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.

How StarOil’s pricing strategy helped it catch up with GOIL
business|

Government to Write Off TOR Debt as StarOil Emerges as Ghana's Fuel Market Leader

The Ghanaian government is taking significant steps to stabilize the energy and petroleum sectors through targeted financial interventions and policy shifts. The Ministry of Finance has announced plans to write off approximately $120 million of the Tema Oil Refinery’s (TOR) legacy debt, a move scheduled for the 2026 budget. This initiative is designed to alleviate the financial strain on the state-owned refinery, which currently carries roughly $400 million in obligations following previous restructuring efforts. TOR Managing Director Edmond Kombat indicated that while the write-off is a critical step, the refinery continues to negotiate for discounts with private creditors such as Sahara and BP, while seeking parliamentary support to resolve outstanding debts owed to the Ghana National Petroleum Corporation (GNPC) and the Volta River Authority (VRA). In a parallel effort to bolster industrial growth under the current administration, the government is targeting a reduction in electricity generation costs. Deputy Minister of Energy and Green Transition, Richard Gyan-Mensah, recently outlined strategies to lower renewable energy tariffs and cap thermal power costs to make energy more predictable for local manufacturers. Speaking at the 2026 Ghana Industrial Summit, the Deputy Minister revealed plans to mobilize €10 billion in infrastructure investment to meet a projected 10,000-megawatt demand by 2040. These measures come as the Association of Ghana Industries (AGI) continues to advocate for cost reforms, citing high electricity bills as a primary obstacle to the competitiveness of local production and regional export potential. The downstream petroleum market is also witnessing a historic shift in leadership, with StarOil overtaking GOIL to become the leading company in Ghana’s retail fuel sector. StarOil’s market share rose to 10.80% in early 2025, surpassing GOIL, whose share fell to 10.51% from 17.6% in 2023. StarOil’s rise is largely attributed to a competitive pricing strategy that favored lower costs for consumers during periods of rising prices. This shift reflects a broader, more fragmented market where price has become the primary tool for consumer attraction. This regional focus on refinery and retail viability was further underscored by billionaire Aliko Dangote, who recently discussed the immense challenges and 'oil mafias' he encountered while completing his $20 billion mega-refinery project. These domestic developments are unfolding against a backdrop of fluctuating international energy prices. Global benchmarks, including Brent crude and West Texas Intermediate, recently saw declines as Saudi Arabia restored crude supply via key pipelines and diplomatic talks between the US and Iran showed signs of progress. For Ghana, the combination of restructuring refinery debt, lowering industrial power costs, and a more competitive retail market provides a potential pathway for economic revitalization. As the government expands gas-fired thermal generation and improves transmission infrastructure, the focus remains on building a sustainable energy ecosystem capable of supporting both domestic industrialization and regional electricity exports.

Ghanaian Financial Institutions and International Partners Mobilize Over $550 Million to Revolutionize Agricultural and Green Financing
business|

Ghanaian Financial Institutions and International Partners Mobilize Over $550 Million to Revolutionize Agricultural and Green Financing

