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.

Sai Bioenergy Ghana Unveils 1,500MW Solar Project in Savannah Region Amid Global Push for Sustainability Execution
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Sai Bioenergy Ghana Unveils 1,500MW Solar Project in Savannah Region Amid Global Push for Sustainability Execution

Sai Bioenergy Ghana Private Limited, in collaboration with the 24-Hour Economy and Accelerated Export Development Secretariat, has announced plans for a landmark 1,500-megawatt (MW) solar photovoltaic power plant in Buipe, Savannah Region. The ambitious project is set to include a 250-megawatt-hour battery energy storage system and a biogas/liquefied bio-methane plant, alongside agricultural plantations covering over 35,000 hectares. Development is scheduled to occur in three phases, beginning with the construction of the battery storage system. An Environmental Impact Assessment (EIA) scoping notice has already been issued to solicit public feedback on the project's environmental and social implications. While such large-scale projects are vital for Ghana's energy transition, new research from the Project Management Institute (PMI) and Green Project Management (GPM) reveals a significant challenge in delivering measurable sustainability outcomes. The study, which surveyed nearly 1,600 professionals, highlights a "confidence gap": while 85% of sustainability executives feel certain about their goals, only 43% of project management leaders share that optimism. In Africa, where energy and infrastructure projects are critical for growth, the report indicates that only 41% of organizations have fully integrated sustainability into their project delivery. This lack of integration poses a risk to accessing the international investment flows necessary for the continent's development. India's recent energy milestones provide a potential roadmap for overcoming these execution hurdles. By December 2025, India successfully achieved a power capacity where 51.93% is derived from non-fossil fuel sources, surpassing its international climate commitments. Currently ranked fourth globally in renewable energy capacity, India is now focusing on its National Green Hydrogen Mission, which targets the production of five million metric tonnes of green hydrogen annually by 2030. This strategy integrates renewable growth with industrial competitiveness, offering a blueprint for other nations in the Global South seeking to balance industrialization with decarbonization. To bridge the execution gap identified in the PMI research, a new Certified Sustainable Project Professional (CSPP)™ program has been introduced to equip managers with the tools to embed sustainability into every stage of the project lifecycle. For projects like the Sai Bioenergy initiative in the Savannah Region, success will depend on moving beyond high-level ambition to operational reality. As global demands for sustainability transparency grow, the capacity to deliver on these environmental commitments will increasingly define organizational and national economic success within the burgeoning low-carbon economy.

The delegation from the German and Swiss companies with Frederik Landshoft (5th from right), German Ambassador to Ghana, during the visit
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Fidelity Bank, GRA, and Foreign Investors Partner to Modernize Ghana’s Trade and Pharmaceutical Infrastructure

