Ghana Business News

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Ghana Gold Board CEO Sammy Gyamfi Urges Diaspora Investment as Ghana Advances Economic Empowerment and Digital Infrastructure
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Ghana Gold Board CEO Sammy Gyamfi Urges Diaspora Investment as Ghana Advances Economic Empowerment and Digital Infrastructure

Sammy Gyamfi, CEO of the Ghana Gold Board, has issued a strategic call to the African diaspora to transition from traditional remittances toward direct investments in key sectors of the continent’s economy. Speaking at the Africa Rising Symposium in London, Gyamfi emphasized that strategic investment in manufacturing, information technology, and renewable energy is essential for sustainable value creation and long-term prosperity. He lauded President John Mahama’s administration for initiatives aimed at enhancing local ownership and attracting foreign investment, specifically highlighting ongoing efforts to formalize the gold trade and eliminate smuggling to protect Ghana’s natural wealth. This vision for economic transformation is being mirrored at the local level through targeted social interventions and infrastructure developments. In the Atwima Nwabiagya South Municipality, the local government has taken significant steps to empower 45 persons with disabilities (PWDs) by providing the capital and tools necessary to launch income-generating businesses. Municipal Chief Executive Wisdom Osei Boamah oversaw the distribution of GH₵60,000 in capital, along with GH₵21,500 for training and equipment such as deep freezers and laptops. This initiative aims to move vulnerable populations away from dependency and toward economic independence, aligning with the broader national goal of inclusive growth. To support this burgeoning business environment, the National Identification Authority (NIA) is set to modernize identity management with the launch of its first 24-hour Prestige Centre in Labone, Accra, on August 1, 2026. This fee-based facility will offer continuous access to Ghana Card registration and identity services, providing a critical resource for both local entrepreneurs and the diaspora investors Gyamfi is courting. By enhancing the efficiency of identity verification, the NIA aims to facilitate smoother business transactions and support the formalization of the economy, which remains a cornerstone of the current government's developmental agenda. However, the push for legitimate economic growth and international investment faces challenges from illicit activities that damage the nation's reputation. Highlighting the need for the integrity measures championed by the Gold Board, a Ghanaian national, Nana Takyiwa Adonu, was recently sentenced to six years in a United States federal prison for her role in a $1.6 million romance scam. Such cases underscore the importance of Gyamfi’s call for formalized trade and robust policy frameworks to ensure that Ghanaian talent and resources are channeled into productive, legal enterprises that contribute to the nation’s standing in the global marketplace.

VAAL Real Estate Unveils Moonbow in Labone as Nsawam-Adoagyiri Breaks Ground on 24-Hour Economy Market
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VAAL Real Estate Unveils Moonbow in Labone as Nsawam-Adoagyiri Breaks Ground on 24-Hour Economy Market

Ghana's business and real estate sectors are witnessing a significant surge in development with the launch of high-end residential projects and the expansion of trade infrastructure. Highlighting this trend, VAAL Real Estate recently unveiled "Moonbow," a premium residential development in Labone, while the Nsawam-Adoagyiri Municipal Assembly has broken ground on a new 24-Hour Economy Market. These initiatives, supported by both government officials and private sector leaders, underscore a growing confidence in the nation's economic landscape and its capacity for sustained urban and commercial growth. VAAL Real Estate’s Moonbow project, its eighth development in Ghana, was officially launched at a ceremony at the Kempinski Hotel Gold Coast City. Attended by officials from the Ministry of Works, Housing, and Water Resources, the event showcased contemporary studio and one-bedroom apartments tailored for urban professionals and investors. Minister Kenneth Gilbert Adjei commended the investment, noting that quality housing is a critical driver of economic stability. VAAL’s CEO, Mr. Alaa Zayed, emphasized that Moonbow is designed to provide lasting value and foster vibrant urban communities in the heart of Accra, specifically the Labone enclave. Complementing these physical developments, the digital real estate landscape has also expanded with GhanaWeb's introduction of a specialized property platform. This new digital hub aims to streamline the process of buying, renting, and selling property by directly connecting users with landlords and owners. By reducing the administrative friction and stress typically associated with property searches in Ghana, the platform provides a more efficient marketplace for both domestic and international investors looking to tap into the booming housing sector. On the commercial front, Municipal Chief Executive Selorm Fumey has initiated the construction of the Nsawam-Adoagyiri 24-Hour Economy Market. This project is a tangible step toward operationalizing the government’s 24-hour economy policy, intended to turn the municipality into a comprehensive business hub with continuous commercial activity. The market is expected to boost local trade, create jobs, and enhance the municipality's contribution to the national GDP by providing a secure, well-equipped space for businesses to operate around the clock. Together, these developments signal a multi-faceted approach to economic modernization in Ghana. From luxury urban living and digital real estate solutions to robust physical trade hubs, the synergy between private investment and public policy is creating a more resilient business environment. As these projects move toward completion, they are expected to not only address the housing deficit but also stimulate job creation and provide a blueprint for sustainable urban development across the country.

