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Here’s your daily news:
Business: MTN Ghana makes GHS 12.7 billion, government taxes say, “We’ll take half!”
National: CLOGSAG says ‘We out.’
National: GAF's bringing the heat, showing us they’re ready to keep Ghana safe.
Political: Sunyani chiefs back Bawumia & Napo for the win!
National: Bawumia’s about to drop Ghana’s first credit scoring system.
Fact of the Day: Did you know that giraffes have blood pressure that hits levels higher than your ex's drama?
National: Ghana’s 5G that won’t empty your wallet or swipe your data – yes, we’re serious!
National: Ghana cuts a $30 million check to Sunon Asogli, aiming to avoid dumsor.
Business: Bank of Ghana’s license snatch from CDH Savings and Loans hits rewind – court says, “Play fair and work it out.”
QUICK BYTE
MTN Ghana worked its socks off and pulled in a casual GHS 12.7 billion last quarter. You’d think, “They’re rolling in it!” right? Wrong. Government taxes came in with big pockets and snatched away half of that cash in taxes and fees. MTN is still making bank. After the great tax heist of Q3, MTN came out with a solid GHS 3.8 billion profit – up 35.5% from last year. Turns out, they’re doing fine, with data and MoMo (Mobile Money) sales practically doing backflips in the growth department. Read more
Looks like CLOGSAG has reached its breaking point! Starting November 7, they’re on strike, and this time, it’s nationwide. After months of meetings and back-and-forths over a new salary structure, the Civil and Local Government Staff Association of Ghana is saying “enough’s enough.” According to them, the Fair Wages and Salaries Commission (FWSC) has been dragging its feet, and now, they’ve had it. Want the deets in full? Check out the Deep Dive section.
Ghana’s about to get a credit score system, and it’s the talk of the town! Bawumia’s out here flexing his digital muscle, bringing a swipe-right-for-finance vibe to the whole country and it all kicks off November 7. With this new system, no more feeling left out when it comes to getting that fancy fridge on credit – you know, like our South African pals have been doing for years! If this credit system means we can stack up on electronics without instantly going broke, we’re here for it. Get the 411 in the Deep Dive section below
So, Ghana’s trying to avoid a repeat of those power-cut days (aka dumsor nightmares). The Finance Ministry just greenlit $30 million to Sunon Asogli, one of the big players keeping the electricity going. Why the urgency? Well, Sunon Asogli shut down its plant over unpaid debts from the Electricity Company of Ghana (ECG), putting the country’s power supply in serious jeopardy. Read more in the Deep Dive Section.
GAF threw the ultimate power move party, and the guest list included all the firepower Ghana’s got. That’s basically what went down at the Land Combat and Fire Power Demo Exercise. Brigadier-General Asare wasn’t playing around—he stepped up like, “Look, this ain’t just for show. We’re all in to defend Ghana, no jokes.” With soldiers putting their skills to the test in mock battles, it was a whole movie. Tanks, explosions, and formations straight out of an action flick? Check, check, and check! The GAF even brought senior officers from all over Africa to check out Ghana’s A-game. Even the Air Force and Navy showed up to back the ground troops, because why not go big? Read more
FACT OF THE DAY
Giraffes have blood pressure that hits levels higher than your ex's drama. They pump out a whopping 280/180 mm Hg—that’s twice the pressure of us mere humans chillin' at 120/80 mm Hg!
Ghana’s 5G is officially here, and apparently, it’s both affordable and secure. Imagine the speed of ten TikToks loading in the blink of an eye. That’s the vibe Minister Ursula Owusu-Ekuful is serving, assuring us that 5G will have us scrolling at lightning speed without causing wallet damage. The secret? A “shared network model.” Basically, it’s like a big group project where everyone splits the costs, so no one goes broke. And on the data security front? The Minister swears it’s locked up like your grandma’s money tied in a knot on her cloth. Read more
The Accra High Court just hit the brakes on the Bank of Ghana’s (BoG) move to revoke CDH Savings and Loans' license back in 2019. Yep, they called BoG out, saying the whole thing was rushed and didn’t give CDH a fair shot at fixing its liquidity issues. Now, instead of a shutdown, it’s time for both sides to hash it out through arbitration. Read more
The Sunyani Traditional Council didn’t hold back in expressing their endorsement of the NPP, with Nana Kwaku Sabeng II, the acting head, saying they’re all-in for Bawumia and his squad. Why? Because the NPP has been paving the way—literally. With the recent road upgrades in Sunyani, the NPP is the ticket to continued progress in Bono. NAPO, clearly pleased with the royal backing, didn’t come empty-handed. He gifted the council a brand-new vehicle. “The next time we meet, we’ll be addressing you as Vice President,” Nana Sabeng declared. Read more
DEEP DIVE
CLOGSAG has had it!
