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.

Bank of America Reaches $72.5 Million Settlement in Jeffrey Epstein Class-Action Lawsuit
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Bank of America Reaches $72.5 Million Settlement in Jeffrey Epstein Class-Action Lawsuit

Bank of America has reached a significant $72.5 million agreement to settle a class-action lawsuit involving its alleged ties to Jeffrey Epstein’s sex trafficking operations. This settlement, announced in October 2023, addresses claims that the financial institution facilitated Epstein's criminal activities by ignoring suspicious transaction patterns and red flags in exchange for profit. While the bank has stated that the settlement does not constitute an admission of liability, the payout represents a major development in the ongoing legal fallout surrounding the late financier's notorious network. The legal action was spearheaded by a woman in Florida who came forward with harrowing accounts of abuse, stating she was victimized by Epstein more than 100 times between 2011 and 2019. The lawsuit alleged that Bank of America overlooked vital information regarding Epstein's activities that should have triggered internal alarms. By settling the case, the bank aims to resolve the legal dispute and close this chapter, avoiding the uncertainties and public scrutiny of a full trial while providing a financial path forward for the victims involved in the class action. This development follows a pattern of high-profile legal actions against global banking giants linked to the Epstein case. Bank of America is the third major institution to settle such claims, joining the ranks of JP Morgan Chase and Deutsche Bank, both of which reached substantial settlements earlier. These cases collectively highlight the intense scrutiny now being placed on the global banking sector's due diligence processes, particularly regarding how institutions monitor the accounts of high-net-worth individuals involved in potential criminal enterprises. The $72.5 million settlement now awaits final judicial approval before any funds can be distributed. For the survivors of Epstein's abuse, the agreement is seen as a significant step toward justice and accountability for the financial systems that allegedly enabled his crimes. As the case moves toward its conclusion, it serves as a stark reminder to the financial industry of the potential legal and reputational consequences of failing to act on ethical and regulatory warnings.

Ghana Business Update: World Bank Bolsters Engineering Standards as ECG and GOIL Lead Infrastructure and Energy Gains
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Ghana Business Update: World Bank Bolsters Engineering Standards as ECG and GOIL Lead Infrastructure and Energy Gains

Ghana's business and infrastructure sectors are undergoing a period of strategic growth and modernization, marked by international collaborations and significant domestic investments. In Accra, the World Bank partnered with the Ghana Consulting Engineers Association (GCEA) for a specialized four-day training program on FIDIC (International Federation of Consulting Engineers) Condition of Contract management. The initiative, which drew participants from Ghana, The Gambia, Sierra Leone, Cape Verde, and Liberia, aimed to equip project implementation teams with the skills needed to deliver infrastructure projects successfully while avoiding costly litigation and delays. Facilitated by Eng. Abdelhafiz Abdelmoniem and supported by the World Bank’s Lina Tutunji, the program underscored the importance of effective contract management in regional development. Parallel to these professional development efforts, local utility infrastructure is being revitalized through major upgrades. The Electricity Company of Ghana (ECG) Accra East Region has completed the installation of approximately 40 new power distribution transformers across eight districts. This intervention is part of a larger roadmap involving over 100 projects designed to stabilize the distribution network and resolve intermittent power issues caused by overloaded equipment. While the region recently faced outages due to heavy rainstorms, ECG has deployed engineering teams to restore service and is actively upgrading hardware to ensure long-term reliability. Similarly, in Ketu North, the Municipal Assembly is making strides toward a proposed 24-hour economy market project, with consultants evaluating sites to ensure the facility meets the functional requirements for modern commercial trade. In the corporate and competitive arena, state-owned GOIL PLC has officially reclaimed its status as Ghana's leading Oil Marketing Company (OMC). CEO Edward Abambire Bawa attributed the achievement to the dedication of the workforce and a renewed focus on industry excellence, following a period where competitor Star Oil held the top position. The creative sector also saw significant recognition as Freda Kingful Abraham Cudjoe, CEO of Impakers Creative Hub, was inducted into the Corporate Ghana Hall of Fame. Recognized for her visionary leadership in branding and publishing, Cudjoe's induction at the La Palm Royal Beach Hotel highlights the increasing impact of creative entrepreneurs on the national economy. Together, these developments reflect a multi-sectoral push toward operational efficiency and market leadership across the country.

