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.

Mahama Promotes 24-Hour Economy Vision to Kwahu Entrepreneurs Amid Rising Utility Service Efficiency
business|

Mahama Promotes 24-Hour Economy Vision to Kwahu Entrepreneurs Amid Rising Utility Service Efficiency

Former President John Dramani Mahama has intensified his engagement with the Ghanaian business community, urging the Kwahu Business Forum Advocacy Association to lead a shift toward manufacturing and agro-processing. Central to his economic agenda is the proposed 24-Hour Economy Initiative and the Accelerated Export Development Programme, which aim to boost productivity and job creation. Mahama emphasized that public-private partnerships are essential for national growth, acknowledging the significant entrepreneurial spirit of the Kwahu region while pledging infrastructure improvements and tax reforms to alleviate the burden on indigenous firms. He further advocated for the establishment of a permanent convention center to host future business forums, highlighting the government's commitment to an open-door policy for investors. However, the realization of a 24-hour economy requires more than just business participation; it demands a wholesale transformation of state institutions. Policy analysts argue that such an ambitious vision cannot be sustained by an 8-hour government. For the initiative to succeed, there must be a coordinated effort across security, transportation, and digital services, ensuring that government offices are as responsive as the businesses they serve. Drawing parallels to successful models in Singapore and the UAE, experts emphasize that institutional efficiency and a change in societal mindset regarding productivity are prerequisites for the transition to a round-the-clock economic cycle. A critical pillar for this industrial growth is the reliability of utility services, which has shown signs of improved responsiveness according to the latest data from the Public Utilities Regulatory Commission (PURC). In the first half of 2026, the PURC reported impressive resolution rates for consumer complaints: 99.31% in the Northern Region and 97% across the Western and Western North regions. While the Electricity Company of Ghana (ECG) and the Northern Electricity Distribution Company (NEDCo) were the primary subjects of these complaints—mostly concerning quality of service—the high resolution rates suggest a growing commitment to consumer protection. The commission also facilitated over GH"563,000 in electricity infrastructure improvements in the north, reflecting a tangible investment in the country's energy foundation. Beyond Ghana's borders, the regional energy landscape is also shifting toward modernization, presenting a broader context for infrastructure development. In São Tomé and Príncipe, the government has partnered with TECMON Energy to overhaul its national electricity sector. Following a Memorandum of Understanding, a delegation led by Dr. Rajesh Ramchandra Kashyap proposed a phased program focusing on network reinforcement, advanced metering, and the integration of renewable energy. This regional move toward diversified and resilient electricity systems underscores a shared West African priority of securing the stable energy supplies necessary to drive modern industrial and commercial ambitions.

DBG Launches Landmark Women’s Lending Programme as Partners Unveil Digital Solutions to Bolster Ghanaian MSMEs
business|

DBG Launches Landmark Women’s Lending Programme as Partners Unveil Digital Solutions to Bolster Ghanaian MSMEs

