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China Grants Ghana Additional ¥200 Million to Boost Development Projects

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President John Dramani Mahama has announced that China has approved an additional 200 million Renminbi (RMB) grant to support Ghana’s ongoing development projects.

In a Facebook post on Thursday, October 16, 2025, President Mahama said the new agreement was reached after bilateral talks with Chinese President Xi Jinping. The fresh grant adds to an earlier 200 million RMB facility, bringing China’s total recent support to ¥400 million.

Based on the Bank of Ghana’s interbank exchange rate as of October 15, 2025, one Chinese Yuan (CNY) traded at approximately GH¢1.5786, making the ¥200 million grant worth around GH¢315.7 million.

President Mahama explained that the funds would be used to construct the proposed Aflao Market and renovate the National Theatre in Accra.

> “The Aflao Market will be an important trading platform linking Ghana and Togo, and forms part of our Resetting Ghana Agenda,” President Mahama said.

 

He added that Ghana and China are also working to finalize a Zero Tariff Policy by the end of October to promote smoother trade between the two nations.

During the talks, both leaders discussed ways to promote responsible small-scale mining, expand trade and investment opportunities, and deepen cooperation in new economic areas.

President Mahama revealed that China has shown interest in Ghana’s 24-hour economy initiative and Green Transition policy, expressing readiness to collaborate with the government and private sector to advance these programmes.

He also reaffirmed Ghana’s commitment to the One China Policy and assured President Xi of Ghana’s support for what he described as “a new Global System of Governance” being championed by China.

According to President Mahama, these discussions are part of Ghana’s broader Resetting Ghana Agenda, aimed at strengthening partnerships and attracting foreign investment to drive national development.

China Grants Ghana Additional ¥200 Million to Boost Development Projects

 

President John Dramani Mahama has announced that China has approved an additional 200 million Renminbi (RMB) grant to support Ghana’s ongoing development projects.

 

In a Facebook post on Thursday, October 16, 2025, President Mahama said the new agreement was reached after bilateral talks with Chinese President Xi Jinping. The fresh grant adds to an earlier 200 million RMB facility, bringing China’s total recent support to ¥400 million.

 

Based on the Bank of Ghana’s interbank exchange rate as of October 15, 2025, one Chinese Yuan (CNY) traded at approximately GH¢1.5786, making the ¥200 million grant worth around GH¢315.7 million.

 

President Mahama explained that the funds would be used to construct the proposed Aflao Market and renovate the National Theatre in Accra.

 

 “The Aflao Market will be an important trading platform linking Ghana and Togo, and forms part of our Resetting Ghana Agenda,” President Mahama said.

 

He added that Ghana and China are also working to finalize a Zero Tariff Policy by the end of October to promote smoother trade between the two nations.

 

During the talks, both leaders discussed ways to promote responsible small-scale mining, expand trade and investment opportunities, and deepen cooperation in new economic areas.

 

President Mahama revealed that China has shown interest in Ghana’s 24-hour economy initiative and Green Transition policy, expressing readiness to collaborate with the government and private sector to advance these programmes.

 

He also reaffirmed Ghana’s commitment to the One China Policy and assured President Xi of Ghana’s support for what he described as “a new Global System of Governance” being championed by China.

 

According to President Mahama, these discussions are part of Ghana’s broader Resetting Ghana Agenda, aimed at strengthening partnerships and attracting foreign investment to drive national development.

General News

Ato Forson to Present Mahama Government’s First Full-Year Budget on November 13

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Finance Minister Dr. Cassiel Ato Forson is expected to present the 2026 Budget Statement and Economic Policy to Parliament on Wednesday, November 13, 2025, sources within the Finance Ministry have confirmed.

 

The proposed date, which awaits formal approval from Parliament, will mark the Mahama administration’s first full-year budget since returning to power in 2025. It is anticipated to be a major fiscal event, setting the tone for the government’s economic direction after nearly a year of navigating global and domestic challenges.

 

Experts say the 2025 Budget—delivered shortly after the new administration took office—largely operated within the fiscal framework of the previous government. The upcoming 2026 Budget, however, is expected to reflect the Mahama government’s own economic vision and priorities.

 

As required by the Public Financial Management Act, the Finance Minister must present the national budget to Parliament no later than November 15 each year.

 

Broad Consultations

 

The Finance Ministry has concluded extensive stakeholder engagements with industry leaders, civil society groups, and development partners. These discussions helped shape key policy measures and expenditure priorities for the 2026 fiscal plan.

