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Cedi records mixed performance but signals rebound; one dollar equals GH¢12.00 at forex bureaus

By
Adwoa Afranewaa
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The Ghana cedi currency showed a mixed performance over the two-week review period, depreciating slightly in the interbank market while strengthening in retail market.

The US dollar/Ghana cedi closed at a midrate of GH¢10.88 in the interbank market, up from GH¢10.70.

However, the pound and euro eased by 2.70% and 2.57% to close at GH¢14.78 and GH¢12.80, respectively against the cedi.

In contrast, the retail rates saw the dollar firm modestly against the cedi to GH¢11.90 from GH¢12.15, while the pound and euro strengthened by 1.58% and 2.18%, closing at midrates of GH¢15.80 and GH¢13.75, respectively.

“As expected, renewed demand exceeding FX [forex] supply caused modest cedi losses in the interbank market, while relatively subdued retail demand likely prompted slight price adjustments to attract buyers. Looking ahead, we forecast a stronger cedi over the next two weeks, underpinned by anticipated FX injections to temper bearish expectations”, said Databank Research.

“On the external front, global rerouted flows and interest appear to favour persistent dollar weakness as sovereigns cautiously trim US Treasury holdings despite yield appeal. Coupled with expectations of a dovish Fed under Trump, our timing on these flows positions us ahead of the curve, eyeing a GH¢10.70/US dollar base case”, it added.

Meanwhile, the cedi started trading this week at GH¢12.00 to one American greenback.

Its year-to-date appreciation stands at 1.88% to the dollar.

Source: myjoyonline

Bawumia is ahead of his time- Manhyia North MP

By
Adwoa Afranewaa
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Honourable Akwasi Konadu, the member of parliament for Manhyia North, has reiterated his support for Dr Mahamudu Bawumia. According to him, Dr Mahamudu Bawumia gives the NPP a better chance of winning the elections in 2028.

Speaking to Alfa Ali this morning on the Orange Sunrise , honourable Akwasi Konadu said Dr. Mahamudu Bawumia was a victim of circumstances in 2024 and that his candidacy alone did not amount to the defeat of the NPP

” There were multiple factors that made us lose the elections, if we cannot collectively assume the responsibility of us losing the elections, and we want to fingerpoint to people, what shows that the next person we are presenting to the people of Ghana will be elected by the people if we are not convinced and united behind that person?” he quizzed.

He stated that Dr Bawumia is “ahead of his time” and “knows the dynamics of the global economy”, making him the best presidential candidate for Ghana.

Speaking on the economy, Mr Akwasi Konadu said that although the cedi had appreciated, the real state of the economy was reflected by the living conditions of the ordinary Ghanaian.

“Yes, the dollar may be low, the fuel may be low, but have you seen the extent of persons finding it difficult to get home? How many individuals are directly benefiting from the low exchange rate that we have now? It is solely about the individual”, he stressed.

He emphasised that he remained firm and resolute in his support for Dr. Bawumia Bawumia as the NPP presidential primaries fast approach.

By: Janice Opoku-Agyemang

The church has not done enough in holding politicians accountable- CCC Pastor

By
Adwoa Afranewaa
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Pastor Joshua Obeng
Pastor Joshua Obeng

The resident pastor of Calvary Charismatic Centre (CCC), Pastor Joshua Obeng, has said that the church has not done well in holding politicians accountable.

In an interview ahead of Calvary Charismatic Centre’s Start Well Conference, Pastor Joshua Obeng said the church had unfortunately not done a good job in holding politicians and heads of institutions accountable.

“Unfortunately, the church has not done well when it comes to these issues; we have not held our politicians and leaders accountable. It is not just a political problem; it is a problem with some of our members who head institutions and major sectors in Ghana,” he said.

Pastor Joshua Obeng added that the Start Well conference will set people’s minds right on how to lead, as well as the Christian way of conducting yourself as a leader.

Calvary Charismatic Centre will host the Start Well Conference from Thursday, January 22, to Saturday, January 24, 2026. The conference will start at 6:00 pm on Thursday and Friday, and at 8:00 am on Saturday. Pastor Mensah Otabil will be the key speaker. Minister Joe Mettle will also be ministering at the conference.

Pastor Joshua Obeng said he believed that Kumasi played a crucial role in the development of Ghana. In light of this, the Calvary Charismatic Centre organised a conference each year with Pastor Mensah Otabil to propel leaders into the year. He extended his invitation to all and sundry to be a part of the conference

Pastor Joshua Obeng also advised the NPP to conduct themselves in a way that pleases the Lord ahead of their presidential primaries.

Arise Ghana demands extradition of Ofori-Atta

By
Adwoa Afranewaa
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Pressure group Arise Ghana is demanding that former Finance Minister Ken Ofori-Atta be returned to Ghana to face investigation over alleged financial mismanagement.

Arise Ghana staged a protest at the United States Embassy in Accra. Dressed in red and black attire, the group converged at embassy premises this morning, Tuesday, January 20, 2026, with placards bearing inscriptions such as “Bring Ken Home” and “No Hiding Place for Corruption.”

