A highly respected economist and public servant, Dr. Iddrisu brings more than 27 years of distinguished experience in economic policy management, statistical research, public finance, and institutional reform. His appointment marks a new era of strategic leadership, evidence-based decision-making, and enhanced national development planning.

A Foundation Built on Statistical and Economic Excellence

Dr. Iddrisu began his journey in economics and statistics with a Bachelor of Arts degree in Economics and Statistics from the University of Ghana, Legon. He went on to earn an MPhil in Economics from the same institution, followed by a PhD and Master’s in International Development Studies from the National Graduate Institute for Policy Studies (GRIPS) in Tokyo, Japan.

With a strong academic foundation rooted in both theory and applied research, he has consistently approached public service through the lens of rigorous data analysis and empirical evidence.

Leadership at the Core of National Policy

Over nearly three decades, Dr. Iddrisu has held some of the most critical leadership roles in Ghana’s Ministry of Finance.

As Chief Economics Officer and Director of the Economic Strategy and Research Division (ESRD), he has led strategic policy formulation, macroeconomic forecasting, and fiscal management. His leadership was pivotal in negotiating Ghana’s US$3 billion IMF Extended Credit Facility programme in 2023, ensuring swift disbursements that supported the nation’s economic recovery.

He has also spearheaded the preparation of Ghana’s Fiscal Strategy Documents, Mid-Year Reviews, and Annual Budgets, ensuring that statistical integrity and economic modeling remained at the heart of government planning.

A Champion of Data-Driven Governance

Dr. Iddrisu’s approach to public finance and economic strategy is deeply rooted in statistical rigor. He has overseen the production of essential national reports, including Annual Macroeconomic Performance Reports, Fiscal Risks Statements, and Petroleum Fund Reconciliation Reports. These publications have become cornerstones of fiscal transparency and accountability in Ghana.

He also led the drafting of the 2024 Fiscal Responsibility Amendment Bill, which introduced a national debt rule and established an independent fiscal council—an institutional innovation that aligns perfectly with the mission of the Ghana Statistical Service to provide credible, timely, and relevant statistics for development.

Innovating for Transparency and Public Engagement

Recognizing the need for public engagement in economic discourse, Dr. Iddrisu introduced the Monthly Economic Updates and launched the Quarterly Economic Roundtable in collaboration with the University of Ghana. These initiatives have made complex economic issues more accessible to the public, academic institutions, and the media—fostering trust and broadening the reach of government data.

He also institutionalized the Social Partnership Council, a platform that brings together government, organized labour, and the private sector to align policy with the realities on the ground.

A Global Perspective, A Local Focus

Dr. Iddrisu has represented Ghana at high-level forums around the world, including the IMF, World Bank, African Union, and ECOWAS. His international engagements have shaped bilateral and multilateral negotiations, particularly in areas such as public finance management, climate financing, and economic integration.

In addition to his global presence, Dr. Iddrisu has contributed to capacity building across the region, serving as a consultant and facilitator in Liberia, The Gambia, Nigeria, and for several West African institutions. His deep understanding of both local dynamics and international best practices makes him uniquely equipped to elevate Ghana’s statistical systems to global standards.

A Respected Educator and Mentor

Beyond his public service, Dr. Iddrisu has maintained a strong commitment to education and mentorship. He has taught at GIMPA, the University of Ghana, and served as a resource person in training programs organized by WAIFEM, UNDP, and JICA. His mentorship has helped shape the next generation of economists, statisticians, and policymakers in Ghana and beyond.

Recognized for Excellence

His contributions have not gone unnoticed. Dr. Iddrisu has been awarded Overall Best Director in the Ghana Civil Service four times—in 2018, 2019, 2020, and 2022. He has also received commendations from both the Ministry of Finance and the Office of the Head of Civil Service for excellence in macroeconomic policy and public service delivery.

The Right Leader for a Data-Driven Era

As Ghana advances its development agenda, the need for a Government Statistician who understands both the science of data and the art of governance has never been more urgent. Dr. Alhassan Iddrisu brings the perfect blend of technical expertise, leadership experience, and a visionary mindset to the role.

He is not only prepared to guide the Ghana Statistical Service into the future—he is poised to redefine how statistics shape the nation’s story.

