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.

President Mahama to cut sod for 2000-bay Accra Airport car park and hotel
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Finance Minister Ato Forson Announces 1,200MW Gas Plant as Ghana Accelerates Energy and Infrastructure Expansion

Finance Minister Dr. Cassiel Ato Forson has unveiled plans for a 1,200-megawatt state-owned gas-fired power plant, the largest energy project since the construction of the Akosombo Hydroelectric Power Station. Announced at the Future of Energy Conference 2026, the project is a cornerstone of President John Mahama’s administration’s strategy to provide reliable and affordable electricity for industrial transformation. This initiative comes as the government ramps up efforts to bridge Africa’s energy financing gap and address the needs of the 600 million people on the continent who still lack electricity. To further bolster energy security, the government has opened negotiations with Brazilian oil giant Petrobras for exploration in four offshore blocks within the Accra-Keta Basin. According to Victoria Emeafa Hardcastle, CEO of the Petroleum Commission, this partnership aims to reverse declining crude oil production and restore investor confidence through regulatory clarity. Complementing these efforts, the Ghana National Gas Company (GNGC) is reinvesting profits into a new Takoradi-Tema pipeline. These developments are critical, as World Bank Division Director Robert R. Taliercio warned that delays in energy sector recovery programs are currently costing Ghana approximately $1 billion annually, exerting significant pressure on public finances. In the transport sector, President John Mahama is set to cut sod for a multi-million dollar infrastructure project at Accra International Airport on August 27, 2026. The development features a seven-storey car park with over 2,000 bays, two hotels, and a shopping mall, funded through an airport development charge implemented earlier in 2026. However, the World Bank’s Tenth Ghana Economic Update highlights significant challenges elsewhere; only 27% of Ghana’s 94,200-kilometer road network is paved, and the operational rail network has dwindled from 947 kilometers in 1960 to just 160 kilometers in 2020. To combat this, the World Bank is supporting a $500 million project to rehabilitate over 1,000 kilometers of feeder roads to improve agricultural productivity. Amidst high utility costs, the Association of Ghana Industries (AGI) is advocating for increased solar adoption through the new BisaConnect Platform. AGI CEO Seth Twum-Akwaboah noted that high electricity prices are undermining business competitiveness, and the platform will help companies navigate the technical and financial hurdles of renewable energy. On the ground, projects like the Adenta-Dodowa road expansion by Oswal Investments are utilizing innovative pavement blocks to handle heavy traffic and prevent rutting, demonstrating a shift toward higher-quality infrastructure under the government’s "Big Push" initiative. While Ghana recorded a strong economic growth rate of 6% in 2025 and a decline in public debt, the World Bank emphasizes that sustained structural reforms and effective maintenance are essential. Financing for these large-scale energy and transport projects will require innovative public-private partnerships to bridge the regional financing gap. The successful integration of these initiatives—from the 1,200MW plant to the revitalized rail network—will be the determining factor in whether Ghana can maintain its fiscal gains and achieve its long-term industrial ambitions.

World Bank Urges Structural Reforms as Ghana's 6% Economic Growth Fails to Lower 56.4% Poverty Rate
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World Bank Urges Structural Reforms as Ghana's 6% Economic Growth Fails to Lower 56.4% Poverty Rate

