Kasapreko Lists as GH¢1bn Chases Limited Float

Roger A. Agana
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Kasapreko Lists as GH¢1bn Chases Limited Float

Kasapreko Company Limited lists on the Ghana Stock Exchange today with roughly GH¢1 billion in refunded IPO cash set to follow it straight back into the market.

The beverage producer enters secondary trading under the ticker KASA facing demand its Initial Public Offering (IPO) could not fully satisfy. Bids of approximately GH¢1.73 billion came in against the GH¢700 million it sought to raise. Managers allocated shares at a uniform rate of 40.56 percent across all investor categories and returned the balance to 18,781 applicants, leaving each group of buyers short of its original position.

That refunded capital is now liquid, and analysts expect at least a portion of it to return for shares through open market trading from today.

Two groups of buyers are likely to compete from the opening bell. Investors who participated in the IPO but received only partial allocations will want to close the gap between what they were allotted and what they originally sought. Those who missed the IPO window entirely will be entering without any position at all.

The early supply picture favours buyers over sellers. Local institutional investors bid for more than 1.08 billion shares against a total float of 583.3 million. Even the largest participants received less than half of what they applied for. Those investors have little reason to offer shares at GH¢1.20, the IPO price, when visible demand outruns supply.

Kasapreko, best known for its Alomo Bitters brand, plans to use the funds raised to build a production facility for bottled water and carbonated soft drinks. Board Chairman Samuel Leslie Adetola said the oversubscription reflected investor confidence in the company and in Ghana’s capital markets.

The listing comes as the Ghana Stock Exchange (GSE) closes one of its strongest runs in years. The GSE Composite Index has climbed 63.67 percent so far this year, supported by a fall in consumer inflation from 18.4 percent a year ago to 3.7 percent in May and a steep drop in Treasury bill yields that has pushed investors toward equities.

How Kasapreko trades in its first sessions carries weight beyond the company itself. Sustained secondary market activity would signal to other Ghanaian businesses that the exchange can handle new listings at scale and test whether the broad investor participation seen during the IPO translates into genuine ongoing trading depth. Analysts say a strong debut could encourage further listings and wider use of capital market financing by local companies.

Kasapreko Lists as Ghana Stocks Rank Second in Africa

Roger A. Agana
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Kasapreko Lists as Ghana Stocks Rank Second in Africa

Ghana’s stock market ranked second in Africa for returns this year, with its benchmark index up 63.67 percent as investors fleeing Treasury bills drove a broad equity rally.

The Ghana Stock Exchange (GSE) closed May with a market capitalisation of GH¢262.95 billion, a year to date gain of 52.84 percent and the addition of nearly GH¢91 billion in market value over the past twelve months. The GSE Composite Index (GSE-CI) stood at 14,354.79 points, while the GSE Financial Stocks Index (GSE-FSI) gained 68.99 percent to 7,854.35 points.

Fincap Securities market analyst John Nani estimates Ghana generated dollar denominated returns of approximately 60.95 percent through the end of April, placing it behind only Nigeria among major frontier and emerging African markets and ahead of Egypt, Kenya, Tunisia and South Africa.

The driving force has been a steep fall in consumer prices. Inflation dropped to 3.7 percent in May from 18.4 percent a year earlier, pulling Treasury bill yields sharply lower. Treasury bills maturing in 91, 182 and 364 days now yield 4.99 percent, 7.04 percent and 10.46 percent respectively, leaving equities far more attractive for investors seeking returns above inflation.

Trading figures reflected the shift. Total traded volume rose 168.5 percent year on year to 92.74 million shares in May, while the number of transactions surged 347.1 percent to 89,945 trades. Year to date, investors traded 716.25 million shares worth GH¢3.41 billion, up 503.2 percent and 323.6 percent respectively against the same period in 2025.

Investment advisory firm EcoCapital attributed part of the surge to a mix of long term positioning and short term momentum trading. “The broader trend suggests growing confidence in equities as an asset class again,” said EcoCapital Chief Executive Dela Agbo.

MTN Ghana dominated market activity, accounting for roughly 80 percent of total market value traded in May and approximately 79 percent of cumulative market value traded across the first five months of the year. Analysts say the concentration creates efficient trading conditions but also ties market performance closely to a single dominant stock.

