Category: Local News

Republic Bank (Ghana) PLC has appointed Jonathan Prince Cann as its new Board Chairman, effective February 20, 2025, following approval from the Bank of Ghana. Jonathan Cann succeeds Mr. David Addo Ashong, who has served in an acting capacity since August 2023. His appointment reaffirms the bank’s commitment to strengthening corporate governance and driving sustainable growth in the financial sector.

His extensive expertise will also be instrumental in guiding the Bank’s strategic direction, reinforcing its position as a market leader, and supporting its long-term vision of financial inclusion and economic development in Ghana. Speaking on the appointment, the Managing Director of Republic Bank (Ghana) PLC, Mr. Benjamin Dzoboku, stated: “We are delighted to welcome Mr. Jonathan Prince Cann as our new Board Chairman. His leadership and industry experience will be invaluable in driving the Bank’s growth and enhancing our value proposition to customers, shareholders, and stakeholders.”

Mr. Jonathan Cann is an astute Management Consultant specializing in Governance, Risk Management and Compliance (GRC). He also specializes in Organizational & Business Development including supporting SMEs and other corporates in structuring, restructuring, and developing management systems and capacities across industries. He is a Chartered Accountant by profession and holds an MBA in Financial Services from the University of East London (UEL) and a Bachelor of Commerce (BCom) from the University of Cape Coast (UCC), Ghana. He holds several professional certifications in ISO Standards and Risk Management.

Jonathan is the founder and Managing Director of JPCann Associates Limited and its subsidiaries.

He brings a wealth of experience and strategic leadership to the Republic Bank (Ghana) PLC Board which he joined in June 2024 and served as Chairman of the Audit Committee.

Republic Bank extends its profound gratitude to Mr. David Addo Ashong for his exceptional leadership and dedication during his tenure as Acting Chairman as his contributions have been pivotal in the Bank’s continued success.

The appointment of Jonathan Cann highlights a new chapter for Republic Bank, as it remains dedicated to executing its recently introduced five-year strategic plan, “Republic Verse” with a focus on innovative financial solutions, expansion and sustainable growth.

Dr. Johnson Asiama, the newly sworn-in Governor of the Bank of Ghana (BoG), has outlined plans to reverse the Central Bank’s negative equity position following recent financial losses. Speaking at his swearing-in ceremony on Tuesday, February 25, 2025, Dr. Asiama stressed that restoring the Bank’s financial health is critical to maintaining stability, credibility, and public trust. “My sixth and last priority area is the need to reverse the Bank of Ghana’s negative equity position or the losses that have been incurred in recent years all to maintain financial stability, maintain the institution’s credibility, and restore public trust,” Dr. Asiama stated.

The Bank of Ghana recorded significant losses in recent years, largely due to debt restructuring measures and broader economic challenges. The Governor underscored the urgency of addressing this situation through a combination of cost-cutting measures and strategic financial policies.

“In this vein, we will seek to re-examine the Bank’s non-core operations, and I must say that some of these have started already in the last two weeks where savings could be made. We shall adopt several austere measures to help reduce the Bank’s operational costs and achieve cost efficiency,” he explained. As part of the efforts to restore the BoG’s financial position, Dr. Asiama revealed that clear policies would be put in place to ensure a structured return to positive equity in the medium term. “We will craft very clear policies to return the Bank of Ghana’s negative equity to positive equity in the medium term,” he assured.

The Bank of Ghana, in its 2022 Published Annual Report and Financial Statements, reported a loss of GHC 60.8 billion largely attributed to the impact of the domestic debt exchange programme, which significantly impaired the bank’s balance sheet.

This development has raised concerns among economic stakeholders about its potential long-term impact on the economy

The BoG has severally defended its position, stating that despite the losses, it remains solvent and capable of performing its mandate. Former Governor, Dr. Ernest Addison also indicated that the bank’s financial position will improve as economic conditions stabilize.

Meanwhile, Deputy Finance Minister-designate Thomas Nyarko Ampem during his vetting has ruled out using public funds to recapitalize the Bank of Ghana.

The Ghana Police Service has assured participants of the 2025 Heritage Caravan of comprehensive security, ensuring a safe and enjoyable experience throughout the event. The commitment comes as anticipation builds for the annual cultural expedition, organized by Channel One TV and Citi FM, scheduled to run from March 2 to March 9, 2025. The assurance was given during a meeting between a police delegation and Channel One TV’s management at Tesano on Tuesday, February 25.

