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.

Nike and Meta Face Severe Corporate Crisis as Sportswear Giant Loses Market Value and Tech Leader Battles $40 Billion Privacy Penalty
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Nike and Meta Face Severe Corporate Crisis as Sportswear Giant Loses Market Value and Tech Leader Battles $40 Billion Privacy Penalty

Global corporate giants Nike and Meta Platforms are currently grappling with distinct but severe crises that underscore the volatile nature of the modern business landscape. Nike, long the undisputed leader in sportswear, is attempting a high-stakes turnaround under new leadership as its market value and brand prestige erode. Meanwhile, Meta Platforms is staring down a staggering $40 billion legal demand in New Mexico, stemming from a jury’s finding that the social media titan misled the public about its data privacy practices following the Cambridge Analytica scandal. These developments highlight a period of intense scrutiny and transition for some of the world's most influential companies. Nike’s struggles have been marked by a significant loss in sales and a 75% drop in stock value over the last five years, leading to its removal from the prestigious S&P 100 index. Strategic missteps, including a pivot away from traditional retail partners in favor of direct-to-consumer digital sales, are blamed for stalling product innovation and alienating long-term customers. The departure of high-profile athletes, notably football star Kylian Mbappé to the rival brand On, has further fueled doubts about Nike's ability to maintain its cultural appeal. In response, the company has brought Elliott Hill out of retirement to spearhead a "Sport Offence" strategy, though internal forecasts suggest revenues will continue to decline in the coming year alongside planned job cuts. In the technology sector, Meta’s legal battle in New Mexico has reached a critical juncture. State attorneys are seeking penalties ranging from $35 billion to $40 billion, asserting that Meta committed over 43 million violations of consumer protection laws. While Meta’s legal team argues that the penalty should be capped at $3.45 billion—maintaining that the state has not proven actual consumer deception—the sheer scale of the requested fine represents a major threat to the company’s capital. A final ruling from Judge Francis Mathew is expected later this month, which could have far-reaching implications for how data privacy is litigated in the United States. As both Nike and Meta prepare for the future, the paths forward remain fraught with uncertainty. Analysts suggest that while Nike still commands a loyal global customer base, reclaiming its former market dominance will require a radical return to the innovative product design that first made it a disruptor. For Meta, the New Mexico verdict may serve as a bellwether for other states seeking to hold big tech companies accountable for historical data mishandling. For both entities, the coming months will be a test of their ability to adapt to shifting regulatory environments and evolving consumer expectations in an increasingly competitive global economy.

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Indomie Expands 'Slurp & Learn' School Feeding Initiative Nationwide with GES Approval

Indomie Ghana has officially opened registration for its 'Slurp & Learn' programme to basic schools across the country. The nationwide initiative, which has received formal approval from the Ghana Education Service (GES), seeks to integrate nutritious meal experiences with social interaction in the school environment. Headteachers of basic institutions are now invited to sign up for the scheme, which brings mobile kitchen teams directly to school premises to serve students freshly prepared noodles. To participate in the programme, school administrators must complete a registration process facilitated through a dedicated QR code system. Once registered, the Indomie outreach team coordinates specific visit dates to the schools. These visits are designed to go beyond mere food distribution; they are structured as interactive sessions that offer pupils a break from their standard classroom routines. By providing a communal dining experience, the programme aims to foster a sense of community among students and staff while ensuring children have access to warm, prepared meals during the school day. This initiative represents a significant corporate social responsibility (CSR) effort from the popular noodle brand, aligning with broader educational goals of improving student well-being and school attendance. The GES approval underscores the programme's compliance with safety and educational standards, making it a formal part of the extracurricular landscape for the current academic cycle. As the programme rolls out nationally, it is expected to reach thousands of pupils, providing both nutritional support and a lively engagement platform that encourages students to see the school environment as a space for both learning and positive social development.