The World Bank’s Tenth Ghana Economic Update has revealed a stark contrast between Ghana’s macroeconomic recovery and the living conditions of its citizens. While the nation’s economy grew by a robust 6.0% in 2025, outperforming initial IMF expectations, the report highlights that 56.4% of Ghanaians continue to live in poverty. Dr. Robert Taliercio O’Brien, the World Bank’s Division Director for Ghana, warned that the current recovery remains "structurally incomplete," as the gains from high-growth sectors fail to reach the broader population or provide sufficient opportunities for the country’s burgeoning youth workforce. Despite the drop in inflation from 23.2% to approximately 3.2% earlier this year, structural imbalances persist, leaving a significant portion of the population outside the formal economic system. On the fiscal front, Ghana has achieved several significant milestones under its ongoing reform program. Public debt saw a dramatic decline from 70.3% of GDP in 2024 to 49% by the end of 2025. Additionally, the government recorded a primary fiscal surplus of 2.5% of GDP, comfortably surpassing the 1.5% target. However, the World Bank cautioned that this surplus was driven largely by substantial spending cuts, including a 38% reduction in capital expenditure. Experts argue that while these cuts provided short-term fiscal relief, a long-term reliance on reducing infrastructure investment could eventually stifle national development and undermine the very growth the government seeks to sustain. Domestic vulnerabilities in the energy and agricultural sectors continue to pose significant risks to the economic outlook. The World Bank reported that delays in energy sector recovery programs are costing the state approximately $1 billion annually. Furthermore, financial inefficiencies within the Ghana Cocoa Board (COCOBOD) have been flagged as a major fiscal risk. The bank is calling for far-reaching reforms to the COCOBOD Act to introduce market-based principles and protect public finances. External factors, including prolonged tensions in the Middle East and volatility in gold and cocoa prices, further threaten to disrupt global trade and increase production costs, potentially reversing the recent inflationary gains. To bridge the gap between economic growth and poverty reduction, the World Bank is advocating for urgent reforms in the transport and manufacturing sectors. The report recommends six key transport reforms to enhance productivity and connectivity, supported by a $500 million World Bank investment in feeder roads to bolster agricultural supply chains. Finance Minister Dr. Cassiel Ato Baah Forson has affirmed the government’s commitment to these structural reforms and ongoing collaboration with international partners. The path forward will require maintaining fiscal discipline while shifting focus toward job-rich growth and export diversification to build a more resilient and inclusive economy for all Ghanaians.

Dr Cassiel Ato Forson (2nd from left), Minister of Finance, welcoming Zhang Li (2nd from right), China's Assistant Minister for Commerce, to the meeting. Looking on is Thomas Nyarko Ampem (left), Deputy Minister of Finance
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Finance Minister Ato Forson Signals Shift to Disciplined Debt Management and Value-Added Trade

Ghana’s Minister for Finance, Dr. Cassiel Ato Forson, has announced a more disciplined approach to national development financing, asserting that the government will no longer borrow simply because funds are available. Speaking at the Fifth Session of the Ghana–China Joint Commission on Economic, Trade and Technical Cooperation, Dr. Forson emphasized that future loans will be reserved for projects that are economically justified, transparently procured, and capable of driving productivity or job creation. This strategic shift aims to maintain debt sustainability and avoid the recurrence of past economic crises. Simultaneously, Dr. Forson called for a transformation in trade relations with China, pushing for a move from raw material exports toward local value addition and processing, particularly in the cocoa sector, as imports from China reached GH¢57.6 billion in 2025. Adding weight to the call for structural change, economist Professor Godfred Bokpin and the IMANI Centre for Policy and Education have urged the government to reduce its heavy reliance on natural resource exports. During the 2026 Students and Young Professionals African Leadership Academy, Professor Bokpin argued that sustainable development can only be achieved by transitioning to an economy rooted in innovation, ideas, and digitization. IMANI President Franklin Cudjoe echoed these sentiments, criticizing policy inconsistencies that hinder economic resilience and advocating for homegrown strategies that prioritize evidence-based policymaking and tax incentives for startups to tackle rising unemployment. Despite discussions of economic growth and slowing inflation, organized labor has raised concerns regarding the actual cost of living for citizens. Dr. Kwabena Nyarko Otoo, Deputy General Secretary of the Trades Union Congress (TUC), cautioned that a declining inflation rate does not mean a fall in the prices of goods and services. He clarified that while the rate of price increases has slowed over the past 18 months, the absolute cost of essentials remains high, creating a persistent gap between income growth and household expenses. This sentiment was mirrored at the Risk Summit 2026, where Stanbic Bank President Barbara Dede Ama Okai-Tettey urged institutions to look beyond simple risk compliance and focus on proactive resilience and cultural shifts to navigate global economic uncertainties. Looking toward the future, the National Emerging Leaders Economic Forum (NELEF) 2026 is advocating for measurable results in youth empowerment and digital transformation. Founder Daniel Asomani has challenged leaders to provide clear timelines for job creation and supported calls to lower the presidential age requirement to 35 to ensure younger voices are represented in governance. In the private sector, the Advertising Association of Ghana (AAG) is also embracing change, with President Andrew Ackah highlighting at the 18th Gong Gong Awards that AI must be leveraged to enhance rather than replace human creativity. As the nation navigates these transitions, the Ministry of Foreign Affairs is working to resolve technical disruptions to the online passport application platform, highlighting the ongoing need for robust digital infrastructure to support Ghana’s evolving economic landscape.

