Latest news with #Ghanaians
Coin Geek
2 days ago
- Business
- Coin Geek
Ghana plans new framework to regulate digital assets
Getting your Trinity Audio player ready... Ghana is developing a new regulatory framework for the digital asset sector as adoption in cross-border transfers and speculative trading surges. The Bank of Ghana is finalizing the new policy proposal and will submit it to parliament by the end of August, Governor Johnson Asiama told Bloomberg on July 24. It includes a new licensing policy for VASPs and taxation measures for one of the continent's fastest-growing digital asset markets. Asiama says the new framework will enable Ghana to capitalize on digital assets to boost the economy, boost cross-border transfers, and allow authorities to collect financial data. Additionally, it will boost the funding opportunities for local companies, allowing them to attract strategic investment from investors in Africa and beyond. In 2024, African blockchain startups raised $123 million, a report by CV VC revealed. Their share of the venture capital deals nearly doubled to 13%, outperforming other sectors like finance and tech. Ghana is 'late in the game,' says Asiama, noting that millions of Ghanaians have already been using digital assets in speculative trading and cross-border transfers. However, due to a lack of oversight, this volume isn't captured on the country's financial accounts. Left unchecked, the sector could have far-reaching implications on the local currency, he added. In neighboring Nigeria, digital assets have been blamed for the naira's depreciation over the past three years. The government cracked down on the sector for allegedly allowing Nigerians to bypass formal channels and acquire USD-pegged stablecoins at black market rates. The crackdown culminated in the shutdown of offshore exchanges and an $81.5 billion lawsuit against Binance for allegedly orchestrating a 'sophisticated heist' against the Nigerian economy. But while the naira has lost over 70% of its value in the past three years, Ghana's cedi has been on an uptrend, gaining nearly 50% in the past year, which was the best performance globally. According to one report, over 3 million Ghanaians own digital assets, translating to over 17% of the adult population. This ranks the country higher than Singapore, the U.S., Germany, the U.K., and Japan for adoption. The report further revealed that in the year ending June 2024, Ghanaians transacted over $3 billion. 'We do recognize that there's some activity happening. Our goal for this whole process is to put safeguards and rails around it,' commented Kwame Oppong, the central bank's head of fintech and innovation. Ghana is following the growing list of African countries making strides in digital currency regulation. In Kenya, lawmakers are debating the VASP Bill, which would be the most comprehensive framework for digital assets in the region, and have already approved five joint watchdogs for the industry. Nigerian president Bola Tinubu signed a bill in April that recognizes digital assets as law, and it's already attracting global players. Watch: Tech redefines how things are done—Africa is here for it title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen=""> Africa Bank of Ghana Ghana Johnson Asiama Kwame Oppong Regulation
TimesLIVE
6 days ago
- Sport
- TimesLIVE
'We'll dust ourselves off and move on,' says Banyana coach Ellis after Wafcon bronze medal match defeat to Ghana
Banyana Banyana coach Desiree Ellis has graciously accepted her team's fate after they finished fourth at the Women's Africa Cup of Nations (Wafcon) after a penalty shoot-out defeat to Ghana at the Larbi Zaouli Stadium in Casablanca on Friday night. The defending champions lost 4-3 on penalties against the Black Queens, a team Ellis' charges had defeated 2-0 in their opening Group C match earlier in July. Banyana looked to be cruising to yet another victory when they took the lead through Nonhlanhla Mthanti on the stroke of halftime but poor defending after the restart got Ghana back into the match after they equalised through Alice Kusi in the 68th minute. Ellis lamented her team's slow start and failure to control the game in the early stages as one of the reasons that gave the Ghanaians confidence, especially in the second half in which they cancelled Mthanti's goal. 'We started very slowly, got into the game and got a goal when we pressed,' Ellis explained after Friday's match.
