News Guide Africa

Category: News

  • Gov’t engaging EV players to promote sustainable partnership in modern transport systems

    Gov’t engaging EV players to promote sustainable partnership in modern transport systems

    Ghana’s government is taking steps to accelerate the country’s transition to clean and modern transport systems by reviewing tax incentives and duty structures on electric vehicles (EVs).

    The Energy Ministry is engaging with private sector stakeholders to identify gaps in the current regime and create a policy environment that supports affordability, investment, and wider adoption of electric mobility.

    This forms part of government plans to make EVs more accessible and attractive, align Ghana’s EV framework with its broader energy transition agenda and create a policy environment that supports affordability, investment, and wider adoption of electric mobility

    Deputy Energy Minister Dr. Richard Gyan-Mensah emphasized the importance of this review, stating, “We are in continuous dialogue with the private sector to identify gaps in the current duty and tax regime.” Deputy Transport Minister Dorcas Toffey added, “The EV transition is not just a trend, it’s a necessary shift for a safer, greener, and more sustainable transport sector.”

    Private Sector Support:

    The private sector is ready to invest in EV adoption, but needs stronger government backing. Lesley Arthur, CEO of Cubica Energy, stated, “The private sector is ready and willing to invest, but we need deliberate government backing. From incentives to infrastructure, the right support will significantly speed up EV adoption in Ghana.”

    Challenges and Opportunities:

    Meanwhile key challenges exist and these include: Charging infrastructure gaps; Financing models; and energy reliability, innovation in driving clean transport solutions.

    The Chief Executive Officer of Cubica Energy, Lesley Arthur, has welcomed the government’s ongoing engagement with industry players on electric mobility but says stronger support is needed to accelerate nationwide adoption of electric vehicles (EVs).

    Speaking at the ERA EV Conference in Accra, she described the private sector as a “critical driver of EV penetration” and stressed that businesses are prepared to make significant investments if government creates the right enabling environment.

    “The private sector is ready and willing to invest, but we need deliberate government backing. From incentives to infrastructure, the right support will significantly speed up EV adoption in Ghana” she said

    She further noted that while recent government efforts to review tax incentives and duty structures for EVs are encouraging, more targeted policies and long-term commitments are required to reduce market risk and boost investor confidence.

    The ERA EV Conference brought together policymakers, technology providers, energy firms, transport operators and development partners to explore opportunities, challenges and the future direction of Ghana’s electric mobility ecosystem. Participants discussed issues including charging infrastructure gaps, financing models, energy reliability, and the role of innovation in driving clean transport solutions.

    She reaffirmed Cubica Energy’s commitment to supporting Ghana’s transition to sustainable mobility, emphasising that collaboration between the public and private sectors will be key to unlocking the country’s EV potential.

     

    By Adnan Adams Mohammed

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

  • Bureaucracy stifling businesses, jobs and economic expansion

    Bureaucracy stifling businesses, jobs and economic expansion

    A recent study by the Institute for Liberty and Policy Innovation (ILAPI) reveals that Micro, Small, and Medium Enterprises (MSMEs), spend a staggering 30-40% percent of their annual revenue on regulatory compliance, including registration, licensing, and permits.

    This attests to the claim that Ghana’s bureaucracy is stifling the growth of small businesses and pushing them towards poverty.

    As the ILAPI puts it, the cost of bureaucracy ranges from business registration to licences and permits. It estimated that: average cost to register a business is GH₵1,030; average cost to secure a permit: GH₵1,275; average cost to acquire licenses is up to GH₵10,100.

    It further put it that, 84% of MSMEs use middlemen (“goro boys”) due to slow and opaque processes; and 40.8% of MSMEs wait over a month for registration certificates.

    These are not just numbers but have impact on job creation and the economy as each MSME loses the ability to employ at least three people due to regulatory costs resulting in potential loss of 3 million jobs annually.

    According to statistics, MSMEs account for 92% of businesses and 70% of Ghana’s GDP with the informal sector contributing 70% to GDP and employing 86.4% of the population.

