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.

NPA Hikes Fuel Price Floors for February as Ghana's Oil Marketing Companies Begin Pump Price Adjustments
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NPA Hikes Fuel Price Floors for February as Ghana's Oil Marketing Companies Begin Pump Price Adjustments

The National Petroleum Authority (NPA) has officially implemented new minimum price levels for petroleum products for the first half of February 2026, triggering a wave of price adjustments across Ghana's retail fuel market. Effective from February 1 to February 15, the directive mandates that no Oil Marketing Company (OMC) or Liquefied Petroleum Gas Marketing Company (LPGMC) sells below the established thresholds. This regulatory move coincides with a broader market trend of rising costs, with industry experts projecting retail increases between 2% and 5% per litre across several pump stations in the coming days. Under the new guidelines, the price floor for diesel has been set at GH¢10.95 per litre, up from GH¢10.47, while petrol is pegged at GH¢9.99 per litre, an increase from GH¢9.80. Liquefied Petroleum Gas (LPG) is now priced at GH¢9.05 per kilogram. Major market players have already begun aligning their prices with these floors. For instance, market leader Star Oil has raised its petrol price to exactly GH¢9.99 while keeping diesel at the GH¢10.95 minimum. Zen Petroleum also revised its rates, adjusting petrol to GH¢9.99 and diesel to GH¢11.44, with these changes taking effect by February 2. The upward revision is primarily driven by the dual impact of a weakening Ghanaian cedi and a surge in international crude oil prices. Within a brief window, global crude prices jumped from approximately $64 to nearly $70 per barrel, while the cedi depreciated by 0.77%, moving from GH¢10.90 to GH¢10.98 against the US dollar. The NPA maintains that the price floor policy, originally introduced in April 2024, is essential to prevent market distortions and curb aggressive undercutting practices that could jeopardize the financial sustainability of the downstream petroleum sector. Despite the NPA’s aim for market stability and transparency, the policy remains a point of significant contention within the industry. Star Oil notably exited the Chamber of Oil Marketing Companies (COMAC) in protest, arguing that the price floors restrict competitive pricing and prevent companies from passing savings to consumers. While COMAC has generally supported the measure to ensure the health of the sector, the Chamber noted that intense competition is currently forcing most firms to price their fuel only marginally above the official floor. As more OMCs finalize their reviews, the Bank of Ghana remains focused on maintaining price stability amidst these shifting economic dynamics.

Bosome Freho District Embraces ‘Nkoko Nketenkete’ Initiative to Boost Local Poultry Production
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Bosome Freho District Embraces ‘Nkoko Nketenkete’ Initiative to Boost Local Poultry Production

Residents of the Bosome Freho District have warmly received the launch of the ‘Nkoko Nketenkete’ initiative, a government-led program designed to revitalize local poultry production and enhance food security across Ghana. Officially introduced by the District Chief Executive (DCE), Charles Appiah-Kubi, the program is part of an ambitious national strategy to distribute approximately three million birds across 276 constituencies. This large-scale intervention is expected to provide direct support to an estimated 60,000 households, marking a significant effort to strengthen the agricultural foundation of local communities. The initiative focuses on making poultry products more affordable for the general public while ensuring increased access to essential protein-rich foods. By emphasizing the revival of backyard farming, the program seeks to create sustainable income streams for families and alleviate poverty in rural areas. During the launch, DCE Appiah-Kubi underscored the necessity of community cooperation and the professional management of the birds to ensure the program's long-term success. The project is framed as a key component of a broader vision to restore traditional farming practices as a viable economic activity for modern households. Local traditional leadership has also expressed strong support for the intervention. Nana Akwasi Adu, a prominent local leader, noted that poultry farming had seen a decline in recent years, particularly among the youth who have moved away from agriculture due to modernization. He praised the ‘Nkoko Nketenkete’ initiative for its potential to transform livelihoods and reignite interest in the sector. By providing the necessary resources and livestock, the government aims to bridge the gap between traditional practices and modern economic needs, encouraging a new generation of backyard farmers. As the distribution phase progresses, the focus remains on the effective implementation and monitoring of the birds’ health and productivity. The success of this initiative in the Bosome Freho District could serve as a model for other regions looking to achieve food self-sufficiency and economic resilience. By empowering individual households to contribute to the national food supply, the ‘Nkoko Nketenkete’ program represents a strategic step toward reducing the country’s dependence on poultry imports and building a more robust local economy.

