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Banking & Finance

Zen Petroleum Holdings PLC Lists on Ghana Stock Exchange, Raises GHS 640 Million

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Indigenous oil marketing company Zen Petroleum Holdings PLC has been officially listed on the Ghana Stock Exchange (GSE), marking a significant milestone in the company’s push to deepen its presence within Ghana’s capital markets. The listing ceremony, held on Wednesday, April 22, 2026, at Cedi House in Accra, brought together investors, regulators, and key stakeholders in the Ghanaian capital market. Speaking at the ceremony, Founder and Chief Executive Officer of Zen Petroleum, William Tawiah, described the listing as a commitment to sustainable growth and institutional longevity. “To strengthen our position across the downstream petroleum value chain. To continue investing in infrastructure that improves efficiency and reliability. To expand opportunities for Ghanaian participation in the energy sector. And to build a business that is not only profitable but impactful.” Mr. Tawiah stated. Also addressing the gathering, Sir Sam Jonah urged the Ghana Stock Exchange to fulfil its responsibility to companies that choose to list on the bourse, stressing that the exchange must take that obligation seriously. “When a young, dynamic company like Zen chooses to invest in our stock exchange, it is making a bet — not just of its own future, but of the infrastructure and the ecosystem that the estate provides. The exchange must continue to provide the support, the services, and the regulatory environment and the market development that new companies need to thrive,” he said. Sir Sam Jonah further called on the GSE to broaden its investor education initiatives, noting that many Ghanaians still lack basic understanding of the importance of the stock market. Zen Petroleum disclosed that it successfully raised GHS 640 million, representing 20 percent of its issued share capital through the listing. The company’s Initial Public Offering (IPO) was oversubscribed by 94 percent, attracting bids valued at GHS 970,244,645, with institutional investors accounting for 99.3 percent of the total subscription figure.

Energy

Zen Petroleum Eyes Market Leadership in 5 Years-Board Chairman

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The Board Chairman of Zen Petroleum,Mr Frank Adu has signaled ambitious growth plans following the company’s listing on the stock exchange, vowing to challenge established players in Ghana’s downstream petroleum sector. Speaking after the listing which took place on Wednesday April 22,2026,Mr Adu stated that the company could close the gap on its four larger competitors in the industry in less than five years. He added that the company intends to grow its network of fuel stations significantly, describing the capital raised through the listing as the financial engine behind an accelerated rollout. “We will overtake them. I think that is a process. You know, we started off basically in being a box of masterminds.Downstream, now we are building a network of these stations. Part of the reason we raised all this money is that we roll out a lot more than we did. So, you give us some time.We will get there. 5 years, 4 years, 10 years? Probably less. Less.5 years or less. Probably less.” Mr Adu stated The chairman also distanced Zen Petroleum from industry concerns around product adulteration and regulatory compliance, pointing to the company’s partnership with Spanish energy giant Repsol as a guarantee of quality standards. “But I believe that most of the companies in the Downstream sector are responsible companies. You have the odd single station operator, etc. Who will bring in the bad products or something like that. But Zen Petroleum will not do something like that. You know, we have standards.We have international partners. You saw here, for instance, the Repsol. That’s an international company.We cannot do anything that would damage our image in our station. Because of that international relationship. So, yes, there will be problems. But we are not going to be one of those.”he added A self-described advocate of using capital markets to grow businesses having previously led the Ghana Stock Exchange, Mr Frank Adu framed the listing not as a one-off fundraising exercise but as part of a broader philosophy of building Zen Petroleum into a credible,institutional-grade downstream player.

Technology

NCA Deputy DG Calls for Ghana-Zambia Digital Collaboration, Welcomes Zambian Tech Firms