Empowering a New Generation: GEA Distributes Start-Up Kits as Shatta Wale Champions Agribusiness for Youth
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Empowering a New Generation: GEA Distributes Start-Up Kits as Shatta Wale Champions Agribusiness for Youth

In a concerted effort to tackle unemployment and foster economic independence among Ghana's youth, two major initiatives have highlighted a growing national shift toward vocational skills and agribusiness. The Ghana Enterprises Agency (GEA), in partnership with the Mastercard Foundation, recently provided essential start-up kits to 481 young entrepreneurs in the Tamale Metropolis. This institutional support aligns with a high-profile advocacy campaign by dancehall star Shatta Wale, who is urging the youth to look beyond traditional office roles and embrace the lucrative potential of the agricultural sector to secure their financial futures. The GEA distribution in Tamale, conducted under the "Business in a Box" (BizBox) initiative, equipped beneficiaries with tools for diverse trades, including rice processing, plumbing, auto mechanics, carpentry, and food processing. During the ceremony, GEA Chief Executive Officer Ms. Margaret Ansei emphasized that providing young people with employable skills and resources is a critical strategy for reducing crime and addressing urban unemployment. Local leaders, including Tamale Metropolitan Chief Executive Alhaji Adam Abubakari Takoro and Professor Seidu Alidu Mahama, praised the initiative as a vital investment in sustainable livelihoods and regional economic development, urging the youth to use the kits responsibly to grow their businesses. Complementing these institutional efforts, Shatta Wale has emerged as a vocal advocate for the "Youth in Palm Plantation Initiative." Speaking at its recent launch, the artist shared his personal investment experiences in agriculture, stressing that agribusiness offers a viable path to financial freedom and job creation. He challenged young Ghanaians to pivot away from unproductive social media distractions and instead apply discipline and focus toward strategic partnerships in farming. The initiative has already garnered significant support from traditional authorities, who have allocated land to empower youth interested in palm plantation ventures. Beyond the immediate provision of tools and land, both the GEA and private sector advocates are emphasizing long-term sustainability. The GEA has signaled its commitment to providing ongoing support through grants and loans for the BizBox beneficiaries, ensuring they have the capital necessary to scale their operations. This holistic approach to entrepreneurship—combining physical resources, vocational training, and influential mentorship—aims to build a resilient workforce capable of driving Ghana's economic growth. As the country navigates evolving economic challenges, the synergy between government-backed programs and cultural influencers marks a significant turning point in the national strategy for youth empowerment.

Ghana’s Economic Landscape: Mineral Royalties and Tax Revenues Surge Amidst Fiscal Pressures and Global Risks
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Ghana’s Economic Landscape: Mineral Royalties and Tax Revenues Surge Amidst Fiscal Pressures and Global Risks

Ghana's economic sector is witnessing a period of significant internal revenue growth contrasted by persistent fiscal challenges. The Minerals Income Investment Fund (MIIF) reported a substantial increase in mineral royalties, rising from GH¢3.91 billion in 2024 to GH¢5.43 billion in 2025. CEO Justina Nelson has indicated that this performance will serve as a benchmark for 2026, as the fund seeks to maximize national income from mineral wealth while reducing budgetary exposure. Complementing this growth, the Ghana Revenue Authority's (GRA) Ho Sector exceeded its 2025 revenue target by 16.73%, collecting GH¢82.47 million. These gains are part of a broader modernization drive by the GRA, which includes the implementation of the Integrated Tax Administration System (ITAS) and a unified 15% VAT rate to enhance transparency and investment. Despite these revenue successes, the government continues to face difficulties in the domestic debt market. For the second consecutive week, treasury bill auctions were undersubscribed by 20.14%, with the government raising GH¢3.93 billion against a GH¢4.93 billion target. Of the bids received, only GH¢3.23 billion were accepted. This liquidity squeeze is accompanied by rising interest rates across the yield curve; the 91-day bill yield has climbed to 4.81%, the 182-day bill to 6.62%, and the 364-day bill to 9.77%. The most popular instrument remains the 91-day bill, which saw GH¢2.55 billion in tenders, reflecting investor preference for shorter-term maturities in an uncertain interest rate environment. Adding to domestic pressures are external risks highlighted by the Bank of Ghana (BoG), particularly regarding the ongoing conflict in the Middle East. The central bank warned that a prolonged conflict or the closure of the Strait of Hormuz could drive global crude oil prices above US$100 per barrel, with some scenarios reaching US$150. Such a spike would significantly increase Ghana's energy import bill, deplete foreign exchange reserves, and fuel inflation. However, the BoG remains confident in the country's resilience, citing robust international reserves. Under the Ghana Accelerated National Reserves Accumulation Policy (GANRAP), the central bank projects that reserves will provide 15 months of import cover by the 2026-2028 period, offering a buffer against exchange rate volatility. Looking ahead to 2026, the government is focusing on structural reforms to sustain economic stability. The GRA has designated 2026 as the "Year of Compliance," aiming to close the VAT gap and improve the investment climate through legislative updates like the Ghana Investment Promotion Authority Bill 2025. Simultaneously, MIIF is working to clarify its operational framework and legislative amendments to foster better transparency and media relations. These combined efforts across the mining, tax, and monetary sectors are designed to create a more competitive business environment capable of enduring external shocks while driving long-term job creation and national development.

