All is set for the presentation of Ghana’s budget statement and economic policy by the Finance Minister,  Cassiel Ato Forson to Parliament today. 

This would be the new government’s maiden budget since ascending to the throne in January.

Ghanaians are highly optimistic that the budget would go a long way to cushion people.

They are expecting that the National Democratic Congress (NDC) government will keep it promise and remove the E-levy, Betting Tax, and COVID-19 levy among other tax cuts.

Additional,  it is expected that some measures will be introduced to stabilise the local currency and some prudent ways to ensure food security to reduce food inflation.

Ahead of that the Finance Minister has organised national economic dialogue,  engageg over 60,000 youths on X,  and market women among others to seek their views.

By Edem Mensah-Tsotorme 

The new Governor of the Bank of Ghana (BoG), Dr Johnson Pandit Asiama, has revealed that the state under the previous Nana Akufo-Addo administration has paid $230 million to the contractor working on the new BoG building project, with an outstanding balance of $31.8 million still owed to the construction firm.

He disclosed that the total cost of the project has risen to $261.8 million, with the payments to the contractor being made as recently as February this year.

“As of February this year, a total of approximately $230 million has been paid towards the project, with an outstanding balance of $31.8 million still due to the contractor,” he stated in parliament on Wednesday, March 5.

Dr Asiama also noted that an additional $48.3 million has been paid in taxes and levies associated with the construction of the building.

In addition to the main building, Dr Asiama explained that several other facilities were part of the project, including an Integrated Communication and Computing (ICC) system and Network Infrastructure, which cost $8.6 million.

Other expenditures included integrated electronic security systems at $15.8 million and furniture and furnishings, which amounted to $11.1 million.

He emphasised that these investments are aimed at ensuring the Bank of Ghana operates in a secure and technologically advanced environment, in line with the needs of a modern central bank.

In November 2024, former President Nana Akufo-Addo officially inaugurated the facility to serve as the new headquarters of BoG.

The state-of-the-art facility designed to symbolise financial strength and modernity is situated in the heart of the national capital.

The new facility marked a historic milestone in the evolution of the country’s central bank, which has been a pillar of the nation’s economic independence since its establishment in 1957.

Source: Myjoyonline.com

By 2050 nearly a quarter of the world’s population–about 2.5 billion people–will live in Africa. This young, energetic population is a tremendous engine of economic and social mobility, but this progress is threatened by an unlikely source; food loss.

In Ghana alone, as much as 45 percent of fruits and vegetables are wasted, according to a 2019 Mckinsey Report.

 That’s enough to feed an additional 12 million people, without clearing a single acre of new farmland or using an additional drop of water. Globally, post-harvest loss accounts for 14 percent of total food production, about 180 million tons annually.

Wasted food is wasted potential. The World Food Program estimates that 23 million.

African children attend school hungry. Children with empty stomachs struggle to

concentrate, and underperform.

For Africa to be competitive globally, all of its children must achieve their full potential, and this goal cannot be reached when students are hungry.

Tackling hunger in Africa by tackling post-harvest loss is a uniquely solvable problem.

Post-harvest loss occurs at staggering rates because in many countries perishables

travel long distances from agricultural areas to population centers, where buyers live.

Without the aid of refrigeration, agricultural goods, fruits and vegetables, but also dairy milk and fish, spoil before they can be sold. Not only does post-harvest loss reduce available food, it drives up the cost of the food that remains.

Yet cold chain logistics can also serve as the conduit for commerce. Once linkages are made between producers and buyers, these channels can be leveraged to provide all manner of products – from vegetables to vaccines.

Not only has this, but also returns afforded by effective distribution created value that can catalyze a journey up the value chain for the food producers. Global dairy company Arla, harnessed its origins as an agricultural cooperative, comprising groups of small dairy farmers in Denmark, to today becoming one of the world’s leading fast moving consumer packaged goods companies.

Similarly in South Africa FMCG behemoths, Pioneer Foods and Rhodes Food Group evolved from the amalgamation of farming cooperatives that then expanded their operations to a wide range of products like fruit juices, canned products, jams and convenience meals. Africa’s demographic dividend is not a given; it’s a potential that must be nurtured.

By ensuring food security through innovative solutions like cold chain logistics, we can cultivate a generation ready to seize opportunities and drive Africa’s transformation.

The writer is a Board Member, Global Cold Chain Foundation and

CEO, FreezeLink

Aretha Forson: KIC start-up promoting sustainability in haircare industry

Kosmos Innovation Center (KIC) continues to drive innovation and sustainability by supporting ground-breaking businesses, and one such success story is Aretha Wear It Out.

The plant-based haircare brand is making a significant impact in the beauty industry by catering to individuals with textured hair using natural, eco-friendly ingredients.

Plant-Based Solutions for Haircare

One of the company’s brands, Aretha Wear It Out specializes in haircare solutions derived from nuts, seed oils, and natural herbs to address common hair health challenges. With a product line of six sustainably produced items, the brand focuses on nourishing and strengthening textured hair while maintaining a commitment to sustainability.

Speaking about the brand’s mission, Co-founder Aretha Forson stated, “Aretha is redefining haircare for textured hair with plant-based solutions, sustainably crafted to preserve hair health and empower women.

With the support of Kosmos Innovation Center, we are growing a future rooted in sustainability and self-care.”

Commitment to Sustainability

Sustainability remains a key pillar of Aretha’s operations. The company prioritizes eco-friendly packaging and ensures that its production processes align with environmental consciousness. By integrating sustainability into its core values, Aretha is helping customers make responsible choices while maintaining healthy hair.

Through KIC’s funding and mentorship, Aretha has expanded its operations and refined its business model.

The support has enabled the company to scale its product line and strengthen its sustainability efforts. KIC continues to play a crucial role in nurturing young entrepreneurs in Ghana, helping them transform innovative ideas into successful businesses.

A Bright Future Ahead

Aretha’s vision extends beyond just providing haircare products; it aims to inspire self-care and confidence among individuals, particularly women. With its emphasis on sustainability and high-quality formulations, the brand is set to leave a lasting mark on the haircare industry.

Kosmos Innovation Center remains committed to empowering young entrepreneurs like Aretha Forson, ensuring that businesses can thrive while contributing to a more sustainable future.

Aretha Forson company is one of the winners of the 2024 KIC AgriTech Challenge Pro. Working in partnership with the Mastercard Foundation, KIC is empowering many young people to become entrepreneur’s whiles providing employment opportunities within the agricultural and agri-adjacent sectors.

BY OWUSU AKOTO