Kofi Ahovi

 Former Ghanaian Finance Minister Ken Ofori-Atta has been detained by US Immigration and Customs Enforcement (ICE) due to issues with his stay in the United States. According to a public notice issued by his Ghanaian lawyers, Minkah-Premo, Osei-Bonsu, Bruce-Cathline and Partners (MPOBB), Ofori-Atta's US legal team is working with ICE to resolve the matter, which involves a pending petition for adjustment of status allowing him to stay in the US legally past his visa's validity period. The United States Immigration and Customs Enforcement (ICE), as of yesterday, detained the former Minister for Finance, Ken Ofori-Atta, regarding the status of his current stay in the United States," the statement read. Justice Kusi-Minkah Premo Esq., of MPOBB, assured the public that Ofori-Atta is cooperating with ICE and his legal team is working to expedite the resolution. "The Public is, therefore, advised to note that he is a law-abiding person and is fully cooperating with ICE to h...

  President John Mahama has called on Ghanaians to embrace unity, integrity, and service above self as he marked one year in office, emphasising that the government’s progress is measured not only in statistics but in restored hope and trust. Speaking at a Thanksgiving service held at the Jubilee House in Accra, the President reflected on the achievements of his administration while acknowledging that much work remains. He urged Ghanaians to view the milestone as a moment for recommitment to governance anchored in competence, compassion, and inclusivity. The work we have begun is far from finished, but today reminds us that progress is not measured only by numbers and by charts and diagrams. It is also measured by hope that is restored, by trust that is rebuilt, and correct direction that is regained,” President Mahama said. He further outlined his administration’s pledge to ethical leadership and service to the people, particularly the youth, the vulnerable, and those who feel exc...

 A horrific accident on the Offinso-Abofuor Highway in the Ashanti Region has claimed the lives of seven people, leaving a dozen others in critical condition. Eyewitnesses reported that the crash occurred in the early hours of Wednesday, January 7, 2025, between the Samproso and Awisam communities near Offinso. According to Kwadwo Obeng Mireku, an eyewitness who spoke to Adom News, a commercial bus with registration GT 5509-20, travelling from Techiman to Kumasi, collided head-on with a trailer carrying cement, registration GN 5326-22. The trailer, loaded with cement from a factory in Samproso, stalled on the road after its engine failed. The oncoming bus from Techiman, travelling at high speed, hit the trailer. Six people died at the scene, while others were critically injured,” he recounted. One more victim later died after being taken to hospital. The deceased and injured were transported to St. Patrick Hospital at Offinso Maase. Police visited the scene to clear the road and ha...

The Chief Executive Officer of the Ghana Airports Company Limited (GACL), accompanied by 25 board members, has paid an inspection visit to Bolgatanga to assess the proposed airport site, renewing optimism over the commencement of the long-awaited project. The visit enabled the delegation to examine the current condition of the site and interact with key local stakeholders who have sustained access to the area over the years. Prominent among them is The Alagumgube Group, founded by Gabriel Agambila, which has undertaken several critical interventions using its own resources to support the project. Speaking during the visit, Gabriel Agambila disclosed that the group graded the runway entirely with its own funds, stressing that the action was motivated by commitment to regional development rather than any expectation of compensation. This airport is very important to our people. We did not wait for funding before acting. We used our own resources to grade the runway because access had to ...

  Ghana’s inflation continued its steady decline in December 2025, falling to 5.4 percent year on year, marking the 12th consecutive month of disinflation and the lowest rate since the Consumer Price Index (CPI) was rebased in 2021, according to the Ghana Statistical Service. Presenting the latest inflation figures in Accra, Government Statistician, Dr. Alhassan Iddrisu, said the CPI for December 2025 stood at 261.7, up from 240.8 in December 2024, translating into a significant moderation in price pressures over the year. This means that, on average, goods and services cost 5.4 percent more than they did in December 2024,” Dr. Iddrisu said. “This result is significant because inflation has now declined for 12 consecutive months. It fell from 6.3 percent in November 2025 and from 23.8 percent in December 2024, representing a reduction of 18.4 percentage points within a year.” He noted that the sustained decline, points to improving macroeconomic conditions and a firm shift towards ...

  Ghana’s economy is projected to have expanded by 5.7% ± 0.5 percentage points in 2025. This will be higher than the International Monetary Fund forecast of 4.0% real Gross Domestic Product (GDP) growth and 4.3% by the World Bank. According to IC Research, a leading market research firm, festivities-related spending in quarter 4, 2025, boosted household and private sector consumption, supporting trades, manufacturing, transport, and Information Communication and Technology, while crops remain resilient. We, however, expect construction growth to remain normalised below the double-digit expansion posted in the final quarter of 2024, although we see prospects for recovery above the momentum in 3Q2025 [third quarter of 2025]”, it added It continued that recovering household spending, driven by stable prices and a softer Value Added Tax (VAT) regime in 2026, will support sales revenue and gross margin, highlighting “Effective distribution networks and efficient management of stock kee...