Development Bank Ghana (DBG) has officially launched a dedicated women’s lending programme designed to dismantle financial barriers for female-led enterprises, which represent a significant yet underserved portion of the national economy. Announced during the bank’s fifth-anniversary celebrations, the initiative seeks to move beyond traditional social interventions by treating credit access for women as a core strategy for national economic growth. DBG Chief Executive Officer, Professor Randolph Nsor-Ambala, emphasized that the programme aims to address perennial obstacles such as stringent collateral requirements and a lack of technical assistance. Since its inception, DBG has already disbursed over GH¢2.5 billion to approximately 1,000 businesses, with more than half of these beneficiaries being women-led enterprises, a move projected to support the creation of some 41,000 jobs. Complementing these financial injections, international partners including the UNCDF, UNDP, and UNCTAD recently showcased five innovative digital financial solutions in Accra. These tools are specifically tailored to enhance the digital economy for women and youth-led Micro, Small, and Medium Enterprises (MSMEs), which constitute roughly 92% of all businesses in Ghana. By focusing on tailored digital lending products and rural savings platforms, these initiatives aim to provide affordable capital to sectors that have historically been excluded from the formal banking system. This multi-agency effort highlights a growing shift toward leveraging technology to foster financial inclusivity and sustainable business expansion across the country. In tandem with financial and digital support, the Ghana Trade Fair Company Limited has intensified efforts to equip SMEs with the practical skills necessary for global competitiveness. At a recent stakeholder forum held in collaboration with Republic Bank (Ghana) PLC, CEO Squadron Leader Naa Amerley Bamba (Rtd.) reaffirmed the company’s commitment to providing entrepreneurs with knowledge in branding, financial literacy, and market access. The forum, which included participation from students at the University of Ghana and Accra Technical University, underscores the importance of building entrepreneurial capacity and fostering strategic partnerships to ensure that local success stories can effectively scale into international markets. Despite these advancements, there is a growing call from the grassroots for more comprehensive policy reforms. Young residents and graduates in Tema have recently urged the government to implement stronger private sector support, emphasizing that sustainable job creation must be driven by business expansion rather than public sector recruitment alone. These advocates are calling for simplified tax policies, enhanced incentives for SMEs, and dedicated financial backing for youth-led start-ups to absorb the increasing number of graduates entering the labor market. They argue that while institutional lending is vital, a more favorable regulatory environment is essential to reduce the cost of doing business and stimulate long-term investment. Collectively, these developments represent a coordinated push to transform Ghana's economic landscape through the empowerment of MSMEs. By bridging the financing gap for women, deploying digital solutions for the youth, and providing vocational capacity building, stakeholders are laying the groundwork for a more resilient and inclusive economy. The success of these initiatives will likely depend on the continued collaboration between state financial institutions, international development partners, and the private sector to ensure that the growth of Ghanaian businesses translates into tangible wealth creation and broad-based employment.

COMAC CEO Warns of Financial Risks to Ghana’s Fuel Dealers Amid Rising Middle East Tensions
business|

COMAC CEO Warns of Financial Risks to Ghana’s Fuel Dealers Amid Rising Middle East Tensions

Ghana's downstream petroleum sector is facing significant operational strain as renewed geopolitical tensions between the United States and Iran create extreme volatility in global oil markets. Dr. Riverson Oppong, CEO of the Chamber of Oil Marketing Companies (COMAC), has warned that the unpredictable price swings are causing local fuel dealers to "bleed cash." While rising international oil prices are often manageable because costs can be passed to consumers, Dr. Oppong emphasized that sudden price drops pose a much greater financial threat. Because Oil Marketing Companies (OMCs) and Bulk Distribution Companies (BDCs) often purchase their stock at higher costs, a sharp decline in market rates before that stock is sold leaves them vulnerable to heavy losses, especially in a market that lacks effective hedging options. The instability in the Middle East, particularly concerns over the Strait of Hormuz—a vital shipping route for global oil—has complicated financial planning for Ghanaian businesses. According to reports from the International Energy Agency (IEA), the global oil market remains fragile, with demand projections showing a potential for the first annual decline since the 2020 pandemic by the year 2026. This long-term uncertainty is compounded by the immediate pressure on African economies, where high transport costs and local currency fluctuations are already threatening food security and broader economic stability. Despite the current volatility at the pumps, there are contrasting developments in Ghana’s energy landscape. Italian energy giant ENI has expressed renewed interest in developing new oil and gas blocks in the country, citing improved investor confidence and a more favorable business environment in the upstream sector. Meanwhile, Dr. Oppong has attempted to reassure the public regarding price transparency, noting that while geopolitical factors drive volatility, the industry is committed to reducing prices whenever international market trends and currency stability allow. However, the immediate outlook for Ghana's fuel market remains precarious as long as the crisis in the Middle East continues to influence global energy dynamics.

Bank of Ghana Confronts 48% Surge in Financial Fraud and Targets 10% NPL Ratio to Safeguard Economic Stability
business|

Bank of Ghana Confronts 48% Surge in Financial Fraud and Targets 10% NPL Ratio to Safeguard Economic Stability

