The former Ghana Minister of Finance wanted by the Office of Special Prosecutor (OSP) to answer to corruption and corruption related charges has sued the OSP.

Mr Ken Ofori-Atta filed a lawsuit against the OSP following its decision to declare him wanted, and he is seeking an injunction to prevent the OSP from reissuing the declaration, which he claims is baseless and unjustified.

Late last year, the OSP declared him a fugitive when he was unavailable in the country to answer the charges. Mr Ofori-Atta had said he was abroad seeking medical care and would be away indefinitely.

He had also said he was cooperating with the OSP through his lawyers.

In the suit against the OSP, Ofori-Atta argues that the OSP’s actions have caused significant damage to his reputation and personal life.He is therefore asking the court to restrain the OSP from making any further declarations against him until the legal process is fully resolved.

Among other things he is seeking a declaration that;

“a.) The OSP has no statutory powers to use Media Briefing to declare a person WANTED or “fugitive from justice”;

b.) The OSP has no powers other than what is provided for the police to declare a person wanted and same cannot be done without leave of the Court;

c.) The Office of the Special Prosecutor, in exercising the powers of the police as provided for under Section 28 of the Office of the Special Prosecutor Act, 2017 (Act 959), and the Office of the Special Prosecutor (Operations) Regulations, 2018 (L.I. 2374), is bound by the limits placed on the exercise of discretionary power as enshrined in the Service.

Instructions of the Police Service, under Article 200, and consistent with Article 296 of the Constitution 1992;

d.) The unlawful declaration of the Applicant as “WANTED” or “fugitive from justice” constitutes violation of his right of personal liberty as enshrined in Articles 14 of the 1992 Constitution; and right of free movement enshrined in Article 21 of the 1992 Constitution, Article 12 of the International Covenant on Civil and Political Right (ICCPR) as well as Article 12 of the African Charter on Human and People’s Rights (AfCHPR);

e.) Any act of the Office of the Special Prosecutor as a State Agency that violates the Applicant’s human rights will amount to a breach of Ghana’s international treaty obligations under the African Charter on Human and People’s Rights and the International Covenant on Civil and Political Rights.”

In its response the OSP acknowledged the law suit, indicating that Mr Ofori-Atta has formally requested the OSP to remove his name from the OSP’s list of wanted persons with the assurance to the OSP that he would make himself available for questioning on a definite date.

“The OSP, in good faith and on the basis of Mr. Ofori-Atta’s assurance, granted his request and removed his name from the OSP’s list of wanted persons pending his personal attendance,  at the OSP on the definite date.

“Mr. Ofori-Atta is mandatorily required to appear in person before the OSP on 2 June 2025. If Mr. Ofori-Atta fails to attend the OSP on the scheduled date, he shall be re-entered on the OSP’s list of wanted persons and the OSP shall consider him a fugitive from justice, whereupon the OSP will cause the issuance of an Interpol Red Notice in his regard and also cause the initiation, of extradition proceedings in any jurisdiction in which he may be found,” the OSP said in a statement.

In concluding the OSP said it remains unwavering in its commitment to enforcing the law and ensuring that Mr Ofori-Atta answers for his role as the prime suspect in five ongoing corruption and corruption related investigations.

By Emmanuel K Dogbevi

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The Minister of Finance, Dr Cassiel Ato Forson, has, so far, presented eight bills to Parliament to abolish some “nuisance taxes” including the Electronic Transaction Levy (E-Levy), 10% withholding tax on all betting winnings from lottery and National Health Insurance Levy.

The Bills have been referred to the Finance Committee of Parliament for consideration and report back to the House.

The proposed bills included the Electronic Transfer Levy (Repeal) Bill, 2025, Ghana Infrastructure Investment Fund (Amendment) Bill, 2025, Revenue Administration (Amendment) Bill, 2025, Special Import Levy (Amendment) Bill, 2025, Emissions Levy (Repeal) Bill, 2025, Income Tax (Amendment) Bill, 2025, Growth and Sustainability Levy (Amendment) Bill, 2025, and Earmarked Funds Capping and Realignment (Amendment) Bill, 2025.

The finance minister, in a brief comment on the floor of Parliament on Thursday, said the move was in fulfilment of the Mahama-led Government’s promise to alleviate the tax burden on Ghanaians.

