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.

Ghana Transport Sector Update: Road Fare Hikes in Oda, DVLA Digital Reforms, and AWA Fleet Expansion
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Ghana Transport Sector Update: Road Fare Hikes in Oda, DVLA Digital Reforms, and AWA Fleet Expansion

Ghana's transportation landscape is undergoing significant shifts as commercial drivers in the Eastern Region implement arbitrary fare hikes, while the aviation sector and regulatory authorities move toward modernization. In Akyem Oda, commuters are facing increased costs and service disruptions as local drivers bypass national directives to raise prices. Simultaneously, Africa World Airlines (AWA) is expanding its capacity with new aircraft, even as its leadership highlights the persistent economic hurdles that keep domestic air travel expensive for many Ghanaians. The situation in Akyem Oda highlights the growing tension between transport operators and the public. Commercial drivers, particularly those on the Oda–Accra route, have increased fares from GH¢70 to GH¢75 without official authorization from the National GPRTU Secretariat. Samuel Nana Kwasi Addo, a local GPRTU representative, attributed the hike to the rising costs of fuel and vehicle maintenance. This move led to a temporary withdrawal of services by taxi drivers, forcing many residents to walk long distances. Despite the impact on commuters, union leadership remains divided, with some local chairmen declining to comment on the unauthorized adjustments. In a bid to enhance transparency and efficiency, the Driver and Vehicle Licensing Authority (DVLA) has announced two major policy shifts aimed at modernizing its operations. CEO Julius Neequaye Kotey confirmed that the Authority will discontinue the issuance of handwritten international driving permits, transitioning to a fully system-generated and printed format. Furthermore, the DVLA is set to implement a video monitoring system for Private Vehicle Testing Stations (PVTS). This initiative requires visual evidence of vehicle inspections before roadworthiness certificates are issued, a move designed to curb fraud and ensure that vehicles on Ghanaian roads meet safety standards. In the aviation sector, Africa World Airlines has welcomed its first E190 aircraft, a move aimed at boosting regional connectivity across the continent. AWA founder Togbe Afede XIV credited the government's recent import duty exemptions for domestic airlines as a critical catalyst for this expansion. However, he also provided a candid assessment of why domestic airfares remain high. According to Togbe Afede XIV, the cost of flying within Ghana is inflated by heavy foreign exchange exposure, customs duties, relatively low passenger volumes, and the restricted operating hours at various domestic airports, which limit the efficiency of airline operations. These developments reflect a transport sector at a crossroads, balancing the need for infrastructure and fleet modernization against the immediate economic pressures on operators and consumers. While digital reforms by the DVLA and tax relief for airlines suggest a move toward a more structured and supportive business environment, the arbitrary fare increases in the road transport sector underscore the volatility of the local economy. Moving forward, the success of these industrial and regulatory changes will depend on consistent enforcement and the government's ability to stabilize the underlying costs that continue to drive prices upward for both road and air travelers.

Dr Benjamin Dzoboku and Lexis Bill
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Republic Bank MD and Business Experts Call for Discipline and Engagement as Pillars of National and Corporate Success

Dr. Benjamin Dzoboku, the Managing Director of Republic Bank (Ghana) PLC, has asserted that Ghana's developmental challenges are not rooted in a scarcity of resources, but rather in a pervasive lack of discipline regarding their management. In a series of insightful reflections, Dr. Dzoboku argued that a disciplined society could achieve a significant national turnaround almost overnight. He emphasized that without order and responsibility, even the most abundant resources are vulnerable to financial fraud and mismanagement, which ultimately undermines the country's progress and institutional success. Drawing from his unconventional journey from a childhood herding cattle to the helm of a major financial institution, Dr. Dzoboku highlighted how early lessons in order and observation shaped his leadership philosophy. He recounted how his experience as a 'cowboy' taught him to understand behaviors and establish clear responsibilities, principles he now applies to corporate leadership. Although he initially aspired to be a transport driver, a passion for accounting discovered during his education redirected his path, leading to a career defined by implementing vital structural changes and maintaining a rigorous standard of accountability within the banking sector. Complementing this focus on macro-level discipline, business management expert Ernest De-Graft Egyir has identified employee engagement as a critical leadership responsibility for organizational success. According to Egyir, leadership plays a foundational role in shaping the employee experience; therefore, CEOs must foster environments where staff feel valued and clearly understand the organization's purpose. He suggests that the most effective leaders are those who actively seek feedback, recommending that executives ask their teams, 'What is one thing leadership could do differently to help you perform at your best?' Ultimately, these perspectives converge on the idea that leadership is the primary driver of both national and corporate transformation. While Dr. Dzoboku champions discipline and resource management as the keys to unlocking Ghana’s potential, Egyir underscores that such discipline must be paired with high levels of employee engagement to boost productivity, innovation, and retention. By bridging the gap between individual accountability and organizational commitment, Ghanaian leaders can create a more resilient and prosperous economic landscape that is better equipped to handle future challenges.