CAF
6 days ago
- Sport
- CAF
Alice Kusi: Black Queens' midfield maestro with unfinished business
Alice Kusi's name has long resonated in Ghanaian women's football, but at the Morocco 2024 CAF TotalEnergies Women's Africa Cup of Nations, she cemented her place among the continent's elite. At 30, the experienced midfielder played a pivotal role in leading the Black Queens to a third-place finish, scoring twice in five games and producing a Player of the Match performance against reigning champions South Africa in the bronze medal match. A two-time WAFCON participant (2016 and 2018), Kusi was integral in Ghana's journey back to the continental stage. Her stunning four-goal performance against Rwanda in the qualifiers, including a first-half hat-trick, reflecting her enduring quality and eye for goal. With Ghana still chasing their first WAFCON final since 2006, her influence in the middle of the park remains invaluable. Bronze Brilliance and National Pride For Kusi, standing on the podium meant more than personal glory—it was about salvaging pride for her nation after a challenging tournament. Despite the early stumbles, the Black Queens bounced back, and Kusi's leadership in midfield was vital in the turnaround. "Congratulations to me and the entire team. Being the player of the match means a lot to me," she said. "We won the bronze medal for ourselves and the nation. I am happy we didn't go home empty handed... To be able to go home with a medal is great. I am really excited." She also took time to appreciate the overwhelming support from Ghanaians throughout the campaign. "I thank the nation for their support. I know during the group stage it was really hard for us... We were not just here to participate but at least able to make an impact. That is the dream and I am really excited for that." A Dream Beyond the Present Despite her accomplishments, Kusi remains fueled by ambition. Her journey through clubs in Serbia, Turkey, and now Saudi Arabia reflects her persistence and hunger for growth. But one dream remains firmly in her heart to one day don the jersey of FC Barcelona. "Every player have a favourite team. It was my wish to play for Barcelona," she admitted. "Where I am and where I want to be is a little bit far... I always stay positive. If it happens I could make it one day. That is the dream and I will forever be grateful." Her honesty resonates with young footballers across the continent. Even after more than a decade at the top level, Kusi continues to chase excellence, proving that dreams don't expire with age. Saudi Stint and Shaping the Future Now with Al-Ahli Jeddah in Saudi Arabia, Kusi is one of many African stars helping shape the rapidly developing women's game in the Middle East. While it's different from her previous stints in Europe, she sees promise in her current league and believes it's on a path to global relevance. "I know I am playing in the Saudi League. There is so much difference from the leagues I played before but they are trying to progress in women's football," she explained. "The field is perfect… You could see that we have a lot of Saudi league players in this tournament. This means the competition over there is strong… For the years ahead, the league in Saudi will be amazing." Her work ethic continues to inspire those around her. 'I think she is great,' said team official Seun Oyediji. 'She works like she is at least 25. The way she moves... very well deserved that she won the player of the match. We've been underdogs, but I think the future will be even better.' As Ghana looks ahead with renewed confidence, Alice Kusi stands as both a symbol of resilience and a reminder that the best may yet be to come.
The Hindu
7 days ago
- Business
- The Hindu
Google commits $37 million to AI development in Africa
Google on Thursday unveiled a $37 million package to accelerate artificial intelligence development across Africa, pledging support for local AI research and projects ranging from crop monitoring to adapting technology for the continent's languages. The commitment from the U.S. tech giant also included efforts to back startups in the health and education sectors. "Africa is home to some of the most important and inspiring work in AI today," said James Manyika, a senior vice president at the company, speaking during the launch of an "AI community centre" in Ghana's capital, Accra. The centre will serve as a hub for training, collaboration and experimentation, including programming for AI literacy. Among the flagship initiatives unveiled is the AI Collaborative for Food Security, meant to connect researchers and non-profits to develop tools to improve early hunger detection, crop resilience and decision-making for smallholder farmers. The project aims to help African food systems withstand growing climate and economic shocks. AI has already been deployed by some farmers across the continent, including in nearby Nigeria, long home to a booming domestic tech industry. Local agri-tech companies have popped up to monitor soil conditions for crops or temperature and humidity on chicken farms. Google is also set to launch a financing platform to back AI-driven startups in the agriculture, health and education sectors. Through its philanthropic arm, it committed $7 million to expand AI education initiatives in Nigeria, Kenya, South Africa and Ghana. Google also announced $3 million in funding for Masakhane, a tech collective advancing AI tools in more than 40 African languages. A pair of $1 million research grants meanwhile will go to the African Institute of Data Science and Artificial Intelligence and the Wits Machine Intelligence and Neural Discovery Institute, both in South Africa. Sam George, Ghana's communications and digital technology minister, called on Ghanaians to use AI "to look at how we're going to fix our national challenges such as flooding, waste management and traffic management". Google's past AI initiatives in Africa have focused on maternal health tech in Ghana and Nigeria, wildfire alerts in east Africa and language model development in Accra and Nairobi.
IOL News
24-07-2025
- Sport
- IOL News
Banyana Banyana brave golden run ends in agony
BANYANA Banyana midfielder Linda Motlhalo challenged by Rasheedat Ajibade of Nigeria during the semi-final of the 2024 Women's Africa Cup of Nations in Casablanca. Motlhalo scored a second half as South Africa lost 2-1 as the game finished with traumatic scenes due Gabriela Slagado injury. | BackpagePix History and pride were at stake as Banyana Banyana stepped onto the pitch in the penultimate round of the Women's Africa Cup of Nations, looking to defend their crown in a highly anticipated semi-final clash against rivals Nigeria on Tuesday. However, South Africa's hopes of reaching a second consecutive WAFCON final were dashed as they suffered a narrow 2-1 defeat, their first in the last two tournaments. The loss also meant they missed out on automatic qualification for the 2027 FIFA Women's World Cup, with both finalists — Nigeria and hosts Morocco — now having secured their spots. Morocco booked their place with a dramatic 4-2 penalty shootout win over Ghana following a 1-1 draw after extra time. Banyana will now shift their focus to the third-place playoff, where they will once again face Ghana on Friday. This match will be a rematch from the group stage, where South Africa edged the Ghanaians with a hard-fought 2-0 victory. Since then, Ghana have shown considerable improvement, making this a fixture to watch. The semi-final defeat also marks the second consecutive time Banyana have missed out on a major tournament at the hands of Nigeria. Last year, they fell short in the two-legged Olympic qualifier against the Super Falcons, losing 1-0 on aggregate and missing out on the 2024 Paris Olympics. But luckily this time with another route to World Cup qualification still available, we reflect on three key talking points from Tuesday's encounter.
