Category: Daily Guide Network

Speaker of Parliament, Alban Kingsford Sumana Bagbin, has advised Ghanaians to honour individuals who have made significant contributions to national development while they are still alive.

He made this call at the launch of ‘Building Confidence, Restoring Strength’, a book by the Chief Executive Officer (CEO) of National Investment Bank (NIB), Chief Dr. Doli-Wura Awushi Abdul-Malik Zakaria, in Accra on July 21, 2026.

Addressing the gathering, Speaker Bagbin said Ghana could not build a great future without recognising those who had laid the nation’s foundations.

‘A nation cannot have a great future if we fail to honour those who have built the foundation upon which we stand today. A nation grows stronger when its members remember its heroes,’ he said.

He asked that integrity, excellence and sacrifice be celebrated while the individuals behind those achievements were still alive.

‘We must become a people who honour good deeds while those who perform them are still with us,’ he added.

Speaker Bagbin described the book as an important contribution to Ghana’s leadership literature, saying it documented how committed leadership could restore confidence in institutions and preserve valuable lessons for future generations. He noted that institutions are built by committed people rather than physical infrastructure.

‘Institutions do not become great because of buildings or policies alone. They become great through people who live with purpose and who selflessly invest in others,’ he stated.

He went on to quote a passage from the book, saying, ‘The true measure of leadership is not only about what we achieve, but about the lives we shape and the opportunities we create for others.’

He also highlighted the importance of stewardship, describing leadership as a sacred trust.

‘Your institution is not yours. You are holding it for a period. Hold it well and pass it on stronger than you found it,’ he advised.

Speaker Bagbin further argued that public confidence in institutions remained central to Ghana’s democratic development, warning that democracy weakens when citizens lose trust in public institutions.

Using the National Investment Bank (NIB) as an example, he said institutional revival depended more on discipline, sound systems and effective leadership than financial support alone.

For his part, Nene Drolor Olorogun Bosso Adamtey I, echoed Speaker Bagbin’s call, saying Ghana must deliberately cultivate a culture of recognising exemplary leadership.

‘A nation grows stronger when its members remember its heroes. A nation inspires future leaders when it celebrates integrity, excellence, sacrifice and faithful service,’ he said.

He described Chief Dr. Zakaria as a leader whose impact continued to shape lives and institutions.

‘Let us honour a man whose story is still unfolding, whose contribution has already impacted many lives and whose greatest legacy is still being written,’ he said.

The Shai Mantse observed that the lessons contained in ‘Building Confidence, Restoring Strength’ extended beyond the story of one individual, serving as a guide for future generations of leaders.

‘This book tells exactly that story. It documents how committed leadership restores confidence in a situation that many had written off. It preserves those lessons for future generations,’ he stressed.

He also highlighted the principle of stewardship, urging leaders to leave institutions stronger than they found them.

‘Your institution is not yours. You are holding it for a period. Hold it well and pass it on stronger than you found it. If every leader embraces this principle, our institutions and indeed our nation will be stronger,’ he added.

The Minority in Parliament has challenged the government’s claim of improved fiscal performance, arguing that the stronger fiscal position reported in the 2026 Mid-Year Budget Review was achieved largely through expenditure cuts rather than genuine economic gains.

Responding to the Mid-Year Budget Review presented by the Finance Minister, Dr. Cassiel Ato Forson, the Minority Leader, Alexander Afenyo-Markin, accused the government of withholding funds from ministries, departments and agencies while portraying the resulting fiscal surplus as evidence of prudent economic management.

According to him, the Finance Minister’s assertion that ‘the true character of a finance minister is not determined by how much he spends’ amounted to an admission that the government was deliberately restricting expenditure.

‘Such a statement must cause palpitations among ministers of state,’ Mr. Afenyo-Markin told the House, and added, ‘Basically, what he is telling all ministers is that he is not going to spend; he is not going to release funds to you.’

The Effutu Member of Parliament (MP) argued that the improved fiscal balances highlighted by the Finance Minister were not the result of increased revenue mobilisation or stronger economic activity but rather the consequence of severe spending restraint across government.

He contended that many ministries had become ineffective because they lacked adequate budgetary releases to implement programmes and projects approved by Parliament.