 

Focus on Jobs and Growth

 

Dr. Forson has hinted that the budget will focus on job creation, productivity, and innovation, with targeted investments in sectors that can drive youth employment.

The document is also expected to introduce a comprehensive tax reform aimed at expanding the revenue base while easing the tax burden on households and businesses.

 

Preparing for a Post-IMF Economy

 

With Ghana expected to exit the IMF programme by May 2026, the budget will be closely scrutinised for its post-programme economic strategy. Analysts will be watching how the government balances fiscal discipline with growth and stability.

 

Deficit Management and Infrastructure

 

Managing the fiscal deficit, debt servicing, and funding for social and infrastructure projects will also be a key highlight.

As anticipation grows, investors, businesses, and development partners await what could be the defining economic roadmap of the Mahama administration’s second year in office.

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General News

From Fat Lies To Empty Lies: The new case of Fourth Estate against Razak Kojo Opoku

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First and foremost, can Fourth Estate produce a letter indicating that I am a paid Consultant to KGL for the purpose of integrity and honesty?

 

I still insist that, NLA’s letter was written on 7th October 2025, but the leadership of KGL received the letter on 13th October 2025 (attached to the Article is the available evidence).

Again, I still insist that, Mr. Alex Dadey never asked NLA to defer its request to 2026 (attached to the Article is the available evidence).

We perfectly understand that when an argument is lost, personal attack becomes the norm, hence the current stance by Fourth Estate.

Fourth Estate and Sulemana Briamah should accept that they were completely misled in their fishing expedition work against the NLA-KGL deal instead of trying to save face by resorting to fabrication of facts.

 

Since Fourth Estate is NOT a Court or State Investigative body, no one is obliged under any Oath to offer vital information or trade information or economic data to/with them.

I will advise the media outlet to get the right information from their sources at NLA, or possibly contact their alleged ally, Albert, who is the President of the Ghana Journalists Association for help.

What even makes Fourth Estate and Sulemana Briamah think that, the letters in their possession are genuine and authentic?

 

Fourth Estate lied about NLA giving away a GHS 3 billion prime business to KGL. When the facts were made available, they refused to comment on it.

 

They also lied about NLA paying GHS 37 million to the State as Profit in 2018. When they were proven wrong with data, they stopped pushing that assertion.

 

Since Fourth Estate and Media Foundation for West Africa started this diabolic agenda against KGL, I have consistently proven them wrong with Fact and Data, and I shall continue to do so until they come to understand the lottery industry.

There will be no insults or lies, just intellectual debate based on Facts and Data.

 

I just want Fourth Estate and Sulemana Briamah to understand that, they can never win this argument because KGL has proven to be a responsible corporate entity.

In this enterprise, we reject jandam journalism and remain resolute in the defense of indigenous businesses including KGL.

 

Issued by: Razak Kojo Opoku

Former PR Manager of NLA

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Crime and Investigation

EOCO Rescues 26 Victims in QNET-Linked Human Trafficking Operation

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EOCO Rescues 26 Victims in QNET-Linked Human Trafficking Operation

 

The Economic and Organised Crime Office (EOCO) has rescued twenty-six (26) victims and arrested nine (9) suspects in a major anti-human trafficking operation linked to the QNET Company.

 

The operation, codenamed “Operation Quest,” was carried out on Friday, October 17, 2025, around 10:30 a.m. by EOCO’s Anti-Human Trafficking Unit. It followed intelligence suggesting that both Ghanaians and foreign nationals had been trafficked under the pretense of being offered employment opportunities with QNET, a company known for trading in wellness and lifestyle products.

 

According to EOCO, the suspects include two Ivorians and seven Ghanaians, while the rescued victims comprise ten Ivorians and sixteen Ghanaians. All nine suspects are currently in EOCO’s custody to assist with ongoing investigations.

 

The Office cautioned the public to be wary of individuals and groups who claim to be agents of QNET and promise lucrative job offers either in Ghana or abroad. EOCO emphasized that such schemes are often used to exploit unsuspecting people.

 

EOCO further recalled that in July 2025, it signed a joint Memorandum of Understanding (MoU) with QNET to intensify efforts to clamp down on criminal networks using the company’s name for trafficking and fraudulent activities.

 

The statement, signed by Faustina Lartey, Head of Public Affairs at EOCO, reaffirmed the agency’s commitment to combating human trafficking and urged the public to report any suspicious recruitment offers.

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