Ghana’s business landscape is undergoing a significant transformation driven by calls for modernized trade systems and enhanced international cooperation. Fidelity Bank Ghana, at the recent Breaking Barriers to Trade conference, underscored the urgency of harmonizing customs processes and improving data quality to unlock the nation’s economic potential. This push for efficiency coincides with a new strategic partnership between the Ghana Revenue Authority (GRA) and the United Kingdom’s His Majesty Revenue and Customs (HMRC). The Memorandum of Understanding (MoU) signed between the two bodies aims to strengthen customs administration, boost revenue mobilization, and facilitate legitimate cross-border trade, promising a more secure and compliant environment for Ghanaian businesses. International interest in Ghana’s industrial growth continues to rise, particularly within the pharmaceutical sector. Under the PharmaVax Ghana Programme—a EUR33 million initiative co-financed by the European Union and Germany—a delegation of three German companies (Kyoobe Tech, Pruess, and Groninger) and Switzerland’s SKAN AG recently visited the country. Their objective is to bridge the gap between local manufacturers and European technology, fostering technical partnerships that reduce reliance on imported medicines. Similarly, the Canada Ghana Chamber of Commerce is preparing for its CEOs' Connect 2026 on August 20, which will focus on capital strategies and cross-border expansion, signaling a long-term commitment to positioning Ghanaian businesses on the global stage. On the domestic front, the Western Regional Minister, Joseph Nelson, is advocating for a more cohesive approach to investment management. He has called for improved collaboration between the Western Regional Coordinating Council (WRCC) and national bodies like the Ghana Export Promotion Authority (GEPA) and the Ghana Investment Promotion Centre (GIPC). Nelson pointed out that inadequate information-sharing currently hinders the region’s ability to support registered companies and resolve investor disputes. By aligning these institutions, the government aims to better leverage the Western Region’s rich natural resources to drive job creation and export growth. A central component of these economic reforms is the empowerment of women and youth-led enterprises. Fidelity Bank has launched the Fidelity Young Entrepreneurs Fund to provide financial and regulatory assistance to businesses that often face structural barriers rather than a lack of ambition. To further streamline operations, the banking and trade sectors are anticipating the 2026 rollout of the Publican AI System, which is expected to revolutionize customs operations and improve revenue efficiency. Together, these public and private initiatives represent a multi-faceted strategy to modernize Ghana's trade infrastructure, encourage foreign direct investment, and ensure that growth is inclusive for all entrepreneurs.

Ghana’s Economy Records 5.1% Growth Driven by Services Sector as Cedi Shows Renewed Stability
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Ghana’s Economy Records 5.1% Growth Driven by Services Sector as Cedi Shows Renewed Stability

Ghana’s economy experienced a 5.1% year-on-year growth in May 2026, according to the latest Monthly Indicator of Economic Growth (MIEG) from the Ghana Statistical Service (GSS). While this indicates a continued expansion of economic activity, it represents a momentum slowdown from the 6.6% growth recorded in May 2025. The expansion was primarily spearheaded by a robust services sector, which grew by 7.2%, bolstered significantly by the information and communication sub-sectors. The industrial sector also contributed positively with a 4.2% increase, largely fueled by mining and quarrying activities, though the overall pace of growth across the economy remains a subject of close monitoring by policymakers. Despite the positive headline figures, the agricultural sector has emerged as a point of concern, recording a sharp slowdown to 3.6% growth compared to the 9.8% achieved in the same period last year. This significant dip has raised alarms regarding food security and rural livelihoods, as agriculture remains a cornerstone of the Ghanaian economy. Meanwhile, in the labor market, Youth Development Minister George Opare-Addo highlighted a general decline in the national unemployment rate. He attributed this trend to the effectiveness of government interventions under President John Mahama's administration, though he acknowledged that targeted programs remain necessary to address the specific challenges faced by the growing youth population. In the financial and corporate sectors, the Ghanaian Cedi has shown signs of resilience, appreciating against the US dollar to trade at an average selling rate of GHS 12.30 at forex bureaus as of August 14, 2026. On the Bank of Ghana interbank market, the currency was valued even more strongly at GHS 10.99 for sales. On the corporate front, MTN Ghana has solidified its role as a major economic pillar, contributing approximately GH¢10.5 billion in taxes and regulatory fees in 2025—accounting for nearly 6% of the Ghana Revenue Authority’s total collections. Additionally, the Evangelical Presbyterian Church, Ghana (EPCG) reported significant financial progress, clearing over GH¢11 million of its debt to bring its outstanding balance down to GH¢3.17 million. Looking ahead, the convergence of steady service-led growth and a stabilizing currency provides a cautiously optimistic outlook for the remainder of 2026. However, the disparity in sectoral performance—particularly the struggle in agriculture versus the dominance of telecommunications and mining—underscores the need for balanced economic policies. As the government continues to implement its development agenda, the focus is expected to shift toward maximizing infrastructure investment and ensuring that the benefits of digital and industrial expansion translate into broader productivity gains and food price stability for all Ghanaians.