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Bank of Ghana Reports 73.4% Surge in Secured Credit to GH¢31.5 Billion for Q2 2026

The Bank of Ghana’s Second Quarter 2026 Brief on the Collateral Registry has revealed a significant expansion in the country's lending landscape, with the total value of secured credit reaching GH¢31.5 billion. This figure represents a substantial 73.4% year-on-year increase from the GH¢18.2 billion recorded in the second quarter of 2025. This growth in credit value was also evident on a quarterly basis, with a 57.5% rise from the first quarter of 2026, signaling a robust appetite for collateralized lending within the Ghanaian financial sector. Commercial banks remained the primary drivers of this activity, accounting for GH¢19.9 billion or 63.1% of the total secured credit advanced. Within the banking sector, foreign-controlled institutions maintained their market dominance, contributing GH¢14.1 billion to the total—a 19.3% increase over the previous year. However, indigenous banks showed the most aggressive growth, with their registered credit surging by 112.4% to reach GH¢5.7 billion. Other lenders, including non-bank financial institutions, contributed a further GH¢8.3 billion, representing 26.3% of the total secured credit market. In a notable divergence, while the total value of credit rose, the actual volume of security interest registrations saw a sharp decline. Registrations dropped by 32.2%, falling from 135,721 in Q2 2025 to 92,033 in Q2 2026. This downward trend was largely attributed to a 42.4% reduction in registrations by Savings and Loans Institutions. The contrast between falling registration numbers and rising credit values suggests a shift toward higher-value loan facilities, primarily facilitated by the banking sector rather than smaller-scale microfinance or savings institutions. Despite the drop in registration volumes, there is evidence of deepening institutional professionalism regarding credit risk. Search activity on the Collateral Registry Application System (CRAS) increased by 13.9% year-on-year and 8.7% compared to the first quarter of 2026. This uptick in searches, which rose to 19,518 for the quarter, indicates that lenders are increasingly utilizing the registry for due diligence to verify existing charges on assets before granting new credit. Savings and Loans Institutions were the most frequent users of the search function, underscoring a heightened focus on risk mitigation and credit quality within the industry.

Godwin Kudzo Tameklo — Chief Executive of NPA
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NPA CEO Godwin Tameklo Outlines Plans to Extend Fuel Price Interventions as Government Spends GH¢1 Billion

