Ghana Business News

Follow the latest Ghana business and economy news: the cedi, inflation, companies, banking, and trade. Coverage is curated from Ghana's leading newsrooms and kept current through the day, newest first.

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Government exceeds treasury bills auction target by 76%

The Government of Ghana has exceeded its treasury bills auction target by 76.4%, raising GH₵5.06 billion in total bids against an initial target of GH₵2.86 billion. This surge in investor demand comes despite market predictions of softer interest, indicating a robust appetite for government securities in the current fiscal climate. Analysis of the auction results reveals that the 91-day instrument was the primary driver of this performance, attracting GH₵3.2 billion in bids and accounting for 64.9% of the total volume. Of the GH₵5.06 billion offered by investors, the Treasury ultimately opted to accept GH₵4.40 billion, effectively balancing its short-term liquidity requirements while maintaining its domestic debt strategy. Interest rates across the various tenors showed a continued softening trend, which helps reduce the government's overall cost of domestic borrowing. The 91-day bill rate was recorded at 4.60%, while the 182-day and 364-day bills settled at 6.27% and 9.75%, respectively. These declining rates suggest a stabilization in the domestic credit market and a decrease in the premium required by investors. This successful auction provides the Treasury with significant fiscal breathing room. By securing more funds than anticipated at lower interest rates, the government can more effectively service its existing debt and fund public expenditures. Market analysts will continue to monitor whether this strong demand and softening yield trend persist in the upcoming weeks.

Ghana’s Elite PR nominated for “PR Agency of the Year” at The West African Citizen Awards 2026
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Elite PR nominated for West African PR Agency of the Year award

Ghanaian public relations firm Elite PR has been nominated for the "PR Agency of the Year" category at the upcoming West African Citizen Awards (WAFRIC) 2026. This nomination highlights the firm’s significant contributions to the communications industry over the past six years, during which it has established itself as a key player in managing reputations for clients across Africa and beyond. The recognition reflects the agency's growing influence and its ability to execute successful campaigns that resonate within the sub-region. Founder Francis “Banks” Amissah attributed the nomination to the agency's unwavering commitment to authenticity and excellence in client representation. He expressed gratitude for the recognition, noting that the agency has focused on delivering tailored communication solutions that maintain high standards while navigating the complexities of the African media landscape. According to Amissah, the nomination is a testament to the hard work of the team and the impact they have made on their clients' reputations since the firm's inception. The West African Citizen Awards are designed to foster a culture of recognition by celebrating exceptional achievements across various sectors within West Africa. By spotlighting firms like Elite PR, the awards aim to encourage innovation and professional excellence in the regional business community. This nomination places the Ghanaian agency among the top tier of communications consultants in West Africa, marking a significant milestone in its growth trajectory as it continues to expand its footprint.

OmniBSIC Bank hosts 11th annual 12-kilometre health walk at Legon
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OmniBSIC Bank hosts 11th annual 12-kilometre health walk at Legon

OmniBSIC Bank successfully organized its 11th annual Health Walk, a 12-kilometre event held at the University of Ghana Sports Stadium in Legon. This year’s edition continued the bank's tradition of merging physical wellness with professional networking, attracting a diverse crowd of staff, customers, and business partners. The event highlights the institution's ongoing commitment to fostering a healthy lifestyle among its stakeholders while strengthening community and corporate bonds. The walk’s route covered notable landmarks within the University of Ghana campus, providing an energetic environment for both exercise and social interaction. Akyaa Afreh Arhin Addo-Kufuor, Chairperson of the Health Walk Committee, emphasized the bank’s dedication to maintaining the event's high standards. She noted that the safety and comfort of participants remained a top priority, which was ensured through the deployment of professional physical instructors and comprehensive security measures throughout the course. Justin Carl Arhin, OmniBSIC Bank’s Head of Corporate Communications, described the turnout as energetic and significant. He highlighted that the health walk serves as a strategic platform for creating business opportunities and fostering economic connections. By bringing together various stakeholders, the bank aims to demonstrate the direct link between physical well-being and professional productivity, suggesting that a healthier community is essential for a more vibrant economy. The bank reaffirmed its intention to sustain these health-oriented initiatives as part of its broader corporate responsibility and engagement strategy. The successful conclusion of the 11th edition reinforces OmniBSIC Bank’s position as a community-centered institution that values the holistic development of its partners. Organizers encouraged all participants to incorporate regular exercise into their daily routines as a foundation for long-term personal and professional success.

