Economist and Finance Professor at the University of Ghana, Professor Godfred Bokpin, has stated that the New Patriotic Party (NPP) deserves partial credit for the current stability of the Ghanaian cedi.
He cited improved macroeconomic indicators and the continuity of certain policies as factors contributing to the cedi’s resilience.
Speaking in an interview on Citi FM on Wednesday, 21 May, Professor Bokpin acknowledged that while multiple elements are responsible for the cedi’s performance, the previous NPP government’s post-election economic management had a significant impact.
Professor Godfred Bokpin
“To some extent, the NPP should be given some credit. If you look at the data after December 2024, after the election under the IMF programme, we missed practically all the indicators, except for two,” he explained.
“One was GDP growth, which was higher than the programme’s target. We ended the year with 5.7%, and the other was our international reserves.”
He pointed out that the former government’s efforts, particularly through the Gold-for-Reserves programme, helped shore up foreign reserves — a move that created a foundation for the current administration to build upon.
He emphasised that this foundation has played a role in stabilising the foreign exchange market.
Professor Bokpin concluded that the relative currency stability being experienced is not the result of a single government’s action but rather a continuation of prudent policies.
“Such policy continuity, especially in the management of foreign reserves, has contributed to the relative stability observed in the foreign exchange market,” he noted.Source: Myjoyonline.com
One of the most damaging aspects of the internal dynamics that contributed to the Akufo-Addo administration’s growing unpopularity—and ultimately, its electoral defeat in 2024—was the tendency of some party members to peddle unfounded allegations against their own colleagues. A striking example is the baseless accusation leveled against Hon. Francis Asenso-Boakye, then Minister for Works and Housing, by the then MP for Assin Central, Hon Kennedy Agyapong, which was circulated widely, including the video above.
Video attached below;
The allegation, which suggested that he had sanctioned the sale of government housing units under questionable circumstances, was not only false but deeply injurious.
Had it been true, it would have represented a serious betrayal of public trust. Instead, the truth is that Hon. Asenso-Boakye, during his tenure, took a firm stance against such sales—often at the displeasure of those with vested interests—and rather championed the redevelopment of government properties to increase the stock of housing for public servants. His successor, Hon. Kojo Oppong Nkrumah, can fully attest to this policy orientation.
What made the situation more disheartening was the deafening silence from those who should have defended him. No public rebuttal was issued from within the party to set the record straight. It had to take the unprecedented intervention of the Judicial Service—an institution known for its restraint in such matters—to issue a public statement correcting the falsehood.
Such internal sabotage, driven by ambition or misinformation, inflicted significant damage not only on the individual reputations of dedicated public servants like Hon. Asenso-Boakye but also on the overall image of the government.
It eroded public confidence, deepened internal divisions, and handed political opponents potent ammunition. In the end, these self-inflicted wounds contributed to the NPP’s defeat in the 2024 general elections—a painful outcome that could have been avoided with greater unity, discipline, and fidelity to the Source:Dr.Frank Osei Bonsu
Suspended Chief Justice Gertrude Torkornoo has officially petitioned the Supreme Court to disqualify two of its justices—Gabriel Scott Pwamang and Samuel Kwame Adibu-Asiedu—from participating in proceedings concerning her possible removal from office.
The motion, submitted on her behalf by former Attorney-General Godfred Yeboah Dame, argues that the two justices should be barred due to their alleged involvement in an inappropriate meeting with a lawyer representing one of the petitioners in the ongoing inquiry.
Suspended Chief Justice Gertrude Torkornoo
Justice Torkornoo’s petition names Justices Pwamang and Asiedu, along with former Auditor-General Daniel Yao Domelevo, Major Flora Bazwaanura Dalugo, and Professor James Sefah Dzisah, as defendants or respondents in the case.
She is requesting that the Supreme Court issue an order restraining the committee—comprising the second to sixth respondents—from continuing with any proceedings connected to the inquiry into the three petitions filed against her.
Her suspension, announced by President John Mahama under Article 146 of the 1992 Constitution, followed the establishment of a prima facie case by the Council of State. The suspension remains in place pending the outcome of the inquiry.
