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Real Estate

NUGS Formally Petitions Rent Control Department on ‘Exploitative’Hostel Pricing at Tertiary Level

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The National Union of Ghana Students (NUGS) has petitioned the Rent Control Department,calling for urgent intervention in what the union describes as a growing crisis of exploitative hostel accommodation pricing across the country’s tertiary institutions. In a statement issued on Friday, April, 23,2026,the Union cited the persistent and unjustified rent increases by private hostel operators and property owners within and around university campuses, highlighting that the increments are mostly imposed without in contrast to the provisions of the Rent Act, 1963 (Act 220). The student union further flagged widespread violations of the law’s provisions on advance rent payments, stating that students are being compelled to pay rent covering periods exceeding six months to one year upfront, a practice which contradicts the Rent Acts. NUGS added that the situation has created financial strain and, in some cases, displacement of students unable to meet the excessive demands which undermines access to education and places undue burden on students who largely depend on limited financial support. The union’s petition outlined six specific demands from the Rent Control Department: 1. Immediate investigation into hostel pricing structures within and around tertiary institutions nationwide. 2. Strict enforcement of the Rent Act, 1963 (Act 220), particularly regarding advance rent payments and lawful procedures for rent increment. 3. Sanctions against property owners and hostel operators found to be in breach of the law. 4. Establishment of clear guidelines for hostel pricing and tenancy arrangements specific to student accommodation. 5. Strengthened monitoring and enforcement mechanisms to ensure sustained compliance. 6. Creation of accessible reporting channels for students to lodge complaints and seek redress without fear of victimisation. NUGS then expressed confidence that decisive action from the Rent Control Department would restore fairness and reinforce respect for the rule of law within the rental housing sector. The Rent Control Department operates under the Ministry of Works and Housing and is mandated to regulate rent matters in Ghana in accordance with the Rent Act, 1963 (Act 220).

Telecommunications

MTN Ghana Names Esi Mimirba Wilson as Chief Human Resource Officer

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MTN Ghana has announced the appointment of Esi Mimirba Wilson as its Chief Human Resource Officer, effective 15 April 2026. In a statement released on April 23rd,2026 the telecommunications giant announced the appointment aligns with its Ambition 2030 strategy and aims its strengthening and improving its human resource. Prior to her appointment, Esi Mimirba Wilson served as the Director, People and Transformation at Consolidated Bank Ghana and brings on board over 23 years of experience across different industries. Esi holds an MBA in Human Resource Management from the University of Ghana and a BA (Hons) in Publishing Studies from Kwame Nkrumah University of Science and Technology. She is also an Associate Member of CIPD, a Certified Change Practitioner, and an Agile HR Certified Practitioner, as well as a Chartered Banker and a Certified Retail Banker. In her new role, Esi will be responsible for leading MTN Ghana’s human capital strategy, talent development, organisational effectiveness and culture transformation agenda, ensuring the company continues to attract, develop and retain the right capabilities to drive sustainable growth and superior customer experience. Commenting on the appointment,the Chief Executive Officer of MTN Ghana, Stephen Blewett, stated that Esi’s expertise makes her the right fit for the job “Esi brings a wealth of experience in leading complex people transformations and building high-performing organisations. Her strong leadership, deep expertise in change management and passion for people development make her well-positioned to lead MTN Ghana’s human resource function as we continue to execute our Ambition 2030 strategy.” Blewett said Esi Mimirba Wilson replaces Amma Benneh-Amponsah who served as Chief Human Resource Officer for MTN for the past 24 years. Under her leadership, MTN GH received multiple awards for its human resources practices, including being inducted into the HR Focus Hall of Fame.  

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.