Ghanaian Business Leaders and Entrepreneurs Urged to Pivot from Visibility to Strategic Value Creation
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Ghanaian Business Leaders and Entrepreneurs Urged to Pivot from Visibility to Strategic Value Creation

Ghana's corporate and small business landscapes are undergoing a strategic shift as experts call for a transition from mere visibility to long-term wealth creation and professionalized governance. This movement was highlighted at the inaugural Company Secretaries’ Summit held on July 16, 2026, at the Labadi Beach Hotel in Accra. Organized by Mindful Governance under the theme 'Governance as Value Creation,' the summit emphasized that the role of company secretaries is evolving from administrative support to critical value drivers within the corporate structure. Keynote speakers, including the Registrar of Companies, Maame Samma Peprah, and Karl George, MBE, explored the integration of artificial intelligence (AI) in governance, urging professionals to adopt AI frameworks responsibly to enhance decision-making. The event also recognized six governance leaders for their outstanding contributions, marking the summit as a new annual fixture in Ghana’s corporate calendar. While the corporate sector focuses on governance, small and medium-sized enterprises (SMEs) are being encouraged to rethink their fundamental business philosophies. Expert analysis from Dr. Ibn Kailan Abdul-Hamid suggests that many Ghanaian SMEs fail because they prioritize production and sales over a genuine 'marketing orientation' that understands and meets customer needs. For solo entrepreneurs and small business owners, the shift involves moving beyond the budget-heavy traditional advertising to focus on building authentic personal brands, managing intellectual property, and establishing reliable customer relationships. These 38 core strategies for solo owners include leveraging digital tools like WhatsApp Business and Google Business Profiles, alongside consistent high-quality delivery, to build lasting brands in an increasingly competitive market. This push for strategic business development was vividly demonstrated at the Women in SME Fair in Accra, organized by the Women of Africa Network and Consolidated Bank Ghana (CBG). The fair showcased high-quality Ghana-made products ranging from food to beauty items, highlighting the readiness of women-led businesses to compete under the African Continental Free Trade Area (AfCFTA). CBG's leadership emphasized that supporting these entrepreneurs with financial services and investor connections is vital for converting local talent into global commercial success. Similarly, practitioners in Ghana's creative industry have been warned that international visibility in music, film, and fashion is insufficient without ownership and robust infrastructure. The consensus across industries is clear: for Ghanaian talent to translate into sustainable wealth, there must be a shift from celebrating popularity to building long-term assets and institutionalizing business processes.

CircularEconomy4Ghana Innovation Challenge Targets Waste Reduction in Agriculture and Textile Sectors
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CircularEconomy4Ghana Innovation Challenge Targets Waste Reduction in Agriculture and Textile Sectors

The CircularEconomy4Ghana Innovation Challenge has been launched to address the escalating waste and systemic inefficiencies within Ghana’s agriculture and textile industries. Spearheaded by the International Water Management Institute (IWMI) in collaboration with the Alliance of Bioversity International and CIAT, the initiative seeks to discover and scale technology-driven solutions that promote circular economy practices. By focusing on resource efficiency and waste recovery, the program aims to mitigate the environmental impact of these two critical sectors while fostering economic resilience through innovation. The challenge comes at a critical time for Ghana, where significant food losses and textile pollution pose serious environmental threats. Dr. Tosin Somorin of the IWMI highlighted that the agricultural sector generates substantial waste that could be repurposed, while the textile industry struggles with the disposal of discarded clothing. To address these issues, the challenge invites entrepreneurs, startups, and small-to-medium enterprises (SMEs) to propose inclusive business models. Priority is given to solutions that not only enhance waste recovery but also actively support the economic empowerment of women and youth. Participants in the CircularEconomy4Ghana challenge will undergo a rigorous selection process, with up to 15 teams chosen to enter a dedicated acceleration phase. This program includes a business bootcamp in Accra, technical guidance, and intensive mentoring to refine their prototypes and business strategies. Successful applicants will also gain access to investment engagement opportunities, helping them bridge the gap between innovation and commercial viability. The program is bolstered by the support of Ghana’s National Entrepreneurship and Innovation Programme (NEIP) and various international partners, ensuring a robust support ecosystem for the selected innovators. Looking ahead, the acceleration phase is set to culminate in a high-profile demonstration day in February 2024, where the finalists will showcase their solutions to potential investors and industry stakeholders. By transforming waste into value-added products and improving supply chain efficiency, the CircularEconomy4Ghana initiative represents a significant step toward Ghana’s broader sustainability goals. The project underscores the importance of public-private partnerships in driving the country’s transition toward a circular economy, ultimately securing a more sustainable and resource-efficient future for the nation.

