Kofi Ahovi

  President John Dramani Mahama has called on African leaders to take charge of shaping an emerging global order, warning that dependency threatens the continent’s future. Delivering a keynote address at the World Economic Forum in Davos, Mahama said the multilateral system established after the Second World War is steadily breaking down, with global relations becoming increasingly transactional and unilateral. He argued that Africa must no longer remain a passive observer as global power structures shift. Our world as we know it is at an inflection point,” Mahama told the gathering of global leaders, development partners and business executives. “Africa intends to be at the table in determining what the new global order will look like.” Reflecting on Ghana’s post-independence journey ahead of its 70th anniversary next year, Mahama traced the continent’s struggles through coups, democratic transitions, globalisation and shifting development frameworks. He noted that while Africa ha...

  …as it cuts benchmark Policy Rate to 15.5% By Toma Imirhe Dr. Johnson Asiama, the Governor of the Bank of Ghana, who doubles as the Chairman of the central bank’s Monetary Policy Committee (MPC) has confirmed that it is deliberately pursuing a prudent balance between a tight monetary regime to protect the recent macroeconomic gains with regards to the taming of inflation and consequent interest rates as well as exchange rate stability on the one hand and growth-supportive monetary expansion on the other. The Bank of Ghana chieftain revealed this on Wednesday, January 28, when announcing the latest 250 basis points cut in the bench mark Monetary Policy Rate, which the MPC has lowered to 15.5% from the erstwhile level of 18% at which it was held over the past two months. This brings the cumulative cut in the MPR since July last year – at which time it was 28% - to 1,250 basis points and its new level is the lowest in the past four years, since Ghana’s now receding macroeconomic cri...

  The African Development Bank (AfDB) has agreed to injected $12.83 million into Ghana's Big Push programme, aimed at driving economic growth and development. The grant agreement, signed by Finance Minister Dr. Cassiel Ato Forson, will finance feasibility studies and design development for key projects. Key Projects include: - Interchange at 37 Military Hospital: Easing traffic congestion in Accra - Modern Markets: Agbogbloshie, Techiman, Sekondi, and Mankessim - Special Agro-Industrial Processing Zones: Afram Plains, Nsawam, and Builsa The funding will support detailed feasibility studies, including full designs, costings, and environmental and social impact assessments. Dr. Forson expressed appreciation to the AfDB for their partnership, highlighting the significant financial resources and technical support secured through the bank's leadership. AfDB's outgoing Country Manager, Eyerusalem Fasika, reaffirmed the bank's commitment to Ghana's development agenda, than...

  In today’s interconnected global economy, vibrant capital markets are essential engines of sustainable growth. At the heart of this ecosystem lies the stock exchange which offers a transparent, regulated marketplace where investors and companies transact shares and securities. For countries like Ghana, the stock exchange is not just a financial institution; it is a strategic platform for mobilizing capital, fostering enterprise growth, and driving socio-economic development across the West African sub-region. What Is a Stock Exchange? A stock exchange is an organized and regulated marketplace where securities such as shares, bonds, and other financial instruments or assets are bought and sold. It brings together issuers (companies seeking capital) and investors (individuals and institutions looking to grow their wealth). Through standardized rules, reporting requirements, and transparent pricing mechanisms, a stock exchange ensures fairness, liquidity, and confidence in financial...

  The Bank of Ghana has rolled out a far-reaching reform of the microfinance sector, raising minimum capital requirements, restructuring the industry into clearer categories, and giving operators until December 31, 2026, to fully comply; a move aimed at strengthening confidence, protecting depositors, and stabilising the financial system. At the centre of the new framework is a significant increase in capital thresholds. Existing institutions seeking to transition into Microfinance Banks will be required to raise a minimum capital of GH¢50 million, while new entrants will need GH¢100 million, marking a sharp shift from previous requirements. According to the Central Bank, the changes are designed to ensure that institutions serving the public are adequately capitalised and better governed. Clear options for existing institutions To avoid disruption, the Bank of Ghana has outlined several transition pathways. Institutions may meet the new capital requirements on their own, merge wit...