Those proposed tax repeals and amendments, he added, aligned with the National Democratic Congress’ (NDC) manifesto pledge to ease the financial burden on the citizens.

This follows the Finance Minister’s announcement during the presentation of the 2025 Budget and Economic Statement of government on Tuesday, March 11,2025.

Source: GNA

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The New Patriotic Party (NPP) Minority in Parliament on Thursday alleged that the Mahama-led Government has borrowed GH¢73 billion in two months since assuming office on January 7, 2025.

Dr Gideon Boako, the Member of Parliament for Tano North, addressing the media during the Minority’s True Budget Statement at Parliament House, said the Caucus had received report that on Friday, March 14, the Finance Minister, Dr Cassiel Ato Forson would borrow an additional six billion Ghana cedis from the domestic stock market to increase the borrowed amount to GH¢79 billion.

He observed that given the alarming rate of borrowing by the government, if care was not taken, it would borrow GH¢200 billion by the end of the year.

Dr Boako expressed shock at the rate of the Government’s borrowing, noting that the Akufo-Addo’s government did not borrow up to GH¢15 billion in 2017 upon assuming office.

He also expressed surprise at the GH¢2.7 billion budget compensation allocated to the Office of the Government Machinery (OGM), noting that the previous NPP government allocated GH¢326 million to the OGM in 2024.

The legislator also wondered how a whopping GH¢78.8 million was located to the Government Communications headed by Felix Kwakye Ofosu, which was higher than the budget of four ministries in the previous government while GH¢50 million was allocated solely to the Research Department of the OGM.

Dr Mohammed Amin Adam, the former Minister of Finance and Member of Parliament for Karaga, said the ruling National Democratic Congress (NDC) Government had been using clandestine strategy to manipulate the fiscal data to support its baseless claims of inheriting a badly managed economy from the previous NPP government.

“This is a carefully crafted strategy that been pursued right from the President himself during his message on the State of the Nation and repeated at the National Economic Dialogue.

“The 2025 Budget was, however, going to be the vehicle for confirming what has been perfectly rehearsed to crown the narrative by putting data to the unfounded claims,” Dr Adam stated.

Source: GNA

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Mr Kenneth Nana Yaw Ofori-Atta, former Finance Minister, has sued two police officers for leading a team to raid his residence at Labone in Accra.

Court documents cited by the Ghana News Agency on Wednesday named the officers as Deputy Superintendent of Police Bismark Boakye Ansah and Chief Inspector Mensah, also known as Sir Mensah. 

The two are the defendants in the matter.

The former Minister, according to the documents, was seeking a declaration that the defendants’ entry and conduct of search on his property at Labone, on February 11, 2025, was “trespassory and a breach of plaintiff’s right to privacy,”

“The plaintiff is, therefore, seeking damages for trespass and aggravated damages for breach of privacy.”

“The Finance Minister is further seeking perpetual injunction restraining the defendants, whether by themselves, agents, assigns from entering his property or further breaching his privacy or repeating similar or other conduct against him.”

In his statement of claim, Mr Ofori-Atta held that on February 11, 2025 the defendants, together with some 12 others (thereafter collectively called the ‘raiding team’) without prior notice to the consent of him and bereft of any legal basis, entered his property and conducted an extensive search.

The “raiding team”, comprising the two defendants, nine military personnel carrying assault rifles and other menacing looking individuals in plain clothes, carried sidearms on their bodies, he said.

He said the “raiding team” did not produce any form of warrant nor indicate to his domestic staff the basis for the search but warned them to desist from using their mobile phones throughout the period of “unauthorised operation.”

The plaintiff said his domestic staff, with morbid fear, and intense trepidation, looked on helplessly as the team searched the nooks and crannies of his property.

He said a member of the team who doubled as a videographer, filmed with his cell phone all spaces in the property, including bedrooms, living areas, kitchen and other private spaces.

The plaintiff contended that his domestic staff were traumatised and had sustained varying degrees of severe shock as a result.

The ex-Finance Minister said the raid on his property, which gained notoriety both  domestically and internationally, had not only exposed him to public ridicule, resentment and scorn, but also portrayed him as a criminal.

“This has negatively impacted my hard-earned reputation in the international community,” he said.

Plaintiff said his lawyers had sought confirmation from the offices of the National Intelligence Bureau, the Chief of Defence Staff, and the Inspector General of Police whether or not the “raiding team” acted at their instance and the purpose thereof, but “no response thereto has been received.”

