Ghana News AI

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.

GEXIM Celebrates a Decade of Growth: Loan Portfolio Hits $278m Amid Strategic Shift to Export-Led Economy
business|

GEXIM Celebrates a Decade of Growth: Loan Portfolio Hits $278m Amid Strategic Shift to Export-Led Economy

The Ghana Export-Import Bank (GEXIM) has marked its 10th anniversary with a significant milestone, reporting a nearly fourfold increase in its loan portfolio from US$68 million in 2016 to US$278 million by late 2025. During an international conference held in Accra, Vice President Professor Naana Jane Opoku-Agyemang commended the institution for its pivotal role in breaking Ghana’s reliance on raw material exports. The bank has successfully supported 147 businesses across the country, reinforcing its commitment to industrial growth and export diversification. Chief Executive Hon. Sylvester Adinam Mensah attributed this success to improved financial operations, noting that annual import levy collections rose from US$34 million to over US$71 million during the same period. Despite these financial gains, the leadership of GEXIM emphasized that capital alone is insufficient to drive sustainable export growth. CEO Sylvester Mensah introduced a strategic shift toward a more holistic support system, identifying high capital costs, weak market information, and logistics challenges as persistent barriers for local businesses. To address these, the bank is transitioning from traditional lending to offering tailored solutions such as export credit guarantees, invoice discounting, and advisory services. Deputy Minister for Trade and Agribusiness, Sampson Ahi, reinforced this sentiment, urging the bank to ensure its "reset" agenda delivers tangible outcomes for small and medium-sized enterprises (MSMEs) rather than relying on slogans. This new direction is anchored by five key pillars designed to strengthen Ghana’s trade and industrial foundation by 2030. Central to GEXIM’s future strategy is the transition from an import-driven economy to a production-based model. The bank has identified strategic sectors for intensive development, including agro-processing, pharmaceuticals, textiles, and the cashew industry. Specific initiatives are underway to enhance the capacity of local rice and poultry growers to satisfy domestic demand before expanding into regional markets. By focusing on value-addition, GEXIM aims to create more jobs and increase national revenue. This industrial push is supported by the Bank of Ghana, with Dr. Johnson Asiama highlighting that while the country is building reserves to weather global commodity shocks in the oil and gold markets, a robust export-led manufacturing sector is essential for long-term economic stability. Looking ahead, GEXIM has strengthened its global reach by partnering with over twelve development finance institutions to align with national industrialization priorities and food security goals. The bank's leadership remains focused on balancing ambitious growth with disciplined risk management to maintain institutional credibility. By prioritizing sectors that reduce import dependence and enhance foreign exchange generation, GEXIM seeks to position Ghanaian businesses as competitive players in the global market. The 10th anniversary serves as both a reflection on a decade of economic contribution and a launchpad for a decade of intensive, solutions-driven trade facilitation.

Ghana’s Economic Transition: GNCCI Boosts Youth Entrepreneurship Amidst Energy and Transport Reforms
business|

Ghana’s Economic Transition: GNCCI Boosts Youth Entrepreneurship Amidst Energy and Transport Reforms