Ghana's financial sector is undergoing a significant shift toward sustainable and large-scale agricultural support, anchored by major new funding facilities and strategic calls for industry-wide reform. Absa Bank Ghana, in partnership with the International Finance Corporation (IFC), has launched a $50 million unfunded risk participation facility specifically designed to bolster the cocoa sector. This initiative, supported by the Global Agriculture and Food Security Program, aims to provide critical financing to Licensed Buying Companies, ensuring that over 139,000 smallholder farmers maintain market access while adopting sustainable farming practices aligned with the Paris Agreement. This move coincides with a broader push for agricultural modernization, with industry experts like Kojo Akoto Boateng urging banks to collaborate with the government to mobilize an ambitious $10 billion for medium- and large-scale farming over the next five years. Parallel to these efforts, the deployment of a $500 million World Bank-supported Oil Palm Development Finance Window has sparked calls for a decentralized approach to maximize local impact. Dr. Maxwell Commey, CEO of Oro Oil Ghana Limited, has emphasized that the Ghanaian government must prioritize smallholder farmers and community-level processing to ensure the fund creates jobs and reduces transportation costs. By focusing on existing mills and inclusive schemes, Dr. Commey argues that the funding can build more resilient rural economies that align with national policies for sustainable oil palm production. This sentiment is echoed by Ecobank’s Charllote Amanquah, who advocates for deeper collaboration between commercial banks, development institutions, and the Ghana Commodity Exchange to move away from isolated financial interventions. Sustainability is also becoming a non-negotiable requirement for Ghanaian Small and Medium-sized Enterprises (SMEs), which constitute 92% of registered businesses and contribute 70% of the national GDP. Access Bank Ghana has intensified its advocacy for green financing, warning that SMEs can no longer ignore the tangible impacts of climate change, such as rising energy costs and supply chain disruptions, on their financial statements. Through workshops in collaboration with Birmingham City University, Access Bank is working to bridge the information gap that currently prevents many SME owners from accessing green capital. The bank emphasizes that businesses demonstrating strong environmental practices will not only become more resilient but will also qualify for more favorable financing terms. To ensure these financial flows result in actual growth, financial leaders are demanding greater accountability and measurable outcomes. Ecobank has highlighted that green finance must deliver clear benefits, such as documented energy and water savings or avoided emissions, rather than remaining a theoretical concept. Following the Ecobank Joy Business Financial Dialogue, the bank noted that agricultural businesses require more than just capital; they need improved record-keeping, market clarity, and a deeper awareness of the specialized tools available to them. As Ghana transitions into a more climate-conscious economic era, the success of these multi-million dollar initiatives will depend on the ability of financial institutions to implement practical, transparent, and inclusive financing models that reach the roots of the agricultural value chain.

Passengers are seen boarding and disembarking a white aircraft at Kotoka International Airport in Accra. The scene captures the daily activity at Ghana's main aviation hub, with ground crew in high-visibility vests assisting travelers. The aircraft features the Ghanaian flag on its tail, and the terminal building is clearly visible in the background.
business|

High Domestic Airfares in Ghana Spark Public Outcry as Stakeholders Call for Government Intervention

The Ghanaian government is facing mounting pressure to address the exorbitant cost of domestic air travel following a series of reports and public debates highlighting a significant price disparity between Ghana and its regional peers. A recent survey by CUTS International revealed that return economy fares from Accra to Kumasi can range from $275 to $522, while flights to Tamale reach as high as $565. These figures stand in stark contrast to domestic routes in other developing nations, such as Nigeria ($152), Kenya ($166), and India ($133), as well as short-haul flights in Europe where fares can be as low as $52. This pricing gap has rendered air travel nearly inaccessible for the average worker and family, fueling concerns that Ghana’s aviation sector is being constrained by a broader "pricing culture" that affects various sectors of the economy. Industry experts point to several structural factors driving these high costs, most notably the lack of competition in a market currently dominated by only two main operators: PassionAir and Africa World Airlines (AWA). This limited market density reduces the incentive for price competition. Furthermore, airlines are grappling with heavy operational burdens, including the high cost of Jet A-1 fuel, which accounts for 30% to 35% of total operating expenses. The industry is also highly vulnerable to foreign-exchange fluctuations, as most costs—including aircraft maintenance and spare parts—are denominated in US dollars while revenue is collected in the local currency. High fixed airport infrastructure charges and government-imposed fees further inflate the final ticket price passed on to consumers. In response to these challenges, stakeholders and consumer protection advocates are urging the government to implement a comprehensive review of the aviation sector’s cost structure. Recommended interventions include reducing airport infrastructure charges, managing fuel costs more effectively, and creating a more attractive environment for low-cost carriers to enter the market. While the government has already introduced some measures, such as tax and duty relief on imported aircraft spare parts, analysts suggest more aggressive policy shifts are needed to foster true competition. Aviation analyst Dr. Dominic Andoh has expressed some optimism, forecasting a potential easing of airfares within the next six months as these operational changes and tax reliefs begin to impact the bottom line for domestic carriers.