The Chief Executive Officer of the National Petroleum Authority (NPA), Godwin Kudzo Tameklo, has announced that the Ghanaian government is exploring new strategies to protect consumers from the volatility of international petroleum prices. Speaking on Joy News on September 17, 2026, Mr. Tameklo revealed that the government has already committed more than GH¢1 billion toward existing price mitigation measures. These interventions have been critical in preventing a significant spike in diesel costs, which could have otherwise soared past GH¢28 per litre. Currently, the support helps maintain prices below the GH¢20 mark, providing much-needed relief to motorists and businesses alike. A central component of the current relief effort is a GH¢2-per-litre intervention specifically for diesel. However, with this program set to expire at the end of September 2026, the NPA is actively evaluating the feasibility of not only extending this support but potentially expanding it to include petrol. Mr. Tameklo noted that the Authority has submitted various scenarios and technical evaluations to the Minister of Energy, Dr. John Abdulai Jinapor. These proposals take into account the complex interplay of international market trends, domestic tax structures, and the stability of the exchange rate, all of which continue to exert pressure on pump prices. Looking ahead, the government aims to move toward more sustainable, permanent solutions rather than temporary subsidies. While the Energy Ministry reviews the NPA's current recommendations, broader fiscal policies are expected to be unveiled soon. Mr. Tameklo indicated that Finance Minister Dr. Cassiel Ato Forson is likely to outline comprehensive, long-term measures to cushion fuel consumers during the upcoming national budget presentation in November 2026. This move signals the Mahama administration's commitment to maintaining economic stability and protecting the purchasing power of Ghanaians amidst global energy uncertainties.

The image shows the exterior wall of the Bank of Ghana, featuring the official seal and the institution's name in bold, black block letters. The gold seal includes a central black star and the text 'EST. 1957'. Small green plants and white stones are neatly landscaped at the base of the light-grey textured wall.
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Bank of Ghana mops up GH¢21.41 billion in liquidity ahead of 132nd MPC meeting

The Bank of Ghana has significantly tightened liquidity in the financial system, absorbing GH¢21.41 billion through two short-term tenders within a single week. This strategic move, executed just days before the 132nd Monetary Policy Committee (MPC) meetings scheduled for September 22-24, aims to manage excess funds in the banking sector and influence short-term money-market conditions. The central bank utilized 14-day Bank of Ghana Bills to facilitate the mop-up, signaling a proactive stance on monetary policy transmission as it prepares to announce its next policy decision. The liquidity absorption was conducted in two distinct phases: an initial tender on Monday which accepted GH¢13.71 billion, followed by a second tender on Wednesday that withdrew an additional GH¢7.7 billion. Both operations carried an interest rate of 10.5%. Analysts suggest these measures are designed to temporarily sterilize liquidity and manage bank funding costs, ensuring that inflationary pressures are contained by reducing the volume of disposable cash within the banking system before the MPC convenes to review the nation's economic health. Parallel to these central bank operations, the corporate credit market is showing signs of renewed vigor. Petrosol Platinum Energy PLC recently made a successful debut on the Ghana Fixed Income Market, issuing two sets of corporate bonds as part of a newly established GH¢200 million note programme. The issuance included five-year senior unsecured notes with a 17% fixed coupon rate and four-year bonds at 16.50%. Both instruments were oversubscribed, indicating strong investor appetite for corporate debt despite the central bank's efforts to tighten overall liquidity. Looking toward long-term economic stability, Databank Research has revised its currency forecast, projecting the Ghana Cedi to reach GH¢12.20 against the US dollar by the end of 2026. This updated outlook reflects a 65-basis point improvement over previous estimates, driven by anticipated gains in gold mobilization, sustained repatriation of export proceeds, and enhanced reserve accumulation. These factors, combined with the Bank of Ghana's current liquidity management strategies, suggest a concerted effort by both regulators and market players to stabilize the macroeconomic environment. As the MPC prepares to meet, the combination of aggressive liquidity management and a maturing corporate bond market provides a complex backdrop for policy makers. The upcoming decision on the Monetary Policy Rate will be closely watched by investors to see if the central bank will maintain its current trajectory or adjust its stance in response to the growing demand for credit and the optimistic long-term forecasts for the national currency.