The Bank of Ghana (BoG) is intensifying its regulatory oversight as the financial sector grapples with a significant surge in fraud and the complexities of rapid credit expansion. According to the BoG’s 2025 Fraud Report, total fraud cases in the country jumped by 48%, rising from 16,733 in 2024 to 24,778 in 2025. While traditional banking institutions and Specialised Deposit-taking Institutions (SDIs) saw a decline in fraud incidents, the Payment Service Providers (PSP) sector experienced a dramatic 54% spike in cases. This shift underscores a growing vulnerability in digital payment platforms, where the total value at risk reached GH"101 million. The report also highlighted internal integrity challenges, noting that 75 bank staff were dismissed during the period, prompting calls for more rigorous pre-employment background checks and analytical assessments of personnel. In tandem with fraud prevention, the central bank is taking proactive measures to manage the risks associated with falling interest rates. Average lending rates have dropped significantly from 20.58% in January to 16.33% in April 2026, a move intended to enhance access to finance for Small and Medium Enterprises (SMEs). However, this low-interest environment has sparked concerns regarding non-performing loans (NPLs), which stood at 18.7% in February 2026. Andrews Akoto, Head of Trading at Absa Bank Ghana, has commended the BoG for setting clear targets to reduce the NPL ratio to 10% by the end of 2026. Financial experts emphasize that while credit expansion is vital for growth, banks must maintain rigorous lending standards to prevent a surge in bad debt that could jeopardize systemic stability. Beyond institutional controls, the Bank of Ghana is advocating for better public practices regarding currency management and digital literacy. Governor Dr. Johnson Asiama recently urged traders and the general public to improve cash-handling practices to reduce the high costs associated with replacing damaged banknotes. During a national clean-up exercise, he noted that proper sanitation and careful handling of the cedi are essential to maintain currency integrity and public health. Simultaneously, stakeholders across the sector are calling for a united front involving regulators, the media, and financial institutions to educate the public on fraud risks. As digital transactions become more ubiquitous, officials like Mr. Bernard Otabil from the BoG stress that collective vigilance and continuous outreach are the only ways to safeguard public trust in Ghana's evolving financial landscape.

President Mahama Advocates Industrial Expansion for Kwahu Firms as COCOBOD Struggles with GH¢3.4bn Debt
business|

President Mahama Advocates Industrial Expansion for Kwahu Firms as COCOBOD Struggles with GH¢3.4bn Debt

President John Dramani Mahama has issued a strong call to indigenous entrepreneurs, particularly the Kwahu business community, to transition from commerce into manufacturing and agro-processing to drive Ghana's economic growth. During a series of engagements with the Kwahu Business Forum Advocacy Association, the President emphasized that the private sector must lead the nation’s industrialization efforts. He highlighted the government's commitment to creating an enabling environment through the 24-Hour Economy Initiative and the Accelerated Export Development Programme. To support these ambitions, infrastructure projects like the new Afram River bridge at Ekye Amanfrom are being fast-tracked to unlock the agricultural potential of the Afram Plains, specifically in cashew, rice, and palm oil production. However, these industrial aspirations face significant financial headwinds as the Ghana Cocoa Board (COCOBOD) continues to struggle with its debt obligations. COCOBOD missed its June target to clear over GH¢6 billion in arrears owed to cocoa farmers and Licensed Buying Companies (LBCs), leaving approximately GH¢3.4 billion still outstanding. Despite previous assurances from the Board's public affairs department that the debt would be largely resolved, the shortfall raises concerns about the liquidity of the cocoa sector and its impact on rural livelihoods. The President has acknowledged these challenges, promising tax reforms and energy logistics improvements to reduce the overall cost of doing business in the country. Simultaneously, regulatory bodies are tightening oversight to enhance professional standards across key industries. The Ghana Tourism Authority (GTA) has initiated stakeholder consultations on new mandatory licensing and registration for multi-purpose establishments, including banquet halls and event planners. This move is accompanied by the launch of the Ghana Tourism Information System (GTIS), a digital platform designed to streamline administration and improve transparency for investors. Meanwhile, in Kumasi, the Metropolitan Assembly (KMA) has ordered the temporary closure of shops and corporate offices in the Central Business District this Friday and Saturday for a national clean-up exercise, prioritizing community health and sanitation despite the brief cessation of commercial activity. On the corporate and personal finance front, the business community has been stirred by reports regarding the late Apostle Kwadwo Safo Kantanka’s estate. Allegations surrounding a leaked will suggest the industrialist bequeathed 50% of his company shares to his domestic staff as a gesture of gratitude. In the international finance and sports business arena, Manchester United is exploring a £2 billion stadium redevelopment project, while Lloyds Banking Group CEO Charlie Nunn has advised individuals to automate savings and build emergency funds to navigate global economic volatility. Together, these developments reflect a Ghanaian business landscape caught between aggressive industrial expansion and the urgent need for fiscal discipline and regulatory modernization.

