. Despite the presence of wealthy individuals, most residents prefer to wait for politicians to take the initiative, resulting in a cycle where only Members of Parliament and District Chief Executives are recognized for developmental achievements. As he puts it, “Why always politicians? Why always hoping for these politicians?” Mr. Ngamegbulam further illustrates his point with examples across various constituencies, including Talensi, Bolga Central, Bongo, and Nabdam. In all these areas, development is typically credited to MPs or political office holders, while other well-resourced individuals remain passive. This, according to him, stifles the region’s progress and perpetuates underdevelopment. However, the region has seen glimpses of what citizen-led development can achieve. Mr. Ngamegbulam cites the Vea community, which came together to build a bridge through communal effort, as a model for others to emulate. He also lauds the Alagumgube group, which spearheaded the establishment of a regional passport office in Bolgatanga. Although government support was eventually necessary, the initiative began with the group’s own resources and determination, demonstrating the impact collective action can have. The ongoing discussions about constructing an airport in the region further reinforce his argument. The Alagumgbe group did not wait for the government to act; instead, they began preliminary work, clearing the site and drawing public attention. Their initiative has pressured the government to take the project seriously, proving once again that citizen action can catalyze development where political promises have stalled. Mr. Ngamegbulam concludes by emphasizing that the spirit of community initiative is essential for the region’s advancement. He challenges residents to move beyond waiting for the government or using development as a political tool. “If such spirit is alleviated in the region, I bet you that the Upper East Region will be a very developed region,” he asserts. He laments that the region still lacks basic infrastructure, such as a stadium, and warns that continual passivity will only prolong underdevelopment. “If we continue to hope only on politicians to bring development, the region will continue to be underdeveloped as far as the Upper East is concerned,” he says. Source: Apexnewsgh.com
BoG and SEC Roll Out Bold Digital Finance Reforms to Position Ghana as Africa’s Fintech Leader
Ghana is taking decisive steps to strengthen its place in Africa’s growing digital economy, as the Bank of Ghana (BoG) and the Securities and Exchange Commission (SEC) unveiled major reforms aimed at transforming the country into a leading digital finance hub on the continent. The announcements were made during the 3i Africa Summit, where policymakers and financial industry leaders outlined plans to improve instant payment systems, regulate virtual assets, and tighten controls within the fintech lending space. Delivering closing remarks at the summit, the First Deputy Governor of the Bank of Ghana, Dr. Zakari Mumuni, stressed that Africa’s next financial breakthrough will depend on how effectively countries connect their payment systems across borders. According to him, many African countries have already built successful mobile money and digital payment platforms, but the lack of integration between national systems continues to slow down the continent’s digital trade ambitions. Dr. Mumuni explained that the challenge facing Africa is no longer about creating new financial innovations, but rather scaling existing systems to work seamlessly together. He noted that harmonized standards and interconnected payment infrastructure would make it easier for money to move freely across African borders. He cautioned that without deliberate collaboration among African nations, the dream of a unified digital market could remain unattainable. He further urged leaders and regulators to focus on building interconnected systems instead of isolated financial structures. Meanwhile, the Securities and Exchange Commission has moved to formalize Ghana’s virtual asset industry with the introduction of a regulatory sandbox framework for Virtual Asset Service Providers (VASPs). The SEC said the initiative, established under the Virtual Asset Service Providers Act, 2025 (Act 1154), will allow companies operating in the virtual asset space to test innovative products and services under regulatory supervision for a period of 12 months. The Commission explained that the sandbox arrangement is intended to promote responsible innovation while ensuring investor protection and maintaining market integrity. Companies that successfully meet the regulatory requirements during the testing phase may eventually receive full operational licenses. In another significant move, the Bank of Ghana also announced plans to strengthen credit risk management within the fintech sector through mandatory data sharing among financial technology companies. The central bank believes the initiative will help reduce the activities of habitual loan defaulters and lower lending risks by incorporating fintech borrowing data into Ghana’s credit reporting system. Dr. Mumuni emphasized the importance of building financial systems that not only expand access to credit but also promote responsible borrowing and lending practices. Participants at the summit agreed that Africa’s digital finance sector has reached a stage where action and implementation must now take precedence over experimentation and pilot projects. Closing the summit, Dr. Mumuni urged stakeholders to move beyond discussions and commit to practical execution, insisting that the real success of the 3i Africa Summit would be determined by the concrete actions taken after the event. Source: Apexnewsgh.com