Joseph Cudjoe urges shift from natural resources to human capital
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Joseph Cudjoe urges shift from natural resources to human capital

Joseph Cudjoe has issued a call for a fundamental shift in Ghana's economic strategy, arguing that the nation must prioritize human capital and STEM education over its reliance on natural resource endowments. In a detailed critique, he challenged what he described as a "dangerous mindset" prevalent in Ghana—the belief that the country’s prosperity is solely dependent on its gold, oil, and other raw materials. Instead, he emphasized that sustainable wealth is built on skills, innovation, and technological development. Drawing comparisons with global economic leaders, Cudjoe pointed to countries such as Singapore and Japan as primary examples of how nations can achieve immense wealth despite having few natural resources. He noted that these countries focused heavily on education and technological advancement, proving that human ingenuity is a more stable and productive foundation for an economy than the volatile markets of natural resources. According to Cudjoe, Ghana’s historical reliance on its mineral and agricultural wealth has often led to economic instability, necessitating a move toward a knowledge-based economy. A central pillar of Cudjoe's proposal is the aggressive expansion of Science, Technology, Engineering, and Mathematics (STEM) education. He argued that enhancing the nation's productive capabilities requires a workforce equipped with modern technical skills. By fostering an environment of innovation, he believes Ghana can break free from the cycle of exporting raw materials and instead develop industries that add significant value through technology and specialized labor. The call to action raises critical questions regarding the current administration's commitment to these educational goals and whether enough is being done to secure the future of the youth. While efforts to promote STEM have been initiated in recent years, Cudjoe's perspective suggests that a more radical prioritization of human resources is necessary. The proposed transition from a resource-dependent economy to one driven by human capital remains a pivotal challenge for Ghana's long-term development path.

Dr. Mohammed Amin Adam, Ghana's Minister for Finance, is seen speaking into a microphone at a formal engagement. He is wearing a navy blue suit with a purple patterned tie and glasses, seated in a grey high-back chair.
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Johnson Asiama to engage global investors at 2026 IMF annual meetings

The Governor of the Bank of Ghana, Dr. Johnson Pandit Asiama, has announced that Ghana will strategically utilize the 2026 International Monetary Fund (IMF) and World Bank Group (WBG) Annual Meetings to engage with the global investment community. Scheduled to take place in Thailand, these meetings serve as a primary platform for the Ghanaian delegation to showcase the nation's economic progress and pursue new avenues for growth and stability. According to Dr. Asiama, the upcoming meetings represent a crucial opportunity for Ghana to strengthen its existing relationships with development partners while negotiating fresh economic support agreements. The Governor emphasized that the primary focus of the delegation will be to demonstrate the tangible benefits of Ghana’s recent economic developments, aiming to convert international interest into concrete investment projects that support national development. By participating in these high-level discussions, Ghana seeks to bolster investor confidence on the international stage. Dr. Asiama highlighted that the engagement in Thailand will allow the country to directly address the concerns and interests of global investors, forging partnerships that are essential for long-term economic resilience. This proactive approach is part of a broader strategy to position Ghana as a stable and attractive destination for foreign direct investment within the West African sub-region. The 2026 IMF and World Bank Group Annual Meetings are expected to bring together finance ministers, central bank governors, and private sector executives from around the world. For Ghana, the successful negotiation of support agreements and the deepening of development partnerships during this event are seen as vital steps toward securing the resources necessary for its future economic agenda.