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  The Deputy Director-General of the National Communications Authority (NCA), Mr. Suleman Salifu, has called for deeper collaboration between Ghana and Zambia’s technology ecosystems, saying the NCA is ready to support partnerships that drive innovation, create jobs, and deliver shared value for both nations. Mr. Salifu made the call during a high-level two-day bilateral meeting between the two countries’ communication and technology sector stakeholders, held at the NCA Tower in Accra. The meeting which took place earlier today,builds on diplomatic groundwork laid during President John Dramani Mahama’s recent state visit to Zambia, during which both countries committed to strengthening ties in trade, investment, and digital cooperation under the African Continental Free Trade Area (AfCFTA). The Zambian delegation, led by Minister of Technology and Science, Felix Mutati, and comprising of some technology companies and innovators is in Ghana to explore business opportunities and build partnerships across key areas including fintech, cybersecurity, digital infrastructure, and innovation-driven enterprise development.   Delivering a presentation on the NCA’s mandate and regulatory framework, Mr. Salifu stressed that cross-border collaboration is key to accelerating digital transformation across Africa, and that such partnerships would facilitate knowledge exchange, support market expansion, and drive innovative solutions to shared continental challenges. “The NCA welcomes Zambian technology businesses to explore and take advantage of Ghana’s enabling regulatory environment and growing digital market,” Mr. Salifu said, assuring the delegation of the Authority’s full support. The Ghana-Zambia tech engagement marks a concrete step toward turning bilateral goodwill into tangible digital partnerships,one that both sides say will create jobs, expand markets, and deliver lasting value across borders.

Banking & Finance

GCB Bank Declares GHS1.00 Final Dividend for 2025 Financial Year

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  GCB Bank PLC has announced a final dividend of GHS1.00 per share for the 2025 financial year, the Ghana Stock Exchange (GSE) has disclosed. In a statement released on April 20, 2026, the commercial bank stated that all shareholders who are registered in its books at the close of business on Thursday, April 30, 2026, will qualify to receive the final dividend. The bank added that it will then proceed to close its Register of Shareholders will from Monday, May 4 to Tuesday, May 5, 2026, both dates inclusive, to help facilitate the dividend processing. The ex-dividend date has also been set as Tuesday, April 28, 2026. This means investors who purchase GCB shares before that date will be entitled to the dividend, while those who buy on or after April 28 will not qualify. The final dividend of GHS1.00 per share is scheduled for payment on Tuesday, June 30, 2026. This comes after the bank recorded historic figures including a net profit of GHS 2.04 billion, gross profit of GHS 3.2 billion and a healthy operating income of GHS 6 billion in the 2024 financial year.

Trade

Importers Association backs publican Al rollout for fairer port system

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The Executive Secretary of the Importers and Exporters Association of Ghana, Samson Asaki, has expressed strong support for the rollout of Publican Al, describing it as a step toward promoting fairness and transparency within the country’s customs system. His comments follow the Association’s endorsement of the policy being introduced by the Ghana Revenue Authority to regulate import and export activities, despite concerns raised by the Ghana Union of Traders Association (GUTA) and some importers who have opposed the initiative. Publican Al is a digital system designed to support customs operations using artificial intelligence. It assesses the value of goods, calculates duties, and detects inconsistencies in declarations. The system aims to reduce human discretion in the valuation process, minimize arbitrary charges, and ensure a more predictable and standardized duty regime at the ports. Speaking on Public Sphere on Radio Univers, Mr. Asaki reiterated that the introduction of the system would help create a more consistent and transparent framework for importers and exporters. “This system will bring parity, fairness, and transparency.We are in support because back in January 2025, the port had 13 cedis with excessive duty, and the dollar was 14 cedis. Then after their first budget in March 2025 got approved in May and they started implementing, the port came down to 10.2 for a long time, and the dollar also came down to 10.2,” he explained. Mr. Asaki further raised concerns about arbitrary increases in duties at the ports and inconsistencies in charges, particularly affecting new and small-scale importers. He called on government to address these challenges while urging the Ghana Union of Traders Association to focus on constructive engagement on the issue. “I’m worried about arbitrary duty hikes at the port. Let’s check the percentage difference and talk to the government. For small credit card businesses with tiny capital, make an exception and target the multinationals that are robbing the country instead. That’s a good call, but my colleagues from GUTA aren’t making that argument,” he added. The debate over the implementation of Publican Al continues, as stakeholders weigh its potential to reform Ghana’s port system against concerns about its impact on businesses. SOURCE: univers.ug.edu  