Ghanaian Economy Navigates 4.7% Growth Amid Rising Lending Rates and Global Market Volatility
business|

Ghanaian Economy Navigates 4.7% Growth Amid Rising Lending Rates and Global Market Volatility

Ghana's economy achieved a 4.7% year-on-year growth in April 2026, according to the Ghana Statistical Service, sustained by strong performance in the services and mining sectors. While this marks a continued expansion, the momentum has softened compared to the 7.4% growth recorded in April 2025. The services sector remained the primary driver, contributing over 60% to the total expansion, led largely by the Information and Communication sub-sector. Industry followed with a 4.0% increase, bolstered by mining output, while agriculture showed a modest recovery of 1.7% following previous declines. This growth occurs as the Monthly Indicator of Economic Growth (MIEG) rose to 113.3, signaling a resilient upward trend despite emerging domestic and global headwinds. Domestic credit conditions are tightening as the Ghana Reference Rate (GRR) rose to 10.59% in July 2026, up from 10.02% in June. This increase, reported by the Ghana Association of Banks, is attributed to a hike in the 91-day Treasury bill rate and the Bank of Ghana’s decision to set a uniform Cash Reserve Ratio (CRR) of 20%. While intended to enhance liquidity management and curb inflation, the rise in the GRR serves as a benchmark for loan pricing and is expected to lead to higher lending rates for new borrowers. Furthermore, the Ghanaian Cedi has faced renewed pressure, depreciating to a retail selling rate of GHS 12.20 against the US Dollar by July 9, 2026, while the Bank of Ghana’s interbank rate stood at GHS 11.45. On the global stage, geopolitical tensions and inflationary pressures are creating a volatile environment for trade and energy. Oil prices recently surged by more than 1%, with Brent crude reaching $78.88 per barrel following U.S. military strikes on Iranian assets. These developments have heightened concerns regarding the security of the Strait of Hormuz, a vital passage for global energy supplies. In a positive turn for regional energy investment, ExxonMobil and its partners announced a $1 billion investment in Nigeria's Usan Infill Project. This move signifies ExxonMobil's return to active drilling in Nigeria for the first time since 2016 and is projected to increase oil production by 40,000 barrels per day. Broader economic indicators from major global markets suggest mixed outcomes for manufacturers and retailers. China's producer price index (PPI) jumped to a four-year high of 4.1%, driven by rising costs in mining and machinery, which is putting significant pressure on manufacturers who are unable to pass costs to consumers due to weak domestic demand. In the corporate sector, German fashion house Hugo Boss has formally rejected a —2 billion takeover bid from Britain’s Frasers Group, calling the offer —financially inadequate.— Simultaneously, U.S. regulators are preparing legal challenges to block a proposed $110 billion merger between Paramount and Warner Bros. Discovery, citing concerns over market competition and consumer choice. These converging trends—domestic growth coupled with rising borrowing costs and global supply chain risks—underscore a complex landscape for Ghanaian policymakers. While the 4.7% growth rate demonstrates economic resilience, the combination of a weakening Cedi and rising interest rates may necessitate further interventions to protect local industries. As global energy prices remain sensitive to conflict and China's manufacturing sector grapples with cost-push inflation, the Ghanaian economy will need to lean on its robust services and mining sectors to maintain stability through the latter half of the year.

