News Guide Africa

Category: Technology

  • Cybercrime risk signals need for stronger digital security investments in African fintech

    Cybercrime risk signals need for stronger digital security investments in African fintech

    By Adnan Adams Mohammed

    Rising cyber threats powered by artificial intelligence and expanding mobile money fraud are highlighting the need for stronger security infrastructure across Africa’s financial and telecommunications sectors.

    According to the newly released African Cyberthreat Assessment Report 2026 by INTERPOL, artificial intelligence is now utilized in 55 percent of all reported cybercrimes across the continent.

    The integration of AI technologies has enabled cybercriminals to deploy faster, automated, and highly sophisticated attacks, contributing to total reported financial losses more than doubling from $192 million in 2024 to $484 million in 2025.

    The escalation of digital fraud presents both operational risks and strategic capital opportunities for institutional investors, venture capital funds, and technology providers active in emerging markets.

    Neal Jetton, Cybercrime Director at INTERPOL, emphasized the systemic challenge posed by these rapidly shifting risks.

    “This edition of the INTERPOL African Cyberthreat Assessment paints a clear picture of a threat landscape in flux, with emerging dangers like AI-driven fraud that demand urgent attention,” Jetton noted. “No single agency or country can face these challenges alone.”

     

    A key driver of this expanding attack surface is Africa’s rapid digital adoption, with mobile subscribers surpassing 1.1 billion in 2025. However, security gaps in mobile money ecosystems and commercial platforms continue to leave consumers and businesses vulnerable to phishing, credential harvesting, and identity manipulation.

    In West Africa, where mobile money penetration remains central to financial inclusion, fraud schemes continue to impact transaction volumes and market trust. Simultaneously, INTERPOL found that 72 percent of surveyed countries reported the presence of organized criminal scam centers, with heavy concentrations located in West and Southern Africa.

    Ambassador Jalel Chelba, Acting Executive Director of AFRIPOL, highlighted the broader economic implications of cyber vulnerability for regional growth and investor confidence.

    “Cybersecurity is not merely a technical issue; it has become a fundamental pillar of stability, peace, and sustainable development in Africa,” Chelba stated. “It directly concerns the digital sovereignty of states, the resilience of our institutions, citizen trust, and the proper functioning of our economies.”

     

    With 90 percent of African member states indicating a need for substantial upgrades in threat intelligence, incident reporting systems, and prosecution capabilities, market analysts anticipate increased capital allocation toward private-sector cybersecurity ventures, real-time threat detection technologies, and institutional compliance frameworks.

     

  • Technology-Driven ports reforms yield $300m revenue surge – Finance Minister reveals

    Technology-Driven ports reforms yield $300m revenue surge – Finance Minister reveals

    By Adnan Adams Mohammed

     

    An artificial intelligence platform deployed across Ghana’s ports has generated more than $300 million in additional revenue over three months, reflecting the impact of technology-led compliance measures at the Ghana Revenue Authority (GRA).

    Presenting the 2026 Mid-Year Fiscal Policy Review in Parliament, Finance Minister Dr. Cassiel Ato Forson explained that the Publican AI platform introduced by the Customs Division in March 2026 has significantly curbed trade misinvoicing and manual valuation loopholes.

    The automated verification system has driven a 17.5% increase in assessed import values, delivering a 17% rise in monthly customs revenue without adding new levies or increasing import volumes.

    Closing Leakages Without Raising Taxes

    Delivering the mid-year budget statement, Dr. Forson highlighted that technology-driven compliance tools have proven far more effective at boosting state coffers than hiking tax rates on businesses and citizens.

    “Since the introduction of these AI-powered customs reforms, monthly Customs revenue has increased by approximately 17 percent, reflecting stronger compliance, more effective enforcement, and significantly reduced leakages,” Dr. Forson told Parliament.

     

    The Finance Minister emphasized that the revenue growth was achieved alongside broad fiscal relief measures, including the abolition of several levies.

