The economy is economizing

Everybody go feel am!

So, what’s in the bag today?

  • National: Ghana’s consumer spending is about to ghost like your crush.

  • Crime: When NIB becomes the new Airbnb.

  • Crime: Prof Ameyaw-Akumfi is back home, but the NIB still has receipts to check.

  • Crime: When even retired judges can get scammed in Ghana’s land business, what hope do the rest of us have?

  • International: India just banned the opioids messing up Ghana & Naija, but let’s not pretend the plug won’t find another socket.

  • Crime: Your jollof is missing? Check the scrap dealer’s stash.

  • Fact of the Day: Can you believe this metal used to be more expensive than silver and gold?

  • Economic: Money has hit but has it really?

QUICK BYTE

  • You know that moment when you check your bank account and suddenly start re-evaluating all your life decisions? Yeah, Ghana is about to enter that phase, according to Deloitte’s February 2025 Inflation Update. Basically, inflation dropped to 23.5% in January, but that doesn’t mean the price of waakye is going back to normal. Food prices are still rising, and your fav kelewele vendor? Yeah, she’s not reducing anything.

  • A businessman-turned-landlord sweet-talked a retired judge into buying a land that was already owned by someone else. Talk about testing the patience of the law! Charles Amoateng, the accused, promised Justice Fred Kwesi Awuah a prime plot at Abor Village. The retired judge paid GH₵300,000 upfront. When he confronted Amoateng, the businessman hit him with a classic excuse. “The family is handling some issues in court.” Sensing he was being played, Justice Awuah demanded a refund, but only GH₵100,000 made it back to him. After nearly a year of back-and-forth, the judge finally took the case to the Amasaman CID, leading to Amoateng’s arrest in November 2024. Now, he’s out on GH₵200,000 bail, with an April 2nd court date. Read more

  • After a BBC investigation exposed that tapentadol and carisoprodol were being illegally exported from India and wreaking havoc in West Africa, the Indian authorities have finally hit the brakes. These opioids have been moving through the streets like fan milk sellers on a hot day, but their side effects are way worse than just a brain freeze. Continue the story in the Deep Dive section.

  • You ever had that moment where you get a mobile money alert, and for a split second, you think you’re Bill Gates rich, only to realize it’s just your friend refunding that GH¢20 you borrowed him last year? Yeah, that’s kinda how Ghana’s Domestic Debt Exchange Programme (DDEP) payments feel right now. Deputy Finance Minister nominee, Thomas Nyarko Ampem, says we should focus on the “positive market signals” instead of whining about the country’s broke status. Basically, just be happy that some coins have dropped—even if they’re not enough to buy suya for the whole squad. Read more

  • One moment, Prof Ameyaw-Akumfi was doing big man things, and the next, he was clocking into NIB Detention Suites. Why was he arrested? Good question. Even the NIB is keeping it on a “Wait for the next episode” energy. No press releases, no statements—just vibes and detainment. For now, all we know is that his lawyers are negotiating, and the professor is chilling (or maybe not) at NIB. Whether he’s coming out soon or staying for a full Detention Chronicles saga depends on what the authorities decide. Read more

  • Prof Christopher Ameyaw-Akumfi just had the kind of weekend nobody prays for—an unplanned visit to the National Intelligence Bureau (NIB) over some financial matters from his GIIF days. After a few hours at Kawukudi HQ, he’s back home, but the investigation is still on. His lawyer says it’s about financial approvals made back in his GIIF era. Whether this is a minor inquiry or a full-blown wahala, we’ll have to wait and see. Read more

  • Over the weekend, the school turned into a battlefield after students of Sokode High Technical School and residents of the Sokode community decided to settle disagreements the old-fashioned way: with pure violence and free punches. By the time the dust settled, injuries were flying around like WhatsApp chain messages. Students? Hurt. Townspeople? Hurt. Journalist? Very hurt. And in true Ghanaian fashion, when the “talking phase” didn’t work, the police and military entered the chat. Ghana Education Service (GES) has stepped in, closing the school indefinitely and packing the students home like jollof at a party. Read more

FACT OF THE DAY

Aluminum Was Once Worth More Than Gold And Silver!

  • Ah, March is here again, and you know what that means. Another round of sun, sweat, and standing for hours while school kids march like they’re auditioning for the military. But this year, the National Celebrations Planning Committee (NCPC) wants to spice things up for Ghana’s 68th Independence Day. First on the list? A throwback to February 28th, marking the OG protest that set the tone for independence. But don’t worry, it’s not all serious history stuff—there’s a nationwide school quiz competition. You think the NSMQ kids are intense? Just wait.

    Then, there’s the debate competition on March 4th, where students will argue over who really built Ghana. The President will also be handing out awards to school kids on March 5th because we must reward the future leaders before we frustrate them with employment issues later. And, of course, the main event—the grand ceremonial parade at Jubilee House on March 6th. Read more

  • Residents of Gomoa Ojobi are fuming after one so-called scrap dealer, Mumuni Abubakar, was caught hoarding over 200 cooking pots, coal pots, and saucepans—many of them stolen while still in use! According to victims, some were preparing banku, rice, Indomie, fried yam, and porridge when their utensils mysteriously disappeared mid-cooking. One moment, soup is boiling; next moment, the pot is gone! A raid on Abubakar’s hideout confirmed suspicions, with pots still containing leftover food found among the stolen items. This has led to calls for the banishment of scrap dealers. Read more

DEEP DIVE

The Plug Got Disconnected

So Tapentadol is a powerful painkiller, and carisoprodol is a muscle relaxant so addictive that even Europe said, “Nah, we’re good.” But together? They create a cocktail that can cause breathing difficulties, seizures, and even death. In short, people were out here playing Squid Game with their nervous system, and the manufacturers knew it. One director of Aveo Pharmaceuticals, Vinod Sharma, was even caught on hidden camera admitting that the pills were “very harmful” but, in his words, “nowadays, this is business.”

Now, the Indian Food and Drug Administration has swooped in like a strict boarding school housemaster, raiding the Aveo factory and seizing every last tablet. But let’s be honest. This is like finally catching one exam apor plug in a school full of apor boys. The real question is: how many more of these “pharmaceutical” hustlers are still out there, waiting to fill the gap? Read more

Ghana’s inflation is cooling down, but your wallet won’t feel the breeze anytime soon.

Deloitte is also hinting that the Bank of Ghana is probably going to chill on making any big moves, meaning the monetary policy rate (aka the thing that influences your loan and savings interest rates) will likely stay the same. So, if you were hoping for some relief, nah fam, the economy is still in hard guy mode. Meanwhile, Nigeria is also in the trenches, with price pressures refusing to back down like that one stubborn ex. Their inflation rate dropped to 24.48% in January, but experts say it’s just a temporary vibe check before things get intense again.

All this talk about inflation, economic reforms, and consumer spending is cute, but let’s be honest: are we going to see any real difference at Makola, or should we just start practicing intermittent fasting? Because at this rate, your salary is doing quick visits like a weekend guest, and prices are behaving like permanent tenants. Ghana’s economy might be adjusting, but the real question is: can our pockets keep up?

NEWS SOURCES

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