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.

Ghana Fuel Prices Set to Rise in September as Government Extends Diesel Relief and Energy Sector Profits Climb
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Ghana Fuel Prices Set to Rise in September as Government Extends Diesel Relief and Energy Sector Profits Climb

Petroleum consumers in Ghana face a mixed outlook as the Chamber of Oil Marketing Companies (COMAC) and the Chamber of Petroleum Consumers (COPEC) project a rise in pump prices starting September 1, 2026. While petrol is expected to see increases of up to 5% and diesel roughly 2.5%, the government has moved to extend a crucial GH¢2 per litre reduction in the regulatory margin on diesel. This intervention, which was initially introduced in August, aims to prevent diesel prices from spiraling toward GH¢20 per litre. Currently, diesel prices hover around GH¢17 per litre, and the extension into the September pricing window is intended to provide a necessary cushion for motorists and businesses amidst global market volatility. According to market projections, petrol prices are expected to reach between GH¢16.21 and GH¢16.39 per litre, while diesel is projected to settle around GH¢17.60 per litre. These adjustments come despite a recent strengthening of the Ghana cedi, which appreciated by 3.64% to approximately GH¢11.37 per US dollar. The price hikes are primarily driven by fluctuations in international crude oil prices—which recently reached US$92.11 per barrel—and adjustments in Free-On-Board (FOB) prices for refined products. In response to these trends, the Ghana Private Road Transport Union (GPRTU) has warned of potential fare increases, noting that transport operators are struggling with the cumulative burden of fuel costs alongside rising prices for spare parts, lubricants, and insurance. Amidst these consumer pressures, the broader energy sector has reported notable financial and operational milestones. GOIL PLC, under the leadership of Group CEO Edward Abambire Bawa, reported a 7.05% increase in net profit for 2025, reaching GH¢90.67 million, even as operating revenue declined by nearly 9%. Similarly, the National Petroleum Authority (NPA) saw its 2025 surplus surge by 76% to GH¢447.19 million, driven by strong internally generated funds and a massive jump in finance income. On the production front, the Tema Oil Refinery (TOR) has successfully processed over 2.4 million barrels of crude oil since its December 2025 operational restart, contributing to the local supply of high-grade petroleum products. As the first pricing window of September unfolds, the National Petroleum Authority has adjusted price floors to reflect current market realities, setting minimum levels for petrol and diesel at GH¢14.53 and GH¢15.60, respectively. While the government’s extension of the diesel relief provides temporary stability, the transport sector remains on high alert for further fluctuations. Industry observers and consumers alike will be watching closely to see if the combination of increased local refining capacity at TOR and strategic regulatory interventions can sufficiently offset the persistent headwinds from a volatile global energy landscape.

State-owned Enterprises (SOEs) increased revenue in 2025 by 28.1 per cent to GH¢176.4 billion
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Ghana’s State-Owned Enterprises Return to GH¢19.8 Billion Profit in 2025 Ending Four-Year Losing Streak