Mahama Ayariga, Minister of Local Government, Chieftaincy and Religious Affairs, speaking at the event, while Richard Ofori-Agyeman Boadi, KMA Chief Executive, looks on
business|

Afreximbank and GIIF Back $11.5 Billion 24-Hour Economy Pipeline as Kejetia Market and Tourism Digitalization Drive Ghana's Growth

Ghana’s economic landscape is undergoing a significant transformation with the formalization of major investment frameworks and the resumption of critical infrastructure projects. At the forefront is the signing of a Joint Project Preparation Facility (JPPF) Framework Agreement between Afreximbank, the Ghana Infrastructure Investment Fund (GIIF), and the 24-Hour Economy Authority. This strategic partnership aims to unlock an investment pipeline valued at approximately $11.5 billion, signaling a robust push toward President John Mahama’s 24-Hour Economy agenda. The collaboration is designed to bridge the gap between policy ambition and operational reality by creating a steady stream of bankable projects. The JPPF initiative addresses the critical challenge of project readiness, which often hinders large-scale investment. Afreximbank and GIIF have each committed initial funding of $5 million, totaling $10 million, specifically for project preparation activities rather than immediate construction. This funding is aimed at ensuring that priority projects in sectors such as energy, logistics, manufacturing, tourism, and healthcare are well-structured and investment-ready. Beyond mere financing, the agreement emphasizes capacity building within GIIF to foster a sustainable internal ecosystem for long-term infrastructure planning and institutional expertise. Complementing these macro-economic initiatives, Local Government Minister Mahama Ayariga has announced that construction on the Kejetia Market Redevelopment Phase II is set to resume this October. Following a memorandum of understanding with the project firm, Contracta, the facility is expected to be completed within 18 months. Currently, engineering stands at 99% completion, though overall construction remains at 68%. Despite funding challenges arising from the Domestic Debt Exchange Programme, the government is moving forward with a remaining project balance of –38 million. Once finished, the market will significantly boost local commerce with over 7,000 stalls, 120 food courts, and dedicated spaces for 3,000 traders. Parallel to physical infrastructure, the Ghana Tourism Authority (GTA) is leading a digital reset to enhance the sector’s administrative efficiency and economic footprint. CEO Maame Efua Houadjeto recently detailed the rollout of the Ghana Tourism Information System (GTIS), which will centralize registration, licensing, and tourism levy payments. This digital overhaul is expected to improve transparency and compliance while making the tourism ecosystem more integrated. Speaking at the Greater Accra Regional Tourism Awards, officials noted that Accra’s cultural richness provides a foundation for growth that digital tools will help monetize through increased visitor spending and domestic tourism promotion. Together, these developments represent a multifaceted approach to revitalizing Ghana’s economy through both structural policy and physical redevelopment. From the $11.5 billion pipeline for the 24-Hour Economy to the revitalization of the Kumasi business hub at Kejetia and the digitalization of the tourism sector, the government is prioritizing projects that create jobs and foster exports. The success of these initiatives will ultimately depend on the effective transition of projects from the preparation phase to operational reality, ensuring they deliver tangible value and long-term stability to the Ghanaian economy.

A man in a formal suit and glasses addresses the press, flanked by officials including a uniformed officer from the Ghana Revenue Authority's Customs division. The scene captures a media briefing with microphones from TV3 and Channel One TV visible in the foreground.
business|

Ghana Revenue Authority Launches Strategic Drive to Halve VAT Gap by 2028 Through Digital Transformation