Source: GNA

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The Total Revenue and Grants for 2025 is projected at GH¢223.8 billion or 17.2 per cent of Gross Domestic Product (GDP) up from GH¢186.5 billion or 17.4 per cent of GDP.   

The projection is underpinned by non-oil revenue measures, which are expected to yield at least 0.5 per cent of GDP.  

Dr Ato Baah Forson, the Minister of Finance, said this when he presented the 2025 Budget Statement and Economic Policy to Parliament in Accra on Tuesday, on the theme: “Resetting the Economy for the Ghana We Want.”   

He said total expenditures (commitment) for 2025 had been programmed at GH¢269.1 billion (20.7 per cent of GDP) down from GH¢279.2 billion (26.0 per cent of GDP) in 2024.  

Primary Expenditure on a commitment basis (expenditures net of interest payments) is projected at GH¢204.7 billion, representing 15.8 p er cent of GDP in 2025, a significant decline from GH¢232.4, representing 21.7 per cent of GDP in 2024.  

He said based on the resource allocations for the fiscal year, the total appropriation for the year ending December 31, 2025, was GH¢290,971,212,435.  

“Based on the estimates for total revenue and grants and total expenditure (commitment), the projected overall balance on commitment basis is a deficit of GH¢43.8 billion, equivalent to 3.1 per cent of GDP,” he added.   

The corresponding primary balance on commitment basis was a surplus of GH¢ 20.3 billion, equivalent to 1.5 per cent of GDP.  

On cash basis, overall balance is a deficit of GH¢56.9 billion, equivalent to 4.1 per cent of GDP.   

The Minister said the corresponding primary balance on cash basis was a surplus of GH¢7.3 billion, equivalent to 0.5 per cent of GDP, with the cash deficit of GH¢56.9 billion expected to be financed from both foreign and domestic sources.   

The total foreign net financing would amount to GH¢21.4 billion (1.5 per cent of GDP), the Minister said.   

Foreign financing would include a provision for financing from IMF Extended Credit Facility programme disbursements of $720 million and World Bank Development Policy Operation funding of $600 million.  

The residual net domestic financing will amount to GH¢36.9 billion (2.6 per cent of GDP), representing 65.0 per cent of the total financing for 2025.   

This is expected to be sourced from the issuances of debt at the short end of the domestic market.  

Source: GNA  

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The Bank of Ghana is asking for GH¢53 billion bailout to address the central bank’s negative equity position.

Presenting the 2025 Budget this morning in Parliament, the Minister of Finance, Dr Cassel Ato Forson said there are mounting and accumulated arrears/payables, including the central bank’s negative equity position.

“Mr. Speaker, the Bank of Ghana is also asking for a bailout of about GH¢53 billion to address their negative equity position. Mr. Speaker, as part of measures to address these mounting accumulated arrears/payables, we have commissioned an audit of these arrears/payables and guarantee value for money before payment,” he said.

When the Bank of Ghana released its full-year 2022 audited financial statements on July 28, 2023, the financial statements reported a total loss of GH¢60 billion. The Bank explained that GH¢53.1 billion of those losses were a direct result of the government’s domestic debt restructuring exercise.

In 2023, the Bank reported a loss of GH¢10.5 billion which it said was in line with experiences of some central banks globally as a result of the cost incurred in delivering on their primary mandate of price stability.

The Bank cited other reasons for the loss, such as interest rates being at high levels, the cost of conducting open market operations which surged in 2023, and contributed to high interest expense.

It noted also that impairments on newly issued Government of Ghana Bonds, per International Financial Reporting Standards, added to the loss position reported in the year.

The Bank further stated that on the income side, the improvement in interest income and earnings derived from the Bank’s foreign investments could not keep pace with total expenditures.

According to the Minister, in addition to the GH¢67.5 billion in arrears/payables, the validation process also revealed that MDAs have committed government through contract awards in excess of GH¢194 billion, about 16.5% of GDP as at end-2024, with the road sector alone accounting for over GH¢100 billion.

“Mr. Speaker, most of these contracts were awarded without commencement certificates and authorization, and without budgetary provision, a blatant violation of the Public Financial Management Act, 2016 (Act 921),” he added.