Telecommunications

MTN GH Sweeps 3 Ookla Speedtest Awards, Records Connectivity Score Of 67.16

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MTN Ghana has been awarded the fastest mobile network in Ghana and the best fixed network in both Ghana and Western Africa, clinching three Ookla Speedtest Awards at the just ended Mobile World Congress 2026 in Barcelona. The telecommunication giant in Ghana was recognized as the Fastest Mobile Network in Ghana, Best Fixed Network in Ghana, and Best Fixed Network in Western Africa with a Speedtest Connectivity Score of 67.16. Commenting on the recognition, MTN Ghana Chief Executive Officer Stephen Blewett stated the awards reflect the company’s sustained investment drive to improve customer experience. “These recognitions from Ookla reflect the significant investments we continue to make in our network to deliver faster, more reliable connectivity for our customers. At MTN Ghana, we believe that a strong, dependable network is fundamental to expanding digital access, driving economic growth and supporting Africa’s progress,” Blewett said. The CEO also added that the company is ramping up network site deployments to improve quality of service for customers. The Speedtest Awards is an award scheme among the telecommunications industry that honors credible performance, evaluates operators on speed, coverage, consistency, and assess overall user experience entirely through real customer testing.​​​​​​​​​​​​​​​​

Banking & Finance

GSE Composite Index Climbs 2.61% to 14,024 as Equity Volumes More Than Double

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GSE Composite Index Surges 2.61% as Equities Rally;
Fixed Income Volumes Contract Sharply The Ghana Stock Exchange recorded broad-based gains on Thursday, with its benchmark indices extending a multi-session recovery. Fixed income activity, however, declined significantly from prior-day levels. The equities market closed higher as the GSE Composite Index (GSE-CI) gained 357.20 points to settle at 14,024.22 — a daily advance of 2.61 percent from the previous session’s close of 13,667.02. On a year-to-date basis, the index has now gained 59.91 percent, reflecting sustained investor appetite for Ghanaian equities amid an improving macroeconomic backdrop. The GSE Financial Stock Index (GSE-FSI), which tracks the performance of listed financial sector firms, also moved higher, adding 241.84 points to close at 8,314.05, a gain of 2.99 percent. The FSI’s year-to-date return now stands at 78.91 percent, outpacing the broader composite index and signalling continued confidence in financial sector stocks following recent monetary policy easing by the Bank of Ghana. Trading activity surged markedly, with total volume traded reaching 3,215,320 shares ,a jump of 123.07 percent compared to Wednesday’s 1,441,383. Value traded correspondingly spiked to GH₵15.83 million from GH₵7.11 million, representing a 122.61 percent day-on-day increase. The uptick in volumes suggests a broad re-engagement from market participants, likely encouraged by positive index momentum. Activity in the fixed income secondary market contracted sharply on Thursday. Total volume across all instruments fell 24.86 percent from GH₵800.63 million on Wednesday to GH₵601.58 million, as trading in most government securities declined. Treasury Bills accounted for GH₵449.84 million of total fixed income turnover representing a 30.39 percent decline from Wednesday’s GH₵646.20 million. The Domestic Debt Exchange Programme (DDEP) Bonds also bucked the downward trend, with volumes rising 50.17 percent to GH₵144.33 million from GH₵96.12 million in the prior session. New Government of Ghana (GOG) Notes and Bonds saw the steepest contraction, plunging 97.32 percent from GH₵46.46 million to just GH₵1.25 million. Corporate bond activity also fell sharply by 57.93 percent to GH₵4.80 million. Legacy GOG Notes and Bonds, however, recorded a 211.79 percent surge to GH₵1.36 million from GH₵437,343 the prior day.

