Ghana Tourism Federation Demands Visa Fee Review as Accommodation Revenue Slumps 19%

President Mahama to List 10 State-Owned Enterprises on Stock Exchange Amid Rising Investment and Building Costs

President John Mahama has announced a landmark plan to list 10 state-owned enterprises (SOEs) on the Ghana Stock Exchange (GSE) as part of a broader strategy to enhance corporate governance and attract public investment. Speaking at the Council on Foreign Relations in New York, the President emphasized that transforming these SOEs into public companies would insulate them from political interference and improve accountability. This move follows a significant turnaround in the sector, which recently recorded a combined net profit of nearly GH¢19 billion. The initiative aligns with a surge in Ghana’s investment appeal, with Foreign Direct Investment (FDI) growing from $640 million in 2024 to $2.6 billion by 2025, supported by a more stable power supply. While the investment climate shows promise, the construction sector is facing renewed price pressures. Data from the Ghana Statistical Service (GSS) reveals that building cost inflation rose to 4.6% in August 2026, up from 4.0% in July. This marks the highest level of construction inflation since November 2025. The Prime Building Cost Index was primarily driven by a 17.9% surge in plant and equipment costs and a 5.8% rise in material prices, with plumbing recording the highest inflation at 26.1%. Conversely, there was some relief in labor and raw material costs, as steel prices declined by 8.9% and labor inflation fell to -2.9% year-on-year. Ghana is also asserting itself as a major player in emerging digital and service economies. A recent International Monetary Fund (IMF) report ranks Ghana as the fifth largest cryptocurrency market in sub-Saharan Africa, with annual transactions reaching approximately $21 billion. Between 8% and 17% of the population is now engaged in crypto activities, primarily using stablecoins as a hedge against inflation. This growth is being met with increased regulatory oversight through the Virtual Asset Service Providers Act 2025. Simultaneously, the tourism sector has emerged as a significant pillar of the economy, generating over $4.34 billion in receipts from 1.3 million international visitors in 2025. To sustain this economic momentum, the Ministry of Finance and the African Development Bank (AfDB) are focusing on strengthening institutional capacity to manage large-scale projects. The AfDB currently supports a portfolio of 20 projects in Ghana valued at approximately $672 million, spanning agriculture, transport, and social interventions. Isaac Fraikue, Director of External Resources Mobilisation, noted that successful project delivery requires robust fiduciary systems and sound procurement practices beyond mere funding. These efforts are intended to address operational inefficiencies that could otherwise delay the benefits of these multi-million dollar investments for the Ghanaian public.