Category: Daily Guide Network

Fidelity Bank Ghana has convened a landmark Debt Capital Markets Conference to explore how Ghana can convert its hard-won macroeconomic stability into efficiently priced, long-term capital for productive investment.

The conference, held under the theme, ‘Lower Rates, Higher Opportunity: Unlocking Growth Through the Debt Capital Markets,’ brought together the Bank of Ghana, Ministry of Finance, Ghana Stock Exchange/Ghana Fixed Income Market, Securities and Exchange Commission, National Pensions Regulatory Authority, institutional investors, issuers and market leaders.

It marked a shift in the national conversation from strengthening economic fundamentals to building foundations for durable growth in the debt capital markets.

Managing Director of Fidelity Bank Ghana, Julian Opuni, said improving conditions now present a genuine opportunity after three years focused on stabilisation.

‘For capital-market participants, improving macroeconomic conditions are not an end in themselves. The practical question is how we convert macroeconomic stability into efficiently priced, long-term capital for productive investment,’ Mr. Opuni said.

He argued that a growing economy cannot rely on a single funding channel and disclosed that Fidelity Bank has supported debt capital-market transactions with an aggregate value exceeding GHS30 billion.

‘A deep debt capital market is built transaction by transaction, but it develops institution by institution,’ he said.

Delivering the keynote, Governor of the Bank of Ghana, Dr. Johnson Pandit Asiama, said real GDP growth reached 6.4 percent in the first quarter of 2026, headline inflation had fallen from a peak of 54.1 percent in December 2022 to 4.6 percent in July 2026, and gross international reserves stood at US$12.9 billion.

He described the reopening of the domestic bond market in March after the expiry of the three-year restriction imposed under the Debt Exchange as the most significant development of the year.

‘This is a milestone, a transition from crisis management to active, orderly debt management,’ Dr. Asiama said.

He said the true measure of a deeper market would be seen in ‘that power project that was completed, that factory that expanded, the housing development that was financed, and the SME that finds room on a bank’s balance sheet because the right capital reached the right use.

‘Managing Director of the Ghana Stock Exchange, Abena Amoah, said markets are ultimately institutions of trust built through cooperation, reflecting on the decade-long journey since the founding of the Ghana Fixed Income Market in 2015.

She noted that Ghana’s debt capital market remains heavily concentrated around sovereign issuance, with corporate securities representing only a small fraction of activity.

‘A market built predominantly around one issuer cannot achieve its full potential without broader private-sector participation,’ she said, calling on banks like Fidelity Bank to lead as issuers and as originators for their corporate clients.

Technical Advisor at the Ministry of Finance, Dr. Theophilus Acheampong, assured that recent reforms, including legislated fiscal rules, an independent fiscal council and a resourced sinking fund, were designed to institutionalise stability and prevent a relapse.

Ghana recorded a trade surplus of $4.3 billion in the first quarter of 2026, driven largely by strong gold exports, data from the Ghana Statistical Service (GSS) has shown.

According to the First Quarter Trade Newsletter released by the GSS, the country exported goods worth US$10.2 billion during the period, while imports amounted to US$5.9 billion.

The Government Statistician, Dr. Alhassan Iddrissu, said the figures meant that ‘for every 100 cedis that Ghana earned from exports, 58 percent went back out on imports.

He, however, cautioned that the headline surplus largely reflects the value of goods at prevailing prices.

‘Once we strip out rising prices, Ghana actually received more goods than it shipped; that is, exports of US$2.6 billion against imports of $3.2 billion,’ Dr. Iddrissu explained.

Gold remained Ghana’s biggest export during the quarter, generating US$5.9 billion in export earnings.

Cocoa exports also improved, but Dr. Iddrissu warned that Ghana’s export earnings remain concentrated in a narrow range of commodities.

He noted that much of the increase in export prices during the quarter was driven by gold, further highlighting the commodity’s dominant role in Ghana’s external trade.

The Government Statistician also raised concern about the concentration of Ghana’s export markets.