Latex Foam and Studio 7 Honoured as Ghana’s Business Sector Shifts Focus to Customer Service and Employee Loyalty
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Latex Foam and Studio 7 Honoured as Ghana’s Business Sector Shifts Focus to Customer Service and Employee Loyalty

Ghana’s business landscape is witnessing a surge in institutional recognition, as major brands and healthcare providers set new benchmarks for excellence through customer service and employee appreciation. Highlighting this trend, the upcoming fifth edition of the National Customers’ Choice Awards (NCCA) is set to convene on November 14, 2026, at the Accra Marriott Hotel. Organized by KN Unique Communications, the awards will operate under the theme "Recognising Businesses through the lens of the Customer," aiming to spotlight organizations across banking, telecommunications, and healthcare that uphold the highest standards of professionalism and integrity in a competitive market. In tandem with these national standards, individual industry leaders are already being celebrated for their long-standing contributions to the domestic economy. Latex Foam was recently honored at the Old Schools Alumni Networking Gala Dinner in Accra, where its High Density Student Mattress was declared the "Legacy Foam Mattress Brand of the Year 2025." This recognition underscores the brand's dominance in the education sector and its commitment to quality within Ghana’s manufacturing industry. The gala, themed "Connecting legacies, building future opportunities," provided a platform to acknowledge how consistent product innovation and a focus on student comfort can foster brand loyalty across generations of Ghanaian alumni. Beyond external accolades, the culture of excellence is being reinforced internally through significant employee reward programs that highlight the importance of human capital. Studio 7 Clinic & Med Spa recently marked a decade of operations by prioritizing staff welfare as a core pillar of its business model. CEO Trudy Arnold presented Kia Morning vehicles to long-serving employees Delight Ohene and Hannah Addo, while Samuel Adjetey received a motorbike for his dedication. Arnold noted that the clinic’s decade of success is fundamentally tied to the loyalty of its team, emphasizing that recognizing individual contributions is essential for sustaining future potential. The celebration also included a poignant tribute to late staff members, reinforcing a corporate identity built on empathy and mutual respect. These developments reflect a maturing market where Ghanaian businesses increasingly understand that competitive advantage lies in both external customer satisfaction and internal human resource management. As the National Customers’ Choice Awards prepares to bring together local and international stakeholders later this year, the emphasis on "the lens of the customer" suggests a broader movement toward corporate accountability. For established manufacturing giants like Latex Foam and growing service enterprises like Studio 7, these milestones signify a transition from mere service delivery to the cultivation of lasting legacies that benefit the wider Ghanaian economic ecosystem.

Kwabena Boamah Takes Reins at Impact Investing Ghana as Republic Bank Expands Habitat Fair to Ho
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Kwabena Boamah Takes Reins at Impact Investing Ghana as Republic Bank Expands Habitat Fair to Ho

Impact Investing Ghana (IIGh) has ushered in a new era of leadership with the appointment of Kwabena Boamah as Board Chair, while Republic Bank prepares to bring its specialized mortgage solutions to the Volta Region through the inaugural Ho edition of the Habitat Fair. Boamah, a seasoned veteran in asset management, succeeds Alex Asiedu, who concluded a seven-year tenure marked by significant growth in domestic capital mobilization. Simultaneously, Republic Bank’s initiative aims to bridge the housing gap by offering tailored financing solutions that span the entire homeownership journey, from land acquisition to final construction. Kwabena Boamah brings over 25 years of experience to his new role at IIGh. Currently the Managing Director of Stanbic Investment Management Services Ltd, where he oversees more than USD 1.5 billion in assets, Boamah is well-positioned to deepen impact investing across Africa. His appointment is seen as a strategic move to mobilize domestic capital for sustainable development and inclusive economic growth. CEO Amma Lartey expressed confidence in the transition, noting the strong foundation laid by Asiedu in fostering research and strategic partnerships. Boamah, who holds a Doctorate in Finance and an MBA, emphasized his commitment to advancing sustainable economic transformation through the IIGh ecosystem. In the real estate sector, Dan Adjetey Mohenu, Head of Mortgage Banking at Republic Bank, announced that the Republic Bank-JoyNews Habitat Fair will be held at the Ho Sports Stadium from October 16 to 18, 2023. This expansion reflects a growing demand for homeownership solutions outside the capital. The fair will offer prospective homeowners direct access to mortgage experts and financing options that cover the entire building lifecycle. Mohenu highlighted that mortgage rates could be as competitive as 8.4%, depending on individual circumstances, making the dream of owning a home more accessible for residents in Ghana and those in the diaspora. These developments highlight a dual focus on institutional investment and individual wealth creation within the Ghanaian economy. While IIGh works to align large-scale capital with sustainable development goals, Republic Bank’s efforts in Ho focus on simplifying the often complex mortgage process for everyday citizens. Together, these initiatives signal a robust drive toward economic resilience and improved standards of living through both strategic investment leadership and practical housing finance solutions.

