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The Richard Quaye foundation honors its promise of free seed capital to 10 lucky entrepreneurs

It was all joy as 10 entrepreneurs boldly and with all smiles walked away with GH₵25,000 cedis each from the Richard Quaye foundation free seed capital challenge.
After weeks of going through over 1200 entries, 40 candidates were selected and screened to 17 finalists of which 10 winners emerged. The 10 winners were from diverse industries from food processing to software development, farms, eater on wheels to fashion, plastic waste recycling, to technology among others.
Winners on the 21st gathered at the Quick Angels premises and had a round table discussion with the founder and CEO of Quick Angels Limited and the man behind the Richard Quaye Foundation Initiative Mr. Richard Nii Armah Quaye.



He interacted with the 10 winners on the essence of the seed capital and advised them on financial management and discipline as some of the major keys in winning the entrepreneurship journey.
The winners were full praise for this gesture.
They asked for periodic mentorship which was granted to them as per an open-door policy for all.
The winners took turns taking their cash cheques. There was a lot to eat and drink and network. Richard Quaye Foundation is an established Social Responsibility foundation incorporated on 7th February 2020.
A Ghanaian wholly owns the Foundation to support deprived Communities in Ghana and beyond.
The foundation seeks to identify needy young Ghanaians in society and assist them through education,
training, and finance and equip them with entrepreneurial skills.
Innovation, creativity, community outreach, continuous training, and engagements will play a key role in
this regard
The vision of the foundation is to become a brand positioned to be changing lives in the “Ghanaian community by supporting deprived people in communities whiles our
the mission is to propel communities in Ghana into promising life-changing ones while positioning the Quick Brand through Richard Quaye Foundation as a caring one.
The foundation seeks to be the Centre of reference and reliance for the needy in Ghana and beyond.
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Attorney General charges Chairman Wontumi and two others over alleged GH¢18.7 million Ghana Exim Bank fraud

The Office of the Attorney General has charged Bernard Antwi-Boasiako, popularly known as Chairman Wontumi, and two others over the alleged fraudulent acquisition of funds from the Ghana Export-Import Bank for a farming project.
The charges were brought against Chairman Wontumi, Thomas Antwi-Boasiako, who is currently at large, and Wontumi Farms Limited.
According to court documents released by the Attorney General’s office, Chairman Wontumi, identified as the first accused person, allegedly approached the Ghana Exim Bank in January 2018 for financial support to undertake a large-scale farming project.
The prosecution said he applied for a GH¢19 million facility on behalf of Wontumi Farms Limited and claimed that the company had secured a 100,000-acre parcel of land for the proposed farming venture.
The Attorney General alleged that documents submitted together with the application contained false information.
According to the prosecution, one of the documents presented as a board resolution letter was dated January 23, 2018, but referred to a board resolution supposedly passed on December 9, 2017, four days before the company was officially incorporated on December 14, 2017.
The prosecution further stated that the accused persons also submitted a project proposal claiming that 2,500 hectares of the proposed farm would employ about 6,000 families, representing nearly 38,000 individuals.
Court documents indicate that the Ghana Exim Bank later approved an GH¢18.7 million facility made up of loans and grants for the project.
The facility was reportedly intended for the purchase of agricultural machinery, working capital, staff costs and consultancy services.
According to investigators, the bank disbursed more than GH¢14.3 million to the company between January and March 2018.
However, investigations by the Economic and Organised Crime Office of the Attorney General allegedly found that the proposed farming activities were never carried out.
The prosecution said the accused persons neither purchased the agricultural machinery nor secured the land they claimed to own for the project.
Investigators also alleged that Chairman Wontumi later submitted a document to the bank as proof that the company had purchased agricultural machinery worth GH¢4 million.
However, investigations reportedly established that the document was originally a pro-forma invoice from KAS-SAMA Enterprise and not an actual receipt.
According to the Attorney General’s office, the inscription “Pro-forma Invoice” was allegedly altered and replaced with the word “Receipt” before it was submitted to the bank.
The prosecution further alleged that Chairman Wontumi withdrew large sums from the company’s accounts and used the funds for personal expenses and investments in other businesses.
The Attorney General stated that attempts by the bank to recover the money were unsuccessful.
The Economic and Organised Crime Office reportedly began investigations into the matter in March 2025.
Chairman Wontumi was later arrested, cautioned and officially charged on May 14, 2026.
By: Jacob Aggrey
News
Communications Ministry dismisses claims of financial misconduct against Sam George

The Ministry of Communication, Digital Technology and Innovations has denied claims circulating on social media that the sector minister, Samuel Nartey George, has misused public funds.
In a statement issued to media houses, the Ministry explained that the document being shared online was part of an official request seeking Commitment Authorisation from the Ministry of Finance in line with public financial management and procurement procedures.
According to the Ministry, the request was based on budgetary allocations approved by Parliament for the 2026 fiscal year and covered planned projects, operational activities and programme interventions to be carried out within the year.
It stressed that the request has not yet received approval from the Ministry of Finance.
The Ministry therefore clarified that no funds have been released, disbursed or spent in relation to the items captured in the circulating document.
It described claims suggesting that public funds had already been squandered as “inaccurate, misleading and devoid of context.”
The statement urged the public to treat the allegations with caution and disregard what it described as false interpretations of the document.
The Ministry further reaffirmed its commitment to transparency, accountability and strict adherence to public financial management regulations in the execution of its duties.
By: Jacob Aggrey
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