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In his keynote address at the 2026 New Year School at the University of Ghana, President John Dramani Mahama reaffirmed his administration's commitment to structural economic reforms. One year into his term, the President emphasized that his "Reset Agenda" is designed to create gains so deeply embedded that they cannot be reversed by future administrations. Dr. Toni Aubynn, CEO of the Petroleum Hub Development Corporation, supported this vision, highlighting the "24-Hour Economy" and the Accelerated Export Development Programme as the engines driving Ghana from a consumption-based to a production-based model. The administration expressed high confidence that the current 17th IMF program will be the nation's last, with an exit planned for mid-2026.
This sets the policy trajectory for the next three years, focusing on fiscal discipline to prevent the cyclical boom-and-bust patterns that have historically characterized Ghanaian election cycles.
Ghana entered its 17th IMF program in 2023 under the previous Akufo-Addo administration following a severe debt crisis. President Mahama, who took office in January 2025, has made the successful completion of this program a cornerstone of his first term.
The specific legislative frameworks introduced in the coming months to "lock in" these gains before the mid-2026 IMF exit deadline.
A memorial statue honoring the late former President Jerry John Rawlings was unveiled in Keta on January 7, 2026, marking the anniversary of the Fourth Republic's inauguration. The statue, which depicts Rawlings in traditional attire, serves as a tribute to his role in establishing Ghana's modern democracy. The ceremony also touched upon Rawlings' unique heritage, including his Scottish father, James Ramsey John, a chemist who worked in colonial Accra. This tribute follows international recognition for the late leader, including a street named in his honor in Burkina Faso.
Jerry John Rawlings was the founding father of the National Democratic Congress (NDC), the party currently in power. He led Ghana from 1981 to 2001 (first as a military leader and then as a democratically elected president) and passed away in November 2020.
Ongoing debate continues regarding the origins of the cedi's recent strength. MP Kojo Oppong Nkrumah (NPP) argued that the currency began its recovery in late 2024, prior to the change in government, citing an exchange rate of GHc14.00 (~$1.30 USD) at the time of the handover. Conversely, NDC representatives attribute the current rate of approximately GHc10.35 (~$0.96 USD) to President Mahama's policies. Amidst this, Nana Akwasi Awuah, former PMMC Managing Director, defended his tenure against claims of a $214 million (~GHc2.29 billion USD) loss in the "Gold for Reserves" program, asserting that financial performance actually improved under his watch and that any reported losses occurred after his departure.
The "Gold for Reserves" program is a critical component of Ghana's strategy to stabilize the cedi and manage fuel prices. Clarity on its management is essential for maintaining public and investor trust.
Ghana's cedi has completed a historic turnaround, appreciating nearly 40% against the US dollar over the past year. According to Bloomberg, the currency moved from a low of approximately GHc17.00 (~$1.58 USD) to roughly GHc10.35 (~$0.96 USD). This recovery has been a primary driver in slashing inflation from 23% in late 2024 to 6.5% in December 2025. National debt has also been reduced by nearly GHc150 billion (~$13.98 billion USD), while GDP growth reached 6.1% in early 2025.
At the current exchange rate of GHc10.73 per dollar, $1,000 USD now yields GHc10,730. While this is less than the GHc17,000 seen in 2024, the 6.5% inflation rate means the cost of goods in Ghana has stabilized significantly, making your support for family more predictable and sustainable.
The sharp decline in inflation and the reduction in national debt signal a massive improvement in Ghana's sovereign risk profile. The 6.1% growth rate suggests that the domestic market is expanding rapidly, particularly in sectors benefiting from the 24-hour economy policy.
The Ghana Revenue Authority (GRA) and the Ghana Union of Traders’ Association (GUTA) have agreed on transitional measures for the new Value Added Tax Act, 2025 (Act 1151). All eligible taxpayers will charge a flat VAT rate of 20% through the end of Q1 2026. This move replaces the previous VAT Flat Rate Scheme and includes the formation of a joint technical team to assist traders with digital record-keeping and compliance requirements.
This agreement prevents a sudden price shock for consumers and gives businesses time to update their accounting systems. However, the 20% rate remains high, and its impact on the cost of living will be closely monitored by both the government and labor unions.
Dr. Eric Oduro Osae has officially assumed the role of CEO at the Institute of Chartered Accountants, Ghana (ICAG) as of January 5, 2026. Dr. Osae, a former Director-General of the Internal Audit Agency and advisor to the UN, brings over 25 years of experience in accountancy and law to the institute.
Dr. Osae's appointment is expected to strengthen financial oversight and corporate governance standards in Ghana. His background in internal auditing suggests a push for greater transparency in both public and private sector financial reporting.
The Forestry Commission is mourning Raphael Ganyo, a Resource Guard who was killed in the line of duty on January 6, 2026. Ganyo was fatally shot in the chest by a suspected poacher while patrolling the Kalakpa Resource Reserve near Zitoe Camp. The 28-year-old guard had been with the commission since 2021. The police are currently investigating the incident.
The Kalakpa Resource Reserve in the Volta Region is a critical area for biodiversity but has faced persistent threats from illegal poaching and logging. This incident underscores the increasing risks faced by wildlife law enforcement officers in Ghana's protected areas.
Benjamin Kwabena, a bicycle repairer in the Atwima Kwanwoma District, has been sentenced to 18 years in prison for the sexual abuse of three siblings—an 11-year-old boy and four-year-old twins. Judge Isaac Apeatu handed down the sentence after it was revealed Kwabena abused his friendship with the children's mother to gain access to them.
This conviction has been praised by child rights advocates, who are calling for more stringent vetting of individuals working in close proximity to community spaces and children's homes.
Police in the Central Region have arrested a man in his late 30s for the alleged murder of his girlfriend, known as Sister Yaa, in Awutu Yamoah Nkwanta. The suspect reportedly attacked the victim with a cutlass and a concrete block after she rejected his sexual advances. He is currently in custody assisting with investigations.
This tragic event has reignited national conversations about domestic violence and the urgent need for better protection frameworks for women in both rural and urban communities.
In a move that could impact global energy markets, the United States, with British support, has seized oil tankers linked to the Venezuelan government in the Atlantic Ocean. The US is also considering a selective rollback of sanctions to allow for the sale of 50 million barrels of oil, which could lower global crude prices.
Why it matters to Ghana: As a net importer of refined petroleum products, any move that decreases global crude prices could lead to further reductions in fuel prices at Ghanaian pumps, providing additional relief to the domestic transport and manufacturing sectors.
Today we covered the historic 40% appreciation of the cedi, President Mahama's plan for a mid-2026 IMF exit, and the implementation of new VAT measures. These developments suggest a stabilizing economic landscape as Ghana enters its second year under the new administration. Thank you for reading the Ghana News AI Daily Brief!
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