Banking stocks led the gains. Several lenders, including GCB Bank, Access Bank, CAL Bank, Republic Bank Ghana, Ecobank Transnational Incorporated and Societe Generale Ghana, recorded significant advances as lower interest rates, better asset quality and stronger earnings rebuilt investor confidence. Asset manager Databank said the sector has shifted from capital preservation to earnings growth after two years of rebuilding since the Domestic Debt Exchange Programme (DDEP). The insurance and energy sectors have also attracted fresh capital, with Enterprise Group and SIC Insurance gaining on stronger profitability, and GOIL and ZEN Petroleum drawing interest on expectations of higher downstream petroleum earnings.

New listings test the market’s depth

The rally has begun to translate into corporate fundraising. ZEN Petroleum raised GH¢640 million through an initial public offering (IPO) that drew bids of approximately GH¢970 million. Kasapreko’s GH¢700 million offer went further: the beverage manufacturer attracted applications worth nearly GH¢1.73 billion from 18,781 qualified investors competing for 583.3 million shares. The 146 percent oversubscription forced a uniform allocation rate of 40.56 percent across all investor categories.

Local institutional investors dominated demand, bidding for more than 1.08 billion shares, or roughly three quarters of total subscriptions. Individual investors and foreign participants accounted for the balance.

Kasapreko, best known for its Alomo Bitters brand, begins trading on the GSE today under the ticker KASA. Whether the oversubscription demand carries into live trading will give the clearest signal yet of how deep appetite for new listings has grown. Fincap Securities said the stronger performance in the secondary market is already improving confidence among potential issuers, and sustained momentum could encourage additional listings and corporate bond issuances.

Second half risks

Databank forecasts the GSE-CI could reach 16,000 points by year end, supported by economic recovery, earnings growth and demand for dividend paying stocks. Most analysts expect the pace of gains to moderate in the second half while the broader upward trend remains in place.

Risks include a possible return of inflation, which ticked upward twice this year before settling at 3.7 percent in May, along with cedi depreciation of roughly 11 percent against the US dollar year to date, fiscal slippages and global oil prices of around US$90 per barrel. Databank also flagged geopolitical tensions as a potential threat to foreign exchange inflows and growth momentum.

Despite those pressures, analysts broadly agree the market remains in a cyclical bull phase, with equities continuing to offer better returns than most domestic fixed income alternatives.

Begging Claims Resurface at Newly Renamed Accra Airport

News Ghana
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Begging Claims Resurface at Newly Renamed Accra Airport

Ghanaian travellers have renewed complaints on social media about airport staff allegedly soliciting tips, locally called nokofio, months after the government rebranded the airport as Accra International Airport.

Posts shared in recent days describe encounters across check in, security and boarding areas, with some travellers saying staff asked them for money even after they completed normal procedures. The posts do not name specific individuals or departments, and Ghana Airports Company Limited (GACL) had not issued a public response to the claims at the time of writing.

The complaints come less than four months after the government reverted the airport’s name from Kotoka International Airport to Accra International Airport, a change the Ministry of Transport said would restore the facility’s original, internationally recognised identity. The rebrand runs alongside a modernisation programme worth about 800 million dollars, covering Terminal 2 and other facilities.

This is not the first time such claims have surfaced. Similar accounts circulated widely in 2024, when travellers described cleaners, parking attendants and other staff approaching them for extra payments after they had completed standard transactions and paid required fees. Those reports did not lead to any publicly announced changes in airport procedure.

Critics say the practice undercuts Ghana’s pitch to tourists, business travellers and investors at a time when officials are promoting the renamed airport as a modern gateway to West Africa. They are calling on GACL and other relevant state agencies to investigate and enforce existing rules against unofficial payments.

Mourinho Eyes Cucurella as First Real Madrid Signing

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Mourinho Eyes Cucurella as First Real Madrid Signing

Real Madrid have reached a verbal agreement to sign Chelsea left back Marc Cucurella, one of new head coach Jose Mourinho’s first transfer targets since taking charge on June 11.

According to transfer journalist Fabrizio Romano, the agreement covers all parties, including the player, and Cucurella would join Real Madrid once Spain’s World Cup campaign ends. Romano used his trademark confirmation phrase, a signal he considers the move all but complete.

