Ghana Business News

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Paramount Chief Awulae Kwasi Amakyi III Pledges to Revitalize Jomoro Coconut Industry as Alternative to Galamsey
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Paramount Chief Awulae Kwasi Amakyi III Pledges to Revitalize Jomoro Coconut Industry as Alternative to Galamsey

Awulae Kwasi Amakyi III, the Paramount Chief of the Western Nzema Traditional Area, has called for a strategic focus on the revitalization of the coconut industry as a sustainable alternative to illegal mining, known locally as galamsey. Speaking at the Jomoro Development Conference held in Half-Assini, the Paramount Chief emphasized that the region’s future prosperity lies in harnessing its agricultural heritage rather than the destructive path of unregulated mining. The conference, which also marked his first anniversary in office, served as a platform to discuss the historical significance of the Nzema people and the roadmap for regional economic development. Historically, the coconut sector has been the backbone of the Jomoro economy, providing the financial means for local families to support their livelihoods and educate their children. Awulae Amakyi III argued that the current economic climate necessitates a shift back to these roots, but with a modern focus on the entire value chain. He specifically called for the establishment of processing factories within the district to ensure that the region benefits from value addition, rather than merely exporting raw nuts. This industrialization drive is seen as a key strategy to create stable jobs for the youth and discourage the encroachment of illegal mining activities that threaten the local environment and water bodies. Beyond agriculture, the conference also addressed the integration of local resources into larger national initiatives, such as the Petroleum Hub Development Project. Stephen Blay, the convener of the conference, highlighted that for these major developmental projects to succeed, there must be a concerted effort to harness local resources effectively. He stressed the importance of fair compensation for farmers whose lands and livelihoods are affected by such large-scale infrastructure projects. This balanced approach aims to ensure that industrial progress does not come at the expense of the traditional agricultural sectors that have sustained the community for generations. The commitment to reviving the coconut industry reflects a growing trend among traditional leaders in Ghana to seek environmentally sustainable development paths. By prioritizing the "green gold" of the coconut palm over the immediate but fleeting gains of galamsey, the Western Nzema Traditional Area is positioning itself as a model for resource management. As the government under President John Mahama continues to navigate national economic and environmental challenges, local initiatives like the Jomoro coconut revival provide a critical blueprint for grassroots industrialization and community-led environmental stewardship.

Gospel star Diana Hamilton joins Onga family as brand ambassador
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Promasidor Ghana Names Gospel Icon Diana Hamilton as Brand Ambassador for Onga Tomato Mix

Promasidor Ghana has officially announced the appointment of multiple award-winning gospel musician Diana Antwi Hamilton as the brand ambassador for Onga Tomato Mix. This strategic partnership aims to leverage the singer's massive public appeal and wholesome reputation to reinforce Onga's position as a household staple in Ghanaian kitchens. The announcement marks a significant marketing move for Promasidor, seeking to connect more deeply with domestic consumers through one of the country's most respected and influential cultural figures. During the unveiling, Abiodun Ayodeji, the Commercial Director for Promasidor Ghana, emphasized that the selection of Diana Hamilton was rooted in shared values. He highlighted the musician's warmth, commitment to family, and her ability to successfully balance a demanding career with home life as qualities that mirror the core mission of the Onga brand. Beyond its culinary appeal, Onga Tomato Mix is positioned as a health-conscious option for families, as the product is enriched with essential nutrients including fiber, Vitamin A, Vitamin D, and Zinc, designed to provide a nutritious base for various local dishes. In her response to the appointment, Diana Hamilton expressed profound enthusiasm about joining the "Onga family" and representing a brand that many Ghanaians trust. Known for her significant influence within both religious and secular circles, she encouraged consumers to embrace the product line, noting its high quality and nutritional benefits. This endorsement is expected to drive brand loyalty and increase market share in the highly competitive seasoning and tomato paste sector, where cultural resonance and celebrity trust often dictate consumer behavior. The collaboration between Promasidor and Hamilton represents a broader trend in the Ghanaian business landscape where corporate entities align with high-profile personalities to drive product visibility and consumer engagement. As the brand prepares to roll out new marketing campaigns featuring the gospel star, the focus will likely remain on the intersection of nutrition, tradition, and the modern Ghanaian lifestyle. This partnership not only boosts Onga's brand equity but also cements Diana Hamilton's status as a versatile public figure with substantial commercial influence across the country.

