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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Vehicle and Assets Dealers Union demands talks on GSA inspection policy

The Vehicle and Assets Dealers Union of Ghana (VADUG) has called for extensive stakeholder engagement before the Ghana Standards Authority (GSA) resumes its pre-shipment inspection policy for used vehicles. While the union acknowledges the importance of maintaining high vehicle safety standards, it warned that the current plan could impose significant financial burdens on importers and consumers if implemented without a clear, collaborative framework. The group is seeking a formal dialogue to ensure the policy is both effective and economically viable. The union's General Secretary, Frank Kofigah Atanley, emphasized that conducting inspections outside Ghana significantly increases operational costs, which would likely be passed on to the final buyer. VADUG is advocating for a system that balances safety requirements with the economic sustainability of the automotive business. Specifically, the union is seeking more clarity on the implementation framework to avoid operational gaps and administrative bottlenecks that could disrupt the importation process. Beyond cost concerns, the union is pushing for stricter scrutiny on salvage vehicles to ensure that only roadworthy cars enter the Ghanaian market. Mr. Atanley noted that while the union supports the policy's goal of improving consumer safety, it insists that the GSA must work closely with industry players to address potential hurdles. By fostering dialogue, the union believes the government can achieve high standards of vehicle safety without stifling the used car trade, which remains a vital component of the local economy.

Adidas sues White Fox over four-stripe clothing design
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Adidas sues White Fox over four-stripe clothing design

Adidas has initiated legal action against Australian fashion brand White Fox, claiming that the label’s use of a four-stripe design on its apparel infringes upon Adidas' iconic three-stripe trademark. The lawsuit, filed in the Federal Court, alleges that White Fox's branding is "deceptively similar" to the imagery Adidas has used and protected since 1957. Adidas argues that the use of four parallel stripes could mislead consumers into believing there is a formal association or endorsement between the two companies. According to court documents, the sportswear giant has been attempting to resolve the matter outside of court for several months. Adidas claims it first requested that White Fox cease selling and promoting the disputed items in March, but the Australian label reportedly ignored these demands. White Fox, which was established in 2013, has built a significant market presence, particularly among younger consumers, through aggressive social media marketing and advertising strategies that Adidas contends capitalize on its established brand identity. In its filing, Adidas provided the court with side-by-side product comparisons and examples of altered advertising images to demonstrate the potential for consumer confusion. The company is seeking damages for trademark infringement and a court order to prevent White Fox from further using the four-stripe motif. While the legal proceedings continue, White Fox has reportedly experienced significant revenue growth, emphasizing the commercial value of the branding currently under scrutiny in the Federal Court.

President John Dramani Mahama stands at a white podium bearing the Presidential Seal of Ghana during an official event. He is dressed in a brown button-down shirt and is accompanied by a military aide-de-camp standing behind him against a digital background.
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John Mahama visits Three Dreamer Manufacturing factory in Tema

President John Dramani Mahama has conducted a working visit to the Three Dreamer Manufacturing Company in Tema, Greater Accra, to underscore the vital role of local industries in driving Ghana’s economic growth and job creation. During his tour of the facility, the President praised the company’s management and staff for their contribution to the national economy and emphasized the importance of strengthening domestic production capabilities to ensure long-term stability. The visit served as a primary platform for the President to discuss the implementation of the 24-Hour Economy policy, a key initiative aimed at boosting industrial output. President Mahama explained that this policy is designed to support both new and existing factories by facilitating round-the-clock operations. He noted that by transitioning to a 24-hour cycle, businesses can significantly increase their production capacity, which in turn leads to the creation of more shifts and increased employment opportunities, particularly for the youth. This strategic shift is intended to reduce the nation’s reliance on imports and improve the overall trade balance. Beyond expanding local production, the President emphasized the need for Ghanaian manufacturers to aggressively explore international markets. He specifically pointed to the strategic opportunities presented by the African Continental Free Trade Area (AfCFTA). President Mahama encouraged Three Dreamer Manufacturing to target export markets across the continent, noting that a focus on exports would benefit individual companies while stabilizing the national economy through increased foreign exchange earnings. In his concluding remarks, the President commended the young workforce at the factory for their dedication and urged them to maintain a collaborative relationship with their employers. He emphasized that business growth and expansion are dependent on mutual cooperation between labor and management. Mahama reiterated the government’s commitment to providing a stable economic environment and the necessary support required for the private sector to lead Ghana’s industrial transformation and create sustainable jobs.

