News Guide Africa

Tag: 24-hour economy

  • Infrastructure vs. escalating costs: Ghana’s aviation sector at a crossroad

    Infrastructure vs. escalating costs: Ghana’s aviation sector at a crossroad

    By Adnan Adams Mohammed

    The vision to transform Kotoka International Airport (KIA) into West Africa’s primary aviation gateway reached a critical crossroads this week during the 5th Aviation Ghana Breakfast Meeting.

    The Managing Director of the Ghana Airports Company Limited (GACL), Yvonne Nana Afriyie Opare, issued a strong call for enhanced international connectivity, while industry stakeholders sounded the alarm over proposed levies that could make Ghana one of the world’s most expensive destinations for air travel.

    Speaking during a high-level panel themed “Advancing Ghana’s Aviation Sector,” Mrs. Opare emphasized that becoming a hub requires more than just state-of-the-art buildings; it requires deliberate connectivity.

    “We often talk about Ghana becoming the aviation hub… Number one is connectivity in the region,” she stated, noting that intra-African travel remains notoriously inefficient. Mrs. Opare drew comparisons to Ethiopia’s capital, pointing to Addis Ababa as the gold standard for a transit hub that links a continent to the world.

    “Innovation beyond aircraft” to fuel 24-hour economy

    Deputy Minister for Transport, Dorcas Affo-Toffey, has challenged the Ghana Airports Company Limited (GACL) to look past traditional aeronautical operations and unlock the commercial potential of airport lands to drive the government’s “24-hour economy” agenda.

    During a high-profile familiarization tour of GACL and the Ghana Civil Aviation Authority (GCAA) on Thursday, February 12, the Deputy Minister emphasized that the vast real estate surrounding Ghana’s airports remains an untapped goldmine for non-aeronautical revenue.

    Expanding the revenue horizon

    The visit served as a platform for the Ministry to reiterate its “Resetting Agenda,” focusing on financial sustainability through commercial diversification.

    “I am here to encourage you to be more innovative and look beyond just aircraft operations,” Madam Affo-Toffey told GACL management. “Fully utilize our airport land and facilities for commercial purposes to create jobs and support the 24-hour economy.”

    Infrastructure upgrades on the horizon

    To support this ambition, GACL is moving forward with several major projects:

    Terminal 2 & 3 Link: A new concourse will connect the terminals to ensure seamless airside transfers.

    Expansion Opportunities: The concourse will house 4 to 5 new lounges and retail spaces, with GACL inviting airlines to submit proposals for private lounges.

    Northern Apron: Construction of a 10-aircraft capacity parking bay is set to restart after a four-year funding hiatus.

    Regional Growth: Rehabilitation of the Sunyani Airport and new projects in Bolgatanga and Wa are also in the pipeline.

    The Cost: Is Ghana Pricing Itself Out?

    While infrastructure plans were met with optimism, the mood shifted as airline representatives addressed the Airport Infrastructure Development Charge (AIDC), scheduled to take effect on April 1, 2026.

    Stellamaris Ndunge, representing the Board of Airline Representatives Ghana (BAR-GH), warned that the new US$100 levy on return tickets would be a “deterrent” to growth.

    A Comparative Look at Airport Charges

    If implemented, Ghana’s total departure charges would skyrocket, potentially diverting traffic to cheaper regional hubs like Lomé or Abidjan.

    Region/Category Average Return Trip Charge (USD)

    Global Average $30 – $34

    African Average ~$68

    West African Average ~$110

    Ghana (Post-April 2026) $243

    “This new fee will catapult Ghana into the top 10 most expensive countries globally,” Ndunge warned. Locally, Ghana is projected to jump from the 9th to the 3rd most expensive country in Africa, trailing only Gabon and Sierra Leone.

    Balancing growth and affordability

    The government maintains that the AIDC is a necessary evil. Revenue from the US$100 international and GH¢100 domestic charge will be held in a dedicated escrow account managed by the Ministry of Transport, strictly for infrastructure development.

    However, Kamil Al-Awadhi, IATA Vice President for Africa and the Middle East, urged Ghana to align with ECOWAS directives, which recently called for a 25% reduction in passenger charges by 2026. He emphasized that for aviation to be a catalyst for economic expansion, it must remain competitive.

    As the April deadline approaches, the industry remains locked in a debate: can Ghana build a world-class hub if the cost of landing there is world-highest?

     

     

     

  • GRA unleashes 26-Member Strike Force to tackle 60% VAT gap

    GRA unleashes 26-Member Strike Force to tackle 60% VAT gap

    By Adnan Adams Mohammed

    The Ghana Revenue Authority (GRA) has officially declared war on tax evasion, inaugurating a specialized Compliance and Enforcement Unit to chase down businesses failing to remit Value Added Tax (VAT).