Ignatius Godfred Dordoe (3rd from right), DCE of Shai-Osudoku, and officials from the assembly at the programme
business|

Ghana Intensifies Revenue Mobilization as GRA Targets Tax Defaulters and Government Expands Strategic Trade Ties with Germany and Egypt

The Ghana Revenue Authority (GRA) has significantly ramped up its enforcement actions to secure national revenue, most notably by sealing the administrative block of Electrochem Ghana Limited due to an outstanding tax debt of GH"8.6 million dating back to 2021. Led by Joseph A. Annang, Head of Enforcement, the GRA took this step as a last resort after multiple demand notices were ignored. While the company made an immediate good-faith payment of GH"200,000, it remains under a seven-day ultimatum to settle the balance or face a total operational shutdown. This action coincides with other aggressive revenue protection measures, including the confiscation of over 39,000 jerrycans of vegetable oil involved in a transit fraud scheme. The oil, falsely declared as transit cargo, will be donated to the National School Feeding Programme following the interdiction of four GRA officers involved in the irregularity. Complementing these national efforts, local government authorities and regulatory bodies are adopting digital tools and financial discipline to enhance development. The Shai-Osudoku District Assembly has launched a mechanised billing system, utilizing tablets and unique property account numbers to target GH"8 million in annual revenue while curbing fraud and leakages. Similarly, the Jasikan Municipal Assembly has demonstrated institutional excellence by ranking ninth nationally in the 2025 Public Financial Management (PFM) Compliance League Table. These advancements in governance are mirrored by the Public Utilities Regulatory Commission (PURC), which reported a 96% resolution rate for consumer complaints in the Bono East Region through the strategic use of WhatsApp and other social media platforms, facilitating over GH"90,000 in credit adjustments for customers. On the international front, Ghana is actively strengthening its bilateral ties to foster a more robust investment climate and industrial growth. The Ghanaian-German Economic Association (GGEA) recently hosted its "Meet the Government Series," focusing on strategic collaborations with the Ghana Investment Promotion Centre (GIPC) and the GRA to accelerate economic transformation. Dr. MacDonald Vasnani, CEO of GGEA, emphasized that initiatives like the now-codified 24-Hour Economy law provide critical partnership opportunities for German and Ghanaian businesses alike. Simultaneously, Minister for Trade and Industry Elizabeth Ofosu Adjare has proposed a Memorandum of Understanding (MoU) with Egypt to leverage the African Continental Free Trade Area (AfCFTA), focusing on textiles, pharmaceuticals, and technical training. These developments highlight a multifaceted approach to Ghana's economic stability, balancing rigorous tax compliance with the modernization of public services and the expansion of global trade networks. As the GRA moves from friendly engagement to strict enforcement, and local assemblies adopt technology to secure funding, the government is signaling a commitment to fiscal discipline. Moving forward, the success of these initiatives will depend on the sustained integration of digital systems and the continued transparency of public institutions in managing both domestic revenue and international partnerships for sustainable economic growth.

Participants at the event
business|

Ghana Scales Digital Economy with New 5G Bids, MSME Finance Solutions, and Expert Warnings Against 'Tax Traps'

Ghana is witnessing a significant acceleration in its digital transformation, characterized by new initiatives to support small businesses and a competitive race for high-speed connectivity. The Bank of Ghana (BoG) and various international partners, including the UNCDF and UNDP, are leading efforts to move the country beyond basic mobile money transfers toward a more sophisticated digital finance ecosystem. At a recent event in Accra, five innovative digital solutions were unveiled specifically designed to help women-led and youth-led micro, small, and medium enterprises (MSMEs) access affordable capital. Elhanan Owureku Asare, Head of Fintech and Innovation at the BoG, emphasized that mobile money transaction histories should now serve as gateways for informal workers to access credit and insurance, bridging the gap for the 92% of Ghanaian businesses that remain underserved by traditional banking. However, this digital expansion faces critical hurdles, most notably a rising 'trust crisis' and concerns over government policy. Professor Godfred Bokpin of the University of Ghana Business School has cautioned the government against viewing the digital finance sector primarily as a taxation tool, warning that 'tax traps' could deter users and stifle financial inclusion. Parallel to these policy concerns is the growing threat of digital fraud, which Bokpin describes as a major economic risk. Recent data reveals that fraud cases increased from 15,865 in 2023 to 16,733 in 2024, with the total value at risk reaching approximately GH"99 million. The upcoming Digital Economy Forum is expected to address these challenges, focusing on the need for enhanced cybersecurity and financial literacy to prevent a return to cash-based transactions. On the infrastructure front, the race for 5G connectivity has intensified as the government prepares to auction licenses previously held exclusively by Next Gen Infraco (NGIC). Major players MTN Ghana and Telecel Group are readying bids after the government revoked NGIC’s exclusive rights due to missed rollout targets. Communications Minister Sam George has highlighted the importance of a fair auction to ensure market competitiveness, particularly as the state aims for 70% 5G population coverage by March 2027. This infrastructure boost is seen as essential for supporting the burgeoning digital services market and maintaining Ghana’s regional lead in telecommunications. Beyond finance and infrastructure, digital innovation is also reshaping specific sectors like real estate. GhanaWeb has officially launched a new digital marketplace designed to streamline property searches and eliminate common frustrations for renters and buyers, such as non-refundable 'viewing fees' and fragmented listings. By providing a platform for verified property listings and credible professionals, the portal aims to bring transparency to a historically opaque industry. Collectively, these developments in finance, connectivity, and sector-specific marketplaces signal a pivotal moment for Ghana’s economy, where the focus is shifting from simple digital adoption to building a secure, high-speed, and inclusive digital future.