CURRICULUM VITAE
DR. ALHASSAN IDDRISU

1. BRIEF PROFILE
Dr. Alhassan Iddrisu is a distinguished economist with over 27 years of expertise in economic
policy management, public finance, development economics, climate change financing,
petroleum revenue management, and economic integration. He has
an extensive publication record in these domains and has made
significant contributions to Ghana’s economic development.
Currently, Dr. Iddrisu serves as the Chief Economics Officer and
Director of the Economic Strategy and Research Division (ESRD) at
Ghana’s Ministry of Finance. In this capacity, he leads strategic
economic research, policy analysis, and the formulation and
implementation of policies aimed at advancing the nation’s economic goals.
Over the years, Dr. Iddrisu has held several key leadership roles within the Ministry of Finance.
These include Director of the Economic Planning Division (EPD), the Real Sector Division (RSD),
and the Economic Research and Forecasting Division (ERFD). His leadership and expertise have
been instrumental in shaping Ghana’s economic policies and strategies.
Beyond his work at the Ministry, Dr. Iddrisu has served on numerous governing boards, councils,
and committees, where his extensive knowledge and leadership have significantly influenced
national development initiatives. He has also collaborated with leading global organizations,
including the International Monetary Fund (IMF), World Bank, African Union (AU), and Economic
Community of West African States (ECOWAS), and has consulted for various international and
local institutions.
Dr. Iddrisu’s outstanding contributions to public service have earned him multiple accolades,
including being named “Best Director” in Ghana’s Civil Service for four years (2018, 2019, 2020,
and 2022). These awards recognize his exceptional performance, commitment, and dedication
to duty.
Dr. Iddrisu’s teaching engagements reflect his commitment to academic excellence, capacitybuilding, and knowledge dissemination in key areas of economics, public policy, and
development contributing to the education and professional development of students and
government staff alike.
Dr. Iddrisu holds a PhD and Master’s degree in International Development Studies from the
National Graduate Institute for Policy Studies (GRIPS) in Tokyo, Japan. He also earned an MPhil
in Economics and a BA in Economics and Statistics from the University of Ghana, Legon.
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2. PERSONAL INFORMATION
Name: Alhassan IDDRISU (PhD)
Mailing Address: BD166, Abayateye St. GK-0529-9217, Community 24,
Tema, Ghana
Telephone: +233-24-8326300/ +233-20-203-0280
Email: aiddrisu@mofep.gov.gh /aiddrisu370@gmail.com
Nationality: Ghanaian
3. PROFESSIONAL SUMMARY/OBJECTIVE
Dr. Alhassan Iddrisu is a distinguished economist with over 27 years of expertise in economic
policy management, public finance, development economics, and climate change financing.
Currently serving as the Chief Economics Officer and Director of the Economic Strategy and
Research Division (ESRD) at Ghana’s Ministry of Finance, he has led strategic economic
research and policy analysis, significantly contributing to Ghana’s economic development.
Dr. Iddrisu’s leadership roles and collaborations with global organizations like the IMF and
World Bank highlight his ability to drive impactful economic policies.
His extensive knowledge, commitment to public service, and proven track record make him
an excellent fit for a top management role in Ghana’s public service, where he can continue
to advance the nation’s economic goals.
4. KEY SKILLS & COMPETENCIES
Dr. Iddrisu brings a wealth of skills and competencies that make him an ideal candidate for
a top management role in Ghana’s public service.
Economic & Fiscal Policy Analysis:
• Expertise in conducting macroeconomic policy analysis and forecasting and
providing policy advisory services and economic research to drive national policy
decisions.
• Deep knowledge in designing and implementing fiscal strategies and frameworks,
including the preparation of budgetary documents, fiscal risk analysis, fiscal rules,
fiscal council, and medium-term budget planning.
• Skilled in using data-driven models and tools for economic analysis, forecasting, and
resource allocation.
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Problem-Solving & Critical Thinking:
• Ability to analyze complex economic and fiscal data to develop innovative solutions
to national and regional challenges.
• Demonstrated capability in using critical thinking to influence policy changes and
optimize economic outcomes.
Leadership and Team Management:
• Proven leadership and team management skills, directing and monitoring staff
performance to ensure high-quality outputs.
• Ability to supervise and guide staff in high-pressure, fast-paced environments while
ensuring top-quality outputs.
• Experience in facilitating cross-functional teams for national and international
projects, including those on fiscal policy and economic management.
Global Collaborations and Negotiations:
• Collaborated with global organizations like the IMF and World Bank, driving
impactful economic policies.
• Extensive experience representing national interests in regional and international
fora, such as the IMF, ECOWAS, and the African Union.
• Proven track record in negotiating key agreements related to fiscal management,
including wage negotiations and international development financing.
Research, Capacity Building and Mentorship:
• Committed to public service and capacity-building, reflected in teaching
engagements and mentorship of numerous officers.
• Strong research background, producing key policy documents, reports, and
economic papers.
• Skilled in use of relevant econometrics software such as E-views and Stata and able
to use Ms-Office packages for policy analysis and presentations.
• Skilled in assessing and designing capacity-building strategies for public institutions,
both domestic and international.
Communication and Stakeholder Engagement:
• Strong verbal and written communication skills, capable of producing clear,
concise, and persuasive reports, policy briefs, and presentations.
• Adept at engaging stakeholders at various levels, including government
agencies, international bodies, and civil society organizations.
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5. RELEVANT WORK EXPERIENCE
5.1 Director, Economic Strategy and Research Division (ESRD)
Ministry of Finance, Ghana (April 2019 to Date)
5.1.1 Duties and Responsibilities
As Chief Economics Officer and Director of the Economic Strategy and Research Division
(ESRD) at Ghana’s Ministry of Finance, Dr. Iddrisu:
i. Macroeconomic Analysis and Policy Development:
• Leads macro-fiscal policy and risk analysis to provide actionable policy
advice.
• Supervises macroeconomic research on global developments, economic
integration, and growth, emphasizing employment and income distribution.
ii. Sector-Specific Policy Advisory:
• Conducts in-depth policy analysis on energy and petroleum activities across
upstream, midstream, and downstream operations.
iii. Fiscal Strategy and Budget Development:
• Coordinates the preparation of key fiscal documents, including the Fiscal
Strategy Document and the Mid-Year Fiscal Policy Review.
• Contributes to the annual Budget Statement and Economic Policy
formulation.
iv. Reporting and Communication:
• Oversees the production of comprehensive economic reports and leads the
publication of monthly updates on Ghana’s economy.
• Establishes and sustains platforms for public and academic engagement on
economic issues, such as the Quarterly Economic Round-Table.
v. Public Sector Wage Negotiation:
• Advises on fiscal implications of wage-related issues and leads negotiations
for wage adjustments.
vi. Team Leadership and Supervision:
• Directs and monitors the performance of ESRD staff, ensuring delivery of
high-quality outputs.
5.1.2 Major Achievements
i. Economic Programme Leadership
• Successfully led Ghana’s technical team in negotiating the US$3 billion IMF
Extended Credit Facility (ECF) Programme in 2023.
• Coordinated technical efforts that enabled the approval of multiple program
reviews, resulting in the rapid release of US$1.92 billion in disbursements
between May 2023 and Dec 2024 and contributing to Ghana’s
macroeconomic stability and recovery.
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• Coordinated the division’s efforts in managing Ghana’s 2015–2019 IMF ECF
Programme, securing SDR 664.20 million (US$920.58 million) in funding and
achieving successful program completion
ii. Institutional and Policy Innovations
• Established Monthly Economic Updates: Instituted and published seven
monthly economic media updates since March 2024, enhancing
transparency and stakeholder engagement.
• Launched Quarterly Economic Round-Table (QER): Partnered with the
University of Ghana to foster public and academic discussions on economic
issues, with two successful sessions in 2024.
iii. COVID-19 Economic Impact Analysis
• Played a leading role in analyzing and mitigating the economic effects of
COVID-19 in Ghana, culminating in the preparation of 13 critical reports and
Cabinet papers, including briefs to access IMF and World Bank funds totaling
over US$1.4 billion.
iv. Strategic Division Management
• Developed and disseminated organizational and orientation manuals for
ESRD, setting clear responsibilities and improving operational efficiency.
v. Fiscal Policy Development and Reporting
• Prepared and coordinated the finalization and submission to Parliament of
the draft amendment bill on fiscal responsibility rules which introduced a
debt rule and an independent fiscal council to monitor adherence to the
fiscal rules (Oct 2024)
• Led the preparation of Ghana’s Fiscal Strategy Documents, Mid-Year
Reviews, and annual budgets, integrating robust macroeconomic and fiscal
frameworks for the period 2019 to present.
• Drafted the portion of PFM Regulation, 2019 (LI 2378) that legislated the role
of the Division responsible for macro-fiscal policy at the Ministry of Finance
(2019)
• Led the preparation and publication of the earmarked funds review strategy
aimed at streamlining the 16 earmarked funds in Ghana towards improved
operational efficiency and addressing budget rigidities and fiscal space issues
• Produced flagship reports, including:
o Annual Macroeconomic Performance Reports (2018–2023).
o Annual Reports on Petroleum Funds (2019–2023).
o Reconciliation Reports on Petroleum Holding Fund (2018–2023).
o Annual Reports on African Union Levy (2019–2023).
o Fiscal Risks Statements (2018–2023).
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vi. Public Sector Wage Negotiations
• Facilitated annual negotiations on public sector wage adjustments,
leveraging scenario analysis to guide fiscal decision-making and ensure
equitable outcomes.
vii. Social Partnership Initiative
• Institutionalized the Social Partnership Arrangement in 2019, fostering
dialogue between Organized Labour, the Ghana Employers Association, and
the Government. Coordinated 12 council meetings, producing actionable
policy recommendations.
viii. Capacity Building and Knowledge Sharing
• Organized over 60 Brown Bag seminars in collaboration with the
International Growth Centre since 2019, offering a platform for research and
policy discussions.
5.2 Director, Economic Research and Forecasting Division (ERFD)
Ministry of Finance, Ghana (April 2013 to 2019)
5.2.1 Duties and Responsibilities
i. Directed macro-fiscal policy research, reviews, and forecasts to support effective
economic management.
ii. Provided robust fiscal risk analyses to inform proactive risk management
strategies.
iii. Supervised the analysis of global and regional economic trends and their
implications for Ghana’s economy.
iv. Coordinated multilateral surveillance missions with institutions such as the IMF,
ECOWAS, and WAMZ, providing analysis and advice on macroeconomic and
economic integration matters.
v. Produced essential economic reports for informed decision-making and public
dissemination.
vi. Oversaw the preparation of key fiscal documents, including the Fiscal Strategy
Document, Mid-Year Fiscal Policy Review, and inputs to the national Budget
Statement and Economic Policy.
vii. Led technical teams during government negotiations with organized labor and
employer associations on wage-related matters.
viii. Supervised, mentored, and evaluated staff performance in the Economic
Research and Forecasting Division.
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5.2.2 Major Achievements
i. Innovations in Policy Documentation and Analysis
• Supervised the preparation of macro-fiscal chapters for key Ministry outputs,
including Budget Statements, Mid-Year Reviews, and the Fiscal Strategy
Document (2013–present).
• Introduced and institutionalized the Annual Macroeconomic Performance
Reports (MPR) since 2014, with consistent publications through 2017.
• Established a comprehensive macroeconomic database (2015) for real-time
updates on fiscal, monetary, and external sector data.
• Initiated the weekly Global Developments Snapshot (2016), providing
concise updates on global economic trends, including commodity prices,
exchange rates, and financial markets.
ii. Leadership in Negotiations and Program Implementation
• Played a pivotal role in negotiating the 2015–2017 IMF Extended Credit
Facility (ECF) Programme, contributing to six successful reviews and program
completion.
• Directed wage negotiations for Base Pay and National Daily Minimum Wage
adjustments (2013–2019), utilizing scenario analyses to inform fiscal
strategies.
iii. Capacity Building and Institutional Development
• Led the development and operationalization of a Financial Programming
Policies (FPP) Model for macroeconomic policy analysis, complemented by a
published textbook and user manual (2018).
• Coordinated the establishment of the Ghana Economic Policy Analysis and
Research Institute (GEPARI) with US$1.5 million funding from ACBF,
enhancing policy research and analysis capacity for state and non-state
actors.
• Created and implemented a comprehensive organizational structure for the
Economic Research and Forecasting Division, defining the vision, mission,
objectives, and staff responsibilities.
iv. Knowledge Sharing and Stakeholder Engagement
• Founded the Brown-Bag Policy Seminar Series (2015) in collaboration with
the International Growth Centre, coordinating 18 seminars on topical
economic issues.
• Represented Ghana’s interests at high-level international forums, including
those of the World Bank, IMF, AU, AfDB, ECOWAS, WAMZ, and WAMA.
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v. Mentorship and Training
• Trained and mentored numerous officers, many of whom have advanced to
leadership roles in various organizations.
• Conducted institutional needs assessments and facilitated the establishment
of research and policy analysis units in Liberia and The Gambia.
5.3 Director (Ag), Real Sector Division (Sept 2010 to April 2013)
Economic Planning Division (Aug 2008 to Sept 2010)
5.3.1 Duties and Responsibilities:
i. Sectoral Policy Analysis and Forecasting
• Conducted in-depth policy analysis and forecasts for key sectors of the
economy, including Agriculture, Industry, and Services, to inform decisionmaking.
• Monitored and evaluated the performance of critical sectors to ensure
alignment with the nation’s desired economic growth trajectory.
ii. Petroleum Revenue Management
• Provided policy advice and conducted forecasts on petroleum revenue,
ensuring effective management and allocation in line with national priorities.
iii. Wage and Wage-Related Negotiations
• Advised on wage and related policy issues, taking a leading role in
negotiations with labor unions and employer associations to ensure fair and
sustainable wage policies.