Ernest Brogya Genfi urges private sector to expand local investment
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Ernest Brogya Genfi urges private sector to expand local investment

Presidential Adviser Ernest Brogya Genfi has called on the private sector to take advantage of Ghana's improving macroeconomic indicators to expand their investments and create more jobs. Speaking at the Ghana Converge Summit 2026, Genfi noted that recent positive trends, including easing inflation and declining interest rates, have created a more favorable environment for business growth. He emphasized that the restoration of stability in exchange rates is currently rebuilding confidence among both domestic and international investors. Genfi highlighted the need for a stronger collaboration between the government and the private sector to ensure that these economic gains lead to sustainable development. He argued that the private sector must move beyond traditional business models to embrace more ambitious expansion plans that align with the government's economic reforms. By leveraging the current stability, he suggested that businesses could significantly scale their operations and contribute to a more resilient national economy. A key component of this growth strategy, according to the Presidential Adviser, is a structural shift away from raw-material dependence toward local processing and manufacturing. Genfi advocated for increased investment in industrialization, supported by government initiatives such as the Accelerated Export Agenda. This framework is designed to help businesses add value to Ghanaian products, making them more competitive in international markets and increasing the country's export earnings. In addition to industrialization, Genfi underscored the importance of innovation and the development of digital skills. He discussed various government programs aimed at equipping the workforce with the necessary tools to navigate a modern, technology-driven economy. He concluded by urging the business community to invest in human capital and digital transformation, noting that a highly skilled and innovative workforce is essential for Ghana to maintain its competitive edge on the global stage.

Officials from the Ghana Revenue Authority (GRA) accompanied by security personnel are seen during an enforcement exercise at the Jamila Home premises. A central official wears a white t-shirt with the slogan 'Pay Your Taxes, Let's Build Ghana', while media personnel record the event in front of the building which is partially covered in scaffolding.
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GRA warns taxpayers against assaulting officials after Accra incident

The Ghana Revenue Authority (GRA) has issued a stern warning to the public against the physical assault of its personnel during the discharge of their official duties. This directive follows a recent confrontation at Jamila Homes, an antique shop located in Accra, where security personnel allegedly attacked tax officials during a compliance exercise. The authority emphasized that any act of violence directed toward its staff in the field is viewed with the utmost seriousness by the administration and will not be tolerated. Assistant Commissioner Joseph Annan, representing the GRA, condemned the incident and stated that assaults on tax officers are effectively regarded as attacks on the Commissioner-General himself. He highlighted that the authority’s staff are carrying out a constitutional mandate to ensure tax compliance and revenue collection for national development. The GRA noted that such hostile behavior is not only illegal but also hampers the state's ability to mobilize necessary resources, warning that the law would be fully applied to anyone found obstructing or harming tax officials. The confrontation at Jamila Homes reportedly stemmed from a misunderstanding regarding the establishment's tax obligations. Hillarius McCash, the Economic Advisor for Jamila Homes, addressed the situation by stating that the company remains willing to cooperate with the GRA in its ongoing investigations. While acknowledging the incident, the company indicated a desire to resolve the tax-related discrepancies through proper administrative channels rather than further conflict. The GRA continues to urge all taxpayers to facilitate the work of revenue officers and to address any grievances or disputes through official complaint mechanisms provided by the authority. By maintaining a collaborative environment, both the government and the private sector can ensure that tax compliance exercises are conducted peacefully and transparently, avoiding legal repercussions for obstruction or assault.

