CBK differs with Mbadi on Sh10bn banks’ capital rule

The Central Bank of Kenya (CBK) has differed with the Treasury over the extension of the Sh10 billion capital requirement for commercial banks, ordering lenders to ignore pronouncements by the Cabinet Secretary that eliminated the staggering of the capital over five years.

The CBK has directed banks to stick to the initial plan of raising minimum core capital to at least Sh5 billion by the end of next month, Sh6 billion next year, Sh8 billion in 2028 and Sh10 billion in 2029.

This contradicts the Treasury’s position that set a one-off hard deadline of December 2032 and eliminated the staggered build-up, which spared 14 banks from the burden of raising at least Sh33 billion by the end of December.

The regulator has ordered banks with core capital of less than Sh5 billion to offer written explanations on how they plan to meet the requirement before year-end.

‘There are a few banks where we want them to come and tell us how they are going to meet the target for 2026, which is Sh5 billion.

There are one or two that might struggle, but we want to hear from them how they are going to meet that target,’ CBK Governor Dr Kamau Thugge told the National Assembly Finance and Planning Committee.

‘That is our position and have communicated to the National Treasury expressing that position,’ he added.

Dr Thugge disclosed that the banks whose capital was below the set target were yet to respond to the regulator amid confusion in the sector over the higher core capital.

As at the end of June, 14 banks including Middle East Bank, M-Oriental Bank, Bank of Africa, Premier Bank, Guardian Bank, DIB Bank and Habib Bank AG Zurich, had core capital less than Sh5 billion.

Seven banks, including Credit Bank, UBA Bank, Development Bank of Kenya, African Banking Corporation, Access Bank and Consolidated Bank of Kenya, had not met the Sh3 billion target set for the end of 2025 by June this year.

The CBK had warned it could downgrade banks that fail to meet the capital requirements to microfinance banks, but no action has been taken against those lagging.

Sources within the sector indicated the Treasury did not consult the CBK when it decided to extend the deadline following lobbying by small banks, which were under pressure to meet the requirements.

Treasury Cabinet Secretary John Mbadi tabled the proposal to extend the deadline a day after the regulator told the market that the deadline would not be extended and banks should work towards meeting the Sh5 billion target for this year.

The regulator has now stamped its authority in the industry and is asking banks to stick to the capital-raising schedule in the law.

‘The National Treasury has no regulatory mandate. Anybody rational will choose to go with what the Banking Act says and not some statement made on the floor of Parliament without legal backing,’ said a CEO in a top bank, who spoke on condition of anonymity.

Mr Mbadi did not make amendments to the Banking Act to remove the scheduled capital-raising plan despite proposing legal changes to back the extension and removal of the staggered fundraising.

‘I will be proposing amendments to the timelines specified in the Business Laws (Amendment) Act 2024 to allow commercial banks to raise the minimum core capital to Sh10 billion by December 31, 2032 without the annual milestones,’ said Mr Mbadi during the budget statement on Thursday.

Mr Mbadi had argued the amendments would ensure flexibility for the banks to pursue capital raising while preserving shareholder value and sustaining investor confidence.

Kipngetich retires from Jubilee Holdings after 9 years

Julius Kipngetich is set to retire from Jubilee Group after nearly nine years as the insurer’s chief executive officer. Dr Kipngetich’s term will end on November 30, 2026, having been appointed to the role on January 1, 2018.

He will be replaced by Juan Cazcarra, who has been the company’s deputy CEO.

‘Jubilee has appointed Juan Cazcarra as its new Group Chief Executive, effective December 1, 2026. He succeeds Dr Julius Kipngetich, who has served in the position since 2018 and will retire on November 30, 2026,’ the company said in a statement.

The insurer implemented major changes during Dr Kipngetich’s tenure aimed at, among other things, simplifying the business and focusing on more profitable insurance operations.

Jubilee, for instance, initiated its exit from the general insurance business in 2020 when it reached an agreement to dispose of its majority interests in the units to insurance giant Allianz.

The company last year moved its headquarters to a property it purchased from Coca-Cola in Nairobi’s Upper Hill. Jubilee also increased its investments in some of its key portfolio companies, including Uganda’s power producer Bujagali and fibre optic network firm Seacom.

‘We extend our sincere appreciation to Dr Julius for his exceptional leadership and dedicated service to Jubilee,’ Jubilee Chairman Zul Abdul said in a statement.

‘His contribution has been instrumental in strengthening the group’s position in the region, championing sustainable growth and developing the talent that will shape our future. We wish him every success and fulfilment in his retirement.’

The new CEO brings more than 20 years of experience in the insurance industry, having held senior leadership roles across Europe, Southeast Asia and Africa.

Mr Cazcarra joined Jubilee in 2021 as chief operating officer before later taking up the deputy CEO role in April last year.