    The move comes after a startling audit revealed that nearly 60 out of every 100 businesses visited in recent months are either not registered for VAT or are collecting the tax from consumers without remitting a single pesewa to the state. This “leakage” is a major hurdle for the GRA as it pursues a massive GH¢225 billion revenue target for 2026.

    The new 26-member team, housed under the Domestic Tax Revenue Division (DTRD), has a singular mandate: to ensure the reformed VAT Act, 2025 (Act 1151), which took effect on January 1, is strictly followed.

    Commissioner-General Anthony Kwasi Sarpong warned that the era of “voluntary ignorance” is over.

    “Others take from customers but fail to remit to the GRA. Our eyes are open, and we are coming with the full strength of our service,” Sarpong stated. “Those who cooperate will be dealt with professionally, but we must close this gap.”

    Carrots and Sticks: The 2026 Strategy

    The GRA isn’t just relying on enforcement; it is combining the “stick” of the new task force with the “carrot” of modern technology and rewards.

    ● The Stick: The Enforcement Team will conduct unannounced market sweeps and audits to identify defaulters.

    ● The Carrot: A National VAT Reward Scheme is launching this year, incentivizing customers to demand receipts in exchange for prizes, effectively turning every consumer into a tax inspector.

    ● The Tech: Increased automation and E-VAT APIs are being deployed to make it harder for businesses to hide transactions.

    Key 2026 VAT Reforms Previous Status Current Status (Act 1151)

    Registration Threshold GH¢200,000 GH¢750,000 (for goods)

    Effective VAT Rate 21.9% 20%

    COVID-19 Levy 1% Abolished

    Flat Rate Scheme 3% Retail Abolished

    A Call for Professionalism

    The Commissioner for Domestic Tax Revenue, Dr. Martin Yamborigya, urged the new team to maintain high ethical standards while being firm. He stressed that while the goal is revenue mobilization, the rights of taxpayers must be respected.

    “The introduction of the new VAT Act reflects the government’s determination to modernize our tax system,” Yamborigya said. He encouraged businesses with genuine challenges to engage the GRA directly rather than waiting for the enforcement team to arrive at their doorstep.

    Impact on the 24H⁺ Programme

    The success of this enforcement drive is critical to funding the government’s 24H⁺ (24-Hour Economy) initiatives. With the removal of the cascading tax effect, compliant businesses are now able to claim GETFund and NHIL as input credits a move designed to reduce production costs and, ultimately, lower prices for the Ghanaian consumer.

     

     

     

     

  • Ghana looks to Australia as it plans 24-hour economy

    Ghana looks to Australia as it plans 24-hour economy

    Ghana says it is drawing lessons from Australia as it moves ahead with plans to introduce a 24-hour economy, aimed at boosting productivity through multi-shift labour systems.

    The Minister for Lands and Natural Resources, Emmanuel Armah Kofi-Buah, said Australia’s experience, particularly in its service and industrial sectors, offers valuable insights as Ghana explores ways to expand economic activity beyond traditional working hours.

    Speaking at celebrations to mark Australia Day in Accra, the minister reaffirmed Ghana’s appreciation for Australia’s long-standing investment and development support, especially in the extractive sector.

    “Ghana deeply appreciates Australia’s meaningful contribution to our development, particularly in the extractive sector where Australian companies have played an important role through responsive investment,” he said.

    Mr Kofi-Buah also welcomed the planned launch of the Australian Centre for International Agricultural Research office in Accra, describing it as a sign of Australia’s forward-looking engagement with Ghana and Africa.

    He said the new office would strengthen collaboration in key areas such as climate change adaptation, food security and agricultural development.

    Australia’s High Commissioner to Ghana, Berenice Owen-Jones, pledged continued commitment to deepening relations between the two countries. She noted that the global environment is facing growing uncertainty, with increasing pressure on the international rules-based order.

    “This moment requires more diplomacy,” she said, adding that Australia would continue to work through existing and new coalitions, as well as within multilateral institutions. Ms Owen-Jones said both Ghana and Australia share both an opportunity and a responsibility to support each other as they navigate global challenges and pursue sustainable development.

    The Ghana–Australia relationship has strengthened over the years through trade, investment, and development partnerships. Australia has been a key partner in Ghana’s extractive and agricultural sectors, while both countries continue to collaborate on education, climate initiatives, and capacity building.

    Officials from both nations say that the relationship is underpinned by shared values, mutual respect, and a commitment to promoting sustainable economic growth in Africa.

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

  • Ghana’s private sector gears up for a transformative 2026

    Ghana’s private sector gears up for a transformative 2026

    After a fortnight of quiet on market floors and in boardrooms during the end of 2025 holidays and accompanying festivities, key stakeholders across various sectors of Ghana’s economy are gearing up to return with a renewed focus on translating policy traction into real business outcomes.

    The headwinds of a slower festive trading period are already fading from view as firms, as a result of various year end corporate retreats, have aligned strategies with government priorities designed to keep the economy active around the clock and across industries.

