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President John Mahama has issued a stern directive to the leadership of State-Owned Enterprises (SOEs) following the 2025 State Ownership Report, which revealed a consolidated net profit of GHc19.8 billion (~$1.73 billion USD), a sharp recovery from the GHc2.26 billion (~$198 million USD) loss in 2024. To institutionalize accountability, the President announced the proposed Independent Public Emoluments Commission (IPEC) to link executive salaries directly to institutional performance. However, an IMF Technical Assistance Report simultaneously flagged GHc18.6 billion (~$1.63 billion USD) in financial irregularities across entities like ECG and COCOBOD, citing 'politicization' of board appointments as a primary risk to stability.
The turnaround suggests improved fiscal management, but the IMF's findings of procurement breaches (including 87% of COCOBOD roads contracts awarded without competitive tendering) indicate that systemic corruption still threatens the budget.
Ghana entered an IMF program in 2022-2023 to address high debt and inflation. These current warnings highlight that despite profit, SOE liabilities still reach GHc282 billion (~$24.7 billion USD).
President Mahama has officially sworn in three new Justices to the Supreme Court: Justice Sophia Rosetta Bernasko-Essah, Justice Edward Amoako Asante, and Justice Anthony Forson Jnr. The appointments come as civic leaders, including Dr. Kofi Amoah, call for a 'systemic reset' of Ghana’s corruption culture, urging the administration to prioritize independent anti-corruption institutions. Separately, the Republic has closed its money laundering case against former National Signals Bureau Director-General Kwabena Adu-Boahene, involving a GHc49.1 million (~$4.3 million USD) loss to the state.
The defense is scheduled to submit its final arguments by September 25, 2026. This case is seen as a litmus test for the Mahama administration's commitment to holding former high-ranking officials accountable.
Official data from the Ghana Statistical Service shows the economy expanded 6.0% year-on-year in Q2 2026. The Services sector remained the dominant force, contributing 57.6% of GDP, with ICT growing at a staggering 30.9%. This growth occurred despite a slowdown in the agricultural sector (3.9%) and a significant 24.7% contraction in the fishing sub-sector, which has raised concerns regarding coastal livelihoods.
The ICT boom suggests high demand for digital infrastructure and fintech services. Stablecoins like USDT and USDC are increasingly being utilized by local traders to bypass high banking fees and cedi volatility.
With the cedi selling at an average of GHc12.15 per USD at forex bureaus (against the Bank of Ghana interbank rate of GHc11.417), remitters still enjoy significant purchasing power for local projects.
The government has intervened at Tema Port by allocating an additional berth for clinker imports to curb cement price hikes caused by demurrage costs of GHc12 (~$1.05 USD) per bag. Meanwhile, the Ghana Gold Board recorded a net profit of GHc896.5 million (~$78.5 million USD) for 2026, a massive jump from GHc178.5 million in 2024. The Board is projected to generate $1.40 billion in foreign exchange by late 2026 to support the Bank of Ghana's reserves.
Stabilizing cement prices is crucial for the construction sector, while Gold Board profits provide the central bank with the liquidity needed to stabilize the cedi.
French customs officials seized 3.9 metric tonnes of cocaine, valued at US$261.45 million (•225 million), concealed in plastic waste from Ghana. In response, Rev. John Ntim Fordjour, Ranking Member on Parliament's Defence and Interior Committee, warned that Ghana risks being labeled a 'cocaine coast.' He called for an inquiry into over $1 billion USD in international narcotics seizures linked to Ghana over the past two years, citing a lack of high-profile domestic arrests.
Ghana's ports have historically been under scrutiny as transit points for South American drugs heading to Europe. This massive bust at Dunkirk increases pressure on Ghana's Narcotics Control Commission.
A tyre burst on a Mercedes-Benz Sprinter bus led to a collision on the Hwidiem-Acherensua Highway, killing seven and injuring 21. In Kumasi, a trailer truck transporting goods to Burkina Faso experienced brake failure, crashing into shops and killing a 20-year-old. The Ghana Police Service has announced the 'Traffitech' digital enforcement system will launch October 1, 2026, to use cameras for automated violations.
The test phase for Traffitech begins September 14. This shift to automated policing aims to reduce human interference and corruption in traffic management.
Athletic Bilbao captain Iñaki Williams has announced his retirement from the Black Stars at age 32. After switching allegiance from Spain in 2022, Williams earned 28 caps and scored two goals, including a crucial winner against Madagascar. He participated in two World Cups and one AFCON, citing a desire to focus on his club career in Spain.
Black Stars context: Williams' retirement leaves a void in the forward line just as the team prepares for 2027 AFCON qualifying. His departure marks the end of a high-profile diaspora recruitment era under previous technical directions.
Presbyterian Boys’ Secondary School (PRESEC-Legon) has won its ninth National Science and Maths Quiz (NSMQ) title, defeating Accra Academy and St. Augustine’s College in a dramatic finale. Trailing with 9 points in the first round, PRESEC staged a stunning comeback to finish with 40 points.
Today we covered the massive narcotics seizure at Dunkirk, the record profits of state-owned enterprises, and the retirement of Black Stars icon Iñaki Williams. Thank you for reading the Anansi News Daily Brief!
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