  Ghana's banking sector has made notable progress in addressing its non-performing loan (NPL) issue, with the NPL ratio improving to 18.9% in December 2025 from 21.8% in 2024, according to data from the Bank of Ghana. The easing of the policy rate is expected to support credit conditions and strengthen financial intermediation, going forward," says Dr. Johnson Asiama, Governor of the Bank of Ghana. While the ratio remains elevated, ongoing policy measures aimed at resolving legacy loans, enforcing strict credit underwriting standards, and addressing wilful defaults are expected to further improve asset quality. The banking sector's strong performance in 2025, with total assets increasing driven by growth in domestic deposits and investments, provides a solid foundation for continued progress in managing NPLs.

  Ghana's banking sector has recorded a remarkable performance in 2025, with total assets increasing significantly driven by growth in domestic deposits, domestic borrowings, and shareholders' funds. According to the Bank of Ghana, the asset growth was primarily reflected in investments, which increased substantially. Ghana's banking sector has turned a decisive profitability corner just as monetary policy pivots to support growth," according to data from Bank of Ghana. The latest financial soundness indicators show that the banking sector was solvent, profitable, and efficient, with the Non-Performing Loan (NPL) ratio improving to 18.9 percent in December 2025 from 21.8 percent in 2024. Ongoing policy measures aimed at resolving legacy loans, enforcing strict credit underwriting standards, and addressing wilful defaults are expected to further improve asset quality. The easing of the policy rate, which was lowered to 15.5% in January 2026, is expected to support credi...

 President John Mahama has affirmed that the establishment of the Goldbod has positioned Ghana to take full control over the export of gold from the country. According to him, this has helped the country to export about 104 tonnes of gold from the small scale sector in 2025. The president made the disclosure in a keynote address to open the 2026 Africa Trade Summit in Accra. The Trade Summit by the African Trade Chamber assembled key African business leaders and policy makers to deliberate on promoting trade integration and value addition on raw materials from the continent. The summit is expected to tailor discussions to support industrial financing to benefit from the African continental free trade area. In his speech as keynote speaker, President John Mahama noted that Ghana has taken the lead to benefit from its natural resource base. As part of our resetting agenda for economic transformation, we’re looking to add value to our export such as cocoa, cashew, oil palm, cassava, g...

  The Bank of Ghana’s Composite Index of Economic Activity (CIEA) registered further improvement in the last quarter of 2025. According to the Monetary Policy release, the Index recorded 8.8% growth in November 2025, compared to 1.5% growth in November 2024. The report highlighted that international trade activities, credit to the private sector, industrial production and consumption contributed to the improvement in the CIEA during the period. Furthermore, the latest consumer and business confidence surveys continued to point to improved sentiments on macroeconomic conditions. Again, most survey respondents cited easing inflation conditions, stable currency, prospects for lower borrowing costs, short-term realisation of industry prospects, and attainment of company targets as reasons for the optimism.

  Ghana's construction sector has ended 2025 on a positive note, with inflation easing to 4.4% year-on-year, indicating sustained price stability and reduced cost pressures on key inputs. According to the December 2025 Prime Building Cost Index and Inflation Report, building input prices were 4.4% higher in December 2025 compared to December 2024. The month-on-month inflation turned negative at -0.2%, showing a slight decline in building input prices between November and December 2025. The easing inflation rate (4.4% year-on-year) and reduced cost pressures on key inputs translate into: - More predictable costs: Builders can better forecast and budget for project expenses. - Lower cost increases: Input prices are rising at a slower pace (4.4% vs previous higher rates). - Potential cost savings: Some materials might even be cheaper, given the -0.2% month-on-month inflation. - Increased project feasibility: Stable prices can make projects more viable and attractive to investors. In s...