Sir Sam Jonah Outlines Strategic Roadmap to Rescue Ghana's 'Fragile' Insurance Sector Post-DDEP
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Sir Sam Jonah Outlines Strategic Roadmap to Rescue Ghana's 'Fragile' Insurance Sector Post-DDEP

Sir Sam Jonah, the Chancellor of the University of Cape Coast and a prominent business magnate, has delivered a sobering assessment of Ghana’s insurance industry, describing the impact of the Domestic Debt Exchange Programme (DDEP) as a 'big blow' that shattered the capital base of many firms. Speaking at the annual conference of the Insurance Brokers Association of Ghana (IBAG), Jonah cautioned that the sector has yet to achieve full recovery. He urged industry players to move past euphemisms and directly confront the structural vulnerabilities exposed by recent fiscal shocks, noting that many insurers suffered severe losses after over-relying on government securities that were previously considered risk-free. To navigate these challenges, Jonah proposed a comprehensive five-point strategy designed to reposition the sector for growth and global competitiveness. The plan emphasizes the urgent need to invest in professional capacity and human capital through initiatives like the Insurance Education Fund, particularly in emerging fields such as climate change and cyber risk. He also called for a shift in digital mindset, urging firms to embrace technology, artificial intelligence, and data analytics as enablers of efficiency rather than threats. Furthermore, he highlighted the critical need to expand insurance penetration, which currently sits at less than 2% of Ghana's GDP, by exploring microinsurance and mandatory insurance classes in sectors like agriculture. Beyond economic factors, Jonah raised alarms regarding what he termed a 'deeply corrosive' crisis of political interference and unethical practices within the industry. He criticized the systemic trend where insurance contracts are often awarded based on political connections rather than merit or professional standards. This practice, he warned, leads to inflated premiums and mismanaged risks, the costs of which are ultimately borne by Ghanaian taxpayers. He called for a renewed culture of integrity and strict adherence to professional ethics to restore public trust and ensure that insurance placements are handled with accountability and transparency. As the National Insurance Commission (NIC) continues to push for higher capital requirements, Jonah’s remarks underscore a pivotal moment for the industry. He concluded by expressing optimism that the sector can still serve as a pillar of economic stability if it adopts stronger capital buffers and diversified investment strategies. The path forward, according to Jonah, requires a combination of regulatory collaboration, aggressive market deepening, and an unyielding commitment to professionalism to ensure the industry's long-term resilience against future economic shocks.

Ghana Business Roundup: Professional Honors, Strategic Appointments, and Global Financial Disclosures
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Ghana Business Roundup: Professional Honors, Strategic Appointments, and Global Financial Disclosures