Dr Forson said apart from the huge arrears and commitments, the country’s fiscal situation is further complicated by huge bullet debt service and constrained financing options.

“Currently, the government’s options to financing the budget is limited to only the treasury bill market following the debt restructuring programme,” he said.

By Emmanuel K Dogbevi

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Ghana’s economy grew by 5.7 per cent in 2024, but Q4 growth slowed to 3.6 per cent, down from 7.2 per cent in the third quarter.

The slowdown in Q4 was largely driven by weaker growth in the Industry sector, which increased by just 0.2 per cent.

A significant factor was the sharp contraction in mining and quarrying, which accounted for about 43 per cent of the Industry sector’s total value.

The Services sector remained the largest contributor to GDP, representing 49.2 per cent of total output, followed by Industry (31.9 per cent) and Agriculture (19.0 per cent).

At constant 2013 prices, Ghana’s oil GDP for Q4 2024 stood at GH¢53,137.0 million, while non-oil GDP was GH¢50,262.5 million. In nominal terms, GDP at basic prices reached GH¢308,086.5 million.

Source: GNA

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Mr Kwabena Mintah Akandoh, the Minister for Health, says the government will need about GH¢140 million to fully equip and operationalise the Ahanta West Municipal Hospital under the Agenda 111 project at Bokoro in the Western Region.

The Hospital, which started under the erstwhile New Patriotic Party (NPP) government, had remained non-functional after three months of commissioning.

Mr Akandoh, who toured the project site to assess the state of the facility, told journalists that the Hospital was uncompleted for use and that government needed to raise additional funds to fully equip and operationalise the facility.

He said: “As we speak, we need to cough not less than $9 million for this, which is about GH¢140 million.

“Completing the project is one thing, and paying for it, is another thing because the operation of a hospital is not just the brick and mortar.”

He stated that the Agenda 111 project was estimated to cost about $1.9 billion, but none of them had been completed and operationalised.

“We have expended $400 million, but do not have one of these projects in operation.

“Basically, we have visited about two others and the Bokoro  project is another one commissioned that has not been in operation,” Mr Akandoh added.

The Health Minister continued: “Once you are leaving behind the uncompleted project, you leave money for the completion, and we do not have a pesewa as I speak to you now to finish this project, because there was no reliable and dedicated source of funding.”

 He, however, said his ministry had been tasked to assess all the Agenda 111 projects nationwide and devise strategies to complete and put them to good use to cater for the health needs of the people.

Mr Akandoh said: “This is what we have inherited, but whatever it is, we must put it to good use, and that is what is important because we cannot let this facility go waste, and so this will come up in our reports.”

Source: GNA

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The Ghana Statistical Service (GSS) has released its 2024 trade data, revealing that three key commodities accounted for a significant portion of the country’s export earnings.  

Gold, mineral fuels and oils, cocoa beans and products collectively made-up 83.4 per cent of all exports, demonstrating their continued importance to Ghana’s economy.  

According to the GSS report, gold exports reached GH¢163.0 billion, solidifying its position as the leading export commodity. Mineral fuels and oils followed with GH¢54.2 billion, while cocoa beans and products contributed GH¢28.6 billion.   

“This dominance highlights the concentration of Ghana’s export portfolio in these sectors,” the report said.  

The combined share of these three products increased from 80.6 per cent in 2023, showing g growing reliance on those commodities for export revenue.   

The report said while the share of mineral fuel and oil imports decreased from 32.1 per cent in 2023 to 25.7 per cent in 2024, the value of those imports still saw an increase of GH¢6.3 billion.  

Source: GNA

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A recent report by the Ghana Statistical Service reveals that 10 products accounted for a third (33.4 per cent) of all imports into Ghana in 2024, with diesel and petrol topping the list.

The highest import value was recorded for diesel – automotive gas oil (AGO) for Tema Oil Refinery, amounting to GH¢28.9 billion.

 This was followed by light oils, motor spirit, super, with a value of GH¢24.1 billion.

Other significant imports included self-propelled bulldozers with a 360 revolving superstructure (GH¢6.2 billion), cement clinkers (GH¢4.8 billion), and used vehicles with engine capacity between 1500cc and 3000cc (GH¢4.2 billion).

The report also highlighted the trade surplus of GH¢32.1 billion that Ghana recorded through intra-African trade in 2024, compared to GH¢20.7 billion in 2023.

Source: GNA

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