Ghana’s State-Owned Enterprises (SOEs) have achieved a landmark financial turnaround, recording a consolidated net profit of GH¢19.80 billion for the 2025 financial year. This performance, detailed in the State Interests and Governance Authority’s (SIGA) 2025 State Ownership Report, marks the end of a four-year cycle of net losses, including a GH¢2.25 billion deficit recorded in 2024. Total revenue across the 162 evaluated entities surged by 28.12%, rising from GH¢137.64 billion to GH¢176.43 billion. This recovery coincides with the first year of President John Dramani Mahama’s current term, supported by a stabilizing macroeconomic environment and a real GDP growth rate of 6 percent. The recovery was largely driven by explosive growth in non-energy sectors. The agriculture subsector saw revenue surge by 203.71%, while manufacturing and infrastructure grew by 114.74% and 92.24%, respectively. Joint Venture Companies (JVCs) also posted strong results, with net profits increasing by 36.55%. Beyond financial metrics, the SOE sector expanded its workforce by 5.5%, reaching 98,724 employees, with women's representation rising to 30.02%. SIGA attributed these gains to improved procurement oversight and reduced finance costs, alongside a general rebound in global and local economic conditions that favored state-led industries. However, policy analysts and SIGA officials have cautioned that the GH¢19.80 billion figure requires nuanced interpretation. A substantial portion of the profit—approximately GH¢11.72 billion—stemmed from net foreign exchange gains following currency stabilization rather than fundamental operational efficiency. Furthermore, despite the high "paper profits," cash dividends remitted to the state plummeted by 29.4% to just GH¢16.00 million. This highlights a significant gap between accounting figures and actual cash flow available to the national treasury. Persistent challenges also remain for specific entities; while many SOEs returned to the black, five entities have incurred losses every year since 2021, and the Electricity Company of Ghana (ECG) continues to struggle with high liabilities and negative equity. Looking ahead, the government is focusing on converting this recovery into sustainable long-term value. SIGA has recommended the liquidation of the Ghana Railway Company due to its ongoing operational struggles and emphasized that future growth must be rooted in structural governance reforms rather than favorable macroeconomic swings. Presidential Spokesman and Minister of State Felix Kwakye Ofosu indicated that the administration will prioritize accountability and improved capital management to mitigate fiscal risks. As the sector moves forward, the emphasis will shift toward maintaining these gains through enhanced transparency and better performance monitoring to ensure state entities contribute meaningfully to the national economy.

Tourism not only concerts — Oswald Okaitei
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UMB Pioneers Virtual Account Approvals as Ghana’s Economic Sectors Pivot Toward Innovation and Digital Growth

Ghana’s financial landscape is witnessing a significant shift toward digital modernization, led by Universal Merchant Bank (UMB), which has become the first institution in the country to receive joint approval from the Bank of Ghana and the Securities and Exchange Commission to offer virtual accounts. This landmark move is designed to provide regulatory clarity for businesses within the virtual asset and fintech ecosystems. Dr. Philip Oti-Mensah, UMB’s Managing Director, emphasized that the initiative aligns with the bank's strategy to innovate responsibly following a successful recapitalization. Regulators, including the SEC’s Mensah Thompson, noted that such collaborations are essential for fostering innovation while maintaining a secure, regulated environment for digital transformation. Complementing this digital push, credit unions across the country are being urged to embrace smart technologies to deepen member value and ensure long-term sustainability. At the 24th Annual General Meeting of the Controller and Accountant General’s Employees Cooperative Credit Union (CAGECCU), Associate Professor Samuel Simpson from the University of Ghana Business School highlighted the necessity of technology in attracting younger demographics and enhancing financial inclusion. Despite facing liquidity challenges and locked investments, CAGECCU reported significant growth in membership and assets, underscoring the resilience of the credit union model when paired with effective member engagement and modern service delivery. While the financial sector modernizes, the energy sector faces upcoming price adjustments that could impact the cost of living. The Chamber of Petroleum Consumers (COPEC) has projected marginal increases in fuel prices for September 2026, with petrol expected to rise by 5% to GH¢16.21 per litre. Diesel and LPG prices are also anticipated to climb to GH¢17.61 per litre and GH¢14.19 per kilogramme, respectively. Although the Ghana cedi has shown some appreciation and global crude prices have dipped slightly, a surge in the international FOB price for petrol is driving these domestic projections. COPEC continues to advocate for government subsidies to shield consumers from the full weight of these rising costs. Beyond finance and energy, industry experts are calling for a more diversified approach to Ghana’s broader economic strategy, particularly in tourism and consumer services. Spoken word advocate Oswald Okaitei argues that Ghana must move beyond concerts and nightlife to tap into the economic potential of medical, educational, and cultural tourism, citing Cuba’s success as a template. Simultaneously, as international travel remains a key economic driver, passengers are being cautioned about their rights in the aviation sector. Under EU Regulation 261/2004, travelers on codeshare flights from Ghana must identify the actual operating carrier to successfully claim compensation for delays, ensuring that Ghanaian consumers are protected within the global travel market.

