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“Gold board is a game changer for Ghana’s economy” – Deputy majority leader boldly asserts
Deputy Majority Leader and Member of Parliament for Cape Coast South, George Kweku Ricketts-Hagan, has described the newly established Gold Board as a major turning point for Ghana’s economy.
Speaking on the floor of Parliament, the MP said Ghana is finally beginning to take bold steps to fix its economy after years of financial struggles.
According to him, Ghana has been producing gold for decades, yet it has not built strong reserves like countries that do not even mine gold.
He noted that such countries are now lending money to Ghana, which shows how poorly the country has managed its natural resources in the past.
“For 70 years, we’ve never backed our economy with gold reserves. Countries that don’t mine gold have reserves in their central banks, but we, who produce gold, don’t. This is the change the Gold Board brings,” he said.
Mr. Ricketts-Hagan praised the efforts of President John Dramani Mahama and the finance minister, Dr. Cassiel Ato Forson, saying they were helping to reset the economy and fix past mistakes.
He explained that the recent strengthening of the Ghana cedi is a sign that the economy is being fixed.
“When you hear people say the cedi is strong and you don’t understand why, go to the Ministry of Finance and ask,” he said.
The MP also criticized members of the previous administration, accusing them of doing little during their time in office.
“They were in government for eight years and achieved so little. That’s why Ghanaians showed them the exit,” he stated.
Mr. Ricketts-Hagan ended his remarks by urging the opposition to accept that the economy has changed.
He said the days of poor economic management were over and that Ghana was on a new path of recovery and stability.
“This is not just talk. Things have truly changed. The Gold Board is helping us reset the economy, and it’s never going back to what it used to be,” he confidently stated.
The Gold Board was set up as part of efforts to improve the management of Ghana’s gold resources and strengthen the country’s economic foundation.
Minister for Government Communications, Felix Ofosu Kwakye, has dismissed claims that staff salaries at the Presidency have increased under the current administration, describing the allegation as a “flat lie”.
In a response to a post on Facebook, Ofosu Kwakye said the current staff at the Presidency inherited the same salaries and conditions approved for their predecessors.
He argued that once arrears owed to former Article 71 office holders are paid, the total wage bill for the current administration will actually be lower due to a reduction in staff numbers.
“It is in fact a mathematical certainty that the total amount paid in salaries to the current staff will be smaller compared to yours once your arrears are paid because of the reduction in numbers,” he stated.
The Minister noted that delays in paying arrears to past Article 71 office holders are not new.
“Arrears owed to past Article 71 office holders is nothing new or unheard of. Many others before you have suffered same,” he said.
Ofosu Kwakye also stressed that the salaries and conditions in question were approved by Parliament on 6th January 2025, under the previous government.
He pointed out that the Constitution bars any changes to those salaries until a new committee is set up to determine emoluments for Article 71 office holders under the new administration.
“No such committee has been set up by President Mahama and no alteration has been made,” he clarified.
“So on what basis, apart from pure lies and mischief, can a claim of ballooning be made?” he concluded.
The response follows public debate over the size and cost of the presidential staff, with critics alleging a spike in the wage bill.
By Edem Mensah-Tsotorme
Bernard Antwi Boasiako, popularly known as Chairman Wontumi and the Ashanti Regional Chairman of the New Patriotic Party, has initiated plea negotiations with the Attorney General’s office in the GH₵30 million Exim Bank fraud case.
Information available to ghanaiantimes.com.gh indicates that lawyers for Bernard Antwi Boasiako aka Chairman Wontumi & 2 other accused have formally written to the Attorney General to enter into plea negotiations on the charges of defrauding by false pretenses, money laundering, and intentionally causing financial loss to a public body.
A plea bargain, under Section 162C of the Criminal and Other Offences (Procedure) (Amendment) Act, 2022 (Act 1079), allows an accused person to plead guilty to lesser charges in exchange for a reduced sentence.
The agreement must be approved by the court after the Attorney General assesses factors such as the strength of evidence, recovery of state funds, and public interest.
Wontumi is facing four counts after his arrest by the Economic and Organised Crime Office in May 2025.
Prosecutors allege he used forged documents to secure a GH₵30 million facility from the Ghana Export-Import Bank to finance equipment for his mining company, Akonta Mining Ltd.
The state further charges him with money laundering and causing financial loss to the state.
He has pleaded not guilty to all charges and was granted GH₵50 million bail with two sureties. The case is currently before the Accra High Court.
The Attorney General’s office is yet to confirm whether negotiations will proceed.
By Edem Mensah-Tsotorme