‘India and Switzerland together took more than a third of what Ghana sold,’ he revealed.

The party is also demanding details of the prices, discounts, financing arrangements and other commercial conditions under which the gold is being sold, arguing that Ghanaians have a right to know how the country’s mineral wealth is being traded.

The call was made by a member of the NPP’s Policy Coordinating Committee on Finance and Economy and former Finance Minister, Dr. Mohammed Amin Adam, at a press conference yesterday.

Dr. Amin Adam said the disclosure of the information would enable the public to assess whether the transactions were commercially beneficial to Ghana and whether the country was obtaining adequate value from its gold.

‘We want to know the names of the foreign buyers of Ghana’s gold and the discounts and commercial terms they were given. Those contracts must be published,’ he said.

He alleged that discounts granted to buyers had been a factor in the financial losses associated with the gold purchasing programme and questioned why the relevant agreements had not been made available for public scrutiny.

The former Finance Minister also criticised moves to enable foreign buyers to pre-finance gold purchases. He argued that such an arrangement could strengthen the bargaining position of the buyers and potentially affect the prices at which Ghana’s gold was ultimately sold.

‘Allowing foreign buyers to pre-finance purchases of gold would deepen the very discounts that have been draining value from the programme,’ he alleged.

Dr. Amin Adam further raised concerns about the cost of replacing Bank of Ghana financing with commercial bank funding.

He said commercial lenders would impose interest and guarantee charges, unlike the central bank, which he said had previously provided interest-free financing for the gold purchases.

‘Financing through commercial banks, as we now know they are doing, brings interest and guarantee costs because commercial banks will charge them. The Bank of Ghana pre-financed them interest-free. It is not going to be the same,’ he stated.

The NPP has consequently asked Finance Minister, Dr. Cassiel Ato Forson, to explain whether the government intends to guarantee the proposed financing arrangement.

The party also wants the Minister to state the specific legal authority that would permit such a guarantee.

‘We are asking the Finance Minister whether the Ministry will guarantee this new financing and under what legal authority,’ Dr. Amin Adam said.

Beyond the identity of the foreign buyers, the NPP is demanding details of the financial relationship between Ghana Gold Board (GoldBod) and the Bank of Ghana.

Dr. Amin Adam specifically called for the publication of the agreement covering the reported transfer of about GHS133 billion in central bank funds through GoldBod.

‘We have not seen that agreement. What are the terms between GoldBod and the Bank of Ghana?’ he asked.

He said the documents being requested were already in existence and maintained that some were subject to statutory disclosure requirements.

The NPP has also proposed a joint reconciliation of the financial figures by GoldBod, the Bank of Ghana and the Ministry of Finance to resolve what it described as inconsistencies in the accounts relating to the gold transactions.

Dr. Amin Adam said the reconciliation should provide a clear picture of the funds committed to the programme, the income generated and the losses incurred.

The former Finance Minister maintained that publishing the relevant contracts and financial information would promote transparency and allow Ghanaians to independently determine whether the country was receiving fair value for its gold.

The Asantehene, Otumfuo Osei Tutu II, says the relegation of African culture to mere entertainment is a grave mistake that undermines development, governance and the future of society.

Speaking on the theme ‘Governance, Culture and Diaspora,’ the 16th occupant of the Golden Stool told faculty and students at the Howard University that culture is far more than ceremonial display.

‘This brings me to culture. Culture is frequently treated as entertainment: appearing at festivals, tourism events, diplomatic ceremonies, and national celebrations, while being too often absent from serious conversations about development, governance, and the future of society. This is a mistake,’ the Asantehene stated.

According to him, culture is not merely about dance, clothing, food and ceremony, though those are important. ‘Culture includes language, morality, historical memory, family organisation, spirituality, political philosophy, customary law, artistic expression, methods of conflict resolution, environmental understanding, and ideas about what constitutes a good human life,’ he explained.

He noted that culture defines the identity of a group of people and provides the intellectual and moral vocabulary through which they understand life’s key moments – birth and death, childhood and adulthood, marriage and family, authority and responsibility, suffering and hope.