Elizabeth Ofosu-Adjare, Minister of Trade, Agribusiness and Industry speaking during the field inspection
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Minister Elizabeth Ofosu-Adjare Launches Northern Cotton Revival Initiative to Feed Ghana's Textile Industry

The Minister of Trade, Elizabeth Ofosu-Adjare, has announced a strategic government intervention to revitalize large-scale cotton production in the Northern Region. This move, centered in the Savelugu area, is designed to provide a reliable stream of raw materials for Ghana’s textile and garment industry, marking a significant step toward industrial self-sufficiency. By focusing on a robust connection between agricultural output and industrial manufacturing, the government aims to reduce the country’s heavy reliance on imported fabrics and strengthen the local value chain. The project, officially titled the Northern Cotton Revival Initiative, is a collaborative effort between the government and private sector partners, including Benti Energies, Recell Ghana Ltd., and SELOC. During a visit to a 20-hectare pilot cotton farm, Minister Ofosu-Adjare emphasized the goal of establishing a multi-district cotton production zone. This initiative is expected to serve as a hub for local sourcing, ensuring that textile manufacturers no longer have to look beyond Ghana's borders for high-quality lint, while simultaneously creating numerous jobs for the youth in the northern sector. Local leadership has reacted positively to the development, viewing it as a catalyst for rural economic transformation. The Traditional Chief of Zoosale officially welcomed the initiative during a symbolic launch ceremony, highlighting the potential for the region to regain its status as an agricultural powerhouse. However, the Chief also urged the government to provide sustained technical and financial support to ensure the project’s longevity, noting that past attempts at cotton revival often faced challenges due to inconsistent backing. As the Northern Cotton Revival Initiative gains momentum, the government expects the project to play a pivotal role in the broader national strategy to promote 'Made in Ghana' products. By securing the raw material base for the textile sector, the initiative seeks to stabilize costs for local garment producers and improve Ghana’s competitiveness on the international market. Moving forward, the success of this multi-district zone will be closely monitored as a blueprint for similar agricultural-industrial linkages across the country.

Togbe Anikpi III (2nd from left), Dufia of Ho-Heve, being assisted by Stephanie Oforiwah Asare (left),the Corporate Social Responsibility Coordinator of OneAfrica Markets, and Dr Doh to cut the tape to commission the borehole
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Dr Robert Kofi Doh Empowers 34 Ho Artisans with GH¢ 100,000 in Equipment and Business Support

In a significant boost to local economic development, the Dr Doh Tradesmen Empowerment Programme has distributed working tools and financial support valued at GH¢ 100,000 to 34 artisans within the Ho municipality. This initiative, spearheaded by Dr Robert Kofi Doh in collaboration with OneAfrica Markets, is designed to foster sustainable business growth and self-reliance among skilled workers in the Volta Regional capital. By providing essential equipment to local tradespeople, the program aims to strengthen the foundational economy of the municipality and create a ripple effect of job creation through increased capacity. The support package included a diverse range of industrial tools tailored to various trades, such as sewing machines for tailors and hair dryers for beauticians. Beyond the physical equipment, several beneficiaries also received direct cash support to assist in the expansion of their business operations. Dr Doh emphasized that the core philosophy of the empowerment program is to enable individuals to not only improve their own livelihoods but also to create opportunities for others within their communities. This integration of cash grants with technical tools represents a holistic approach to tackling the challenges of small-scale business scaling in the region. The empowerment drive extended beyond individual business support to address critical infrastructure needs in the community. As part of the initiative, a 5,000-litre borehole was officially handed over to the residents of Ho-Heve. This project is expected to significantly improve the quality of life for local inhabitants by providing reliable access to clean water. Community leaders noted that the proximity of the water source would particularly benefit local children, who will no longer have to spend long hours trekking for water, thereby allowing more time for their educational pursuits and studies. This dual approach of vocational empowerment and infrastructure development underscores a growing trend of private-sector-led social intervention in Ghana. By equipping 34 artisans with the means to professionalize their services, the Dr Doh Tradesmen Empowerment Programme is contributing to the broader goal of reducing unemployment through skilled labor. As these businesses grow and the Ho-Heve community benefits from improved health and time savings via the new borehole, the project serves as a model for how targeted local philanthropy can address both economic and social barriers to development simultaneously.