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Ghana Industrial Summit: Government Pursues $10 Billion Energy Investment and Regional Power Pact with Nigeria

At the recent Ghana Industrial Summit and Exhibition, the government of Ghana unveiled a dual strategy to solidify the nation's position as a regional energy powerhouse while addressing the rising costs of industrial production. Deputy Minister of Energy and Green Transition, Richard Gyan-Mensah, announced that Ghana is actively pursuing a strategic partnership with Nigeria to enhance electricity cooperation. Under a proposed arrangement, Nigeria would supply natural gas to Ghana, which would then be converted into electricity and exported back to Nigeria. This initiative is part of a broader $10 billion investment plan for electricity infrastructure and generation capacity projected through 2040, aimed at meeting growing domestic and regional demand. While Ghana already exports electricity to Togo, Benin, and Burkina Faso, the Deputy Minister assured stakeholders that these regional trades would not compromise domestic energy security. However, the move toward regional expansion comes amid mounting pressure from the Association of Ghana Industries (AGI), which has raised concerns over rising electricity tariffs. Industry leaders at the summit emphasized that the high cost of power is currently undermining the competitiveness of Ghanaian manufacturers, prompting calls for a review of electricity pricing structures to support industrial growth. Parallel to the discussions on conventional power, the AGI officially launched the Renewable Energy Industry Platform (REIP) to address the fragmented nature of the green energy sector. Kwame Jantuah, Chairman of the Oil and Gas Sector at AGI, emphasized the need for a unified voice to influence policy and accelerate the adoption of renewable energy in Ghana. Jantuah noted that the current contribution of renewables to the national power mix remains low, hindered primarily by the high costs of solar equipment and storage batteries. The REIP is intended to serve as a collaborative hub for companies to engage the government on favorable policies, particularly for residential solar adoption. To ensure the long-term success of these energy initiatives, representatives from the Energy Commission and the Ghana Standards Authority stressed the importance of quality control and regulatory adherence. As Ghana seeks to transition toward a more diversified energy portfolio, officials and industry experts agree that maintaining high standards for renewable technologies is essential for building market confidence. The synthesis of massive infrastructure investment, regional trade agreements, and a unified push for renewable energy marks a critical juncture in Ghana's strategy to become the indispensable energy hub of West Africa.

Paul Elikem Dovi (2nd from left),Regional Consultant of IGNITE Social Enterprise, with other speakers at the conference
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Ghanaian Youth Empowerment Initiatives Drive Sustainable Entrepreneurship and Ethical Business Practices

A series of high-profile initiatives aimed at tackling youth unemployment and fostering ethical business practices have taken center stage across Ghana, led by the 2026 UPSA 1000 & Ghana Entrepreneurship Conference and the Scripture Union’s Young Entrepreneurs Programme (YEP). These programs, supported by industry leaders and government agencies, seek to equip the next generation of business owners with the tools necessary to build sustainable, value-driven enterprises. The focus has shifted from mere profit-seeking to community problem-solving, with a strong emphasis on integrity as a cornerstone for national development. At the UPSA 1000 conference, Paul Elikem Dovi, a consultant for IGNITE Social Enterprise, urged young entrepreneurs to prioritize value creation and national interest. IGNITE announced plans to leverage its digital social e-commerce platform to promote locally manufactured Ghanaian products—particularly in the agriculture and manufacturing sectors—to international markets. By democratizing business ownership and providing AI learning resources, the initiative aims to enhance the global competitiveness of Ghanaian brands while encouraging the youth to start low-cost, sustainable businesses that address immediate community needs. Simultaneously, Scripture Union Ghana concluded the third cohort of its Young Entrepreneurs Programme (YEP) at the Presbyterian Worship Centre in Accra. The session, which drew participants from Ghana, Rwanda, Nigeria, and South Africa, blended practical business training with biblical values to cultivate a culture of integrity. Speakers, including Jacob Adongo Atule from the National Youth Authority, emphasized that ethical entrepreneurship is vital in environments where corruption often hampers growth. The program equipped youth with essential skills in market research, leadership, and resilience, urging them to solve societal challenges through innovation. Complementing these educational efforts, a major philanthropic partnership between businessman Alhaji Seidu Agongo and the National Entrepreneurship & Innovation Programme (NEIP) was launched to provide tangible resources for grassroots development. The initiative will distribute 10,000 free sewing machines nationwide to empower youth and women interested in the tailoring and fashion industry. NEIP CEO Eric Adjei highlighted that such vocational support is critical for bridging the unemployment gap and fostering self-reliance among those ready to start small-scale businesses. Together, these efforts represent a multi-faceted approach to economic empowerment in Ghana. By combining international market access, ethical training, and direct resource provision, stakeholders are working to ensure that the burgeoning entrepreneurial spirit of Ghanaian youth translates into long-term national stability. As these young leaders move from training to implementation, the collective goal remains clear: transforming the economic landscape through businesses that are as socially responsible as they are commercially viable.