iv. Budget and Economic Policy Support
• Played an active role in the preparation and implementation of the annual
Budget Statement and Government Economic Policies, providing vital inputs
for macroeconomic planning.
v. Team Leadership and Staff Management
• Supervised and monitored the performance of staff within the Economic
Planning Division, ensuring high productivity and alignment with
departmental goals.
• Led the preparation and timely submission of periodic economic reports to
senior management for informed decision-making.
5.3.2 Major Achievements:
i. Development of Economic Models and Forecasting
• Developed and operationalized a growth model for projecting medium-term
Gross Domestic Product (GDP) and its components, with successful
application in the 2009–2012 Budget Statements.
ii. Petroleum Revenue Management Legislation
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• Played a key role in the preparation of the Petroleum Revenue Management
Bill, which culminated in the passing of the Petroleum Revenue Management
Act (Act 815) in 2011.
iii. Petroleum Revenue Forecasting
• Developed and operationalized a petroleum revenue forecasting model in
compliance with Act 815 for projecting Benchmark Revenue (BR). This model
was successfully used to project petroleum revenue for 2011, 2012, and
2013, directly informing the annual Budgets for those years.
iv. Petroleum Revenue Transparency and Accountability
• Supervised the preparation, publication, and gazetting of quarterly reports
on petroleum receipts for 2011 and 2012, in compliance with Section 6 of the
Petroleum Revenue Management Act (PRMA).
v. Annual Report on Petroleum Revenue
• Led the preparation and publication of the inaugural 2012 Annual Report on
Petroleum Revenue Management, ensuring transparency and compliance
with the PRMA.
6. BOARD AND COMMITTEE MEMBERSHIPS
Dr. Iddrisu’s leadership roles across various boards and committees highlight his extensive
involvement in public policy, economic management, and strategic governance, ensuring
his continued influence in shaping Ghana’s economic strategies and initiatives.
1. Board of Public Procurement Authority
Position: Member | Period: 2022 – 2024
2. Board of Vodafone Ghana Mobile Financial Services Limited
Position: Member | Period: February 2021 – 2024
3. Steering Committee on National Unemployment Insurance Scheme (NUIS) &
Training/Retraining Programmes
Position: Member | Period: October 2020 – Present
4. Social Partnership Council
Position: Secretary | Period: 2019 – 2024
5. National Designated Authority for Ghana – Green Climate Fund
Position: Focal Point | Period: 2019 – 2024
6. Fiscal Risks Committee
Position: Member | Period: 2020 – Present
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7. Economic Policy Coordinating Committee (EPCC)
Position: Secretary | Period: 2019 – Present
8. ECOWAS National Coordinating Committee – Ghana
Position: Chairman | Period: 2013 – Present
9. Public Investment Programme Working Committee
Position: Member | Period: May 2021 – Present
10. Technical Committee on National Unemployment Insurance Scheme (NUIS) &
Training/Retraining Programmes
Position: Member | Period: October 2020 – Present
11. Technical Committee on “Bridging Gap between the National Daily Minimum Wage
and the Single Spine Base Pay”
Position: Chairman | Period: July 2016
12. Technical Advisory Team of the 40-Year Long-Term Development Plan
Position: Member | Period: August 2015 – 2020
13. Compensations Committee
Position: Member | Period: January 2014 – 2020
14. National Accounts Committee
Position: Member | Period: 2015 – 2020
15. IMF Programme Negotiation Committee
Position: Member | Period: August 2014 – April 2015
7. CONSULTANCIES AND SHORT-TERM ENGAGEMENTS
1. Facilitator
Course: Regional Course on Medium-Term Budgetary Frameworks, Budget Planning,
Execution & Procurement, Lagos, Nigeria | Dates: 20th – 22nd August 2024
2. Facilitator
Course: WAIFEM Regional Course on Fiscal Frameworks and Sustainability in West
African Countries | Dates: 10th – 21st October 2022
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3. Facilitator
Course: UG-Economics Department Course on Petroleum Revenue Management and
Allocation, University of Ghana, Accra | Date: 8th September 2022
4. Facilitator
Course: WAIFEM Regional Course on Macro-Fiscal Framework for Medium-Term
Budgeting and Planning, Abuja, Nigeria | Dates: 15th – 19th August 2022
5. Facilitator
Course: WAIFEM Regional Course on Macroeconomic and Public Financial
Management: Debt, Budgeting, Planning & Performance | Dates: June 11th – 22nd,
2018
6. Lead Consultant
Engagement: Policy and Capacity Needs Assessment of the Ministry of Finance and
Development Planning in Liberia, Monrovia| Dates: April – May 2018
7. Facilitator
Course: Regional Training Workshop on Principles of Effective Financial Governance in
ECOWAS Monetary Zone, WAIFEM, National Institute for Legislative Studies, ACBF,
Accra Ghana | Dates: 12th – 16th March 2018
8. Consultant
Engagement: Consultancy for UNDP, Liberia to Assess and Identify Needs for Setting
Up a Research & Policy Advisory Unit in Liberia’s Ministry of Finance & Development
Planning, Monrovia, Liberia | Date: August 2017
9. Consultant
Engagement: Capacity Needs Assessment of the Ministry of Finance and Economic
Affairs of The Gambia, Banjul| Date: September 2017
10. Lead Consultant
Project: Preparation of the “Country Profile: Ghana” Report for the United Nations
Economic Commission for Africa (UNECA), Accra, Ghana | Date: September 2015
11. Discussant
Event: Discussion on “Standard Chartered Bank’s Socio-Economic Impact Report”
Organizers: Institute of Economic Affairs (IEA), Ghana and Standard Chartered Bank
Ghana Ltd, IEA, Accra, Ghana | Date: 3rd March 2014
12. Resource Person
Topic: “The New Macroeconomic Environment in Ghana and Medium-Term Prospects”
Event: Strategic Session of Fidelity Bank Ghana Ltd, Accra, Ghana | Date: 4th February
2016
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13. Resource Person
Topic: “Outlook of the Economy of Ghana 2016-2018 and Key Measures Agreed with
the IMF”
Event: Standard Bank 2015 Board Strategic Session, Accra, Ghana | Date: 13th August
2015
14. Resource Person
Topic: “Petroleum Revenue Management in Ghana”
Event: Monthly Seminar Series of Economic Policy Management (EPM) Programme,
University of Ghana, Accra | Date: April 2013
15. Resource Person
Topic: “Mechanics of Fiscal Budget Preparation: Experiences of Ghana”
Event: Monthly Seminar Series of Economic Policy Management (EPM) Programme,
University of Ghana, Accra | Date: 27th May 2010
8. TEACHING AND ACADEMIC ENGAGEMENTS
1. Part-Time Lecturer
Courses: Economic Policies and Development & Applied Research and Quantitative
Methods
Institution: School of Governance, Leadership, and Public Management, Ghana
Institute of Management and Public Administration (GIMPA), February 2007 – 2009
2. Part-Time Lecturer
Course: Econometrics
Organizer: Capacity building exercise organized by JICA, Ghana, and the Ministry of
Finance and Economic Planning, Ghana on Macroeconomic Policy Tools
Venue: Ministry of Finance and Economic Planning, Ghana, Oct – Dec 2006
3. Part-Time Lecturer
Course: Quantitative Techniques and Economics
Institution: ACCA Study School, Accra, Ghana, Sep 1996 – 2002
4. Teaching and Research Assistant
Duties: Organized tutorials, marked exam scripts, assisted in research activities
including data collection, data analysis, and report writing
Department: Statistics Department, University of Ghana, Legon, Sep 1996 – 1997
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9. INTERNATIONAL CONFERENCES, SEMINARS, AND WORKSHOPS
Dr. Iddrisu’s extensive participation in international conferences and seminars highlights his
leadership in key economic forums, steering influential policy decisions and fostering regional
and international collaborations. Key ones in recent times include:
1. 5
th Extraordinary Session of the AU STC, Abuja, Nigeria, Abuja, 26th – 30th Nov 2024
2. 2024 IMF/World Bank Annual Meetings, Washington DC, USA, 21st
-30th Oct 2024
3. 2024 WAMA Mid-Year Meetings, Dakar, Senegal, 25th – 31st Jul 2024
4. Official Creditor Committee (OCC) and Eurobond Negotiations, Paris, France, 2
nd – 8
th
Jul 2024
5. Official Creditor Committee (OCC) Negotiation, Beijing, China, 14th
-21st Jun 2024
6. Launch of ECO- 2nd High Level Cttee Meeting, Lagos, Nigeria, 27th – 31st May 2024
7. Bank Meeting in London – Cocoa Purchases, London, UK, 29th Apr – 3
rd May 2024
8. 2024 IMF/World Bank Spring Meetings, Washington DC, USA, 15th – 26th Apr 2024
9. 51st Meeting of the Convergence Council Meeting: WAMZ 2023 End Year Meetings,
Abuja, Nigeria, 7
th – 8
th Mar 2024
10. Courtesy Visit to France, Paris, France, 2
nd – 5
th Mar 2024
11. ECOWAS Meeting – Guinea Bissau, 23–27 January 2023
12. West Africa Monetary Zone (WAMZ) Meeting, Gambia, 1–10 Feb 2023
13. Management Board of Special Fund Meeting, Côte d’Ivoire, 27 Feb–1 Mar 2023
14. UNECA Meeting, Ethiopia, 15–23 March 2023
15. IMF/World Bank Spring Meetings, USA, 11–21 April 2023
16. Annual Meetings of the AFDB Group, Egypt, 22–26 May 2023
17. ECOWAS Council of Ministers Meeting, Guinea Bissau, 5–7 July 2023
18. Investor Relations Meeting, London, UK, 16–18 October 2023
19. ECOWAS Council of Ministers Meeting, Abuja, Nigeria, 5–9 December 2023
20. IMF World Bank Spring Meetings, USA, 19–29 April 2022
21. UNECA Meeting, Senegal, 11–18 May 2022
22. ECOWAS Meeting on Single Currency, Nigeria, 8–10 June 2022
23. IMF and World Bank Group Annual Meeting, USA, 10–21 October 2022
24. ECOWAS Council of Ministers Meeting, Nigeria, 1–5 December 2022
25. Senior Officials Meeting, Abuja, Nigeria, 6-8
th Apr 2021
26. ECOWAS Meeting, Lome, Togo, 2
nd – 12th Aug 2021
27. ECOWAS Meetings, Abuja, Nigeria (31st Aug-3
rd Sep 2021, 24th Nov -3
rd Dec 2021, and
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th Dec – 13th Dec 2021)
28. AU Specialized Technical Committee (STC) Meeting, Cameroon, 7–8 Mar 2019
29. 2019 Eurobond Deal Roadshow, UK and USA, 13th – 20th Mar 2020
30. UNECA Meeting, Morocco, 25–26 March 2019
31. IMF World Bank Spring Meetings, USA, 8–18 Apr 2019
32. Annual Meetings of the AfDB Boards of Governors – Guinea Bissau, 10–13 June 2019
33. Meeting of the Governing Council of IDEP – Senegal, 17–26 June 2019
34. Green Climate Fund Programming Conference – Republic of Korea, 19–23 August 2019
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35. Annual Meetings of the World Bank and IMF – USA, 14–23 October 2019
36. ECOWAS Council of Ministers Meeting, Nigeria, 17–20 Dec 2019
37. Joint Meeting of Heads of ECOWAS National Offices & Planning Experts on ECOWAS
Post Vision 2020, Saly, Senegal, 13th – 17th Aug 2018
38. Joint Meeting of AU F15 Technical and the PRC Sub-committee on General Supervision
and Coordination of Budgetary, Financial and Administrative Matters, Addis Ababa,
Ethiopia, 7th – 10th Aug2018
39. AU F15 Technical Meeting on AU Scale of Assessment and Contributions, Addis Ababa,
Ethiopia, 10th Aug2018
40. 53rd Ordinary Session of the Authority of ECOWAS Heads of State and Government
and the 6th Meeting of the Presidential Task Force
Venue: Lome, Togo | Dates: 30th – 31st Jul 2018
41. 53rd Annual Board Meeting of the African Development Bank Group, Busan, South
Korea, 20th – 29th May 2018
42. 2018 Deal Eurobond Roadshow, London, New York, Boston, 2nd – 11th May 2018
43. 2018 IMF/World Bank Spring Meetings, Washington DC, 14th – 27th Apr 2018
44. Non-Deal Roadshow and Investor Relations Meetings in Japan, Tokyo, Japan, 6th – 13th
Apr 2018
10. ACADEMIC QUALIFICATIONS
1. PhD in International Development Studies
National Graduate Institute for Policy Studies (GRIPS), Tokyo, Japan (2003 – 2006)
2. Master of Arts in International Development Studies
National Graduate Institute for Policy Studies (GRIPS), Tokyo, Japan (2002 – 2003)
3. MPhil in Economics
University of Ghana, Legon (1997 – 1999)
4. Bachelor of Arts (Hons) in Economics and Statistics
University of Ghana, Legon (1992 – 1996)
11. SELECTED TRAINING PROGRAMMES
4.1 Leadership and Management
i. Strategic Decision Making for Managers: London School of Economics Executive
Education, London (Nov 2024).
ii. Driving Government Performance: Leadership Strategies that Produce Results:
Harvard Kennedy School of Government, Boston, USA (Sept 2018).
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iii. Making Corporate Boards More Effective: Harvard Business School, Boston, USA
(Nov 2015).
iv. Leadership Development Series:
Coaching & Mentoring for Improved Work Performance (Sept 2021).
Managerial Planning & Goal Setting (May 2021).
The Leader and His Team (Feb 2021).
Communicating Effectively for Business Success (Jan 2021).
Managing Conflict in the Workplace (Aug 2020).
Emotional Intelligence (July 2020).
4.2 Macroeconomics, Forecasting, and Policy
v. Regional Course on Intermediate Modelling and Forecasting for Policy Analysis for
Senior Economists and Directors of Research: WAIFEM, Virtual (Mar 2023).
vi. Macro-Economic Model Training Development Programme: Norway, 17–26 June
2019
vii. Forecasting in Macroeconomics and Finance: IMF Institute, Washington, D.C., USA
(May 2012).
4.3 Oil, Gas, and Energy
viii. Oil & Gas – Business Environment and Finance: LCT International, London (Dec
2024).
ix. Advanced Oil Trading Orientation: Oxford Princeton Programme, Houston, Texas,
USA (Nov 2012).
4.4 Performance Management
x. Performance Management Workshop: Ghana Institute of Management and Public
Administration (GIMPA), Accra, Ghana (Mar 2012).
12. PAPERS, REPORTS, AND ARTICLES
Dr. Iddrisu has authored several papers and reports on wage policy, development economics, and
public finance. His work includes analyses of minimum wage policies, studies on industrial
development in sub-Saharan Africa, and examinations of economic convergence criteria. He has
published in journals like World Development and produced policy reports for government
ministries, covering topics from entrepreneurial skills to public sector pay policy.
16
13. AWARDS
Dr. Iddrisu’s consistent excellence in service and leadership has earned him numerous prestigious
awards, reflecting his commitment to public service, academic achievement, and contribution to
economic development. The awards include:
i. 2024: Recognition award from Minister for Finance for excellence in macroeconomic policy
management
ii. 2023: Recognition and Excellence award from Head of Service, Office of Head of Civil Service
iii. 2022: Overall Best Director in the Ghana Civil Service
iv. 2020: Most Responsive Division in the Ministry of Finance
v. 2020: Overall Best Director in the Ghana Civil Service
vi. 2019: Overall Best Director in the Ghana Civil Service
vii. 2019: Recognition Award from the Minister for Finance for outstanding contribution to the
impact of Covid-19 on Ghana’s economy
viii. 2018: Overall Best Director in the Ghana Civil Service
ix. 2018: Best Division Award – Economic Research and Forecasting Division
x. 2017: Best Director of the Year Award (Responsive, Ethical, Efficient, Professional)
xi. 2016: Recognition Award from WAIFEM for outstanding service as a facilitator
xii. 2009: “Alumnus of the Month” Award from National Graduate Institute for Policy Studies
(GRIPS)
xiii. 2006: PhD dissertation received the highest marks in GRIPS history
xiv. 2003-2006: JICA Scholarship for PhD in International Development Studies, GRIPS
xv. 2002-2003: JICA Scholarship for Master’s in International Development Studies, GRIPS
xvi. 2002: Best Civil Servant in the Ministry of Finance
xvii. 1997-1998: University of Ghana Scholarship for Master’s program
14. RESEARCH INTEREST
• Macroeconomic Policy/Management;
• Empirical Research
• Economic and Statistical Modelling;
• Public Finance Management;
• Real Sector Issues;
• Poverty Issues; and
• Cluster-Based Industrial Development

