News Guide Africa

Tag: Thomas Ampem Nyarko

  • Ghana to host prestigious World Cocoa Foundation partnership meeting next year

    Ghana to host prestigious World Cocoa Foundation partnership meeting next year

    Ghana has officially been announced as the host nation for the highly anticipated 2027 World Cocoa Foundation (WCF) Partnership Meeting, positioning the country at the centre of the global commodities stage.

    The landmark announcement was made by the Deputy Minister for Finance, Honourable Thomas Ampem Nyarko, during an official launch event hosted by the WCF in partnership with the Ghana Cocoa Board (COCOBOD) in Accra.

    The premier global event is scheduled to take place from 16th to 19th March 2027 at the prestigious Kempinski Gold Coast City Hotel in Accra, gathering international stakeholders, policymakers, and industry giants under the theme: ‘From Origin to Global Resilience’.

    A milestone for farmer well-being and sustainability

    Addressing attendees at the launch, Hon. Thomas Ampem Nyarko emphasized the economic and social significance of hosting the global event, noting that the choice of Ghana underscores the country’s historic and foundational role in the global cocoa supply chain.

    “Securing the hosting rights for the 2027 WCF Partnership Meeting is a profound victory for Ghana, and more importantly, for our hardworking cocoa farmers,” Hon. Ampem Nyarko stated. “This meeting is expected to stimulate global dialogue on farmer well-being, to promote climate-smart agriculture, and to create an environment for shared accountability across the entire value chain.”

    The Deputy Minister further noted that the government remains committed to leveraging international partnerships to transform the agricultural sector.

    “We cannot build global resilience without prioritizing the very hands that cultivate the crop. By bringing the world to Accra, we are ensuring that the voice of the origin country the voice of the African farmer is loud, clear, and central to every policy conversation,” he added.

    Collaborative strides for the sector

    The partnership between COCOBOD and the WCF highlights a unified front in addressing the modern challenges facing cocoa production, from volatile market pricing to the severe impacts of shifting climate patterns.

    Speaking on behalf of COCOBOD, representatives expressed immense optimism regarding the upcoming 2027 event, viewing it as a strategic platform to showcase Ghana’s strides in sustainable bean sourcing.

    “The theme ‘From Origin to Global Resilience’ perfectly captures where the industry needs to go,” COCOBOD CEO, Dr Randy Abbey remarked during the launch. “Hosting this event gives us the unique opportunity to drive accountability. It is a call to action for global brands to match their sustainability promises with actionable economic support for the origins.”

    Anticipated impact

    The 2027 meeting is anticipated to draw thousands of global delegates to Accra, providing a substantial boost to the local hospitality, tourism, and aviation sectors.

    More crucially, the forum will serve as the definitive stage for hammering out new frameworks on:

    Climate-Smart Agriculture: Implementing farming strategies that mitigate deforestation and withstand extreme weather.

    Economic Viability: Elevating the standard of living and baseline pricing models for smallholder farmers.

    Shared Accountability: Ensuring ethical compliance and transparency from origin fields to retail shelves worldwide.

    As preparations officially begin, the choice of the Kempinski Gold Coast City Hotel as the venue guarantees a world-class environment for the critical negotiations and dialogues set to shape the future of cocoa for decades to come.

     

     

  • Govt approves ‘Accelerated Four-Month Payment’ plan to clear teacher arrears

    Govt approves ‘Accelerated Four-Month Payment’ plan to clear teacher arrears

    By Humu Shaibu

    In a move set to restore industrial harmony within the education sector, the Government has announced a structured, fast-track payment plan to settle all outstanding salary arrears owed to teachers across the country.

    The Deputy Minister for Finance, Thomas Ampem Nyarko, revealed the breakthrough during a stakeholder briefing, outlining a systematic disbursement schedule designed to conclude the long-standing debt by the end of the third quarter of 2026.

    The Disbursement Schedule

    According to the Deputy Minister, the strategy involves “batching” the payments to ensure teachers receive significant portions of their back-pay every 30 days. The rollout is scheduled as follows:

    ● May: Payment of four months of arrears.

    ● June: Payment of an additional four months of arrears.

    ● July: Payment of another four months of arrears.

    ● Ongoing: The cycle will repeat until the total outstanding debt is fully liquidated.

    “In May you will receive four months of arrears, June, you will receive another four months, July another four months, until the payments are concluded,” Hon. Ampem Nyarko stated, emphasizing the government’s commitment to the roadmap.

     A Boost for Teacher Morale

    The issue of arrears covering salary increments, promotions, and recruitment back-pay has been a point of friction between teacher unions and the state for several years. By committing to an accelerated four-month-per-month payout, the government aims to alleviate the financial pressure on educators and prevent potential industrial actions.

