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Finance Minister Dr. Cassiel Ato Forson has initiated high-level consultations to activate President John Mahama's $10 billion USD 'New Economy' program. The strategy centers on the 'Feed the Industries' policy, which links large-scale agricultural clusters to domestic processing plants. Key initial steps include the removal of a 20% excise duty on locally produced fruit juices and the development of the Northshore Apparel Hub in Savelugu. This initiative is projected to create 250,000 jobs and supports the administration's flagship 24-Hour Economy agenda.
This represents a shift from emergency economic stabilization to a long-term industrialization strategy. If successful, it could significantly reduce Ghana's reliance on imported finished goods and stabilize the cedi through increased exports.
President Mahama, who took office in January 2025, has made the 24-Hour Economy a cornerstone of his administration's plan to tackle youth unemployment and maximize industrial capacity.
Ghana's State-Owned Enterprises (SOEs) have reported a consolidated net profit of GHc19.8 billion (~$1.76 billion USD) for 2025, a massive reversal from the GHc2.3 billion (~$204 million USD) loss recorded in 2024. This 28% surge in revenue is attributed to stricter corporate governance under the State Interests and Governance Authority (SIGA) and a 62.9% reduction in financial irregularities across audited sectors.
The reduction in financial irregularities from GHc20.72 billion (~$1.84 billion USD) to GHc7.69 billion (~$682 million USD) signals a significantly improving climate for public-private partnerships and SOE joint ventures.
The World Bank's 10th Ghana Economic Update has described the nation's recent disinflation as one of the most dramatic in global history. Headline inflation, which sat at 23.2% in February 2025, crashed to 5.0% by August 2026. This has allowed the Bank of Ghana to slash the Monetary Policy Rate to 14%, leading to commercial lending rates falling from 27% to 15.6%. Real GDP growth for Q1 2026 reached 6.4%, driven by a strategic rebalancing of gold reserves and improved fiscal discipline.
Lower interest rates mean cheaper capital for Ghanaian startups and SMEs, which have historically been stifled by borrowing costs exceeding 30%.
With the cedi seeing a 28% real effective appreciation in 2025 and inflation stabilizing, the environment for 'Returnee' entrepreneurship and property investment is the most favorable it has been in five years.
Perseus Mining (Ghana) Limited has paid a GHc391 million (~$34.7 million USD) dividend to the government for the 2026 financial year, a seven-fold increase from the previous year. Finance Minister Dr. Ato Forson credited the surge to favorable global gold prices and the government's 'sliding-scale' royalty regime, which ensures the state captures higher value during commodity booms.
The Finance Minister confirmed that the government intends to abolish the Growth and Sustainability Levy and has no plans for new mining taxes in the medium term, prioritizing fiscal stability to attract long-term capital.
Customs Commissioner Aaron Kanor has issued a directive that travelers arriving in Ghana with more than two mobile phones or similar electronic gadgets may be charged commercial import duties. The GRA argues that premium smartphones have high resale value and carrying multiple units—even as gifts—is often a veiled form of commercial importation.
If you are planning a trip home, limit your personal devices to two to avoid heavy fines or seizures at Kotoka International Airport. The GRA is now using automated passenger profiling to identify high-frequency travelers carrying electronics.
The Bank of Ghana and SEC have warned of a fraudulent scheme called 'Daily Wealth Guide.' The scam uses a 'deepfake' or doctored video of President John Mahama to trick victims into investing. Regulators emphasize the platform is unlicensed and that the President has not endorsed any cryptocurrency schemes.
This follows a 48% rise in reported fraud cases in Ghana's payment sector. The Cyber Security Authority (CSA) reports that online fraud now accounts for 47% of all cyber incidents in the country.
The Food and Drugs Authority (FDA) has ordered an immediate recall of Arcan Bitters and shut down its manufacturing facility in the Ashanti Region. Laboratory tests found the alcoholic beverage was adulterated with Sildenafil Citrate (the active ingredient in Viagra). Consuming this without medical supervision, especially with alcohol, can cause heart attacks and fatal drops in blood pressure.
The manufacturer has 14 days to clear all stock. Expect more stringent FDA 'spot checks' on the local herbal bitters market in the coming months.
Komfo Anokye Teaching Hospital (KATH) in Kumasi reported 55 maternal deaths in the first half of 2026, down from 78 in 2025—a 30% reduction. The hospital credited new investments in a specialized maternal intensive care unit and an Assisted Reproductive Technology center for the improvement.
Today we covered Ghana's historic drop in lending rates to 15.6%, the government's $10 billion USD 'New Economy' roadmap, and critical warnings for travelers and digital investors. Thank you for reading the Anansi News Daily Brief!
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