ghananlpcommunity/ghana-gov-speeches-sentences huggingface dataset:
On the regulatory front Cabinet has approved the establishment of the Electricity Market Oversight Panel (EMOP).
The EMOP was provided for under the Electricity Regulations, LI 1937 but has not seen the light of day since 2008.
The EMOP is to be inaugurated in August, 2017, to begin implementing its mandate.The EMOP will exercise oversight responsibility over the Wholesale Electricity Market (WEM) in Ghana with the objective of infusing operational sanity in the generation and supply of electricity in Ghana and particularly managing and optimising hydroelectric generation in the country.
Speaker, one key intervention that Government promised in the 2017 Budget Statement was the restructuring of the Volta River Authority (VRA) to bring about increased operational efficiency and private sector investments in the power sector.
Government has approved the VRA restructuring agenda submitted by the Ministry to Cabinet and processes towards the implementation of the restructuring agenda have begun under the coordination of the Ministry of Finance.
Speaker, in the renewable energy front, Government has given approval to Bui Power to collaborate with SYNO Hydro to construct a 250mw solar power facility to operate as a hybrid electricity generation source to complement the hydro- electricity, so that the Bui power plant can enhance its electricity generation capability during off-peak periods.
Speaker, in 2017 we inherited from the previous government Liquefied Natural Gas (LNG) supply contracts that were mispriced.
Prices were higher than indigenous sources of gas and in some cases higher than the crude oil, it was designed to displace.
We have restructured and renegotiated the terms of LNG supply such that the price is now below that of indigenous gas and guaranteed for the long term to be below that of alternative fuels such as light crude oil.Our successful renegotiations of these LNG contracts will result in savings of approximately a billion dollars.
Speaker, these initiatives are aimed at achieving a reduction in the per kilowattprice of electricity for industry and households.
Transport Mr.
Speaker, as part of Government’s effort to improve public mass transportation, the Ministry initiated processes for the acquisition of buses for the two Public Bus Companies.
The objective is to improve the current bus fleet of Metro Mass and Inter-City State Transport Corporation (ISCT).
In all a total of 800 buses will be acquired.
These include 200 Compress Natural Gas (CNG) and 500 diesel buses for the Metro Mass Transit and the remaining 100 diesel buses for ISTC.
As a demonstration of Government’s commitment to address challenges at Ghana’s Ports, and to improve ports efficiency, the government has decided to implement the following interventions: The launch of the first phase of the interconnectivity of computer systems between Ghana and Cote d’Ivoire Customs to facilitate better collaboration and coordination; Removal of all customs barriers on transit corridors; Mandatory Joint inspection by regulatory agencies at the Ports; and Implementation of 100 percent paperless processing procedures.
Railways Development Mr.
Speaker, the establishment of a Ministry of Railways Development was to address what the President has continuously described as one of the greatest tragedies of our post-colonial development.
From the colonial legacy of 947 kilometres at independence barely 13 percent was operational in January 2017.
The renewed interest that has been generated in the sector by over 200 companies both local and foreign expressing interest in participating in the redevelopment of the rail sector more than justifies the wisdom in setting up a Ministry to focus on the redevelopment of the sector.
Speaker, Tema to Akosombo has commenced and is projected to complete by mid-2020.
On the Eastern Line, a feasibility study is ready to trigger a procurement process.
On the Central Spine we have commenced the process of procuring a consultant to undertake a feasibility study.
Roads and Highways Mr.
Speaker, the Ministry maintained its focus on routine and periodic maintenance activities to protect the huge investment made by Government in the provision of the road infrastructure.
As at end of June 2017, routine maintenance had been undertaken on 6,233km (52% of the approved work plan) of the trunk road network; 8,899km (39% of the approved work plan) on the feeder road network; and 6,000km (59% of the approved work plan) on the urban road network.
Speaker, within the same period, periodic maintenance activities, comprising re-gravelling/spot improvement and resealing works had been carried out on 199km (57% of the approved work plan), 100km (33% of the approved work plan) and 180km (51% of the approved work plan) on the trunk, feeder and urban road networks respectively.