  The Bank of Ghana (BoG) is set to receive government support for its recapitalisation, following significant balance sheet strain from the Domestic Debt Exchange Programme (DDEP). Governor Dr. Johnson Asiama announced this at the 128th Monetary Policy Committee (MPC) press briefing on January 28, 2026, saying discussions with the government have been constructive. The government had previously ruled out using taxpayer funds for recapitalisation, citing a ¢53 billion package under the former administration. However, Dr. Asiama emphasized that recapitalisation is necessary for policy credibility and operational independence. Discussions with government have been fruitful, and there is support to help repair the Bank's balance sheet," Dr. Asiama said. He stressed that restoring BoG's capital position will aid in delivering its mandate of price stability, financial sector supervision, and macroeconomic management. The Governor also reported progress in commercial banking sec...

Commercial banks in Ghana are now actively courting borrowers, a development the Bank of Ghana (BoG) attributes to improving liquidity conditions and a strengthening banking sector following recent monetary easing. Governor Dr. Johnson Asiama revealed at the 128th Monetary Policy Committee (MPC) press briefing in Accra on January 28 that banks have started reaching out directly to customers to offer loans at significantly lower rates. Banks are beginning to call clients if they need loans," Dr. Asiama said, describing the development as a positive signal of renewed confidence within the banking system. This indicates improved balance sheets, stronger liquidity positions, and a willingness by lenders to extend credit to the private sector. The Governor's remarks followed the BoG's decision to cut the Monetary Policy Rate (MPR) by 250 basis points, from 18% to 15.5%, its first policy move for 2026. This builds on an earlier 350-basis-point reduction in November 2025, when th...

  MTN Ghana has announced a US$ 2 million contribution to the Ministry of Communications, Digital Technology and Innovations to support the Government of Ghana’s flagship One Million Coders Programme, a strategic initiative to accelerate the nation’s digital transformation agenda and deepen youth empowerment and skills development. The funding will help the Government of Ghana to train one million Ghanaians in coding and digital skills, equipping young people with future-ready competencies to participate effectively in the digital economy and contribute to national development. The contribution follows a commitment by MTN Group’s Chief Executive Officer Ralph Mupita and Vice President (VP) for Ghana, Southern and East Africa, and Ghana, Ebenezer Asante and Stephen Blewett during engagements with the Minister of Communications, Digital Technology and Innovations on the sidelines of the GSMA Mobile World Congress in Barcelona last year. These discussions focused on strengthening publ...

  The Administrator of the E-waste Fund, Anthony Akwetea-Mensah, has called for an enhanced public education and awareness creation on electrical and electronic waste management in the country. ‎The call comes on the back of an observation he has made suggesting that majority of Ghanaians still do not appreciate the need for proper disposal of their old electronic gadgets and appliances and it’s consequential impact on the environment. ‎Majority of us don’t even know what E-waste is about. People don’t see why we’re collecting these things; so the task for us now is to get people to appreciate the need to properly dispose their E-waste” he said. ‎He argued that the adverse impact of improper management of E-waste in the country may ultimately be more serious than illegal mining otherwise known as galamsey. ‎Look, I always tell people that the waste that we’re going to get out of electronics, the damage will even be more serious than galamsey. ‎”But it is not destructive as we see [...

The Bank of Ghana (BoG) has announced a reduction in the Monetary Policy Rate (MPR) from 18% to 15.5%, marking its first policy decision of 2026. This 250-basis-point cut was made by a majority decision of the Monetary Policy Committee (MPC) and was revealed by Governor Dr. Johnson Asiama during a press briefing at Bank Square on Wednesday, January 28. This 250-basis-point cut is expected to have a positive impact on businesses, as it will likely lead to lower lending rates, making borrowing cheaper and increasing access to credit. This implies that businesses can benefit from lower interest rates on overdrafts, inventory loans, and project financing, easing liquidity constraints The latest reduction follows a significant 350-basis-point decrease in November 2025, when the MPR was lowered from 21.5% to 18% in response to easing inflationary pressures. Dr. Asiama emphasized that the decision reflects anticipated improvements in key macroeconomic indicators both domestically and globally...