The Ghana Revenue Authority (GRA) has unveiled an ambitious roadmap to significantly improve tax revenue collection, targeting a reduction in the Value Added Tax (VAT) gap from 60% to 30% by the end of 2028. Central to this objective is the newly launched VAT Strategic Plan and a nationwide VAT Compliance Campaign. Dr. Martin Kolbil Yamborigya, Commissioner for the Domestic Tax Revenue Division, emphasized that the initiative focuses on broadening the tax base and fostering a culture of voluntary compliance among businesses and citizens alike. The campaign represents a shift in strategy, moving away from immediate punitive measures toward a more engagement-led approach to address non-compliance. A cornerstone of this modernization effort is the introduction of the Integrated Tax Administration System (ITAS), a digital platform designed to streamline tax processes across the country. ITAS aims to unify various tax functions through features such as self-service account activation, automated workflows, and seamless integration with national databases. Beyond ITAS, the GRA is rolling out other digital initiatives including e-invoicing and the Sentinel project to enhance transparency. Dr. Yamborigya noted that these platforms are essential for improving data management and simplifying the taxpayer experience, though he reminded businesses that maintaining proper documentation remains critical for successful VAT refund claims. While the GRA intensifies its monitoring, the Ghana Union of Traders’ Associations (GUTA) has appealed for a balanced approach to enforcement. GUTA President Clement Boateng urged the tax authority to apply a human face during compliance visits, advocating for a friendly and accommodating demeanor from GRA officers. During the launch of the compliance campaign, Boateng stressed that cooperation between the state and the private sector is vital for success. He encouraged traders to comply with tax laws while simultaneously calling on the GRA to prioritize education, ensuring that both business owners and consumers fully understand the mechanics and benefits of the VAT system. The ongoing compliance visits, including recent exercises at high-traffic locations like the Accra Mall, have already identified gaps where businesses fail to issue VAT invoices consistently. Rather than applying harsh penalties immediately, the GRA is utilizing these encounters to educate vendors on their legal obligations. As the authority moves toward its 2028 goal, the synthesis of digital tools like ITAS and a more collaborative relationship with trade unions like GUTA is expected to create a more transparent and efficient fiscal environment. This strategic shift reflects a broader national commitment to using taxation as a sustainable engine for development.

,.Chipper Cash launches bank-backed virtual accounts with UMB
business|

Ghana's Fintech Sector Surges as Visa, Access Bank, and Chipper Cash Introduce New Digital Payment Solutions

Ghana's digital financial landscape is undergoing a significant transformation as a wave of new fintech solutions and strategic partnerships aim to bring small businesses and the informal sector into the formal economy. At the forefront of this movement, Visa and Access Bank (Ghana) Plc. have launched 'Visa Accept,' a groundbreaking digital solution that allows micro, nano, and small merchants to accept contactless card payments directly on their smartphones. This eliminates the need for expensive traditional Point of Sale (POS) hardware, allowing small vendors to create seller profiles on the Access Bank mobile app and start processing payments almost instantly. According to Fabrice Konan, Visa's Country Manager for Ghana, and Eugene Ocansey of Access Bank, the initiative is designed to overcome historical barriers to digital adoption and meet the rising consumer demand for secure, contactless transactions. Adding to the momentum in the banking sector, African fintech leader Chipper Cash has successfully integrated with Universal Merchant Bank (UMB) to launch bank-backed virtual accounts. This collaboration, which received regulatory approval from both the Bank of Ghana and the Securities and Exchange Commission, enables Chipper Cash to manage virtual accounts for its customers, significantly expanding access to diverse financial services. Simultaneously, Enza Payment Services Ghana Limited has officially launched its operations to provide high-tech payment infrastructure for banks and other fintechs. Managing Director Kwesi Asiama Acquah noted that Enza will utilize artificial intelligence and advanced APIs to bridge the technology gap between financial institutions and consumers, focusing on a B2B model to strengthen the overall payment ecosystem. In addition to payment processing, new platforms are emerging to support communal and social fundraising. Telecel Mobile Financial Services, in partnership with Absa Bank and AppsNmobile Solutions, recently unveiled 'FUNDiT,' a secure crowdfunding platform. Designed to foster trust through a rigorous verification process, FUNDiT allows individuals and organizations to raise funds for social causes and projects, accepting contributions from all mobile money networks and bank cards. Philip Amoateng, Managing Director of Telecel, emphasized that the platform's goal is to provide a transparent and accessible way for Ghanaians to mobilize capital for impactful community initiatives. The rapid pace of innovation is further evidenced by the massive response to the 2026 MoMo Fintech Lab, which has attracted nearly 1,000 entries from innovators across the country. Over half of these applications focus on everyday payments and financial access, highlighting a localized push to solve practical economic challenges. As Ghana continues to reimagine financial inclusion, these advancements—ranging from contactless smartphone payments to AI-driven infrastructure and crowdfunding—are collectively working to integrate underserved populations into the formal financial system, ensuring that the country's economic future is both digital and inclusive.