The Ghanaian business sector has witnessed a flurry of significant activities, marked by high-level professional recognitions, strategic appointments to state funds, and impactful corporate social responsibility initiatives. Amidst these local developments, international financial reports have also cast a spotlight on the investment portfolios of African banking titans and the fiscal challenges facing global sports entities. These events collectively underscore a period of transition and growth within the auditing, insurance, and SME sectors, while highlighting the importance of transparency and institutional support in the modern economy. In a significant move for professional leadership, Mr. Felix Tamattey, the Managing Partner of CFY Partners, was recently inducted into the Corporate Ghana Hall of Fame at its 11th annual awards ceremony held at the La Palm Royal Beach Hotel. The honor recognizes his extensive contributions to the accounting and auditing profession, where he has championed innovative business advisory services and improved working conditions. Simultaneously, the Ghana Education Trust Fund (GETFund) strengthened its governance with the swearing-in of Boatemaa Barfour-Awuah to its Board of Trustees. As the CEO of Star Assurance and President of the Ghana Insurers Association, Barfour-Awuah brings a wealth of expertise as a Chartered Insurer to the fund, following her recent election as the 12th President of the GIA. On the international front, financial transparency and investment strategies have become central themes. Reports have linked the late Dr. Herbert Wigwe, former CEO of Access Corporation Plc, to a staggering portfolio of 106 luxury properties in London. This discovery, made possible by evolving UK regulations regarding offshore ownership, ranks him as a leading foreign owner of prime real estate. In the world of sports finance, Leicester City reported a pre-tax loss of £71.1 million for the 2024-25 season, bringing their total three-year losses to over £180 million. Despite these figures exceeding standard profit and sustainability rules, the club remains optimistic about compliance through strategic infrastructure and youth development investments. Corporate entities are also deepening their social footprint, with the Insurance Brokers Association of Ghana (IBAG) taking steps to address infrastructure needs. During its 11th Annual Conference, IBAG donated a borehole and water storage tank to St. Peter’s Senior High School to mitigate a persistent campus water crisis. Meanwhile, Bolt Ghana’s "She Moves to Win 2.0" campaign has highlighted the significant demand for financial support among female entrepreneurs, attracting 1,170 applications for SME grants. Managed by the Duafe Foundation, this initiative aims to bridge the funding gap for women-led businesses, with final beneficiaries set to be announced in early 2026. These diverse developments reflect a maturing business environment in Ghana, where professional excellence is celebrated alongside a commitment to social welfare. The blend of rigorous financial scrutiny in international real estate and sports, combined with local efforts to empower SMEs and improve educational infrastructure, illustrates the multifaceted role of modern business leaders. As transparency regulations tighten globally and corporate social responsibility becomes more targeted, the focus remains on building resilient institutions that can navigate both socio-political changes and economic shifts.

Ghana and Regional Partners Navigate Global Trade Tensions While Strengthening Local Markets and International Ties
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Ghana and Regional Partners Navigate Global Trade Tensions While Strengthening Local Markets and International Ties

The global and local economic landscape is undergoing significant shifts as Ghana and its neighbors intensify efforts to bolster trade infrastructure while navigating a fragmenting international order. Locally, the Ketu North Municipal Assembly is advancing its '24-Hour Economy Market' project, a strategic initiative aimed at transforming the municipality into a round-the-clock commercial hub. During recent site assessments led by Municipal Chief Executive Reverend Martin Amenaki and consultants from PPMC International, officials evaluated three potential locations. While initial community feedback favored redeveloping the existing central market, consultants noted that the current 1.92-acre site and a secondary 1.98-acre plot at Dzeshime are currently insufficient to house the full scope of planned facilities. The Assembly is now refining layout plans to ensure the project—which requires a minimum of two to three acres—can serve as a modern model for local economic development. On the international stage, Ghana is deepening its 'modern growth partnerships' with traditional Western allies. The United Kingdom and Ghana recently marked five years of their Trade Partnership Agreement (TPA), announcing two major financial initiatives: Ci-Gaba, a first-of-its-kind pension-backed fund designed to support Ghanaian SMEs, and NeoFinGo, a digital solution aimed at modernizing cross-border trade finance. Simultaneously, the United States Embassy in Accra, led by Chargé d’Affaires Rolf Olson, has reaffirmed its commitment to strengthening commercial ties, highlighting shared entrepreneurial values during recent trade events. These partnerships are viewed as vital buffers for Ghanaian businesses as they seek to navigate volatile global markets and improve local industrial competitiveness. Across the wider continent, the informal sector is being reimagined as a 'sleeping giant' for regional growth. At a recent Southern African Development Community (SADC) meeting in Botswana, leaders urged member states to transition informal enterprises into the mainstream economy through social protection, improved access to finance, and targeted skills development. This regional push for industrialization is mirrored in the energy sector, as evidenced by the Solar and Storage Live Africa 2026 expo, which drew over 650 exhibitors from countries including Ghana, China, and South Africa. The event underscored a growing continental consensus on the need for local and international collaborations to secure sustainable energy solutions. However, these local and regional advancements face a backdrop of global uncertainty as the World Trade Organization (WTO) meets in Cameroon. Director-General Ngozi Okonjo-Iweala warned of a critical crossroads for the multilateral trading system, which is currently strained by Middle Eastern conflicts and a rise in protectionist policies. While China continues to defend the 'most-favoured nation' principle that governs the majority of global trade, the United States has advocated for a shift toward smaller, more flexible group agreements. For Ghana and its African peers, the outcome of these global reforms will be decisive in determining whether they can maintain the trade stability necessary to support their ambitious local and regional economic agendas.

