Kofi Ahovi

  The Government has secured more than US$3.5 billion in new investment commitments to revitalise Ghana's upstream petroleum sector, as part of a broader strategy to reverse years of declining crude oil production and strengthen the country's energy security. Presenting the 2026 Mid-Year Budget Review to Parliament on Thursday, July 23, 2026, Finance Minister Dr. Cassiel Ato Forson said the government's investor-friendly reforms have restored confidence in Ghana's oil and gas industry and are already delivering measurable results. He noted that crude oil production had fallen dramatically over the past six years, underscoring the need for urgent policy interventions to attract fresh investment into the sector. Ghana's crude oil production declined sharply from 71.4 million barrels in 2019 to about 36 million barrels in 2025. To reverse this decline, Government has introduced investor-friendly reforms that have already secured more than US$3.5 billion in new investme...

  …central bank’s MPC adjudges upside and downside risks balanced By Toma Imirhe After considering the upside and downside dynamics currently impacting on the performance of the country’s economy, the Bank of Ghana’s Monetary Policy Committee (MPC) on Wednesday, July 22, 2026 unanimously decided to retain its benchmark Monetary Policy Rate (MPR) at 14%. This is the second consecutive time it has opted to do so, following a similar decision at its previous meeting in late May. The last time it cut the MPR was in March when it slashed 150 basis points off its hitherto 15.5% - to settle the rate at its current 14% - which marked the final phase of aggressive monetary easing which halved the MPR cut from 28% in July 2025 over five consecutive MPC meetings. The latest decision to maintain the pause on further monetary easing was widely expected by economists, monetary policy analysts and public policy commentators. The Bank of Ghana’s primary objective is to curb inflation which has ris...

  Finance Minister Dr. Cassiel Ato Forson has defended the government's sweeping tax reforms, saying the abolition of several taxes has strengthened investor confidence, supported businesses and households, and increased domestic revenue through improved compliance rather than higher tax rates. Presenting the 2026 Mid-Year Budget Review to Parliament on Thursday, July 23, 2026, Dr. Forson said the modernisation of Ghana's tax regime formed the second pillar of the government's Key Transformational Policy Reforms (KTPs), aimed at resetting the economy for growth, job creation and economic transformation. He explained that the reforms were designed to restore investor confidence, revive private enterprise, provide relief to households and businesses, and improve domestic revenue mobilisation through better tax policy and administration. As part of the reforms, the government abolished what it described as "nuisance taxes," including the Electronic Transfer Levy (E-L...

  Finance Minister Dr. Cassiel Ato Forson has attributed Ghana's improving economic performance to what he described as a deliberate programme of policy reforms and disciplined economic management implemented by the Mahama administration since taking office in January 2025. Presenting the 2026 Mid-Year Budget Review to Parliament on Thursday, July 23, 2026, Dr. Forson said the country's economic recovery was the result of sound policy decisions, competent leadership and prudent fiscal management rather than chance. He argued that the government's reform agenda had restored confidence in the economy and laid the foundation for sustainable growth. The Finance Minister said the turnaround had been driven by three Key Transformational Policy Reforms (KTPs), namely fiscal correction, modernising Ghana's tax regime, and complementary fiscal policies aimed at reducing inflation while ensuring exchange rate stability. According to him, the first pillar of the reform agenda focu...

  The government has allocated GH¢400 million for the acquisition of high-capacity buses aimed at expanding public transport capacity and improving mobility across the country. The Minister for Finance, Dr. Cassiel Ato Forson, announced the allocation during the presentation of the 2026 Mid-Year Budget Review in Parliament on Thursday, July 23. He said the investment will be used to strengthen the fleets of state-owned transport companies, including Metro Mass Transit (MMT) and the State Transport Company (STC), as part of efforts to provide safer, more reliable, and affordable transport services for commuters. According to Dr. Ato Forson, the intervention is part of government’s broader plan to improve urban mobility by increasing access to efficient mass transportation systems, especially on routes with high commuter demand. Government is reallocating GH¢400 million for the acquisition of high-occupancy buses to strengthen the fleets of state-owned transport companies, including ...

  Ghanaians lost nearly GH¢300,000 to online restaurant impersonation scams in the first six months of 2026, as cyber criminals increasingly hijacked Google business listings to trick unsuspecting customers into paying for food that was never delivered. A new alert issued by the Cyber Security Authority (CSA) shows that financial losses from the scam surged to GH¢296,083.68 between January and June this year, more than three times the GH¢84,592 recorded during the same period in 2025. Reported cases also climbed sharply to 112, up from 61 a year earlier. According to the Authority, fraudsters are targeting legitimate restaurants and food vendors by altering their contact details on Google Search, Google Maps and other online platforms. In some cases, criminals exploit Google’s “Suggest an edit” feature, claim unverified business profiles or create duplicate listings before replacing genuine phone numbers with fake ones. Others purchase sponsored advertisements to ensure the fraudul...