Ghana Business News

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Global Oil Prices Surge as US-Iran Tensions Threaten Middle East Supply and Strait of Hormuz Trade
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Global Oil Prices Surge as US-Iran Tensions Threaten Middle East Supply and Strait of Hormuz Trade

Global oil markets are experiencing a second consecutive weekly rise as prices remained stable on Friday, driven by intensifying geopolitical tensions between the United States and Iran. Brent crude was trading at $93.82 per barrel, while West Texas Intermediate (WTI) stood at $86.78. The market's upward trajectory reflects deepening concerns over potential supply disruptions from the Middle East, a region critical to global energy security. Investors are closely monitoring the situation as the conflict continues to crimp output and unsettle international trade routes. The current volatility is largely attributed to the expiration of a peace deal between involved nations, which has heightened fears of significant production cuts from major oil producers. Since late February, the conflict has severely impacted the flow of global oil and gas, particularly through the Strait of Hormuz. Historically, this narrow waterway has served as a conduit for a substantial portion of the world's oil shipments, making any threat to its passage a major catalyst for price spikes. The breakdown of diplomatic efforts has left the market on edge, with supply chains increasingly vulnerable to the ongoing hostilities. Adding to the geopolitical complexity, U.S. President Donald Trump has issued warnings of economic repercussions against nations and entities providing support to Iran. This hardline stance suggests a further tightening of sanctions and potential long-term constraints on Iranian energy exports. As the international community watches for the next development in this high-stakes standoff, the global economy faces the prospect of sustained high energy costs. Analysts suggest that unless a new diplomatic framework is established, the pressure on global oil stocks will continue to drive market uncertainty in the coming weeks.

DVLA to Launch Nationwide Instant Printing of Renewed Driver’s Licences by October 2026
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DVLA to Launch Nationwide Instant Printing of Renewed Driver’s Licences by October 2026

The Driver and Vehicle Licensing Authority (DVLA) has announced a major strategic shift aimed at eliminating chronic delays in the issuance of driver’s licences across Ghana. By the end of October 2026, the Authority plans to decentralise its printing operations, enabling regional and local offices nationwide to print renewed licences instantly. This initiative is expected to address long-standing grievances regarding the current centralized system, which has often resulted in applicants waiting for up to a year to receive their permanent plastic cards. According to the Chief Executive of the DVLA, Julius Neequaye Kotey, the decentralisation move is designed to enhance accessibility and operational efficiency. Currently, all licences are processed through a central hub, creating a significant bottleneck that hampers service delivery. By equipping individual DVLA offices with the capacity to print cards locally, the Authority intends to provide a more seamless experience for motorists, ensuring that renewed documentation is handed over immediately upon application. It is important to note that the instant printing service will primarily apply to the renewal of existing licences and the issuance of replacement cards for lost or damaged ones. The process for first-time applicants will remain distinct; new drivers will still be required to complete a mandatory three-month process, including training and testing, to ensure compliance with safety standards and international best practices. This distinction ensures that while administrative efficiency is improved for existing drivers, the integrity of the qualification process for new motorists is maintained. This modernization effort represents a significant step in the DVLA’s broader goal of meeting international standards and improving the ease of doing business within the transport sector. As the October 2026 rollout approaches, the Authority is expected to focus on upgrading the technological infrastructure at its various regional offices to support local printing. The transition is poised to reduce the reliance on temporary paper permits and provide Ghanaian drivers with a more reliable and professional licensing service.

Digital Innovation and Shifting Worker Priorities Redefine Ghana’s Business Landscape
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Digital Innovation and Shifting Worker Priorities Redefine Ghana’s Business Landscape