Edith Akosah Wheatland donates GH₵100,000 for female farmer award
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Edith Akosah Wheatland donates GH₵100,000 for female farmer award

Mrs. Edith Akosah Wheatland, the Founder and Chief Executive Officer of Rockland Farms, has donated GH₵100,000 to support the National Best Female Farmer award category for the 2026 Farmers’ Day celebration. The donation was formally presented to the Minister of Food and Agriculture, Eric Opoku, at a brief ceremony. This contribution is intended to bolster the recognition of women's achievements in the agricultural sector and provide tangible rewards for excellence in farming during the national event scheduled for December 4, 2026. Highlighting the critical role women play in the industry, Mrs. Wheatland stated that increased support for female agribusiness owners is a prerequisite for achieving long-term national food security. She noted that empowering women farmers creates a ripple effect that strengthens both family units and rural communities. By funding this award, Rockland Farms aims to showcase the viability of agriculture as a profession for women and inspire more female entrepreneurs to invest in the country's agricultural value chain. Minister Eric Opoku praised the initiative, describing it as a vital contribution to women’s empowerment in agribusiness. He confirmed that the GH₵100,000 would directly benefit the 2026 award winner and emphasized the government's commitment to creating an enabling environment for all farmers. The Minister concluded by urging other private sector stakeholders to follow Mrs. Wheatland’s example in celebrating and supporting the individuals who sustain Ghana’s food systems.

Telecel, Black Sherif join forces for Project X
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Telecel Ghana signs Black Sherif for Project X initiative

Telecel Ghana has officially unveiled award-winning musician Black Sherif as its brand partner for a new initiative titled Project X. Launched at an event in Accra, the collaboration aims to deepen digital financial inclusion by providing customers with exclusive experiences and rewards through the Telecel Play App. This partnership represents a strategic move by the telecommunications giant to leverage the artist's influence among the Ghanaian youth to promote modern financial services. Central to Project X are the "BlackoCodes," unique identifiers that Black Sherif will share during his online engagements and social media interactions. Customers can redeem these codes on the Telecel Play App to access a range of incentives, including free transactions, exclusive discounts, and various digital rewards. By integrating these features into the app, Telecel seeks to incentivize the use of its mobile financial services while making digital transactions more engaging and rewarding for its subscriber base. Speaking at the launch, Telecel Ghana Chief Executive Officer, Ing. Patricia Obo-Nai, highlighted the synergy between the brand and the musician. She described Black Sherif as a symbol of inspiration and resilience, noting that the partnership reflects Telecel’s commitment to delivering meaningful and innovative customer experiences. Black Sherif expressed enthusiasm for the project, stating that the collaboration focuses on delivering value to his fans while promoting the adoption of safer and more efficient digital transaction methods across the country. The Project X initiative is expected to play a significant role in accelerating digital financial literacy and inclusion in Ghana. By merging entertainment with financial technology, Telecel Ghana aims to create a more inclusive digital economy that resonates with the lifestyle of the younger generation. The partnership underscores a growing trend of corporate entities collaborating with creative icons to bridge the gap between technology and consumer lifestyle.