This legal action marks a dramatic escalation in the ongoing controversy, as Justice Torkornoo raises serious concerns about the fairness and impartiality of the process. She is particularly alarmed by the involvement of justices who allegedly held private meetings with a petitioner’s lawyer.
Background to the Controversy
Alfred Ababio Kumi, a concerned citizen, has also submitted a petition to the President, urging the immediate dissolution of the five-member committee investigating the Chief Justice. His petition is based on what he describes as a compromising and inappropriate encounter between members of the judiciary and legal counsel.
Kumi claims that on the night of Thursday, May 15, 2025—the same day the committee held its inaugural session—Justices Gabriel Pwamang, Samuel Kwame Adibu-Asiedu, and Yonny Kulendi were seen at Santoku Restaurant in Accra’s Airport Residential Area between 7:30 p.m. and 8:30 p.m., dining with Mr. Thaddeus Sory, who is counsel for one of the petitioners.
According to Kumi, the meeting “excited the curiosity of some persons in the restaurant,” who reportedly overheard discussions related to the case. “The strange meeting of the four persons who are keenly interested in and have played, and indeed continue to play, critical roles initiated in the processes for the removal of the Chief Justice excited the curiosity of some persons in the restaurant. Indeed, they were overheard discussing matters relating to the petition,” the petition stated.
He insists the incident can be easily confirmed, writing: “Respectfully, the record of the four – Justices Pwamang, Kulendi [and] Asiedu and lawyer Thaddeus Sory’s – presence at the restaurant and meeting can easily be verified and confirmed.”
Kumi describes the situation as a serious threat to the legitimacy of the process, stating, “The above development is of grave worry as proceedings for the removal of the Chief Justice of the Republic of Ghana are a solemn process and should not lend itself to manipulation by any person or authority. The meeting between Justices Pwamang, Kulendi, and Asiedu with Thaddeus Sory clearly has destroyed the integrity of the process and reduced public confidence in the process so far.”
He continues by emphasizing the conflict of interest: “Both Justices Asiedu and Pwamang are panel members set up to inquire into the petition. They have no business meeting with counsel for one of the petitioners outside working hours at an unofficial place – a restaurant, to have a discussion.”
Kumi further pointed out a past judgment as part of the concern: “This is more serious when the record shows that Justice Pwamang gave judgments in favour of the same petitioner, Daniel Ofori, represented by the same counsel, Thaddeus Sory, in the Supreme Court.”
Describing the justices’ alleged actions as unethical, he concluded: “Their conduct is deplorable and the most unbecoming of justices occupying the highest court in Ghana. It has the tendency to show that the whole process, quite unfortunately, is a sham. In the interest of preserving the integrity of the process, I hereby petition you for an immediate dissolution of the committee, as its ability to dispense justice is clearly compromised.”
This unfolding episode underscores growing concerns about transparency and fairness at the highest levels of the judiciary, with the integrity of the removal process now under intense public scrutiny.Soirce:Dailymailgh.com
The Bank of Ghana says it will intensify key reforms to consolidate recent gains made by the cedi which has appreciated by nearly 19 percent year-to-date.Ghanaian food recipes
The rally of the local currency has been largely driven by coordinated fiscal discipline and tight monetary policy measures.
Dr. Johnson Asiamah
Governor of the Bank of Ghana, Dr. Johnson Asiamah believes the next phase of reforms will focus on sustaining foreign exchange inflows and tightening regulatory oversight in the forex market.
He was speaking at the opening of the Bank’s 124th Monetary Policy Committee meeting on Wednesday at the Bank Square.
Ghanaian food recipes
“Importantly, the cedi has appreciated sharply by nearly 19 percent between April and May, helping to ease imported inflation pressures and restore public confidence. The appreciation reflects a combination of factors, including prudent monetary policy, improved market sentiment and external sector gains, he said.
But the Governor quickly added that underlying economic challenges persist despite the improving outlook.
“However, significant challenges persist. The inflation outlook, while improving, remains vulnerable to second-round effects, food supply constraints, especially from northern Ghana and the Sahel and external price shocks, particularly given volatile global commodity markets.”