‘During his tenure, Juan has played an important role in advancing the group’s digital transformation agenda, improving operational efficiency, simplifying processes and strengthening service delivery,’ the insurer said.

‘His experience across diverse markets, coupled with his understanding of the group’s business and the broader insurance landscape, positions him to lead the company’s next phase of growth.’

Mr Cazcarra holds a Master of Business Administration (MBA) from Universidad Pontificia Comillas (ICADE) and a bachelor’s degree in Law from Universidad de Zaragoza, both in Spain.

Jubilee is present in Kenya, Uganda, Tanzania and Burundi, serving 1.4 million customers.

Through its life and health insurance businesses, Jubilee provides protection for individuals, families and businesses while expanding access to healthcare and financial security through strategic partnerships, digital innovation and inclusive solutions.

Jubilee Asset Management complements the group with professionally managed investment solutions for individuals and institutions, including money market and fixed-income funds that support wealth creation, capital preservation and long-term financial security.

Pay-TV: Why the proposition is changing

At the end of every month, Kenyan households run an audit nobody talks about openly. School fees. Rent. Transport. Data bundles. And somewhere on that list, a question that would have seemed odd a decade ago: is this subscription still worth it?

The numbers suggest that more households are questioning whether the subscription still earns its place in the monthly budget. Kenya’s pay-TV market shed 85,177 active subscriptions in the first three months of this year alone, a 5.1percent drop in a single quarter, according to the Communications Authority. The decline touched almost every operator.

That split matters. It means this isn’t simply a story about pay-TV losing to streaming, or Kenyans falling out of love with television. It’s a story about which providers still feel worth paying for, and which don’t.

The problem was never really about the number of channels on offer. It is about the relationship between price, perceived value, choice and content.

Consumers are weighing all four when deciding whether a subscription still makes sense for their household. For businesses, that means responding to changing expectations cannot be reduced to a pricing decision or simply adding more to an existing package. The opportunity is to look at the proposition as a whole.

The easy assumption is that people are leaving because pay-TV has become too expensive, while cheaper alternatives have won on price alone. Price is certainly part of the equation. But it does not tell the whole story. Value is not simply a number on an invoice. It is the comparison a household makes each month between what it pays and what it gets to enjoy.

A subscription can be competitively priced and still feel less valuable if the content or features do not match what a household actually wants. Equally, a subscription can justify its price when customers can clearly see the relevance in what they are receiving. That is why the conversation around value is becoming more nuanced. Consumers are not simply looking for the lowest possible price. They want to feel that their subscription reflects how they watch, what they enjoy and what matters to their household.

The industry’s response to changing consumer expectations should not be to take choice away. If anything, consumers want more control over what they pay for and how they use their subscriptions. The challenge is making that choice meaningful.

For a household that primarily wants local entertainment and news, value may look very different from that of a household whose viewing revolves around international sport. A parent may prioritise children’s programming, while another household may be willing to pay more for live football or premium entertainment. The point is not that consumers want fewer options. It is that they want options that make sense for the way they actually live.

That puts a different responsibility on businesses. Choice should make it easier for customers to find the proposition that fits their needs

Content remains one of the strongest reasons people choose to pay for entertainment.

A household may tolerate a higher monthly bill when a subscription gives it something it cannot easily replace elsewhere; a major sporting event, a local production everyone is talking about, or programming that serves the whole family. What has changed is not the importance of content, but the way consumers assess it.

Put the three together, and today’s viewer isn’t really choosing between value, choice and content. They’re quietly demanding more of all three at once; more value for every shilling spent, more choice that’s easy rather than exhausting to navigate, more content that reflects their lives rather than just a bigger catalogue.

African banking giants build war chest for Kenya takeover deals

Half of the top 20 African banks are building a multi-billion-shilling war chest for Kenya’s banking industry in the race to grab a share of one of East Africa’s most profitable financial services markets.

The lenders are injecting fresh capital into their Kenyan subsidiaries, seeking stakes in local banks or closing buyout deals, enabling local shareholders to pocket billions of shillings in the high-stakes battle.

FirstRand, the second-largest lender in Africa, is the latest top bank on the continent to declare its intention to make an acquisition in Kenya, with a preference for a mid-sized bank.

It joins a growing list that includes Standard Bank Group, Nedbank, Zenith, CIB Egypt, Access Bank and Absa Group, whose members are scouting for stakes to acquire or injecting additional capital to deepen their presence in the country.

Kenya’s appeal lies in its gateway role in the East African Community, a fast-growing bloc whose economies are expanding by at least 5 percent a year.

Kenya’s move to raise banks’ minimum capital from Sh1 billion in 2024 to Sh10 billion by 2032 is expected to spur further consolidation in the sector, which also appeals to lenders as a hub for travel and regional bank headquarters.

