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Kwame Asare Obeng (A Plus) Announces Plans for Africa’s Largest Solar Energy Facility in Gomoa Central
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Kwame Asare Obeng (A Plus) Announces Plans for Africa’s Largest Solar Energy Facility in Gomoa Central

Kwame Asare Obeng, popularly known as A Plus and the Member of Parliament for Gomoa Central, has unveiled an ambitious plan to establish Africa’s largest solar energy facility within his constituency. The initiative is designed to address energy reliability and affordability, which are seen as critical bottlenecks to industrial expansion in the region. By leveraging renewable energy, the project aims to transform Gomoa Central into a prominent industrial hub and a prime destination for both domestic and international investors. The proposed solar facility is central to the lawmaker’s broader development agenda for the district. According to A Plus, providing a stable and cost-effective power supply is the most effective way to attract manufacturing and service-based businesses to the area. He emphasized that the project is not merely about power generation but is a strategic move to create sustainable jobs and stimulate the local economy. This focus on green energy aligns with global shifts toward sustainability, potentially positioning Ghana as a leader in renewable energy infrastructure on the continent. As the project moves from the planning stages toward implementation, it is expected to have significant implications for Ghana’s national grid and its overarching industrialization policy. If successful, the facility could serve as a blueprint for other regions seeking to decentralize power production and promote industrial growth through renewable sources. For Gomoa Central, the transition to solar power represents a step toward energy independence and long-term economic resilience, signaling a shift in how local leaders approach infrastructure and community development.

Ishmael Abbey (left), Head of Business Development, Forms Capital Limited, signing the partnership agreement. With him are Klenam Fiadzoe (middle), Co-founder, Socialite AF, and Samuel Allotey (right), Founder of The Design Junkies
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Forms Capital and ActionAid Lead New Economic Empowerment Initiatives Across Ghana

Ghana’s business landscape is witnessing a dual-track approach to development, with new initiatives targeting both high-tech financial solutions in the capital and grassroots vocational empowerment in rural districts. From the 48-hour Hack54 hackathon in Accra to ActionAid’s soap-making training in the Bono Region, these efforts highlight a nationwide push to bridge the financial inclusion gap and create sustainable livelihoods for diverse segments of the population. The Hack54 2023 event, scheduled for July 14 to 17 at the Google AI Community Center in Accra, represents the digital frontier of this economic drive. Organized by Forms Capital Limited in partnership with The Design Junkies and Socialite AF, the hackathon challenges developers, designers, and entrepreneurs to build minimum viable products (MVPs) focusing on youth banking and SME financing. Ishmael Abbey of Forms Capital underscored that digital innovation is essential for building inclusive financial systems, while Klenam Fiadzoe of Socialite AF and Samuel Allotey of The Design Junkies emphasized the need for bold, tangible products that can solve real-world financial challenges through mentorship and industry connections. Parallel to these technological advancements, ActionAid Ghana is addressing economic disparities at the community level in the Banda District of the Bono Region. By sponsoring vocational training in soap-making, the organization is providing rural women with the tools needed to overcome limited job opportunities and unreliable income streams. Recently, seven mothers from ActionAid’s Child Sponsorship Scheme were equipped with start-up kits to launch their own businesses. Local authorities have praised the initiative, noting its potential to reduce poverty, improve household welfare, and allow families to invest more consistently in their children’s education. Collectively, these initiatives demonstrate the multifaceted nature of Ghana's economic evolution. While Hack54 seeks to revolutionize the fintech sector by empowering young innovators to solve complex banking issues, ActionAid’s grassroots intervention ensures that the benefits of economic growth reach the most vulnerable populations. Together, they represent a comprehensive strategy for national development that balances high-end digital transformation with essential vocational skills to foster a more resilient and inclusive economy.