Describing the assertions as misleading and unrepresentative of the true voices within the market, the leadership said the decision by GUCDA to embark on a strike was unreasonable.

In a statement, the leadership reaffirmed its commitment to transparency, sustainability, and an ongoing partnership with The OR Foundation — an organisation working to end the dumping of used clothing into the ocean.

According to the leadership, GUCDA represents only a small segment of the secondhand clothing trade, mainly importers, and not the broader community of small-scale retailers, head porters (kayayei), tailors, upcyclers, and resellers who drive the market’s daily business.

“GUCDA does not represent us,” the leadership emphasized.

They further expressed strong support for The OR Foundation, highlighting the organisation’s long-standing collaboration with Kantamanto retailers. They credited the foundation for earning the community’s trust through consistent support, including fire recovery aid, upcycling training, public health initiatives, and joint research projects with market workers.

“Their estimate that around 40% of clothing that enters the market becomes waste is not misinformation — it is an accurate reflection of our daily experience,” the statement said.

The leadership explained that traders often have little control over the contents of imported clothing bales, which frequently include torn, stained, outdated, or excess items that are difficult or impossible to sell.

“Waste is not a smear campaign — it is the reality we confront every day,” the statement added.

They also stressed that the waste problem is systemic, rooted in the overproduction of clothing in the Global North.

“Kantamanto and Ghana are not dumping grounds by choice, but by design. The global fashion system creates this imbalance, and until that is addressed, local traders will continue to bear the burden,” the leadership stated.

They further rejected what they described as attempts to silence the voices of those who work hardest to sustain the market.

The leadership noted that Kantamanto Market remains open and active despite the recent fire that affected portions of the area.

They credited The OR Foundation for providing essential support, including construction materials and emergency financial aid to over 9,000 people affected by the disaster.

“Our resilience is strong, and our market is vibrant. We welcome all partners who want to trade, collaborate, and invest in a sustainable future,” the statement concluded.

In an interview on Joy News’ PM Express Business Edition on Friday, April 11, Dr. Ayim-Darke questioned Ghana’s ability to transform external crises into meaningful reform, arguing that political assurances of resilience rarely translate into real industrial transformation.

He described the U.S. tariff as a classic example of external factors that challenge the nation, urging policymakers and industry leaders to treat it as a moment of reckoning. “How do you manage it? How do you mitigate it?” he asked.

Dr. Ayim-Darke noted that while the Covid-19 pandemic exposed the fragility of global supply chains, Ghana failed to reposition its economy in response. He pointed to missed opportunities, such as in the power industry, where local content laws and value chain development should have been leveraged for growth.

Despite political optimism, Dr. Ayim-Darke emphasized that Ghana remains highly dependent on imports, with little structural change to show for it. “Recovery couldn’t take advantage of the situation to industrialize,” he lamented.

He cautioned that Ghana must move beyond rhetoric and complacency to build real economic resilience. “It’s full of talk that we need,” he concluded.

Speaking on Joy News’ PM Express Business Edition on April 11, Dr. Ayim-Darke emphasized that despite years of rhetoric around local empowerment and industrialization, Ghana’s economy remains structurally vulnerable. He warned that the country’s weak implementation of the local content policy has left it exposed to external shocks.

“We are concerned with this rhetoric that, yes, it is okay. We can recalibrate our system and take advantage of it. Recovery couldn’t take advantage of the situation to industrialize,” he said, expressing frustration that structural changes have not materialized despite assurances from government representatives.

He also highlighted the missed opportunity during the COVID-19 pandemic to transform Ghana’s manufacturing base. Dr. Ayim-Darke pointed out that although local content legislation exists, enforcement has been inconsistent, which has hindered meaningful progress.

Citing the energy sector, he recalled a concerted effort to promote local production of cables, conductors, and meter assembly plants with the Electricity Company of Ghana (ECG). However, he questioned the long-term success of these efforts and noted the ongoing dominance of imports in the country’s economy.

“The structure of the economy is still highly dominated by imports,” he remarked. He further questioned the effectiveness of structural reforms and the country’s ability to take charge of its economic destiny if such issues remain unresolved.

Dr. Ayim-Darke’s comments come as the Biden administration imposes a 10% tariff on Ghanaian exports, including cocoa. He referred to the tariff as another “external factor” with significant implications for the economy, stressing that the government must go beyond reassurances and tackle the obstacles impeding internal capacity building.

“Even with this Liberation Day declaration, it’s full of talk. What we need is deliberate execution, not just declarations,” he concluded.

The engagement forms part of broader efforts to build support for proposed VAT reforms outlined in the government’s 2025 Budget and Economic Policy.

Over the years, Ghana has struggled to maximise VAT collection, with the tax contributing only 20% of total annual revenue. Despite a 17% growth in VAT collections last year, the GRA is seeking expert and stakeholder input to explore strategies for enhancing revenue from the VAT regime.

Acting Commissioner-General of the GRA, Anthony Kwasi Sarpong, expressed optimism that the reforms would improve compliance and strengthen government revenue.

“When we look at the tax laws, we realise there are many revenue opportunities within the system. If we enforce compliance and taxpayers fulfill their obligations, we can generate the resources needed to develop our nation,” he said.

The occasion also marked the launch of this year’s Tax and Good Governance Month, observed every April, under the theme: “Transforming for Impact and Growth: Accelerating Domestic Revenue Mobilisation Through Effective Compliance Tools.”

Sarpong encouraged all taxpayers to meet their obligations, especially during April, which is dedicated to tax awareness and compliance.

Ashanti Regional Minister, Dr. Frank Amoakohene, also addressed the gathering and assured businesses that the government is working to address concerns over high import duties and the cost of transporting goods from the ports.

The dialogue included discussions on key challenges facing Ghana’s tax systems and possible solutions.

Notable officials present included Commissioner of Customs, Brigadier General Glover Annan; Commissioner of Support Services, Dr. Alex Adomako-Mensah; and Commissioner of the Domestic Tax Division, Apenteng Gyamera.

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He explained that this approach is aimed not just at enforcing compliance but at shaping a banking system that is agile, accountable, and future-ready.

Dr. Asiama shared these insights during a meeting with Heads of Commercial Banks at the Bank Square, following the recent Monetary Policy Committee meeting. The gathering included chief executives or representatives from Ghana’s regulated banks, as well as officials from the Bank of Ghana, including 1st Deputy Governor Dr. Zakari Mumuni.

Key Focus Areas for Regulation

The Bank of Ghana’s Governor outlined several key focus areas for the upcoming regulatory framework:

• Risk Identification and Mitigation: A key priority will be using data analytics and early warning indicators to identify emerging risks, particularly given the 5.0% increase in fraud cases and a 13.0% rise in value at risk, as reported in the 2024 Fraud Report. Dr. Asiama emphasized the need for stronger internal controls and oversight.

• Digital Resilience: The central bank will ensure that banks take greater responsibility for the safety of their systems, product integrity, and customer protection, urging banks to invest significantly in product security and expand public financial education.

• Governance and Compliance: Dr. Asiama highlighted the importance of effective governance, compliance culture, and accountability across all levels of banking institutions. He also mentioned the possibility of compulsory Basel III & IV training for all bank directors to improve regulatory knowledge and governance.

• Collaboration and Capacity Building: The Governor stressed the importance of collaboration in co-creating solutions rather than merely enforcing rules. Additionally, the central bank will prioritize capacity building for future challenges, focusing on sustainable oversight, especially in credit risk and reputational exposure.

Through these reforms, Dr. Asiama reaffirmed the Bank of Ghana’s commitment to enhancing the banking sector’s stability and resilience in the face of evolving risks.

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This foundation has frequently criticized the secondhand clothing trade in Ghana, particularly the activities within the Kantamanto Market.

In a statement, the association accused the OR Foundation of spreading “false, unbalanced, and damaging narratives” about the industry.

They claim these reports have misrepresented their operations and overlooked the significant contributions the used clothing sector makes to the economy, including job creation, poverty reduction, and providing sustainable livelihoods for many Ghanaians.

Speaking to Adom FM’s Dwaso Nsem, Aikins Boakye Mensah, an executive member of the association, said the strike is aimed at defending the dignity of used clothing dealers and protecting the reputation of Ghana.

The dealers are demanding that the OR Foundation stop its defamatory statements and call for responsible and factual reporting on the industry.

The association stressed that they are peaceful traders but will not remain silent in the face of unfair attacks. The objectives of the strike include:

• Demanding an end to defamatory statements from the OR Foundation
• Defending the dignity and livelihood of used clothing dealers in Accra
• Safeguarding Ghana’s image both locally and internationally
• Calling for responsible and factual reporting on the secondhand clothing industry

“We are peaceful traders, but we will not sit silently as our industry and country are unfairly attacked. This strike is a unified action to defend our space, our people, and our country’s reputation” ,” Boakye Mensah said.

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Speaking at a meeting with the heads of various commercial banks after the Monetary Policy Committee (MPC) meeting, Dr. Asiama emphasized the importance of clear communication with clients during this adjustment process. This engagement marked the first official meeting between the new management of the central bank and the commercial banks at the Bank Square, the headquarters of the Bank of Ghana.

