Back to Latest Briefings
May 11, 2026
AI-Enhanced
BoG explanations on losses lack credibility and clarity – Bawumia’s spokesperson
Money
Policy
Growth
Key Points
- A spokesperson for Dr Mahamudu Bawumia (NPP 2028 flagbearer) accused the Bank of Ghana (BoG) of lacking transparency regarding its financial reporting and recent losses.
- Dr Ekua Amoakoh questioned the handling of BoG financial statements, citing inconsistencies and the temporary removal of a report from their website.
- She criticized explanations linking BoG losses to inflation control and suggested a connection to recent changes in the bank's gold purchase programme.
- Amoakoh also highlighted broader unresolved economic challenges in Ghana, including unfinished Agenda 111 projects, delayed payments to public sector workers, and issues in the cocoa sector.
- The NDC defended the BoG, with Julius Kattah stating that the reported losses are a necessary cost of stabilizing the economy, managing inflation, and debt restructuring.
Why This Matters
This article highlights a significant political and economic debate in Ghana concerning the transparency and management of the Bank of Ghana's finances. Allegations of mismanagement and lack of clarity, if not adequately addressed, could erode public trust in key economic institutions and impact investor confidence. The discussion also sheds light on broader economic challenges and the government's efforts to stabilize the economy, which are critical for Ghana's future stability and development.
Read Full Article
View original sourceRelated Articles
July 8, 2026
Abu Trica rushed to Police Hospital as lawyer raises concerns over access to client
- Frederick Kumi (Abu Trica) has been rushed to the Police Hospital, according to his lawyer, Oliver Barker-Vormawor.
- His legal team has been denied access to him for over a week, and they are unaware of his current detention location, with Interpol denying custody.
- Barker-Vormawor plans to file a habeas corpus application if authorities continue to deny Abu Trica his right to legal representation.
- The lawyer criticized the treatment of Ghanaian citizens in cases involving foreign law enforcement agencies, likening it to treating them as 'animals'.
- Abu Trica faces extradition to the United States over an alleged $8 million romance scam and wire fraud scheme.
July 8, 2026
GRA gives Electrochem seven days to settle GH¢6.8m tax debt or face sanctions
- The Ghana Revenue Authority (GRA) has issued a seven-day ultimatum to Electrochem Ghana Limited to settle an outstanding tax liability of GH¢6.8 million.
- As an enforcement measure, GRA officers sealed off the company's administration block at Ada on July 8.
- The tax arrears date back to 2021, initially totaling GH¢8.8 million with interest, though a GH¢200,000 payment was made by the company.
- The GRA chose not to fully shut down operations to allow the company to continue working and raise funds for the remaining balance.
- This action is part of the GRA's intensified enforcement drive to improve revenue mobilization and meet its annual collection targets.
July 8, 2026
Akandoh mourns Sefwi Sayerano shooting victims, calls for justice
- Health Minister and Juaboso MP, Kwabena Mintah Akandoh, expressed condolences for a fatal shooting incident in Sefwi Sayerano.
- The incident, which occurred during a police attempt to arrest a suspected drug peddler, resulted in three deaths and two injuries.
- A confrontation between police officers from the Sefwi Wiawso Divisional Police Command and residents led to the shootings.
- Mr. Akandoh called for justice and adherence to legal processes, urging that the law take its course.
- He also criticized minority MPs for allegedly politicizing the tragic event.