Ghana’s Public Debt Surges to GH¢733.9 Billion as Cedi Depreciation Nears 10%
business|

Ghana’s Public Debt Surges to GH¢733.9 Billion as Cedi Depreciation Nears 10%

Ghana’s public debt stock reached GH¢733.9 billion in July 2026, marking a significant GH¢14.4 billion increase from the previous month. According to the Bank of Ghana’s latest Summary of Economic and Financial Data, this figure represents approximately 45.1% of the country’s Gross Domestic Product (GDP). The debt has been on a consistent upward trajectory since January 2026, when it stood at GH¢663.4 billion, driven primarily by intensified domestic borrowing and losses incurred through exchange rate fluctuations under the administration of President John Mahama. A breakdown of the debt components reveals that domestic debt has climbed to GH¢396.7 billion, accounting for 24.8% of GDP. On the international front, external debt was recorded at US$28.8 billion. Despite the rising debt stock, the country’s fiscal performance showed mixed results; while the overall fiscal balance-to-GDP ratio recorded a cash deficit of 0.6%, the primary balance maintained a surplus of 1.0% of GDP in July 2026. This surplus suggests that government revenue, excluding interest payments, remains sufficient to cover basic expenditure. Parallel to the debt rise, the Ghana cedi is facing renewed pressure in the foreign exchange market, depreciating by 9.5% against the US dollar to trade at approximately GH¢11.55. This decline marks a reversal from the currency's performance in 2025, when it saw a 29% appreciation. The cedi has also weakened against other major currencies, losing 9.0% against the British pound and 7.3% against the euro. The Bank of Ghana has characterized these movements as standard exchange-rate volatility, though the current trend highlights the currency's sensitivity to shifting market demands. Economic analysts and international institutions, including the World Bank, attribute the cedi's vulnerability to several key factors. High demand for foreign exchange within the energy sector and significant corporate dividend payments have been identified as primary drivers of the depreciation. Additionally, seasonal demand shifts and corporate cash outflows continue to test the market's resilience. While a trade surplus has provided some foreign exchange inflows, the pressure remains high as the government seeks to manage these seasonal vulnerabilities. In response to these challenges, the Bank of Ghana has introduced a new foreign-exchange operations framework designed to provide a more structured approach to market interventions. The central bank aims to stabilize the currency and manage volatility more effectively through these streamlined processes. As the administration continues to navigate these fiscal and monetary pressures, the focus remains on maintaining the primary surplus while curbing the pace of debt accumulation to ensure long-term economic stability.

A graphic depicting a person pushing a wheelbarrow loaded with two yellow water containers, commonly used for water collection in Ghana. The scene is overlaid with large, bold white text that reads '$235M JUDGMENT DEBT' against a sepia-toned, crowded background.
business|

Ghana Ordered to Pay US$235 Million in ICC Arbitration Over Teshie-Nungua Desalination Plant