Dr James Condua Orleans-Lindsay (right), President, Ghana Real Estate Developers Association, addressing the meeting. Picture: ERNEST KODZI
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Ghana’s Investment Inflows Surge to $2.62bn Amid T-Bill Oversubscription and Strong Banking Sector Growth

Ghana’s economic landscape under the administration of President John Mahama is showing signs of a significant rebound in investor confidence, evidenced by a massive surge in Foreign Direct Investment (FDI) and robust performance in the banking sector. In 2025, FDI inflows jumped to $2.62 billion, representing a sharp recovery from the $649.58 million recorded in 2023. This growth was driven by 254 new investment projects, primarily in the manufacturing, energy, and technology sectors, which are projected to create over 18,700 jobs for Ghanaians. The banking industry has mirrored this positive trend, with GCB Bank PLC emerging as the industry leader for the 2025 financial year, ranking first in deposits, loans, and total operating income while reporting a return on equity of 34%. While long-term investment interest is rising, the domestic debt market is currently dominated by short-term government securities. In August 2026, the government’s treasury bill auction saw a massive oversubscription of more than 180%, with total bids reaching GH""14.27 billion against a target of GH""5.43 billion. Investors have shown a distinct preference for the 364-day Treasury Bill, which accounted for approximately 70% of all bids and offered a weighted average interest rate of 11.59%. In contrast, the secondary bond market has seen activity weaken significantly, with turnover dropping by over 58% as investors defer reinvestment until the settlement of coupons from the Domestic Debt Exchange Programme (DDEP). Despite these growth indicators, several sectors continue to grapple with liquidity constraints and high operational costs. The Ghana Mineworkers’ Union (GMWU) has recently petitioned the Bank of Ghana to facilitate the release of GH""380 million in locked-up provident funds, which has left over 19,000 workers and retirees in financial distress. Simultaneously, the Ghana Real Estate Developers Association (GREDA) has urged the government to abolish the 20% Value Added Tax (VAT) on housing construction. GREDA warns that the tax is exacerbating the national housing deficit and threatening the financial viability of developers who are already struggling with high material and financing costs. Adding to these internal pressures, the Ghanaian Cedi remains under pressure in the foreign exchange market. As of late August 2026, the Cedi was trading at approximately GHS12.20 for sales at forex bureaus and GHS11.13 on the Bank of Ghana interbank market. While the manufacturing and upstream petroleum sectors continue to attract substantial capital, the government faces the dual challenge of maintaining currency stability and addressing the legacy financial sector issues raised by organized labor and industry associations to ensure that economic growth remains inclusive and sustainable.