  Ghana has ended 2025 on a high note, with its total export earnings hitting a record US$31.1 billion, according to the Bank of Ghana's Summary of Economic and Financial Data released on January 27, 2026. This represents a significant increase from the US$19.1 billion recorded in 2024. Gold led the charge, accounting for US$20 billion of the total export earnings, up from US$10.3 billion in 2024. Cocoa followed closely, fetching the country US$3.8 billion in 2025, a notable increase from the US$1.9 billion recorded in 2024. This is particularly interesting given the declining prices of the commodity on the international market. However, the total oil exports decreased from US$3.8 billion to US$2.6 billion, likely due to the declining crude oil prices on the international market. Other exports brought in US$3.6 billion. On the import side, Ghana spent US$17.4 billion in 2025, with oil imports increasing to US$5.1 billion from US$4.6 billion in December 2025. Non-oil imports also ro...

  Mobile money (MoMo) transactions in Ghana surged to a record GH¢518.4 billion in December 2025, underscoring the growing dominance of digital payments in the country’s financial system, according to the latest Bank of Ghana Summary of Economic and Financial Data. The December figure represents the highest monthly value recorded in 2025, driven by increased consumer activity during the festive season and the sustained expansion of mobile money usage. Transaction volumes climbed to 982 million in December, up from 892 million in November, reflecting both higher spending and wider adoption of digital payment channels. Active mobile money accounts rose sharply to 26.7 million in December, compared with 25.5 million a month earlier, while the number of registered accounts increased to 80.5 million, highlighting continued gains in financial inclusion. The mobile money agent network also expanded, with 491,000 active agents recorded at the end of the year. Balances held in mobile money ...

  The Ghana cedi has taken a hit in the first month of 2026, losing 4.0% of its value to the US dollar. According to the Bank of Ghana's January 2026 Summary of Economic and Financial Data, the cedi traded at GH¢10.88 to one American greenback in January 2026, compared to GH¢10.45 in December 2025. In the retail market, the local currency sold at GH¢12.00 to one American greenback. This depreciation is a reversal of the cedi's strong performance in 2025, where it ended the year with a year-to-date gain of 40.7%. The cedi had started 2025 on a weak note, losing 3.9% in value to the US dollar, but it gained momentum in May 2025, recording a 43% gain against the American greenback since January 1, 2025. The cedi's mixed performance was also evident in its trading against other major currencies. It lost 4.9% and 4.1% to the pound and euro, respectively, in January 2026, trading at GH¢14.77 and GH¢12.80 to the pound and euro in the interbank market. Over the last two weeks, the ...

Ghana is looking to Australia for inspiration as it plans to introduce a 24-hour economy aimed at boosting productivity through multi-shift labour systems. Minister for Lands and Natural Resources, Emmanuel Armah Kofi-Buah, stated that Australia's experience, particularly in its service and industrial sectors, offers valuable insights for Ghana's economic expansion plans. Speaking at Australia Day celebrations in Accra, Kofi-Buah expressed Ghana's appreciation for Australia's long-standing investment and development support, especially in the extractive sector. He also welcomed the planned launch of the Australian Centre for International Agricultural Research office in Accra, which will strengthen collaboration in areas like climate change adaptation, food security, and agricultural development. Australia's High Commissioner to Ghana, Berenice Owen-Jones, pledged continued commitment to deepening relations between the two countries, citing shared values, mutual res...

  Accra has been ranked the 8th most expensive city in Africa, highlighting the ongoing cost-of-living pressures in Ghana despite economic stabilization efforts. With a cost-of-living index of 36.6, Accra surpasses several North and East African capitals, according to Numbeo's 2026 Cost of Living Index. Grocery prices are a major contributor, with Accra's index of 42.4 among the highest in Africa, pointing to food inflation and supply chain issues. Restaurant prices are also elevated at 39.1. However, rent costs are relatively moderate at 11.4. The city's weak purchasing power index of 12.7 means incomes buy less than in peer cities, explaining why cost pressures are felt acutely. Abidjan leads the African ranking with a cost-of-living index of 45.2, followed by Addis Ababa at 42.6. Within West Africa, Accra is the second most expensive city after Abidjan, due to currency depreciation, high import dependence, and lingering inflationary effects. The ranking highlights the ne...

