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.

Ghana Revenue Authority Increases VAT Registration Threshold to Support Small Businesses
business|

Ghana Revenue Authority Increases VAT Registration Threshold to Support Small Businesses

The Ghana Revenue Authority (GRA) has announced a significant increase in the Value Added Tax (VAT) registration threshold, raising it from GH¢200,000 to GH¢750,000 per annum. This adjustment aims to alleviate the compliance burden on micro and small businesses operating in the informal sector. GRA's Chief Revenue Officer, David Lartey Quarcoopome, stated that the previous threshold had remained unchanged since 2013 and was no longer reflective of current economic conditions. As a result of this change, businesses that fall below the new threshold will be deregistered from VAT and transitioned to the Modified Tax Scheme (MTS), which offers simpler compliance options. Notably, over 90% of VAT revenue is generated from larger businesses, suggesting that this move will not significantly impact overall tax revenue while enhancing efficiency for smaller enterprises. Under the MTS, small businesses can select from various payment options, including fixed quarterly payments, a 3% turnover tax, or a simplified graduated tax, thereby facilitating easier compliance with tax obligations.

Ghana Secures $134 Million for Cocoa Sector Stability Amid Liquidity Challenges
business|

Ghana Secures $134 Million for Cocoa Sector Stability Amid Liquidity Challenges

Ghana's cocoa sector has received a significant boost with a $134 million risk-sharing agreement between Access Bank Ghana PLC and the International Finance Corporation (IFC), aimed at alleviating liquidity issues faced by Licensed Buying Companies (LBCs). Signed on January 23, 2026, this initiative is crucial for ensuring the stability of the cocoa supply chain, particularly during the 2025/2026 crop season. The Second Deputy Governor of the Bank of Ghana, Mrs. Matilda Asante-Asiedu, emphasized the importance of LBCs for rural economies and national currency stability, noting that this funding supports not only commercial objectives but also broader economic priorities. The agreement allows the IFC to absorb up to 50% of the risk on loans to eligible LBCs, enabling Access Bank to offer more competitive lending rates. This collaboration marks a significant shift from traditional state-led financing to a more private sector-driven approach, aligning with Ghana's goals of economic diversification. The initiative is expected to enhance the cocoa value chain and facilitate prompt payments to smallholder farmers, thereby supporting livelihoods and strengthening export earnings. Additionally, it coincides with improved economic indicators, including a January 2026 inflation rate of 5.4%, reflecting a recovery and renewed confidence in Ghana’s economy.

Senyo Hosi Addresses Misunderstandings in Ghana's Fuel Price Regulation Debate
business|

Senyo Hosi Addresses Misunderstandings in Ghana's Fuel Price Regulation Debate

Financial analyst Senyo Hosi has clarified the ongoing controversy surrounding Star Oil CEO Philip Tieku's remarks on Ghana's fuel pricing regulations. The debate centers on the National Petroleum Authority's (NPA) Petroleum Price Floor Programme, which sets minimum retail prices bi-weekly, limiting companies' ability to adjust prices in response to currency fluctuations. Hosi emphasized that Tieku's comments were misinterpreted; he was not advocating for the dismantling of regulatory frameworks but rather calling for a more flexible pricing mechanism that could benefit consumers by allowing for adjustments based on favorable exchange rates. The situation escalated after Star Oil suspended its membership in the Chamber of Oil Marketing Companies (COMAC), citing a lack of fair representation. This suspension has intensified discussions about the effectiveness of current regulations, with critics arguing that the rigid pricing structure may inadvertently harm consumers during economic recovery. Hosi defended Star Oil's compliance with pricing regulations, highlighting the tension between necessary regulation and the need for responsive pricing strategies in the petroleum sector.

Government Interventions Drive Agricultural Growth in Upper East Region
business|

Government Interventions Drive Agricultural Growth in Upper East Region

The Upper East Region of Ghana has experienced notable advancements in agricultural productivity, attributed to various government interventions over the past year. According to Regional Minister Donatus Atanga Akamugri, cultivated land has increased by 5%, while maize and rice production has risen by 4%. A key initiative, the Feed Ghana Programme, has played a significant role by expanding farmer registration and distributing over 19,000 bags of fertilizer to enhance crop yields. Additionally, livestock production has surged by 8%, supported by extensive training programs aimed at empowering young farmers. To further boost agricultural efficiency, the government has secured a partnership with LOVOL for the provision of modern farming equipment. Infrastructure projects are also in progress, including the establishment of a rice processing factory and initiatives for cage fishing. Furthermore, the identification of 24,475 acres of irrigable land is set to promote continuous farming and bolster food security, aligning with the government's broader economic policies. These efforts underscore a commitment to enhancing agricultural productivity and empowering farmers in the region.