Ghana’s Banking Sector Evolves: DBG Launches Women’s Lending Initiative as Experts Call for New Strategies in Low-Interest Era
business|

Ghana’s Banking Sector Evolves: DBG Launches Women’s Lending Initiative as Experts Call for New Strategies in Low-Interest Era

Ghana’s financial sector is entering a pivotal phase of transformation, characterized by stabilizing macroeconomic conditions and a strategic shift toward inclusive lending. At the 2026 Ghana Banking Forum, Professor Ebo Turkson of the University of Ghana and experts from PwC Ghana urged banks to restructure their business models in response to a declining interest rate environment. As traditional high-interest returns diminish, banks are being encouraged to diversify revenue through digital banking, transaction services, and advisory roles. This call for innovation comes as the Chartered Institute of Bankers (CIB) Ghana enters a new leadership era, having recently elected Dr. Ellen Ohene-Afoakwa, Managing Executive at Absa Bank Ghana, as its President. Under her tenure, the institute aims to prioritize skills development and staff welfare following a robust financial year that saw a 33% surge in revenue. A central pillar of this industry evolution is a surge in support for women-led enterprises, which face an estimated USD 42 billion financing gap in Sub-Saharan Africa. Development Bank Ghana (DBG) marked its fifth anniversary by launching the "DBG Women’s Lending Programme" in Kumasi. The initiative is designed to assist 1,000 women-owned businesses by 2028, specifically targeting sectors like agriculture, manufacturing, and technology by reducing barriers such as high collateral requirements. This move complements existing efforts like Ecobank Ghana’s Ellevate Programme, which has already onboarded over 13,000 customers and provides collateral-free loans up to USD 50,000. Furthermore, the anticipated launch of the Women’s Development Bank, bolstered by the Bank of Ghana’s macro-reset, signaling a nationwide commitment to ensuring economic stability translates into tangible growth for female entrepreneurs. Operational efficiency and social responsibility are also taking center stage as banks modernize their service delivery. The National Investment Bank (NIB) PLC recently commissioned a new fleet of 17 vehicles, including Toyota Corolla Cross and Nissan Navara models, to enhance staff mobility and customer outreach across the country. Managing Director Dr. Doli-Wura Zakaria described the acquisition as a milestone in the bank's transformation strategy. Simultaneously, Absa Bank Ghana has reinforced its sustainability agenda by conducting financial literacy sessions for Persons with Disabilities in collaboration with the British Council. These sessions focus on budgeting, saving, and fraud prevention, aiming to foster financial independence and ensure that the benefits of Ghana's economic recovery are accessible to all segments of society. Ultimately, these developments signal a maturing financial ecosystem that is moving beyond traditional profit models toward a more sustainable and inclusive framework. By addressing the specific needs of underserved groups and modernizing infrastructure, Ghana’s banks are positioning themselves as critical drivers of national development. As interest rates continue to reflect a more stable economy, the success of these institutions will increasingly depend on their ability to innovate and provide cheaper, more accessible credit to the productive sectors of the Ghanaian economy.

