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Minority urges BoG to channel part of sterilized funds into VCTF
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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
Senior Lecturer at the University of Ghana’s Department of Political Science, Dr. Joshua Jebuntie Zaato says the imprisonment of the Ashanti Regional Chairman of the New Patriotic Party (NPP), Bernard Antwi Boasiako, popularly known as Chairman Wontumi, will have little meaning unless it leads to a broader crackdown on illegal mining.
In a post on his Facebook page on the July 21, 2026, Dr. Zaato said the judgment should mark the beginning of efforts to completely eradicate galamsey and hold all those involved accountable, regardless of their political affiliation.
He said the country must work towards restoring polluted rivers, protecting forests and ensuring that people implicated in illegal mining activities are prosecuted.
According to him, those the President has publicly acknowledged to be involved in galamsey should face prosecution.
He called for the prosecution of district chief executives (DCEs), members of Parliament (MPs) and senior political party officials who have been accused of engaging in or supporting illegal mining.
Dr. Zaato further urged the government to take decisive action to end the destruction of the country’s forests caused by galamsey.
He maintained that the imprisonment of Chairman Wontumi would only have a lasting impact if it results in a comprehensive and impartial fight against illegal mining across the country.
By: Jacob Aggrey
The Government of Ghana has expressed profound sadness over the passing of His Majesty Yaa Naa Abukari Mahama II, King of Dagbon.
In a statement issued on Monday, President John Dramani Mahama, on behalf of the Government, extended his deepest condolences to the Royal Family, the people of Dagbon, and the entire nation.
“The Government of Ghana has received with profound sadness the news of the passing of His Majesty Yaa Naa Abukari Mahama II,” the statement said.
President Mahama described the late King as a distinguished traditional ruler whose reign was defined by healing, reconciliation, and lasting peace in Dagbon following years of conflict.
The statement noted that His Majesty’s “unwavering commitment to unity, stability, and the welfare of his people created an enabling environment for development”and strengthened the partnership between traditional authorities and Government in advancing progress across Dagbon and Ghana.
The Government paid tribute to the life and legacy of Yaa Naa Abukari Mahama II, and honoured his invaluable service to the nation.
“May his wisdom, leadership, and dedication to peace continue to inspire future generations. May his soul rest in perfect peace,” the statement concluded.
The passing of Yaa Naa Abukari Mahama II marks the end of an era for Dagbon, which saw significant strides in unity and development under his leadership.
By Edem Mensah-Tsotorme