 The Ghana Revenue Authority (GRA) says recent VAT reforms are easing pressure on consumers, with about GH¢6.5 billion returned to households following a drop in prices. According to the Authority, prices of goods and services have declined by about 1.9 per cent since the reforms took effect, following the reduction of the effective VAT rate to 20 per cent. Speaking during a VAT compliance monitoring exercise at shopping malls in the Spintex enclave, Commissioner-General of the GRA, Anthony Sarpong, said early signs show the reforms are working as intended. He explained that the changes include a reduction in the VAT rate, the removal of the COVID-19 levy, the decoupling of VAT, and higher thresholds for smaller businesses. Sarpong said checks conducted at several shops showed that businesses had updated their systems and were applying the new VAT rates. He noted that interactions with shoppers also confirmed growing satisfaction with the lower prices, reinforcing the government’s ...

  Some Oil Marketing Companies (OMCs) have moved to reduce fuel prices at the pumps again, with Star Oil this morning selling a litre of petrol at GH¢10.36 and diesel at GH¢11.36 at selected outlets across the country. These prices, however, are based on Star Oil’s discounted pricing policy, which applies to some of its service stations nationwide. During the first pricing window, which began on January 1, 2026, Star Oil reduced the price of petrol to GH¢10.86 per litre, while diesel sold at GH¢11.96. The company further reduced prices on January 6, 2026, with petrol dropping to GH¢10.56 per litre and diesel to GH¢11.56, before the latest adjustment to GH¢10.36 and GH¢11.36, respectively. Meanwhile, state-owned GOIL, the second largest OMC in the industry, also announced a reduction in pump prices on January 6. GOIL is now selling petrol at GH¢10.99 per litre, while diesel is going for GH¢11.96. This marks the second price reduction within the first pricing window for January 2026....

  The government recorded a 19% oversubscription of treasury bills for the fifth consecutive week, though at a reduced target. The government received about GH¢4.7 billion of the bids, but accepted a little over GH¢4.7 2 billion of the short-term instruments. The target for the auction was estimated at GH¢3.9 billion.   A little over 40% of the bids came from the 91-day bill.  About GH¢1.948 billion of the bids were tendered. The uptake was GH¢1.943 billion.  For the 182-day bill, GH¢1.2 billion of the bids were tendered. The bids accepted were estimated to the tune of GH¢1.0 billion. Similarly, GH¢1.60 billion of the bids were tendered for the 364-day bill. GH¢1.26 billion of the bids were accepted. Meanwhile, interest rates surged across the shorter end of the market. The yield on the 91-day bill increased by 7.0 basis points to 11.16%. That of the 182-day bill also went up to 12.55%, from 12.52% the preceding week. However, the yield on the 364-day bill declined b...

  The Bank of Ghana has issued new guidelines for the registration and operations of international money transfer operators (IMTOs) in Ghana. These guidelines are issued pursuant to Section 4(1)(e) of the Bank of Ghana Act, 2002, (Act 612) as amended, Section 2(3) of the Foreign Exchange Act, 2006, (Act 723) and Section 101(2)(i) of the Payment Systems and Services Act, 2019 (Act 987) for the registration of an IMTO and its operations in Ghana. According to the Central Bank, these guidelines are specifically tailored to an IMTO that partners with a Bank, Payment Service Provider and any other regulated financial institution approved by the Bank of Ghana for the termination of inward remittances. The objectives of these guidelines are to establish a clear legal and regulatory framework for the registration of an IMTO and its operations in Ghana, define the scope of permissible activities and operational requirements for an IMTO, including partnership arrangements with Banks and Paym...

 The Ghana Stock Exchange (GSE) ended 2025 as the second-best performing stock exchange in Africa, with a year-to-date return of 137.40% in dollar terms. In cedi terms, the exchange recorded a 79.14% return for investors. The Malawi-MASI was the best-performing stock exchange in Africa in 2025, recording 251.34% return in dollar terms for investors. The GSE market capitalization stood at GH¢171.87 billion as of 30th December 2025. About 21 out of 36 stocks recorded gains on the GSE. In November 2025, a total of 38.61 million shares valued at GH¢192.47 million exchanged hands on the GSE. While this represented a 12.49% dip in volume and an 11.39% decline in value month-on-month, overall market activity remained solid as investors continued to engage actively across key counters. The year-on-year, market activity experienced substantial growth, with trading volume rising 312.76% and value increasing by 591.31%. For year-to-date, the market recorded 683.74 million shares traded, value...