News Guide Africa

Category: Profile

  • GCB Turnaround: Inside Farihan Alhassan’s high-growth, low-risk strategy

    GCB Turnaround: Inside Farihan Alhassan’s high-growth, low-risk strategy

    By Adnan Adams Mohammed, Financial and Economic Journalist

     

    Farihan Alhassan, the 44-year-old Managing Director of GCB Bank PLC, is no stranger to shattering age barriers. To him, youthfulness and weighty responsibility are a familiar combination. At just 26, Alhassan made history as the youngest regional manager at Barclays Bank (now Absa).

    But his personal milestones are not what has the financial world talking. The real story is how the bank he leads recently captured national headlines, staging an unprecedented financial comeback that has redefined Ghana’s banking landscape.

    In 2025, GCB Bank shattered performance records, posting an unprecedented profit before tax of GHS 3.17 billion and a staggering net profit of GHS 2.06 billion.

    This explosive growth triggered a massive rally on the Ghana Stock Exchange. In January 2025, GCB’s share price sat at a modest GHS 6.2. By December 2025, it had skyrocketed to GHS 22.5 per share. That momentum has only accelerated; at the time of going to press, GCB’s share price commands a historic GHS 36.

     

    GCB Bank Performance Indicators at a Glance

    Financial Metric 2024 / Early 2025 Late 2025 / Current (2026) Growth / Change

    Total Assets Baseline GHS 42.8 Billion +57.6% YoY

    Total Deposits Baseline GHS 34.5 Billion +58.5% YoY

    Loan Book Expansion Baseline — +52.8%

    Share Price GHS 6.2 (Jan 2025) GHS 36.0 (Current) +480.6%

    Non-Performing Loans (NPL) 15% 4.9% (Q1 2026) Down 10.1%

     

    High Volume, Low Risk

    For Alhassan, however, the ultimate victory lies not just in raw profitability, but in surgical operational efficiency. GCB has drastically elevated its underwriting standards. The bank is now aggressively extending more loans than any of its competitors, yet fewer of those loans are going bad.

    According to financial statements, GCB’s total assets surged by 57.6% year-on-year to GHS 42.8 billion far outstripping the banking industry’s average growth rate of 33.79%. This expansion was fueled by a 52.8% growth in its loan book and a 58.5% increase in total deposits, which now stand at GHS 34.5 billion.

    The Secret Sauce: A Bottom-Up Revolution

    So, what is GCB Bank doing differently? Alhassan attributes the magic trick to a radical shift in corporate culture: a strict bottom-up approach.

    “Everything is about the staff,” Alhassan emphasizes. Under his leadership, employees have been empowered to see themselves as direct architects of the bank’s strategy. In this new cultural paradigm, the bank’s failures are felt personally, and its successes are celebrated collectively.

     

    But Alhassan’s strategy wasn’t built on motivational speeches alone. The bank backed its vision with tangible rewards, effectively lubricating the “rusty parts” of its workforce’s professional lives. GCB rolled out sweeping salary increases, with some categories of workers seeing their take-home pay completely doubled.

    No Flash in the Pan

    Critics wondering if GCB’s 2025 performance was a temporary stroke of luck have already been answered by the bank’s dominant opening acts in 2026.

    In the first quarter of 2026, GCB recorded a profit before income tax of GHS 902.5 million, a massive leap from the GHS 533.1 million recorded during the same period last year. Simultaneously, the bank’s non-performing loan (NPL) ratio plummeted to an astonishing 4.9%, down from 14.9% in the previous year.

    Backed by a highly supportive board of directors led by Professor Joshua Alabi—whose imposing physical presence is matched only by his towering legacy at the University of Professional Studies, Accra (UPSA)—Alhassan remains fiercely confident.

    If the current trajectory is any indication, GCB Bank PLC has no intention of ceding its crown as the undisputed leader of Ghana’s banking industry.

     

  • Chief of Staff receives National Council of Zongo Chiefs delegation 

     

    ​The National Council of Zongo Chiefs yesterday, June 11, paid a high-profile courtesy call on His Excellency President John Dramani Mahama to formally congratulate him on his recent election victory.

    ​The Chief of Staff received the traditional rulers at the Jubilee House on behalf of the President, who was indisposed with other pressing state engagements.