Ghana’s Agricultural Sector at a Crossroads: Cocoa Shortfalls and Tomato Supply Volatility Prompt Shift Toward Agribusiness
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Ghana’s Agricultural Sector at a Crossroads: Cocoa Shortfalls and Tomato Supply Volatility Prompt Shift Toward Agribusiness

Ghana’s agricultural landscape is currently grappling with a dual crisis of production and supply chain volatility, highlighting the urgent need for a shift from subsistence methods to robust agribusiness models. In the cocoa sector, the world’s second-largest producer is facing a staggering decline, with output projected to plummet from over one million tonnes in the 2020/21 season to approximately 530,873 tonnes for 2023/24. This downturn is attributed to a combination of unpredictable weather, disease, illegal mining (galamsey), and smuggling. Compounding these issues, mismanagement and a failing financing model at COCOBOD have resulted in losses exceeding $1 billion, as the country sold cocoa below soaring global market prices, prompting the government to propose structural reforms and a shift toward local processing. Parallel to the cocoa crisis, traders in the Sunyani Municipality are sounding alarms over an imminent shortage of fresh tomatoes. Nana Yaa Konama, leader of the Tomato Sellers Association, reports that export restrictions from Burkina Faso and safety concerns along regional trade routes are driving up market prices. These supply constraints have forced many consumers to switch to tomato paste, while traders are urging the government to invest in local irrigation facilities and climate-resilient seedlings. The dependency on imports from Burkina Faso has exposed the vulnerability of Ghana's vegetable supply chain, leading to calls for increased government support to make commercial tomato farming more attractive to the unemployed youth. In response to these systemic challenges, the Savanna Agricultural Research Institute (CSIR-SARI) has launched the LOGMe II project to modernize farming practices in the Upper East Region. This three-year initiative, funded by the Italian Ministry of Environment and Energy Security, aims to transform the livelihoods of nearly 3,000 smallholder farmers by shifting them from subsistence farming to profitable business ventures. The program provides critical training in business planning, value addition, financial management, and digital marketing. By fostering entrepreneurship and encouraging the formation of cooperatives, the project seeks to combat land degradation while ensuring farmers can better navigate market fluctuations. The convergence of these events underscores a critical turning point for Ghana’s economy. While the cocoa sector requires immediate fiscal and structural stabilization to recover its global standing, the broader agricultural sector must embrace the entrepreneurial model championed by the LOGMe II project to ensure food security. Stakeholders agree that bridging the gap between production and market access—through better infrastructure, youth engagement, and modernized business practices—is essential for building a resilient agricultural system capable of capitalizing on future global market opportunities.

ECG to Upgrade Major Transformers in Accra: Scheduled Outages Announced for April 2026
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ECG to Upgrade Major Transformers in Accra: Scheduled Outages Announced for April 2026

The Electricity Company of Ghana (ECG) has launched a comprehensive transformer replacement and upgrade project across several key districts in Accra to significantly bolster the city's power distribution network. Approved by the Minister for Energy and Green Transition, Dr. John Abdulai Jinapor, the initiative involves the replacement of twelve power transformers across six primary substations. This strategic move targets areas experiencing rapid residential and commercial growth, reflecting a broader commitment to modernizing Ghana's energy infrastructure and ensuring a more stable electricity supply for consumers. To address increasing load demands and reduce system overloads, the ECG will upgrade transformer capacities from the current 20/26 MVA to 30/39 MVA. The project focuses on substations located in Adenta, La, Teshie-Nungua, Nmai-Dzor, Baatsonaa, and Lashibi. According to the company, these upgrades are essential to mitigate the risks associated with obsolete equipment and frequent system strain, which have historically led to unplanned outages. By increasing the load-handling capacity, the ECG aims to provide a more resilient grid capable of supporting the burgeoning energy needs of these communities. The project will be implemented in two distinct phases, requiring planned power outages to ensure the safety of technical teams and the successful installation of equipment. Phase one is scheduled for April 8 to April 10, 2026, affecting areas such as East Legon Hills, Nanakrom, School Junction, Lakeside communities, Katamanso, Borteyman, and New Legon. These outages are expected to occur in rotating blocks of up to six hours. The second phase, running from April 15 to April 17, 2026, will impact neighborhoods including Sakumono, Spintex, Community 18, and major residential estates such as Regimanuel, Devtraco, and HFC. ECG officials have emphasized that while these disruptions are temporary, they are critical for the long-term reliability of the regional power supply. The company has pledged to provide detailed outage schedules through its official communication channels and social media platforms to help residents and businesses plan accordingly. This infrastructure investment underscores the government's efforts to resolve energy distribution challenges and foster a more conducive environment for economic activity in the nation’s capital.