    Financial analysts suggest that this structured approach is intended to manage the state’s liquidity while providing teachers with a predictable and substantial influx of funds.

     Economic Context

    This intervention comes on the heels of several other fiscal measures aimed at cushioning public sector workers. The Ministry of Finance indicated that the funds have been ring-fenced to ensure that the schedule remains uninterrupted, regardless of other budgetary pressures.

    The leadership of the various teacher unions has expressed cautious optimism, noting that the timely execution of the May payments will be the first test of the government’s resolve.

     Looking Ahead

    The Deputy Minister urged teachers to remain dedicated to their classrooms, assuring them that the Ministry is working closely with the Controller and Accountant General’s Department (CAGD) to prevent any technical glitches during the disbursement process.

    As the first payments hit accounts next month, all eyes will be on the Ministry of Finance to see if this ambitious “4-4-4” formula finally closes the chapter on teacher arrears in Ghana.

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

  • “Unwavering and Non-Negotiable”: Ghana vows unyielding fight against money-laundering

    “Unwavering and Non-Negotiable”: Ghana vows unyielding fight against money-laundering

    By Adnan Adams Mohammed

    Ghana has sent a clear and defiant message to the international financial community: the nation’s battle against illicit financial flows is not just a regulatory hurdle, but a “firm and irreversible” national priority.

    Speaking at the high-stakes opening of the on-site Mutual Evaluation of Ghana’s Anti-Money Laundering, Counter-Terrorist Financing, and Counter-Proliferation Financing (AML/CFT/CPF) regime in Accra, Deputy Minister for Finance, Hon. Thomas Ampem Nyarko, declared that the country has moved beyond mere theory to a “path of reform, realism, and results.”

    While these evaluations are often viewed as technical obligations to global bodies like the Financial Action Task Force (FATF) and GIABA, Hon. Nyarko was quick to pivot the narrative toward Ghana’s own sovereignty and economic health.

    “Ghana’s commitment to combating money laundering, terrorist financing, and proliferation financing is unwavering,” the Deputy Minister stated. “It is a commitment rooted not only in international standards but also in our national interest and our responsibility to future generations.”

    He emphasized that safeguarding the financial system is the bedrock of preserving investor confidence and protecting the broader economy from the corrosive effects of organized crime.

    From Regulation to Results

    The Deputy Minister highlighted that Ghana no longer treats the National Risk Assessment (NRA) as a “shelf document.” Instead, it has been used as a diagnostic tool to drive aggressive reforms across sectors—most notably in the extractive industry and the burgeoning virtual assets space.

    Key pillars of Ghana’s current strategy include:

    ● Strengthened Coordination: High-level oversight through the Inter-Ministerial Committee on AML/CFT.

    ● Actionable Intelligence: Deepened collaboration between law enforcement, regulators, and the Financial Intelligence Centre (FIC).

    ● Focus on Convictions: A shift toward measurable outcomes, including successful investigations, prosecutions, and crucially asset recovery.

    A Partnership for Progress

    Addressing the team of international evaluators, Hon. Nyarko described the mission not as an interrogation to be feared, but as a “constructive partnership.” He assured the team that they would encounter a transparent system and institutions that are fully prepared to demonstrate their effectiveness.

    “As evaluators engage Ghana’s institutions in the days ahead, they will encounter systems that are transparent, institutions that are prepared, and a country determined to deepen reforms,” he said.

    The High Stakes of 2026

    The timing of this evaluation is critical. Following Ghana’s successful exit from the FATF “grey list” in 2021, the government is determined to avoid a relapse. The potential costs of failure—including higher borrowing rates, reduced foreign investment, and reputational damage—are risks the government says it is unwilling to take.

    As the evaluation process unfolds this week, the message from the Ministry of Finance remains resolute: Ghana’s stance on financial crime is “firm, enduring, and non-negotiable.”

     

     

  • Publican AI system at ports to boost revenue by 45%  …GRA assures no extra cost to importers 

    Publican AI system at ports to boost revenue by 45%  …GRA assures no extra cost to importers 

    By Adnan Adams Mohammed

    The Ghana Revenue Authority (GRA) is set to implement an Artificial Intelligence (AI) system at Ghana’s ports by February 1, 2026, to enhance revenue mobilization and reduce leakages.

     

    The Publican Digital Inspection Solution System, provided by TRUEDARE Investments Limited, will be embedded in the ICUMS software to improve efficiency and accuracy in valuation, classification, risk management, and detection of origin fraud.

     

    GRA Commissioner General, Anthony Sarpong, announced that “the AI system will increase revenue mobilization by 40-45% without introducing additional costs or levies on importers.”

     

    “The system will utilize data from shipping lines, customs ports, and technology companies to analyze information and provide insights to officers, enabling faster processing of declarations and assessments”, he added.

