The Chief Executive Officer of the Ghana Tourism Authority, Maame Efua Houadjeto, has been enstooled as the Safohen of the Bentsir No. 1 Asafo Company in Cape Coast under the stool name Nana Efua Kouguah Nshiraba II.

The solemn yet colourful traditional ceremony, held in Cape Coast in the Central Region, attracted hundreds of people from all walks of life, including traditional authorities, government officials, tourism stakeholders, opinion leaders, Asafo members, family, friends and residents, who gathered to witness the historic occasion.

Rich in symbolism, pageantry and deep cultural significance, the ceremony showcased Ghana’s vibrant cultural heritage and traditions. The atmosphere was filled with traditional drumming, dancing, Asafo displays and customary rites that reflected the enduring legacy and identity of the Asafo institutions in the Central Region.

The installation of Nana Efua Kouguah Nshiraba II is being viewed as both recognition of leadership and service, and a call to greater responsibility towards community development, unity and cultural preservation.

As Safohen of the Bentsir No. 1 Asafo Company, Nana Efua Kouguah Nshiraba II assumes the responsibility of providing leadership and guidance to the Asafo Company, promoting peace and unity among members, preserving customs and traditions, supporting community mobilisation and championing development initiatives within the traditional area.

The role of a Safohen also includes serving as a custodian of the values, discipline and identity of the Asafo Company, while strengthening the institution’s contribution to social and cultural advancement.

The ceremony further highlighted the critical role of traditional institutions in preserving Ghana’s heritage and promoting cultural tourism. It also reaffirmed the strong connection between tourism, culture and community identity.

Speaking during the ceremony, several dignitaries praised the Ghana Tourism Authority CEO for her dedication to public service, leadership and commitment to promoting Ghana’s culture and tourism sector.

Many expressed confidence that her elevation to the revered traditional position would further strengthen efforts towards cultural preservation and national development.

The event stood as a celebration of Ghanaian identity: solemn in tradition, colourful in display, and deeply rooted in culture and heritage.

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Governor of the Bank of Ghana (BoG), Dr Johnson Pandit Asiama, has assured the public and investors that the significant operating and Other Comprehensive Income (OCI) losses incurred in 2025 will not recur at the same scale in 2026.

 His comments follow BoG posting an operating loss of GH¢15.6 billion for 2025, up from GH¢9.4 billion in 2024.

He pointed to a fundamental shift in the three key conditions that drove those losses, expressing confidence that the Bank remained fully solvent and capable of delivering on its mandate.

The Bank’s operating losses were driven by revenue losses from the Domestic Debt Exchange Programme (DDEP), revaluation losses from the cedi’s sharp appreciation, and the high cost of extensive open market operations needed to curb elevated inflation.

Dr Asiama said this at a press briefing following the 130th Monetary Policy Committee meeting while responding to a question posed by the Ghana News Agency on measures the Central Bank was employing to address its losses.

“From where we are currently, our operating losses will be less costly compared to last year. We don’t see the cedi appreciating by 41 or 42 per cent this year, so revaluation losses could actually become revaluation gains,” he said.

The Central Bank Governor noted that the conditions that gave rise to those losses had materially changed, with the same combination of pressures not expected to converge again this year to the same degree or effect.

He explained that open market operations would be considerably less costly in 2026, given that inflation was well below the upper limit of the medium-term target band of 8 ± 2 per cent, in addition to aggressive monetary tightening.

Regarding the cedi, Governor Asiama explained that instead of revaluation losses, the current exchange rate trajectory could produce revaluation gains on the Bank’s balance sheet.

“As of December 31, 2025, the selling rate of the dollar was GH₵10.4. Today, the cedi-to-dollar rate is GH₵11.5. Now, if I publish the same financials today, the picture will have changed completely,” he stated.

Governor Asiama said it was important for the losses to be understood in the context of what was achieved, describing the stability gains realised in 2025 as significant and as a “necessary cost” and a “reset” that could not easily be quantified in monetary terms.

He said the Central Bank’s overriding priority was the maintenance of that stability.

“What now matters most is the ability to hold the anchor going forward — to preserve the stability that was achieved at considerable cost, so that other growth outcomes can be built upon that foundation for the benefit of all Ghanaians,” he said.

He urged Ghanaians not to fear for the Central Bank’s viability and reaffirmed the Bank’s commitment to delivering its price stability mandate, while promising a turnaround in 2026.

Dr Asiama also reaffirmed the Bank of Ghana’s commitment to transparency and public communication, expressing confidence that an informed public would understand the full picture of where the Bank stood and where it was headed.

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