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The Ministry of Trade, Agribusiness and Industry announced on February 3, 2026, that the United States has granted a one-year extension to the African Growth and Opportunity Act (AGOA). This diplomatic breakthrough, led by Trade Minister Elizabeth Ofosu-Adjare, follows a period of intense pressure where Ghanaian exporters faced a 10% universal tariff in April 2025 and a 15% specific tariff in August 2025. The reprieve maintains duty-free access for over 32 African nations, including Ghana.
This extension prevents the immediate collapse of labor-intensive sectors like garments and cocoa processing, which were becoming uncompetitive due to rising tariff walls. It provides the Mahama administration time to negotiate more permanent trade terms.
AGOA has been a cornerstone of U.S.-Africa trade since 2000. Ghana’s recent tariff challenges were part of a broader shift in U.S. trade policy in 2025, making this extension a significant win for local manufacturing.
The University of Ghana (UG) has restricted fitness activities in high-traffic zones, such as the Convocation building, after 7:30 a.m. on weekdays. Signed by the Registrar, the notice aims to prevent exercise groups from disrupting administrative and academic functions. The university has directed enthusiasts to use the Sports and Wellness Directorate facilities instead.
The Legon campus is a popular destination for Accra residents and students for morning jogs. This directive seeks to balance the university's primary academic mandate with its role as a community wellness hub.
Ghana's inflation rate dropped to 3.8% in January 2026, the lowest level since August 1999 and the 13th consecutive month of decline. This recovery is underpinned by the Cedi's 40.7% appreciation against the USD and a primary balance surplus of 2.8% of GDP. However, economists like Professor Godfred Bokpin warn of 'rate rigidity,' as commercial borrowing costs remain high despite the Bank of Ghana reducing the policy rate to 15.5%.
The decoupling of inflation from borrowing costs means that while prices for goods are stabilizing, the cost of capital for business expansion remains prohibitively expensive.
At the current exchange rate of GHc10.73 per 1 USD, your dollar has stable purchasing power. However, be aware that high borrowing costs in Ghana make local financing for projects less attractive than external funding.
Ghana's Gross International Reserves now stand at $13.8 billion (5.7 months of import cover), signaling strong macroeconomic stability. Watch the '24-Hour Economy' policy implementation for potential impacts on labor productivity and supply chain costs.
Finance Minister Dr. Cassiel Ato Forson has launched local gold refining at the Gold Coast Refinery, partnering with South Africa's Rand Refinery to process up to 2 metric tonnes weekly. To support this, Ghana is establishing its first modern fire assay laboratory to independently verify gold purity. Simultaneously, GoldBod is piloting a traceability program for 600 mines to ensure gold isn't sourced from 'galamsey' (illegal mining) sites.
The government is proposing a sliding scale for royalties (5% to 12%) tied to global prices. This adds predictability to the fiscal regime for mining companies.
Ghana is Africa's leading gold producer, but has historically exported raw ore. Local refining is a centerpiece of the current administration's 'value-addition' economic strategy.
If you are shipping vehicles to Ghana, ensure your clearing agents are using official DVLA rates for registration to avoid significant overcharging.
A violent three-vehicle collision on the Winneba–Mankessim highway has left 12 people critically injured. Emergency responders from the GNFS extricated victims from a Toyota Voxy and Nissan Altima at Gomoa Amenfi. In a more positive development, the Ghana Medical Trust Fund allocated GHc1,141,500 (~$106,384 USD) to fund life-saving heart surgeries for eight children at Korle Bu Teaching Hospital.
The Medical Trust Fund is in a pilot phase; a full national rollout is scheduled for April 2026. This could significantly reduce the financial burden on families with children needing cardiac care.
In Rivers State, Nigeria, Ghanaian national Frimpong Samuel was arrested after allegedly removing the roof of a tenant's apartment to force an eviction. A subsequent rainstorm destroyed property valued at N25 million. Nigerian police have charged Samuel with a criminal offense, noting that de-roofing occupied premises is illegal.
This incident reflects the legal risks Ghanaians face abroad when engaging in 'self-help' measures in property management, which are strictly penalized in Nigeria's judicial system.
Fulham's Alex Iwobi disclosed that he sustained a finger injury in a challenge with Manchester United's Kobbie Mainoo. Iwobi humorously noted that Mainoo, who represents England but is of Ghanaian descent, possesses "Ghanaian strength."
Black Stars context: While Mainoo is currently in the England setup, diaspora fans continue to monitor his progress closely, hoping for a future switch or simply celebrating his success as a representative of the heritage.
Ghanaian musician Snowbird was arrested after crashing a stolen vehicle during a high-speed chase by motorcyclists. The incident occurred just days after the release of his single 'Survivor,' which has now gone viral under ironic circumstances.
The case has sparked a national conversation about the extreme financial pressures faced by upcoming artists in the digital age.
Chadian collective Afrotronix has collaborated with Ghana's Stonebwoy on the track 'Beyond the Sky.' The project, part of the album KÖD, blends ancestral Chadian rhythms with Ghanaian dancehall and mbalax.
This represents a growing trend of intra-African collaborations that bypass Western labels to create a unique continental sound.
Today we covered Ghana's historic 3.8% inflation milestone, the strategic shift to local gold refining, and the critical trade reprieve from the U.S. under the AGOA extension. Thank you for reading the Ghana News AI Daily Brief!
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