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Ghana Brands Awards 2026 set for November 20 to honor business excellence

The Chartered Institute of Project Analysts and Consultants (CIPAC) has announced that the Ghana Brands Awards (GBA) 2026 will be held on November 20, 2026. This prestigious event is set to recognize and celebrate leading brands and visionary entrepreneurs who have demonstrated exceptional performance, innovation, and commitment to excellence across various sectors of the Ghanaian economy. By focusing on operational excellence and sustainable growth, the awards seek to elevate the standards of business practices and celebrate those who contribute significantly to national progress. The upcoming ceremony will feature 24 distinct award categories, ensuring a comprehensive recognition of the diverse industrial landscape in Ghana. Key sectors to be spotlighted include banking, healthcare, and entrepreneurship, providing a broad platform to acknowledge both established corporate giants and emerging business leaders. These categories are specifically designed to honor those who have not only achieved substantial commercial success but have also maintained high standards of service and innovation while fostering a positive impact on the economy. Organized by CIPAC, the Ghana Brands Awards also aims to encourage a culture of healthy competition among local and international entities. The organizers believe that by publicly honoring those who achieve significant milestones, they can inspire other businesses to adopt best practices and improve their overall efficiency and service delivery. Furthermore, the event serves as a vital networking platform, allowing industry leaders to connect, share insights, and discuss strategies for overcoming market challenges and driving long-term success. As the corporate community looks forward to the gala on November 20, 2026, the awards underscore the importance of brand integrity and resilience in a dynamic economic environment. The ceremony is intended to be more than just a presentation of accolades; it is a reflection of the hard work and dedication required to build and sustain a successful brand. By celebrating these achievements, CIPAC continues to support the growth of the private sector and the overall economic development of Ghana.

Bank of Ghana develops directive to regulate artificial intelligence in finance
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Bank of Ghana develops directive to regulate artificial intelligence in finance

The Bank of Ghana (BoG) has commenced the development of a regulatory directive aimed at overseeing the application of artificial intelligence (AI) within the country's financial sector. Speaking at the 43rd Annual General Meeting of the Ghana Association of Banks on October 10, Governor Dr. Johnson Pandit Asiama explained that the initiative is designed to foster technological innovation while establishing a robust framework for risk management. The move comes as part of broader efforts to adapt regulatory frameworks to the ongoing digital transformation of financial services. Governor Asiama highlighted that while AI presents significant opportunities to enhance efficiency in credit assessment, fraud detection, and customer service, its adoption must be tempered with caution. He pointed out that the integration of AI into banking operations introduces specific vulnerabilities, most notably regarding data quality, cybersecurity threats, and consumer protection. The proposed directive intends to address these concerns by ensuring that financial institutions maintain high standards of operational integrity as they adopt new technologies. Dr. Asiama underscored the importance of "responsible experimentation," advocating for a governance structure that spans the entire lifecycle of AI applications. He noted that the central bank is actively collaborating with industry stakeholders, including the Ghana Association of Banks, to strengthen cybersecurity protocols and improve the overall resilience of the financial ecosystem. This collaborative approach is intended to provide clear guidelines for banks as they navigate the complexities of automated decision-making and data processing. As the financial services landscape continues to evolve, the BoG is urging bank executives to treat cybersecurity and operational resilience as fundamental components of their core business strategies rather than isolated technical issues. The Governor emphasized that building resilient business models is essential for maintaining stability in the sector amid rapid digitalization. The forthcoming directive is expected to provide the necessary regulatory clarity to support a safe, transparent, and innovative financial environment in Ghana.

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Bank of Ghana sets July 2027 deadline for credit risk management directive

