Business

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 …

The Ghana Union of Traders’ Associations (GUTA) has appealed to the Ghana Revenue Authority (GRA) to adopt a more considerate approach as it intensifies nationwide visits to businesses under its VAT compliance campaign.GUTA President Clement Boateng said GRA officials deployed to markets and businesses should exercise restraint and conduct their duties in a manner that encourages cooperation rather than confrontation.Speaking …

President of the Dangote Group, Aliko Dangote, has attributed Ghana’s recent economic improvement to renewed investor confidence in President John Dramani Mahama’s leadership.According to the African business leader, the country’s changing economic fortunes demonstrate the important role that confidence and trust can play in attracting investment and supporting economic recovery.Speaking at the Accra Reset, hosted by President Mahama on the …

The Bank of Ghana (BoG) is set to weigh the need for further interest-rate cuts against renewed inflationary pressures as its Monetary Policy Committee (MPC) begins its September meeting.The meeting, which starts on Tuesday, September 22, and ends on Thursday, September 24, comes at a time when inflation remains relatively low but has moved up from the exceptionally low levels …

The Ghana Cocoa Board (COCOBOD) has come under intense scrutiny following revelations that 87 percent of contracts under its flagship cocoa roads investment programme were directly awarded without competitive tendering. The finding, highlighted in a technical assistance report by the International Monetary Fund (IMF), underscores systemic governance and procurement vulnerabilities within the country’s state-owned enterprise (SOE) sector. The report noted …