Ghana’s Automotive Sector Evolves with New Import Rules, Winneba Interchange Progress, and Electric Vehicle Adoption
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Ghana’s Automotive Sector Evolves with New Import Rules, Winneba Interchange Progress, and Electric Vehicle Adoption

Ghana’s automotive and transport landscape is undergoing a significant transformation as the government and private sector move to modernize infrastructure, tighten import standards, and promote sustainable mobility. Central to these changes is the Ghana Standards Authority’s (GSA) announcement of stricter regulations for used car imports, set to take effect on October 1, 2026. While the GSA clarified that this is not a total ban on used vehicles, the new enforcement measures are designed to ensure that all imported vehicles meet rigorous safety and technical benchmarks, protecting consumers and improving road safety across the nation. Simultaneously, the government’s "Big Push" Infrastructure Programme is making strides with the construction of the Winneba Junction Interchange. Although the project aims to drastically improve traffic flow and transit efficiency in the Central Region, the current construction phase has posed challenges for commuters and local enterprises. Motorists on the Winneba-Accra Highway report significant delays, dusty conditions, and increased vehicle maintenance costs due to rough surfaces. Local businesses have noted a decline in customer traffic, though many residents remain optimistic that the completed interchange will eventually alleviate the long-standing congestion issues on this vital corridor. Complementing these regulatory and infrastructure developments is a growing shift toward green technology, as highlighted during the recent Absa Auto Fair at Ghud Park. The event showcased the latest in electric mobility, featuring models such as the Toyota bZ3X and bZ5 presented by EV Afriq and Electric Miles Africa. Major automotive distributors including Japan Motors and MAC Ghana participated, offering consumers various financing options and test drives. This focus on electric vehicles (EVs) aligns with global trends and suggests a pivot in the Ghanaian market toward more sustainable transportation solutions. Together, these developments reflect a multi-faceted approach to improving Ghana's business and transport sectors. From the GSA’s focus on vehicle quality to the investment in large-scale interchanges and the promotion of EV technology, the country is positioning itself for a more efficient and modern future. As the October 2026 deadline for new import rules approaches, stakeholders in the automotive industry and the general public are expected to adapt to these higher standards, supported by improved road networks and emerging financial products that make modern vehicle ownership more accessible.

Ndiyakupi Nghituwamata (left), the Namibian High Commissioner, and James Gunu, Volta Regional Minister
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Ghana Drives Economic Transformation Through Volta Region Investment and China’s Zero-Tariff Trade Access