Ghana’s business ecosystem is undergoing a significant transformation in 2026, fueled by a surge in digital integration and a fundamental shift in workforce expectations. Small and Medium-sized Enterprises (SMEs), which account for 60% of the nation’s GDP and over 90% of all businesses, are increasingly leveraging Information and Communication Technology (ICT) to overcome traditional barriers. With a financing gap estimated at $4.8 billion, the rise of mobile money and digital platforms is providing the Bank of Ghana with the transaction data necessary to establish formal credit histories for previously "unbankable" businesses. This digital evolution is further evidenced by the burgeoning video gaming and esports industry, which emerged as a $121 million opportunity last year, signaling a move toward more sophisticated digital value creation. Parallel to this technological shift is a change in the Ghanaian labor market's priorities. According to the 2026 Employee Motivation Survey Report (EMSR), job security and the pursuit of a "dream job" have overtaken salary as the primary motivators for workers. The report, conducted by Data Insight and partners, ranks career development, a safe work environment, and manager relationships among the top five factors for employee engagement, notably excluding financial compensation from the top tier. This trend was echoed at the recent HR Connect Conference, where Telecel Ghana HR Director Rachael Appenteng challenged practitioners to align workforce strategies with business outcomes, emphasizing that HR must master digital and analytical skills to remain relevant in a technology-driven economy. Capacity building and resilience have become central themes for Ghanaian entrepreneurs navigating this new reality. At the third MTN Masterclass Series in Accra, over 120 participants engaged with experts on thriving in a "digital-first" world, focusing on artificial intelligence and strategic partnerships. Complementing these practical skills is a push for a cultural shift in how failure is perceived; industry experts are advocating for failure to be viewed as an essential component of growth rather than a final outcome, encouraging entrepreneurs to take the necessary risks required for innovation and long-term success. The government is moving to support these developments through the National E-commerce Strategy and the MSME Digital Gateway, aiming to facilitate access to $6 billion in concessional loans. As stakeholders from both the private and public sectors converge, the focus is shifting from passive digital consumption to active innovation. By addressing digital literacy, infrastructure costs, and ethical workplace cultures—as highlighted by Minister Hon. Dr. Abdul-Rashid Hassan Pelpuo—Ghana is positioning its SME sector and youth to be competitive leaders in the global digital economy.

Gospel star Diana Hamilton joins Onga family as brand ambassador
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Ghana's Cocoa Sector Transitions to 24-Hour Operations Under President Mahama as Promasidor Names Diana Hamilton Brand Ambassador

The Cocoa Marketing Company (Ghana) Limited (CMC) has taken a significant step toward transforming Ghana’s agricultural logistics by launching a new 24-hour operational model. This initiative, unveiled by Managing Director Wisdom Kofi Dogbey, is a direct implementation of President John Dramani Mahama’s 24-Hour Economy policy. The model is structured around three core pillars—Offload 24, Load 24, and Export 24—which are designed to eliminate the inefficiencies of traditional working hours. By allowing continuous operations, the CMC aims to improve truck turnaround times, support local processing, and better align Ghana’s cocoa export preparations with international shipping schedules, ultimately enhancing the nation’s competitiveness in the global market. In the consumer goods sector, Promasidor Ghana has further strengthened its market position by appointing celebrated gospel musician Diana Antwi Hamilton as the Brand Ambassador for Onga Tomato Mix. Commercial Director Abiodun Ayodeji noted that Hamilton’s persona and connection with Ghanaian families perfectly align with the brand’s values of warmth and quality. The Onga Tomato Mix product line is not only designed to enrich the flavor of local staples like Jollof rice and stews but is also fortified with essential nutrients including fiber, Vitamin A, Vitamin D, and Zinc. Hamilton expressed her enthusiasm for the partnership, citing her personal use of Onga products in her own kitchen as a testament to the brand’s reliability. Parallel to these economic and marketing advancements, corporate responsibility remains a focal point as QNET reaffirmed its commitment to ethical business practices and the fight against human trafficking. In a collaborative effort with the Economic and Organized Crime Office (EOCO) and INTERPOL, QNET supported the rescue and repatriation of 44 foreign nationals, including 33 individuals from Burkina Faso who had been victims of travel scams and fraudulent recruitment. This intervention followed a regional workshop aimed at equipping law enforcement with better tools to combat transnational organized crime. QNET continues to urge public vigilance against criminal networks that misuse corporate identities to exploit vulnerable job seekers. These diverse developments across the logistics, manufacturing, and service sectors signal a broader shift in Ghana’s business environment toward efficiency and ethical accountability. The transition of the cocoa sector to a 24-hour cycle is expected to set a precedent for other state-linked industries, while the high-profile branding and social responsibility initiatives of private firms like Promasidor and QNET demonstrate a multifaceted approach to growth. As the 24-hour economy policy takes root, stakeholders are being called upon to adapt their operational schedules to maximize the potential for nationwide economic expansion.