EPA shuts down operations of Empire Cement at Weija in Accra in relation to pollution breaches
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Ghana’s Business Landscape Marked by COCOBOD Financial Recovery and EPA Enforcement Against Empire Cement

Ghana's business sector is currently navigating a period of significant transition, marked by aggressive environmental enforcement, institutional restructuring, and landmark legal precedents. Highlighting this shift, the Environmental Protection Agency (EPA) has officially shut down the operations of Empire Cement Ghana Limited at its Weija facility in Accra. The closure follows a series of pollution breaches and environmental permit violations that resulted in sustained emissions of pollutants, threatening public health. The EPA has mandated that the company install proper pollution control systems and engage with the surrounding community before it can be considered for reopening, underscoring a tightening grip on industrial compliance. Simultaneously, the Ghana Cocoa Board (COCOBOD) is reporting a notable improvement in its financial health following years of liquidity struggles. Despite facing total liabilities of approximately GH¢35.8 billion, the organization has managed to move toward a positive equity position through rigorous fiscal measures. CEO Dr. Randy Abbey credited this recovery to strategic expenditure management, which notably included salary reductions for executives and senior staff. This internal austerity has been pivotal in stabilizing the Board’s finances, though it remains a work in progress as the organization seeks to sustain its positive trajectory and manage its remaining GH¢32.9 billion debt. In the media and technology sectors, institutional evolution is taking center stage as the Ghana Broadcasting Corporation (GBC) successfully modernizes its public image. Transitioning from a traditional broadcaster to a dynamic digital presence, GBC’s digital team has garnered national acclaim for engaging Gen Z audiences through witty social media campaigns. Meanwhile, on the international stage, a significant legal ruling against Uber has sent ripples through the global gig economy. A California judge ordered Uber to pay $40 million to the family of Emily Normandin-Parker, who was killed after being forced out of a vehicle by her driver. The court’s decision to hold Uber liable, despite the company’s "independent contractor" defense, serves as a stark reminder of the growing expectations for corporate accountability regarding passenger safety. These developments collectively signal an era of heightened accountability and modernization for both state-owned and private enterprises. Whether through the EPA’s uncompromising environmental standards, COCOBOD’s financial discipline, or the legal consequences of corporate negligence, the focus is increasingly on sustainable and responsible business practices. As Ghana continues to advance its digital and industrial infrastructure under the current administration, the integration of public health, financial transparency, and safety standards will remain crucial for long-term economic stability and growth.

IFC backs new Accra hotel with nearly 1,000 jobs expected
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Ghana's Business Sector Expands Through Major Hospitality Investments, International Partnerships, and Digital Infrastructure Reforms

