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.

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Ghana's Debt Restructuring Gains Momentum with Afreximbank Agreement, Says IMF

The International Monetary Fund (IMF) has announced that Ghana's recent resolution of a US$750 million facility with the African Export-Import Bank (Afreximbank) is a significant milestone in the country's ongoing debt restructuring efforts. IMF Director Julie Kozack emphasized that this agreement aligns with the framework set by the Official Creditor Committee and supports the broader goals of the US$3 billion IMF-supported program initiated following Ghana's default on external debt in 2022. While specific details of the agreement remain undisclosed, both the IMF and Afreximbank expressed satisfaction with the resolution, which aims to bolster Ghana's infrastructure projects and stabilize the Bank of Ghana's foreign reserves. This development comes after previous challenges regarding Afreximbank's preferred creditor status, which had raised concerns about its role in Ghana's commercial debt restructuring. The agreement is expected to facilitate Ghana's path towards economic recovery and financial stability amid ongoing restructuring efforts.

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The Case for Maintaining Ghana's Petroleum Price Floor

In Ghana, the downstream petroleum sector was fully deregulated in July 2015, although the National Petroleum Authority (NPA) retained a price floor to ensure market stability and prevent predatory pricing. Recently, the CEO of Star Oil has called for the removal of this price floor, arguing that it could enhance competition. However, this proposal has raised concerns among industry experts and stakeholders who warn that eliminating the price floor could lead to market instability and negatively impact consumers. The rise of Star Oil as a market leader is cited as evidence of the price floor's effectiveness in fostering a competitive environment. Advocates for maintaining the price floor argue that it is crucial for protecting consumers and ensuring fairness in the market. The ongoing debate highlights the delicate balance between deregulation and consumer protection in Ghana's petroleum market.

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Bank of Ghana's 2026 Vision: Consolidation and Economic Journalism Excellence

Dr. Johnson Pandit Asiama, the Governor of the Bank of Ghana (BoG), has outlined the bank's strategic focus for 2026, emphasizing the need to consolidate macroeconomic gains achieved in 2025 while strengthening the foreign exchange and money markets. In a recent media engagement, he stressed the importance of rebuilding confidence in financial policies and enhancing market stability. The Governor highlighted that future policies will be evidence-based, prioritizing consumer protection and sustainable economic arrangements. Additionally, the BoG has launched the "Governor’s Economic and Financial Story of the Year Award" to promote high-quality economic journalism. Announced by Second Deputy Governor Matilda Asante-Asiedu, this initiative aims to improve public understanding of monetary policy and recognize responsible economic reporting. The award will reward the winner with a fully sponsored trip to the IMF and World Bank Annual Meetings, underscoring the crucial role of the media in conveying complex economic issues and fostering transparency in economic governance. Both Asiama and Asante-Asiedu reiterated the necessity of collaboration between the central bank and the press to achieve these goals.

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Ghana to Host 2026 Africa Real Estate Festival Focused on Sustainable Urban Development

The Africa Real Estate Festival (AREF) is set to take place on April 18-19, 2026, in Accra, Ghana, under the theme "Innovation Meets Identity: Designing Africa’s Next Living Experience." Founded by Desmond Oteng, the festival aims to redefine the real estate landscape in Africa by emphasizing community engagement and sustainable development amid rapid urbanization. Expected to attract over 1,500 delegates, including policymakers, investors, and industry stakeholders from more than 30 countries, AREF will feature over 100 exhibitors and 50 speakers. The festival seeks to position real estate as a catalyst for economic transformation and cultural expression, generating over $200 million in investment leads. Key discussions will focus on integrating capital markets and enhancing regulatory transparency within Ghana's real estate sector. The festival will also highlight international participation, with contributions from countries such as Barbados, showcasing lessons in tourism-linked real estate. AREF plans to expand its reach across Africa, promoting urban innovation and fostering cross-sector collaboration in future regional events.