ECG unable to pay dividend for 2025 - Board chairman William Amuna tells annual general meeting
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ECG Slashes Losses by GH"5.7 Billion as Newmont Ahafo South Mine Deploys Global-First Mining Technology

Ghana's industrial and energy sectors are showing signs of significant operational progress, led by a sharp reduction in annual losses at the Electricity Company of Ghana (ECG) and pioneering technological investments by Newmont. At its 18th Annual General Meeting—the first in over eight years—ECG reported that its loss after tax plummeted from GH"8,255 million in 2024 to GH"2,521 million in 2025. This financial turnaround was supported by a 16.2% surge in revenue, which reached GH"22,109 million. Despite this recovery, Board Chairman William Amuna confirmed that the company cannot yet distribute dividends due to existing liabilities, though he remains optimistic that ongoing reforms will eventually ensure long-term sustainability. In the mining sector, Newmont Ahafo South Mine has achieved a global milestone by commissioning the Cat" 6040 Next Generation Hydraulic Mining Shovel. This deployment makes the mine the first within the Newmont group and one of only three sites worldwide to utilize this advanced equipment. General Manager Alex Kofi Annin highlighted that the shovel is equipped with enhanced safety features, superior engine performance, and a larger bucket capacity designed to boost productivity. This investment is part of a broader strategy to leverage innovative technology to maintain Ghana's competitive edge in gold production while improving operational safety standards. However, these gains in the utility and mining sectors are met with caution from economic analysts. The Institute of Statistical, Social and Economic Research (ISSER) has issued a warning regarding Ghana's strategy of increasing its gold reserves. Professor Robert Darko Osei noted that while accumulating gold has bolstered the Bank of Ghana's reserves, it creates a vulnerability to price volatility in the global market. Osei further cautioned that current inflation-control measures are costly for the central bank and could have negative implications for employment if pursued too aggressively without considering broader fiscal stability. Ultimately, while the energy ministry and corporate leaders celebrate improved financial discipline and technological growth, the economic outlook remains tied to global commodity trends. The government's ability to balance industrial efficiency with a diversified reserve strategy will be crucial. Moving forward, ECG plans to implement a four-channel strategy for debt reduction, while the mining sector continues to focus on sustainable practices amid warnings that the nation must remain vigilant against potential external economic shocks, such as rising global oil prices and fluctuating gold values.

Ghana Standards Authority to Enforce 10-Year Age Limit and Safety Standards on Vehicle Imports from October 2026
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Ghana Standards Authority to Enforce 10-Year Age Limit and Safety Standards on Vehicle Imports from October 2026