Periodic maintenance activities on the urban roads were mostly focused on resealing and asphalt overlay works which saw 100km of roads asphalted in MMDAs such as; Tema and Accra.
Also, minor rehabilitation works covering minor upgrading and the construction of culverts and drainage structures were carried on 261km (75% of the approved work plan) and 25km (25% of the approved work plan) on the feeder and urban road networks respectively.
The details of progress on some of the maintenance projects are shown below; Project Dec 2016 June 2017 Mankessim – Abura – Dunkwa 65% 82% Nkawkaw - New Abirem 41% 52% Kpone - Katamanso and Golf City Area 10% 15% Third Ring Road in Tamale 3% 5% Asphaltic Overlay of 250km of roads 40% AyefuaArea Roads 40% 60% Dalive – Agortaga Ph 2 (Km 6-12,2) 70% 100% Anyinasuso - Abonsuaso - Nyameadom - Da
The Minister for Finance, Dr Cassiel Ato Forson, has delivered an address at the opening session of the National Economic Dialogue, organised by the Mahama-led administration.
The event, which brings together key stakeholders, aims to find sustainable solutions to Ghana’s economic challenges.
During his speech, Dr Ato Forson acknowledged the severe difficulties facing the economy, emphasising that the current crisis requires urgent and strategic interventions.
He stressed that while efforts are being made to stabilise the situation, much more remains to be done to restore economic confidence and growth.
The Finance Minister reaffirmed the government’s commitment to implementing policies that will address the structural weaknesses in the economy.
He expressed hope that the outcomes of the dialogue would provide a clear roadmap for economic recovery and long-term development.
The Finance Minister, Dr Cassiel Ato Forson on Monday, May 19, inaugurated the board of directors of the Ghana Gold Board (GoldBod), marking a significant step in the government’s efforts to formalise and regulate the nation’s gold sector.
This initiative, a key component of President John Dramani Mahama’s economic strategy, aims to streamline gold trading, curb illegal activities, and enhance foreign exchange inflows.
Dr Forson highlighted the fragmented nature of the current gold market, noting that numerous individuals and entities operate without proper regulation, leading to widespread smuggling and loss of revenue.
The GoldBod is envisioned to act as the sole buyer, seller, assayer, and exporter of gold from licensed small-scale miners, ensuring traceability and compliance with international standards .
The establishment of the GoldBod is also seen as a strategic move to stabilise the Ghanaian cedi and bolster the country’s foreign reserves.
Dr Forson emphasised that the board would oversee the entire gold value chain—from extraction to refining and marketing—both locally and internationally.
To support its operations, the government has allocated $279 million as a revolving fund, enabling the purchase and export of at least three tonnes of gold per week from small-scale miners.
Below is the Minister’s full speech at the ceremony.
SPEECH DELIVERED BY THE FINANCE MINISTER, DR.
CASSIEL ATO FORSON AT THE INAUGURATION OF THE GOVERNING BOARD OF THE GOLDBOD TODAY Esteemed Chairman and members of the Board of Directors of the Ghana Gold Board (GoldBod); I have the singular honour to congratulate you, on behalf of His Excellency President John Dramani Mahama, on your appointment to the Board.
This journey began on January 27th, 2025, with the inauguration of the Technical Committee tasked to develop the legal and operational framework, particularly the drafting of a Bill for the establishment of the Ghana Gold Board (GoldBod).
I must commend the members of the erstwhile Technical Committee and all who played various roles in developing the fit for purpose and time-tested GoldBod Act, within record time.
Distinguished members of the Board, it bears reminding you, that the Ghana GoldBod is a flagship initiative envisioned by His Excellency President John Dramani Mahama for economic revitalization.
To achieve this, we must optimise every stage of the value chain—from extraction to refining, value addition and marketing, both locally and internationally.
The Ghana Gold Board is here to serve as that specialised agency for effective marketing of our gold resources.
This will involve the implementation of a deliberate program to formalise gold trading from the small-scale mining industry and promote traceability with the aim of enhancing the international acceptability of gold from Ghana.
I am happy to announce, that the erstwhile chaos in Ghana’s gold purchasing sector that prevented the nation from fully benefiting from its gold resources, has come to an end.
