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Whoever created BoG’s GH₵53bn negative equity mess should be held responsible – Dr. Atuahene

Banking consultant Richmond Atuahene has called for accountability over the Bank of Ghana’s (BoG) GH₵53 billion negative equity, insisting that those responsible for the mess must be held accountable.

In an interview on Joy FM’s Midday News on Wednesday, March 12, he called for those responsible for breaching financial regulations to be summoned before Parliament to explain their actions.

“There was a law that stated they should not exceed a 5% fiscal financing threshold, yet they went as high as 60%. This is a clear violation, and they cannot claim ignorance. The Governor, the Minister, and those involved must be held accountable for their actions,” he asserted

His comment comes after the Finance Minister, Dr. Cassiel Ato Forson, advised BoG to explore internal cost-cutting measures instead of relying on taxpayer funds for a GH₵53 billion bailout to address its negative equity position.

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Dr. Atuahene supported the Finance Minister’s stance that the government cannot afford to recapitalise the central bank at this time, given the nation’s fiscal constraints.

“Like the Minister said, you don’t create a mess and leave it for others to clean up. Whoever created this mess must take personal responsibility. When they engaged in the monetisation of fiscal deficits in 2021 and 2022, some of us warned them about the consequences, but they didn’t listen,” he stated.

Dr. Atuahene stressed that rather than relying on external funding, the Bank of Ghana should explore internal restructuring, cost-cutting, and asset sales, including a sale-leaseback arrangement on some of its properties, to raise the necessary capital.

He also highlighted the potential damage to Ghana’s international credibility if the Bank of Ghana remains in a financially distressed position.

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“This affects Ghana’s credibility. BoG has correspondent relationships with the Bank of England, the Federal Reserve, and the African Development Bank. If it continues to operate in a capital-deficient state, international institutions may lose confidence in our financial system,” he warned.

Dr. Atuahene also criticised the central bank for insisting that it is “policy solvent,” arguing that capital solvency is more critical in this situation.

“You can claim policy solvency all you want, but if you are capital insolvent, it means you cannot function properly. BoG has been making losses year after year. They made losses in 2023, and they are making losses in 2024. How long will this continue?” he questioned.

Source: Myjoyonline.com

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Prioritise affordable treatment of sickle cell treatment —Health Expert

Dr Lawrence Osei-Tutu
Dr Lawrence Osei-Tutu

 Health experts have urged Ghana to prior­itise affordable and accessible treatment for sickle cell disease (SCD) as advanced, but costly cura­tive therapies remain out of reach.

SCD, an inherited blood disorder, affects about three in every 100 newborns in Ghana.

Globally, around 1,000 ba­bies are born with the condi­tion daily, with three-quar­ters in sub-Saharan Africa.

The disease causes se­vere complications includ­ing chronic pain, anaemia, infections, strokes and organ damage, often leading to shortened life expectancy.

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In recent years, gene ther­apy has been developed as a potential cure.

However, its cost—running into millions of dollars per patient—makes it financially and technically inaccessible in Ghana.

According to Dr Lawrence Osei-Tutu, a Sickle Cell and Childhood Cancer Expert at the Komfo Anokye Teaching Hospital, “the country must instead focus on practical, lower-cost interventions such as hydroxyurea”, a decades-old cancer drug proven to reduce painful episodes, hospitalisation and life- threatening complica­tions in SCD patients”.

Taken orally, the medi­cine improves red blood cell function and is considered safe and effective.

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“Hydroxyurea therapy is as good as the cure and a low-hanging fruit to pluck, we must bring a cure to our sickle cell warriors, but do so sustainably.” he urged.

In a chat with The Specta­tor here, he said to create awareness on the disease, the expert noted that de­spite its benefits, “hydroxy­urea is not widely accessible in Ghana.”

Stressing that, “many patients either cannot afford it or struggle with irregular supply through the health system.”

Moreover, he argued that scaling up access would pro­vide immediate relief while the country builds the infra­structure, trains specialists and secures funding needed to support curative therapies in the future.

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With an estimated 15,000 babies born with sickle cell disease annually in Ghana, Dr Osei Tutu cautioned that “failure to improve access to effective treatment will leave many patients vulnera­ble to preventable complica­tions and early death.”

 From Kingsley E. Hope, Kumasi


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Let’s reintroduce Cultural Studies to complement educational reforms  — Tourism Minister

Madam Abla Dzifa Gomashie

Madam Abla Dzifa Gomashie, the Minister of Tourism, Culture and Creative Arts, has empha­sised the importance of reintroducing Cultural Studies in schools as part of Ghana’s broader educational reform agenda.

She said Cultural Studies would complement existing efforts to reposi­tion Science, Technology, Engineering and Mathematics (STEM) and Technical Vocational Education and Training (TVET) to promote digital literacy and expand Creative Arts education.

Speaking at the 2025 Homowo Festi­val of the people of Ningo-Prampram, held on the theme: “Education: The Best Legacy for our Children,” Mad­am Gomashie said cultural education was critical to national identity and development.

She noted that the festival’s theme aligned with the Government’s vision to transform education in Ghana and encouraged the youth to embrace it not only as a means of personal devel­opment but also as a way of preserv­ing traditional values.

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These values, including patience, wisdom, and hard work, were at the core of the Homowo celebration, the Minister said.

“Cultural festivals like Homowo are vital instruments for strengthening cultural identity, preserving historical memory, and fostering national unity. Additionally, festivals serve as plat­forms for educating the youth through storytelling, music, dance, and other traditional practices, while also pro­viding opportunities for community engagement.”

Madam Gomashie highlighted the strong foundation that Ghana’s tourism was built on, which included culture, traditions, and the creative industry, collectively contributing to over GH¢4.8 billion to the economy.

“Festivals give tourists reasons to visit our country. Therefore, with the right infrastructure and the develop­ment of all the domains, the sector can do more than what has been recorded,” she added.

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Mr Sam Nartey George, the Member of Parliament for Ningo-Prampram and Minister of Communication, Digital Technology and Innovation, commend­ed the community for their vibrant participation in the festival. He announced plans for the construction of a new nursing training school in Ningo, aimed at expanding access to healthcare education in the area.

Nene Osroagbo Djangmah XII, Par­amount Chief of Great Ningo Tradi­tional Area; King Dr Tackie Teiko Tsuru II, Ga Mantse; Nene Tetteh Wakah III, Paramount Chief of the Prampram Traditional Area; Prof. Odaifio Welen­tsi III, Paramount Chief of the Nungua Traditional Area; Naana Dugbakuwor Dugba II, Paramount Queen Mother of Great Ningo; and Mr. Elvis Afriyie Ankrah, Special Envoy on Religion and Inter-Faith Affairs, who represented the Chief of Staff, were among digni­taries at the festival. -GNA

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