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Ghana’s economy is expected to surpass GH1 trillion by 2024 – Ofori-Atta

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When the Finance Minister praised Ghana's economic success in his midyear budget review in July, he drew significant criticism.

According to Finance Minister Ken Ofori-Atta, Ghana’s economy will reach GH1 trillion by 2024.

He indicated that the country’s economic worth is expected to rise from GH219.5 billion in 2016 to the record level of GH1 trillion during President Akufo-Addo’s final year in office.

Mr. Speaker, the 2024 Budget is even more noteworthy because we will cross the GH1 trillion Gross Domestic Product (GDP) milestone for the first time in our economic history,” Ofori-Atta said in a speech to parliament on Wednesday. Mr. Speaker, let me reiterate that Ghana’s economy in President Akufo-Addo’s final year in office is expected to be worth more than GH1 trillion in 2024, up from GH219.5 billion in 2016.

“Mr Speaker, with such a milestone ahead of us, the Government is protecting, at all costs, the foundation for sustained economic expansion. A foundation that has been achieved through the sweat and patience of the Ghanaian people. We pledge to protect this for all our people and especially for private sector growth. And we shall do so by ensuring that the enabling factors are in place and accessible to all.

“These will include reliable energy supply, stable Cedi, lower inflation and lower interest rate regimes, access to private sector credit, infrastructure provision, food security, national security, and inter-continental market linkages through increasing active platforms such as the AfCFTA.”

The Finance Minister also stated that the government has set aside GH220 million to assist communities in the Oti, Savannah, and Bono-East Regions impacted by the Akosombo spillage and floods.

He presented plans for the restoration phase, in which more funding from the Ministry of Agriculture will help with livelihood reconstruction.

In reaction to the crises, Ofori-Atta emphasised preventative actions, saying, “Mr Speaker, the Government has budgeted an amount of GH¢220 million to support the relief phase for the communities affected by the Akosombo spillage as well as floods upstream in the Oti, Savannah, and Bono-East Regions. For the restoration phase, the Government through the Ministry of Agriculture will allocate additional resources to support the restoration of livelihoods.

“In addition, after the visit, the Ministry of Finance was quickened to respond. We have requested funding from the World Bank under the IDA Crisis Response Window (CRW) to support the resettlement of the victims, restoration of livelihoods, compensation and reconstruction of infrastructure in the affected communities.”

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Ghanaian socialite Ama Governor finally called to the Bar

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However, the Registrar's notification indicated that the presence of one's name is not conclusive and final proof of enrolment. Ama has been in a year-long struggle with the General Legal Council (GLC) since a concerned citizen submitted a complaint in November 2022. This complaint claimed that she had engaged in behaviour that was "unbecoming of a bar applicant."

Barring unforeseen circumstances, Ghanaian celebrity Elorm Ababio, often known as Ama Governor, will be among the attorneys inducted into the Ghana Bar Association this year.

Ama Governor’s name appeared on a list of entrants signed by Yaw Oppong, the Director of the Ghana Law School.

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However, the Registrar’s notification indicated that the presence of one’s name is not conclusive and final proof of enrolment.

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Ama has been in a year-long struggle with the General Legal Council (GLC) since a concerned citizen submitted a complaint in November 2022.


This complaint claimed that she had engaged in behaviour that was “unbecoming of a bar applicant.”

As a consequence of this complaint, the GLC halted the process of summoning Ama to the bar.

She fiercely denied the claims of impropriety, claiming she had been treated unfairly throughout the affair.

In a surprising turn of events, the Ghana Bar Association (GBA) representative’s report to the General Legal Council at the 2022/2023 bar conference held in Cape Coast revealed that Ama Governor has been given the opportunity to complete the application process for her bar call, which is scheduled for the October/November 2023 sessions.

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Information Minister defends SSNIT’s investment in Rock City Hotel

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In the past, SSNIT effectively exited unprofitable ventures, allowing other shareholders to take control. According to the Information Minister, a Ghanaian entrepreneur with a successful track record in hospitality has indicated interest in acquiring SSNIT's stake in Rock City Hotel, which has over 800 rooms and employs many young people. The entrepreneur intends to build infrastructure, create more employment, and make substantial contributions to Ghana's economy, notably in the hotel industry, which is expected to rise to $5 million yearly. Despite satisfying regulations and going through a competitive procedure, others contend that the minister's involvement creates a conflict of interest.

Fatimatu Abubakar, Minister of Information, has shed light on Social Security and National Insurance Trust (SSNIT) investments during a familiarisation trip at Multimedia Group Limited.

SSNIT, which was formed to offer pensions to participants, invests contributions to create cash for beneficiaries.

However, SSNIT’s venture into hospitality businesses, including hotels and guest homes, has created criticism.

In the past, SSNIT effectively exited unprofitable ventures, allowing other shareholders to take control.

According to the Information Minister, a Ghanaian entrepreneur with a successful track record in hospitality has indicated interest in acquiring SSNIT’s stake in Rock City Hotel, which has over 800 rooms and employs many young people.

The entrepreneur intends to build infrastructure, create more employment, and make substantial contributions to Ghana’s economy, notably in the hotel industry, which is expected to rise to $5 million yearly.

Despite satisfying regulations and going through a competitive procedure, others contend that the minister’s involvement creates a conflict of interest.

However, the entrepreneur was not a cabinet member when the procedure began. Politics should not deprive a talented Ghanaian of the opportunity to contribute to their country’s prosperity.

She also stated that Ghanaians should encourage local investment and assist talented individuals who can drive economic progress and generate jobs.

This allows us to encourage tourism, hospitality, and economic growth, which will help our country in the long run. Let us create a culture that promotes local investment and celebrates Ghanaian success stories.

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4-year-old manoeuvres father’s car and slams into an electric pole

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To satisfy his curiosity, the four-year-old manoeuvred the car, leading it to collide with an electrical pole. According to eyewitnesses, the vehicle collided with the pole head-on, mangled the whole front end of the automobile before coming to a stop. Concerned spectators raced to the scene to carefully remove the youngster from the automobile. Fortunately, the event did not result in any injuries to the youngster.

A four-year-old youngster barely avoided harm after driving his father’s automobile unaccompanied in Dunkwa-on-Offin in the Central area.

The event happened when the toddler was left alone in a black SUV with the plate number GS 8757-10.

The boy’s father allegedly parked on the shoulder of the road and walked out to attend to other business.

To satisfy his curiosity, the four-year-old manoeuvred the car, leading it to collide with an electrical pole.

According to eyewitnesses, the vehicle collided with the pole head-on, and mangled the whole front end of the automobile before coming to a stop.

Concerned spectators raced to the scene to carefully remove the youngster from the automobile.

Fortunately, the event did not result in any injuries to the youngster.

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