Ghana Water Limited Surcharges Customer GH¢74,000 Following Illegal Water Reconnection and Arrest
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Ghana Water Limited Surcharges Customer GH¢74,000 Following Illegal Water Reconnection and Arrest

Ghana Water Limited (GWL) has imposed a significant surcharge of GH¢74,000 on a customer, Sabare Dramani Isaah, for the illegal reconnection of water services to the national distribution network. The discovery was made on June 15, 2026, by GWL’s Revenue Enhancement Team during a proactive nationwide campaign designed to identify and eliminate unauthorized water usage. This enforcement action highlights the utility company’s intensified efforts to curb revenue losses caused by illegal connections, which continue to threaten the sustainability of water supply services across the country. Investigations revealed that the customer had been disconnected from the national grid for approximately three months prior to the detection of the illegal act. Rather than following established protocols for reconnection, Mr. Isaah allegedly took matters into his own hands by reinstating the water service and installing an additional service line without the company’s approval. Despite being invited by the police to assist with investigations, the customer reportedly ignored multiple summons, eventually leading to his arrest once the illegalities were fully documented and verified by the GWL technical team. The Managing Director of Ghana Water Limited emphasized that such illegal activities are a major drain on the company’s financial resources, which are critical for the maintenance and expansion of vital water infrastructure. The GH¢74,000 surcharge is intended to recover lost revenue and serve as a deterrent to others who might consider bypassing the utility’s billing systems. GWL has reiterated its commitment to protecting its distribution network and has urged the public to report suspicious connections while advising delinquent customers to utilize official channels to regularize their services. This incident serves as a stark reminder of the legal and financial consequences associated with tampering with public utility infrastructure. As GWL continues its revenue enhancement drive, the company has signaled that it will not hesitate to prosecute offenders to the full extent of the law. By cracking down on illegal reconnections, the utility provider aims to improve service delivery for law-abiding citizens and ensure that the necessary funds are available to address the growing demand for clean water in Ghana’s expanding urban and rural communities.

Facilitators and participants after the meeting
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Ghana Maritime Authority Earns Praise for Service Reforms as Stakeholders Urge Deeper Digitalization

Ghana's maritime sector is witnessing a significant shift toward efficiency and transparency, driven by recent administrative reforms and a push for comprehensive digital transformation. Ghanaian seafarers have expressed their gratitude to the Ghana Maritime Authority (GMA) for marked improvements in service delivery, noting that the frustration of long wait times and delays in obtaining maritime documents has been largely resolved. These improvements are critical for seafarers' duty readiness and professional standing, reflecting a more responsive regulatory environment. The recent praise from the seafarer community specifically highlights the streamlining of certification and renewal processes. By introducing electronic payment options and digitizing workflows, the GMA has reduced the need for physical presence and manual processing, which were previously major bottlenecks. Dr. Kamal-Deen Ali, the Director-General of the GMA, emphasized that these reforms are not static but part of a continuous effort to improve services based on direct feedback from industry stakeholders. This proactive stance is seen as a vital step in maintaining the authority's relevance and support for the workforce. Complementing these internal reforms, broader industry stakeholders are calling for even deeper integration and coordination across the maritime sector. At a recent four-day workshop focused on maritime traffic and anti-corruption, experts highlighted the necessity of aligning the work plans of various maritime committees. The goal is to create a more transparent and competitive trade environment by addressing governance challenges and reducing port inefficiencies through enhanced inter-agency collaboration and digital transformation. Ultimately, these collective efforts aim to solidify Ghana's commitment to international maritime standards. By fostering a culture of transparency and leveraging technology to facilitate trade, the maritime sector is positioning itself as a cornerstone of national economic growth. The successful implementation of these reforms and the continued focus on stakeholder collaboration are expected to further enhance the ease of doing business at Ghana's ports, ensuring the industry remains robust and globally competitive.

Clinton Consultancy and Perterms Lead Ghanaian Business Success at 2026 Global and Regional Award Ceremonies
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Clinton Consultancy and Perterms Lead Ghanaian Business Success at 2026 Global and Regional Award Ceremonies

