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Energy

PURC Collaborates with ECG and GRIDCo to Ensure Reliable Power Supply for Consumers During the 2026 FIFA World Cup

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As the nation prepares for the excitement of the 2026 FIFA World Cup, the Public Utilities Regulatory Commission (PURC) is taking proactive steps to safeguard the interests of electricity consumers. To ensure that football fans across the country enjoy an uninterrupted viewing experience, the Commission convened a strategic alignment meeting on Tuesday, 9th June 2026, with leadership of Ghana Grid Company (GRIDCo) and the Electricity Company of Ghana (ECG). The meeting focused on reviewing preparedness plans and aligning operational measures for seamless system operations throughout the World Cup period. The Executive Secretary of PURC, Dr. Shafic Suleman, outlined a strict follow-up framework to monitor performance closely and to ensure strict regulatory oversight on quality of service: • Active Monitoring: The PURC’s Energy Services and Performance Monitoring (ESPM) and Regional Operations and Consumer Services (ROCS) Directorates are collaborating to actively monitor power supply reliability and service quality. • Direct Coordination: The Commission is obtaining direct contact details of key technical personnel from both utilities to facilitate instant regulatory intervention during emergencies. • Unified Messaging: PURC has directed GRIDCo and ECG to maintain a joint stakeholder communication framework for maximum public accountability. Streamlined Utility Commitments
The utility service providers outlined concrete operational measures to the Commission to maintain network stability: Electricity Company of Ghana (ECG):
The Ag. Managing Director of Electricity Company of Ghana (ECG), Ing. Kwame Kpekpena, outlined the following measures: • Suspended Maintenance: All planned maintenance should be halted and that work should only be restricted to emergency fault rectifications. • Standby Teams: Technical teams and contractors would be stationed near heavy-demand centres for rapid response. • Asset Protection: Service Providers should partner with National Security for increased surveillance around critical infrastructure. • Consumer Updates: Service Providers should prioritise public announcements to assure consumers of prompt fault restorations. Ghana Grid Company (GRIDCo):
The Chief Executive Officer of GRIDCo, Ing. Frank Otchere, outlined the following measures: • Grid Fortification: All identified hotspots within the electricty network should be addressed, and all non-critical planned maintenance should be deferred. • Vegetation Management: Intensify bush clearing along transmission lines, which has been ongoing since May 2026. This is to prevent any tree branches falling over electricty lines, thereby affecting quality of supply. • 24/7 Operations: All major substations will be physically manned around the clock, with Area Managers deployed for swift resolution of issues. • Generation Alignment: Optimized generation schedules have been finalised with power-producing companies. Dr. Suleman commended both ECG and GRIDCo for coming out with such proactive and consumer-centric measures to provide reliable power supply to the Ghanaian consumers. This is a signal of intentional efforts to serve and protect the interest of the Ghanaian consumers. The PURC remains fully committed to protecting consumer rights. The Commission would continue to monitor operations of the service providers and is on standby to address in a timely manner any unforseen issues that may come up. Source: https://purc.com.gh/news-det/635782014

Special Features

Ghana’s TVET Programme Is Producing Certified But Unskilled Fashion Workers – Joyce Ababio

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The President of JACCD Design Institute Africa, Madam Joyce Ababio, has raised concerns about the quality of training being produced under Ghana’s TVET programme, arguing that its competency-based structure is churning out graduates who are certified but not skilled.   Speaking exclusively to Business Outlook Africa, Madam Ababio argued that by the time a trainee completes the early proficiency levels, they have yet to touch any practical aspect of the work, meaning those who exit at that stage enter the industry without the hands-on knowledge the job demands. She then advocated for the structure to be changed so that the students can get proper education and training to ensure they know more about the work once they are done with the program.   “ You see, when the TVET programme, for instance, it’s a competency-based training. And it goes through you doing proficiency one to proficiency two, to certificate one, to certificate two, to HND, to BTEC. By the time you are at BTEC, it’s like you have a degree.Do you understand? So when you pick people when you teach them proficiency one and proficiency two, you haven’t even touched any part of the work at all. Not at all. So when you say I’m done, these people are not skilled workers.They don’t know anything at all. And that is what we need to work towards, getting them proper training so that they know the work to do.” She stated   Madam Ababio further highlighted access to finance as another major obstacle, noting that designers and manufacturers in the industry struggle to secure loans and when they do, the high cost of interest from banks makes borrowing an additional burden rather than a solution.   “And also finding funding, finance. We cannot get alone to do these things.The banks, the cost of interest, crazy. It’s also something else. ” She added   Madam Ababio then noted that,despite the challenges when the right policy interventions are made, the country has everything it takes to become a dominant force in the global fashion industry. Watch full interview here:

Banking & Finance

MobileMoney Fintech LTD Releases Historic Strategic White Paper On Strengthening Ecosystem Collaboration Against Digital Fraud

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MobileMoney Fintech LTD (MMFL) has released a strategic white paper titled Uniting Against Digital Fraud: Strengthening Ecosystem Collaboration in Ghana’s Digital Financial Services Sector, reinforcing the urgent need for coordinated, cross-sector action to address the growing threat of digital fraud within Ghana’s financial ecosystem. The historic white paper captures strategic insights from the MobileMoney Fintech Partner Exchange, a high-level stakeholder forum convened by MMFL in April 2026. The engagement brought together senior representatives from regulatory institutions, financial service providers, fintechs, law enforcement agencies, telecommunications stakeholders, and agent networks to examine the evolving fraud landscape and identify practical pathways for ecosystem-wide resilience. As Ghana’s digital financial services sector continues to expand in scale, sophistication, and national relevance, the white paper highlights the corresponding need for a more integrated and intelligence-led approach to fraud prevention and response. It underscores the reality that digital fraud has become an ecosystem challenge requiring stronger collaboration, faster decision-making, improved information sharing, and sustained investment in secure digital channels and frontline protection. The publication outlines several strategic priorities identified through the stakeholder dialogue, including the establishment of joint coordination mechanisms, the strengthening of intelligence-sharing frameworks, the acceleration of secure digital adoption, and the enhancement of consumer and agent education. Commenting on the release, CEO of MobileMoney Fintech LTD, Mr Shaibu Haruna, said, “The continued growth of Ghana’s digital financial ecosystem depends not only on innovation and access, but also on our collective ability to protect the integrity of the system. This white paper reflects a shared recognition that ecosystem security must be approached as a collective responsibility, anchored in collaboration, trust, and coordinated action.” The white paper further affirms MMFL’s role as an ecosystem enabler committed to working with public and private sector stakeholders to strengthen resilience, safeguard consumer trust, and support the sustainable growth of digital financial services in Ghana. Through this publication, MMFL seeks to contribute meaningfully to industry discourse and support the development of practical, long-term solutions that reinforce trust, security, and confidence across the digital financial ecosystem. Here is the white paper file:///Users/masahudu/Downloads/WHITE%20PAPER-%20UNITING%20AGAINST%20DIGITAL%20FRAUD.pdf Source:African Eye Report  

Economy

Ghana’s Economy Grows 6.4% in Q1 2026 — GSS

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The Ghana Statistical Service (GSS) has indicated a 6.4% growth in the country’s GDP for the first quarter of 2026, compared to a growth rate of 6.2% in the same quarter of 2025. In its latest Quarter 1 GDP Estimates and March 2026 Monthly Indicators of Economic Growth report, it also highlighted an expansion of non-oil GDP to 6.3%, indicating a broad-based expansion across the economy other than a single sector expansion. Largely accounting for the expansion and growth in the GDP for the period was the Services and Industry which recorded a growth of 7.1% and 6.9% respectively. The Services Sector accounted for 48.3% of the total growth with the Industry Sector also accounting for 34.1% of the total growth. At the sectoral level, Information and Communication recorded the strongest growth at 25.2%, followed by Transport and Storage at 13.0%, and Mining and Quarrying at 10.7%. During the quarter, monthly economic activity continued to be strong with a growth of 6.1% recorded in January, 7.7% in February and 5.4% in March. Despite the strong outturn, the Ghana Statistical Service flagged areas requiring attention hence identified three priorities emerging from the data which is sustaining macroeconomic stability, investing in high-growth sectors such as ICT, Trade, Transport and Mining, and addressing areas of weakness including Fishing, Accommodation and Food Services, and Water and Sewerage.