    At the heart of the buzz is the government’s 24-Hour Economy and Accelerated Export Development Programme, officially launched in mid-2025. The initiative aims to reposition Ghana’s economy to “operate at full productive capacity by extending economic activity beyond traditional hours” and to turbo-charge export competitiveness through deeper value chains and market efficiency.

    Under the policy’s design — supported by an investment envelope of about US$4 billion, with government laying US$300 million-US$400 million in seed capital and leveraging private sector participation — business leaders are planning to exploit business opportunities they are identifying in manufacturing, logistics, and agricultural processing, as the enterprises they run get ready to resume full activities from next week.

    With the national budget allocating GH¢110 million for 24-Hour Economy implementation in 2026 and GH¢245 million for agriculture and agro-industrial value chain development, the government has signaled continuity in support for private sector-led growth.

    Executives across industries have been reporting increased engagement with government bodies to align business plans with policy incentives over the past month. Margaret Ansei, CEO of the Ghana Enterprises Agency, has assured that the agency is positioning micro, small, and medium enterprises to scale production, improve packaging and meet export standards as part of 24-Hour Economy readiness.

    Thr government’s Feed Ghana initiative is also generating strong business interest as 2025 transitions into 2026. Banks and financial institutions are lining up behind the agenda. Edward Ato Sarpong, Managing Director of Agricultural Development Bank (ADB) PLC, recently described the Feed Ghana initiative as “precisely the type of intervention that will motivate us to innovate, make deliberate investments, and accompany agribusinesses on their paths to growth and expansion.”

    The Feed Ghana initiative – a flagship programme under the broader agricultural transformation agenda – continues to resonate with corporates and small enterprise alike. Designed to enhance food production, strengthen value chains and reduce reliance on imports, Feed Ghana is expected to contribute not only to national food security but also to economic dynamism.

    The private sector is enthused by the commitment government has already shown. In 2025, government efforts saw direct interventions, such as the purchase of tomatoes and onions to support the programme in Asante Akim North, which not only reduced post-harvest losses but also supplied local institutions. Also, Feed Ghana’s initial pilot of 500 acres of maize is set to expand to 2 000 acres by September 2026; and beyond primary production, government has backed projects such as a US$400 million integrated poultry and feed processing facility in the Ahafo Region, aimed at reducing the nation’s poultry import bills while creating jobs and anchoring export capacity.

    These agricultural policy drivers have been welcomed by agribusiness financiers and industry bodies alike, even as calls persist for strengthening implementation at the district and local levels.

    Indeed, business leaders are urging swift and seamless execution of government’s three flagship business initiatives. Dr Humphrey Ayim-Darke, President of the Association of Ghana Industries (AGI), has warned that operational success depends on reliable infrastructure, consistent regulation and enabling policies that reduce barriers to continuous production.

    “The 24-Hour Economy isn’t simply about longer hours of operation,” said Davies Korboe, President of the Federation of Ghanaian Exporters. “It must enhance value addition and strengthen Ghana’s capacity to produce for local consumption and exports. That focus is what will transform productivity.”

    For many in the private sector, the policy’s emphasis on production transformation, supply chain efficiency and human capital development offers a blueprint to boost output, employ more people and attract long-term investment. A Presidential Committee on Accelerated Export Development has been spearheading coordination between government and the private sector to translate these ambitions into actionable programmes.

    As Ghana transitions into an industrious 2026, the convergence of ambitious national programmes and private sector innovation could mark a defining chapter in its economic development. Business leaders return from the festive period with strategic plans to capitalize on new opportunities, expand into export markets and harness policy-backed incentives.

    With coordinated efforts between state and enterprise, Ghana is gearing up not just to restart the economy in January, but to redefine it — around the clock, across value chains and beyond borders.

     

    By Toma Imirhe

     

     

  • NPA to kick-start 24-Hour fuel stations services in Osu today …amid tightened security

    NPA to kick-start 24-Hour fuel stations services in Osu today …amid tightened security

    The National Petroleum Authority (NPA) is set to launch 24-hour fuel stations in Osu, Accra, starting December 22, as part of Ghana’s 24-hour economy initiative.

    The NPA is collaborating with security agencies, including the Fire Service, Police, and National Intelligence Bureau, to prevent and respond to incidents.

    Godwin Edudzi Tameklo, NPA Chief Executive, has emphasized the importance of safety and security, stating, “Petroleum is a hazardous product, and we cannot afford to overlook safety concerns.”

    “We will need the active involvement of the National Intelligence Bureau, alongside the NPA’s intelligence unit and other security agencies to combat all forms of fuel-related crimes,” Tameklo told journalists at a meet the press event last week.

     

    As part of safety and security measures in response to major concerns identified, the Authority is to ensure fuel stations deploy automated dispensers at selected fuel stations; specialized training programs for security personnel to tackle petroleum-related offenses; and ensure continuous operation of bulk storage facilities and depots.

