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OPINION: Ghana’s economic outlook 2020



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Ghana’s economic outlook is not healthy, according to the key economic indicators. The most critical indicators are interest rate, inflation, exchange rate and debt accumulation as a percentage of gross domestic product (GDP) which measures the nation’s production output. The GDP growth rate is expected to fall below the 5% and 6% ideal range for the next two years.

Unemployment is forecast to continue to surge above the 7.2% mark by the end of the election year 2020 according to World Bank report. The inflation figure (7.8%) is not too much compared to the previous year but the volatile nature of the exchange rate of the local currency against the major trading currencies is causing prices to increase on the market indirectly.  Currently, Ghanaians spend more than 43% of their total monthly income on food alone. The outlook is close to a Goldilocks economy.

With the novel Coronavirus (COVID-19) outbreak, Ghana’s economy maybe hardly hit due to the impact on her trading partners ie China, Europe and the US especially because of mass production shutdowns and supply chain disruptions, port closures in China, The Covid-19 has caused global “twin supply-demand shock”. Africa is beginning to feel its full impact and plans to control and manage the humanitarian challenges of the virus are underway across the continent of which Ghana is not an exception. Economically, the effects have already been felt – demand for Ghana’s raw materials and commodities in China has declined and access to industrial components and manufactured goods from China has been hampered. 

According to ratings agency, Fitch, the Coronavirus outbreak will have a downside risk for short term growth for sub-Saharan African growth, particularly in Ghana, Angola, Congo, Equatorial Guinea, Zambia, South Africa, Gabon and Nigeria – all countries that export large amounts of commodities to China.


The novel COVID-19 is expected to impact China’s global trade for several months and as China is Ghana’s biggest trading partner, the effects of COVID-19 are already being felt in the area of food supplies to Ghana. With China having shut down its manufacturing centers and closed its ports, there has been a resultant decrease in supply of commodities as most importers/exporters in China are cancelling orders due to port closures.



Over the next few months, the economy of Ghana would experience turbulent times which would lead to very slow GDP growth, increase in inflation, surge in unemployment rate, further depreciation of the cedi and a hike in interest rates. This is as a result of stagnation in domestic revenue mobilization, high interest payment on public debts, over the ceiling expenditure, continuous excessive government borrowings and increase in public service wages and salaries.

These are some very worrying concerns about the economic outlook of Ghana that need the attention of the Government, the economic management team and concerned stakeholders.


The novel COVID-19 may cause Ghana’s GDP growth rate to fall to 2.2% by the end of the year due to slowdown of both local and global economic activities. GDP growth only respond to economic activities and the lockdown of these buoyant cities like Accra, Kumasi and Tema would cause what I call Economic Activity Disruption.

Ghana’s sovereign credit rating was recently revised to B3 with a negative outlook and this ultimately emanated from the corona virus outbreak, the vulnerabilities in the economy especially on Ghana’s credit worthiness may affect the investor confidence built over the few years.

It is worth noting that Ghana has a track record of slippages during election year and deficiencies in revenue mobilization which always weakens the government’s fiscal target. Furthermore, the government may need approximately GHS78 bill which is 21% of GDP including debt amortization to meet its 2020 financing needs and fortunately the USD3bill Eurobond (4.9%) has provide some inflow to support government revenue needs.

However, the widening of the fiscal deficit means that government may need approximately 3% of GDP more in financing needs to meet its 2020 expenditure.

The government plans to fill the gap in the financing needs for 2020 from the USD1bill (1.6% of GDP) from the IMF (Rapid Credit Facility), World Bank’s USD300million (0.5% of GDP) and USD200million (0.3% of GDP) from the Petroleum fund, the remaining would be raised from the local market in government bonds.


Unfortunately for Ghana, its total debt stock is projected to 70% of GDP by the end of year 2020, unemployment to surge to 7.4%, cash deficit to hit 8% of GDP and tax revenue approximately by 35% of target for year 2020.Again, the widening fiscal deficit and the cedi depreciation is going to affect government revenue since the steep cedi depreciation is increasing external debts cost for the country.

