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.

Three young professionals are seated around a round wooden table, focused on reviewing and signing several documents. The group, consisting of two women and one man, appears to be in a formal business meeting or collaborative work session within a well-appointed office or lounge environment.
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Consumers warned to scrutinize online gaming reviews for fake ratings

Consumers are being cautioned to exercise greater diligence when interpreting online reviews, particularly within the digital gaming and casino sectors. As the digital marketplace expands, skepticism regarding the integrity of star ratings is mounting. Experts now urge the public to prioritize detailed, qualitative feedback over numerical averages, which can often be manipulated to project a false sense of reliability and popularity. This push for verification comes at a time when automated and purchased feedback systems have become increasingly sophisticated. The warning follows research indicating that a substantial percentage of online reviews may be fabricated to artificially bolster a company's image. A common red flag for suspicious activity includes a sudden surge of positive feedback, such as hundreds of five-star reviews appearing overnight. While these inflated ratings can provide a temporary marketing advantage, they frequently lack the specific context and nuance found in genuine user experiences. Consequently, consumers are advised to look for context-rich reviews that describe specific features, problems, or interactions with customer service to ensure they are making safe financial choices. Organizations like Casino Guru are being highlighted as examples of how structured, detailed assessments can help users make informed decisions in sectors involving financial investment. By providing deep-dive evaluations rather than simple ratings, these platforms aim to restore trust in digital feedback systems. The prevalence of fake reviews not only misleads individual consumers but also threatens the broader credibility of the online marketplace, making authentic peer reviews increasingly valuable for maintaining market standards. Ultimately, the shift toward critical review verification is seen as a necessary step for consumer protection in the digital age. Industry analysts suggest that while companies may be tempted by the quick gains of artificial feedback, the long-term risk of exposure and the subsequent loss of consumer trust is significant. For the digital economy to remain healthy, maintaining the integrity of the review ecosystem is essential, ensuring that genuine customer voices are heard above the noise of automated or purchased praise.

A digital illustration depicting mobile money transfers between two smartphones, featuring floating banknotes and gold coins. A small Ghanaian flag stands in the center, while the foreground phone displays a fingerprint sensor and a 'Send now' button.
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Mobile money transactions in Ghana reach GH‵4.54 trillion in 2025

Ghana’s mobile money ecosystem has reached a significant milestone, processing approximately 9.70 billion transactions valued at GH‵4.54 trillion throughout 2025. This surge in digital financial activity underscores the central role mobile money now plays in the national economy, having evolved from a simple payment tool into a massive infrastructure for financial data. The volume of transactions reflects a significant shift in how Ghanaians manage their finances, especially within underserved communities. While the scale of transactions is substantial, data reveals a significant gap between account registration and actual usage. Out of 80.5 million registered mobile money accounts in the country, only 26.7 million are currently classified as active. This disparity suggests that while the initial hurdle of financial inclusion—providing access to a digital wallet—has been largely cleared, the next phase of development must focus on deepening financial engagement. The challenge for the sector is to move beyond basic transfers and encourage users to utilize the full range of available digital financial services. A key component of this evolution involves leveraging the vast amounts of transaction data generated by the GH‵4.54 trillion in activity. Financial experts and industry stakeholders are calling for this data to be used more effectively to inform credit decisions and capital allocation, particularly for small and medium-sized enterprises (SMEs). Currently, many small businesses remain underserved by traditional banking credit despite their heavy reliance on digital payment systems. By analyzing transaction patterns and digital footprints, lenders can better assess the bankability of borrowers who lack traditional collateral or credit histories. Looking ahead, the focus for Ghana’s financial sector is expected to shift toward creating a more integrated ecosystem that prioritizes the depth of engagement over simple access. This transition will require the development of sophisticated digital identities, improved credit structuring, and more transparent data-sharing protocols between mobile money operators and financial institutions. The ultimate goal is to transform digital transaction flows into productive capital, enabling small businesses to thrive and ensuring the long-term sustainability of Ghana's digital economy.