Ghanaian enterprises and professional firms have secured significant recognition on both local and international stages, highlighting the nation's growing influence in business excellence and sustainable development. Throughout June 2026, several high-profile award ceremonies—including the 3rd Ghana Outstanding Business Achievement Awards (GOBAA), the Global 100 Awards, and the Business SDG Awards—honoured organisations that have demonstrated exceptional leadership, innovation, and commitment to economic growth. These accolades underscore a broader trend of Ghanaian companies expanding their impact beyond national borders while maintaining high standards of corporate governance and service delivery. In Accra, the 3rd Edition of the Ghana Outstanding Business Achievement Awards (GOBAA) was held on June 26 at the La Palm Royal Beach Hotel. Under the theme 'Champions of Industry: Recognising Excellence, Advancing National Prosperity,' the event brought together business leaders and diplomats to celebrate those driving the country’s socio-economic development. Notable award recipients included Ankobra West Community Bank and Annandale Ghana Limited. The ceremony also served as a platform for international cooperation, featuring addresses from representatives of Sierra Leone, the Philippines, and Zambia, who explored trade and investment opportunities within the region. On the legal front, the Law Office of Clinton Consultancy has been named the 'Leading Firm in Law Practice in Ghana for 2026' at the prestigious Global 100 Awards. Led by partners Bianca and Amanda Clinton, the firm was recognised for its outstanding capabilities in corporate law, litigation, and cross-border legal advisory services. This award highlights the firm’s growing international profile and its success in providing tailored legal solutions across various jurisdictions. The recognition of Clinton Consultancy not only marks a milestone for the firm but also reflects the rising reputation of Ghana’s legal industry in the global market. Extending the reach of Ghanaian-linked consultancy success, Perterms Consultancy Limited achieved a triple victory at the Business SDG Awards 2026, held at the Hyatt Regency Hotel in Dar es Salaam, Tanzania. The event, which attracted over 200 organisations, focused on advancing the United Nations Sustainable Development Goals (SDGs). Perterms Consultancy's win across three major categories emphasises the critical role of specialized advisory services in promoting sustainable business practices within the African context. These diverse achievements across legal, banking, and sustainability sectors collectively demonstrate the resilience and competitive edge of Ghanaian-led initiatives in 2026.

Ghana Officials Drive Global Investment Campaigns in US and China, Promoting 'Made-in-Ghana' Brand
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Ghana Officials Drive Global Investment Campaigns in US and China, Promoting 'Made-in-Ghana' Brand

Ghanaian government officials and diplomats have launched a series of high-profile investment and trade campaigns across the United States and China, signaling a strategic shift from seeking aid to fostering robust commercial partnerships. From Chicago and Boston to the industrial hubs of China, the 'Made in Ghana' brand is being positioned as a gateway to the African Continental Free Trade Area (AfCFTA). These efforts emphasize Ghana’s economic resilience, its status as Africa’s top gold producer, and its commitment to value-added exports over raw materials. At the 5th Annual Business Exchange Forum in Chicago, Council of State member Gabriel Tanko Kwamigah-Atokple delivered a compelling message to American investors and the African Diaspora: "Ghana isn’t asking for charity—it’s open for business." He specifically highlighted the untapped potential of the Volta Region, citing its fertile land and upcoming port infrastructure projects as prime opportunities. Complementing this, in Philadelphia, the Ghana Diaspora Public Affairs Collective (GHPAC) hosted the "Global Pitch Philadelphia" forum. Supported by US Congressman Brendan Boyle, the event sought to strengthen the "Next Atlantic Economy" by leveraging the upcoming FIFA World Cup to deepen economic ties between the US and West Africa. The momentum continued in Boston, where the "Made-in-Ghana FIFA World Cup 2026 Expo" drew hundreds of participants. Organized by Litina Travel and Tours in partnership with the Ministry of Trade and Industry, the expo featured sectors ranging from manufacturing to hospitality. Attended by Deputy Minister Samson Ahi and Ambassador Emmanuel Smith, the event served as a platform for Ghanaian businesses to showcase finished products to international buyers. This initiative aligns with the government’s broader strategy to utilize global sporting events as catalysts for long-term export growth and cultural exchange. Beyond the US, Ghana is also intensifying its efforts in the Asian market. Ambassador to China, Kojo Bonsu, recently visited the China Foreign Trade Centre to urge local businesses to secure exhibition spaces at the prestigious Canton Fair. Bonsu emphasized that for Ghana to achieve sustainable growth, it must move beyond exporting raw materials to promoting finished goods such as processed minerals and textiles. This focus on value addition is a cornerstone of Ghana’s Critical Minerals Policy, which aims to enhance local processing capacities and ensure the country captures a larger share of the global value chain. These coordinated international efforts reflect a unified national strategy to position Ghana as a premier investment destination and a competitive global exporter. By leveraging high-level diplomatic engagements and major international events, Ghana seeks to capitalize on its democratic stability and strategic location within the AfCFTA framework. As these initiatives move forward, the focus remains on transforming "Made in Ghana" from a local label into a globally recognized mark of quality, ultimately driving industrialization and sustainable economic development.