Mr. Afenyo-Markin also questioned discrepancies in the government figures relating to releases to the agriculture sector.

He noted that while the Deputy Minister of Finance, Thomas Nyarko Ampem, had previously indicated that GHS1.6 billion had been released to the Ministry of Food and Agriculture, the Finance Minister had now reported a figure of GHS1.1 billion.

The Minority Leader said the inconsistency raised concerns about transparency and accountability in the government expenditure reporting.

Beyond the fiscal figures, he criticised the Mid-Year Budget Review for failing to provide new policy interventions for the cocoa sector, which remains a major contributor to the national economy.

He lamented the plight of cocoa farmers and accused the government of neglecting the sector.

‘Throughout his review, there was no policy announcement for the cocoa sector. The four million cocoa farmers are suffering,’ he stated.

Mr. Afenyo-Markin further blamed the government for losses associated with the Gold-for-Reserves programme, arguing that earlier warnings from the Minority regarding the policy had been ignored.

According to him, the government proceeded with the programme despite concerns over the costs involved and only adjusted the policy after intervention by the International Monetary Fund (IMF).

He alleged that the country had already incurred losses amounting to GHS9.6 billion as a result.

The Minority Leader described the Mid-Year Budget Review as ‘full of English with empty payment,’ insisting that the government had failed to provide adequate details about payments it claimed to have made.

He accused the administration of favouring party loyalists in the disbursement of public funds while ordinary Ghanaians continued to face economic hardship.

A major point of contention during his presentation was the government’s flagship 24-Hour Economy initiative.

Mr. Afenyo-Markin questioned the decision to allocate GHS42 million to the implementation of the 24-Hour Market programme while many Agenda 111 Hospital projects remained incomplete.

He argued that health infrastructure should have been prioritised over market construction.

‘When there are no hospitals, how do you say you are constructing markets?’ he asked.

The Minority Leader further alleged that the government was using allocations meant for Metropolitan, Municipal and District Assemblies to finance aspects of the 24-Hour Economy programme.

He also criticised the administration for failing to provide alternative industrialisation policies after discontinuing the One District One Factory (1D1F) initiative introduced by the previous New Patriotic Party (NPP) government.

According to him, businesses had lost confidence in the government’s economic direction, while rising electricity tariffs were undermining efforts to promote round-the-clock economic activity.

He maintained that many young people had lost their jobs under the current administration and accused the government of failing to create meaningful employment opportunities.

In November 2025, this column asked whether Ghana’s 2026 Budget would live up to its promised ‘reset,’ and concluded that the intentions were sound, but execution would be the true test. Eight months on, the scorecard reads better than most predicted.

The Head of Research at First National Bank, Julien Ayippey asserts that the cedi has held broadly stable. He explained further that this has been made possible as the IMF-supported programme has concluded successfully. The domestic bond market has reopened after a three-year absence. Public debt has stayed contained, and the Sinking Fund, whose absence we flagged last year, is now operational, funded by 7% of gross non-oil tax revenue and foreign-currency dividends. ‘Holding the line on spending amid real infrastructure, social and political pressure is itself an achievement worth recognising.’

He mentioned that sceptics will call this restraint rather than transformation. That debate is legitimate, but discipline must survive the political cycle, and better headline numbers must become better jobs and living standards. Today, the Finance Minister presents the Mid-Year Budget Review to Parliament. Julien themes out some critical questions on whether Ghana can sustain stability without the IMF as referee and whether households facing rising transport, rent and school-fee costs will feel it. He describes six issues that should frame this mid-year review.

The Inflation Turn

Inflation fell from 23.5% in January 2025 to 3.2% in March 2026, a low last seen in 1985, then reversed for three straight months to 5.3% in June, driven by transport, rents and school fees. Non-food items now make up 68.5% of the basket’s inflation, with services rising 9.4%. Renewed U.S.-Iran tension in the Strait of Hormuz has pushed Brent crude back above US$89 after easing to US$84 in June, and Ghana imports almost all its refined fuel.

The Bank of Ghana has held its policy rate at 14% since May. June’s 5.3% still sits inside the Budget’s 8% end-year target, but the direction and pace deserve a straight answer, ‘What is the current assumption for fuel prices, and what shields the Budget if the conflict persists’? An open forecast revision beats a quiet one. Credibility depends on candour here.