Ghana’s business landscape is undergoing a significant transformation as national institutions and industry leaders pivot toward technology-driven entrepreneurship and modernized regulatory frameworks. Leading this charge, the Ghana National Chamber of Commerce and Industry (GNCCI) recently launched its fourth Junior Chamber chapter at the University of Mines and Technology (UMaT). This initiative aims to bridge the gap between academia and the private sector by equipping students with practical business skills and mentorship. The move is designed to combat rising youth unemployment by transforming graduates into job creators. This shift is echoed by media personality Klef Carter, who recently argued that while formal education remains a valuable asset, the future of wealth creation increasingly belongs to those who provide tangible value through technology and practical problem-solving rather than degrees alone. Parallel to these educational shifts, the country’s industrial infrastructure is seeing critical operational and regulatory updates. The Electricity Company of Ghana (ECG) has scheduled extensive maintenance across the Tema, Central, Accra East, and Accra West regions for March 25, 2026, to improve network reliability for both residential and industrial consumers. Simultaneously, the National Petroleum Authority (NPA) is advancing the Driver and Mate Remuneration Framework. Through ongoing consultations with fuel transporters and industry stakeholders, the NPA seeks to standardize pay and improve working conditions within the petroleum logistics sector, emphasizing transparency and fairness as essential components of a robust transport industry. Looking toward a more sustainable future, the Energy Commission of Ghana is formalizing the nation’s transition to green transport. The Commission is currently urging the registration of all Electric Vehicle (EV) charging stations and battery swap systems, with a strategic goal of establishing 1,000 charging points by 2028. Draft regulations, which include international safety standards and technical requirements to mitigate fire risks, are set to be presented to Parliament shortly. While the government pushes for EV adoption, participants in recent sensitization events have highlighted the need for improved electricity distribution and clear policies regarding battery disposal to ensure the long-term viability of the green energy ecosystem. On the corporate and international fronts, businesses are navigating evolving market dynamics and regulatory hurdles. In the technology sector, Starlink’s expansion into Southern Africa has faced setbacks, with Namibia following South Africa in rejecting the provider's license due to local ownership requirements. Domestically, companies like Pepsodent are blending marketing with public service through initiatives like the "Smile Ride," which provided free transportation and oral health education to commuters in major cities. These diverse developments—from the global pharmaceutical price wars of weight-loss drugs like Zepbound to local infrastructure maintenance—collectively signal a Ghanaian economy that is balancing immediate operational needs with a strategic, technology-led vision for the future.

Ghana Moves to Secure Damang Mine Jobs as MTN Announces Record Dividends and SME Support Initiatives Expand
business|

Ghana Moves to Secure Damang Mine Jobs as MTN Announces Record Dividends and SME Support Initiatives Expand

The Ghanaian government is taking proactive steps to safeguard employment and national gold production as the mining lease for the Damang Mine, currently managed by Abosso Goldfields Limited, approaches its expiration on April 18, 2026. Minister of Lands and Natural Resources, Emmanuel Armah-Kofi Buah, has emphasized that the mine remains a vital asset for export earnings and local livelihoods. To ensure a seamless transition, the Ministry has announced plans for a competitive bidding process to select a new operator while maintaining existing service contracts in the interim. This move is designed to enhance value for host communities and solidify Ghana’s reputation as a premier destination for responsible foreign investment and sustainable mining practices. Simultaneously, the domestic business environment is seeing significant structural support through a strategic partnership between the 24-Hour Economy Authority and the Ghana National Chamber of Commerce and Industry (GNCCI). A new Memorandum of Understanding (MoU) focuses on strengthening Small and Medium Enterprise (SME) support structures, including a proposed credit insurance guarantee scheme designed to reduce the heavy reliance on physical collateral that often hinders local business growth. In the corporate sector, MTN Ghana has signaled robust financial health, declaring a final dividend of GH‵0.48 per share for the 2025 financial year. This brings the total dividend payout to GH‵6.4 billion, representing a 57% increase fueled by a 55% rise in profit after tax, which exceeded GH‵7.8 billion. Entrepreneurship and community engagement also remain at the forefront of the national economic discourse. Member of Parliament Michael Okyere Baafi recently lauded the resilience of local business leaders for their roles in job creation and national development, while GNCCI Vice-President Emelia Asiakwa called for targeted investment in women-led businesses to drive sustainable growth via the African Continental Free Trade Area (AfCFTA). In other local business news, electronics giant TCL has partnered with the University of Ghana as the official sponsor of its Corporate Football League, emphasizing wellness through technology. Meanwhile, businessman Richard Nii Armah Quaye has faced social media scrutiny regarding the transparency of a gold bar raffle held during his recent birthday celebrations. On the regional and international front, the upcoming 9th Africa Business Tourism & MICE Masterclass in April 2026 aims to professionalize Africa's hospitality and aviation sectors to meet the growing demand for intra-continental travel. Globally, the beauty and nutrition industries are undergoing massive shifts, with Est e Lauder in talks for a $40 billion merger with Spanish fragrance house Puig, and Danone acquiring the plant-based meal replacement company Huel for €1 billion. Additionally, the tech and entertainment world is reacting to the passing of Leonid Radvinsky, the billionaire owner of OnlyFans, who died at age 43 after a battle with cancer. These developments reflect a dynamic period of transition and high-stakes investment across both the Ghanaian and global markets.

