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Ahafo

Ghana’s gold reserves hit GH₵46billion in April 2025

The Bank of Ghana’s gold reserves reached a valuation of approximately GH₵46.3 billion at the end of April 2025 per the central bank’s announcement on May 6 that the price of gold had risen to GH₵46,086.32 per ounce. According to official data published by the Bank of Ghana, the nation’s total gold holdings stood at 31.37 tonnes as of April 30, 2025. This translates to 1,008,837.07 ounces of gold, using the standard conversion of 32,150.7 ounces per metric tonne. Multiplying the total ounces by the official spot price gives a calculated value of GH₵46,439,963,249.28, marking a rapid rise in the country’s reserves and underlining gold’s importance as a strategic financial asset for the Ghanaian economy.The central bank has gradually increased its reserves over the past two years, starting from 8.78 tonnes in May 2023 to over 31 tonnes by April […]

Ahmad May 6, 2025

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Ahafo

See list of 701 diplomatic, service passports cancelled because holders failed to return them

The Ministry of Foreign Affairs has cancelled 701 diplomatic and service passports because the holders failed to return them as directed.The cancellation takes effect from May 6, 2025. They are made up of 341 diplomatic and 360 service passports.The Ministry of Foreign Affairs in January 2025 directed a recall of all Diplomatic and Service Passports issued during the previous administration, specifically naming a broad range of former officials and other individuals required to return their travel documents. The Ministry of Foreign Affairs named the bearers of such passports as former ministers and their spouses, former Members of Parliament across all political affiliations, retired Justices of the Superior and Lower Courts, former Regional Ministers, Metropolitan, Municipal, and District Chief Executives, Chief Executive Officers of state institutions, chairs, and members of boards, officials of the National Cathedral Project, former Political Ambassadors and […]

Ahmad May 6, 2025

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BRONG AHAFO

Facebook facing lawsuits in Ghana over impact of extreme content on moderators

Lawyers are gearing up for court action against a company contracted by Meta, which owns Facebook and Instagram, after meeting moderators at a facility in Ghana that is understood to employ about 150 people. Moderators working for Majorel in Accra claim they have suffered from depression, anxiety, insomnia and substance abuse as a direct consequence of the work they do checking extreme content.The allegedly gruelling conditions endured by workers in Ghana are revealed in a joint investigation by the Guardian and the Bureau of Investigative Journalism. It comes after more than 140 Facebook content moderators in Kenya were diagnosed with severe post-traumatic stress disorder caused by exposure to graphic social media content.The workers in Kenya were employed by Samasource, an outsourcing company that carries out content moderation for Meta using workers from across Africa. Majorel, the company at the centre […]

Ahmad April 27, 2025

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General

BoG Governor leads Africa’s call for urgent debt restructuring at World Bank/IMF meeting

The Governor of the Bank of Ghana, Dr Johnson Asiama, speaking on behalf of African Governors, stressed that urgent international intervention is needed to prevent a full-blown economic crisis across the continent. Debt servicingDr Asiama revealed that nearly half of Sub-Saharan African countries are either at high risk of debt distress or already trapped in it.He noted with concern that many nations are now spending more on debt repayments than on essential services such as health and education. This alarming trend, he said, has been worsened by a combination of global shocks, including the lingering effects of the COVID-19 pandemic, geopolitical tensions, climate disasters, and tightening financial conditions.“Africa’s per capita spending on interest payments now exceeds investments in health and education,” Dr Asiama said.He added: “This is unsustainable and demands immediate action from the international community.”Four-pronged solutionThe African Governors outlined […]

Ahmad April 24, 2025

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ASHANTI

Finance Ministry submits bill to Parliament to end sole-sourcing of power contracts

Finance Minister Dr Cassiel Ato Forson made the announcement on April 23 2025, during a session on the Ghana Energy Compact under Mission 300, organised by the World Bank. He said the proposed regulation is aimed at improving transparency in power procurement and securing better value for money.“We have submitted the LI to Parliament to make competitive procurement of power plants the standard approach,” Dr Forson said. “If we are serious about fixing the deep-rooted problems in the energy sector, this is a necessary step.” Dr Forson described the energy sector as the country’s most pressing economic challenge, revealing a current financial shortfall of about US$2 billion.He attributed much of the gap to inefficiencies across the energy value chain, particularly at the Electricity Company of Ghana (ECG).“ECG alone could reduce the shortfall by half if it addressed its internal challenges,” […]