AI agents are changing who makes buying decisions
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Dr. Maxwell Ampong urges businesses to adapt to AI-driven commerce

Ghanaian businesses are being cautioned to prepare for a fundamental shift in commerce as artificial intelligence (AI) agents increasingly take over the role of making buying decisions for consumers. This transition toward a "headless" marketplace means that instead of direct human-to-business interaction, digital gatekeepers are now performing product and service comparisons. According to insights shared by Dr. Maxwell Ampong, companies that fail to ensure their digital information is transparent and reliable risk being excluded by these emerging AI systems. The traditional model of customer engagement is being disrupted by the rise of AI assistants that act as intermediaries. These systems analyze vast amounts of digital data to recommend the best options to users, often bypassing conventional marketing channels. In this environment, the accessibility and trustworthiness of a company’s digital presence become critical. If an AI agent cannot easily verify the quality or value of a service through available digital data, that business may be overlooked entirely in the automated decision-making process. Dr. Ampong emphasizes that winning trust is no longer just about the human consumer; it is also about securing the trust of the AI systems representing them. While software intellectual property remains important, the primary focus for entrepreneurs must shift toward providing verifiable and high-quality data that AI can interpret. This involves a strategic pivot toward digital transparency and reliability, ensuring that all product specifications, pricing, and service details are accurate and readily available for automated assistants. As the marketplace continues to transform, the competition for consumer attention will increasingly be mediated through these digital gatekeepers. For Ghanaian entrepreneurs and established firms alike, staying competitive requires a proactive approach to digital transformation. Prioritizing clear, trustworthy digital information will be the baseline for survival in a future where AI, rather than the individual shopper, increasingly dictates which brands succeed and which are left behind.

UNODC urges closer cooperation with virtual asset service providers
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UNODC urges closer cooperation with virtual asset service providers

The United Nations Office on Drugs and Crime (UNODC) has called for enhanced collaboration between financial regulators, investigators, and virtual asset service providers (VASPs) to combat organized crime more effectively. During a recent training event held in Nairobi, experts emphasized that the protection of global financial systems requires joint training focused on real-world scenarios and clear communication channels. The initiative seeks to bridge the existing divide between the public and private sectors in the digital asset space. According to analysis from Japhet Gana of Yellow Card, while the Financial Action Task Force (FATF) has noted progress in its recent reviews, significant gaps remain in the operational protocols between investigators and digital asset firms. The Nairobi session highlighted that treating virtual asset providers as partners, rather than merely regulated entities, can lead to more efficient financial crime investigations. By standardizing communication, authorities can more effectively trace illicit funds and respond to the evolving tactics of organized criminal networks. Kenya was identified during the training as a regional leader in virtual asset regulation, serving as a potential model for other jurisdictions. The UNODC-led effort aims to close operational gaps worldwide, ensuring that investigators have the tools and relationships necessary to navigate the complexities of the digital economy. Experts concluded that formalizing these partnerships is essential for maintaining the integrity of financial systems as the use of virtual assets continues to expand globally.

Stephen Adei warns infrastructure gaps threaten 24-hour economy
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Stephen Adei warns infrastructure gaps threaten 24-hour economy