Recently, the World Bank cautioned Ghana against excessive borrowing as the total debt stock of the country hit GHS214.9 billion with a revenue mobilization target of GHS67.07 billion, about GHS22.5 billion of which would be used to pay interest on loans alone.


The economy can experience a GDP growth rate in the non-oil sector which can translate into a positive macroeconomic growth boom. This can only happen when factors within the business cycle and private sectors of the economy have a change of policy direction.

Government and stakeholders should have a policy review on the following to change the narrative.

  • Capital availability for the private sector
  • Monetary policy rate must translate into Commercial interest rate
  • Cumulative data on demand and supply of foreign currency in Ghana
  • Policy credibility on incentives to exporters
  • Enforcement of policy direction on black market operations in Ghana
  • Policy credibility on improving administration
  • Strict policy on tax compliance
  • Overhaul the tax exemptions regime currently


A country’s economic outlook cannot be discussed without taking a critical look at the unemployment situation since it’s a component of determining the growth in economic development. 

The more employment the people get, the better and wider the tax revenue to be collected. The unemployment rate will average 7.4% in 2020 due to the job losses in the financial sector clean up, the unresolved Menzgold saga and the contraction in the private sector due to lack of cheap funds for SMEs.The reality is that some people have been out of work due to the crises in the banking sector and that they’ll never be able to return to the high-paying jobs they used to have. As a result, structural unemployment would increase. 

The real unemployment rate includes the graduate, unskilled, underemployed, the marginally attached, and discouraged workers. 


Inflation is a critical indicator in discussing the economic outlook of any country since it is a measure of prices of goods and services. It helps to measure the affordability of prices of both imported and local products and gives a sense of the living standard of the people in the country. 


Currently, the single digit inflation of 7.8% doesn’t translate into the prices of goods and services on the market and the reason is simple; the consumer price index (CPI). If the goods and services used are not the commonly and regularly consumed products of the majority of the citizens, the inflation figure would be small but the prices of goods and services in the market would keep surging as is the case of Ghana. Inflation is expected to average 9.8% in 2020 and rise to 10.5% in 2021 and 2022. The core inflation rate strips out those volatile gas and food prices



The Monetary Policy Committee (MPC) has maintained the current policy rate at an average of 16% at the last MPC meeting. It doesn’t expect to increase this interest rate but the current prevailing economic happening may force the MPC to adjust upward the policy rate to match the demand and supply of funds and also the mechanism used to stabilize the depreciating currency.

Interest rates at the commercial banks are still very high, even though, the policy rate has been kept low for close to two years. The simple reason why the low policy rate cannot translate into the rate quoted on the commercial market is high cost of funds for the banks, huge non-performing loans and very unstable business environment for the private sector with power outages as a contributing factor.


Unfortunately, the Central bank is more concerned about preventing high inflation rate than promoting growth within the market space. In fact, the Bank of Ghana sees inflation as a threat especially in the coming years.

The slow economic growth and macro impact in the lives of the people is the result of very high interest rates, lack of availability and access to funds for the private sector to thrive and expand so it can employ more.


Ghana’s total public debt increased to GHȻ224.9 billion in 2019. As a percentage of GDP, the total public debt is now 63.1% of the rebased GDP in 2019. The bulk of the public debt, totaling GHȻ188.8 billion (85.3%) was incurred between 2013 and 2019. Of this amount, GHȻ86.3 billion (38.2%) was incurred in the 4-year period of 2013-2016 and GHȻ102.5 billion (47.1%) in the 3-year period of 2017-2019 and a total of GHȻ16.7 billion (8% of the total debt) was advanced towards the cleaning up of the financial sector, which the Bank of Ghana classifies as financial sector resolution bond. 

In February this year, the government issued another US$3 billion Eurobond to support its budget for infrastructure, restructuring of the energy and financial services sector, and a liability management exercise (Min. of Finance, 2020). This brought the total public debt stock to GHȻ234.0 billion at the end of February 2020.



