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Cedi Appreciation: Electroland Ghana heed to government’s appeal to reduce prices

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Electroland Ghana Limited (EGL)has heeded to an appeal by the government to businesses to reduce prices of their products.

This call by the government follows the recent appreciation of Ghana’s currency against other major trading currencies.

Against this backdrop, EGL in a press conference of Monday, May 19, 2025, announced a reduction in their prices.

Speaking to the media on Monday, May 19, 2025, Head of Marketing and Media Relations, Electroland Ghana, Adiza Ibrahim said, the move was in line with the recent booming of the Ghanaian economy, coupled with the appreciation of the Ghana Cedi against other foreign currencies.

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According to her, their price reduction was in line with the government’s appeal to businesses in Ghana to reduce their prices due to the current appreciation of the Ghanaian currency.

” Electroland Ghana Ltd. is glad to announce gargantuan reductions on all our prices,” she revealed.

She stressed that Electroland Ghana believes their customers are shareholders in their business, thus they should celebrate the cedi appreciation with them.

“Cedi Apiki Promo offers sensational price reductions as well as freebies on our products.We are committed to ensuring that our customers enjoy the best prices on electronic appliances,”she revealed.

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By Edem Mensah-Tsotorme

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GoldBod changes gold testing rules for local purchases from October 1

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The Ghana Gold Board (GoldBod) has announced changes to how the purity of gold will be tested for local purchases, with the new rules taking effect from October 1, 2026.

The notice was issued today by the Compliance Directorate of the Ghana Gold Board.

Under the new arrangement, the Water Density method will only be used to give an indication of the purity of gold and will no longer serve as the final basis for determining its purity, price or payment.

In a compliance notice issued on September 28, GoldBod said X-Ray Fluorescence (XRF) testing would become the definitive method for determining the purity of gold doré purchased by the Board and its licensed buyers.

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It explained that the applicable payment for gold would therefore be based on the purity determined through the XRF method.

However, GoldBod said where a licensed buyer is unable to use XRF due to genuine operational or logistical challenges, or where both the buyer and seller voluntarily agree to use the Water Density method, the gold would be purchased at a 0.7 percent purity discount.

The Board introduced a tolerance level for differences between successive XRF test results for the same gold or transaction.

According to the notice, the permissible difference between one XRF report and another must remain within plus or minus 0.1 percent.

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GoldBod said any difference beyond that range would have to be verified before the transaction is completed or reported to the Board.

The new requirements apply to all aggregators and licensed gold buyers, who have been directed to ensure that they are fully prepared to comply with the changes by October 1.

GoldBod said the notice forms part of the terms and conditions of licences issued to aggregators and licensed gold buyers.

It warned that failure to comply with the new requirements would constitute a breach of the applicable licence conditions and could result in regulatory or enforcement action under the Ghana Gold Board Act, 2025 (Act 1140).

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By: Jacob Aggrey

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Manasseh Azure Awuni slams SA returnees over resettlement complaints

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Investigative journalist Manasseh Azure Awuni has waded into the debate over government support for Ghanaian evacuees, describing complaints over the amount given as “nauseating entitlement.”

In a strongly worded post shared on Facebook, Manasseh argued that Ghanaians who were airlifted from South Africa after xenophobic threats should show gratitude rather than discontent.

“Some countries abandoned their people because they either did not care enough or they did not think it was economically wise to spend huge sums of money chartering planes and evacuating their people. Your country did not abandon you. It chartered aircraft and lifted you,” he wrote.

According to him, government spent huge sums to bring citizens home at a time when the country has pressing needs that could have been addressed with that money, but no one complained because “your life as a citizen is just as pressing.”

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Manasseh said it was therefore worrying that after the evacuation and subsequent financial support from the state, some beneficiaries are complaining that the amount is not enough.

“Sir, some people need only 2000 cedis to start a business, but the state has not given them anything. Others worked and paid taxes while you were away, but have not received a pesewa from the state. Think about that,” he stated.

He added that while the frustration of losing opportunities abroad is understandable, the evacuation was not forced but was done to save lives.

He added that “We can sympathise with whatever opportunities you may have lost by returning home, but note that the government did not forcibly evacuate you. Your safety was paramount. You could have lost your life if the government had abandoned you.”

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Manasseh warned that such complaints only fuel negativity in the political space.

“Your complaints will please a section of our society that lives in perpetual search of negativity with which to score cheap political points. But to the discerning people, it is a nauseating sense of entitlement,” he stressed.

He concluded with a call for appreciation “And whatever you have been given to ease your return is an added bonus. Appreciate it and pray for more. There’s a vast difference between a favour and an entitlement.”

By Edem Mensah-Tsotorme

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