Petrol and diesel prices are expected to fall marginally at the pumps from Friday, October 16, 2026, while liquefied petroleum gas (LPG) could see an 18.5% increase per kilogram.
This is according to the Chamber of Oil Marketing Companies’ pricing outlook for the next pricing window.
Commissioner-General of the Ghana Revenue Authority (GRA), Anthony Kwasi Sarpong, has clarified that the new digital VAT collection system does not introduce a new tax, but is rather aimed at bringing more foreign digital service providers into the tax net.
Speaking on Joy FM’s Super Morning Show, following the announcement, Anthony Sarpong explained that about 92 foreign companies already remit VAT to the GRA, and pricing for their customers will not change under the new system. However, he noted that the Authority has identified about 100 additional foreign digital service providers that are not currently charging VAT, and the new system is designed to bring them into compliance.
The Ghana Revenue Authority (GRA) has directed banks to charge 20% VAT on qualifying cross-border digital services from October 15, 2026, increasing the cost of subscriptions to platforms such as Netflix, Spotify, and ChatGPT where the applicable taxes are not already included.
The directive requires banks to collect and remit applicable taxes on qualifying digital transactions made with Ghana-issued bank cards.
The International Monetary Fund (IMF) has raised its forecast for Ghana’s economic growth in 2026 to 5.7 per cent, up from the 4.6 per cent projected in April.
The revised figures were released in the Fund’s October 2026 World Economic Outlook, published during the IMF/World Bank Annual Meetings in Bangkok, Thailand.
The 2026 Nobel Prize in Economic Sciences has been awarded to American economists Robert E. Hall and Michael Woodford, for their research on the microeconomic foundations of macroeconomic stabilisation.
The Chief Executive Officer of the Chamber of Oil Marketing Companies (COMAC), Dr. Riverson Oppong, has raised concerns over global fuel supply security amid disruptions to key oil routes. Speaking on the issue, Dr. Riverson Oppong explained that supply disruptions around the Iranian zone and the Strait, coupled with surging demand and constrained supply, are driving fuel price increases and causing shortages, even in countries with the financial capacity to purchase petroleum products. He said disruptions to crude oil transportation routes, including those passing through Oman, have further compounded supply challenges following recent attacks in the region. “To now transport the crude oil from the other side facing the Strait or the Iranian zone towards the Black Sea. What was happening also was the fact that Oman also became a transit point, but with the bombing that has happened now in Saudi, that has really brought a very huge disruption on supply challenges.” Dr. Riverson Oppong added that the disruption has also affected evacuation plans through Oman, further widening the gap between global fuel demand and available supply. “That means that even the evacuation plan that was passing three way to Oman has also been boycotted today and that is why indeed demand is absurd against the supply, hence the price that we see.” He warned that continued disruptions along major oil routes could put further pressure on global petroleum supplies and prices.
The Head of the Statistics Office at the Currency Management Department of the Bank of Ghana, Dinah Bonzi, has warned the public against the use of Ghana cedi banknotes to make and sell money bouquets, reiterating that the act constitutes an offence punishable by law.
The Bank of Ghana, in a public notice issued on July 14, 2026, barred the use of currency notes and coins as decorations including money bouquets, jewellery, and other artistic creations,citing the Currency Act, 1964 (Act 242).
The Social Security and National Insurance Trust (SSNIT) has explained its decision to remove unauthorised occupants and activities from the beachfront areas adjoining the Labadi Beach Hotel and La Palm Royal Beach Hotel in Accra.
SSNIT said it sought the urgent intervention of the National Security Council Secretariat to address what it described as persistent unlawful occupation, encroachment and unauthorised activities along the beachfront directly adjoining and in front of the two hotels.
The Chairman of Parliament’s Food, Agriculture and Cocoa Affairs Committee, Dr. Godfred Seidu Jasaw, has commended the National Food Buffer Stock Company (NAFCO) for its financial turnaround, moving from a GH¢20 million debt position to over GH¢96 million in profit in the 2025 financial year.
Speaking during a working visit to NAFCO’s regional office in Kumasi, Dr. Jasaw praised the company’s efforts to strengthen its operations and provide logistics for its regional offices.
MTN Ghana has announced that it has been awarded spectrum in the 700 MHz and 3 GHz bands for the provision of 5G and mobile broadband services.
In a statement released today, MTN Ghana explained that the award, granted by the National Communications Authority (NCA), follows an earlier application for spectrum licences in the 700 MHz, 2.3 GHz, and 3 GHz mid-band frequencies for 5G and mobile broadband services.