The Bank of Ghana also used to purchase gold through PMMC and other private aggregators under initiatives such as “gold for forex,” “gold for reserves”, “gold for oil,” and “gold for cash” among others.
Apart from these, numerous individual Ghanaians and foreigners with export licenses and/or gold buying licenses were also active in the gold purchases and export market.
This fragmented, uncoordinated and unregulated system led to widespread gold smuggling and deprived the state of much-needed foreign exchange.
All of this now belongs in the past, because the Ghana GoldBod is the now the sole buyer and assayer of gold, with exclusive mandate to grant license to engage in the trade of Gold from Ghana’s small-scale mining sector.
Distinguished members of the Board, I am pleased to observe that the GoldBod has already began to fulfil its object and has contributed immensely to the recent stability of the Ghana Cedi through gold reserve accumulation.
This rally stems from a robust policy framework, underpinned by synchronized monetary and fiscal measures, as well as a favorable global context.
Bolstering these efforts, enhanced foreign exchange inflows from gold, cocoa, and remittances, alongside a softening US dollar amid global uncertainties, have significantly driven the strength of the Ghana cedi.
In fact, our foreign exchange reserves at the Bank of Ghana reached a record-high in April 2025, surpassing targets set under the IMF-supported programme ahead of schedule.
The activities of the Goldbod stand to further strengthen this performance.
In fact, it will change how both the Ghana cedi and Ghana’s foreign exchange accumulation will behave in the future.
I wish to assure the Ghanaian public and our stakeholders, that the outlook for the Ghana cedi remains robust and sustainable, supported by the transformative activities of the Goldbod.
I urge the newly-constituted Board to work hard to support and sustain this trajectory.
I thank you and may God bless our homeland Ghana.
Finance Minister Ken Ofori-Atta addressed the nation on Monday recommending that bondholders accept the Domestic Debt Exchange Programme (DDEP) otherwise, reviving the economy will be a Herculean task for Akufo-Addo's government.
He stated that Tuesday, February 7, 2023, deadline for signing up for the Programme will not be extended.
Read his full speech below; Good Evening Ladies and Gentlemen: On Monday5thDecember,2022, Government launched the Ghana Domestic Debt Exchange Programme as part of a broader response to recent macroeconomic challenges.
At that time, we indicated that the Debt Exchange Programme had been informed by the Debt Sustainability Analysis which revealed that: Ghana’s public debt had become unsustainable; and that debt servicing accounted for more than half of total government revenues and almost 70% of tax revenues, while total public debt stock, including that of State-Owned Enterprises and statutory funds, exceeded 100% of our GDP.
The essence of the debt exchange, we indicated, was to help restore our capacity to service our debt and meet other expenditure obligations.
I must say that these essential considerations have not changed.
Indeed, they are even more pressing today.
Prior to this launch, in November 2022, I presented the broad contours of our economic and financial landscape and the necessary response measures as part of the 2023 Budget Statement and Economic Policy.
Response Programme and Immediate Outcome Since then, three (3) significant developments have occurred to pave our path to economic recovery: Parliament, after sustained engagements, judiciously passed the 2023 Budget; paving the way for the implementation of key revenue-enhancement and expenditure-consolidating measures.
Government, over the past several months, aggressively pursued revenue enhancement and expenditure rationalisation measures towards facilitating macroeconomic stability.
The Ministry of Finance worked assiduously with all stakeholders to reach a Staff Level Agreement (SLA) on the IMF programme, in record time.
The IMF Programme is broadly aimed at assisting government to restore macroeconomic stability with a strong focus on protecting the most vulnerable in our society.
DEBT OPERATIONS Ladies and Gentlemen , undergirding the budget and the SLA was the Domestic Debt Exchange Programme.
Our strategy has been to work diligently and with urgency to restore macroeconomic stability; including bringing down inflation, and stabilising the Cedi.
These are necessary measures to protect businesses and restore the purchasing power of Ghanaians, within the shortest possible time.
It was our expectation that collectively, we would have concluded the Domestic Debt Exchange Programme by the end of January, to anchor our effort to alleviate the debt burden in the most transparent, efficient and sustainable manner However, we admit that there were legitimate and critical concerns which needed deeper and broader consultations.