Africa

IMF to hold second annual MENA Research Conference at Rabat, Morocco

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The International Monetary Fund (IMF) will partner the Mohammed VI Polytechnic University to hold the second annual MENA Research Conference scheduled for June 29-30, 2026 in Rabat, Morocco. The conference, which will be held under the theme “Rethinking MENA Integration in a Fast‑Changing Global Environment”, will examine the impact of global trade, geoeconomic fragmentation, and technology, including artificial intelligence, on the MENA region with other featured sessions to also discuss the role of monetary, fiscal, and labor market policies in promoting macroeconomic stability in an increasingly uncertain global environment. Speaking ahead of the conference, Director of the Middle East and Central Asia Department of the International Monetary Fund ,Jihad Azour and the Executive Vice-President of Mohammed VI Polytechnic University,Karim El Aynaoui,issued the following statement today: “The war in the Middle East threatens to leave lasting scars on the region’s economic trajectory. This unprecedented shock is forcing countries across the region to reassess their path forward amid an already complex and challenging environment shaped by rapid technological change and shifts in global trade patterns.” they said The two officials also reaffirmed the IMF’s commitment to the region, describing the annual conference as a critical platform for research, policy dialogue, and collaboration. “The IMF’s engagement with the MENA region reflects its longstanding commitment to supporting countries’ efforts to maintain macroeconomic stability, enhance resilience and growth, accelerate reforms and raise living standards in an increasingly challenging regional economic environment,” they added. The  second edition of the conference comes after the inaugural edition which was  held last year, in partnership with the Onsi Sawiris School of Business at The American University in Cairo,Egypt.The International Monetary Fund (IMF) Middle East and North Africa (MENA) Research Conference is an annual economic research conference which is held in partnership with leading universities in the region and aims to establish a forum for dialogue and knowledge exchange among academics, researchers, and policymakers on significant regional and global economic issues. It also seeks to strengthen economic research capacities in ministries of finance and central banks in the region.  

Transportation

DVLA cautions public against fake SMS payment links and online fine scams.

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The Driver and Vehicle Licensing Authority (DVLA) has warned the public against scammers posing as the Authority and sending fake fines to unwitting members of the public. In a statement released on June 10,2026,the Authority explained that the scammers send SMS messages containing links that redirect recipients to fake platforms, where they are asked to pay supposed DVLA fines sometimes with claims of discounts or urgent payment deadlines. The DVLA warned that these messages are fake and should be ignored by the general public. The Authority also stated that they barely provide discounts on fines and that any SMS, web, platform or individual claiming to provide discount on DVLA fines should be regarded a fraud. It also reminded the public that the only acceptable online payment gateway for DVLA transactions is the Government of Ghana’s official payment platform at https://www.Ghana.gov.gh, and that its official website remains www.dvla.gov.gh. Members of the public who receive such suspicious messages are encouraged to report them to the nearest DVLA office or the appropriate law enforcement agency.