Beyond the headlines: How Cocoa Marketing works in Ghana
business|

Ghana Enhances Global Trade Ties with Colombia and U.S. Amid Domestic Agricultural Reforms and Affordability Concerns

Ghana’s business landscape is undergoing a significant transformation, highlighted by a landmark maritime agreement with Colombia and urgent efforts to stabilize domestic agricultural and industrial sectors. In a historic move, Ghana and Colombia have established a direct shipping route between the Port of Tema and the Port of Cartagena. Announced by Foreign Affairs Minister Samuel Okudzeto Ablakwa and supported by Colombian Vice President Francia Elena Márquez Mina, this agreement aims to reduce transit times and enhance trade between Africa and Latin America, reimagining the Atlantic Ocean as a corridor for shared prosperity. This international expansion is further bolstered by the U.S. Embassy’s recent California Wine Trade Promotion event in Accra, where ten wineries showcased over 100 varieties, marking the first major market entry of California wines into Ghana as part of a broader West African tour. On the domestic front, the cocoa sector—a cornerstone of Ghana’s economy—is facing calls for systemic reform to maintain its global standing. Dr. Wisdom Kofi Dogbey, Managing Director of the Cocoa Marketing Company (CMC), has warned that declining farmer confidence, driven by payment delays and poor communication, poses a risk to production quality and the nation’s reputation. He emphasized that transparency and farmer welfare are critical pillars for the sector's sustainability, especially as global markets demand more ethical sourcing. Simultaneously, Ghana is navigating a critical tomato supply crisis following an export ban by Burkina Faso. With Ghana importing over $400 million worth of tomatoes annually, the World Bank has secured a $20 million grant from the Dutch government to improve storage and production infrastructure, while analysts urge the government to invest heavily in irrigation and processing to achieve self-sufficiency. Technological innovation and local affordability remain central to the national economic discourse. Ghanaian agritech startup 3Farmate is set to revolutionize the farming landscape with its "FAMA" autonomous robot, which uses AI-powered vision to manage up to 35 acres daily. The robot is expected to reduce farming costs by up to 60%, a crucial advancement as citizens continue to call for more affordable "Made-in-Ghana" products. Residents and traders, particularly in Tema, have urged stakeholders to address high production costs driven by inflation and taxes on raw materials. They argue that government incentives and improved logistics infrastructure are essential to making local goods competitive against cheaper foreign alternatives, thereby stimulating industrial growth and job creation across the country.

Falling T-Bill rates drives shift in banking strategy
business|

Ghana’s Economic Recovery Gains Momentum as Bank of Ghana Balances Growth with Stability

