EDWARD AKUFFO ADDO STOLE GHANA MONEY £350 MILLION POUNDS STERLING
GABBY OTCHERE DARKO STOLE GHANA MONEY £250 MILLION POUNDS STERLING
NAPO STOLE GHANA MONEY £150 MILLION POUNDS STERLING
BAWUMIA STOLE GHANA MONEY £450 MILLION POUNDS STERLING
FREDDIE BLAY AND HIS SON STOLE GHANA MONEY 650 MILLION POUNDS STERLING
YOU BORROWED AND STOLE IT ALL. YOU BORROWED OVER $50 BILLION US DOLLARAHAVE THE NPP FORGOTTEN THE ECONOMIC HARDSHIPS THE NPP VISITED ON GHANAIAN PEOPLE? STEALING OF THE PENSIONERS MONEY, BAWUMIA FAILED ECONOMIC MESSIAH, AKUFFO ADDO REFUSING TO REMOVE HIS COUSIN-KEN OFORI ATTA-DESPITE CAUSING FINANCIAL LOSS TO THE STATE. NPP ARE DREAMERS-GHANA VOTERS ARE NOT FOOLS. REMOVE ALL THE NPP FAILED AND CORRUPT EXECUTIVES WHO ALLOWED TANI AKUFFO ADDO AND HIS FAMILY TO STEAL AND STEAL
Remove Akyem Abuakwa STOOGE Liar Bawumia, The Loser. There should NOT be another Northerner as President because President Mahama has taken that SLOT. We should NOT be afraid of the Northerners-CALL A SPADE, A SPADE. The Northerners are OVER PAMPERED-NPP gets few votes from the North of Ghana and even Bawumia-who is a Northerner could NOT change it.
The LIES that brought the LOSER DRIVERS MATE-BAWUMIA TO THE NPP FLAGBEARERSHIP WAS THAT-BECAUSE HE IS A NORTHERNER-IF HE STANDS WITH PRESIDENT MAHAMA- THE NORTHERN REGIONS OF GHANA WOULD BE DIVIDED BETWEEN BAWUMIA AND PRESIDENT MAHAMA. BUT THE NORTHERN REGIONS OF GHANA VOTED OVERWHELMINGLY FOR PRESIDENT MAHAMA. SO THE DOCTRINE OF BREAKING THE 8 YEARS WAS AN AKYEM ABUAKWA LIES AND TRICKS-THE ILLITERATE CHAIRMAN WONTUMI DID NOT SEE. ASHANTI REGION SHOULD REPLACE BCHAIRMAN WONTUMI BECAUSE YHE IS NOT A STRATEGIC THINKER. ASHANTI REGION SHOULD ALWAYS BE THE KINGMAKER OF THE NPP LEADER BECAUSE OF THE VOLUME OR NUMBER OF VOTES NPP RECEIVES IN THE ASHANTI REGION. NO REGION IN GHANA, GIVE THE NPP THE SAME NUMBER OF VOTES AS THE ASHANTI REGION DOES. SO THERE SHOULD BE WEIGHTED AVERAGE OF VOTES FOR EACH REGION AS PER THE TOTAL NUMBER OF VOTES NPP RECEIVES NATIONALLY.
Factors that contributed to NPP's election loss are:
1. Bad, cruel and reckless policies
2. The inability of the NPP leadership to restrain the ' ka a nka bi syndrome of Akuffo Addo
3. Ken Ofori Atta's OVER SIZED FINANCE MINISTRY WITH OVER REACHING POWERS TO STOP ANY VALUE FOR MONEY PROJECT EXCEPT-CREATE AND LOOT policies-
4. The unrepentant branding of disgruntled members as traitors like ALAN KYEREMATEN
5. The creation and the continuous existence of the Akyem/Kyebi mafia
5. NPP was a galamseyers party and government
6. Reckless borrowing
7. The implementation of the DDEP-STEALING OF POOR GHANA PENSIONERS SAVINGS-VERY DISTATEFUL
8. Divide and rule tactics by Akuffo Addo
9. Christians ganged against a Muslim candidate
10. NNP's betrayal of its grassroots people
11. The " mass stealing syndrome" of the selected and protected elites
12. The neglect of the Ashanti region for the Eastern region-NO PROJECT WAS COMPLETED BY TANI AKUFFO ADDO IN THE ASHANTI REGION-WHO VOTED SKIRT AND BLOUSE TO MAKE HIM PRESIDENT.
13. The pomposity of Akuffo Addo RIDING IN EXPENSIVE PRIVATE JETS and his chosen and protected elites GOING TO EUROPE FOR SHOPPING IN THE PRESIDENTIAL JET
14. Unassertive, weak and chop chop NPP leadership-THE STEALING BRIDGADE
15. The Wontumi factor-ILLITERATE WONTUMI-HE IS NOT A STRATEGIC THINKER-like displaying GOLD BARS ON TV-Womtumi is an IDIOT-Ashantis REMOVE HIM.
16. The imposition and protection of non performing MPs by Akuffo Addo and the elites of the party
17. The " mentumi ne oyi ny3 adwuma mentality of Akuffo Addo
18. The non existence of a fair internal grievance procedure or the hijacking of this machinery by Akuffo Addo
19. The hijacking and the infiltration of non entities and square pegs in round holes in the economic management team of Akuffo Addo and his Akyem mafia
20. The " merengue obiara na merete me ka" posture of Akufo Addo
21. The money na talk syndrome of the party ( moneycracy)
22. ÑPP use communicators who had fallen in favor with its grassroots
23. Communicators could not defend the badly crafted and wickedly intended policies like the DDEP, E-Levy, Agyapa, etc
24. The attempt to use of Covid and Russian- Ukraine war as a cover up for bad and wicked policies- KEN OFORI ATTA BUDGETS-DID NOT HAVE ANY CONTINGENCY MONEY, NO RISK ASSESSMENT WAS CARRIED OUT.
25. Mass fraud and corruption by government people- e.g. EUGENE ARHIN, SIR JOHN, KWABENA ADU BOAHENE
26.Dupping, fraudulent and stealing from proposed but non existed development projects
27. Non performing oversized government, creating job for the boys.
28. No value for money mentality
29. The dollar which was allowed to break the bank. The Ghana cedi lost its value in 2022 under Ken Ofori Atta and the President refused to remove him despite 98 NPP MPs went to see him and he refused to meet them-DICTATORSHIP.
30. Stagflation- high inflation matching stagnant economic growth and unemployment
31. Breakdown of respect for traditional authorities and their people where TANI Akuffo Addo ordered Chiefs to stand when greeting him. What on earth is this liliput, short and ugly Akyem Abuakwa TANI come from?
32. Loose talk by Akuffo Addo- eg, I will not develop the Kwabre community and that no one has lost his thumb and should vote against the party if he or she is dissatisfied. It is only a drug addict who will talk like this and expect his party to win election. He was let loose to speak irresponsibly by the party hierarchy
26. Etc,etc, etc and ect
The reign of President Nana Addo Dankwa Akufo-Addo may have long been over since January 7, 2025, but the very people who helped him during his 8 years in office may not all been enjoying their ‘retirements’ so well, or so quietly.
And this is for reasons aligned to promises and what appears to be a robust aim by the John Dramani Mahama government, which took over from the past one, to prosecute any forms of corruption that arose during the former administration.
These formed part of campaign promises by John Mahama and his National Democratic Congress (NDC), coming into the 2024 Election, and so far, they have been determined on achieving that.
Caught up in that, have been a number of appointees of Akufo-Addo who have ended up several investigations, or, in simple terms, whose names have been linked to controversial wealth that people believe may be, somehow, corruption related.
In this GhanaWeb article, let us take a look at some of the appointees under Akufo-Addo whose wealth came into question, generating national conversations.
In each of these cases, something happened that brought their cases into the public light, prompting national discussions and great interest.
Eugene Arhin
Eugene Arhin was the Director of Communications at the Presidency under Nana Akufo-Addo for the 8 years he was in office.
In 2021, a divorce case with his wife made it into the public, where his wife was demanding for certain reliefs in the separation process.
As part of the things she listed, she made mention of some of the properties owned by Eugene Arhin and these revelations, in the eyes of the public, generated a lot of conversations.
For many, did the Director of Communications at the Presidency, Eugene Arhin, amass all that in a space of four years, or during his time in public office?
Gloria Assan Arhin, his wife at the time, prayed the Accra High Court to grant her divorce request and also give her a number of properties, including a five-bedroom residential property (which was intended to be the matrimonial home of the parties) situated on a two-plot of land lying at East Legon in Accra; a four-storey building comprising 16 separate flats/apartments situated on a parcel of land at Bubiashie in Accra which land was acquired from a family friend of the petitioner.