UBA Ghana leads banking sector with 2.1% non-performing loan ratio
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UBA Ghana leads banking sector with 2.1% non-performing loan ratio

UBA Ghana has emerged as the leader in asset quality among Ghanaian banks, recording a non-performing loan (NPL) ratio of just 2.1% for the 2025 financial year. This performance stands in stark contrast to state-owned institutions like the Agricultural Development Bank (ADB) and National Investment Bank (NIB), which are grappling with NPL ratios nearing 70%. The data, released in the Ghana Association of Banks’ latest financial statements, highlights a significant disparity in credit-risk management across the industry. Despite significant government support and recent recapitalization efforts, ADB and NIB continue to face severe credit stress. ADB reported an NPL ratio of 70.5%, while NIB’s ratio stood at 69.7%. These figures persist even as both banks recorded healthy profits following state intervention, with ADB posting GH₵367.2 million and NIB reporting GH₵343.9 million. This disconnect between high profitability and poor asset quality has sparked concerns regarding the long-term sustainability of the sector’s recovery and the potential for future taxpayer-funded rescues. The industry-wide recovery remains uneven, with some banks seeing sharp increases in impaired credits despite maintaining relatively low NPL ratios. A specific challenge cited in the financial reports is the delay in salary deductions intended for loan repayments. This bottleneck threatens to restrict new lending to public sector employees, as banks become increasingly wary of administrative delays that hinder their ability to recover debts and maintain liquidity. The high NPL ratios at state-owned banks have intensified calls for transparency and accountability regarding past lending decisions and political influences. Analysts argue that while financial injections have stabilized bank operations, they do not resolve underlying governance issues. There is a growing demand for a public framework that ties future government support to measurable outcomes in loan recovery and improved credit-risk management to ensure the overall stability of the national financial system.

The official logo of The Ghana Chamber of Mines set against a solid white background. The logo includes a graphic emblem with a mining rig and a silhouette of a miner, accompanied by the organization's name in bold black typography.
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Ghana Chamber of Mines requests Reuters clarify mining bill report

The Ghana Chamber of Mines (GCM) has formally requested a clarification from Reuters regarding a news report on the proposed Minerals and Mining Bill, 2026. The Chamber asserts that the international news agency’s coverage contained inaccuracies concerning the state's "special share" rights and the proposed duration of mining leases. According to the industry body, these distinctions are critical for public understanding and for maintaining investor confidence in Ghana's mining sector. Central to the Chamber's grievance is the report's characterization of the special-share provision. The GCM clarified that the power mentioned in the report, which allegedly introduced new rights for the state over corporate transactions, is already established under the existing Minerals and Mining Act, 2006 (Act 703). The Chamber emphasized that this provision does not grant the government voting rights but instead confers specific consent rights over major transactions, a nuance they believe was misrepresented in the Reuters report. Furthermore, the Chamber pointed out significant inconsistencies regarding the duration of mining leases as presented in the news coverage. While the draft Minerals and Mining Bill, 2026, specifically prescribes a 15-year term for leases, a subsequent government policy statement had indicated a maximum duration of 20 years. The GCM noted that the Reuters report failed to reconcile these two figures, potentially creating confusion about the actual legal requirements currently under consideration by the legislature. In its call for more precise reporting, the Ghana Chamber of Mines stressed that accurate media representation of existing laws and proposed legislation is vital for the industry. The Chamber remains focused on ensuring that the final version of the 2026 Bill provides a stable and predictable framework for mining operations. As the legislative process continues, the GCM intends to work closely with both the government and the media to ensure the facts surrounding mining reforms are communicated clearly to all stakeholders.