“Geopolitical tensions and evolving global trade dynamics, including the recent US-led tariff disputes, have heightened market uncertainty and could affect commodity prices, exchange rates, and financial flows in emerging markets like ours”, he added.Ghanaian food recipes
The MPC is being held at a time of sustained cedi strength against the US dollar and ongoing efforts to rein in inflation.
At its last meeting in March, the Committee raised the policy rate by 100 basis points to 28%, a move the Governor Dr. Johnson Asiama said was necessary to anchor inflation expectations. Source:Nii Lartey
The first 120 days of John Mahama’s second term in office,has seen some significant achievements in the areas of fiscal and monetary policies including the much talked about of the recent appreciation of the Cedi against US dollar and other major international trading currencies.
However, it is worthy to let Ghanaians know the key contributions of Akufo-Addo’s government to the performance of Mahama’s government within the 120 days as follows:
1. Cedi Appreciation: Bearing Fruits of NPP “Gold for Forex” Initiatives & other Interventions
The CEO of GoldBod, Sammy Gyamfi, has been demanding answers to the two questions below:
1. Accumulating physical gold reserves, with a dollar to cedi exchange rate of GHS 16? or
2. Accumulating adequate forex liquidity through unprecedented gold exports, with a dollar to Cedi exchange rate of GHS 12.2?
Dr.Razak KoJo Opoku
First and foremost, any well-read learned lawyer would rather argue from the standpoint of tonnes accumulated over a period of time, not the value of exchange rate since several factors affect the appreciation and depreciation of Currency.
The CEO of GoldBod unfortunately, is rushing above his gold-economics intelligence. Respectfully, the CEO of GoldBod should appreciate the fact that, the physical gold reserves left behind by the NPP Government is largely responsible and part of the unprecedented gold exports executed by Mahama’s government to accumulate the adequate forex liquidity at the exchange rate of GHS 12.2.
The Bank of Ghana Gold Reserves hit 31.37 tonnes at the end of April 2025. Out of this figure, what has been the contribution of GoldBod to the 31.37 tonnes of Gold and under which Budget utilization from January to April 2025?
A robust physical gold reserve position enhances the resilience of Ghana’s balance of payments, ensuring adequate buffer against external economic shocks, and strengthening the monetary policy decisions of Bank of Ghana.
Even, President John Mahama, speaking at the opening ceremony of Ghana-EU Business Forum held in Accra, admitted and acknowledged the undeniable fact that, Akufo-Addo’s government left behind $8.98 billion reserves, creating positive significant impact on the Cedi against the US Dollar and other trading currencies. The NPP’s $8.98 billion has significantly supported forex inflows, improved trade balancing as well as growing investor’s confidence in Mahama’s government.
According to John Mahama, “our gross international reserves have improved further from $8.98 billion in December 2024 to $10.6 billion by April 2025”. Mathematically, the inference is that between January-April 2025, John Mahama’s government has added only $1.62 billion to the Reserves of Ghana, even largely underpinning by the revenue mobilization strategies of NPP’s Mini-Budget for the 1st quarter of 2025 approved by Parliament on 3rd January 2025.
Until and unless Mahama’s government through the GoldBod is able to add more gold to the Reserves exceeding $8.98 billion left behind by the NPP government, the NDC has absolutely no moral or legal or ethical or economic rights to take full 100% credit for the recent appreciation of the Cedi against the US Dollar and other trading currencies.
The Domestic Gold Purchase Programme(DGPP) and “Gold for Oil”Policy so far have done greater good to the Cedi than Mahama’s GoldBod though we cannot completely also ignore the fact that the monopolistic GoldBod has played its role in the recent appreciation of the Cedi.
Categorically, Akufo-Addo’s government is responsible for about 80-90% of gold reserves of Ghana from 2021-April 2025, with the greater credit to the Bank of Ghana under the leadership of Governor Ernest Addison.
John Mahama’s government has been lucky enough to have inherited an already recovering economy from Akufo-Addo’s government.
Also, the admission and acknowledgement of $8.98 billion reserves by John Mahama sincerely indicates that John Mahama and the NDC LIED to the good people of Ghana that NPP criminally managed the economy.