UMaT Honors Business Mogul Ibrahim Mahama with Honorary Doctorate for Decades of Industry Leadership
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UMaT Honors Business Mogul Ibrahim Mahama with Honorary Doctorate for Decades of Industry Leadership

The University of Mines and Technology (UMaT) has conferred an honorary Doctor of Science degree upon prominent Ghanaian businessman and philanthropist Ibrahim Mahama. The ceremony, held during the university’s 18th Special Congregation on January 31, 2026, recognized Mr. Mahama’s nearly 30-year contribution to the mining and construction sectors in West Africa. The high-profile event was attended by notable figures, including President John Dramani Mahama and former President John Agyekum Kufuor, who joined the academic community in celebrating the founder of Engineers & Planners (E&P) for his transformative impact on the nation's industrial landscape. Since founding Engineers & Planners in 1997, Ibrahim Mahama has steered the firm to become the largest indigenous mining company in West Africa. A central theme of the recognition was his leadership in localizing the mining industry, most notably through the Black Volta Gold Project. This venture stands as a milestone in Ghanaian economic history, representing the first large-scale gold mining asset to be 100% Ghanaian-owned. During his acceptance speech, Mahama encouraged the graduating class to look beyond traditional educational paths, emphasizing that vision, discipline, and unwavering determination are the true catalysts for success in the global business arena. The ceremony also highlighted the growing intersection of technology and industry. Mr. Mahama praised UMaT’s collaboration with the Ghana Chamber of Mines in establishing an AI Robotics Centre, noting that such innovations are critical for the future of the sector. President John Dramani Mahama shared personal reflections during the event, reminiscing about his brother’s entrepreneurial spirit and business instincts which were evident from a young age. He described Ibrahim’s achievements as a testament to the potential for local entrepreneurs to drive national development and inspire a new generation of industrial leaders. In a move to ensure a lasting legacy and promote environmental stewardship, UMaT announced the establishment of the Ibrahim Mahama Institute for Precious and Green Ghana. This new institute is designed to research and promote sustainable mining practices, bridging the gap between resource extraction and environmental conservation. As the mining industry faces increasing pressure to adopt green technologies, this partnership between UMaT and the Mahama brand signals a commitment to ensuring that Ghana’s natural wealth is managed responsibly and for the benefit of future generations.

Government Launches 'Nkoko Nketenkete' Poultry Initiative in Bosome Freho to Boost Local Production
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Government Launches 'Nkoko Nketenkete' Poultry Initiative in Bosome Freho to Boost Local Production

Residents of the Bosome Freho District have welcomed the official launch of the government’s ‘Nkoko Nketenkete’ initiative, an ambitious program designed to revitalize local poultry production across the country. Spearheaded by District Chief Executive (DCE) Charles Appiah-Kubi, the initiative involves the distribution of approximately three million birds to 276 constituencies nationwide. This large-scale intervention is expected to benefit an estimated 60,000 households, signaling a significant push toward enhancing domestic food security and providing sustainable livelihoods for rural families. The core objective of the program is to increase the availability of poultry products, thereby making protein-rich foods more affordable for the average Ghanaian household. According to Mr. Appiah-Kubi, the initiative aligns with a broader national vision for revived backyard farming, aimed at empowering individuals to take control of their food sources and economic well-being. By reintroducing poultry farming at the household level, the government hopes to alleviate poverty and strengthen local incomes, creating a buffer against fluctuating market prices for meat and eggs. Local leadership has expressed strong support for the project, noting its potential to reverse recent trends in the agricultural sector. Nana Akwasi Adu, a traditional leader in the district, highlighted that modernization had led to a decline in interest in farming among the youth. He praised the ‘Nkoko Nketenkete’ initiative for its potential to transform residents' livelihoods and revive traditional farming practices that were once the backbone of the community. For the program to succeed, however, stakeholders emphasized the necessity of community cooperation and the diligent management of the distributed birds. As the distribution begins, the focus shifts to the long-term sustainability of the initiative. The Bosome Freho District stands as a key beneficiary in a strategy that seeks not only to provide immediate resources but also to foster a culture of entrepreneurship within the agricultural space. By integrating job creation with food security goals, the initiative aims to build a more resilient local economy that can sustain itself through enhanced domestic production.

