Ghana Business News

Follow the latest Ghana business and economy news: the cedi, inflation, companies, banking, and trade. Coverage is curated from Ghana's leading newsrooms and kept current through the day, newest first.

A group photograph featuring traditional Ghanaian chiefs in ceremonial Kente cloth and Heath Goldfields employees in yellow high-visibility uniforms. They are gathered outdoors in front of a covered stage during a community engagement event for the Bogoso-Prestea Mine.
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Heath Goldfields Commits to Revitalize Bogoso-Prestea Mine for Community Benefit

Heath Goldfields has pledged to transform the Bogoso-Prestea Mine into a sustainable and profitable operation that prioritizes the welfare of local communities. During a recent thanksgiving ceremony, Managing Director Patrick Appiah Mensah highlighted the company's commitment to changing the negative perceptions associated with mining, emphasizing the importance of responsible practices and community development. Traditional leaders in the area have expressed optimism regarding the new management, viewing it as a potential turning point for improving local livelihoods and infrastructure after years of economic struggles. The company aims to enhance productivity and engage actively with residents, marking a new chapter for the historically significant mine in Ghana's Western Region.

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Ghana's Ports Experience 23% Surge in Container Traffic Amid Declining Passenger Arrivals

Ghana's seaports, particularly Tema and Takoradi, have reported a significant increase in trade activity, as highlighted in the Bank of Ghana's November 2025 Monetary Policy Report. Container traffic saw a remarkable year-on-year rise of 20.6% in September 2025, totaling 73,648 containers, contributing to an overall increase of 23.2% in container traffic for the first three quarters of the year, reaching 647,536 containers. In contrast, passenger arrivals have experienced a slight decline, dropping by 1.3% year-on-year to 102,078 in September 2025. The cumulative figures for passenger arrivals over the first nine months of 2025 remained relatively stable at 938,210, compared to 941,692 in the same period of 2024. This mixed performance indicates a robust growth in trade while passenger movements are softening, reflecting broader economic trends in the country.

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Bank of Ghana Warns Banks on Forex Trading Licence Compliance Amid Fraud Risks

The Bank of Ghana has issued a critical warning to commercial banks regarding the renewal of their foreign exchange trading licences, emphasizing that compliance with regulatory standards is now mandatory. This directive comes in response to significant weaknesses identified in the banks' handling of foreign currency transfers, which have raised concerns about operational integrity and increased risks of fraud. In a public notice dated January 12, 2026, the central bank outlined several new requirements for banks, including the implementation of robust verification protocols, enhanced anti-money laundering (AML) and counter-financing of terrorism (CFT) checks, and mandatory daily reconciliations of transactions. Additionally, banks are required to conduct internal audits and ensure continuous training for their staff to uphold operational integrity. The Bank of Ghana has made it clear that non-compliance with these directives could lead to sanctions under existing financial regulations, reinforcing its commitment to maintaining the stability and credibility of Ghana's foreign exchange market. This move aims to safeguard the banking sector against potential fraud and to enhance the overall regulatory framework governing foreign exchange transactions in the country.

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Ghana Revenue Authority Aims for GH¢225 Billion Revenue Target by 2026 with VAT Reforms

The Ghana Revenue Authority (GRA) has set an ambitious revenue target of GH¢225 billion for the fiscal year 2026, focusing on significant reforms to the Value Added Tax (VAT) system. Key changes include raising the VAT registration threshold from GH¢200,000 to GH¢750,000 to alleviate compliance burdens for smaller businesses. The new framework will also introduce input tax credits for the National Health Insurance Levy (NHIL) and the GETFund levy, reduce the effective VAT rate to 20%, and abolish the VAT Flat Rate Scheme for retailers. Commissioner-General Anthony Sarpong highlighted the importance of enhancing domestic tax compliance to achieve this target, emphasizing that increased revenue is crucial for national development and aligns with the President’s vision for economic growth.