    “The regulatory burden is so heavy that many businesses prefer to stay invisible,” the report said. “This undermines revenue mobilization, weakens investor confidence and creates barriers for accessing credit and government support,” the study stated.

    Also, according to the 2025 United Kingdom Chamber of Commerce Business Environment and Competitiveness Survey, perceptions of government bureaucracy have fallen sharply, compared to prior years.

    Causes of Bureaucratic Inefficiencies

    It has been overemphasized that the overlapping laws and agencies compound the bureaucratic system and business regulations. Manufacturing firms, for example, deal with 13 separate laws and agencies, while tourism and ICT businesses navigate long lists of sector-specific approvals. Agencies such as the EPA, FDA, GSA, ORC, GNFS, LUSPA, MMDAs, GTA, and the Public Health Authority often have overlapping mandates, leading to duplicative inspections, conflicting instructions and repeated payment demands.

    Also, duplicative inspections and conflicting instructions; and lack of transparency and accountability add up to the challenge.

    Reform Recommendations

    Business analysts and promoters have recommended a unified digital registration platform; decentralized registration services via MMDAs; harmonization of overlapping regulations; mandatory Regulatory Impact Assessment (RIA); sector-specific one-stop shops; and full digitization of post-registration compliance.

    It is believed that implementing these reforms could reduce compliance costs by 30-40%, unlock job creation, and boost government revenue. Ghana’s economic future depends on fixing its bureaucratic system.

     

    By Adnan Adams Mohammed

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

  • From Excellence in Hajj Management to Best Farmer: The story of Alhaji Tanko

    From Excellence in Hajj Management to Best Farmer: The story of Alhaji Tanko

    The Chairman of the Pilgrims Affairs Office of Ghana (PAOG), Alhaji Abdul-Rauf Tanko Ibrahim, has been adjudged the Best Farmer for the North East Region during this year’s Regional Farmers’ Day celebration.

     

    The recognition was conferred on him for his outstanding contributions to crop production, livestock rearing, and community development.

     

    Presenting the award, the Regional Awards Committee commended Alhaji Tanko Ibrahim for demonstrating that politicians and public office holders can also invest meaningfully in agriculture. “His efforts show that leadership is not only about politics but also about ensuring food security, job creation, and local economic growth,” the committee noted.

     

    Alhaji Tanko Ibrahim expressed gratitude for the honour, stressing that the award would inspire him to expand his farming activities further. “This recognition is a call to do more, and I will continue to support agriculture as a pillar of development in our region,” he said.

     

    The Regional Farmers’ Day celebration brought together stakeholders in agriculture, traditional leaders, and government officials, all of whom applauded the achievements of farmers across the North East Region.

  • Tamale Islamic SHS Student Shines in WASSCE …MUYAD Social Services extends congratulations 

    Tamale Islamic SHS Student Shines in WASSCE …MUYAD Social Services extends congratulations 

    Idrisu Abdul Jabar Anamzooya, a student of Tamale Islamic Senior High School (SHS), has made his school proud with outstanding performance in the West African Senior School Certificate Examination (WASSCE).

     

    Idrisu secured excellent grades in all nine subjects, scoring A1 in Social Studies, English Language, Mathematics (Core), Integrated Science, Mathematics (Elective), Biology, Chemistry, and Physics. The results, released by the West African Examinations Council (WAEC), are provisional pending final certification.

     

    The young scholar, who appeared in the WASSCE School 2025 examination at Tamale Islamic SHS, demonstrated exceptional academic ability across the board, excelling in both science and arts subjects.

     

    Tamale Islamic SHS congratulates Idrisu on his remarkable achievement and wishes him success in his future academic pursuits. The school’s administration praised the student’s dedication and hard work, highlighting the institution’s commitment to academic excellence.

     

    “We extend our warmest congratulations to Master Idrisu Abdul Jabar Anamzooya on his outstanding performance in the WASSCE,” said Adnan Adams Mohammed, Executive Director of MUYAD Social Services.