She also asked for a storey building being constructed which comprised of 16 separate flats/apartments situated at Tuba-Weija in Accra.
These were but just three of the over twenty properties she sought after as part of the divorce.
Kwadwo Owusu Afriyie (Sir John)
Sir John, a former General Secretary of the New Patriotic Party (NPP), became the Chief Executive Officer of the Forestry Commission of Ghana until his death.
After his death, his will became public, generating another widespread conversation among Ghanaians. It involved a tall list of 75 properties, including houses, parcels of land, bank accounts, investments, businesses, guns and clothes.
His will also raised public concerns following the discovery that he owned lands at the Achimota Forest. This was also because President Akufo-Addo had, at the time, signed an Executive Instrument that said part of the Achimota Forest was no longer a forest reserve.
Critics said the move was a ploy to get the land into the hands of the ruling elite, an accusation the government vehemently denied.
Sir John’s ownership of parcels of lands at the Achimota Forest appeared to have heightened the deep-seated mistrust of the government and its actions.
Below are the properties as listed in the will of the late Sir John:
House on plot number GA54480 located in Ogbojo, East Legon, and acquired on February 12, 2018
House on plot number GA 55329 located at Oyarifa No. 2, acquired on May 11, 2018
House plot number GA 55475 located at Oyarifa No.1, acquired on September 27, 2017
House on plot number GA 5881 located at Adjiringanor, Accra, (white House), acquired on August 7, 2019.
A 6-bedroom house located at Patangbe, Ogbojo, near East Legon.
A 4-bedroom house located in Mempeheusem, East Legon
A 3-bedroom house on plot number TDA 4140 located in Mempehuesem, East Legon
Another 3-bedroom house on plot number TDA 4140 located in Mempehuesem, East Legon
A 4-bedroom house on plot number GA56838 located in East Legon and acquired on October 25, 2018
A 5-bedroom house located in Sakora Wonoo
A 4-storey building located in East Legon, with 10 apartments, each apartment consisting of 3-bedrooms; and five apartments, each consisting of two bedrooms.
LANDS
Two plots of land located in Ahenema Kokoben in the Ashanti Region
Two plots of land with registration number GA56921 located in Oyarifa, which were acquired on November 6, 2018.
A 5.541-acre land located in Achimota Forest held in the name of Jakaypros Limited
A 0.987-acre land located in Achimota Forest held in the name of Fasoh Limited
Unspecified piece of land located in the Achimota Forest jointly owned with Charles Owusu
An unspecified piece of land held in the name of DML located in the Achimota forest
A 5.07-acre land at the Ramsar site, Sakumono
Five plots of land located at Millenium city, Kasoa
One plot of land with certificate number GA60802, located at Mempeheusem, East Legon, acquired on December 13, 2019.
Two plots of land approximately of 0.40acres located at No.7 ARS Lane, Ogbojo, near East legon
One plot of land near the Chain Homes Estate at East Airport Hills.
A piece of land numbered plot 139 located within the Adentaman District (aka Aviation land).
PRIVATE VEHICLES
Lexus LX570 25. Ford Fusion
Lexus V6
Nissan Titan Pick Up V8
Mercedes Benz E68 Sport AMG
Honda Pilot V6
Honda Accord Sport
Toyota Landcruiser V8
Ford 150
Honda Accord 2.0 Touring
Toyota Rav 4, 2019 model
Chevrolet Cruze
Lexus Saloon Car, 2019 model
GUNS
Five pump-action guns
Clothing
BANK ACCOUNTS
National Investment Bank, account no. 1802092960501
CBG, account no. 0302239130003
GT Bank- in the name of Ruth Korkor Odonkor
GT Bank-in the name of Kwadwo Owusu Afriyie
Fidelity Bank, account no. 1060032907210
ADB, in the name of Jakaypros Limited
United States Bank, Wells Fargo, in the name of Kwadwo Owusu Afriyie
Canadian Bank Account, Royal Bank, in the name of Kwadwo Owusu Afriyie INVESTMENTS
ADB: Two million cedis (2,000,000.00), expected to mature in April 2020.
Two hundred and fifty thousand Ghana cedis (GHc 250,000) with NTHC which stood at GHc 303,720.22 as at July 31, 2019.
Joint gold production investment with Francis Owusu Joint ownership in gold production investment with:
ROTL,
FASOH
MBL HOSPITAL
Afriyie Memorial Hospital, located at Sakora Wonoo OTHER BUSINESSES
A fuel Station located at Kentinkrono in the Ashanti region
Fuel tanker vehicles (10 in number)
One teak plantation located at Nkawie in the Ashanti Region
Rubber plantation located in the Eastern Region
Stalls located at the new Kejetia market, Kumasi (3 in number)
Farms at Ejura in the Ashanti Region.
Kwabena Adu-Boahene
The last person in this list of Akufo-Addo appointees whose wealth have courted public conversations is the former Director-General of the National Signals Bureau, Kwabena Adu-Boahene.
He and his wife, Angela Adjei-Boateng, were recently detained by the Attorney General’s office following his arrest at the Kotoka International Airport (KIA).
Following his detention, Attorney General Dr Dominic Akuritinga Ayine revealed at a press conference on Monday, March 24, 2025, a list of properties acquired by both suspects since 2018.
This, he said, was established through painstaking investigations by the EOCO and the AG’s office, indicating that the properties acquired were bought using embezzled state funds.
Below is a breakdown of the properties and their estimated values under the couple’s names below:
1. No. 2 stream part drive, Mayfair Estates, LA, Accra which is estimated at $1,000,000 (valued at GH¢15,000,000)
2. No. 6 Edith Avenue, Mayfair Estates, LA, Accra
3. No. 7 Edith Avenue, Mayfair Estates, LA, Accra estimated at a value of $200,000
4. No. 8 Edith Avenue, Mayfair Estates LA, Accra estimated at a value of $97,815
5. No. 9 Edith Avenue, Mayfair Estates LA, Accra also valued at $270,000
6. No. 10 Edith Avenue, Mayfair Estates LA, Accra at $150,000, Additionally, another initial cash deposit of $500,000 was made to purchase 5 houses.
7. Vertex properties at Oyarifa Gated Estate Development. This consists of 27 houses each valued at an estimated cost of $295,000 (GH¢127,000,000).
8. Two properties in London
The AG further disclosed that an amount of up to GH¢39 million was allegedly diverted and embezzled by the suspects from the agency.
"GH¢39,462,480 went into Adu-Boahene and his wife's pockets from one transaction========================--------------------------------
See full list of properties allegedly acquired by former NAFCO CEO
« Prev
Next »
Comments (62)
Listen to Article
• Share:
•
•
•
Former NAFCO CEO, Abdul-Wahab Hanan is at the centre of fresh corruption related matters
The Attorney General and Minister of Justice, Dr Dominic Akuritinga Ayine, has disclosed that the former Chief Executive Officer of the National Food and Buffer Stock Company (NAFCO), Abdul-Wahab Hanan, is at the centre of a major corruption investigation involving the alleged acquisition of high-value assets with state funds.
LIVESTREAMED: Attorney General provides new updates on ORAL cases
Speaking at the Government Accountability Series in Accra on Wednesday, October 22, 2025, Dr Ayine said investigators from the Economic and Organised Crime Office (EOCO) have traced several luxury properties and suspicious bank transactions linked to Abdul-Wahab, believed to have been financed with proceeds of crime.
“Investigators from the Economic and Organised Crime Office (EOCO) have traced several properties and bank transactions linked to Abdul-Wahab, which they believe were funded through illicit means,” he said.
The former NAFCO boss was arrested with his wife on June 25, 2025, and detained by EOCO for two weeks before being granted bail in the sum of GH¢60 million with two sureties.
His wife was released earlier on a GH¢30 million bail.
While the opposition New Patriotic Party (NPP) has criticised the bail conditions as excessively harsh and politically motivated, Dr Ayine maintained that the government remains committed to enforcing accountability and the rule of law.
He disclosed that assets allegedly acquired with misappropriated funds include a five-bedroom house at Chain Homes, valued at $1.625 million; a three-bedroom residence at Cantonments purchased for $600,000; plots of land at Airport Development Area worth $750,000; a 17-bedroom boutique hotel in Gumani, Tamale valued at $250,000; a four-bedroom bungalow at Dzorwulu valued at GH¢4.14 million; and a 0.32-acre parcel of government land purchased for GH¢307,200.
Dr Ayine assured that all assets proven to have been purchased with stolen funds will be confiscated in line with the law.
