Business

PRESS RELEASE

 

Dear Richard Ofori Agyemang Boadi aka King Zuba (Mayor of Kumasi Metropolitan Assembly Mayor)

Warm greetings to you.

The leadership of the Kumasi Youth Association has taken note of your recent video message directed at traders within the Kejetia enclave and its adjoining trading communities. While we understand and appreciate the Assembly’s mandate to maintain order, sanitation, and discipline within the city, we believe the current approach requires deeper consultation and a more human-centered touch.

As we enter the month of December a period that traditionally brings increased commercial activity and provides an opportunity for thousands of traders to earn enough income to support their families,we respectfully appeal to you to exercise restraint and adopt a more considerate approach. .

Many of these traders are mothers, fathers, and breadwinners ,who depend solely on this season to sustain their households.

Their contributions significantly stimulate the local economy of Kumasi and, by extension, Asanteman.

KuYA wishes to emphasize the following points for your kind consideration:

1. Adopt a Human-Faced Strategy:
   In this festive season, we humbly urge the KMA to avoid abrupt enforcement actions. Allowing traders some operational flexibility during this period will prevent unnecessary hardship and tension.

2. Provide Clear Alternatives Before Relocations:
   If the Assembly intends to relocate traders, it is important that viable and adequate alternative markets such as Abinkye Market, Atonsu Market, and other satellite facilities are clearly prepared and communicated. Traders must not be displaced without a proper, functioning alternative.

3. Ensure Proper Public Education & Stakeholder Engagement:
   Before implementation of any relocation or reorganization exercise, the KMA must intensify public sensitization to inform traders and residents about the plans, timelines, and expected outcomes. Effective communication builds trust and minimizes resistance.

4. Consider Ongoing Market Projects:
   The Central Market (Phase II) is still under construction. Until this major facility is completed and ready to absorb traders, we respectfully appeal to the Assembly to be measured in its actions to avoid overwhelming the limited available alternative spaces.

5. Preserve the Peace and Dignity of Kumasi:
   Kumasi has long been admired for its peaceful social and commercial environment. Maintaining this harmony requires collaboration, empathy, and respect between authorities and citizens.

 

As an association that represents the voice of the youth and the larger community of Kumasi, we are committed to supporting any initiative that enhances order, development, and progress. However, we equally stand for fairness and the protection of livelihoods.

We therefore urge you, Hon. Mayor, to reconsider your strategy and engage the traders with dialogue, understanding, and mutual respect. Together, we can uphold the dignity of Asanteman while ensuring sustainable development for all.

Thank you.

Signed
𝗞𝘄𝗮𝗯𝗲𝗻𝗮 𝗙𝗿𝗶𝗺𝗽𝗼𝗻𝗴
General Secretary, Kumasi Youth Association (KuYA)

𝗢𝗽𝗽𝗼𝗻𝗴 𝗣𝗮𝘂𝗹
𝗢𝗿𝗴𝗮𝗻𝗶𝘀𝗲𝗿

 

Accra, November26, 2025 – MobileMoney Fintech LTD is inviting Shareholders and the Qualifying Beneficiaries to an Extraordinary General Meeting which will be held in-person at the University of Professional Studies, Accra (UPSA) Auditorium and virtually via live streaming at https://momofintechegm.com/ on Monday, December 1, 2025 at 11AM.

 

The agenda for the EGM is as follows:

 

Ordinary Resolution

• To approve the waiver of the fairness report in terms of section 247(2) ofthe Companies Act,2019 (Act 992).

Special Resolution

• To approve the Merger in terms of section 243(5) of the Companies Act, 2019 (Act 992).

Shareholders and Qualifying Beneficiaries(as defined in the circular) are invited to attend the in-person meeting at the University of Professional Studies, Accra (UPSA) or participate virtually via https://momofintechegm.com/ from 11AM GMT on December 1, 2025. Participation through the virtual link will be free for all Shareholders and Qualifying Beneficiariesin Ghana on MTN’s network. MTN will reimburse Shareholders and Qualifying Beneficiaries on MTN’s network who unintentionally incur charges.

Alternatively, Shareholdersand Qualifying Beneficiaries without smartphones may participate in the EGM by dialing +233244300025, entering the access code 8000, or entering the conference pin number 056789.

A unique token number has been sent to Shareholders and Qualifying Beneficiaries by email and/or SMS to grant access to the EGM. Registration for the EGM will begin at 9AM GMTat UPSA.