Global Fashion Leaders Launch Apparel Recovery Coalition at Accra's Kantamanto Market to Drive Circular Economy
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Global Fashion Leaders Launch Apparel Recovery Coalition at Accra's Kantamanto Market to Drive Circular Economy

Global fashion powerhouses H&M Group, Inditex, BESTSELLER, and adidas have joined forces to launch the Apparel Recovery Coalition (ARC) in Accra, Ghana. Unveiled at the historic Kantamanto Market, the initiative marks a significant step toward addressing the environmental and social challenges associated with the global secondhand clothing trade. In partnership with The Or Foundation and Circle Economy, the coalition aims to strengthen Ghana’s circular textile economy by improving the management, reuse, and recycling of post-consumer apparel in regions heavily impacted by textile waste. The launch took place at the heart of Kantamanto, a critical hub that recirculates approximately 25 million garments every month, providing livelihoods for thousands while managing vast quantities of imported used clothing. Reverend Opoku Afreh, President of the Kantamanto Obroniwawu Businesses Association (KOBA), welcomed the move but emphasized the urgent need for investment in infrastructure and resources to support local practices. Over the next two years, the ARC plans to develop a producer responsibility framework, leveraging the existing knowledge of the Kantamanto community to create practical solutions for textile waste management and community empowerment. This push for environmental accountability in the fashion sector aligns with a broader call for sustainability within Ghana’s wider business landscape. Speaking at the Hamburg Sustainability Conference, Yaw Adu Gyamfi, Chairperson of the Ghana Hubs Network, underscored that sustainability must be a foundational element for all innovations and startups. He argued that eco-friendly solutions should be integrated into business objectives from the outset rather than being treated as an afterthought. Gyamfi highlighted that while some Ghanaian startups are already pioneering sustainable agriculture and resource management, the entire ecosystem must align more closely with the UN Sustainable Development Goals (SDGs) as the 2030 deadline nears. The establishment of the ARC represents a shift toward "producer responsibility," where global brands acknowledge their role in the lifecycle of their products even after they enter the secondhand market. By combining the corporate resources of international fashion leaders with the grassroots expertise of Ghanaian market associations and innovation hubs, the initiative seeks to transform a waste crisis into a circular economic opportunity. As the coalition rolls out demonstration projects and training in the coming months, the focus will remain on whether these global partnerships can deliver tangible improvements to the environmental conditions and economic resilience of Ghana’s local communities.

Ghana’s Economic Push: GoldBod Generates $1.87B in Foreign Exchange as Government Targets Manufacturing Growth and Tax Reform
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Ghana’s Economic Push: GoldBod Generates $1.87B in Foreign Exchange as Government Targets Manufacturing Growth and Tax Reform

