Kofi Ahovi

  Shareholders of Ecobank Transnational Incorporated (ETI), the parent company of the Ecobank Group, has approved all resolutions tabled at its 2026 Annual General Meeting in Lomé, including the approval of a final dividend for the 2025 financial year – the Group’s first distribution to shareholders since 2022. The dividend payment of 0.16 US cents per share marks a significant milestone, validating the successful execution of the Group's Growth, Transformation and Returns (GTR) strategy. This strategy has focused on reinforcing the Group’s fundamentals, enhancing capital and asset quality, and prioritizing long-term resilience and shareholder value. The full year 2025 results prove that this disciplined approach is now translating into measurable value for our shareholders. For the year ended 31 December 2025, Ecobank reported record Profit Before Tax of US$801 million, up 21% year-on-year, while net revenues increased by 17% to US$2.45 billion. Pre-provision, pre-tax operating pr...

  The Ministry of Finance has released GH¢1.677 billion to the Ministry of Food and Agriculture in 2026, representing 85% of the ministry’s approved budget for Goods and Services, and Capital Expenditure (CAPEX). The disclosure was made by Deputy Minister for Finance Thomas Nyarko Ampem during the launch of Ghana’s National Pact for Agricultural Transformation, Food Security, and Employment (AgriConnect Compact) on Wednesday, June 3, 2026. The announcement directly challenges claims that the Ministry of Finance has failed to provide adequate funding to key ministries and state institutions. Speaking at the event, Nyarko Ampem said President Mahama’s administration is matching its agricultural transformation agenda with substantial financial commitments and targeted investments. According to him, the government’s commitment to agriculture is evident in a number of flagship programmes being implemented under the leadership of President John Dramani Mahama. He added that the governmen...

The pressure on the Ghana cedi is expected to persist in June 2026 as elevated energy prices continue to drive foreign exchange demand. According to IC Insights, a leading economic research firm, the rapid pace of depreciation, however, leaves room for late year correction. The local currency weakened 4.6% in May 2026 as corporate and portfolio-driven forex demand far exceeded the Bank of Ghana’s supply. Auction demand reached nearly four times available liquidity.  IC Insights said the surging foreign exchange demand deepens pressure on the cedi. The cedi endured intensified depreciation in May 2026, losing 4.6% against the US dollar as a surge in forex demand from corporates and portfolio calls outweighed supply, including the BoG’s weekly support. Total foreign exchange demand at the weekly BoG FX auction was US$3.83 billion, nearly 3.8 times the BoG supply, with the unmet demand exerting pressure on the local currency. We foresee continued pressure on the cedi as elevated energ...

  AngloGold Ashanti is targeting increased gold production from its Ghanaian operations in 2026 while continuing to make significant contributions to the country's economy through taxes, royalties, local procurement and community development investments. Speaking at the 2026 West African Mining and Power Exhibition and Conference (WAMPEX) in Accra, Managing Director of the AngloGold Ashanti Obuasi Mine is Samuel Boakye Pobee, said the company remains committed to supporting Ghana's mining sector growth and broader economic transformation. AngloGold Ashanti, the headline sponsor of WAMPEX 2026, expects production from its two Ghanaian mines—Obuasi and Iduapriem—to exceed 2025 levels. According to the company, the Obuasi Mine is projected to produce between 250,000 and 300,000 ounces of gold in 2026, while the Iduapriem Mine is forecast to produce between 222,000 and 230,000 ounces. The projections follow a strong performance in 2025, when Obuasi produced approximately 266,000 o...

  The Ghana Chamber of Mines has renewed calls for the formalisation of the artisanal and small-scale mining (ASM) sector, arguing that the move is critical to curbing illegal mining, increasing government revenue, and ensuring mining communities benefit more from the country's mineral wealth. Speaking in a joint interview after the opening day of the three-day West African Mining and Power Exhibition (WAMPEX) 2026 in Accra, Chamber President Michael Edem Akafia and Chief Executive Officer Ign. Ken Ashigbey said illegal mining remains a major challenge across the West African sub-region and announced plans to develop a framework that would allow large-scale mining companies and small-scale miners to coexist while helping government formalise the sector. According to the Chamber, artisanal and small-scale miners accounted for about 52 percent of Ghana's gold production in 2025, yet contributed only a fraction of the tax revenues generated by the mining industry. Ashigbey said fo...

 Ghana is positioning itself as a leading destination for critical minerals processing, value addition and responsible mining investment as global demand for minerals essential to the energy transition and emerging technologies continues to surge. Speaking at the opening of the 2026 West African Mining and Power Exhibition and Conference (WAMPEX) in Accra, Lands and Natural Resources Minister Emmanuel Armah-Kofi Buah said the country is moving beyond its traditional role as a producer of raw minerals to become a centre for mineral beneficiation, industrial development and sustainable resource management. Addressing delegates from across the mining and energy sectors, Buah said the growing global demand for critical minerals such as lithium presents Ghana and the wider West African region with a historic opportunity to attract investment, acquire new technologies and build resilient industrial value chains. He stressed that Ghana's ambition is not only to maintain its position as Af...