Impact of Smartphone Photography on Professional Photographers at Kintampo Falls
business|

Impact of Smartphone Photography on Professional Photographers at Kintampo Falls

Professional photographers at Kintampo Falls in Ghana are facing significant income declines as tourists increasingly opt for smartphone photography over professional services. Local photographer Amos Liwabi reported a drastic drop in his earnings from GH¢1,500 per week to much lower figures due to this trend. Despite the availability of premium experiences, such as canopy walks, visitors now prefer capturing their memories with personal devices rather than hiring professionals. Tour guide Emmanuel Asare Frimpong emphasized the economic importance of Kintampo Falls, particularly during peak tourist seasons, as local traders benefit from the influx of visitors. The falls are not only a scenic attraction but are also perceived to possess healing powers, further enhancing their appeal to tourists. This shift in photography preferences is raising concerns about the sustainability of livelihoods for local photographers in the region.

Agriculture Director Urges Coconut Farmers to Implement Fire Safety Measures as Harmattan Approaches
business|

Agriculture Director Urges Coconut Farmers to Implement Fire Safety Measures as Harmattan Approaches

Gifty Fremah Appiah, the Municipal Director of Agriculture for Noranza South, has called on coconut farmers to establish fire belts to safeguard their crops as the harmattan season approaches. This advice is part of a government initiative aimed at enhancing coconut production and agribusiness in Ghana, which includes the distribution of free coconut seedlings under the "Presidential Initiatives in Agriculture and Agribusiness (PIAA)" program initiated by former President John Mahama. Funded by the Ghana Exim Bank, the initiative seeks to boost the economic potential of coconut farming and increase export opportunities. Appiah emphasized the importance of farm maintenance practices such as mulching and composting to prevent fire outbreaks and ensure healthy crop growth. Agriculture Extension Agent Joseph Adu-Parko supported her recommendations, highlighting that neglecting regular weeding and maintenance could lead to significant damage to seedlings. The program has also successfully engaged local youth, creating job opportunities in the coconut farming sector.

Ghana Ensures Secure Investment Climate for Foreign Investors, Says GIPC CEO
business|

Ghana Ensures Secure Investment Climate for Foreign Investors, Says GIPC CEO

Simon Madjie, the CEO of the Ghana Investment Promotion Centre (GIPC), has reassured foreign investors of a secure and non-discriminatory investment environment in Ghana. During a meeting with Japan’s State Minister for Foreign Affairs, Kunimitsu Ayano, in Accra, Madjie highlighted the robust legal framework that protects against expropriation and facilitates free capital transfer. He emphasized Ghana's commitment to fair treatment for both foreign and local investors, supported by stable governance and investor-friendly initiatives, such as hosting the African Continental Free Trade Area (AfCFTA) Secretariat. Furthermore, Madjie pointed out that Ghana’s Constitution upholds foreign direct investment, enhancing investor confidence through various international agreements focused on dispute resolution.

Ghana's VASP Law: A Game Changer for Digital Assets and Investment in Africa
business|

Ghana's VASP Law: A Game Changer for Digital Assets and Investment in Africa

On December 30, 2025, Ghana's President John Dramani Mahama signed the Virtual Asset Service Providers (VASP) Bill, marking a pivotal moment in the country's financial evolution. This legislation establishes a regulated framework for digital assets and cryptocurrencies, positioning Ghana as a proactive player in the global financial landscape. The VASP law aims to eliminate uncertainties surrounding virtual asset transactions, thereby enhancing Ghana's attractiveness to global investors and aligning with a broader trend of digital asset regulation across Africa. The new law facilitates capital flow and encourages local businesses to integrate digital assets into their operations, creating a compliant environment for banks and promoting digital job creation. By enabling the tokenization of assets, the VASP law has the potential to revolutionize access to capital, allowing for previously illiquid assets to be transformed into more accessible investment opportunities. This move not only aims to stimulate economic growth but also enhances regulatory certainty, which is crucial for fostering consumer protection and improving tax compliance. Ghana's initiative reflects a significant shift towards embracing financial technologies, with the potential to unlock institutional capital and drive innovation in the digital finance sector. As other African nations look to Ghana's example, the VASP law could serve as a model for achieving economic sovereignty and growth in the digital economy, ultimately reshaping the continent's financial future.