Mourinho returned to Real Madrid on June 11, when the club’s board appointed him head coach for the next three seasons, the club said. He replaces interim boss Alvaro Arbeloa, who had been in charge since the club removed Xabi Alonso after less than eight months. The appointment marks Mourinho’s second spell at the helm, following three years in charge from 2010 to 2013, during which he won a domestic league title and two cup trophies.

The reported approach comes just days after Cucurella told reporters he was settled in London. “I’m very happy where I am,” he said, adding that his family felt the same.

Cucurella came through Barcelona’s La Masia academy, and much of the speculation around him this year had pointed toward a return there or to Atletico Madrid rather than Real Madrid.

Neither club has confirmed financial details. Spanish reports put the release clause at around 50 million euros, while British outlets cite figures between 35 million and 52 million pounds, neither of which Real Madrid or Chelsea have verified.

Cucurella, 27, joined Chelsea from Brighton in 2022 for a fee of around 60 million pounds and has made more than 100 appearances for the London club. He has been a regular for Spain, helping the country win Euro 2024, and is part of the squad at the 2026 World Cup.

Arrest The Dansoman Chief Now! Withdraw His Gazette Status…Drug Allegations Spark Public Outcry

Prosper Kay
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Arrest The Dansoman Chief Now! Withdraw His Gazette Status…Drug Allegations Spark Public Outcry

A disturbing audio recording circulating on social media has sparked widespread concern. The recording, alleged to contain the voice of Nii Danso, the Chief of Dansoman, reportedly includes claims of past involvement in drug trafficking, imprisonment in the United Kingdom, relocation to the United States, and eventual deportation to Ghana in the late 1980s. Public outrage is understandable. When custodians of tradition and community leaders become associated with allegations of serious criminal conduct, it strikes at the very foundation of public trust.

If the audio is authentic, the implications are profound. The statements attributed to the chief appear not only to acknowledge a criminal past but also to justify it by suggesting that many respected individuals of that era were engaged in similar activities. Such remarks, if verified, raise serious questions about leadership, accountability, and the moral standards expected of traditional authorities.

A chief is not merely a titleholder. A chief is a custodian of culture, morality, and communal values. The office demands dignity, integrity, and conduct worthy of emulation. When allegations of serious criminal conduct arise against a traditional leader, the public deserves answers.

The Criminal Investigations Department (CID) of the Ghana Police Service should invite Nii Kojo Danso for questioning and conduct a thorough investigation into the claims contained in the circulating audio. Equally, the Ministry responsible for Chieftaincy Affairs, together with the relevant Regional and National Houses of Chiefs, should examine the matter and determine whether any legal or customary breaches warrant further action, including a review of his gazette status if the allegations are substantiated.

We cannot claim to be fighting drug abuse while appearing indifferent to allegations involving persons occupying positions of authority. The battle against narcotics cannot be won if society celebrates individuals accused of profiting from a trade that destroys lives, families, and communities. No gazette without NACOC clearance,
therefore the Ministry of Chieftaincy and Religious Affairs, in collaboration with the National House of Chiefs and NACOC, must immediately, ensure a mandatory NACOC vetting of all chiefs before gazetting.

This is not merely about one individual. It reflects a disturbing trend in which persons linked to narcotics-related offences or allegations continue to find acceptance, influence, and prestige in public life.

Perhaps the most notable examples are, in June 2025, the Narcotics Control Commission (NACOC) reportedly arrested Nicholas Fiagah, a sub-chief at Ankwa-Doboro, following the discovery of a substantial quantity of suspected cannabis during a raid. Years earlier, Nana Kwame Ansong, a sub-chief of Worawora, was also reportedly arrested in connection with suspected cannabis trafficking.

The larger concern is the gradual normalisation of criminality. When wealth becomes the sole measure of success, society begins to overlook how that wealth was acquired. Communities celebrate the benefactor while ignoring the source of the fortune. The dangerous message this sends to young people is devastatingly simple: crime pays. Such thinking undermines the values upon which every stable society is built. Hard work, integrity, lawful enterprise, and personal responsibility begin to appear less rewarding than shortcuts to wealth and influence.

The consequences extend far beyond morality. Ghana’s international reputation, investor confidence, and commitment to the rule of law are all affected when individuals with serious criminal histories or unresolved allegations are elevated to positions of authority without proper scrutiny. Public confidence in state institutions weakens when citizens perceive that wealth and influence can outweigh accountability.

