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BoG Drops $1bn Bomb to Stabilize Cedi in November

The Bank of Ghana is preparing to inject up to $1 billion into the foreign exchange market this November under its FX Market Intermediation Programme.

According to a notice sent to licensed commercial banks, the Central Bank will auction about $300 million twice a week on a spot basis. The total volume for subsequent months will depend on market conditions.

The BoG emphasized its commitment to transparency and fairness in forex operations, assuring that all details on intermediation and interventions will remain publicly available.

In October, the Bank injected $1.15 billion into the market through similar interventions. The move, carried out in what officials described as a “market-neutral manner,” was linked to the cedi’s strong performance during the month.

Market analysts say the intervention contributed to the 13.9% appreciation of the cedi against the dollar in October and a 34.86% gain year-to-date.

Average daily interbank trading reached $22 million, bringing total monthly volume to $484 million. Commercial banks have credited the cedi’s rally to improved dollar supply and tighter forex regulation enforcement.

“Our objective is to deepen the interbank FX market, enhance price discovery, and smooth volatility,” BoG Governor Dr. Johnson Asiama stated.

“Auction volumes may adjust as conditions evolve, but transparency remains our guiding principle,” he added.

The new auction system, part of broader forex reforms, replaces weekly sales with twice-weekly spot auctions. The change aims to improve liquidity and ensure equal access for all licensed banks under the BoG’s ongoing efforts to strengthen the Domestic Gold Purchase Programme and stabilize the cedi.

Ghana Launches Major Mining Audit

mining

Ghana, Africa’s top gold producer, has launched its most comprehensive mining audit in a decade to recover lost revenue and strengthen oversight of the sector, according to a government letter seen by Reuters.

The nationwide audit, which begins on November 1, 2025, will target leading mining firms including Newmont, AngloGold Ashanti, Gold Fields, Perseus, Asante Gold, and China’s Zijin. It will be conducted by government auditors, forensic accountants, and independent consultants under the supervision of the Minerals Commission.

The exercise will examine production volumes, mineral flows, tax and royalty payments, and environmental compliance. Mining companies have been directed to submit 10 years of production logs, three years of financial records, and all relevant permits and shipping documents by October 31.

The audit comes amid rising global gold prices, which hit a record $4,380 per troy ounce in October. Ghana expects gold output to climb to 5.1 million ounces this year, up from 4.8 million, helping stabilize the economy after its worst financial crisis in decades.

Officials say the first phase will begin with Gold Fields’ Damang mine in November, followed by Perseus and Xtra-Gold by mid-2026. Individual company reports are to be completed within 30 days of each site visit.

Economist Said Boakye from the Institute for Fiscal Studies said the move is vital for accountability. “Audits like this should not happen every decade but every year. That is how to build a strong tax policy and unlock the sector’s true revenue potential,” he stated.

The government is also reforming mining laws to shorten licence terms and ensure direct revenue sharing with host communities.

Elvis Darko Calls for Comprehensive Review of Revenue Assurance Contracts

The Editor of Newscenta Newspaper, Elvis Darko, has urged the government to expand investigations into all revenue assurance contracts signed by successive administrations. His call follows the recent termination of agreements between the Government of Ghana and Strategic Mobilisation Ghana Limited (SML).

Mr. Darko said several governments had hired revenue assurance companies to address leakages in state revenue collection. He argued that if the Office of the Special Prosecutor (OSP) found SML’s operations unnecessary or problematic, then similar contracts in sectors such as energy and telecommunications should also be reviewed.

“If we want to do this SML thing, and we think we want to save the state some money, then it is not only SML we have to go after. Every revenue assurance contract must be looked at,” he said.

Mr. Darko noted that while such companies can help improve state revenue collection, their engagement terms must be fair and transparent. He emphasized that payments should not be based on gross revenue already collected by state agencies before the companies’ involvement. Instead, he suggested that compensation should depend on the additional revenue generated through their work.

“If a company is collecting an amount before the revenue assurance company is engaged, you cannot pay the new company from that same revenue,” he explained. “It should be based on the extra money the assurance company helps the agency to collect. That way, we will have a better revenue assurance system.”

Mr. Darko’s remarks follow President John Dramani Mahama’s directive on October 31, 2025, to terminate all contracts between the government and SML after the OSP concluded its investigation into the company’s dealings with the Ghana Revenue Authority (GRA).

Gyau on Fire as Kotoko Crush Karela in Six-Goal Showdown!

Asante Kotoko bounced back from their CAF Confederation Cup exit with a thrilling 4–2 victory over Karela United in week eight of the Ghana Premier League.

The Porcupine Warriors entered the game determined to recover after their 6–1 aggregate loss to Wydad Athletic Club. They showed that intent early at the Baba Yara Sports Stadium.

Midfielder Hubert Gyau opened the scoring in the 6th minute with a precise finish inside the box after connecting with Sauda Saaka’s pass. His second goal came 14 minutes later a stunning right-footed strike from outside the penalty area that flew into the top-left corner.