    “Idrisu’s exceptional achievement is a testament to his hard work, dedication, and commitment to academic excellence. We wish him continued success in his future academic pursuits and look forward to seeing him make a positive impact in his community.”

     

    Idrisu’s results can be verified through the WAEC Ghana QR code reader available on Google Play for Android phones, ensuring transparency and authenticity of the provisional results.

  • PAOG Warns Against Unapproved Hajj Routes and Payments for Banned Individuals

    PAOG Warns Against Unapproved Hajj Routes and Payments for Banned Individuals

    The Pilgrims Affairs Office of Ghana (PAOG) is reminding prospective pilgrims and accredited Hajj agents to adhere to official channels for the 2026 Hajj pilgrimage.

     

    The Saudi Ministry of Hajj and Umrah has strictly enforced permit regulations, and individuals without valid permits risk being banned from entering Mecca.

     

    A press statement issued by PAOG highlighted the following key points:

    – Strict Enforcement: Saudi authorities suspended and banned over 269,000 unregistered pilgrims in 2025, including some Ghanaians, who are now barred from entering Saudi Arabia for approximately five years.

    – Valid Permits Required: Accommodation facilities in Mecca will only host individuals with valid Hajj permits or work/residency permits during the Hajj season.

    – No Refunds for Banned Individuals: PAOG will not issue refunds to banned individuals attempting to pay for Hajj 2026, and the Saudi government will not issue visas to such persons.

    – Accredited Agents Only: Prospective pilgrims are advised to use accredited Hajj agents or pay directly to the Ghana Commercial Bank (GCB) to avoid complications and losses.

     

    PAOG emphasizes the importance of following official procedures to ensure a smooth and safe pilgrimage experience.

     

    For more information, please contact PAOG or visit their official website.

  • NIBF: BoG nears full operationalisation …trains industry players

    NIBF: BoG nears full operationalisation …trains industry players

    The Bank of Ghana, as part of an effort to roll out full operationalization of Non-Interest Banking and Finance (NIBF) in the country, has organised a capacity-building program today, December 1, 2025, for stakeholders, including banks, insurers, and capital market players.

     

    The training covered key areas of NIBF such as; Sukuk structuring, non-interest product development, licensing procedures, and governance models.

     

    This move is aimed at promoting financial inclusion, broadening economic opportunities, and offering consumers more choices while ensuring fairness and non-discrimination in the financial system.

     

    “It is significant to develop capacities for the emerging new model products of financing and banking in Ghana”, Ismail Adam, Head of Banking Supervision at Bank of Ghana, addressing the participants on behalf of the Governor said.

     

    “Since 2016, when NIBF were made permissible in Banks and Specialized Deposit-Taking Institutions Act, 2016 (Act 930), this is the first time we have invested as Bank of Ghana in regulatory effort toward this novelty.

     

    “The Bank of Ghana has reached this important point because of the inclusive engagement process with both Christians and Muslims agreed on this novel concept”, Mr Adam noted.

     

    Professor John Gatsi, Advisor to the Governor on Non Interest Banking and Finance at the Bank of Ghana (BoG), in his opening remarks noted that, the Chartered Institute of Bankers (CIB) Ghana has begun rolling out certificate courses for banking professionals in capacity building preparation to await implementation of the NIBF.

     

    Key highlights of the NIBF framework:

     

    The framework represents an effort to deepen financial inclusion and create space for alternative forms of finance that align with Ghana’s secular and regulatory principles while expanding access to ethical banking services.

     

    The draft non-interest banking guideline is currently undergoing internal validation at BoG and will soon be presented to the Governor for review and approval, with publication expected by year end.

     

    Operational standards

     

    The guideline will define licensing requirements, governance structures, operational standards, and product approval processes.

     

    Each institution will have its own internal governance committee responsible for vetting non-interest products, while a central oversight body at BoG will validate compliance with ethical and prudential standards.