Ghana’s Financial Revolution: Making Women’s Ventures ‘Investment-Ready’ for the World
In the bustling markets and roadside stalls across Ghana, millions of women work tirelessly, yet most remain invisible to the formal banking system. But a shift is coming. “Our goal is to ensure these ventures are ‘investment-ready’ for the global stage,” a spokesperson for Chartered recently declared, capturing a growing consensus among financial leaders. Still, the reality of the “unbanked” female entrepreneur is stark. Despite national economic gains, countless women in the informal sector find themselves locked out of traditional loans. Experts argue that until Ghana dismantles its deeply rooted “collateral culture”, which demands physical assets most women don’t possess, many will remain trapped, relying on high-interest informal lenders who circle like vultures. Enter Dr. Elizabeth Zormelo, a fierce advocate for female financial literacy. She doesn’t mince words. “Credit is the fuel, but financial literacy and market access are the engine,” Dr. Zormelo explains, her voice carrying the urgency of someone who has watched too many small businesses flicker and die. “The Women’s Development Bank must be paired with aggressive training to ensure these businesses don’t just survive, but dominate.” Her message arrives at a pivotal moment. The Bank of Ghana is preparing to release new guidelines on gender-disaggregated data reporting,a tool that will finally reveal, in stark numbers, who gets loans and who doesn’t. The message to the financial sector is unmistakable: the future of Ghana’s economic growth is female, and the cost of exclusion is a price this nation can no longer afford to pay. Source: Apexnewsgh.com
Governor Asiama Calls for Stronger Digital Finance Ecosystem at 3i Africa Summit
Bank of Ghana Governor, Dr. Johnson Pandit Asiama, has urged African fintech institutions to move beyond simply increasing access to digital financial services and focus on delivering real value and measurable impact across the continent. Delivering the keynote address at the opening of the 3i Africa Summit held at the Destiny Arena in Accra on May 6, 2026, Dr. Asiama said digital finance is becoming increasingly important in building a resilient and inclusive fintech ecosystem in Africa. According to the Governor, nearly 49 per cent of adults in sub-Saharan Africa now own digital financial accounts, a sign of significant progress in financial inclusion. However, he stressed that the next stage of growth should concentrate on scalability, efficiency, and the meaningful use of financial services rather than just access. Dr. Asiama explained that the future of digital finance would go beyond basic payment systems to include digital credit, embedded finance, supply chain finance, and cross-border financial services. He noted that these innovations must particularly support women, micro, small and medium-sized enterprises (MSMEs), and players within the informal sector. He also highlighted several challenges affecting the growth of Africa’s fintech space, including fragmented markets, high transaction costs, and weak regulatory coordination. To address these issues, the Governor called for stronger collaboration among institutions and improved connectivity across financial systems and markets. The Bank of Ghana Governor further outlined measures being implemented by the central bank to strengthen digital finance in the country. These include the development of a regulatory framework for virtual assets, the issuance of digital credit guidelines, progress toward open banking, and efforts to promote cross-border fintech operations. Source: Apexnewsgh.com
MobileMoney Fintech LTD, MTN Ghana to Lead Fintech Conversations at 3i Africa Summit 2026
MobileMoney Fintech LTD (MMFL) and MTN Ghana will play leading roles at the 2026 edition of the 3i Africa Summit, one of the continent’s foremost gatherings of fintech innovators, policymakers, regulators, and institutional investors. The summit will be held from May 6 to May 8, 2026, at the Destiny Arena in Accra, Ghana, under the theme “The Next Frontier: Shaping Africa’s Integrated FinTech Future.” At the opening of the summit, MTN Group President & CEO Ralph Mupita will take part in a fireside chat on “The Future of Digital Finance in Emerging Markets,” as African economies accelerate investment in digital financial infrastructure. Senior Vice President, MTN Group—WECA, Ebenezer Twum Asante, will also contribute to discussions on how mobile money, embedded finance, and telecom-led ecosystems are expanding access to financial services