The requisite efforts to address them have resulted in improved terms and changes in the closing date, with a final deadline of tomorrow.
Tomorrow, Tuesday, 7 t h February 2023, is the final deadline for institutions and individuals to sign up to Ghana’s Domestic Debt Exchange Programme.
As a listening Government, we have re-engaged all stakeholders, on a daily basis; sometimes even deep into the night.
The Governor and I, and our teams are all thankful to the Ghana Association of Banks (GAB); the Ghana Insurers Association (GIA); the Ghana Securities Industry Association (GSIA); the Individual Bondholders Forum; and the Pensioner Bondholders Forum, for their interest, insights and goodwill.
Today, I am here to provide an update on where we are and to, once again, encourage the full support of all Individual and Institutional Bondholders.
U p d at e o n t h e D DE P Distinguished Ladies and Gentlemen, In December 2022, we invited all holders of Ghana’s Bonds to volunteer to exchange their holdings for New Bonds whose terms are compatible with our desired downward debt trajectory.
This invitation was within the context that, for Ghana to reach the required debt sustainability threshold of debt-to-GDP of 55 per cent, it was important to review the interest rates and maturities of the existing bonds.
Having listened to and acknowledged emerging concerns, we have recalibrated the framework of the DDEP, with the following constituting the terms of the improved and enhanced offer: All individual bondholders who are below the age of 59 years (Category A) are being offered instruments with a maximum maturity of 5 years, instead of 15 years, and a 10% coupon rate; All retirees (including those retiring in 2023) (Category B) are being offered instruments with a maximum maturity of 5 years, instead of 15 years, and a 15% coupon rate.
The objective of this is to ensure that individuals, especially retirees, who put their hard-earned savings in our domestic market, are not left in hardship as a result of the DDEP and yet contribute to the resolution of our current crisis.
We have been intentional in pushing the threshold of what is possible, in order to: i .
Safeguard the well-being of our pensioners; ii.
Preserve the savings of individuals; iii.
Protect the working capital of businesses; iv.
Ensure the health and stability of our financial sector; and v. Restore macroeconomic stability.
Indeed, since the first announcement of the DDEP, the Government has engaged in good faith discussions and extensive stakeholder engagements with all groups, in order to reach a resolution that ensures an orderly path out of our economic challenges, anchored by a sense of community and empathy.
A New and Stronger Partnership 18.
Ladies and Gentlemen, these significant amendments have enabled Government to reach an agreement with key major domestic creditor categories including banks, insurance companies, capital market players and foreign holders of domestic debt in relation to their participation in the DDEP.
Undoubtedly, the participation of the banks, insurance companies and the securities industry, under the enhanced DDEP is a significant milestone which represents a response to a call to national duty.
It is a critical step to restore macroeconomic stability; accelerate Ghana’s economic growth under an IMF Programme; and leverage other international financial support.
On the back of these recent developments, the comprehensive agreement with the key stakeholders, and the enhancement of the DDEP, Government: Expects the full participation of institutional stakeholders and mobilization of all qualified investors, to ensure the success of the debt exchange operation; and Encourages eligible Individual Holders to voluntarily tender their holdings.
Frankly, non-participation or a lower-than-expected turnout for the DDEP will prolong efforts to resolve the current economic crisis.
In addition, the prospects of international financial support and other financial assurances would be jeopardised.
This development could further put strain and stress on the Government’s capacity to honour key commitments.
This is not what we want for our economy.
What we want is an economy that is back on track, stable, vibrant, productive, dynamic; meeting the needs of individuals, households, and enterprises; delivering shared and inclusive growth; and improving incomes and livelihoods.
C o n c l u s i o n 23.
Ladies and Gentlemen, tomorrow is the final deadline for this programme and we are hopeful that all domestic investors will participate.
Let me restate that, as a government, our singular motivation for taking this rather difficult road is to restore macroeconomic stability, achieve debt sustainability and get the economy fully back on track.
We know that these are necessary pre-conditions for creating jobs; safeguarding and enhancing incomes; fostering inclusive growth; and restoring hope to Ghanaians.