Ghana’s Financial Markets Face Sharp Correction Amid Regulatory Overhauls and Gold Reserve Controversies
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Ghana’s Financial Markets Face Sharp Correction Amid Regulatory Overhauls and Gold Reserve Controversies

The Ghana Stock Exchange (GSE) experienced a turbulent final week in March 2026, characterized by four consecutive days of decline and a significant sell-off that erased billions in market capitalization. By March 27, the GSE Composite Index (GSE-CI) fell to 12,989.79 points, following a particularly severe two-day period where the market shed approximately GH¢44 billion. The downturn was largely attributed to panic selling and institutional investors exiting positions in Scancom PLC (MTNGH) following dividend payments. Despite this sharp correction, which saw MTNGH drop to GH¢5.03, the GSE-CI maintained a year-to-date gain of over 48%, reflecting a market recalibrating after a substantial rally earlier in the year. While the secondary market faced volatility, the primary market saw new activity with the launch of ZEN Petroleum Holdings PLC’s initial public offering (IPO). Seeking to raise GH¢640 million, the downstream petroleum company offered 128 million shares at GH¢5.00 each, with the subscription period closing on March 31, 2026. This move coincides with broader efforts by the Ghana Investment Promotion Centre (GIPC) and the Microfinance and Small Loans Centre (MASLOC) to drive investment through the Diaspora Investor/Entrepreneur Matching Project. Additionally, MTN Group’s strong 2025 financial results—reporting a 45% dividend boost and R218 billion in service revenue—provided a backdrop of corporate resilience despite the immediate market fluctuations in Accra. Parallel to market activity, the Bank of Ghana (BoG) is enforcing critical structural reforms within the banking sector. All rural banks are mandated to convert to community banks by March 31, 2026, a directive aimed at addressing structural weaknesses and enhancing financial inclusion through stricter capital requirements and a 30% community ownership model. This reform aligns with the government’s transition to a fully electronic payment system, formalizing an agreement with 24 commercial banks to replace physical cheques with an integrated Electronic Funds Transfer (EFT) system. The Financial Stability Advisory Council (FSC) has reaffirmed its commitment to these transitions, emphasizing coordinated regulatory actions to protect consumers and maintain macroeconomic stability. However, the government’s gold reserve management has come under intense scrutiny following a critical report by the Institute of Political Studies–Ghana (IPS-Ghana). The analysis highlights a controversial policy reversal where the Bank of Ghana liquidated 18.5 tonnes of gold at USD 3,500/oz in late 2025, only for the government to propose repurchasing the same quantity at USD 5,500/oz under the Ghana Accelerated National Reserve Accumulation Policy (GHANRAP) 2026–2028. This transaction implies a financial discrepancy of approximately USD 1.27 billion. Analysts are calling for greater transparency and parliamentary inquiries into the timing and governance of these transactions, warning that such fiscal misalignment could threaten the credibility of Ghana’s macroeconomic recovery narrative.

Ghana’s Agriculture at a Crossroads: Navigating Supply Volatility, Cocoa Deficits, and the Shift to Agri-Entrepreneurship
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Ghana’s Agriculture at a Crossroads: Navigating Supply Volatility, Cocoa Deficits, and the Shift to Agri-Entrepreneurship

