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AGI Urges Shift to Non-Traditional Exports to Shield Ghana from Global Market Volatility
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AGI Urges Shift to Non-Traditional Exports to Shield Ghana from Global Market Volatility

Kofi Nsiah-Poku, President of the Association of Ghana Industries (AGI), has issued a strong call to the Ghanaian government to accelerate export diversification strategies. This move is aimed at insulating the national economy from global price shocks and fostering sustainable industrial growth. Currently, Ghana relies heavily on three primary commodities—gold, crude oil, and cocoa—which together constitute approximately 80% of the country's total export earnings. This heavy concentration makes the national economy exceptionally vulnerable to the inherent fluctuations of the international market, necessitating a broader trade portfolio to ensure long-term stability. To mitigate this vulnerability, the AGI proposes a significant shift toward non-traditional exports. Specifically, Nsiah-Poku highlighted the immense potential of sectors such as cashew, coconut, and natural rubber. A critical component of this strategy involves shifting away from the export of raw materials toward local value addition. By processing commodities like cocoa and cashew within Ghana, the nation can significantly increase its revenue margins and create much-needed employment opportunities for the youth, effectively turning raw resources into finished industrial goods. Beyond boosting exports, the AGI President advocated for strategic import restrictions and policy reforms to protect local industries and stabilize the national currency. He suggested that products Ghana is capable of manufacturing domestically, such as fruit juices, should face import limits to encourage local production. Furthermore, adjusting policies on rice imports was identified as a vital step to conserve foreign exchange reserves and support local agriculture, which would ultimately help strengthen the cedi against major international currencies. The AGI reaffirmed its commitment to partnering with the government to drive the industrialization agenda. By focusing on manufacturing and value-added exports, Ghana can build a more resilient economic framework that is less susceptible to the volatility of international commodity markets. These reforms are seen as essential for long-term economic stability and the creation of a robust industrial base that supports the next generation of Ghanaian entrepreneurs and workers.

Vice President Opoku-Agyemang Urges Economic Patriotism Through Local Chocolate Consumption on National Chocolate Day
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Vice President Opoku-Agyemang Urges Economic Patriotism Through Local Chocolate Consumption on National Chocolate Day

Vice President Prof. Naana Jane Opoku-Agyemang has called on Ghanaians to transform Valentine’s Day into a celebration of economic patriotism by prioritizing locally manufactured chocolates over imported confectionery. Speaking on February 14, 2026, which also marks Ghana’s National Chocolate Day, the Vice President emphasized the need to align the celebration of love with a commitment to national development. This initiative seeks to leverage Ghana's position as the world's second-largest cocoa producer to drive industrial growth and support the domestic economy through conscious consumer choices. The "Choose Ghana" campaign, which has seen significant momentum throughout 2026, serves as the backdrop for this call to action. Prof. Opoku-Agyemang highlighted that by choosing indigenous brands such as Fairafric, Niche, and Cocobytes, consumers are doing more than just sharing gifts; they are actively bolstering the domestic cocoa value chain. She noted that supporting local entrepreneurship is essential for ensuring that more of the wealth generated from cocoa remains within the country, fostering job creation and innovation within the agricultural and manufacturing sectors. This shift in consumer behavior is presented as a vital step in honoring Ghana's esteemed cocoa heritage and empowering local processors. Beyond the immediate festivities, the Vice President’s message underscores a broader strategic shift toward value addition in Ghana's cocoa sector. Traditionally a bulk exporter of raw beans, Ghana is increasingly moving toward processing and the production of finished goods to capture more value from the global market. By encouraging "economic patriotism" during high-consumption periods like Valentine's Day, the government aims to instill a long-term preference for Ghanaian-made products. This cultural shift is seen as a critical component of building a more resilient, self-reliant economy that celebrates both national pride and industrial excellence.