Godswill Amihere, Area Billing and Revenue Officer of NEDCo interacting with residents during the exercise
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Otumfuo Osei Tutu II Urges Boankra Port Funding Amid Coastal Transport Feasibility Study and Bank Demolition Controversy

Asantehene Otumfuo Osei Tutu II has issued a strong call for the completion of the Boankra Integrated Inland Port, warning that further delays risk significant financial losses and missed opportunities for the nation. During a recent meeting with the Governing Board of the Ghana Shippers’ Authority, the Asantehene emphasized the project's critical role in reducing road congestion and improving inland cargo logistics. He urged the Ghana Ports and Harbours Authority (GPHA) to revisit prior funding agreements, suggesting that financial support could be converted into equity shares to ensure the project’s viability. This push for inland infrastructure comes as the government engages Vision Consult and KPMG to conduct a six-month feasibility study for a new coastal water transport route linking Keta in the Volta Region to Axim in the Western Region, aimed at diversifying Ghana's transport network. Technological and operational advancements are also taking center stage in Ghana's maritime and utility sectors. The Ghana Maritime Authority (GMA) is actively promoting the implementation of a Maritime Single Window to enhance electronic processing and information exchange among stakeholders, a move supported by Deputy Director General Mubarick Masawudu to align with international standards. These efforts are yielding results, as the Importers and Exporters Association of Ghana recently praised the GPHA for successfully resolving cargo congestion at the Tema Port. Meanwhile, in the energy sector, the Northern Electricity Distribution Company (NEDCo) has demonstrated a commitment to service improvement by resolving over 800 billing complaints and installing 400 new meters in Tamale within a single week through dedicated customer clinics. Despite these developmental strides, significant friction has emerged between municipal authorities and the business community. In Aboabo, the Asokore Mampong Municipal Assembly demolished a branch of the Sekyedumase Community Bank to make way for a new government-led 24-Hour Market. The bank's management reported losses amounting to millions of Ghana Cedis, claiming they were denied the opportunity to salvage physical assets and cash before the demolition proceeded. While the bank's CEO assured customers that digital data remains secure due to robust backup systems, the incident has raised legal concerns, especially as the bank alleges that an interlocutory injunction was disregarded by the Assembly. This pattern of municipal-led demolitions has also affected state-aligned developers. TDC Ghana Ltd expressed concern after the Tema Metropolitan Assembly (TMA) halted and demolished preparatory works for a housing project in Community 1, Site 3. The TMA reportedly issued a stop-work order demanding documentation just days before the intervention. These conflicting interests between local assembly redevelopment goals and established business operations highlight the ongoing challenges in Ghana's urban planning and commercial landscape. As the government of President John Mahama continues to focus on large-scale infrastructure like the Boankra and Keta-Axim projects, the resolution of these localized disputes will be essential for maintaining a stable environment for investment and growth.

US Embassy processed 38,000 visa applications in first half of 2026
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Ghana’s Digital Economy Strengthens Through Regulatory Enforcement and Local Tech Innovation