Ghana’s economic landscape is experiencing a significant surge in revenue and fiscal realignments, led by the Ghana Gold Board (GoldBod) surpassing its foreign exchange generation targets. In September 2026, GoldBod amassed $1.871 billion from artisanal and small-scale mining operations, exceeding its monthly goal of $1.4 billion by $471 million. This 134% performance resulted in the allocation of $1.170 billion to the Bank of Ghana to bolster national reserves, while $701.3 million was sold to commercial banks. Looking ahead to October, GoldBod has set a target of $1.5 billion and plans to implement a new Spot FX Sales/Intermediation Framework, marking a transition where GoldBod assumes full intermediation responsibility as the Bank of Ghana exits this role. On the industrial front, President John Mahama’s administration has moved to stimulate the agro-processing sector by removing the 20% excise duty on locally manufactured fruit juices, effective October 1, 2026. The Food and Beverages Association of Ghana (FABAG) welcomed the move, which reverses a duty imposed in 2023 that had hampered the competitiveness of local producers against imports. This policy shift is intended to lower production costs, encourage agricultural linkages, and create jobs. In a similar vein of fiscal accountability, Finance Minister Dr. Cassiel Ato Forson has demanded higher returns from the National Lottery Authority (NLA) following its presentation of a GH¢10 million dividend—the first such payment since 2017. Dr. Forson indicated that the Ministry is working with the Attorney-General to review restrictive agreements that have historically capped government revenue from the NLA. Parallel to these developments, experts are calling for a fundamental shift in Ghana’s tax strategy to meet the medium-term goal of an 18-20% tax-to-GDP ratio by 2027. Professor Abdallah Ali-Nakyea, speaking at a Transparency International Ghana event, noted that while Ghana’s ratio has improved to 15%, it still lags behind the African average of 16.1% and significantly trails countries like Tunisia at 34%. He argued that reaching these targets requires enforcing voluntary tax compliance and utilizing technology-driven reforms rather than imposing new levies, which often deter small and medium-sized enterprises (SMEs). Collectively, these actions represent a multi-pronged approach to stabilizing the Cedi and expanding the domestic economy. While the GoldBod's performance provides immediate relief to foreign exchange reserves, the long-term health of the economy will depend on the successful execution of the new excise exemptions and the NLA's structural reforms. As the government moves toward the final quarter of 2026, the focus remains on balancing relief for local manufacturers with the need for more efficient and transparent revenue mobilization across all state institutions.

Some guests at the UK-Ghana Trade & Investment Summit 2026
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Ghana’s Trade Surplus Plummets 70% as Rising Import Costs and Cedi Depreciation Strain Economy

Ghana’s trade balance has faced a significant contraction in the second quarter of 2026, with the trade surplus shrinking by approximately 70% to reach US$1.3 billion, down from US$4.3 billion in the previous period. This decline is primarily attributed to a massive 47.5% surge in imports, which totaled GH₵94.7 billion (approx. US$8.3 billion), driven largely by a 22.7% increase in import prices for essential commodities like fuel. Simultaneously, total exports saw a slight dip of 1.6%, highlighting the nation's continued vulnerability to global market fluctuations and its heavy reliance on a narrow range of export commodities. The economic pressure is further compounded by the depreciation of the Ghanaian Cedi, which as of early October 2026, was trading at approximately GHS 12.25 at forex bureaus and GHS 11.72 on the Bank of Ghana interbank market. Gold remains the cornerstone of Ghana's export economy, accounting for 72.3% of total exports and generating GH₵78.4 billion in revenue. However, the sector faces headwinds as global gold prices have experienced a downward trend, marking a second consecutive weekly loss to settle around $4,154.78 per ounce. This decline is influenced by a strengthened US dollar and rising Treasury yields, which have dampened the appeal of the precious metal. Furthermore, despite the high volume of trade within the West African sub-region, Ghana recorded a trade deficit of approximately US$250 million with its neighbors, signaling a need for more competitive manufacturing and value-addition strategies to balance regional commerce. In response to these challenges, the government and the financial sector are intensifying efforts to diversify trade and improve regional connectivity. Deputy Minister for Foreign Affairs James Gyakye Quayson has urged Ghanaian entrepreneurs to aggressively tap into the ECOWAS market of over 300 million people. Speaking at the launch of the "ECOWAS for All" campaign, Quayson emphasized the vast potential in exporting processed agricultural products, textiles, and digital services, noting that many businesses remain unaware of the protocols facilitating free movement and trade within the bloc. This sentiment was echoed by GCB Bank at the UK-Ghana Trade & Investment Summit 2026, where the bank’s Executive Head of Corporate Banking, Linus Kumi, identified access to working capital and payment efficiency as critical barriers that must be overcome to unlock broader African growth. The domestic economic situation is unfolding against a volatile global backdrop. International oil prices have trended higher, with Brent crude rising to $102.60 per barrel following China’s decision to halt fuel exports and increased military tensions in the Middle East. These global supply concerns threaten to further inflate Ghana's import bill. Meanwhile, at the G20 trade summit in Milwaukee, ministers remain deadlocked over industrial overcapacity and supply chain ethics, highlighting a fragmented global trade environment. For Ghana, these developments underscore the urgency of shifting away from primary commodity exports toward a more diversified, trade-resilient economy that can better withstand external shocks and currency volatility.