Ghana’s economic landscape is showing resilient signs of recovery and strategic transformation, anchored by rising business and consumer confidence. As of February 2026, the Business Confidence Index reached 110.1 and the Consumer Confidence Index rose to 117.7, driven by easing inflation and improved macroeconomic conditions. Central to this recovery is a sophisticated monetary policy balancing act by the Bank of Ghana (BoG). The central bank has reduced its policy rate from 15.5% to 14% to stimulate credit growth while simultaneously withdrawing approximately GH₵17 billion in excess liquidity from the financial system. This dual approach, supported by economic analysts, aims to lower borrowing costs for the private sector while safeguarding the cedi and preventing inflationary pressures from exchange rate volatility. The financial sector is undergoing significant structural shifts and digital modernization to support this new economic environment. While benchmark 90-day Treasury bill rates saw a sharp historical decline from 28% in 2024 to around 6.45% in late 2025, recent auctions have shown a slight retrenchment in investor appetite, with a 25.4% undersubscription and a marginal rise in yields. In the banking sector, the BoG is contemplating a recapitalization deadline extension for a struggling bank to maintain system integrity. Furthermore, comprehensive reforms in the microfinance sector have introduced new minimum capital requirements of up to GH₵100 million for new entrants. On the innovation front, VISAL Reinsurance Brokers celebrated the first anniversary of its 'placeIT' digital platform, which has already generated $3.2 billion in reinsurance capacity, signaling a shift toward tech-driven transparency in the insurance market. Efforts to support the informal economy and enhance social security are also intensifying, as a Ghana Statistical Service (GSS) survey revealed that over 770,000 businesses still operate informally from pavements and roadsides. To address the vulnerabilities of these enterprises, Advans Ghana has introduced the 'Restart Loan' specifically designed for MSMEs hit by climate-related disasters like floods and fires. Simultaneously, the Social Security and National Insurance Trust (SSNIT) is expanding its digital pathways and co-locating with banks to reach the informal sector, which comprises over 80% of the workforce. This push for inclusion is complemented by the Tema Oil Refinery (TOR) being ranked second in the Ministry of Finance’s Public Financial Management (PFM) compliance league, highlighting a growing culture of accountability within state institutions. International partnerships are reinforcing these domestic efforts, highlighted by the recent visit of World Bank Managing Director Paschal Donohoe. The World Bank has committed $300 million to enhance Ghana’s secondary education sector, focusing on job-relevant skills to address youth unemployment and skills mismatches. While geopolitical tensions and fuel price risks remain a concern for the long-term outlook, the synchronized efforts of the Bank of Ghana, private financial institutions, and international partners suggest a deliberate transition toward a more dynamic, private-sector-led economy. The focus moving forward remains on maintaining policy discipline to ensure that the current gains in business confidence translate into sustainable and inclusive national growth.

Global Oil Surge and Middle East Tensions Pressure Ghana’s Economy as Fuel Prices Spike and Stocks Retreat
business|

Global Oil Surge and Middle East Tensions Pressure Ghana’s Economy as Fuel Prices Spike and Stocks Retreat

Escalating geopolitical tensions in the Middle East have pushed Brent crude prices above $100 per barrel, triggering a ripple effect across the Ghanaian economy. The conflict, characterized by U.S. and Israeli actions involving Iran and threats to the strategic Strait of Hormuz, has disrupted global supply routes and introduced significant market volatility. In Ghana, these external shocks are manifesting in a projected 16.93% to 17.21% increase in petrol and diesel prices, respectively. Fitch Solutions has consequently revised Ghana’s 2026 GDP growth forecast downward from 5.9% to 5.5%, citing the impact of rising energy costs and the resulting inflationary pressures, which are now expected to average 7.8%. On the local front, the fuel price surge has ignited a fierce competition between Oil Marketing Companies (OMCs), most notably between state-owned GOIL and Star Oil. This 'price war' comes as regulatory changes have eliminated traditional pricing discounts, forcing companies to adjust rates frequently in response to currency pressures. The Ghana cedi has experienced a recent slide, depreciating by 1.55% against the US dollar to reach GH"11.70 in some retail segments. Analysts attribute this decline to increased demand from importers and the high cost of oil imports. Despite these challenges, Onasis Kobby Rosely, Deputy CEO of the Petroleum Hub Development Corporation, argued that the cedi's relative performance has prevented even steeper fuel hikes, crediting the underlying resilience to prudent long-term economic measures. Financial markets have mirrored this economic anxiety, with the Ghana Stock Exchange (GSE) recording a 'Red Day' post-holiday sell-off. The GSE Composite Index plummeted by 375.03 points to close at 15,316.66, led by sharp declines in the financial sector, including Ecobank Ghana PLC. This downturn aligns with global trends, as major Asian indices like the Nikkei and Kospi saw significant drops of 3.5% and 6.5% respectively. The volatility was further exacerbated by conflicting reports regarding US-Iran negotiations; while a temporary pause in strike threats briefly stabilized prices, subsequent denials from Tehran regarding talks with the Trump administration led to a rapid 4% rebound in crude costs, causing further jitters among international traders. The crisis is felt acutely across the region and the globe, with neighboring Nigeria seeing petrol prices in Lagos exceed 1,000 naira per litre. Even in Europe, Slovenia has become the first EU nation to introduce fuel rationing, limiting motorists to 50 liters per day to combat 'fuel tourism' and supply shortages. For Ghana, the current situation underscores a critical need for enhanced energy security and local refining capabilities to buffer the domestic market against external shocks. As the government explores potential tax reliefs to ease the burden on citizens, the broader economic outlook remains tied to the resolution of Middle Eastern hostilities and the stability of the global energy supply chain.