UMaT Confers Honorary Doctorate on Ibrahim Mahama for Decades of Leadership in Ghana's Mining Sector
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UMaT Confers Honorary Doctorate on Ibrahim Mahama for Decades of Leadership in Ghana's Mining Sector

On January 31, 2026, the University of Mines and Technology (UMaT) awarded an honorary Doctor of Science degree to renowned businessman and philanthropist Ibrahim Mahama during its 18th Special Congregation. The ceremony, attended by high-profile figures including President John Dramani Mahama and former President John Agyekum Kufuor, celebrated Mr. Mahama’s nearly three decades of transformative contributions to the mining and construction sectors. As the founder of Engineers & Planners (E&P), Mahama’s journey from establishing a small equipment rental firm in 1997 to leading West Africa’s largest indigenous mining company served as the central narrative of the event. Addressing the graduates, Mr. Mahama delivered an inspiring message that emphasized the importance of vision, discipline, and hard work over traditional academic pathways alone. He noted that while formal education is valuable, determination and a clear sense of purpose are the primary drivers of greatness. Reflecting on his own career, he encouraged the new cohort of professionals to pursue non-traditional paths to success, highlighting how local expertise can compete on a global scale. President Mahama echoed these sentiments, reminiscing about his brother’s entrepreneurial spirit and early business instincts that eventually paved the way for his national and regional impact. A significant highlight of the ceremony was the focus on Ghanaian ownership and technological advancement in the extractive industry. Mr. Mahama showcased the Black Volta Gold Project as a landmark achievement, noting its status as the first 100% locally owned large-scale gold mining asset in Ghana. He also commended UMaT’s collaboration with the Ghana Chamber of Mines in establishing an AI Robotics Centre, which aims to address modern technological challenges and opportunities within the sector. These initiatives underscore a shift toward indigenous leadership and high-tech integration in one of Ghana’s most vital economic engines. Looking toward the future, the university announced the establishment of the Ibrahim Mahama Institute for Precious and Green Ghana. This new institution will focus on promoting sustainable mining practices and environmental stewardship, ensuring that the industry evolves to meet modern ecological standards. By bridging the gap between industry excellence and academic research, the institute aims to solidify Mr. Mahama’s legacy as a proponent of "Green Ghana" initiatives. The conferment serves not only as a personal accolade for Mahama but also as a call to action for the next generation to drive innovation and local ownership in the country's natural resource management.

Government Launches ‘Nkoko Nketenkete’ Initiative to Boost Poultry Production in Bosome Freho District
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Government Launches ‘Nkoko Nketenkete’ Initiative to Boost Poultry Production in Bosome Freho District

Residents of the Bosome Freho District have enthusiastically welcomed the government’s ‘Nkoko Nketenkete’ initiative, a strategic program designed to revitalize local poultry production and enhance food security across Ghana. Formally launched by District Chief Executive (DCE) Charles Appiah-Kubi, the initiative is part of a broader national strategy to distribute approximately three million birds across 276 constituencies. The program is set to benefit an estimated 60,000 households, providing a sustainable pathway toward economic empowerment and improved nutrition at the grassroots level. The core objective of the ‘Nkoko Nketenkete’ initiative is to make poultry products more affordable for the average Ghanaian while increasing access to high-quality, protein-rich foods. By focusing on the revival of backyard farming, the government aims to alleviate poverty and strengthen household incomes. DCE Appiah-Kubi emphasized that the success of the program hinges on community cooperation and the diligent management of the livestock. He urged beneficiaries to treat the birds as a business venture that could transform their economic standing, aligning the project with a vision for agricultural resilience and local prosperity. Traditional authorities have also voiced their support for the project, highlighting its potential to re-engage the youth in agriculture. Nana Akwasi Adu, a prominent local leader, noted that the initiative could reverse the decline of interest in poultry farming, which many young people had abandoned in favor of modern urban pursuits. By integrating traditional farming practices with government support, the district hopes to create new job opportunities and ensure a steady supply of local poultry. Moving forward, the effective distribution and technical support for these households will be critical in determining the long-term impact of the initiative on the region’s socio-economic landscape.