across Africa and beyond. Shaibu Haruna, CEO of MobileMoney Fintech LTD, will deliver a keynote on “Strengthening Consumer Protection in High-Velocity Credit & Banking Markets,” examining the growing need for robust safeguards as digital credit and mobile banking services scale rapidly across Africa’s emerging markets. Adoma Owusu, General Manager, Fintech Business Development & Expansion, MTN Group Fintech, will join a panel on “Beyond Trading: Creating Real Utility in Africa,” exploring how virtual assets are being applied to address real-world challenges across payments, financing, and service delivery. Beyond the keynotes, Sylvia Otuo Acheampong, Chief Products & Services Officer of MMFL, and Angela Mensah-Poku, Chief Enterprise Business Officer of MTN Ghana, will add further executive leadership to the summit, moderating panel sessions across the three-day programme. Commenting on the summit, Shaibu Haruna, CEO, MobileMoney Fintech LTD, said the event reflects both the continent’s momentum and MMFL’s commitment to responsible, people-centred financial innovation. “Africa is no longer waiting for the world to define its financial future; we are actively building it. At MobileMoney Fintech LTD, we understand that speed and scale in digital finance must always be matched by responsibility. The 3i Africa Summit is exactly the kind of platform where those conversations must happen, and we are proud to be part of shaping that dialogue,” he said. Now in its third year, the 3i Africa Summit has established itself as a premier continental platform anchored in Innovation, Investment, and Impact. The 2026 edition signals Africa’s shift from observation to structured implementation—integrating virtual assets, tokenisation, artificial intelligence, open banking, and digital public infrastructure to build more resilient financial systems. MMFL and MTN Ghana’s participation underscores the companies’ commitment to responsible financial innovation and to ensuring that Africa’s rapid fintech growth translates into lasting, inclusive economic impact for consumers across the continent. Source: Apexnewsgh.com
MTN GHANA BRIDGES ACADEMIA AND INDUSTRY WITH HANDS-ON TECH EXPERIENCE FOR 200+ STUDENTS
MTN Ghana has hosted more than 200 students from various educational institutions in Accra for an engaging, hands-on technology immersion at MTN House, bringing classroom theory to life and fuelling interest in STEM and digital innovation. Students from Ashesi University, Ghana International School, Cradle Star Academy, and Kinderland School explored MTN Ghana’s rich history, core values, customer-focused innovations, and digital transformation agenda. They were introduced to the company’s sustainability and social impact initiatives, spanning education, youth empowerment, and community development. A key highlight of the visits was a tour of MTN Ghana’s Network Operations Centre (NOC) and data centres. Students gained firsthand exposure to the advanced technology, systems, and expertise powering seamless connectivity for millions daily, offering a rare look into how MTN ensures network performance, security, and resilience. Speaking on the initiative, the Chief Corporate Services and Sustainability Officer at MTN Ghana, Adwoa Wiafe, noted, “Hosting students at MTN House reflects our commitment to shaping Ghana’s digital future. As we deliver our Ambition 2030 strategy, we are deepening investments in youth development through programmes like the Bright Scholarship, the MTN Digital Skills Academy, and collaborations on the One Million Coders Programme and the Girls in ICT initiative led by the Ministry of Communications, Digital Technology and Innovation.” Paschal Paaga, Manager for IT Projects Implementation, emphasised the importance of experiential learning. ‘’By opening our doors, we are helping to bridge the gap between academia and industry. We want young people to see the real-world impact of technology and be inspired to pursue careers in STEM.” For many participants, the experience was transformative. Maame Sapomaa, a Level 300 Information Systems student from Ashesi University, shared, “The visit was incredibly inspiring. Everything we have learned in the classroom came to life, and we were exposed to new concepts beyond our studies. It has motivated me even more to pursue a career in technology.” As MTN Ghana advances its Ambition 2030 vision, the company remains committed to driving digital inclusion, platform-led innovation, and building strategic partnerships that support Ghana’s long-term socio-economic development. Source: Apexnewsgh.com
Bank of Ghana Defends Financial Health Amid Scrutiny Over 2025 Losses