Ghana Strategizes to Capitalize on China’s Zero-Tariff Policy as Volta Region Courts Lithium Investors
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Ghana Strategizes to Capitalize on China’s Zero-Tariff Policy as Volta Region Courts Lithium Investors

Ghanaian business leaders and trade associations are intensifying calls for structural reforms and government support to maximize the benefits of China’s zero-tariff policy. The Ghana Union of Traders’ Associations (GUTA) and the Importers and Exporters Association of Ghana (IEAG) have emphasized that without streamlined regulatory processes and lower operational costs, local manufacturers may struggle to compete. GUTA President Clement Boateng warned that high utility tariffs and limited access to long-term financing have historically hindered Ghana's success with similar agreements like AGOA. Meanwhile, IEAG Executive Secretary Sampson Asaki Awingobit is demanding a one-month limit on export product registrations, proposing a single digital platform for all agencies to process requests concurrently, modeled after Nigeria’s successful trade infrastructure. During a High-Level Ghana-China Zero Tariff Policy Roundtable in Accra, stakeholders noted that Ghana’s exports to China reached $2.67 billion in 2025. Experts from the Africa-China Centre for Policy & Advisory (ACCPA) and CEIBS Africa highlighted that while the policy offers 100% market access, Ghanaian businesses must build significant capacity in quality control and certification to remain competitive. The consensus among trade leaders is that the government must provide technical assistance and better market linkages to ensure that the manufacturing sector can scale up production to meet the demands of the vast Chinese market. Parallel to these trade initiatives, the Volta Region is positioning itself as a hub for green energy and natural resource investment. Dr. Gabriel Tanko Kwamigah-Atokple, the Volta Regional Representative on the Council of State, recently engaged with American multibillionaire Dr. John P. Rochon of Richmont and Al Lewis of Catalyst Green LLC. The discussions centered on lithium exploration and the development of local processing industries. Dr. Kwamigah-Atokple stressed a shift away from exporting raw materials, aiming instead to create local jobs and value-added industries that will transform the region’s economic landscape through strategic international partnerships. On the regional and global front, broader economic shifts are shaping the investment climate. The World Bank has launched a Country Partnership Framework for Nigeria (2026-2032) that aims to mobilize $4.1 billion in private capital to provide electricity to 32 million people and broadband to 58 million. Globally, the beauty sector in India is projected to reach $40 billion by 2030, driven by Gen Z consumers, while retail giant Walmart faces slowing sales growth in the U.S. due to rising fuel costs impacting lower-income households. These diverse developments underscore a period of strategic recalibration as Ghana and its neighbors seek to navigate evolving global trade dynamics and resource demands.

Receiver seeks stay of execution after No.1 Oxford Street Hotel handover order
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Absa-SHC Mortgage Partnership and Court-Ordered Return of No. 1 Oxford Street Hotel Lead Ghana’s Real Estate Developments

Ghana’s housing and real estate sectors saw significant movement this week as institutional partnerships and high-profile legal rulings converged to address the nation’s property landscape. At the forefront, Absa Bank Ghana and the State Housing Company (SHC) signed a landmark Memorandum of Understanding on August 19, 2026, aimed at tackling the country’s estimated 1.8 million housing deficit. This strategic collaboration is designed to provide accessible mortgage financing for Ghanaians, with a specific focus on making homeownership more affordable through lowered interest rates. The SHC has committed to supplying up to 1,000 housing units next year, specifically targeting lower-income households to ensure that the partnership prioritizes social impact over immediate profit. Parallel to these institutional efforts, the 2026 Republic Bank-JoyNews Habitat Mini-Fair launched on August 21 at the Achimota Mall in Accra. Under the theme “Dream it. Explore it. Own it,” the three-day event served as a critical platform for prospective homeowners, investors, and builders to engage directly with industry professionals. The fair, which serves as a precursor to the main annual Habitat Fair, allows patrons to compare construction solutions and receive expert guidance on property investment. Organizers noted high engagement on the opening day, with increased foot traffic expected throughout the weekend as more Ghanaians seek viable pathways to owning homes in a competitive market. In the legal arena, the Accra High Court has issued a significant ruling regarding the ownership of the No. 1 Oxford Street Hotel. Justice John-Mark Nuku Alifo overturned a previous July 23 takeover of the property, ordering the immediate return of the hotel and its related assets to Nana Kwame Bediako’s Kensington Residential Partners 1 Limited. The court deemed the prior takeover by Nii Amanor Dodoo and Cola Holdings Limited as unlawful and mandated a supervised handover by the court registrar. The ruling represents a major victory for the businessman, popularly known as Cheddar, as the court moves to restore his company’s control over the luxury facility. However, the legal battle over the Osu-based hotel is set to continue, as the Receiver, Nii Amanor Dodoo, has filed for a stay of execution against the High Court’s order. Citing procedural errors and jurisdictional concerns, the Receiver is challenging the mandate to hand back the property. A hearing for the stay of execution is scheduled for October 16, 2026. These developments, ranging from the expansion of affordable mortgage options to the resolution of high-stakes commercial property disputes, underscore a period of intense activity and transformation within the Ghanaian business and real estate sectors under the current administration.

