Kofi Ahovi

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GCB overtakes Ecobank as Ghana’s largest deposit-taking bank

GCB Bank has regained its position as Ghana’s largest bank by deposit market share, overtaking Ecobank Ghana (EBG) in 2025, according to the PwC Ghana Banking Survey 2026. GCB’s share of industry deposits rose to 12.37 per cent in 2025, up from 10.86 per cent in 2023, although slightly below the 12.99 per cent recorded in 2024. Ecobank Ghana, which led the market in 2024 with a 14.33 per cent share, saw its position fall to 10.52 per cent in 2025. The shift puts GCB at the top of the deposit market, ahead of Ecobank and Stanbic Bank Ghana (SBG), which ranked third with a 7.80 per cent share. The figures are contained in the PwC Ghana Banking Survey 2026, which provides an overview of developments and performance in Ghana’s banking sector. The latest ranking marks a notable change from the previous year, when Ecobank held the largest share of industry deposits. GCB’s 2025 position also represents a return to the top spot after the bank ranked second in 2024. Deposit mobilisation e...

Banks’ pre-tax profit jumps 40% to GH¢23bn

Ghana’s banking sector recorded a strong improvement in profitability in 2025, with profit before tax (PBT) rising by 39.8 per cent to GH¢23 billion, up from GH¢16.5 billion in 2024. The performance was driven largely by higher investment income, stronger net trading income and a sharp reduction in net impairment losses, according to the PwC Ghana Banking Survey 2026. The survey said the growth in profitability outpaced the sector’s income expansion, with total income increasing by 24.1 per cent from GH¢35.5 billion in 2024 to GH¢44.1 billion in 2025. Consequently, the industry’s PBT margin improved by 5.9 percentage points, from 46.3 per cent to 52.2 per cent. Investment income drives earnings Investment income emerged as a major contributor to the banks’ improved earnings, increasing by GH¢7.8 billion, representing a 45.2 per cent growth in 2025. The increase occurred despite declines in the average interest rates on the Government of Ghana’s 91-day and 182-day Treasury bills, ...

Government targets 70% 5G coverage by 2028, unveils digital reforms

The Government of Ghana has set an ambitious target of achieving 70 per cent population coverage for 5G services by the end of 2028, as part of efforts to accelerate the country’s digital transformation and expand access to high-speed connectivity. Deputy Minister for Communication, Digital Technology and Innovations, Mohammed Adams Sukparu, announced the target at the opening of the 2026 National ICT Week, where he outlined a series of government initiatives aimed at strengthening Ghana’s digital ecosystem. Sukparu said the government was also reviewing the country’s spectrum policies to promote investment, accelerate network deployment and maximise the public value derived from Ghana’s limited spectrum resources. We have announced an ambitious target of achieving 70 percent population coverage of 5G by the end of 2028, while reviewing spectrum policies to ensure that this scarce national resource supports investment, deployment, and wider public value,” he said. He explained th...

Fiscal policy uncertainty making mining investments more expensive – Ashigbey

Chief Executive Officer of the Ghana Chamber of Mines, Ing. Kenneth Ashigbey, has warned that frequent changes in Ghana’s fiscal policies are increasing the cost of financing mining projects in the country. Speaking on Channel One TV’s The Point of View on Monday, August 17, Ing. Ashigbey said the unpredictability of fiscal policies makes it difficult for mining companies and potential investors to accurately assess the costs and expected returns of their projects. According to him, investors can factor Ghana’s existing tax rates into their financial projections, but uncertainty over future policy changes makes it difficult to determine the figures they should use when raising funds. The thing that unpredictability does is that it makes raising funds for projects in Ghana very expensive. It’s the reason why you need a stability agreement,” he said. Ing. Ashigbey explained that mining projects require significant upfront capital before they begin generating revenue, making fiscal...

Ghana rises to sixth among world’s largest gold producers, overtakes US

Ghana ranked sixth among the world’s largest gold-producing countries in 2025, producing 185 tonnes of gold, the Ghana Chamber of Mines has disclosed. The ranking represents an improvement from Ghana’s traditional seventh position, with the country overtaking the United States following an increase in domestic production and a decline in US output. Director of Analysis, Research and Finance at the Chamber, Christopher Nyarko, disclosed this in an interview with Bernard Avle on Channel One TV’s The Point of View on Monday, August 17. We are number six. We’re number six now, right after Peru. So globally, China, Russia, Australia, Canada, Peru, then Ghana comes in, and then the United States follow,” he said. Nyarko explained that Ghana had traditionally ranked seventh globally but moved ahead of the United States in 2025 after production in the US declined. Last year [2025] , Ghana overtook the US, but traditionally, we’ve always been number seven,” Mr Nyarko said. He attributed t...

GSE Market Cap Rises to GH¢288.9bn as Trading Value Falls 46%

By Kofi Ahovi The Ghana Stock Exchange (GSE) recorded a mixed performance in the equities market during the week ended August 14, 2026, with market capitalisation increasing while trading activity declined sharply. Market capitalisation rose by 1.43% to GH¢288.90 billion from GH¢284.84 billion the previous week, according to the GSE’s weekly equities market report. The GSE Composite Index (GSE-CI) also gained 0.79% during the week to close at 15,307.71 points, while the GSE Financial Stock Index (GSE-FSI) increased by 1.19% to 8,116.98 points. Despite the positive movement in the key market indicators, trading activity weakened considerably. Total volume traded fell by 22.16% to 10.06 million shares, from 12.92 million shares in the preceding week. Value traded recorded a sharper decline, dropping 46.14% from GH¢58.20 million to GH¢31.35 million. Das Pharma leads weekly gainers Das Pharma emerged as the best-performing stock during the week, with its share price rising 55.77% fro...