Chief Inspector Stephen Enos and ASP Evans Kwadwo Appiah led the police team in discussions on security arrangements for the event. As the event date approaches, the Ghana Police Service, in collaboration with Channel One TV, is implementing strategic security measures to address potential challenges and maintain order. Participants are encouraged to adhere to safety guidelines and cooperate with security personnel to ensure a memorable and incident-free adventure. About the Heritage Caravan

The Heritage Caravan, organized annually by Channel One TV with support from Citi FM, is a flagship event that takes participants on an exciting journey across Ghana, exploring historic landmarks, diverse cultures, and breathtaking landscapes. The 2025 edition, scheduled for March 2–9, 2025, promises an unforgettable travel experience filled with cultural immersion, thrilling activities, and engaging storytelling. Celebrating Partnership and Tourism

Other sponsors of the 2025 Heritage Caravan include the National Lotteries Authority (NLA), Hollard Insurance, OmniBSIC, Appolonia City, Standard Water, Peeva Beverages, GB Foods and GOIL PLC with the Ghana Tourism Authority as partners.

Together, these organizations aim to solidify the event’s position as Ghana’s premier travel and cultural experience, uniting adventurers eager to explore the best the nation has to offer.

With its growing popularity and commitment to excellence, the Heritage Caravan continues to make a significant impact on Ghana’s travel and tourism landscape.

Ghana’s real household expenditure is expected to grow by 2.5% year-on-year in 2025, following a modest 1.1% increase in 2024.

According to Fitch Solutions, this rise will push total household spending to GH¢129.7 billion—a 25.4% increase from the GH¢103.4 billion recorded in 2019 before the pandemic.

The UK-based research firm attributed the projected expansion to easing inflation and improved cedi stability in 2025, creating room for a more accommodative monetary stance from the Bank of Ghana (BoG).

“We will see an improvement in Ghanaian household spending over 2025, as households rally from elevated inflation and cedi weakness. Following the presidential elections in December 2024, consumer activity is already beginning to rebound, and with cooler levels of price growth, greater cedi stability, and a dovish approach from the Bank of Ghana, households will see a marked uptick in purchasing power and will support a rebound in both essential and discretionary segments,” Fitch Solutions stated.

In December 2024, mobile money transaction volumes hit an all-time high of GH¢745.0 million, up from GH¢678.8 million in July 2024. This surge highlights increasing consumer activity, particularly following the December 2024 presidential elections.

“While inflation remains a key driver of the growth of the value of mobile money transactions, the rate of growth is considerably above the level of inflation and is therefore pointing to a consumer recovery story, which is reflecting in strong spending growth figures over H2 [second half] 2024 and into 2025,” Fitch Solutions noted.

The firm concluded that lower inflation in 2025 will further stimulate spending and transaction volumes while also benefiting from reduced debt servicing costs.

President John Mahama has officially sworn in Dr. Johnson Asiama and Dr. Zakari Mumuni as Governor and Deputy Governor of the Bank of Ghana.

Minister of Youth Development and Empowerment, George Opare Addo, has stated that he will step down as the National Youth Organizer of the National Democratic Congress (NDC) if President John Dramani Mahama requests it.

His remarks come amid concerns over potential conflicts of interest due to his dual roles in government and the party.

Speaking on Channel One TV’s Face to Face with Umaru Sanda Amadu, Opare Addo assured that he can effectively manage both responsibilities.

“Any day the President decides that I don’t have to and I have to resign, I will resign. I’m not the first national officer who’s been made a minister. When Hon. Haruna Iddrisu was communication minister, he was still the National Youth Organiser until we went to Congress in Tamale and someone was elected in his place,” he explained.

He reaffirmed his confidence in handling both roles efficiently, stating, “I believe I’m capable. If it becomes too much for me and I have to resign, I will do so, but as it stands now, I am very much capable.”

Opare Addo remains committed to advancing youth development initiatives while continuing to serve in his party position.

Former Greater Accra Regional Chairman of the National Democratic Congress (NDC), Ade Coker, has proposed that constituency chairmen be appointed as Metropolitan, Municipal, and District Chief Executives (MCEs) to enhance grassroots governance.

He argued that constituency chairmen are closer to the people and better understand the development needs of their communities.

Constituency chairmen should be made MCEs. They are always with the people and know where development is needed. If we want to take governance to the people, we need them,” he stated.
Ade Coker emphasized that appointing constituency chairmen would help bridge the gap between the government and the people, making governance more effective and responsive.

He, however, stressed that appointees must have the necessary qualifications and knowledge for the role.

He also commended the Mahama administration, stating that it is performing well so far.