ECG Announces Sunday Maintenance Shutdown in Tema Amidst Unplanned Outages in Accra and Volta
business|

ECG Announces Sunday Maintenance Shutdown in Tema Amidst Unplanned Outages in Accra and Volta

The Electricity Company of Ghana (ECG) has scheduled a comprehensive maintenance exercise within the Tema Region for Sunday, March 22, 2026, which is expected to affect a wide range of industrial and residential areas. According to official statements from the utility provider, the maintenance window will span six hours, beginning at 9:00 am and concluding by 3:00 pm. This planned shutdown is part of the ECG's ongoing commitment to upgrading its infrastructure to meet the increasing energy demands of the region's diverse consumer base, particularly within its critical industrial sectors. The maintenance exercise in Tema arrives amidst a series of unplanned outages that have recently left parts of the Accra East and Volta Regions in darkness. In Accra East, the disruption has been attributed to a burnt transformer, a critical equipment failure that requires urgent technical intervention to restore service to the affected neighborhoods. Meanwhile, in the Volta Region, the utility company identified a significant cable fault resulting from excavation activities by a road contractor, highlighting the recurring issue of third-party damage to vital utility infrastructure. ECG officials have assured the public that technical teams are working around the clock to resolve the unplanned faults in the affected regions. The company expressed its regret for the inconveniences these outages cause to both domestic and commercial activities, emphasizing that efforts are being doubled to restore power as quickly as possible. For those in the Tema Region, the company advises that all electrical appliances be disconnected during the maintenance period to avoid potential damage from power surges when the supply is eventually restored. As Ghana continues to position itself as a regional industrial leader, the reliability of power remains a cornerstone of economic stability. These maintenance efforts, while disruptive in the short term, are described by the ECG as vital measures to prevent larger, more frequent system failures in the future. The company has promised to keep the public updated on the progress of both the scheduled works and the emergency repairs as they strive to stabilize the national power distribution grid for all consumers.

Ghana Reaffirms US Trade Ties as Local Business Leaders Champion Entrepreneurship and Financial Discipline
business|

Ghana Reaffirms US Trade Ties as Local Business Leaders Champion Entrepreneurship and Financial Discipline

Ghana is significantly bolstering its economic landscape through a dual focus on international trade expansion and the empowerment of domestic entrepreneurs. High-level discussions in Washington D.C. have seen Ghana and the United States reaffirm their commitment to strengthening bilateral relations, particularly through the African Growth and Opportunity Act (AGOA). While the current framework was slated to end in 2024, it has been confirmed that the program will continue for three additional years, ensuring continued duty-free access to the US market for Ghanaian exports, specifically in the textile and agricultural sectors. Foreign Affairs Minister Samuel Okudzeto Ablakwa highlighted that these talks also addressed improving US visa processing for Ghanaians, signaling a broader effort to facilitate smoother cross-border business and travel. On the local front, the entrepreneurial ecosystem is receiving a major boost through initiatives like the Fearless Fund Africa Pitch Competition. Khadija Talalawa, the CEO of The Cheer Natives, recently emerged as the winner of the competition, securing GH"100,000 in funding to scale her business. Her enterprise, which specializes in natural, locally sourced food products, plans to utilize the capital to expand market reach and increase sales capacity. The competition further demonstrated a commitment to broader growth by awarding four other finalists GH"20,000 each, providing critical growth capital for a new generation of Ghanaian business leaders focused on value addition and sustainability. Parallel to these developments, Richard Nii Armah Quaye, President and Founder of RNAQ Holdings, is spearheading a unique movement toward financial empowerment and investment culture. Marking a personal milestone with a significant philanthropic gesture, Quaye distributed gold tablets to 1,000 followers rather than providing traditional cash gifts. This initiative, conducted via live draws in collaboration with the National Lottery Authority (NLA) to ensure transparency, is designed to encourage Ghanaians to hold tangible assets and cultivate a culture of long-term wealth creation. Quaye has expressed intentions to expand this vision beyond his birthday celebrations, suggesting that future giveaways could include high-value items like vehicles and cash to further incentivize financial discipline within the community. Together, these milestones represent a multi-layered approach to Ghana’s economic evolution. The extension of AGOA provides the macro-level stability needed for industrial growth, while targeted funding for SMEs and innovative financial literacy campaigns build the micro-level resilience of the Ghanaian workforce. As the nation navigates its future trade strategy, the synergy between international cooperation and local private-sector leadership will be essential in driving sustainable economic development and wealth creation for both established industries and emerging entrepreneurs.

