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The Director-General of the National Lottery Authority (NLA), Mr. Mohammed Abdul-Salam, has been appointed Vice President of the African Lotteries Association (ALA).

Mr. Abdul-Salam’s appointment as Vice President of ALA follows the resignation of the immediate past Director-General of NLA, Hon. Samuel Awuku, who was elected Vice President of ALA on March 8, 2024. On the appointment of Mr. Mohammed Abdul-Salam as the new Director-General of NLA, the ALA Board of Directors unanimously approved Mr. Abdul Salam to the Executive Committee to serve Hon. Awuku’s remaining term of office.

At an Online ALA Executive Meeting, the president, Mr. Dramane Coulibaly, and members of the Executive Committee congratulated the NLA Director-General and welcomed him into the Executive Committee.

Subsequently, Mr. Abdul Salam has paid a working visit to the NLA’s sister lottery body, the Loterie Nationale De Cote D’Ivoire (LONACI), where he was warmly received by the Director-General, Mr. Dramane Coulibay, who also serves as the ALA President.

In his new role as Vice President, Mr. Abdul-Salam expressed gratitude for the appointment and the longstanding relationship between NLA and LONACI. He pledged to build on the work of his predecessor, Hon. Samuel Awuku, and strengthen the ties between the two lottery bodies.

“I am most grateful to the President of ALA and the Executive Committee for my elevation as ALA Vice President. I pledge to work hand in hand with them to address our member bodies’ concerns and fulfil the Association’s goals”. Mr. Abdul-Salam said.

The NLA Director-General said he was happy to learn of some of the best practices that have boosted revenue for LONACI and sustained the business, which he plans to inculcate into NL’s operations.

Mr. Dramane Coulibaly expressed immense excitement at Mr. Abdul-Salam’s visit and said it was a testament to the excellent relationship between NLA and LONACI. He enlightened him on the intricacies of dealing with illegal lottery operators and pledged to give him all the support he needed to succeed in his role. Mr. Abdul-Salam was also a guest at a ceremony for LONACI to receive its WLA Level 2 Certification in Responsible Gaming. According to Mr. Coulibaly, this certification would help them identify the gaps and fulfil their obligations regarding responsible gaming.

“The certificate we have received today is proof, if proof were needed, of our commitment to respecting the principles of Responsible Gaming, as laid down by the World Lottery Association (WLA), and attests to the fact that LONACI has successfully undergone a critical self-assessment to identify the challenges it will have to meet to comply with all the principles of Responsible Gaming”. Mr. Dramane Coulibaly said.

The WLA Level 2 Certificate was presented to LONACI by the Permanent Secretary to ALA, Mr. Driss Hamdoune, who said this recognition illustrates LONACI’s commitment to ensuring a safer, more transparent and more responsible gaming environment.

Mr. Abdul-Salam congratulated the LONACI for this achievement and wished them well as they prepared to begin the process for Level 3 Certification

The leadership of the Volta River Authority and Northern Electricity Distribution Company (VRA-NEDCo) Staff Groups has strongly opposed the purported appointment of Jonathan Abdallah Salifu, the Upper East Regional Communications Officer of the National Democratic Congress (NDC), as Corporate Communications Manager of NEDCo.

In a press statement issued on Monday, March 3 2025, the staff described the appointment as irregular, illegal, and violating NEDCo’s corporate governance principles. They insisted that no such appointment has been officially made and urged the government to refrain from political interference in the company’s affairs.

According to the staff, the alleged appointment, announced by Mr Salifu himself on Dreamz FM, a Bolgatanga-based radio station, on February 26, 2025, disregards NEDCo’s long-standing recruitment policies.

The staff further highlighted that the current Corporate Communications Manager has served for 20 years, rising through the ranks based on merit and therefore argued that bypassing him with a politically appointed individual demoralizes and discourages professionalism.

The statement referenced the Supreme Court case of Theophilus Donkor versus  The Attorney General, which clarified that presidential appointments do not extend to public service positions under Article 195 of the 1992 Constitution.

They pointed out that NEDCo is not a public service entity under Article 190 of the Constitution, but rather a limited liability company wholly owned by VRA. As such, managerial appointments must follow the Companies Act and NEDCo’s internal procedures, rather than being imposed politically.

“Never in NEDCo’s history has a managerial position been filled directly by the government or the Office of the President. This sets a dangerous precedent and undermines the professional standards that have been the bedrock of our organization,

“While the political class has the authority to make certain appointments, this authority is not absolute and must be exercised within the bounds of the law,” the statement read.