Traditional leadership remains one of Ghana’s most respected institutions. Chiefs are expected to be custodians of custom and guardians of communal values, not symbols of controversy. If allegations arise, they must be addressed through due process, transparency, and strict adherence to the law.

This matter should not be settled by social media speculation, political loyalty, personal friendships, or public emotion. It must be settled by facts, evidence, and due process. If the audio is authentic, the public deserves a full explanation. If the allegations are false, the chief of Dansoman, deserves complete vindication.

Either way, silence is not an option. The integrity of our traditional institutions or the moral future of our nation is not optional, it is the price of public trust.

The author is a researcher in governance and organised crime

Four Arrested for Threatening New Bortiano Chief, Forced to Sign Peace Bond

Prosper Kay
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Four Arrested for Threatening New Bortiano Chief, Forced to Sign Peace Bond

The Criminal Investigation Department (CID) at the National Police Headquarters has arrested four men in connection with threats and attempts to obstruct the installation of Nii Koi Aku V, the newly installed chief of Bortiano.

The suspects – identified as Tetteh Ojugu, Kotei Grader, Kofe Gyaase, and Jacob – were picked up by police for questioning and made to sign a bond to abstain from obstructing the chief’s activities and to desist from disturbing the peace of the Bortiano township.

Sources revealed say the men allegedly breached the bond days later by inciting some residents to block the chief from being presented to the community.

The incident followed an attempt by the Asafo group to carry the chief through the township for public introduction, despite prior warnings against doing so.

sources said the arrests were necessary to prevent escalation and maintain order in the township during the chief’s transition period.

Investigations are ongoing, and police have warned against further attempts to incite unrest.

Under the terms of the bond signed at the CID Headquarters, the suspects are required to refrain from any action that disturbs the peace or undermines the authority of the Bortiano stool.

The Bortiano Traditional Council has also called on residents to support the new chief and avoid acts that threaten the stability of the community.

PTA Chairman Urges Book Funding as Free SHS Review Nears

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PTA Chairman Urges Book Funding as Free SHS Review Nears

Parents at Aggrey Memorial Senior High School in Cape Coast must buy books for their children, the parents’ association chairman says, just days after government announced a Free SHS review.

Omar Bin Abdullah, chairman of the Parent Teacher Association at the school, made the appeal as Aggrey Memorial graduated more than 700 final year students. He said some parents lean on the Free SHS policy and refuse to provide books or contribute to the school’s upkeep. “Do your possible best to support the school,” he told the gathering, adding that government could not sustain the programme without help from parents.

His appeal comes just days after Education Minister Haruna Iddrisu announced a nationwide review of the Free Senior High School programme, bringing together teachers, parents, school heads and civil society groups to address funding and implementation gaps that have strained schools.

The programme already consumes a large share of education spending. The 2026 budget allocates 4.2 billion cedis from the Ghana Education Trust Fund toward Free SHS costs, up from 3.5 billion cedis in 2025, with most of that money covering feeding and daily running costs rather than infrastructure, according to the policy group EduWatch.

Bin Abdullah said the Aggrey Memorial PTA has tried to close some of those gaps itself, funding a dormitory, water systems and 100 student beds in recent years. He thanked teachers for guiding the graduating class and called on parents to match that level of commitment.

Headmistress Dorothy Adentwi-Hayford, speaking on the theme of leadership and lifelong commitment to what the school calls the Aggrey Spirit, told graduates to pursue excellence whether they proceed to further education or enter the workforce. She urged them not to fear failure, citing public figures who overcame major setbacks before achieving lasting success.

Manly-Spain Files For Divorce: Accuses Wife Of Adultery …High Gov’t Official Cited In The Saga

Prosper Kay
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Manly-Spain Files For Divorce: Accuses Wife Of Adultery …High Gov’t Official Cited In The Saga

A leading member of the ruling National Democratic Congress (NDC) and former Vice President of Ghana Boxing Authority (GBA), Mr Henry Ekow Manly-Spain, has filed for divorce by accusing the wife, Ivy Manly- Spain, of committing an adultery with a high ranking government of Ghana official.

In addition, he accused his wife of using their companies funds without consultation with him, as the husband, since she manages the funds.