     

    Secular Approach: 

     

    Professor Gatsi reaffirmed the Bank of Ghana’s commitment to implementing non-interest banking through a secular and neutral approach. The central bank plans to deploy this within a secular economy with rules ensuring market neutrality. Implementation will begin on a phased basis, initially excluding microfinance, rural, and community banks to allow for controlled management before expansion.

     

    “We are deploying this within a secular economy, and therefore there are rules to ensure that the market remains neutral,” Professor Gatsi stated. He emphasized that starting small allows regulators to identify challenges early, strengthen compliance systems, and build institutional capacity before expanding to other financial sector segments.

     

    The framework requires institutions to avoid names or branding that suggest religious association, whether Islamic or Christian, to preserve market neutrality. Non-interest banking in Ghana will be driven by ethical financial practice and inclusivity rather than religious identity.

     

    Type of licenses and capital requirement: 

     

    The Bank of Ghana advisor revealed that two types of licenses will be introduced under the framework. A window license will allow conventional banks interested in offering non-interest products to do so, while a full non-interest banking license will be available for institutions operating exclusively under non-interest principles.

     

    The regulatory design includes two types of licenses for market participants. Conventional banks wishing to offer non-interest products will apply for a window license, while institutions planning to operate entirely under non-interest principles will require a full non-interest banking license.

     

    Capital requirements for establishing non-interest banks will strictly follow existing prudential and regulatory standards under the Banks and Specialized Deposit-Taking Institutions Act, 2016 (Act 930). Institutions must be fully incorporated in Ghana and have their capital sources thoroughly verified under BoG oversight.

     

    Liquidity management for non-interest institutions will be guided by asset-backed structures and risk-sharing models rather than conventional interest-based instruments, but will still meet the same prudential benchmarks.

     

    Inter-Agencies collaboration:

     

    BoG is collaborating with the Securities and Exchange Commission (SEC) and National Insurance Commission (NIC) to harmonize regulations on Sukuk (non-interest bonds) and Takaful (non-interest insurance). Professor Gatsi explained that a joint committee has been formed to ensure synchronized guidelines across banking, capital markets, and insurance sectors.

     

    This development is expected to attract new investment flows, promote ethical banking, and contribute to Ghana’s financial stability.

     

    Experts remarks:

     

    According to industry experts, Ghana’s measured approach was prudent and well timed.

     

    Nigeria’s non-interest banking sector, anchored by institutions such as Jaiz Bank and TAJBank, faced early skepticism but has since demonstrated strong performance and resilience within a secular regulatory framework guided by strong governance and public education.

     

    Attahiru Maccido, Managing Director and Chief Executive Officer of One 17 Capital Limited in Nigeria, explained that non-interest finance models could help Ghana mobilize patient capital for long term sectors such as infrastructure, agriculture, and small business development. He emphasized that non interest banking represents not just an alternative form of finance but a tool for inclusive growth and financial stability.

     

    Meanwhile, Dr. Shaibu Ali, Director General of the Islamic Finance Research Institute of Ghana, emphasized that non-interest banking transcends merely removing interest to redefine financial ethics. Every transaction must have an underlying asset, and speculative or unethical activities are strictly prohibited. Citing recent research, he observed that while 71 percent of Ghanaians are aware of non-interest banking, fewer than 30 percent fully understand how it works, highlighting the need for capacity building and professional certification.

     

     

    Commercial banks readiness

     

    From the commercial banking perspective, Sina Kamagate, Executive Head of Retail Banking at GCB Bank PLC, pointed out that demand already exists for ethical and interest free products. GCB Bank has customers who decline interest payments on their accounts, demonstrating that offering non-interest banking services will expand inclusion and cater to these customers’ values.

     

    From his side, Kwame Abbey, Deputy Managing Director at Société Générale Ghana, has highlighted six key opportunity areas including retail inclusion, small and medium enterprise (SME) and agricultural finance, infrastructure funding through Sukuk, ethical and environmental, social, and governance (ESG) linked finance, digital innovation, and capacity development. He stressed that non-interest banking aligns closely with sustainable finance and could attract new investment flows into Ghana’s economy because it prohibits speculative activities and encourages real asset linkages.