See the list below
MRA/AE
See full list of properties allegedly acquired by former NAFCO CEO
« Prev
Next »
Comments (62)
Listen to Article
• Share:
•
•
•
Former NAFCO CEO, Abdul-Wahab Hanan is at the centre of fresh corruption related matters
The Attorney General and Minister of Justice, Dr Dominic Akuritinga Ayine, has disclosed that the former Chief Executive Officer of the National Food and Buffer Stock Company (NAFCO), Abdul-Wahab Hanan, is at the centre of a major corruption investigation involving the alleged acquisition of high-value assets with state funds.
LIVESTREAMED: Attorney General provides new updates on ORAL cases
Speaking at the Government Accountability Series in Accra on Wednesday, October 22, 2025, Dr Ayine said investigators from the Economic and Organised Crime Office (EOCO) have traced several luxury properties and suspicious bank transactions linked to Abdul-Wahab, believed to have been financed with proceeds of crime.
“Investigators from the Economic and Organised Crime Office (EOCO) have traced several properties and bank transactions linked to Abdul-Wahab, which they believe were funded through illicit means,” he said.
The former NAFCO boss was arrested with his wife on June 25, 2025, and detained by EOCO for two weeks before being granted bail in the sum of GH¢60 million with two sureties.
His wife was released earlier on a GH¢30 million bail.
While the opposition New Patriotic Party (NPP) has criticised the bail conditions as excessively harsh and politically motivated, Dr Ayine maintained that the government remains committed to enforcing accountability and the rule of law.
He disclosed that assets allegedly acquired with misappropriated funds include a five-bedroom house at Chain Homes, valued at $1.625 million; a three-bedroom residence at Cantonments purchased for $600,000; plots of land at Airport Development Area worth $750,000; a 17-bedroom boutique hotel in Gumani, Tamale valued at $250,000; a four-bedroom bungalow at Dzorwulu valued at GH¢4.14 million; and a 0.32-acre parcel of government land purchased for GH¢307,200.
Dr Ayine assured that all assets proven to have been purchased with stolen funds will be confiscated in line with the law.
See the list below
MRA/AE
v
=========================
888888888888888888888887777777777777777777789999997887989787989
Rex 1 day ago
This criminal boy has had over 17 of his assets confiscated for stealing state money,and he has the effrontry to ask accountability from somebody?Ablakwah should render an A to Z accounts to Ghanaians on the spendings,but the ... read full comment
This criminal boy has had over 17 of his assets confiscated for stealing state money,and he has the effrontry to ask accountability from somebody?Ablakwah should render an A to Z accounts to Ghanaians on the spendings,but they must speed up with the prosecution of this proud thief and jail him soon.
John,Tema 1 day ago
@ Rex
Are you paid to always come to Ghanaweb to defend the indefensible or insult NDC critics? In the Corporate world when you're given an Imprest you've to account to it with invoices & receipts. Who sign for those kids an ... read full comment
@ Rex
Are you paid to always come to Ghanaweb to defend the indefensible or insult NDC critics? In the Corporate world when you're given an Imprest you've to account to it with invoices & receipts. Who sign for those kids and how accurately can we get an audit trail? This Ablakwa will go to prison in future.
Rex 1 day ago
That's wat your peanut brain tells you,people dont go to prison when they haven't committed any wrong,Nana Boakye is walking a free man and is under no investigation today because it hasn't bn found that he stole any money,ma ... read full comment
That's wat your peanut brain tells you,people dont go to prison when they haven't committed any wrong,Nana Boakye is walking a free man and is under no investigation today because it hasn't bn found that he stole any money,maybe u can't simply comprehend wat u read,u would have understood that i even reiterated that Ablakwah must come and render an A-z accounts to the people,this guy is a criminal under investigation,just like how u guys rightfully found it fit to call for that criminal Obuasi headmaster to be suspended and even his NDC candidacy subsequently bn cancelled,same way a criminal under investigation for stealing Ghana's money can't come and flex his muscles,demanding for another person to render accounts to him,I wouldn't have spoken if it were Sammy Awuku,Nana B or any of your clean leaders.
Joko 1 day ago
@John Tema, you are a cow. All big but little brain. We the people of Ghana are happy with Samuel's explanation. The fact that Miracles Aboagye is you spokesman on this issue makes you people look stupid.
@John Tema, you are a cow. All big but little brain. We the people of Ghana are happy with Samuel's explanation. The fact that Miracles Aboagye is you spokesman on this issue makes you people look stupid.
A 55 MILLION THIEF RATHER MAKING STUPID NOISE 1 day ago
Why is the ATTORNEY-GENERAL so so LACKADAISICAL in PROSECUTING and JAILING this BUSH MONKEY AND THIEF Calling himself MIRACLES ABOAGYE??
IMPRISON THIS SILLY BOY AND CRIMINAL!!!
Why is the ATTORNEY-GENERAL so so LACKADAISICAL in PROSECUTING and JAILING this BUSH MONKEY AND THIEF Calling himself MIRACLES ABOAGYE??
IMPRISON THIS SILLY BOY AND CRIMINAL!!!
K Poku-London-UK 1 day ago
Miracles Aboagye-YOUR 17 HOUSES FIRST-WHERE DID YOU GET THE MONEY FOR YOUR 17 HOUSES?
Miracles Aboagye-YOUR 17 HOUSES FIRST-WHERE DID YOU GET THE MONEY FOR YOUR 17 HOUSES?
K Poku-London-UK 1 day ago
Miracles-Aboagye-your 17 houses FIRST. Where did you get the money for your 17 houses?
Miracles-Aboagye-your 17 houses FIRST. Where did you get the money for your 17 houses?
K Poku-London-UK 1 day ago
Who took Ghana to the IMF in 2022? It was Dr Messiah Bawumia and Ken Ofori Atta- cum Akuffo Addo- The NPP Economic Messiah-Dr Bawumia. Ghana has been to the IMF 18 times- Ghana has spend 40 years under the IMF conditions out ... read full comment
Who took Ghana to the IMF in 2022? It was Dr Messiah Bawumia and Ken Ofori Atta- cum Akuffo Addo- The NPP Economic Messiah-Dr Bawumia. Ghana has been to the IMF 18 times- Ghana has spend 40 years under the IMF conditions out of its 68 years history-Ghana IS A FAILED STATE. Dr Bawumia pls aren't you embarrassed by revelations at the PAC on revelations of crime committed by the very people u and Akuffo Addo appointed to run affairs of this country? What record are u going to defend. I have lost respect for you. A muslim without intergrity.
The World Bank has pushed back against the erstwhile Akufo-Addo administration’s long-held narrative that Ghana’s 2022 economic collapse was the result of global turmoil, the COVID-19 pandemic and the Russia-Ukraine war.
Bawumia was the Chairman of the Ghana National Economic Management Committee but he says that he was the Drivers Mate. How can a driver's mate do this when he claims he never had the chance to implement anything in government because the powers that be did not allow him. Yet he wants to claim credit for any good things that he never did yet will refuse to accept responsibility for any failure in their government. How stupid does this man think we are? You took the cedi from 4 to 17 and still had the audacity to tell us the rate of depreciation at that time was better than the previous NDC administration. What at all does this man take us for? Does he think we're stupid or what? Someone should tell this man that we haven't forgotten about the DDEP haircuts and surely we shall punish the npp again come 2028.
It insisted that the economic meltdown was “homegrown”.
In its latest 2025 Policy Notes on Ghana, the Bank made clear that while the COVID-19 pandemic and Russia’s invasion of Ukraine worsened the situation, they were not the root cause.
“The deterioration of global conditions… was not the cause of the 2022 macroeconomic crisis; rather, it merely exposed an economy already beset with deep structural vulnerabilities and precarious macroeconomic conditions,” the report said.
The government has frequently blamed external shocks for the collapse, which saw inflation spiral, the cedi plummet, and the country default on its debt.
But the World Bank said years of weak governance, fiscal indiscipline, and stalled reforms were the real culprits of Ghana's "dark days".
Interbank Market: Cedi trades at GH¢12.35 to $1
The bank also argued that the easy access to international credit and expectations of resource windfalls encouraged short-term political decisions at the expense of long-term stability.
The report noted that the cycle of expansionary spending followed by painful corrections, one that has forced Ghana into 17 IMF programs over the past 68 years, is damaging.
“Sudden macroeconomic stops and crises have led the country to request a record number of IMF programs, remaining under active IMF support for 40 out of its 68 years of history,” the Bank said.
The report also noted that more than 800,000 people were pushed into poverty in the aftermath of the 2022 crisis, with per capita incomes stuck at around US$2,200 for over a decade.