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Global Energy Markets Cool Amid Strait of Hormuz Diplomacy as SpaceX and Dangote Refinery Drive Major Industry Shifts

Global oil prices have retreated by approximately 2%, with Brent crude falling toward $86.80 and West Texas Intermediate settling near $80.87. This downward trend is largely attributed to renewed diplomatic discussions between Iran and Oman aimed at establishing a temporary navigational corridor through the Strait of Hormuz, a critical chokepoint for global energy supplies. While the market remains volatile due to expanded U.S. sanctions targeting Tehran, analysts suggest that the potential for eased navigation has temporarily outweighed supply concerns, even as U.S. crude inventories unexpectedly rose by 4.2 million barrels and domestic reserves hit their lowest levels since 1982. In the broader trade landscape, tensions have escalated significantly between North American allies. Canada has announced "dollar-for-dollar" retaliatory tariffs of up to 50% on roughly C$28 billion of U.S. goods, including steel and consumer products, following a breakdown in trade negotiations with the Trump administration. This protectionist shift in the West contrasts sharply with developments in East Africa, where Kenya has secured zero-tariff access to the Chinese market. Kenyan Trade official Regina Ombam noted that this strategic partnership is designed to boost agricultural exports like avocados and tea, positioning Kenya as a pivotal gateway for investment within the African continent. Corporate giants are also navigating a period of massive expansion and legal restructuring. Elon Musk’s SpaceX has announced plans for a $100 billion launch facility in Louisiana, a project expected to create over 11,000 direct and indirect jobs and facilitate thousands of Starship flights annually by 2029. This comes as financial disclosures reveal that President Trump holds a personal investment in SpaceX, managed by third-party institutions. Meanwhile, Meta Platforms is reportedly in mid-trial settlement talks with 29 U.S. states over allegations that Facebook and Instagram were designed to be addictive to minors, potentially concluding a major legal challenge to the company's consumer protection practices. Within the African energy sector, the Dangote refinery has emerged as a transformative force, driving a seven-fold increase in Nigeria's seaborne petroleum product exports since 2023. According to the U.S. Energy Information Administration, the refinery's ramped-up production has significantly altered regional fuel trade flows, increasing supplies across Africa and into Europe. As Morgan Stanley adjusts its Brent crude forecasts toward a peak of $100 per barrel later this year, the interplay between Nigerian production surges and Middle Eastern geopolitical maneuvers will remain central to global market stability.

Youth Employment Agency setting up EV 'bike' delivery brigade
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Ghana Standards Authority and Energy Ministry Launch Comprehensive Reforms to Regulate Vehicle Imports and Expand EV Infrastructure

Ghana’s automotive landscape is undergoing a significant transformation as the government introduces stricter importation controls and accelerates the adoption of electric vehicles (EVs). Starting October 1, the Ghana Standards Authority (GSA) is implementing a robust Pre-Shipment Inspection and Vehicle Age Verification (PVoC) program to ensure all imported used vehicles meet safety and environmental standards. This move coincides with a nationwide push toward green mobility, exemplified by the Youth Employment Agency’s (YEA) launch of a 10,000-member EV Delivery Brigade and the entry of major international manufacturers like the Guangzhou Automobile Group (GAC) into the local market. The GSA’s new regime specifically targets the importation of substandard vehicles, which currently account for a vast majority of the four million cars on Ghanaian roads. Under the new rules, every vehicle must obtain a conformity certificate at its point of origin. While the GSA initially considered a 10-year age limit, stakeholder consultations led to a revised threshold of 15 years to balance safety with economic reality. To further enhance security, the Authority is launching the Vehicle Dealership Information System (VEDIS) to track stolen vehicles and improve traceability. GSA officials, including Director-General Professor George Agyei, emphasized that these reforms are essential for protecting consumers from fraud and ensuring the long-term reliability of the national fleet. Parallel to these regulatory updates, the government is preparing for a surge in electric mobility. Dr. John Abdulai Jinapor, the Minister for Energy and Green Transition, recently underscored the urgent need for standardized charging infrastructure to protect the national power grid. Speaking at the Future of Energy Conference, Dr. Jinapor warned that uncoordinated charging stations could strain local distribution networks. Consequently, the Energy Commission now requires prior approval for establishing EV charging stations to ensure compliance with safety and operational standards. This infrastructure is vital for initiatives like the YEA’s Delivery Brigade, which plans to deploy over 10,000 electric bikes across all 16 regions, creating jobs in repairs, maintenance, and battery swapping. The private sector is also responding to this shift, with FET Auto Company Limited recently launching a full range of GAC vehicles in Ghana, including flagship SUVs and the AION electric series. However, as Ghana embraces these new technologies, global safety trends provide a cautionary note. Recent recalls in China affecting nearly three million Teslas and other EVs due to faulty door handle designs highlight the importance of the GSA’s rigorous standards. By integrating global safety lessons with local industrialization goals, Ghana aims to build a modern, sustainable automotive ecosystem that drives economic growth while ensuring public safety.