Ellis Erasmus Katwebaze appointed new Deputy MD of Bank of Africa Ghana
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Ghana's Financial Sector Sees Robust Growth in Insurance and Credit Unions Amidst Regulatory Shifts and Fintech Legal Challenges

Ghana’s financial and insurance landscape is experiencing a period of significant transformation, marked by strong revenue growth in the non-life insurance sector and a milestone regulatory expansion by the Bank of Ghana. In 2025, the six largest non-life insurers—Enterprise Insurance, SIC Insurance, Star Assurance, Glico General, Hollard Insurance, and Ghana Union Assurance—consolidated their market dominance, accounting for 61.4% of industry revenue. Leading this charge, SIC Insurance PLC reported a 57.3% surge in profit after tax, reaching GH¢84.05 million for the 2025 financial year. This growth was largely driven by fire and motor insurance revenues, leading the company to declare a dividend of 10.22 pesewas per share despite a broader industry-wide dip in investment income due to shifting capital frameworks. Simultaneously, the Bank of Ghana (BoG) has formally introduced a regulatory framework for non-interest banking, paving the way for Islamic banking services focused on profit-sharing rather than interest charges. The initiative is bolstered by the newly established Non-Interest Financial Advisory Council (NIFAC), chaired by Governor Dr. Johnson Pandit Asiama, which aims to enhance financial inclusion. Adding to this regulatory evolution, Mansu Technologies became one of only two firms to receive dual approval from both the BoG and the Securities and Exchange Commission (SEC) to operate within their respective virtual asset sandboxes. Meanwhile, the regional ECOWAS Bank for Investment and Development (EBID) received a credit rating upgrade from Moody’s to B1, reflecting its resilient financial position and the entry of the African Development Bank as a strategic shareholder. The cooperative sector is also showing signs of maturity, as the Queen of Peace Cooperative Credit Union achieved its first-ever Grade ‘A’ rating for the 2025 financial year. The Union reported a net surplus exceeding GH¢3 million—a 33.66% increase—and saw its total assets grow to over GH¢52 million. This financial stability has enabled the Union to pivot toward specialized loan products for Micro, Small, and Medium Enterprises (MSMEs). This period of growth is accompanied by executive shifts, with Bank of Africa Ghana appointing Ellis Erasmus Katwebaze as its new Deputy Managing Director to lead its strategic expansion and customer-centric initiatives. However, the fintech and digital payment sector faces new hurdles as the High Court’s Commercial Division in Accra ordered a freeze on the assets and management of Zeepay Ghana Limited. The ruling, issued in August 2026, follows a winding-up petition filed by the Registrar of Companies under the Corporate Insolvency and Restructuring Act. To mitigate risks and foster long-term stability, industry leaders are doubling down on consumer protection and financial literacy. Republic Bank and Enterprise Life have launched enhanced insurance products to protect family incomes, while Prudential Bank has intensified its youth mentorship efforts, urging young professionals to adopt disciplined financial habits to resist lifestyle inflation in an evolving economy.