Professor Stephen Adei, former Rector of the Ghana Institute of Management and Public Administration (GIMPA), has warned that infrastructure deficiencies, specifically power deficits and unreliable internet connectivity, could undermine the government's 24-hour economy initiative. Speaking at the 37th CIMG Annual National Marketing Performance Awards, Adei emphasized that while the policy holds potential, its success is contingent on addressing foundational issues like water pollution and energy stability to support a modern, AI-driven economy. He noted that while the government has made progress in developing industrial areas, the viability of 24-hour markets depends on these basic service improvements. Adei called on President John Mahama to move beyond short-term stabilization and present a 40-year national development plan to guide Ghana’s long-term economic transformation. While acknowledging recent progress, including declining inflation and improved foreign reserves, he cautioned that stability alone is insufficient for sustainable development. He urged the administration to clarify the distinction between slowing inflation and rising prices for the public and stressed the importance of maintaining fiscal discipline to preserve gains made under debt restructuring and international support programs. Addressing the extractive sector, Professor Adei highlighted a significant rise in gold production, which grew from 63 tonnes in 2024 to 103 tonnes in 2025. However, he expressed concern over the lack of mineral royalties collected from small-scale mining, which accounted for more than half of the country’s gold exports. He warned that the environmental damage and "residue of death" caused by unregulated mining practices must be addressed, advocating for stricter regulation and accountability to protect farmlands and public health while securing state revenue. Finally, Adei advised Ghanaian businesses to leverage the African Continental Free Trade Area (AfCFTA) by building brands grounded in quality, integrity, and innovation rather than relying on raw material exports. He noted that although lending rates have shown some improvement, high interest rates continue to hinder business growth. He concluded by urging a collaborative approach between the state and the private sector to ensure that technological innovations, including artificial intelligence, translate into tangible economic growth for the nation.

A portrait of Alhaji Seidu Agongo, the founder of Class Media Group, seated at an office desk. He is wearing a vibrant blue suit with a red and white striped tie and looking directly at the camera with a subtle smile.
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John Mahama highlights trust as foundational at Accra TV launch

President John Dramani Mahama has officially launched Accra TV, emphasizing that societal trust remains the essential cornerstone for national development and democratic stability. Speaking as the guest of honor at the event organized by the Class Media Group, the President noted that trust is the foundational element governing the relationships between citizens, their political leaders, and the private sector. He underscored that without a high degree of mutual confidence, the goals of economic prosperity and social cohesion would remain elusive for the nation. Addressing the audience, President Mahama raised concerns regarding the current climate of public skepticism. He argued that in an era of rapid information flow, the burden of building trust lies heavily on the shoulders of those in leadership positions and institutions of influence. According to the President, trust is not a passive commodity but something that must be actively earned through consistent transparency, accountability, and a commitment to the truth. He called on stakeholders across all sectors to prioritize ethical conduct to restore the faith of the Ghanaian people in national institutions. The President particularly highlighted the vital role of the media in fostering this culture of transparency. He urged Accra TV and other media organizations to act as reliable gatekeepers of information, providing the public with credible and factual reporting that can withstand scrutiny. Mahama stressed that the media serves as a critical bridge between the government and the populace; therefore, the dissemination of accurate news is paramount to ensuring an informed electorate and a healthy democracy. He commended the Class Media Group for its expansion and challenged the new station to set high standards in professional journalism. In his concluding remarks, President Mahama expressed optimism that the addition of Accra TV to the Ghanaian media landscape would enhance the quality of public discourse. He reiterated that the station’s commitment to dialogue and factual reporting would be a significant contribution to the country’s democratic growth. By focusing on the values of integrity and openness, the President believes that both the media and the state can work together to build a more prosperous and trust-filled society for all Ghanaians. This launch marks a significant milestone for the Class Media Group, founded by Alhaji Seidu Agongo, as it seeks to broaden its reach and influence within the national media space.

Yagbonwura Cultural and Eco-Tourism Experience set for October 25 launch
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Yagbonwura Cultural and Eco-Tourism Experience set for October 25 launch

The Yagbonwura Cultural and Eco-Tourism Experience is scheduled to take place on October 25 and 26, 2026, marking a significant effort to highlight the Savannah Region’s cultural heritage and investment potential. Organized as part of the 6th Inter Tourism Expo Accra (INTTA) 2026, the two-day initiative seeks to showcase the unique attractions of northern Ghana to a global audience of stakeholders and investors. The event serves as a strategic platform to connect regional assets with the broader national economic development agenda. The experience will focus on key destinations including Damongo, Mole National Park, and Bole, emphasizing both heritage and eco-tourism. By drawing attention to these specific sites, organizers aim to bridge the economic divide by fostering cultural exchange and promoting the northern belt as a primary tourism hub. The initiative is designed to invite direct engagement with local businesses, offering participants a firsthand look at the commercial opportunities available within the region’s hospitality and conservation sectors. Emmanuel Treku, the Executive Chairman of INTTA, emphasized that the event is intended to stimulate local economies and promote sustainable job creation. He noted that the Yagbonwura experience serves as a tool for community integration, ensuring that local residents benefit directly from the influx of visitors and investment. By showcasing these opportunities, the project aligns with national goals to diversify the economy through the preservation and promotion of natural and cultural assets. As preparations for the October launch continue, the initiative underscores a growing movement to decentralize Ghana’s tourism industry. Stakeholders and investors are expected to explore various partnerships that could provide a long-term boost to the regional economy. The success of this event is anticipated to set a precedent for future tourism-led interventions aimed at unlocking the economic potential of the Savannah Region.

