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Banking & Finance

UBA Ghana Appoints Juliana Asare as Chief Finance Officer

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The United Bank for Africa (UBA) Ghana has appointed Juliana Asare as its Chief Finance Officer (CFO), making her the first woman to hold the position in the bank’s history in Ghana. Asare who previously served as CFO of UBA Sierra Leone, brings over two decades of progressive banking experience spanning Ghana and Sierra Leone to the role with her professional credentials include Fellowship of the Association of Chartered Certified Accountants (FCCA), membership of the Institute of Chartered Accountants of both Ghana and Sierra Leone, and certification as a Treasury Operations professional (ACI). Juliana Asare holds a First-Class Honours degree in Psychology from the University of Ghana and an MBA in Finance from the Ghana Institute of Management and Public Administration (GIMPA). She is also a certified Green and Sustainable Finance professional. Under her watch, UBA Sierra Leone ranked consistently among the top performers within the UBA Group, recording timely audit completions and strong financial discipline. Her influence extends beyond the bank as she also served as President of the Accounting and Finance Standing Committee of the Sierra Leone Association of Commercial Banks (SLACB) and represented the industry on the Bank of Sierra Leone’s Accounting and Realignment Technical Committee, which oversaw the country’s currency redenomination exercise. As CFO of UBA Ghana, she is expected to champion financial excellence and strategic transformation as the bank reinforces its position as a leading pan-African financial institution.

Agriculture

Mass Fish Deaths at Tema Shipyard: What We Know So Far

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A sudden mass fish mortality incident at the Tema Shipyard has triggered an urgent multi-agency investigation, raising concerns about environmental safety and food security in one of Ghana’s key coastal hubs. The incident, first detected in the early hours of April 6 between 5:00 a.m. and 6:00 a.m., saw dead fish concentrated within a 50-metre radius of the main unloading ramp. In response, the Food and Drugs Authority (FDA), Fisheries Commission, Tema Metropolitan Assembly (TMA), and the Criminal Investigations Department (CID) of the Ghana Police Service immediately secured the site and launched coordinated investigations. What Is Being Investigated? Authorities say there is currently no evidence of deliberate sabotage or a widespread public health emergency. However, caution remains high. Between 60 and 80 fish samples, along with water samples, have been collected under strict chain-of-custody procedures and sent for priority laboratory testing. The goal is to determine whether the cause is environmental contamination, chemical discharge, oxygen depletion, or another marine disturbance. Such incidents can occur due to sudden changes in water quality — including pollution, algal blooms, industrial discharge, or temperature fluctuations — but officials stress that conclusions will only be drawn after scientific analysis. What Does This Mean for the Public? As a precaution, authorities have advised the public not to harvest, buy, or consume fish or seafood from the Tema Shipyard and surrounding areas until an official “All-Clear” is issued. Importantly, fish from certified cold-chain markets outside the affected zone remain safe when properly cooked to at least 63°C. Consumers are also being urged to report any sightings of dead or distressed fish, and anyone experiencing symptoms such as nausea, vomiting, diarrhoea, dizziness, or skin irritation after consuming fish from the area should seek medical attention immediately. Why This Matters Tema is a critical node in Ghana’s fisheries and maritime economy. Any disruption, even temporary has implications for fishermen, traders, exporters, and food supply chains. While authorities emphasize there is no confirmed public health crisis, the situation underscores the importance of environmental monitoring and rapid response mechanisms in coastal industrial zones. Further updates are expected as laboratory results become available. Until then, officials are urging the public to rely solely on verified information from the relevant agencies.

Transportation

Ghana Foreign Affairs Ministry Alerts Travellers as EU Rolls Out New Entry Control System

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Ghana’s Ministry of Foreign Affairs has urged Ghanaian travellers to the European Union and Schengen Area to take note of a new automated border control system now being rolled out across European borders. In a public statement issued on Wednesday, April 9, 2026, the Ministry announced the gradual implementation of the Entry/Exit System (EES), established under Regulation (EC) No. 2017/2226 of the European Parliament and the Council of the European Union. The EES, which began its rollout on October 12, 2025, is designed to replace the traditional manual passport stamping process at Schengen borders, with full implementation expected by tomorrow April 10, 2026. The statement explained that the system automatically records the entry and exit data of non-EU nationals including Ghanaians travelling on short-stay visas each time they cross the external borders of Schengen Member States with data collected under the system including facial images, fingerprints, travel document details, as well as information on entry, exit dates and any refusal of entry. The Ministry noted however that the system does not apply to all travellers as Non-EU nationals holding residence cards or permits, holders of long-stay visas, accredited diplomats, heads of state, cross-border workers, NATO military personnel travelling on official business and holders of local border traffic permits are among those exempted from EES registration. The Ministry then urged Ghanaian nationals travelling to the EU and Schengen Area to familiarise themselves with the new system ahead of their travel with further details accessible at https://travel-europe.europa.eu/ees.