 Ghana Water Ltd. (GWL) has pledged to restore reliable water supply to Anfoega and surrounding communities following prolonged shortages. This assurance was given during a visit by GWL Managing Director, Hon. Adam Mutawakilu, and senior officials to the Paramount Chief of Anfoega Akukome, Togbe Tepre Hodo IV. The visit aimed to engage traditional authorities, assess the water crisis firsthand, and address long-standing operational challenges affecting the Kpando area. The Paramount Chief welcomed the visit, noting that previous efforts to engage GWL had been unsuccessful, forcing residents to rely on unsafe water sources and exposing them to health risks. GWL explained that although the Kpando Water Treatment Plant has a capacity of 6,400 cubic metres per day, it currently produces only about 3,000 cubic metres, leaving room for improvement. Mutawakilu assured the community that the Company would implement long-term solutions to improve water production and distribution, in line w...

  Ghana needs to accelerate its shift to clean transport to reap benefits like reduced emissions, improved public health, and a stronger automotive industry. The UK-Ghana Jobs and Economic Transformation (JET) Programme made this call on International Day of Clean Energy, highlighting Ghana's potential to drive industrial growth and create quality jobs. Transportation accounts for nearly half of Ghana's energy-related emissions, with levels rising 15% between 2015 and 2023 due to fossil fuel dependence, ageing vehicles, and urbanization. Air pollution costs Ghana's economy $3 billion annually, or 4% of GDP, and is the second leading cause of deaths. The JET Programme outlined priority actions for Ghana: fast-track approval of the revised Ghana Automotive Development Policy, support asset-based vehicle financing, and prioritize government procurement of locally assembled vehicles. This could deliver cleaner air, safer roads, skilled jobs, and reduced emissions. Ghana's a...

  The Bank of Ghana (BoG) is emphasizing the importance of managing market expectations to sustain the cedi's recent stability. Governor Dr. Johnson Pandit Asiama noted that the cedi's strong performance in 2025 was driven by improved confidence and a stronger external position, but warned that going forward, sentiment and perceptions will play a bigger role. The cedi has been remarkably stable in 2025, reflecting improved confidence and a strong external position. While recent pressures appear largely seasonal, expectations will now play a central role in sustaining stability," Dr. Asiama said at the 128th Monetary Policy Committee meeting. The BoG is shifting focus from structural factors to confidence, communication, and policy credibility to maintain currency stability. Ghana's improved external buffers and current account performance have helped anchor the cedi, but the central bank is aware that negative expectations could quickly reverse gains. Dr. Asiama stress...

The Design and Technology Institute (DTI) has launched an Alumni Ambassador initiative to mobilise its graduates as visible advocates of the Institute’s values and as champions of technical and vocational education and training (TVET) across industry and communities. The inaugural Alumni Ambassador Workshop and Launch held in Accra, convened graduates from diverse professional fields for dialogue, capacity‑building and action planning on how to strengthen DTI’s visibility, partnerships and influence. Opening proceedings, Emmanuel Kojo Ampomah, Principal of DTI, underscored the centrality of alumni to the Institute’s mission. What makes a good school is not its infrastructure alone, but the quality of the lives that are transformed,” he said, adding that the true proof of DTI’s impact “is in you, the alumni”. He encouraged graduates to uphold DTI’s values in their conduct and careers and to “pass it forward” by mentoring others and creating opportunities. Karl Adu Dankwah, President of ...

  The Head of Technology Delivery and APO at Stanbic Bank Ghana, Jalilu Issahaku, has emphasized the importance of building secure, reliable and convenient digital payment systems to sustain customer trust and strengthen Ghana’s transition toward a fully interoperable payment ecosystem. He made the remarks during a panel discussion at the 10DX Summit - Ghana Edition - where industry leaders examined the future of everyday payments in the country. Speaking on the topic “From Trotro to Till: The Future of Everyday Payment in Ghana,” Issahaku said banks and payment service providers must prioritize consistent system availability and robust end-to-end security to support the needs of customers who transact across borders and time zones. He stated that today’s financial consumer expects digital platforms to be active and secure regularly. “We must ensure that the security built into the entire system is truly end-to-end. Our customers are located across the world, in China, Australia an...