                      Table 1. Ghana: Public Debt Accumulation, 2013-2019

PeriodTotal Public DebtDomestic DebtExternal Debt
GHȻ’ mil.GHȻ’ mil.%GHȻ’ mil%

                Source. Government of Ghana & BoG




Total domestic debt stood at GHȻ105.6 billion (49.6% of total public debt) as at the end of December 2019.  The bulk of the total domestic debt amounting to GHȻ84.5 billion (82.1%) was contracted after 2012, of which GHȻ35 billion (34.0%) was incurred in 2013-2016 and GHȻ49.5 billion (48.1%) in 2017-2019 (Table 1). The banking sector held about 44.7% of the total domestic debt stock in 2018, showing a significant increase from the 35.5% share in 2017 due to the issuance of stocks to support the bailout of the financial sector. Holdings of domestic bond by foreigners saw a drop from 38.6% in 2017 to 30.1% in 2018 (GoG, March 2019). 


Total external debt as at end of year 2019 was GHS111.9 billion (US$20.3 billion) in 2019, (52.1% of the total public debt). As a percentage of GDP, Ghana’s external debt is 32.4%. The bulk of the external debt, amounting to GHȻ94.3 billion (84.3%), was incurred between 2013 and 2019 (Table 1) with a significant portion raised through the issuance of Eurobonds. 




One obvious area of underperformance of successive governments is taxation which is immensely important to national development and a key source of sustainable revenue. 

While some may have praised the government about the growth in the economy, the reality is that the living standard of the ordinary Ghanaian has not improved, the reason being that economic growth and rebased GDP does not guarantee economic wellbeing of the people.

In analyzing economic performance, one critical thing to consider is the tax to GDP ratio of the country i.e. the amount of tax collection to the nominal GDP. According to Heritage Foundation data and OECD, Ghana’s tax to GDP is around 11.9% as at 2019 which is low as compared to the highest of 14.1% in 2017 and the lowest being 7.8% in 2000. This is an area that needs a lot more work to be done for government to be able to invest more into capital projects.

The persistent shortfalls in tax revenue collections is a key reason why the government continues to borrow excessively and it’s not sustainable for a near Highly Indebted Poor Country (HIPC) country like Ghana.



The depreciation of the domestic currency, the cedi, against major trading currencies is one of the key indicators you would want to look at when discussing the economic outlook of Ghana especially since it plays a key role in the rising public debt. The exchange rate of the cedi to the United States dollar witnessed a continuous depreciation since the redenomination of the currency. 

The cedi has since experienced some significant exchange rate depreciation sharply under the combined effect of the widening trade deficit and the terms of trade shock due to poor import duty management, hike in black market operations, repatriation of profit by most multinational companies ie. MTN, and some of the tier-one banks.

The exchange rate stabilized in the early part of 2017, recording just depreciation of 4.9% against the US dollar. The cedi however recorded a cumulative depreciation of 8.4 percent against the US dollar by the end of 2018, driven largely by domestic demand pressures and external factors, particularly, the strengthening of the US dollar and rising yields of US Treasury instruments, the effects of the US tightened monetary policy and the rise in interest rates. During the first quarter of 2019, the cedi again came under pressure, driven largely by;

  1.      Seasonal demand pressures that recurred in the first quarter of the year resulting from foreign exchange demand by importers and corporate institutions to repatriate profits and dividends, 
  2.       Sentiments over Ghana’s economic outlook following the completion of the IMF Extended Credit Facility support program fuelled pressures on the foreign exchange market. The interplay of these factors, according to Bank of Ghana resulted in a depreciation of the cedi by 8% at the peak of the crisis in March 2019. By end of 2019, the cedi-dollar exchange rate had increased to 5.53, reflecting a depreciation of 12.9% in the year. In dollar terms, Ghana’s external debt increased from US$4.0 billion in 2008 to US$20.3 billion in 2019. In cedi terms, however, the external debt increased from GHȻ4.9 billion in 2008 to GHȻ111.9 billion in 2019, driven by the cedi-dollar exchange rate which dropped from 1.22 in 2008 to 5.33 in 2019, indicating that the cedi depreciated by 77.1% over the period. Thus, anytime the cedi depreciates, the country’s external debt and debt payments in cedis increase by the size of the depreciation. 
  3. Black market operations and lack of adequate data on dollars in circulation at each point in time.
  4. Huge importation of goods and services into the country without proper forex management regime within the commercial banking space.
  5.      Again, crude oil importation, financial conditions on the global market, and other factors within the fiscal management space also influence the cedi depreciation.
  6. Interest rate/coupon rate differentials on borrowed funds when it’s time to payback also puts some significant demand pressure on the US Dollar


