News
Govt releases GH₵700m to customers of collapsed fund management companies
The Minister for Finance, Dr. Mohammed Amin Adam, has announced the release of GH₵700 million to customers whose funds have been locked up in various fund management companies.
This amount represents the first tranche of a GH₵1.5 billion allocation, as outlined in the 2024 mid-year budget review, which is aimed at providing relief to individuals affected by the collapse of these fund management companies.
Speaking during a monthly economic update at the Finance Ministry on August 29, Dr. Amin Adam confirmed that the payments will be made in three tranches.
According to him,“We had indicated in the 2024 mid-year review of fiscal policy that the government has approved the disbursement of an additional GH₵1.5 billion to provide relief and bailout to people whose funds have been locked up in fund management companies.”
The Minister further explained that the first tranche of GH₵700 million has been processed and released to the Securities and Exchange Commission for further distribution to affected customers.
The remaining 800 million Ghana cedis will be released in two subsequent tranches.
Dr. Amin Adam emphasised that the release of funds is intended to mitigate the stress on affected individuals and provide much-needed relief.
He said, “I’m glad to inform you that the Ministry of Finance has processed the release for the first tranche of 700million Ghana cedis of the additional GH₵1.5 billion for the Security and Exchange Commission to further bail out the remaining customers whose funds were locked up including Black Shield Funds Management customers.”
“Yesterday, I instructed the Controller and Accountant General to release the funds to mitigate the stress on affected persons. The 1.5 billion cedis will be released in three tranches,” he concluded.
Source: Citinewsroom.com
News
President John Dramani Mahama to kick off 2025/26 Premier League season in Accra
The 2025/26 Premier League will officially kick off on Friday, September 12, 2025, at the Accra Sports Stadium, with the President of the Republic, John Dramani Mahama, performing the ceremonial kick-off ahead of the season opener between Accra Hearts of Oak and league debutants Hohoe United.
President Mahama will be joined by Football Association President Kurt Edwin Simeon-Okraku, members of the Executive Council and football fans from across the capital as the curtain rises on what promises to be one of the most exciting campaigns in recent years.
Giants Hearts of Oak will open their quest for a league title when they take on newly promoted Hohoe United under the floodlights of the Accra Sports Stadium. Kick-off is scheduled for 7:00 pm local time (19:00 GMT).
The Phobians, bolstered by new signings and a strong pre-season campaign, are eager to end a four-year run without an opening-day victory, while United will be aiming to make a statement in their first-ever top-flight match.
Before the main fixture, there will be a curtain-raiser between the Black Starlets (Ghana U-17) and Auroras FC, the youth side of Hearts of Oak, at 4:00 pm local time.
Adding to the celebratory atmosphere, top Afro-dancehall and reggae musician Stonebwoy (Livingstone Etse Satekla) will deliver a live performance at the venue, ensuring fans enjoy not only football but also top-class entertainment on opening night.
This season is expected to be one of the most competitive in recent memory, with traditional heavyweights, ambitious newcomers and revitalized clubs all targeting glory. From title races to survival battles, fans are set for months of excitement, drama and unforgettable moments.
News
GES opens promotion applications for teaching staff
The Ghana Education Service (GES) has invited applications from qualified teachers and officers for promotion to higher ranks within the service.
In a notice signed by the Acting Deputy Director-General for Management Services, Prof. Smile Dzisi, the GES said the ranks available are Deputy Director, Assistant Director I, Assistant Director II and Principal Superintendent.
According to the statement, applicants must meet the minimum years of service required for each position.
Teachers seeking promotion to Deputy Director must have been promoted to Assistant Director I in or before 2021.
Similarly, those applying for Assistant Director I should have held the rank of Assistant Director II since 2021 or earlier.
Applicants for Assistant Director II must have been Principal Superintendents from 2021 or earlier, while those applying for Principal Superintendent must have been Senior Superintendent I since 2021 or before.
The GES stated that teachers with approved Master’s or PhD degrees may use their certificates to apply for promotion out of turn if the qualifications meet set conditions.
These include completing an approved course of study and obtaining the certificate after their previous promotion but not later than 2023.
Applicants are to complete the online application form and upload all required documents in PDF format, except for the passport-size photograph.
The application window runs from Thursday, September 11, to Thursday, October 2, 2025. The GES urged all applicants who had applied earlier to re-apply.
By: Jacob Aggrey
