Tag: #ghana

  • NCC, Ghana’s NCA Deepen Regulatory Collaboration to Boost Telecoms in West Africa

    NCC, Ghana’s NCA Deepen Regulatory Collaboration to Boost Telecoms in West Africa

    The Nigerian Communications Commission (NCC) and Ghana’s National Communications Authority (NCA) have reaffirmed their commitment to strengthening bilateral collaboration in telecoms regulation to enhance service delivery and promote regional integration.

    This renewed partnership followed a successful two-day benchmarking and coordination visit by the NCC delegation, led by the Executive Vice Chairman/CEO, Dr. Aminu Maida, to the NCA headquarters in Accra, Ghana.

    The engagement marked a significant milestone in fostering cross-border policy alignment, regulatory cooperation, and the harmonisation of telecom standards in line with global best practices.

    During the high-level meetings, both regulatory bodies exchanged insights on key issues including Quality of Service (QoS) monitoring, consumer protection, telecoms infrastructure security, and cybersecurity—areas critical to the development of resilient and innovation-driven telecom ecosystems.

    Acting Director-General of the NCA, Rev. Edmund Fianko, welcomed the Nigerian delegation and emphasized the importance of sustained collaboration between the two countries. “We must continue to lead the charge for regional regulatory excellence. Ghana is keen to work closely with Nigeria on ECOWAS Roaming, cross-border regulatory monitoring, and capacity building for stronger regional integration,” he said.

    Fianko noted the significance of the partnership given the volume of telecom traffic and trade between the two nations.

    In his remarks, Dr. Maida lauded Ghana’s regulatory innovations, particularly in real-time monitoring and addressing market dominance. “This visit is inspired not just by what we’ve heard but by what we’ve seen—Ghana’s impressive infrastructure and forward-thinking regulation. Nigeria is ready to partner more closely on ECOWAS Roaming and learn from Ghana’s experience,” he stated.

    The NCC delegation toured key NCA facilities, including the Communications Monitoring Centre (CMC), the Network Monitoring System, and the Common Platform—a flagship revenue assurance tool that promotes transparency across Ghana’s telecom sector.

    As part of the knowledge-sharing initiative, both agencies delivered technical presentations showcasing their recent achievements. The NCC highlighted policies such as Nigeria’s NIN-SIM integration, the Incident Reporting Platform, Tariff Simplification Framework, and the classification of telecom infrastructure as Critical National Information Infrastructure (CNII).

    The NCA, in turn, shared its strides in regulatory innovation, data-centric supervision, and robust stakeholder engagement—approaches credited with enhancing industry compliance and quality assurance in Ghana.

    Dr. Maida also extended an invitation to the NCA to join the African chapter of the International Institute of Communications (IIC), which is currently being established.

    At the close of the visit, both agencies reaffirmed their commitment to joint regulatory initiatives, technical exchange, and continuous learning, with the shared goal of advancing secure, inclusive, and consumer-focused digital economies across the West African sub-region.

  • Economic Recovery: Ghana Secures $3 Billion IMF Bailout

    Economic Recovery: Ghana Secures $3 Billion IMF Bailout

    The International Monetary Fund (IMF) has granted Ghana a $3 billion bailout to aid its economic recovery from the debt crisis. The anticipation of this approval has boosted investor confidence, resulting in Ghana’s currency, the Cedi, becoming the world’s top performer against the dollar.

    Ghana’s much-anticipated request for a $3 billion bailout from the International Monetary Fund (IMF) has been approved, per Bloomberg. This signals a positive outlook for the nation’s economy amidst its debt-induced crisis. Investors had been eagerly awaiting this news over the past six months, leading to a surge in confidence and making Ghana’s cedi the world’s top-performing currency against the US dollar.

    As of today, the currency reportedly traded 1.7% stronger at 10.8625 per dollar in Accra, Ghana’s capital. Additionally, Ghana’s Eurobond maturing in 2032 experienced a boost, rising 0.5 cents to 40.2 cents on the dollar.

    The approved funding will serve to replenish Ghana’s foreign-exchange reserves, which have seen a significant decline of nearly 50% since their peak in August 2021 due to the central bank’s efforts to defend the cedi.

    In order to secure this IMF program approval, Ghana had to make tough economic decisions, such as increasing taxes. Notably, a bilateral creditors group—co-chaired by China and France—played a vital role in restructuring Ghana’s debt under the G20’s Common Framework which reportedly influenced the approval greatly.

    Although the IMF has not officially announced its decision, Bloomberg reports that sources close to the matter have confirmed the approval following a meeting of the IMF’s executive board on Wednesday. According to Mohammed Amin Adam, the Minister of State for Finance, the government anticipates receiving an initial disbursement of $600 million this week, with another $600 million expected in November. The remaining amount will likely be disbursed in equal instalments of $350 million every six months, subject to IMF reviews.

    Furthermore, the government is currently engaged in talks for an additional $900 million in budget support from the World Bank over a three-year period. Simultaneously, negotiations are being planned with eurobond holders to restructure the $13 billion debt owed to private investors, indicating a comprehensive effort to stabilise Ghana’s financial situation.

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