Gold Fields Flags Ghana License Risks Amid $6 Billion Investment Proposal and Regional Mining Shifts
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Gold Fields Flags Ghana License Risks Amid $6 Billion Investment Proposal and Regional Mining Shifts

Gold Fields Limited has raised concerns over the future of its operations in Ghana, citing significant valuation risks due to delays in the renewal of its Tarkwa mine lease. Despite an 81% surge in half-year profits for 2026—driven by record-high gold prices and a total output of 1.267 million ounces—the company’s CEO, Mike Fraser, warned that the lack of a formal response from the Ghanaian government regarding their renewal application is causing the firm to trade at a discount compared to its peers. Gold Fields, which contributes 192,000 ounces of gold annually from the Tarkwa site, has submitted a proposal for a 25-year extension that includes a projected $6 billion investment. However, with the current lease set to expire in April 2027, the company is now evaluating all options, including potential legal action, to protect its assets. The tension over the Tarkwa lease comes at a time when Gold Fields is already navigating complex legal and diplomatic waters. The company is currently embroiled in an arbitration dispute with Engineers & Planners over a $60 million bank guarantee related to mining services. Furthermore, CEO Mike Fraser noted that recent xenophobic incidents in South Africa have added a layer of complexity to negotiations with Ghanaian officials. While the Ghanaian government has denied any intentional delays, stating that the company must first submit detailed development plans for review, the company remains firm in its demand for fair treatment and a clear path forward for its multi-billion dollar investment strategy. Parallel to these mining sector challenges, other areas of Ghana’s industrial landscape are seeking greater recognition and expansion. Western Rod and Wire Limited has called on the government and the Ghana Integrated Aluminium Development Corporation (GIADEC) to acknowledge the contributions of existing local manufacturers. Having produced aluminium wire rods since 2005, the company argues that its capacity to meet the needs of the local electrical cable industry should be a cornerstone of Ghana’s integrated aluminium strategy. Simultaneously, the energy sector is seeing fresh momentum as the Ministry of Energy and Green Transition approved Petrobras to negotiate exploration contracts for four offshore blocks in the Keta Basin, signaling a potential boom in Ghana's oil and gas reserves. Across the border, the Nigerian Federal Government is similarly refocusing its mineral strategy to ensure long-term economic stability. Minister of Solid Minerals Development, Dele Alake, has emphasized attracting investment while strictly curbing the export of raw ores to promote local value addition. This shift follows warnings from geophysicists that Nigeria risks having to import minerals it currently produces if strategic deposits are not conserved and managed through better geoscientific data. Collectively, these developments across West Africa reflect a broader regional trend of governments and multinational corporations renegotiating the terms of resource extraction to prioritize national industrialization and long-term economic sovereignty.

Fidelity Bank Renovates Police Training School as First National Bank Champions Financial Inclusion for PWDs
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Fidelity Bank Renovates Police Training School as First National Bank Champions Financial Inclusion for PWDs