Some of the pressure appears to be largely self-inflicted and coming from deliberate fiscal under-reporting, using the little accumulated reserves to shore up and stabilize the local currency and reliance on external financing coupled with monetary policy. For example, instead of monetary policy increasing the policy rate in 2019, Bank of Ghana continued to maintain the policy rate at 16% and instead used more of its reserves to intervene in the foreign exchange market to reduce the pressures. This is unsustainable and not a good medium to long term measure.



Ghana’s 2020 economic outlook shows very unstable microeconomic indicators which has a direct and indirect impact on the macro i.e. the living standard and job sustainability and security for the people. The current situation in which Ghana finds itself leaves everyone in the country to be worried. 

From the outlook, Ghana will experience subdued economic growth, although HIPC is unlikely. The effects of the government’s appetite for excessive borrowing, over the ceiling expenditure both budgeted and off the budget, interest payment on loans and employee salaries and wages has left no room within the fiscal space to allow for capital expenditure and developmental projects that would boost economic growth.

It is unfortunate that the government boasts GDP growth of 6.3%, but about 4.5% of this growth happens in the oil sector which only employs very specialized and skilled personnel leaving the real sector with just less than 2% growth. The real sector of the economy is where growth is needed to create the jobs for the graduate, skilled, unskilled, and master craftsman. 

These have led to increase in unemployment and most companies are concerned about the uncertainty in the economy resulting from the upcoming elections and the skyrocketing debt profile of Ghana.

The thing to do is to stay focused on your financial well-being. Continue to improve yourself, start a business, and chart a clear course for your career in the fastest-growing industries like agriculture. All in all, an excellent time to reduce debt, build up your savings and invest more, and increase your wealth. 


About author:

Jerry J. AFOLABI is a Financial & Economic expert who believes that ordinary people can do
extraordinary things when given opportunity. He is a leader in his field and community. His
passion is to empower young people, adults and entities today with a love of learning and self-
determination to become effective and self-reliant citizens. Email: ; Tel:
+233541238987. #MONEYTALKGH



People & Lifestyle

Actress and Activist Akosua Asieduaa Advocates for Youth Empowerment and Gender Equality at USAID Youth Conference



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 Budding Ghanaian actress and activist, Akosua Asieduaa Asare Brewu, took center stage at the recently concluded USAID Youth Conference in Washington, where she passionately voiced her commitment to addressing the challenges facing the most vulnerable  demographic in society – the youth.

As a fervent advocate for youth empowerment and gender equality, Asieduaa highlighted the urgent need for concerted efforts in empowering the girl child and tackling period poverty, particularly prevalent in Ghana. Drawing from her own experiences and observations, she underscored the importance of prioritizing these issues to ensure a brighter and more equitable future for all.

  Discovered and signed in 2019 to Pave; a prominent hub dedicated to discovering and nurturing creative talents in Ghana, Asieduaa has garnered widespread acclaim for her role as “Tilly”, a high school senior who battles the turbulence of adolescence in the popular YOLO TV Series. Leveraging her platform as an actress and activist, she continues to inspire change and drive meaningful dialogue on pressing social issues.

Her impassioned address at the USAID Youth Conference resonated deeply with attendees, igniting discussions and catalyzing action towards building a more inclusive and prosperous society. Asieduaa’s dedication to advocacy serves as a beacon of hope for youth empowerment and gender.

Asieduaa holds a degree in Earth Sciences from the University of Ghana and is currently pursuing her post graduate degree in Environmental Resources Management at KNUST. 


Asieduaa identifies as a #Paver; a term which is synonymous to an individual who uses their influence to promote positive change in society.


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People & Lifestyle

Telecel Ghana CEO Calls for Multilateral Collaboration and Investment in Digital Public Infrastructure



Chief Executive of Telecel Ghana Ing. Patricia Obo Nai

Chief Executive of Telecel Ghana, Ing. Patricia Obo-Nai has made a clarion call for stronger multilateral partnerships and cooperation between industry, government, and investors to accelerate the growth of digital public infrastructure in Africa. 