Shareholders and Qualifying Beneficiaries are entitled to attend and vote at the EGM. If a Shareholder or Qualifying Beneficiary is unable (or who does not wish) to attend the meeting, they are allowed by law to vote by proxy. A Proxy Form can be downloaded from https://momofintechegm.com/ and may be completed, signed and sent via email to info@csd.com.gh, or deposited at the office of the CSD, as soon as possible and in any event not later than 24 hours before the time for voting by poll on the resolutions tabled at the EGM.

 

In the case of joint holders, each joint holder should sign the Proxy Form.

 

Voting during the EGM will be conducted electronically either via the Online Platform, orby dialing USSD code 8990#.  Shareholders or Qualifying Beneficiaries who do not submit proxy forms prior to the meeting may vote using their unique token number.

 

A Circular has been prepared to provide information to the Shareholders and Qualifying Beneficiaries, both as defined in the Circular, regarding the proposed merger of MobileMoney Fintech LTDwith the Company. The Circular sets out details of the Merger terms and conditions, the Merger rationale, and provides information on MobileMoney Fintech LTD. It also includes information for Dissenting Beneficiaries, of their rights and the manner in which suchrights (Appraisal Rights) may be exercised.The Circular can be accessed at https://momofintechegm.com/.

 

For further information about this EGM, Shareholders and Qualifying Beneficiaries may contact info@csd.com.gh or call +233 (0) 54 582 3198, +233 (0) 54 582 2865 or +233 (0) 54 5822920

 

-ENDS-

Media Contacts.

 

Adwoa Wiafe

Chief Corporate Services & Sustainability Officer

 

Georgina Asare Fiagbenu

Corporate Communications Senior Manager

Email:mtnghana.mediaoffice@mtn.com

 

Paapa Osei

Head, Legal & Reputation Management

MobileMoney LTD

paapa.osei@mtn.com

MML Communications [MML Ghana]MMLCommunications.gh@mtn.com

 

The Bank of Ghana has reduced its Monetary Policy Rate by 350 basis points to 18 percent. This marks one of the steepest policy easing decisions in recent years.

The Central Bank cut the rate over sustained progress in taming inflation, a stabilising currency and improved macroeconomic conditions that create room to support growth.

The reduction is expected to translate into lower lending rates in the medium term, offering relief to businesses and households that have struggled with high borrowing costs.

Governor Dr. Johnson Asiama speaking at the MPC meeting

Announcing the decision at a press briefing on Wednesday, November 26, 2025, Governor Dr. Johnson Asiama said the latest assessment by the Monetary Policy Committee (MPC) shows the economy has entered a period of broadly improved stability, anchored by a strong rebound in the external sector.

“The bank projects a continued stable inflation profile around the target and well into the first half of next year, 2026. This is against the backdrop that current risks in the outlook to shift the path of inflation away from target have moderated significantly”, he said.

For him, the country’s external position has seen a remarkable turnaround which provides firmer backing for policy flexibility.

Dr. Asiama explained that with risks to the inflation outlook receding and real interest rates remaining significantly high, the Committee judged that conditions were right to reduce the policy rate to stimulate economic activity.

“Given these considerations, the committee, by majority decision, voted to lower the monetary policy rate further by 350 basis points to 18.0%”, the Governor added.

Governor Dr. Johnson Asiama has assured that the Monetary Policy Committee (MPC) will continue to closely monitor domestic and external developments and take the necessary policy actions to sustain the current economic momentum.

With this latest reduction, the Central bank has now lowered the policy rate by a cumulative 1,000 basis points in 2025 alone, making it one of the most aggressive easing cycles in recent years.Source:Nerteley Nettey

 

 

 

127TH MONETARY POLICY COMMITTEE MEETINGS

OPENING REMARKS BY
DR. JOHNSON PANDIT ASIAMA,GOVERNOR, BANK OF GHANA

Colleagues, good morning

As we gather for the 127th session of the Monetary Policy Committee, the data before us paints a very different picture from where Ghana stood barely a year ago.

The economy has turned a decisive corner. Inflation is not only back within the target band but has eased faster than anticipated.

The exchange rate has remained broadly stable. External buffers are strong. And, perhaps most encouraging the real sector is showing signs of sustained revival.

 

The staff briefing confirms that the initial conditions for this meeting are the strongest we have had in several years.

Headline inflation is at 8.0 percent, core inflation measures are between 5–7 percent, and expectations remain anchored.

The cedi has demonstrated resilience in 2025, supported by improved confidence, strong operational reforms in the FX market, and robust trade and reserve inflows.

DR. JOHNSON PANDIT ASIAMA,GOVERNOR

Gross reserves have risen to US$11.41 billion, equivalent to 4.8 months of import cover, and are projected to reach 5 months by year-end.

What stands out this quarter is the broad momentum in economic activity. Growth has been stronger and more diversified than anticipated.