Let’s rewind a bit: the salary talk started ages ago, and CLOGSAG’s been trying to lock in a new pay structure that was supposed to take effect on January 1, 2025. CLOGSAG’s last call for action was back in October, warning the government to get serious by October 31. But here we are, and CLOGSAG says they’re done waiting. Come Thursday, don’t expect to see any members on duty—they’re putting their foot down until their pay issues get a real fix.
Their beef? CLOGSAG says FWSC isn’t just dragging its feet—it’s been outright stalling with “bad faith” tactics, leaving members feeling like they’re chasing a mirage. This isn’t just about the money—it’s about feeling like their work isn’t being respected. So, with no deal in sight and plenty of frustration in the air, they’ve chosen to step away and make it clear: no structure, no service.
Now, the big question: will this strike be the jolt the government needs to take CLOGSAG’s demands seriously? Or will we see yet another round of “we’re working on it” while members sit at home waiting for the green light? Whatever happens, CLOGSAG’s definitely showing they mean business. Read more
Credit Scores & All
Ghana’s getting a credit score system! Yep, the same credit score thing we only hear about in American movies. It’s like we’re finally getting a backstage pass to the finance VIP club – all thanks to Dr. Bawumia and his big tech dreams. Come November 7, the launch goes live, and it’s set to help Ghanaians snag stuff on credit without sweating it. So, in a way, it’s like Bawumia’s handing us the golden ticket to “Buy Now, Worry Later.” And this is no ordinary upgrade; Ghana’s literally joining the credit score league as only the second African country after South Africa!
Bawumia’s been all over the Ashanti Region hyping this up, telling people, “It’s time for Ghana to glow up!” And, unlike that friend who’s all talk and no action, the groundwork’s already in place – Ghana Card, digital addresses, and mobile money interoperability. That means your digital identity will now play a big role in how much credit you can score. Your MoMo vibes are about to be data (those of you who take quik loan and never pay back, good morning oo). Bawumia’s lowkey saying, “Let’s make adulting less tragic,” and if this system works, maybe we’ll finally get that air conditioner without getting our pockets wrecked.
Bawumia's vision has this railway revamp vibe too – think Kumasi to Takoradi, zipping through Nyinahin, because who doesn’t want a smooth ride to move bauxite and all? Ghana’s infrastructure goals are serving major glow-up energy! It’s like when your favorite street goes from potholes to asphalt. Plus, driver’s licenses are about to last a solid 10 years, so less DMV drama. One Ghana Card and you're set for everything from passports to pizza, honestly. Read more
Please, don’t leave me in the dark
You’re about to hit the jackpot, but someone swipes your winning ticket – that’s how Sunon Asogli must feel. After waiting around for ECG to pay up, they finally hit shutdown mode, sparking fears of a new “dumsor” era. Enter the Finance Ministry with $30 million, trying to salvage the situation like an emergency patch on a sinking ship. The goal? Get Sunon Asogli’s plant back up and running so we can all keep the lights on and avoid the economic fallout.
But the thing is, this power sector mess goes way deeper than dollars and cents. According to Ben Boakye from ACEP, ECG’s issues boil down to leadership failings and inefficiencies in revenue collection, not just a lack of cash. He’s basically saying, "You can throw money at it all day, but if the managers don’t step up, we’re still headed for blackout city.” In other words, a fancy new investment doesn’t mean squat if the people running the show don’t know how to play the game.
And about that $30 million check – some people are raising eyebrows over where it’s going. Boakye points out that this is money that could have gone to, say, schools or hospitals. But instead, here we are, funneling it into a power sector plagued by inefficiencies and politics. Imagine borrowing from your savings to pay for a car that keeps breaking down – frustrating, right? That’s the vibe here.
So, while the payment may buy some peace (and power) in the short term, the real question is whether ECG can get its act together long-term. Read more
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