Ghana’s business landscape is undergoing a significant digital transformation, marked by a dual focus on stricter regulatory compliance and local technological expansion. The Cyber Security Authority (CSA) has signaled a zero-tolerance approach to unlicensed operations, recently imposing a combined fine of GH¢360,000 on the Office of the Registrar of Companies (ORC) and Purpleline Solutions Limited. The ORC was fined GH¢240,000 for engaging an unlicensed service provider, while Purpleline incurred a GH¢120,000 penalty for operating without the necessary Tier 1 licensing. This enforcement action underscores the government’s commitment to securing the country’s digital infrastructure as more essential services move online. In tandem with these regulatory measures, financial institutions and media stakeholders are intensifying efforts to combat the rising threat of digital fraud. Graphic Business and Stanbic Bank recently submitted a comprehensive cybersecurity paper to the CSA, following a high-level breakfast meeting in Accra. The report advocates for sustained public education and multi-sectoral collaboration to stay ahead of the evolving tactics used by fraudsters. Benjamin Avornyotse, the CSA’s acting Director of Communications, emphasized that such partnerships are vital for shaping public awareness and ensuring that the growth in digital transactions does not come at the cost of consumer security. Amidst this push for security, local entrepreneurs are successfully challenging global tech giants by leveraging deep-rooted market knowledge. Ghanaian tech founder Nana Osei Afrifa has seen significant traction with VaMijo, a homegrown ride-hailing and courier platform designed to compete with international services like Uber and Bolt. Since its launch, VaMijo has completed over 31,000 rides and attracted nearly 11,000 customers. Afrifa, who previously developed Ghana’s national digital address system, intends to scale the platform into Central and Southern African markets, including the DRC and Angola, focusing on sustainable practices and tailored solutions that global competitors often overlook. Furthermore, state and international agencies are adopting digital-first strategies to handle unprecedented service demands. The National Labour Commission (NLC) has launched a suite of digital platforms, including a WhatsApp-based complaint system, to streamline communication between employers and employees and foster industrial harmony. Simultaneously, the U.S. Embassy in Accra reported a massive surge in activity, processing 38,000 non-immigrant visa applications in the first half of 2026 alone—a 60% increase from the previous year. Driven largely by demand for the FIFA World Cup, the embassy has enhanced its consular staffing to reduce wait times, reflecting the robust appetite for international mobility within the Ghanaian business and sporting communities.

Ghana Standards Authority Sets October Deadline for Used Car Ban Amid Growing Shift to Affordable New Models
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Ghana Standards Authority Sets October Deadline for Used Car Ban Amid Growing Shift to Affordable New Models

The Ghana Standards Authority (GSA) has announced a significant shift in national vehicle standards, prohibiting the importation of used vehicles older than 15 years, as well as flood-damaged or burnt vehicles, effective October 1, 2026. This new regulation replaces the previous 10-year limit and aims to ensure the safety and quality of vehicles entering the Ghanaian market. Under the revised framework, all imported used vehicles must undergo inspection by a GSA-approved body in their country of origin and obtain a Certificate of Conformity before shipment. While vehicles already in transit before the October deadline are exempt, the GSA emphasized that pre-shipment compliance is now mandatory to avoid rejection at Ghanaian ports. Coinciding with these regulatory changes, the Channel One TV–Zonda Tec Auto Sale and Expo in Accra has highlighted a growing appetite for affordable, brand-new alternatives to traditional used imports. The event, which was extended due to overwhelming patronage, showcased the increasing competitiveness of Chinese-manufactured vehicles in the local market. Zonda Tec CEO, Yang Yang, noted that the turnout exceeded expectations, leading to an extension of promotional discounts to accommodate a surge in interest from buyers looking for value and reliability in a tightening regulatory environment. The Expo drew significant attention from public figures, including Deputy Minister for Foreign Affairs, James Gyakye Quayson, and gospel artiste Perez Musik. Minister Quayson endorsed the shift toward affordable brand-new vehicles, citing the durability and economic value of modern models compared to the long-term maintenance costs associated with older used cars. Similarly, Perez Musik shared that his firsthand experience at the showroom—particularly with the TANK 700 model—altered his previously skeptical view of Chinese automotive quality, praising the vehicles for their design, comfort, and safety features. These developments signal a transformative period for Ghana’s automotive sector under the administration of President John Mahama. As the GSA tightens enforcement to remove hazardous and aging vehicles from the roads, the market focus is shifting toward affordability and the need for improved road infrastructure to support a newer fleet. Industry experts suggest that the combination of stricter import standards and the availability of competitively priced new vehicles could modernize the national transport landscape, though importers must now navigate the increased administrative requirements of the pre-shipment certification process.