Governor Johnson Asiama Shares Ghana’s Recovery Lessons and Advocates for Stronger African Domestic Debt Markets
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Governor Johnson Asiama Shares Ghana’s Recovery Lessons and Advocates for Stronger African Domestic Debt Markets

Dr. Johnson Asiama, the Governor of the Bank of Ghana, has underscored the vital role of resilient domestic debt markets in securing economic stability across the African continent. Speaking at the Bank for International Settlements (BIS) Roundtable of Governors from African Central Banks in Basel on June 27, 2026, Dr. Asiama shared insights from Ghana’s journey from crisis to recovery. He argued that the Ghanaian experience provides a blueprint for other African nations looking to navigate macroeconomic challenges and build more robust financial foundations. The Governor emphasized that as African nations increasingly pivot toward domestic borrowing to fund development projects, the creation of deeper and more diversified capital markets has become a necessity. According to Dr. Asiama, well-functioning domestic markets are essential for safeguarding financial stability and providing governments with sustainable financing options. By strengthening these local markets, countries can significantly reduce their vulnerability to global economic shocks and minimize their historical over-reliance on volatile external borrowing. The BIS Roundtable brought together central bank governors from across Africa to deliberate on prevailing macroeconomic trends and the resilience of the continent's financial sectors. During the discussions, Dr. Asiama highlighted that a strategic focus on domestic debt not only aids in crisis recovery but also serves as a catalyst for long-term sustainable growth. He noted that developing these markets requires a concerted effort to improve financial infrastructure and broaden the investor base, ensuring that the domestic financial system can absorb shocks while supporting national development goals. The Governor's remarks come at a time when many African economies are reassessing their fiscal strategies in the face of shifting global financial conditions. The lessons from Ghana's recovery serve as a call to action for regional central banks to prioritize financial sector reforms that foster domestic liquidity. Ultimately, Dr. Asiama's vision for Africa involves a more self-reliant financial landscape where domestic resources are effectively mobilized to drive economic transformation and maintain long-term stability across the region.

World Bank Revises Ghana’s 2026 Growth Forecast Upward to 4.8% Amid Regional Economic Challenges
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World Bank Revises Ghana’s 2026 Growth Forecast Upward to 4.8% Amid Regional Economic Challenges

The World Bank has revised Ghana’s Gross Domestic Product (GDP) growth forecast for 2026 upward to 4.8%, representing a 0.2 percentage point increase from previous projections. While this revision indicates a positive shift in the country's economic trajectory, the 2026 figure reflects a deceleration compared to the 6.0% growth rate anticipated in 2025. According to the World Bank’s Global Economic Prospects report, this trend signifies Ghana's transition from a post-crisis recovery phase toward a more sustainable and stable medium-term growth path. The outlook for the subsequent years remains cautiously optimistic, with the World Bank projecting growth rates of 4.9% in 2027 and 5.0% in 2028. Notably, Ghana is expected to consistently outperform the broader Sub-Saharan Africa (SSA) region, where average growth is forecasted at 4.0% for 2026. The regional average was recently revised downward due to the persistent impact of geopolitical instability and security concerns, which continue to disrupt key economic drivers and dampen investor confidence across several African nations. Despite the favorable projections for Ghana, the World Bank warns of significant systemic risks that could hinder overall regional progress. Global geopolitical conflicts remain a primary concern, potentially impacting trade and investment flows. Furthermore, the report highlights a critical disconnect between economic growth and social development; real per capita GDP growth in Sub-Saharan Africa is projected at only 1.6% for 2026. This level is considered insufficient to achieve substantial reductions in extreme poverty or to meet the employment needs of a labor force that is expected to be the fastest-growing globally by 2030. To maintain this momentum and ensure that growth translates into tangible benefits for the citizenry, the World Bank emphasizes the importance of continued structural reforms and the effective implementation of regional trade agreements. While Ghana’s upward revision is a testament to its relative economic resilience, the broader regional context suggests that job creation must accelerate significantly to bridge the gap between workforce expansion and available economic opportunities.