    The initiative aims to boost economic activity, improve fuel accessibility, and create jobs. The NPA has conducted nationwide tours to assess operational conditions and identify areas for improvement.

    “We’re working closely with security agencies to ensure the highest levels of safety and security at these stations,” Tameklo assured.

     

    By Adnan Adams Mohammed

     

     

     

     

     

     

     

     

  • Ofori Atta’s 20% Killer Tax Destroying 24-Hour Industrialization ….as excise duty on natural juices to worsens health, jobs, and Ghana’s industrial ambitions

    Ofori Atta’s 20% Killer Tax Destroying 24-Hour Industrialization ….as excise duty on natural juices to worsens health, jobs, and Ghana’s industrial ambitions

    The 20% excise duty on natural fruit juices, introduced as a revenue and health measure, is quietly undermining Ghana’s national objectives, including agro-industrialization, job creation, and the 24-Hour Economy.

     

    According to experts, the tax is weakening local industry, discouraging healthy consumption, and blocking Ghana’s path to import substitution and export growth. Natural fruit juice is not a “sin product” and should not be taxed as such.

     

    The excise duty is having a devastating impact on the local juice industry, with factories operating at 30-45% capacity, resulting in job losses and lost revenue. The tax is also protecting imports, increasing forex leakage, and adding pressure on the cedi.

     

    Ghana is missing out on a significant export opportunity, with global demand for natural and functional beverages growing at 6-8% annually. The excise duty is raising production costs, weakening price competitiveness, and discouraging long-term export contracts.

     

    The tax is also having a negative impact on public health, discouraging consumption of natural fruit nutrition and pushing consumers toward cheaper, highly sweetened alternatives.

     

    Experts argue that the tax is a structural brake on Ghana’s development and urge the government to remove or restructure it to unlock growth, protect health, and secure up to US$ 1 billion in annual export earnings.

     

    READ FULL ARTICLE BELOW:

     

     

    20% Excise Duty on Natural Juices: A Blow to Health, Jobs, and 24-Hour Industry( OFORI ATTA KILLER TAX)

     

    Ghana’s ambition to industrialise through agriculture, create jobs, stabilise the cedi, and build a 24-Hour Economy depends heavily on agro-processing. Yet one policy—the 20% excise duty on natural fruit juices—is quietly undermining these national objectives.

     

    Introduced as a revenue and health measure, the tax is producing the opposite effect: weakening local industry, discouraging healthy consumption, destroying value-chain jobs, and blocking Ghana’s path to import substitution and export growth.

     

    Natural Fruit Juice Is Not a “Sin Product”

     

    Excise duties are traditionally reserved for alcohol, tobacco, and highly sweetened or harmful products. Natural fruit juices—especially 100% juice, not-from-concentrate (NFC), and fibre-rich blends—do not fall into this category.

     

    They are produced from Ghana-grown pineapples, oranges, coconuts, mangoes, passion fruits, and other crops. They contain vitamins, fibre, antioxidants, and essential nutrients. Taxing them as if they were unhealthy beverages sends a dangerous signal: that adding value to agriculture is being penalised rather than encouraged.

     

    How the Excise Duty Weakens Agro-Industrialisation

     

    Local juice processors already face high production costs:

     

    Expensive energy and water

     

    Imported packaging materials

     

    High interest rates on industrial finance

     

    Seasonal and perishable raw materials

     

     

    Adding a 20% excise duty raises shelf prices sharply, making Ghana-made juices less competitive than imported concentrates, powdered drinks, and artificial beverages. As demand falls, factories are forced to operate at 30–45% capacity instead of an efficient 70–85%.

     

    This under-utilisation has serious consequences: farmers lose reliable offtake, fruits rot in the fields, factories cut shifts, and bank loans become stressed.

     

    The FX Cost: Import Substitution Lost

     

    Ghana currently spends an estimated USD 350–450 million annually importing beverage concentrates, powdered drinks, and sweetened alternatives that could be produced locally.

     

    With a supportive tax regime, natural juice processing could realistically achieve 30–40% import substitution within 3–5 years, resulting in:

     

    USD 120–180 million in annual foreign-exchange retention

     

     

    Instead, the excise duty protects imports, increases forex leakage, and adds unnecessary pressure on the cedi—directly contradicting macro-economic stabilisation efforts.

     

    A Missed Export Opportunity of Up to USD 1 Billion

     

    Global demand for natural and functional beverages is growing at 6–8% annually, particularly in Africa, the Middle East, Europe, and North America. Ghana is well positioned to serve these markets.

     

    With 6–8 scaled juice and functional beverage factories, Ghana could achieve the following medium-term (3–5 year) export potential:

     

    Pineapple juice & NFC: USD 250–300 million

     

    Citrus juice & concentrates: USD 200–250 million

     

    Coconut water & blends: USD 150–200 million

     

    Functional and fibre juices: USD 100–150 million

     

     

    Total potential export inflows: USD 700 million to USD 1 billion annually.

