Business

Ghana has secured a favourable outcome in an international tax arbitration dispute with Tullow Ghana Limited, after an International Chamber of Commerce (ICC) Tribunal dismissed the oil producer’s claims and upheld a US$393.09 million tax assessment issued by the Ghana Revenue Authority (GRA).The decision was delivered on Tuesday, September 29, 2026, by a tribunal constituted under the ICC Rules of …

The Ghana Association of Banks (GAB) has called for stronger measures to reduce the risks within Ghana’s business environment to enable banks to expand lending to small and medium-sized enterprises (SMEs).GAB President John Awuah said banks are prepared to provide more financing to SMEs, but weaknesses in areas such as storage, distribution and market access can undermine businesses’ ability to …

The Bank of Ghana could resume cutting its policy rate at its final Monetary Policy Committee meeting of 2026, but the decision will depend largely on the outlook for fuel and other energy-related costs and their impact on inflation expectations.The MPC has kept the policy rate at 14% for three consecutive meetings, adopting a cautious approach as recent increases in …

Societe Generale Group has reached an agreement to sell its entire 60.22% stake in Societe Generale Ghana to pan-African banking group Attijariwafa Bank and the Social Security and National Insurance Trust (SSNIT).Under the agreement, Attijariwafa Bank will acquire a 55.22% stake in the Ghanaian bank, while SSNIT will acquire an additional 5% stake.The transaction will mark the exit of Societe …

S&P Global has warned that Ghana’s efforts to build up its foreign exchange and gold reserves could come with significant fiscal costs and put pressure on recent improvements in the country’s public finances.The international rating agency said the Ghana Accelerated National Reserve Accumulation Policy (GANRAP), which relies heavily on gold to strengthen the country’s external reserves, could impose substantial costs …

Second Deputy Governor of the Bank of Ghana (BoG), Matilda Asante-Asiedu, has been appointed as the authorised representative of BoG Governor Dr Johnson Pandit Asiama on the Board of the Ghana Gold Board (GoldBod).The appointment, which took effect on Monday, May 11, 2026, authorises Mrs Asante-Asiedu to attend and fully participate in all meetings of the GoldBod Board on behalf …

Finance Minister Dr Cassiel Ato Forson has urged businesses to invest with confidence, saying the government intends to sustain recent economic gains and create conditions for increased private-sector investment.Speaking at a meeting with the leadership of the Association of Ghana Industries (AGI) and other industry leaders, Dr Forson said the government’s new economic transformation blueprint would be outlined in the …

The Bank of Ghana (BoG) is set to introduce a new series of Ghana cedi banknotes, known as the Heritage Series, as part of efforts to modernise the country’s currency and enhance its security and durability. Governor of the Bank of Ghana, Dr Johnson Pandit Asiama, announced the initiative on Thursday, September 24, 2026, at the conclusion of the 132nd …

The Ministry of Finance is expected to write off approximately US$120 million of the Tema Oil Refinery’s (TOR) legacy debt as part of efforts to reduce the financial burden on the state-owned refinery.TOR Managing Director Edmond Kombat disclosed this during a working visit by Parliament’s Energy Committee.According to him, the refinery’s outstanding legacy obligations currently stand at about US$400 million …

The Ghana Revenue Authority (GRA) says it is targeting a significant reduction in the country’s Value Added Tax (VAT) gap, from the current 60% to about 30% by the end of 2028.Commissioner for the Domestic Tax Revenue Division of the GRA, Dr Martin Kolbil Yamborigya, said the target forms part of the Authority’s VAT Strategic Plan aimed at improving compliance …