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Bank of Ghana's Gold Purchase Programme: A Strategic Response to Economic Challenges

The Bank of Ghana (BoG) has made significant strides in stabilizing the economy through its Domestic Gold Purchase Programme (DGPP), initiated in 2021. Governor Dr. Johnson Pandit Asiama reported that the program has successfully mobilized over $17 billion in gold value, with approximately 100 tonnes contributing nearly $10 billion in foreign exchange in 2025 alone. This initiative was launched in response to declining foreign exchange reserves and aims to enhance market liquidity rather than generate profit. Despite facing cumulative losses of GHS4.893 billion since its inception, the program remains pivotal for reserve accumulation and foreign exchange diversification. In light of past losses attributed to timing issues, foreign exchange effects, and transaction costs, the BoG has implemented tighter controls and reduced transaction fees to improve the program's sustainability. Transaction costs have been slashed to about 1.7%, and major reforms are planned for 2026 to further enhance operational efficiency. Dr. Asiama emphasized that all transactions are conducted at market prices, countering claims of selling gold at a loss. The Governor has called for a unified national response to address the challenges facing the Gold-for-Reserves (G4R) program, highlighting the need for collaborative reforms and timely budget allocations to ensure the program's long-term viability. The BoG's total gold holdings have reached 110.99 tonnes, valued at approximately $11.399 billion, underscoring the importance of this initiative in bolstering Ghana's economic resilience amid ongoing financial pressures.

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Volta Region Engages US Investors to Boost Entrepreneurship and Innovation

James Gunu, the Volta Regional Minister, recently met with a delegation of U.S. investors in Sogakope to explore potential partnerships aimed at enhancing innovation, entrepreneurship, and technology in the region. The delegation, which included representatives from the Conscious Immersion Group and the Onyx Group, expressed a strong interest in collaborating to leverage economic opportunities that could foster growth in the Volta Region. During the meeting, Gunu highlighted the region's significant potential for targeted investments, particularly emphasizing the Volta Lake Economic Corridor project. He underscored the critical role of private sector involvement in driving sustainable development and job creation. The investors provided updates on their previous engagements and reiterated their commitment to helping establish the Volta Region as a hub for innovation and entrepreneurship. Gunu assured the delegation of the region's dedication to fostering partnerships that would contribute to economic development.

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Ghana Publishing Company Thrives Under 24-Hour Economy Policy

The Ghana Publishing Company Limited (GPCL) has successfully transformed its operational and financial landscape by adopting the Government’s 24-Hour Economy policy. Managing Director Nana Kwasi Boatey announced that the implementation of a two-shift system has not only saved approximately 100 jobs but has also significantly enhanced publication turnaround times, reducing the time for gazette publications from eight weeks to just three. With improved revenues, GPCL has been able to pay a 13th-month salary and increase staff salaries by 40%. The company has also inaugurated a new Digital Press Centre, marking a significant step in its modernization efforts. President John Dramani Mahama commended GPCL for its turnaround, noting that the company no longer requires government bailouts. He encouraged GPCL to register for incentives under the new economy model, highlighting the positive impact of the 24-Hour Economy on businesses in Ghana.

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Ghana's Gold Board: A Strategic Tool for Economic Transformation and Forex Stability

A recent series of studies from the University of Ghana highlights the Ghana Gold Board (GoldBod) as a pivotal mechanism for reshaping the nation's macroeconomic landscape. Designed not as a commercial trader but as a state-led entity, GoldBod aims to address historical market failures in Ghana's gold sector, including fragmented purchasing systems and capital flight. The centralized export model proposed by GoldBod is expected to stabilize foreign exchange inflows, enhance liquidity, and reduce inflation, ultimately fostering a more predictable business environment. The studies emphasize that despite Ghana being Africa's leading gold producer, the country has struggled to capture the full economic benefits of its gold resources due to poor management of foreign exchange revenues. By ensuring that gold proceeds are funneled through formal financial channels, GoldBod could significantly improve the retention of foreign exchange earnings, thereby supporting balance-of-payments stability and strengthening the cedi. Moreover, GoldBod is positioned as a governance innovation that could integrate artisanal and small-scale miners into a regulated framework, promoting better labor standards and environmental oversight. However, the authors caution that the success of GoldBod hinges on maintaining institutional independence and robust compliance mechanisms, free from political interference. If effectively governed, GoldBod could serve as a model for other resource-rich African nations seeking to leverage their natural wealth for macroeconomic stability. In a related development, the Chamber of Cannabis Industry Ghana has called for strategic implementation of the country's medicinal and industrial cannabis policy by 2026, emphasizing the potential for job creation and pharmaceutical development in this emerging sector. The legalization of low-THC cannabis cultivation in 2020 marked a significant step towards economic transformation, and the Chamber is advocating for a coordinated approach to ensure Ghana's responsible participation in the global cannabis market.