Relatively solid financial regulation, easy repatriation of dividends and the freely traded shilling add to the attraction.

‘One of the major reasons is that the Kenyan market still provides exceptional returns. This makes Africa’s top banks seek growth beyond their sluggish home markets, especially South African banks,’ said Shadrack Manyinsa, senior research analyst at Pergamon Investment Bank.

‘The review of minimum capital to Sh10 billion by 2032 continues to create some acquisition windows and a need for some of these large African banks,’ he added.

South Africa’s slow growth and mature sector are pushing its biggest banks to expand elsewhere.

In the last five years, Kenyan banks have delivered average returns of 23 percent, while South African lenders averaged 16 percent.

The National Treasury’s bid to raise funds through the sale of strategic assets also opens a window for deal-making by Africa’s top banks.

The government owns two small lenders, Development Bank of Kenya and Consolidated Bank of Kenya, while also holding a 19.7 percent stake in KCB Group, the country’s largest bank by asset base.

Analysts reckon the Kenyan market is a hard nut to crack, with some continental giants unable to replicate their domestic success in Kenya.

Despite having huge capital at their disposal to expand their presence in the country, most continental banks are still classified as Tier III lenders years after entering the Kenyan market.

‘Foreign lenders face strong competition from leading domestic incumbents, largely because of their deep branch, agent and mobile money networks built over decades, entrenched customer relationships, trust, and faster local execution,’ said Melodie Ndanu, a research analyst at Standard Investment Bank.

Some of the top 20 African banks whose subsidiaries are classified as small banks in Kenya include Bank of Africa, Guaranty Trust Bank, CIB Egypt, United Bank of Africa (UBA) and Access Bank.

Competition from the country’s entrenched domestic lenders is limiting their returns, as incumbents, including Equity Group, Cooperative Bank and KCB Group, leverage large customer bases, regional reach and mobile platforms.

Nigeria’s Access Bank bought National Bank of Kenya from KCB Group last year with plans to merge the two institutions to create a more formidable player in the Kenyan market.

Nedbank has sought to circumvent the process of growing organically by buying into a large bank in the market. Nedbank, ranked the fifth-largest lender in Africa, is in the process of completing a 66 percent acquisition of regional listed lender NCBA Bank in a Sh110 billion deal.

Analysts say an acquisition of another large bank in the Kenyan market would come with a heavy premium, which could turn off suitors.

The top African lenders have large balance sheets, giving them the financial muscle to acquire local Tier I banks, whose size is relatively small compared with that of the continental giants.

Standard Bank Group, ranked the largest bank in Africa, has Tier I capital of $16.1 billion, which is more than double the combined total of Kenya’s top five lenders at $7.4 billion.

FirstRand’s full-year profit of Sh309.4 billion was higher than the country’s total banking sector profit before tax of Sh306.3 billion.

‘Kenyan banks aren’t easy targets; it depends on the target acquisition’s control premium, profitability, customer franchise, strategic imperatives, shareholding considerations, and integration capacity,’ said Ms Ndanu.

She, however, noted that foreign banks still have various strengths that can help them serve their target clientele, such as international and pan-African networks, capital and funding capacity, and robust corporate and institutional banking capabilities.

‘Kenya is not an end in itself, but a platform for East Africa,’ said CIB Egypt, the eighth-largest lender on the continent.

‘We are in early conversations with regulators about expansion into neighbouring markets, and we expect Kenya to serve as the hub for a broader regional presence.’

CIB Egypt entered the Kenyan market in 2020 through the acquisition of a 51 percent stake in the small lender Mayfair Bank for Sh4.55 billion ($35.3 million). In 2023, it acquired the remaining stake in a transaction valued at Sh5.16 billion ($40 million).

The Egypt-based lender last year injected an additional Sh1 billion into the bank, underlining its commitment to growing the local lender, which is focused on exploiting the Egypt-Kenya trade corridor.

Nigeria’s top-ranked lender, Zenith Bank, acquired Paramount Bank, a small lender in Kenya, early this year to establish its presence in the region.

‘The business combination positions Paramount Bank Limited as the cornerstone investment vehicle for Zenith Bank Plc’s East African expansion,’ said Paramount Bank.

Entry into Kenya serves as a launchpad for South and West African banks seeking to access the wider East African market, which offers greater growth opportunities.

The resource-rich Democratic Republic of Congo has been a good hunting ground for Kenyan banks that have expanded into the country.

FirstRand, which has operated a representative office in Kenya for 12 years, said it was seeking to acquire a small lender and favoured organic growth instead of buying a top player.

The bank has indicated that it is also weighing entry into the market through other financial services, not necessarily banking.

This means FirstRand could also be eyeing an entry through investment banking, insurance, fund management and other financial services.

Analysts reckon Kenya’s wealth management sector has picked up in the last few years, making it a good option for entry.