AGI Reports Resilient Business Confidence as 24-Hour Economy Implementation Gains Momentum under Mahama Administration
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AGI Reports Resilient Business Confidence as 24-Hour Economy Implementation Gains Momentum under Mahama Administration

Business confidence in Ghana remains remarkably resilient in 2026, with the Association of Ghana Industries (AGI) reporting an index of 108.7. This represents a slight dip from the 109.5 recorded in the first quarter, yet the overall sentiment among local firms remains optimistic. According to the AGI’s latest survey, 42% of businesses reported improved performance, while 72% anticipate growth in the near future. This resilience is observed despite persistent challenges such as high electricity costs—affecting 19% of businesses—limited access to credit, and rising inflation, which reached 4.1% in the second quarter due to external factors. A significant factor in the long-term outlook is the government’s 24-Hour Economy policy, a flagship initiative of the John Mahama administration. AGI CEO Seth Twum Akwaboah has expressed strong support for the policy, labeling it a potential game changer for Ghana's industrial sector if implemented effectively. However, the AGI has cautioned that the policy must move beyond slogans to focus on concrete interventions and thorough consultations with industry stakeholders. Akwaboah emphasized that the transition to a 24-hour cycle will not happen overnight and requires a clear blueprint similar to the One District, One Factory initiative to define specific programs and activities that stimulate activity outside traditional hours. In addition to policy discussions, the AGI is actively negotiating with the Ministry of Finance regarding a critical tax dispute involving Accra Brewery Limited (ABL). The Association maintains that this issue is an industry-wide concern, particularly for manufacturers who rely on locally sourced materials. The AGI is advocating for the preservation of the sliding scale tax regime, which incentivizes local production and strengthens supply chains. CEO Akwaboah clarified that while the government seeks to maximize revenue, it is essential to protect local manufacturers from unintended consequences that could stifle production capacity and lead to increased competition from imports. Looking ahead, the AGI remains committed to collaborating with the 24-Hour Economy Secretariat and the Ministry of Finance to ensure a stable macroeconomic environment. The association highlights that addressing unfair trade practices and reducing the cost of raw materials will be vital for sustaining growth in the second half of the year. By balancing revenue-generating tax policies with industrial incentives and the expansion of operational hours, the business community believes Ghana can bolster its local production capacity and achieve a more robust economic transformation.

Dr Johnson Pandit Asiama, Governor, BoG
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BoG Governor Asiama Intensifies Digital Lending Crackdown While Urging SME Credit Expansion

The Bank of Ghana (BoG) has launched a rigorous enforcement regime against unlicensed digital lenders while simultaneously calling on commercial banks to capitalize on a stabilizing economy to boost lending to small and medium enterprises (SMEs). Governor Dr. Johnson Pandit Asiama announced that the central bank will begin publishing a weekly list of unauthorized digital credit providers to protect consumers from illegal operators. This crackdown follows the implementation of a comprehensive regulatory framework in July 2026, which mandates a minimum capital requirement of GH"2 million and strict operational standards for all digital credit services. The BoG has warned the public to verify the licensing status of all lenders and urged commercial banks to perform thorough due diligence before forming any partnerships with digital platforms. Beyond enforcement, the Governor is pushing for a strategic shift in credit culture to support national economic growth. Highlighting a stabilizing cedi and declining inflation rates, Dr. Asiama noted that macroeconomic improvements are creating significant room for stronger credit growth. He specifically urged financial institutions to design flexible, tailored loan products for the agricultural sector and SMEs, which have traditionally faced barriers due to perceived risks. The Governor emphasized that lenders must better understand the sectors they serve, suggesting that loan repayment schedules should be aligned with the specific cash flows of agricultural cycles to foster productive investment and job creation. Despite these directives, structural challenges persist for smaller enterprises within the regulatory environment. A recent study by the Institute for Liberty and Policy Innovation (ILAPI) revealed that Micro, Small, and Medium Enterprises (MSMEs) continue to face high compliance costs and lengthy registration processes. The survey found that over 40% of businesses experienced delays of more than a month to obtain certificates, often leading to a reliance on unauthorized intermediaries or "goro boys." In response, the BoG and policy advocates are calling for streamlined digital registration processes and enhanced customer engagement to ensure that regulatory burdens do not stifle the growth potential of the private sector. Amidst these systemic shifts, several financial institutions are evolving to meet new governance and sustainability standards. Republic Bank (Ghana) PLC has strengthened its leadership by appointing Mrs. Elsie Enninful-Adu as a Non-Executive Director. With over 30 years of experience in investment management and corporate finance, her expertise is expected to bolster the bank's strategic growth and governance. Simultaneously, Access Bank Ghana has been certified as a carbon credit broker by the Carbon Market Office. This move allows the bank to facilitate transactions in Ghana’s regulated carbon market, positioning the institution as a leader in climate finance and supporting the public sector's broader decarbonization commitments.