Today, more than a quarter of Ghanaians live below the poverty line, it noted.
Looking ahead, the Bank also raised alarms about Ghana’s fiscal management in the 2024 election year.
It flagged unbudgeted spending commitments of roughly US$4.8 billion, equivalent to 5.7% of GDP, much of it accumulated outside official financial systems.
“Spending indiscipline poses a critical challenge…undermining efforts to maintain fiscal discipline and compromising long-term sustainability,” the report cautioned.
Also, the energy sector arrears still cost around 2% of GDP annually, while COCOBOD’s debts reached US$1.8 billion in 2024, with interventions distorting markets and hurting farmers.
The bank warned that Ghana now stands at a critical crossroads, and temporary fixes will not be enough.
“There is an urgent need to signal a clear break from the past and a commitment to change… Success will ultimately be measured by the ability of the government to regain the trust of its citizens.”
Its recommendations are focused on restoring fiscal discipline, broadening the tax base, reforming state-owned enterprises, and enhancing governance.
Without decisive reforms, the World Bank cautions, Ghana risks remaining trapped in its cycle of crisis and bailouts for decades to come.
The man of 17 properties and multiple bank accounts miraculously just when his party was in.power is the one talking. Have you accounted for the 55 million? Oooh so you think if found guilty your Director of Communication p ... read full comment
The man of 17 properties and multiple bank accounts miraculously just when his party was in.power is the one talking. Have you accounted for the 55 million? Oooh so you think if found guilty your Director of Communication position your party appointed you with without elections will prevent you from being thrown into Jail. Go and ask Wontumi. Fool
Kwaku Tee 1 day ago
Any forensic audit on these Ghanaian returnees from SA can land Ablakwa Okudjeto in trouble or even jail. Why couldn't the Govt give them electronic I.D. Cards on arrival? They could've used that ID in the collection of that ... read full comment
Any forensic audit on these Ghanaian returnees from SA can land Ablakwa Okudjeto in trouble or even jail. Why couldn't the Govt give them electronic I.D. Cards on arrival? They could've used that ID in the collection of that GH5,500 for each person including their kids. How could Ablakwa justify that parents of those kids signed on their behalf? In this modern age with I.T. how do you carry out such an assignment in an opaque way?
K Poku-London-UK 1 day ago
===AKUFFO ADDO STOLE GHANA MONEY £900 MILLION POUNDS STERLING
KEN OFORI ATTA STOLE GHANA MONEY £400 MILLION POUNDS STERLING
EDWARD AKUFFO ADDO STOLE GHANA MONEY £350 MILLION POUNDS STERLING
GABBY OTCHERE DARKO STOLE GHANA MONEY £250 MILLION POUNDS STERLING
NAPO STOLE GHANA MONEY £150 MILLION POUNDS STERLING
BAWUMIA STOLE GHANA MONEY £450 MILLION POUNDS STERLING
FREDDIE BLAY AND HIS SON STOLE GHANA MONEY 650 MILLION POUNDS STERLING
YOU BORROWED AND STOLE IT ALL. YOU BORROWED OVER $50 BILLION US DOLLARAHAVE THE NPP FORGOTTEN THE ECONOMIC HARDSHIPS THE NPP VISITED ON GHANAIAN PEOPLE? STEALING OF THE PENSIONERS MONEY, BAWUMIA FAILED ECONOMIC MESSIAH, AKUFFO ADDO REFUSING TO REMOVE HIS COUSIN-KEN OFORI ATTA-DESPITE CAUSING FINANCIAL LOSS TO THE STATE. NPP ARE DREAMERS-GHANA VOTERS ARE NOT FOOLS. REMOVE ALL THE NPP FAILED AND CORRUPT EXECUTIVES WHO ALLOWED TANI AKUFFO ADDO AND HIS FAMILY TO STEAL AND STEAL
Remove Akyem Abuakwa STOOGE Liar Bawumia, The Loser. There should NOT be another Northerner as President because President Mahama has taken that SLOT. We should NOT be afraid of the Northerners-CALL A SPADE, A SPADE. The Northerners are OVER PAMPERED-NPP gets few votes from the North of Ghana and even Bawumia-who is a Northerner could NOT change it.
The LIES that brought the LOSER DRIVERS MATE-BAWUMIA TO THE NPP FLAGBEARERSHIP WAS THAT-BECAUSE HE IS A NORTHERNER-IF HE STANDS WITH PRESIDENT MAHAMA- THE NORTHERN REGIONS OF GHANA WOULD BE DIVIDED BETWEEN BAWUMIA AND PRESIDENT MAHAMA. BUT THE NORTHERN REGIONS OF GHANA VOTED OVERWHELMINGLY FOR PRESIDENT MAHAMA. SO THE DOCTRINE OF BREAKING THE 8 YEARS WAS AN AKYEM ABUAKWA LIES AND TRICKS-THE ILLITERATE CHAIRMAN WONTUMI DID NOT SEE. ASHANTI REGION SHOULD REPLACE BCHAIRMAN WONTUMI BECAUSE YHE IS NOT A STRATEGIC THINKER. ASHANTI REGION SHOULD ALWAYS BE THE KINGMAKER OF THE NPP LEADER BECAUSE OF THE VOLUME OR NUMBER OF VOTES NPP RECEIVES IN THE ASHANTI REGION. NO REGION IN GHANA, GIVE THE NPP THE SAME NUMBER OF VOTES AS THE ASHANTI REGION DOES. SO THERE SHOULD BE WEIGHTED AVERAGE OF VOTES FOR EACH REGION AS PER THE TOTAL NUMBER OF VOTES NPP RECEIVES NATIONALLY.
Factors that contributed to NPP's election loss are:
1. Bad, cruel and reckless policies
2. The inability of the NPP leadership to restrain the ' ka a nka bi syndrome of Akuffo Addo
3. Ken Ofori Atta's OVER SIZED FINANCE MINISTRY WITH OVER REACHING POWERS TO STOP ANY VALUE FOR MONEY PROJECT EXCEPT-CREATE AND LOOT policies-
4. The unrepentant branding of disgruntled members as traitors like ALAN KYEREMATEN
5. The creation and the continuous existence of the Akyem/Kyebi mafia
5. NPP was a galamseyers party and government
6. Reckless borrowing
7. The implementation of the DDEP-STEALING OF POOR GHANA PENSIONERS SAVINGS-VERY DISTATEFUL
8. Divide and rule tactics by Akuffo Addo
9. Christians ganged against a Muslim candidate
10. NNP's betrayal of its grassroots people
11. The " mass stealing syndrome" of the selected and protected elites
12. The neglect of the Ashanti region for the Eastern region-NO PROJECT WAS COMPLETED BY TANI AKUFFO ADDO IN THE ASHANTI REGION-WHO VOTED SKIRT AND BLOUSE TO MAKE HIM PRESIDENT.
13. The pomposity of Akuffo Addo RIDING IN EXPENSIVE PRIVATE JETS and his chosen and protected elites GOING TO EUROPE FOR SHOPPING IN THE PRESIDENTIAL JET
14. Unassertive, weak and chop chop NPP leadership-THE STEALING BRIDGADE
15. The Wontumi factor-ILLITERATE WONTUMI-HE IS NOT A STRATEGIC THINKER-like displaying GOLD BARS ON TV-Womtumi is an IDIOT-Ashantis REMOVE HIM.
16. The imposition and protection of non performing MPs by Akuffo Addo and the elites of the party
17. The " mentumi ne oyi ny3 adwuma mentality of Akuffo Addo
18. The non existence of a fair internal grievance procedure or the hijacking of this machinery by Akuffo Addo
19. The hijacking and the infiltration of non entities and square pegs in round holes in the economic management team of Akuffo Addo and his Akyem mafia
20. The " merengue obiara na merete me ka" posture of Akufo Addo
21. The money na talk syndrome of the party ( moneycracy)
22. ÑPP use communicators who had fallen in favor with its grassroots
23. Communicators could not defend the badly crafted and wickedly intended policies like the DDEP, E-Levy, Agyapa, etc
24. The attempt to use of Covid and Russian- Ukraine war as a cover up for bad and wicked policies- KEN OFORI ATTA BUDGETS-DID NOT HAVE ANY CONTINGENCY MONEY, NO RISK ASSESSMENT WAS CARRIED OUT.
25. Mass fraud and corruption by government people- e.g. EUGENE ARHIN, SIR JOHN, KWABENA ADU BOAHENE
26.Dupping, fraudulent and stealing from proposed but non existed development projects
27. Non performing oversized government, creating job for the boys.
28. No value for money mentality
29. The dollar which was allowed to break the bank. The Ghana cedi lost its value in 2022 under Ken Ofori Atta and the President refused to remove him despite 98 NPP MPs went to see him and he refused to meet them-DICTATORSHIP.
