Finance Minister Dr Ato Forson is expected to present the 2026 Budget Statement and Economic Policy to Parliament on November 13, Joy Business has learned from persons familiar with the preparation process.
The proposed date, which is subject to parliamentary approval, will mark the government’s first major budget presentation since winning the 2024 elections and having nearly nine months to steer the economy.
Some analysts have observed that the 2025 Budget largely operated within the framework established by the previous administration.
Under the Public Financial Management Act, the Finance Minister—acting on behalf of the President—is required to present the national budget to Parliament no later than November 15 each year.
Dr Ato Forson
The Finance Ministry has reportedly completed several rounds of stakeholder engagements and industry consultations to finalise the policies and programs that will feature in the 2026 Budget.
Dr Forson has indicated in earlier interviews that the 2026 Budget will focus on job creation and economic growth stimulation.
Sources also suggest that the Finance Minister is set to introduce new policy measures aimed at reforming the tax system and improving revenue mobilisation.
According to the Commissioner-General of the Ghana Revenue Authority (GRA), Anthony Sarpong, the 2026 Budget will include a review of the Value Added Tax (VAT), with the effective rate expected to be reduced from 22% to 20%.
This adjustment is part of ongoing reforms to simplify the VAT structure and make it more business-friendly.Additionally, Dr Forson is expected to review several tax levies, including the COVID-19 levy, as part of efforts to ease the tax burden on businesses and households.
With Ghana set to exit the IMF programme in May 2026, attention will also be on how the Finance Minister plans to manage the economy in the post-programme period.
The 2026 Budget will, therefore, be one of the government’s most significant economic policy documents, setting the tone for fiscal management and growth strategy after the IMF programme.
Another key area of interest for industry players and economists will be how Dr Ato Forson intends to manage the fiscal deficit and expenditure in 2026 while maintaining macroeconomic stability.Source: Joy Business
Alex Apau Dadey, the distinguished Executive Chairman of KGL Group, has been celebrated with the prestigious Forbes Best of Africa Corporate Leadership and Innovation Award at a high-profile Leadership and Philanthropy Forum held at the House of Lords in London.
The award was formally presented by Mark A. Furlong, President of Custom Solutions Media for Forbes Media, who commended Mr. Dadey’s exceptional achievements in steering KGL Group to remarkable technological heights.
Presenting the honor, Mr. Furlong stated:
“On behalf of the Forbes Best of Africa Award Committee, it is my honor to present to you the Forbes Best of Africa Corporate Leadership & Innovation Award.”
The official citation praised Mr. Dadey’s transformative leadership:
“As Executive Chairman of KGL Group, you have successfully led the company’s expansion into digital solutions, fintech, and technology-driven platforms that have revolutionized Ghana’s lottery and gaming industry while fostering financial inclusion. Under your stewardship, KGL Group has risen to become a leading African corporate brand, exemplifying innovation, social impact, and sustainable business practices.”
Receiving the award alongside his wife and children, Mr. Dadey expressed heartfelt appreciation:
“I am truly humbled by this recognition. My sincere gratitude goes to the Forbes team for this honor, and to the extraordinary team at KGL Group, including our Board, Management, and Staff, whose dedication has made this possible. I want to encourage all Africans in the diaspora to return home and contribute their knowledge to building the continent. After living in London for over 20 years, I made the decision to return to Ghana to serve and create impact. Ten years on, I am proud to have built one of Ghana’s most successful technology-driven businesses, and I am honored that Forbes recognizes this journey.”
The Forbes Best of Africa Awards celebrate visionary business leaders who are building globally competitive enterprises while making significant contributions to Africa’s economic and social development.
Other distinguished honorees included:
• Dr. Olasupo Olusi, Managing Director and CEO of Nigeria’s Bank of Industry (BOI), the country’s oldest and largest development finance institution
• Prince Nnamdi Ekeh, Group CEO of Konga, renowned for advancing e-commerce, digital infrastructure, and payments across emerging markets.