UMaT Honors Ibrahim Mahama with Honorary Doctorate for Three Decades of Industry Leadership
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UMaT Honors Ibrahim Mahama with Honorary Doctorate for Three Decades of Industry Leadership

On January 31, 2026, the University of Mines and Technology (UMaT) conferred an honorary Doctor of Science degree upon prominent businessman and philanthropist Ibrahim Mahama. This recognition, awarded during the university’s 18th Special Congregation, honors Mahama’s nearly three-decade-long career in the mining and construction sectors. The high-profile ceremony was attended by notable figures including President John Dramani Mahama and former President John Agyekum Kufuor, celebrating Mahama’s professional evolution from the founder of a small equipment rental firm in 1997 to the leader of Engineers & Planners (E&P), West Africa’s largest indigenous mining company. In his acceptance speech, Mahama highlighted the significance of the Black Volta Gold Project, a major milestone for the nation as the first large-scale gold mining asset to be 100% Ghanaian-owned. He used the platform to inspire the graduating class, emphasizing that while formal education provides a critical foundation, vision, discipline, and hard work are the ultimate drivers of success. He encouraged graduates to pursue non-traditional paths and remain committed to their dreams, sharing reflections on his own journey of building a mining empire from the ground up through grit and determination. The ceremony also served as a launchpad for future-oriented academic and industrial initiatives. UMaT announced the establishment of the Ibrahim Mahama Institute for Precious and Green Ghana, a research body dedicated to promoting sustainable mining practices and environmental stewardship. Furthermore, Mahama praised the university’s collaboration with the Ghana Chamber of Mines in establishing an AI Robotics Centre, noting that technological advancement is crucial for the future efficiency of the extractive industry. President John Dramani Mahama also addressed the congregation, reminiscing about his brother’s innate entrepreneurial spirit that was evident from childhood and describing his achievements as a testament to the potential for national development through local enterprise. This recognition underscores the growing influence of indigenous entrepreneurs in Ghana’s capital-intensive mining sector. By honoring Mahama, UMaT not only validates the success of local industry leaders but also bridges the gap between academic theory and practical industrial application. The creation of the new institute signals a strategic shift toward greener mining technologies, positioning Ghana to better balance economic extraction with environmental preservation. As Mahama transitions into the role of an academic patron, his story remains a powerful blueprint for Ghanaian youth aiming to scale global business heights through persistence and innovative thinking.

Government Launches ‘Nkoko Nketenkete’ Initiative to Boost Poultry Production and Food Security in Bosome Freho
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Government Launches ‘Nkoko Nketenkete’ Initiative to Boost Poultry Production and Food Security in Bosome Freho

Residents of the Bosome Freho District have expressed strong support for the government’s newly launched ‘Nkoko Nketenkete’ initiative, a strategic program designed to revitalize local poultry production and enhance food security. Officially introduced by the District Chief Executive (DCE), Charles Appiah-Kubi, the initiative marks a significant step in the agricultural development agenda for the region. The program is set to distribute approximately three million birds across 276 constituencies nationwide, specifically targeting about 60,000 households to ensure a broad and inclusive impact on the local economy. The core objectives of the ‘Nkoko Nketenkete’ project include making poultry products more affordable for the average Ghanaian and increasing the general population's access to protein-rich foods. By focusing on the revival of backyard farming, the initiative seeks to provide a sustainable means for households to alleviate poverty and supplement their incomes. This project aligns with a broader national vision for revived backyard farming, emphasizing that self-reliance is key to national prosperity. During the launch, DCE Charles Appiah-Kubi emphasized that the success of the initiative hinges on community cooperation and the diligent management of the livestock provided to the beneficiaries. Local traditional leaders have also voiced their endorsement of the program, recognizing its potential to restore agricultural interest in the area. Nana Akwasi Adu, a prominent traditional leader, highlighted the initiative's potential to transform the livelihoods of residents and revive traditional farming practices. He observed that interest in poultry farming had seen a decline among the youth, largely attributed to the influences of modernization. Nana Adu praised the ‘Nkoko Nketenkete’ initiative for its potential to bridge this generational gap, making farming an attractive and viable venture once again for the younger demographic. As the initiative rolls out, it is expected to create a ripple effect across the district and the country at large. Beyond the immediate provision of birds, the program aligns with a national vision to reduce reliance on imported poultry and foster a culture of self-sufficiency. With the combined efforts of local government officials, traditional authorities, and the participating households, the 'Nkoko Nketenkete' initiative stands as a cornerstone for rural development and a testament to the potential of localized agricultural interventions in driving national economic growth.