Standard Bank Group, which operates in Kenya as Stanbic Holdings, has stated that it is looking for expansion opportunities in the country after missing out on the acquisition of NCBA Group to its compatriot Nedbank.

Absa Group had declared its intention to increase its stake in the Kenyan operation to 85 per cent from 68.5 percent.

The group’s offer to buy additional shares from existing shareholders at the Nairobi Securities Exchange (NSE) flopped, with investors offering it an additional 3.5 percent stake against a tar-get of 16.5 percent, despite the group sweetening the deal with a premium on the share price.

The group has maintained its intention to increase its stake from the new 72 percent to the desired 85 percent.

Moroccan Bank of Africa is set to inject more capital into its Kenyan business, which is operating with thin capital adequacy ratios.

Groupe Banque Populaire, the second-largest lender in Morocco, has previously expressed inter-est in entering the Kenyan market through an acquisition.

Cybersecurity is no longer an IT problem; it is a balance-sheet risk

Kenya’s digital economy is expanding rapidly, with businesses processing payments online, storing data in the cloud and relying on interconnected systems. However, as organisations accelerate digital transformation, they are becoming increasingly exposed to cyber threats.

The scale of the risk is evident.

The Communications Authority of Kenya reported 11.12 billion detected cyber-threat events in the financial year ended June 2026, a 29 per cent increase year-on-year. System vulnerabilities accounted for 10.64 billion events, while malware-related threats rose by nearly 65 per cent. Although these figures do not represent confirmed attacks, they high-light the growing risks facing businesses.

Cybersecurity Awareness Month, observed in October under the theme “Don’t Make It Easy for Them”, is a timely reminder that protecting digital infrastructure requires constant vigilance.

A cyber incident is rarely just a technical problem. Ransomware can halt operations, disrupt customer services and lock organisations out of essential records. Data breaches can expose sensitive information, trigger regulatory obligations and undermine customer trust.

According to PwC’s Cyber Digest, titled AI-Driven Defence in the Age of AI-Driven Threats, artificial intelligence is enabling increasingly sophisticated attacks, including automated exploitation of system vulnerabilities, deepfakes and voice cloning to impersonate trusted individuals.

Kenya’s Data Protection Act, 2019, requires organisations experiencing personal data breaches that pose a real risk of harm to notify the Office of the Data Protection Commissioner within 72 hours of becoming aware of an incident. Data processors must notify controllers without delay and, where reasonably practicable, within 48 hours.

Compliance requires clear reporting structures, response procedures and decision-making protocols. Businesses must also strengthen access controls, maintain secure backups, train employees to identify threats and assess third-party security risks.

However, prevention alone cannot eliminate cyber risk. Organisations must also prepare for financial recovery. Cyber liability insurance can cover specified losses arising from covered incidents, including business interruption, data recovery, incident response and legal expenses, depending on policy terms.

Such insurance does not replace security controls or cover every loss. Rather, it complements broader risk-management and business-continuity measures.

Ultimately, cyber resilience is a leadership responsibility. Businesses must be prepared to detect threats, contain incidents, restore operations and manage financial consequences. Their ability to recover may determine whether a cyber incident becomes a temporary disruption or an existential threat.

New Chapter For Ghana’s Bauxite Industry: The Inside Story Of Ghana Bauxite Company, Ecobank $250m Expansion Drive Deal

Ghana Bauxite Company Limited (GBC), Awaso has taken a major step towards transforming its mining operations after appointing Ecobank Ghana PLC as the exclusive mandated arranger for financing facilities of up to US$250 million to support its expansion programme.

The development marks an important milestone in the company’s efforts to modernise its Awaso bauxite mine, increase production capacity and improve the infrastructure required to support long-term growth.

The financing arrangement between Ghana Bauxite Company, Awaso and Ecobank Ghana PLC, held in Accra on October 28, 2026, provides a framework for mobilising the resources needed to invest in mining equipment, haulage systems, materials handling and other essential infrastructure. It also supports working capital requirements as the company prepares to expand its operations.

The facilities comprise a term loan and a revolving credit facility, with Ecobank Ghana responsible for structuring the financing, engaging prospective financial institutions and coordinating the syndication process.

Although the appointment establishes the financing arrangement, the full US$250 million should not be understood as cash already disbursed to the company. The actual amount raised and the final terms depend on the outcome of the financing process.

Nevertheless, the development signals a clear commitment to strengthening GBC’s operational capacity and positioning the company for a more ambitious phase of industrial growth.

Beyond the immediate investment in mining, the initiative carries broader implications for Ghana’s economy, particularly efforts to expand local mineral processing, create employment and retain more value from the country’s natural resources.