Prospero Kojo Cyriaano-Olympio, Volta Regional Manager of NPA
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National Petroleum Authority and COMAC Project Mixed Fuel Price Adjustments as Global Tensions Drive Crude Volatility

Consumers in Ghana are set to experience mixed pricing for petroleum products beginning August 16, 2026, as the National Petroleum Authority (NPA) and the Chamber of Oil Marketing Companies (COMAC) announce adjustments for the second pricing window of the month. While petrol and Liquefied Petroleum Gas (LPG) prices are expected to decline, diesel prices are projected to see a marginal increase. The NPA has officially lowered the price floors for petrol and LPG, with petrol dropping by approximately 4.2% to GH"13.92 per litre and LPG falling to GH"10.98 per kilogram. However, diesel remains on a different trajectory, with its price floor set at GH"15.19 per litre, leading to a projected retail price of GH"17.73. According to COMAC, retail petrol prices are expected to settle around GH"15.82 per litre, a decrease of up to 2.90%. LPG users will also see relief as prices fall by GH"0.93 to approximately GH"16.21 per kilogram. These adjustments are heavily influenced by a 2.02% rise in average international crude oil prices, which have climbed to approximately US$90.41 per barrel. Despite the global surge, the relative stability and recent strengthening of the Ghana cedi, which stood at GH"10.98 to the US dollar as of mid-August, have helped mitigate even steeper price hikes at the pumps. On the global stage, oil prices have steadied following threats from the United States regarding an indefinite naval blockade of Iran. This geopolitical tension in the Strait of Hormuz has heightened supply concerns, keeping Brent crude futures near $87.08. While OPEC and the IEA have projected lower demand growth, these supply risks continue to exert upward pressure on local fuel costs. To provide temporary relief, the government has announced it will absorb GH"2 of the price of diesel for August 2026, a move intended to support businesses and transport operators facing high operational costs. Parallel to these economic shifts, the NPA has issued a stern warning regarding public safety and criminal activity at fuel tanker accident scenes. Prospero Kojo Cyriaano-Olympio, the NPA's Volta Regional Manager, emphasized that individuals caught siphoning fuel from overturned tankers will face prosecution. The 'Stay Back Stay Safe' campaign aims to prevent the fatalities and injuries that have historically occurred during such incidents. As the new pricing window takes effect, industry players have been reminded to adhere to the NPA's pricing floors while consumers are urged to prioritize safety over illegal fuel collection.