Dr. Ato Forson authoritatively indicated in Section 104, page 24 of the 2025 Budget Speech that, “Mr. Speaker, provisional 2024 GDP Statistics published by Ghana Statistical Service(GSS) on 10th March 2025 shows that overall real GDP grew by 5.7% in 2024 compared to the growth rate of 3.1% recorded in 2023, and non-oil GDP grew by 6% in 2024 compared with a growth rate of 3.6% recorded in 2023(Section 105, Page 24 of 2025 Budget Speech). In fact, this is a solid economic recovery foundation left behind by Akufo-Addo’s government to John Mahama’s government.
Sammy Gyamfi should NOT also forget that before the operations of GoldBod on 2nd April 2025, there were functionality and operationalization of:
1. Precious Minerals Marketing Company(PMMC), later amended to the current GoldBod, headed by Sammy Gyamfi. Mr. Gyamfi was initially appointed as CEO for PMMC, not GoldBod, and actually started working with the architecture of PMMC for three(3) months until the Ghana Gold Board Act, 2025(Act 1140) was passed in March 2025 and assented into law on 2nd April 2025.
Domestic Gold Purchase Programme which began in 2021, with special credit to Akufo-Addo’s government.
The Domestic Gold Purchase Programme(DGPP),and Gold for Oil Policy implemented under the guidance of Akufo-Addo’s government seriously underpins Ghana’s “Gold for Forex” intervention for the appreciation of the Cedi.
Minerals Income Investment Fund(MIIF) envisioned by former President Akufo-Addo, and implemented by Ken Ofori-Atta, former Minister of Finance.
Due to the viability and relevance of Minerals Income Investment Fund(MIIF), in accordance with Section 135 of the 2025 Budget Speech presented to Parliament by Dr. Ato Forson, Minister of Finance, the Mahama’s government would amend the Minerals Income Investment Fund Act to ensure that, 80% of Mineral Royalties originally maintained by MIIF is transferred to the Consolidated Fund for infrastructure development and strengthen social protection initiatives of Mahama’s government(Pages 37-38 of the 2025 Budget Speech).
Ghana-IMF Programme started by Akufo-Addo’s government until 2026. John Mahama’s government inherited a $3 billion Extended Credit Facility from NPP government, with $370 million tranche hitting the account of Bank Ghana very soon.
The current Ghana-IMF programme has really created fiscal discipline and macro-stability for the Ghanaian economy, thereby boosting investor’s confidence in the economy.
The existence of the IMF programme has largely prevented Mahama’s government from reckless expenditures.
We would patiently wait to see the outcome of Ghana’s economy under Mahama’s government after the IMF Fiscal Discipline Programme with Ghana comes to an end in 2026.
2. Mini-Budget for 1st Quarter of 2025 Presented to Parliament by Akufo-Addo’s Government
It is without any argument and doubt that, Ghana was governed by John Mahama within the 120 days using Akufo-Addo’s Mini-Budget for 1st Quarter of 2025 passed by Parliament on 3rd January 2025.
Until Hon. Dr. Ato Forson presented the Budget on the 11th March 2025, John Mahama’s Administration was operating with Akufo-Addo’s Mini-Budget for 1st
quarter of 2025 in accordance with the relevant laws of the Country.
The Mini-Budget delivered by Hon. Dr. Mohammed Amin Adam on behalf of Akufo-Addo’s government was responsible for funding government operations for the 1st quarter of 2025, pending the substantive budget presentation by Mahama’s government.
The allocations of Akufo-Addo’s Mini-Budget focused on critical government functions including GHS 2.37 billion tax refunds, healthcare, education, public service costs, and infrastructure development across the country.
Akufo-Addo’s Mini-Budget helped Mahama’s government to sustain essential services, address pressing fiscal & monetary needs of Ghana, ensuring the sustainability of economic stability, as well as revenue mobilization strategies.
Dr.Ato Gordon, Finance Minister and President John Mahama
The Akufo-Addo’s 68.13 billion Ghana Cedis Mini-Budget for 1st Quarter of 2025 has the following deliverables:
1. GHS 16.46 billion for payment of employees salaries.
2. GHS 3.12 billion for payment of goods and services.
3. GHS 20.69 billion for interest payments, including obligations to Independent Power Producers(IPPs), and the Energy Sector Levy Account(ESLA).