    ​Warm Welcome and Strategic Vision

    ​The delegation was warmly welcomed by Alhaji Babalami Abu Sadat, the Presidential Coordinator for Inner City and Zongo Development. In his opening remarks, Alhaji Sadat expressed profound gratitude to the revered traditional leaders for their visit, stating that their presence reinforces the strong bond between the government and the Zongo communities across the country. He assured them of the administration’s unwavering commitment to inclusive development.

    ​National Concerns Tabled

    ​Beyond the expressions of goodwill and congratulations, the Council of Zongo Chiefs utilized the platform to present a memorandum highlighting critical issues of national concern that require urgent government attention. While specific details of the petition remain close to the chest of the leadership, sources close to the meeting indicate that the issues center heavily on:
    ​Infrastructure: The acceleration of roads, drainage, and social amenities within inner cities.
    ​Education and Youth Empowerment: Enhanced educational support systems and sustainable job creation opportunities for the youth in Zongo communities.
    ​Peace and Security: Strategies for maintaining social cohesion and countering emerging security threats.


    ​Government’s Assurance

    ​Responding to the delegation, the Chief of Staff commended the National Council of Zongo Chiefs for their leadership, wisdom, and proactive approach to national development.
    ​”The government views the Zongo communities not just as electoral partners, but as vital pillars in the socio-economic fabric of Ghana. Every concern raised here today will be delivered directly to the desk of His Excellency President Mahama, and you can rest assured that strategic steps will be taken to address them,” the Chief of Staff stated.

    ​The meeting concluded with an exchange of pleasantries and group photographs, symbolizing a renewed partnership between the state executive and traditional authorities aimed at pushing forward the boundaries of community development.

  • Dignity restored as KGL Foundation transforms Accra Psych OPD

     

    Mental health care in Ghana just got a massive, much-needed upgrade. In a move set to shatter long-standing stigmas, the KGL Foundation has officially handed over a sleek, ultra-modern Out-Patient Department (OPD) to the Accra Psychiatric Hospital—turning a once-dreary space into a sanctuary of dignity and healing.

    ​The extensive renovation completely overhauls the facility’s physical environment. The upgraded OPD features enhanced safety measures, modernized consulting rooms, and an inviting, patient-friendly layout designed to put visitors at ease the moment they walk through the door.

    ​Speaking at the colorful commissioning ceremony, the Chief Executive Officer of the KGL Foundation, Mr. Elliot Dadey, emphasized that a hospital’s environment is just as critical as the medicine prescribed inside it.

    ​”The physical environment of a health facility plays a crucial role in the recovery process of patients,” Mr. Dadey stated. He noted that the project was born out of an urgent need to spark lasting change and inspire private sector investment in mental health. “The upgraded facility will provide a more conducive atmosphere for treatment and care.”

    ​Receiving the keys to the renovated block, the Hospital Director of the Accra Psychiatric Hospital, Dr. Kwadwo Marfo Obeng, lauded the KGL Foundation for honoring its commitment. He described the new OPD as a revolutionary transformation that goes far beyond brick and mortar.

    ​”The renovated facility has improved the hospital’s image, enhanced safety and comfort within consulting rooms, and made the institution more welcoming to patients and visitors,” Dr. Obeng said.

    ​He further noted that the facelift serves as a powerful psychological tool to fight the deep-rooted societal bias against psychiatric institutions. “The facelift is helping to change public perceptions of mental health care and encouraging more people to seek professional support when needed,” the Hospital Director observed.

    ​The commissioning ceremony was heavily attended by key stakeholders, underscoring the national importance of the project. Among the high-profile dignitaries present were Dr. Eugene Dordoye, CEO of the Mental Health Authority; Dr. Susan Seffah, Clinical Coordinator; Dr. Peggy Asiedu Ekremet, Head of Public Relations and Deputy Clinical Coordinator; Mr. Victus Kpesese, Director of Administration at the Mental Health Authority; and Mr. Emmanuel Hanson Torde, Deputy Director of the Accra Psychiatric Hospital.

    ​With the new facility now open, officials are optimistic that the improved ambiance will reduce patient anxiety, streamline healthcare delivery, and set a new benchmark for mental health infrastructure across Ghana.