GRA Resolves Ghana.gov Payment Challenges as FDA Records Significant Financial Surplus
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GRA Resolves Ghana.gov Payment Challenges as FDA Records Significant Financial Surplus

The Ghana Revenue Authority (GRA) is currently working to resolve a series of technical challenges that have disrupted tax payment processing on the Ghana.gov platform since August 14, 2026. The intermittent issues have specifically impacted transactions through the Integrated Customs Management System (ICUMS), the Integrated Tax Administration System (ITAS), and the Ghana Integrated Tax Management and Information System (GITMIS). While the GRA has assured the public that the filing of tax returns remains unaffected, the delays in payment processing have created significant hurdles for taxpayers, importers, and clearing agents. The Authority is collaborating with technical partners to ensure all outstanding transactions are reflected correctly as the system normalizes. This technical disruption comes at a time when the GRA is intensifying its transition toward a more data-driven and digital tax administration. Speaking at the 2026 Statistics and Data Analysts’ Seminar in Ho, Technical Advisor Elsie Appau-Klu emphasized the necessity of modern statistical tools to navigate the digital economy and address persistent revenue mobilization challenges. Specifically, the Authority is focusing on improving low VAT collection and corporate tax revenue through enhanced risk management and more accurate revenue forecasting. The GRA’s commitment to a cashless payment policy and the consolidation of tax functions through ITAS remains a priority despite the current technical setbacks. While the GRA manages these infrastructure hurdles, the Food and Drugs Authority (FDA) has reported a robust financial performance for the 2025 fiscal year. During a stakeholders’ meeting in Accra, Deputy Director of Finance Samuel Adom-Siaw announced that the FDA recorded a surplus of GH¢70 million, marking a 51% increase over the previous year’s GH¢46 million. The agency generated GH¢420 million in total revenue, with internally generated funds accounting for 66% of that figure. This financial growth was mirrored by an increase in total assets, which rose to GH¢358 million, while total liabilities saw a sharp decline to GH¢3.4 million. Despite the FDA’s financial success, the agency highlighted critical operational challenges that mirror the infrastructure concerns at the GRA. The FDA is currently grappling with ageing laboratory equipment, with some units being between eight and 20 years old, which could impact future regulatory efficiency. On the regulatory front, however, the agency saw a significant surge in local production, with locally manufactured regulated products increasing from 33% in 2024 to 62% in 2025. This indicates a growing domestic market even as the agency works to overcome exchange-rate fluctuations that led to a GH¢95 million revenue shortfall against its original projections. Collectively, these developments underscore a broader trend within Ghana’s state agencies toward self-sufficiency and digital modernization. While the GRA works to restore the stability of its digital payment channels to protect the national revenue stream, the FDA is focusing on retooling its infrastructure to sustain its regulatory successes. Both agencies have called for patience from stakeholders as they implement these critical technical and financial adjustments to improve service delivery and compliance in a rapidly evolving business environment.

GoldBod CEO Sammy Gyamfi Unveils Blockchain Traceability System Amidst Sector-Wide Financial and Labor Reforms
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GoldBod CEO Sammy Gyamfi Unveils Blockchain Traceability System Amidst Sector-Wide Financial and Labor Reforms

In a significant move to sanitize Ghana’s mining sector, the Ghana Gold Board (GoldBod) has announced the implementation of a blockchain-powered track-and-trace system by the end of 2026. CEO Sammy Gyamfi revealed at a recent press briefing that a national competitive tendering process is currently underway to establish this framework, which is designed to link every gram of gold purchased to a verified legal source. The initiative, sanctioned under Section 31 of the Gold Board Act, aims to eliminate illegal mining gold—commonly known as galamsey—from the national supply chain. By monitoring transactions through structured buying centers and tracing gold back to its mine of origin, the board intends to restore international confidence in Ghana’s mineral exports while funding a GH"35.1 million forest reclamation project to restore 150 hectares of degraded land by 2027. While GoldBod focuses on supply chain integrity, the government has granted a 12-month reprieve to Adamus Resources Limited to restructure its operations and settle massive financial obligations. A Ministerial Review Committee recently uncovered that the indigenous large-scale miner owes over GH"205 million to the state, including GH"86.78 million in unpaid royalties and GH"119.04 million in tax arrears. Despite the previous revocation of three mining leases due to regulatory breaches and production discrepancies exceeding US$33 million, the government opted for a turnaround roadmap to preserve the company. A six-member management team, comprised of representatives from both Adamus and the government, will oversee a plan to settle debts with the Ghana Revenue Authority (GRA) and the Minerals Income Investment Fund (MIIF) while seeking fresh capital infusion. Parallel to these corporate reforms, the Ghana Mineworkers’ Union (GMWU) has intensified pressure on the Bank of Ghana (BoG) to release over GH"380 million in locked-up funds. General Secretary Abdul-Moomin Gbana formally petitioned the central bank, noting that these assets—which belong to more than 19,000 current and former workers—have been trapped in distressed financial institutions since the financial sector cleanup. The funds represent critical provident fund contributions and severance packages that workers rely on for essential expenses. The union has warned that continued delays in accessing these savings could trigger industrial unrest, potentially disrupting the mining sector, which remains a cornerstone of the national economy. These developments reflect a broader push for transparency and stability within Ghana’s extractive industries. As GoldBod prepares its digital tracking infrastructure and Adamus Resources begins its rigorous debt-repayment schedule, the resolution of the mineworkers' grievances will be a crucial test for the Bank of Ghana. The successful execution of these measures is expected to not only enhance revenue collection for the state but also ensure that the benefits of Ghana’s mineral wealth are equitably distributed among legal operators, the government, and the thousands of workers who sustain the industry.