‘A society that loses confidence in its culture eventually loses confidence in itself,’ Otumfuo warned.

He stressed, however, that cultural preservation does not mean freezing society in the past. ‘Culture is not a dead object to be placed behind glass; it is a living heritage that must be understood, practiced, questioned, renewed, and transmitted. Modernity must not be confused with imitation,’ he said.

On the diaspora, Otumfuo said the relationship must be built on mutual respect and strategic cooperation. ‘The relationship between Africa and its diaspora must therefore be built on mutual respect, shared history, and practical cooperation. It must not be reduced to nostalgia or romanticism, but developed as a strategic partnership for intellectual, economic, cultural, and social renewal,’ he stated.

Tracing the history of forced migration through the transatlantic slave trade, he said its consequences remain visible in inequality and cultural displacement, but stressed that the diaspora story is also one of resilience.

‘The history of the African diaspora cannot be written only as a story of victimisation, because it is also a story of survival, intellectual courage, scientific innovation, and cultural creativity,’ Otumfuo said.

‘Those who crossed the Atlantic under conditions of extreme violence carried more than their bodies: they carried memory, spirituality, rhythm… and an unyielding desire for freedom.’

He added that Africa needs the skills, capital and global reach of its diaspora, while the diaspora benefits from a deep reconnection to its historical roots and spiritual home.

Veteran Ghanaian gospel musician Bernice Offei, 63, has been reported missing after she was last seen on September 1 around Nyaho-Tamakloe Street, Agbogba in Accra.

Her family says they have not heard from her since and are appealing to the public for assistance.

Anyone with information on her whereabouts is urged to contact 024 878 1971 / 024 755 3431 or report to the nearest police station.

Bernice Offei, born in Accra on February 25, 1969, is one of Ghana’s most celebrated gospel musicians, popularly known for timeless hits like ‘Hold On’ and ‘Life Is So Short.’

Her music career began in 1979 and she released her debut album ‘We Are Victors’ in 1991, followed by her breakthrough album ‘Hold On’ the same year. She has six albums to her credit, including ‘Me Kosu’ (2003), ‘Grateful’ (2004) and ‘Life’ (2007).

Her 2007 album ‘Life’ won her Best Female Vocal Performance and Songwriter of the Year at the 2009 Ghana Music Awards.

She is married to Prof. Samuel Kwame Offei, a former Pro-Vice Chancellor of the University of Ghana, and is a mother of two

The media has been urged to uphold information integrity through responsible reporting, to help prevent misinformation which has the tendency to deepen social divisions as well as create conditions that threaten security and stability of the country.

Deputy Presidential Spokesperson, Shamima Muslim, made the call when she represented the Minister of State in charge of Government Communications, Felix Kwakye Ofosu, at a capacity-building workshop on responsible security reporting organised by the Private Newspapers and Online News Publishers Association of Ghana (PRINPAG) in Accra.

She warned that failure to maintain information integrity could amplify existing challenges in society and expose the country to security threats experienced in some parts of the Sahel region.

‘When we fail on information integrity, we amplify our internal fault lines, Northerners versus Southerners, Christians versus Muslims, electoral commission versus political parties. And then we invite the Sahel home,’ she stated.

Ms. Muslim noted that a pattern had emerged in countries such as Burkina Faso, Mali and Niger, where information manipulation was used to weaken public trust in institutions.

‘In the Sahel, the playbook is clear. First, flag social media with government footholds. Then discredit traditional media as elite and disconnect them from reality. Then present the uniform as the saviour. When we rise above our narrow interests, journalism and politics defend democracy and protect the public good,’ she stated.

Ms. Muslim said Ghana’s security environment required stronger collaboration between the media and state institutions, particularly as the country operated in a region facing terrorism threats, internal tensions and an information war that moved faster than conventional conflicts.

The Deputy Government Spokesperson said the relationship between the media and politics had historically contributed to the protection of democracy, citing the role of journalists in advocating for constitutional rule, the passage of the Right to Information Act, and exposing corruption through investigative journalism.