     

     

     

     

     

  • Who Creates Money in Nigeria—and How to Build Institutions for Price Stability

     

    BY ABOUBAKR KAIRA BARRY, CFA

    MANAGING DIRECTOR, RESULTS ASSOCIATES · BETHESDA, MARYLAND, USA

    KEY TAKEAWAYS

    ▸  In Nigeria, money is created mainly by commercial banks and, to a lesser extent, by the Central Bank of Nigeria.

    ▸  Between 2015 and 2024, money supply grew at 20 percent annually while real GDP per capita fell by 0.6 percent, driving inflation and eroding living standards.

    ▸  CBN reforms matter, but price stability cannot be achieved without fiscal discipline, stronger public financial management, and tighter institutional guardrails.

    ▸  Durable reform requires constitutional fiscal rules, better budget management, stronger subnational transparency, and prudent banking regulation.

    Read Full Publication Below:

    Who Creates Money in Nigeria—and How to Build Institutions for Price Stability (1)

     

     

  • Vindication With Figures: KGL’s GH¢173m payment to NLA dwarfs combined 29 competitors payment of GH¢44.9m 

     

     

    ​By Adnan Adams Mohammed

     

    An exclusive, data-backed analysis of the financial operations of the National Lottery Authority (NLA) has clarified the true revenue contributions of private lotto operators in the country, correcting months of speculative public debate.

    ​According to verified financial records for the 2025 financial year, 29 licensed private lottery companies and collaborators collectively paid a total sum of GH¢ 44,900,161.23 (approximately GH¢ 44.9 million) to the NLA. In sharp contrast, a single digital partner, KGL Technology Limited, paid GH¢ 173,360,000 (over GH¢ 173 million) to the state authority within the same period.

    ​The revelation follows ongoing public campaigns and media reports that have repeatedly questioned KGL’s operational framework and its impact on state revenue.

    ​Reacting to the heavily skewed financial figures, Mr. Foster Ayisah, a Ghanaian based journalist, criticized the targeted media commentary against the digital lottery operator, urging a more data-driven approach to industry reporting.

    ​“The constant criticisms without proper financial data are misleading,” Mr. Ayisah stated during an editorial briefing. “A comprehensive assessment requires investigating the entire business operations, management, and administration of the NLA to ascertain the real structural challenges contributing to the authority’s revenue shortfalls.”

    ​The Operational Landscape

    ​The newly emerged data explicitly refutes claims that a single entity holds an exclusive monopoly over Ghana’s lottery ecosystem. Records show that the NLA, acting under its legal mandate in Act 722, has actively issued long-term operational licenses, mostly spanning 10 to 15 years, to over 30 private collaborators, creating a broad field of active operators.

    ​Despite this level playing field, the vast majority of private operators fell significantly behind KGL’s revenue generation capacity.

    ​Breakdown of Revenue Contributions (2025 Financial Year)

    ​Note: The financial report further indicated that three registered operators—SB Business Ventures, Best Chance Lottery Company, and Diblo Lottery—did not remit any funds to the NLA for the 2025 financial year.

     

    ​Executive Review and Next Steps

    ​To address structural inefficiencies and ensure institutional stability, the executive arm of government has taken an analytical approach to the industry’s friction. Rather than altering existing valid contracts based on unverified public narratives, a specialized committee was instituted to review the NLA’s broader structural issues comprehensively.

    ​Local financial analysts and industry stakeholders are now looking forward to the outcome of upcoming consensus financial re-negotiations between the state and its primary digital driver to optimize future state revenue.

    ​”The facts and data published by the Auditor-General and the Ghana Audit Service do not support the narrative that the state is losing revenue through its current digital partnerships,” Mr. Ayisah concluded, emphasizing the need for commentators to rely on official economic data rather than speculation.

     

  • Flood Crisis: West Africa Nobles Forum demands ‘State of Emergency’ as Ghana faces looming disaster

     

     

    By Adnan Adams Mohammed

    Following weeks of devastating downpours that have submerged major cities and ground economic activities to a halt, the Eminent West Africa Nobles Forum (E-WANF) has urgently called for the declaration of a state of emergency.