Major Mining Investments and Regulatory Disputes Shape Ghana’s Local Business Landscape
business|

Major Mining Investments and Regulatory Disputes Shape Ghana’s Local Business Landscape

Ghana’s domestic business sector is witnessing a period of intense activity, marked by massive capital injections in the mining industry and high-stakes regulatory disputes that test the nation’s commitment to indigenous enterprises. While Engineers and Planners (E&P) has signaled robust confidence with a planned $1.2 billion investment in the Tarkwa and Damang mines, McDan Aviation continues to battle a license termination that critics argue could undermine investor confidence. Concurrently, a new financing proposal for GoldBod seeks to shift the burden of commodity finance from the central bank to private domestic lenders, highlighting a broader shift toward localizing economic solutions. Engineers and Planners Co. Ltd. has demonstrated significant operational scaling by dispatching 30 semi-knockdown Caterpillar 785D dump trucks to its newly acquired sites. This move follows the official takeover of operations from Gold Fields and forms part of a long-term strategy that includes a historical $650 million commitment in 2018. The latest $1.2 billion investment is designed to enhance fleet capacity and productivity in the strategic Tarkwa enclave, signaling a continuous influx of capital into Ghana’s mining sector, which benefits from rich mineral resources and a growing emphasis on local industrial leadership. However, the climate for indigenous businesses remains complex, as evidenced by the ongoing standoff between McDan Aviation and the Ghana Airports Company Limited (GACL). The dispute, centered on the termination of McDan’s license at Accra International Airport, has evolved into a national debate over the protection of local investors. Business leaders, including Tsonam Cleanse Akpeloo and IMANI Africa’s Franklin Cudjoe, have characterized the move as potentially damaging to the investment climate, warning it may deter future local and international participation. Traditional authorities and community groups have joined the call for transparency and presidential intervention to safeguard Ghanaian-owned enterprises while the matter remains before the courts. In the financial sector, LVSafrica, led by a prominent banker and former bank CEO, has tabled a proposal to address the liquidity crisis at GoldBod. The plan envisions domestic banks providing cedi liquidity for gold purchases, with GoldBod managing operations and the Bank of Ghana (BoG) overseeing settlements. Despite the promise of reducing the central bank’s direct financing role, analysts like Bright Simons have raised concerns. Critics argue the proposal lacks detailed risk assessments and fails to address underlying systemic issues or the project's continued reliance on BoG's oversight, suggesting the deal requires significant refinement before becoming actionable. Together, these developments represent a critical juncture for Ghana’s economy. The success of E&P’s expansion and the resolution of the McDan and GoldBod situations will serve as a barometer for the country’s business environment. As stakeholders urge for a balance between strict regulatory compliance and the strategic promotion of local industry, the outcomes of these high-profile cases will likely define Ghana’s reputation as a stable and supportive hub for large-scale private enterprise in the coming years.