Motorists Brace for Higher Costs as Fuel Prices Set to Rise on February 16
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Motorists Brace for Higher Costs as Fuel Prices Set to Rise on February 16

Motorists and consumers across Ghana are preparing for a significant uptick in fuel costs at the pumps, following a new projection by the Chamber of Petroleum Consumers (COPEC). Starting Monday, February 16, 2026, prices for petrol, diesel, and Liquefied Petroleum Gas (LPG) are expected to rise across various retail outlets. This adjustment is driven by a dual pressure of a depreciating Cedi and tightening global market conditions for refined petroleum products, marking another period of volatility for the local energy sector. According to detailed projections from COPEC, petrol prices are estimated to increase by approximately 1.97%, while diesel prices are set to see a sharper rise of 2.73%. However, the most significant burden will be felt by consumers of LPG, which is projected to jump by 3.26%. Duncan Amoah, the Executive Secretary of COPEC, highlighted that these shifts are largely a reaction to international market dynamics, where refined product prices have surged between 4% and 6% in the recent pricing window. This international surge directly influences the landed cost of products within the Ghanaian market. The volatility is further compounded by the continuous decline in the value of the Ghana Cedi against the US Dollar. Since bulk oil distributors must procure products using foreign currency, the local currency's depreciation remains a primary driver for domestic price adjustments. Despite these upward pressures, Amoah noted that the full weight of international price hikes might not be immediately felt by the end-user. Intense competition among the country's various Oil Marketing Companies (OMCs) and the strategic management of existing stock levels may encourage some retailers to absorb a portion of the costs to maintain their market share. As the mid-February pricing window opens, the anticipated hike is expected to have ripple effects throughout the Ghanaian economy, potentially influencing transport fares and the cost of essential goods. Bulk distributors and retailers are already factoring in these projected increases as they restock for the second half of the month. COPEC continues to monitor the situation closely, advising the public to prepare for the adjustments while suggesting that internal market dynamics and competitive pricing may provide a slight cushion against the full impact of global price surges.

Ghana’s Cocoa Crisis "Self-Inflicted": MP Critiques Missed Forward Sales and Strategic Management Failures
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Ghana’s Cocoa Crisis "Self-Inflicted": MP Critiques Missed Forward Sales and Strategic Management Failures

The Member of Parliament for Oforikrom, Michael Kwasi Aidoo, has raised alarms over the current state of Ghana’s cocoa industry, describing the sector's mounting challenges as "self-inflicted." Speaking on JoyNews, Aidoo argued that the difficulties facing the industry are not merely the result of global market volatility but are rooted in a series of missed opportunities and poor policy decisions. He criticized authorities for failing to capitalize on a period of unprecedented highs in global cocoa prices between 2023 and early 2025, suggesting that a lack of strategic foresight has left the nation’s primary export crop vulnerable to sudden market downturns. At the heart of the critique is the government’s failure to secure favorable prices through forward sales contracts when market rates were at their peak. Aidoo pointed out that despite cocoa prices reaching record highs of approximately $10,000 per metric tonne, Ghana only managed to sell about 82% of its beans during that period. This left an estimated 50,000 to 70,000 tonnes of cocoa unsold when the market eventually corrected, leading to significant financial losses. The MP emphasized that had authorities acted decisively to lock in these historic export prices, the industry would be in a much stronger fiscal position today. Beyond trading strategies, Aidoo highlighted how operational transparency and regional production trends have exacerbated the crisis. He noted that early public announcements regarding domestic price hikes inadvertently disrupted delivery schedules, creating friction within the supply chain. Furthermore, as production expectations in both Ghana and the Ivory Coast began to rise, the resulting increase in global supply contributed to the sharp drop in prices. According to Aidoo, these factors combined to create a "perfect storm" that could have been mitigated with more sophisticated market analysis and better-timed interventions. The implications of these management failures extend far beyond the balance sheets of the Ghana Cocoa Board (COCOBOD). With over 800,000 farming households depending on cocoa for their livelihoods, the current instability threatens the economic backbone of rural Ghana and the country's overall export earnings. Aidoo’s remarks serve as a critical call for a fundamental shift in how the cocoa sector is managed, advocating for improved forward-planning and more robust trading mechanisms to safeguard the industry against future price volatility and ensure the long-term sustainability of Ghana's cocoa economy.