The Ghana Standards Authority (GSA) has announced a significant regulatory shift in the automotive sector with the enforcement of the Pre-Export Verification of Conformity (PVoC) programme, effective October 1, 2026. This initiative is designed to ensure that all vehicles imported into Ghana adhere to the national standard GS 4510, effectively prohibiting the importation of vehicles older than ten years. The GSA’s Deputy Director-General, Samuel Abdulai Jabanyite, emphasized that the programme is a critical step toward enhancing road safety, protecting the environment, and formalizing the domestic used-vehicle market to prevent Ghana from becoming a dumping ground for substandard automobiles. Under the new regime, inspections will be conducted by accredited third-party inspectors before vehicles are shipped to Ghana. Beyond the age restriction, the GSA will strictly block the entry of right-hand-drive vehicles and those with major structural issues, including flood-damaged, fire-damaged, or salvaged units. To support these enforcement efforts, the GSA is introducing the Vehicle Dealer Information System (VEDIS). This digital platform will integrate data from various agencies to facilitate real-time verification of imported vehicles, a move specifically aimed at curbing the registration of stolen vehicles and closing existing loopholes in the automotive supply chain. This regulatory tightening comes at a time when the perception of the Ghanaian automotive market is evolving, particularly regarding locally assembled and Chinese-branded vehicles. Yang Yang, CEO of Zonda Tec Ghana, recently highlighted that government support and vehicle assembly policies have significantly boosted consumer confidence in Chinese automobile brands. She noted that long-term strategic planning, similar to the 30-year development cycle seen in China’s own automotive industry, is essential for building a robust local manufacturing sector. According to Yang, these policies are successfully shifting public preference away from uncertain imports toward reliable, locally supported brands. The combined impact of the GSA's stringent new standards and the growth of the local assembly industry signals a major transition for Ghana's transport sector. While the October 2026 deadline provides a window for importers to adjust, the introduction of the PVoC and VEDIS systems suggests a permanent move toward high-quality, verifiable automotive standards. As the industry prepares for these changes, upcoming events like the Zonda Tec Auto Sale and Expo in August 2026 are expected to further showcase the shift toward a more regulated and modern automotive landscape in the country.

NACOC grants first licences for medicinal cannabis cultivation to two companies
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NACOC Issues Ghana’s First Cannabis Cultivation Licences as Anowah Afrique and Advans Ghana Scale Industrial and Sustainability Initiatives

In a landmark regulatory shift for Ghana’s agricultural and pharmaceutical sectors, the Narcotics Control Commission (NACOC) has officially granted the country’s first licences for the medicinal and industrial cultivation of cannabis. This historic move, announced by Director-General Major General Maxwell Obuba Mantey, authorizes MJ Adom Limited and Juliopta Limited to begin operations within a strictly regulated framework. The licences specifically permit the cultivation of cannabis with a Tetrahydrocannabinol (THC) content of 0.3% or less, targeting the generation of new employment opportunities, the attraction of foreign investment, and the advancement of scientific research. Major General Mantey emphasized that while these licences mark a new economic era, recreational cannabis remains strictly illegal, and any non-compliance with the three-year licensing terms will result in immediate revocation and legal penalties. Parallel to these regulatory developments, Ghanaian-owned garment manufacturer Anowah Afrique has unveiled an ambitious industrial expansion plan designed to tackle unemployment through strategic partnerships with the government and international development agencies. Deputy CEO Jose Coffie revealed that the initiative focuses on inclusive manufacturing, offering job opportunities to individuals regardless of their educational background, age, or physical disabilities. With a production target of over one million garments annually, the company aims to stimulate local industries and boost national revenue while adhering to high quality standards for both domestic and international markets. This initiative is expected to empower vulnerable groups and significantly increase the footprint of Ghana's manufacturing sector. In the financial and luxury sectors, corporate growth is being increasingly paired with sustainability and international trade. Advans Ghana Savings and Loans recently reinforced its environmental commitment by planting 1,600 seedlings of Acacia, Teak, and Shea at the Chipa and Kogni Forest Reserves. Working in partnership with the Forestry Commission, CEO Guillaume Valence noted that the initiative is part of a broader climate roadmap that has already achieved an 80% survival rate for previously planted trees and significantly reduced the institution’s paper consumption. Meanwhile, the luxury market is set for expansion with the launch of Clos Jangli Ghana. Led by Honorary Consul Edmond Boateng, the company will serve as the exclusive distributor of premium Luxembourgish champagnes and wines, seeking to bridge European winemaking traditions with Africa’s growing demand for high-end products. These diverse developments—ranging from pioneering agricultural regulation and inclusive manufacturing to environmental stewardship and luxury distribution—highlight a multi-faceted approach to Ghana's economic development. As the first cannabis cultivation sites begin operations and industrial partnerships take shape, the focus remains on balancing commercial growth with strict regulatory compliance and social responsibility. These initiatives collectively reflect a robust effort to diversify the national economy, create sustainable livelihoods, and position Ghana as a competitive destination for varied global industries.