Figure 1: Headline inflation, year-on-year. The March low of 3.2% is behind us.

Show The Plan For The 2027-28 Debt Wall

Ghana faces roughly GHS50.3 billion in domestic debt maturities in 2027 and GHS45.8 billion in 2028, alongside US$1 billion in Eurobond repayments in 2026 and US$2 billion in 2027, fixed dates that will not move. The good news: it has rarely been cheaper to prepare. The 91-day Treasury bill has fallen from 28.4% in January 2025 to about 5.9% today, and April’s post-default seven-year bond raised GHS2.7 billion at 12.5%. The plan to raise GHS20.2 billion in seven-to-ten-year paper by year-end is the right instinct, a functioning yield curve is also a pricing benchmark for corporate paper, and First National Bank stands ready to support issuers and investors accessing it. What we need on today is disclosure on:

– The current balance in the revived Sinking Fund, and the specific flows feeding it.

– Progress against the GHS20.2 billion target at the halfway mark.

– A quarterly bond issuance calendar, requested since November and still overdue.

Recent T-bill auctions have undershot, and yields are drifting up weekly. A published calendar remains the cheapest confidence-building tool the Ministry has.

Name What Replaces The IMF’s Discipline

Completing the Extended Credit Facility is a genuine milestone, and the shift to the Fund’s Policy Coordination Instrument, monitoring without money, is a sensible bridge. Ghana’s fiscal discipline however, has been historically held under supervision and slipped without it, and an election cycle is now the real test. The review should confirm the primary balance at half-year against the 1.5%-of-GDP target (1.2% through March), and whether revenue is tracking the GHS268 billion goal. The single most important promise in this Budget is zero central bank financing in 2026; a clean half-year confirmation would outweigh any speech.

Turn Cheap Money Into Jobs, Not Just Cheap Borrowing

Lower rates are already moving the banking system. Private-sector credit grew 41.2% year-on-year to about GHS119.6 billion by June, 34% in real terms, while non-performing loans fell from 23.1% to 16.1%. With the policy rate down from 28% to 14%, conditions for a genuine lending cycle exist for the first time in five years. But credit growth is not living standards. The review should throw light on the utilisation of the GHS10 billion Big Push infrastructure bond and job numbers from the 24-hour economy programme, delivery, not plans. ‘Savers financed this crisis. The review owes them a plan, not a footnote.’

There is a cost to this rotation that deserves attention: a saver who placed GHS10,000 in a 91-day bill now earns about GHS146 over three months, against roughly GHS600 two years ago, a near-zero real return at 5.3% inflation. Longer-dated bonds, collective investment schemes and the Ghana Stock Exchange all offer a better path for that capital, and the Budget should point to it explicitly.

Prove The Cocoa Reset Can Pay Farmers On Time

For 32 years, an offshore syndicated loan financed each cocoa season, pledging 70-92% of the harvest to foreign lenders and costing over US$150 million in interest on the 2023/24 facility alone. Its 2024/25 replacement, upfront payment by global buyers, left farmers waiting when traders held back. From 2026/27, COCOBOD will instead fund the crop domestically in cedis through a roughly US$1 billion bond and commercial-paper programme, open to pension funds and non-resident investors. A companion Cocoa Board Bill will bar quasi-fiscal spending, guarantee farmers at least 70% of the gross export price, and mandate that half the crop be processed locally, changes that matter to roughly 800,000 farming households. The timing is unforgiving: the international cocoa price has more than halved, from about US$9,155 a tonne in June 2025 to US$4,272 in June 2026, with Ghana’s realised price down 52% year-to-date to US$3,748, squeezing revenue that must also service COCOBOD’s existing GHS32 billion debt.

‘I’m hopeful that there will be a clear confirmation of the issuance timetable and whether farmer arrears from the failed 2024/25 season are fully cleared. We also need to explain how the domestic market absorbs cocoa bonds alongside the GHS20.2 billion sovereign programme and the GHS10 billion Big Push bonds without pushing yields back up’, Julien added.