Economy

Cabinet Suspends Fuel Taxes, Orders Transport Fare Relief After Emergency Meeting

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Ghana’s Cabinet has directed the Ministers of Finance and Energy to ensure a reduction in fuel prices at the next pricing window by suspending selected taxes and margins. Speaking during a press briefing following an emergency cabinet meeting on fuel prices this evening, Government’s Spokesperson Felix Ofosu Kwakye added this directive is expected to remain in place for four weeks, after which it will be reviewed based on developments in the Middle East conflict and trends in global crude oil prices. The Minister for Government Communications also added that the President has tasked the Minister in Charge of Transport to fast-track the deployment of 100 newly acquired Metro Mass Transit buses to high-traffic routes across the country in order to ease commuting pressures and provide more affordable travel options. He highlighted that cabinet directed that fares on these buses be kept below those charged by private transport operators. In addition cabinet also reiterated its directive requiring all ministers and senior government officials to comply strictly with President John Mahama’s earlier decision to cancel fuel allocations and allowances for political appointees. Further details regarding the suspended taxes and margins according to the minister is expected to be announced at the next fuel pricing window. The Emergency cabinet meeting on fuel prices took place on April 9,2026 and aimed at addressing growing concerns about fuel prices amid Middle East tensions

News

Heath Goldfields Signs Offtake Agreement and Debt Financing with Trafigura for Bogoso Prestea Mine

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Heath Goldfields LTD, has announced the signing of a landmark gold offtake agreement with Trafigura Pte Ltd which will see to the Trafigura purchasing 700,000 ounces gold doré from the Bogoso-Prestea operation. In a statement released on Thursday, April 9,2026 Heath Goldfields LTD stated that the the agreement not only represents one of the most significant gold offtake commitments in West Africa in recent years but also marks a major milestone in the Bogoso-Prestea revival programme. Heath Goldfields LTD added that the signing of agreement will also see to Trafigura providing US$65 million in debt financing to support the restart of the mine’s oxide ore operations. The transaction which was structured and arranged by Verdant IMAP, acting as exclusive financial advisor, with Sullivan & Worcester UK LLP in London and JLD & MB Legal Consultancy in Accra as legal advisors to Heath Goldfields will also provide for the for the purchase of gold doré produced at the Bogoso-Prestea processing facility with deliveries expected to commence in line with Heath Goldfields’ production schedule. Speaking to this, the Managing Director, Heath Goldfields LTD, Patrick Appiah Mensah, highlighted that the strategy secures long-term growth, stable jobs, and community benefits, while showing confidence in Ghana’s mining sector and local operators.   “”This agreement with Trafigura is a defining moment for Heath Goldfields and for the Bogoso-Prestea Mine. To have one of the world’s foremost commodity trading houses commit to such a significant offtake is a powerful endorsement of our operational strategy, our resource base, and the long-term future of this historic operation. It further provides the revenue certainty we need to accelerate investment, create sustainable employment, and deliver lasting value to our host communities. This is not just a commercial milestone, it is a statement of confidence in Ghana’s mining sector and in the ability of an indigenous operator to deliver at scale.” He stated Also the Head of Metals and Minerals at Trafigura Group, Gonzalo De Olazaval, expressed confidence in the partnership, highlighting its expansion into Ghana’s gold sector and continued commitment to Africa’s metals market. “We are pleased to sign this offtake agreement with Heath Goldfields. This is Trafigura’s second gold transaction on the African continent and our first in Ghana’s gold sector- a market where we have long-standing commercial relationships across other commodities. Trafigura has been active across metals and minerals markets in Africa for over two decades, and the continent remains a cornerstone as we continue to expand our precious metals business. Bogoso-Prestea is a producing asset with a strong operational team and LMA compliance, and we look forward to applying our physical trading expertise and market access in support of a Ghanaian-owned operation of this quality.“he said The agreement becomes Trafigura Pte Ltd, a market leader in the global commodities industry,second ever gold transaction on the African continent and first ever in the Ghanaian gold sector.

World

IMF, World Bank, WFP Warn of Global Food and Energy Crisis Amid Middle East War

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The heads of the International Monetary Fund (IMF), World Bank Group (WBG), and World Food Programme (WFP) have issued a joint warning over the sweeping economic and food security consequences of the ongoing war in the Middle East, cautioning that its effects are already widespread far beyond the region. In a joint statement issued on Wednesday April 8,2026, the three institutions described the conflict as having triggered “one of the largest disruptions to global energy markets in modern history,” with sharp increases in oil, gas, and fertiliser prices compounded by transport bottlenecks expected to drive food prices higher and deepen food insecurity worldwide singling out low-income, import-dependent economies as bearing the heaviest burden of the crisis. The IMF, WBG, and WFP however assured that the three institutions would continue to monitor the situation closely and coordinate the deployment of all available tools to support those affected. They also pledged to protect lives and livelihoods while laying the groundwork for a resilient recovery anchored in stability, growth, and job creation.​​​​​​​​​​​​​​​​