The Bank of Ghana (BoG) has issued a new directive requiring all Regulated Financial Institutions (RFIs) to implement enhanced credit risk management systems by July 1, 2027. This regulatory framework is designed to bolster the resilience of banks, finance houses, and other financial entities against potential systemic shocks. By setting a clear implementation timeline, the central bank aims to ensure that all institutions develop risk management protocols that are strictly aligned with their specific risk profiles and capital strengths. Under the new directive, the Board of Directors of each financial institution will be held directly responsible for the oversight of credit risk. Senior management teams are mandated to implement approved strategies and policies, ensuring that credit-granting criteria are sound and that rigorous due diligence is performed on all borrowers. This structured approach to governance is intended to create a culture of accountability at the highest levels of Ghana’s financial sector. A significant portion of the directive focuses on the risks associated with cross-border lending, investments, and foreign currency exposures. The BoG has instructed RFIs to establish robust policies to identify and manage country and transfer risks. These measures are specifically aimed at protecting local institutions from defaults that could arise due to volatile macroeconomic or political conditions in foreign jurisdictions, which have historically posed challenges to domestic financial stability. The introduction of these guidelines follows extensive analysis of global financial crises and previous instabilities within the Ghanaian banking sector that led to a major financial clean-up. By enforcing stricter credit risk assessments and management practices, the Bank of Ghana seeks to prevent the recurrence of past failures and ensure the long-term sustainability of the nation's financial architecture.

Cassiel Ato Forson pledges New Economy will tackle youth unemployment
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Cassiel Ato Forson pledges New Economy will tackle youth unemployment

Finance Minister Dr. Cassiel Ato Forson has announced that the government’s New Economy initiative will focus on removing the structural barriers that hinder job creation for young people and small businesses. Speaking during an engagement at the University for Development Studies (UDS), Dr. Forson emphasized the urgent need to confront the high human cost of unemployment. He stated that the current disconnect between academic education and employment is unacceptable and must be addressed to restore hope to the nation's youth. The Minister detailed how the initiative aims to support various sectors, specifically targeting small businesses and agriculture. He identified high credit costs as a major obstacle for entrepreneurs and noted that many farmers continue to struggle due to a lack of reliable markets for their produce. According to Dr. Forson, the New Economy framework is designed to ensure that productive efforts translate into real opportunities. He called for actionable steps to support local talent and create a more inclusive environment for both job seekers and business owners. In his address, Dr. Forson argued that chronic unemployment should not be the norm in a serious nation. He urged for a system where academic success leads directly to sustainable livelihoods, rather than the current cycle of joblessness. By aligning education with the practical needs of the job market and lowering the barriers for entry into business, the government intends to build a more resilient economic foundation that prioritizes the welfare and productivity of its citizens.

BoG to review banks’ cybersecurity compliance amid growing concerns about digital financial services fraud
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Bank of Ghana initiates thematic reviews of bank cybersecurity compliance

The Bank of Ghana (BoG) has announced plans to conduct thematic reviews across the banking sector to assess compliance with its revised Cyber and Information Security Directive. Governor Dr. Johnson Pandit Asiama disclosed the upcoming regulatory action, emphasizing that the central bank is intensifying its oversight to counter the growing threat of digital fraud and cybercrime. The announcement was made during the 43rd Annual General Meeting of the Ghana Association of Banks (GAB) held in Accra. The move comes as financial institutions increasingly transition to digital platforms, a shift that has expanded the attack surface for cyber threats. Governor Asiama urged financial institutions to elevate cybersecurity from a technical IT concern to a core business risk. By integrating cybersecurity into their primary risk-management frameworks, banks are expected to better anticipate and mitigate vulnerabilities that could compromise customer funds or systemic stability. The thematic reviews are designed to evaluate how effectively banks have implemented the updated security protocols mandated by the central bank. These assessments aim to bolster the overall resilience of the financial sector, ensuring that institutions remain robust against evolving digital tactics. During the same event, the Ghana Association of Banks also marked a milestone with the launch of the sixth edition of the GH Bankers’ Voice magazine, which provides industry insights and professional perspectives. This regulatory push highlights the Bank of Ghana's commitment to maintaining public confidence in the digital financial ecosystem. As Ghana's banking sector continues to innovate with mobile and online services, the BoG’s proactive reviews serve as a critical safeguard. Moving forward, banks will be expected to demonstrate continuous improvement in their security posture to align with both national directives and international best practices.