Tumu Road Upgrades Spark Transportation Boom and Halve Travel Times to Bolgatanga
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Tumu Road Upgrades Spark Transportation Boom and Halve Travel Times to Bolgatanga

The ongoing rehabilitation and improvement of critical road networks in the Sissala area, specifically the Tumu–Bolgatanga and Tumu–Tamale routes, are fundamentally transforming the local transportation landscape. These infrastructure upgrades have paved the way for more diverse and efficient travel options, significantly reducing the arduous journey times that previously hindered movement between these major northern hubs. A primary example of this progress is the Tumu to Bolgatanga route, where travel time has been slashed from five hours to approximately two or three hours, marking a major milestone in regional connectivity. At the center of this transition is the introduction of a new fleet of vehicles, including the popular Voxy brand, which offers passengers a level of comfort and speed previously unavailable on these stretches. Mr. Mikailu Mohamud, Chairman of the Tumu Lorry Station, noted that these newer, more luxurious vehicles provide essential protection from the heavy dust that often characterizes unpaved northern roads. This shift represents a growing preference among residents for modern transportation standards, which has encouraged vehicle operators to invest in better equipment to meet the rising demand for premium travel services. Drivers and transport operators have also experienced a positive shift in their business models due to the improved road conditions. Smoother surfaces allow for more frequent trips and less mechanical wear and tear on vehicles, leading to increased revenue and more stable business operations. However, the transition has brought some new challenges; some commuters have expressed concerns regarding high luggage charges associated with the faster vehicles, while certain drivers have flagged lingering security concerns along the improved routes. Despite these minor grievances, the broader implications for the Sissala area are overwhelmingly positive, as enhanced transportation is a known catalyst for economic development. By facilitating the easier movement of people and goods, these road improvements are expected to stimulate local trade, improve access to essential services, and foster community growth. As infrastructure projects continue to advance, the local transport sector stands poised to play a central role in the region's burgeoning economic activity, providing a blueprint for how targeted investment can revitalize commerce in Ghana's northern belt.

SIGA 2025 State Ownership Report: Ghanaian State-Owned Enterprises Record GH¢19.8 Billion Net Profit in Historic Financial Turnaround
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SIGA 2025 State Ownership Report: Ghanaian State-Owned Enterprises Record GH¢19.8 Billion Net Profit in Historic Financial Turnaround

The State Interests and Governance Authority (SIGA) has officially released the 2025 State Ownership Report (SOR), detailing a landmark financial and operational recovery for Ghana's state-owned sector. Marking the 10th edition of the report and the fifth since SIGA's establishment in 2019, the document reveals a decisive shift toward consolidated profitability after several years of persistent fiscal losses. This turnaround signifies a potential milestone for the national economy under the current administration of President John Mahama, as the state-owned sector begins to provide more robust support to the country's financial stability. According to the 2025 report, which covers 162 out of the 175 approved Specified Entities, the sector experienced a substantial revenue surge of 28.12%. Total revenue climbed from GH¢137.64 billion in 2024 to GH¢176.43 billion in 2025. This growth translated into significant bottom-line improvements, with the sector reporting a profit before tax of GH¢25.49 billion and an impressive consolidated net profit after tax of GH¢19.80 billion. These figures suggest that the governance reforms and oversight mechanisms implemented by SIGA are beginning to yield tangible fiscal dividends. Key drivers of this economic recovery were concentrated in the agriculture, manufacturing, and infrastructure sectors. These industries proved to be the primary engines of growth, compensating for historical underperformance in other areas. However, the report also maintains a level of caution, noting that the recovery is not yet universal across all state institutions. While many entities saw a turnaround, certain State-Owned Enterprises (SOEs) continued to report operational losses, and significant liabilities remain a concern within various Other State Entities (OSEs). Moving forward, the 2025 State Ownership Report emphasizes that sustaining these gains will require a renewed commitment to transparency, efficient capital allocation, and stricter accountability. As Ghana navigates the remainder of the 2025 fiscal year, the performance of these entities will be critical to the broader economic agenda. Industry analysts and SIGA officials agree that while the current profitability is a major achievement, the focus must now shift toward institutionalizing these improvements to prevent a return to the cycle of debt and state dependency that characterized previous years.