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Elon Musk Pursues $134 Billion Lawsuit Against OpenAI and Microsoft for 'Wrongful Gains'

Elon Musk has initiated a lawsuit against OpenAI and Microsoft, claiming he is entitled to up to $134 billion for the "wrongful gains" the companies have accrued from his early support of OpenAI. Musk, who invested approximately $38 million in the organization during its inception, argues that OpenAI has generated earnings between $65.5 billion and $109.4 billion, while Microsoft has profited between $13.3 billion and $25.1 billion as a result of his contributions. In response, OpenAI has dismissed Musk's claims as "baseless." A judge has scheduled a jury trial to commence in April 2026, where Musk is seeking punitive damages and other penalties based on the jury's findings regarding the responsibilities of both companies.

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Bank of Ghana Outlines Economic Consolidation Strategies for 2026

The Bank of Ghana has announced its commitment to economic consolidation in 2026, focusing on transforming previous gains into lasting stability and confidence. In a recent media engagement, Governor Dr. Johnson Pandit Asiama emphasized the importance of disciplined monetary policies and effective market management to foster a resilient financial system. Key strategies outlined include prioritizing risk identification within financial institutions, enhancing the efficiency of financial markets, and strengthening regulations for fintech operations. The central bank aims to embed these reforms into routine practices, ensuring a reliable economic environment that promotes transparency and confidence among stakeholders. By prioritizing long-term stability over the introduction of numerous new policies, the Bank of Ghana seeks to create a robust economic landscape that supports sustainable growth and resilience in the face of financial vulnerabilities.

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Aayalolo BRT Faces Operational Challenges Due to Traffic Congestion and Reduced Fleet

The Aayalolo Bus Rapid Transit (BRT) system is currently facing significant operational challenges, primarily due to traffic congestion and a reduced fleet of buses. Justice K. Safo, the Public Relations Officer for Aayalolo BRT, reported that 12 buses are undergoing repairs, which has further impacted service efficiency. The fleet has decreased from an initial 245 buses to just 173, as 72 buses have been reassigned to other areas or have been lost to accidents over the past decade. This reduction in fleet size, combined with buses intended for dedicated lanes being caught in general traffic, has resulted in travel times increasing from one hour to two or three hours. Safo emphasized the urgent need for better traffic management and additional support to enhance the BRT services and fulfill its mission of easing urban traffic congestion.

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IMF Praises Ghana's Domestic Gold Purchasing Programme for Economic Stability

The International Monetary Fund (IMF) has lauded Ghana's Domestic Gold Purchasing Programme (DGPP), initiated in 2022 by former Vice President Dr. Mahamudu Bawumia, for its significant contributions to the country's economic stability during a challenging period. The programme has successfully increased Ghana's gold reserves from 8 tonnes to 30 tonnes over two years, which has positively impacted the value of the Ghanaian Cedi, reducing it from nearly 17 to 14 by 2024. This improvement has also contributed to lowering inflation and fuel prices. While the IMF acknowledged the programme's role in bolstering international reserves, it urged for enhanced transparency and risk management in light of recent losses associated with the initiative.

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South Africa to Lead High-Profile Delegation at World Economic Forum 2026 in Davos

South Africa is set to showcase its recent economic achievements and readiness for global partnerships at the World Economic Forum (WEF) in Davos from January 19 to 23, 2026. The delegation, led by Finance Minister Enoch Godongwana, includes key government officials and private sector leaders, reflecting a united front aimed at attracting international investment. This participation follows significant milestones, including the successful hosting of the G20 Summit, a credit rating upgrade from Standard & Poor’s, and removal from the FATF greylist, which enhances the country’s regulatory appeal. The South African delegation will highlight advancements in various sectors, particularly in energy stability, where the country has reported a sustained 300 days without load shedding, and improvements in renewable energy projects. Discussions at the forum will focus on South Africa's economic reforms, digital innovation, and opportunities under the African Continental Free Trade Agreement (AfCFTA). Events planned during the WEF will also showcase South African culture and hospitality, reinforcing the nation’s commitment to fostering global partnerships and economic growth. The presence of Team South Africa at an official site in Davos underscores its strategic positioning as a vital player in global economic discourse, particularly regarding energy transition and industrial supply chains.

