Ghana Business News

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Ghana Government Signals Economic Recovery with GH¢10 Billion DDEP Interest Payment
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Ghana Government Signals Economic Recovery with GH¢10 Billion DDEP Interest Payment

The Government of Ghana has reached a significant milestone in its debt restructuring efforts, successfully paying GH¢10 billion in interest obligations under the Domestic Debt Exchange Programme (DDEP). This disbursement represents the sixth coupon settlement since the program's implementation and is the second time the government has made a full cash payment without relying on Payment-In-Kind (PIK) components. This move is a major component of the state's broader strategy for fiscal consolidation and debt management, signifying a transition toward more traditional and sustainable debt servicing methods as the nation's economic outlook improves. This GH¢10 billion payment is intended to serve as a powerful signal to both domestic and international markets regarding Ghana's improved fiscal capacity and discipline. According to the Ministry of Finance, the timely servicing of these cedi-denominated obligations is essential for bolstering investor confidence and enhancing the country's credit profile. Financial analysts observe that the cash injection will have a direct positive impact on the stability of the financial sector, particularly for commercial banks and pension funds that held the original bonds. By fulfilling these commitments, the government aims to mitigate the long-term effects of the debt exchange and restore the health of institutional balance sheets. The successful coupon payment is further supported by improving macroeconomic indicators across the country. Government officials have highlighted falling inflation rates, a stabilizing Cedi, and a general decline in interest rates as the underlying factors enabling this full cash settlement. These improving conditions provide the necessary fiscal buffers to meet debt obligations while continuing to invest in core economic areas. This alignment of fiscal discipline with macroeconomic stability is seen as a foundational step toward long-term financial growth and a more resilient economy. Looking forward, the Ghanaian government has reaffirmed its commitment to meeting all future obligations under the DDEP framework. As the country continues to work with international partners and domestic stakeholders, the emphasis remains on maintaining the momentum of fiscal recovery. By consistently honoring its debt settlements, the government hopes to create a predictable and stable environment for investment, which is vital for the continued success of the post-restructuring era and the broader objective of achieving sustainable economic development for all Ghanaians.

Business Briefing: Leadership Transitions at BOST and Hyatt Amid Record $16.5M Collectible Sale
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Business Briefing: Leadership Transitions at BOST and Hyatt Amid Record $16.5M Collectible Sale

The business landscape this week is defined by significant leadership transitions both locally and internationally, alongside a historic milestone in the alternative investment market. In Ghana, BOST Energies Limited (BOSTenergies) has initiated a key executive change as its Deputy Managing Director transitions to a national regulatory role. On the global stage, Hyatt Hotels Corporation is navigating a sudden change in chairmanship due to past associations with controversial figures, while the collectibles market has reached a new zenith with the multi-million dollar sale of an ultra-rare trading asset. Locally, BOSTenergies held a formal ceremony to bid farewell to outgoing Deputy Managing Director, Adwoa Serwaa Bondzie, following her appointment as the new Executive Secretary of the Ghana Energy Commission. Managing Director Afetsi Awoonor praised Ms. Bondzie's dedication and impactful leadership during her tenure. Succeeding her is Salifu Nat Acheampong, a seasoned professional with an extensive background in corporate communications and stakeholder engagement within the company. Mr. Acheampong has pledged to advance the company's vision, bringing years of internal experience to his new leadership position. In international corporate news, billionaire Thomas Pritzker has resigned as chairman of Hyatt Hotels. His departure follows the release of U.S. Department of Justice files that revealed his continued contact with Jeffrey Epstein after Epstein's 2008 plea deal. Pritzker admitted to exercising "terrible judgment" and expressed regret for his associations with Epstein and Ghislaine Maxwell. Mark Hoplamazian has been named as his successor to ensure a stable transition for the hotel giant, which Pritzker maintains remains in a strong financial position despite the leadership shake-up. Adding a unique dimension to high-value market transactions, influencer Logan Paul has sold an ultra-rare Pikachu Illustrator Pokémon card for a record-breaking $16.5 million. The card, which is the only one of its kind graded as a perfect 10 by PSA, was purchased by AJ Scaramucci. Paul had originally acquired the card for $5.3 million in 2021, representing a massive return on investment. The sale has been confirmed by Guinness World Records as the most expensive trading card ever sold at auction, highlighting the burgeoning valuation of alternative assets in the modern investment climate. These developments reflect the multifaceted nature of modern business, where professional integrity, regulatory transitions, and speculative investments converge. As BOSTenergies stabilizes under new domestic leadership and Hyatt Hotels seeks to move past executive controversy, the record-shattering sale in the collectibles market underscores a period of significant financial movement. These shifts demonstrate how both traditional corporate structures and emerging asset classes are being reshaped by individual decisions and broader market trends.