Modernising Awaso for Increased Production

Mining is capital-intensive, requiring reliable equipment, efficient transport systems and infrastructure capable of supporting production at scale. For a bauxite operation, the ability to move ore from the mine to processing and export points is particularly important.

GBC’s proposed investment is intended to address these operational requirements by improving equipment availability, haulage capacity and materials handling. The company also expects the financing to provide working capital to support its day-to-day activities.

These investments could help improve operational efficiency, support higher production and strengthen the mine’s competitiveness in international markets.

The financing initiative follows a period of investment in equipment and workforce expansion under the company’s majority shareholder, IOP Group.

According to company figures, GBC has acquired 56 pieces of equipment and 198 trucks, including Sino, RDT, TX 400 dump trucks and Howo 371 vehicles.

The company has also reported a substantial increase in its contract workforce, from 465 to 1,061 workers. Of the reported total, 976 are male and 85 female.

The figures point to an expansion in the operational resources available to the mine, although the long-term impact will depend on how effectively the additional equipment, personnel and proposed financing are deployed.

An investment push under IOP Group

IOP Group acquired approximately 80 per cent of Ghana Bauxite Company in 2022, establishing itself as the majority shareholder and placing the mine at the centre of its industrial ambitions.

Isaac Ofori Poku, chairman of IOP Group and Executive Chairman of GBC, says the company’s objective is to transform the mine into a modern and globally competitive operation.

‘Our ambition is to transform Ghana Bauxite Company into a modern, efficient and globally competitive mining enterprise. We have established the operational foundation and are now taking the necessary steps to support the next phase of growth,’ he said.

The proposed financing arrangement with Ecobank, he added, forms part of the broader plan to build the financial capacity required to deliver that transformation.

‘Our engagement with Ecobank marks an important milestone in building the financial framework required to execute that ambition.

Beyond expanding production, we are developing the industrial platform that can support Ghana’s broader aspirations in beneficiation, alumina refining and value addition,’ Mr. Ofori Poku said.

His comments place the financing initiative within a wider conversation about how Ghana can retain more value from its mineral resources rather than relying predominantly on the export of raw materials.

From bauxite exports to value addition

Ghana has long sought to deepen its mineral-processing capacity and create stronger links between natural-resource extraction and domestic industry. Bauxite presents an opportunity, but also a significant challenge.

The ore is an essential raw material in the production of alumina, which is then used to manufacture aluminium. Developing a domestic processing chain could create opportunities for industrial investment, skilled employment and supporting businesses.

GBC has reported exporting a record 1.7 million metric tonnes of bauxite in 2024 to China and other markets. That performance demonstrates the scale of the company’s export activity and the potential importance of the Awaso operation to Ghana’s mineral trade.

However, higher exports alone do not guarantee that the country will capture the full economic benefits of its bauxite resources. The broader question is whether mining growth can be connected to local processing, industrial development and more extensive participation by Ghanaian businesses.

GBC’s longer-term ambition includes supporting Ghana’s aspirations for beneficiation and alumina refining. Such ambitions, however, remain distinct from the current financing mandate. The appointment of Ecobank does not, by itself, confirm that an alumina refinery has been approved, financed or scheduled for construction.

A refinery would require substantial additional investment and careful assessment of electricity supply, infrastructure, technology, market demand and long-term commercial viability.

The proposed financing could strengthen the mining operation that supplies the raw material, but moving into large-scale processing would involve further decisions and investment commitments.

Jobs and opportunities for local businesses

The expansion of a mining operation can have effects beyond the mine itself. Increased production and investment may generate demand for transport services, equipment maintenance, engineering, catering, logistics and other support activities.

For businesses in and around Awaso, a stronger operation could create opportunities to supply goods and services, while workforce growth could support household incomes and economic activity in nearby communities.

GBC’s reported increase in contract workers provides an indication of the employment associated with its operations. The composition of that workforce also highlights the importance of ensuring that opportunities are accessible to a broad section of the population, including women.

The next challenge will be to translate operational expansion into sustainable employment, skills development and stronger participation by local suppliers.

That will require more than purchasing equipment or increasing output. It will depend on the quality of jobs created, the training available to workers and the extent to which Ghanaian businesses can compete for contracts linked to the mine’s activities.

Balancing growth with responsibility

Mining expansion also brings responsibilities. As operations grow, environmental management, worker safety and engagement with host communities become increasingly important.

The long-term value of the Awaso mine will therefore depend not only on its production figures and financial performance, but also on how effectively the company manages its environmental and social obligations.

Responsible operations can help protect local livelihoods, reduce avoidable environmental damage and build confidence among communities affected by mining activities.

These considerations are particularly relevant if the company’s ambitions eventually extend towards more extensive industrial processing, which would introduce additional infrastructure and environmental requirements.

What comes next?

