Kofi Ahovi

 An aspiring Financial Secretary of the Private Newspapers and Online News Publishers Association of Ghana (PRINPAG), Kofi Ahovi, has donated a box of A4 sheets (comprising five rims) to support the day-to-day administrative activities of the association’s national secretariat. The donation is expected to ease the administrative burden on the secretariat and enhance the efficiency of its work. This gesture comes on the heels of an earlier donation by a PRINPAG presidential aspirant, David Tamakloe, who presented a multipurpose printer to the secretariat.   Kofi Ahovi (left) presenting the box of A4 sheets to Jeorge Kingson, Executive Secretary- PRINPAG Speaking during the presentation, Ahovi explained the motivation behind his support: One of my colleagues has generously donated a printer, but a printer is only as good as the paper it prints on. To ensure the secretariat can make full use of the printer without additional cost, I’m donating paper to complement the effort and s...

  The La Dade-Kotopon Municipal Assembly (LaDMA) has launched a 12-year development plan aimed at transforming the municipality into a sustainable, inclusive, and digitally efficient community. Unveiled in Accra under the theme “Shaping Our Destiny: A Roadmap for Transformation and Prosperity,” the plan targets key areas such as infrastructure, sanitation, job creation, education, healthcare, and digitisation of services. The Assembly aims to create over 5,000 decent jobs, digitise 70% of its services, improve waste management, and enhance climate resilience. Other goals include upgrading schools and health centres and supporting micro, small and medium enterprises (MSMEs). Municipal Chief Executive Alfredos Nii Anyetei praised his predecessor, Solomon Kotey Nikoi, for initiating the idea, and described the plan as the result of inclusive consultations and technical expertise. This is more than a document—it’s our shared blueprint for progress,” he said, calling on government, priv...

  The Electricity Company of Ghana (ECG) in the Volta Region has officially launched a comprehensive Loss Reduction Project (LRP) in the Ho Municipality, marking a significant step towards tackling power theft, reducing commercial losses, and improving electricity service delivery across the region. The initiative, which began this week in the regional capital, forms part of ECG’s broader modernisation strategy aimed at enhancing energy accountability and customer experience. As part of the rollout, smart prepaid meters are being deployed to replace faulty meters, serve paid-up applicants, and transition customers from outdated flat-rate monthly consumption plans. Addressing stakeholders at the launch event in Ho, Ing. Mark Ekor, Ho District Manager of ECG, said the project is designed to enhance customer convenience, improve revenue collection, and increase operational efficiency. This rollout is designed to enhance customer convenience, improve revenue collection, reduce energy l...

  The Bank of Ghana Governor, Dr. Johnson Asiama, has announced plans to embark on a gold hedging programme, targeting a portion of its reserves. According to him, his outfit is targeting all its reserves, but is currently allocating only a fraction, and could take off before the end of this year. Dr. Asiama disclosed this in response to a question by Joy Business on the status on the planned hedging programme. The Governor also revealed that “we are currently engaging some banks that could manage the programme and should take off in months time”. Dr. Asiama added that this programme is part of measures to deal with future price volatilities of the commodity. “We believe that this will help mitigate the expected commodity price volatility that could hit the country in the months, based on some predictions,” the Governor stated. Bank of Ghana’s Gold Reserves Recent data from the Bank of Ghana showed some steady increase in its gold reserves. As of the end of May this year, the Bank ...

 Ghana’s gold industry is enjoying a historic boom. New data from the Bank of Ghana show that gold exports reached $8.3 billion in the first half of 2025, almost double the figure recorded over the same period in 2024, and the highest half-year total since at least 2016. Gold accounted for 64% of Ghana’s total exports of $13 billion between January and June, underscoring its dominance in the country’s trade. Global market conditions have helped. Gold prices have remained elevated throughout the year, currently hovering around $3,290 per ounce. That is slightly below the April peak of $3,500, but well above the 2024 average of $2,300. The rally has been driven in part by global uncertainty following the return of Donald Trump to the White House in January. Concerns over his erratic trade and fiscal policies have pushed investors to seek safety in gold. Central banks, too, are adding to their stockpiles. By the end of 2024, gold had overtaken the euro as the second-largest reserve as...