Goosie Tanoh Announces 150-Acre Air Cargo Hub at Tamale Airport to Drive Agricultural Exports and 24-Hour Economy
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Goosie Tanoh Announces 150-Acre Air Cargo Hub at Tamale Airport to Drive Agricultural Exports and 24-Hour Economy

The Government of Ghana has announced plans to develop a 150-acre air cargo hub at the Tamale International Airport, a strategic move designed to transform Northern Ghana into a major export gateway. Mr. Goosie Tanoh, the National Coordinator for the 24-Hour Economy Secretariat, revealed the project as a cornerstone of President John Mahama’s signature 24-hour economy initiative. The facility is specifically tailored to enhance the export of high-value agricultural products, such as vegetables and fruits, from the northern regions to lucrative international markets, thereby bridging the gap between local production and global demand. Speaking at the inauguration of Northshore Apparel Ghana Limited—a new export garment factory in Savelugu—Mr. Tanoh emphasized that the air cargo hub is not an isolated project but part of a broader, integrated economic system. This system aims to unify agriculture, manufacturing, energy, and logistics to create a seamless value chain. A key component of this strategy is the establishment of an agriculture corridor to facilitate commercial-scale production and provide smallholder and commercial farmers with direct access to the infrastructure needed for global trade. To ensure the sustainability of these industrial and agricultural developments, the government is also advancing a 1.5-gigawatt solar power plant project. This renewable energy infrastructure is intended to provide the reliable, cost-effective power necessary to support 24-hour operations in regional manufacturing and processing plants. The initiative has received international recognition, with the German Ambassador to Ghana, Mr. Frederik Landshof, commending the strategic focus on sustainable development and affirming Germany’s continued support for Ghana's economic transformation. The development of the Tamale air cargo hub and its associated infrastructure is expected to be a significant driver of job creation and economic revitalization in northern Ghana. By shifting the regional economy toward a production and export-led model, the government aims to increase national productivity and ensure that the benefits of the 24-hour economy reach beyond the capital. As the project progresses, it is positioned to serve as a catalyst for further private sector investment in the logistics and agribusiness sectors, cementing Tamale's role as a vital economic node.

Johnson Asiedu Nketiah (middle), Board Chairman of the GPHA, assisted by Major General Paul Seidu Tanye-Kulono (right), Director-General of the GPHA, and Capt. James R. Quayson (left), Director of Takoradi Port, to unveil the 40th anniversary cloth for GPHA
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GPHA Board Chairman Asiedu Nketiah Reaffirms Vision for Regional Trade Hub Amid Calls for Robust Port Digitalization

The Ghana Ports and Harbours Authority (GPHA) has marked its 40th anniversary with a renewed commitment to transforming Ghana into the premier trade and logistics hub of West Africa. Speaking at the anniversary celebrations in Tema, GPHA Board Chairman Johnson Asiedu Nketiah emphasized that the authority, established in 1986, has evolved through critical reforms to enhance operational efficiency. This vision for regional dominance is supported by major infrastructure projects, including the development of a 3.5-million-TEU container terminal and a strategic shift toward automation. However, while GPHA celebrates these milestones, private sector stakeholders are highlighting the urgent need for more resilient digital infrastructure to sustain these gains. The Importers and Exporters Association of Ghana (IEAG) has raised concerns regarding the reliability of the Ghana Revenue Authority’s (GRA) digital platforms. IEAG Executive Director Samson Asaki Awingobit noted that a recent week-long breakdown of the Ghana.gov platform caused significant delays and financial losses for businesses relying on digital transactions. The association is calling on the GRA to prioritize investments in system resilience and effective backup solutions to prevent such disruptions. The IEAG argues that the success of ongoing port reforms depends heavily on an uninterrupted digital environment, particularly during high-traffic periods. Beyond digitalization, the maritime community is focusing on long-term sustainability and the protection of strategic assets. GPHA Director-General Major General Paul Seidu Tanye-Kulono underscored that the authority must continue to evolve, with future priorities shifting toward "smart" technologies and green initiatives to meet global standards. Simultaneously, stakeholders from the Customs Division and various importer groups have stressed the importance of protecting port lands from encroachment and expanding terminal capacity to accommodate increasing cargo volumes. These efforts are viewed as essential to maintaining the competitive edge of Ghana’s maritime gateways. As the Yuletide season approaches, the IEAG also acknowledged a positive shift in the broader economic landscape, commending the Bank of Ghana and the Ghana Gold Board for their roles in stabilizing the foreign exchange market and reducing lending rates. These improvements in business conditions are expected to spur demand in the coming months. To capitalize on this stability, industry experts agree that the synergy between financial policy and port efficiency must be tightened, ensuring that strategic investments in physical infrastructure are not undermined by technical bottlenecks or administrative delays.