Delivering the keynote remarks on ‘Digital Infrastructure and Innovation: Accelerating Africa’s Development’ at the Mobile Technology for Development (MT4D) session of the 3i Africa Summit on Wednesday, Ing. Obo-Nai outlined a roadmap for leveraging technology to fast-track digital infrastructure, innovation and literacy across the continent.

My first call on the topic is for cooperation and partnership between governments, industry, domestic direct investors and foreign direct investors to work together on increasing digital public infrastructure if we are serious about it. Let’s not just discuss, let’s implement” Obo-Nai said.

Ing. Obo-Nai highlighted three key areas that require attention to expedite the integration of technology into public service to benefit every community – infrastructure, innovation, and digital literacy.

Hosted by the Ghana Chamber of Telecommunications under the auspices of the 3i Africa Summit, the MT4D sessions also hosted multiple panel discussions with experts from the field of technology, innovation and public information, who shared insights and solutions on expanding digital public infrastructure for inclusive development.


Future-proof infrastructure

Citing a report on the state of mobile internet connectivity in sub-Saharan Africa that showed that15% of people on the continent remain without network coverage, and 59% have coverage but are not connected, Ing. Obo-Nai advocated for expansion of safe, resilient and high-quality communication.

 As a service provider, Telecel, we believe in investing in network infrastructure and will continue to do so. However, we also believe in participating in infrastructure sharing and co-investment programmes to close the gap,” she said. “This will ensure the much-needed progress towards achieving Sustainable Development Goal 9 to provide universal and affordable access to the internet across Africa.

Innovation powers progress

Quoting the e-Conomy Africa report which revealed that Africa’s digital economy is one of the largest overlooked investment opportunities with a potential to add US$180 billion to Africa’s GDP by 2025, Ing. Obo-Nai urged stakeholders to invest in Africa’s innovative capacity and prioritise invention in schools and industry. 


Innovation is the fuel that powers progress and drives change. We must be more deliberate and invest in tapping into the innovative capacity of our talents and prioritise innovation in schools and industry to drive development at scale.”

Ripple effect of digital literacy

Making the case for the scaling up and adoption of digital literacy programmes in schools to equip African youth with skills for the digital economy, Ing. Obo-Nai said, “If we have the infrastructure and sort out all the innovative solutions, will we have an African population ready to take advantage of it and accelerate our development?”

With Africa’s working-age population projected to increase to approximately 450 million individuals from by 2035, Ing. Obo-Nai believes expanding internet accessibility holds the potential to generate millions of job opportunities and upskill young people for tech opportunities in the digital landscape.

Governments and businesses must invest in digital literacy programmes to equip African youth with the skills needed to thrive in the digital economy, from coding to digital marketing to cybersecurity and data analytics. Instil digital technology knowledge in our young people right from primary school and build their exposure.”


Crack the code.

In concluding the keynote address, Ing. Obo-Nai advised stakeholders to go beyond the dialogues and implement the shared solutions to ensure the acceleration of Africa’s development through digital public infrastructure.

“Together, we must crack the code to realise the full potential of Africa’s digital revolution and development.”

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Why Are People Raving About Pizzaman’s Food? Watch The Bite Buzz to See!



BITE BUZZ 2 scaled

Hey food enthusiasts! We’ve got some exciting news for you. Pizzaman Chickenman is launching a brand-new weekly series called “Bite Buzz,” and it’s hosted by the energetic and fun-loving Wizbid. Get ready to dive into a world of flavors and honest reviews with their tagline: “Taste, Review and Join the Buzz.”

Every week, Wizbid will be bringing you lively and entertaining episodes where customers give their honest review on their delicious meals, from Chickenman’s meals paired with Boneless beef and chicken , to their flavorful noodles and their cheesy pizzas. But this isn’t just about us talking – it’s about you sharing your experiences and joining the conversation.