Ghana is intensifying its efforts to attract high-value, productive investments and expand its international trade footprint, highlighted by significant diplomatic engagements in the Volta Region and a landmark trade agreement with China. This strategic shift aligns with a recent mandate from the Ghana Free Zones Authority (GFZA) for the nation to move beyond merely attracting capital toward securing investments that foster local industrialization, job quality, and technology transfer. At the launch of the 2025 Annual Investment Report, GFZA Deputy CEO Latif Abdul Oduro emphasized that national strategies must prioritize sectors such as agro-processing, pharmaceuticals, and ICT to ensure Ghanaian enterprises can compete internationally on both quality and cost. The Volta Region has emerged as a central focal point for these economic explorations, attracting both diplomatic and private sector interest. Ndiyakupi Nghituwamata, the High Commissioner of Namibia, recently initiated a five-day economic familiarization tour of the region to explore trade and investment opportunities in tourism and agriculture. This visit, supported by Regional Minister James Gunu, aims to deepen the historical ties between the two nations through practical economic cooperation. Simultaneously, Dr. Gabriel Tanko Kwamigah-Atokple, the Volta Regional Representative on the Council of State, has been engaging with American investor John P. Rochon. Their discussions have centered on lithium exploration and local resource development, highlighting the region’s potential for sustainable industries due to its strategic proximity to Togo and the absence of illegal mining. On the international trade front, Ghana is poised for a significant export boost following China’s decision to grant zero-tariff treatment to Ghanaian products. Effective May 1, 2026, this policy will allow key commodities—including cocoa, cashew kernels, and textiles—to enter the Chinese market at significantly lower costs. While the policy represents a major opportunity for the Ghanaian economy, stakeholders and the Chinese Ambassador to Ghana have cautioned that tariff-free access must be met with improved production capacity. They stressed that local exporters must enhance their market knowledge and output consistency to fully capitalize on this preferential access to one of the world's largest consumer bases. These converging developments signal a comprehensive approach to economic growth under the current administration of President John Mahama. By linking regional resource potential with international trade incentives and a focus on productive industrialization, Ghana aims to translate investment data into tangible social outcomes. The ultimate goal, as outlined by the GFZA and regional leaders, is to create a robust economic framework where foreign partnerships directly empower local businesses, foster skills development, and drive the nation’s export-led recovery.

Receiver seeks stay of execution after No.1 Oxford Street Hotel handover order
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Labadi Beach Hotel Eyes Expansion at 35 While No. 1 Oxford Street Faces Legal Deadlock

Ghana’s luxury hospitality sector is witnessing a period of both celebratory growth and legal contention. While the iconic Labadi Beach Hotel marks three and a half decades of operations with a roadmap for significant reinvestment, the high-profile No. 1 Oxford Street Hotel remains embroiled in a complex legal battle. These developments highlight the contrasting trajectories of established legacy assets and newer private investments within the nation’s capital, reflecting the broader dynamics of the country's business climate. Labadi Beach Hotel is embarking on a new phase of growth to celebrate its 35th anniversary. Managing Director David Eduaful recently announced plans for fresh investments aimed at enhancing guest experiences while carefully preserving the hotel’s historical identity and heritage. To commemorate the milestone, management, staff, and various stakeholders participated in a health walk, signaling a commitment to corporate wellness and operational longevity. Head of Marketing, Ekua Zara Ghartey-Tsagli, emphasized that upcoming facility upgrades are designed to offer a "redefined experience" for patrons, ensuring the hotel remains a leader in Ghana’s competitive hospitality market. In contrast, the legal status of the No. 1 Oxford Street Hotel in Osu has become increasingly volatile. The High Court in Accra recently ordered the Receiver, Nii Amanor Doodo, to hand over possession of the property to Kensington Residential Partners 1 Limited, a firm linked to prominent businessman Nana Kwame Bediako. The property had previously been taken over by the Receiver on behalf of Cola Holdings Ltd, a move that Bediako’s legal team successfully challenged in court, leading to the current handover order. However, the transition of ownership remains on hold as Nii Amanor Doodo has filed a formal appeal against the High Court's decision. Citing jurisdictional issues and alleged procedural errors in the ruling, the Receiver is also seeking a stay of execution to prevent the immediate transfer of the luxury hotel back to Bediako's firm. A hearing for this stay of execution has been scheduled for October 16, 2026. As Labadi Beach Hotel looks toward a future of physical expansion and innovation, the fate of No. 1 Oxford Street remains tied to the judicial system, leaving stakeholders in the luxury real estate sector awaiting a definitive resolution.