MobileMoney Fintech LTD educates 500 customers on fraud prevention
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MobileMoney Fintech LTD educates 500 customers on fraud prevention

MobileMoney Fintech LTD has organized a major customer engagement forum in Accra to address digital payment challenges and enhance financial literacy among its users. Held at the Accra Metropolitan Assembly, the event, titled "MMFL Cashless Conversation," brought together over 500 participants primarily from the informal sector. The gathering focused on the evolving landscape of mobile money services in Ghana and the practical steps needed to secure digital transactions against emerging threats. During the session, management and technical teams provided detailed education on detecting and preventing mobile money fraud. With the informal sector being particularly vulnerable to sophisticated scams, the company focused on teaching traders and artisans how to identify suspicious activities and protect their account credentials. Attendees were also given a platform to voice specific concerns regarding transaction delays and service accessibility, which the company pledged to address through targeted service improvements. MobileMoney Fintech LTD reaffirmed its commitment to deepening Ghana's cashless economy through sustained infrastructure investment. Company leadership indicated that the "Cashless Conversation" would become a recurring series to promote responsible digital financial services. By fostering direct engagement with the public, the firm aims to ensure that mobile money remains a secure and reliable tool for financial inclusion and economic growth across the country.

Dr. Ernest Addison, Governor of the Bank of Ghana, is pictured speaking at a formal event behind a podium with several microphones. He is dressed in a dark double-breasted suit and glasses, standing against a backdrop of a blue world map and a red 'SPEAKERS' banner. The Bank of Ghana logo is visible in the bottom left corner, indicating the official nature of the address.
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Bank of Ghana reports high credit risks hinder lending to SMEs

The Bank of Ghana (BoG) has identified persistent credit risks as a primary factor restricting commercial bank lending to small and medium-sized enterprises (SMEs). Despite a downward trend in inflation and improving macroeconomic indicators, the central bank’s Monetary Policy Committee (MPC) observed that financial institutions remain cautious. This hesitancy is largely driven by concerns over asset quality and the capacity of borrowers to meet repayment obligations in an evolving economic environment. The MPC noted that while the economy shows signs of recovery, the transition to increased private-sector credit remains slow. According to the MPC, several structural and operational issues continue to impede SMEs from accessing affordable credit. Many of these businesses struggle with weak financial record-keeping and a lack of sufficient collateral, which heightens the perceived risk of default for lenders. Banks are particularly wary of extending credit to sectors considered high-risk, including agriculture, transport, and construction, even as overall lending rates have begun to see some reduction. The BoG indicated that the gap between policy rate adjustments and actual commercial lending behavior is partly due to these ingrained risks within the SME sector. To bridge the funding gap and support business expansion, the BoG emphasized the necessity of strengthening credit information systems and improving collateral enforcement mechanisms. Such measures are intended to provide banks with greater certainty and reduce the likelihood of non-performing loans. While the central bank anticipates a gradual recovery in private-sector credit growth as the broader economy stabilizes, it maintains that lending decisions will continue to be heavily influenced by these underlying credit risks. Addressing these systemic barriers is considered vital for the growth of SMEs, which remain the backbone of employment and economic activity in Ghana.