30. Stagflation- high inflation matching stagnant economic growth and unemployment
31. Breakdown of respect for traditional authorities and their people where TANI Akuffo Addo ordered Chiefs to stand when greeting him. What on earth is this liliput, short and ugly Akyem Abuakwa TANI come from?
32. Loose talk by Akuffo Addo- eg, I will not develop the Kwabre community and that no one has lost his thumb and should vote against the party if he or she is dissatisfied. It is only a drug addict who will talk like this and expect his party to win election. He was let loose to speak irresponsibly by the party hierarchy
26. Etc,etc, etc and ect
The reign of President Nana Addo Dankwa Akufo-Addo may have long been over since January 7, 2025, but the very people who helped him during his 8 years in office may not all been enjoying their ‘retirements’ so well, or so quietly.
And this is for reasons aligned to promises and what appears to be a robust aim by the John Dramani Mahama government, which took over from the past one, to prosecute any forms of corruption that arose during the former administration.
These formed part of campaign promises by John Mahama and his National Democratic Congress (NDC), coming into the 2024 Election, and so far, they have been determined on achieving that.
Caught up in that, have been a number of appointees of Akufo-Addo who have ended up several investigations, or, in simple terms, whose names have been linked to controversial wealth that people believe may be, somehow, corruption related.
In this GhanaWeb article, let us take a look at some of the appointees under Akufo-Addo whose wealth came into question, generating national conversations.
In each of these cases, something happened that brought their cases into the public light, prompting national discussions and great interest.
Eugene Arhin
Eugene Arhin was the Director of Communications at the Presidency under Nana Akufo-Addo for the 8 years he was in office.
In 2021, a divorce case with his wife made it into the public, where his wife was demanding for certain reliefs in the separation process.
As part of the things she listed, she made mention of some of the properties owned by Eugene Arhin and these revelations, in the eyes of the public, generated a lot of conversations.
For many, did the Director of Communications at the Presidency, Eugene Arhin, amass all that in a space of four years, or during his time in public office?
Gloria Assan Arhin, his wife at the time, prayed the Accra High Court to grant her divorce request and also give her a number of properties, including a five-bedroom residential property (which was intended to be the matrimonial home of the parties) situated on a two-plot of land lying at East Legon in Accra; a four-storey building comprising 16 separate flats/apartments situated on a parcel of land at Bubiashie in Accra which land was acquired from a family friend of the petitioner.
She also asked for a storey building being constructed which comprised of 16 separate flats/apartments situated at Tuba-Weija in Accra.
These were but just three of the over twenty properties she sought after as part of the divorce.
Kwadwo Owusu Afriyie (Sir John)
Sir John, a former General Secretary of the New Patriotic Party (NPP), became the Chief Executive Officer of the Forestry Commission of Ghana until his death.
After his death, his will became public, generating another widespread conversation among Ghanaians. It involved a tall list of 75 properties, including houses, parcels of land, bank accounts, investments, businesses, guns and clothes.
His will also raised public concerns following the discovery that he owned lands at the Achimota Forest. This was also because President Akufo-Addo had, at the time, signed an Executive Instrument that said part of the Achimota Forest was no longer a forest reserve.
Critics said the move was a ploy to get the land into the hands of the ruling elite, an accusation the government vehemently denied.
Sir John’s ownership of parcels of lands at the Achimota Forest appeared to have heightened the deep-seated mistrust of the government and its actions.
Below are the properties as listed in the will of the late Sir John:
House on plot number GA54480 located in Ogbojo, East Legon, and acquired on February 12, 2018
House on plot number GA 55329 located at Oyarifa No. 2, acquired on May 11, 2018
House plot number GA 55475 located at Oyarifa No.1, acquired on September 27, 2017
House on plot number GA 5881 located at Adjiringanor, Accra, (white House), acquired on August 7, 2019.
A 6-bedroom house located at Patangbe, Ogbojo, near East Legon.
A 4-bedroom house located in Mempeheusem, East Legon
A 3-bedroom house on plot number TDA 4140 located in Mempehuesem, East Legon
Another 3-bedroom house on plot number TDA 4140 located in Mempehuesem, East Legon
A 4-bedroom house on plot number GA56838 located in East Legon and acquired on October 25, 2018
A 5-bedroom house located in Sakora Wonoo
A 4-storey building located in East Legon, with 10 apartments, each apartment consisting of 3-bedrooms; and five apartments, each consisting of two bedrooms.
LANDS
Two plots of land located in Ahenema Kokoben in the Ashanti Region
Two plots of land with registration number GA56921 located in Oyarifa, which were acquired on November 6, 2018.
A 5.541-acre land located in Achimota Forest held in the name of Jakaypros Limited
A 0.987-acre land located in Achimota Forest held in the name of Fasoh Limited
Unspecified piece of land located in the Achimota Forest jointly owned with Charles Owusu
An unspecified piece of land held in the name of DML located in the Achimota forest
A 5.07-acre land at the Ramsar site, Sakumono
Five plots of land located at Millenium city, Kasoa
One plot of land with certificate number GA60802, located at Mempeheusem, East Legon, acquired on December 13, 2019.
Two plots of land approximately of 0.40acres located at No.7 ARS Lane, Ogbojo, near East legon
One plot of land near the Chain Homes Estate at East Airport Hills.
A piece of land numbered plot 139 located within the Adentaman District (aka Aviation land).
PRIVATE VEHICLES
Lexus LX570 25. Ford Fusion
Lexus V6
Nissan Titan Pick Up V8
Mercedes Benz E68 Sport AMG
Honda Pilot V6
Honda Accord Sport
Toyota Landcruiser V8
Ford 150
Honda Accord 2.0 Touring
Toyota Rav 4, 2019 model
Chevrolet Cruze
Lexus Saloon Car, 2019 model
GUNS
Five pump-action guns
Clothing
BANK ACCOUNTS
National Investment Bank, account no. 1802092960501
CBG, account no. 0302239130003
GT Bank- in the name of Ruth Korkor Odonkor
GT Bank-in the name of Kwadwo Owusu Afriyie
Fidelity Bank, account no. 1060032907210
ADB, in the name of Jakaypros Limited
United States Bank, Wells Fargo, in the name of Kwadwo Owusu Afriyie
Canadian Bank Account, Royal Bank, in the name of Kwadwo Owusu Afriyie INVESTMENTS
ADB: Two million cedis (2,000,000.00), expected to mature in April 2020.
Two hundred and fifty thousand Ghana cedis (GHc 250,000) with NTHC which stood at GHc 303,720.22 as at July 31, 2019.
Joint gold production investment with Francis Owusu Joint ownership in gold production investment with:
ROTL,
FASOH
MBL HOSPITAL
Afriyie Memorial Hospital, located at Sakora Wonoo OTHER BUSINESSES
A fuel Station located at Kentinkrono in the Ashanti region
Fuel tanker vehicles (10 in number)
One teak plantation located at Nkawie in the Ashanti Region
Rubber plantation located in the Eastern Region
Stalls located at the new Kejetia market, Kumasi (3 in number)
Farms at Ejura in the Ashanti Region.
Kwabena Adu-Boahene
The last person in this list of Akufo-Addo appointees whose wealth have courted public conversations is the former Director-General of the National Signals Bureau, Kwabena Adu-Boahene.
He and his wife, Angela Adjei-Boateng, were recently detained by the Attorney General’s office following his arrest at the Kotoka International Airport (KIA).
Following his detention, Attorney General Dr Dominic Akuritinga Ayine revealed at a press conference on Monday, March 24, 2025, a list of properties acquired by both suspects since 2018.
This, he said, was established through painstaking investigations by the EOCO and the AG’s office, indicating that the properties acquired were bought using embezzled state funds.
Below is a breakdown of the properties and their estimated values under the couple’s names below:
1. No. 2 stream part drive, Mayfair Estates, LA, Accra which is estimated at $1,000,000 (valued at GH¢15,000,000)
2. No. 6 Edith Avenue, Mayfair Estates, LA, Accra
3. No. 7 Edith Avenue, Mayfair Estates, LA, Accra estimated at a value of $200,000
4. No. 8 Edith Avenue, Mayfair Estates LA, Accra estimated at a value of $97,815
5. No. 9 Edith Avenue, Mayfair Estates LA, Accra also valued at $270,000
6. No. 10 Edith Avenue, Mayfair Estates LA, Accra at $150,000, Additionally, another initial cash deposit of $500,000 was made to purchase 5 houses.