Banking & Finance

Zen Petroleum Completes IPO,Raises GHS 640,000,000 from Investors

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Zen Petroleum Holdings PLC has announced a successful completion of its Initial Public Offering (IPO) ahead of the company’s upcoming listing on the Ghana Stock Exchange on Wednesday,April 22,2026. In a statement released today,April 20,2026,the indigenous Oil Marketing Company declared that it was able to raise GHS 640,000,000 representing 20% of its issued share capital following the closure of its offer window on March 31,2026. The OMC also added that the company saw an over subscription of its bids valued at GHS 970,244,645 by 94% with institutional investors accounting for 99.3% of this figure. Commenting on the upcoming listing, management of ZEN Petroleum stated: “Our upcoming listing is a defining moment for ZEN Petroleum and a testament to the trust our investors have placed in us. From our beginnings in 2010, we have built the business with a clear focus on quality, discipline and long-term value creation. As a publicly listed company, we are committed to upholding the highest standards of governance and delivering sustainable value for our shareholders while contributing meaningfully to Ghana’s energy sector and capital markets.” According to the company, the listing will not only provide ZEN Petroleum with enhanced access to long-term capital but also further strengthen its governance framework, and increase its visibility within Ghana’s capital markets. The listing marks a defining chapter in ZEN Petroleum’s journey from its establishment in 2010 as a wholly indigenous Ghanaian enterprise to one of the leading players in Ghana’s downstream petroleum sector.Over its fifteen-year history, the company has built a fully integrated business spanning trading, storage, distribution, retail, logistics, and bunkering operations. It currently employs approximately 1,500 people as at 2025 and serves customers across Ghana’s mining, commercial and retail sectors. The Company is also set to become the third Oil and Marketing Company to be listed on the Stock Market after GOIL PLC and TotalEnergies Marketing Ghana PLC.

Banking & Finance

Bank of Ghana Clarifies Treatment of Earnings for Content Creators

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  The Bank of Ghana (BoG) has moved to address growing concerns among Ghanaian digital creators over the difficulties they face in accessing their earnings from online social media platforms,particularly X clarifying that such payments are legally permissible under the country’s foreign exchange regulations. In a statement issued on Monday,April 20,2026, the BoG prompted that that although it currently doesn’t know the direct cause of the delay ,it is actively engaging with the relevant stakeholders to identify the cause and ensure a prompt response to the issue. “The Bank appreciates the feedback received from affected persons. BoG is actively reviewing the matter and engaging with relevant institutions to identify the source of the issues and ensure prompt resolution,” the statement read. The statement follows a wave of complaints from Ghanaian creators,particularly on X who have not being unable to receive or access their earnings for 2 straight cycles which has fuelled speculation on social media attributing the delay to the BOG. According to the Bank , creators should receive their earnings through Foreign Exchange Accounts (FEA) held with licensed banks in Ghana, or directly into Ghana Cedi accounts, provided all transactions are processed in accordance with applicable regulatory requirements-appearing to suggest that the source of the problem may lie with intermediary institutions rather than BoG policy. The Bank of Ghana then went ahead to assure affected stakeholders that it remains committed to maintaining a stable and enabling financial system that supports legitimate cross-border transactions, including digital platform earnings, adding that engagement with affected parties will continue throughout the review process.    

Banking & Finance

Ghanaians to Own Shares in MobileMoney Fintech Ltd as GSE Listing Planned Within 3–5 Years

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The CEO of MobileMoney Fintech LTD,Shaibu Haruna has announced the Fintech Company is expected to list on the Ghanaian Stock Exchange within the next three to five years. Engaging with the media on Monday April 21,2026, the CEO explained that the move aims at giving Ghanaians the opportunity to own shares in new Fintech company and also share in the company’s growth and profitability “Beyond that is also the layer of, you know, we’ve promised our shop that in the next three to five years, we will be able to list the Mobile Money business on the local exchange.” He stated. The CEO also addressed the recent blocking of approximately 9,738 MoMo agent SIM cards, clarifying that the action forms is nothing new and forms part of the company’s routine operations. He noted that the matter had drawn public attention primarily due to the scale of the numbers involved. According to the CEO, the blocking is a deliberate measure aimed at combating customer fraud while also disclosing that he is scheduled to meet with some agent associations later in the day to discuss the situation and work toward an amicable resolution. “We had to take some immediate action and do further investigations, which we’ve done.We are engaging them. In fact, this afternoon we have some engagement with some of the agentassociations.These are things that we do. It’s part of our routine activity. This happened to be a little bit large scale. That’s why, you know, it’s been picked up. But it’s an ongoing activity that we… So there were some suspicious activity that we needed to understand. But for us, the primary focus would be to first stop it and then deal with it, investigate it and deal with the issues.”he added This comes as part of company’s deliberate strategy to deepen public participation in the growing mobile money sector since its structural separation from MTN Ghana establishing it as a standalone entity.