     

    Deputy Finance Minister, Thomas Ampem Nyarko, emphasized that the system will support compliance and trade facilitation, rather than solely focusing on enforcement.

     

    The contract, approved by Parliament in late 2025, will be rolled out in phases, starting with the Tema port.

     

    The Government has already recovered GH¢15 million in revenue from five importing companies using a new trade data verification system, which exposed falsified import records, prompting the invitation of five importers for questioning.

     

    Consequently, Hon Ampem Nyarko warned that those engaging in tax evasion will face consequences, while compliant importers have nothing to fear.

     

    He assured compliant importers that the initiative poses no threat to legitimate business operations, but warned that those engaging in tax evasion will face consequences.

     

    Importantly, the system will not replace human officers but will rather augment their efforts, providing them with informed decisions and enabling faster processing of declarations, the Deputy Minister noted.

     

    The Government aims to improve revenue mobilization and ensure accuracy in customs declarations. The new system is part of efforts to promote fairness and transparency in the customs system

  • GRA’s AI initiative at ports to boost revenue by 45% …at no cost to importers

    GRA’s AI initiative at ports to boost revenue by 45% …at no cost to importers

    By Adnan Adams Mohammed

    Ghana Revenue Authority (GRA), by February 1, 2026, will start implementation of an Artificial Intelligence (AI) system at Ghana’s ports to enhance revenue mobilization and reduce leakages.

    The system, to be provided by TRUEDARE Investments Limited, will be embedded in the ICUMS software to help the authority’s efforts to achieve efficiency and accuracy in valuation, classification, risk management, and detection of origin fraud.

    As part of GRA’s technological advancement and modernization efforts it has initiated the process of adopting the AI system that will utilize data from various sources, including shipping lines, customs ports, and technology companies, to analyze information and provide insights to officers. This will enable faster processing of declarations and assessments, reducing clearance times and increasing transparency.

    “GRA aims to increase revenue mobilization by 40-45% through the AI system, which will also improve parity and accuracy in duty assessments”, Commissioner General of GRA, Anthony Sarpong, said at a briefing session with the media.

    Mr Sarpong assured that “the AI system will not introduce additional costs or levies on importers and will not duplicate existing systems. Instead, it will complement the ICUMS platform and enhance the GRA’s ability to identify risk areas and prevent revenue loss.

    The contract, approved by Parliament late 2025, to be rolled out in phases, starting with the Tema port, to ensure a smooth transition.

    Importantly, according to the Deputy Minister of Finance, Hon Thomas Ampem Nyarko, the system will not replace human officers but will rather augment their efforts, providing them with informed decisions and enabling faster processing of declarations.

    He emphasized that the system is designed to support compliance and trade facilitation, rather than solely focusing on enforcement.

     

     

     

     

     

     

     

     

     

     

     

     

  • Mid-Year budget to clarify road contractor payments – Ampem Nyarko

    Deputy Minister of Finance, Thomas Ampem Nyarko, has announced that the government will provide detailed clarity on payments owed to road contractors in the upcoming mid-year budget review.

    The move is part of broader efforts to manage arrears and uphold fiscal discipline amid rising concerns in the construction sector over delayed payments.

    Speaking on the Citi Breakfast Show on Wednesday, July 2, Mr. Ampem Nyarko explained that a comprehensive audit of outstanding arrears has been completed by the Auditor-General in collaboration with top accounting firms. The findings, he said, revealed that some claims had been disallowed.

    “All these will be programmed in our budget. Now, the auditor general and the top accounting firms that did the auditing of the arrears have already brought some reports that have indicated that some of the amounts are being disallowed,” he said.

    He added, “So, in the mid-year budget review, Dr. Forson will report on that, and we will indicate what the audited arrears are. Then, we will also indicate the plans to clear them.”

    According to Mr. Nyarko, the government has already earmarked GHc 13 billion for arrears clearance in the 2025 fiscal year and is committed to pursuing it “religiously.”

    “Already, we have made plans for Gh¢13 billion, which we are religiously pursuing this year. In next year’s budget, we will announce another amount,” he noted.

    He further stated that allocations in the 2026 budget will support continued arrears payments, while stressing that the government is determined not to repeat past mistakes.

    “That is why we are managing the financing so well that we do not have arrears build-up, and we have given commitment authorisation so that we don’t spend above what has been budgeted for the year,” he said.

    Mr. Nyarko also criticised the previous New Patriotic Party (NPP) administration’s fiscal approach, which he claimed led to unsustainable debt accumulation.

    “Because if we go the way they [NPP] did, we will be clearing the arrears, and we will not be building up more arrears. That is not how to manage an economy,” he argued.