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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.

COMAC Seeks to Re-engage Star Oil Following Membership Suspension
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COMAC Seeks to Re-engage Star Oil Following Membership Suspension

The Chamber of Oil Marketing Companies (COMAC) is actively working to reopen dialogue with Star Oil Limited after the company suspended its membership due to concerns over COMAC's handling of the petroleum price floor debate. Dr. Riverson Oppong, CEO of COMAC, expressed disappointment over Star Oil's decision to withdraw instead of addressing its concerns within the organization. He emphasized the importance of maintaining relationships and fostering discussions even amidst differing opinions. COMAC's Board, under the leadership of its Chairman, is planning further discussions to encourage Star Oil to reconsider its suspension, which has sparked significant conversations within Ghana's downstream petroleum sector. Dr. Oppong reiterated that COMAC's stance is not to target Star Oil but to highlight potential risks in the industry, and he announced plans for a public statement to clarify the Chamber's commitment to fair competition and industry stability.

Ghana Shippers Authority Postpones Implementation of Smart Port Note
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Ghana Shippers Authority Postpones Implementation of Smart Port Note

The Ghana Shippers Authority (GSA) has announced a postponement of the rollout of the Smart Port Note (SPN), which was initially scheduled for February 1, 2026. This decision, made public on December 23, 2025, is due to unresolved issues that require further clarification and stakeholder consultation. The GSA aims to ensure that all concerns are adequately addressed before setting a new implementation date. The SPN is designed to enhance trade facilitation, improve regulatory compliance, and strengthen cargo monitoring at Ghana's ports. It is part of a collaborative effort with Inter-Ocean Maritime and Logistics Institute Limited, involving extensive engagement with various shipping and trade associations in the country.

Malawi's Energy Regulator Raises Fuel Prices by Over 40% Amid Economic Challenges
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Malawi's Energy Regulator Raises Fuel Prices by Over 40% Amid Economic Challenges

Malawi's energy regulator, the Malawi Energy Regulatory Authority (Mera), has announced a significant increase in fuel prices, raising petrol by 41.9% and diesel by 41.3%. This marks the second hike in just four months, with total increases of 95% for petrol and 80% for diesel since President Peter Mutharika took office. The decision comes as the previous government's fixed pricing system was deemed unsustainable, leading to substantial financial losses. Mera has now adopted an automatic pricing mechanism to better align fuel costs with rising shipping expenses. Local commentators have expressed concerns that these increases will exacerbate the ongoing cost-of-living crisis, potentially undermining Mutharika's economic recovery efforts. Many citizens have voiced disappointment, fearing that the current administration may repeat the economic challenges faced by its predecessor. The hikes are expected to lead to higher transport fares and increased prices for essential goods, further straining household budgets in Malawi.

IMF Director Highlights Ghana's Development Gains Amid Economic Challenges
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IMF Director Highlights Ghana's Development Gains Amid Economic Challenges

Abebe Aemro Selassie, the Director of the IMF's African Department, has commended Ghana for its substantial progress in development, particularly in electricity access and living standards. In a recent interview, he noted that electricity coverage has surged from 30-40% to nearly 90% over the past two decades, significantly enhancing the quality of life for many Ghanaians. However, Selassie cautioned that the nation faces critical challenges, particularly in job creation and macroeconomic stability, which hinder its financial independence from external support. Despite the improvements in infrastructure and social development, Selassie emphasized that job growth has not kept pace with the population increase, especially during election cycles. He warned that without substantial reforms to address these issues, Ghana risks continued reliance on institutions like the IMF and World Bank. The IMF official stressed the importance of sustainable solutions to bolster employment and stabilize the economy, which are essential for reducing dependency on external financial aid and achieving long-term economic stability.

Elon Musk and Ryanair's Michael O'Leary Engage in Public Feud Over Wi-Fi Technology
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Elon Musk and Ryanair's Michael O'Leary Engage in Public Feud Over Wi-Fi Technology

Elon Musk has ignited a public feud with Ryanair CEO Michael O'Leary after proposing to buy the airline, following O'Leary's rejection of Musk's Starlink technology for in-flight Wi-Fi. The spat escalated when O'Leary dismissed Musk's proposal, branding him an "idiot" and criticizing the feasibility of implementing Starlink due to potential increases in operational costs and passenger fees. In a tongue-in-cheek response, Ryanair launched a "Great Idiots seat sale" aimed at Musk, further fueling the exchange. O'Leary plans to hold a press conference to address the comments made by Musk, who has also called for O'Leary's firing. This incident highlights the provocative public personas both leaders have cultivated, with Musk and O'Leary known for their controversial statements and media-savvy approaches. Despite Musk's interest in acquiring Ryanair, EU regulations currently prevent non-EU ownership of majority stakes in airlines, complicating the situation further.