CSR Dominance of KGL Group in Ghana:
Apart from leading KGL Group to become the leading corporate brand in Africa, Mr. Alex Dadey has also achieved significantly in the areas of Corporate Social Responsibility(CSR) and Corporate Social Investment(CSI) projects in Ghana including sponsoring the Ghana Black Stars to qualify for the 2026 World Cup, construction of multimillion-dollar ultra-modern Mental Health Facility in the Ashanti Region in partnership with the King of Ashanti Kingdom, Otumfuo Osei Tutu II, free supply of incubators to various hospitals in Ghana, GHS 3 million annually to support Stabilization Fund of NLA, GHS 2 million annually to support NLA Good Causes Foundation, Scholarships to several orphans & destitute children,
Mr. Alex Dadey receiving his award
sponsorship packages for various charity organizations across Ghana and Africa, and currently steps are being taken by KGL Group to partner Ghana Medical Trust Fund(also known as MahamaCares), a landmark initiative of President John Mahama aimed at providing financial assistance to individuals living with chronic diseases across Ghana.
Mr. Alex Apau Dadey displaying his award
The Mahamacares seeks to cover the cost of care and medication for Non-communicable diseases not currently included under the National Health Insurance Scheme(NHIS), as well as invest in health infrastructure, medical equipment, specialist training, and research to enhance access to quality healthcare delivery in Ghana.
Indeed, Mr. Alex Dadey deserves to be celebrated as a Statesman and successful entrepreneur who uphold service to God, Country, and Humanity, and Forbes Media is proud to be associated with the brand of KGL Group and Mr. Alex Apau Dadey.
As part of NLA’s administrative procedures, the Authority wrote to KGL requesting for Data on Sales and Revenue for 2025. KGL also replied, indicating its willingness to submit the Data on Sales and Revenue fully audited by Internal and External Auditors for the year 2025.
Suddenly, Fourth Estate and Sulemana Briamah are linking their recent brouhaha on “NLA-KGL deal” to the decision by NLA to request for data from KGL.
It is Never true that, Fourth Estate has a credible source at KGL Technology Limited leaking letters to them.
The leadership of KGL Technology Limited knows exactly where Fourth Estate is getting its wrong information from. Their sources are within the National Lottery Authority (NLA), in clear breach of trust, confidentiality, and the Right to Information Act, 2019(Act 989) specifically Sections 10, 11, and 16.
KGL is very much aware that, Fourth Estate’s sources at NLA pressured them to alter their story to deceive the general public that, the insider is at KGL.
Fourth Estate should take note that, their sources at NLA were exposed over the weekend to the leadership of KGL Technology Limited and National Lottery Authority (NLA).
Meanwhile, NLA writing to KGL, Lots Services Ghana Limited, Simnet Ghana Limited, and other collaborators regarding data on sales and revenue is a norm.
NLA Letter to KGL Dated 7th October 2025
“Pursuant to Clauses 12.0 and 17.0, NLA wrote a letter to KGL requesting for access to Records, pre and post draw data, revenue, wins, prize, and prize payments for the period 1st January 2025 to 30th September 2025, and KGL was asked to submit such records on Friday, 10th October 2025 for the purpose of reviewing the operations of KGL for the coming year 2026. ”
NLA’s letter was written on 7th October 2025 but leadership of KGL received the letter officially on 13th October 2025.
I would like to respectfully ask Ghanaians this simple question, were there any elements of breaches or allegations of corruption contained in the letter by NLA addressed to KGL?
For the Director-General of NLA not to even asked for the records of 2019-2024 should tell Fourth Estate and Sulemana Briamah that, KGL has been a very responsible company, led by responsible leadership who have fully ensured the compliance with the Reconciliation processes at NLA from 2019-2024.
KGL’s Response Letter to NLA Dated 17th October 2025
Below is the response of KGL to NLA:
“In light of the scope and volume of data requested by NLA, we respectfully request an extension of time to enable us to accurately collate, verify, and present the information requested for the period 1st January 2025 to 30th September 2025 by 31st October 2025. This extensive exercise is essential to ensure the integrity, accuracy, and completeness of the data to be submitted to the NLA. We look forward to a favourable consideration of our request and extend our thanks in anticipation. We also wish to assure the NLA that the necessary effort and speed is being applied to finalise and submit the requested information as soon as practicable. ”
KGL through Mr. Alex Dadey never asked NLA to defer its request to 2026. Fourth Estate Lied once again.
I would like to ask Ghanaians this simple question as well, “Is asking for Extension of a deadline from 10th October 2025 to 31st October 2025, the same month and year be described as “KGL pushes Back”? Certainly not.