    “The results have been remarkable,” Dr. Forson stated. “Despite abolishing multiple taxes and introducing no new tax handles, non-oil tax revenue increased by 0.5 percent of GDP from 12.6 percent of GDP in 2024 to 13.1 percent of GDP in 2025. Simply put, Government collected more revenue even after abolishing nuisance taxes.”

    “The lesson is simple: better policy, stronger compliance, and smarter administration will always deliver more sustainable revenue than higher taxes.”

     

    How Publican AI Transforms Port Operations

    Before the deployment of AI-based verification, customs collections faced significant shortfalls caused by under-declaration of cargo, fraudulent misclassification using Harmonised System (HS) codes, and manual inspection bottlenecks at entry points such as Tema Port.

    The Publican AI system addresses these vulnerabilities by cross-referencing global supply chain data, historical trade trends, and live market pricing to flag suspicious shipments automatically. High-risk containers are flagged for targeted inspection, while compliant consignments move rapidly through automated clearings.

    To consolidate these gains, the Ministry of Finance has also recentralized the Customs Technical Services Bureau (CTSB) into a single-window valuation node and restricted the transit of sensitive goods via land borders to direct port processing.

    Broader Macroeconomic Impact

    The $300 million revenue uplift forms part of a wider macroeconomic recovery outlined in the 2026 mid-year review. Real GDP growth reached 6.0% in the first half of the year, outperforming the initial target of 4.8%, while inflation dropped to 5.3%.

    Key drivers cited in the budget report included:

    ● Gross International Reserves: Reached five months of import cover, supported by $15 billion in foreign exchange inflows generated through the Ghana Gold Board (GoldBod) initiative.

    ● Debt Servicing Savings: Reduced interest payment overheads amounting to over GH¢15 billion due to exchange rate stabilization.

    ● Expenditure Control: Total first-half expenditure stood at GH¢143.7 billion (47.5% of the annual budget), keeping the overall fiscal deficit within target parameters.

    Parliamentary leaders praised the port technology results, with the Majority side hailing the integration of AI as a turning point for domestic revenue mobilization and institutional transparency in Ghana’s trade ecosystem.

     

  • Sremanu Telecom Network Project Set to Begin as Construction Materials Arrive

    Sremanu Telecom Network Project Set to Begin as Construction Materials Arrive

    Residents of the Wuxor, Have, and Sremanu Electoral Area in the Akatsi South Municipality are expected to witness a major improvement in mobile network connectivity following the delivery of construction materials for the long-awaited telecommunications network pole project at Sremanu.

     

    The Assemblymember for the Electoral Area, Hon. Japhet Festus Gbede, announced the development in a statement, describing it as a significant milestone in efforts to bridge the communication gap that has affected the area for years.

    According to him, work on the project is expected to commence in the coming days, bringing renewed hope to residents who have long struggled with poor mobile network services.

     

    He noted that the project will not only improve communication but also promote economic activities, facilitate access to digital services, support education, and enhance emergency response within the beneficiary communities.

     

    Hon. Gbede attributed the success to sustained advocacy, constructive engagement, and effective collaboration among key stakeholders, stressing that the achievement demonstrates that committed leadership and collective efforts can deliver meaningful development.

     

    “This marks another important step in our determination to ensure that the people of Wuxor, Have, and Sremanu enjoy the benefits of modern communication infrastructure,” he said.

     

    The Assemblymember expressed gratitude to the Member of Parliament for Akatsi South and First Deputy Speaker of Parliament, Rt. Hon. Bernard Ahiafor, the Municipal Chief Executive, Hon. Daniel Dagba, Mr. Tony Ahiagbeame, Dr. Segla, and the Chief Executive Officer of the Ghana Investment Fund for Electronic Communications (GIFEC) for their invaluable support and commitment towards the realization of the project.

     

    He reaffirmed his commitment to championing initiatives that improve the living conditions of his constituents, adding that his vision of making the Wuxor, Have, and Sremanu Electoral Area a model of development is steadily becoming a reality.