The appointment of Ecobank Ghana as exclusive mandated arranger marks a significant development in GBC’s plans to finance its next phase of growth. It creates a framework for pursuing funding of up to US$250 million, but the final amount, terms and disbursement remain subject to the financing process.

For GBC, the immediate task is to secure suitable financing and convert it into measurable improvements in equipment, infrastructure, production and operational efficiency.

For IOP Group, the challenge is to demonstrate that its investment can deliver a commercially sustainable mining operation while contributing to Ghana’s wider industrial ambitions.

And for Ghana, the broader opportunity is to use the development of Awaso as part of a more ambitious approach to natural resources-one that combines competitive mining with employment, local enterprise and, where commercially feasible, domestic value addition.

The financing mandate is an important step, but not the final destination. Its significance will ultimately be judged by what it enables GBC to achieve on the ground and whether the growth of the mine can translate into lasting economic benefits for the country.

JUSAG Declares Strike, Judicial Service On High Alert

The Judicial Service Staff Association of Ghana (JUSAG) has declared an indefinite nationwide strike beginning today, November 2, 2026, over the government’s failure to approve the proposed 2026 salary review for staff of the Judicial Service.

The strike, announced in a statement dated October 30 and signed by the Association’s General Secretary, Abdulai Yakubu, will remain in force until the government approves the revised salaries and pays them in November, together with all outstanding arrears from January to October 2026.

JUSAG said the decision followed months of unsuccessful attempts to secure approval for the salary review, which it maintains is required under Article 149 of the 1992 Constitution and Regulation 25 of the Judicial Service (Terms and Conditions of Service) Regulations, 2026 (C.I. 141).

Meanwhile, the Judicial Service has appealed to members of JUSAG to return to work while negotiations continue, assuring them that their concerns are being treated with the seriousness they deserved.

The Service, in a public notice, said it is fully aware of the anxiety the industrial action may cause to persons with matters pending before the courts.

‘Management is currently engaged in urgent and active discussions with the relevant Government stakeholders with a view to achieving a swift and amicable resolution of the underlying issues,’ the notice said.

It further note that the Judicial Service remains resolute in its commitment to upholding the rule of law and serving the public interest, adding that it will continue to monitor the situation closely and provide timely updates to the public as developments unfold.

Indefinite Strike

The Association said it submitted proposals for the 2026 salary review to the Judicial Council in December 2025. After delays in the process, it subsequently wrote to the Council to expedite its work.

The Judicial Council eventually completed its deliberations and submitted its recommendations to the President for approval.

However, JUSAG said approval from the Office of the President had not been forthcoming despite repeated reminders and appeals. It said the appeals had been heard but had not resulted in any action.

The Association said it had notified the National Labour Commission (NLC) of its intention to embark on an indefinite strike on October 23, giving government and other relevant stakeholders advance notice of the impending action.

However, it expressed disappointment with the response of the labour authorities, particularly the NLC’s decision to direct the parties to report on November 6, four days after the planned commencement of the strike.

JUSAG also criticised the Ministry of Labour, Jobs and Employment for scheduling a meeting with the parties for November 3, a day after the industrial action was expected to begin.

The Association further faulted the Ministry of Finance over a proposal to pay the salary arrears in three instalments without specifying clear timelines.

It said the proposal was issued without consultation with JUSAG, which it described as the principal representative of the affected workers.

JUSAG maintained that the government’s handling of the matter demonstrated a lack of commitment to the welfare of employees of the Judicial Service, whose work keeps the courts operational.

Under the strike directive, all staff of the Judicial Service have been instructed not to report for work from today, Monday, November 2, until the Association’s demands are met.

The Association, however, directed security personnel to remain at their posts to safeguard Judicial Service properties.

Drivers have also been instructed to hand over official vehicles to the Transport Department and refrain from driving official vehicles, judicial officers or judges for the duration of the strike.

Additionally, registrars have been directed not to open, or be compelled to open, any court or registry for official use during the industrial action.

Worrying Diplomatic Criminalities

For the first time in the history of diplomacy in this country, one of the dominant political parties has been compelled to write to a foreign mission about ‘diplomatic and service passports for sale’ and to demand a suspension of courtesies entailed thereof until an audit is undertaken.

In the past few weeks, the story about diplomatic and service passports for sale landed on social media, adding to the visa scandal which swatted our national image earlier.

Followers of social media read the emerging story with glee even as they expected a convincing denial from the appropriate quarters to no avail.

Perhaps the emerging scandals to afflict the Ministry of Foreign Affairs of late, overwhelming as they are, have made it impossible for the appropriate response.

The Minister is busy nursing the wounds inflicted on him by the disturbing scandals.

On the other hand, it could be that there is nothing to deny about a damning reality.

World Cup visa, South African evacuation and diplomatic passports sale scandals are anomalies which do not present our country in good light in whichever direction we look at them.