But this is the gospel according to the Fourth Estate and Sulemana Briamah. We need to be serious in this Country.
KGL requesting for an extension to 31st October 2025 is in order considering the fact that KGL only received the letter from NLA on 13th October 2025 though the letter was dated 7th October 2025.
Again, the management of the National Lottery Authority (NLA) fully agreed to the 31st October 2025 submission deadline by KGL because KGL too has to do Reconciliation with MTN, Telecel and AirtelTigo, as well as ensure the submission of Data to NLA which is fully audited and validated both internally and eternally.
However, the facts and records show that, KGL has NEVER failed to submit its DATA to NLA and GRA for reconciliation purposes whenever such requests are made by both entities.
Strictly speaking, KGL has always submitted its Sales and Revenue Data (both properly audited by Internal and External Auditors) to the National Lottery Authority (NLA) and Ghana Revenue Authority (GRA). So, where from the headline that, “NLA strikes! Demands critical data on sales and revenue from KGL but KGL pushes Back”?
With the greatest of respect, Fourth Estate and Media Foundation for West Africa are just on a Fishing Expedition regarding the NLA-KGL deal. They seem to lack understanding of lottery operations, sales and revenue sharing formula. The team at Fourth Estate and Media Foundation for West Africa also lack accurate data, and authentic information on the working relationship between NLA, KGL, Technical Service Providers, and Collaborators.
NLA periodically demanding Data on Sales and Revenue before and after Lotto Draws are NOT new to companies working in the lottery industry, as well as those having partnership with the National Lottery Authority (NLA) since the enactment of Act 722 in 2006.
This has absolutely nothing to do with the work by Fourth Estate and Media Foundation for West Africa on the NLA-KGL deal.
The exchange of letters between NLA, KGL, Technical Service Providers(TSP), and Collaborators are normal routine practices and administrative procedures at the National Lottery Authority (NLA); nothing more, nothing less.
When did the exchange of letters between two companies on agreed schedule become a crime?
If Ghana Revenue Authority (GRA) can get access to the Data of KGL so that the company pays the right taxes to the State, how on earth would NLA struggle to get that same data?
We all want value for money and proper accountability, but the way and manner that Fourth Estate and Sulemana Briamah are going about this issue clearly lack professionalism and ethical considerations.
Fourth Estate and Sulemana Briamah are trying to save face by force after woefully failing to establish “corruption or corrupt-related offence against NLA-KGL deal”.
There is absolutely nothing that KGL can hide from the NLA, GRA, Bank of Ghana, NCA, and the Mobile Telecommunications Companies. The processes are super transparent to all stakeholders working with KGL.
Helping indigenous companies to survive and pay right taxes to the State is the best way to go, not hiding behind jandam journalism to rather undermine indigenous companies doing well in the Country.
Is Fourth Estate and Sulemana Briamah not interested in knowing the amount of money that NLA has received from KGL for the period 1st January 2025 to 30th September 2025 in the name of public accountability and value for Money?
Ghanaians also need to know the amount of money NLA has been able to receive for the period of 1st January 2025 to 30th September 2025 from:
1. Onassis Lotto
2. Licensed Private Lotto Operators and Agents
3. Technical Service Providers
4. Lotto Marketing Companies operating in the Kiosks
5. Licensed Collaborators
Issued by: Razak Kojo Opoku
Former PR Manager of NLA
The leading telecommunications company in the country, MTN Ghana, has intensified cyber security awareness to the general public, especially its staff and customers, to be cautious of the dangers of cyber attacks.
The leadership of the company believes that there is a lot more to be done to ensure that the company is safe from cyber attacks, including its staff, customers and the general public.
As a result, the company organised a cyber security forum for its senior managers in the Northern Business Sector at its Kaase office in Kumasi yesterday.
The month of October is celebrated globally as cyber security awareness month. The annual global cybersecurity awareness month is usually used to educate the general public and businesses to be cautious about online cyber threats.
Some scenes from the forum
It is used to empower the public to protect their data, devices and also encourage everyone to adopt best practices, such as using strong passwords and multi-factor authentication.
Besides, it is used to promote collaboration between government and private sector organisations to increase cyber resilience.
This year’s global cyber security awareness month is on the theme: “Securing our digital future”.