MTN Ghana and CalBank Mark 15 Years of "Save A Life" Campaign with Nationwide Blood Donation Drive
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MTN Ghana and CalBank Mark 15 Years of "Save A Life" Campaign with Nationwide Blood Donation Drive

MTN Ghana, in partnership with CalBank, has officially launched the 2026 edition of its flagship "Save A Life" campaign, marking a significant 15-year milestone for the initiative. Launched on Valentine's Day, February 14, 2026, the nationwide blood screening and donation exercise aims to bolster Ghana's blood banks. This year’s campaign is particularly critical as it responds directly to an urgent appeal from the National Blood Bank to replenish dwindling stocks across the country, further cementing MTN's position as a leading corporate contributor to the nation's healthcare system. The 2026 campaign features a robust infrastructure of 37 blood collection centers established across all 16 regions of Ghana. In the Savannah Region, specific activities were centered in Sawla and Bole, where organizers set a target of collecting at least 250 pints of blood. Local health personnel from various regional hospitals have been deployed to support these centers, ensuring that the screening and donation processes meet the highest medical standards. This nationwide reach underscores the scale of the partnership between MTN and CalBank in addressing a vital public health need through corporate social responsibility. A primary focus of this year's "Save A Life" campaign is the involvement of senior high schools. By targeting students and young adults, the initiative seeks to nurture a sense of patriotism and civic responsibility from an early age. The organizers believe that encouraging the youth to participate in voluntary blood donation not only addresses immediate shortages but also helps build a sustainable culture of giving. Beyond schools, the campaign has seen significant participation from local communities, as residents turned out on Valentine’s Day to show love through the life-saving act of donation. Over the past 15 years, the "Save A Life" initiative has evolved into one of Ghana's most consistent and impactful corporate programs. By integrating healthcare support with community engagement, MTN Ghana and CalBank continue to play a pivotal role in strengthening the country’s medical infrastructure. As the 2026 exercise continues, the long-term goal remains clear: to transition the nation toward a more reliable, voluntary blood donation system that ensures no patient in Ghana suffers due to a lack of available blood supplies.

Strong Investor Confidence and Sectoral Growth Drive Ghana’s Economic Momentum
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Strong Investor Confidence and Sectoral Growth Drive Ghana’s Economic Momentum

Ghana’s economic landscape is showing signs of robust growth and investor confidence, headlined by a significantly oversubscribed Treasury Bill auction and major investments in the agribusiness and aviation sectors. In February 2026, the Government of Ghana successfully raised GH¢8.99 billion in Treasury Bills, far exceeding its initial target of GH¢6.415 billion. The auction, managed by the Bank of Ghana, saw total bids reach GH¢22.67 billion across 91-day, 182-day, and 364-day tenors, representing a subscription rate of 141%. This surge in liquidity comes with weighted average discount rates of 8.4281% for the 91-day bill and approximately 10% for longer tenors, signaling a stable appetite for government securities as the nation sets a higher target of GH¢9.322 billion for its next tender. Parallel to financial market successes, the real sector is seeing a boost through strategic international partnerships. The Minister for Trade, Agribusiness, and Industry, Elizabeth Ofosu-Adjare, recently met with Spanish officials to deepen ties in the agribusiness sector. A major outcome of this cooperation is GB Foods Africa’s commitment to local production, evidenced by the acquisition of 6,000 acres for a dedicated tomato cultivation and processing project. This initiative is expected to enhance food security and industrialization by reducing reliance on imported raw materials. Minister Ofosu-Adjare emphasized that government support and collaborative policy frameworks remain essential to ensuring the sustainable scalability of such large-scale agricultural investments. Further supporting economic expansion, the Ghana Airports Company Limited (GACL) and the National Apprenticeship Programme (NAP) are focusing on infrastructure and human capital. Yvonne Nana Afriyiye Opare, Managing Director of GACL, has called for a strategic expansion of domestic and intra-regional air routes, such as Kumasi-Tamale and Tamale-Ho, to improve connectivity and stimulate regional economies. Simultaneously, the NAP is piloting a vocational initiative in the Ashanti Region targeting 2,000 youth. This programme, which pairs apprentices with 400 master craft persons, utilizes a transparent payment system through the Bank of Ghana to ensure funds directly empower the next generation of skilled workers. Together, these developments in finance, industry, and infrastructure point toward a comprehensive strategy for sustainable national development.

