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Akufo-Addo govt will soon introduce BoG recapitalization levy – NDC alleges
The Minority Leader, Dr. Cassiel Ato Forson has alleged that the government will soon introduce a Bank of Ghana (BoG) recapitalization levy for Ghanaians to pay.
He contends that this will be a tax to recapitalize the central bank since it is on the verge of collapsing.
This follows the National Democratic Congress’ (NDC) call for the Governor of the Bank of Ghana, Dr Ernest Addison and his deputies to resign immediately for allegedly mismanaging the institution, resulting in the GH¢60 billion losses the Central Bank recorded in 2022.
Speaking to journalists on Tuesday, August 8, 2023, Dr Ato Forson described the mismanagement at the Bank of Ghana as unfortunate.
“The IMF has made offers to assist the Government to develop a plan for the recapitalization of the Central Bank. That is why paragraph 18 of Ghana’s Memorandum of Economic and Financial Policy (MEFP) sent to IMF stated this fact. Let me assure you that very soon, Ghanaians will be made to pay for Bank of Ghana recapitalization levy, a tax to recapitalize the Bank of Ghana, because the central bank has collapsed virtually,” the Minority Leader claimed.
He lashed out at the Governor of BoG for spending $250 million on building a new head office while the apex bank struggles to stay afloat.
“Perhaps the more troubling fact is that, having brought the Bank of Ghana to this terrible financial state, the Governor and his deputies have found it prudent and expedient to invest $250 million (GHC2.8 billion) on another Head Office building somewhere at Ridge. In our circumstances, this is the height of insensitivity in the management of the finances of a troubled country”.
Credit:Citinewsroom.com
Ghana Tourism Authority is leading Ghana’s participation at ITB Berlin, which opened in Berlin with a vibrant national pavilion highlighting Ghana’s rich cultural heritage, tourism destinations and investment opportunities.
March 5 has been designated as Ghana Day, a special platform to promote Ghana’s languages, cuisine, Kente, festivals and business prospects to the global tourism community. The stand has already drawn strong interest with traditional arts and crafts displays, immersive multimedia presentations and popular Ghanaian snacks.
Seven private-sector players are exhibiting alongside government officials as part of efforts to deepen trade partnerships, expand market access, and attract investment across the hospitality, heritage tourism, ecotourism, and creative arts sectors.
Ahead of the official opening, the Ghana delegation also engaged young Ghanaian investors in Germany in collaboration with V Afrika-Verein and the Ghana Embassy, strengthening diaspora investment linkages and highlighting opportunities within the tourism value chain.
Ghana’s coordinated presence at ITB Berlin 2026 reinforces its strategy to position the country as the Gateway to Africa and a competitive destination for leisure travel and global investment.
The Member of Parliament for Nsawam Adoagyiri, Frank Annoh Dompreh, has expressed concern over delays in the release of the District Assemblies Common Fund, warning that the situation is stalling development across the country.
On his facebook page, he described as a matter of urgent national importance, the Minority Chief Whip pointed to what he sees as a growing crisis of unpaid contractors, abandoned projects, and halted infrastructure works in many districts.
He noted that several communities are grappling with half completed schools, unfinished health facilities, abandoned markets, deteriorating roads, and stalled sanitation projects.
According to him, many contractors who have executed projects for district assemblies have not been paid, forcing some construction firms to demobilise from sites while workers lose their jobs.
He stressed that the District Assemblies Common Fund is not a discretionary allocation but a constitutional requirement under Article 252 of the 1992 Constitution, intended to support development at the local level.
In his view, years of delayed releases and accumulated arrears have weakened district development financing and disrupted projects meant to improve living conditions in communities.
He further argued that some payments made in recent years were largely the settlement of old debts rather than funding for new or ongoing projects, a situation he believes has affected contractor confidence and local economic activity.
He described the issue as more than a budgetary challenge, characterising it as a development emergency and a governance concern.
He therefore urged the appropriate authorities to pay outstanding DACF arrears, settle contractors who have completed their work, and ensure that transfers to districts are automatic and predictable.
He maintained that decentralisation can only succeed when district assemblies receive adequate and timely funding to carry out development projects.
He emphasised that stalled projects directly affect ordinary citizens, since they rely on such infrastructure for education, healthcare, transportation, sanitation, and economic activities.
He called for renewed attention to grassroots development, insisting that national progress should not be concentrated only in major cities but extended to all communities.
By: Jacob Aggrey