An international arbitration tribunal operating under the International Chamber of Commerce (ICC) has ordered Ghana Water Limited (GWL) to pay US$235 million to Befesa Desalination Developments Ghana Limited (BDDG). The ruling, delivered in September 2026, stems from the termination of a Water Purchase Agreement (WPA) related to the Teshie-Nungua Desalination Plant. The awarded amount is net of taxes, with interest set to accrue from April 1, 2026. The tribunal also dismissed substantial counterclaims from the Ghanaian utility provider, which had sought US$144.5 million from the developers. As the state serves as the ultimate guarantor for the project, the government of Ghana now faces a significant financial liability that nearly doubles the plant’s original construction cost. Commissioned in 2015 for approximately US$126 million, the Teshie-Nungua plant was designed to alleviate chronic water shortages by producing 60,000 cubic meters of water daily for roughly 500,000 residents. However, the project was plagued by a fundamental economic mismatch: the cost of producing desalinated water was significantly higher than the price Ghana Water Limited was legally permitted to charge consumers. This financial gap, combined with reported structural defects and mounting maintenance issues, led to a breakdown in the partnership. The facility has been largely non-operational since October 2025, leaving the very communities it was meant to serve in a state of crisis. The legal dispute escalated in October 2024 when BDDG initiated arbitration proceedings following the deterioration of the contractual relationship. During the proceedings, it was revealed that GWL had only managed to pay a fraction of the debts associated with the plant, leading to the massive judgment debt. While the legal battle played out in international courts, residents in Teshie, Nungua, and surrounding areas have been forced to rely on expensive private water tankers and alternative informal sources due to prolonged water rationing and the idleness of the multi-million dollar facility. Despite the finality of the ICC award, discussions for an amicable resolution between the government and the Spanish investors are reportedly ongoing. These negotiations aim to find a sustainable path forward that might involve reactivating the plant and settling the debt in a manner that does not further destabilize the national economy. The situation remains a stark example of the risks associated with high-stakes public-private partnerships and serves as a call for more rigorous contract management in Ghana’s utility sector to prevent future judgment debts of this magnitude.

Ghana’s economic revival:
business|

Bank of Ghana Governor Dr. Johnson Asiama Signals Caution as Reserve Pressures Mount Amid Robust 6% GDP Growth

Ghana’s economy is demonstrating a significant turnaround in 2026, characterized by a robust 6.0% GDP growth rate in the second quarter and a stabilized, though rising, inflation rate of 5.0% as of August. This recovery has drawn international praise, with business magnate Aliko Dangote and International Finance Corporation (IFC) Managing Director Makhtar Diop commending President John Mahama’s administration for revitalizing investor confidence and fostering a stable macroeconomic environment. Despite this positive momentum, the Bank of Ghana (BoG) remains vigilant as it navigates emerging external and domestic pressures that threaten to complicate the nation’s fiscal trajectory. During the 132nd Monetary Policy Committee (MPC) meeting held in late September 2026, Governor Dr. Johnson Asiama highlighted a notable decline in gross international reserves, which fell from $12.94 billion in June to $11.4 billion by the end of August. Although reserves rebounded slightly to $12.04 billion by September 22, providing approximately 4.2 months of import cover, the Governor warned of a projected current account deficit for the third quarter. This strain is attributed to a slowdown in gold shipments and an increase in service payments, prompting the MPC to evaluate whether the current 14% policy rate is sufficient to maintain price stability and support ongoing economic activity. A significant factor impacting the nation’s external position is a pause in gold exports by the Ghana Gold Board (GoldBod) since mid-August 2026. This follows a report detailing a GH¢3.78 billion net supply gap in gold deliveries to the central bank during 2025, where actual supplies of 80.8 tonnes fell short of projected values. While policy analysts have praised GoldBod for its transparency in reporting these variances, the halt in exports has created immediate liquidity concerns. Simultaneously, the banking sector has shown signs of improved health, with the Non-Performing Loan (NPL) ratio dropping from 23.1% to 16.1% over the past year, though banks still recorded GH¢1.23 billion in loan losses in the first half of 2026. External global shocks are further complicating Ghana’s economic outlook. The ongoing Middle East crisis has driven Brent crude prices to $107 per barrel, increasing energy and fertilizer costs that could exacerbate domestic inflationary pressures. Dr. Asiama noted that while higher gold prices offer a potential boost to export earnings, the strengthening US dollar and tightening global financial conditions are weighing heavily on the cedi. Moving forward, the Bank of Ghana emphasizes the need for disciplined fiscal management and the rebuilding of foreign assets to insulate the economy from these global volatilities and ensure that the current stability translates into long-term prosperity.