Is this government under a spell for which reason it is engaging in inappropriate practices which under normal circumstances it should steer clear of?

In the correspondence of the New Patriotic Party (NPP) to the US Embassy, the largest opposition party pointed at the unusual acquisition of the security travel documents and the need for immediate action.

Until a probe is ordered into the anomaly which would never take place anyway, we can conclude foreign suspicious characters have managed to ‘buy’ the passports.

Under the circumstances, inappropriate channels are in operation for the acquisition of the special travel documents, something which cannot be done without the connivance of persons closely associated with the corridors of power.

Such criminal means of obtaining diplomatic passports is another pointer to the bad and criminal conduct of government appointees.

Names have been mentioned, one of whose alleged relationship with the President calls for an immediate interrogation to establish the truth or otherwise.

We can bet though that with a crocodile-skinned President, such a probe, necessary as it is, won’t come on.

Names have been presented for the passports of persons who do not hold the positions assigned to them. In other anomalous instances, persons have been presented as belonging to agencies when the truth is that these persons are unknown to the staff of the agencies.

Non-existent positions have been created and assigned non-staff applicants for the diplomatic passports.

It would not be long before drug barons, some of whom are already operating here, would lay hands on diplomatic and service passports, if they have not done so already.

That this happening at a time when we have a major unresolved cocaine scandal on our hands says a lot about how governance has degenerated in the hands of those at the helm today.

Northern Ashanti Mines Lease Revocation: Asante-Akyem Chiefs Back Government

Some chiefs in the Asante-Akyem enclave of the Ashanti Region have backed the revocation of Northern Ashanti Mines’ mining lease, insisting that mining companies must be held accountable for failing to meet their statutory obligations and demonstrate the capacity to operate their concessions effectively.

The chiefs, including the Mennamhene, Nana Tweneboah Kodua Bempah, and the Konongo Chief, Nana Awuah Abedimsa II aka Dr. Albert Awuah Jnr., have endorsed the Minerals Commission’s decision, citing concerns over the company’s outstanding mineral right fees and its performance in developing the mining concession.

According to Nana Awuah, the development calls for stricter enforcement of mining regulations and the selection of financially capable investors who can maximise the country’s mineral resources while contributing to the development of host communities.

Mennamhene, Nana Tweneboah Kodua Bempah, who spoke on behalf of Juansamanhene, Nana Kwaku Dankwah Opamago Kodie II, said the government was justified in terminating the company’s mineral rights.

He stressed that no mining firm should be shielded from accountability when it failed to fulfil its statutory obligations.

He explained that mining companies were required to meet specific responsibilities, including the payment of taxes, mineral right fees and other statutory revenues due the state.

He said failure to honour these obligations provided sufficient grounds for the appropriate authorities to take action in accordance with the law.

Nana Tweneboah Kodua Bempah stressed that holding a mining concession did not place any company above the law, adding that the government had the authority to terminate a lease where sufficient grounds existed to establish breaches of the relevant regulations and agreements.

He also criticised companies that portrayed themselves as victims after being found to have breached mining laws, describing such conduct as unhelpful to efforts to promote accountability and responsible mining.

Konongo Chief

The chief of Konongo, Nana Awuah Abedimsa II, described Northern Ashanti Mines’ performance as below expectations.

According to him, the company had not demonstrated the necessary financial capacity to undertake effective gold mining operations, raising concerns about its ability to develop the concession to meet the expectations of the state and beneficiary communities.

The chief said the decision by the Minerals Commission was therefore necessary, particularly where a company holding mineral rights was unable to demonstrate the capacity required to develop and operate the concession effectively.

He urged the Minerals Commission to ensure that the process of selecting a new operator followed the appropriate procedures, stressing the need for investors with the financial strength, technical expertise and operational efficiency to manage the concession in the interest of the nation and its beneficiaries.

Nana Abedimsah II maintained that the selection of a new investor should go beyond the mere transfer of mineral rights and focus on securing a company capable of translating the area’s gold resources into meaningful economic benefits.

He further called for transparency and due diligence in the process to ensure that the incoming operator could meet its statutory obligations, sustain mining activities and contribute to development within the concession’s catchment area.

Community Development Priority

The traditional leaders also called on the incoming operator to comply fully with the country’s mining laws and ensure that its activities contribute meaningfully to the development of the area.

Nana Tweneboah Kodua Bempah said the new company must learn from the circumstances surrounding the termination of Northern Ashanti Mines’ lease and prioritise compliance with mining regulations, payment of statutory revenues and responsible management of the concession.

He added that the traditional authorities were prepared to engage the incoming operator to discuss development priorities and identify ways in which mining activities could support communities within the concession’s catchment area.

According to him, although the government was expected to engage the new company on matters relating to its operations, the chiefs would also hold discussions with the operator to establish a working relationship focused on cooperation, community development and sustainable growth.