Ghana’s banking sector has demonstrated a renewed commitment to national development and social equity through significant investments in law enforcement infrastructure and financial literacy. In the Upper East Region, Fidelity Bank Ghana has successfully completed and handed over a fully renovated Multipurpose Auditorium to the Police Public Safety Training School (PPSTS) in Pwalugu. Simultaneously, in Accra, First National Bank Ghana has launched a pioneering financial literacy program specifically designed for Persons with Disabilities (PWDs), signaling a dual focus on national security and social inclusion across the industry. The renovation of the PPSTS auditorium in Pwalugu marks a milestone in a decade-long partnership between Fidelity Bank and the Ghana Police Service. During the handover ceremony, Harold Ansah, representing Fidelity Bank, emphasized that providing quality training spaces is essential for law enforcement personnel to perform their duties effectively. This infrastructure upgrade follows a series of previous contributions by the bank, including the construction of a mechanized borehole, upgraded kitchen facilities, and the provision of essential equipment. Assistant Commissioner of Police Dr. Wilson Aniagyei expressed profound gratitude for the support, noting that such well-equipped facilities are vital for maintaining public safety and institutional excellence. Parallel to these infrastructure efforts, First National Bank partnered with the Ghana Federation of Disability Organisations (GFD) to address barriers in the financial sector. The bank’s Financial Literacy Training Programme in Accra equipped over 40 participants with critical knowledge through modules such as "Understanding My Money" and "Growing My Money." Akweley Laryea, Head of Retail Banking at First National Bank, stated that the initiative aims to empower every individual to make informed financial decisions regardless of physical ability. To ensure the sustainability of this inclusion, the bank also conducted specialized disability awareness training for its own staff to improve service delivery for customers with special needs. These combined efforts reflect a strategic shift among Ghanaian financial institutions toward Corporate Social Responsibility (CSR) that addresses both structural and systemic needs. While Fidelity’s investment in Pwalugu strengthens the operational capacity of the state's security apparatus, First National Bank’s collaboration with the GFD seeks to bridge the gap in financial accessibility. Both initiatives highlight how the private sector is increasingly taking on roles that support government efforts in capacity building and social welfare, ensuring that both the protectors of the nation and its most vulnerable citizens are better equipped for the future.

MTN Group Signals Strategic Shift with Banking License Pursuits and $375 Million Share Buyback
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MTN Group Signals Strategic Shift with Banking License Pursuits and $375 Million Share Buyback

MTN Group, Africa's largest telecommunications operator, has announced a significant strategic pivot toward becoming a full-scale financial services provider by exploring banking licenses in select markets. Group CEO Ralph Mupita revealed that the company aims to move beyond its traditional role of facilitating loans through bank partnerships toward direct balance-sheet lending. This shift is designed to capitalize on MTN’s vast mobile money ecosystem and growing wallet floats, allowing the company to capture a larger share of the burgeoning fintech market across the continent. This evolution comes alongside a strong financial performance, with the group approving a 6 billion rand ($375 million) share buyback program following a robust 21.3% increase in half-year adjusted profits. Despite the positive profit trajectory, the company’s reported headline earnings per share (HEPS) saw a slight 5.8% decline, primarily due to a non-cash impairment related to its stake in Irancell. This impairment was driven by the complex economic environment in Iran, characterized by hyperinflation and international sanctions that continue to complicate MTN's exit from the market. However, the company’s core operations remain strong, with service revenue growing 17.5% to 115.3 billion rand. This growth was largely propelled by performance in key African markets, including Nigeria, Ghana, and Uganda, which remain the primary engines for the group's revenue expansion. In tandem with its financial services ambitions, MTN is aggressively investing in digital infrastructure to support future growth. The company has entered a joint venture with a UAE-backed investor to develop AI-enabled data centers in South Africa and Nigeria. This partnership targets an initial capacity of approximately 150 megawatts, aimed at meeting the soaring demand for localized data processing and digital services. Mupita emphasized that the development of this infrastructure is critical as MTN transitions into a more diverse tech-focused entity, moving away from a reliance on traditional voice and data revenue. Looking ahead, MTN's move toward acquiring banking licenses will be approached with caution and selectivity. The company plans a gradual transition to balance-sheet lending, ensuring that it adapts to the specific regulatory and market conditions of each country. By combining its new focus on direct financial services with heavy investment in AI-driven infrastructure and a commitment to returning value to shareholders through buybacks, MTN Group is positioning itself as a central player in Africa's digital and financial future. These maneuvers reflect a broader industry trend where mobile operators are increasingly challenging traditional banks for dominance in the digital economy.