     

    However, the excise duty raises production costs, weakens price competitiveness, and discourages long-term export contracts—effectively taxing away a future export industry before it matures.

     

    Jobs: The Greatest Casualty

     

    Natural juice processing supports one of the widest employment ecosystems in Ghana’s agro-industry.

     

    A single medium-scale juice factory (10–15 tons per hour) supports:

     

    600–900 direct jobs (factory workers, engineers, quality control, logistics)

     

    8,000–20,000 indirect jobs (farmers, aggregators, transporters, suppliers)

     

     

    At national scale (6–8 factories), Ghana could sustain:

     

    5,000–7,000 direct industrial jobs

     

    60,000–120,000 indirect value-chain jobs

     

    Total: 65,000–127,000 jobs, largely for youth and women

     

     

    Reduced factory throughput caused by excise-driven price suppression wipes out tens of thousands of these livelihoods.

     

    Taxing Nutrition, Increasing Health Costs

     

    Higher juice prices discourage consumption of natural fruit nutrition and push consumers toward cheaper, highly sweetened alternatives. Over time, this contributes to rising cases of diabetes, hypertension, obesity, and micronutrient deficiencies.

     

    Any short-term excise revenue risks being outweighed by:

     

    Lost PAYE and corporate taxes

     

    Higher NHIS and public health costs

     

    Increased unemployment-related social pressure

     

     

    This creates a negative fiscal multiplier.

     

    A Direct Contradiction to the 24-Hour Economy

     

    Agro-processing is a natural anchor of Ghana’s 24-Hour Economy. Juice factories are designed for continuous operations, multiple shifts, and year-round conversion of perishable crops into stable products.

     

    At full capacity, a single factory can run three shifts and support thousands of livelihoods. By suppressing demand and throughput, the excise duty eliminates night shifts and kills one of the fastest “quick wins” of the 24-Hour Economy vision.

     

    A Smarter Policy Path

     

    Ghana does not need to choose between revenue and development. A better approach would:

     

    Zero-rate or exempt 100% natural fruit juices

     

    Apply excise strictly to sugary and artificial beverages

     

    Support export-oriented agro-processors

     

    Align tax policy with nutrition, jobs, and industrial growth

     

     

    Conclusion

     

    The 20% excise duty on natural fruit juices is not just a tax—it is a structural brake on Ghana’s development. It undermines agro-industrialisation, destroys jobs, worsens public health outcomes, blocks import substitution, and delays the success of the 24-Hour Economy.

     

    Removing or restructuring this tax is one of the fastest, lowest-cost policy corrections Ghana can make to unlock growth, protect health, and secure up to USD 1 billion in annual export earnings.

    By Rith Aboagye

     

    The choice is clear:

    Tax away a future industry—or unlock it for national prosperity.

  • Ghana’s emergent industrial investment opportunities for 2026

    Ghana’s emergent industrial investment opportunities for 2026

    As direct investors, both domestic and foreign, prepare their investment strategies for 2026, the President John Mahama administration’s bid to achieve both import substitution and non-traditional export expansion presents major opportunities. TOMA IMIRHE provides guidance for investors seeking to take advantage of them

    The twin 24-Hour Economy and Accelerated Export Development initiatives have been explicitly designed by the President John Dramani Mahama administration to shrink the import bill, scale up value-added manufacturing and triple non-traditional export earnings before the end of this decade. For direct investors, both domestic and foreign, the combination creates a rare window of opportunity comprising predictable state support, new financing lines, trade-facilitation reforms and a clear sectoral focus that together lower some of the old entry constraints to the establishment of industrial and export projects.

    A pro-industry, pro-export economic strategy

    Two elements of the government’s programme matter most. First, the 24-Hour Economy, (24+), an operational push to keep factories, processing lines and export services running longer hours, deepen logistics throughput and align public services such as customs and inspection of standards, with continuous trade. Second, the Accelerated Export Development Programme (AEDP) which sets explicit targets and special service windows for exporters and value-adding firms, with budgeted institutional support from the Ministry of Trade, Industry and Agribusiness. Together they are designed to marry both enhanced supply-side incentives in the forms of financing, infrastructure, and regulatory incentives with widened demand-side access made possible by both domestic and export markets development, particularly linkages to the African Continental Free Trade Area (AfCFTA).

    President John Mahama has set a key quantitative target: “We aim to grow Ghana’s non-traditional export earnings from US$3.5 billion annually to at least US$10 billion by 2030.” By this, government is sending clear signals that export-oriented projects and those that rely on high local value added for substituting hitherto imported goods will be prioritized for support.

    At a practical level, three things are changing for the better for investors.