24-Hour Economy Secretariat and Bank of Ghana Partner to Align Policy with National Macroeconomic Framework
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24-Hour Economy Secretariat and Bank of Ghana Partner to Align Policy with National Macroeconomic Framework

The 24-Hour Economy Secretariat has held a high-level consultative meeting with the Bank of Ghana (BoG) to integrate its flagship policy into the nation’s broader macroeconomic framework. This strategic engagement marks a critical step in ongoing consultations aimed at refining the 24-hour economy initiative, ensuring it aligns with the central bank’s stability objectives. The meeting focused on sharing policy details, gathering institutional feedback, and establishing strategic partnerships to ensure the initiative's successful implementation across various sectors of the Ghanaian economy. During the session, Presidential Advisor Mr. Goosie Tanoh emphasized the necessity of building a resilient economy capable of sustaining long-term growth and global competitiveness. He commended the Bank of Ghana for its efforts in maintaining macroeconomic stability, which he described as a vital prerequisite for the 24-hour economy to thrive. The dialogue highlighted how the initiative could leverage existing financial stability to increase industrial productivity, create sustainable jobs, and enhance the overall efficiency of the Ghanaian market through round-the-clock operations. A central pillar of the discussions was the proposed establishment of a Food Security and Price Stabilisation Fund. This initiative is designed to mitigate the impact of commodity price volatility and curb food inflation, which remains a significant driver of national economic pressure. By stabilizing food prices, the Secretariat aims to protect the purchasing power of citizens and provide a more predictable environment for businesses involved in the agricultural and food processing value chains. Furthermore, the Secretariat and the BoG explored the development of a specialized "24H+ credit policy" and enhanced financial frameworks. These proposals include credit insurance schemes and improved collateral systems specifically tailored for enterprises operating on a 24-hour basis. The meeting also addressed the role of digital platforms in streamlining SME lending and expanding access to finance. These collaborations are expected to lead to strategic regulatory initiatives that will bolster Ghana’s financial infrastructure, providing the necessary support for local companies to scale their operations and contribute to a more dynamic, 24-hour economic landscape.

COCOBOD Leadership Takes Pay Cuts as Ghana’s Cocoa Sector Grapples with Liquidity Squeeze
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COCOBOD Leadership Takes Pay Cuts as Ghana’s Cocoa Sector Grapples with Liquidity Squeeze

In a decisive move to address severe financial distress within the nation’s cocoa industry, the Ghana Cocoa Board (COCOBOD) has announced immediate salary reductions for its top leadership and senior personnel. Effective February 16, 2026, members of the Executive Management will see a 20% cut in their earnings, while Senior Staff have voluntarily agreed to a 10% reduction. This measure is intended to mitigate a tightening liquidity squeeze and align the organization’s operational expenditures with dwindling revenues as the sector faces its most significant economic challenge in recent years. These salary adjustments are central to a broader cost-containment strategy designed to ensure the long-term sustainability of the cocoa industry. Beyond payroll reductions, COCOBOD is implementing comprehensive procurement reforms, staff rationalization, and stricter expenditure controls. According to official statements, these measures are expected to remain in place through the end of the 2025/26 crop year. The initiative is framed as a "shared sacrifice," intended to demonstrate institutional commitment to fiscal discipline while the board navigates rising operational costs and mounting revenue pressures. The internal austerity at COCOBOD mirrors the broader economic strain felt by cocoa producers across the region. The Ghanaian government recently adjusted the producer price of cocoa downward to GH¢41,392 per tonne, a move necessitated by falling global market rates and the need to maintain the financial viability of the purchasing system. This trend is not isolated to Ghana; in neighboring Ivory Coast, cocoa cooperatives in regions like Duekoue are reporting massive stockpiles of unsold beans. Ivorian exporters are reportedly refusing to pay the government-mandated price of 2,800 CFA francs ($5.09) per kilogram, citing weak global demand and high operational overheads. As the West African cocoa sector continues to buckle under these market pressures, the focus remains on safeguarding the livelihoods of millions of smallholder farmers who form the backbone of the industry. While the salary cuts at COCOBOD provide some immediate relief to the board's balance sheet, they underscore a deeper crisis regarding the sustainability of current pricing models. Industry analysts suggest that without a recovery in global cocoa prices or significant structural shifts in the market, the financial health of both state regulators and individual farmers will remain under intense scrutiny throughout the current harvest cycle.