She, however, expressed concern about challenges confronting the print media, including technological disruption, declining advertising revenue and a credibility crisis caused by the spread of unverified information.

She observed that while print media circulation had declined significantly over the years, its role as a credible source of records, context and historical documentation remained critical.

‘Radio is fast. Television is dramatic. Online is viral. Print is record. Print is what resides in courts, in handouts and in history books. If print loses relevance, we lose our national memory,’ she said.

She, therefore, stressed that accurate reporting was particularly important during security crises, as careless headlines and unverified claims could damage public confidence and fuel tensions.

Ms. Muslim also urged authorities to also improve communication by providing timely and accurate information to prevent speculation, as accurate official information, if delayed, will rightly fill the vacuum, adding that where operational details cannot immediately be disclosed, authorities should explain those limitations honestly and provide verified updates as circumstances permit.

The workshop, held under the theme ‘Media as a Strategic Partner in Preventive and Early Warning in Ghana,’ brought together stakeholders including the National Security Coordinator, COP Abdul-Osman Razak, and the Director-General of the Cyber Security Authority, Divine Selase Agbeti.

Samuel Atta Akyea, lead Counsel for former Director-General of National Signals Bureau, Kwabena Adu Boahene and his wife, Angela Adjei-Boateng, is expected to conclude his cross-examination of the prosecution’s last witness in a trial where they are accused of stealing and causing financial loss of GHS49.1 million to the state.

The lawyer’s extensive cross-examination of the witness, Frank Cromwell Marshall, the lead investigator, has exposed gaps in the prosecution’s allegations of the disputed GHS49.1 million loss.

One of the major issues under contention is the Attorney General’s description of National Security Coordinator’s bank account at Fidelity Bank as ‘State BNC’ while describing the BNC Communications Bureau Limited account at UMB Bank as ‘Private BNC’ belonging to Mr. Adu-Boahene and his wife.

Mr. Atta Akyea has been able to get the prosecution’s last witness, Frank Cromwell Marshall to admit that Mr. Adu-Boahene did not have sole control of the account from which the GHS49.1 million originated, and that about GHS9.5 million was paid directly to ISC Holdings, the Israeli company contracted to supply the cyber security system to Ghana.

The investigator has also confirmed that the Fidelity Bank account had three signatories: the late Joshua Kyeremeh, then National Security Coordinator; Seth Danso, Head of Finance at the Office of the National Security Coordinator; and Kwabena Adu Boahene, then Director-General of National Signals Bureau.

A fundamental revelation from the extensive cross-examinations is the admission that there is no government agency known as ‘State BNC,’ as what is being referred to as ‘State BNC’ was actually a special operations account established and operated by the National Security Coordinator at Fidelity Bank.

The witness also confirmed that two signatures were required for withdrawals from the said account, which means Mr. Adu-Boahene alone could not access, withdraw or transfer funds from the account without another signatory approving the transaction.

Another significant revelation made by the investigator is that the three cheques totalling GHS49.1 million were signed by Joshua Kyeremeh and co-signed by Mr Adu Boahene.

Another major issue at stake is the prosecution’s narrative that the GHS49.1 million was obtained under the guise of procuring a cyber-defence system and subsequently misappropriated.

However, the defence maintains that the funds were connected to National Security operations and that the evidence does not establish that the entire GHS49.1 million was exclusively earmarked for the cyber-defence procurement.

National Security Account

Mr. Atta Akyea, during his further cross-examination of the witness, pointed out to him that the bank statement of the National Security Coordinator’s account at Fidelity Bank contains deposits made by Mr. Adu-Boahene and various national security operatives, including certain names that he mentioned to the witness.

‘There are a lot transactions on the account by some of the names mentioned,’ the witness answered.

Mr. Atta Akyea then asked the witness if it was his case that these funds from Mr. Adu-Boahene’s personal account and cash deposits by some of the names mentioned became funds of the republic by their sheer payment into the Coordinator’s account. The witness said he does not know about that.