  PwC has commended the government and the Bank of Ghana for the fiscal and monetary discipline exhibited in the first six months of 2025, particularly the primary surplus achievement, debt reduction, and currency stabilisation. According to the professional services firm, there is a general view that businesses and households are already feeling relief from lower inflation. Indeed, it said in its assessment of the 2025 Mid-Year Review Budget that some retail stores announced price reductions in the wake of lower inflation, but many traders in the informal markets remain adamant about dropping prices. The Minister also reported that private sector lending by banks increased by 31.3% in June 2025 reflecting an easing in the credit market. We summarise the strategy used to achieve these results as follows: fiscal restraint and strong coordination with monetary authorities. Still, it is our view that sustaining the progress posted so far would require careful sequencing of reforms, ef...

  Ghana’s cocoa export earnings have seen a sharp rise in the first half of 2025, nearly tripling compared to the same period in 2024. The earnings in the first half of 2025 exceed total cocoa export earnings in the whole of 2024. According to official data from the Bank of Ghana, the country earned $2.17 billion from cocoa exports between January and June 2025, up from $762.5 million in the first half of 2024. These feats have contributed to an increase in Ghana’s total earnings as well as its trade balance. As of June 2025, Ghana’s trade balance had increased more than threefold compared to the same time last year. But behind this impressive growth lies a growing storm of concern about the sustainability of cocoa production in the country. In an interview with  Reuters , Ghana’s cocoa regulator, COCOBOD, signaled that the country could face a moderate decline in cocoa output this season. The warning follows reports from farmer groups about worsening conditions in key cocoa-g...

 Over the past decades, Ghana has witnessed impressive strides in the development of its mining industry, solidifying the sector’s role as a critical pillar of the country’s economy. Once a small-scale activity, mining has become a national economic “saviour”, driving not only economic recovery programmes and growth but also facilitating broader development in areas such as infrastructure, manufacturing, agriculture, and foreign exchange. As Ghana continues to harness the potential of its mineral resources, the mining value chain, comprising extraction, processing, logistics, and support services, has become increasingly important in promoting industrialization, regional development, and social advancement. Economic Impact of the Mining Sector In the last 10 years (2014 to 2023) total mineral revenue was over USD40.15 billion and out of this over USD29 billion was returned into the country through the bank of Ghana and the commercial banks. In 2024, Ghana saw a significant 19.3% ri...

 MTN Ghana distinguished itself once again by securing the overall Project Management Office (PMO) of the Year award at the 2025 Project Management Excellence Awards (PMEA), held at the Aqua Safari Resort. The ceremony was organized by Project Management Institute (PMI) Ghana after a successful National Project Management Conference (NPMC) at the Aqua Safari resort in Ada, Ghana. MTN Ghana’s Project Management Office (PMO) was recognized for its excellence in delivering strategically aligned, benefits-driven projects by focusing on key priority investments and closely tracking performance. The PMO achieved all of its targets, demonstrating strong execution, value creation and ongoing commitment to business goals. Other prestigious awards won include; Telecom Company Project of the Year – NextGen MoMo App Project Manager of the Year - 1st Runner-Up - Selorm Kove Project of the Year - 2nd Runner-Up - The Massive-MiMo Technology Project MTN received four awards in total at the event. ...

  Ghana has launched a landmark football transformation project involving the Ghana Football Association (GFA), Adesa Productions Limited (APL), and the Ministry of Sports and Recreation. The project promises to rebrand and commercialize the Ghana Premier League (GPL) as a global media asset. GFA President, Kurt Okraku, announced that every league club will receive GHS 1 million to drive operational and competitive transformation. Chief of Staff Julius Debrah, representing H.E. President Mahama, confirmed the initiative stems from a Cabinet directive to reposition sports as a national development engine. Hon. Kofi Adams, Minister of Sports and Recreation, hailed the project as part of Ghana’s evolving sports strategy: “We are moving from government dependency to structured private-sector partnerships.”   APL General Manager Afeafa Nfojoh promised fans world-class storytelling, cutting-edge coverage, pre-match build-ups, fan engagement, and highlig...

Aspirant for the Presidency of the Private Newspapers and Online News Publishers Association of Ghana (PRINPAG), David Tamakloe, has donated a state-of-the-art laser printer to support the Association’s daily administrative operations at its headquarters in Accra. The donation comes after Tamakloe visited the PRINPAG Secretariat for his vetting and discovered the Association’s only printer had broken down, forcing staff to walk long distances to print essential documents. Seeing the inconvenience and how it affected operations, I felt compelled to help,” Tamakloe stated during the presentation. “I also wish to encourage individuals, development agencies, and corporate institutions to support PRINPAG in strengthening press freedom and professionalism.” Receiving the donation on behalf of the Association, PRINPAG President Mr. Edwin Arthur expressed profound gratitude for the gesture. He dismissed any notion that the donation was politically motivated, emphasizing that it reflected genui...