This demonstration comes as the Office of the Special Prosecutor investigates several transactions approved during the former finance minister’s tenure while he remains outside the country.

Ken Ofori-Atta served as Ghana’s Finance Minister from 2017 to 2024 under the New Patriotic Party (NPP) administration. He has been at the centre of multiple public controversies over alleged financial mismanagement and procurement-related concerns.

The Office of the Special Prosecutor announced investigations into several transactions approved during his tenure, including revenue assurance contracts, public debt restructuring processes, and payments made under sole-sourcing arrangements.

His lawyers have previously stated that he remains willing to cooperate with any lawful investigative process, citing health and security concerns for his temporary stay outside the country.

By: Janice Opoku-Agyemang

Legendary Gospel musicsian Yaw Sarpong passes away

By
Adwoa Afranewaa
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Yaw Sarpong, Ghanaian gospel musician and founder of the Asomafo gospel group, has died.

His manager, Nana Poku Ashis, confirmed the news of his passing to the media. Although details surrounding his death are not yet known, the musician was battling some health issues and occasionally stepped back from public performances.

Yaw Sarpong was very influential in the Ghanaian music industry. He rose to national prominence as the leader of Yaw Sarpong and Asomafo, a group that shaped the sound and structure of modern Akan gospel music. 

The group is widely known for its strong lyrical content and unique musical style that centres on Christian principles and values. The group produced several hits such as Wo Haw Ne Sen, Tie Obiaa, Aduro Yesu, and Awurade Kasa, many of which remain staples in churches across Ghana. 

In 2025, Yaw Sarpong was honoured with the Lifetime Achievement award at the Telecel Ghana Music Awards. 

His death comes barely a month after the passing of Maame Tiwa, a key pillar of Yaw Sarpong’s Asomafo music group, a loss that deeply affected the gospel music fraternity.

By: Janice Opoku-Agyemang

Ofori-Atta to face U.S. court today over immigration status

By
Adwoa Afranewaa
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Former Finance Minister Ken Ofori-Atta

Former Finance Minister Ken Ofori-Atta will appear before a United States court today, Tuesday, January 20, following actions taken by U.S. immigration authorities concerning his legal status in the country.

The U.S. Immigration and Customs Enforcement (ICE) allegedly determined that Mr Ofori-Atta had overstayed his legal permit in the United States and no longer has lawful status to remain in the Country.

Although Ghana’s Attorney-General and Minister for Justice, Dr Dominic Ayine, has dismissed suggestions that the matter is a routine case of visa overstay, while maintaining that Mr Ofori-Atta’s visitor visa was actively revoked by U.S. authorities rather than expiring naturally, this development could open the way for extradition proceedings to Ghana after the court hearing.

Background

On Saturday, January 10, Dr Ayine, Ghana’s Attorney-General and Minister for Justice, explained that although Mr Ofori-Atta had initially been permitted to remain in the United States until November 29, he failed to depart within the stipulated period.

He also revealed that the revocation of the visa was intentional and tied to ongoing investigations, not standard immigration enforcement.

“This is not simply an immigration issue. His visa did not expire; it was revoked. I state this on authority,” Dr Ayine said, adding that the visa was due to run until February before it was withdrawn.

The Attorney-General emphasised that Ghana’s request for Mr Ofori-Atta’s extradition is in connection with investigations by the Office of the Special Prosecutor concerning the SML case, noting that Ghanaian and U.S. authorities have been working closely on the matter.

By: Janice Opoku-Agyemang

KMA warns traders to vacate Santasi–Asokwa stretch by Jan 20

By
Adwoa Afranewaa
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The Kumasi Metropolitan Assembly(KMA) has issued a stern warning to individual traders and owners of structures and billboards along the Santasi Roundabout to Asokwa Interchange corridor to voluntarily vacate before January 20, 2026 to allow ongoing road construction works to continue smoothly.

In a statement issued on Monday, January 12, 2026, the Assembly emphatically called on car dealers, mechanics, taxi operators, traders, squatters, owners of temporary structures and billboards who are still operating along the stretch to evacuate and avoid obstruction of construction works.

The statement also revealed that an earlier directive, issued on September 24, 2025, required all affected occupants to leave the area by November 1, 2025, and added that, despite several reminders, some individuals had refused to comply.

The assembly pointed out that construction of the dual-carriage road linking Santasi to the Asokwa Interchange has already begun, and full cooperation from the public is needed to ensure the project is completed on schedule.

According to the statement, engineers from the Ghana Water Company Limited and the Electricity Company of Ghana are currently relocating utility installations along the corridor to make way for the project.

The Kumasi Metropolitan Assembly urged owners of affected garages to contact the National Disaster Management Organisation, the Physical Planning Department and the Department of Urban Roads for support and possible reallocation.

The Assembly called on the public to comply with the evacuation directive to facilitate the timely completion of the road project.