Ghanaian Business Growth Driven by Tourism Digitalization, Banking Expansion, and Mining Talent Recruitment
business|

Ghanaian Business Growth Driven by Tourism Digitalization, Banking Expansion, and Mining Talent Recruitment

Ghana's economic landscape is undergoing a significant transformation as key sectors embrace digital modernization and physical expansion to drive growth. From the implementation of a "digital reset" in the tourism industry to the strategic relocation of banking facilities in the capital, businesses are prioritizing efficiency and customer experience. These developments, coupled with a renewed focus on technical expertise in the mining sector, signal a robust effort to streamline national administration and bolster economic returns across the board as the country navigates late 2026. The Ghana Tourism Authority (GTA) is spearheading this shift with a comprehensive digital overhaul aimed at enhancing the sector's economic impact through the Ghana Tourism Information System (GTIS). CEO Maame Efua Houadjeto announced the "digital reset" during the Greater Accra Regional Tourism Awards, identifying the GTIS as the cornerstone for automating registration, licensing, and tourism levy payments. This transition is expected to improve transparency and foster a more integrated tourism ecosystem. The initiative's focus on data-driven growth was highlighted alongside the recognition of industry leaders, including Labadi Beach Hotel, which was named the Five-Star Hotel of the Year for its continued excellence. In the financial services sector, OmniBSIC Bank has reinforced its commitment to customer-centric growth by relocating its Dome branch to a larger, state-of-the-art facility. Branch Manager Theodore Takyi and Zone Manager Hannah Esi Dadzie emphasized that the move is part of a strategic initiative to reduce wait times and provide a benchmark for service quality within the bank's 41-location network. The relocation reflects the bank's evolution since the merger of OmniBank and Sahel Sahara Bank, focusing on deepening community ties and capturing new opportunities within the Dome enclave, a move supported by local traditional leadership. Complementing these service-oriented advancements, Ghana's extractive industry is intensifying its focus on technical precision and resource development. A major domestic mining firm has opened recruitment for an experienced Senior Geologist to lead critical workstreams in mine geology and infill drilling. The role is pivotal for improving orebody knowledge and ensuring that practical mine planning is rooted in high-quality geological data. With an application deadline of October 7, 2026, the recruitment drive highlights the ongoing demand for specialized talent to sustain productivity and technical reporting standards in the mining sector. These diverse activities—ranging from public sector digitalization to private sector expansion—illustrate a unified push toward a more integrated and sophisticated Ghanaian economy. As the GTA works to boost visitor spending and domestic tourism through better data usage, and as financial institutions like OmniBSIC modernize their physical footprint, the nation is positioning itself for sustained economic resilience. The synergy between technological adoption in tourism and technical expertise in mining suggests a forward-looking strategy aimed at maximizing the value of both service and natural resource sectors.

Industry Stakeholders Urge Structural Reforms in Creative Arts and Floriculture to Boost Ghana’s Economy
business|

Industry Stakeholders Urge Structural Reforms in Creative Arts and Floriculture to Boost Ghana’s Economy

