Kofi Ahovi

  President William Samoei Ruto has outlined an ambitious plan to transform Kenya ’s energy landscape through the adoption of nuclear power, positioning it as a cornerstone of the country’s long-term economic and industrial strategy. Speaking at the International Conference on Nuclear Energy 2026 in Nairobi , the President announced that Kenya aims to more than triple its installed electricity capacity from 3,300 megawatts to at least 10,000 megawatts within the next five to seven years. Of this, 3,000 megawatts will be generated from nuclear energy. As part of the roadmap, construction of a 2,000MW nuclear power plant in Siaya County is expected to begin in 2027, with commissioning targeted for 2034. President Ruto underscored the central role of energy in national development, stressing that reliable power supply is critical to unlocking industrial growth and economic transformation. He noted that  “Energy is the lifeblood of industrialisation, innovation, and economic tran...

 The MTN Ghana Foundation has committed GHS1.2 million to support smallholder women farmers and unemployed youth through a modern farming initiative aimed at enhancing agricultural productivity and skills development. As part of activities to commemorate the 2026 International Women’s Day under the theme “Give to Gain,” the Foundation pledged to establish a model farm at Pantang Hospital in the La Nkwantanang Municipality. The project is designed to equip an initial group of 60 smallholder women farmers with advanced agricultural techniques to improve both yield and efficiency. The model farm initiative is being implemented in collaboration with the La Nkwantanang Municipal Agriculture Department and Defarmercist. Together, these partners provide specialized expertise in agronomic support and capacity building to empower women farmers across the municipality. The initiative also forms part of the Foundation’s broader efforts to celebrate and support women in agriculture, recognizin...

  Corporate payments are the lifeblood of modern commerce. From supplier settlements and payroll to cross-border transactions and collections, the efficiency of payment systems directly influences how businesses operate, scale, and compete. In Ghana, as in many emerging markets, digital transformation is rapidly reshaping the way businesses interact with banks and manage financial flows. What was once a largely manual and fragmented process is evolving into a more integrated, real-time, and data-driven ecosystem. Yet the transformation is driven by the need to address persistent challenges within the traditional payment systems and to ensure that the fast‑evolving needs of modern corporates are effectively addressed. Historically, many corporate payment processes in Ghana have relied on manual workflow and legacy infrastructure. Paper-based instructions, cheques, and batch uploads remain common across organizations, often leading to delays, reconciliation challenges, and operationa...

  Auditor-General has revealed that GH¢20 million was paid as mobilisation funds for the construction of a Parliamentary Service Hospital, despite no work being done on the project. The payment was made on December 31, 2024, under the administration of former President Nana Addo Dankwa Akufo-Addo, according to findings presented to Parliament’s Public Accounts Committee. The contract for the project was signed by former Minister of Health Bernard Okoe Boye. Appearing before the committee on Wednesday, April 1, 2026, the Administrator of the District Assemblies Common Fund, Michael Yamson, said the project has stalled due to a change in location from the parliamentary precincts to the National Security premises. Between the Government, specifically, the Ministry of Health, and Sienna Services, for the construction of a specialised hospital for Parliament, an agreement was reached to pay 15% mobilisation of GH¢108 million, out of which GH¢20 million was paid,” he said. “We have writt...

 Ghana is hosting a three-day strategy meeting of the African Group of Negotiators (AGN), with climate experts and national focal points working to consolidate a unified African position ahead of COP31 in Turkey and COP32 in Ethiopia. The meeting, running from March 30 to April 1, is the first in-person strategic session under Ghana’s chairmanship of the AGN—a milestone marked by the assumption of leadership by Nana Dr Antwi-Boasiako Amoah, the first Ghanaian to chair the group since the country signed the UN climate convention in 1992. Welcoming participants, the Chief Executive Officer of the Environmental Protection Authority, Prof. Nana Ama Browne Klutse, said Africa’s influence in global climate talks depends on its ability to stay united. “Africa’s strength in global climate negotiations has always been its unity,” she said, describing the meeting as timely and essential in shaping Africa’s priorities ahead of the next two COPs. Prof. Klutse noted that although Africa contrib...

  Utility consumers across Ghana will begin enjoying lower electricity and water bills from today, April 1, following a downward tariff adjustment by the Public Utilities Regulatory Commission (PURC). The Commission announced a 4.81% reduction in electricity tariffs and a 3.06% decrease in water charges for the second quarter of 2026. The new rates take immediate effect as part of PURC’s routine quarterly tariff review mechanism. In a statement, the regulator explained that the adjustments reflect recent changes in key economic indicators, including the exchange rate between the Ghana cedi and the US dollar, inflation trends, the electricity generation mix, and the cost of fuel—particularly natural gas used in thermal power production. PURC noted that the tariff review process is designed to ensure utility pricing remains aligned with prevailing economic conditions while balancing the interests of consumers and service providers. In addition to the reductions, the Commission introd...