7. Vertex properties at Oyarifa Gated Estate Development. This consists of 27 houses each valued at an estimated cost of $295,000 (GH¢127,000,000).
8. Two properties in London
The AG further disclosed that an amount of up to GH¢39 million was allegedly diverted and embezzled by the suspects from the agency.
"GH¢39,462,480 went into Adu-Boahene and his wife's pockets from one transaction========================--------------------------------
See full list of properties allegedly acquired by former NAFCO CEO
« Prev
Next »
Comments (62)
Listen to Article
• Share:
•
•
•
Former NAFCO CEO, Abdul-Wahab Hanan is at the centre of fresh corruption related matters
The Attorney General and Minister of Justice, Dr Dominic Akuritinga Ayine, has disclosed that the former Chief Executive Officer of the National Food and Buffer Stock Company (NAFCO), Abdul-Wahab Hanan, is at the centre of a major corruption investigation involving the alleged acquisition of high-value assets with state funds.
LIVESTREAMED: Attorney General provides new updates on ORAL cases
Speaking at the Government Accountability Series in Accra on Wednesday, October 22, 2025, Dr Ayine said investigators from the Economic and Organised Crime Office (EOCO) have traced several luxury properties and suspicious bank transactions linked to Abdul-Wahab, believed to have been financed with proceeds of crime.
“Investigators from the Economic and Organised Crime Office (EOCO) have traced several properties and bank transactions linked to Abdul-Wahab, which they believe were funded through illicit means,” he said.
The former NAFCO boss was arrested with his wife on June 25, 2025, and detained by EOCO for two weeks before being granted bail in the sum of GH¢60 million with two sureties.
His wife was released earlier on a GH¢30 million bail.
While the opposition New Patriotic Party (NPP) has criticised the bail conditions as excessively harsh and politically motivated, Dr Ayine maintained that the government remains committed to enforcing accountability and the rule of law.
He disclosed that assets allegedly acquired with misappropriated funds include a five-bedroom house at Chain Homes, valued at $1.625 million; a three-bedroom residence at Cantonments purchased for $600,000; plots of land at Airport Development Area worth $750,000; a 17-bedroom boutique hotel in Gumani, Tamale valued at $250,000; a four-bedroom bungalow at Dzorwulu valued at GH¢4.14 million; and a 0.32-acre parcel of government land purchased for GH¢307,200.
Dr Ayine assured that all assets proven to have been purchased with stolen funds will be confiscated in line with the law.
See the list below
MRA/AE
See full list of properties allegedly acquired by former NAFCO CEO
« Prev
Next »
Comments (62)
Listen to Article
• Share:
•
•
•
Former NAFCO CEO, Abdul-Wahab Hanan is at the centre of fresh corruption related matters
The Attorney General and Minister of Justice, Dr Dominic Akuritinga Ayine, has disclosed that the former Chief Executive Officer of the National Food and Buffer Stock Company (NAFCO), Abdul-Wahab Hanan, is at the centre of a major corruption investigation involving the alleged acquisition of high-value assets with state funds.
LIVESTREAMED: Attorney General provides new updates on ORAL cases
Speaking at the Government Accountability Series in Accra on Wednesday, October 22, 2025, Dr Ayine said investigators from the Economic and Organised Crime Office (EOCO) have traced several luxury properties and suspicious bank transactions linked to Abdul-Wahab, believed to have been financed with proceeds of crime.
“Investigators from the Economic and Organised Crime Office (EOCO) have traced several properties and bank transactions linked to Abdul-Wahab, which they believe were funded through illicit means,” he said.
The former NAFCO boss was arrested with his wife on June 25, 2025, and detained by EOCO for two weeks before being granted bail in the sum of GH¢60 million with two sureties.
His wife was released earlier on a GH¢30 million bail.
While the opposition New Patriotic Party (NPP) has criticised the bail conditions as excessively harsh and politically motivated, Dr Ayine maintained that the government remains committed to enforcing accountability and the rule of law.
He disclosed that assets allegedly acquired with misappropriated funds include a five-bedroom house at Chain Homes, valued at $1.625 million; a three-bedroom residence at Cantonments purchased for $600,000; plots of land at Airport Development Area worth $750,000; a 17-bedroom boutique hotel in Gumani, Tamale valued at $250,000; a four-bedroom bungalow at Dzorwulu valued at GH¢4.14 million; and a 0.32-acre parcel of government land purchased for GH¢307,200.
Dr Ayine assured that all assets proven to have been purchased with stolen funds will be confiscated in line with the law.
See the list below
MRA/AE
v
=========================
88888888888888888888888777777777777777777778999999777878
K Poku-London-UK 1 day ago
Miracles Aboagye-your 17 Houses First. Tell us about your 17 Houses. Where did you get the money for your 17 houses?
Miracles Aboagye-your 17 Houses First. Tell us about your 17 Houses. Where did you get the money for your 17 houses?
K Poku-London-UK 1 day ago
Who took Ghana to the IMF in 2022? It was Dr Messiah Bawumia and Ken Ofori Atta- cum Akuffo Addo- The NPP Economic Messiah-Dr Bawumia. Ghana has been to the IMF 18 times- Ghana has spend 40 years under the IMF conditions out ... read full comment
Who took Ghana to the IMF in 2022? It was Dr Messiah Bawumia and Ken Ofori Atta- cum Akuffo Addo- The NPP Economic Messiah-Dr Bawumia. Ghana has been to the IMF 18 times- Ghana has spend 40 years under the IMF conditions out of its 68 years history-Ghana IS A FAILED STATE. Dr Bawumia pls aren't you embarrassed by revelations at the PAC on revelations of crime committed by the very people u and Akuffo Addo appointed to run affairs of this country? What record are u going to defend. I have lost respect for you. A muslim without intergrity.
The World Bank has pushed back against the erstwhile Akufo-Addo administration’s long-held narrative that Ghana’s 2022 economic collapse was the result of global turmoil, the COVID-19 pandemic and the Russia-Ukraine war.
Bawumia was the Chairman of the Ghana National Economic Management Committee but he says that he was the Drivers Mate. How can a driver's mate do this when he claims he never had the chance to implement anything in government because the powers that be did not allow him. Yet he wants to claim credit for any good things that he never did yet will refuse to accept responsibility for any failure in their government. How stupid does this man think we are? You took the cedi from 4 to 17 and still had the audacity to tell us the rate of depreciation at that time was better than the previous NDC administration. What at all does this man take us for? Does he think we're stupid or what? Someone should tell this man that we haven't forgotten about the DDEP haircuts and surely we shall punish the npp again come 2028.
It insisted that the economic meltdown was “homegrown”.
In its latest 2025 Policy Notes on Ghana, the Bank made clear that while the COVID-19 pandemic and Russia’s invasion of Ukraine worsened the situation, they were not the root cause.
“The deterioration of global conditions… was not the cause of the 2022 macroeconomic crisis; rather, it merely exposed an economy already beset with deep structural vulnerabilities and precarious macroeconomic conditions,” the report said.
The government has frequently blamed external shocks for the collapse, which saw inflation spiral, the cedi plummet, and the country default on its debt.
But the World Bank said years of weak governance, fiscal indiscipline, and stalled reforms were the real culprits of Ghana's "dark days".
Interbank Market: Cedi trades at GH¢12.35 to $1
The bank also argued that the easy access to international credit and expectations of resource windfalls encouraged short-term political decisions at the expense of long-term stability.
The report noted that the cycle of expansionary spending followed by painful corrections, one that has forced Ghana into 17 IMF programs over the past 68 years, is damaging.
“Sudden macroeconomic stops and crises have led the country to request a record number of IMF programs, remaining under active IMF support for 40 out of its 68 years of history,” the Bank said.
The report also noted that more than 800,000 people were pushed into poverty in the aftermath of the 2022 crisis, with per capita incomes stuck at around US$2,200 for over a decade.
Today, more than a quarter of Ghanaians live below the poverty line, it noted.
Looking ahead, the Bank also raised alarms about Ghana’s fiscal management in the 2024 election year.
It flagged unbudgeted spending commitments of roughly US$4.8 billion, equivalent to 5.7% of GDP, much of it accumulated outside official financial systems.
“Spending indiscipline poses a critical challenge…undermining efforts to maintain fiscal discipline and compromising long-term sustainability,” the report cautioned.
Also, the energy sector arrears still cost around 2% of GDP annually, while COCOBOD’s debts reached US$1.8 billion in 2024, with interventions distorting markets and hurting farmers.