The meeting was attended by chief executives and representatives of regulated banks in Ghana, along with officials from the Bank of Ghana, including 1st Deputy Governor Dr. Zakari Mumuni.

Background

The Monetary Policy Committee of the Bank of Ghana recently raised the policy rate by 100 basis points to 28%, marking the first review of the key lending rate since September 2024. The decision follows a detailed review of economic developments and is intended to reinforce the disinflation process, which, although underway, remains too gradual to secure lasting stability.

Justification

Dr. Asiama explained that the hike was necessary to address ongoing inflation concerns. “The decline in headline inflation from 23.8% in December to 22.4% in March confirms that recent policy actions are having the intended effect,” he observed. However, he pointed out that inflation expectations remain high, and core inflation is still above the medium-term target.

The Governor stated that the MPC adopted a proactive stance, recognizing that delayed tightening could result in more persistent inflation and higher costs in the long run.

Post-Policy Rate Hike Concerns

While acknowledging the impact of the policy rate hike on borrowing costs for businesses and households, Dr. Asiama reassured that viable businesses would continue to receive support. He emphasized that tailored solutions would be provided to mitigate the effects on vulnerable sectors.

Outlook and Challenges

Despite the challenges, Dr. Asiama noted that the banking sector has shown sustained improvement, with stronger solvency and asset quality measures, as well as strong liquidity and profitability. However, he acknowledged ongoing solvency concerns, particularly with domestically controlled and state-owned banks, where capitalization efforts remain unclear.

Addressing these capital shortfalls remains a priority for the Bank of Ghana, with the Governor revealing that efforts are underway to work closely with affected institutions to ensure sustainable capital levels, restore depositor confidence, and comply with regulatory requirements.

Dr. Asiama also advised commercial banks to draw lessons from past banking crises and prepare for future challenges with a focus on improving crisis management preparedness.

“We expect the 100 basis points hike in the policy rate to sustain interest in Open Market Operations (OMOs) securities, draining demand for T-bills and stabilizing yields. However, the ongoing squeeze on public spending is expected to ease financing needs, preventing an upward spike in T-bill rates, barring any FX shocks,” noted IC Insights.

In the most recent auction, the government rejected GH¢2.37 billion in bids exceeding its yield corridor and accepted only GH¢1.69 billion out of a targeted GH¢4.39 billion. This partial uptake covered just 40% of the upcoming maturities worth GH¢4.22 billion, reflecting tighter supply conditions.

As a result, yields declined by 6.0 basis points on the 91-day bills, 23 basis points on the 182-day bills, and 1.0 basis point on the 364-day bills, settling at 15.65%, 16.50%, and 18.84%, respectively.

The significant bid rejections highlight a misalignment between investor yield expectations and the government’s yield objectives, particularly as the government plans to reopen the bond market.

Databank Research noted, “The gap between the Monetary Policy Rate and money market yields signals a policy rate disconnect—a short-term divergence intended to steer investor interest toward limited alternative assets. However, continued rejections could gradually deplete the Treasury’s liquidity buffers, tightening liquidity in the money market.”

The government plans to raise GH¢6.68 billion this week through the issuance of 91-day, 182-day, and 364-day bills to cover GH¢6.43 billion in maturing bills.

The expansion is in collaboration with the Government of Ghana through the Ministry of Communication, Digital Technology, and Innovation.

Deputy Chief Executive Officer of TP, Thomas Mackenbrock, reaffirmed the company’s commitment to job creation, stating that TP plans to hire over 5,000 young Ghanaians nationwide. He noted that the initiative aligns with government efforts to reduce unemployment across the country.

Mackenbrock explained that TP has experienced rapid growth in Ghana since commencing operations in January 2022 with a single site and 36 employees. The company now views Ghana as a strategic hub for digital services in West Africa and intends to deepen its presence in the region.

“Our ambition is to work closely with the government to create real opportunities for young people in Ghana,” he said. “We see Ghana playing a key role in our long-term global strategy.”

TP’s Global CEO and Founder, Daniel Julien, visited Ghana to explore the country’s strategic value to the company’s regional expansion plans. TP operates in more than 95 countries and employs nearly 500,000 people worldwide.

Country Lead of TP Ghana, Elhadi O. Bencherif, acknowledged the pivotal role of the company’s leadership and the Government of Ghana in the operation’s growth.

“Together with our leadership, we are truly proud to see that what began as a small initiative in Ghana is now embraced with tremendous support and goodwill,” he said. “We are immensely grateful to the government for providing a conducive business environment that supports our vision to create meaningful jobs for the youth in the digital space.”

Speaking on behalf of the Minister for Communication, Digital Technology, and Innovation, CEO of the Ghana Investment Promotion Centre (GIPC), Simon Madjie, highlighted that the project supports the government’s broader vision of building a 24-hour economy.

He expressed optimism that the 5,000 jobs projected could significantly increase in the near future.

TP specializes in business process outsourcing and offers a range of high-quality services, including customer relationship management, content curation and moderation, and high-value customer experience delivery.

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This announcement was made during a meeting with the World Bank Africa team, led by Vice President Ousmane Diagana.

The meeting followed the successful National Economic Dialogue, which was held with strong support from the World Bank.

Addressing the gathering, Dr. Forson stressed the urgent need to tackle fiscal indiscipline, particularly among covered entities that have been awarding contracts without obtaining the legally required commencement certificates.

These practices, he said, have led to serious inefficiencies and budgetary shortfalls.

To curb these issues, a key amendment to the PFM Act now authorises the Ministry of Finance to issue commencement authorisations, marking a significant shift in fiscal oversight.

More importantly, the Ministry is instituting a Compliance Desk that will track and evaluate whether ministries, departments, and other covered entities comply fully with the new law.

The Compliance Desk will also maintain a Compliance League Table, which will publicly rank institutions based on their adherence to financial regulations.

Persistent non-compliance will attract sanctions, the Minister warned, reaffirming the government’s commitment to transparency and accountability in public finance.

“We are determined to ensure that every programme we implement delivers maximum efficiency and impact,” he said. “This is how we build a disciplined and prosperous Ghana.”

Vice President Diagana congratulated the Minister on his recent nomination and praised Ghana’s ongoing fiscal reforms.

He reaffirmed the World Bank’s strong partnership with Ghana, describing the country as a beacon of stability and progress in the region.

The new Compliance Desk is expected to begin operations in the coming weeks.

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The group recommended that Parliament fast-track the establishment of a National Export Adjustment Facility.

“This fund, drawn from petroleum windfalls or levies, could cushion exporters, subsidise trade logistics, and support retooling for affected industries,” the CDM stated in its 9 April release.

The proposal forms part of a broader strategy aimed at mitigating the negative impact of the tariff on industries such as cocoa processing, textiles, and agro-exports.

CDM emphasised the need for long-term economic resilience.

“Let our response be measured, informed by law and diplomacy, and driven by the collective good of the Republic. Ghana first. Always,” the group declared.

The statement also called for the One District, One Factory (1D1F) initiative to be repurposed with a strong export-oriented focus to boost value addition and reduce overreliance on raw exports.

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Dr. Asiama commended NIB’s partnerships with institutional clients, particularly the Ghana Armed Forces, and urged the bank to deepen engagements with such stakeholders. He also encouraged NIB to expand its reach in underserved areas, proposing the opening of an agency in Damongo or Bole in the Savannah Region to enhance financial inclusion.

Other action points from the meeting included BoG’s continued hosting of NIB’s disaster recovery site in Kumasi and consideration of a waiver for associated fees.

The Governor emphasized the need to improve staff welfare as the bank strengthens its balance sheet, and to recognize the loyalty of long-standing customers. He called for measures to reward staff who remained committed during difficult times.

The meeting underscored a shared vision between NIB and BoG to reposition the bank as a credible financial institution capable of supporting Ghana’s industrial and economic transformation.

Chief Dr. Zakaria expressed deep appreciation for the Governor’s support and reaffirmed NIB’s readiness to collaborate with the central bank to implement reforms that will deliver lasting impact for the bank and the country.

He expressed optimism that NIB will serve as a key catalyst in Ghana’s journey toward industrialization and economic growth.

Speaking in an interview on Adom FM’s morning show, Dwaso Nsem, Mr. Ahi assured Ghanaians that the government is actively working to resolve the issue through diplomatic negotiations.

“We are very worried about the impact this tariff could have, especially on jobs and businesses in the export sector. But we are determined to engage the United States to ensure that Ghana is not unfairly targeted,” he said.

According to him, the United States government has informed affected countries that it is open to negotiations, and Ghana intends to take full advantage of that window.

“We will meet them country by country and put our case on the table. We’ve already had an initial meeting with the US Embassy here in Accra, and we’re confident that the outcome of that discussion has been forwarded to Washington,” he noted.

The Deputy Minister’s comments followed a high-level meeting with U.S. Ambassador to Ghana, Virginia Palmer.

The meeting was triggered by Washington’s decision to include cocoa—Ghana’s leading export commodity—on the list of products affected by the tariff, despite the fact that the U.S. does not produce cocoa itself.

But Mr. Ahi said the decision is surprising and concerning, especially because cocoa is a critical part of Ghana’s economy.

“But we are looking at the possibility of meeting again, this time at a higher diplomatic level, to push the negotiations further,” he added.

He said the government is lobbying for a tariff waiver and will ensure Ghana is part of any exemption arrangement the U.S. may put in place.

“We want to make sure Ghana continues to export to the U.S. market without tariffs. That is our goal,” Mr. Ahi stated.

He called for calm, urging the public not to panic over the issue.

“We understand the concerns, and we are doing our best to ensure the right thing is done. Ghanaians should be calm as we work through this,” he assured.

Mr. Ahi also reiterated the government’s commitment to adding value to agricultural exports through President Mahama’s agribusiness initiatives.

“We are working hard to ensure that the agribusiness sector thrives. The private sector should take full advantage of the opportunities being created, especially for non-traditional crops destined for the U.S. market,” he assured.

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Addressing Chief Directors from various Ministries, Departments, and Agencies (MDAs) during a high-level meeting, Dr. Forson emphasized, “I have not paid a single contractor, and I do not intend to do so until the audit is concluded.”

The audit, which covers GH¢67 billion in arrears across 23 ministries, is part of the government’s efforts to promote fiscal discipline, transparency, and accountability in public financial management. Dr. Forson outlined that the Auditor-General has been given a six-week timeline to complete the review.

The audit process will involve verifying claims, confirming the existence of valid commencement warrants, and identifying which financial commitments are legally payable.

Dr. Forson stressed the importance of transparency and full cooperation from all Chief Directors. “Not a single pesewa will be paid without the Auditor-General’s affirmative endorsement,” he warned.

He also emphasized the need for clarity between valid commitments that can be paid this year and those that lack the necessary legal backing. “This is about protecting the public purse. We must ensure that we are not paying for inflated, unauthorized, or non-existent commitments,” Dr. Forson stated.

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This decline is primarily attributed to the Islamic holidays.