Tackie Teiko Tsuru II (4th from right), Ga Mantse, assisted by Augustus Goosie Tanoh (5th from right), Presidential Advisor on the 24-Hour Economy; Nana Opare Kwafo I (3rd from right), Chairman, Ghana Chamber of Construction Industry, and other dignitaries at the opening of the seventh Ghana Investment and Trade Week Show
business|

Government Scales Up Energy Infrastructure and Industrial Support to Drive Ghana's 24-Hour Economy Initiative

The Ghanaian government has accelerated its efforts to institutionalize a 24-hour economy by unveiling a series of strategic energy projects and industrial partnerships designed to lower operational costs and boost productivity. At the forefront of these initiatives is a massive 1.5-gigawatt solar-hydropower project at Buipe in the Savannah Region, which includes battery energy storage. This project aims to drastically reduce industrial electricity tariffs from the current 18–23 cents per kilowatt-hour to just 7–9 cents. Minister of Labour, Jobs, and Employment, Dr. Abdul-Rashid Pelpuo, revealed that over 10,000 businesses have already registered for government support under the 24-hour economy framework, seeking access to affordable electricity and expanded working capital to scale their operations. To ensure the reliability of this transition, the Ministry of Energy and Green Transition has intensified its engagement with key private sector stakeholders. Energy Minister Dr. John Abdulai Jinapor recently met with Seth Twum-Akwaboah, CEO of the Association of Ghana Industries (AGI), to solidify a partnership aimed at fostering a more resilient energy sector. Dr. Jinapor emphasized that industry insights are crucial for shaping economic policies that support industrial expansion. Complementing this, Deputy Energy Minister Richard Gyan-Mensah, speaking at the 2026 Ghana Investment and Trade Week (GITW) Conference, underscored that dependable energy, modern infrastructure, and sustainable real estate are the three pillars required to enhance Ghana’s investment attractiveness and global competitiveness. International cooperation is also playing a pivotal role in Ghana’s energy evolution. The Energy Commission of Ghana recently signed a Memorandum of Understanding (MoU) with the UAE-based Global South Utilities (GSU) to explore technical cooperation and investment opportunities. Signed by Acting Executive Secretary Adwoa Serwaa Bondzie and GSU CEO Ali Al Shimmari, the agreement focuses on knowledge exchange and improving infrastructure resilience to support the nation's green transition. This partnership aligns with the government's broader strategy to attract foreign direct investment into renewable energy and electric mobility solutions, ensuring that the shift to a 24-hour cycle is both economically viable and environmentally sustainable. While long-term infrastructure is being developed, the Electricity Company of Ghana (ECG) continues to manage immediate maintenance needs to stabilize the current grid. Recent planned maintenance across the Ashanti, Accra West, Volta, and Central regions reflects the ongoing effort to upgrade service delivery amidst the transition. The convergence of these energy reforms, international partnerships, and direct business support signals a comprehensive approach to economic transformation. By lowering the cost of power and providing a stable regulatory environment, the government aims to create sustainable employment and position Ghana as a competitive industrial hub in the sub-region.

Dr Wisdom Dogbey (3rd from left), Managing Director of Cocoa Marketing Company, with his delegation and representatives of the Saudia Arabian partners after their business discussion
business|

Ghana Strengthens Agribusiness with New Gulf Cocoa Deals and 'Feed Ghana' Technical Support

