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
Members of the Lions and Leo clubs have undertaken a month-long e-waste awareness campaign to mark Environment Month in April.
They comprise of the Tema Supreme Leo Club, Tema Supreme Lions Club, Kumasi Adehyee Leo Club, Accra Sankofa Leo Club, Regional Maritime University Leo Club and Koforidua UTech Leo Club under Lions Clubs International District 418, Ghana.
The initiative, which commenced on April 1, combined digital outreach with community engagement to highlight the risks associated with improper disposal of electronic waste.
As part of the exercise, organisers rolled out a sustained social media campaign on platforms including Facebook and Instagram, featuring educational videos, animations, photo stories, interactive content such as puzzles and riddles, and perspectives from device repairers.
An online Google meet forum was also organised, bringing together resource persons from various Lions and Leo Clubs to discuss the realities of e-waste and its implications for public health and the environment.
To conclude the campaign, participants visited the Agbogbloshie E-waste Site to engage workers and document conditions at the site.
The project, themed “From Waste to Worth: Rethinking E-Waste in Ghana,” provided a platform for interaction with scrap dealers and workers who depend on this informal recycling process for their livelihoods.
Discussions centred on the risks associated with current disposal practices, particularly the burning of electronic materials, the risk of working without protective boots, hand gloves and masks which poses serious health and environmental concerns.
Project Lead, Leo Priscilla Ofei-Mensah, said the initiative aimed to deepen understanding and promote responsible practices and later provide some working essentials and training on safe recycling processes.
“Impact happens when we understand the problem. When people are aware of the dangers, they can make safer choices for themselves, their families and their communities,” she stated.
Agbogbloshie is one of the country’s major informal processing centres for discarded electronic devices, where materials such as copper and aluminium are recovered. While the activity provides a source of income, it also exposes workers and nearby residents to hazardous substances.
During interactions with the workers, many indicated that economic hardship and limited employment opportunities had led them into the trade.
She noted that the exercise forms part of a broader environmental focus and represents the beginning of sustained efforts to address the e-waste challenge.
She indicated that future interventions would promote safer alternatives that support livelihoods while improving environmental and health conditions.
Partner organisations also contributed to the initiative.
Creative Director at Inkspire Creative Studio, Alexander Annan highlighted the need for responsible management of electronic devices.
In addition, founder for Smiles in Colour, Mercy Peprah Asare drew attention to the health risks, particularly among children in affected communities.
We Communicate Impact handled documentation and storytelling, while Samrich Photography Foundation supported the production process and facilitated youth participation in a photography training initiative.
The team at the end of the activity expressed optimism that the campaign would encourage individuals and institutions to adopt more responsible approaches to electronic waste management. A documentary capturing conditions at the site is expected to be released.
By: Jacob Aggrey
The Bono East Regional Police Command has arrested two men for possessing suspected narcotic drugs without lawful authority following a patrol operation at Kintampo.
In a press release dated April 27, 2026, the police said the suspects, identified as Sadic Wemah, 42, and Senbeti Karim, 39, were arrested on April 26 at about 12:40 p.m.
According to the statement, a patrol team from the New Longoro Police Station intercepted an unregistered white Toyota Highlander on the Kintampo–New Longoro road. The vehicle, which was coming from the Kintampo direction, was searched by officers.
Police said the search uncovered two sacks containing 166 parcels of dried plant material suspected to be cannabis.
The suspects were arrested at the scene and taken to the Kintampo Divisional Criminal Investigations Department for further investigations. During interrogation, they admitted the substance was cannabis and claimed ownership, the police said.
The statement added that the suspects told investigators they bought the substance from a man identified only as Edem, also known as “Confirm,” who allegedly transports cannabis from the Volta Region through Tamale.
They further indicated that they received the drugs at a filling station near the new market in Kintampo and intended to transport them to Banda Nkwanta in the Bono Region for sale.
Police estimated the street value of the seized substance at about GH¢107,000.
The suspects are currently in police custody assisting with investigations, while the exhibits, including the suspected cannabis and the vehicle, have been retained for evidential purposes.
The Bono East Regional Police Command said it remains committed to fighting drug trafficking and related crimes.
It assured the public that efforts are underway to arrest other persons linked to the case, including the said Edem.
By: Jacob Aggrey