    One is that they now stand to enjoy improved access to development finance and guarantees with Ghana Export-Import Bank (GEXIM) having repositioned to provide instruments such as development loans, guarantees, and both buyer and supplier credit, that bridge typical working-capital and pre-export financing gaps which inhibit manufacturers and agricultural processors.

    The second is streamlined, digitalized export processing and trade facilitation, fast-track inspections and special service windows for small and medium sized enterprises targeting specific export products, and these shorten time-to-market and reduce informal transaction costs.

    The third is government’s prioritization of import-substitution products such as rice, poultry, cement and select consumer goods – with incentives for domestic processing and local inputs, thus creating demand certainty for investors who can supply domestic markets or export-ready products.

    The lowest hanging fruits

    The AEDP and 24-Hour Economy initiatives have already identified several “low-hanging” clusters that should be on any investor’s radar.

    The most internationally competitive for Ghana is agro-processing. This includes rice milling and parboiling, poultry feed and processing, cassava and yam processing for starch and flour, horticulture value chains and fruit processing with regards to pineapple, mango and avocado in particular. These can replace processed agricultural products currently still being imported or staples exported as low-value raw commodities.

    Fast-moving consumer goods offer huge opportunities for investors too. These include packaged foods, edible oils, dairy and beverages where scale and refrigerated logistics can undercut imports. Here again, investors can count on a supportive government.

    Import-substitution opportunities with regards to cement, steel and construction inputs, linked to Ghana’s US$10 billion “Big Push” infrastructural development programme and a rapidly expanding real estate sector present veritable investment opportunities too.

    Then there are the opportunities in light manufacturing and assembly. Textiles and garments with local value-added for African markets and durable household goods where domestic demand and regional exports overlap, present potentially commercially lucrative options.

    Pharmaceuticals and chemicals are targets for local production with Ghana having realized the immense potential that its pharmaceutical industry has for both import substitution and sub-regional export to other West African countries.

    Non-traditional agricultural exports are the other area of immediate, clear opportunity. Potential products in this regard include processed cocoa products, cashew, shea derivatives, processed fishery products and horticulture (chilled/frozen) aimed at high-value markets in Europe and intra-African markets under AfCFTA.

    Taking advantage of financing windows, risk-sharing and incentives

    Investors should seek out deals that can take advantage of Ghana’s financing and investment incentive ecosystem.

    At the centre of this is GEXIM’s development loans, export credit, and guarantees which can be used to de-risk offtake and working capital. Commercial banks and local investment financing syndicates can serve as a key source of investment finance too.

    But blended financing structures combining local bank and development bank debt financing with equity capital are likely to be the most competitive.

    Importantly, there are several tax and non-tax incentives available to investors. AEDP and the Ministry of Finance list special service windows and export acceleration measures. Investors can secure written confirmation on tax treatment, VAT refunds on inputs for exports, and concessions for export zone-based manufacturing based in Export Processing Zones. Public-private procurement and off-taker deals for projects aligned to import substitution – cement for government infrastructure for example – can be structured with government as the off-taker or for anchor orders from private sector clients, in order to reduce demand risk.

    Practical guidance for investors

    There are several practical steps that will materially improve the odds of success for investors.

    One is to do a two-track feasibility analysis, considering both import substitution for domestic markets and exploitation of export markets. This means modelling production plant economics for import substitution in domestic markets at conservative local prices, and separately modelling export returns once product quality and certification are achieved.

    Another is to secure local partners for production inputs and aggregate the supply-chain. Successful projects in Ghana rely on aggregators who can manage raw material quality – such as farmers’ cooperatives for cassava, cocoa, shea, and cold-chain logistics for horticulture. Joint ventures with experienced local processors shorten the time needed to learn the ropes.

    Investors should plan for acceptably high product standards and certification from day one. Non-traditional export markets demand consistent quality so it is prudent to invest in Ghana Standards Authority compliance, Hazard Analysis and Critical Control Point (HACCP) for food, and European Union and United States market certifications early, to avoid costly retrofits.

    New business operations setting up in Ghana, going forward, need to design workforce and shift models for 24-hour operations. The 24-Hour Economy encourages longer operating hours and that affects Human Resource management, requiring shift work wage premiums, local security and transport arrangements. These should be factored into unit economics since businesses that can run two or three-shift models will get better asset utilization and faster payback.

    Investors are also advised to use trade facilitation and digitized export corridors, integrating their IT systems with the digital customs portals as they roll out to avoid paperwork delays.

    Just as importantly as all these, investors should hedge macroeconomic and foreign exchange exposure prudently. While the government is focused on import substitution and expansion of exports, Ghana’s macro-economy remains shaped by fiscal constraints and external financing negotiations. The economy has recently undergone stabilization efforts tied to International Monetary Fund arrangements and faces a delicate balancing act between fiscal consolidation and growth stimulus. Investors should expect some degree of volatility in interest rates and periodic currency pressure, which affect cost and availability of working capital.