Keta Businesses Set for Revenue Boost as Valentine’s Day Preparations Hit High Gear
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Keta Businesses Set for Revenue Boost as Valentine’s Day Preparations Hit High Gear

Businesses in the Keta Municipality of the Volta Region are gearing up for a significant economic windfall as Valentine’s Day approaches. Local entrepreneurs and service providers have reported a noticeable uptick in commercial activity, with expectations of a major revenue surge during the festive period. This anticipation is fueled by a collective effort across various sectors to capitalize on the season of love, transforming the municipality into a hub of commercial and social engagement. Retailers in Keta have been at the forefront of this trend, stocking up on seasonal favorites such as chocolates, flowers, and red-themed apparel. Madam Regina Deladem Ametsime, a local boutique owner, highlighted that businesses are not just selling goods but are curating experiences. Restaurants and hospitality services are rolling out specialized packages designed to attract both local couples and visitors. These offerings often include discounted meals and tailored entertainment options, creating a competitive yet vibrant market environment within the municipality. The economic impact extends beyond traditional retail, benefiting a wide array of Small and Medium-sized Enterprises (SMEs). Graphic designers, bakers, and photographers are reporting increased patronage as individuals and organizations seek custom gifts and professional services to commemorate the day. Furthermore, Keta's natural landmarks, particularly the Keta Lagoon, are expected to serve as major attractions for tourists and revelers. This influx of visitors is projected to provide a significant boost to the local economy, supporting vendors and service providers who are organizing various entertainment events scheduled for February 14. This surge in activity underscores the resilience and creativity of local entrepreneurs in Keta. By leveraging the cultural significance of Valentine’s Day, these businesses are not only boosting their individual bottom lines but are also contributing to the broader economic vitality of the Volta Region. As preparations reach their peak, the optimism among the business community remains high, signaling a successful start to the year's festive calendar for the municipality.

Ghana’s Business Outlook 2026: Hospitality Sector Faces Utility Crisis While Aviation and Agribusiness Eye Expansion
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Ghana’s Business Outlook 2026: Hospitality Sector Faces Utility Crisis While Aviation and Agribusiness Eye Expansion

The Ghanaian business landscape in early 2026 is navigating a complex mix of operational hurdles and strategic growth opportunities. While the hospitality industry is sounding alarms over rising costs, the aviation and agribusiness sectors are positioning themselves for international expansion and infrastructure modernization. These developments highlight a critical juncture for the national economy, where the ease of doing business remains a primary concern for local operators even as the country seeks to strengthen its position as a regional hub for trade and tourism. At the forefront of domestic challenges, the Ghana Progressive Hotels Association (GHAPROHA) has expressed grave concerns regarding escalating utility tariffs and inconsistent service delivery. During the association’s first meeting of 2026, President Emmanuel Geadda Asando urged the Public Utilities Regulatory Commission (PURC) to intervene with the Electricity Company of Ghana (ECG) and the Ghana Water Company. Highlighting a particular crisis in the Tema Metropolis, Asando noted that hoteliers are being forced to rely on expensive water tankers and private generators to maintain operations. Despite the government's removal of the COVID-19 Levy, the association criticized the persistent burden of additional state levies, warning that high operational costs could deter investment and stifle the tourism sector. In contrast to the struggles in hospitality, the aviation sector is moving forward with ambitious plans to enhance connectivity and infrastructure. At the 5th AviationGhana Breakfast Meeting held in February 2026, stakeholders emphasized the importance of aligning national policies with ECOWAS directives to boost regional competitiveness. Yvonne Nana Afriyiye Opare detailed upcoming infrastructure upgrades at Kotoka International Airport, including a new concourse designed to improve travel efficiency. Kamil Al-Awadhi from the International Air Transport Association (IATA) underscored that sustainable growth in the sector depends on a unified regulatory approach that fosters a more conducive environment for airlines and travel consultants. Parallel to these infrastructure efforts, the agribusiness sector is preparing to scale its international footprint through the second Canada-Africa Agribusiness Summit (CAAS), scheduled for July 15–16, 2026, in Saskatoon. This summit aims to bridge trade gaps between Canadian and African markets, aligning with the African Continental Free Trade Area (AfCFTA) framework. With over 500 participants expected, the event will focus on sustainable food systems and investment partnerships. As Ghana seeks to balance the high cost of local operations with these global trade opportunities, the coming months will be pivotal in determining whether policy interventions can alleviate the pressures on domestic businesses while sustaining the momentum in aviation and international trade.