4. GHS 45.50 million for subsidies.
5. GHS 9.19 billion allocated to government agencies.
6. and several other components not mentioned here.
3. Payment of Domestic Bondholders by Mahama’s Government
It is undeniable fact that, John Mahama’s government was able to honour the following payment interventions in February 2025 largely influenced by the Mini-Budget of Akufo-Addo’s government:
1. Payment-in-Cash(PIC) coupon of GHS 6.081 billion to all Domestic Debt Exchange Programme(DDEP) bondholders.
2. Payment-in-Kind(PIK) portion of GHS 3.46 billion, deposited into the respective bondholders’ securities accounts in line with the DDEP Memorandum secured by Akufo-Addo’s government.
3. Payment of GHS 9.7 billion into the Debt Service Recovery Cedi Account(Sinking Fund) as a buffer for the 5th DDEP coupon due in July and August, 2025.
The Debt Exchange Programme was a necessary evil intervention taken by Akufo-Addo’s government, attracted the hatred of Ghanaians but now serving as a blessing and breathing room to John Mahama’s government.
The 2025 Budget Statement of Mahama’s government indicates that, “Mr. Speaker, you may recall that the government(Akufo-Addo’s government) commenced the debt restructuring programme in 2022 to RESTORE DEBT SUSTAINABILITY and ECONOMIC STABILITY. Mr. Speaker, as of now, the restructuring process is approximately 93% completed. The remaining 7% relates to debt of $2.7 billion owed to commercial creditors. We are committed to completing the remaining debt restructuring as soon as possible”(Sections 101, 102 and 103: Pages 23-24 of 2025 Budget Speech delivered on 11th March 2025).
Additionally, Dr. Ato Forson admitted in Section 100 of the Budget Speech as follows, “Mr. Speaker, the reduction in debt -to-GDP ratio and the dollar component of our debt stock is as a result of the 37% haircut on the principal of the Eurobond debt under the debt restructuring programme” (Page 23 of 2025 Budget Speech), with greater credit to Ken Ofori-Atta and Dr. Mohammed Amin Adam, two former Ministers of Finance Akufo-Addo’s government.
Now, my question to Sammy Gyamfi, CEO of GoldBod and NDC Members are as follows:
(a). What would have been the current situation of the Cedi and the economy of Ghana if NPP government (with greater credit to Ken Ofori-Atta and Dr. Mohammed Amin Adam) was unable to successfully restructured 93% of Ghana’s debt caused by successive governments?
(b). How do you(NDC members) take full 100% credit for Cedi Appreciation when your efforts to Ghana’s debt restructuring is just 7%? This would certainly be an unreasonable and unjustifiable glory.
…. Signed….
Razak Kojo Opoku(PhD)
Founding President, UP Tradition Institute
Accra, Ghana– The National Executive Committee of the Private Newspapers and Online News Publishers Association of Ghana (PRINPAG) has officially confirmed Mr. Jeorge Wilson Kingson as the Executive Secretary of the Association. The confirmation was made during the Committee’s Second Quarter meeting held on Wednesday, May 21, 2025, at PRINPAG’s National Secretariat in Kokomlemle, Accra.
Mr. Kingson’s confirmation was made in accordance with the Association’s constitution and received unanimous approval from all members of the Executive Committee. His confirmation comes after months of dedicated service in an acting capacity, having stepped into the role in September 2023.
Commenting on the development, PRINPAG President Mr. Andrew Edwin Arthur noted, “Ever since Jeorge was placed in an Acting Executive Secretary capacity in September 2023, he has worked hard to bring us progress. His work is evident, and we believe strongly that he will work even harder to unite and strengthen the Association further.”
Mr. Kingson also currently serves as the Public Affairs and External Relations Officer of PRINPAG, a role in which he has played a key part in enhancing the Association’s visibility and stakeholder engagement.