Trading activity in the general category of maturities was modest, with the February 2030 maturity leading at an average yield to maturity (YTM) of 23.5%.

The shorter end of the local currency yield curve accounted for 51% of trading activity, averaging a YTM of 23%. Meanwhile, the belly to tail end represented 49% of trades, with an average YTM of 22%.

Analysts predict that secondary bond market activity will remain subdued in the coming weeks, as investors cautiously await clearer economic signals and the outcome of the International Monetary Fund review.

They foresee low trading volumes until market confidence improves.

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This follows a recent decision by the Monetary Policy Committee (MPC) of the Bank of Ghana to increase the policy rate by 100 basis points to 28%. In its analysis, titled “A Hawkish Kick-Off to the New Regime,” IC Research noted that the MPC left the door open for a gradual easing of its policy stance as inflation becomes firmly anchored.

“We do not rule out a first cut in 3Q2025. Reassuringly, the MPC left an open door for a gradual easing in the policy stance as inflation becomes firmly anchored,” the report stated.

The research firm expressed confidence that a faster disinflation trend would emerge in the coming months, driven by the tighter monetary policy and ongoing fiscal disinflation measures. It added that this could widen the real policy rate from its current 4.9% to over 8.0% by June 2025, reinforcing the expectation of a policy rate cut at the July 2025 MPC meeting.

In December 2024, IC Research had anticipated a 200 basis points hike in the policy rate at the January 2025 MPC meeting, following inflation overshooting the International Monetary Fund’s target in December 2024. This would typically trigger the Monetary Policy Consultation Clause (MPCC), leading to policy adjustments aimed at restoring inflation to the target.

However, this action was delayed to assess the impact of fiscal disinflation measures included in the 2025 budget.

Speaking on Joy News’ PM Express on Monday, April 7, Ahi disclosed that the tariff issue came up during a meeting with Ambassador Palmer earlier in the day. The discussion was prompted by what the Ghanaian delegation views as an unfair imposition of trade restrictions on a commodity the U.S. does not even produce.

“Again, we asked why,” Mr. Ahi told Evans Mensah during the interview. “Because if you want to impose taxes on commodities to remain competitive, you would do that based on the commodities that you have a competitive advantage over us. The U.S. doesn’t produce cocoa, but they have slapped a 10% tariff on its exports.”

He continued, “We sought clarification, and the ambassador, too, was surprised. She felt that if we pursued it, a commodity like cocoa could be exempted from the 10% tariff.”

The introduction of the tariff by the Trump administration, as part of a broader trade strategy targeting several foreign imports, has drawn sharp criticism from cocoa-producing nations. These nations argue that it directly affects their economic lifelines and undermines global efforts at equitable trade.

Ghana, one of the world’s top cocoa producers, relies heavily on the commodity for foreign exchange. Any new barriers to the export of cocoa are likely to have significant implications for the country’s economy and the livelihoods of millions of cocoa farmers.

According to the Deputy Minister, Ambassador Palmer did not attempt to justify the tariff but instead recommended further engagement between Ghana and the U.S. at a much higher diplomatic level.

“No, she suggested that we should have a higher platform for discussing this particular matter,” Mr. Ahi noted. “She thinks that we should engage at a higher level—that means bringing in the president at a top governmental level.”

“She didn’t understand why cocoa is included. They know that they don’t produce cocoa, and so that was stated clearly,” he added.

Ghana, along with other African cocoa-producing nations, is expected to collectively respond to the new tariff measures. Sampson Ahi indicated that plans are underway for a continental dialogue under the African Continental Free Trade Area (AfCFTA) framework.

“Apart from that, we also know that as Africans, we have agreed to fight this collectively. And so on the 14th of this month, AfCFTA is organizing a meeting with African trade ministers to look at this situation,” he stated.

In a statement titled “Use and Misuse of Bank of Ghana Currency Transport Boxes,” the central bank clarified that while the wooden boxes used for currency import operations are exceptionally durable and occasionally repurposed after official use, any suggestion that the Bank is associated with criminal use of these containers is entirely false and damaging.

“These boxes are robust, reusable, and well-suited to withstand wear and tear associated with logistics,” the statement read. It noted that commercial banks often return them empty or find alternative non-currency uses for them.

“However, due to their durability, some members of the public have repurposed them for domestic and commercial uses, including storage and transport.”

The Bank drew a clear line, stating that any misuse of these boxes, particularly for criminal activities, must be treated with the seriousness it deserves.

“The BoG cannot be associated with any misuse of these boxes for criminal or unauthorized activities,” it stated.

“Reports have emerged indicating that certain individuals are using these boxes to implicate the Bank or undermine public trust in its operations,” the statement continued.

The central bank warned that such misuse could potentially damage its reputation and insisted that law enforcement agencies must take swift action.

“Misuse of such boxes for criminal activities must be thoroughly investigated… and all persons found culpable prosecuted,” the Bank emphasized.

In a time where visual association can drive dangerous assumptions, the BoG made it clear: a reused currency box does not carry the authority or endorsement of the nation’s central bank.

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Speaking on Joy News’ PM Express on Monday, April 7, the Bodi MP said President Mahama considers the matter one of national interest and has given his full support to any diplomatic or strategic steps needed to reverse what many in Ghana view as an unjustified tariff.

“President John Mahama has tasked us to ensure that efforts have been made to ensure that this problem of Trump tariffs slapped on the country is addressed,” Ahi stated during the interview.

The Deputy Minister’s comments came after a high-level meeting with the U.S. Ambassador to Ghana, Virginia Palmer, earlier that day.

The meeting was triggered by the Trump administration’s decision to include cocoa—Ghana’s leading export—in a list of products subjected to the new 10% tariff, despite the fact that the U.S. does not produce cocoa.

“I am sure that once we have his blessings, if he has to intervene, he will certainly do,” Ahi added, hinting that the President is prepared to engage at the highest level if necessary to protect Ghana’s economic interests.

He questioned the rationale behind targeting cocoa, arguing that the U.S. lacks a domestic cocoa industry to protect.

“If you want to impose taxes on commodities to remain competitive, you would do that based on the commodities that you have a competitive advantage over us,” he said.

“The U.S. doesn’t produce cocoa, but they have slapped a 10% tariff on its exports.”

Ahi disclosed that Ambassador Palmer herself was surprised by the inclusion of cocoa in the tariff scheme and advised Ghana to escalate the matter diplomatically.

“She was surprised,” Ahi noted. “She felt that if we pursued it, a commodity like cocoa can be exempted from the 10% tariff. She thinks we should engage at a higher level—that is, bringing in the President at a top governmental level.”

The Deputy Minister also noted that Ghana is not standing alone in its opposition to the tariffs. He said the African Union and the African Continental Free Trade Area (AfCFTA) are also preparing to respond.

“We also know that as Africans, we have agreed to fight this collectively. And so on the 14th of this month, AfCFTA is organising a meeting with African trade ministers to look at this situation.”

Ahi stressed that Ghana will not back down from what he described as an “unfair” trade decision.

“This is a matter that affects our economy, our farmers, and our export earnings. We are not treating this lightly.”

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He highlighted its role in stabilising the cedi, boosting foreign exchange inflows, and creating sustainable jobs.

Speaking at a recent meeting with the Canadian High Commissioner to Ghana, Myriam Montrat, Dr. Forson emphasized the government’s commitment to leveraging the Goldbod to address key economic challenges.

He explained that the initiative is designed not only to enhance the tracking and management of gold exports, but also to support broader economic objectives such as currency stability and long-term growth.

“There is so much to gain from this initiative,” the Minister stated.

“Goldbod will give us better control over our gold exports and help shore up our foreign exchange reserves. It is part of our strategy to reduce pressure on the cedi and to prioritize job creation over short-term revenue.”

Dr. Forson acknowledged recent mismanagement within Cocobod but was quick to caution against using those setbacks to discredit the broader Goldbod vision.

“While Cocobod has faced some challenges, we must not lose sight of its significant contributions to Ghana’s development. The Goldbod builds on that legacy with a renewed focus on transparency, efficiency, and impact.”

He expressed confidence that the Goldbod will be fully operational soon.

The Minister also noted that the government has taken corrective actions under the IMF programme to address structural slippages inherited from the previous administration.

The High Commissioner ofCanada to Ghana, in her remarks, congratulated Dr. Forson on his appointment and reaffirmed Canada’s commitment to its longstanding partnership with Ghana, particularly in the areas of agriculture and technical vocational education and training (TVET).

Chamber of AutoData Ghana expresses disappointment in gov’t

‘We’re listening’ – BoG assures traders of stability amid high interest…

At a stakeholder meeting held at the Bank Square on April 4, 2025, Bank officials acknowledged traders’ concerns over how monetary policy decisions, particularly interest rate hikes, are affecting borrowing costs, operations, and overall business confidence.

“The Bank’s recent decisions are necessary to anchor inflation expectations and protect the purchasing power of households and businesses,” officials explained during a presentation to GUTA executives.

They stressed that while higher rates may pose short-term challenges, they are essential in preventing long-term instability.

The meeting was part of the Bank’s post-Monetary Policy Committee (MPC) engagement with key economic players.

Officials outlined the economic reasoning behind the latest policy rate adjustment, noting global financial pressures, exchange rate trends, and domestic inflation as critical factors.

In a move to deepen transparency, the Bank has, for the first time since adopting an inflation-targeting regime, publicly disclosed how each MPC member voted—aligning with global best practices to boost public trust and policy credibility.

Key Bank of Ghana directors present included Dr. Philip Abradu-Otoo (Director of Research), Bernard Otabil (Director of Communications), Ismail Adam (Acting Head of Banking Supervision), and Ernest Nii Sowah Ahulu (Financial Markets Department).

The meeting, part of BoG’s broader stakeholder engagement following its recent Monetary Policy Committee (MPC) session, aimed to foster dialogue with the business sector amidst the country’s tightening monetary policy environment.

The Bank acknowledged the frustrations of traders over high borrowing costs and assured GUTA of its commitment to supporting a stable macroeconomic environment conducive to long-term growth.

BoG explained that both external and domestic inflationary pressures have driven its recent policy stance, which includes raising interest rates to anchor inflation expectations and protect purchasing power.

In its presentation to GUTA executives, the central bank defended the rate hike, saying it was necessary to curb inflation, which if left unchecked, would erode business confidence and economic stability.

While admitting the policy may pose short-term difficulties for businesses, the Bank maintained that it is vital for preserving long-term economic health.

For the first time since the adoption of its inflation-targeting regime, the MPC disclosed individual voting patterns of its members—an unprecedented move toward transparency and accountability in Ghana’s monetary policymaking.

The Bank believes this will build public confidence and help businesses make informed decisions.

Present at the meeting were key BoG officials, including Dr. Philip Abradu-Otoo, Director of Research; Bernard Otabil, Director of Communications; Ismail Adam, Acting Head of Banking Supervision; and Mr. Ernest Nii Sowah Ahulu, Officer-in-Charge of Financial Markets.