What makes “Bite Buzz” unique? It’s all about community and connection. With Wizbid right there with you as you enjoy your meals at the branch, every bite and every laugh is shared, making the experience even more special. Plus, you’ll discover new favorites and might even see your own review featured!

So, mark your calendars and get ready to taste, review, and join the buzz. “Bite Buzz” is here to celebrate great food and a great fast food chain, and we can’t wait for you to be part of it. Follow Pizzaman Chickenman all Social Media Platforms and let’s make every meal an adventure!

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Francis Afful Gyan Speaks on Veunux At 2024 World Telecommunication and Information Society Day




The Business Development manager for Reservoir Management Group (RMG), Francis Afful Gyan, on Friday, May 17, 2024, detailed the benefits of the company’s digital flagship innovation, Veunex, an Artificial Intelligence Software System tailored for Health, Safety, Security and Environment (HSE).

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People & Lifestyle

Custom Tote Bags: A Trendy and Sustainable Choice in Fashion and Marketing



Eco Friendly Cabinetry 1

In a world increasingly attentive to sustainability and personal style, custom tote bags have emerged as a popular and versatile accessory. Whether used for grocery shopping, as a stylish day bag, or a promotional item, these bags combine functionality with a strong fashion statement. This article explores the significance of custom tote bags in contemporary culture, their benefits, and the impact they have on both personal use and as marketing tools.

1. The Rise of Tote Bags

Historical Background

Tote bags were originally used to carry ice from cars to freezers in the mid-20th century. Their simple, sturdy design has since evolved into a fashion statement and a banner for personal expression and environmental consciousness. Today, tote bags are made from a variety of materials, including traditional canvas, recycled plastics, and organic fabrics, reflecting a growing concern for sustainable practices in fashion.

Popularity in Modern Fashion

As fashion increasingly leans towards practicality, tote bags have become a staple accessory. They are celebrated not only for their eco-friendly appeal but also for their versatility and capacity, which make them ideal for a range of activities from shopping to traveling.

2. Benefits of Custom Tote Bags

Environmental Impact

One of the most significant benefits of tote bags is their reusability. Unlike disposable bags, which contribute to landfill waste and pollution, tote bags can be used repeatedly, drastically reducing the need for single-use plastics. They are a practical component of a sustainable lifestyle, encouraging consumers to make eco-friendly choices.

Marketing Advantage

For businesses, custom tote bags serve as an effective marketing tool. They are a practical item that consumers are likely to use regularly, ensuring repeated exposure for the brand. Customizing these bags with a company’s logo or slogan turns an ordinary item into a mobile advertisement, enhancing brand visibility and consumer engagement.


Versatility and Convenience

Custom tote bags are not only eco-friendly and stylish but also highly versatile. They can be designed to suit various needs, from grocery shopping to serving as a daily carryall. Their spacious design and durability make them suitable for nearly any occasion or purpose.

3. Customizing Your Tote Bag

Design Options

Customization allows individuals and businesses to create tote bags that reflect their style or brand identity. Options can include various colors, graphics, and text. Adding unique designs or messages can transform a simple tote into a statement piece or a personalized gift.

Material Choices

Choosing the right material is crucial for both aesthetics and functionality. Common materials for tote bags include:

  • Canvas: Durable and sturdy, ideal for everyday use.
  • Cotton: Soft, lightweight, and often organic, perfect for casual use.
  • Polypropylene: A recyclable plastic option that’s sturdy and water-resistant, suitable for heavy groceries.

Size and Function

The size of the tote bag should be tailored to its intended use. Smaller bags are great for everyday essentials, while larger ones are perfect for shopping or as beach bags. Features like zippered pockets, adjustable straps, and interior compartments can also be customized to enhance functionality.

4. Using Custom Tote Bags in Marketing

Promotional Events

Custom tote bags are excellent giveaways at trade shows, conferences, or community events. They are practical, which increases the likelihood of them being used by recipients, thereby extending the reach of the brand.

Retail Merchandise

Many retailers offer branded tote bags as part of their merchandise, either for sale or as a complimentary gift with a purchase. This not only enhances the shopping experience but also encourages brand loyalty.


Corporate Gifts

Custom tote bags make thoughtful corporate gifts. Whether filled with other promotional items or given alone, they are a useful and appreciated token that can foster better relationships with clients and employees.