As Executive Secretary, Mr. Kingson will be responsible for the day-to-day administration of the Association, ensuring the smooth execution of its operations, and providing strategic and logistical support to help PRINPAG achieve its mission and objectives.
PRINPAG congratulates Mr. Kingson on his confirmation and looks forward to his continued leadership, innovation, and commitment to the advancement of the media landscape in Ghana.
Transparency International Ghana has criticised President John Mahama over his decision to accept two vehicles as gifts, calling the move a contradiction of the ethical standards outlined in his newly launched Code of Conduct for public appointees.
President Mahama, who recently unveiled the code as a moral benchmark for officeholders, publicly admitted to receiving the two cars, which he subsequently handed over to the state. However, Michael Boadi, Fundraising Manager at Transparency International Ghana (TIG), says the gesture still sends the wrong message.
“I think that the president’s accepting the two cars in the first place undermined his code of conduct,” Mr Boadi said in an interview on Joy FM’s Super Morning Show on Wednesday, 21 May.
“Right from the onset, he undermined his own principles and standards that he has set for his own appointees.”
Invoking the adage “he who comes to equity must come with clean hands,” Mr Boadi questioned the president’s ability to enforce the Code when he has received high-value gifts.
“Appointees are prohibited from accepting gifts exceeding GH₵20,000, yet the president appears to be held to a different standard,” he noted.
Mr Boadi further argued that the presidency already possesses a substantial vehicle fleet and does not require additional cars. Instead, he suggested a more prudent and ethical course of action would have been to redirect the gift.
“The presidency has enough pool of cars; they don’t need extra cars. He could have said, ‘Thank you, but please donate this to an institution,’” Mr Boadi said.
He also referenced a 2016 CHRAJ ruling that found the presidency in breach of conflict-of-interest guidelines in a similar car gift case, stressing that lessons should have been learned.
“There are lessons that exist that our leaders should have drawn from,” he added.
The comments come amid growing public debate about the practical commitment of political leaders to upholding transparency and accountability, especially in the face of mounting concerns over governance standards.Source: Emmanuel Tetteh
May 21, 2025 Stephen Blewett, the Chief Executive Officer of MTN Ghana, says MTN’s Fiber to the Home (FTTH) services, will expand internet access to households across major communities in the country for various purposes.
Stephen Blewett in a Pose with Journalists from Northern Region
In his keynote address during a media and stakeholder forum held in the northern regional capital Tamale, Mr. Blewett emphasized that the FTTH solution was developed in response to the growing reliance of Ghanaian homes on internet connectivity. He said, “We have tailored our FTTH solutions to meet the diverse needs of our customers.
CEO Stephen Blewett Interacts with a Vendor in Tamale Market
Our FTTH service offers high-speed internet connectivity, reliable and stable connections, low latency for seamless online experiences, and flexible plans to suit various needs and budgets.” He added, “This initiative aligns with our overarching digital agenda aimed at bridging the digital divide and empowering individuals, businesses, and communities across Ghana.”
MTN CEO Stephen Blewett interacting with customers in the Market
Mr. Blewett also highlighted that network expansion and capital investment are critical to MTN’s business growth and customer experience. He stressed the importance of expanding MTN’s digital infrastructure to enhance connectivity and drive economic growth.
MTN is enhancing its 4G capacity to ensure future-proof connectivity by upgrading its infrastructure and investing in the foundation of digital communication. In 2025, approximately 130 kilometers of fiber infrastructure will be relocated to improve network resilience and significantly expand capacity. This initiative will pave the way for next-generation services and applications that will empower individuals and businesses nationwide.
During his visit to the Northern region of Ghana, MTN CEO Stephen Blewett engaged with several stakeholder groups. He paid a courtesy call on the Northern Regional Minister, Hon. Ali Adolf John, and held discussions with media representatives from the Upper East, North East, Savannah, and Northern regions. Additionally, the CEO met with staff, toured the Tamale market, and engaged in conversations with the company’s trade partners.He was accompanied by some of the company’s executives and other management team members.
MTN organizes annual regional outreach programs to gather feedback on its operations and provide updates on product and service innovations.
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Adwoa Wiafe
Chief Corporate Services and Sustainability Officer