‘Did you enquire into why monies from A1’s (Adu-Boahene’s) account and other individuals were paid to the Coordinator’s account?’ the lawyer asked.

‘No,’ the witness answered, while adding that in respect of the April 2020 transfer of GHS7.2 million from Adu-Boahene’s account, Fidelity Bank said after funds had been moved from the Director’s account to BNC Communications account, they approached the Director of BNC to mitigate their losses for which reason Adu-Boahene transferred GHS7.2 million ‘of the stolen funds into the account.’

‘From your own thinking, you are saying that A1 returned GHS7.2 million of the alleged stolen funds to its owner,’ the lawyer further asked.

‘Yes, my Lord,’ the witness answered.

‘I put it to you that careful study of the bank statements of the Coordinator’s account – NSC would have shown you that the named individuals made deposits totalling GHS19,919,736 into the Coordinator’s account – NSC at the Fidelity Bank between August 2017 and February 2025,’ Mr. Atta Akyea further asked.

The story about Salamatu Haruna, a University of Development Studies (UDS), Tamale diploma holder who was in Accra working as a head porter (kayayo) went viral on social media and attracted the attention of the Vice Chancellor of the institution.

Prof. Mohammed Muniru Iddrisu sent for her through a search. She has been found and that has ushered her into a promising future. With the intervention of Prof. Sanatu Mustapha Alidu, Salamatu has secured admission to continue her studies at UDS, with her first-year tuition and accommodation supported. She has also been provided with a decent part-time work opportunity while awaiting the reopening of the university.

The Vice Chancellor has further assured her of support through the No-Fees-Stress policy and Students Financial Aid Scheme when the university reopens.

Salamatu’s promising future should inspire others to put out their story so they too can attract the life-changing attention they deserve; no longer exposed to the dangers of street life in Accra and sleeping on the doorsteps of shops.

Roland Europe Group (REG), the European headquarters of the global Roland Corporation, has appointed Ghanaian business executive and award-winning musician Opoku Sanaa as Head of Sales, Middle East and Africa, effective September 2026.

The appointment was shared by Sanaa in a LinkedIn post marking the beginning of his new chapter with the company, where he wrote simply, ‘I’m finally home.’

In his new role, Sanaa will lead Roland’s commercial strategy and sales operations across the Middle East and Africa, working closely with distributors, retail partners, educational institutions, houses of worship and key industry stakeholders to strengthen the company’s market presence and accelerate sustainable growth across the region.

Sanaa brings nearly two decades of international experience spanning sales leadership, business development, strategic planning, business intelligence and market expansion across Africa and the Middle East.

Before joining Roland Europe Group, he held senior commercial and leadership roles with globally recognised organisations including Yamaha Corporation, Isuzu Motors and Daimler Truck, where he led regional growth initiatives, pricing strategy, market development and commercial performance across multiple international markets. He holds a Master of Business Administration (MBA) from the University of Leicester, UK, and a Bachelor’s degree in Marketing from the University of Professional Studies, Accra (UPSA), Ghana.

His appointment to Roland Europe Group represents the convergence of two lifelong passions – business leadership and music – as he takes on responsibility for one of the company’s fastest-growing international regions.

President John Dramani Mahama has dissolved the Boards of nine state institutions with immediate effect.

The affected institutions are Prestea Sankofa Gold Limited, Bulk Oil Storage and Transportation Company Limited (BOST), Volta Aluminium Company Limited (VALCO), Consolidated Bank Ghana Limited (CBG), Ghana Post Company Limited, Road Maintenance Trust Fund, Tema Development Corporation (TDC) Ghana Limited, Ghana National Petroleum Corporation (GNPC) and the National Sports Authority (NSA).

The dissolution was announced in a statement issued by the Spokesperson to the President and Minister for Government Communications, Felix Kwakye Ofosu.

According to the statement, relevant sector ministers have been directed to take all necessary steps, in accordance with applicable laws and governing instruments, to give effect to the dissolution.

It added that the affected Boards will be reconstituted in due course.