  The Ministry of Trade, Agribusiness, and Industry is advancing preparations for the effective implementation of the Ghana–UK Trade Partnership Agreement (TPA), following high-level discussions with a visiting UK delegation. The talks, held on Wednesday, July 30, 2025, identified three priority areas essential to unlocking the full potential of the agreement: revitalising the Ghana–UK Business Council, advancing regulatory harmonisation through Memoranda of Understanding (MoUs) between regulatory bodies, and finalising rules of origin to clarify trade procedures. The proposed regulatory alignment aims to streamline product certification and facilitate smoother trade flows. Ghana’s key regulatory institutions—the Ghana Standards Authority, Food and Drugs Authority, and the Customs Division of the Ghana Revenue Authority—will lead the process in collaboration with their UK counterparts. Chief Director of the Ministry, Noah Tumfo, reaffirmed Ghana’s commitment to maximising the agree...

  The Bank of Ghana (BoG) has announced plans to relaunch the gold coin as part of its Cedi at 60 commemorative program, aimed at deepening public access to gold ownership and enhancing financial inclusion. Speaking at a125th MPC press briefing on Wednesday, July 30, 2025, Governor of the Bank of Ghana said the initiative is designed to ensure that every Ghanaian has the opportunity to own a form of gold, reflecting the country’s heritage as one of the world’s leading gold producers. “Even though there is a lot of interest in the Gold Coin, we need to relaunch it as part of the Cedi @60 programmes. We are coming back stronger on that programme. Every Ghanaian should be able to buy some form of gold, and that is exactly what this program intends to achieve,” he said. The move comes at a time when global demand for gold remains strong, and Ghana continues to prioritize gold in its reserves management and currency stabilization efforts. The Ghana Gold Coin was officially introduced as...

  The Governor of the Bank of Ghana, Dr. Johnson Asiama, has announced that the banking sector has demonstrated continued asset growth, improved solvency, liquidity, profitability, and efficiency in the first half of the year. Speaking at the monetary policy press conference in Accra, Dr. Asiama attributed the sector's resilience to improved economic conditions, ongoing recapitalization efforts, and strict credit underwriting standards. According to Dr. Asiama, the non-performing loan ratio eased in June 2025 due to lower growth of non-performing loan stock relative to credit. He expressed confidence that the banking sector's resilience will continue to improve, driven by capital injections, profits, and strict credit underwriting standards. The Governor's remarks underscore the Bank of Ghana's commitment to maintaining financial stability and promoting a robust banking sector. The improved performance of the banking sector is expected to support economic growth and dev...

  Ecobank Group has announced unaudited financial results for the first half of 2025, reporting a net revenue growth of 12% year-on-year to $1.1 billion, and a 23% year-on-year increase in profit before tax to $398 million. The Group achieved strong growth and improved efficiency despite economic challenges in key markets. The cost-to-income ratio improved to 49.1%, the best performance in more than a decade. Customer deposits surged by $3.4 billion during the year to $23.9 billion, with 83% held in low-cost current and savings accounts – clear evidence of customers’ growing confidence in the Group. The Group’s financial performance for the first half of 2025 demonstrated resilience in the face of macroeconomic uncertainties. They showcased the advantages provided by the Group’s diversified business model and the effectiveness of our Growth, Transformation, and Returns (GTR) strategy,” said Jeremy Awori, Chief Executive Officer, Ecobank Group. The Corporate and Investment Bank...

  The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has significantly reduced the policy rate to 25 percent from 28 percent. The chairman of the committee, who is also the Governor of the BoG, Dr. Johnson Asiama made the announcement on Wednesday July 30, 2025 at a press briefing in Accra. He disclosed that majority of the 7-member committee voted to reduce the policy rate. The MPC, by a majority decision, voted to lower the monetary policy rates by 300 basis points to 25.0%. Looking ahead, the Committee will continue to assess incoming data and likely reduce the policy rate further should the disinflation trend continue”, he said. He assured that the committee remains committed to the price stability mandate while creating conditions for inclusive and sustainable growth. He pointed out that there are upside risks to the inflation outlook, which include potential supply chain challenges emanating from the global trade tensions and upward adjustment in utility tariffs. ...

