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.

Ghana Cedi Begins 2026 with 4% Depreciation Against Major Currencies
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Ghana Cedi Begins 2026 with 4% Depreciation Against Major Currencies

The Ghana cedi has commenced 2026 under significant pressure, depreciating by an average of 4% against major currencies. As of January 2026, the cedi is trading at GH¢10.88 to the US dollar, down from GH¢10.45 in December 2025. It has also experienced declines of 4.9% against the British pound, now at GH¢14.77, and 4.1% against the euro, trading at GH¢12.80. In the retail market, the dollar is exchanging at approximately GH¢12.00, reflecting ongoing demand pressures. This early depreciation is attributed to seasonal foreign exchange demand, portfolio adjustments at the start of the year, and sensitivity to global financial conditions. The Bank of Ghana is maintaining a cautious stance, closely monitoring the situation to assess whether this weakness will stabilize or indicate a longer-term recalibration, especially following the cedi's notable performance in 2025, where it appreciated significantly after an initial decline. The current depreciation, while concerning, is considered modest compared to the strong gains of the previous year.

Ghana's Youth Face Housing Crisis Amid Economic Recovery and Currency Depreciation
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Ghana's Youth Face Housing Crisis Amid Economic Recovery and Currency Depreciation

Ghana's housing market is in crisis, with a deficit of nearly two million units significantly impacting the predominantly youthful population, where 60% are of working age. Despite a recovering economy, marked by a GDP growth of 5.8% and reduced inflation to 5.4% in 2025, the rising costs of housing and burdensome advance-rent practices are locking many young Ghanaians out of home ownership. In urban centers like Accra, Kumasi, and Takoradi, property prices have soared, making homeownership increasingly unattainable. Many landlords demand upfront payments of two years' rent, often violating the Rent Act of 1963, forcing young adults into overcrowded living situations or back to parental homes. Government initiatives such as the National Rental Assistance Scheme and the National Homeownership Fund aim to alleviate these challenges by providing lower interest loans and accessible mortgages. However, experts emphasize that significant investments in housing infrastructure and regulatory reforms are essential for sustainable solutions. Compounding these issues, the Ghana cedi has depreciated by 4% against major currencies in early 2026, trading at GH¢10.88 to the US dollar, down from GH¢10.45 at the end of 2025. This depreciation, attributed to seasonal demand pressures and fluctuations in the foreign exchange market, raises concerns about the long-term stability of the currency and its impact on the economy. The Bank of Ghana is closely monitoring the situation, as the cedi's performance contrasts sharply with its significant gains of 40.7% against the dollar in 2025. As the youth grapple with these economic challenges, the need for comprehensive policy reforms and infrastructure development becomes increasingly urgent to secure their future in a rapidly changing housing landscape.

Telecel Ghana Launches Third Cohort of Digitech Academy to Boost STEM Education
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Telecel Ghana Launches Third Cohort of Digitech Academy to Boost STEM Education

The Telecel Ghana Foundation has officially launched the third cohort of its Digitech Academy, a program designed to enhance digital skills and STEM education among Ghanaian youth. This initiative, which runs from January to March 2026, aims to reach approximately 500 learners from 19 schools across five regions: Volta, Central, Upper West, Ahafo, and Upper East. In collaboration with the Ghana Education Service and the Ghana STEM Centre, the Digitech Academy will provide a 12-week after-school training program that aligns with Ghana's ICT curriculum. Students will receive hands-on training in electronics, programming, and robotics, allowing them to construct circuits, code, and build functional robots. To promote gender equality in STEM, 70% of the training slots are allocated for female students. Telecel Ghana's External Affairs Director, Komla Buami, highlighted the initiative's commitment to equipping students with essential digital skills, emphasizing that the program is accessible to all, regardless of background or location. The Digitech Academy underscores the Foundation's dedication to fostering youth development and enhancing digital literacy across Ghana.

President Mahama Celebrates First Sky Group's Contributions to Ghana's Economic Growth
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President Mahama Celebrates First Sky Group's Contributions to Ghana's Economic Growth

During a recent interdenominational thanksgiving service in Accra, President John Mahama commended the First Sky Group for its significant contributions to Ghana's national development, coinciding with the company's 23rd anniversary. Mahama emphasized the critical role of supporting indigenous companies in enhancing the country's Gross National Product (GNP), advocating for policies that prioritize local firms for government projects. He noted that such initiatives have helped Ghanaian companies, including First Sky Group, meet international standards. The President highlighted the Group's diversification into various sectors, including hospitality and energy, which has not only created jobs but also strengthened the local economy. Additionally, he acknowledged First Sky Group's philanthropic efforts in healthcare, particularly through the Mahama CARE initiative, which supports treatments for non-communicable diseases. Eric Seddy Kutortse, the Executive Chairman of First Sky Group, reaffirmed the company's commitment to job creation and announced a solar power project aimed at enhancing the national grid while generating further employment opportunities. Reverend Alex Sujith, who also spoke at the event, encouraged attendees to embrace a spirit of thanksgiving, promoting messages of peace and unity within the community.