Ibrahim Mahama Honored with Honorary Doctorate by UMaT for Decades of Impact in Mining and Construction
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Ibrahim Mahama Honored with Honorary Doctorate by UMaT for Decades of Impact in Mining and Construction

On January 31, 2026, the University of Mines and Technology (UMaT) conferred an honorary Doctor of Science degree upon renowned businessman and philanthropist Ibrahim Mahama during its 18th Special Congregation. The ceremony, a high-profile event attended by President John Dramani Mahama and former President John Agyekum Kufuor, recognized Mr. Mahama’s transformative contributions to Ghana’s mining and construction sectors over nearly three decades. This accolade underscores his pivotal role in domesticating industrial leadership and his long-standing commitment to national development through large-scale engineering and extractive projects. During his acceptance speech, Mr. Mahama, the founder of Engineers & Planners (E&P), shared his journey from operating a small equipment rental firm in 1997 to leading the largest indigenous mining company in West Africa. A major highlight of his address was the Black Volta Gold Project, which he celebrated as a significant milestone for the nation: the first large-scale gold mining asset that is 100% Ghanaian-owned. He urged the graduating class to look beyond traditional educational pathways, emphasizing that vision, discipline, and unwavering hard work are the ultimate drivers of success. President John Dramani Mahama echoed these sentiments, reflecting on his brother’s innate entrepreneurial instincts that had been evident since their childhood. In a move to immortalize his contributions and advance industry standards, UMaT announced the establishment of the Ibrahim Mahama Institute for Precious and Green Ghana. This new institute is designed to spearhead research and promote sustainable, environmentally friendly mining practices across the sub-region. Mr. Mahama also lauded the university’s collaboration with the Ghana Chamber of Mines in establishing an AI Robotics Centre, a facility poised to address the technological challenges of the modern mining sector. By fostering local ownership and green innovation, the recognition of Ibrahim Mahama signals a maturing of the Ghanaian extractive industry toward self-reliance and academic-private sector synergy.

Ghana's Economic Reset: Minister Ofosu-Adjare Urges UK Investors to Lead New Investment Wave
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Ghana's Economic Reset: Minister Ofosu-Adjare Urges UK Investors to Lead New Investment Wave

Minister for Trade, Agribusiness and Industry, Elizabeth Ofosu-Adjare, has issued a strong call to the United Kingdom’s private sector to lead a new wave of investment in Ghana, citing a successful "economic reset." Speaking at a reception for the British International Investment (BII) Board on January 29, 2026, the Minister highlighted Ghana’s transition from economic volatility to stability. She presented the country as a primary destination for foreign capital, bolstered by transparent governance and a strategic position as the gateway to the $3.4 trillion African Continental Free Trade Area (AfCFTA) market. The cornerstone of the Minister’s pitch was Ghana’s remarkable macroeconomic turnaround over the last three years. She noted that inflation, which stood at a staggering 54% in December 2022, plummeted to just 5.4% by December 2025. This stabilization is complemented by a robust 5.5% GDP growth rate recorded in late 2025. Furthermore, the Ghana Cedi has emerged as Africa’s top-performing currency, reflecting renewed investor confidence and effective fiscal management. These improvements form the basis of the government's narrative of a comprehensive economic recovery that has made the nation more attractive for industrial and extractive sectors. The trade relationship between Ghana and the UK is already flourishing, with bilateral trade reaching £1.5 billion by mid-2025—a 5.7% increase year-on-year. Notably, Ghanaian exports to the UK increasingly consist of high-value processed goods. The Minister urged the BII and the broader British private sector to expand their portfolios by focusing on high-growth sectors such as pharmaceuticals, renewable energy, and automotive manufacturing. She emphasized that Ghana is not just looking for aid, but for sustainable joint ventures and partnerships that benefit both economies. Looking ahead, the government is implementing further measures to enhance the business environment. Minister Ofosu-Adjare announced that the 2026 National Budget introduces specific fiscal reforms designed to streamline operations for foreign investors. As a major next step, a Ghana Investment Forum is scheduled to take place in London later this year. This forum will serve as a critical platform for formalizing partnerships and facilitating direct business negotiations between British investors and Ghanaian industrial leaders, signaling that Ghana is fully open for business.