Justice Paul Baffoe-Bonnie — Chief Justice
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Paul Baffoe-Bonnie urges judiciary to prioritize business rescue

Chief Justice Paul Baffoe-Bonnie has called on the judiciary and insolvency practitioners to treat the liquidation of distressed businesses as a last resort, emphasizing the need to rescue viable firms to safeguard the economy. Speaking at an induction ceremony for the Chartered Institute of Restructuring and Insolvency Practitioners (CIRIP) Ghana, the Chief Justice stressed that the primary objective should be the rehabilitation of companies facing financial challenges rather than their immediate dissolution. He noted that saving such entities is critical for protecting jobs and preserving capital investments. The Chief Justice highlighted the Corporate Insolvency and Restructuring Act, 2020, as a transformative legal framework that shifts the focus from liquidation to the potential recovery of distressed firms. He urged practitioners to use sound judgment and maintain high integrity when assessing the viability of businesses. According to Justice Baffoe-Bonnie, the legal system must support a regime where businesses with recovery potential are given the necessary room to survive, as the broader economic implications of company failures are often devastating for families and the national treasury. The ceremony also marked the 20th anniversary of CIRIP Ghana, reflecting on the institute's efforts to professionalize the insolvency field in the country. Felix Addo, President of CIRIP Ghana, reiterated the institute's commitment to continuous professional development to ensure that practitioners are equipped with the skills required to navigate complex corporate distress. The call by the Chief Justice signals a reinforced judicial commitment to industrial stability, encouraging a culture where financial distress is managed through restructuring rather than total closure.

A man and a woman share a professional handshake in front of a media backdrop featuring various organizational logos. Both are dressed in formal business attire and are smiling toward the camera during what appears to be a ceremonial or corporate event.
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UK-Ghana Chamber of Commerce launches Trade Resource Centre

The UK-Ghana Chamber of Commerce (UKGCC) has launched the UK-Ghana Trade Resource Centre, a new initiative designed to strengthen bilateral economic ties and streamline trade processes between the two nations. Developed in partnership with the UK-Ghana Jobs and Economic Transformation (JET) Programme, the centre arrives at a pivotal moment as bilateral trade reached approximately £1.6 billion in the first quarter of 2026. The launch follows discussions held during the UK-Ghana Trade & Investment Summit 2026, highlighting a renewed commitment to expanding commercial cooperation. The newly established platform serves as a comprehensive hub for market intelligence, aimed at helping businesses navigate complex export requirements and identify untapped market opportunities. It is specifically tailored to assist Ghanaian exporters looking to penetrate the UK market, while simultaneously providing vital data for UK importers seeking high-quality Ghanaian goods. By bridging information gaps that often hinder small and medium-sized enterprises, the centre intends to connect businesses across borders more efficiently than before. This initiative is expected to play a significant role in driving economic transformation by fostering sustainable growth and job creation within both economies. Beyond providing technical guidance on trade regulations, the centre will offer resources that help businesses understand market trends and consumer demands in real-time. Stakeholders believe that by reducing the barriers to entry for international trade, the Trade Resource Centre will unlock millions in potential revenue that had previously remained inaccessible due to a lack of clear market information. As the UK and Ghana continue to build on their historical trade relationship, the Resource Centre stands as a practical tool for translating diplomatic and investment agreements into tangible business outcomes. The UKGCC and the JET Programme have indicated that the platform will be regularly updated to reflect evolving trade policies and market dynamics. This proactive approach aims to ensure that the £1.6 billion trade milestone is not just maintained but exceeded through more inclusive and informed participation from the private sector.

Simon Madjie restricts foreign investors from informal retail sector
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Simon Madjie restricts foreign investors from informal retail sector