     

    The telecommunications network project is expected to significantly improve mobile phone coverage and internet connectivity in Sremanu and surrounding communities, addressing one of the area’s longstanding infrastructure challenges.

  • KGL Group and GMTF break ground for diagnostic centre at Ridge hospital

    KGL Group and GMTF break ground for diagnostic centre at Ridge hospital

    By Adnan Adams Mohammed

     

    In a major boost to healthcare infrastructure, the Ghana Medical Trust Fund (GMTF) and KGL Group, through the KGL Foundation, have officially kicked off the implementation phase for a state-of-the-art diagnostic centre at the Greater Accra Regional Hospital (Ridge).

    ​The milestone follows a joint site inspection led by the Administrator of the Ghana Medical Trust Fund, Adjoa Obuobia Darko-Opoku, and the Executive Chairman of KGL Group, Alex Apau Dadey.

    ​Going Beyond the Ask

    ​The initiative stems from a call to action issued by the GMTF on February 5, urging Corporate Ghana to assist in retooling Ridge Hospital with modern medical equipment. KGL Group responded with an investment that exceeded initial expectations funding the total construction and outfitting of a standalone, single-roof diagnostic facility.

    ​Once completed, the modern centre will house a comprehensive suite of advanced diagnostic equipment, including:

    ​Magnetic Resonance Imaging (MRI) machine

    ​CT scanner

    ​Digital Mammography unit

    ​Digital X-ray machine

    ​Fluoroscopy unit

    ​Transforming Patient Outcomes

    ​The specialized facility aims to resolve long-standing diagnostic bottlenecks in the public health system, allowing doctors to detect and treat complex medical conditions with greater accuracy and speed.

    ​Speaking during the project walkthrough, GMTF Administrator Adjoa Obuobia Darko-Opoku commended KGL Group for stepping up as a key corporate partner.

    ​”We are deeply grateful to KGL Group for responding to our call with such an extraordinary commitment. This partnership demonstrates what can happen when Corporate Ghana and the Government come together to transform healthcare and improve lives. Truly, Mahama Cares!”

    ​Highlighting the vision behind the initiative, Alex Apau Dadey, Executive Chairman of KGL Group, emphasized the private sector’s responsibility in driving national development.

    ​”When the call came to retool Ridge Hospital, we recognized that providing individual equipment wasn’t enough to solve the systemic challenge. Investing in a fully integrated, state-of-the-art diagnostic centre ensures sustainable, long-term impact for thousands of Ghanaians who deserve access to world-class medical care right here at home.”

    ​Strengthening Tertiary Care

    ​Hospital authorities and health advocates have praised the partnership, noting that housing all major imaging and diagnostic services under one roof will dramatically reduce wait times, lower referral delays, and lessen the financial strain on families seeking specialized care.

    ​The construction phase is officially underway, with both teams committing to swift execution to bring the facility into operational status as quickly as possible.

  • Akyem Abuakwa: Chief of Staff unveils plan for mega palm processing factory to spur job boom

    ​
    By Adnan Adams Mohammed

    In a monumental development for local agriculture and industrialization, the government has announced an ambitious plan to establish one of the largest palm processing factories in the country right within the Akyem Abuakwa Traditional Area.

    ​The landmark initiative was unveiled by the Chief of Staff, Dr. Julius Debrah, who spoke on behalf of President John Dramani Mahama at the grand durbar of the 2026 Ohum Festival held at Kyebi.


    Delivering the executive address at Eseho, the forecourt of the Ofori Panin Fie, Dr. Julius Debrah made a passionate appeal to the Okyehene, Osagyefuo Amoatia Ofori Panin, and the area’s traditional leaders to support the state by securing the necessary land to kickstart construction.

    The announcement has catalyzed a shared vision between state authorities and the Okyeman Traditional Council to aggressively expand the local oil palm value chain.
    ​Harnessing the Potential of “Red Gold”
    ​The Mahama administration’s focus on the oil palm industry stems from a strategic push to diversify Ghana’s agricultural output and maximize rural industrialization.