Technology

Ghana Warns: Weak Digital Systems Make West Africa Vulnerable to Foreign Control

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The Minister for Communication, Digital Technology and Innovations,Samuel Nartey George has called on West African developers and cybersecurity professionals to treat the region’s digital security as a matter of national sovereignty, warning that countries unable to defend their digital infrastructure risk becoming dependent on foreign vendors and external decision-making. The Minister made the call on Tuesday, June 9, 2026, at the opening of the ECOWAS Regional Hackathon at the Mensvic Grand Hotel in Accra noting that that the digital progress made across West Africa in recent years is now under significant threat. According to him, ransomware attacks are locking hospitals out of patient records, while business email compromise scams are draining millions of dollars from companies and government institutions under the guise of legitimate transactions hence warning that organised criminal networks are running sophisticated, cross-border fraud operations. “These are not distant, abstract threats,they are happening in our cities, within our financial systems and institutions right now. The perpetrators are technically capable, well-resourced, and increasingly sophisticated.”he said. The Minister acknowledged progress made by Ghana’s Cyber Security Authority (CSA), noting its collaboration with other security agencies to dismantle cybercrime and trafficking-linked scam centres, leading to the arrest of hundreds of suspects. However, he expressed concern that many of those arrested were young people with genuine technical skills that had been misdirected. “These are young people with real technical ability, but whose skills have been pointed in the wrong direction,” he observed. Samuel Nartey George highlighted the global shortage of over four million cybersecurity professionals, with Africa facing the widest gap hence urging participants to view this not as a weakness, but rather as an opportunity. “This is not a sign of weakness, but of opportunity. The world urgently needs your skills. Our challenge is to build and channel sufficient talent quickly to address real-world problems,” he said. He also referenced warnings by the World Economic Forum that as artificial intelligence accelerates digital adoption, countries lacking the capacity to secure their digital infrastructure risk dependence on foreign expertise. “That is not a position any sovereign nation wants to be in,” he emphasised. Addressing participants directly, the Minister encouraged participants to consider the ethical implications of their innovations. “The most powerful technology, in the wrong hands or without ethical guardrails, does not create prosperity, it creates risk. What distinguishes great engineers from good ones is not just the ability to build, but whether what they build makes people safer, more empowered, and better off,” he noted. He then reaffirmed Ghana’s commitment to advancing the region’s digital future. “Ghana is fully committed to this future and to working with every ECOWAS member state, every partner, and every one of you to make it a reality,” he concluded. The ECOWAS Regional Hackathon 2026 is a 48-hour event organised by the ECOWAS Commission in partnership with Ghana’s Cyber Security Authority.

News

Kasapreko PLC Successfully Completes Oversubscribed Initial Public Offer

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Kasapreko PLC has announced a successful conclusion of its Initial Public Offering(IPO) having raised GHS 700,000,000 through its issuance of 583,333,333 new ordinary shares at GHS 1.20 per share. In a statement released on June 9,2026 indigenous beverage manufacturer revealed that its IPO was oversubscribed by 146%,representing subscriptions of GHS 1.73 billion from 18,781 qualified applicants. The Beverage Manufacturer futher revealed that allotted shares using the uniform allocation rate of 40.56% across all investor categories spanning, Local Individual Investors,Local Institutional Investors, Foreign Individual Investors and Foreign Institutional Investors with each receiving 76,764,925 shares,440,683,648 shares,1,278,280 shares and 64,606,480 shares respectively. Kasapreko further added it has already credited each share allocated to the Central Securities Depository(CSD) accounts of all applicants and that it is actively working hand in hand with Brokers to ensure all refunds are completed by Thursday,June 11th,2026. With the refunds reflecting the difference between the applicant’s subscription amount and the value of the shares allotted to them. After a successful IPO, Kasapreko PLC is expected to list on the Ghana Stock Exchange on Monday,June 15,2026 where it will trade under the name KASA (ISIN: GHEKCPI00011). Kasapreko PLC is a Ghanaian multinational beverage company that produces a wide range of alcoholic and non-alcoholic idrinks.Established in 1989, Kasapreko is known for its flagship product, Alomo Bitters, a herbal alcoholic drink. Over the years, Kasapreko has expanded its portfolio to include additional beverage products, including whiskey, gin, wine, soft drinks, and drinking water.