Ahmad April 23, 2025

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General

Govt to Scrap E-Levy and COVID Levy in 2025 Budget

The government of Ghana has confirmed that it will abolish both the E-Levy and the COVID Levy in the upcoming 2025 budget, which will be presented on March 11, 2025. Felix Kwakye Ofosu, the Minister of State for Government Communications, shared this development during a press briefing in Accra on March 10. These changes are part of the government’s 120-day Social Contract, which includes 26 key pledges aimed at revitalizing the economy and easing the financial burden on citizens.In addition to scrapping the levies, the government is also planning a review of taxes and levies on vehicles and equipment imported for industrial and agricultural purposes. Other significant promises include launching the 24-Hour Economy Policy, introducing a ‘No-Academic-Fee’ policy for all first-year public tertiary students, and establishing a Women’s Development Bank. Furthermore, job creation initiatives are a priority within the budget.Ofosu […]

Edem 4Style March 10, 2025

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VOLTA

Ho Municipality Set to Attain Metropolitan Status.

The Ho Municipality in the Volta Region is on track to becoming a metropolitan area due to the steady growth in its population and economic activities. The municipal authorities, along with the Ministry of Local Government and Rural Development, are working on the necessary processes to elevate the municipality to metropolitan status.With its booming commercial sector, educational institutions, and strategic location, Ho is attracting investments and development projects that will enhance its urbanization. This move is expected to further boost infrastructure development, create more job opportunities, and improve public services for residents. The decision comes after several consultations and assessments, showing that Ho meets the required criteria for a metropolitan upgrade.Residents and stakeholders have expressed optimism that this development will propel the Volta Region’s capital to greater heights, making it a major hub for economic and social activities.

Edem 4Style October 24, 2024

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Entertainment

Mars Attackers

In a landmark development, the tech industry has unveiled an innovative solution that promises to revolutionize the way businesses operate. The breakthrough, dubbed "SyncPro", is a cutting-edge software platform designed to streamline communication and enhance productivity in the workplace. The innovation is here "We believe SyncPro will redefine the future of work" says John Doe, CEO of Tech Innovations Inc. "By leveraging advanced technologies, we're empowering businesses to adapt and thrive in an increasingly competitive landscape." SyncPro harnesses the power of artificial intelligence and machine learning to optimize workflows and automate routine tasks. Its intuitive interface integrates seamlessly with existing systems, allowing for effortless data synchronization across departments and devices. This enables real-time collaboration and decision-making, fostering a more agile and responsive business environment. The Code behind the innovation // This is an example code /* =================================== */ Additional functionalities […]

Muhammad Saminu May 14, 2024

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Travel

The Best Travel Apps: Streamlining Your Journey

In a landmark development, the tech industry has unveiled an innovative solution that promises to revolutionize the way businesses operate. The breakthrough, dubbed "SyncPro", is a cutting-edge software platform designed to streamline communication and enhance productivity in the workplace. The innovation is here "We believe SyncPro will redefine the future of work" says John Doe, CEO of Tech Innovations Inc. "By leveraging advanced technologies, we're empowering businesses to adapt and thrive in an increasingly competitive landscape." SyncPro harnesses the power of artificial intelligence and machine learning to optimize workflows and automate routine tasks. Its intuitive interface integrates seamlessly with existing systems, allowing for effortless data synchronization across departments and devices. This enables real-time collaboration and decision-making, fostering a more agile and responsive business environment. The Code behind the innovation // This is an example code /* =================================== */ Additional functionalities […]

Muhammad Saminu May 14, 2024

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Entertainment

Changing Landscape of Music and Entertainment

In a landmark development, the tech industry has unveiled an innovative solution that promises to revolutionize the way businesses operate. The breakthrough, dubbed "SyncPro", is a cutting-edge software platform designed to streamline communication and enhance productivity in the workplace. The innovation is here "We believe SyncPro will redefine the future of work" says John Doe, CEO of Tech Innovations Inc. "By leveraging advanced technologies, we're empowering businesses to adapt and thrive in an increasingly competitive landscape." SyncPro harnesses the power of artificial intelligence and machine learning to optimize workflows and automate routine tasks. Its intuitive interface integrates seamlessly with existing systems, allowing for effortless data synchronization across departments and devices. This enables real-time collaboration and decision-making, fostering a more agile and responsive business environment. The Code behind the innovation // This is an example code /* =================================== */ Additional functionalities […]

Muhammad Saminu May 14, 2024

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