By: Janice Opoku-Agyemang

Plot to kill Burkina Faso leader foiled, says junta

By
Adwoa Afranewaa
-

A plot to kill Burkina Faso’s military leader, Capt Ibrahim Traoré, has been thwarted, the West African nation has announced.

The sophisticated plan had been hatched by Lt Col Paul Henri Damiba, the military officer ousted by Traoré in September 2022, the security minister said in a late-night broadcast.

“Our intelligence services intercepted this operation in the final hours. They had planned to assassinate the head of state and then strike other key institutions, including civilian personalities,” said Mahamadou Sana, further alleging that the plot had been funded by neighbouring Ivory Coast.

There has been no comment from either Col Damiba or Ivory Coast.

Since seizing power, Capt Traoré has faced at least two coup attempts and is also grappling with growing jihadist violence that has forced millions from their homes.

Despite these challenges and his authoritarian reputation, the 37-year-old military leader maintains strong popular support and has gained a following across the continent for his pan-Africanist vision and criticism of Western influence.

Authorities uncovered a leaked video showing the plotters discussing their plans, according to the security minister.

In the footage, they allegedly spoke about how they intended to assassinate the president – either at close range or by planting explosives at his residence – just after 23:00 local time on Saturday 3 January.

Afterwards, they allegedly planned to target other senior military and civilian figures.

Sana alleged that Damiba had mobilised both soldiers and civilian supporters, secured foreign funding – most significantly 70m CFA francs ($125,000; £92,000) delivered from Ivory Coast – and planned to knock out the country’s drone-launch base before foreign forces could intervene.

“We are carrying out ongoing investigations and have made several arrests. These individuals will be brought to justice soon,” the minister said on national television.

Sana insisted the situation was under control and urged citizens “not to be misled, out of naivety, into dangerous schemes”.

It is unclear how many people have been arrested.

Critics, both local and foreign, have accused Capt Traoré of authoritarianism and say his government suppresses dissent – including arbitrary arrests of military officers and restrictions on the media.

It is not the first time the junta has pointed the finger of blame about foreign interference in its affairs at Ivory Coast.

These continuing internal power struggles will further heighten regional tensions.

Col Damiba served as Burkina Faso’s leader from January-September 2022 after seizing power from an elected government.

After being ousted, he went into exile in neighbouring Togo and said in a message published on social media that he wished his successor every success

Source: BBC

Bank of Ghana Injects $10 Billion to Stabilise the Economy

By
Adwoa Afranewaa
-

The Bank of Ghana (BoG) has revealed that they have injected $10 billion into the economy since 2025 to stabilise the exchange rate and bolster the nation’s foreign reserves.

Speaking at a Public Accounts Committee sitting on Monday, January 12, 2026, Nii Sowah Ahorlu, Head of Financial Marketing at the BoG, and the Governor, Dr Johnson Asiama, explained some of the interventions by the Bank as part of efforts to stabilise the economy.

“Relative to last year, we have had significant intermediation processes, and that is what we have observed in terms of the stability and appreciation we have incurred. In terms of our support for the market this year, overall it has been close to $10 billion,” he stated.

The Central Bank also revealed that the financial intervention primarily involved payments to Independent Power Producers (IPPs) and bondholders.

This comes amid growing scrutiny of the Bank of Ghana’s interventions in the foreign exchange market, as stakeholders seek assurances that the measures are yielding the desired economic stability.

By: Janice Opoku-Agyemang

BoG explains suspension of Gold-for-Oil programme

By
Adwoa Afranewaa
-

Dr. Johnson Asiama, the Governor of the Bank of Ghana (BoG) has said that operational challenges and the need to improve policy efficiency necessitated the suspension of Ghana’s Gold-for-Oil programme.

Speaking before Parliament’s Public Accounts Committee today, Monday, December 12, 2026, Dr Asiama said the suspension has already produced positive outcomes.

“The first reference is to observe that since we cancelled the Gold-for-Oil in March 2025, we have not seen a build-up of queues at the pumps. One of the objectives of the policy was for that. So we believe that the cancellation was worth it,” he said.

He explained that the suspension was not intended to terminate the initiative entirely, but to improve its efficiency and effectiveness and added that the Gold for Reserves was meant to increase the country’s reserves which had already showed positive signs.

“There were too many issues under the Gold-for-Oil that we needed to unearth. Therefore, the board authorised an external audit into the policy. We got a PPA approval for the audit two months ago. That exercise is underway,” Dr. Asiama explained.

“The objective of Gold-for-Reserves, as the name suggests, is for us to increase reserves. Based on the data available so far, the evidence is clear that it is not a case of shutting it down, but a question of enhancing its efficiency, looking at inefficiencies that we have to take out. That is why we went after GoldBod,” he added.

In March 2025, the Bank of Ghana announced the suspension of the Gold-for-Oil program, marking a significant shift in the country’s economic strategy. The programme, introduced by the previous government, was intended to reduce reliance on foreign exchange for fuel imports and help stabilise domestic fuel prices.

By: Janice Opoku-Agyemang

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