Business News of Friday, 23 May 2025
Source: www.ghanawebbers.com
The Auditor-General will soon submit an interim audit report. This report will address outstanding contractor claims. Once submitted, it will trigger government payments.
This information came from a meeting between Finance Minister Dr. Cassiel Ato Forson and Ecobank CEO Jeremy Awori.
The government inherited contractor arrears of GH¢67 billion. It has committed to auditing and settling these debts over four years.
In the 2025 Budget, GH¢13 billion is allocated to start clearing verified claims. The Finance Minister emphasized the need to avoid new arrears.
He mentioned recent changes to the Public Financial Management Act. These changes aim to improve discipline and transparency in public procurement.
Ecobank, as Ghana's largest financial institution, was urged to support economic recovery. This includes focusing on private sector development and agriculture.
CEO Jeremy Awori expressed Ecobank’s commitment to Ghana’s recovery efforts. He also indicated readiness to increase lending and cooperation with the government.
The meeting included Energy Minister John Abdulai Jinapor as well.