Ghana’s Business Landscape Evolves with New Crypto Regulations and Major Court Rulings

Ghana has taken a significant step toward modernizing its financial sector with the implementation of the Virtual Asset Self-Procurement Act, 2025 (Act 1154). This landmark legislation, supported by the Bank of Ghana, establishes a formal regulatory framework for cryptocurrencies and digital financial products, making Ghana one of the first three African nations—alongside South Africa and Kenya—to adopt such a system. To ensure investor protection and monitor transaction innovations, the Securities and Exchange Commission (SEC) has launched a regulatory sandbox, admitting 17 firms to test crypto products under supervised conditions. This move signals a strategic shift toward embracing financial technology while maintaining rigorous oversight of the digital asset market.

In the judicial sphere, the High Court (Commercial Division 2) in Accra has delivered a major ruling by annulling a $33.3 million arbitral award previously granted to Ashanti Port Services Limited (APSL) against Justmoh Construction Limited. The dispute centered on the Boankra Inland Logistics Terminal Project, which has been hampered by contractual and financial hurdles. Justice John-Mark Nuku Alifo ruled that APSL lacked the legal capacity to initiate arbitration due to a lack of proper board authorization and procedural failures. Furthermore, the court clarified that the funds involved were a share subscription from the Ghana Ports and Harbours Authority (GPHA) rather than a loan, effectively shielding Justmoh Construction from the significant financial liability.

Simultaneously, the Accra Circuit Court is handling a high-profile criminal case involving two businessmen, Kenneth Torbizo and Ernest Kofi Nyatorgbe, who have been denied bail over an alleged GH"49.5 million gold fraud. The accused are charged with conspiring to defraud the CFO of Max Palasco Company by promising to supply 32 kilograms of gold but failing to deliver the goods or refund the payment. Given the substantial sum involved, the prosecution has referred the matter to the Attorney General for further advice. The court's decision to remand the suspects into police custody underscores the state's commitment to tackling large-scale fraud within the nation's precious metals trade.

Beyond the courtroom, administrative and local government developments are shaping the broader business environment. The Driver and Vehicle Licensing Authority (DVLA) has issued a clarifying directive on vehicle ownership transfers, advising buyers who cannot locate original sellers to seek court declarations of ownership to ensure legitimate title transfers. On the local governance front, the Asokore-Mampong Municipal Assembly reported a strong start to 2026, generating GH"543,374 in the first quarter—a sharp increase from the previous year. Municipal Chief Executive Ben Abdullai Alhassan attributed this success to improved revenue mobilization and infrastructure upgrades, highlighting a growing trend of fiscal discipline and local development across the country.