Dr John Abdulai Jinapor (5th from right), Minister of Energy and Green Transition; Emeafa Hardcastle (6th from right), Chief Executive Officer of Petroleum Commission, and other dignitaries after the unveiling of the Petroleum Commission @15 anniversary logo. Picture: EDNA SALVO KOTEY
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Government Unlocks $3.5bn Petroleum Investment and Accelerates Major Infrastructure Projects Under President Mahama

Ghana’s upstream petroleum sector is set for a massive revitalization following the resolution of long-standing disputes between the government and key oil partners, unlocking approximately $3.5 billion in fresh investment. Dr. John Abdulai Jinapor, the Minister of Energy and Green Transition, emphasized that these resolutions have significantly boosted investor confidence, allowing for a $2 billion commitment to the Jubilee and TEN fields to sustain production and a $1.5 billion investment in the Offshore Cape Three Points project. Emeafa Hardcastle, CEO of the Petroleum Commission, noted that these financial commitments are crucial for lowering gas prices and securing Ghana’s position as a top investment hub amid global market volatility. In tandem with energy sector gains, President John Mahama has intensified oversight of national infrastructure projects, specifically the Saglemi Housing Project and major road networks. During a recent inspection, LMI Group CEO Kojo Aduhene announced that Saglemi will be transformed into a modern residential community featuring dedicated water treatment, high-speed fibre-optic internet, and a proposed railway link to the Dawa Industrial Zone. The project aims to deliver 700 housing units by March 2027, with a total of 1,500 units expected by the end of that year. Additionally, the reconstruction of the Accra-Tema Motorway into a 10-lane dual carriageway is now 50% complete, while asphalt works have commenced on the 34-kilometre Sunyani Outer Ring Road under the government’s "Big Push" initiative. Despite these advancements, the administration is addressing significant operational challenges within the utility and digital sectors. Energy Minister Jinapor has directed the Public Utilities Regulatory Commission (PURC) to increase scrutiny of the Electricity Company of Ghana’s (ECG) commercial performance to ensure financial stability. This comes as the National Information Technology Agency (NITA) warns that persistent power outages and over 8,000 instances of fibre-optic vandalism are driving up the cost of internet and digital services, forcing operators to make costly investments in backup power systems. The Energy Commission is also urging the hospitality industry to adopt energy-efficient strategies to mitigate high operational costs. Moving forward, the government is focused on maintaining a stable fiscal regime and transparent regulations to sustain this momentum. While infrastructure and energy investments promise long-term economic growth, immediate concerns regarding the resilience of the national grid and the impact of illegal mining on water quality remain high on the public agenda. Stakeholders and industry experts continue to call for integrated solutions that protect both the environment and the country's economic security, ensuring that the benefits of large-scale industrial investments reach the average Ghanaian citizen through reliable services and affordable housing.

Ghana Advances Economic Recovery with $2.62bn FDI Surge and Milestone €163m Debt Restructuring Deal
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Ghana Advances Economic Recovery with $2.62bn FDI Surge and Milestone €163m Debt Restructuring Deal