Africa

IMF Approves $250 Million ECF Arrangement for Rwanda Amid Global Headwinds

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The Executive Board of the International Monetary Fund has approved a 38-month arrangement under the Extended Credit Facility for Rwanda, with access of SDR 185.031 million equivalent to 115.5 percent of the country’s quota alongside an immediate disbursement of SDR 26.433 million, approximately US$35.7 million. The facility is designed to help Rwanda adapt to tighter global financing conditions while sustaining growth, protecting priority social and development spending, and rebuilding policy buffers. Rwanda’s economy has maintained a strong performance, with growth reaching 9.4 percent in 2025 well above initial projections. However, inflation has emerged as a growing concern, surpassing the central bank’s target range and climbing to 13.2 percent year-on-year in April 2026. On the external front, the country’s position improved last year, supported by strong exports of coffee and minerals, though imports remained elevated driven largely by equipment and materials needed for local businesses. Foreign exchange reserves held steady, covering just over four months of imports. Despite the strong outturn, Rwanda’s near-term economic outlook is clouded by the ongoing conflict in the Middle East. Growth is expected to moderate to below 6.8 percent in 2026, with higher international oil and fertilizer prices driven by the war hence adding to fiscal, inflationary, and current account pressures. The ECF-supported program by the IMF will be anchored around three key pillars which is strengthening a coherent macroeconomic policy mix, managing fiscal and debt risks to sustain growth, and promoting private-sector-led growth with transparent fiscal oversight of state-owned enterprises. Speaking after the Executive Board’s discussion, IMF Deputy Managing Director and Acting Chair, Mr. Bo Li, stressed the need for a credible medium-term consolidation path, anchored around stronger revenue mobilization, improved public investment management, and enhanced monitoring of capital spending. “A credible medium-term fiscal consolidation path will be pivotal to reducing external imbalances and safeguarding Rwanda’s moderate risk of debt distress, while safeguarding social objectives,” he said. He also called for tighter monetary policy to rein in inflation, noting that rapid credit growth and concentrated exposures warranted close monitoring, even as the financial sector remained stable. “An appropriately tight and forward-looking monetary policy will help address elevated inflationary pressures. Strengthening policy communication and reinforcing the credibility of the inflation target will be essential to better anchor inflation expectations,” Mr. Li added. On structural reforms, he urged Rwanda to push ahead with improving public investment efficiency, strengthening institutional frameworks, and accelerating state-owned enterprise reforms to contain fiscal risks and foster a more dynamic economic environment. “The ECF-supported program, underpinned by the authorities’ strong policy commitment and continued engagement with development partners, provides an appropriate policy anchor to support orderly adjustment, sustain reform momentum, and catalyze more financing,” he concluded.

News

SEC Sets Sights on First Virtual Asset Licences Before Year-End

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The Deputy Director General, Operations at the Securities and Exchange Commission Ghana, Mr. Mensah Thompson has outlined the operational framework that will govern the licensing and regulation of virtual asset service providers in Ghana, revealing that the Commission expects to issue its first licences before the close of the year. Speaking with Business Outlook Africa on the back of the passage of the Virtual Assets Bill and the introduction of a regulatory sandbox, Mr. Mensah Thompson revealed that with the regulatory groundwork firmly in place, the Commission is now hopeful that it will issue the first virtual asset licences before the close of the year. “We should issue our first virtual asset licences before the end of the year,” Mr. Mensah Thompson confirmed. Mr. Mensah Thompson further confirmed that a key pillar of the new framework is a mandatory local partnership requirement for foreign companies seeking to operate in Ghana’s virtual assets space. Under the rules, any foreign firm applying for a Virtual Asset Service Provider licence must have a Ghanaian partner holding at least 30% equity in the business. “For foreign companies to have a licence as a virtual asset service provider in Ghana, you must have a local partner who is a Ghanaian, who owns 30% of the business. That’s a requirement we’ve put for all,” Mr. Mensah Thompson explained. He explained that the purpose behind the requirement is not only to ensure the mere participation of Ghanaians but also to ensure they build lasting capacity over time to take over the industry . “This 30% is to achieve two things. One, to ensure that Ghanaians are able to participate in these businesses as equity partners to those big giants coming in. And two, to ensure that these Ghanaians build capacity so that with time, they can also now stand on their own and set up some of these entities,” he added. Beyond ownership, the Deputy Director General added that the Commission is also working on a tiered licensing framework designed to accommodate operators of varying sizes and capacities. Mr. Mensah Thompson revealed that the structure, spanning Tier One, Tier Two, and Tier Three, will come with differentiated capital requirements to reflect the scale of each category. “When we begin the licensing, we are thinking of also tiering the licence — Tier One, Tier Two, Tier Three — with different requirements, especially in terms of minimum capital requirement,” he said. On the question of minimum capital requirement, Mr. Mensah Thompson stated that the bar will be set high, given the volumes of money involved in virtual asset transactions adding that the minimum capital expected of a local company is a million dollars. “The minimum capital requirement is huge for virtual assets, because you are going to be dealing with a lot of money. For a local company, at least a million dollars,” he disclosed. The Virtual Asset Service Providers Act, 2025 (Act 1154) was passed into law by Parliament on December 19, 2025, and subsequently received presidential assent on December 30, 2025. The landmark legislation establishes a comprehensive legal and regulatory framework to supervise, license, and register cryptocurrency and virtual asset operations in the country.