    ​”President John Dramani Mahama is keen on harnessing the potential of the emerging ‘red gold’ industry and its vast value chain, which is expected to create jobs for young people,” Chief of Staff Julius Debrah told the vibrant gathering of chiefs, queen mothers, and residents.

    ​The proposed processing facility is designed to move the local economy entirely away from the mere cultivation and sale of raw palm fruits. By capturing the full value chain, the factory will process raw materials directly within the Eastern Region into high-value consumer items. Officials at the gathering highlighted that the industrial pipeline will focus heavily on producing household essentials, including high-quality soaps and cooking oil.

    ​A Twin Vision for Youth Employment

    ​The state’s industrialization drive directly complements advanced plans already set in motion by the Okyeman Traditional Council to expand its own signature project, the Okyeman Oil Palm Plantation. The combined weight of a state-backed factory and an expanded plantation is expected to serve as a massive economic engine for the region.

    ​The project aims to tackle two critical socio-economic challenges at once:
    ​Curbing Rural Unemployment: The mega-factory and expanded cultivation are anticipated to create thousands of direct and indirect jobs specifically targeted at the youth.
    ​Mitigating Rural-Urban Migration: By anchoring high-earning manufacturing jobs locally, young people will no longer feel compelled to move to major cities in search of work.

    ​To guarantee these outcomes, Hon. Julius Debrah directly petitioned the traditional leadership. He urged the Okyehene, in close consultation with his sub-chiefs across Akyem Abuakwa, to identify and safely release a contiguous, suitable tract of land dedicated entirely to the factory’s construction and long-term sustainability.

    ​A Unified Call for Development

    The 2026 Ohum Festival—celebrated under the timely theme “Rejuvenating our Customs for Sustainability and Nature Connection”—served as a masterclass in cultural heritage and state-traditional collaboration.
    ​Supporting the Chief of Staff’s address, the Minister of Local Government, Chieftaincy and Religious Affairs, Ahmed Ibrahim, reaffirmed the government’s unwavering commitment to the equitable distribution of infrastructure. He assured citizens that the administration would continuously remain accountable to Ghanaians regarding its nationwide developmental stewardship.

    ​In response, the Okyehene, Osagyefuo Amoatia Ofori Panin, welcomed the forward-thinking agricultural blueprints. Standing under the banner of Susubiribi, local leaders and enthusiastic residents expressed an overwhelming wave of support for the project. The traditional council called upon all local stakeholders to display absolute unity and maximum cooperation to translate this massive industrial blueprint into immediate reality on the ground.

  • THE SILICON REVOLUTION: AI boom upends global hardware markets, reshapes higher education, and promises labor surges

    THE SILICON REVOLUTION: AI boom upends global hardware markets, reshapes higher education, and promises labor surges

    By Adnan Adams Mohammed

     

    The rapid integration of Artificial Intelligence (AI) has advanced past a simple software trend to trigger a profound structural shift across the global economy.

    New developments across the tech landscape reveal that while the intense AI boom is driving hardware manufacturing costs to critical heights and forcing major consumer price hikes, it is simultaneously embedding itself into the daily workflows of students and prompting major industry leaders to rethink the future of the global human workforce.

    1. Hardware in Crisis: Apple Prepares Price Hikes Amid AI Chip Squeeze

    The explosive demand for high-powered data centers capable of processing complex AI algorithms has triggered an aggressive, global scramble for vital computer components. Consequently, tech giant Apple has announced unavoidable price increases across its gadget ecosystem due to an “unsustainable” surge in memory chip costs.

    The price of RAM historically one of the most affordable hardware parts has more than doubled since October 2025. This strain is worsened by the geopolitical conflict in Iran, which has heavily disrupted the global supply of helium a gas absolutely critical for semiconductor fabrication.

    In a direct address detailing the supply constraints, outgoing Apple Chief Executive Tim Cook gave a candid warning regarding the immediate future of consumer technology:

    “We’re doing our best to mitigate the huge increases that are being passed to us, and we’ve been trying to shield our customers from the increases, but the situation has become unsustainable. There’s less supply at a time when consumers want devices and the memory guys are passing along huge price increases. We definitely need memory pricing and supply to return to reasonable levels for consumer products. That’s the bottom line.”