Alhaji Ali Ibrahim, Founder and CEO of Rabotec Group
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Ghana Strengthens Gold Sector Control Through 30% Output Purchase Agreement and GoldBod Financial Independence

The Government of Ghana has taken a decisive step toward economic stabilization by signing a Memorandum of Understanding (MoU) with the Ghana Chamber of Mines to purchase 30 per cent of gold output from large-scale mining companies. This agreement, signed on August 13, 2026, is a central pillar of the Ghana Accelerated National Reserve Accumulation Programme (GANRAP). Minister of Finance Dr. Cassiel Ato Forson highlighted that the Parliamentary-approved move enables the Bank of Ghana and the Ghana Gold Board (GoldBod) to purchase and process gold locally, ensuring a more resilient national reserve and a stronger foundation for the country's currency. In a parallel strategic shift, the Ghana Gold Board (GoldBod) has officially ended its role as a gold-buying agent for the Bank of Ghana (BoG), transitioning to a self-funded independent financing model. CEO Sammy Gyamfi announced that since March 2026, the organization has ceased receiving central bank funds, instead raising capital directly from commercial banks and gold offtakers. This evolution is intended to enhance GoldBod’s operational autonomy, reduce the financial costs associated with intermediation, and improve the organization’s contribution to foreign exchange mobilization, which is vital for the stability of the cedi. While the government focuses on large-scale mines, the Institute for Fiscal Studies (IFS) is urging a shift in focus toward the booming small-scale mining sector. IFS Executive Director Dr. Said Boakye noted that despite the small-scale sector contributing a staggering $10.80 billion to gold exports in 2025, government revenue from these operations remains minimal. The IFS has called for a comprehensive strategy to mobilize mineral royalties from these smaller producers, criticizing the 2026 Mid-Year Budget Review for failing to align the sector’s high productivity with fiscal revenue generation. On the private sector front, indigenous firms are seeking to expand their footprint within this evolving landscape. Rabotec Group, a prominent Ghanaian mining contractor, has announced plans to transition into a mine owner within the next five years, backed by a West African project portfolio valued at up to $1.8 billion. CEO Alhaji Ali Ibrahim emphasized the need for Ghana to move beyond mineral supply to exporting mining technology and expertise. However, he cautioned that industry growth remains vulnerable to operational challenges, including site security issues and volatile exchange rates, which the government’s new gold reserve policies aim to mitigate.

COCOBOD Bans Cocoa Credit Purchases as Minister Ofosu-Adjare Resolves Nigeria-Ghana Trade Dispute
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COCOBOD Bans Cocoa Credit Purchases as Minister Ofosu-Adjare Resolves Nigeria-Ghana Trade Dispute

The Ghanaian agricultural landscape is undergoing a significant transformation as the government and sector regulators introduce stringent measures to ensure liquidity and operational efficiency. Central to these reforms is a new directive from the Ghana Cocoa Board (COCOBOD) prohibiting Licensed Buying Companies (LBCs) from purchasing cocoa beans on credit. COCOBOD CEO, Dr. Randy Abbey, has warned that repeat violations will lead to the revocation of operating licenses, a move designed to guarantee prompt payments to farmers and restore discipline within the supply chain. These changes are part of the broader Ghana Cocoa Board Bill 2026, which aims to modernize the industry and secure at least 70% of gross FOB value for farmers by the 2026/27 crop year. Beyond the cocoa sector, the Tree Crops Development Authority (TCDA) has launched a nationwide initiative to distribute climate-smart inputs and machinery to approximately 1.6 million households. TCDA CEO Dr. Andy Okrah announced an ambitious target of developing 100,000 new hectares of oil palm by 2026 to boost self-sufficiency and reduce reliance on imports. The program supports six strategic crops—cashew, coconut, oil palm, rubber, mango, and shea—providing farmers with essential tools such as tricycles and protective gear. This push is complemented by the Ministry of Food and Agriculture’s distribution of over 37,000 metric tonnes of fertiliser under the Feed Ghana Programme, spearheaded by Minister Eric Opoku to mitigate the financial burdens caused by floods and fluctuating commodity prices. On the international front, Trade, Agribusiness and Industry Minister Elizabeth Ofosu-Adjare has successfully resolved a critical trade dispute with Nigeria that had previously halted onion exports. The Minister's intervention led to the release of several Ghanaian trucks and has been praised by the Accra Onion Sellers and Importers Cooperative Society and the Cross Border Women Traders Association. Minister Ofosu-Adjare emphasized that maintaining stable cross-border trade is essential for economic stability within the ECOWAS region, warning that prolonged disruptions create uncertainty for farmers, transport operators, and consumers alike. This diplomatic success is viewed as a vital step in the administration’s strategy to foster regional agricultural integration. Supporting these structural changes is a robust focus on agribusiness entrepreneurship and technological innovation. Absa Bank Ghana, in partnership with Impact Food Hub, recently concluded the Agribusiness Launchpad and Accelerator Programme 2.0. Managing Director Edward Nartey Botchway revealed that the bank has disbursed over GH"700 million to the sector over the past five years, supporting more than 5,000 businesses. Deputy Minister John Dumelo urged participants to prioritize value addition to make Ghanaian products globally competitive. Simultaneously, research institutions like the CSIR-Water Research Institute are pioneering climate-smart solutions, such as converting fish wastewater into nutrient-rich crop inputs, providing a sustainable model for farmers in water-stressed regions.