Nathaniel Kwabena Adisi, a member of the Ignite Global Advisory Board, addressing the media during an Ignite webinar engagement
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Ignite Social Enterprise to Open Ghana Office and Partner with Local Manufacturers to Boost Global Exports

Ignite Social Enterprise Limited has announced plans to establish a physical office and a dedicated hotline in Ghana, marking a significant step in the company’s expansion within the West African market. Speaking during a webinar on September 30, 2026, Nathan Kwabena Adisi, a member of the Ignite Global Advisory Board popularly known as Bola Ray, revealed that the Hong Kong-headquartered product distribution firm is in active discussions with local security agencies, including the Criminal Investigation Department (CID) and the National Investigation Bureau (NIB). This collaboration aims to ensure a secure operating environment and protect the brand's integrity as the company scales its operations following its launch in April 2026. Addressing public concerns regarding the company's business model, Mr. Adisi emphasized that Ignite Social Enterprise is not an investment company and does not accept deposits. He cautioned the public against individuals who might attempt to misuse the Ignite brand for fraudulent activities. The company, which has seen rapid growth by reaching over 700,000 brand affiliates and hosting more than 7,000 brands within its first five months of operation, positions itself as a social enterprise focused on supporting micro-entrepreneurs through a robust e-commerce and distribution network. A key component of Ignite’s local strategy is a new partnership with a Ghanaian watch manufacturer designed to boost the global visibility of local craftsmanship. By featuring authentic "Made-in-Ghana" timepieces on its international e-commerce platform, Ignite aims to enhance the competitiveness of Ghanaian brands. Currently, the company’s lifestyle offerings include the SENA Warison Collection, which blends modern design with quality craftsmanship. This initiative is part of a broader strategy to create global visibility for locally produced goods and support the national manufacturing agenda. Beyond lifestyle products, Ignite is leveraging technology to address needs in underserved communities across the Global South. The company’s portfolio includes Brainify, an AI-powered learning platform that recently received KHDA certification in Dubai, and Sanarey, a health line featuring an AI-driven oral care solution called Brusho. As Ignite prepares to open its Accra office, the leadership remains committed to providing digital skills and innovative health solutions, further cementing its vision for sustainable entrepreneurship and economic empowerment across Africa.

Oseadeayo Dr Frimpong Manso (arrowed) with officials of the company and other sub chiefs
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Duraplast Announces Reopening After Accra Fire as Mining Firms Newmont and Zijin Strengthen Youth Employment Commitments

Duraplast Limited has announced it will resume operations on October 5, 2025, following a fire that broke out at its North Industrial Area production plant in Accra on October 1. The company confirmed that the blaze has been fully contained with no ongoing threat to its broader operations. While official assessments of the damage are still underway, reports from Citi Newsroom indicate the fire was suspected to have been triggered by an exploding gas cylinder. Management expressed profound gratitude to the Ghana National Fire Service (GNFS), the Accra Metropolitan Assembly, and neighboring businesses for their rapid response, which prevented further escalation. Although the facility experienced a temporary shutdown, Duraplast emphasized its resilience, assuring customers that its head office and other operational sites remain open for business. In the mining sector, Newmont has marked a major milestone in its community development strategy by graduating 30 more young people from its Ahafo Learnership Programme. This latest cohort brings the total number of graduates to 99 since the program was launched in 2023. The initiative provides technical training in critical areas such as Haul Truck operations, Drill and Blast, and Process Plant operations. With an impressive 96% employment rate among recent graduates, many of whom have secured positions directly with Newmont or its contractors, the programme continues to serve as a vital pipeline for local talent. This achievement comes as Newmont celebrates its 20th year of operations in Ghana, reinforcing its commitment to sustainable development and the empowerment of its ten host communities. At the same time, traditional leadership is pushing for even deeper corporate accountability in the extractive industry. The Omanhene of the Akyem Kotoku Traditional Area, Oseadeeyo Dr. Frimpong Manso IV, recently met with the management of Zijin Mining Company to urge the implementation of more sustainable employment structures for local youth. Beyond job creation, the Omanhene called for the establishment of hospitals and universities within mining districts, alongside rigorous land reclamation and responsible environmental practices. In response, Zijin Senior Manager Derek Boateng outlined the company’s long-term commitment to the Birim North District, noting that the company has secured EPA approval to increase production capacity with plans to operate in the region until 2042. The company also pledged financial support for the construction of the traditional royal palace. These collective developments reflect a dynamic period for Ghana’s industrial and mining landscapes, where recovery from operational setbacks and long-term community investment are at the forefront of the corporate agenda. While Duraplast focuses on rebuilding its production capacity in the capital, the focus on technical training and infrastructure in the Ahafo and Akyem Kotoku regions highlights an evolving relationship between multinational corporations and their host communities. As the private sector navigates these challenges, the emphasis remains on ensuring that industrial growth is accompanied by tangible social benefits and environmental responsibility.