Ghana’s business landscape is witnessing a significant surge in international and diaspora investment, anchored by major new projects in hospitality and infrastructure. The International Finance Corporation (IFC) has announced long-term financing for PLP Properties Limited to develop a 170-room Hampton by Hilton hotel near the Accra International Airport. This flagship project, Hilton’s first in Ghana, is expected to create 990 direct and indirect jobs while targeting EDGE Advanced certification for environmental sustainability. Simultaneously, the Ghana Tourism Federation (GHATOF) is intensifying efforts to convert leisure interest into capital investment, specifically targeting the African American diaspora for opportunities in real estate, agriculture, and hospitality. This push for foreign direct investment is further bolstered by the Volta Regional House of Chiefs, which recently signed four strategic agreements with Chinese firms to enhance aquaculture, digital transformation, and infrastructure development in the Volta Basin. To support this growing commercial activity, industry leaders are focusing on the modernization of financial and information infrastructure. Stanbic Bank and Graphic Business are convening regulators and business leaders to address bottlenecks in cross-border payments, advocating for the Pan-African Payment and Settlement System (PAPSS) to reduce transaction costs and delays that currently hinder international trade. On the local level, the emergence of digital directories, such as the Accra Street Directory and Modern Ghana’s Business Directory, is transforming how consumers and researchers interact with the market. These platforms aim to eliminate information fragmentation, providing the structured data necessary for business discoverability in an increasingly digital economy. Despite these advancements in investment and infrastructure, a complex macroeconomic picture persists for the average Ghanaian. While national inflation has reportedly cooled to 5.0% as of August 2026, the cost of living in Greater Accra remains a challenge. Sharp increases in essential commodities—most notably a 158.3% rise in the price of fresh tomatoes—highlight a disconnect between falling statistical inflation and household affordability. Experts suggest that while the influx of capital and the adoption of modern payment systems are critical for competitiveness, long-term economic stability will require income growth that matches the rising cost structure of utilities and food services. Ultimately, Ghana’s economic trajectory is being shaped by a dual approach of attracting high-value foreign projects while refining the internal digital and financial systems that facilitate trade. The success of initiatives like the Hampton by Hilton development and the Volta-China partnerships depends heavily on creating a seamless environment for money movement and data access. As the country positions itself as a hub for diaspora investment and regional trade, the focus remains on ensuring that macroeconomic improvements translate into tangible affordability for the local population and a more predictable environment for the burgeoning private sector.

IFC provides US$39.5m for solar project at Dawa Industrial Zone
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President Mahama Commissions Zonda Tec Assembly Plant Amidst Major Industrial and Energy Investments

President John Mahama has officially inaugurated Zonda Tec Ghana Limited's newest vehicle assembly plant, marking a significant milestone for the nation's automotive industry. During the commissioning ceremony, which included Minister for Trade Elizabeth Ofosu-Adjare and Zonda Tec CEO Madam Yang Yang, it was revealed that the facility is set to become the first assembler of Chery vehicles in Africa. This development is expected to drive local job creation and enhance technical skills development, reinforcing Ghana's position as a burgeoning industrial hub in the sub-region. Complementing this industrial expansion, the International Finance Corporation (IFC) has announced a $39.5 million financing package for LMI Holdings to support the first phase of a massive solar project at the Dawa Industrial Zone. This funding represents the second tranche of a $100 million facility dedicated to the 'Solar for Industries' program, which aims to establish 1,000 megawatts of renewable energy capacity by 2032. The current 100-megawatt peak solar photovoltaic project is projected to create 250 direct jobs during construction and significantly lower energy costs for industrial tenants, thereby boosting national competitiveness. To ensure the long-term sustainability of the automotive and manufacturing sectors, experts are calling for enhanced domestic engineering support. Dr. Andrew Nyamful, Head of the Mechanical Workshop at the Ghana Atomic Energy Commission, has urged the government to complete and operationalize the Commission’s abandoned foundry and CNC machine tooling centre. Dr. Nyamful emphasized that such a facility is crucial for manufacturing vehicle engines and spare parts locally, reducing the reliance on expensive imports and providing a solid foundation for the factories currently being commissioned. On the logistics front, the Greater Accra Passenger Transport Executive (GAPTE) is working to improve the efficiency of urban movement for the workforce through a new contra-flow system for Aayalolo buses. In collaboration with the Motor Traffic and Transport Department (MTTD) of the Ghana Police Service, GAPTE is conducting feasibility studies on the Kinbu-Adenta corridor. Managing Director Daouda Awudu reported that early trials of the system—which allows buses to utilize unused lanes against the standard flow of traffic—reduced journey times from nearly two hours to just 45 minutes. These combined efforts in manufacturing, renewable energy, and transport infrastructure signal a comprehensive approach to modernizing Ghana's industrial economy.