Ghana’s Agricultural Crossroads: Navigating the Burkina Faso Tomato Ban and Scaling Local Agribusiness Innovations
business|

Ghana’s Agricultural Crossroads: Navigating the Burkina Faso Tomato Ban and Scaling Local Agribusiness Innovations

Ghana’s agricultural sector is facing a critical turning point as regional trade disruptions and local market challenges underscore the urgent need for self-sufficiency and industrial modernization. On March 16, 2026, Burkina Faso announced an immediate nationwide suspension of fresh tomato exports to prioritize its domestic processing factories. The move, which includes a two-week grace period for existing authorizations, has sparked significant concern among Ghanaian traders who rely heavily on Burkinabe imports. Experts, including Dr. Peter Boamah Otokunor, warned that the ban could lead to immediate supply shortages and price hikes, serving as a stark reminder of Ghana's vulnerability to external agricultural policies. Legal practitioner and social commentator Martin Kpebu has characterized the ban as a wake-up call, arguing that Ghana has 'no excuse' for its continued dependency. Kpebu highlighted the irony of Burkina Faso—a country with significantly less arable land—successfully feeding its neighbors while Ghana’s fertile soil remains underutilized. He urged the government to aggressively pursue its 'Feed Ghana' and 'Feed the Industry' initiatives to bridge the production gap. This sentiment was echoed during discussions regarding the nation’s agribusiness strategy, where stakeholders emphasized that diplomatic engagement with Burkina Faso must be paired with a long-term commitment to enhancing local cultivation and processing capabilities. Amidst these trade challenges, the Ghana AgroTech Fair 2026 showcased the potential of youth-led innovation to transform the sector. A standout story featured Elisha Kofi Foli, a young entrepreneur and person living with a disability, whose company, MyCocoStuff Ghana, converts coconut waste into biodegradable products like bowls and spoons. Despite facing significant hurdles in securing machinery and market acceptance, Foli’s work exemplifies the intersection of environmental sustainability and economic growth. Stakeholders at the fair called for robust policy reforms and increased financial support to help such local innovators scale their operations and integrate technology into the broader agricultural value chain. However, increasing production alone is not a panacea, as evidenced by the current crisis in Ketu North. Municipal Chief Executive Martin Amenaki recently raised alarms over a paradox where local rice farmers are achieving record-breaking yields but are unable to find buyers, leading to massive unsold stocks. As one of the top rice-producing hubs in the Volta Region, Ketu North’s struggle points to a desperate need for better market access, improved irrigation facilities, and stronger agricultural infrastructure. Amenaki’s call for urgent investment highlights a systemic gap: while production is growing, the supply chain remains fractured, preventing farmers from fully capitalizing on their output. The convergence of the tomato import ban, the rise of sustainable AgroTech startups, and the rice market crisis in Ketu North underscores a complex landscape for Ghanaian agribusiness. Moving forward, the government and private sector must align to provide not only the inputs for farming but also the infrastructure for processing and the market pathways for distribution. By supporting innovators like Foli and resolving the bottlenecks faced by rice farmers, Ghana can transition from a net importer of staples to a resilient, self-sustaining agricultural powerhouse.

Ghana’s Petroleum Sector Faces Imminent Price Hikes Amid Policy Debates and Improved Corporate Governance
business|

Ghana’s Petroleum Sector Faces Imminent Price Hikes Amid Policy Debates and Improved Corporate Governance