 Meet Delores and Jane. They work in the same office and commute from similar neighbourhoods. Both women earn GHS 3,000 every month. However, their financial lives could not be more different. Delores keeps a small notebook that she updates a week before payday. She already knows how much will go into savings, what she will invest, which bills are due, and even how much she can spend on small treats. By the time her salary is paid, every cedi already has an assignment. Jane, on the other hand, always promises herself she will “plan later.” But when payday arrives, the pressure arrives with it. Family requests, unplanned expenses, last-minute social outings, impulse purchases, and mobile money deductions. By mid-month, she is left wondering where all the money went. Same income, two completely different outcomes. The difference is not luck. It is not just about how much you earn; it is about how deliberately you decide the job your money must perform. This is the essence of financia...

 Loan defaults in Ghana have reached levels that go beyond isolated borrower missteps to reveal systemic weaknesses throughout the financial sector. According to recent data from the Bank of Ghana, the banking industry’s Non-Performing Loan (NPL) ratio, the share of loans in default, has hovered persistently above 20 per cent since 2023, with figures around 23 – 24 per cent in 2025 and an absolute stock of bad loans exceeding GHS20 billion. These elevated NPL ratios mean that roughly one in four loans issued by financial institutions is currently non-performing, a stark indicator of credit stress. Such pervasive distress invites a deeper interrogation of causality beyond the traditional borrower-blame narrative. Loan defaults are commonly attributed to borrower failure, yet an objective assessment of credit risk reveals that lenders themselves can significantly contribute to the problem. Weak internal practices, poor judgment, and commercial pressures within financial institutions ...

  The Ghana cedi emerged as Africa’s best-performing currency in 2025, according to data from the International Monetary Fund (IMF) analysed across more than 20 major economies on the continent. The IMF data shows that the cedi appreciated by more than 40 per cent against the US dollar in 2025, making it the strongest-performing currency in Africa over the period, ahead of more than 20 other African currencies tracked in the assessment. The findings come at a time when earlier reports by some international news wires and global financial firms had ranked the Ghana cedi as the fourth-best-performing currency on the continent. However, the IMF’s latest assessment suggests that, after a full-year review of the data, the cedi emerged as the top performer in Africa in terms of US dollar appreciation. Market watchers have attributed the cedi’s strong performance to policy measures implemented by the Bank of Ghana and reforms under the IMF-supported programme. By the end of 2025, the Bank...

  The Bank of Ghana is urging all financial institutions to conduct fit and proper tests annually for all board members and managers. It also wants it to be done before appointment of any director or key management personnel. It disclosed this in questions and answers session on the new guidelines on the Fit and Proper persons for Accountable Institutions. On what accountable institutions should do during the assessment, the Central Bank called for the conduct of a comprehensive due diligence. It also advised the verification of all material information through an independent source. The documents required for assessment are the application letter, updated CV, the personality note form, tax clearance certificate, certified financial statement of affairs, copies of academic and professional certificates, police report, enhanced due diligence questionnaire, regulatory references (minimum six years), bankruptcy or insolvency certificate (if applicable) and beneficial ownership disclos...

  The price of gold has risen above $5,000 (£3,659) an ounce for the first time ever, extending a historic rally that saw the precious metal jump by more than 60% in 2025. It comes as tensions between the US and NATO over Greenland have added to growing concerns about financial and geopolitical uncertainty. US President Donald Trump's trade policies have also worried markets. On Saturday, he  threatened to impose a 100% tariff on Canada  if it strikes a trade deal with China. Gold and other precious metals are seen as so-called safe-haven assets that investors buy in times of uncertainty. On Friday, silver topped $100 an ounce for the first time, building on its almost 150% rise last year. Demand for precious metals has also been driven by a range of other factors, including higher-than-usual inflation, the weak US dollar, buying by central banks around the world and the expectation that the US Federal Reserve will cut interest rates again this year. Wars in Ukraine and G...