    Market tracking firm Omdia estimates that the average selling price of smartphones globally will jump by roughly 20% in 2026, with upcoming AI-enabled iPhones expected to retail for up to $150 more than previous models.

    # The Domestic Manufacturing Pivot

    In a sudden, high-stakes attempt to insulate American supply chains from these international constraints, U.S. President Donald Trump announced via Truth Social that Apple has agreed to pivot a portion of its core hardware dependencies domestically. Trump stated that Apple will work directly with Intel to design and manufacture its chips inside the United States, reducing its reliance on Taiwan Semiconductor Manufacturing Company (TSMC) amid the aggressive global chip rush.

    2. The New Study Companion: AI Tools Overtake Traditional Libraries

    While corporate boards grapple with manufacturing costs, the software itself is completely transforming the educational sector. A random survey conducted by the Ghana News Agency (GNA) revealed a significant behavioral shift among youth, who are increasingly replacing traditional libraries with digital platforms and interactive AI systems for active learning and research.

    AI-powered applications have quickly evolved into highly efficient personal study companions, utilized daily to condense large academic texts, interpret dense scientific formulas, and eliminate hours of manual research.

    Miss Sarah Mensa, a university student, explained how instant digital availability has altered her generation’s foundational study habits:

    “When I need information, I simply use TikTok, YouTube or an AI tool because it takes only a few minutes to find explanations on almost any topic. Our generation prefers quick access to information, and TikTok gives you information instantly, and AI tools can answer questions within seconds.”

    Echoing the permanence of this trend, university graduate Kofi Boateng highlighted the unparalleled accessibility that physical educational spaces simply cannot match:

    “If I have a question late at night, I can use AI immediately; I do not have to wait until a library opens the next day.”

    3. Work of the Future: Bezos Dismisses Mass Displacement Fears

    The rapid, deep adoption of AI in both academic and industrial settings has naturally amplified public anxiety regarding massive human labor displacement. However, speaking at the VivaTech conference in Paris, Amazon founder Jeff Bezos firmly rejected the popular narrative that AI will render humans obsolete.

    Instead, Bezos argued that the massive scale of automation will open entirely new avenues of industrial and commercial creation, ultimately resulting in a structural labor shortage rather than widespread unemployment.

    Addressing the global conversation surrounding job security, Bezos emphasized that human capability remains the primary bottleneck to technological execution:

    “We have an endless set of things to invent and we are only limited –– today, we are only limited not by our imaginations but by what we can actually do.”

    Navigating the Dual Realities of Progress

    As the world maneuvers through this intense phase of technological evolution, the dual nature of the AI revolution is becoming distinctly clear.

    On one end, consumers must brace for a “new pricing reality” where smart devices carry premium price tags to cover skyrocketing hardware expenses.

    On the other hand, the technology continues to serve as an equalizer for human productivity democratizing access to high-level information for students, creating new economic opportunities, and challenging global industries to build resilient, local production pipelines.

     

  • Lottery Industry Showdown: GLOA concedes market dominance to KGL, shuns revenue-driven comparison 

     

    ​By News Desk

     

    ​The Ghana Lotto Operators Association (GLOA) has officially broken its silence on the brewing revenue debate within the nation’s lottery sector, confirming the undisputed market dominance of tech-lottery giant KGL Group.

    GLOA, in a press statement issued last week, the association urged state officials, the media, and the general public to halt immediate comparisons between the financial contributions of private operators and those of KGL, describing such parallels as fundamentally flawed given the vastly different operational frameworks.

    ​The statement, explicitly pleaded with stakeholders “not to compare the GHS 44.9 million paid by some 29 licensed Private Lotto Operators to the National Lottery Authority (NLA) to the over GHS 173 million paid by KGL to the same institution.” GLOA went a step further to formally crown KGL as the single largest contributor to the NLA’s revenue generation pipeline for the Republic.

