Speaking during a meeting with the leadership of the University Teachers Association of Ghana (UTAG), the Technical University Teachers Association of Ghana (TUTAG), and the Colleges of Education Teachers Association of Ghana (CETAG), Dr. Forson emphasised the urgent need to clean the payroll system.

He revealed that preliminary findings from the Auditor-General’s audit point to the presence of numerous ghost names, and noted that addressing the issue could result in substantial savings for the nation.

“Payroll reform is not only about fiscal responsibility,” he said. “It is also about fairness and transparency in managing public resources.”

Dr. Forson urged the unions to lend their full support to the audit exercise to help build a more accountable and efficient system.

In the same meeting, the Minister assured the unions that their Book and Research Allowances have been fully captured in the 2025 Budget. He added that disbursement processes have already commenced in collaboration with the Ministry of Education to ensure timely payment.

The unions also proposed the establishment of a dedicated Labour Relations Desk within the Ministry of Finance to enhance engagement with organised labour. Dr. Forson welcomed the proposal, describing it as a step in the right direction toward improved coordination and responsiveness.

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The assurance was given during a meeting with leaders of the University Teachers Association of Ghana (UTAG), the Technical University Teachers Association of Ghana (TUTAG), and the Colleges of Education Teachers Association of Ghana (CETAG), who had formally sought clarification on the status of the allowance.

Dr. Forson confirmed that disbursement processes have already commenced in collaboration with the Ministry of Education to ensure the timely release of funds.

During the engagement, the unions proposed the creation of a dedicated Labour Relations Desk within the Ministry of Finance to strengthen dialogue and coordination on labour-related matters.

The Minister welcomed the proposal, describing it as a constructive step toward enhancing stakeholder engagement.

The meeting also reviewed ongoing payroll reforms, including an audit by the Auditor-General.

Preliminary findings, according to the Minister, have revealed the presence of ghost names on the government payroll. He stressed the need to address these irregularities in order to safeguard public resources.

Dr. Forson reaffirmed his commitment to fostering transparency, accountability, and equity in public sector compensation through continued collaboration with key stakeholders.

He confirmed that disbursement processes have already commenced in collaboration with the Ministry of Education to ensure the timely release of funds.

During the engagement, the unions proposed the establishment of a dedicated Labour Relations Desk within the Ministry of Finance to improve dialogue and coordination on labour-related matters. Dr. Forson welcomed the proposal, describing it as a constructive step towards enhancing stakeholder engagement.

The meeting also reviewed ongoing payroll reforms, including an audit by the Auditor-General. Preliminary findings reveal the presence of ghost names on the payroll, and the Minister underscored the importance of addressing the issue to safeguard public resources.

The Minister reaffirmed his commitment to fostering transparency, accountability, and equity in public sector compensation through continued collaboration with key stakeholders.

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The elections aim to select a successor to Dr. Akinwumi Adesina, the 8th elected President of the AfDB Group, who was first elected on May 28, 2015, by the Bank’s Board of Governors during its Annual Meetings in Abidjan, Côte d’Ivoire.

Five candidates from across Africa are contesting the presidency:

1. Mr. Amadou Hott – Senegal

2. Dr. Samuel Munzele Maimbo – Zambia

3. Dr. Sidi Ould Tah – Mauritania

4. Mr. Abbas Mahamat Tolli – Chad

5. Ms. Bajabulile Swazi Tshabalala – South Africa

As Returning Officer, Dr. Forson is responsible for ensuring the integrity and smooth conduct of the voting process in accordance with Article 5 of the Bank’s electoral rules.

His duties include verifying that the ballot box is empty before each round, confirming the number of ballots cast matches the number of eligible voters, rejecting invalid ballots, and certifying that only valid votes are counted.

He will be supported by the Secretary General, the General Counsel, and a technical team charged with ensuring the accuracy of vote tabulation, as stipulated in Article 7 of the rules.

Dr. Forson’s appointment highlights the confidence the AfDB Board of Governors has in his integrity, professionalism, and commitment to transparency and good governance in multilateral financial institutions.

Source: Ministry of Finance

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Speaking at the inauguration of a new eleven-member Board of Directors for the Ghana Cocoa Board (COCOBOD) at the Ministry of Finance, Dr. Forson stressed the urgent need for bold interventions to address the sharp decline in cocoa production, which has fallen from a peak of 1 million metric tonnes to about 500,000 metric tonnes in recent years.

Dr. Forson, who now serves on the COCOBOD Board by virtue of a new legal provision mandating the inclusion of the Finance Minister and the Governor of the Bank of Ghana, reaffirmed government’s commitment to repositioning cocoa as the cornerstone of the national economy.

“Cocoa has always been the mainstay of our economy, and that must not change,” he said. “Unfortunately, massive mismanagement in recent years has led to a worrying downturn in both production and financial stability. It is time to act decisively.”

He disclosed that the government, working through COCOBOD, would establish plantation farms by acquiring about 200 hectares of cocoa land to significantly boost production levels.

This, he explained, would complement existing smallholder farmer operations and ensure sustainable growth in the sector.

Dr. Forson also highlighted the need to urgently tackle diseased farms, particularly in the Western Region, which continue to hamper output and affect the livelihoods of cocoa farmers. He pledged the Finance Ministry’s unwavering support for COCOBOD as it embarks on this turnaround agenda.

The Chairman of the newly inaugurated board, Dr. Samuel Ofosu Ampofo, promised to reset, retool, and reposition COCOBOD as a model institution.

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He emphasized the government’s commitment to fiscal responsibility and restoring confidence in the financial sector.

In a statement on social media on Friday, March 21, Dr. Forson disclosed that he had engaged with over 22 Managing Directors of banks at a high-level meeting to reaffirm the government’s commitment to honoring all DDEP obligations.

“We do not intend to default,” he declared. “All outstanding holdouts have been paid, and we have put in place the necessary buffers to ensure that every single DDEP obligation for this year will be met.”

Beyond ensuring timely payments, Dr. Forson noted that the government was also working to reduce its dependence on the Treasury bill market.

He highlighted efforts to improve coordination between fiscal and monetary policies to stabilize interest rates and ease liquidity pressures on the banking sector.

“These actions are part of a broader strategy to ensure economic resilience and prevent a repeat of the financial instability of 2022,” he explained.

The Finance Minister further reassured banking executives that the government had learned from past financial challenges and would act prudently moving forward.

“We have learned from the past. We are not going to be reckless,” he stated. “We have built the necessary buffers to meet our obligations, and we will work with you to ensure a stable and prosperous economy.”

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