Ghana Modernizes Business Landscape with New Investment Act and Virtual Asset Oversight
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Ghana Modernizes Business Landscape with New Investment Act and Virtual Asset Oversight

Ghana is undergoing a significant transformation in its investment and financial regulatory frameworks, led by the Ghana Investment Promotion Authority (GIPA) and the Bank of Ghana (BoG). Central to this shift is the implementation of the Ghana Investment Promotion Authority Act, 2026 (Act 1173), and the inauguration of the Virtual Assets Coordinating Committee (VACC). These initiatives are designed to enhance Ghana's appeal as a global investment destination while ensuring robust oversight of the burgeoning digital finance sector. GIPA has introduced substantial reforms under Act 1173, most notably the removal of general minimum capital requirements for most foreign-owned enterprises and joint ventures. This exclusion does not apply to trading enterprises, which still require a US$500,000 cash equity investment and a workforce that is at least 75% skilled Ghanaians. Manuela Adu of GIPA recently marketed these changes at Invest Fest 2026 in Atlanta, highlighting GIPA's new 24-hour support service and Ghana's role as a gateway to the African Continental Free Trade Area (AfCFTA). These efforts are already yielding results, with GIPA reporting a 56% resolution rate for investor grievances in the first half of 2026—a marked improvement from 31% in the previous year. On the regulatory front, Bank of Ghana Governor Dr. Johnson Asiama has inaugurated the VACC to manage the risks associated with virtual assets under the Virtual Assets Service Providers Act, 2025. The committee, which includes representatives from the Securities and Exchange Commission (SEC) and BoG, aims to balance innovation with financial stability and consumer protection. A practical example of this regulatory evolution is the admission of fintech firm WeWire into the SEC's regulatory sandbox to pilot the tokenisation of trade finance. This move aligns with broader capital market trends in Ghana, including the potential tokenisation of Treasury bills and bonds to deepen market liquidity. Complementing these reforms, GIPA CEO Simon Madjie and the SEC are urging Ghanaian businesses to leverage the capital market for long-term growth. The recent listing of PETROSOL Platinum Energy PLC's GHS200 million bond on the Ghana Fixed Income Market serves as a model for local enterprises seeking innovative financing. While the SEC remains cautiously optimistic about the capital market's recovery in 2026 despite global risks, the combination of improved macroeconomic conditions, proactive regulatory coordination, and streamlined investor support services positions Ghana for sustained economic expansion.

Energy Minister Jinapor Announces $500m Savings as Ghana Targets Universal Electricity Access by 2030
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Energy Minister Jinapor Announces $500m Savings as Ghana Targets Universal Electricity Access by 2030