Bank of Ghana Advances Financial Inclusion Through Non-Interest Banking and Fintech Regulatory Sandboxes
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Bank of Ghana Advances Financial Inclusion Through Non-Interest Banking and Fintech Regulatory Sandboxes

Ghana’s financial landscape is undergoing a significant transformation as the Bank of Ghana (BoG) implements new guidelines for non-interest banking and broadens its oversight of the digital asset space. This shift, marked by the inauguration of the Non-Interest Financial Advisory Council (NIFAC), aims to deepen financial inclusion and provide ethical alternatives to conventional banking. The initiative follows nearly a decade of advocacy by the Islamic Finance Research Institute of Ghana (IFRIG) and is designed to be inclusive, appealing to all citizens regardless of religious affiliation. Proponents believe this framework will unlock fresh capital for critical national infrastructure through instruments like Sukuk bonds, fostering a more robust and transparent financial ecosystem under the administration of President John Mahama. In tandem with these structural reforms, the Securities and Exchange Commission (SEC) and the BoG have advanced the country's fintech agenda by admitting Mansu Technologies into their respective regulatory sandboxes. Mansu Technologies, the creator of the 'Crypto Made Easy' platform, has become one of only two companies in the country to secure dual approval for virtual asset brokerage. COO Kwadwo Boakye-Yiadom emphasized that this achievement reflects a commitment to regulatory alignment and trust. These sandboxes are vital for developing licensing guidelines that balance innovation with consumer protection in Ghana’s burgeoning virtual asset market. While the banking and fintech sectors modernize, the insurance industry faces persistent challenges regarding public perception and low adoption rates. Shaibu Ali, President of the Insurance Brokers Association of Ghana (IBAG), recently highlighted a widespread misunderstanding of the role of brokers. Unlike agents who represent specific firms, brokers act as independent intermediaries, providing policy negotiation and claims assistance at no additional cost to the client. This lack of awareness contributes to a situation where life insurance accounts for only 2% of the national economy, despite noncommunicable diseases causing over 70% of deaths. Industry experts argue that increasing life insurance penetration is a critical 'wealth-building secret' that can protect families from financial ruin. These developments are occurring against a backdrop of continued currency fluctuations in the foreign exchange market. As of late August 2026, the Ghanaian Cedi has seen slight depreciation, with the US dollar trading at an average interbank selling rate of GHS 11.13, while forex bureaus are selling at approximately GHS 12.30. The British pound and Euro are currently trading at GHS 16.26 and GHS 13.94 respectively. As the government continues to navigate these economic variables, the focus remains on bridging the gap between traditional financial services and modern digital solutions to ensure long-term stability and inclusive growth for all Ghanaians.

Petroleum Commission Secures $3.5 Billion Investment Boost as Ghana Resolves Upstream Disputes
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Petroleum Commission Secures $3.5 Billion Investment Boost as Ghana Resolves Upstream Disputes

Ghana’s upstream petroleum industry is entering a significant period of expansion, with a $3.5 billion investment pipeline now taking shape following the successful resolution of disputes between the government and key oil operators. Emeafa Hardcastle, CEO of the Petroleum Commission, announced these developments during the launch of the 2025 Annual Investment Report. The resolution of these long-standing issues has created a more predictable and stable business climate, which is essential for attracting the large-scale capital required for deep-water exploration and production. A major portion of the committed capital includes $2 billion from partners in the Jubilee and TEN fields. This investment is specifically targeted at increasing oil production and optimizing gas output, which is expected to lower gas prices by approximately 18 percent. This reduction represents a potential saving of $300 million for the Ghanaian economy. Furthermore, partners in the Offshore Cape Three Points project have committed $1.5 billion to expand gas export capabilities and develop new discoveries, reinforcing Ghana’s position as a regional energy hub. In a parallel effort to attract new international players, the government has granted Brazilian state-owned oil firm Petrobras the authority to begin negotiations for exploration contracts in the Keta Basin. This move involves four offshore blocks and is part of a broader strategy to diversify the companies operating within Ghana's maritime territory. By bringing in a major global player like Petrobras, the Petroleum Commission aims to inject fresh technical expertise and investment into the Keta Basin, which has been a focus of renewed interest. The current administration under President John Mahama is prioritizing a stable fiscal regime to maintain this newfound investor confidence. CEO Hardcastle emphasized that maintaining transparent regulatory practices and long-term policy certainty is vital for the continued growth of the sector. As these investments begin to materialize, they are expected to not only boost national revenue but also provide the necessary energy security to support industrialization and economic stability across the country.