5. Sustainability and Social Responsibility

Supporting Eco-Friendly Practices

Businesses that use custom tote bags demonstrate a commitment to sustainability, an increasingly important factor for consumers. This commitment can strengthen a brand’s image as environmentally responsible and socially conscious.

Reducing Plastic Waste

By promoting the use of reusable tote bags, companies contribute to a reduction in plastic waste, a critical factor in global environmental conservation efforts.

6. Choosing a Supplier for Custom Tote Bags

When selecting a provider for custom tote bags, it is essential to consider the quality of materials, customization options, and the company’s environmental practices. Vograce, for instance, offers a comprehensive selection of custom tote bags with a focus on quality and customer satisfaction, making them a reliable choice for both personal and professional needs.


Custom tote bags blend functionality, style, and environmental responsibility, making them a smart choice for consumers and businesses alike. They offer an effective way to promote sustainability, enhance brand visibility, and express personal style. As society continues to embrace eco-friendly practices and personalized products, custom tote bags stand out as a practical and stylish solution that meets the needs of modern consumers.


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People & Lifestyle




Stephen Blewett CEO For MTN Ghana

 On the occasion of the celebration of World Telecommunication and Information Society Day, MTN celebrates the transformative power of communication technology. At MTN Ghana, we remain committed to connecting people, enabling progress, and driving digital inclusion across our nation.

This year’s theme, “Digital Innovation for Sustainable Development,” is aligned with MTN’s Ambition 2025 strategy which seeks to lead digital solutions for Africa’s and Ghana’s progress with Environment, Social and Governance at the core. It demonstrates that technology, innovation, environmental and societal concerns are realities that cannot be overlooked if long-term sustainable socio-economic growth and prosperity is to be achieved in Africa. It also underscores the importance of leveraging and harnessing digital innovation in the telecommunications industry to provide innovative products and services, address global issues, drive socio-economic empowerment, and boost digital and financial inclusion.

Over the last 30 years, MTN has played a crucial role in Africa and Ghana in driving digital innovation on several fronts. From enhancing access to education and healthcare, boosting economic growth through digital skills and other support programmes, innovation in the fintech and digital economy sectors, fostering strategic collaborations, infrastructure investment among others, MTN’s contributions have been far-reaching and invaluable.

As a company rooted in Africa, our journey has been one of innovation, resilience, and collaboration. We have set the pace with our innovative products, empowered communities through our corporate social investments, and paved the way for a brighter digital future through our massive infrastructure investments. Partnerships with governments, businesses and others have been at the centre of our success in areas such as financial inclusion. As we reflect on our achievements, we extend our gratitude to each stakeholder who has been part of this remarkable journey.

As we celebrate the day, we reiterate the remarks of the CEO of MTN Ghana, Stephen Blewett, at the recent 3i Summit that “Africa’s fintech ecosystem is the engine that will drive its digital revolution and economic development in the coming years. Fintech can stimulate local economies and drive progress across the continent in several ways – financial inclusion, innovation and entrepreneurship, job creation, cross-border transactions and payments, digital identity and security, agriculture and rural development, government services, investment, and funding, as well as digital and financial literacy.”


His call for policy and legal frameworks to encourage the establishment of innovation hubs and 

digital sandboxes to provide the platform for incubating, testing, and rolling out new products reinforces the need for governments and businesses to be deliberate and collaborate in their approach to sustainable development.  Such hubs will be the channels for mentoring and nurturing the next generation of African entrepreneurs while providing the necessary resources, environment, and training in the digital space.

As we mark World Telecommunication Day 2024, let us reaffirm our commitment to harnessing digital innovation for sustainable development. By embracing technology as a force for good and leveraging its transformative potential, we can all work together in shaping Africa’s progress. 

Today, we celebrate the power of connectivity, the promise of technology, and the unity of purpose. Together, we shape a future where every Ghanaian can thrive in the digital world and affirm our belief that “everyone deserves the benefit of a modern connected life.”

We thank all our customers for being part of our journey and wish everyone a Happy World Telecoms and Information Society Day.

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