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Make Ghana ADR hub in West Africa, Africa – Pres Akufo-Addo

The President of the Republic, Nana Addo Dankwa Akufo-Addo has urged Alternative Dispute Resolution (ADR) practitioners in Ghana to strive towards ensuring that Ghana, as has been achieved in other areas, becomes the regional hub of settling disputes via ADR.

President Akufo-Addo is confident that, the establishment of an ADR centre, 14 years after the promulgation of the ADR act 798, will further provide a viable opportunity for multi million dollar commercial disputes and cases involving the use of the state’s valuable natural resources to be resolved in Ghana in a very wholesome environment, and will also enable ADR practitioners, particularly members of the Ghana Bar Association to sharpen their skills in the resolution of such disputes.

Accordingly, the nation’s strong democratic credentials, a liberal and open economy, and an environment conducive to business in general, coupled with the nation’s strong judicial system and pro-arbitration courts, give it a big advantage in the race to be the arbitration nerve centre in the whole of Africa and in West Africa, in particular. Our neighbouring countries should find Ghana, a safe haven for the resolution of disputes, just as they do for investment.

This, he added, “shall propel Ghana to be an arbitration hub in Africa, particularly in West Africa.”

President Akufo-Addo said this when he, pursuant to section 1181 of the Alternative Dispute Resolution Act 2010, (Act 789), inaugurated the Governing Board of the Alternative Resolution Centre into office at the Jubilee House in Accra.

Chaired by the respected retired Supreme Court Judge, Justice Victor Jones Mawulom Dotse, who was nominated by the President alongside Mrs Efua Ghartey, the membership also includes Francis Kofi Korankye-Sakyi, from the Ghana Chamber of Commerce, Michael Gyang Owusu, from the Ghana Bar Association, Surv. Jose Nicco-Annan, from the Ghana Institute of Surveyors, Her Ladyship Angelina Mensah-Homiah, from the Judiciary, Ms Joyce Adu, of the Institute of Chartered Accountants and Mrs Philomena Aba Sampson, a representative from Organised labour.

President Akufo-Addo, noted that ADR mechanisms such as mediation, arbitration and negotiation provide parties with the opportunity to resolve their disputes, amicably preserving relationships and fostering a culture of dialogue and understanding.

These methods have proven to be effective in several jurisdictions around the world, and he was confident it would yield similar benefits here in Ghana.

Describing it as a new chapter in civil litigation in Ghana, the President alluded to the several times and occasions when and where, the Ghana Bar Association (GBA) the Ghana Investment Promotion Centre (GIPC) and the Private Enterprise Federation (PEF) have all called for the introduction of Alternative Dispute Resolution mechanisms, particularly arbitration to alleviate the congestion in the courts and to enhance expertise and specialisation in certain areas of the law especially commercial law, investment law, energy law and natural resources law.

He commended the current Chief Justice, Justice Gertrude Araba Sackey Torkornoo, and the Attorney General, Godfred Yeboah Dame, for their diligence in bringing the centre into being, and again commended the office of the Attorney General for effectively advocating Ghana’s interests on the international stage and achieving favourable outcomes to various arbitration proceedings, resulting in little or no cost to the nation.

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GEXIM deepens relations with US EXIM Bank

A management team of the Ghana Export – Import Bank (GEXIM) led by the Acting Chief Executive, Sylvester Mensah met with the leadership of the Export–Import Bank of the United States (US EXIM) on Wednesday April 23, 2025 in Washington DC, United States of America.

The Acting President and Chairman of US EXIM, Mr. James C. Cruse and Vice President, International Relations, Ms. Isabel Galdiz received the GEXIM delegation, which included Deputy CEO for Banking, Mr. Moses Klu Mensah and Head of International Cooperation, Mr. Jonathan Christopher Koney at the headquarters of US EXIM.

The meeting offered the GEXIM team the opportunity to share the strategic direction of the Bank in line with the resetting agenda of the President of the Republic, His Excellency John Dramani Mahama for the repositioning of the Ghanaian economy into an export-led one by providing the requisite investment to Ghanaian businesses.

Mr. James C. Cruse expressed US EXIM’s eagerness to deepen its existing relations with GEXIM and proposed the signing of a new Cooperative Framework Agreement following the expiration of a Memorandum of Understanding signed in 2019 to utilize US EXIM’s medium term loan guarantees to procure machinery by GEXIM for qualified Ghanaian Small and Medium-sized Enterprises (SMEs).

Mr.Sylvester Mensah thanked the Acting President and Chairman of US EXIM for hosting the GEXIM delegation and reaffirmed the Ghanaian government’s commitment to strengthening trade and investment between Ghana and its global partners for economic transformation of Ghana with GEXIM playing a pivotal role.

The two teams will be meeting on the sidelines of the 2025 US EXIM Annual Conference on 29th and April 30, 2025 to explore possible areas of collaboration and matching Ghanaian businesses to American companies. The meeting ended with an exchange of gifts.

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Many SOEs have been used as mere instruments for personal wealth accumulation –Pres.Mahama

President John Dramani Mahama has expressed concern over the misuse of State-Owned Enterprises (SOEs) for personal financial gain by individuals in leadership positions.

Speaking during a meeting with Chief Executives of specified entities under the State Interest and Governance Authority (SIGA) on Thursday, March 13, the President directly attributed the dire state of SOEs to their leadership, accusing chief executives, management teams, and governing boards of prioritising personal enrichment over organisational efficiency.

He pointed to bloated budgets, unjustified allowances, and unnecessary expenditures as factors draining public funds while SOEs continue to rely on government bailouts.

“Many SOEs have been used as mere instruments for personal wealth accumulation by appointees. The chief executives, management, and boards of these enterprises are responsible for this situation. Some SOEs have become perennial loss-makers, draining public funds with bloated budgets, unjustified allowances, and unnecessary expenditures while relying on government bailouts as if entitled to them. Many of these entities are at their lowest point in the entire history of the Fourth Republic,” he said.

President Mahama further noted that many SOEs have been plagued by inefficiencies, corruption, and mismanagement, leading to consistent financial losses. He cited the 2023 State Ownership Report by the State Interests and Governance Authority (SIGA), which highlighted systemic inefficiencies and wasteful expenditures within these entities.

He therefore reaffirmed his commitment to reforming under-performing SOEs and ensuring they serve national interests.

He warned that loss-making SOEs will no longer be tolerated and will either be merged, privatised, or closed.

“I will assess you based on your performance. If you do not align with the pace of the reset agenda, you may be asked to step aside. If that adds to the horror movie, so be it,” he added.

Source: Myjoyonline.com