CMC Launches 24-Hour Cocoa Operations at Tema and Takoradi Ports to Streamline Exports
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CMC Launches 24-Hour Cocoa Operations at Tema and Takoradi Ports to Streamline Exports

The Cocoa Marketing Company (Ghana) Limited (CMC) has officially transitioned to a 24-hour operational model, a strategic move designed to significantly enhance the efficiency of Ghana’s cocoa export chain. This initiative, which aligns with President John Dramani Mahama’s "24-Hour Economy" policy, seeks to eliminate bottlenecks in the movement and processing of cocoa. By extending operations beyond traditional business hours, the CMC aims to ensure that cocoa can be received, supplied to local processing companies, and prepared for international shipment around the clock. The new framework is built upon three core pillars—Offload 24, Load 24, and Export 24—and will initially target high-volume facilities in the port cities of Tema and Takoradi. CMC Managing Director Wisdom Kofi Dogbey emphasized that the continuous operating model is essential for mitigating congestion and optimizing the use of existing logistics infrastructure. Beyond the immediate logistical benefits, Mr. Dogbey highlighted the potential for significant job creation within cocoa-producing regions and port communities, as the shift-based system requires a more robust workforce to sustain 24-hour activity. This modernization effort is expected to improve turnaround times for trucks and vessels, thereby increasing the overall volume of cocoa handled and exported by the nation while reducing historical delays. The rollout also focuses on improved coordination among various stakeholders in the maritime and trade sectors. Dr. Randy Abbey, representing COCOBOD leadership, noted that the initiative is critical for reducing demurrage costs and vessel waiting times, which have historically weighed on the sector's profitability. To ensure success, the CMC has called for synchronized operations between customs authorities, shipping lines, and other logistics partners. By establishing measurable performance indicators, the company intends to monitor the impact of the 24-hour model on productivity and the speed of delivery to the international market. This reform represents a broader shift toward enhancing Ghana’s competitive edge and retaining more value within the local economy. By facilitating quicker access for domestic processing companies and streamlining the export pipeline, the CMC is positioning Ghana to be more responsive to the demands of the global cocoa trade. As the 24-hour model matures, it is expected to serve as a blueprint for other state institutions, furthering the goal of creating a more dynamic and resilient economic landscape through continuous, around-the-clock productivity.

VALCO Launches New Rolling Mill and Seeks Strategic Partner to Transform Ghana’s Aluminium Value Chain
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VALCO Launches New Rolling Mill and Seeks Strategic Partner to Transform Ghana’s Aluminium Value Chain

Volta Aluminium Company Limited (VALCO) is entering a transformative phase with the introduction of a new continuous casting and rolling mill alongside a high-level government push to secure a strategic investor. These parallel efforts aim to modernize the long-standing smelter and pivot the company from primary aluminium smelting toward high-value manufacturing. As part of the national industrialization agenda, this state-led initiative seeks to reduce Ghana's reliance on imported raw materials while bolstering the local manufacturing sector through value addition. The newly launched rolling mill allows VALCO to produce aluminium rods directly for the local market, specifically targeting manufacturers such as Nexans Kablemetal and Reroy Cables. During a performance review with the Ministry of Lands and Natural Resources, VALCO’s Finance Director, Sepenu Agbetsise, confirmed that local companies have already provided positive feedback on test samples. This strategic shift is designed to curb the drain on foreign exchange by replacing rod imports. Furthermore, VALCO is expanding its reach into international markets, having shipped 25 metric tonnes of H11 Electrical Conductor grade rods to Europe in June 2026 for evaluation. To address structural challenges related to aging infrastructure and declining productivity, the government inaugurated an eight-member Negotiations Team on August 21, 2026. This team, which includes representatives from the Ghana Integrated Aluminium Development Corporation (GIADEC) and the Ministry of Finance, is tasked with securing a partner to inject capital for modernization and expansion. The Minister for Lands and Natural Resources emphasized that the initiative is a strategic partnership rather than an outright sale, intended to protect jobs and ensure the smelter's long-term commercial viability. Despite these advancements, a significant bottleneck remains: the absence of a domestic alumina refinery. Although Ghana possesses vast bauxite reserves, VALCO currently relies on imported alumina, which significantly increases operational and logistical costs. Both the government and VALCO leadership maintain that establishing a local refinery is essential for a fully integrated aluminium industry. By aligning modernization with local value addition, Ghana aims to transition from a raw material exporter to a competitive regional hub for finished aluminium products.

