Business

The Ministries of Energy and Finance have begun high-level consultations aimed at suspending selected fuel taxes and margins, as part of efforts to reduce fuel prices and ease the burden on consumers. The discussions were led by Energy and Green Transition Minister John Jinapor in collaboration with the Ministry of Finance, bringing together key stakeholders from the downstream petroleum sector. …

The Bank of Ghana (BoG) has cut its Monetary Policy Rate by 150 basis points to 14%, following a decision by its Monetary Policy Committee (MPC). The move, announced after the MPC meeting on Wednesday, March 18, 2026, signals a continued shift toward monetary easing amid improving macroeconomic conditions. Speaking at the 129th MPC press briefing, Governor Dr. Johnson Asiama …

The Deputy Minister for Finance, Thomas Nyarko Ampem, has disclosed that 35 contractors under the Agenda 111 received US$7.9 million in mobilisation funds but failed to mobilise to site or deliver work that matches the payments made to them. Presenting the Report of the Auditor-General on Arrears and Payables as at the end of 2024 in the chamber of the …

The Deputy Minister for Finance, Thomas Nyarko Ampem, has disclosed that an audit prevented a potential loss of more than GHS159 million in allowances intended for teacher trainees under the Ghana Tertiary Education Commission (GTEC). According to the Deputy Minister, the Ministry of Education had reported unpaid allowances totaling GHS160 million for teacher trainees. However, when auditors engaged GTEC, the …

President John Dramani Mahama has defended his administration’s economic management, stating that deliberate policy measures have stabilised Ghana’s currency and significantly improved overall economic performance. Delivering the 2026 State of the Nation Address in Parliament on Friday, February 27, President Mahama said his government made currency stability a central priority upon assuming office, stressing that the results are already evident. …

The Governor of the Bank of Ghana, Dr. Johnson Pandit Asiama, has reaffirmed the central bank’s commitment to consolidating recent macroeconomic gains and strengthening long-term resilience within Ghana’s financial system. Speaking at a meeting with the UK-Ghana Chamber of Commerce at Bank Square on Monday, February 23, 2026, Dr. Asiama stated that disciplined monetary policy and regulatory reforms are beginning …

Vice President Professor Jane Naana Opoku-Agyemang has announced that preparations for the rollout of the government’s flagship Women’s Development Bank are at an advanced stage. Speaking at the 65th End-of-Year Gathering and General Meeting of the Greater Accra Markets Association (GAMA), she disclosed that a two-day workshop has been convened to finalise key implementation strategies for the initiative. “Women are …

The government has announced comprehensive reforms to overhaul Ghana’s cocoa sector after a review uncovered eight years of financial mismanagement at the Ghana Cocoa Board (COCOBOD). Finance Minister Dr. Cassiel Ato Forson said the wide-ranging measures are designed to guarantee fair prices for farmers, strengthen the sector’s financial position, and ensure long-term sustainability. Immediate Support for Farmers As part of …

The government has directed the Attorney General and Minister for Justice, Dr. Dominic Ayine, to initiate a comprehensive investigation into the finances and operations of the Ghana Cocoa Board (COCOBOD) over the past eight years. The directive was announced on Thursday, February 12, by Finance Minister Dr. Cassiel Ato Forson during a press briefing outlining measures to stabilise the cocoa …

From February 1, 2026, the Customs Division of the Ghana Revenue Authority (GRA) will begin deploying an artificial intelligence (AI)-powered system to enhance import clearance at the country’s entry points, starting with the Tema Port. The new system, known as the AI-powered Publican Trade Solution, is expected to increase customs revenue by between 40 and 45 per cent, while significantly …