A motor rider has tragically lost his life after being hit by a moving train at Avenor in Accra.

The unfortunate incident occurred around 5:30 on Monday when the deceased, whose identity is yet to be established, attempted to cross the railway line.

According to eyewitnesses, the rider noticed the train approaching but miscalculated his ability to cross the tracks before it reached him.

Just before he reached the other end of the railway line, the train struck him with full force, killing him instantly.

The Ghana Police Service was called to the scene with the body deposited at the mortuary.

They have commenced investigations with efforts to identify the deceased and trace his relatives for necessary procedures, including the collection of the body.

Meanwhile, residents of Avenor have called on relevant authorities to implement more stringent safety measures around railway crossings to prevent similar occurrences in the future.

Member of Parliament for Akwatia, Ernest Yaw Kumi, has escalated his legal battle to the Supreme Court, seeking to overturn a contempt conviction handed down by the Koforidua High Court on February 19.
The MP’s legal counsel, Gary Nimako Marfo, filed an application for certiorari and prohibition, challenging the ruling delivered by Justice Emmanuel Senyo Amadehe. According to the application, the High Court judge allegedly overstepped his authority by proceeding with a parliamentary election petition before the Electoral Commission officially published the election results in the Gazette.
Marfo argues that Justice Amadehe committed “a jurisdictional error of law apparent on the face of the record when he assumed jurisdiction in [the] Parliamentary Election Petition at Akwatia Constituency at the time when the Electoral Commission had not published the Gazette Notification of the results to which the Election relates in the Gazette.”

The conviction stemmed from Kumi’s alleged defiance of an interim injunction that barred him from being sworn into office as a legislator. Following this, Justice Amadehe issued a bench warrant for Kumi’s arrest after finding him in contempt of court.
However, Kumi’s legal team insists that the judge violated the principles of natural justice by proceeding with the contempt hearing while a motion to dismiss the application for lack of jurisdiction was still pending. The application states:
“The learned High Court Judge breached the rules of natural justice when he proceeded to hear and determine the Contempt application despite the pendency of Applicant’s Motion to set aside the said Contempt application for want of jurisdiction.”

The MP’s lawyers also allege bias on the part of Justice Amadehe, claiming that the judge was prejudiced against their client by denying the legal team a hearing. According to the application:
“The learned High Court Judge was biased and highly prejudiced against the Applicant when he, among others, refused to grant Counsel for the Applicant audience on the basis that Counsel had not filed ‘Appearance’ in the contempt application.”
As part of their reliefs, Kumi’s legal team is urging the Supreme Court to declare the election petition filed by Henry Boakye-Yiadom on December 31, 2024, invalid due to the absence of an official Gazette notification. They argue that:

“The Petition filed by the 1st Interested Party [Henry Boakye-Yiadom] on 31st December 2024 in the absence of the Gazette Notification of the Parliamentary Election Results to which the election relates is incompetent, as same did not properly invoke the jurisdiction of the High Court, and that any Order founded on same is void and of no effect.”

In addition, they are requesting the Supreme Court to nullify both the contempt proceedings and the February 19 ruling:
“A declaration that the Contempt Proceedings and the Ruling dated 19th February 2025, founded on the premature election petition filed on 31st December 2024, is void and of no effect.”

In addition, they are requesting the Supreme Court to nullify both the contempt proceedings and the February 19 ruling:
“A declaration that the Contempt Proceedings and the Ruling dated 19th February 2025, founded on the premature election petition filed on 31st December 2024, is void and of no effect.”
The legal team is also seeking an order to quash the execution of the bench warrant issued against the MP:
“An Order quashing the Ruling delivered on the Contempt Application and the Execution of the Bench Warrant issued by the Court dated 19th February 2025, by His Lordship Justice Emmanuel Senyo Amadehe.”
The Supreme Court has yet to schedule a date for the hearing of the application.

A NIGERIAN ARMED ROBBER CAUGHT IN ASHAWO ROOM WITH TOILET ROLL AND A HANGER AT KASOA. Yesterday on the 24th of February,2025 around 4 am a Nigerian armed robber named Joseph invaded in ashawo’s room and caught with Toilet roll and a Hanger. After interrogation, he said it was the work of devil and should be forgiven. The sad part of the story is that, the armed robber didn’t break the door nor the windows to penetrate but rather used charms to get into the room and unfortunate for him met a man and asked what was his mission in the room or what he was looking for,but the armed robber replied that he came with one lady but the lady happened to vanished in a thin air. He was beaten with mob sticks and other items and naked him. Videos attached to story 👇👇👇👇