Karela had equalized briefly in the 16th minute through Bless Ege, who converted a penalty after Kotoko goalkeeper Mohammed Camara fouled Eric Antwi Konadu.

Kotoko regained control soon after. Peter Amidu Acquah delivered a pinpoint cross that found Seth Kwadwo, who headed home to restore Kotoko’s lead.

Peter then turned scorer, calmly slotting in a loose ball 16 minutes after the restart as Karela’s goalkeeper Daniel Afadzwu was caught out of position.

Karela’s Yaya Rahman reduced the deficit late in the game, but the visitors could not mount a comeback.

“The team showed strong character after our continental disappointment,” Kotoko coach Dr. Prosper Narteh Ogum said after the match. “This win gives us confidence for the next fixtures.”

The victory lifts Kotoko to eighth place on the league table with 11 points and three outstanding matches. Karela remain just above them with 12 points.

Ato Forson Reaffirms Commitment to Strong Cedi

cedi
Dr. Cassiel Ato Forson, Finance Minister

Finance Minister Dr. Cassiel Ato Forson has reiterated the Mahama administration’s commitment to maintaining fiscal discipline and a stable Cedi as Ghana marks the 60th anniversary of its national currency.

In a statement, Dr. Forson said prudent fiscal management has contributed to the cedi’s recent appreciation and pledged to safeguard its gains.

“Our strong commitment to fiscal discipline has strengthened the currency,” he said.

“We must all protect the cedi by avoiding the pricing of goods and services in foreign currencies. The US dollar is not our currency. Let us trade and speak proudly about the cedi as a badge of economic independence.”

The Minister urged citizens to help preserve the cedi’s value and support government efforts to stabilize the economy.

However, Ofoase Ayirebi MP Kojo Oppong Nkrumah has questioned the sustainability of the cedi’s appreciation against major currencies, arguing that it is driven largely by heavy market intervention by the Bank of Ghana (BoG).

Speaking in Parliament, he said the central bank injected about $1.3 billion into the market in October alone to support the local currency.

“As we celebrate 60 years of the cedi, the key question is what is its real value and what can it buy?” he asked.

“If the central bank stopped intervening, would we still see this 37.4% appreciation? I doubt it.”

Oppong Nkrumah attributed the recent forex inflows to the BoG’s Gold Purchase Programme, which increased Ghana’s gold reserves from 8 to 30 tonnes.

He emphasized that while the programme has helped stabilize the market, long-term sustainability depends on strengthening the fundamentals of the economy.

NAIMOS Raid Exposes Foreign Involvement in Ahafo Galamsey Operations

The National Anti-Illegal Mining Operations Secretariat (NAIMOS) has carried out another major anti-galamsey operation in the Ahafo Region.

The raid, conducted at Bronikrom Hwediem, led to the arrest of several illegal miners.

Among those apprehended was a Burkinabe national, officials confirmed.

According to preliminary details, the illegal site was located near the Hwediem Goaso Highway.

Witnesses say the miners operated dangerously close to a main road, less than ten meters away.

Minister for Government Communications, Felix Kwakye Ofosu, disclosed details of the operation on his official X handle.

“NAIMOS continues to strike at the heart of illegal mining,” he wrote.

He commended the task force for its swift response and ongoing vigilance in combating galamsey.

The minister described the raid as another significant success in the government’s renewed war on illegal mining.

“This operation shows our firm resolve to protect Ghana’s environment and water bodies,” he added.

Local sources confirmed that several excavators and mining tools were seized during the exercise.

The suspects are currently in custody, assisting with investigations.

The government’s anti-galamsey task force has intensified nationwide operations in recent weeks.

Officials say the fight against illegal mining remains a top national priority.

Residents of Ahafo have praised NAIMOS for the timely intervention, which they say saved farmlands.

Environmental experts continue to warn that illegal mining poses severe threats to water and soil health.

NAIMOS has assured the public that such operations will continue across all illegal mining hotspots.

FDA Urges Ban on Lead-Contaminated Local Cooking Pots

FDA

The Eastern Regional Manager of the Food and Drugs Authority (FDA), Anita Owusu-Kuffour, has called for an immediate ban on locally made cooking pots, popularly known as Dadesen. She said FDA investigations had found dangerous levels of lead in the pots, warning that the contamination poses a serious health threat to consumers.

Speaking at a stakeholder engagement on heavy metal contamination in cereal-legume mixes in Somanya, Madam Owusu-Kuffour explained that lead, a toxic metal, is often added during the manufacturing process to soften the metal and make moulding easier.

“When they are making the pots, the metal becomes hard, so they add lead to soften it. The sad part is that most local manufacturers have no idea about the health implications,” she said. “We are, therefore, advising the public to stop using Dadesen that contain lead.”