The bank warned that Ghana now stands at a critical crossroads, and temporary fixes will not be enough.
“There is an urgent need to signal a clear break from the past and a commitment to change… Success will ultimately be measured by the ability of the government to regain the trust of its citizens.”
Its recommendations are focused on restoring fiscal discipline, broadening the tax base, reforming state-owned enterprises, and enhancing governance.
Without decisive reforms, the World Bank cautions, Ghana risks remaining trapped in its cycle of crisis and bailouts for decades to come.
Gyimea saa some of you Ghanaians. What's wrong with criticising government for not doing what's right? This is the reason why ghana is at crossroads because of foolish illiterate mentality of some Ghanaians.
Check UK, Am ... read full comment
Gyimea saa some of you Ghanaians. What's wrong with criticising government for not doing what's right? This is the reason why ghana is at crossroads because of foolish illiterate mentality of some Ghanaians.
Check UK, America and other developed countries we looking up to and going for loans from them. In the last 10 years UK alone has had about 5 prime ministers all kicked out by their own party members through criticising and resignation because UK has many educated people who don't fall for lies and if you make wrong decisions you get punished for even supporting the person whose made the wrong choices and decisions.
Grow up you fools and stop these party colour gyimea nsem politics you doing in ghana. You are all part of the reasons politicians taking you guys for fools because they know Majority of Ghanaians are illiterate fools just like some of the comments on this platform.
Kaypee 1 day ago
Documents have been provided and parliamentarians have accepted that they were wrong. Some of them obviously lost their teach in class 2.
Documents have been provided and parliamentarians have accepted that they were wrong. Some of them obviously lost their teach in class 2.
WHY IS THIS COMMON THIEF IS STILL WALKING FREE 1 day ago
WHY IS THIS DIRTY MIRACLES ABOAGYE THIEF STILL WALKING FREELY IN TOWN and even organising Newsconferences??
Mr ATTORNEY-GENERAL, WHAT IS HAPPENING??
STEALING 55 Million and still FOOLING IN TOWN??
WHY IS THIS DIRTY MIRACLES ABOAGYE THIEF STILL WALKING FREELY IN TOWN and even organising Newsconferences??
Mr ATTORNEY-GENERAL, WHAT IS HAPPENING??
STEALING 55 Million and still FOOLING IN TOWN??
Koonino 1 day ago
Look at a thief. If you don't one .this is one. Thief oley
Look at a thief. If you don't one .this is one. Thief oley
Kaypee 1 day ago
Did he not watch news file explanation on Saturday by Samuel Okudjeto. Sammy Gyamfi wannabe Sammy Gyamfi. It ain’t happening. He just likes to speak. Shut up and face your 50 million court case.
Did he not watch news file explanation on Saturday by Samuel Okudjeto. Sammy Gyamfi wannabe Sammy Gyamfi. It ain’t happening. He just likes to speak. Shut up and face your 50 million court case.
Rose 1 day ago
Who dey do Dr Bawumia this man way e dey talk for you e skin smell PRISON PRISON still you want make him talk for you HABA you want spoil NPP abi
Who dey do Dr Bawumia this man way e dey talk for you e skin smell PRISON PRISON still you want make him talk for you HABA you want spoil NPP abi
Maama Gonja Mafia 1 day ago
Gonja mafia and his team are stealing promax from the poor of Ghana.
Gonja mafia john mahama is the most arrogant and dishonest person to ever walk on the surface of this earth.
No wonder he is the cheer leader of hete ... read full comment
Gonja mafia and his team are stealing promax from the poor of Ghana.
Gonja mafia john mahama is the most arrogant and dishonest person to ever walk on the surface of this earth.
No wonder he is the cheer leader of hete speech and tribal bigotry. On top of these, he has earned the title of chief state capture. He is using his brothers to monoplise the ownership of all juicy mineral deposits. What he hates most is to see persons with the wrong names doing same businesses as his brothers. To the gonja mafias led by drugmani mahama, a mahama can own and operate mines but an Antwi cannot do same! Are you seeing what we are seeing.
Now, all positions with the best conditions are occupied by either a mahama or mahama family member or persons from particular region. I dont have to spoonfeed anyone. You can find out for yourself. This open tribalism and discrimination that scamahama is doing is direct from Prof. Kofi Awonor's playbook. If you bear the wrong name and you following this tribal bigot, then I think we need to see a .....
People have to note that:
Wontumi today = someone's brother tomorrow.
Wontumi is a political prisoner. He was jailed by a corrupt injustice and agenda court system. And we all know we have an agenda judge sitting at an agenda court.
KOBI 1 day ago
Ei amma ghana so this guy still has mouth to talk
Ei amma ghana so this guy still has mouth to talk
Sam Fante warrior. 1 day ago
Take your matter to the court if you have any problem, we don't want no corruption anymore in Ghana, president John Mahama is looking the better future for Ghanaians. We need Ofori Atta in Ghana.
Take your matter to the court if you have any problem, we don't want no corruption anymore in Ghana, president John Mahama is looking the better future for Ghanaians. We need Ofori Atta in Ghana.
Louis 1 day ago
If you elect idiots into office, they end up being ridiculous.
If you elect idiots into office, they end up being ridiculous.
Mm 1 day ago
Ofuijato was b3 y3 hye rough, a child who always search the eye of a corps will one day see a ghost.
Ofuijato was b3 y3 hye rough, a child who always search the eye of a corps will one day see a ghost.
Bentum 1 day ago
Do you think he is corrupt like uuuuu
Do you think he is corrupt like uuuuu
kwaku 1 day ago
Has any of the returnees complained of not receiving funds? C'mon, you should not do this at this level. It happens always due to one or two reasons.....
Has any of the returnees complained of not receiving funds? C'mon, you should not do this at this level. It happens always due to one or two reasons.....
Bentum 1 day ago
Do you think he is corrupt like uuuuu, criminal like you, you still have the balls to talk
Do you think he is corrupt like uuuuu, criminal like you, you still have the balls to talk
Kweku S 1 day ago
Give us accountability for Covid 19 repatriation and covid levis you collected at the airport. Miracle criminal Aboagye how did get your houses, and the plots. Thief
Give us accountability for Covid 19 repatriation and covid levis you collected at the airport. Miracle criminal Aboagye how did get your houses, and the plots. Thief
Truth 1 day ago
This guy is just a idiot...am even tired of npp though I used to be one. No honesty and decency only foolishness and corruption. I don't think any elder is in the party but rascals. . They doing this cos of their stomachs. Co ... read full comment
This guy is just a idiot...am even tired of npp though I used to be one. No honesty and decency only foolishness and corruption. I don't think any elder is in the party but rascals. . They doing this cos of their stomachs. Corruption brigade!
K. Opoku-London-UK 1 day ago
Who took Ghana to the IMF in 2022? It was Dr Messiah Bawumia and Ken Ofori Atta- cum Akuffo Addo- The NPP Economic Messiah-Dr Bawumia. Ghana has been to the IMF 18 times- Ghana has spend 40 years under the IMF conditions out ... read full comment
Who took Ghana to the IMF in 2022? It was Dr Messiah Bawumia and Ken Ofori Atta- cum Akuffo Addo- The NPP Economic Messiah-Dr Bawumia. Ghana has been to the IMF 18 times- Ghana has spend 40 years under the IMF conditions out of its 68 years history-Ghana IS A FAILED STATE. Dr Bawumia pls aren't you embarrassed by revelations at the PAC on revelations of crime committed by the very people u and Akuffo Addo appointed to run affairs of this country? What record are u going to defend. I have lost respect for you. A muslim without intergrity.
The World Bank has pushed back against the erstwhile Akufo-Addo administration’s long-held narrative that Ghana’s 2022 economic collapse was the result of global turmoil, the COVID-19 pandemic and the Russia-Ukraine war.
Bawumia was the Chairman of the Ghana National Economic Management Committee but he says that he was the Drivers Mate. How can a driver's mate do this when he claims he never had the chance to implement anything in government because the powers that be did not allow him. Yet he wants to claim credit for any good things that he never did yet will refuse to accept responsibility for any failure in their government. How stupid does this man think we are? You took the cedi from 4 to 17 and still had the audacity to tell us the rate of depreciation at that time was better than the previous NDC administration. What at all does this man take us for? Does he think we're stupid or what? Someone should tell this man that we haven't forgotten about the DDEP haircuts and surely we shall punish the npp again come 2028.
It insisted that the economic meltdown was “homegrown”.
In its latest 2025 Policy Notes on Ghana, the Bank made clear that while the COVID-19 pandemic and Russia’s invasion of Ukraine worsened the situation, they were not the root cause.