The chiefs said such engagements would provide an opportunity to address the needs of communities affected by mining activities and encourage the new operator to recognise its responsibilities beyond mineral extraction.

They expressed the expectation that the change in ownership or management would create an opportunity for more effective mining operations, increased economic activity and improved benefits for the people of the area.

Minerals Commission’s Revocation

The chiefs’ reactions follow the revocation of Northern Ashanti Mines’ mining lease by the Minerals Commission over breaches of its statutory and contractual obligations.

In a press release dated October 27, 2026, the Commission said the termination was carried out in accordance with the Minerals and Mining Act, 2006 (Act 703), the Minerals and Mining (Licensing) Regulations, 2012 (L.I. 2176), and the terms of the agreements with the company.

The Commission stated that Northern Ashanti Mines had failed to pay outstanding Annual Mineral Right (AMR) fees amounting to US$8.33 million for its mining leases covering the period from 2010 to 2025. It also owed US$49,928 in fees relating to prospecting licences for the period from 2019 to 2025.

According to the Commission, the company was issued notices on April 14, 2025, requiring it to remedy the breaches and settle the outstanding amounts within a stipulated period.

However, the company failed to comply with the notices.

The Commission further indicated that Northern Ashanti Mines had not undertaken any meaningful mining operations on the concession for more than two years, a situation it said contravened Section 69(1) of Act 703.

Following the company’s failure to remedy the breaches, the Commission said it notified the Minister for Lands and Natural Resources on April 7, 2026, and sought approval to issue a termination notice.

The Minister approved the request on April 24, 2026, paving the way for the Commission to terminate the mineral rights on April 30, 2026.

They maintain that the ultimate objective should be to ensure that Ghana’s mineral resources are managed responsibly and productively in the national interest.

CEO Defence

The Chief Executive Officer of the Minerals Commission, Isaac Tandoh, also defended the revocation of Northern Ashanti Mines’ lease, rejecting allegations that the Commission and the Minister for Lands and Natural Resources acted in bad faith.

Speaking at a press conference at the Commission’s headquarters in Accra on Thursday, October 29, 2026, he insisted that the Minister had exercised his lawful authority before the termination process was completed.

He also disputed the company’s claim that it had paid US$1 million in annual mineral right fees, saying the Commission’s records showed payments of only US$300,000 in two tranches.

Mr. Tandoh questioned why the company, which reportedly claimed to have invested US$200 million in the mine, had failed to settle its outstanding obligations to the state.

He said the company had acknowledged receipt of the termination notice but had chosen to pursue legal action against the Minister, the Minerals Commission and the Attorney-General.

He urged the company to allow the courts to determine the dispute, adding that the mineral rights had reverted to the state following the termination.

He said the Commission would continue to pursue the outstanding debts and take steps to protect the mining assets against encroachment and other illegal activities, in accordance with the law.

Stop Personal Attacks Over Nawara Licence Cancellation – CMS-PRO Tells Kpebu

Management of CMS-PRO and A and A Southern Industries Ltd. has cautioned legal practitioner Martin Kpebu to exercise professionalism, restraint and objectivity in his public commentary on the revocation of Nawara Company Limited’s mining concession.

The companies urged Mr. Kpebu to establish facts and obtain credible information before making public statements on television and social media, rather than engaging in speculation or allegations that could mislead the public.

Management expressed concern over what it describes as repeated personal attacks by Mr. Kpebu against Mr. Alfred Mahama, brother of President John Dramani Mahama, in connection with the Nawara concession controversy.

According to the companies, the revocation is a regulatory matter that should be examined based on facts, relevant documents and applicable mining laws, not personal interests, political sentiments or attempts to seek public sympathy.

They said the circumstances surrounding the revocation can be independently verified through the Minerals Commission, which holds relevant records and documentation.

Management categorically stated that Mr. Mahama had no involvement in the revocation and is not a shareholder in either of the two Ghanaian companies that subsequently acquired the concession following Nawara’s alleged failure to meet regulatory obligations.

The companies insist their acquisition followed applicable regulatory processes and should not be linked to personal interests or alleged involvement of any individual.

The companies have challenged Mr. Kpebu to rely on verifiable facts and documentary evidence in his public engagements, given his professional background and availability of established regulatory channels.

They advised him to desist from statements they consider unfounded or personally damaging to Mr. Alfred Mahama and to allow facts surrounding the concession to speak for themselves.

Management warned it reserves the right to pursue legal action should what it considers defamatory and unsubstantiated allegations against Mr. Alfred Mahama and the companies persist.

It reiterated that the Nawara mining concession matter is fundamentally regulatory and should be addressed through facts, documentary evidence and respect for rule of law, rather than personal attacks, speculation or attempts to influence public opinion.