  Global renewable energy capacity recorded a sharp increase in 2025, rising by 692 gigawatts (GW) to reach a total of 5,149 GW, according to the latest report by the International Renewable Energy Agency (IRENA). The report, Renewable Capacity Statistics 2026 , shows that renewables accounted for 85.6% of all new power capacity added worldwide, underlining their growing dominance in the global energy mix. This represents a 15.5% annual increase and highlights the accelerating shift away from fossil fuels. The surge comes amid renewed geopolitical tensions, particularly in the Middle East, which have heightened concerns over energy security, supply disruptions, and volatile fossil fuel prices. IRENA noted that renewable energy—being locally available, cost-effective, and rapidly deployable—offers countries a more stable and resilient alternative. Director-General of IRENA, Francesco La Camera, said the sector continues to show strong momentum despite global uncertainty. “In the mid...

  Ghana’s inflation rate eased further to 3.2% in March 2026, marking its lowest level since the 2021 Consumer Price Index (CPI) rebasing, according to new data from the Ghana Statistical Service. The latest figure represents a slight drop from 3.3% recorded in February and a sharp decline from 22.4% in March 2025—a year-on-year fall of 19.2 percentage points. It also extends Ghana’s disinflation trend to 15 consecutive months since January 2025, signaling sustained macroeconomic stabilisation. On a monthly basis, however, prices edged up marginally by 0.1% between February and March, indicating modest increases in the general price level. Food inflation continued to ease, falling to 2.3% from 2.4% in February, with prices declining by 0.3% month-on-month—offering some relief to households. Non-food inflation also dipped slightly to 3.9%, although prices in this category rose by 0.3% over the same period. A sharper divergence was observed between goods and services. Inflation for g...

  Geopolitical conflicts have historically played a decisive role in shaping global economic outcomes, particularly through their influence on capital markets. The escalating tensions and military confrontation involving Iran, Israel, and the United States represent a critical inflection point for the global financial system. Unlike localized conflicts, this crisis sits at the center of global energy supply chains, international finance, and geopolitical power dynamics, making its economic consequences both immediate and far-reaching. For global capital markets, the war introduces uncertainty, disrupts supply chains, and triggers a reallocation of capital across asset classes. For emerging economies such as Ghana, the effects are even more pronounced due to structural vulnerabilities, including dependence on imported fuel, exposure to currency volatility, and reliance on external capital flows. This article provides a detailed and analytical examination of how the conflict is resha...

  Stanbic Bank Ghana LTD delivered strong earnings rebound in 2025, posting a sharp increase in profitability and revenue growth indicative of renewed confidence in Ghana’s banking sector amid improving credit conditions and expanding non-interest income streams. The bank recorded a profit after tax of GHS1.61 billion for the year ended December 2025, a 38.4 percent increase over the GHS1.16 billion reported in 2024, affirming one of the strongest year-on-year performances among tier-one banks during the period. The results reflect a combination of higher trading income, improved asset quality and sustained balance sheet expansion, even as banks continued to operate within a cautious post-debt restructuring economic environment. Total net income rose to GHS4.46 billion, representing a 22.2 percent increase year-on-year, supported by growth across both funded and non-funded income lines. Net interest income climbed 13 percent to...

  Amantin and Kasei Community Bank, based in Amantin in the Bono East Region, plans to expand financing for agribusiness in 2026, targeting key players across the agricultural value chain as part of efforts to support rural economic growth. The lender has earmarked more than GH¢21.19 million for loans to about 1,000 agribusiness operators, representing roughly 15 per cent of its projected GH¢140 million loan portfolio for the year. Beneficiaries are expected to include smallholder farmers, farmer cooperatives, agro-input suppliers, produce aggregators and traders, agro-processors, as well as logistics and warehouse operators. Lending will focus on major value chains such as maize, rice and cowpea, cassava and yam, livestock and horticultural crops. The initiative is intended to improve access to finance for agricultural entrepreneurs in the bank’s operating areas, where many small-scale producers and traders struggle to obtain credit for production and marketing activities. The Chi...

  Paymentology, the leading global issuer-processor, today announced a new partnership with Bank Zero to accelerate access to modern digital banking in South Africa. As Bank Zero’s first alliance partner, Paymentology supports the bank’s vision of enabling organisations to participate more easily in financial services through its scalable, cloud-native infrastructure. Bank Zero, a branchless, app-driven bank built from the ground up with cutting-edge digital thinking, brings deep local market expertise and a modern approach to banking. Combined with Paymentology’s global card processing expertise and long-standing presence in South Africa, the partnership brings together local market insight and scalable payments infrastructure to power the next generation of financial services while meeting South Africa’s regulatory requirements. Through this partnership, fintechs, retailers, SMEs and digital platforms will be able to...