Government Treasury Bills Auction Records 60% Oversubscription as Interest Rates Rise to Nearly 13%
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Government Treasury Bills Auction Records 60% Oversubscription as Interest Rates Rise to Nearly 13%

The Government of Ghana has recorded a significant 60% oversubscription in its latest treasury bills auction, signaling strong investor appetite despite a rising cost of borrowing. Total bids from investors reached GH¢7.3 billion, far exceeding the government’s initial target of GH¢4.5 billion. Of the total bids received, the government opted to accept GH¢6.01 billion, leveraging the high liquidity in the market to meet its short-term financing needs. This oversubscription highlights a robust demand for government paper in the domestic market, even as the fiscal environment evolves. Analysis of the auction results shows that the 364-day bill was the most preferred instrument among investors, accounting for approximately 73% of the total bids. Specifically, the 364-day bill attracted GH¢5.4 billion in tenders, with the government accepting GH¢4.2 billion at a yield of 12.82%. In contrast, the 91-day bill saw bids totaling GH¢1.47 billion and an allocation of GH¢1.34 billion, while the 182-day bill recorded GH¢461.9 million in bids, with GH¢378 million accepted. The concentration of bids in the longer-tenor bill suggests a strategic move by investors to lock in higher rates for a full year. While the oversubscription demonstrates confidence in the government's short-term debt instruments, it comes at a notably higher cost to the taxpayer. Interest rates across all tenors have surged, with some yields approaching the 13% mark. This trend represents a significant shift in the domestic debt market, marking a notable yield increase across all categories. Specifically, the 91-day bill yield rose to 5.73%, the 182-day bill increased to 7.69%, and the 364-day bill climbed to 12.82%, reflecting broader upward pressure on interest rates. The rise in interest rates suggests a tightening of market conditions or a potential shift in investor expectations regarding inflation and fiscal stability. For the government, while the ability to raise significant capital from the domestic market is a positive sign for short-term liquidity, the increasing yield environment will likely place additional pressure on the national budget for debt servicing. Moving forward, market analysts will be watching closely to see if this upward trend in rates persists in subsequent auctions or if the government will implement measures to contain the rising cost of domestic borrowing. This development underscores the delicate balance the treasury must maintain between meeting funding requirements and managing the long-term sustainability of the national debt.

China Endorses Ghana’s Energy Self-Reliance as Sentuo Oil Refinery Expands Capacity to 100,000 Barrels Per Day
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China Endorses Ghana’s Energy Self-Reliance as Sentuo Oil Refinery Expands Capacity to 100,000 Barrels Per Day

The Chinese government has formally commended Ghana for its steadfast commitment to achieving energy self-reliance, marking a significant milestone in the nation’s industrialization journey. During the commissioning of Phase Two of the Sentuo Oil Refinery project in Tema, Chinese Ambassador Cong Song expressed strong support for Ghana’s strategic objective to add value to its natural resources locally. The expansion of the refinery is a central pillar of this vision, representing a major step toward reducing the country’s dependence on imported refined petroleum products and bolstering national energy security. The Phase Two expansion significantly elevates the refinery’s processing capacity, increasing it from 40,000 to 100,000 barrels per day. This substantial growth allows Ghana to domestically refine a larger portion of the crude oil produced from the Jubilee Oil Field, ensuring that more of the value chain remains within the country. Ambassador Cong Song highlighted that this development aligns with Ghana’s broader economic policy to cease the export of raw minerals by 2030, a move designed to stimulate industrial upgrading and create high-value employment opportunities for the Ghanaian workforce. The ceremony was attended by prominent figures, including President John Dramani Mahama, underscoring the high-level importance of the project to Ghana’s economic roadmap. Beyond its immediate production benefits, the Sentuo Oil Refinery is positioned to transform Ghana into a dominant petroleum refining leader within the West African sub-region. By leveraging its strategic location and increased capacity, the nation aims to serve as a regional energy hub, providing refined fuel to neighboring markets and enhancing the collective economic stability of the ECOWAS zone. This project further cements the strategic partnership between China and Ghana, reflecting a shared focus on infrastructure development and technology transfer. As the refinery moves into its new operational phase, it serves as a blueprint for how international cooperation can drive local industrial capacity. The successful scaling of the Sentuo facility is expected to catalyze further investments in the energy sector, ultimately fostering a more resilient and self-sufficient Ghanaian economy that is less vulnerable to global market fluctuations.