She cautioned that continuous use of lead-contaminated cookware could cause severe health problems, including cancer, kidney failure, and Parkinson’s disease. She urged local artisans to stop using lead completely and adopt safer materials, such as stainless steel, for cookware production.

Madam Owusu-Kuffour also warned against using nonstick cookware with worn-out coatings. She said once the coating begins to peel, it can release toxic chemicals and heavy metals into food.

“If the coating wears off, you expose yourself to serious health risks, including cancer,” she said.

She added that some kitchen utensils made with poor-quality materials can release harmful chemicals into food when scratched or corroded, which can enter the bloodstream and cause chronic illnesses.

“A good-quality stainless steel product ensures both safety and durability,” she advised.

The FDA Regional Manager stressed that food safety requires collaboration among producers, regulators, and consumers. “As science and technology improve, we must all move away from harmful practices to protect public health,” she said.

Dr. Kwame Owusu Mensah Urges Early Screening and Support for Breast Cancer Fighters

breast cancer
Photo by Ave Calvar

This week on The Urban Mix with Adwoa Afranewaa Frimpong, the conversation turned heartfelt as Dr. Kwame Owusu Mensah joined the show to discuss breast cancer awareness, support systems, and the importance of early screening.

Dr. Mensah emphasized that fighting breast cancer goes beyond medical treatment, it also requires emotional and financial support.

“If you know someone fighting breast cancer, this is the time to show up for them,” he said.

“Go with them to their clinic and surgical appointments, support them financially if you can, and most importantly, be there emotionally.”

He noted that family involvement plays a major role in recovery, sharing that patients who come with loved ones often respond better to treatment.

“When a husband or close relative joins the process, they understand the treatment stages and can offer real support,” he explained.

The discussion also highlighted the need to eliminate stigma in workplaces and communities. Dr. Mensah urged listeners not to isolate people battling cancer.

“It’s not contagious,” he reminded. “Have conversations, share jokes, and create an environment where they feel seen and supported.”

He also announced the relaunch of a Breast Cancer Survivors Group aimed at helping patients share experiences and motivate one another.

“Once you see someone who has survived, it encourages you to keep fighting,” he said.

Dr. Mensah encouraged early screening as the most effective way to save lives.

“Breast cancer is not a death sentence,” he stressed. “Early diagnosis and treatment save lives. What you don’t know can harm you.”

The show wrapped up with a lighthearted question about what Dr. Mensah finds most puzzling about women. Laughing, he said, “I’ll never understand what tickles them to cry, but we love them all the same.”

Mfantsipim School Dominates Quarter-Finals of NSMQ 2025

Defending champions Mfantsipim School (BOTWE) have once again showcased their dominance in the 2025 National Science and Maths Quiz.

The BOTWE Boys edged out rivals Prempeh College and Adisadel College (ADISCO) in a thrilling quarterfinal at UCC’s SGS Auditorium.

Fans described the contest as a “battle of giants,” full of cheers, tension, and excitement throughout.

From the first round, Mfantsipim took an early lead with 25 points, Prempeh had 20, ADISCO 15.

By Round Two, BOTWE widened their lead to 41 points, leaving Prempeh at 22 and ADISCO at 15.

Round Three, the Problem of the Day, saw ADISCO excel with 6 points, Mfantsipim scored 4.

Despite ADISCO’s strong performance, Mfantsipim remained comfortably ahead, maintaining control of the competition.

In Round Four, BOTWE increased their lead to 61 points; Prempeh reached 40, ADISCO 31.

The final riddle-filled round tested speed and accuracy, but Mfantsipim remained untouchable.

When the final bell rang, Mfantsipim finished with 64 points; Prempeh and ADISCO tied at 40.

The victory secures Mfantsipim’s place in the semi-finals of NSMQ 2025, keeping championship hopes alive.

This emphatic win reinforces Mfantsipim’s reputation as one of the fiercest quiz contenders in Ghana.

Ridge Hospital Staff Praise New GHIMS Platform for Its Efficiency

Member of Parliament for Lambussie, Professor Titus Beyuo, has praised Ghana’s new digital health platform.

The Ghana Healthcare Information Management System (GHIMS) has been warmly received by staff at Ridge Hospital.

The platform replaces the Lightwave Health Information Management System, which suffered repeated failures and disruptions.

According to Health Minister Kwabena Mintah Akandoh, a four-week nationwide migration is already underway.

The process starts with teaching and regional hospitals before expanding to clinics and CHPS compounds.

GHIMS aims to ensure reliable health records, reduce patient delays, and eliminate manual record-keeping challenges.

Speaking earlier, Prof. Beyuo said Ridge staff are excited about the new system.

“Our colleagues at Ridge Hospital are jubilating because the software is more user-friendly,” he said.

“It allows customisation to suit each hospital’s needs. I suggested Korle Bu as next.”

He added that the platform’s flexibility and reliability mark a strong step in digital healthcare.

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