“The deterioration of global conditions… was not the cause of the 2022 macroeconomic crisis; rather, it merely exposed an economy already beset with deep structural vulnerabilities and precarious macroeconomic conditions,” the report said.
The government has frequently blamed external shocks for the collapse, which saw inflation spiral, the cedi plummet, and the country default on its debt.
But the World Bank said years of weak governance, fiscal indiscipline, and stalled reforms were the real culprits of Ghana's "dark days".
Interbank Market: Cedi trades at GH¢12.35 to $1
The bank also argued that the easy access to international credit and expectations of resource windfalls encouraged short-term political decisions at the expense of long-term stability.
The report noted that the cycle of expansionary spending followed by painful corrections, one that has forced Ghana into 17 IMF programs over the past 68 years, is damaging.
“Sudden macroeconomic stops and crises have led the country to request a record number of IMF programs, remaining under active IMF support for 40 out of its 68 years of history,” the Bank said.
The report also noted that more than 800,000 people were pushed into poverty in the aftermath of the 2022 crisis, with per capita incomes stuck at around US$2,200 for over a decade.
Today, more than a quarter of Ghanaians live below the poverty line, it noted.
Looking ahead, the Bank also raised alarms about Ghana’s fiscal management in the 2024 election year.
It flagged unbudgeted spending commitments of roughly US$4.8 billion, equivalent to 5.7% of GDP, much of it accumulated outside official financial systems.
“Spending indiscipline poses a critical challenge…undermining efforts to maintain fiscal discipline and compromising long-term sustainability,” the report cautioned.
Also, the energy sector arrears still cost around 2% of GDP annually, while COCOBOD’s debts reached US$1.8 billion in 2024, with interventions distorting markets and hurting farmers.
The bank warned that Ghana now stands at a critical crossroads, and temporary fixes will not be enough.
“There is an urgent need to signal a clear break from the past and a commitment to change… Success will ultimately be measured by the ability of the government to regain the trust of its citizens.”
Its recommendations are focused on restoring fiscal discipline, broadening the tax base, reforming state-owned enterprises, and enhancing governance.
Without decisive reforms, the World Bank cautions, Ghana risks remaining trapped in its cycle of crisis and bailouts for decades to come.
Are you afraid to go to court? The money went into your looted properties
Are you afraid to go to court? The money went into your looted properties
MO KWAME NKRUMAH NO 19 hours ago
The money went into your numerous housing projects you have acquired thief man like you miracles Aboagye, the kettle calling the pot the black,"wo ho bon na wo teta gu mu twe twe twe"
The money went into your numerous housing projects you have acquired thief man like you miracles Aboagye, the kettle calling the pot the black,"wo ho bon na wo teta gu mu twe twe twe"
Shut up. NPP, sune sune sune
===AKUFFO ADDO STOLE GHANA MONEY £900 MILLION POUNDS STERLING
KEN OFORI ATTA STOLE GHANA MONEY £400 MILLION POUNDS STERLING
ATTA KYEA-AKUFFO ADDO BROTHER STOLE GHANA MONEY £650 MILLION POUNDS STERLING
EDWARD AKUFF ...
read full comment
This criminal boy has had over 17 of his assets confiscated for stealing state money,and he has the effrontry to ask accountability from somebody?Ablakwah should render an A to Z accounts to Ghanaians on the spendings,but the ...
read full comment
@ Rex
Are you paid to always come to Ghanaweb to defend the indefensible or insult NDC critics? In the Corporate world when you're given an Imprest you've to account to it with invoices & receipts. Who sign for those kids an ...
read full comment
That's wat your peanut brain tells you,people dont go to prison when they haven't committed any wrong,Nana Boakye is walking a free man and is under no investigation today because it hasn't bn found that he stole any money,ma ...
read full comment
@John Tema, you are a cow. All big but little brain. We the people of Ghana are happy with Samuel's explanation. The fact that Miracles Aboagye is you spokesman on this issue makes you people look stupid.
Why is the ATTORNEY-GENERAL so so LACKADAISICAL in PROSECUTING and JAILING this BUSH MONKEY AND THIEF Calling himself MIRACLES ABOAGYE??
IMPRISON THIS SILLY BOY AND CRIMINAL!!!
Miracles Aboagye-YOUR 17 HOUSES FIRST-WHERE DID YOU GET THE MONEY FOR YOUR 17 HOUSES?
Miracles-Aboagye-your 17 houses FIRST. Where did you get the money for your 17 houses?
Who took Ghana to the IMF in 2022? It was Dr Messiah Bawumia and Ken Ofori Atta- cum Akuffo Addo- The NPP Economic Messiah-Dr Bawumia. Ghana has been to the IMF 18 times- Ghana has spend 40 years under the IMF conditions out ...
read full comment
The man of 17 properties and multiple bank accounts miraculously just when his party was in.power is the one talking. Have you accounted for the 55 million? Oooh so you think if found guilty your Director of Communication p ...
read full comment
Any forensic audit on these Ghanaian returnees from SA can land Ablakwa Okudjeto in trouble or even jail. Why couldn't the Govt give them electronic I.D. Cards on arrival? They could've used that ID in the collection of that ...
read full comment
===AKUFFO ADDO STOLE GHANA MONEY £900 MILLION POUNDS STERLING
KEN OFORI ATTA STOLE GHANA MONEY £400 MILLION POUNDS STERLING
ATTA KYEA-AKUFFO ADDO BROTHER STOLE GHANA MONEY £650 MILLION POUNDS STERLING
EDWARD AKUFF ...
read full comment
Miracles Aboagye-your 17 Houses First. Tell us about your 17 Houses. Where did you get the money for your 17 houses?
Who took Ghana to the IMF in 2022? It was Dr Messiah Bawumia and Ken Ofori Atta- cum Akuffo Addo- The NPP Economic Messiah-Dr Bawumia. Ghana has been to the IMF 18 times- Ghana has spend 40 years under the IMF conditions out ...
read full comment
Gyimea saa some of you Ghanaians. What's wrong with criticising government for not doing what's right? This is the reason why ghana is at crossroads because of foolish illiterate mentality of some Ghanaians.
Check UK, Am ...
read full comment
Documents have been provided and parliamentarians have accepted that they were wrong. Some of them obviously lost their teach in class 2.
WHY IS THIS DIRTY MIRACLES ABOAGYE THIEF STILL WALKING FREELY IN TOWN and even organising Newsconferences??
Mr ATTORNEY-GENERAL, WHAT IS HAPPENING??
STEALING 55 Million and still FOOLING IN TOWN??
Look at a thief. If you don't one .this is one. Thief oley
Did he not watch news file explanation on Saturday by Samuel Okudjeto. Sammy Gyamfi wannabe Sammy Gyamfi. It ain’t happening. He just likes to speak. Shut up and face your 50 million court case.
Who dey do Dr Bawumia this man way e dey talk for you e skin smell PRISON PRISON still you want make him talk for you HABA you want spoil NPP abi
Gonja mafia and his team are stealing promax from the poor of Ghana.
Gonja mafia john mahama is the most arrogant and dishonest person to ever walk on the surface of this earth.
No wonder he is the cheer leader of hete ...
read full comment
Ei amma ghana so this guy still has mouth to talk
Take your matter to the court if you have any problem, we don't want no corruption anymore in Ghana, president John Mahama is looking the better future for Ghanaians. We need Ofori Atta in Ghana.
If you elect idiots into office, they end up being ridiculous.
Ofuijato was b3 y3 hye rough, a child who always search the eye of a corps will one day see a ghost.
Do you think he is corrupt like uuuuu
Has any of the returnees complained of not receiving funds? C'mon, you should not do this at this level. It happens always due to one or two reasons.....
Do you think he is corrupt like uuuuu, criminal like you, you still have the balls to talk
Give us accountability for Covid 19 repatriation and covid levis you collected at the airport. Miracle criminal Aboagye how did get your houses, and the plots. Thief
This guy is just a idiot...am even tired of npp though I used to be one. No honesty and decency only foolishness and corruption. I don't think any elder is in the party but rascals. . They doing this cos of their stomachs. Co ...
read full comment
Who took Ghana to the IMF in 2022? It was Dr Messiah Bawumia and Ken Ofori Atta- cum Akuffo Addo- The NPP Economic Messiah-Dr Bawumia. Ghana has been to the IMF 18 times- Ghana has spend 40 years under the IMF conditions out ...
read full comment
Are you afraid to go to court? The money went into your looted properties
The money went into your numerous housing projects you have acquired thief man like you miracles Aboagye, the kettle calling the pot the black,"wo ho bon na wo teta gu mu twe twe twe"