Ghana's Fuel Price Cuts: COMAC Confirms Anticipated Reductions Amid Market Competition
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Ghana's Fuel Price Cuts: COMAC Confirms Anticipated Reductions Amid Market Competition

The Chamber of Oil Marketing Companies (COMAC) has confirmed that the recent drop in fuel prices in Ghana was anticipated under the country's deregulated petroleum pricing regime. Dr. Riverson Oppong, COMAC's Chief Executive, stated that these reductions were forecasted weeks in advance and align with the Chamber's previous predictions. Fuel prices are adjusted bi-weekly based on global oil prices, exchange rate fluctuations, and competition among oil marketing companies (OMCs). The recent price cuts have sparked discussions about a potential price war, particularly between major players like GOIL and Star Oil, which have adopted aggressive pricing strategies to attract customers. Despite public speculation regarding the nature of these reductions, Dr. Oppong emphasized that they are a natural outcome of market dynamics rather than an anomaly. He noted that the competitive landscape has forced smaller firms to adjust their pricing strategies to remain viable in the market. In light of these developments, COMAC is also set to hold a significant board meeting to discuss the future of Ghana's fuel price floor, which is currently set at GH¢9.80. This review aims to address the ongoing aggressive price competition among OMCs and will require cooperation between regulators and the industry to determine the best path forward for the sector.

Snap Settles Social Media Addiction Lawsuit as Other Tech Giants Face Trial
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Snap Settles Social Media Addiction Lawsuit as Other Tech Giants Face Trial

Snap, the parent company of Snapchat, has settled a lawsuit concerning social media addiction just days before the trial was set to begin in Los Angeles. The specific terms of the settlement remain undisclosed, but Snap expressed satisfaction in resolving the matter amicably. The lawsuit was initiated by a 19-year-old plaintiff, K.G.M., who alleged that Snapchat's addictive design negatively impacted her mental health. While Snap has settled, other defendants in the case, including Meta (Instagram), TikTok (ByteDance), and YouTube (Alphabet), have not reached settlements and are scheduled to face trial, with jury selection set for January 27. Notably, Meta CEO Mark Zuckerberg is expected to testify during the proceedings. This ongoing litigation could challenge the legal protections that social media companies have relied on under Section 230 of the Communications Decency Act, as the plaintiffs argue that the companies' algorithmic designs contribute to user addiction and associated mental health issues. Critics, however, contend that there is insufficient evidence linking these practices to the alleged harms, raising questions about the accountability of social media platforms in relation to user well-being.

IFC Reports Surge in Business Proposals in Ghana, Focusing on Renewable Energy
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IFC Reports Surge in Business Proposals in Ghana, Focusing on Renewable Energy

Kyle Kelhofer, Senior Country Manager of the International Finance Corporation (IFC), has reported a notable increase in business proposals in Ghana, particularly within the agriculture and infrastructure sectors. During an interview on January 19, Kelhofer emphasized a significant shift in energy project proposals, with plans for solar projects escalating from the previous range of 15-20 megawatts to ambitious targets of 200-400 megawatts. He underscored the critical need for affordable and reliable power to support business growth in the country. Kelhofer reaffirmed IFC's commitment to backing credible and viable projects that align with their standards, highlighting the organization's proactive engagement in fostering economic development in Ghana.

Ghana's Mining Reforms Raise Alarm Over Investment Risks and Industry Growth
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Ghana's Mining Reforms Raise Alarm Over Investment Risks and Industry Growth

The Ghana Chamber of Mines has issued a strong warning regarding proposed changes to the country's mining fiscal regime, expressing concerns that these reforms could significantly hinder long-term investments and sustainable revenue generation. The government plans to eliminate long-term stability agreements and increase royalties for gold production from the current 3-5% to between 9% and 12%, depending on gold prices. While the Chamber supports a sliding-scale royalty system, they argue that the current proposals lack balance and could lead to project delays, job losses, and a slowdown in mining output. The Chamber emphasizes the need for a fiscal framework that allows the government to benefit while also enabling mining companies to reinvest and grow. They are committed to ongoing consultations with the government to create a competitive and transparent fiscal environment that maximizes national benefits without compromising the industry's viability. Meanwhile, in a related sector, the International Finance Corporation (IFC) has stepped in to support Ghana's cocoa industry, injecting over $100 million, with potential support reaching $300 million, to stabilize the cocoa supply chain amid liquidity challenges. This highlights the broader economic pressures facing Ghana's key export sectors, including both mining and agriculture.

NPA to Discuss Fuel Price Floor Policy with COMAC Amid Industry Concerns
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NPA to Discuss Fuel Price Floor Policy with COMAC Amid Industry Concerns

The National Petroleum Authority (NPA) is set to engage the Chamber of Oil Marketing Companies (COMAC) regarding the implementation of a fuel price floor policy outlined in the 2024 Petroleum Product Pricing Guidelines. This initiative, which aims to stabilize the petroleum market and protect consumers from price undercutting, has garnered mixed reactions from industry players. While most oil marketing companies support the policy, one company has expressed opposition. NPA's Director of Economic Regulation, Abass Tasunti, emphasized that the policy is essential for ensuring a sustainable supply of petroleum products. Non-compliance with the price floor could result in penalties of up to GHS5,000. A meeting scheduled for January 21 will allow COMAC to adopt a unified stance on the pricing program, highlighting the importance of collaboration in addressing industry challenges.