  The Importers and Exporters Association of Ghana has expressed deep concern over the challenges faced by businesses in accessing foreign exchange (forex) through commercial banks, despite the recent appreciation of the Ghana Cedi against major foreign currencies. We respectfully urge the Bank of Ghana to act swiftly to arrest the situation before it spirals further out of control." - Importers and Exporters Association of Ghana The association notes that while the Cedi has seen some level of appreciation, businesses continue to face significant hurdles in sourcing forex from traditional banking institutions. This has compelled many legitimate importers and exporters to resort to the black market, where forex is traded at inflated rates, exacerbating the cost of doing business and undermining macroeconomic stability. The association is calling on the Bank of Ghana to take concrete and pragmatic steps to release forex into the system and improve access for legitimate businesses. T...

  Ghana records trade surplus of Ghana recorded a trade surplus of US$5.57 billion in the first six months of 2025. This is 307.4% growth over the same period in 2024. In 2024, the country registered a trade surplus of US$1.367 billion. According to data from the Bank of Ghana, the country recorded US$13.79 billion in exports in the first-half of 2025. This is against US$8.225 billion in imports in June 2025. Gold exports were the biggest, recording proceeds of US$8.38 billion in June 2025. This was a result of the high gold prices during the period. Cocoa also registered US$2.167 billion from exports in the first-half of 2025. On the other hand, crude oil exports were estimated at $1.364 billion in June 2025. Other exports were estimated at US$1.87 billion. There were mainly from non-traditional export commodities. Meanwhile, gross international reserves stood at US$11.12 billion as of June 2025, about 4.8 months of import cover. Net international reserves was however $US8.88 bill...

  A lawyer and Senior Compliance Manager at Stanbic Bank Ghana Limited has urged risk and compliance professionals to evolve beyond a prescriptive mindset. Barbara Dede Ama Okai-Tettey has tasked professionals to embrace a more strategic, solution-driven approach that enables business growth and unlocks competitive advantage. Speaking at  Risk Summit 2025  on the topic  “Compliance as a Catalyst: Unlocking Competitive Advantage Through Resilience”, Okai-Tettey emphasised that the traditional model, focused solely on directives, is no longer effective in today’s complex risk landscape. As risk professionals, we’re quick to say, ‘This is what you need to do’, but often fail to provide context. Without explaining the ‘why’, we risk losing the support of our first line of defence. That’s when we’re perceived as blockers rather than business enablers,” she noted. She stressed that offering rationale must be accompanied by practical guidance. Even when we articulate the ‘...

  The Head of Corporate and Investment Banking at Stanbic Bank has called for a shift from short-term monetary interventions to deeper structural and fiscal reforms to sustain the country’s recent gains in foreign exchange (forex). Musah Abdallah, speaking at the Graphic Business/Stanbic Bank Breakfast Meeting, he emphasised the importance of a more strategic and coordinated approach to economic management. The breakfast meeting, held under the theme “Sustaining Forex Gains: Business and Economic Impact,” brought together policymakers, economists, industry leaders and financial experts to discuss how Ghana can convert recent foreign exchange stability into long-term economic growth. Delivering his introductory remarks, Mr. Abdallah said, “Sustaining our forex gains will require more than short-term fixes. It would demand deep structural reforms, ongoing fiscal discipline, complementary and progressive monetary policy, and continuous support for the productive sectors of our economy...

 The Bank of Ghana (BoG) has called on banks to align their operations with the sustainable banking principles as it steps up efforts to integrate climate risk and environmental sustainability into the country’s financial sector. The BoG has also issued a Climate-Related Financial Risk Directive, requiring all banks to integrate climate risk into governance and risk management structures. The directive seeks to enhance the resilience of Regulated Financial Institutions (RFIs) by integrating climate risk considerations into governance, risk management, and disclosure practices. Banks are required to update their governance structures, risk management systems, and internal policies to comply with the directive by December 31, 2025, with full implementation starting on January 1, 2026. A newly established Climate and Sustainability Office within the central bank will lead the implementation. Speaking at a session on the construction sector, Second Deputy Governor of the BoG, Matilda A...

  The Bank of Ghana (BoG) has directed all banks, Dedicated Electronic Money Issuers (DEMIs) and Enhanced Payment Service Providers (EPSPs) to submit detailed weekly reports on inward remittance transactions to curb foreign exchange violations. It is therefore now mandatory for financial institutions to provide daily logs of individual remittance transactions for each Money Transfer Operator (MTO), alongside the total daily foreign exchange credited into their respective Nostro accounts. This is to enhance transparency, accountability, and regulatory oversight within the foreign exchange and remittance ecosystem. The BoG said the move is in line with its responsibility to safeguard the integrity and stability in the country’s  FX market and to ensure compliance with the Updated Guidelines for Inward Remittance Services. Institutions that fail to submit accurate and timely reports risk regulatory sanctions. The Central Bank reiterates that it will not hesitate to revoke remitta...