Ghana’s agricultural sector is currently grappling with significant supply chain disruptions and production declines, highlighted by an imminent tomato shortage in the Sunyani Municipality and a historic slump in cocoa output. While these challenges underscore the vulnerability of the nation’s food security and export revenues, new initiatives like the LOGMe II project are emerging to transform subsistence farming into resilient, profitable business ventures. These developments reflect a critical moment for the nation as it balances immediate commodity scarcity with the need for long-term structural reform and modernization across various crop sectors. In Sunyani, the Tomato Sellers Association, led by Nana Yaa Konama, has warned of a looming scarcity of fresh tomatoes driven by export restrictions from Burkina Faso and heightening safety concerns along regional trade routes. Local traders report that rising prices are already forcing consumers to switch from fresh produce to processed tomato paste. To mitigate this dependency, sellers are urgently calling on the government to invest in irrigation infrastructure and climate-resilient seedlings. They emphasize that achieving year-round local production is essential not only for food security but also to make commercial farming an attractive, job-creating venture for the nation’s unemployed youth. Simultaneously, Ghana’s cocoa sector—traditionally a pillar of the economy—is facing what experts call a "cocoa paradox." Despite soaring global market prices, domestic production has plummeted from over one million tonnes in the 2020/21 season to a projected 530,873 tonnes for 2023/24. This decline is attributed to a combination of erratic weather patterns, crop diseases, illegal mining (galamsey), and smuggling. Compounded by COCOBOD’s management challenges and a strained financing model, the country has faced significant financial losses, prompting a shift toward local cocoa processing and revised farmgate pricing strategies to stabilize the industry. Amidst these systemic crises, the Savanna Agricultural Research Institute (CSIR-SARI) is spearheading a strategic counter-effort through the "Sahelian Landscape: Landscape of Opportunities" (LOGMe II) project. Funded by the Italian Ministry of Environment and Energy Security, this initiative aims to equip nearly 3,000 smallholder farmers in the Upper East Region with essential business skills, digital marketing tools, and value-addition techniques. By transitioning from subsistence to commercial-oriented agriculture, the project seeks to build a more sustainable and self-sufficient food system. Leaders of the initiative argue that fostering such entrepreneurial mindsets is the key to restoring degraded lands and ensuring that Ghanaian farmers can finally capitalize on market opportunities both locally and internationally.

Ghana Infrastructure Drive: ECG to Upgrade Power Transformers in Accra as Ketu North Plans 24-Hour Economy Market
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Ghana Infrastructure Drive: ECG to Upgrade Power Transformers in Accra as Ketu North Plans 24-Hour Economy Market

The Electricity Company of Ghana (ECG) has launched a significant infrastructure overhaul in the Greater Accra Region, aimed at boosting power reliability and meeting the increasing energy demands of growing urban communities. Approved by the Minister of Energy and Green Transition, Dr. John Abdulai Jinapor, the initiative involves the replacement and upgrade of 12 power transformers across six primary substations. These critical upgrades will see transformer capacities increase from 20/26 MVA to 30/39 MVA at the Adenta, La, Teshie-Nungua, Nmai-Dzor, Baatsonaa, and Lashibi substations. By addressing system overloads, the project is expected to significantly reduce unplanned outages and strengthen the national grid's distribution capabilities. To facilitate these essential upgrades, the ECG has announced a two-phased schedule of planned power outages. Phase one is set to take place from April 8 to April 10, 2026, affecting areas such as East Legon Hills, Nanakrom, School Junction, and the Lakeside communities. Phase two will follow from April 15 to April 17, 2026, impacting neighborhoods including Sakumono, Spintex, Community 18, and the Devtraco and HFC Estates. The outages will occur in rotating blocks of up to six hours. The ECG has committed to providing detailed communication via official channels to help residents and businesses plan accordingly, emphasizing that these temporary disruptions are necessary for long-term supply stability. Parallel to these energy improvements, local economic development is taking center stage in the Ketu North Municipality. Reverend Martin Amenaki, the Municipal Chief Executive (MCE), alongside consultants from PPMC International, recently assessed three potential sites for a proposed 24-hour economy market. The project, which aims to create a model market with modern facilities, initially considered a six-acre site near a major road. However, following community feedback, officials are exploring the redevelopment of the existing central market. This shift has presented challenges, as the current site measures only 1.92 acres, while consultants led by Mr. Kwasi Aboagye indicate a minimum of two to three acres is required to house the planned facilities. The search for a viable location in Ketu North continues, with a second site at Dzeshime also deemed inadequate at 1.98 acres. The consultants have requested detailed layout plans for all assessed sites to determine if adjustments can be made to accommodate the project's requirements on smaller plots or if the original six-acre proposal must be revisited. These infrastructure and commercial developments in both Accra and Ketu North underscore a broader national strategy to modernize trade environments and ensure the utility backbone can support a 24-hour economic cycle, ultimately fostering more resilient local and national economies.