GUTA was represented by its President, Dr. Joseph Obeng; First Vice President, Clement Boateng; Second Vice President, Charles Gyan; and other executives of the association.

The “Liberation Day” tariff increases outlined by the US government on 2^nd April, 2025 sharply exceeded the already steep rises assumed in Fitch’s March 2025 Global Economic Outlook (GEO).

These increases impose a minimum tariff rate of 10% for all US trade partners and sizeable additional increases on a subset of 57 trade partners.

The adjustments raise US effective tariff rates (ETR) to approximately 20% for imports from the EU and around 64% for China, surpassing our March assumed levels of 15% and 35%, respectively.

Other Asian economies will also face much higher tariffs, including Vietnam (a 46% rate), Thailand (36%), Taiwan (32%), India (26%), Korea (25%), Malaysia (24%) and Japan (24%). The country-specific rates allow for the exclusion of sectors where product-specific tariffs remain under discussion, such as for semiconductors, pharmaceuticals, copper, and lumber.

Fitch estimates the changes will raise the overall US ETR to about 25%, which would be significantly higher than the 18% it had assumed for 2025 in the March GEO and the highest rate for more than 115 years.

US growth in 2025 is likely to be slower than the 1.7% that the UK-based firm had projected in March 2025, given higher-than-anticipated tariffs.

Recent US consumer sentiment indicators have weakened sharply against a backdrop of equity market volatility, and US consumer spending growth slowed notably in January and February.

The Chamber represents all Dedicated Electronic Money Issuers (DEMIs), including AT Money, G-Money, Mobile Money Limited, Telecel Cash, and Zeepay.

This development follows a directive from the Ghana Revenue Authority (GRA), issued on April 2, 2025, instructing all charging entities to cease applying the E-Levy. The directive aligns with the government’s decision to abolish the tax under the Electronic Transfer Levy (Repeal) Act, 2025 (Act 1128).

The EMIs Chamber confirms that all member institutions have complied with the directive and are actively processing refunds for any charges incurred. The refund process is expected to be completed by April 7, 2025.

“To prevent any further unintended charges, member institutions have implemented safeguards. In the unlikely event of an erroneous charge, it will be promptly refunded by the respective entity,” the Chamber stated.

The EMIs Chamber reiterated its commitment to customer trust, transparency, and full compliance with regulatory directives.

“We continue to support the growth of Ghana’s digital financial ecosystem and ensure a secure and fair environment for all users,” it added.

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In a statement, it said the lower treasury bill yields would have a rippling effect on the cedi as investors seek investments in high-yielding assets such as the dollar.

“The Institute of Public Policy and Accountability advise the finance minister not to rush to celebrate what we describe as not the true state of the interest rates regime despite seeking to score a political point. Ghana’s main fiscal problem is a lack of adequate revenue collection and borrowing for consumption.  We want to caution against excessive pressure on the Ghana cedi due to anticipated demand for the US dollar, thus reducing the gains achieved in bringing inflation down”.

“This assertion is supported by the Managing Director of Stanbic Bank and President of the Ghana Association of Banks, Kwamina Asomaning, who notes that the drop in the T-bill rates is a good move and should be encouraged by players in the banking industry, however, the development has brought some sudden pressure on the cedi as investors consider the American greenback as a safe haven to get returns on their investments”, the institute explained.

As a public policy organisation, it said a sustained fiscal discipline is crucial to ensuring that lower borrowing costs translate into economic expansion rather than excessive government spending and artificial reduction in yields.

Again, it mentioned that foreign exchange stability is a key factor in assessing the sustainability of lower domestic yields, adding, “However, we do not think so as the local currency is far from achieving a relative stability compared to the periods of 2018 and 2019. Historically, the sharp declines in interest rates have raised concerns about capital flight and exchange rate pressures”.

The institute urged the finance minister to work closely with the Bank of Ghana to gradually improve the interest rate environment.

“He should always factor in the downside risks when pursuing a policy. We want the reduction in the T-bill rates to correspond with a sharp decline in lending rates. This will significantly ease the cost of doing business. Therefore, we want to see a fiscal policy that drives revenue mobilisation but is also business-friendly”, it continued.

Since January 2025, T-bill yields have fallen by more than 10%, but lending rates have remained high.

However, in the last two auctions, demand for the short-term instruments has waned because of the lower yields as investors seek other options to generate adequate return.

His appointment took effect on March 20, 2025, following approval by the Bank of Ghana and endorsement by shareholders.

Mr. Sackey succeeds Joe Mensah, who has served as the Chairman of the Board since 2019.

His appointment, alongside other distinguished board members, reflects CalBank’s renewed commitment to driving sustainable growth, profitability, and innovation within Ghana’s banking sector.

Profile of Daniel Nii Kwei-Kumah Sackey

Daniel Sackey is a highly accomplished banking executive with over 30 years of experience in strategic leadership, financial performance, and corporate governance.

He has held key roles across multiple financial institutions, including Ecobank Ghana, Zimbabwe, and Rwanda, driving digital transformation, operational excellence, and regulatory compliance.

With extensive board experience across financial institutions and stock exchanges, he has played a pivotal role in risk management, financial inclusion, and stakeholder engagement. He holds an MBA in International Banking and Finance from the University of Birmingham and a BSc in Accounting from the University of Ghana.

His vast expertise in strategic planning, regulatory compliance, risk management, business development, and financial inclusion makes him an ideal leader to guide CalBank’s strategic direction, reinforcing its position as a dominant player in the banking industry, and supporting its long-term vision of becoming a digital bank, promote financial inclusion and economic development in Ghana.

Speaking on his appointment, Mr. Sackey expressed his gratitude and optimism about the future of CalBank. “It is an honor to lead CalBank’s Board at such a pivotal time. The Bank has demonstrated resilience and strategic focus in achieving remarkable financial recovery. Together with my fellow board members, we are committed to steering the Bank towards sustained profitability and innovation, ensuring value for shareholders and stakeholders alike”.

Strengthening the Board with Seasoned Experts

Alongside Mr. Sackey, new board members have been officially endorsed by shareholders, bringing a wealth of experience in finance, investment, and governance to CalBank:

Johnson Delali Oware – Appointed as Executive Director and Deputy Managing Director, Johnson is an expert in corporate, commercial, and retail banking. His leadership spans across multi-country business growth, structured trade finance, and digital banking expansion.

Kwadwo Brantuo Mpeani – A Chartered Accountant and a former Ernst & Young (EY) Partner, with over 30 years of experience in auditing, taxation, and financial consulting. His strong background in financial management will enhance the Bank’s corporate governance framework.

Yvonne Ofosu-Appiah – A highly respected investment professional with 17 years of experience in venture capital, private equity, and sustainability-focused financial strategies. As Co-founder of Sahara Impact Ventures, she specializes in long-term investments and corporate governance.

Gerrit Muller – A seasoned investment professional with 21 years of experience in financial services, mergers & acquisitions, and private equity across Africa. As Senior Investment Director at Arise B.V., he has played a crucial role in shaping strategic financial investments in Ghana and beyond.

Speaking on the reconstitution of the board, Carl Asem, Managing Director of CalBank, expressed optimism about the bank’s prospects under the new leadership.

He stated that “The new appointments will reinforce the Bank’s strategic position in the Ghanaian market, helping it to create more value for its customers, employees, shareholders, investors, and local communities through sustainable business practices.”

Strong Financial Performance and Future Outlook

The appointment of the new board members comes at a time when CalBank has demonstrated remarkable financial resilience.

The Bank’s audited results for 2024 highlight a remarkable recovery, with Profit Before Tax surging to GHS 414.2 million, signaling a significant turnaround from previous losses.

Net Fees & Commission Income grew by 55.7% to GH¢179.6 million, driven by increased digital banking adoption. Deposits rose by 29% to GH¢9.6 billion, reflecting heightened customer confidence and retail banking expansion. Additionally, loan recoveries reached GH¢792 million, reinforcing the Bank’s commitment to effective risk management and financial stability.

Commitment to Sustainable Growth and Innovation

Under its new leadership, CalBank said it is committed to driving digital transformation, financial inclusion, and robust risk management to ensure sustained profitability.

“The Board is dedicated to executing the Bank’s five-year strategic plan, which focuses on expanding retail and commercial banking, enhancing digital banking platforms, strengthening risk management frameworks, and building strategic partnerships to promote sustainable banking solutions”, it added.

The Future of CalBank

CalBank remarked that it is poised for continued growth and profitability under its new leadership. With a strong emphasis on customer-centric banking, innovation, and operational efficiency, the Bank is set to strengthen its position as a leading financial institution in Ghana.

According to the Bank, its experienced leadership team, combined with a strategic vision, ensures adaptability in an evolving financial landscape. Committed to corporate governance and customer excellence, CalBank remains a trusted partner for businesses and individuals.

Reflecting on past achievements, Dr. Forson noted, “With China’s support, we built the Atuabo Gas Processing Plant during my time as Deputy Minister. It’s now time to build a second gas processing plant.”

The meeting signals a renewed commitment to critical infrastructure and economic development.

Central to their discussions were major infrastructure initiatives announced by President Nana Akufo-Addo, including the Accra-Kumasi Expressway. These projects are under active consideration ahead of the Mid-Year Budget Review.

“We will need support from partners like China,” the Finance Minister stressed, referencing a Chinese proverb to underscore the importance of infrastructure: “If you want to get rich, build roads first.”

Dr. Forson also highlighted the near-completion of several Chinese-funded projects in Ghana, expressing optimism about the timely commencement of new ones.

“Most Chinese-funded projects in Ghana are near completion, and we hope new ones will commence soon,” he stated.

In addition to infrastructure, Dr. Forson appealed for China’s support in concluding Ghana’s debt restructuring process.

The Chinese Ambassador welcomed the dialogue and reaffirmed his country’s readiness to assist.

“The bilateral agreement and development partnership are ready to be signed,” Ambassador Tong Defa confirmed, signaling China’s continued commitment to Ghana’s economic transformation.

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The meeting highlighted Ghana’s evolving investment landscape, with a focus on leveraging private capital for economic growth. “Ghana is open for business, and we welcome partners ready to grow with us,” Dr. Forson emphasized.

A major focus of the discussion was Ghana’s upcoming Palm Industry Policy, aimed at diversifying the nation’s agricultural base beyond cocoa. The government plans to develop 50,000 hectares of oil palm, with an initial $100 million investment for the first 20,000 hectares.

“Our goal is to attract private sector investment into large-scale agribusiness that creates jobs and boosts export earnings,” Dr. Forson stated.

The Finance Minister also extended an invitation to BII to support the repositioning and growth of Consolidated Bank Ghana (CBG), signaling a broader push to strengthen the banking sector.

BII, which currently holds over $200 million in investments in Ghana—particularly in the energy sector—responded positively, reaffirming their long-term commitment to the country. “We see Ghana as a priority market in the region,” BII representatives noted.

In a promising development, BII is considering bringing its full Board to Ghana for the first time in nearly a decade, signaling renewed interest at the highest level. The institution also expressed readiness to support small and medium-sized enterprises (SMEs), forestry, and other key sectors.