Sources say Manly-Spain allowed his wife to manage the finances of their companies because he (Manly-Spain) was a highly politically exposed person and did not want to mix politics with corporate business affairs.

According to Manly-Spain, by that reason of the adultery, he allegedly finds it unforgivable to live with the wife, Ivy Manly-Spain.

Our sources within the family in America allegedly revealed that both of them have not been able to reconcile their differences to savage the marriage.

Family sources further alleged that the marriage has broken down beyond reconciliation.

During this year’s Mother’s Day celebration, our investigative reporter was briefed that the children were so sad that a family that once solidly stood together was about to go down in history.

Attempts to speak to both parties have proved futile.

Stay tuned as we bring you more updates.

Recalled After Three Years, Baba Rahman Vows Fight for Ghana

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Recalled After Three Years, Baba Rahman Vows Fight for Ghana

Black Stars defender Abdul Baba Rahman, recalled after three years, has pledged to fight for Ghanaians as Ghana’s World Cup campaign opens against Panama on June 17 in Toronto.

Rahman spoke to AshesGyamera from the squad’s training base in Providence, Rhode Island, where the team arrived on June 11 for final preparations. “We will fight to make Ghanaians proud,” he told the outlet.

His words carry extra weight given his own path back into the squad. The Ghana Football Association named him in its provisional World Cup group in May, his first call up since September 2023, ending nearly three years away from the national team. Communications Director Henry Asante Twum told Asempa FM the recall was a purely technical decision by head coach Carlos Queiroz, who took over in April after Otto Addo left the role despite guiding Ghana through a near flawless qualifying campaign.

Not every fan welcomed the move. After Ghana’s one all draw with Wales in Cardiff on June 2, some supporters used social media to call for Rahman to be left out of the squad, citing past lapses in big matches, while others argued his experience at left back would help a defense short on cover.

Ghana arrives at the tournament off a difficult run of results. The team lost to Mexico by two goals to nil last month, then settled for that one all draw against Wales, extending a winless streak to seven matches. The form stands in contrast to a qualifying campaign in which Ghana topped its group with 25 points from 10 games, recording eight wins, one draw and one loss.

This marks Ghana’s fifth appearance at the World Cup. After facing Panama, the Black Stars meet England in Boston on June 23, then Croatia, the 2018 runners up, in Philadelphia on June 27. A third place finish in the group could still be enough to advance under the tournament’s expanded format.

Former Chief Justice Akuffo Quits Council Of State

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Former Chief Justice Akuffo Quits Council Of State

Former Chief Justice Sophia Akuffo has quietly left Ghana’s Council of State, months after her defence of an ousted Chief Justice triggered calls for her own removal.

President Mahama swore Akuffo and 30 other members into the ninth Council of State in February 2025, with former Speaker Edward Doe Adjaho as chairman. Akuffo led Ghana’s judiciary as the country’s 13th Chief Justice from 2017 to 2020. She is understood to have submitted her resignation toward the end of 2025 and has not attended a Council meeting since, including the most recent session three days ago. Neither Akuffo nor the Presidency has commented, and the reasons for her departure remain undisclosed.

Her time on the Council coincided with one of Ghana’s most consequential judicial disputes. In April 2025, the Council voted on whether a prima facie case existed against then Chief Justice Gertrude Torkornoo, with 30 of 31 members in favour. Akuffo was the only member to abstain. President Mahama signed the warrant removing Torkornoo on September 1, 2025.

Akuffo went further than her abstention. At Torkornoo’s request, she appeared before the Article 146 committee set up to examine the case and testified in her defence. In a September 2025 interview, she argued that Torkornoo had not received a fair hearing and that the allegations against her did not carry the weight needed to remove the head of a justice institution. She called the proceedings a “treason trial” and said they had weakened the judiciary.

Those remarks brought consequences of their own. Kwaku Ansa-Asare, a former director of the Ghana School of Law, accused Akuffo of breaching her oath of secrecy as a Council member, arguing that her comments indirectly disclosed confidential proceedings. United Party member Solomon Owusu went further, announcing plans to petition for her removal and questioning how she could testify for Torkornoo while still sitting on the Council that had voted on the prima facie case. Akuffo has not responded to either accusation.

Her resignation leaves the Council of State without one of its most outspoken recent members, with no replacement announced and the wider debate over the Council’s independence from the executive still running alongside the Torkornoo case.

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