The Chief Executive Officer of the Ghana Investment Promotion Authority (GIPA), Simon Madjie, has reaffirmed that Ghana's informal retail sector remains strictly reserved for Ghanaian citizens. Speaking in a recent interview, Madjie emphasized that the government will not relax its investment regulations or bend national rules to accommodate foreign participation in this space. He clarified that even substantial financial backing does not grant international investors the right to operate within the informal retail market, as the state remains committed to protecting indigenous business interests. Madjie highlighted a critical distinction between trade and investment, noting that while Ghana is eager to attract foreign capital to drive economic growth, such interests must comply with local laws. He rejected suggestions that the country should lower its standards to attract more foreign players into restricted sectors. Instead, the GIPA head advocated for fostering legitimate partnerships between foreign entities and local businesses that respect the boundaries of the law, ensuring a balanced approach to national development. Identifying enforcement as the primary challenge facing the sector, Madjie proposed the establishment of government-built "model markets" as a solution. He explained that these structured facilities would allow for better regulation and oversight of commercial activities, making it easier to identify and prevent foreign encroachment. By creating a more formalised environment for retail, the government aims to ensure that the rules governing the sector are practical to monitor and enforce on a daily basis. To ensure the success of these regulatory efforts, the GIPA CEO called for improved coordination among the various government agencies tasked with managing Ghana’s markets. He maintained that a unified front is essential for tackling the long-standing issues of non-compliance and ensuring that all businesses, regardless of their origin, adhere to national regulations. This focus on structured markets and inter-agency collaboration is intended to provide a transparent and lawful environment that safeguards the livelihoods of local traders while maintaining Ghana's reputation as a regulated investment destination.

GRA summons Jamila Home management over alleged assault of revenue officer
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GRA summons Jamila Home management over alleged assault of officer

The Ghana Revenue Authority (GRA) has officially summoned the management of Jamila Home following an alleged assault on a revenue officer during a tax compliance monitoring exercise in Accra. The incident occurred on October 7, 2026, when GRA officials were reportedly denied entry to the company's showroom, leading to a physical confrontation between staff and the revenue team. Assistant Commissioner Joseph Adjeikwei Annan reported that the confrontation resulted in an assault on one officer and damage to another official's mobile phone. The matter has been referred to the Criminal Investigations Department (CID) of the Ghana Police Service, which has already taken statements from the affected GRA officers. Assistant Commissioner Annan emphasized that the authority takes such incidents seriously, warning that obstructing or physically attacking revenue officers in the line of duty can lead to significant legal penalties. Defending the company, Economic Advisor Hillarius McCash stated that Jamila Home is committed to tax compliance and follows a business model that adheres to national regulations. While acknowledging the altercation, McCash indicated that the management is willing to cooperate fully with the GRA to clarify the circumstances of the event and resolve the dispute. The CID is expected to gather formal statements from Jamila Home management in the coming days to complete its investigation. The GRA continues to urge businesses to facilitate the work of its compliance teams to avoid unnecessary legal friction, as the authority intensifies its efforts to ensure revenue targets are met through nationwide enforcement exercises.

Bank of Ghana warns against repairing damaged Cedi notes with glue
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Bank of Ghana warns against repairing damaged Cedi notes with glue

The Bank of Ghana (BoG) has issued a stern warning to the public against the practice of using adhesive tape or glue to repair torn Cedi banknotes. This directive comes in response to a viral social media video depicting individuals attempting to patch damaged currency using these materials. The central bank emphasized that such actions compromise the integrity of the national currency and render the notes unfit for general circulation. According to the BoG, the use of foreign substances like tape or glue on banknotes poses significant risks to the country's financial infrastructure. These improperly repaired notes can cause malfunctions or permanent damage to Automated Teller Machines (ATMs) and high-speed currency processing machines used by financial institutions. Beyond technical issues, mutilated notes often lose their security features and aesthetic standards required for legitimate tender, complicating transactions for businesses and consumers alike. Instead of attempting self-repairs, the central bank advises citizens to follow established legal channels for handling damaged currency. Individuals holding torn or worn-out banknotes should present them to their respective commercial banks for replacement. The BoG clarified that for a note to be eligible for exchange or examination, more than half of the original banknote must be intact. This policy ensures that the public can maintain the value of their money while allowing the central bank to withdraw unfit notes from the economy systematically. The BoG further urged the public to be vigilant and report any individuals or groups engaged in the improper repair or manipulation of currency to the relevant authorities. By discouraging these practices, the central bank aims to preserve the longevity of the Cedi and reduce the significant costs associated with frequent currency reprinting and machine maintenance. Maintaining the quality of the Cedi is presented as a collective responsibility to ensure the smooth operation of Ghana's payment systems.