Feed Ghana Programme Links 70,000 Farmers to Regional Markets as TCDA Sets Up Northern Model Farm
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Feed Ghana Programme Links 70,000 Farmers to Regional Markets as TCDA Sets Up Northern Model Farm

The Feed Ghana Programme (FGP), a cornerstone of President John Mahama’s administration launched in April 2025, has recorded significant success in reducing the nation’s dependence on food imports. According to recent reports, the programme has successfully boosted the production of key staples including maize, rice, and tomatoes, as well as poultry. Notably, maize production has already surpassed national consumption levels, marking a major milestone toward domestic food self-sufficiency. To build on this momentum, the Ministry of Food and Agriculture (MoFA) has announced plans to link approximately 70,000 farmers participating in the FGP to agribusinesses and agri-solution providers across the West African sub-region, fostering a more integrated and resilient regional market. During the 2nd West Africa Agri Show, Bright Kwadzo Demordzi, the National Coordinator of the Feed Ghana Programme, emphasized that these regional links are vital for ensuring sustainable processing and distribution. While the programme has received substantial government funding and shows clear progress, challenges remain, particularly for tomato farmers seeking better market access. To address these hurdles, upcoming phases of the FGP are expected to focus on improving storage and transportation infrastructure, ensuring that increased production translates into long-term economic stability and reduced post-harvest losses. Parallel to these national efforts, the Tree Crops Development Authority (TCDA) is intensifying its operations in northern Ghana to diversify the agricultural economy. TCDA CEO Dr. Andy Osei Okrah has announced the adoption of the MATCO Mango Plantation in the Upper West Region as a strategic model prototype for commercial farming. This initiative aims to empower women and youth by leveraging the region’s potential for mango, cashew, and shea production. To protect these economic assets, the TCDA has issued a stern warning against the illegal felling of shea trees and is establishing a dedicated office in Wa to oversee regional agricultural transformation and provide technical support to plantation owners. The shift toward a more robust agricultural sector is also being supported by private sector leadership and entrepreneurial innovation. Professionals like Catherine Krobo Edusei, who returned to Ghana after a decade-long banking career in London, illustrate the growing opportunities in the local food market. By identifying a gap in the supply of fresh herbs and high-quality produce, Edusei transitioned from corporate finance to agribusiness, successfully reducing consumer reliance on imported alternatives. Her journey reflects a broader trend of skilled professionals investing in Ghana’s agricultural value chain, complementing government-led initiatives to secure the nation’s food future and drive sustainable economic growth.

Advans Ghana launches GH¢20m loan scheme for women entrepreneurs
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Attijariwafa Bank Enters Ghana as Societe Generale Exits; Bank of Ghana Holds Policy Rate at 14%