Jacqueline, Charity and Adwoa
In an interview with journalists about the cyber security forum for MTN Ghana senior managers, Jacqueline Hanson-Kotei,
Senior Manager Enterprise Information Security and Governance, said “today’s intervention is very important not only for individuals, staff of MTN but also for businesses and everyone.”
A section of the participants
“We’re living in a…digital space and it has become more than important to protect ourselves because there’s a lot of fraud and scams going on. We do a lot on our phones or internet and even our children at the age of three are conversant with what is going on on the internet, Tiktok, YouTube, among other social media platforms, and they need to be protected. Our families, businesses and individuals all need to be protected,” she stressed.
“I believe today’s intervention is timely and necessary for the staff of MTN and our customers,” she added.
Jacqueline Hanson-Kotei admitted that MTN Ghana has two responsibilities; firstly, to make sure the business is safe from cyber attacks; secondly, to ensure its staff and customers are all safe from cyber attacks.
She disclosed that MTN Ghana is working on a special nationwide intervention to educate students in senior high schools, especially in rural areas and some parts of urban areas, to be well educated about the dangers of cyber attacks.
She advised all Ghanaians to use strong passwords, change passwords regularly, avoid sharing their pins or passwords with others and cultivate the habit of updating security features which should be difficult for someone to trace.
“Let’s be aware that there’s a growing AI powered trends of cyber security attacks. Be cautious that A1 powered attacks are the order of the day, so don’t fall for juice or enticing offers from fraudsters or scammers,” she added.
Integrity and credibility are built on consistency but unfortunately it seems our colleagues at Fourth Estate and Media Foundation for West Africa are gradually undermining their own integrity and credibility in relation to their investigative work about NLA-KGL deal, and I say so due to these facts:
On 19th September 2025, Fourth Estate and Sulemana Briamah claimed that, NLA has exchanged a prime business for a peanut of GHS 170 million from KGL for the year 2025.
On 9th October 2025, Fourth Estate and Sulemana Briamah indicated that, NLA received GHS 157.6 million from KGL for 2024, and surprisingly today, 16th October 2025, Fourth Estate and Sulemana Briamah are misinforming their gullible readers that, “KGL makes millions in profit while NLA makes zero”.
The question many intelligent Ghanaians are asking Fourth Estate and Sulemana Briamah is that, if per their own narrative published on 19th September 2025 and 9th October 2025, if NLA received GHS 157.6 million in 2024 from KGL, and to receive GHS 170 million from KGL in 2025 then on what basis is Fourth Estate telling Ghanaians that, KGL makes millions in profit while NLA makes zero? So, according to the mathematical brains of Fourth Estate, GHS 157.6 million(2024) + GHS 170 million(2025) equals to ZERO PROFIT for NLA?
In total, NLA would obtained GHS 327.6 million(GHS 157.6m + GHS 170 m) from KGL for the financial years of 2024 and 2025.
This amount of GHS 327.6 million paid by KGL to NLA shall definitely goes up if monies NLA received from KGL in 2019, 2020, 2021, 2022, and 2023 are added.
Also, on Monday, 13th October 2025, Fourth Estate published that, “in 2019, for the first year of the NLA-KGL deal, NLA’s PROFIT for the State reduced to GHS 17 million”. So, if NLA could make a profit of GHS 17 million for the State in the first year of NLA-KGL deal in 2019 then why is Fourth Estate turning 360 degrees to say that, “KGL makes millions in profit while NLA makes zero”?
KGL Profit in 2024
For the avoidance of any doubt, KGL make a profit of GHS 70 million while it pays GHS 157.6 million to the NLA. This data clearly shows that NLA rather makes more money than what KGL earned as a profit in 2024.
A fact check from Ghana Revenue Authority(GRA) also indicate that, KGL paid taxes to GRA in 2024, an amount higher than the profit earned by KGL in 2024.
By the end of 2025, both the National Lottery Authority(NLA) and Ghana Revenue Authority(GRA) shall receive payments from KGL which would be eventually higher than the profit of KGL for 2025.
In the beginning of their “JANDAM” investigative journalism, Fourth Estate Lied that KGL was controlling a GHS 3 billion prime business but today, 16th October 2025, the same Fourth Estate and Sulemana Briamah are telling us that, “KGL makes millions in profit while NLA makes zero”. What kind of inconsistency is that. How can a “billionaire KGL” according to Sulemana Briamah and Fourth Estate on 19th September 2025 is now rather “making millions as profit” instead of making billions as profit? This should let the gullible readers of Sulemana Briamah and Fourth Estate understand that, they are being “fooled” by Jandam Journalism.