MTN Ghana Commits $1.1 Billion to Infrastructure as AI and Mobile Money Drive National Economic Transformation
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MTN Ghana Commits $1.1 Billion to Infrastructure as AI and Mobile Money Drive National Economic Transformation

MTN Ghana has announced a massive $1.1 billion investment over the next three years to overhaul and expand its telecommunications infrastructure, with $380 million committed for the current year alone. Speaking at a media engagement in Sunyani to mark the company’s 30th anniversary, Senior Manager Dr. Lawrence Akosen detailed plans to establish 800 new sites across the country. This aggressive expansion is designed to bolster network reliability and enhance customer connections, reflecting a strategic pivot toward meeting the growing digital demands of the Ghanaian public as part of the company's long-term commitment to national development. A core component of this strategy is the further development of the Mobile Money (MoMo) ecosystem to drive Ghana’s transition toward a cashless economy. David Nana Addei, MTN’s Mobile Money Manager for Northern Ghana, highlighted the recruitment of over 350,000 agents and the creation of 'MTN Community Shops' to bring services closer to users. However, this digital push comes with increased oversight; Field Service Manager Dickson Amoung-Yam cautioned MoMo loan defaulters that the service now leverages the Ghana Card for tracking. The company warned that disposing of SIM cards is no longer a viable escape for those seeking to avoid repayment, as the underlying system can now detect and link such actions to the individual's national identity, ensuring the sustainability of the credit system. Parallel to these telecommunications advancements, the 2026 Ghana AI Summit has spotlighted Artificial Intelligence as a primary driver for national GDP growth. Roland Baah Teye, Lead Partner for Technology and Transformation at Deloitte Ghana, argued that AI should be viewed as an economic catalyst rather than just a technological trend. While acknowledging that AI may automate repetitive tasks, Teye emphasized its potential to create high-value jobs in data analysis and governance. To support this transition, Emmanuel Ofori from the Ministry of Communication revealed that a national AI framework is being developed to monitor the technology’s impact and ensure it aligns with Ghana’s long-term economic transformation goals under the current administration. On the global stage, these local advancements contrast with supply-side challenges facing tech giants like Apple, which have direct implications for Ghanaian consumers. Despite reporting revenues of $109 billion, Apple has warned of significant supply constraints for the iPhone, Mac, and iPad due to a global shortage of advanced microprocessors. CEO Tim Cook noted that unexpected demand has exacerbated these issues, while Amazon conversely saw a stock surge driven by its cloud business growth. As Ghana integrates more deeply into the global digital economy through its AI and infrastructure initiatives, these international supply chain dynamics will remain a critical factor for local business operations and hardware availability.

Michael Zurain — Board chairman of Sonzele Community Bank PLC
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Ian Greenstreet Outlines Global Expansion Strategy for Ghana International Bank as Financial Sector Reports Strong H1 2026 Growth

Ghana’s financial landscape is witnessing a strategic pivot toward global integration and digital modernization, led by significant moves from key institutions. Ian Greenstreet, the newly appointed CEO of Ghana International Bank (GHIB), recently concluded an inaugural visit to Ghana, pledging to transform local ambitious ideas into global realities. This vision is being complemented by technological strides, most notably from Prudential Bank, which has integrated the Pan African Payment and Settlement System (PAPSS) into its mobile application. This move allows customers to conduct cross-border transactions in local currencies, directly supporting the objectives of the African Continental Free Trade Area (AfCFTA) and reducing the dependency on hard currency for intra-African trade. Acting Managing Director of Prudential Bank, Ebow Quayson, emphasized that this initiative makes transactions faster and safer, aligning with broader national economic policies. On the domestic front, several financial institutions have reported strong fiscal results despite a challenging macroeconomic environment. Letshego Ghana Savings and Loans PLC saw its profit after tax surge to GH¢67 million for the first half of 2026, driven by a robust mobile lending strategy and improved margins. Similarly, Sonzele Community Bank PLC reported a 24.04% increase in deposits and a 72.17% rise in loans for the 2025 financial year, subsequently declaring a dividend of GH¢0.20 per share. The pharmaceutical giant Dannex Ayrton Starwin Plc also mirrored this growth trend, posting a 41% increase in profit after tax to GH¢14.65 million. However, the sector faced some headwinds; the Minerals Income Investment Fund (MIIF) reported a 42% decline in profits for 2025, dropping to GH¢1.1 billion, sparking discussions about the necessity of leadership continuity and long-term strategy execution under its new management. Beyond financial performance, banks are intensifying efforts to secure customer loyalty through innovative reward schemes and savings initiatives. Access Bank (Ghana) PLC has partnered with Points Africa to expand its 'Rewards by Access' program, allowing customers to earn and redeem points across more than 65 merchant locations. In a parallel move to encourage a national savings culture, CalBank has launched its 'Abakade Promo,' offering a grand prize of GH¢100,000 to incentivized depositors. These initiatives reflect a broader industry trend toward retail banking excellence and financial inclusion, particularly for women entrepreneurs and small-scale businesses, as highlighted by Letshego’s recent financial reporting during its engagement with the Ghana Stock Exchange. As the sector looks toward the remainder of 2026, the focus remains on recapitalization and digital transformation to meet evolving regulatory and market demands. Sonzele Community Bank’s leadership has already signaled the need for further investment to meet Bank of Ghana regulatory requirements, a sentiment echoed across the rural banking sector. With GHIB’s commitment to providing long-term capital and the ongoing digital evolution within local banks through systems like PAPSS, the Ghanaian financial sector is positioning itself as a resilient bridge between local innovation and the global marketplace. This transition toward more structured financing and international connectivity is expected to play a crucial role in Ghana's ongoing economic growth and industrial prosperity.