Level With Us On Gold And The Cedi

The cedi’s recovery from about GHS16 to the dollar in October 2024 to GHS11.45 by May 2026 is real and visible in the price of appliances, medicine and cars. It is also being tested: the rate closed at GHS11.55 on 17 July, a 9.5% year-to-date depreciation. Record gold prices did much of the work behind the recovery, but gold’s monthly average has fallen from above US$5,000 an ounce in February to about US$4,240 in June as markets price a possible Fed rate move in September. Gross reserves fell from US$14.2 billion in March to US$12.9 billion in June, a US$1.2 billion drawdown in a single quarter, taking import cover from 5.7 to 5.0 months. ‘A windfall saved is a buffer; a windfall spent is next year’s crisis. The questions are what gold and cocoa prices does the Budget now assume and how much of the reserve build is being treated as cyclical windfall rather than permanent income? What is the contingency if gold falls a further 15%?’, Julien asks.

Figure 2: Gross international reserves. The gold-built buffer gave back US$1.2 billion in Q2.

The Bard For Today’s Review

Government has earned a measure of trust: inflation brought under control, the bond market reopened, the IMF programme completed, the currency stabilised. But the second half is harder, inflation is creeping back, the Gulf remains volatile, IMF oversight is winding down, and the 2027 debt wall is eighteen months away. On 23 July, Ghana does not need celebration. It needs hard numbers, an honest forecast, and delivery figures on the programmes that touch daily life. ‘This review is government’s chance to show its promised reset can hold without a safety net beneath it’, he concludes.

Government has deposited GHS400 million as initial capital for the proposed Women’s Development Bank and says the institution is expected to begin full operations before the end of 2026.

The update was contained in the 2026 Mid-Year Fiscal Policy Review presented to Parliament by Finance Minister, Cassiel Ato Forson.

According to the Minister, the Women’s Development Bank was formally incorporated on 26th January 2026 as WDB GH LTD.

Following the incorporation, the government submitted an application to the Bank of Ghana for the requisite banking license to enable the bank to commence operations.

Capital Requirement Met

To meet the licensing capital requirement, he said the Ministry of Finance has deposited GHS400 million into an account with the Bank of Ghana as seed capital for the new bank.

Officials said the deposit fulfills a key condition for regulatory approval.

Dr. Forson said the Women’s Development Bank is being established to expand access to finance for women entrepreneurs, traders and SMEs, and to support women-led businesses across the country.

The review stated that the bank is expected to commence full operations before the end of the year, subject to final approval from the Bank of Ghana.

The announcement forms part of government’s broader agenda under ‘Resetting for Growth, Jobs, and Economic Transformation,’ with a focus on financial inclusion and job creation.

Actress, Vivian Jill Lawrence, is mourning the sad loss of her elder sister, Mabel Adwoa Intuah, popularly known as Aunty Mabel, who reportedly passed away on Thursday, July 23, 2026.

Mrs Intuah was the founder and Chief Executive Officer of Mayan Stitches, a fashion brand.

Her death comes just weeks after reports that she celebrated her 50th birthday.

A video circulating on social media shows the grieving actress in tears at the airport as she travelled to Accra following the sad news. In the emotional clip, Vivian Jill appears visibly heartbroken while receiving support from people around her.

Another video also captured the actress walking through the airport with two men by her side as she prepared for her journey.

The news of Mabel Intuah’s passing has shocked many, with fans and well-wishers expressing their condolences to Vivian Jill and her family on social media.

Flagbearer of the New Patriotic Party (NPP), Dr. Mahamudu Bawumia, yesterday led a high-level delegation of party executives to the Nsawam Medium Security Prison to visit jailed Ashanti Regional Chairman, Bernard Antwi-Boasiako, popularly known as Chairman Wontumi.

Mr. Antwi-Boasiako is serving a 20-year jail term following his conviction by the Criminal Division of the Accra High Court for unlawful assignment of mineral rights and facilitating illegal mining on the Samreboi concession in the Western Region, on July 20, 2026.

High-Powered NPP Delegation

Dr. Bawumia was accompanied by several NPP heavyweights, including former NPP National Chairman, Freddy Blay, Minority Leader, Alexander Afenyo-Markin, and NPP General Secretary, Justin Frimpong Kodua and Chief of Staff at Dr. Bawumia’s Office, Osei Kyei-Mensah-Bonsu.