Dr. Forson concluded, “We are creating the right environment for investors who are committed to sustainable growth and shared prosperity.”

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This initiative is part of broader efforts to strengthen Ghana’s industrial base, reduce import dependency, and stimulate job creation.

The announcement was made during a strategic meeting with the leadership of the Association of Ghana Industries (AGI).

Dr. Forson expressed dismay over Ghana’s continued reliance on imports for basic commodities such as sugar and rice, despite the country’s capacity to produce them locally.

He stressed that the new directive aims to channel public sector procurement towards empowering domestic manufacturers.

“To support our local industries, the government will soon publish a list of items that all public sector agencies must procure locally,” he stated. “Any government procurement from outside Ghana will require special approval from the Office of the President.”

In addition to the local procurement policy, the Finance Minister warned of the severe threat posed by the smuggling of goods into the country.

He disclosed that the government has identified key smuggling routes and will soon introduce tough enforcement measures to clamp down on this practice, which continues to undermine local industries.

“Smuggled goods are crippling our local businesses, and we are determined to stop it,” he said.

Dr. Forson also called for closer collaboration between the government and private sector actors, inviting industry leaders to a working session to explore how local businesses can effectively engage with the government’s 24-hour economy programme.

He emphasized that robust partnerships will be key to sustaining long-term growth and enhancing local production capacity.

AGI President Dr. Humphrey Ayim-Darke welcomed the move and commended the government’s renewed commitment to industrial development.

He expressed optimism that consistent dialogue and cooperation between the government and the private sector would lead to lasting improvements.

The upcoming policy on local procurement, he noted, has the potential to significantly boost the competitiveness of Ghanaian manufacturers while ensuring public spending directly benefits the national economy.

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The Minister, Hon. Ahmed Ibrahim, made this revelation on Adom TV in Accra, while addressing delayed payments to firms under the Environmental Service Providers Association (ESPA).

This debt, inherited from the Akufo-Addo administration, he said, has been a significant concern for the current government.

Despite this, he underscored the importance of collaboration between the government and private waste management companies like Zoomlion to address Ghana’s waste management challenges.

“We are collaborating closely with Zoomlion to address waste management challenges in the country, particularly focusing on recycling plastic waste,” he noted.

He stressed the necessity for the government to forge robust partnerships with private waste management firms, while commending Zoomlion for its state-of-the-art sanitation infrastructure.

According to Ahmed Ibrahim, Zoomlion’s substantial investments in modern solid and liquid waste treatment and recycling facilities nationwide remained unparalleled, as the government does not have such infrastructure to deal with the waste (both municipal solid and liquid waste) being generated daily in the cities.

“Zoomlion’s commitment to building advanced waste management systems across Ghana remains unparalleled,” Ibrahim Ahmed stated.

He admitted the government’s lack of comparable infrastructure, stressing the urgency of public-private collaborations to tackle sanitation issues.

The Minister highlighted Zoomlion’s expanded role beyond waste collection, including faecal waste management.

He warned of a nationwide sanitation crisis should Zoomlion halt operations, recalling past practices where faecal waste was dumped directly into the sea, causing environmental and health hazards.

He indicated that Zoomlion’s liquid waste recycling plants now process sewage into compost and charcoal, aligning with a 2016 ban on sea disposal initiated by former President Dramani Mahama.

Ahmed Ibrahim, therefore, called for sufficient government attention to sanitation, citing a cholera outbreak in coastal regions like Cape Coast, Winneba, and Takoradi on October 24, 2023, advocating intensified public education on sanitation risks.

In a post on X on Wednesday, April 2, he simply wrote, “It is finished,” signaling the completion of the legislative process to repeal the controversial levies.

President John Dramani Mahama fulfilled a major campaign promise by signing into law a set of amended bills that abolish the betting tax, E-Levy, emissions tax, and other levies earlier today.

The signing, which took place in his office, marks a significant milestone in his administration’s efforts to ease the financial burden on Ghanaians and foster economic growth.

The removal of these taxes was a core pledge in the National Democratic Congress (NDC)’s manifesto, aimed at reducing the cost of living and encouraging business expansion.

The E-Levy, introduced in 2022 by the previous New Patriotic Party (NPP) administration, imposed a 1.5% tax on electronic transactions, including mobile money transfers, bank transfers, and online payments.

It was widely criticized by the public and the business community, who argued that it stifled digital transactions and placed an unnecessary burden on citizens.

Parliament officially passed the bill to repeal the levy on Wednesday, March 26, paving the way for its removal.

The decision to scrap these taxes has been met with widespread approval, with many Ghanaians celebrating the move as a step towards financial relief.

Supporters of the repeal argue that eliminating these levies will promote digital transactions, stimulate economic activity, and improve disposable income for households and businesses.

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This innovative initiative, launched by the Member of Parliament (MP) for the area, Samuel Kwabena Awuku (Sammi Awuku), transformed the normally quiet community center into a vibrant marketplace, with farmers, vendors, and eager shoppers all coming together to celebrate the event.

The Ofie Market, conceived as a solution to address pressing agricultural challenges, aims to combat post-harvest losses and enhance access to fresh, affordable organic produce.

This novel project is a key part of Sammi Awuku’s efforts to improve the lives of local farmers and provide a direct-to-consumer platform, bypassing middlemen who often reduce farmers’ profits.

The idea for the Ofie Market emerged during Awuku’s 2024 campaign for the Akuapem North parliamentary seat, where he pledged to tackle the challenges facing the region’s agricultural sector.

With agriculture being a significant part of the local economy, farmers in the constituency have long struggled with large quantities of produce spoiling before reaching consumers, contributing to significant post-harvest losses.

Awuku recognized the need for a solution and promised to create a marketplace that would allow farmers to sell their fresh produce directly to buyers, ensuring both better prices for farmers and fresher food for consumers.

The inaugural market, which is set to occur on the last Saturday of each month, has already garnered enthusiastic support, with over 500 farmers and 300 market queens confirming their participation.

This turnout is a clear indication of the growing excitement surrounding the initiative.

On launch day, the market was filled with fresh fruits, vegetables, and other locally grown staples. Vendors offered competitive prices, and shoppers eagerly took advantage of the opportunity to support local agriculture.

The event not only attracted people from within the constituency but also drew commuters from Accra, further highlighting the broad appeal of the market.

Local authorities, including the Chief and elders of Amanokrom, were on hand to welcome Sammi Awuku, who attended the event to witness its success firsthand.

The MP expressed his satisfaction with the positive turnout, noting that the market fulfilled a major promise made during his campaign.

He emphasized the importance of the initiative in supporting the local economy and providing farmers with a fairer marketplace.

The Ofie Market is also designed to be more than just a place for trading produce. A children’s playground was set up to make the shopping experience more family-friendly, and food vendors and entertainment added to the festive atmosphere.

The market operates from 6 a.m. to 6 p.m., becoming a social hub for the community as well.

Supported by the Municipal Directorate of the Ministry of Food and Agriculture, the initiative has already been hailed as a model for community-driven solutions to agricultural issues.

Local farmers have expressed gratitude for the opportunity to sell their goods directly to consumers, reducing waste and allowing them to earn better prices for their produce.

The successful launch of the Ofie Market on March 29 has set the stage for it to become a regular fixture in the lives of residents in Akuapem North and beyond.

With Sammi Awuku’s vision for a thriving, self-sustaining local economy, the future looks promising for both farmers and consumers in the region.

Below are some photos of the fair:

Ofie Market

Ofie Market

Ofie Market

Ofie Market

Ofie Market

Ofie Market

Ofie Market

Ofie Market

This follows reports suggesting that the authority had taken enforcement action against him.

In a press statement issued on Thursday, March 27, 2025, the GRA explained that while a tax assessment of GH₵30 million has been raised against Quaye, no enforcement measures—such as freezing his accounts—have been implemented.

“The authority has issued an assessment on him relating to his income taxes, but we have not commenced any enforcement action such as freezing his bank accounts,” the statement read.

The GRA urged the public to disregard the false reports and emphasized that it adheres to due process in tax matters. It further clarified that enforcement actions, including account garnishments, are only taken when taxpayers fail to cooperate after an assessment has been raised.

The authority also encouraged all eligible taxpayers to voluntarily disclose their incomes and fulfill their tax obligations to avoid penalties, interest, and legal consequences.

Meanwhile, the GRA reaffirmed its commitment to fairness, integrity, and transparency in tax administration, assuring the public that all compliance matters are handled in accordance with established procedures.

Background

Mr. Quaye recently marked his 40th birthday with a lavish celebration at the Black Star Square in Accra, drawing top local and international dignitaries, business elites, and entertainment figures.

The extravagant event, dubbed #RNAQ40, was attended by some of Ghana’s most influential personalities, including Dr. Osei Kwame Despite and Dr. Ernest Ofori Sarpong, underscoring Quaye’s strong ties to the nation’s business and social circles.

Also present were government officials, industry leaders, and prominent figures from the international business community, all gathered to celebrate his achievements over the years.

The event featured electrifying performances from Nigeria’s Davido and Ghana’s Sarkodie, while Stonebwoy’s Afro-dancehall energy kept the audience engaged throughout the night.

George has alleged that the previous Akufo-Addo administration entered into a third-party contract that diverts revenue away from NITA. According to him, although services run on NITA’s infrastructure, the revenue is channeled to a third-party firm, leaving only GHC25 in NITA’s account.

Describing the situation as a case of “state capture,” George stated:

“National Information Technology Agency (NITA), for example, has 25 Ghana Cedis, 8 pesewas as its bank balance at the Bank of Ghana. Meanwhile, the agency owes GHC813,486,505.89. This is the ministry we took over.”

However, in an interview on Citi FM’s Eyewitness News on Thursday, Opoku accused George of misrepresenting the facts about NITA’s finances.

He explained that in January, the Minister for Finance directed the Controller and Accountant General to sweep funds from state agencies’ accounts as part of efforts to settle bonds. By February, all funds held on behalf of state agencies, including those at the Bank of Ghana, had been withdrawn.

Opoku revealed that on February 4, NITA’s management wrote to the Finance Minister, through the Minister for Communications, highlighting their financial obligations and the impact of the fund removal.

He also disputed George’s claim that NITA has an outstanding debt of GHC813 million, calling it inaccurate.

“I think that Sam George is being disingenuous. He is not being truthful to the Ghanaian people. He is aware that in January, the Minister for Finance, in an attempt to pay off bonds, instructed the Controller and Accountant General to sweep funds from state agencies’ accounts.

“So in February, the Controller and Accountant General removed all monies that were being held for and on behalf of state agencies, some by BoG.

“In fact, when that happened on February 4, the management of NITA wrote a letter to the Finance Minister through the Minister for Communications, explaining that they have obligations.

“…The Minister goes further to say that there is a huge debt hanging over the agency, which he knows is not true,” Opoku said.

The Mpraeso MP called for greater transparency and accountability in discussions about NITA’s finances, stressing the need for accurate information to guide public understanding and policy decisions.