Ghanaian consumers are bracing for another significant increase in fuel costs as petrol and diesel prices are projected to rise by 15% starting April 1, 2026. This forecast comes at a critical time when the nation’s downstream petroleum sector is already grappling with the fallout from previous price spikes and an ongoing debate over regulatory price floors. While the market faces external pressures from global oil trends, there are signs of internal improvement in corporate governance, highlighted by the recent high performance of the Tema Oil Refinery (TOR) in national financial management rankings. According to the Centre for Environmental Management and Sustainable Energy (CEMSE), the anticipated 15% hike is driven by a combination of rising international crude oil prices and a slight depreciation of the Ghanaian cedi against the US dollar. Benjamin Nsiah, Executive Director of CEMSE, noted that this follows a particularly volatile period where petrol and diesel prices recently surged by approximately 26% and 27%, respectively. The ripple effects of these increases are expected to hit urban centers the hardest, driving up transportation expenses and inflating the general cost of living for businesses and households alike. Parallel to these price fluctuations is an intensifying debate regarding the National Petroleum Authority’s (NPA) petroleum price floor policy. While the NPA intended the policy to stabilize the market and protect smaller indigenous oil companies from being squeezed out, critics argue that the move contradicts Ghana’s deregulation principles. Experts suggest that by imposing a minimum price, the policy may be protecting inefficient firms and preventing consumers from benefiting from competitive market rates. Instead of rigid price controls, policy analysts recommend strengthening competition laws to foster a more transparent and efficient market that aligns with global standards. Amidst these economic challenges, the Tema Oil Refinery (TOR) has provided a silver lining by demonstrating improved institutional accountability. On March 19, 2026, the Ministry of Finance released its Public Financial Management (PFM) Compliance League Table, ranking TOR as the second-best institution in the country for fiscal discipline. Outperformed only by the Environmental Protection Agency (EPA), TOR’s high ranking reflects a commitment to sound financial practices and transparency. As Ghana navigates the complexities of global oil volatility and domestic policy reforms, the sector's long-term sustainability will likely depend on balancing such institutional efficiency with market-driven strategies that protect the consumer's interests.

Ghana Business Update: Energy Commission Sets EV Standards, Global Pharma Deals Surge, and Legal Accountability Hits Corporate Fraud
business|

Ghana Business Update: Energy Commission Sets EV Standards, Global Pharma Deals Surge, and Legal Accountability Hits Corporate Fraud

The Ghanaian business and regulatory landscape has seen significant activity this week, ranging from new energy mandates to high-stakes international acquisitions and landmark legal rulings. At the forefront, the Energy Commission of Ghana has issued a directive urging individuals and businesses to register their Electric Vehicles (EVs) as part of a broader strategy to enhance safety and stabilize the national electricity grid. This initiative, developed in collaboration with the Ghana Standards Authority, introduces draft regulations for both home and workplace charging infrastructure. Madam Joyce Caitlyn Ocansey emphasized that these standards are vital to mitigating safety risks, while the government remains committed to establishing 1,000 charging stations across the country by 2028 to support the growing green economy. In the global pharmaceutical sector, Swiss drugmaker Novartis has announced a massive deal to acquire the experimental breast cancer drug candidate SNV4818 from the U.S.-based biotech firm Synnovation Therapeutics. Valued at up to $3 billion, the agreement includes a $2 billion upfront payment and $1 billion contingent on development milestones. This acquisition focuses on a selective PI3K̑ inhibitor designed to treat HR-positive/HER2-negative breast cancer with fewer side effects than traditional therapies. Novartis expects to finalize the transaction in the first half of this year, marking a significant investment in the future of oncology and medical innovation. On the legal and corporate front, a 38-year-old businessman, Alhaji Fareed Amin Yakubu, has been sentenced in absentia to 10 years in prison for a high-profile fraud case. Presided over by Justice Bright Samuel Acquah, the court found Yakubu guilty of defrauding a victim of GH"3 million under the pretense of an oil business investment and issuing false cheques. This ruling underscores a firm judicial stance against financial malpractice in the business sector. Simultaneously, in the entertainment and media industry, Adam Ro Music Ltd has announced the cancellation of its planned business travel to the United Arab Emirates. The company cited regional security concerns and airspace disruptions as the primary factors for the decision, though assignments in China, Singapore, and India will proceed as scheduled to meet strategic objectives. These developments collectively highlight a period of transition and rigorous oversight within the business community. From the implementation of modern energy regulations to the multi-billion dollar expansion of pharmaceutical pipelines and the enforcement of financial integrity, the current environment reflects a focus on safety, sustainability, and accountability. As the Energy Commission moves toward presenting its EV regulations to Parliament and global firms navigate geopolitical shifts, the emphasis remains on balancing innovation with structured growth and risk management.