Ghana’s 2025 Economic Performance: Record Gold Output and SIC Insurance’s GH¢107.6m Claims Payout
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Ghana’s 2025 Economic Performance: Record Gold Output and SIC Insurance’s GH¢107.6m Claims Payout

Ghana’s business landscape witnessed significant milestones in 2025, marked by record-breaking gold production and a demonstration of financial resilience within the insurance sector. The nation achieved a historic gold output of 6 million ounces, while SIC Insurance PLC, the country’s leading non-life insurer, disbursed GH¢107.6 million in claims. These developments reflect a period of robust operational growth across the extractives and financial services industries, even as stakeholders navigate emerging fiscal reforms and low market penetration challenges. In the mining sector, the record 6 million ounces of gold was driven by a surge in artisanal and small-scale mining (ASM), which contributed 3.1 million ounces, slightly edging out the 2.9 million ounces produced by large-scale mines. According to the Ghana Chamber of Mines, this performance was bolstered by high bullion prices and recent regulatory reforms that encouraged official sales. However, the industry remains cautious about 2026. Kenneth Ashigbey, CEO of the Chamber of Mines, expressed concern that a proposed sliding-scale royalty system could increase the financial burden on mining firms, potentially putting the 2026 target of 6.5 million ounces at risk. Simultaneously, the financial sector saw SIC Insurance PLC reinforce its market leadership by meeting significant policyholder obligations. Managing Director James Agyenim-Boateng attributed the GH¢107.6 million payout to the company’s strong liquidity and robust reinsurance arrangements. Beyond claims, the insurer’s financial health was reflected in the stock market, where its share price surged by 344% to close the year at GH¢1.20. Following this performance, the company approved dividend payouts during its 18th Annual General Meeting, signaling confidence to its shareholders. Looking ahead, both sectors are focusing on sustainability and expansion. While the mining industry calls for fiscal stability to protect future projects, SIC Insurance is turning to digital transformation to address Ghana’s low insurance penetration, which remains below 2%. By prioritizing dependable service and modernizing operations, the insurer aims to expand the safety net for Ghanaian businesses and individuals. Collectively, these narratives portray a Ghanaian economy that is scaling new heights while proactively preparing for the regulatory and structural shifts of 2026.

Osei Kwame Despite Dismisses Social Media Rumors Linking Him to KIA Cocaine Bust
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Osei Kwame Despite Dismisses Social Media Rumors Linking Him to KIA Cocaine Bust

Renowned Ghanaian businessman Osei Kwame Despite has officially addressed and dismissed viral social media rumors linking him to a recent drug trafficking bust conducted by the Narcotics Control Commission (NACOC) at Kotoka International Airport (KIA). The speculation, which gained significant traction on digital platforms on February 12, 2026, suggested that the Despite Group chairman was the unnamed high-profile figure behind a popular food brand reportedly involved in a cocaine smuggling attempt. However, both the businessman and law enforcement authorities have since moved to clarify the situation, putting an end to the unfounded allegations that had briefly dominated online discourse. The rumors began circulating following reports that a manager of a well-known Ghanaian packaged food brand had been remanded after being intercepted by NACOC officials at the airport. Due to the vague description of the 'popular brand' in initial reports, social media users began speculating on various business moguls, eventually pointing toward Osei Kwame Despite. In a lighthearted and indirect response captured in a social media video, Despite was seen attending a funeral where he humorously addressed the claims. 'I've been arrested and you didn't tell me,' he remarked to those around him, signaling that he was going about his normal business completely unaware of the supposed legal troubles. Further solidifying the businessman's stance, the Narcotics Control Commission (NACOC) provided official clarification regarding the identity of the suspects. The Deputy Director-General of NACOC stated that the individuals currently in custody for the cocaine bust are not connected to the established food brands that had been inaccurately implicated by the public. This intervention by the Commission was crucial in de-escalating the misinformation that threatened the reputation of several Ghanaian businesses. The incident underscores the speed at which misinformation can spread in the digital era, often unfairly targeting prominent figures before official facts are fully established by the relevant authorities.