Ghana’s Care Economy: ISSER Proposes Formalized Geriatric Care to Combat 13.6% Unemployment Rate
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Ghana’s Care Economy: ISSER Proposes Formalized Geriatric Care to Combat 13.6% Unemployment Rate

Professor Charles Ackah of the Institute of Statistical, Social and Economic Research (ISSER) has spotlighted Ghana’s emerging care economy as a critical, yet largely untapped, frontier for tackling the nation's rising unemployment. With projections suggesting a national unemployment rate of 13.6% for 2024, the call for formalizing adult and geriatric care comes at a time when traditional employment sectors are struggling to absorb the growing labor force. Prof. Ackah emphasizes that the aging population represents an unserviced market that, if properly structured, could serve as a powerful engine for mass employment and sustainable economic growth. Central to this proposal is the transformation of informal caregiving into a professionalized industry. Currently, care for the elderly in Ghana is predominantly informal and often falls on the shoulders of women, who must navigate the difficult balance between unpaid caregiving and their professional lives. By investing in specialized training for the youth, Ghana can create a new class of professional caregivers. This shift would not only provide much-needed jobs for young people—particularly those entering the labor market—but also alleviate the domestic pressures on women, potentially increasing their overall participation and productivity in other sectors of the economy. To successfully bridge this gap, Prof. Ackah advocates for the creation of a national policy framework and robust training programs to ensure high standards of service delivery. He draws comparisons to more advanced caregiving models in Europe and South Africa, suggesting that Ghana can learn from these systems to build a resilient care infrastructure. By formalizing this sector, the government can ensure that caregiving is viewed as a viable and respected career path rather than a domestic obligation. Such a move would improve the quality of life for the elderly and establish a new pillar for social welfare that aligns with modern economic needs. Looking ahead, the integration of the care economy into Ghana’s national development strategy offers a path toward both social equity and economic resilience. As the demographic landscape shifts and the demand for specialized elder care grows, the formalization of this sector will be essential. By taking proactive steps to train the workforce and regulate the industry, Ghana has the opportunity to turn a social necessity into a source of economic strength, providing a dignified future for its seniors and stable employment for its youth, ultimately contributing significantly to the nation’s overall social welfare.

AGI Urges Shift to Non-Traditional Exports to Shield Ghana from Global Market Volatility
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AGI Urges Shift to Non-Traditional Exports to Shield Ghana from Global Market Volatility

Kofi Nsiah-Poku, President of the Association of Ghana Industries (AGI), has issued a strong call to the Ghanaian government to accelerate export diversification strategies. This move is aimed at insulating the national economy from global price shocks and fostering sustainable industrial growth. Currently, Ghana relies heavily on three primary commodities—gold, crude oil, and cocoa—which together constitute approximately 80% of the country's total export earnings. This heavy concentration makes the national economy exceptionally vulnerable to the inherent fluctuations of the international market, necessitating a broader trade portfolio to ensure long-term stability. To mitigate this vulnerability, the AGI proposes a significant shift toward non-traditional exports. Specifically, Nsiah-Poku highlighted the immense potential of sectors such as cashew, coconut, and natural rubber. A critical component of this strategy involves shifting away from the export of raw materials toward local value addition. By processing commodities like cocoa and cashew within Ghana, the nation can significantly increase its revenue margins and create much-needed employment opportunities for the youth, effectively turning raw resources into finished industrial goods. Beyond boosting exports, the AGI President advocated for strategic import restrictions and policy reforms to protect local industries and stabilize the national currency. He suggested that products Ghana is capable of manufacturing domestically, such as fruit juices, should face import limits to encourage local production. Furthermore, adjusting policies on rice imports was identified as a vital step to conserve foreign exchange reserves and support local agriculture, which would ultimately help strengthen the cedi against major international currencies. The AGI reaffirmed its commitment to partnering with the government to drive the industrialization agenda. By focusing on manufacturing and value-added exports, Ghana can build a more resilient economic framework that is less susceptible to the volatility of international commodity markets. These reforms are seen as essential for long-term economic stability and the creation of a robust industrial base that supports the next generation of Ghanaian entrepreneurs and workers.