Ghanaian industry leaders and government officials are calling for strategic investments and legislative reforms to strengthen the nation's creative and horticultural sectors. Recent advocacy highlights two critical areas: the need for robust intellectual property (IP) frameworks to protect creative exports and the urgent development of a local floricultural industry to offset a nearly $1.5 million annual import bill. These efforts aim to retain more value within the domestic economy while leveraging Ghana’s cultural and natural assets to foster sustainable growth. At the Afro Caribbean Creative Bridge forum, organized by the World Intellectual Property Organization (WIPO) and the Ministry of Tourism, Culture, and Creative Arts, stakeholders emphasized that copyright protection is essential for financial empowerment. Minister Dzifa Abla Gomashie underscored the importance of effective copyright management systems to ensure that creators receive fair compensation for their work. Renowned musician Rocky Dawuni echoed these sentiments, describing Africa’s creative wealth as a vital cultural asset that requires strong legal protection to thrive in competitive international markets. The forum sought to foster deeper cooperation between Africa and the Caribbean to address shared challenges in the global creative economy. Simultaneously, the Department of Parks and Gardens is sounding the alarm over Ghana’s reliance on imported flowers, which currently costs the country approximately $1.49 million every year. Antoinette Enyonam Amegbletor, the department's administrator, argued that Ghana is overlooking both the economic and therapeutic potential of floriculture. Despite the country's ideal tropical climate for cultivation, a lack of investment has led to a heavy dependence on foreign products. Amegbletor advocated for the integration of greenery into urban planning and healthcare facilities, noting that local plant propagation—supported by initiatives like "Green Ghana"—could significantly improve public well-being while creating jobs and saving foreign exchange. These developments reflect a growing recognition that economic stability in Ghana depends on diversifying beyond traditional exports. Whether through the enforcement of intellectual property rights for artists or the revitalization of local agriculture, the common goal remains the same: creating a more self-reliant and sustainable economic environment. Moving forward, the success of these sectors will depend on the government’s ability to implement enforceable legal frameworks and provide the necessary infrastructure for local entrepreneurs to scale their operations.

Delegation and industry stakeholders after the launch
business|

Ghana Industries & Manufacturing Awards 2026 Celebrates Innovation as Delta Equipment Expands Industrial Machinery Portfolio

The fourth edition of the Ghana Industries & Manufacturing Awards (GIMA) 2026 has set a new benchmark for the nation's industrial landscape, gathering key stakeholders at the Mövenpick Ambassador Hotel in Accra. Under the theme "Building the Next Industrial Era of Ghana," the event underscored a collective commitment to domestic production and high-quality manufacturing. This focus on industrial excellence coincides with significant private sector investments in heavy machinery, such as the introduction of the SEM global equipment brand by Delta Equipment Limited, aimed at boosting productivity across the agriculture and construction sectors. During the awards ceremony, industry leaders emphasized the critical role of quality assurance and inter-industry collaboration. Nana Kwadwo Marfo Ampong I highlighted that "Made in Ghana" must become synonymous with superior quality, while Madam Hannah A. Mensah of the Ghana Standards Authority (GSA) urged businesses to comply with rigorous standards to build consumer trust. Sam Bilson of Imperial Communications further advocated for enhanced business-to-business (B2B) trade within Ghana to strengthen local supply chains and improve global competitiveness. Diplomatic representatives in attendance also discussed the vast opportunities for Ghanaian businesses to scale through regional cooperation and international market entry. A standout achievement at the GIMA 2026 was the recognition of Maison Yusif Fragrance, which secured the "Innovative Luxury Fragrance Brand of the Year" title for the third consecutive year. Founded in 2017 by Yusif Meizongo Jnr, the brand exemplifies the fusion of Ghanaian heritage with global standards. By handcrafting luxury perfumes that have already reached high-end retail environments in New York, Maison Yusif serves as a prime example of how local craftsmanship can successfully penetrate the international luxury segment. Complementing this drive for manufacturing excellence, Delta Equipment Limited, a subsidiary of the Mantrac Group, has expanded its footprint by launching SEM machinery in the Ghanaian market. The brand's introduction included demonstrations of the SEM 656F Wheel Loader, SEM 824F Dozer, SEM 512 Compactor, and SEM 920F Motor Grader. Managing Director Graham Dickinson stated that these machines are designed to provide cost-effective and dependable solutions for the nation's infrastructure and agricultural projects. Since its founding in 2010, Delta Equipment has supported the sector with technical training and parts support to ensure maximum machine performance and longevity. These developments highlight a dual-track approach to Ghana’s economic growth: fostering a culture of award-winning manufacturing quality while ensuring the availability of robust industrial equipment. As the country moves toward its next industrial era, the combination of stringent quality standards and modernized machinery is expected to enhance Ghana's reputation as a competitive industrial hub. The success of both heavy industry suppliers and boutique luxury brands demonstrates a diversifying economy ready for broader international engagement.