Ghana to Implement Marine Cargo Insurance Regime by February 1, 2026
business|

Ghana to Implement Marine Cargo Insurance Regime by February 1, 2026

The Ministry of Finance has announced the implementation of Ghana’s Marine Cargo Insurance regime, set to commence on February 1, 2026. This initiative, mandated by Section 222 of the Insurance Act, 2026, aims to enhance domestic revenue by requiring local underwriting of marine cargo insurance, which protects goods transported by sea. A stakeholder meeting is scheduled for January 26, 2026, to discuss the details of the implementation. Stephen Kwarteng Yeboah, President of the Insurance Brokers Association of Ghana, has praised this decision, emphasizing its potential to reduce reliance on foreign currency for insurance, retain foreign exchange within the country, and bolster the local insurance market. This move is expected to support importers and facilitate global trade, marking a significant step towards strengthening Ghana's economic framework in the insurance sector.

Newmont Refutes Pollution Claims Linked to Tano River
business|

Newmont Refutes Pollution Claims Linked to Tano River

Newmont Ghana has strongly denied allegations that its mining operations at the Ahafo North site are responsible for pollution in the Tano River. In a recent press release, the company described the claims as misleading and unfounded. Newmont stated that it is actively cooperating with investigations conducted by the Water Resources Commission (WRC) and the Environmental Protection Agency (EPA), alongside local community leaders. These investigations reportedly found no evidence linking the company's activities to any environmental harm in the area. Newmont emphasized its commitment to adhering to strict environmental standards and sustainable practices, asserting that it prioritizes the protection of local ecosystems. The company has engaged with stakeholders to ensure transparency and address community concerns regarding its operations.

COMAC Chairman Addresses Star Oil's Suspension Amidst Price Floor Controversy
business|

COMAC Chairman Addresses Star Oil's Suspension Amidst Price Floor Controversy

Gabriel Kumi, Chairman of the Chamber of Oil Marketing Companies (COMAC), has publicly addressed the recent suspension of Star Oil from the chamber, expressing surprise at the decision given Star Oil's influential role, including holding the vice-chair position. The suspension, which Kumi attributed to internal disagreements over the contentious petroleum price floor policy, highlights rising tensions within the industry as members grapple with regulatory challenges and competition pressures. Kumi clarified that the emergency meeting held prior to Star Oil's suspension was not convened in response to their exit but was planned to address ongoing issues within the chamber. He emphasized that the decision to suspend Star Oil was not an act of exclusion but rather a reflection of a democratic process where the majority opinion prevailed. Despite the suspension, Kumi reiterated that Star Oil remains a key member of COMAC and that efforts are underway to engage with the company to address its concerns. The situation underscores the complexities within the oil marketing sector as COMAC strives to maintain a unified stance on the price floor policy, which is designed to protect the industry amidst escalating competition. Kumi's remarks indicate a commitment to reintegrate Star Oil and foster dialogue to resolve the underlying issues contributing to the current discord.

Osei Kyei-Mensah-Bonsu Raises Concerns Over Sustainability of Ghana's Economic Gains
business|

Osei Kyei-Mensah-Bonsu Raises Concerns Over Sustainability of Ghana's Economic Gains

Former Majority Leader Osei Kyei-Mensah-Bonsu has expressed skepticism regarding the long-term sustainability of Ghana's recent economic improvements, despite positive macroeconomic indicators such as a stabilized cedi and declining inflation. In a recent interview on Asempa FM, he emphasized that effective economic management should translate into tangible benefits for citizens rather than merely presenting favorable statistics. Kyei-Mensah-Bonsu cautioned against the reliance on foreign reserves to support the cedi, arguing that while this may provide short-term stability, it poses significant risks for long-term economic health, particularly concerning public debt management. He urged a critical examination of current economic strategies and their implications for the future, questioning whether the existing methods can be maintained beyond 2028. His remarks highlight the need for a more sustainable approach to economic management that prioritizes the welfare of the populace over temporary fixes.