    ​Revenue vs. Employment: The Mandate of Act 722

    However, ​at the heart of the association’s argument is a return to the foundational legal text governing the lottery sector.

    Consequently, in a statement authored by lotto industry expert, Dr Razak Kojo Opoku, pointed out that under Section 2(1) of the National Lotto Act, 2006 (Act 722), the legislative intent is crystal clear.

    ​”National Lotto shall be conducted for the purpose of raising revenue for the nation and for other purposes stated in this Act,” the statute dictates.

    ​”Per Section 2(1) of Act 722, KGL has proven its worth in salt by helping the National Lottery Authority to fulfill its number one objective for which the Authority was established,” the Dr Kojo Opoku said in the statement.

    ​The association argued that critics often misunderstand the primary purpose of the NLA. “The primary purpose of establishing NLA is raising revenue for the nation, not principally employment creation or engaging in grassroots economic activity,” Dr Kojo Opoku clarified, swiftly added that “generating revenue automatically leads to jobs creation and grassroots economic activity whether via its USSD platform, point of sale terminals, or paper-based coupons.”

    National Lottery Authority (NLA) Contributions ─────────────┬────────────

    │ Entity                     │Amount Paid to NLA

     

    │ KGL Group            │ GHS 173.0 Million      │

    │ 29 Lotto Operators│ GHS 44.9 Million

     

     

    A Paradigm of Different Business Models

    ​The association clarified that the two entities operate in entirely different legal and operational spheres. While KGL operates legally as a registered collaborator under Section 2(4) of Act 722, private operators have a more fragmented legal standing. The statement admitted that private operators are not explicitly recognized under Act 722 as either Lotto Marketing Companies or formal collaborators, requiring them to instead be regulated under Section 22(1) of the Veterans Administration, Ghana Act, 2012 (Act 844).

    ​However, GLOA did not entirely shield its own members from criticism regarding the massive revenue gap. Despite KGL’s staggering GHS 173 million yield, GLOA acknowledged that private operators collectively still command a massive 70% to 80% share of the physical lottery market.

    ​”It is not inherently flawed to compare GLOA’s 44.9 million cedi to KGL’s 173 million cedi because GLOA and its members still control 70–80% of the market share,” the statement candidly remarked. “Therefore, it is expected that GLOA would do better than making GHS 44.9 million payments to the Republic through NLA.”

    ​The Half-Dollar Billion Illusion: Tech Architecture Costs Money

    ​Addressing critics who claim KGL holds an unfair advantage through exclusive digital access, the expert slammed the narrative that digital success is automatic. The association stressed that staking lottery numbers is an optional civic duty rather than a mandatory tax, meaning consumer acquisition requires aggressive, high-capital strategies.

    ​”It takes extremely huge investments into modern I.T. infrastructure, software systems integrations, ISO Certifications, and marketing to achieve the needed results in mobile-based transactions,” Dr Kojo Opoku stated.

     

    ​The association estimated the price tag for such dominance to be astronomically high: “Attaining competitive advantage in that space is not by mouth, but an expensive capital investment of about $500 million to $1 billion to have the kind of infrastructure architecture that KGL is currently operating in partnership with the Mobile Network Companies.”

    The industry expert pulled no punches in dispelling myths surrounding digital platforms, calling out historical misinformation. “It is a lie for anyone to say that access to a dedicated USSD platform substantially expands transaction volumes while reducing operational complexity.”

    ​To back this claim, the statement highlighted a history of failed digital lottery initiatives managed by the NLA and prior collaborators:

    ​Mobi Game 2 Sure (2008): Failed to achieve sustainability.

    ​Mobile 5/90 (2015–2017): Brought in a meager GHS 517,967.50 in 2015, crawled to GHS 1.25 million in 2016, and plummeted to GHS 367,812.30 in 2017 before being abruptly shut down by the NLA due to poor performance.