Through collective hard work and discipline, coupled with the abiding and abundant grace of the Almighty God, we have been focused on avoiding a full-blown economic crisis.
Indeed, the Grace of God assures us that “Surely there is a future, and your hope will not be cut off.”
Proverbs 23:18 ESV 27.
Our remarkable progress with the ongoing International Monetary Fund Programme is a significant boost to our recovery efforts.
Continuous progress will steer us further away from the slippery precipice we recently faced.
Therefore, the momentum must be sustained.
Considering the importance of a sustained economic recovery backed by an approved IMF programme in the first quarter of 2023, it is crucial for groups and individuals to consider the merit of the enhanced DDEP, as well as the need for economic stability; and sign up by tomorrow to make it a successful one.
Let every Ghanaian be encouraged that the DDEP will bring us to a place of stability, economic recovery and transformational growth.
We must do this together.
Government on its part is resolved to continue to undertake all necessary fiscal adjustments that would ensure that our sacrifices will pay off and the collective good is upheld.
Let each and everyone play their part.
These are difficult times, no doubt, but if we hold on together, we can and we will emerge from this more resilient and more united than before.
Then we shall, together, continue rebuilding our economy again; enable businesses to thrive again; and bring back hope and cheer to our homes again.
Let us all speak one language: Boa me na men boa wo ; and we shall then prevail and recover all.
Let’s do this together!
God Bless Ghana, and make her great and strong!
Thank you, and God bless us all.
Mr Speaker, on March 11, 2020, the World Health Organisation declared COVID-19 as a pandemic.
This moment has marked a defining moment in world history and its impact still reverberates globally.
Mr Speaker, here in Ghana, we recorded our first two cases on March 12, 2020.
President Nana Addo Dankwa Akufo-Addo, immediately put together a task force which spearheaded the development of a bold, comprehensive, and decisive strategy to ensure that we are not overwhelmed by the pandemic.
In line with this strategy, the impact of the COVID-19 pandemic on the economy of Ghana was assessed and measures were designed to address its immediate impacts.
However, the impact of the pandemic was even more severe than anticipated both globally and domestically.
It has upended and exposed the weaknesses in critical structures and systems in education, health, economic life and communities.
The pandemic triggered a sharp and heavy disruption in global supply chains as lockdowns and restrictions led to reductions in demand and production levels.
Mr Speaker, this has required us to undertake major fiscal measures beyond what we programmed prior to the pandemic.
To finance the additional expenditure such as support to households, engagement of additional health personnel deployment of security personnel at our borders to enforce the CoVID-19 protocols, as well as the procurement of personal protective equipment, government has had to adopt major fiscal measures to accommodate the increased expenditure and the shortfalls in revenue.
Though our response was bold, decisive, and compassionate, it has also been costly.
Speaker, you may recall that on 30th March 2020, I made a statement to Parliament on the Economic Impact of the COVID-19 Pandemic on the Economy of Ghana, following which the implementation of the Coronavirus Alleviation Programme (CAP) commenced.
First President Kwame Nkrumah delivered the first independence speech on March 6, 1957 to hundreds of participants including representatives from the British monarch.
"We have won the battle and again rededicate ourselves," he had said, adding "Our independence is meaningless unless it is linked up witih the total liberation of Africa."
Today, Ghana celebrates Kwame Nkrumah Memorial Day (a.k.a Founder's Day), a statutory holiday set aside to observe the birthday of Ghana's first President, Dr.
Kwame Nkrumah.
Read full speech delivered by Dr Nkrumah on Ghana's independence day below : ************************************************ At long last, the battle has ended!
And thus, Ghana, your beloved country is free forever!
And yet again, I want to take the opportunity to thank the people of this country; the youth, the farmers, the women who have so nobly fought and won the battle.
Also, I want to thank the valiant ex-servicemen who have so cooperated with me in this mighty task of freeing our country from foreign rule and imperialism.
And, as I pointed out… from now on, today, we must change our attitudes and our minds.
We must realise that from now on we are no longer a colonial but free and independent people.
But also, as I pointed out, that also entails hard work.