JGrand Commodities launches 3 cashew products
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Ghana’s Agribusiness Sector Pivots Toward Local Value Addition Amid Projected 16% Cocoa Production Slump

Ghana’s agricultural landscape is currently navigating a dual reality of significant production challenges in its traditional cocoa sector and a burgeoning movement toward local value addition and private investment. According to market regulator COCOBOD, cocoa production is projected to decline by at least 16% in the 2026-2027 season. This downturn is attributed to a combination of adverse weather patterns, including El Niño conditions and excessive rainfall, the natural bearing cycle of cocoa trees, and the devastating impact of illegal gold mining, or 'galamsey', particularly in the Western and Western North regions. In response, COCOBOD has initiated farm rehabilitation programs and free fertilizer distribution to mitigate the expected losses, mirroring a broader regional trend as neighboring Ivory Coast anticipates similar production drops. Despite these headwinds in the cocoa sector, other segments of the agribusiness industry are showing remarkable resilience and a shift toward processing raw materials into finished goods. JGrand Commodities recently launched three new cashew-based products—milk, butter, and protein bars—under its Juki Nuts brand. Developed in collaboration with GIZ and the Ministry of Food and Agriculture, this initiative seeks to reverse the trend where 90% of Ghana's cashew crop is exported unprocessed. Similarly, the acquisition of a majority stake in Eden Tree Limited by Pangea Africa Ltd and Black Star Africa Ltd underscores the growing attractiveness of Ghana's food supply chain for institutional investors. Founder Catherine Krobo Edusei, who transitions to a Founder Emeritus role, noted that the deal proves locally built agribusinesses can meet international standards and compete globally. Supporting this industrial shift is a renewed focus on empowering youth and women entrepreneurs through structured financial access and mentorship. The 2026 AGRA Ghana Deal Room, part of the Youth Entrepreneurship for the Future of Food and Agriculture (YEFFA) Programme, recently hosted fifteen agribusinesses to pitch innovative ideas for strategic partnerships. These efforts are complemented by local advocacy, such as calls from Johnpaul Semavo, CEO of Volta Peak Boutique Hotel, who has urged young Ghanaians to explore the coconut value chain. By distributing over 5,000 seedlings and promoting the processing of coconut oil over selling fresh fruit, stakeholders hope to transform regions like Akatsi into specialized agricultural hubs. Ultimately, the convergence of private equity investment, institutional support for young entrepreneurs, and the drive for value-added exports suggests a strategic pivot in Ghana's economic structure. While environmental factors and galamsey continue to threaten traditional commodity yields, the maturation of companies like Eden Tree and JGrand Commodities indicates a path toward enhanced food security and higher profit margins for indigenous businesses. As these sectors evolve, the focus remains on improving product packaging and market readiness to ensure that Ghanaian agricultural products can withstand global competition and create sustainable local employment.