     

    Consequently, Robert Dzato, Chief Executive Officer of CIB Ghana, has reiterated the Institute’s commitment to professional development and ethical banking standards.

    He announced that CIB Ghana will lead in developing capacity building programmes to deepen understanding of non-interest banking among practitioners and regulators. A new certification programme on Non Interest Banking will be launched as part of the 2025 Bankers’ Week celebration.

     

    By Adnan Adams Mohammed

  • Reformed VAT Bill passed as COVID-19 Levy and others abolished

    Reformed VAT Bill passed as COVID-19 Levy and others abolished

    Ghana’s Parliament has passed the Value Added Tax (VAT) Bill, 2025, marking a significant overhaul of the country’s VAT regime.

    The new law replaces the existing flat-rate system with a unified structure, aiming to simplify the tax framework and improve clarity, consistency, and legal certainty.

    However, some stakeholders, like the Ghana Union of Traders Associations (GUTA), have raised concerns about potential unfair competition and market distortions.

    “The reforms will make compliance easier, not harder, and will not introduce new tax burdens on businesses or consumers”, Deputy Finance Minister, Thomas Nyarko Ampem, said while dismissing these concerns.

    The reforms fulfil a major pledge announced by the government in the 2025 Budget and Mid-Year Fiscal Policy Review to make Ghana’s VAT system fairer, simpler, and more growth-focused.

    The Finance Minister, Dr Cassiel Ato Forson, who led the policy revisions, said the new legislation will remove distortions, reduce cascading effects, promote compliance, and improve economic efficiency for businesses and households.

    “We promised to abolish the COVID-19 levy. With the support of this House, I am happy to announce today that it is abolished,” Dr Forson declared on the floor of Parliament.

    Under the new VAT structure, the COVID-19 levy is removed entirely and is expected to return GH¢3.7 billion to individuals and businesses in 2026 alone.

    The bill also abolishes the decoupling of the Ghana Education Trust Fund (GETFund) and the National Health Insurance Levy (NHIL) from the VAT base, meaning both are now eligible for input tax deductions, a change projected to reduce the cost of doing business by about 5 per cent.

    The government says that cumulatively, the full reform package will give back nearly GH¢6 billion to the Ghanaian economy.

    Other approved measures under the VAT Bill include:

    • Abolition of VAT on mineral reconnaissance and prospecting, aimed at reviving exploration investment and reversing years of stagnation in greenfield development.

    • Reduction of the effective VAT rate from 21.9 per cent to 20 per cent.

    • Increase in the VAT registration threshold from GH¢200,000 to GH¢750,000, relieving thousands of micro and small enterprises from mandatory VAT compliance.

    • Extension of zero-rated VAT on locally manufactured textiles to December 2028, protecting more than 2,000 jobs and enhancing competitiveness in the domestic garment market.

    According to the Finance Minister, the previous taxation threshold had eroded significantly in real value since 2015, forcing many micro-businesses into VAT registration and raising administrative costs.

    The new threshold, he said, restores fairness and frees small enterprises to grow without heavy compliance burdens.

    Dr Forson emphasised that the VAT overhaul goes beyond tax adjustments, positioning Ghana for a digitally enhanced revenue future.

    The rollout will introduce Fiscal Electronic Devices (FEDs) to track taxable transactions, digital VAT collection on cross-border e-commerce, and a new VAT reward scheme encouraging consumers to demand receipts and help police compliance.

    The government believes these interventions will boost investor confidence, support local industry, and stimulate job creation, particularly in mining and textiles, where policy distortions have long restricted growth.

    “These reforms mark a turning point in Ghana’s value-added tax administration,” the Finance Minister said. “This is not just a tax reform, it is a step toward a more just, predictable, and business-friendly economy.”

    The Ghana Revenue Authority has begun a nationwide sensitisation campaign ahead of implementation, ensuring businesses and consumers are fully prepared for the transition.