Shengyuan Carpet: Bridging Tibetan Craftsmanship and Modern Industrial Innovation in Qinghai
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Shengyuan Carpet: Bridging Tibetan Craftsmanship and Modern Industrial Innovation in Qinghai

In the heart of Xining, Qinghai Province, the Shengyuan Carpet company has emerged as a landmark of industrial transformation, successfully marrying centuries-old Tibetan craftsmanship with cutting-edge manufacturing technology. This fusion represents a strategic shift in China’s Western industrial development, where intangible cultural heritage is not merely preserved but scaled for the modern global market. By producing a diverse range of products—from meticulously hand-knotted rugs to high-volume, machine-made Axminster carpets—Shengyuan demonstrates how traditional art forms can thrive within a modern commercial ecosystem without losing their historical essence. Central to the company’s operations is a strong commitment to social inclusion and regional economic stability. Shengyuan employs approximately 338 staff members, with women comprising 70% of the workforce. This focus on gender inclusivity provides vital professional opportunities in rural areas, allowing women to play a leading role in both the preservation of cultural techniques and the management of modern industrial processes. The Tibetan carpet sector has thus become an essential pillar for rural employment, turning localized skills into a sustainable source of income and empowerment for hundreds of families across the province. The technological integration at Shengyuan is a key driver of its international competitiveness. The facility utilizes advanced tools, including Artificial Intelligence and sophisticated industrial machinery, to meet the rigorous demands of global trade. This industrial capacity allows for the production of nearly one million square metres of Axminster carpets annually. However, the company maintains a careful balance by continuing to produce limited quantities of traditional hand-knotted carpets. This dual-track approach ensures that while the enterprise achieves the scale required for international markets, the intricate precision of traditional Tibetan weaving is maintained as a living art form. As Qinghai continues to position itself as a hub in the national industrial strategy, Shengyuan Carpet serves as a blueprint for balancing economic growth with cultural identity. By adapting historical techniques to contemporary industrial needs, the enterprise ensures that the region’s heritage remains relevant and profitable in an evolving global economy. This model highlights a sustainable path forward where innovation does not replace tradition, but rather provides the infrastructure and global reach necessary for it to endure for future generations.

Ghana Solidifies Regional Leadership in West African ESG Regulation and Sustainable Finance
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Ghana Solidifies Regional Leadership in West African ESG Regulation and Sustainable Finance

Ghana has emerged as the regional leader in Environmental, Social, and Governance (ESG) regulation within West Africa, according to findings from a high-level roundtable recently hosted by the International Finance Corporation (IFC) in Accra. This leadership position is primarily attributed to the Bank of Ghana’s introduction of the Sustainable Banking Principles in 2020, which mandated that financial institutions integrate environmental and social risk assessments into their core operations and lending practices. The roundtable brought together key development partners, including the World Bank Group, the United Nations Development Programme (UNDP), and the Swiss Embassy, to evaluate how these frameworks are bolstering the nation's investment readiness and operational accountability. During the discussions, experts emphasized that ESG considerations have evolved from optional corporate social responsibility initiatives into essential drivers of business sustainability and global competitiveness. Ms. Damilola Sobo Smith of the IFC noted that the current regulatory environment has significantly improved transparency and risk management within the financial sector. By requiring banks to evaluate critical factors such as climate change, waste management, and labor conditions, Ghana has created a more resilient financial ecosystem. This consistency in policy application among regulators has not only improved internal banking decision-making but has also significantly strengthened investor confidence in the Ghanaian market. While the progress in the banking sector was widely praised, development partners and industry experts are now calling for a broader implementation of these standards. Ms. Magdalena Wüst from the Swiss Embassy acknowledged the success of years of institutional support in strengthening the financial sector but urged for the expansion of ESG practices across all other economic sectors. The consensus at the roundtable suggested that for Ghana to maintain its competitive edge and ensure inclusive growth, the principles of sustainability and governance must move beyond the financial halls and be adopted by the wider private sector. The next phase of Ghana's development will likely focus on creating a multi-sectoral commitment to these global standards to address emerging socio-environmental challenges.