  Commercial banks are anticipating a significant policy shift as the Bank of Ghana’s Monetary Policy Committee (MPC) wraps up its three-day meeting later today, Wednesday, July 30, 2025. The Ghana Association of Banks (GAB) insists there is strong market expectation of a 200 basis points cut in the current 28% policy rate – a move that could signal renewed momentum in Ghana’s post-crisis recovery and support lower lending rates. Speaking ahead of the MPC announcement, John Awuah, CEO of the Ghana Association of Banks, cited prevailing macroeconomic indicators particularly the steady drop in inflation to 13.7% as a strong basis for policy easing. So we are all watching the space. We are looking forward to something significant, I mean we are looking for something around 200 basis points. If policy rate comes down and it comes down aggressively, it will definitely directly impact the Ghana reference rate, which will ultimately then feed into the lending rate reduction”, he told Citi...

 The Ghana cedi recorded a strong performance against major foreign currencies in the first seven months of 2025, appreciating by 40.7% against the US dollar. According to the latest data from the Bank of Ghana’s Summary of Economic and Financial Data for the period ending July 2025, as of July, the cedi was trading at GH¢10.45 to the US dollar on the interbank market. The local currency gained significant ground in May, appreciating by 43% against the dollar, and maintained momentum in June with a 42.6% gain. The cedi also strengthened against other major currencies. It appreciated by 25.6% and 24.2% against the euro, trading at GH¢12.11 and GH¢12.25 on the interbank market in June and July, respectively. Against the British pound, the cedi gained 30.3% and 31.2%, in June and July, with the exchange rate currently standing at GH¢14.02. Over the past two weeks, the cedi has held firm against the dollar and other major currencies. It closed at a mid-rate of GH¢10.48 per US dollar on...

Ghana’s total public debt stock declined by GH¢139 billion in the first half of 2025. According to the latest data from the Bank of Ghana, the debt stock fell from GH¢752.1 billion at the beginning of the year to GH¢613.0 billion by the end of June, despite a marginal uptick from GH¢612.1 billion recorded in May. This significant improvement in the country’s fiscal position is a result of the government’s debt trajectory, aided by currency stability, nominal GDP growth, and restrained domestic borrowing. However, external debt continues to dominate the country’s liabilities, putting pressure on foreign reserves and exposing the economy to exchange rate and interest rate risks. As of June, Ghana’s external debt stood at GH¢300.3 billion or 21.4% of GDP, up slightly from GH¢296.2 billion in May. In dollar terms, the figure rose to US$29.1 billion due to the persistent vulnerability to currency fluctuations and the cost of servicing foreign-denominated obligations. Meanwhile, domestic deb...

The Office of the Chief of Staff has confirmed that Honourable Julius Debrah, Chief of Staff of the Republic of Ghana, will deliver the Keynote Opening Address at the upcoming Mining & Minerals Convention 2025, scheduled for August 26–27, 2025 at the Kempinski Gold Coast Hotel, Accra.   As Special Guest of Honour, the Chief of Staff will set the tone for this year’s Convention, which is themed “Shaping the Future of Ghana’s Gold Industry.” His address is expected to reaffirm government’s commitment to responsible mining, sustainability, local value retention and positioning Ghana as Africa’s trusted gold hub.   The two-day Convention is Ghana’s flagship gathering for the gold and minerals sector — bringing together top government leaders, regulators, industry captains, investors and innovators to align policy, finance and sustainability in Ghana’s gold value chain.   Other distinguished speakers confirmed for this year’s Convention include:   - Hon. Armah Kofi Bu...

  The Institute of Public Policy and Accountability (IPPA) has called on the Ghanaian government to diversify the country's exports to reduce reliance on gold, cocoa, and crude oil. According to IPPA, this move will not only boost exports but also widen the trade surplus, building adequate international reserves to limit exchange rate depreciation during global economic turbulence. Ghana's economy has shown promising signs of recovery, with a growth rate of 5.3% in the first quarter of 2025 and inflation dropping to 13.7% in June 2025. However, the country's heavy reliance on primary commodities makes it vulnerable to external shocks. IPPA emphasizes that diversifying exports will help mitigate this risk and stimulate economic growth. In statement copied to BusinessWeek Ghana, IPPA noted that,  The Mid-Year Budget appears promising, but it does not outline adequate strategies to address external shocks.  It is welcoming to establish two separate sinking fund accounts to h...