Vice President Opoku-Agyemang Urges Economic Patriotism Through Local Chocolate Consumption on National Chocolate Day
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Vice President Opoku-Agyemang Urges Economic Patriotism Through Local Chocolate Consumption on National Chocolate Day

Vice President Prof. Naana Jane Opoku-Agyemang has called on Ghanaians to transform Valentine’s Day into a celebration of economic patriotism by prioritizing locally manufactured chocolates over imported confectionery. Speaking on February 14, 2026, which also marks Ghana’s National Chocolate Day, the Vice President emphasized the need to align the celebration of love with a commitment to national development. This initiative seeks to leverage Ghana's position as the world's second-largest cocoa producer to drive industrial growth and support the domestic economy through conscious consumer choices. The "Choose Ghana" campaign, which has seen significant momentum throughout 2026, serves as the backdrop for this call to action. Prof. Opoku-Agyemang highlighted that by choosing indigenous brands such as Fairafric, Niche, and Cocobytes, consumers are doing more than just sharing gifts; they are actively bolstering the domestic cocoa value chain. She noted that supporting local entrepreneurship is essential for ensuring that more of the wealth generated from cocoa remains within the country, fostering job creation and innovation within the agricultural and manufacturing sectors. This shift in consumer behavior is presented as a vital step in honoring Ghana's esteemed cocoa heritage and empowering local processors. Beyond the immediate festivities, the Vice President’s message underscores a broader strategic shift toward value addition in Ghana's cocoa sector. Traditionally a bulk exporter of raw beans, Ghana is increasingly moving toward processing and the production of finished goods to capture more value from the global market. By encouraging "economic patriotism" during high-consumption periods like Valentine's Day, the government aims to instill a long-term preference for Ghanaian-made products. This cultural shift is seen as a critical component of building a more resilient, self-reliant economy that celebrates both national pride and industrial excellence.

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Motorists Brace for Higher Costs as Fuel Prices Set to Rise on February 16

Motorists and consumers across Ghana are preparing for a significant uptick in fuel costs at the pumps, following a new projection by the Chamber of Petroleum Consumers (COPEC). Starting Monday, February 16, 2026, prices for petrol, diesel, and Liquefied Petroleum Gas (LPG) are expected to rise across various retail outlets. This adjustment is driven by a dual pressure of a depreciating Cedi and tightening global market conditions for refined petroleum products, marking another period of volatility for the local energy sector. According to detailed projections from COPEC, petrol prices are estimated to increase by approximately 1.97%, while diesel prices are set to see a sharper rise of 2.73%. However, the most significant burden will be felt by consumers of LPG, which is projected to jump by 3.26%. Duncan Amoah, the Executive Secretary of COPEC, highlighted that these shifts are largely a reaction to international market dynamics, where refined product prices have surged between 4% and 6% in the recent pricing window. This international surge directly influences the landed cost of products within the Ghanaian market. The volatility is further compounded by the continuous decline in the value of the Ghana Cedi against the US Dollar. Since bulk oil distributors must procure products using foreign currency, the local currency's depreciation remains a primary driver for domestic price adjustments. Despite these upward pressures, Amoah noted that the full weight of international price hikes might not be immediately felt by the end-user. Intense competition among the country's various Oil Marketing Companies (OMCs) and the strategic management of existing stock levels may encourage some retailers to absorb a portion of the costs to maintain their market share. As the mid-February pricing window opens, the anticipated hike is expected to have ripple effects throughout the Ghanaian economy, potentially influencing transport fares and the cost of essential goods. Bulk distributors and retailers are already factoring in these projected increases as they restock for the second half of the month. COPEC continues to monitor the situation closely, advising the public to prepare for the adjustments while suggesting that internal market dynamics and competitive pricing may provide a slight cushion against the full impact of global price surges.