    ​The President-General of the Forum, Dr. Richard Asiedu, who doubled as the Agona Kwanyako Nkosuohene has made a direct appeal to President John Dramani Mahama to invoke constitutional powers to avert an impending catastrophe and prevent further loss of human lives.

    ​According to the Forum, traditional methods of mitigating seasonal floods have officially hit a dead end. Despite the presence of public education initiatives and a Presidential Task Force designed to clear waterways, enforcement remains dangerously crippled at the local government level.

    ​”It appears the normal processes of dealing with flooding in the country have failed, including public education and the setting up of a Presidential Task Force to demolish illegal structures on waterways and unauthorized places… The Municipal, Metropolitan and Districts Assemblies are unable to effectively manage the problem of flooding in our communities… due to weak enforcement and other challenges”.

    ​Dr. Asiedu emphasized that the crisis is fundamentally driven by human behavior and a severe lack of municipal oversight, pointing out that “flooding in the country is largely due to indiscipline among residents rather than poor drainage design as human activities obstruct flow of water”.

    ​Haunted by the Ghost of June 3

    ​The recent severe weather has reawakened deep-seated trauma across the country. Recent downpours have crippled major business districts and residential areas, including Odawna (Nkrumah Circle), Weija, Kasoa Old Barrier, Dansoman, Mallam Junction, Kaneshie, Accra Central, Adenta, and Tema. Beyond the capital, major urban centers like Tamale, Kumasi, Takoradi, and Cape Coast have similarly suffered severe flooding and structural damage.

    ​The Forum noted that the current devastation feels terrifyingly familiar to the June 3, 2015, Nkrumah Circle Disaster, which claimed at least 150 lives.

    ​”The June 3, 2015 flooding (Nkrumah Circle Disaster) which killed at least 150 people, injured others, destroyed properties, including shops, goods, and structures, is still fresh in the memories of Ghanaians”.

    ​Disappearing Wetlands and Rapid Urbanization

    ​E-WANF notes that what used to be seasonal flooding has now evolved into a structural crisis. Rapid urbanization and fragmented management have led to massive encroachment on vital ecological shields. Crucial Ramsar sites around Densu, Delta, and Sakumo—wetlands meant to act as natural floodplains—are “virtually disappearing” under estate developments. Furthermore, key marshlands in the Airport area of Accra that once absorbed heavy runoff from the Akuapim Hills have been paved over by builders.

    ​With drains currently being used as “outlets for solid waste,” cities are now flooding even during relatively low rainfall.

    ​The Call for Drastic Constitutional Action

    ​With the Ghana Meteorological Authority warning of even heavier rains ahead, E-WANF believes nothing short of emergency executive powers can correct the course. Dr. Asiedu is urging President Mahama to invoke Article 3.1 (9) of the 1992 Constitution to bypass bureaucratic delays, deploy security agencies, and aggressively dredge and demolish structures blocking water channels.

    ​”President Mahama should, therefore, invoke Article 3.1 (9) of the 1992 Constitution, as another option, to facilitate demolitions, dredging, and deployment of security agencies, in flood-prone areas, to bring ‘environmental discipline,’ especially concerning the building of structures”.

    ​As the country braces for the coming months, the Forum states that the National Disaster Management Organization (NADMO) must aggressively step up its public education, push early warnings, and wage a fierce campaign against building on waterways. However, without the swift declaration of a state of emergency to force “environmental discipline,” the country remains at the mercy of the next downpour.

     

  • Banking executives and political gurus celebrate Joseph Mensah Abakah on milestone birthday

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    Warm tributes, corporate congratulations, and well-wishes have poured in from both the banking sector and political circles as Mr. Joseph Mensah Abakah celebrates a major milestone birthday.

    ​Recognized as a versatile leader balancing high-level corporate responsibilities with grassroots community development, Mr. Abakah’s dual impact has been highlighted in a series of celebratory announcements by colleagues, corporate leadership, and associates.

    ​Corporate Tributes Fly High at Agricultural Development Bank

    ​Within the financial sector, the Agricultural Development Bank (ADB) Ghana PLC formally recognized Mr. Abakah’s vital role in driving institutional growth.