A woman stands confidently with her arms crossed in a lush outdoor garden setting, wearing a red Telecel branded t-shirt and glasses. She is positioned centrally in the frame, surrounded by green grass, trees, and red flowering hedges.
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Francisca Asiedu: Pioneering Youth Empowerment in Agriculture Through Digital Skills

Francisca Asiedu, a former journalist, has transformed her career by advocating for youth involvement in agriculture in Ghana. Inspired by witnessing young graduates protesting for jobs, she established Eco Harvest Farm & Hub on her family's land, which has expanded to 25 acres producing various crops and livestock. To enhance her business acumen, Asiedu participated in a training program organized by the Telecel Ghana Foundation and Wan-Hive Ghana, focusing on digital and financial skills tailored for women in agribusiness. This program equipped her with essential marketing tools and strategies to improve her farm's visibility and financial management. Asiedu is also dedicated to reshaping perceptions of agriculture among the youth. She runs educational Farm Clubs in schools, aiming to introduce agricultural concepts and demonstrate that farming can be a viable and lucrative career path for younger generations. By integrating technology into farming practices, she hopes to inspire more young people to explore opportunities in this vital sector, emphasizing that modern agriculture is not just for the older generation but a promising field for the youth of Ghana.

An expansive aerial view of an industrial mining site, featuring large-scale processing infrastructure such as conveyor belts and a yellow gantry crane. Two heavy-duty front loaders are parked on the reddish-brown earth, while a lone worker in high-visibility safety gear walks through the middle ground.
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Ghana Implements Major Mining Reforms and GOIL Reduces Fuel Prices to Alleviate Economic Burden

Ghana is set to undergo significant reforms in its mining sector, including the elimination of long-term investment stability agreements and a substantial increase in royalties. The acting CEO of the Minerals Commission, Isaac Tandoh, announced that the new royalty rates will start at 9%, potentially rising to 12% if gold prices exceed $4,500 per ounce. This move aims to enhance government revenue from the booming gold market while ensuring that the benefits of mining are more equitably shared with local communities. The proposed changes will affect major mining companies such as Newmont, AngloGold Ashanti, and Gold Fields, as existing stability agreements will not be renewed. A draft bill detailing these reforms is expected to be presented to Parliament by March 2025. In a separate development, GOIL PLC has reduced fuel prices at 150 of its outlets across Ghana, with petrol now priced at GH¢9.99 per litre and diesel at GH¢11.21 per litre. This initiative aims to ease transportation costs for commuters and traders, reflecting recent economic improvements. GOIL's pricing strategy is designed to support national development and provide economic relief to the public amidst rising living costs.

A portrait of Ghanaian politician Cassiel Ato Forson, seen wearing a dark suit, white shirt, and a red patterned tie. He is seated in a black office chair and looking directly at the camera with a serious and professional expression.
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Ghana Publishing Company Faces Scrutiny Over Asset Valuation Amid Positive Economic Outlook

The Ghana Publishing Company is embroiled in a public dispute regarding claims of a staggering 3,000% increase in its asset base for 2023. Former Managing Director David Asante attributed this growth to strong operational performance, while the current management, led by Nana Kwasi Boatey, refuted this assertion, clarifying that the increase primarily resulted from a revaluation of existing assets, particularly land and buildings, rather than new investments. Financial statements reveal that total assets surged from GHS 16 million in 2022 to GHS 104.4 million in 2023, with a revaluation gain of GHS 85.4 million accounting for the majority of this increase. The management emphasized that actual operational investments were only GHS 3.5 million, suggesting that the portrayal of the asset growth as a result of operational improvements is misleading. In a broader economic context, the International Monetary Fund (IMF) has expressed optimism regarding Ghana's economic recovery, particularly for 2025, citing fiscal discipline and stable monetary policies as key factors. Dr. Adrian Alter, the IMF Resident Representative in Ghana, noted that the country’s program with the IMF remains solid and on track, following the completion of its fifth review under the Extended Credit Facility (ECF). The IMF has disbursed approximately $2.8 billion under this program, supporting ongoing fiscal adjustments and policy reforms aimed at restoring stability after a prolonged economic crisis. With lower inflation rates and positive growth indicators, the IMF's continued engagement post-program exit is expected to bolster Ghana's economic prospects.