Finance Minister Dr. Cassiel Ato Forson
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Ghana Reduces Cocoa Farmgate Price by 28% as Government Absorbs $150 Million in COCOBOD Losses

The Government of Ghana has announced a 28% reduction in the cocoa farmgate price, marking the first such decrease since 2020. This decision comes in response to a significant decline in global cocoa prices and the accumulation of outstanding payment arrears to farmers. To mitigate the impact of this shift and address liquidity challenges within the Ghana Cocoa Board (COCOBOD), the Cabinet has directed the immediate purchase of cocoa beans and the urgent settlement of debts owed to farmers to restore confidence in the sector. Under the new directive, the government has committed to absorbing approximately $150 million (roughly GHS 1.6 billion) in losses expected by COCOBOD. This fiscal intervention specifically covers 50,000 metric tonnes of cocoa beans that were already supplied at the previous, higher rate of over $5,200 per tonne. Deputy Finance Minister Thomas Ampem Nyarko confirmed that despite the new lower farmgate rate, farmers who have already supplied beans will be paid at the previously agreed-upon price, representing a substantial state commitment to maintaining stability within the agricultural sector. Finance Minister Cassiel Ato Forson has further reassured stakeholders that these measures are part of a broader suite of ongoing reforms aimed at safeguarding farmers' interests and ensuring the long-term sustainability of the cocoa industry. During government briefings, officials emphasized that the administration is tackling structural challenges through revised producer prices, improved financing models, and a renewed focus on local value addition and enhanced processing. These initiatives are designed to improve returns for rural cocoa farmers, who remain a cornerstone of Ghana’s export earnings and rural livelihoods. While the specific funding sources for these payments have raised questions given COCOBOD’s current liquidity constraints, the government’s decision to absorb massive losses reflects the strategic priority placed on the cocoa value chain. As Ghana navigates volatile global market conditions, the focus remains on balancing fiscal responsibility with the necessity of protecting the economic backbone of the country. The success of these reforms will depend on the government's ability to implement structural changes that shield farmers from future global price shocks while maintaining the industry's competitiveness.

UniMAC Reforms Internship and Employability Framework to Enhance Student Career Readiness
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UniMAC Reforms Internship and Employability Framework to Enhance Student Career Readiness

The University of Media, Arts and Communication (UniMAC) has launched a strategic initiative to overhaul its internship and employability structures. Led by the External Affairs Office, this reform aims to bridge the gap between academic learning and professional practice. Following a high-level strategic meeting with the university's Internship Coordinator, Ms. Benedicta Nyame, the institution is prioritizing the alignment of student programs with a newly established Industrial Attachment Policy. This move is designed to ensure that graduates are better prepared for the evolving demands of the Ghanaian job market, providing a more seamless transition from the classroom to the boardroom. Central to these reforms is the work of the Internship and Employability Committee, which is tasked with streamlining the coordination of student placements across various industries. During recent deliberations, Ms. Nyame emphasized the critical need for a deeper institutional understanding of the university’s policy framework. By standardizing the internship process, UniMAC seeks to move away from ad-hoc arrangements and toward a more structured system that benefits both students and partner organizations. This includes a strategic push to compile a comprehensive database of credible organizations that offer high-quality, structured internship experiences, ensuring that students gain relevant, hands-on skills during their placements. This move comes at a time when graduate employability remains a significant concern for higher education institutions and the business community in Ghana. By formalizing its industrial attachment processes, UniMAC is positioning itself as a proactive leader in career development and industry partnership. The initiative is expected to provide students with more reliable pathways to professional experience while ensuring that external partners can engage with a talent pool that is prepared to contribute meaningfully to their operations. As the External Affairs Office continues to implement these reforms, the focus will remain on expanding corporate partnerships and fostering a culture of career readiness throughout the university community.