Some of the items ready for distribution on display
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TCDA and CRIG Partner to Combat Diseases and Scale Productivity in Ghana’s Tree Crop Sector

The Tree Crops Development Authority (TCDA) has intensified its efforts to modernize Ghana’s agricultural landscape through a strategic partnership with the Cocoa Research Institute of Ghana (CRIG). Led by TCDA Chief Executive Officer Dr. Andy Osei Okrah, a high-level delegation recently visited CRIG’s facilities in Tafo to establish a framework for research-backed innovation in the tree crop sector. This collaboration specifically targets the development of disease-resistant varieties and the improvement of production techniques for high-value crops like cashew and shea, which are vital to the country's non-traditional export strategy. During the engagement, Dr. Okrah and CRIG’s Executive Director, Dr. Kofi Owusu Domfeh, discussed critical challenges facing the industry, including the devastating impact of diseases such as powdery mildew on cashew yields. The delegation toured CRIG’s research facilities, observing advanced operations like seedling grafting designed to produce superior planting materials. A central theme of the discussions was the necessity of bridging the gap between scientific research and field practice. By translating laboratory breakthroughs into practical interventions and robust farmer education programs, the TCDA aims to empower growers with the tools and knowledge needed to combat climate and biological threats effectively. Complementing these research initiatives, the TCDA has also accelerated direct field support through the launch of the Tree Crops Input Support Programme. In partnership with the Mampong Municipal Assembly, the Authority is distributing essential agricultural inputs—including high-quality seedlings, fertilizers, and specialized equipment—to local farmers. TCDA Board Chairman Professor William Oduro emphasized that these actions align with the government’s RESET Agenda and the broader Agriculture for Economic Transformation Agenda. By focusing on its six mandated crops—cashew, oil palm, rubber, shea, mango, and coconut—the TCDA seeks to build a sustainable and resilient agricultural backbone for the national economy. The local impact of these interventions was echoed by Mampong Municipal Chief Executive Issifu Yakubu, who noted that such support is crucial for revitalizing the local economy and making agriculture an attractive career path for the youth. As the TCDA moves forward with its mandate, the integration of CRIG’s scientific expertise with the Authority’s distribution networks is expected to create a more productive and profitable environment for smallholder farmers. Beneficiaries of the recent input distribution have expressed optimism, pledging to utilize the resources to improve their livelihoods and contribute to Ghana’s export diversification goals.

This Is Ghana Exhibition 2026: GIPC and Local SMEs Drive Global Ambitions in Accra
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This Is Ghana Exhibition 2026: GIPC and Local SMEs Drive Global Ambitions in Accra