Finance Minister Ato Forson Unveils ‘New Economy’ Framework as Ghana Pivots from Stabilization to Growth
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Finance Minister Ato Forson Unveils ‘New Economy’ Framework as Ghana Pivots from Stabilization to Growth

Finance Minister Dr. Cassiel Ato Forson has announced a strategic shift in Ghana’s fiscal direction with the introduction of the "New Economy" policy framework for the 2027 national budget. Following a two-year period of intensive economic stabilization under President John Mahama’s administration, the government plans to pivot toward growth-oriented spending. This includes a notable proposal to relax the primary surplus target from 1.5% to 0.5% of GDP, creating fiscal space to expand opportunities in rural areas and among the youth. This policy shift comes as Ghana records a robust mid-year performance in 2026, with GDP growth reaching 6.4%, surpassing initial expectations and signaling a solid recovery path. Data from the Ghana Statistical Service (GSS) reveals a significant strengthening of the country’s external position, with a record trade surplus of GH"148.3 billion in 2025—a nearly four-fold increase from the previous year. This surge was primarily fueled by gold exports totaling GH"252.4 billion, while South Africa maintained its position as Ghana’s largest African export market, accounting for 58.7% of continental trade. On the domestic front, the Finance Ministry remains confident in meeting its 2026 revenue target of GH"105.2 billion. Professional services firms Deloitte and EY have commended the government's fiscal discipline and improved tax compliance, noting that non-oil tax revenue rose to 13.1% of GDP in 2025 without the need for supplementary appropriations. However, the path to recovery is tempered by persistent currency volatility and rising costs of living. As of late July 2026, the Ghanaian cedi depreciated to GH"12.30 against the US dollar on the open market, contributing to an anticipated sharp rise in fuel prices. The Chamber of Oil Marketing Companies (COMAC) predicts petrol prices will climb to approximately GH"15.23 per litre, driven by both currency weakness and a 23.25% surge in global crude prices. These inflationary pressures have drawn warnings from economist Prof. Godfred Bokpin, who argues that macroeconomic stability must translate into improved living standards, better jobs, and food security for ordinary Ghanaians to be considered a true economic transformation. Industrial growth and structural reforms remain central to the government's agenda, though business leaders have raised concerns regarding execution. Mark Badu-Aboagye, CEO of the Ghana National Chamber of Commerce and Industry (GNCCI), criticized the 2026 Mid-Year Budget Review for its perceived lack of a clear implementation roadmap for the government’s flagship 24-Hour Economy policy. He warned that high interest rates and borrowing costs could stifle the initiative’s potential. Concurrently, the government is implementing reforms in the upstream petroleum sector to attract fresh capital and has recently removed a 20% excise duty on fruit juices to bolster the competitiveness of local manufacturing firms. As Ghana transitions from stabilization to the "New Economy" framework, the government faces the dual challenge of maintaining fiscal discipline while addressing a GH"36.5 billion food import bill. While heavy reliance on foreign food supplies persists, growth in value-added agricultural exports like processed cocoa and cashew nuts suggests a shift toward industrialization. The success of the upcoming budget cycle will depend on the government’s ability to balance debt management with investments that reduce the cost of doing business and directly impact the welfare of the populace. Moving forward, sustained structural reforms and better domestic revenue mobilization will be critical to ensuring the recovery benefits all sectors of society.

Ernest De-Graft Egyir Urges CEOs to Prioritise Strategic Execution for Year-End Organisational Growth
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Ernest De-Graft Egyir Urges CEOs to Prioritise Strategic Execution for Year-End Organisational Growth

As the business year enters its final quarter, leadership expert Ernest De-Graft Egyir has called on Chief Executive Officers (CEOs) to sharpen their focus by distinguishing between urgent daily demands and core strategic priorities. The recommendation underscores a critical shift in leadership philosophy, suggesting that organisational effectiveness is rooted not in the volume of activities pursued, but in the disciplined execution of a few high-impact objectives. By narrowing their focus, leaders can navigate the complexities of year-end transitions while maintaining a clear path toward long-term institutional goals. To achieve this level of strategic discipline, Egyir outlines several key actions for executives, including the clarification of top-tier priorities and the precise alignment of resources to support them. He notes that focused organisations consistently outperform their peers who struggle with competing or redundant priorities. Central to this approach is the rigorous elimination of low-value activities that drain corporate resources without contributing significantly to the bottom line. Strengthening leadership accountability and instituting regular priority reviews are also cited as essential steps for maintaining organisational momentum and ensuring every effort contributes to the company's strategic vision. A particularly actionable piece of advice for leadership teams is the implementation of a "stop-doing" initiative. Egyir encourages CEOs to ask their teams to identify at least one recurring activity or non-value initiative to discontinue entirely. This exercise is designed to free up capacity for high-impact strategic execution that might otherwise be stifled by administrative clutter. By fostering an environment of disciplined decision-making and declining distractions, Ghanaian business leaders can significantly boost productivity and overall organisational performance as they transition into the next fiscal year.