REBRAND Masterclass '26 to Address Business Succession and Leadership Resilience in Accra
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REBRAND Masterclass '26 to Address Business Succession and Leadership Resilience in Accra

Ghanaian business leaders, founders, and SME owners are increasingly being called upon to redefine their roles by balancing immediate operational engagement with long-term legacy planning. This dual focus forms the backdrop for the upcoming REBRAND Masterclass '26: Brand Legacy Edition, scheduled for October 15, 2026, at the Charleston Hotel in Accra. The event, themed "Build Beyond You," aims to challenge the traditional mindset of family-owned enterprises by emphasizing that inheritance is fundamentally different from professional succession. Central to this leadership evolution is the concept of employee engagement as a primary CEO responsibility. According to insights from Ernest De-Graft Egyir of the Chief Executives Network Ghana, engaged employees are the bedrock of organizational success. When leaders foster an environment where staff understand the company's purpose and feel valued, they see significant gains in productivity, innovation, and retention. A key strategy recommended for modern executives is the practice of actively seeking feedback by asking employees exactly how leadership can better support their performance, thereby aligning individual effort with collective organizational goals. The REBRAND Masterclass will expand on these principles by addressing the critical need for robust governance structures that survive their founders. Using the cautionary tale of the Gucci family—who lost control of their iconic brand due to poor leadership transitions—the program will illustrate how failing to distinguish between asset transfer and leadership capacity can lead to corporate decline. The masterclass is designed to help participants establish the systems and visions necessary to ensure their businesses thrive in their absence, rather than merely passing on titles to heirs. As the Ghanaian business landscape matures, the shift toward professionalized leadership and structured continuity is becoming vital for economic stability. With only 25 executive seats available for the upcoming Accra session, the event underscores a growing urgency for SMEs to move beyond personality-driven management. By integrating daily employee engagement with rigorous succession planning, Ghanaian founders can transform their companies from temporary ventures into enduring legacies that contribute to the nation's long-term commercial growth.

Participants in the dialogue
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Digital Transformation Drives Revenue Surges for Ghana Revenue Authority and Standards Authority

Ghana’s fiscal landscape is witnessing a significant boost as key state institutions report substantial revenue growth driven by digital innovation and administrative reforms. The Ghana Revenue Authority (GRA) has recorded a remarkable $100 million increase in monthly customs revenue since April 2026, following the integration of Artificial Intelligence (AI) into customs valuation and classification systems. Monthly collections have risen from approximately $350 million to over $450 million. This growth, achieved without the introduction of new taxes, was a central theme at the eighth West African Tax Administrators Forum (WATAF) policy dialogue in Accra, where officials highlighted the role of technology in closing regional financing gaps. Commissioner General of the GRA, Anthony Kwasi Sarpong, emphasized that the future of revenue mobilization lies in modernization. Speaking to West African tax administrators, Sarpong advocated for the aggressive adoption of e-filing, e-payment, and data analytics to enhance compliance and reduce tax evasion. The GRA is currently focused on widening the tax base through a modified taxation scheme targeting the informal sector and the automation of VAT collection. These efforts are aimed at addressing the estimated $100 billion annual financing gap hindering sustainable development across West Africa. Parallel to the GRA’s success, the Ghana Standards Authority (GSA) reported an 18% revenue increase for the 2025 financial year, generating over GH¢228 million. Director-General Professor George Agyei attributed this performance to disciplined resource management and a significant scale-up in regulatory activities. During the year, the GSA exceeded its targets by verifying 242,764 weights and instruments, calibrating 26,091 industrial tools, and testing 28,375 product samples. This increased activity also led to a five-fold growth in the surplus transferred to the national accumulated fund, strengthening the country’s industrial quality infrastructure. Despite these financial successes, challenges remain in meeting technical benchmarks. Professor Agyei noted that only 40% of the GSA’s targeted 426 standards were fully developed during the period, prompting a call for greater stakeholder engagement. GSA Chairman Alhaji Hudu Mogtari and other officials stressed that for revenue growth to be meaningful, standards must reflect real-world applications that protect consumers and facilitate trade. Moving forward, both the GRA and GSA intend to deepen their digital integration and stakeholder partnerships to ensure that Ghana’s economic growth remains both sustainable and globally competitive.