The 2026 'This Is Ghana Exhibition' successfully concluded at Accra’s Efua Sutherland Children’s Park on August 30, marking a significant milestone for local commerce. Organised by Citi FM and Channel One TV, the two-day event attracted thousands of visitors and provided a vital marketplace for small and medium-sized enterprises (SMEs) to showcase 'Made-in-Ghana' products. Spanning sectors from food and fashion to beauty and handicrafts, the exhibition served as a platform for entrepreneurs to connect directly with consumers, fostering a celebration of Ghanaian creativity and enterprise that extends beyond mere sales to long-term economic growth. During the opening of the exhibition, GIPC CEO Simon Madjie, representing Chief of Staff Julius Debrah, delivered a strong call for Ghanaian businesses to prioritize quality and innovation. The government emphasized that local products must compete on their own merit and value rather than relying solely on the 'buy local' sentiment. Madjie urged entrepreneurs to invest in modern technology and a skilled workforce to ensure their goods can stand up to international competition. This strategic focus aligns with the Ghana Investment Promotion Centre's (GIPC) evolving mandate to support domestic firms in exploring global markets, effectively positioning Ghana as a competitive destination for international business. Participating vendors, including brands such as Fragroma and Cocolyf, reported exceptional sales outcomes and enhanced brand visibility compared to previous years. Exhibitors highlighted the value of direct consumer feedback and the networking opportunities provided by the event, which are essential for refining products and scaling operations. Supported by major sponsors including Ecobank, MTN, the GIPC, and the Ghana Enterprises Agency (GEA), the exhibition featured vibrant product demonstrations and rigorous security, ensuring a safe and productive environment for both vendors and the high volume of patrons in attendance. The success of the 2026 edition underscores the critical role of the private sector in transforming the national economy under the current administration of President John Mahama. As stakeholders look toward the future, the emphasis remains on converting the initial visibility gained at the exhibition into sustainable, repeat business and international trade opportunities. By moving from the export of raw materials to the production of structured, high-value brands, Ghanaian SMEs are proving their capacity to lead the country’s economic expansion and compete on a global scale.

Sampson Ahi, Deputy Minister of Trade, Agribusiness and Industry interacting with Asantehene, Otumfuo Osei Tutu II, who graced the summit while others look on
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Ghana Projects Economic Resilience as FDI Hits $2.62bn Amid Debate Over Gold-Backed Stabilization Policies

Ghana is intensifying its efforts to attract global capital, with the government reporting $2.62 billion in Foreign Direct Investment (FDI) for 2025. Representing the President John Mahama administration at the Africa Business Investment Summit (ABIS) in Washington, D.C., Deputy Minister of Trade Sampson Ahi emphasized the nation’s commitment to industrialization through the '24-Hour Economy' and 'Feed Ghana' programmes. These initiatives are designed to leverage Ghana’s strategic position as the host of the AfCFTA Secretariat, offering investors a gateway to a market of 1.3 billion people. The summit also featured insights from the Asantehene, Otumfuo Osei Tutu II, who underscored that consistent good governance remains the primary catalyst for attracting sustainable international partnerships. While the current administration promotes new growth paths, former Vice President Dr. Mahamudu Bawumia has provided new details on the fiscal strategies that stabilized the cedi during recent economic volatility. Dr. Bawumia revealed that a strict $80 million monthly cap on foreign exchange interventions, previously imposed by the International Monetary Fund (IMF), had caused artificial currency scarcity and rapid depreciation. To circumvent these restrictions, the previous administration introduced the 'Gold-for-Oil' and 'Gold-for-Reserves' programs. These unconventional strategies successfully increased national gold reserves from 8.7 tons to over 31 tons within two years, eventually prompting the IMF to lift the intervention cap and allowing the Bank of Ghana to inject over $1 billion monthly into the forex market. However, the success of these gold-backed policies has become a subject of intense domestic scrutiny. The Institute of Economic Research and Public Policy (IERPP) recently balanced its praise for the $2.62 billion FDI inflow with a stern warning regarding the Domestic Gold Purchase Program (DGPP). The Institute questioned the overall fiscal health of the strategy, suggesting that while the program aided currency stabilization, it may have resulted in financial losses totaling approximately $1.7 billion. This critique highlights a growing tension between the need for innovative economic management and the imperative for transparency in state-led commodity trading. As Ghana navigates this complex economic landscape, the focus remains on maintaining the momentum of international confidence. The transition from the emergency measures described by Dr. Bawumia to the long-term industrialization goals of the Mahama government represents a pivotal moment for the nation's economy. Moving forward, the government must reconcile the high cost of past stabilization efforts with the promise of new investments in industrial parks and special economic zones to ensure that FDI gains translate into tangible job creation and sustainable growth.