Ghana’s economic landscape has shown significant signs of renewal, with the country attracting US$2.62 billion in Foreign Direct Investment (FDI) throughout 2025. This surge, detailed in the 2025 Annual Investment Report, marks a substantial increase from US$651.7 million in 2024 and coincides with a strategic €163 million debt restructuring agreement finalized with Belgium. Finance Minister Dr. Cassiel Ato Forson emphasized that the deal with Belgium’s export credit agency is a pivotal step in restoring economic confidence. By reducing debt servicing costs—which previously consumed over half of national revenue—the government intends to redirect fiscal resources toward critical public infrastructure, healthcare, and education. The FDI performance reflects a robust global interest in Ghana's manufacturing sector, which led with 99 projects, while mining services attracted the highest overall investment value. Beyond foreign capital, the report noted a significant rise in local participation, with US$816.05 million in wholly Ghanaian-owned investments helping to drive economic transformation. Dr. Ishmael Yamson, economist and Chairman of MTN Ghana, has commended the Mahama administration’s focus on building long-term resilience rather than relying on short-term fixes. Dr. Yamson highlighted the "Gold for Reserves" program and strategic agricultural investments as essential tools for stabilizing the economy, though he cautioned that the government must demonstrate this stability can last for at least a decade to secure serious, long-term international investors. Despite the current optimism, recent academic assessments underscore the structural vulnerabilities that Ghana must continue to address. Dr. Maxwell Opoku-Afari, former First Deputy Governor of the Bank of Ghana, argued in a recent study that Ghana’s high GDP growth between 2010 and 2019 often masked a decline in total factor productivity. His analysis suggests that previous IMF-World Bank debt sustainability assessments underestimated domestic risks, which contributed to the 2022 debt distress. To prevent a recurrence, Finance Minister Ato Forson has signaled plans to enshrine strict fiscal discipline measures into law, ensuring that future borrowing is strictly directed toward productive infrastructure rather than recurrent expenditure. Looking ahead, the government is implementing institutional reforms designed to reduce dependence on the central bank. Sammy Gyamfi, CEO of the Ghana Gold Board (GoldBod), recently announced a transition to a self-financing model under the GoldBod Act, empowering the institution to raise funds directly from financial markets for gold purchasing. With a projected FDI increase to US$2.80 billion in 2026 and a pipeline of projects worth over US$11 billion, the administration’s primary challenge remains converting these macroeconomic gains into sustained productivity growth to ensure this economic recovery has a lasting, diversified foundation.

CSA fines EY Ghana GH₵360,000 for providing cybersecurity services without licence
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CSA Fines EY Ghana Over Licensing as SHCL and Absa Bank Partner to Tackle Housing Deficit

Ghana's business landscape is witnessing a period of rigorous regulatory enforcement and strategic financial collaboration. The Cyber Security Authority (CSA) has imposed a GH‵360,000 fine on Ernst & Young (EY) Ghana for providing cybersecurity services without a valid Cybersecurity Service Provider (CSP) licence. Despite previous directives to comply with the Cybersecurity Act of 2020, EY Ghana continued its operations, leading to three separate penalties of GH‵120,000 each. The CSA has issued an immediate cease-and-desist order for all unlicensed services, emphasizing that compliance is mandatory to protect the nation's Critical Information Infrastructure and ensure the security of the digital ecosystem. In the financial and real estate sectors, the State Housing Company Limited (SHCL) and Absa Bank Ghana have signed a Memorandum of Understanding (MoU) to expand mortgage access. This partnership is a direct effort to address Ghana's staggering housing deficit of 1.8 million units. SHCL Managing Director John Bawah expressed optimism about the collaboration, noting that the current interest rate environment presents a strategic opportunity for prospective homeowners. By improving the availability of long-term financing, the partnership aims to make affordable housing more accessible while strengthening the overall stability of the housing industry. The consumer goods and retail sectors are also seeing significant activity, with Promasidor Ghana launching its new Onga Mix Tomato Paste. Tailored to local preferences for quality and texture, the product was unveiled in Accra with gospel musician Diana Hamilton named as the official brand ambassador. This launch aligns with broader retail trends, such as the upcoming Family Fun Day and Back-to-School Bonanza at Accra Mall from August 21 to 23, 2026. Marketing Manager Anthony Asamoah highlighted that such events are designed to meet modern shopper expectations by blending essential retail activities with family-friendly recreation. Finally, global lifestyle and wellness company QNET has revamped its leadership team to drive growth across Africa, appointing Mattias Mildenborn as CEO. The new leadership, including regional managers Cherif Sarr and Jared Thwaits, will focus on market development, education, and regulatory compliance. Together, these developments across cybersecurity, finance, and retail reflect a Ghanaian economy that is increasingly focused on formalization, strategic partnerships, and meeting the evolving needs of the modern consumer.