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Seth Terkper, economic advisor to President John Mahama, has defended the Bank of Ghana (BoG) following a reported operating loss of GHc15.6 billion ($1.42 billion USD) for the 2025 financial year. This represents a significant increase from the GHc9.4 billion ($854 million USD) loss in 2024. Terkper emphasized that the losses are largely non-cash elements resulting from the Domestic Debt Exchange Programme (DDEP), which caused the bank to forego over GHc12 billion ($1.09 billion USD) in interest income. He reaffirmed the administration's commitment to the Bank of Ghana Amendment Act 1158 and a recapitalization plan to restore the bank's equity position, which currently stands at a negative GHc93.82 billion ($8.5 billion USD).
The central bank's financial health is critical for currency stability. A strategic recovery by 2032 signals to international markets that Ghana is prioritizing fiscal discipline over short-term political gains under the new Mahama administration.
Ghana entered an IMF-led debt restructuring program in 2023. The DDEP mentioned here was a core requirement to bring debt to sustainable levels, but it forced local financial institutions, including the BoG, to take significant 'haircuts' on their holdings.
The Ministry of Health has launched an ambitious initiative to reduce maternal mortality by 30% within the next two years. Targeting 11 high-burden referral hospitals, the plan follows a report of 965 maternal deaths in 2025. To support this, the Ghana Medical Trust Fund has disbursed GHc36,234,475 (~$3.29 million USD) to specialized colleges for the training of 2,200 health professionals in fields like oncology and cardiology.
Monitor whether the decentralization of specialist training reduces the 'no-bed syndrome' and improves emergency response times in regional capitals outside of Accra and Kumasi.
In a major policy overhaul, the Ghana Cocoa Board (COCOBOD) plans to raise $1 billion USD through domestic, cedi-denominated bonds to finance the 2026/27 crop season. This move ends a decades-long reliance on offshore syndicated loans. CEO Dr. Ransford Abbey noted the board will maintain farmer payments at 70% of the Free-On-Board (FOB) price while pushing for local processing capacity, as Africa currently captures less than 10% of the $130 billion global chocolate market.
This shift indicates a maturing domestic debt market. However, the Producer Buying Company (PBC) still carries a debt of GHc673 million (~$61.2 million USD), suggesting liquidity challenges remain for state-linked buyers.
Stable funding for cocoa farmers often correlates with rural economic stability. If you have family in cocoa-growing regions, this shift may provide more predictable payment cycles for their produce.
Traditional investment landscapes are shifting as 91-day Treasury bill yields have dropped sharply from 25.8% to approximately 10.6%. This decline has pushed investors toward the Ghana Stock Exchange (GSE), though the local bourse recently shed GHc12.5 billion (~$1.13 billion USD) in market capitalization in a single week, led by declines in MTN Ghana and Ecobank. Meanwhile, Fidelity Bank has issued a warning against 'Fidelity Capital Investment Group,' an unlicensed entity flagged as a potential Ponzi scheme.
The 'search for yield' is driving capital away from safe government debt into riskier equities and alternative assets like cryptocurrency.
Authenticate all financial institutions with the SEC. The rise in SOE profitability, such as the Ghana Publishing Company's jump to GHc16.9 million (~$1.54 million USD) profit, shows that pockets of efficiency exist despite broad market volatility.
The Inspector-General of Police (IGP) Special Operations Team conducted a major raid at the Madina market, arresting 50 suspects and seizing 230 boxes of illicit Tramadol valued at GHc200,000 ($18,181 USD). Concurrently, police in the Central East Region dismantled a child trafficking syndicate in Kasoa, arresting six women involved in the alleged sale of a ten-month-old infant for GHc35,000 ($3,182 USD).
Kasoa and Madina are frequently cited in security reports as hubs for informal trade and cross-border movement, making them focal points for recent high-visibility policing efforts.
Ahead of the 2026 FIFA World Cup, new coach Carlos Queiroz is finalizing his squad. Gremio winger Francis Amuzu, who switched allegiance from Belgium, has received a call-up for the upcoming Mexico friendly. The GFA has also secured a $5 million USD sponsorship from Gold Fields Ghana. However, defender Mohammed Salisu remains a doubt due to an ACL injury.
Black Stars context: Ghana faces a 'Group of Death' (Group L) featuring England, Croatia, and Panama. This corporate injection is intended to prevent the bonus disputes that have plagued previous tournaments.
Ghana Athletics has named stars Benjamin Azamati and Abdul Rasheed Saminu to the squad for the African Seniors Athletics Championships (May 12-17). In boxing, Ghana edged Nigeria 4-3 in a Commonwealth Games build-up at the Accra Sports Stadium.
Charterhouse has moved the TGMAs to the Grand Arena at the Accra International Conference Centre for the May 9 ceremony. Medikal has received strong endorsements for Artiste of the Year, though he faces stiff competition from Black Sherif and Stonebwoy. In global news, Burna Boy has teamed up with Shakira for 'Dai Dai,' the official 2026 World Cup anthem.
The TGMA is the benchmark for commercial success in Ghana's music industry. The shift to a larger venue reflects the growing export value of the 'Ghanaian sound.'
Today we covered the Bank of Ghana's recovery roadmap, COCOBOD's pivot to domestic cedi bonds, and the final countdown to the TGMA. Thank you for reading the Ghana News AI Daily Brief! Have feedback or suggestions? We'd love to hear from you at info@ghananews.ai
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