    ​*890# Short Code Projects (2020): The VAG Lottery Intake and NLA 5/90 VAG intakes generated a dismal GHS 31,786.85 and GHS 938,005.14 respectively, forcing the NLA and Tekstart Afrika Limited to cease operations completely.

    ​”These historical failures of the aforementioned digitalization projects by NLA and previous collaborators cement and confirm that the success story of KGL did not come easy or cheap,” Dr Kojo Opoku argued. “It came through tremendous work, dedication, and investments.”

    ​Sustaining a Heavy Overhead and Over 1 Million Livelihoods

    ​According to Dr Kojo Opoku, KGL carries an infrastructure maintenance burden that dwarfs the operational costs of traditional paper-coupon operators. The association challenged its own peer network, asking, “Which member of GLOA, or can the combined resources of GLOA, match up to the unprecedented financial investments that KGL has poured into the sustainability of its operations at no financial cost or risk to NLA?”

    ​These expenditures include multi-million dollar investments into telecommunications alignment, advanced cybersecurity firewalls to block fraud, the direct payment of winning national lotto tickets, and robust Corporate Social Responsibility (CSR) campaigns.

     

    KGL’s Annual Economic Footprint to NLA Funds

     

    │NLA Stabilization Fund│ GHS 3.0 Million

     

    │NLA Good Causes Foundation │ GHS 2.0 Million

     

    │Total Ecosystem Contribution │ > GHS 1.0 Billion

     

    (Note: KGL’s individual fund contributions of GHS 3M and GHS 2M each outpace the GHS 1.5M license fee paid by single private operators).

    ​Beyond statutory requirements, Dr Kojo Opoku praised KGL’s wider impact on the Ghanaian economic ecosystem, noting that corporate giants like MTN, Telecel, AirtelTigo, various commercial banks, advertising agencies, and media houses remain major financial beneficiaries of KGL’s operations. Through the KGL Foundation, the group heavily funds education, healthcare delivery, and sports development, injecting over GHS 1 billion annually into the national economy and supporting millions of households.

    ​A Call for Industrial Harmony

    ​Concluding the statement, Dr Kojo Opoku called for an immediate truce and a “holistic evaluation” of the lottery market, emphasizing that the sector is vast enough for all entities to thrive if modern corporate strategies are adopted.

    ​”The lottery market space is still underdeveloped, and the space is big enough to accommodate KGL, Private Lotto Operators, and other Collaborators. Industrial harmony is key for each company licensed by NLA to realize its full potential,” the statement urged.

     

    ​The association advised it members to stop fighting the digital wave and instead look inward by deploying modern Point of Sale (POS) terminals and secure paper coupons with enhanced anti-fraud features.

    ​”The Republic needs KGL to raise revenue in accordance with Section 2(1) of Act 722. The Republic also needs the Private Lotto Operators, Lotto Marketing Companies, and Collaborators to create jobs for a number of people in the kiosks across the country,” Dr Kojo Opoku concluded. “Instead of fighting and undermining each other, the stakeholders duly recognized by the National Lottery Authority should learn to peacefully co-exist.”

     

     

     

     

     

  • 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)

     

     

  • ECOWAS Regional Cybersecurity Hackathon Opens In Accra To Advance Regional Collaboration And Digital Resilience 

    ECOWAS Regional Cybersecurity Hackathon Opens In Accra To Advance Regional Collaboration And Digital Resilience 

    The fourth edition of the ECOWAS Regional Cybersecurity Hackathon, themed “Regional Collaboration through Technology: Building the Digital Future of West Africa Together,” officially commenced in Accra, Ghana, at 13:00 GMT on 9 June 2026.

     

    The event brings together some of the region’s brightest cybersecurity talents for a 48-hour competition that will run until 13:00 GMT on 11 June 2026. Over the next 48 hours, participants from 12 ECOWAS Member States will take part in practical cybersecurity challenge exercises designed to strengthen critical thinking, teamwork and problem-solving skills in responding to emerging digital threats.

    The hackathon aims to deepen regional cooperation, build local cybersecurity capacity, and support a safer and more trusted digital ecosystem across.