US Government Invests $1.6 Billion in USA Rare Earth to Reduce Reliance on China
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US Government Invests $1.6 Billion in USA Rare Earth to Reduce Reliance on China

The Trump administration has announced a significant investment of $1.6 billion in USA Rare Earth, a move aimed at reducing the United States' dependence on China for critical minerals. This funding package includes a $1.3 billion loan and $277 million in federal support, designed to enhance domestic production of essential minerals crucial for technology and defense applications. Commerce Secretary Howard Lutnick highlighted the importance of this investment in building resilient supply chains amid ongoing trade tensions with China, which currently processes approximately 90% of the world's rare earths. The announcement follows a notable increase in USA Rare Earth's stock prices, which surged over 15% following the news. This initiative is part of a broader strategy by the U.S. government to secure alternative supply lines for critical resources, reflecting a growing trend of investments in the mineral sector to bolster national security and economic independence. Previous government investments in this area include a $1.4 billion deal with Vulcan Elements and support for MP Materials, indicating a concerted effort to shift the competitive landscape in the rare earths market.

Nana Nketsia V Advocates for Value Addition to Boost Economic Growth in Western Region
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Nana Nketsia V Advocates for Value Addition to Boost Economic Growth in Western Region

Nana Kobina Nketsia V, President of the Western Regional House of Chiefs, has called for enhanced value addition to local raw materials as a critical strategy for boosting economic growth and sustainable development in Ghana's Western Region. Speaking at the Western Regional Investment Forum in Takoradi, organized by the Ghana Investment Promotion Centre (GIPC), he highlighted the region's rich resources and potential for industrialization, while acknowledging its current lag in this area. The forum aimed to explore investment opportunities and promote local investments that support cultural and community prosperity. Dr. Akwasi Opong-Fosu outlined a roadmap for identifying bankable investments across the country, while Madam Rachel Fosua Sarpong emphasized the initiative's role in translating regional potential into tangible economic benefits. The GIPC's efforts are focused on enhancing local industrialization and exports, with strategic support from stakeholders such as the Western Regional Coordinating Council.

Ghana Urged to Accelerate Decarbonisation of Transport Sector for Health and Economic Benefits
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Ghana Urged to Accelerate Decarbonisation of Transport Sector for Health and Economic Benefits

On January 26, the UK–Ghana Jobs and Economic Transformation (JET) Programme called for Ghana to expedite the decarbonisation of its transport sector, coinciding with the International Day of Clean Energy. The initiative aims to reduce greenhouse gas emissions, which currently account for nearly half of the country's energy-related emissions, and to enhance public health and economic growth. The transport sector's reliance on fossil fuels and an ageing vehicle fleet, with an average age of 14 years, has contributed to a 15% rise in emissions from 2015 to 2023, costing the nation approximately $3 billion annually in health impacts due to air pollution. The JET Programme emphasizes the need for coordinated government efforts to promote cleaner transport solutions, including electric vehicles. It advocates for enhanced vehicle financing options and local vehicle assembly to stimulate demand and investor confidence. The programme also suggests revising the Ghana Automotive Development Policy to better support the transition to electric vehicles. With the automotive industry positioned as a key player in this transition, decisive actions are essential for fostering a cleaner transport system that can lead to job creation, improved air quality, and a more competitive manufacturing sector. Overall, the JET Programme's recommendations align with Ghana's goal of achieving a 15% reduction in greenhouse gas emissions by 2030, positioning the country as a leader in sustainable transport in West Africa.

Ghana Establishes Regulatory Framework for Digital Finance with New Legislation
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Ghana Establishes Regulatory Framework for Digital Finance with New Legislation

Ghana has officially entered the realm of regulated digital finance with the launch of its Virtual Assets Playbook, a significant move aimed at positioning the country as a trusted hub for virtual assets, Open Banking, and cross-border transactions. This initiative was highlighted during the Future of Finance Dialogues in Accra, where Dr. Abed-Nego Azumah Bandim, Chair of Parliament’s Select Committee on Information and Communications, emphasized the integral role of digital finance in everyday economic activities. The passage of the Virtual Asset Service Providers (VASP) Bill in December 2025 marks a pivotal shift away from regulatory uncertainty, enabling a clearer legal framework for digital finance operations in Ghana. Dr. Bandim underscored the importance of effective implementation and collaboration between regulators and industry stakeholders to ensure the success of this regulatory framework. He identified three key pillars for success: policy coherence, a balance between innovation and consumer protection, and disciplined execution. This regulatory advancement not only aims to protect monetary sovereignty but also seeks to shape the future of digital finance in Africa and beyond, fostering a partnership mindset between regulators and industry participants.

Ghana Raises VAT Registration Threshold to GH¢750,000 to Support Small Businesses
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Ghana Raises VAT Registration Threshold to GH¢750,000 to Support Small Businesses

The Ghana Revenue Authority (GRA) has announced an increase in the Value Added Tax (VAT) registration threshold from GH¢200,000 to GH¢750,000 per annum. This significant adjustment aims to reduce the compliance burden on micro and small businesses operating in the informal sector. Chief Revenue Officer Mr. David Lartey Quarcoopome highlighted that the previous threshold had remained unchanged since 2013 and had become increasingly inadequate given current economic conditions. Under the new regulations, businesses that fall below the revised threshold will be deregistered from VAT and transitioned to the Modified Tax Scheme (MTS), which is designed to simplify compliance. Mr. Thomas T. K. Agorsor from the GRA's DTRD Free Zones Office noted that the VAT system is more effective for medium to large enterprises that have established accounting systems. The changes are expected to enhance efficiency in tax collection while ensuring that over 90% of VAT revenue continues to be generated by larger taxpayers. Small businesses under the MTS will have the option to pay a fixed quarterly amount, a 3% turnover tax, or a graduated tax based on simplified accounting methods, thereby easing their tax obligations and promoting growth in the sector.