Ghana is making significant strides toward energy self-sufficiency and industrial stability, having saved approximately $500 million in the past year through a strategic shift from imported liquid fuels to natural gas for thermal power generation. Energy Minister John Abdulai Jinapor announced these savings at the Future of Energy Conference, highlighting the government’s commitment to import substitution as a means to lower electricity costs and enhance the financial sustainability of the energy sector. This fiscal success comes as the nation nears a 90% electricity access rate, with the government targeting universal access by 2030. Minister Jinapor emphasized that reaching the remaining communities must be accompanied by improved reliability and affordability to foster nationwide industrialization. To support this growth, the Ghana National Gas Company (GNGC) is pivoting its operational focus from immediate profitability toward aggressive reinvestment in infrastructure. CEO Judith Adjobah Blay revealed plans for several expansion projects, including the construction of a third compressor to increase processing capacity and ensure operational redundancy. A key component of this drive is the development of an onshore pipeline from Takoradi to Tema, which aims to extend the reach of gas supply beyond the Western Region to major industrial hubs. The Public Utilities Regulatory Commission (PURC) has backed these investments, with Executive Secretary Dr. Shafic Suleman identifying Ghana Gas as a strategic asset essential for maintaining a stable power supply for both domestic and industrial consumers. In the private sector, the Association of Ghana Industries (AGI) has launched the "BisaConnect" digital platform to help businesses mitigate the impact of rising energy costs, which have recently surged by 40-48% for bulk customers. AGI CEO Seth Twum-Akwaboah stated that the platform will bridge the gap between local industries and solar energy consultants, facilitating energy assessments and feasibility studies. This initiative, supported by the Energy Commission and Swisscontact, reflects a long-term advocacy for renewable energy adoption to maintain industrial competitiveness. Simultaneously, the liquefied petroleum gas (LPG) sector is undergoing a technological transformation as Xpress Gas Limited partnered with Polygon (Beijing) Energy Technology Corporation to deploy AI and IoT solutions for the Cylinder Recirculation Model (CRM). This partnership aligns with the National Petroleum Authority’s goal to increase LPG access to 50% by 2030. Beyond industrial applications, the integration of renewable energy is providing critical social benefits in rural areas. The Ghana Maritime Authority (GMA), in collaboration with Humanity First Ghana, recently commissioned four solar-powered mechanized boreholes in the Wa Municipality. These facilities are designed to address chronic water scarcity, improve public sanitation, and ensure that children remain in school rather than spending hours fetching water. As Ghana moves toward its 2030 energy targets, the synergy between large-scale infrastructure projects like the Takoradi-Tema pipeline and localized solutions like solar boreholes and CRM technology highlights a multifaceted approach to national development. These efforts collectively aim to secure a resilient energy future that supports both the national economy and the quality of life for all citizens.

Augustus Goosie Tanoh — Presidential Advisor on the 24-Hour Economy and Accelerated Export Development
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President Mahama to Launch Major Airport Expansion as 24-Hour Economy Secures $5.5 Billion in Private Investment

President John Dramani Mahama is set to officially break ground on a massive multi-purpose infrastructure project at the Accra International Airport on August 27, 2026, marking a significant milestone in his administration's developmental agenda. The project, which includes a high-capacity car park and a dual-hotel complex, coincides with major updates regarding the government's flagship 24-Hour Economy and Accelerated Export Development Programme. Since its inception in July 2025, the program has successfully secured approximately $5.5 billion in project commitments from the private sector, signaling strong investor confidence in Ghana's economic shift toward round-the-clock productivity. The airport expansion is specifically designed to address chronic parking shortages that have persisted since the operational shift to Terminal 3. The development features a seven-storey structure housing over 2,000 car bays, alongside two modern hotels and a pedestrian link for seamless terminal access. Beyond logistics, the complex will serve as a commercial hub, incorporating a shopping mall, a food court, and a specialized sky lounge with an observation deck for aircraft viewing. Funded through an airport development charge introduced in April 2026, the construction is expected to be completed within 24 months, modernizing the gateway to Ghana and enhancing the travel experience for both domestic and international passengers. Complementing these physical infrastructure gains, Presidential Advisor Augustus Goosie Tanoh recently highlighted the progress of the 24-Hour Economy initiative. Speaking at a media engagement in Accra, Mr. Tanoh revealed that the $5.5 billion in commitments is largely driven by private sector participation, with the government serving as a facilitator rather than a primary financier. Notable highlights include a $1.45 billion solar project by the West African Gas Pipeline Company (WAPCo) and additional renewable energy investments ranging between $2 billion and $3 billion. These projects are central to the administration's goal of transitioning Ghana from an import-dependent nation to a self-sufficient economy. The administration anticipates that these strategic investments will create approximately 1.7 million jobs by 2028, significantly impacting the manufacturing, agricultural, and service sectors. While the 24-Hour Economy Secretariat focuses on large-scale export and industrial projects, the program is part of a broader vision to reshape the national economic framework. As construction begins at the airport and energy projects move toward implementation, the government remains focused on providing the necessary administrative and infrastructural support to ensure these private-sector-led initiatives achieve their full transformative potential.