DEBTS of NLA in the Absence of NLA-KGL deal
From the audited accounts of NLA below were the DEBTS of NLA from 2012-2019:
2012 – – – GHS 16, 754,642.18
2013 – – – GHS 56, 917, 633.63
2014 – – – GHS 11, 597, 177.79
2015 – – – GHS 18, 306, 364.73
2016 – – – GHS 21, 035, 212.20
2017 – – – GHS 14, 601, 385.04
2018 – – – GHS 560, 155.27
2019 – – – GHS 26, 624, 188.53
Based on the aforementioned debts of NLA from 2012-2019, would it be appropriate and justified to put the blame on NLA-KGL deal? Certainly not.
The provisional license of NLA-KGL deal was signed in November 2019, so definitely the deal has no role in the past debts incurred by the NLA.
NLA started making its losses long before KGL was issued exclusive provisional license agreement by NLA in November 2019.
The total debts of NLA BEFORE NLA-KGL deal was around GHS 233, 121, 889.28 million, as accumulated debts, which comprises:
1. Unpaid Lotto Prizes to winners of national lotto.
2. Unpaid Contractors
3. Unpaid Withholding Tax(Income Tax) to Ghana Revenue Authority(GRA).
4. Unpaid SSNIT Contributions.
5. Unpaid Technical Service Providers(TSP) Fees.
6. Unpaid Lotto Commission to Lotto Marketing Companies.
7. Unpaid Provident Fund
8. Unpaid Staff Union and Association Dues Deductions.
Some of the problems of NLA are the:
1. existing revenue sharing agreement with Technical Service Providers(each receiving 6% on the gross revenue generated by the Authority via Point of Sale Terminals).
2. 25% commission to Lotto Marketing Companies retailing lotto products via Kiosks and Point of Sale Terminals(previously it was 20%).
3. Illegal lottery operations.
4. Higher Win – Ratios
5. No capping on the amount of money used for staking Lotto by the public.
NLA Transfers to Consolidated Fund Has Nothing to do with NLA-KGL Deal
The duty of NLA to transfer money to the Consolidated Fund is a political and management decision which has absolutely nothing to do with NLA-KGL deal.
The responsibility of KGL is to pay its fees to the NLA in accordance with the terms and conditions of its license agreement.
What NLA does with the money paid by KGL is NOT the business of KGL, just like KGL cannot dictate to Ghana Revenue Authority(GRA) on how it uses the taxes paid by KGL to the State.
Would you also blame KGL if GRA is unable to transfer the paid taxes of KGL to the Consolidated Fund?
For the purposes of education, it is extremely difficult to even fault the Board and management of NLA if they fail to transfer monies to the Consolidated Fund on monthly basis as stated in Section 32(4) of National Lotto Act, 2006(Act 722) because Section 32(4) of Act 722 can ONLY be fully implemented if Section 32(3) of Act 722 has been fully implemented.
According to Section 32(3) of Act 722, “The Authority shall pay out of the Lotto Account prize monies for winners of National Lotto and commissions to Lotto Marketing Companies licensed by the Authority”. This provision must be satisfied before you can proceed with the implementation of Section 32(4) of Act 722 which states that, “The Authority shall transfer the net balance in the Lotto Account on monthly basis to the Consolidated Fund”.
So, what if there is NO net balance in the Lotto Account after the payments of:
1. Prize monies for winners of National Lotto as stated in Section 32(3) of Act 722?
2. Commissions to Lotto Marketing Companies licensed by the Authority as stated in Section 32(3) of Act 722?
3. Operational and capital expenditure from the Lotto Fund as stated in Section 50 of Act 722?
For political expediency, the NLA mostly rob winners of national Lotto, Lotto Marketing Companies, Technical Service Providers, operational and administrative expenditures in order to transfer money into the Consolidated Fund. For instance, the NLA in:
(a). 2012, transferred GHS 20, 000,000.00 to the Consolidated Fund yet the Authority was indebted to winners of national lotto, Lotto Marketing Companies, Technical Service Providers etc. at a cost of GHS 16, 754, 642.18.