The first half of the year recorded 6.3 percent GDP growth, driven by vibrant expansion in services and agriculture, while non-oil GDP surged to 7.8 percent.

High-frequency indicators echo this trend: the Composite Index of Economic Activity is up about 9 percent, and business and consumer sentiments remain firmly positive.

 

Taken together, these gains confirm that the negative output gap is narrowing, and the economy is gradually shifting from recovery to expansion.

But the turnaround is not accidental. It reflects sustained fiscal discipline, a cautious but determined monetary stance, and structural policy reforms, particularly the improvements in the FX operations framework and the rebuilding of external buffers.

The 2026 Budget reinforces this discipline and places growth and job creation at the centre of Ghana’s next phase of economic transformation.
Looking ahead, the growth outlook remains favourable. Staff projections, supported by recent real-sector indicators, suggest that the economy will maintain a steady expansion path through 2026.

The strong harvest season, improved food supply dynamics, enhanced FX liquidity, and the easing credit environment all provide support for continued growth. Non-oil sectors, services, industry, and agriculture are expected to remain the key drivers.

The broader macro-framework also supports this trajectory. Money supply growth has moderated significantly, helping anchor inflation. Real rates remain high, creating room for a carefully calibrated easing cycle. And with inflation likely to settle between 4–6 percent by year-end before stabilising around the target band in 2026, Ghana is entering what could become a multi-year period of price stability.

At the same time, the global environment remains fragile, and we must remain alert to risks, commodity price swings, geopolitical tensions, and tighter external financial conditions. Domestically, pressures around taxes, utilities, and costs of credit continue to weigh on business activity, even amid improved optimism.
For today’s deliberations, there are three areas that deserve our most careful attention:

1. The Pace of Disinflation and the Real Interest Rate Path

As inflation declines faster than projected, real interest rates have risen sharply. Staff analysis shows scope for gradual easing, but the balance must preserve credibility and avoid undermining the disinflation gains.

1. The FX Market Reforms and Reserve Strategy
   While the new FX operations framework has improved transparency and market functioning, staff have highlighted the need to educate the public, and to diversify reserve assets to limit concentration risks, particularly around gold holdings.

2. Financial Sector Stability and Credit Transmission
   .
   The banking sector remains sound, but asset quality and recapitalisation risks for a few institutions must be addressed.

A healthy credit channel is essential to sustaining the emerging growth momentum.

Colleagues, Ghana’s macroeconomic path is stabilising, and the foundations for sustained growth are strengthening. The task before us is to protect this stability while supporting the real sector’s recovery. Our decisions today must reinforce confidence, signal predictability, and keep the economy on its path toward higher, job-rich growth.
I look forward to your perspectives as we examine the data more closely and agree on the policy stance that best balances these priorities.
Thank you.

November 24, 2025

The Private Newspapers and Online News Publishers Association of Ghana (PRINPAG) expresses its profound appreciation to the Government of Ghana for its bold proposal to establish a National Media Fund.

This initiative comes at a pivotal moment when the media industry is grappling with escalating operational costs, dwindling advertising revenue, limited access to training opportunities, and growing sustainability challenges—particularly among smaller and privately owned media organisations.

These pressing constraints pose a significant threat to media independence, vibrancy, and long-term viability, making the establishment of the Fund both timely and essential.

PRINPAG respectfully acknowledges President John Dramani Mahama for his thoughtfulness and longstanding commitment to media development. We recall that he first introduced the concept of a national media support mechanism during his first term in office, although its objectives could not be fully realized before the conclusion of that administration in 2016.
His renewed leadership and demonstrated dedication to national progress give us confidence that the vision he once championed for media advancement will now be realized. PRINPAG remains hopeful that this new effort to activate and implement the Media Development Fund will come to fruition.

While welcoming the proposal, PRINPAG urges the Government to expedite the processes toward the establishment and operationalization of the Fund to ensure timely support for journalists and media institutions across the country.
.
To guarantee transparency, independence, and effective administration, PRINPAG proposes that the Media Development Fund be anchored on strong governance structures. These should include a dedicated Secretariat, a Fund Administrator, and an Independent Board of competent and experienced individuals to ensure professional management of the Fund.

PRINPAG also calls on media stakeholders, development partners, civil society organisations, the private sector, and the general public to support this initiative and rally behind efforts to strengthen Ghana’s media ecosystem.

A resilient and independent media remains critical to deepening democracy, enhancing accountability, and advancing national development.
PRINPAG reaffirms its commitment to working with the Government and all stakeholders to build a free, vibrant, and sustainable media environment in Ghana.
Signed:

David Tamakloe Emmanuel Opare Djan
President

Public Affairs & External Relations Officer-
0244 709 816 0244 699 294