    The passage of the VAT Bill, 2025, signals a decisive shift in Ghana’s tax policy, one aimed at easing the cost of doing business, empowering industry, and anchoring long-term fiscal stability.

    Demands for broader dialogue on new VAT reforms

    Meanwhile, the Africa Centre for Tax Policy Research (ACTOR) is calling for a structured dialogue between the Ghana Union of Traders Associations (GUTA), the Ministry of Finance, and the Ghana Revenue Authority (GRA) over the government’s new VAT reforms and the planned rollout of Artificial Intelligence (AI) systems at the ports.

    GUTA has raised concerns that the new VAT threshold of GH¢750,000, which requires businesses exceeding it to pay 20% VAT, could create unfair competition, splitting the market between traders who charge VAT and those who do not.

    Reacting to the call in a statement issued on 24th November, 2025, the policy think tank, ACTOR, said the threshold is not ‘a sudden hike but a return to the long-standing real value of VAT entry points when Ghana’s volatile exchange rate is considered.’

    The think tank explained that VAT thresholds exist in Ghana and globally to protect small businesses and allow tax authorities to focus on medium and large taxpayers who generate the most revenue.

    ACTOR noted that the dollar value of the threshold has remained stable over the years, with the proposed GH¢750,000 roughly equivalent to USD 62,500 within historical ranges. Their analysis also showed the real price difference between VAT-registered and non-registered traders is about 1.5%.

    The think tank also disagreed with GUTA’s suggestion that all traders should be allowed to opt into the Modified Tax System (MTS), saying thresholds cannot be optional without risking system collapse. The MTS, ACTOR stressed, is meant only for micro and small businesses below the VAT threshold.

    While defending the reform, ACTOR acknowledged traders’ concerns and urged the GRA to strengthen monitoring and turnover verification to prevent VAT evasion.

    The group concluded that strong collaboration among stakeholders is key to a smooth rollout, minimising market distortions and building trust in the tax system.

     

    By Adnan Adams Mohammed

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

  • PPP gaining attention for impact on national growth amidst BIG PUSH agenda

    PPP gaining attention for impact on national growth amidst BIG PUSH agenda

    Ghana is witnessing a growing interest in Public-Private Partnerships (PPPs) as a means to drive national growth and development.

    The Vice Chancellor of Methodist University Ghana, Prof. William Baah Boateng, has emphasized the need for a stronger governance framework to guide PPPs, citing their potential to facilitate infrastructure development, job creation, and sustainable growth.

    Speaking at the 10th Ghana Corporate Executives Awards, last week in Accra, he said effective public private collaborations have the potential to become “vehicles for trust, efficiency, and sustainable impact” when properly structured and monitored.

    “Public private partnerships facilitate infrastructure development and service provision without relying solely on public budgets. A working PPP (framework) will promote job creation, technology transfer, and sustainable development,” he intimated.

    Prof. Boateng indicated that while the private sector provides efficiency and innovation, the public sector ensures legitimacy and protects the public interest hence a strong alliance between the two sectors can create lasting public value when guided by robust governance.

    Ghana’s infrastructure quality score currently stands at 47 out of 100 about 10 points below the average for lower-middle-income countries, and the country invests roughly 5 percent of GDP in infrastructure, slightly below peers who average 5.4 percent.

    Also, Prof. Kwaku Appiah-Adu, a policy consultant and professor of strategy at GIMPA, believe PPPs are indispensable for modern governance, allowing governments to harness private creativity, efficiency, and capital while maintaining regulatory oversight.

    Government Initiatives:

    Big Push Agenda: The government is expanding road networks, upgrading rail, air, and seaport facilities, and promoting sustainable mass transit systems which need major funding such as the PPP arrangement.

    Transportation Modernization: The government aims to modernize Ghana’s transport infrastructure to improve market access, enhance competitiveness, and support long-term economic growth.

