Day: July 24, 2025

Accra: The Government of Ghana has announced plans to implement a comprehensive Value Added Tax (VAT) and broader tax reforms this year, aimed at addressing distortions, enhancing compliance, and boosting revenue generation. This was announced by Dr. Cassiel Ato Forson, Minister for Finance, during the presentation of the 2025 Mid-Year Fiscal Policy Review to Parliament on July 24, 2025. According to Ghana News Agency, the reforms seek to overhaul the current VAT structure, which has been identified as having cascading effects and distortions. To this end, the government has successfully concluded its engagement with the International Monetary Fund (IMF) for

Accra: Dr Cassiel Ato Forson, the Minister of Finance, says the Ghana Audit Service is expected to recover about GHS150.4 million of unearned salaries from separated staff who were flagged during the nationwide payroll audit. According to Ghana News Agency, the audit, which is 91 percent complete, has so far identified 14,000 unidentified workers and 53,311 separated staff. These separated staff include individuals who are retired, resigned, terminated, on leave without pay, or deceased, yet they remain on the government payroll. Speaking on the floor of Parliament during the 2025 mid-year budget review, the minister emphasized that the government would

Accra: The MTN Ghana Foundation has reaffirmed its commitment to youth empowerment and digital transformation at the grand finale of the National Youth Mentorship Summit 2025 held at the University of Ghana Business School, Legon. The summit brought together approximately 800 students and young professionals from across the country for a transformative experience focused on mentorship, digital readiness, and leadership development. According to Ghana News Agency, Madam Georgina Asare Fiagbenu, Senior Manager, Corporate Communications at MTN Ghana, emphasized the company’s passion for equipping Africa’s youth with the skills required to thrive in a digital future. She stated, “MTN is proud

Accra: Ghana has saved GHS4.9 billion in domestic interest payments following a steep fall in Treasury Bill rates during the first half of 2025. Delivering the Mid-Year Budget Review in Parliament on Thursday, Dr Cassiel Ato Forson, Minister of Finance, attributed the gains to government’s prudent ‘debt management strategy’ and ‘improved investor confidence’ in the domestic market. According to Ghana News Agency, Dr Forson highlighted that the 91-day T-Bill rate has reduced by 13.2 percentage points, from 27.7 percent in December 2024 to 14.7 percent in June 2025. Similar trends were observed across the 182-day and 364-day instruments. The 182-day

Accra: The Government has set out to construct a combined 5,000km of roads in 166 constituencies in dire need of road infrastructure in the next three years. Each constituency will benefit from 10km of roads annually as part of a deliberate effort to bridge the road infrastructure gap in the country. According to Ghana News Agency, delivering the 2025 Mid-Year Budget in Parliament on Thursday, Dr. Cassiel Ato Forson, the Finance Minister, stated that roads in the 166 constituencies were in dire need of rehabilitation, hence the intervention. The Finance Minister mentioned that the Minister for Roads and Highways would

Accra: The National Investment Bank (NIB) has reached a significant milestone in its journey towards profitability and sustainability, as announced by Mr. Cassiel Ato Baah Forson, the Minister of Finance. The bank now boasts a total paid-up capital of GHS3.4 billion and a capital adequacy ratio of 23 percent. According to Ghana News Agency, the government injected GHS450 million in cash into NIB, issued marketable bonds with a face value of approximately GHS1.5 billion, and transferred GHS500 million of Ghana’s shares in Nestle Ghana Limited to the bank. This was part of an ambitious plan by the government to recapitalize

Accra: Gold exports from the small-scale mining sector in Ghana reached an impressive 51.5 tonnes, valued at approximately US$5 billion, in the first half of 2025, as revealed by Dr Ato Forson, the Minister for Finance. This significant achievement marks a major increase from the 26.4 tonnes valued at US$1.8 billion recorded during the same period in 2024. According to Ghana News Agency, Dr Forson presented these findings during the 2025 Mid-Year Budget Review in Parliament, highlighting the reforms introduced by the recently established Ghana Gold Board (GOLDBOD) since April 2025. These reforms include changes to the licensing regime and