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Minority urges BoG to channel part of sterilized funds into VCTF
The Minority has called on the Bank of Ghana (BoG) to channel part of the 60 billion cedis it has sterilized into the Venture Capital Trust Fund (VCTF) to support young entrepreneurs and businesses.
The Ranking Member on the Economy Committee in Parliament, Kojo Oppong Nkrumah, said the Central Bank admitted to mopping up over 60 billion cedis from the economy since January this year as part of measures to reduce inflation.
He explained that the sterilization programme was meant to control excess liquidity by withdrawing money from circulation.
However, he noted that while this may slow down demand and price increases, it also locks up huge sums of money that could otherwise support economic growth.
According to him, channeling part of the funds into the VCTF would provide equity support for young people and businesses with viable ideas.
Unlike bank loans, he saidthe VCTF offers equity investment without interest, making it easier for entrepreneurs to access capital.
Mr. Oppong Nkrumah maintained that investing sterilized funds in the VCTF and even in the stock market would help expand businesses, create jobs, and support innovation.
He urged government to consider this alternative strategy rather than relying only on the traditional approach of mopping up money to fight inflation.
By: Jacob Aggrey
President John Dramani Mahama has cautioned that the rapid growth of Artificial Intelligence (AI) could worsen the spread of misinformation across the world if not managed responsibly.
Speaking at the International Conference on Information Integrity in Paris, the President said AI tools such as deepfakes and synthetic media are increasingly being used to manipulate information and distort public perception.
He warned that the misuse of AI poses a serious threat to democracy, public health, and global stability, adding that protecting information integrity must be treated with the same urgency as national security and economic development.
“We are back to win the global war against misinformation and disinformation. Disinformation is not an abstract issue, it shapes elections, distorts public health responses, fuels conflict, and undermines the fight against climate change,” he pointed out.
President Mahama said false information continues to erode public confidence in science and government policy, even a decade after the signing of the Paris Climate Accord.
He noted that while AI presents huge opportunities for innovation and growth, it must be used responsibly to ensure that technological progress builds, rather than destroys, public trust.
“Our collective task must be to harness AI responsibly, promote transparency, and ensure that technology strengthens, not weakens, our societies,” he said.
The conference brought together world leaders, media experts, and technology innovators to discuss ways to protect information integrity and strengthen democracy in the digital age.
By: Jacob Aggrey
The Kumasi Metropolitan Assembly (KMA) has announced a city-wide clean-up exercise scheduled for Saturday, November 1, 2025, as part of efforts to promote cleanliness and public health in the metropolis.
The exercise, which starts at 6:00 a.m., forms part of the government’s vision to undertake monthly nationwide clean-up activities.
It is expected to bring together residents, traders, and transport operators to help make Kumasi cleaner and more environmentally friendly.
According to the Assembly, the clean-up will focus on key parts of the Central Business District and surrounding areas.
The operational zones include Zoo Roundabout through Pampaso to Otumfuo Roundabout, Otumfuo Roundabout through Acheamfour Market, MTN Roundabout to St. Louis College, Otumfuo Roundabout to Dr. Mensah, Boss FM through Central Market, Asafo Interchange, and Asafo Market stretch, as well as Roman Hill Down through Aboabo Station to Alabar.
During the exercise, all trading activities and vehicular movement within these areas will be suspended to ensure smooth operations.
The KMA urged all traders, commercial drivers, and residents to comply with the directive and actively take part in cleaning their surroundings.
The Assembly announced that if traders and shop owners participate fully, the exercise will end at 11:00 a.m.
However, those who fail to take part will have their shops and trading activities remain closed until 2:00 p.m.
By: Jacob Aggrey