    The Chartered Institute of Logistics and Transport has emphasized the importance of efficient logistics and transport systems in positioning Ghana as a competitive logistics hub. The success of government policies, including the 24-hour economy, hinges on the efficiency of supply chains and the robustness of the country’s logistics networks.

    Speaking on behalf of the Transport Minister at the Chartered Institute of Logistics and Transport’s Conference and Annual General Meeting, Director of Human Resources at the Ministry, Nathaniel Amonoo Wilson, said the agenda includes expanding road networks under the Big Push initiative, upgrading rail, air and seaport facilities, and promoting sustainable mass transit systems.

    He noted that these interventions are central to improving market access, enhancing competitiveness, and supporting long-term economic growth.

    “As we all know, transportation is a key driver of trade, both between nations and within them, promoting socioeconomic growth and development. Transport services are crucial for accessing global markets, improving international trade, and attracting foreign investment. For this reason, the need to develop a seamless, integrated transport system must remain a strategic priority to influence our growth and development.

    “The government is therefore embarking on a sustained programme to improve and modernize transport infrastructure and services through road network rehabilitation and expansion under the Big Push Agenda, railway rehabilitation and redevelopment, expansion and rehabilitation of our air and sea ports facilities, and the promotion of sustainable mass transportation systems,” he said.

    Presidential Advisor and Special Aide to the President, Joyce Bawah Mogtari, also underscored the government’s commitment to building a business-friendly environment that supports private sector growth.

    She noted that efficient logistics and transport systems will be central to positioning Ghana as a competitive logistics hub.

    “As a government, our priority remains to build a business-friendly environment that promotes investment, innovation, and sustainable logistics systems. Through targeted policy reforms, infrastructure upgrades, and partnerships with the private sector from port modernization and corridor development to railway and inland water transport revitalization we are laying the foundation for Ghana to become a regional logistics hub. These interventions reflect our belief that a resilient and efficient logistics system is central to achieving industrial growth, food security, and job creation,” she said.

    President of the Chartered Institute of Logistics and Transport, Mark Amoamah, on his part says the success of government policies including the 24-hour economy will hinge on the efficiency of supply chains and the robustness of the country’s logistics networks.

    “Ghana stands at a critical crossroad as the government strives to reset our nation and implement the 24-hour economy for the benefit of all. The efficiency of our supply chains, the robustness of our logistics networks, and the modernity of our transport infrastructure are key determinants of the success of these policies. This theme challenges us, as leaders and professionals, to move beyond discussing problems but to start engineering concrete, implementable solutions that will truly unlock our nation’s economic potential,” he remarked.

     

    By Adnan Adams Mohammed

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

  • Policy rate cut to spur job creation – Dr Ato Forson

    Policy rate cut to spur job creation – Dr Ato Forson

    Ghana’s Finance Minister, Dr. Cassiel Ato Forson, has hailed the Bank of Ghana’s decision to cut the policy rate to 18%, the lowest since March 2022, as a “major milestone” in the country’s economic recovery.

    The Monetary Policy Committee (MPC) of the Bank of Ghana reduced the policy rate by 350 basis points, citing growing stability in the economy and declining inflation levels, which currently stand at 8% as of October, down from 27% in November 2024.

    Dr. Forson believes this move will boost lending, ease credit pressures on businesses and households, and stimulate economic growth.

    “This marks a drastic fall from the 27 percent recorded in November 2024. The move reflects renewed economic confidence, and it means lower borrowing costs, improved access to credit, and greater room for businesses and individuals to grow, invest, and create jobs.”

    “The recovery is clearly strengthening, and it can only get better!” he remarked.

    The Bank of Ghana’s Governor, Dr. Johnson Asiama, announced that the committee is optimistic about maintaining price stability and keeping inflation within the target band.

    “The bank will continue to monitor developments and take necessary policy decisions to ensure sound macroeconomic conditions.”

    The central bank projects a continued stable inflation profile around the target and well into the first half of next year, 2026. This is against the backdrop that current risks in the outlook to shift the path of inflation away from target have moderated significantly.