Ghana’s Cocoa Crisis "Self-Inflicted": MP Critiques Missed Forward Sales and Strategic Management Failures
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Ghana’s Cocoa Crisis "Self-Inflicted": MP Critiques Missed Forward Sales and Strategic Management Failures

The Member of Parliament for Oforikrom, Michael Kwasi Aidoo, has raised alarms over the current state of Ghana’s cocoa industry, describing the sector's mounting challenges as "self-inflicted." Speaking on JoyNews, Aidoo argued that the difficulties facing the industry are not merely the result of global market volatility but are rooted in a series of missed opportunities and poor policy decisions. He criticized authorities for failing to capitalize on a period of unprecedented highs in global cocoa prices between 2023 and early 2025, suggesting that a lack of strategic foresight has left the nation’s primary export crop vulnerable to sudden market downturns. At the heart of the critique is the government’s failure to secure favorable prices through forward sales contracts when market rates were at their peak. Aidoo pointed out that despite cocoa prices reaching record highs of approximately $10,000 per metric tonne, Ghana only managed to sell about 82% of its beans during that period. This left an estimated 50,000 to 70,000 tonnes of cocoa unsold when the market eventually corrected, leading to significant financial losses. The MP emphasized that had authorities acted decisively to lock in these historic export prices, the industry would be in a much stronger fiscal position today. Beyond trading strategies, Aidoo highlighted how operational transparency and regional production trends have exacerbated the crisis. He noted that early public announcements regarding domestic price hikes inadvertently disrupted delivery schedules, creating friction within the supply chain. Furthermore, as production expectations in both Ghana and the Ivory Coast began to rise, the resulting increase in global supply contributed to the sharp drop in prices. According to Aidoo, these factors combined to create a "perfect storm" that could have been mitigated with more sophisticated market analysis and better-timed interventions. The implications of these management failures extend far beyond the balance sheets of the Ghana Cocoa Board (COCOBOD). With over 800,000 farming households depending on cocoa for their livelihoods, the current instability threatens the economic backbone of rural Ghana and the country's overall export earnings. Aidoo’s remarks serve as a critical call for a fundamental shift in how the cocoa sector is managed, advocating for improved forward-planning and more robust trading mechanisms to safeguard the industry against future price volatility and ensure the long-term sustainability of Ghana's cocoa economy.

Keta Businesses Set for Revenue Boost as Valentine’s Day Preparations Hit High Gear
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Keta Businesses Set for Revenue Boost as Valentine’s Day Preparations Hit High Gear

Businesses in the Keta Municipality of the Volta Region are gearing up for a significant economic windfall as Valentine’s Day approaches. Local entrepreneurs and service providers have reported a noticeable uptick in commercial activity, with expectations of a major revenue surge during the festive period. This anticipation is fueled by a collective effort across various sectors to capitalize on the season of love, transforming the municipality into a hub of commercial and social engagement. Retailers in Keta have been at the forefront of this trend, stocking up on seasonal favorites such as chocolates, flowers, and red-themed apparel. Madam Regina Deladem Ametsime, a local boutique owner, highlighted that businesses are not just selling goods but are curating experiences. Restaurants and hospitality services are rolling out specialized packages designed to attract both local couples and visitors. These offerings often include discounted meals and tailored entertainment options, creating a competitive yet vibrant market environment within the municipality. The economic impact extends beyond traditional retail, benefiting a wide array of Small and Medium-sized Enterprises (SMEs). Graphic designers, bakers, and photographers are reporting increased patronage as individuals and organizations seek custom gifts and professional services to commemorate the day. Furthermore, Keta's natural landmarks, particularly the Keta Lagoon, are expected to serve as major attractions for tourists and revelers. This influx of visitors is projected to provide a significant boost to the local economy, supporting vendors and service providers who are organizing various entertainment events scheduled for February 14. This surge in activity underscores the resilience and creativity of local entrepreneurs in Keta. By leveraging the cultural significance of Valentine’s Day, these businesses are not only boosting their individual bottom lines but are also contributing to the broader economic vitality of the Volta Region. As preparations reach their peak, the optimism among the business community remains high, signaling a successful start to the year's festive calendar for the municipality.