Energy

GNPC’s Explorco Owes Ghana Over US$561 Million in Unaccounted Petroleum Revenue — PIAC

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The Public Interest and Accountability Committee (PIAC) has raised fresh alarm over the failure of Explorco, a subsidiary of the Ghana National Petroleum Corporation (GNPC), to account for petroleum revenues owed to the Republic of Ghana. In its 2025 Annual Report released on 8th April 2026, PIAC revealed that Explorco has failed to account for petroleum revenue amounting to US$561,648,785.37 due the government between 2022 and 2024 ,despite numerous calls by the Committee for the funds to be deposited into the Petroleum Holding Fund (PHF). PIAC’s Chair, Richard Ellimah, signed off on the report which formally recommends that “GNPC and its subsidiary, Explorco, should account for petroleum revenue amounting to US$561,648,785.37 due government and deposit same into the PHF.” The persistence of the issue across multiple reporting cycles points to a pattern of non-compliance that PIAC says can no longer be overlooked.

News

Ghana’s Former Finance Minister Ken Ofori-Atta Released from ICE Detention

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Ghana’s Former Finance Minister Ken Ofori-Atta has been released from detention by the United States Immigration and Customs Enforcement (ICE), his lawyer has confirmed. According to a statement issued on his behalf, Mr. Ofori-Atta was released on Monday, 7th April 2026, pursuant to a judicial order, and has since returned home to be with his family. The statement indicated that the former minister intends to pursue all available legal avenues in defence of his rights. “Mr. Ofori-Atta remains fully committed to use due process in defence of his rights as guaranteed under the constitution and laws of the United States,” the statement noted. The family also used the statement to express gratitude to all those who stood by them during the period of his detention. “He and his family remain thankful to God and all those who have offered prayers and support during this period,” it added. Mr. Ofori-Atta served as Ghana’s Minister of Finance from 2017 to 2023 under the Akufo-Addo administration and was a central figure in Ghana’s economic management, including the country’s engagements with the International Monetary Fund during the debt crisis period. The circumstances surrounding his initial detention by ICE were not detailed in the statement.​​​​​​​​​​​​​​​​  

News

NIA Debunks Claims Ghana Card Can Be Used for Financial Transactions

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The National Identification Authority (NIA) has dismissed as inaccurate and misleading recent media reports and circulating information suggesting that the Ghana Card can now be used to conduct financial transactions. In a press statement issued on Wednesday, 8th April 2026, the Authority stated unequivocally that the Ghana Card has not been activated for financial transaction purposes. “Members of the public are advised to disregard any such claims and are encouraged to rely only on official communications from the National Identification Authority,” the statement read. The NIA, however, acknowledged that high-level discussions are underway involving policymakers and key institutions within the financial and regulatory sectors on the potential future integration of the Ghana Card into financial transaction systems. According to the Authority, the deliberations form part of broader efforts to enhance digital identity usage and promote financial inclusion in Ghana. The NIA was, however, quick to stress that the discussions remain inconclusive as of the time of the release. The Authority assured the public that any official decision, policy direction, or rollout concerning the use of the Ghana Card for financial transactions will be formally communicated through appropriate and verified channels. The NIA reiterated its commitment to safeguarding the integrity, security, and proper use of the National Identification System.  

Energy

Ghana’s Oil Output Hits Six-Year Low as Petroleum Receipts Plunge by 43%

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Ghana’s crude oil production has declined for the sixth consecutive year, with the Public Interest and Accountability Committee (PIAC) confirming a sharp drop in both output and petroleum revenues in its 2025 Annual Report. According to the report, published on 8th April 2026, crude oil production fell from a high of 71.44 million barrels in 2019 to 37.3 million barrels in 2025 representing a compounded annual average decline of nine percent. The report also revealed that total petroleum receipts for 2025 amounted to US$770,274,933.75, a 43.27 percent decrease compared to the US$1,357,793,869.40 recorded in 2024 with PIAC attributing the decline largely to reduced production and lower realised prices across the producing fields. Corporate Income Tax remained one of the highest revenue streams, contributing US$346,847,999.77 to the Petroleum Holding Fund (PHF) in 2025 with ENI Ghana, Vitol Upstream, and Tullow Ghana being cited among the major contributors. PIAC’s findings confirm what analysts have long warned that Ghana’s oil fields have peaked and are on a downward spiral. In response, PIAC is urging the government, through the Petroleum Commission, to develop a framework to improve investment in existing producing fields, particularly the TEN field, where production has underperformed initial projections. The Committee also called for improvements to the existing regulatory and fiscal frameworks and data acquisition in new basins.