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Bank of Ghana reports negative credit-to-GDP gap through August 2026

The Bank of Ghana (BoG) has reported that the nation's credit-to-GDP gap remained negative throughout the first eight months of 2026. This indicator suggests that Ghana currently operates within a low-risk credit environment, as the expansion of credit to the private sector continues to lag behind the overall pace of economic growth. The central bank's latest macro-financial risk assessment highlights that while financial intermediation remains active, the systemic risks typically associated with rapid credit bubbles are currently absent, providing room for measured expansion. The assessment underscores the resilience of the Ghanaian banking sector, which has been significantly bolstered by improving macroeconomic conditions. Key factors contributing to this stability include a consistent downward trend in inflation and narrowing fiscal deficits. Furthermore, both households and corporations have demonstrated improved debt-servicing capacities, reducing the likelihood of defaults. This favourable environment allows banks to maintain their vital role in supporting the economy through credit facilities without compromising broader financial stability. Looking ahead, the central bank maintains a positive near-term economic outlook, supported by robust foreign exchange reserves and sustained low inflation. However, the BoG cautioned that external factors could influence this stable trajectory. Specifically, geopolitical tensions in the Middle East remain a potential risk factor that could impact global markets and local economic conditions. Despite these external uncertainties, the current negative credit-to-GDP gap indicates that the financial system is well-positioned to support further economic growth in a controlled and sustainable manner.

Ghana to host signing of UN Convention on negotiable cargo documents on October 26
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Ghana to host signing of UN Convention on Negotiable Cargo Documents

Ghana is scheduled to host the official signing ceremony for the United Nations Convention on Negotiable Cargo Documents (NCDs) on October 26, 2026. This international event follows the convention's adoption by the UN General Assembly on December 15, 2025, and represents a significant step toward the digital transformation of global trade. The ceremony will focus on establishing a modernized legal framework that allows for the electronic transfer of cargo ownership documents, moving away from traditional paper-based systems. Professor Ransford Gyampo, Chief Executive Officer of the Ghana Shippers' Authority, emphasized that the convention is designed to streamline trade processes and reduce the high costs associated with manual documentation. By providing a standardized legal basis for electronic NCDs, the framework is expected to enhance efficiency in international commerce and improve access to trade finance. This transition is seen as a critical component of Ghana's broader strategy to modernize its logistics sector and reduce administrative bottlenecks at its ports. Representing the Minister of Trade, Madam Stella Ansah highlighted the broader advantages of the convention, noting its potential to reinforce Ghana's position as a key trade hub in West Africa. The implementation of these standards is expected to align closely with the goals of the African Continental Free Trade Area (AfCFTA) by reducing technical barriers to cross-border commerce. Small and medium-sized enterprises (SMEs) are predicted to be the primary beneficiaries, as the move toward digitization lowers entry costs and increases the speed of international transactions for smaller exporters and importers.

GHATOF demands compensation for 85 demolished La Pleasure Beach businesses
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GHATOF demands compensation for 85 demolished La Pleasure Beach businesses

The Ghana Tourism Federation (GHATOF) is demanding immediate compensation for 85 businesses that were recently demolished at La Pleasure Beach. The federation warns that the clearance of these enterprises has placed approximately 4,000 jobs in jeopardy, with a significant majority of the affected workers being women. GHATOF has expressed deep concern over the lack of consultation and the disregard for the economic contributions these businesses have made to the local and national economy over several decades. According to the federation, the demolitions were carried out despite many of the affected businesses holding valid operating permits. GHATOF is now calling for full accountability from the local authorities and public institutions involved in the exercise. In addition to financial compensation, the federation is advocating for the displaced traders to be granted the first right of refusal in any future redevelopment of the beachfront. This measure is intended to ensure that long-standing operators are not permanently displaced by new commercial interests in the area. The incident has raised broader concerns about the stability of the tourism environment in Ghana. GHATOF emphasizes that such actions threaten to undermine investor confidence, as they signal a lack of protection for established business interests. The federation is urging the government and relevant stakeholders to prioritize engagement with the affected traders to find a resolution that supports the future of the tourism sector while protecting the livelihoods of those who have built it.