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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.

Ghana's Parliament Approves GH¢357 Billion Budget for 2026 Fiscal Year
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Ghana's Parliament Approves GH¢357 Billion Budget for 2026 Fiscal Year

Ghana’s Parliament has officially approved a budget totaling GH¢357,105,639,080 for the 2026 fiscal year, following the passage of the Appropriation (No. 2) Act, 2025. This budget is designed to facilitate government operations and development initiatives from January 1 to December 31, 2026. Key allocations from the Consolidated Fund will be directed towards various Ministries, Departments, and Agencies (MDAs). Additionally, selected institutions are permitted to retain and utilize GH¢18,180,717,613 from their internally generated funds (IGF). This budget underscores the government's commitment to effective fiscal management and strategic resource allocation aimed at fostering economic growth in the country.

Richard Nii Armah Quaye Launches New Food Bank in Techiman to Combat Hunger
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Richard Nii Armah Quaye Launches New Food Bank in Techiman to Combat Hunger

Ghanaian entrepreneur Richard Nii Armah Quaye has officially opened a new branch of his food bank initiative in Techiman on December 20, 2025. This marks the 13th branch since the organization was launched in August 2025, reflecting Quaye's ongoing commitment to combating food insecurity across Ghana. The food bank aims to provide free meals to the community, allowing families to redirect their resources towards essential needs such as education and healthcare. Emmanuel Lamptey, CEO of Quick Angel Limited, represented Quaye at the opening ceremony, highlighting the foundation's dedication to eradicating hunger in the region. The initiative has garnered overwhelming support from the local community, who expressed gratitude for the service, believing it will significantly enhance their quality of life and contribute to social stability.

Ghanaian Cocoa Farmers Struggle Despite Surge in Global Prices
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Ghanaian Cocoa Farmers Struggle Despite Surge in Global Prices

Randy Abbey, CEO of Ghana Cocoa Board, has raised alarms regarding the plight of cocoa farmers in Ghana, who have not benefited from a significant rise in global cocoa prices over the past eighteen months. While international prices soared to approximately $12,000 per tonne, local farmers continue to grapple with severe financial challenges, primarily due to excessive debt and difficulties in fulfilling contracted cocoa quantities during the 2023 crop season. Abbey highlighted that despite making substantial adjustments to producer prices, the anticipated advantages for farmers have not materialized, leaving them in a precarious situation. This scenario underscores the ongoing struggles within the cocoa sector, where external price increases do not translate into improved livelihoods for local producers.

Trade Minister Calls for Local Sourcing to Boost Ghana's Manufacturing Sector
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Trade Minister Calls for Local Sourcing to Boost Ghana's Manufacturing Sector

In a recent address, Ghana's Minister of Trade, Agribusiness and Industry, Elizabeth Ofosu-Adjare, emphasized the importance of local sourcing for raw materials among the country’s manufacturing firms. This initiative aims to enhance job creation and promote sustainable industrialization within the nation. Ofosu-Adjare's remarks come in light of GB Foods’ upcoming plans to engage fully in commercial farming, targeting a local sourcing rate of 90-100% for its raw materials next year. She praised GB Foods for its operational excellence and significant contributions to the local economy through job creation and exports. Additionally, the Minister announced government support for local garment manufacturers and plans to establish new garment plants, which will help reduce reliance on foreign production. This strategy is part of a broader vision to position Ghana as a key industrial hub in Africa, reinforcing the need for a robust local manufacturing sector.