    ​As captured in the several flyers shared on social media by the bank celebrated his dedicated service under his corporate designation as a Major Market Account Executive. The institution extended its appreciation for his strategic contributions toward reinforcing ADB’s market portfolio.

    ​Dual Roles: Championing MSMEs and Regional Organization

    ​Beyond his corporate duties, Mr. Abakah’s broader institutional footprint spans critical administrative and developmental roles within the bank, as well as notable political leadership in the Central Region.

    ​In a comprehensive tribute shared by close associates, projected Mr. Abakah as an “inspiring leader” whose vision, guidance, and dedication continue to motivate those around him.

    The tribute highlighted his expanded organizational oversight at the bank.

    ​”Congratulations on this milestone. Your vision, guidance, and dedication inspire all of us every day. May your year ahead be filled with joy, good health, and memorable moments,” the statement read, marking many more years of shared success and happiness.

     

     

     

    ​The dual outpour of support from both corporate colleagues at ADB Ghana PLC and his political associates reflects Mr. Abakah’s influential reputation as a dedicated professional committed to socio-economic progress, business facilitation, and community empowerment.

     

     

     

     

  • Chief of Staff charges National Prayer Committee to innovate for national cohesion

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    The Chief of Staff, Dr. Julius Debrah, has urged the National Day of Prayer and Thanksgiving Planning Committee to look beyond mere administrative compliance and approach their mandate as a sacred national obligation.

    ​He tasked the committee to introduce innovative ideas and pragmatic initiatives that will amplify the impact of the programme, particularly in fostering national cohesion and accelerating Ghana’s development.

     

    Delegation from the National Prayer and Thanksgiving Planning Committee at the Office of Chief of Staff

    ​Dr. Debrah made these remarks when a delegation from the committee, led by Hon. Elvis Afriyie-Ankrah, paid a courtesy call on him at the Flagstaff House to officially apprise the Presidency of preparations for this year’s upcoming National Day of Prayer and Thanksgiving, slated for July 1.

     

    ​Presidential Commendation and High Optimism

    ​During the deliberations, the Chief of Staff conveyed President John Dramani Mahama’s commendation to the committee for the successful execution of last year’s event.

    ​According to Dr. Debrah, President Mahama regards the annual observance as a crucial national initiative that cultivates unity, gratitude, and collective responsibility in nation-building.

    ​”The President is optimistic about an even bigger and more impactful celebration this year, with broader national participation and strengthened outcomes,” Julius Debrah stated, emphasizing the executive’s deep commitment to the spiritual and social health of the country.

    ​Strategic Consultations for a Unified Nation

    ​The engagement forms part of the committee’s strategic stakeholder consultations designed to ensure a meticulously coordinated and impactful national observance. The National Day of Prayer and Thanksgiving serves as a solemn platform that continues to galvanize reflection, unity, and national renewal across the country.

    ​Responding to the Chief of Staff’s charge, members of the committee expressed their profound appreciation for the Presidency’s unwavering support. They reaffirmed their resolve to orchestrate a well-structured and deeply meaningful event that truly embodies the values and aspirations of all Ghanaians.

    ​The July 1 observance is expected to convene faith leaders, government officials, civil society actors, and citizens from all strata of society in a unified moment of introspection and collective gratitude.

     

     

     

  • ​NPA Boss Edudzi Tameklo honoured with ‘Outstanding Public Leadership Excellence’ award ​

     

    By Adnan Adams Mohammed

     

    The Chief Executive of the National Petroleum Authority (NPA), Godwin Kudzo Tameklo, has been targeted with high praise and prestigious recognition at the landmark 10th Ghana CEO Summit held in Accra.

    ​Mr. Tameklo was conferred with the Outstanding Public Leadership Excellence Award, a testament to his exceptional leadership, visionary governance, and unwavering dedication since taking the helm of the country’s petroleum downstream regulatory body in January 2025.

    ​A Well-Deserved Recognition

    ​The award highlights Mr. Tameklo’s transformative impact over the past year and a half. Industry players and observers at the summit widely agreed that the accolade is well-deserved, pointing to his strategic reforms that have strengthened regulatory compliance, enhanced operational efficiency, and fostered transparency within the petroleum sector.

    ​Under his watch, the NPA has not only tightened its regulatory grip to curb illicit fuel trade but has also actively engaged stakeholders to ensure stability and fairness in the market.