GUTA Reaffirms Opposition to Marine Cargo Act, Citing Lack of Consent and Competitive Concerns
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GUTA Reaffirms Opposition to Marine Cargo Act, Citing Lack of Consent and Competitive Concerns

The Ghana Union of Traders’ Associations (GUTA) has reiterated its firm opposition to the Marine Cargo Act, which mandates that importers secure local insurance for their goods. Former GUTA President Joseph Obeng has clarified that the association never officially consented to the implementation of this legislation, pointing to significant unresolved issues that continue to burden the business community. While the policy is strategically intended to strengthen Ghana's local insurance sector by retaining capital within the country, trade leaders argue that the mandatory nature of the law overrides the fundamental principles of a free and competitive market. Obeng’s objections center on the imposition of insurance services on businesses without their agreement or adequate consultation. He contends that rather than relying on legislative mandates to secure patronage, local insurers should focus on enhancing their service delivery and pricing structures to become naturally competitive against international alternatives. The former GUTA president also expressed frustration over the enforcement of penalties for non-compliance, viewing them as an unnecessary financial strain on importers. He emphasized that the policy, as it stands, forces businesses to utilize specific local services regardless of whether those services offer the best value or comprehensive coverage for their cargo. The standoff highlights a persistent gap in communication between government authorities and key stakeholders in the trade sector. For GUTA to endorse the Act, Obeng insists on a more comprehensive engagement process that genuinely addresses the specific grievances and operational realities of importers. Until these structural concerns are resolved, the association maintains that the Act remains an unwelcome imposition on the trading community. This conflict reflects a broader challenge within the Ghanaian economy: finding the right balance between protective legislation designed to grow local industries and the operational freedom required by the private sector to thrive.

Ghana's 2026 Business Outlook: GRA Sets New VAT Standards as GoldBod Tightens Industry Compliance
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Ghana's 2026 Business Outlook: GRA Sets New VAT Standards as GoldBod Tightens Industry Compliance

Ghana's business landscape is set for significant regulatory shifts in early 2026 as state agencies move to tighten fiscal oversight and industry compliance. The Ghana Revenue Authority (GRA) and the Ghana Gold Board (GoldBod) have announced major updates concerning Value Added Tax (VAT) implementation and gold sector operational standards. These developments signify a concerted effort by the government to streamline revenue collection and ensure that key industries adhere to the legal frameworks governing their operations. Starting January 1, 2026, a new 20% VAT rate will come into effect, as clarified by the GRA. This revised rate integrates a 15% standard VAT with a 2.5% National Health Insurance Levy (NHIL) and a 2.5% Education Trust Fund (GETFund) Levy. Commissioner-General Anthony Sarpong highlighted that this restructuring is designed to simplify the tax system and addresses the previous cascading tax issue by allowing businesses to claim input tax credits on these levies. To further support small enterprises, the VAT registration threshold will be significantly raised from GH₵200,000 to GH₵750,000, reducing the administrative burden on smaller businesses. Simultaneously, the gold industry is facing increased scrutiny under the Ghana Gold Board Act, 2025. GoldBod has officially summoned six licensed gold service providers to its Accra head office for a mandatory compliance assessment scheduled for February 12, 2026. This exercise, mandated under section 43 of the Act, is a routine but critical measure to verify that trading entities are following financial and operational regulations. The Board has underscored that these checks are vital for enforcing transparency and accountability, part of a broader national strategy to formalize the gold industry and eliminate illicit practices. These dual initiatives represent a push toward meeting ambitious national revenue targets and enhancing the integrity of Ghana's primary commodities market. While the GRA focuses on implementing more efficient invoicing systems and broadening the tax base through compliance, GoldBod is ensuring that the lucrative gold sector operates within a clear, regulated framework. For businesses operating in Ghana, 2026 will be a year defined by adaptation to these new standards, which aim to create a more predictable and transparent environment for both local and international investors.