Ghana Mining Sector Developments: Adamus Resources Revived Amid Gold Purchase Program Controversies and Worker Fund Disputes
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Ghana Mining Sector Developments: Adamus Resources Revived Amid Gold Purchase Program Controversies and Worker Fund Disputes

The Ghana Chamber of Mines has commended the government for a strategic breakthrough in the long-standing dispute involving Adamus Resources Limited, a move widely seen as a lifeline for one of the country's prominent indigenous large-scale mining operations. The resolution includes a 12-month roadmap overseen by a six-member joint management team, aimed at restoring investor confidence and securing thousands of jobs. This intervention follows a period of uncertainty marked by the revocation of mining leases and legal challenges. Industry stakeholders, including Kofi Bentil, Vice President of IMANI Africa, have emphasized that this 12-month reprieve is a critical window for the company to address regulatory concerns, settle financial obligations, and demonstrate a commitment to responsible mining practices and Ghanaian ownership. While the mining sector finds stability through the Adamus resolution, Ghana's domestic gold-purchasing program is facing intense scrutiny from economic analysts and civil society. Dr. Frank Bannor and Senyo Hosi have raised concerns regarding the fiscal transparency of the initiative, with Dr. Bannor suggesting that losses in the program may have been "engineered" rather than authentic based on his analysis of an IMF report. Mr. Hosi further argued that the program's structure inherently invited losses by offering competitive prices to curb gold smuggling. This debate is compounded by claims from the Minority Party of approximately US$1.7 billion in losses, prompting calls for a thorough investigation into the program's financial design and its impact on the national economy. Adding to the pressure for financial accountability, Duncan Amoah, Executive Secretary of the Chamber of Petroleum Consumers (COPEC), has challenged the Ghana Gold Board (GoldBod) to prove its operational viability without relying on Bank of Ghana (BoG) financing. Speaking on current economic developments, Amoah stressed that GoldBod should function as a self-sustaining entity that generates profit without transferring trading risks to the central bank. He pointed to discrepancies in exchange rates and transaction outcomes as key areas requiring clarity, arguing that the true measure of the board's success should be its financial independence and transparency in the global market. In a parallel development concerning worker welfare within the industry, the Ghana Mineworkers’ Union (GMWU) has petitioned the Bank of Ghana to facilitate the release of over GH¢380 million in locked-up funds. These assets, which belong to more than 19,000 current and former mineworkers, include provident funds, welfare savings, and severance packages managed by IGS Financial Services Limited. The union's appeal highlights the human cost of financial instability in the sector. As the government continues to navigate these complex regulatory and economic challenges, the focus remains on balancing the need for indigenous participation in mining with the imperative of rigorous financial oversight and the protection of worker interests.

Nuclear energy key to Ghana’s future power needs — Energy Minister
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Minister John Abdulai Jinapor Outlines 1,000MW Nuclear Goal and Strategic Investment Drive to Secure Ghana’s Energy Future