    ​”A Leader for the People”

    ​Beyond his corporate and regulatory achievements, the honour has sparked widespread celebration among the public and grassroots supporters, many of whom describe him as a uniquely accessible and selfless leader.

    ​”He is one of the appointees who really supports the base. He remains one of the most selfless CEOs in the public sector today,” noted an industry insider, echoing the sentiments of many who have watched his trajectory.

     

    ​Colleagues, friends, and well-wishers across the country have flooded social media and public spaces with congratulatory messages, urging the NPA boss to keep up his exemplary work and continue lifting the standard of public service in Ghana.

    ​With this latest feather in his cap, Godwin Kudzo Tameklo cements his reputation not just as a stellar corporate executive, but as a blueprint for impactful public leadership.

     

  • IGP petitioned over NUGS President’s “Mass Action” threat against Gold Fields Ghana

     

    A formal petition has been filed with the Inspector General of Police (IGP) calling for the immediate investigation and restraint of the President of the National Union of Ghana Students (NUGS).

    The petition, submitted by a veteran financial and economic journalist, mining health and safety professional, and Executive Director of Muyad Social Services, Adnan Adams Mohammed, follows highly inflammatory public statements made by the student leader.

    ​The NUGS leader’s remarks, reported widely across national media platforms on May 30, 2026, under headlines such as “Xenophobia: NUGS President warns of mass action if gov’t renews Gold Fields lease,” threatened nationwide “mass action” if the government moves forward with the statutory renewal of commercial mining leases for Gold Fields Ghana.

    ​The petition strongly condemns the NUGS President’s ultimatum as a predetermined incitement of violence, economic sabotage, and a direct threat to national security. It notes that the student leader’s rhetoric relies on a dangerous misrepresentation of the 1992 Constitution and displays a total ignorance of the Minerals and Mining Act, 2006 (Act 703).

    ​”For an individual who claims the status of a lawyer to stand before the public and confidently misquote the supreme law of the land to justify lawlessness is a professional disgrace,” the petitioner stated. “It brings into serious question how this individual managed to qualify as a legal practitioner in our Republic.”

    ​Key Grounds of the Petition:

    ​Predetermined Incitement to Crime: The petition argues that calling for “mass action” against high-risk industrial installations like mining concessions violates Section 172 of the Criminal Offences Act, 1960 (Act 29), which prohibits the instigation of riots and unlawful assemblies to disrupt lawful corporate and state processes.

    ​Constitutional Misrepresentation: The NUGS President claimed the state has an absolute mandate to arbitrarily reject lease renewals. The petition points out that while Article 257(6) vests minerals in the President in trust for the people, Article 18 guarantees the right to private property, and Article 20 strictly outlines the rigorous, non-arbitrary conditions and due process required for any form of compulsory acquisition.

    ​Ignorance of Mining Operations: The NUGS leader wrongfully linked a commercially prudent, lawful asset-reallocation strategy by Gold Fields Ghana to external factors completely outside the company’s control and jurisdiction. Large-scale mining operates under multi-year Life-of-Mine (LoM) plans governed by Section 44 of Act 703, where lease renewals are evaluated by the Minerals Commission based on technical competence, safety compliance, and financial capability—not populist coercion.

    ​Xenophobic Economic Sabotage: The petition warns that weaponizing xenophobia against major multinational investors destroys Ghana’s reputation as a stable, predictable jurisdiction for Foreign Direct Investment (FDI), risking capital flight and economic instability.

    ​Prayers to the Ghana Police Service:

    ​Through the petition, the IGP and the National Police Headquarters are being respectfully urged to:

    ​Invite and Interrogate the NUGS President regarding the logistics, timeline, and criminal intent behind his public threats of “mass action.”

    ​Issue a Formal Restraining Warning to the NUGS executive body regarding their criminal liabilities under Act 29 should any student-led action result in property damage or breach of peace.

    ​Deploy Heightened Security Assessments around targeted mining installations to safeguard workers, local communities, and critical national economic assets.

    ​”We must remain a nation governed by the sober dictates of the law, not the reckless ambitions of populist agitators who twist our constitution for public applause,” the petitioner concluded.