    Dr. Asiama added that the prevailing high real interest rate provides some room to ease policy to further boost the current growth recovery efforts.

    “Given these considerations, the committee, by majority decision, voted to lower the monetary policy rate further by 350 basis points to 18.0%”, he announced.

    “We have one additional measure. In addition to the policy rate reduction, the bank will now return to the use of the 14 day bill as its main instrument for conducting open market operations”.

    Consequently, average lending rates have also fallen sharply to 22.22% in October 2025, from 30.07% in January 2025, making credit more accessible to businesses and individuals, according to the Bank of Ghana’s November 2025 Summary of Economic and Financial Data.

    From 30.07% in January 2025, the average lending rates increased to 30.12% in February 2025, but fell to 29.18% in March 2025.

    It further decreased to 27.40% in April 2025 and then to 26.90% in May 2025. However, it rose marginally to 27.00% in June 2025, but has since taken a dive.

    Additionally, the Ghana Reference Rate has also fallen sharply to 17.86% in October 2025, from 29.72% in January 2025.

    Meanwhile, the average lending rates vary among the banks and the respective sectors they lend to. Some banks offer loans equivalent to the Ghana Reference Rate, whilst others will charge rates as high as 39%.

    This, however, depends on the risk profile of the customers.

     

    By Adnan Adams Mohammed

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

  • Cedi succumbs to market pressure …after a record 32% appreciation as at Nov 2025

    Cedi succumbs to market pressure …after a record 32% appreciation as at Nov 2025

    Ghana’s local currency (Cedi) has begun bowing to market pressure as demand for international trading currencies soars to cover the Christmas festive related imports as the year nears its end.

    The Cedi, which, a fortnight ago, rallied to exchange with the US dollar at below GH¢11, is currently exchanging at GH¢12.10 on the black market as at press time on Friday November 28, 2025, with momentum softening across both the interbank and retail FX markets.

    On the interbank market, the cedi closed at GH¢11.12 to one US dollar, reflecting a 1.80% depreciation from GH¢10.92.

    The pound, however, gained 1.26% to GH¢14.55 against the pound from GH¢14.37, while the euro edged up 1.49% to GH¢12.80 against the euro from GH¢12.61.

    The retail segment showed a similar trend, with the cedi losing 1.24% against the dollar to GH¢ 12.10 to a dollar from GH¢11.95.

    The pound advanced 2.22% to GH¢15.80 from GH¢15.45, while the euro gained 1.09% to GH¢13.80 from GH¢13.65.

    Databank Research, a local financial market analytic firm, expects the cedi to remain under mild depreciation pressure in the near term as forex demand continues to outpace supply across both the interbank and retail markets.

    “Seasonal pressures, particularly year-end corporate settlements and elevated import demand, are likely to keep the currency on the defensive in the coming weeks. In the coming weeks, we anticipate volatility to be contained ahead of the anticipated US$385 million IMF [International Monetary Fund] disbursement in December 2025, which, following the October staff-level agreement, should proceed smoothly”.

    It added that the inflow is expected to bolster reserves and temper depreciation pressures, offering modest support to the cedi as liquidity conditions improve.

    Cedi records 32% appreciation

    According to the Bank of Ghana’s November 2025 Summary of Economic and Financial Data, the cedi has recorded a 32.2% appreciation against the US dollar in the 11 months of 2025.

    This is compared with 34.4% appreciation in October 2025 and 18.4% in September 2025.

    It also appreciated by 18.8% to the euro on the interbank market in November 2025, going for GH¢12.80. However, it lost huge value between July and September 2025.

    For the pound, the cedi also gained 26.4% in value. It consequently sold at GH¢14.55 on the interbank market.

    On the interbank market, the cedi closed at GH¢11.12 to one US dollar, reflecting a 1.80% depreciation from GH¢10.92.

    The retail segment also showed a similar trend, with the cedi losing 1.24% against the dollar to GH¢ 12.10 to a dollar from GH¢11.95.

     

    By Adnan Adams Mohammed