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- Kiosk and GH¢677M don't go together
Survived yesterday? Then you deserve this. Let’s take a quick break and dive into some stories that’ll make you forget it’s still the middle of the week.
National: Pension funds want to travel, but gov’t says ‘Stay Home, Cedi can’t handle it’.
Economic: When the World Bank says “we need to talk,” you know someone’s in trouble.
Politics: The EC’s new motto: Better Broke Than Ballot-Busted!
National: Dumsor: ECG's $259M ghosting sends power plants to ICU.
Fact of the Day: That "new car smell" is lowkey a chemical soup.
Politics: Dr. Bawumia warns Ghana: a one-term Mahama is like a group project partner who doesn’t show up—zero accountability!
Politics: Election results in 36 hours? EC says, ‘why not!’
Politics: Akomea claps back with a reality check for Alan Cash.
QUICK BYTE
Accra has a soft spot for kiosks. They’re like those cousins who always show up uninvited to family gatherings. That’s why Daniel Titus-Glover, Greater Accra Regional Minister, is warning us that doesn’t want to see any kiosks, containers, and definitely no random clutter near the new GH¢677M Flower Pot Interchange. Read more
The World Bank is giving Development Bank Ghana (DBG) major side-eye over allegations of blowing cash and funky procurement deals. We’re talking claims of GHS 700M losses and GHS 400M in questionable contracts. Get the 411 in the Deep Dive section below
Three power plants are this close to flatlining because of a $259M debt owed to Independent Power Producers (IPPs). ECG is ghosting its payments like an ex who owes you money, and the IPPs are done playing nice. Dr. Elikplim Apetorgbor, IPPs' CEO, said if the government doesn’t cough up the cash by Friday, by Monday, these plants will shut down. Meanwhile, President Akufo-Addo just launched a new power project claiming it’s the final nail in dumsor’s coffin. The IPPs? Rolling their eyes harder than a teenager asked to wash dishes. Read more
Ghana’s private pension funds are trying to spread their wings and invest abroad, but the government said, “Chill, you’ll weaken the cedi.” Fund managers are fuming because inflation is snacking on their gains while foreign investors get a VIP pass to our market. They argue their 5% allowance abroad won’t cause a meltdown, but the National Pensions Regulatory Authority (NPRA) isn’t convinced, saying, “Chill, we’re just protecting liquidity.” But the fund managers are side-eying them, asking, “Then why can’t we protect our money too?” It’s a whole telenovela right now. Read more
Okay, so the Electoral Commission (EC) had a classic “oopsie, my bad” moment. Ballot papers for the Volta and Ahafo regions had serial number drama—think mismatched vibes that could’ve turned votes into rejected receipts. To save face and, more importantly, democracy, the EC decided to reprint the ballots. Cost? High. Drama? Higher. But the EC isn’t sweating it. They’re like, “Listen, taxpayers, you’d rather have flawless elections than spare change.” Read more
FACT OF THE DAY
Many people love that “new car smell”? But, it’s toxic mix of 200+ plastics, adhesives and more.
Dr. Bawumia, the NPP’s flagbearer, just threw shade at John Dramani Mahama, calling his one-term potential a recipe for zero accountability. According to him, Mahama's "been there, done that" presidency doesn’t guarantee the follow-through Ghanaians need. Meanwhile, Bawumia flexed his "Mr. 8 Years" card, promising to circle back to constituencies like Ahafo Ano South West to show receipts: roads, schools, and electricity. Read more
According to Dr. Bossman Asare, Deputy EC Chair, the team is committed to delivering results in 72 hours, with a cheeky “36 hours? Sure, why not?” energy if everything goes smoothly. While the 2020 election aimed for a 24-hour announcement (and hit 48), this year’s extended 72-hour goal provides room for detailed checks. Read more
It’s political drama season, and the Alan vs. Kufuor endorsement episode is heating up! Nana Akomea, Vice Chairman of Bawumia’s campaign team, has questioned why Alan Kyerematen, leader of the Movement for Change, is upset over ex-President Kufuor endorsing Dr. Bawumia. Akomea didn’t hold back, comparing Kufuor to an Abrewatia (respected elder) in the NPP family and implying that Alan shouldn’t have expected loyalty after leaving the party. Read more
DEEP DIVE
World Bank dey shout
Okay, let’s set the stage. DBG is like the cool kid on the block, fresh from setting up shop in 2021 to fund Ghana’s private sector dreams. But now, they’re caught in a drama hotter than a Waakye pot. The World Bank’s like, “Hey, we’ve heard whispers about some shady money moves,” pointing at DBG’s alleged GHS 700M losses, improper contracts, and—wait for it—blowing international funds on furniture and IT upgrades.
DBG? They’re not taking this lying down. They rolled out a “let’s clear the air” statement. They claim they’ve been turning profits every year since day one and that their governance is tighter than a packed trotro. The allegations, they argue, are based on incomplete documents that are still being reviewed by their board.
Now, here’s where it gets juicy: DBG says funds from the World Bank and European Investment Bank are for on-lending only—basically, no chop-chop. They even threw in a detailed breakdown of how much they’ve pumped into SMEs and Ghana’s economic growth. Their receipts? GHS 1.5B disbursed to businesses and 500+ loans across 13 regions. DBG swears they’re just misunderstood.
So, what’s next? The World Bank is still giving DBG the “we’re watching you” treatment while both sides stick to their scripts.
Who’s telling the truth? Stay tuned for part 2. Read more
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