The Bank of Ghana (BoG) has moved to reassure the public and policymakers about its financial strength following heightened scrutiny of its 2025 accounts, which revealed a significant GH¢15.6 billion loss. Addressing concerns on Channel One TV’s “Face to Face” on Tuesday, May 5, BoG’s Head of Communications, Bernard Otabil, maintained that the central bank remains fully capable of fulfilling its mandate despite the reported losses. Otabil explained that the institution’s financial position should be understood within the unique context of central banking, where policy effectiveness is prioritized over profitability. “We are policy solvent,” he stated. “If in doubt, you always have to look at the cash flow position. The accounts presented came with other supporting documents, all laid out transparently. There’s nothing to suggest the Central Bank cannot continue its business as usual, nor will any significant part of its operations be curtailed in the foreseeable future.” He pointed to the BoG’s “policy solvency” figure, approximately 5.5 billion, as evidence of the bank’s resilience. According to Otabil, policy solvency demonstrates the Bank’s capacity to fund and sustain its monetary policy operations, including managing liquidity and maintaining price stability across the economy. The BoG’s 2025 financial results have sparked public and political debate, with critics raising concerns about the scale of the central bank’s losses and its negative equity position. However, Otabil urged commentators to interpret these numbers in context, noting that central bank balance sheets often reflect the costs involved in stabilizing economies during turbulent times. He stressed that the central bank’s ability to operate effectively remains unaffected, dismissing suggestions that its financial standing could undermine its core mandate. “If you look at what has been put there, it gives you a strong sense that the Central Bank is still functioning as expected,” he assured. Source: Apexnewsgh.com
Majority in Parliament Criticises Akufo-Addo Government Over Failure to Achieve Macroeconomic Stability Amid BoG Losses
The Majority in Parliament has publicly criticised the Akufo-Addo administration for what it describes as a failure to achieve macroeconomic stability, pointing to the Bank of Ghana’s cumulative losses of over GH₵80 billion between 2022 and 2024 as evidence of persistent economic challenges. Addressing journalists, Eric Afful, Chairman of Parliament’s Economy and Development Committee and Member of Parliament for Amenfi West, outlined a series of economic hurdles that, in his view, have contributed to the central bank’s reported loss of GH₵15.6 billion in 2025. He argued that despite these significant operational losses, the country’s economic fundamentals remain weak. “Inflation surged to a peak of 54.13% in 2022 before easing to 23.84% by the end of 2024. The Ghana cedi continued to depreciate, reaching approximately GH₵14 to a dollar by December 2024, a depreciation of about 19.7%,” Afful stated. He further noted that gross international reserves were only sufficient to cover around four months of imports, standing at $9.3 billion in 2024. Afful also highlighted the central bank’s deteriorating equity position, revealing that negative equity stood at GH₵64.34 billion in 2023, improving only marginally to negative GH₵61 billion in 2024. “Despite all these losses, we have not seen a corresponding improvement in the economy’s fundamentals,” he remarked. He argued that the losses recorded in 2025 should not be viewed in isolation but rather as part of ongoing policy interventions intended to stabilise the economy. “Given these considerations, the 2025 outcomes must be understood as the continuation of a deliberate and necessary policy intervention,” Afful explained. The Majority’s critique comes at a time of heightened scrutiny over the government’s economic management, with many stakeholders calling for renewed efforts to address inflation, currency depreciation, and the central bank’s financial health. Source: Apexnewsgh.com
Bank of Ghana Slashes Currency Issuance Costs Amid Rising Cash Demand in 2025
The Bank of Ghana (BoG) has achieved a significant reduction in the cost of issuing currency in 2025, even as the volume of cash circulating in the economy reached new highs. According to the central bank’s latest financial statements, the total cost of currency issuance dropped sharply from over GH¢1 billion in 2024 to GH¢471.4 million in 2025, a noteworthy operational shift for the institution. The decline was largely fueled by a dramatic 72% fall in direct production expenses, with the cost of printing banknotes and minting coins plummeting from GH¢986 million to GH¢277 million year-on-year. This points to a deliberate strategy by the BoG to scale back physical currency production, likely through better inventory management, reduced replacement needs, or targeted cost-optimisation measures. However, the overall picture of currency management remains complex. While the central bank succeeded in slashing production costs, several other operational expenses saw increases. Agency fees inched up to GH¢10.6 million, foreign currency import costs rose from GH¢14.4 million to GH¢16.5 million, and miscellaneous currency-related expenses surged to GH¢183 million from GH¢14.6 million. This sharp rise in ancillary costs partially offset the savings made in printing and minting, highlighting continuing logistical and management pressures. Despite the cost-cutting measures, Ghanaians’ appetite for cash showed no sign of waning. Currency in circulation, defined by the BoG as the total face value of banknotes and coins held by the public and financial institutions, net of cash in the central bank’s vaults, increased by about 17%, rising from GH¢71.6 billion in 2024 to GH¢83.8 billion in 2025. The latest data underscores the BoG’s evolving approach to operational efficiency in currency management, even as demand for physical cash continues to grow across the country. Source: Apexnewsgh.com