Global Gold Prices Hit Historic $5,000 Milestone Amid Geopolitical Tensions and Trade Uncertainties
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Global Gold Prices Hit Historic $5,000 Milestone Amid Geopolitical Tensions and Trade Uncertainties

Gold prices have shattered historical records, surging past the $5,000 per ounce milestone and briefly touching as high as $5,500. This unprecedented rally is primarily driven by a global rush toward safe-haven assets as investors grapple with escalating political and economic instability. Despite a recent corrective dip following signs of relative political stabilization in the United States, the precious metal maintains a valuation significantly higher than levels seen just a year ago, underscoring its enduring appeal in a volatile global landscape. Central to this price surge are the trade policies and tariff threats associated with the U.S. administration, alongside heightened geopolitical tensions. Ongoing conflicts in Ukraine and Gaza, as well as political tensions surrounding regions like Greenland, have created a climate of fear, prompting both individual and institutional investors to seek refuge in gold’s perceived stability. The scarcity of gold, coupled with its independence from the debt cycles that affect equities, has made it the preferred choice for those looking to mitigate risks in their portfolios amidst fears of inflation and shifting foreign policies. Beyond private investors, central banks—most notably in China—have been aggressively expanding their gold reserves. These institutions are increasingly viewing gold as a critical buffer against potential shifts in U.S. fiscal policy and the dominance of the dollar. The market has also seen the entry of new players, including digital currency firms, which has added layers of complexity and volatility to price movements. This institutional backing provides a strong floor for gold prices, even as markets react to short-term news cycles regarding Federal Reserve leadership or diplomatic developments. While the market recently experienced a cooling period attributed to emerging signs of political stability and potential adjustments to U.S. interest rate expectations, the long-term outlook remains tied to global stability. The recent volatility serves as a reminder of gold’s sensitivity to geopolitical shifts and its status as a secure asset in uncertain times. Analysts suggest that as long as trade wars and international conflicts persist, the demand for gold will likely remain robust, impacting everything from individual investment portfolios to the national economies of gold-producing nations.

Ghana National Airline Set for 12-Month Launch Amid Strengthening West African Aviation Partnerships
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Ghana National Airline Set for 12-Month Launch Amid Strengthening West African Aviation Partnerships

Ghana’s aviation sector is poised for a significant transformation with the announcement that a new national airline is expected to commence operations within the next 12 months. Transport Minister Joseph Bukari Nikpe revealed that a government task force has been established to oversee the creation of a sustainable business model, aiming to avoid the pitfalls that led to the liquidation of Ghana Airways in the early 2000s. Unlike previous state-led efforts, the current strategy emphasizes a private-sector-led approach, with the government planning to limit its ownership stake to ensure the airline is managed with maximum commercial efficiency and long-term viability. To support the new carrier, the government is prioritizing substantial upgrades to airport infrastructure. These improvements include the physical connection of terminals at Kotoka International Airport to enhance the transit experience for passengers. This push for a national airline coincides with broader efforts to improve regional connectivity across West Africa. Notably, Emirates and Air Peace have recently activated a bilateral interline agreement, which facilitates seamless travel between Africa, the UAE, and the United Kingdom. The partnership enables single-ticket travel and through-checked baggage to destinations such as Banjul, Dakar, Freetown, and Monrovia, strengthening trade and tourism links between Nigeria and the global market. Beyond physical infrastructure and transportation, the business landscape is also seeing innovation in digital security. Samsung has introduced a specialized privacy feature, developed over five years, to protect users from "shoulder surfing" in public environments. This technology allows users to customize visibility for specific apps and notifications, reflecting a growing corporate commitment to mobile security and user privacy. Collectively, the re-establishment of a national carrier, the expansion of international airline partnerships, and the integration of advanced mobile security features signal a robust drive toward modernization and competitive integration for the region’s business and travel sectors.