Chairman of the National Economic Dialogue, Dr. Ishmael Yamson, has asserted that President John Dramani Mahama is the only leader capable of resetting Ghana and steering it toward sustainable economic growth.

Speaking at the opening of the National Economic Dialogue on Monday, March 3, 2025, Dr. Yamson highlighted the urgent need for transformative leadership to address Ghana’s economic challenges.

He pointed to economic mismanagement and corruption as key obstacles hindering the country’s progress, emphasizing that a decisive and visionary leader is needed to chart a new course.

“Someone must reset Ghana, and it can only be you [John Dramani Mahama]. Everywhere in the world that economic transformation has taken place, only one individual has led the charge, and the Lord has blessed you with the wisdom to take on that task,” he said.

Dr. Yamson also stressed the need to free Ghana from the grip of poor governance and corruption, urging Mahama to take bold steps in leading the country’s economic recovery.

“It is time to liberate Ghana from economic mismanagement and corruption, to reset Ghana and put it on the path of sustainable and resilient growth,” he stated.

Roads and Highways Minister Governs Kwame Agbodza says the Ministry is currently undertaking a review of all contracts signed by the Ministry.

According to the Adaklu MP, the review is aimed at identifying active and inactive contracts.

Speaking on the floor of Parliament, Kwame Agbodza said the review will save the country some money.

“We are currently undergoing an exercise at the Ministry to rationalize the portfolio to tell exactly whether every contract awarded is active.

“On record, some contracts are awarded, and the contractors never turned up on site, and every contract has a termination clause.

“If a contract is awarded and for two or three years the contractor never turned up on site, it is difficult to determine whether that is a valid contract,” he said.

Juliet Asante, the former Executive Secretary of the National Film Authority (NFA), has shared the immense challenges she encountered when she was appointed to regulate and promote Ghana’s film industry.

According to Asante, her journey began with a daunting task: establishing the NFA with only a paper mandate and no resources.

“With a paper in hand, but no office or money, I set out to recruit staff. With two staff members, we started the work. I took time to draft a strategy paper. But it became very clear, very quickly, that no one was interested and that this was going to be a very, very long road,” she revealed in a recent post.

She highlighted the severe financial constraints that made the task even more difficult. In the first year, the NFA was allocated only GH¢1,000 to run its operations.

“In the first year, we were given GH¢1,000 ($100) for the entire year. In the second year, we received GH¢10,000 (about $1,000 at the time). Neither I nor my staff received salaries for two years. We had to shoulder the cost of running a government office from our pockets. We worked from my home or the homes of other staff members,” she stated.

Asante further revealed that there was no guidance on how to establish a new government agency, making the process even more challenging.

Additionally, she had to navigate a difficult working relationship with an antagonistic board that made it clear she was not their preferred choice for the position.

Economist and Finance lecturer at the University of Ghana Business School, Professor Lord Mensah, has stressed the need for the implementation of the outcomes of the National Economic Dialogue which kicks off March 3, 2025 to steer the economy back on to the path of recovery.

President John Mahama in his maiden State of the Nation Address painted a dire outlook for the country’s economy with public debt standing at GH¢721 billion.

He added that the National Economic Dialogue will be expected to discuss the state of the economy and reach a consensus on the key policies needed to address the devastating economic crisis confronting the country.

The dialogue the president said will also support the development of a home-grown fiscal consolidation programme and highlight key structural reforms and policy priorities essential for resetting the economy and creating prosperity for all.

For economist Professor Lord Mensah, the real test lies beyond the National Economic Dialogue. He says there is a need for actionable outcomes that translate into policy shifts.

“I don’t want it to be a document or a guideline that will be restricted to this particular administration. The outcome of this dialogue should not be something that will be sitting on the shelves – just a paperwork that on the grounds, different things will be happening without necessarily implementing what we proposed at the dialogue,” he told Citi Business News in an interview.

Professor Lord Mensah also emphasized that discussions should prioritize Ghana’s exit from the current IMF program in May next year.

He noted that while Ghana demonstrates better fiscal discipline under an IMF program, it tends to struggle when managing its finances independently.

According to Lord Mensah, ensuring prudent fiscal management after the IMF program should be a key priority for discussion at the National Economic Dialogue.

“The question is as we going to hold up a dialogue, we should be able to center this discussion as to how we are going to manage our finances without IMF and be disciplined. That should be discussed thoroughly at the dialogue,” he said.

The government is set to host the much-anticipated National Economic Dialogue (NED) today, March 3, 2025, at the Accra International Conference Centre.

The two-day forum, spearheaded by President John Dramani Mahama, aims to tackle Ghana’s pressing economic challenges and chart a path toward sustainable economic growth.