Members of Parliament (MPs) including MP for Effiduase/Asokore, Dr. Nana Ayew Afriyie, MP for Akuapim North, Sammi Awuku, MP for Kumawu, Ernest Yaw Anim, MP for Odotobri, Tony Mmieh, MP for Juaben, Francis Kwabena Berepong Owusu-Akyaw, MP for Kwadaso, Prof. Kingsley Nyarko, Greater Accra Regional Chairman Divine Otoo Agorhom, and MP for Sabin, Obiri Yeboah, and other party officials were at the Nsawam Prisons as well.

Party’s Continued Backing

Prison officials received the delegation and took them through standard access procedures before they were granted access to the Ashanti Regional NPP Chairman.

According to sources, Dr. Bawumia used the visit to assure Mr. Antwi-Boasiako of the party’s support and to brief him on the appeal process currently underway.

Mr. Antwi-Boasiako was said to be in high spirits during the meeting. Sources said he expressed optimism and insisted his ‘spirit remains unbroken’ as he pursues further legal avenues.

Residents around the Nsawam Medium Security Prison gathered as the convoy left the facility. Some were seen waving as the vehicles departed, accounts relayed to Daily Guide indicated.

Parliament has approved three World Bank credit facilities worth a combined US$822 million to finance road infrastructure, secondary education and statistical development projects across the country, despite concerns from the Minority over the country’s growing reliance on borrowing.

The facilities comprise a US$500 million credit agreement for the Ghana Market Access and Connectivity Project (GMACP), a US$300 million facility for the Secondary Education Transformation for Access, Relevance and Results for Jobs (STARR-J) Project, and US$22 million in additional financing for the Harmonising and Improving Statistics in West Africa Project.

The approvals followed extensive debate in the House, with both the Majority and Minority supporting the facilities while disagreeing over the government’s fiscal management and the need for additional borrowing.

Projects

The Ghana Market Access and Connectivity Project is aimed at improving all-season farm-to-market roads and strengthening rural transport infrastructure to support agricultural development and reduce post-harvest losses.

The facility carries a maturity period of 30 years with a five-year grace period and will be complemented by US$23 million in counterpart funding from the Government of Ghana.

The International Development Association (IDA) project seeks to address overcrowding, inadequate infrastructure, shortages of laboratories and ICT facilities, and improve the relevance of secondary education to labour market needs.

The STARR-J project will finance the rehabilitation and construction of secondary schools, teacher development programmes, digital learning initiatives, technical and vocational education reforms, and improvements in education management systems. It also includes provisions for emergency response interventions.

The third facility, valued at US$22 million, will provide additional financing for the Harmonising and Improving Statistics in West Africa Project to strengthen statistical systems in Ghana and six other West African countries.

The financing is expected to support data collection, statistical harmonisation, technological upgrades and the rebasing of key economic indicators, including the Consumer Price Index and Gross Domestic Product.

Revenue Failures for New Loans

During the debate, the Tano North MP, Dr. Gideon Boako, criticised the government for resorting to borrowing to fund critical investments, arguing that poor revenue mobilisation was forcing the state back to the debt market.

According to him, the government had failed to meet several revenue targets, including collections from VAT, the National Health Insurance Levy, the GETFund levy, crude oil receipts and import duties, resulting in expenditure cuts and increased borrowing.

He contended that revenues generated domestically should be sufficient to finance education and other essential investments rather than relying on loans.

Ofoase-Ayhirebi MP

The MP for Ofoase-Ayirebi, Kojo Oppong Nkrumah, also expressed concern about the scale of borrowing shortly after Ghana exited the IMF programme.

He observed that the three facilities, together with borrowing provisions in the national budget, amounted to almost US$1 billion in new debt commitments.

While supporting the facilities, Mr. Oppong Nkrumah urged the government to improve revenue collection and adopt a whole-of-government approach to expenditure management to avoid future debt sustainability challenges.

Minority Leader

The Minority Leader, Alexander Afenyo-Markin, similarly backed the education investment but argued that better economic management could have reduced the need for additional borrowing.

He maintained that losses associated with the Bank of Ghana’s gold-for-reserves policy had contributed to the current fiscal pressures and said the Minority would closely monitor the implementation and procurement processes associated with the approved projects.