    It is advisable to include local currency financing where possible, using GEXIM for partial foreign exchange cover, and structuring export receipts to match foreign-denominated obligations.

    Investors should also connect with local chambers and industry associations such as the Ghana National Chamber of Commerce & Industry, Association of Ghana Industries, exporters’ associations and the likes to stay ahead of operational changes and to access the AEDP special windows

    Planning scalable capital expenditure is also advisable, starting with modular plants that can scale up as the domestic and regional markets pick up.

    The successes investors stand to make

    For investors, success will be plants operating at over70% capacity with stable domestic or growing export sales – preferably both – fueled by transparent trade-processing with digitized customs, and active risk sharing with GEXIM Bank, Development Bank Ghana or commercial financing partners. President Mahama’s public pledge to prioritize export growth signals a political environment that will reward fast-moving investors who align their projects to the 24H+ and AEDP roadmaps.

    Ghana’s new policy architecture offers competitive long-run returns for investors who commit to build local ecosystems founded on raw-material aggregation, skills, standards, and trade logistics. Short-term traders may find themselves victims of macro-economic volatility, but structural investors who align financing, offtake and capacity expansion with multiple shift activities, the AEDP service windows and preferential financing terms, stand to be the winners.

    Ultimately, investors who are evaluating a project, are advised to start with a “policy fit” memo which describes how their proposed plant advances import substitution or export growth, listing the exact AEDP or GEXIM instruments they will need, and attaching a six-month roadmap for certification and digitized customs integration. That exercise alone will reveal whether their plan is opportunistic or investable in Ghana’s new policy era.

     

  • US$1.2 bn factory boom coming to Ghana …40 new factories between 2025–27

    US$1.2 bn factory boom coming to Ghana …40 new factories between 2025–27

    The Ministry of Trade, Industry and Agribusiness estimates that more than 40 medium-to-large manufacturing projects will come on stream between 2025 and 2027, accounting for over US$1.2 billion in investment.

    But even this optimistic projection does not take into account what would be by far the single biggest industrial project of all – the Atuabo Fertiliser Hub, an ambitious plan announced with Qatari partner Aljadad Group that has been reported as a US$5 billion investment to build a urea/ammonia fertiliser complex anchored at the Petroleum Hub in Atuabo in the Western Region.

    However, there are still uncertainties with regards to that mega-project – construction was scheduled to commence in late 2025 but has not, and detailed timelines for phased production start-ups and confirmed capacity remain subject to final investment agreements.

    Nevertheless there are an array industrial factories slated to commence operations next year and the year after. The 2026 budget and Ministry briefings have announced textiles and agro-processing at the centre of the next wave.

    Government has confirmed plans to establish three new garment factories – sited in Bono East, Central and Eastern regions respectively – as part of the 24-Hour Economy industrialization push.

    The finance ministry says the garment initiative alone is expected to create roughly 20,000 direct jobs and will begin operations in 2026, although firm commercial start dates for each plant will depend on the plans of the respective private partners.

    On agro-processing, officials have detailed a programme to operationalize seven agro-processing plants as imminently as 2026, across the Northern, Central, Ahafo, Bono, North East, Bono East and Western North regions – each focused on commodities such as yam, fish, poultry, cashew, rice, shea and palm kernel oil. Analysts support government’s assertion that these plants will both reduce post-harvest losses and provide guaranteed offtake for out-growers.

    Direct employment estimates are smaller per plant – each plant will employ hundreds of people, rather than thousands – but the supply-chain impact that they will generate should amplify their economic impact considerably.

    Ministry statements and recent cabinet-level presentations also point to a wider pipeline involving planned special economic zones and industrial cities such as the proposed Gomoa Central Special Economic Zone.

    There are also targeted investments in metals, rubber and leather processing, and a tranche of smaller value-addition plants financed or supported by the Ghana Exim Bank and other development partners including, notably, two cashew processing plants at Sampa and Aboabo.

    Already, after years of intermittent activity and prolonged rehabilitation talk, the Tema Oil Refinery (TOR) has restarted crude refining operations in the fourth quarter of 2025 following the resolution of financing and operational issues through the recent completion of a significant Turnaround Maintenance project a development that is expected to materially reduce Ghana’s downstream import bill and feed local fuel product supply chains.

    Exact sustainable refining throughput on restart and planned ramp-up schedules are being finalized by TOR and government stakeholders.

    But perhaps the boldest single headline planned project is the Atuabo Fertilizer Hub, an ambitious plan announced with Qatari partner Aljadad Group that has been reported as a US$5 billion investment to build a urea/ammonia fertilizer complex anchored at the Petroleum Hub in Atuabo, close to the gas processing plant from which it intends to draw feedstock for the requisite large power generation on which in will run.