Upper East GJA Marks World Press Freedom Day with Focus on Ethical Court Reporting
The Upper East Regional branch of the Ghana Journalists Association (GJA) commemorated the 2026 World Press Freedom Day with a renewed commitment to ethical court reporting. This year’s celebration, held in Bolgatanga, brought together journalists from across the region for a hands-on workshop aimed at deepening their understanding of the legal and ethical complexities of reporting on legal proceedings. In his address to the gathering, GJA Upper East Chairman, Albert Sore, celebrated Ghana’s remarkable progress in media freedom. “The World Press Index, released by Reporters Without Borders, shows that Ghana has climbed from 52nd to 39th out of 180 countries,” he announced. “Today, as we mark World Press Freedom Day, this is something remarkable that we should all be proud about. It is our hope that we will continue to see improvement in the years ahead.” The GJA Chairman emphasized that the decision to focus on court reporting was a conscious one, aimed at sharpening journalists’ skills and ensuring responsible coverage of sensitive legal matters. “If you misrepresent what transpires in court, you risk not only creating problems for yourself, but also infringing on someone’s human rights,” he cautioned. He urged participants to actively engage, ask questions, and share experiences, expressing his hope that the workshop would lead to a noticeable improvement in the quality of legal reportage in the region. The workshop featured presentations from key legal experts, including Lawyer Jaladeen Abdulai, Upper East Regional Director of the Commission on Human Rights and Administrative Justice (CHRAJ). Lawyer Abdulai highlighted the crucial role of journalists in safeguarding transparency and accountability within Ghana’s justice system. “Journalism plays a vital role in protecting transparency and accountability in the justice system. If we shut the door to journalism, everything will be in the dark,” he said. Lawyer Abdulai walked participants through the proper procedures for court reporting, stressing the importance of accuracy, fairness, and respect for privacy. He advised journalists to consult with court registrars and judges to ensure their reports are factually correct and to avoid misrepresenting proceedings. “Irresponsible reporting can result in serious human rights violations, unfair trials, stigma, and privacy invasion,” Lawyer Abdulai warned. He also urged journalists to be mindful of the legal definitions of suspects, accused persons, and convicts, pointing out that a failure to use legal terminology correctly could mislead the public. The session delved into the ethical standards that govern the profession, reminding reporters that their work has the power to shape public perception and trust in the judiciary. “Every profession has its ethical standards,” Lawyer Abdulai said. “So is it within your standards to do what you are doing? You have to ask yourself that question.” His Lordship, Justice Ernest Gemadzie, the Upper East Regional Supervising High Court Judge, also addressed journalists, focusing on the intersection of human rights and legal reporting. Justice Gemadzie underscored the role of the courts in protecting individual rights and resolving disputes, and he called on journalists to ensure their reports uphold the dignity and privacy of all parties involved. “No position is permitted to interfere with the privacy of individuals except as required by law,” he noted, urging journalists to understand the boundaries of what can and cannot be reported, especially in sensitive cases such as those involving juveniles or victims of sexual offences. Justice Gemadzie further explained the importance of the Right to Information Act in promoting accountability and transparency, but cautioned that not all information is fit for public consumption, especially when it concerns ongoing investigations, national security, or confidential sources. He encouraged journalists to always seek clarity from legal professionals when in doubt, to avoid overstepping ethical or legal boundaries. Throughout the interactive workshop, participants engaged in vibrant discussions, posing questions about the disclosure of identities in criminal cases, the limits of public interest reporting, and the practical steps required to access court information. The training closed with a sense of enthusiasm and renewed purpose among the journalists, many of whom expressed excitement about applying what they had learned. As Ghana continues to rise in global press freedom rankings, the Upper East GJA’s commitment to responsible court reporting stands as a testament to the profession’s ongoing evolution, balancing the right to inform the public with the responsibility to protect the rights and dignity of all citizens. Source: Apexnewsgh.com