(b). 2013, transferred GHS 25, 000, 000.00 to the Consolidated Fund yet the Authority was indebted to winners of national lotto, Lotto Marketing Companies, Technical Service Providers, etc. at cost of GHS 56, 917, 633.63
(c). 2014, transferred GHS 11, 850, 000.00 to the Consolidated Fund yet the Authority was indebted to winners of national lotto, Lotto Marketing Companies, Technical Service Providers etc. at a cost of GHS 11, 597, 177.79.
(d). 2015, transferred GHS 33, 270, 000.00 to the Consolidated Fund yet the Authority was indebted to winners of national lotto, Lotto Marketing Companies, Technical Service Providers etc. at a cost of GHS 18, 306, 364.73
(e). 2016, transferred GHS 16, 000, 000.00 to the Consolidated Fund yet the Authority was indebted to winners of national lotto, Lotto Marketing Companies, Technical Service Providers etc. at a cost of GHS 21, 035, 212.20.
(f). 2017, transferred GHS 30, 000, 000.00 to the Consolidated Fund yet the Authority was indebted to winners of national lotto, Lotto Marketing Companies, Technical Service Providers etc. at a cost of GHS 14, 601, 385. 04
(g). 2018, transferred GHS 33, 927, 000.00 to the Consolidated Fund yet the Authority was indebted to winners of national lotto, Lotto Marketing Companies, Technical Service Providers etc. at a cost of GHS 560, 155.27
(h). 2019, transferred GHS 16, 962, 000.00 to the Consolidated Fund yet the Authority was indebted to winners of national lotto, Lotto Marketing Companies, Technical Service Providers etc. at a cost of GHS 26, 624, 188.53
(i) 2020, transferred GHS 22, 400, 495.24 to the Consolidated Fund yet the Authority was indebted to winners of national lotto, Lotto Marketing Companies, Technical Service Providers, Contractors, Suppliers etc. at a cost of GHS 66, 725, 129.91
From the evidence above based on Facts and Data, it is very clear that, in order for NLA to transfer monies to the Consolidated Fund in accordance with Section 32(4) of Act 722, there is the need for the NLA to breach Section 32(3) of Act 722. This has always been the case from enactment of National Lotto Act, 2006(Act 722).
From 2012-2020(9years), NLA transferred a total amount of GHS 209, 409, 495.24 to the Consolidated Fund yet within that same period of 2012-2020, NLA was indebted to winners of national lotto, Lotto Marketing Companies, Technical Service Providers, Suppliers etc. at a cost of GHS 233, 121, 889.28
So what is the justification for Fourth Estate and Sulemana Briamah to needlessly blame KGL Technology Limited as the cause of NLA inability to transfer money to the Consolidated Fund in accordance with Section 32(4) of Act 722? Completely no basis at all.
And why should NLA necessarily transfer monies to the Consolidated Fund if they haven’t been able to pay winners of national lotto, commissions to Lotto Marketing Companies, Fees to Technical Service Providers, Salaries and benefits of NLA Workers etc.?
KGL Contributions to National Development of Ghana
About 50-70% of KGL’s Profits are invested into Corporate Social Responsibility(CSR) and Corporate Social Investments(CSI) across the country to champion national development, and some of the CSR and CSI activities of KGL are as follows:
1. Construction of multimillion-dollar ultra-modern Mental Health Facility in Kumasi in collaboration with Otumfuo Osei Tutu II.
2. Face-lift for Accra Psychiatric Hospital.
3. Support to Akropong School for the Blind.
4. Donations to Flood Victims at Keta
5. Democracy Cup initiative by the Parliament of Ghana.
6. Sponsorship to Ghana Football Association
7. Sponsorship to Ghana Black Stars and other National Football Teams.
8. Millennium Marathon
9. Scholarships to Orphans, Needy, and Destitute Children.
10. Two Million Ghana Cedis annually to support NLA Good Causes Foundation.
11. Three Million Ghana Cedis annually to support NLA-KGL Stabilization Fund.
12. Refurbishment of NLA’s Draw Studio, Brennan Hall.
13. Payments of Live Lotto Draws of NLA
14. Several others not mentioned.
….. Signed….
Razak Kojo Opoku(PhD)
Former PR Manager of NLA.