    Government briefings say feasibility work and land arrangements are advanced and that the project is intended to use local gas feedstock and serve both domestic and regional fertilizer demand – which, if realized, would be among the largest industrial investments in the pipeline

    Public sources cite the Ministry’s headline total of 40 projects, involving total investment of over US$1.2billion as an aggregate of announced factories, private-sector commitments and pipeline deals being shepherded by the Ghana Investment Promotion Centre and GEIM Bank.

    But there are important caveats: many projects are still at the commitment, feasibility or early construction stage, meaning financing, off-take contracts, land clearances and utility connections for power, water and gas remain uncompleted and could therefore affect the commencement of actual industrial activity.

    Therefore the timelines given in public statements are plausible but subject to commercial negotiation and macroeconomic headwinds.

    However, if the government’s pipeline delivers even a portion of the projects on schedule, the near term will see more industrial capacity in garments, agro-processing, fertilizer and refining – sectors that raise local value-addition and could reduce import dependence.

    For investors and suppliers, the immediate opportunities are in construction supply chains, auxiliary services (logistics, power, water treatment), and upstream agricultural procurement. For policymakers, the priorities are clear: expedite permits, secure reliable utilities and lock in finance/off-taker agreements so announced projects can move from headline announcements to actual economic output.

     

    By Toma Imirhe

     

     

     

     

     

  • Breaking News: Tema port workers demonstrates over overtime pay dispute amid 24-hour operation 

    Breaking News: Tema port workers demonstrates over overtime pay dispute amid 24-hour operation 

    A demonstration is currently underway at the port involving dock laborers, protesting a discrepancy in overtime pay. The laborers claim their agreed overtime rate for weekend work is 200 GHS per day, but they’re currently being paid the standard rate of 150 GHS.

     

    The dispute is linked to Ghana’s “24-Hour Economy” policy framework, with laborers suggesting a mismatch between policy objectives and implementation. According to Ghana’s Labor Act, overtime pay should be at least 150% of the basic hourly rate, but laborers are demanding the agreed-upon rate.

     

    The Ghana Labor Law stipulates that overtime pay rates should be negotiated and agreed upon by employers and employees. The laborers’ grievance highlights concerns about fair compensation and policy enforcement.

     

    The situation is being monitored, and updates will be provided as necessary.

  • Edudzi Tameklo: Driving Transformative Change in Ghana’s Downstream Petroleum Sector

    Edudzi Tameklo: Driving Transformative Change in Ghana’s Downstream Petroleum Sector

    Ghana’s National Petroleum Authority (NPA) has remained a beacon of regulatory excellence in the West African sub-region under the dynamic and forward-thinking leadership of its Chief Executive Officer, Edudzi Kudzo Tameklo Esq.

     

    Since assuming office he has steered the organisation towards greater heights. Under his leadership and direction, the NPA has achieved several key milestones, reinforcing its commitment to promoting transparency, accountability and sustainability in the petroleum downstream industry.

     

    Streamlined licensing of stations

     

    One of Tameklo’s notable achievements is his firm guarantee of fairness and due process in issuing licences for Petroleum Service Providers (PSPs). This approach is expected to foster a more transparent operating environment in the downstream industry, creating a competitive and level playing field for all sector players.

     

    The NPA has also been pushing for stiffer penalties to clamp down on illegal fuel stations, ensuring a safer and more regulated petroleum sector.

     

    Centre of Excellence

     

    Tameklo’s exceptional leadership has earned him recognition from various stakeholders, including the Anlo Dukor (State) Council.

     

    His transformative approach has been instrumental in advancing the NPA’s vision of becoming a world-class regulator, promoting sustainable development and ensuring the consistent availability of quality petroleum products in Ghana.

     

    The NPA recently launched its 20th anniversary celebrations, marking two decades of regulatory excellence and national impact in Ghana’s petroleum downstream sector. This milestone highlights the role of transparent regulatory governance in fostering national growth and development.

     

    24-hour services

     

    Under Tameklo’s leadership the NPA is also working towards implementing a 24-hour economy pilot project in Osu, aimed at fueling round-the-clock commerce and tapping into the multi-million-dollar night-time economy. This initiative is expected to boost economic growth, create jobs and improve the overall standard of living for Ghanaians.

     

    Collaborative spirit

     

    Tameklo has emphasised the importance of collaboration with industry stakeholders, noting that these engagements have helped reduce market disruptions, improve fuel standards and strengthen consumer protections.

     

    The NPA continues to engage with various stakeholders including industry players, civil society organisations and government agencies to ensure that the petroleum sector is regulated effectively and efficiently.

     

    Exceptional leadership and governance

     

    Tameklo’s leadership has been central to the transformative progress within Ghana’s petroleum sector. His commitment to transparency, accountability and sustainability has earned him recognition as a champion of good governance.

     

    As the NPA continues to regulate the downstream industry it is expected to create a more conducive environment for businesses to thrive, while safeguarding consumer interests and promoting sustained economic growth.

     

    By Adnan Adams Mohammed