Significant structural shifts are reshaping Ghana’s financial landscape as the Bank of Ghana (BoG) maintains its monetary stance while major international players reshuffle their positions. In a unanimous decision, all seven members of the Monetary Policy Committee (MPC) voted to keep the policy rate at 14%, citing a cautious approach to external economic risks and persistent inflationary pressures. While the committee noted a 6.0% GDP growth in the second quarter of 2026 and a rise in the Composite Index of Economic Activity, concerns remain over weather-related disruptions and rising food and fuel prices that could threaten the medium-term inflation target of 8% +/- 2%. Simultaneously, a landmark transaction is underway in the banking sector as the Moroccan financial giant, Attijariwafa Bank, prepares to acquire a majority stake in Societe Generale Ghana. The agreement involves Societe Generale Group divesting its entire 60.22% stake, with Attijariwafa acquiring 55.22% and the Social Security and National Insurance Trust (SSNIT) increasing its holding by 5%. This move raises SSNIT's total ownership to 24.36%, strengthening the investment position for Ghanaian workers. Financial analysts have urged customers to remain calm, noting that the transition—pending regulatory approval—is likely to improve technology and service delivery across the bank's 40-branch network. Beyond high-level mergers and monetary policy, the sector is seeing a renewed focus on inclusivity and digital security. Advans Ghana Savings and Loans has launched "Mmaa Mpuntuo," a GH"20 million loan scheme supported by Development Bank Ghana, specifically designed to provide women entrepreneurs with working capital and mentoring. On the regulatory and compliance front, Ahantaman Community Bank PLC has achieved ISO/IEC 27001:2022 certification. This milestone ensures compliance with the BoG’s Cyber and Information Security Directive (CISD) 2026, signaling a growing commitment among local financial institutions to robust cybersecurity during digital transformation. These developments reflect a dynamic period for Ghana's business sector, balancing international investment with local empowerment. While the central bank manages its internal capacity—noting that 50 to 60 staff members retire annually—the broader industry is demonstrating resilience through both competitive corporate spirit and strategic growth. The entry of Moroccan capital alongside targeted financing for SMEs and heightened security standards points toward a multifaceted effort to stabilize and modernize the Ghanaian economy amidst global uncertainties.

Ghana Revenue Authority Secures $393 Million Tax Victory Against Tullow as Importers Probe Missing Tema Port Containers
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Ghana Revenue Authority Secures $393 Million Tax Victory Against Tullow as Importers Probe Missing Tema Port Containers

The Ghana Revenue Authority (GRA) has achieved a significant legal milestone after an International Chamber of Commerce (ICC) arbitral tribunal upheld a tax assessment of over $393 million against Tullow Ghana Limited. The ruling dismisses Tullow’s challenges regarding tax assessments on business interruption insurance proceeds, affirming that the GRA’s demands were lawful and adhered to Ghana’s tax regulations. While the tribunal found the $393,091,993.70 assessment to be reasonable and not time-barred, it did determine that specific penalties associated with the assessment were not applicable under the existing Petroleum Agreements. Tullow Ghana has expressed disappointment with the outcome but remains in discussions with the Ghanaian government to resolve outstanding matters while continuing its operations in the Jubilee and TEN fields. In a separate and developing regulatory crisis, the GRA is under pressure from the trading community following the reported unauthorized removal of 28 containers from the Tema Port. Importers have filed a formal petition detailing that the containers—which were in various stages of the clearance process—were discovered to be empty, moved, or missing without the owners' consent. The breach was uncovered when goods from one of the containers were found being unloaded into a nearby warehouse, prompting an initial complaint to the Tema Regional Police. Law enforcement has already made several arrests related to the incident, and affected importers have provided the GRA with a detailed list of bill of lading numbers to assist in a comprehensive investigation into the suspected container diversion. Beyond domestic enforcement and port security, Ghana is also expanding its international economic footprint through new partnerships in the extractive sector. Sammy Gyamfi, CEO of the Ghana Gold Board, recently held high-level talks with a delegation from the Kyrgyz Republic, led by Foreign Affairs Minister Jeenbek Kulubayev. The discussions focused on a proposed formal framework agreement to enhance technical and investment cooperation between the two nations. A primary goal of this collaboration is to formalize gold trading sectors, share best practices for local refining, and develop more robust strategies to curb the illegal smuggling of precious minerals. These collective developments highlight a period of intensive activity for Ghana’s economic regulators as they balance revenue collection, port integrity, and international trade expansion. The GRA has reiterated its commitment to fair tax administration, emphasizing that all taxpayers—regardless of size—must adhere to national laws to ensure a stable business environment. As the authority moves to implement the Tullow award in collaboration with the government, the focus remains on securing national revenue while fostering the necessary transparency and security required to maintain Ghana's status as a leading destination for international investment.