Abla Dzifa Gomashie (inset), Minister of Tourism, Culture and Creative Arts, speaking at the Accountability Series
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Ghana’s Business Landscape Strengthens: Tourism Revenue Reaches $4.34bn as SSNIT Assets Surge to GHS36bn

Ghana’s economic and business landscape is demonstrating significant momentum, driven by record-breaking tourism receipts and the robust growth of national pension assets. Minister of Tourism, Culture and Creative Arts, Abla Dzifa Gomashie, recently announced that the tourism sector generated approximately $4.34 billion in revenue during 2025. This fiscal success coincides with a strong performance by the Social Security and National Insurance Trust (SSNIT), which has seen its total assets grow to 36 billion cedis. These developments highlight a period of strategic growth and institutional stability as the country continues to expand its investment horizons under the current administration. The tourism sector's impressive revenue was fueled by a rise in international arrivals, which reached over 1.3 million visitors in 2025, up from 1.28 million the previous year. Minister Gomashie attributed this growth to a successful digital transformation push and the introduction of innovative heritage products. Key milestones included the UNESCO recognition of Highlife music and the launch of the 'Black Star Experience' program, which aims to promote Ghana as a year-round destination. Additionally, domestic tourism saw a 7% increase, supported by government initiatives to improve infrastructure and provide significant funding for film development and heritage conservation projects. In the financial sector, SSNIT is refining its investment strategy to ensure the long-term sustainability of the national pension scheme. Following a 10% return on investments in 2025, Director-General Kwesi Afreh Biney indicated that the Trust is prioritizing financial instruments over real estate, citing better yields from financial markets. This strategic shift aims to maximize value for contributors while maintaining a diversified portfolio. Joshua Ansah, Secretary-General of the Trades Union Congress (TUC), acknowledged SSNIT’s strong performance but called for even more aggressive investment strategies to further enhance the health of the pension scheme and ensure transparency for all stakeholders. Complementing these macro-economic gains, the private sector continues to show excellence in innovation and operational efficiency. At the recent Greater Accra Business Merit Awards held at the LaPalm Royal Beach Hotel, the SIM Group of Companies was honored as the 'Most Outstanding in Integrated Business Solutions.' Organized by the Business Executive Group, the award recognizes SIM Group’s commitment to providing client-focused, value-driven services. This accolade highlights the critical role of Ghanaian corporations in driving productivity and adopting modern business models that support the nation's broader economic objectives. Collectively, these milestones paint a picture of a diversifying economy that is successfully leveraging its cultural assets while strengthening its financial foundations. The synergy between high-performing state institutions like SSNIT and an innovative private sector, supported by a booming tourism industry, provides a solid framework for continued growth. As Ghana moves forward, the focus remains on sustaining this trajectory through infrastructure development, strategic partnerships, and a continued emphasis on digital and cultural innovation to secure a prosperous future for all citizens.