Under the theme “Resetting Ghana: Building the Economy We Want Together,” President Mahama will deliver a keynote address outlining his administration’s vision for revitalizing the economy.

The dialogue forms part of his commitment to fostering inclusive discussions on economic policies and reforms, ensuring that key stakeholders contribute to shaping the country’s financial future.

The forum will bring together a diverse group of participants, including representatives from the private sector, academia, public policy institutions, and civil society organizations. Their discussions will be structured around thematic sessions addressing critical areas such as:

• Achieving Sustainable Macroeconomic Stability
• Promoting Economic Transformation
• Advancing Infrastructure Development
• Implementing Structural Reforms
• Ensuring Private Sector-Led Growth
• Restoring Good Governance and Combating Corruption

With Ghana facing economic crisis, the government is hopeful that this engagement will generate consensus-driven solutions to boost business confidence, improve infrastructure, and enhance livelihoods.

The outcomes of the dialogue are expected to serve as a roadmap for policy implementation, guiding economic decisions that promote resilience and long-term growth.

Stakeholders will work toward establishing clear commitments and milestones to reset the economy and drive transformative change.

As the National Economic Dialogue kicks off, Ghanaians look forward to concrete policy recommendations that will shape the country’s economic trajectory for years to come.

On Friday, February 28, 2025, treasury bills witnessed an unprecedented decline in yields, marking one of the sharpest drops in decades.

Latest auction results from the Bank of Ghana indicate that rates, which started the year between 28% and 30%, have now fallen to an average range of 20% to 22%.

This steep decline follows a series of strong investor demand and shifting yield expectations, largely driven by recent rejections of higher bids by the Treasury.

At the start of the year, the 91-day Treasury bill stood at 28.34%, but it has now plunged to 20.79%, a 760-basis-point drop. Similarly, the 182-day bill has fallen from 28.96% to 22.98%, reflecting a 600-basis-point decline. The 364-day bill, which was yielding 30.17%, has now dropped to 22.69%, marking a significant 750-basis-point reduction.

Was this expected and how low can T-Bill rates go?

For market watchers, the overall trend was anticipated, but the pace and scale of the decline have surprised many. Although it’s hard to know the lowest point, some factors can help estimate where rates will stop falling. Inflation and monetary policy: If inflation continues to decline, the Bank of Ghana (BoG) may have less pressure to maintain high yields. A stable inflation rate in the 15-18% range could push T-bill rates closer to 18-20%.  They also note that, much will depend on the upcoming Monetary Policy Committee (MPC) decision. If the MPC maintains the policy rate at 27%, institutional investors might shift their focus to the Bank of Ghana’s 56-day bill should it offer a more attractive return. Additionally, the persistence of strong investor demand, coupled with the Treasury’s efforts to reduce borrowing costs, is likely to drive yields further down.

Government borrowing needs: The government’s fiscal position will also play a role. If borrowing remains high, the BoG may need to keep rates attractive to investors. A reduced financing gap, however, could mean further declines.

Market liquidity and investor sentiment: The high demand for T-bills in recent auctions suggests that investors are still keen on government securities, even at lower rates. If demand persists, rates could fall further but may not go below 18% without significant inflation control and policy shifts.

The big question now is: At what level will yields finally settle?

With no obvious and safe investment options available on the market, market watchers believe investors continue to lock in their funds in anticipation of further declines. The medium-term floor for yields remains uncertain, but investor appetite and the Central Bank’s next moves will be key in determining where rates eventually stabilise.

Government exceeds target despite rate drop

Despite the steep decline in rates, the government successfully exceeded its Treasury bill target in the latest auction. Total bids tendered amounted to GHS 18.25 billion, slightly lower than the previous week’s GHS 20.50 billion, yet still surpassing the government’s target by GHS 924.94 million.

The auction results showed that while the government aimed to raise GHS 6.49 billion, it received bids totalling GHS 7.41 billion, leading to an oversubscription of 14.18%. However, it rejected GHS 10.84 billion in bids. Investor interest remained particularly strong for the 364-day bill, which attracted GHS 8.72 billion in bids, out of which GHS 2.01 billion was accepted. The 91-day bill followed, with GHS 6.21 billion in bids, of which GHS 2.38 billion was accepted. The 182-day bill saw GHS 3.32 billion tendered, with GHS 3 billion accepted.

Looking ahead, the Treasury plans to raise GHS 5.74 billion in the next auction.

With investors continuing to chase yields, all eyes will be on the next policy decision and whether the downward trajectory of rates will persist or finally find a floor.