Government Response

Responding on behalf of the government, the Deputy Finance Minister, Thomas Nyarko Ampem, defended the facilities, particularly the education loan, insisting that the funds would not be used to finance Free Senior High School but rather to expand infrastructure and improve educational quality.

The Deputy Minister further stated that 86 percent of the US$300 million facility would be invested directly in school infrastructure, while an additional US$20 million would be used to provide furniture and textbooks for students nationwide.

Mr. Ampem stressed that the facility was highly concessional, carrying a 30-year repayment period and a five-year grace period, and represented one of the most favourable financing arrangements available to Ghana.

‘Signature’, an Afrobeat song by Ghanaian artiste KiDi featuring Lasmid, has entered the Billboard US Afrobeats chart this week.

The track currently sits at No. 39 on the chart, further highlighting its growing dominance in the music space.

Last week, it peaked at No. 30 after debuting at No. 40. This marks its 11th week on the chart.

‘Signature’, released on April 29, 2026, is a massive hit collaboration between Afrobeats stars KiDi and Lasmid.

Produced by Ugly and Tough, the smooth Afropop-meets-Highlife record topped the Apple Music charts in Ghana for over a week.

The song has taken over the Ghanaian music scene, resonating heavily with fans across Accra and beyond.

The Speaker of Parliament, Alban S.K. Bagbin, has directed Members of Parliament (MPs) to comply with a new government directive regulating the use of police escort services and vehicle sirens, warning that offenders could face enforcement action by the Ghana Police Service.

Addressing Parliament yesterday, Mr. Bagbin said his office had received a communication from the Minister for the Interior requesting that lawmakers and the Parliamentary Service be informed of the directive, which seeks to ensure the lawful and accountable use of state security resources.

The directive requires that no individual install or use a siren on either an official or private vehicle without prior written authorisation from the Minister for the Interior.

It also stipulates that no person may use police resources, particularly police escort services, without written approval from either the Interior Minister or the Inspector General of Police acting on behalf of the minister.

Conveying the contents of the communication to the House, the Speaker urged MPs to take note of the requirements and ensure strict compliance.

‘Accordingly, I encourage all members to take note of the contents of the directive and to ensure that, in the use of police resources, police escort services and sirens, members act at all times in accordance with the Constitution, the laws of Ghana and all lawful administrative requirements,’ he stated.

Mr. Bagbin disclosed that the Ghana Police Service had been directed to enforce the new measures, including the removal and seizure of unauthorised sirens, the withdrawal of unauthorised police escort services and the institution of legal action where necessary.

The Speaker stressed that the efficient and lawful use of public resources was a matter of national importance, noting that police personnel and logistics were national assets that must be deployed judiciously and in accordance with the law.

‘The Ghana Police Service performs critically important constitutional functions relating to the maintenance of law and order, the protection of life and property, and the preservation of public safety,’ he said.

According to him, the indiscriminate installation and use of sirens undermines road safety, weakens public confidence in lawful authority and reduces the effectiveness of emergency and security services that genuinely require priority access on the roads.

Mr. Bagbin reminded lawmakers that Parliament had consistently enacted legislation aimed at promoting accountability, transparency and prudent management of public resources, making it imperative for MPs to lead by example.

‘As lawmakers and representatives of the people, we bear an even greater obligation to demonstrate fidelity to the laws that we enact and to uphold the highest standards of public conduct,’ he said.

The Speaker further advised MPs who may require clarification on the application of the directive to seek guidance through the appropriate institutional channels to ensure compliance with the law.

He assured the House that the Office of the Speaker would continue to engage constructively with the Executive, the Ghana Police Service and other relevant state institutions on issues concerning security operations, parliamentary privileges and the independence of Parliament.

Actress and media personality, Nana Ama McBrown has revealed that she was once physically assaulted by a film director during the early years of her acting career.

Speaking in an interview with Anita Akuffo on TV3 on July 20, 2026, McBrown said she was slapped twice on a movie set but decided to continue working because she was determined to succeed in the industry.

According to her, the incident was one of the many sacrifices and challenges she had to endure while building her career.

‘Some people can’t stand pressure, but in this line of work, there’s a lot of pressure. Our director slapped me twice on set, and I continued working. He shouted at some people, and they never returned to the set again, but I stayed after taking the slap. I knew I wanted to be there, so nothing stopped me,’ she said.