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SSNIT Enhances Investment Strategy to Secure Future Pensions for Ghanaian Retirees

The Social Security and National Insurance Trust (SSNIT) has unveiled plans to strengthen its investment strategy aimed at ensuring a sustainable future for pensioners in Ghana. During a recent meeting in Accra focused on the 2026 pensions indexation, Director-General Kwesi Afreh Biney announced a 10% increase in pensions, which will incur an additional cost of GHS616.6 million this year. With total assets reaching GHS25 billion, SSNIT is the largest investor on the Ghana Stock Exchange, having investments in 22 out of the 33 listed companies. The Trust aims to diversify its portfolio, particularly in key sectors such as energy and hospitality, to stimulate economic growth and provide financial stability for over 261,920 pensioners. As part of the new strategy, the minimum monthly pension will rise from GHS300 to GHS400, benefiting approximately 70% of current pensioners. SSNIT also plans to expand its contributor base by targeting an additional 200,000 active contributors by 2026. Chief Actuary Evelyn Adjei emphasized that these adjustments are designed to prioritize low-income pensioners while maintaining the integrity of the pension scheme for future generations.

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Ghana's Government Settles $393 Million in IPP Debts to Stabilize Energy Sector

The Ministry of Finance has announced that the Mahama administration paid approximately $393 million to Independent Power Producers (IPPs) in 2025 as part of a broader $1.47 billion initiative aimed at stabilizing Ghana's energy sector. This significant payment is intended to clear inherited debts and restore investor confidence in the energy market. Key beneficiaries of these payments include Karpowership Ghana Limited, which received $120 million, Cenpower Generation Company with $59.44 million, and Sunon Asogli Power, which was allocated $54 million. In addition to these payments, the government has renegotiated contracts with IPPs to ensure better value for money and has implemented a Cash Waterfall Mechanism designed to prevent future arrears. This strategic approach reflects the administration's commitment to improving payment performance and increasing domestic gas production, thereby reducing reliance on costly liquid fuels and enhancing the overall sustainability of Ghana's energy sector.

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COPEC Urges Caution Amid Ghana's Economic Recovery: No Room for Complacency

Duncan Amoah, Executive Secretary of the Chamber of Petroleum Consumers (COPEC), has issued a stern warning against premature celebrations regarding Ghana's economic recovery. Speaking on Channel One TV on January 10, 2026, he emphasized that while there have been notable improvements, the economy remains in a fragile recovery phase. Amoah highlighted that inflation has significantly decreased from over 54% in 2022 to 5.4% in December 2025, following a $3 billion reform program backed by the International Monetary Fund (IMF). However, he cautioned that the nation must exercise fiscal restraint and avoid the pitfalls of populism that have historically followed temporary economic gains. Amoah's remarks underscore the importance of consistent and prudent economic management to ensure that the benefits of recovery reach ordinary Ghanaians, rather than succumbing to the allure of short-term celebrations. He reiterated that the focus should remain on sustainable strategies to solidify these gains in the face of ongoing global economic challenges.

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Ghana's Economic Landscape: Inflation Declines, Infrastructure Initiatives, and Sovereign Wealth Fund Growth

Ghana's economic landscape is witnessing significant developments as inflation rates drop, infrastructure initiatives gain momentum, and the Minerals Income Investment Fund (MIIF) aims for global recognition. According to the Ghana Statistical Service, inflation fell to 5.4% in December 2025, marking the twelfth consecutive month of decline. This reduction from 6.3% in November and a staggering 23.8% in December 2024 is attributed to improved macroeconomic conditions, with food inflation decreasing to 4.9% and non-food inflation to 5.8%. The Bank of Ghana's Governor, Dr. Johnson Asiama, credited this achievement to effective fiscal and monetary policies, including a reduction in the monetary policy rate from 27% to 18%, alongside improved food supply and inter-institutional collaboration. He also highlighted a historic increase in international reserves, now exceeding $13.8 billion, emphasizing the importance of maintaining currency stability. In parallel, Kwaku Osei-Sarpong, CEO of CIPA Holdings Group, announced plans to establish new institutions aimed at driving Africa's transition to clean and bankable infrastructure. Recognized by Forbes Africa for its climate-resilient approach, CIPA is expanding its operations across multiple African markets, focusing on clean energy solutions and local assembly of renewable components. The firm aims to support Ghana's transition agenda while promoting social impact through initiatives that empower women and youth. Additionally, Justina Nelson, CEO of MIIF, reaffirmed her commitment to establishing the Fund as a leading sovereign wealth fund by 2026. Following a successful 2025, which saw a 40.18% increase in gold mining royalties, MIIF plans to build on its financial performance through collaboration with stakeholders in the mining sector. These developments reflect Ghana's ongoing efforts to stabilize its economy, enhance infrastructure, and optimize resource management for sustainable growth.