Energy Minister John Abdulai Jinapor has outlined a bold vision for Ghana’s energy sector, emphasizing the integration of 1,000 megawatts of nuclear power into the national grid by 2030. Speaking at the third US-Africa Nuclear Energy Summit in Accra, the Minister highlighted nuclear energy as a critical, low-carbon solution to support industrialization and meet a peak electricity demand that has surged to 4,500 megawatts. This strategic shift comes as the nation’s traditional hydroelectric resources face depletion and thermal generation costs remain high. The initiative is supported by the United States, which has pledged cooperation and training to develop a skilled nuclear workforce capable of adhering to international safety standards. While planning for a nuclear future, the government is also calling for immediate strategic positioning within the global energy market. During the 15th anniversary of the Petroleum Commission, Minister Jinapor urged the petroleum and energy sectors to enhance Ghana's investment climate to attract major industry players despite global market volatility. This drive for investment is paired with efforts by the Petroleum Commission to balance regulatory oversight with incentives for local companies, ensuring that the country remains a competitive hub for upstream petroleum activities. However, these long-term goals are set against a backdrop of significant infrastructure challenges and immediate operational hurdles. The Ghana Grid Company Limited (GRIDCo) recently announced a 15-hour power interruption in parts of Greater Accra to replace a transmission tower damaged by a tanker explosion on the 161kV Tema-Achimota line. Further complicating the outlook, Benjamin Nsiah, Director for the Centre for Environmental Management and Sustainable Energy, warned that much of the nation’s power supply infrastructure is over 40 years old. Nsiah noted that resolving these deep-seated structural issues and meeting increasing demand, particularly in the Volta Enclave, may take up to a year of sustained financial and technical intervention. To manage current demand-side pressure, the Energy Commission has partnered with the Ghana Hotels Association to launch an extensive energy efficiency training program. This initiative, which spans the Bono East, Northern, and Upper East regions, targets hotel owners and managers to improve compliance with new energy regulations. By encouraging the adoption of energy-efficient appliances and technologies like motion sensors, the Commission aims to help the hospitality sector reduce operational costs and greenhouse gas emissions. These efforts collectively reflect a multi-tiered approach to stabilize Ghana’s energy landscape through immediate efficiency, infrastructure renewal, and long-term nuclear diversification.

Kojo Aduhene (right), CEO of LMI Holdings, briefing President John Dramani Mahama about the progress of work
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President Mahama Revives Saglemi Housing Project as Republic Bank-JoyNews Habitat Fair Drives Private Homeownership Solutions

President John Mahama has signaled a new era for Ghana’s housing sector, highlighting the revival of the Saglemi Housing Project alongside a surge in private-sector financing initiatives. During a recent site visit, the President expressed confidence in the project’s progress, which is being spearheaded by LMI Holdings. This development coincides with the annual Republic Bank-JoyNews Habitat Fair at Achimota Mall, where hundreds of prospective homeowners are engaging with industry experts to navigate the complexities of property acquisition and construction. These combined efforts represent a unified push to address the country's housing deficit through both government-led infrastructure and private-sector engagement. Under the new revival plan, LMI Holdings is committed to delivering the first 700 housing units of the Saglemi project by March 2027, with the total number of completed units expected to reach 1,500 by December of that same year. Once a stalled project due to legal and administrative hurdles, Saglemi is now being transformed with modern infrastructure, including high-speed internet and planned railway connections to facilitate easier commuting. President Mahama has urged the public to register early for these units, citing expected high demand, while financial institutions are already crafting specialized mortgage products to support potential buyers. Complementing these large-scale government efforts, the Republic Bank-JoyNews Habitat Fair has provided a practical platform for citizens under the theme, ‘Dream it. Explore it. Own it.’ Despite intermittent weather, the event at the Achimota Retail Centre has seen a vibrant turnout of investors and builders. Exhibitors ranging from building material suppliers to mortgage providers have offered significant discounts and direct consultations. This fair serves as a critical link between the housing market and the public, empowering individuals with the financial literacy and technical advice needed to transition from dreaming about homes to owning them. Supporting this ecosystem is the National Homeownership Fund (NHF), which is currently expanding its affordable housing interventions through strategic partnerships. Gizella Tetteh-Agbotui, the Deputy Minister for Works, Housing and Water Resources, emphasized that the NHF is crucial for implementing government policies through innovative financing and district-level projects. Together, the revival of Saglemi, the expansion of the NHF, and the active participation of private banks represent a multifaceted approach to creating sustainable paths to homeownership for the Ghanaian people.