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
The Ghana Tourism Development Company, GTDC, under the leadership of Prof.Kobby Mensah has launched GTDC Campus Tourism Office at the University of Ghana.
The initiative aims to promote educational and domestic tourism by providing structured campus tour experiences showcasing key heritage sites, including the Archaeology Museum and the School of Performing Arts.
It will also offer students their first travel experience across the continent and inculcate in them love to visit Ghana’s heritage sites.
Addressing the gathering at the launch yesterday, the Minister of Tourism, Culture and Creative Arts, Abla Dzifa Gomashie, described tourism as a vehicle for education and heritage preservation, stressing that the sector must inspire citizens to value and protect national culture for future generations.
The minister highlighted tourism’s connection to disciplines such as history, the arts, economics and environmental science.
The minister further noted that the private sector is the engine of tourism economy, adding that the engines require fuel, which is talents.” by investing in these young people today, you are securing the quality, the innovation and competitiveness of our own industry for tomorrow.
She added that the establishment of the office represents a deliberate investment in the intellectual capital of the country.
The GTDC boss, Prof.Kobby Mensah, said,”at GTDC, we believe that if our tourism has to be sustainable, we have to promote domestic tourism and a very big part of it is getting students to appreciate tourism and helping them to organise tours.”
He added that the University of Ghana itself is a huge heritage site which must be explored.
Prof.Kobby Mensah noted that the initiative, which is one of many to be established across the country, is a joint partnership between GTDC and University of Ghana.
The Vice Chancellor of the University, Prof.Nana Aba Appiah Amfo, said the University is a custodian of heritage which goes beyond the structures and welcomed the establishment of the first Campus Tourism Office.
She was optimistic that the office would be put to good use to achieve the intended purpose.
The launch brought together Stakeholders reaffirming their commitment to nurturing future tourism and hospitality professionals.
By Edem Mensah-Tsotorme
Ghana has officially accepted an invitation to serve as Guest Country at Burkina Faso’s 22nd National Culture Week in Bobo-Dioulasso from April 22 to May 2, 2026.
The invitation was extended by Burkina Faso’s Minister of Communication, Culture, Arts and Tourism, Gilbert Noël Ouédraogo, accompanied by the Ambassador of Burkina Faso to Ghana, H.E. David Kabré.
Receiving the delegation, Abla Dzifa Gomashie reaffirmed Ghana’s commitment to deepening cultural diplomacy and strengthening historic ties between the two nations.
She noted that the festival will create opportunities for young creatives, expand exhibition platforms and promote commercial exchange within the creative sector.
The event will feature cultural performances, a community village and gastronomy fair, an arts market, literary engagements, and a craft and trade fair.
Ghana’s participation is expected to further strengthen bilateral relations between John Dramani Mahama and Ibrahim Traoré, while fostering collaboration within the creative ecosystems of both countries.