The Cocoa Marketing Company (CMC) Ghana Limited has successfully secured significant offtake agreements with major confectionery and beverage firms in the United Arab Emirates (UAE) and Saudi Arabia. Led by Managing Director Dr. Wisdom Kofi Dogbey, these multi-year commitments focus on semi-finished products—including cocoa liquor, butter, cake, and powder—marking a strategic pivot toward local value addition. This initiative aligns with a national objective to process 50% of Ghana’s cocoa beans domestically, effectively reducing the country's historical over-reliance on European markets. In Dubai, discussions with the Dubai Multi Commodities Centre (DMCC) aimed to integrate Ghanaian cocoa into regional value chains, while in Riyadh, the agreements were aligned with Saudi Arabia’s Vision 2030 food sustainability goals to ensure long-term market stability. Parallel to these export gains, the Ministry of Food and Agriculture is intensifying domestic production through the "Feed Ghana" program. Minister Eric Opoku recently announced that the country is projected to experience a significant tomato glut within the next three to four months. This anticipated surplus is the result of government-led interventions, including the distribution of high-yield seeds, the expansion of solar-powered irrigation boreholes, and an off-take system designed to guarantee market access for farmers. To further boost the agricultural value chain, the Ministry is overseeing the construction of a poultry processing center in Bechem, scheduled for completion by December, alongside plans for soy and sorghum processing plants to stabilize farmer incomes and enhance national food security. The sector is also seeing a surge in demand for technical expertise and improved infrastructure. Minister Opoku reported that private agribusinesses are already competing to hire newly trained "Feed Ghana Brigadiers" even before their official deployment. During a recent ceremony for 506 graduates, several firms requested the services of these skilled professionals to provide advisory and technical support for commercial farming operations. This emphasis on human capital is complemented by innovative post-harvest solutions, such as the recently inaugurated community warehouse in Shebo, Northern Region. A collaboration between the German Development Cooperation and Saving Grains 301 GmbH, the facility has already helped over 16,000 farmers reduce post-harvest losses by an estimated 80% through better storage and marketing access. While agriculture remains a primary focus, experts are calling for similar structural reforms in other industrial sectors to ensure long-term economic resilience. Professor Ebenezer Kofi Howard of the Kwame Nkrumah University of Science and Technology (KNUST) highlighted the urgent need for a sustainable raw material base for Ghana's textile industry, where over 70% of products are currently imported. He proposed restructuring the National Cotton Development Authority and establishing an Industrial Dyes Park to revitalize local production. Collectively, these developments—from secured cocoa markets in the Gulf to the professionalization of agricultural labor—reflect a comprehensive drive to transform Ghana into a value-adding, commercially viable economy that prioritizes domestic processing and skilled employment.

Ghana Strategizes Mining Sector Evolution Through Local Processing Mandates and $700 Million Industrial Partnership
business|

Ghana Strategizes Mining Sector Evolution Through Local Processing Mandates and $700 Million Industrial Partnership

Ghana is significantly shifting its mining policy toward value retention and domestic processing to maximize the economic benefits of its mineral wealth. Outgoing Swiss Ambassador Simone Giger recently highlighted that while Switzerland remains the primary destination for refining Ghana’s large-scale gold production, the Ghanaian government has introduced a landmark directive requiring large-scale mining firms to sell 30% of their output to the Ghana Gold Board. This policy, which became effective in July 2026, is specifically designed to bolster local processing capacities and reduce the nation’s historical dependency on raw material exports. The move comes as Ghana seeks to stabilize its macroeconomic environment and implement structural reforms for long-term sustainability. Complementing these regulatory changes is a major $700 million industrial initiative aimed at self-sufficiency in mining inputs. The government has entered into a Memorandum of Understanding with Petrochemical Holding GmbH (PCH) to establish the GreenRock Petrochemical Ghana Limited complex. This facility will focus on producing essential mining chemicals like sodium cyanide and chlor-alkali caustic soda, which are currently largely imported. Beyond manufacturing, the partnership includes a nationwide program for environmental remediation, utilizing PCH’s technology to recover gold from mining waste (tailings) and rehabilitate land and water resources damaged by mining activities. This aligns with a broader industrial transformation aimed at making Ghana a hub for mining chemicals in the West African sub-region. The sector's growth is also characterized by complex legal challenges and strengthening international investment ties. A high-profile dispute continues over the $100 million acquisition of the Black Volta and Sankofa gold concessions by Engineers & Planners (E&P). While some reports suggested non-compliance with international arbitration orders from the ICC in London, Azumah Resources Ghana has firmly rejected these claims, asserting the legality of the acquisition and contesting enforcement orders in foreign courts. Amidst these legal nuances, Canada has reiterated its commitment to the Ghanaian market, with High Commissioner Myriam Montrat emphasizing a focus on responsible mining and sustainable trade as pillars of the two nations' economic partnership. As Ghana navigates these legal disputes and industrial expansions, the ultimate goal remains economic diversification. International stakeholders, including Ambassador Giger, have urged the nation to move beyond its traditional reliance on gold and cocoa by investing in value-added products and structural reforms. The combination of mandatory local gold sales, new chemical manufacturing capabilities, and international support for anti-illegal mining efforts (galamsey) signals a comprehensive attempt to modernize the extractive sector. These efforts are expected to enhance job creation, retain more wealth within the country, and ensure that Ghana’s mineral wealth provides more tangible, long-term benefits to its local communities.