Business Outlook Africa

: :
Facebook-f X-twitter Linkedin-in Youtube Instagram Tiktok
Menu

Author name: Business Outlook Africa

Economy

Ghana’s Economy Grows 7.5% in January 2026 — Services Lead Expansion

/

Ghana’s economy expanded by 7.5% in January 2026, though at a slightly slower pace than the 8.2% recorded in the same period last year, according to the latest Monthly Indicator of Economic Growth (MIEG) released by the Ghana Statistical Service (GSS). The MIEG is a high-frequency economic statistic that provides monthly snapshots of economic growth across Ghana’s three main productive sectors — Agriculture, Industry, and Services. The Services sector emerged as the fastest-growing and largest contributor to overall economic activity, expanding by 9.6% and accounting for 54.3% of total growth. The Industry sector followed with a 7.2% growth rate, contributing 29.0%, while Agriculture recorded 4.5% growth and contributed 14.0% to the overall expansion. Commenting on the figures, Government Statistician Dr. Alhassan Iddrisu said sustained growth would require a deliberate policy focus across all sectors. He called for efforts to strengthen industrial output, improve agricultural productivity, and leverage the momentum in the services sector to sustain economic progress through 2026. The MIEG serves as an early indicator of Ghana’s economic trajectory ahead of the official quarterly GDP estimates.

Banking & Finance

Ghana’s Finance Minister Urges ECOWAS States to Clear US$256m EBID Capital Arrears as Deadline Passes

/

Ghana’s Minister of Finance, Dr. Cassiel Ato Forson, has called on all ECOWAS Member States to honor their outstanding capital subscription obligations to the ECOWAS Bank for Investment and Development (EBID), warning that arrears of approximately US$256 million remain unpaid beyond an agreed December 2025 deadline. Dr. Forson made the appeal during the 24th Ordinary Session of the Board of Governors of EBID, held in Accra, where he disclosed that only four of the bloc’s fifteen member states namely Ghana, Côte d’Ivoire, Guinea, and Togo have fully met their obligations under the third tranche of subscriptions amounting to US$411.4 million. The tranche forms part of a broader agreement to raise EBID’s authorised capital from its previous level to US$3.4 billion. “At that session, it was agreed that EBID’s authorised capital should increase to US$3.4 billion. At that same meeting, a call for the third tranche of subscriptions amounting to US$411.4 million was agreed. The agreed deadline for full payment was December 2025. Yet, to date, only four Member States, namely Ghana, Côte d’Ivoire, Guinea, and Togo, have fully met their obligations. While US$102.5 million was received in 2025, outstanding arrears still stand at approximately US$256 million. In light of the missed December 2025 deadline, I urge all Member States to act with renewed commitment in fulfilling their obligations to the Bank,” he stated. The Finance Minister stressed that timely capital contributions are not only essential to reaching the bank’s target capitalisation but also to sustaining EBID’s capacity to finance large-scale development initiatives across the region. “Timely capital payments are critical. It strengthens EBID’s leverage and sustains its growth and impact across our region. Expanding our capital base is essential to strengthening our ability to finance transformative development projects and stimulate inclusive economic growth in all Member States,” he said. Dr. Forson also expressed gratitude to the bank for Ghana’s privilege of serving as Chair of the Board of Governors over the past year, commending EBID President Dr. George Agyekum Donkor and his team for their stewardship during a period of notable institutional growth. Under his tenure as Chair, EBID recorded a balance sheet expansion from US$1.97 billion in 2024 to US$2.39 billion by end-2025, a 13.3 percent increase in profit from US$8.55 million to US$9.75 million, and an 83 percent surge in commitments.​​​​​​​​​​​​​​​​

Economy

Mahama Nominates Five Members for Fiscal Council

/

President John Mahama has nominated five individuals for appointment as members of the Fiscal Council, with Presidential Spokesperson and Minister for Government Communications, Felix Kwakye Ofosu, releasing the list on Wednesday, April 8, 2026. Leading the nominees is Dr. Emmanuel Oteng Kumah, who is designated to serve as Chairperson of the Council. The remaining four nominees are Prof. Patrick Opoku Asuming, a Professor of Finance at the University of Ghana Business School; Leslie Dwight Mensah, a representative from a research think tank; J.K. Bedu-Addo, a former policy expert from the Ministry of Finance; and Dr. Henry A. Kofi Wampah, a former public policy expert from the Bank of Ghana. The nominations are pursuant to Section 11D of the Public Financial Management Act, 2016 (Act 921), as amended by the Public Financial Management (Amendment) Act, 2025 (Act 1136). Subject to parliamentary approval, the nominees are expected to strengthen financial oversight, promote fiscal prudence, and support sound decision-making in public financial management;forming part of the government’s broader agenda to ensure the judicious use of public funds.

Transportation

Dodowa–Afienya–Dawhenya Road Project 35% Complete

/

The Ministry of Roads and Highways has announced that the reconstruction of the Dodowa–Afienya–Dawhenya Road, along with selected town roads, has reached 35% completion following a recent inspection by the Minister for Roads and Highways, Kwame Agbodza. The project, which commenced on 5th December 2025, according to the Ministry is currently ahead of schedule and is expected to be completed by 4th December 2027. Upon completion, the upgraded road will serve as a vital transport link between key communities including Dodowa, Afienya, and Dawhenya. The corridor is also expected to significantly enhance the movement of goods and services, particularly between Accra and surrounding districts. The Ministry also added that once completed the project is expected to include the following key components: • Construction of a 24.8 km single carriageway asphaltic concrete road with shoulders and walkways • Development of 4 km of dual carriageways at major junctions in Dodowa, Afienya, and Dawhenya • A 40-metre span, 4-lane concrete bridge over the River Detsedor at Afienya • An additional bridge structure at chainage 9+540 (8m x 4m, 30m slab with reinforced walls) • Installation of 8 major box culverts and 28 pipe culverts • Construction of 28.7 km of concrete U-drains of varying sizes With Additional works including: • A 550m storm drainage system (1.6m x 1.3m) • A 40m-long, 8m x 4m concrete-lined outfall channel           Following the inspection,Kwame Agbodza expressed satisfaction with the quality of work and the pace of progress and commended the contractor, Oswal Investment Group, for their commitment and urged them to maintain the current momentum to ensure timely completion for the benefit of residents and road users. The Dodowa–Afienya–Dawhenya Road Project forms part of the Government’s Big Push agenda aimed at improving the country’s road sector.

News

Vaccination Recommended, Not a Requirement —Foreign Affairs Ministry Issues Senegal Travel Advisory

/

Ghana’s Ministry of Foreign Affairs has urged Ghanaians travelling to Senegal to ensure they are medically prepared ahead of their trip, following updated entry health guidelines from Dakar. In a public announcement, the Ministry stated that it had received communication from Senegal’s Ministry of African Integration, Foreign Affairs and Senegalese Abroad indicating that vaccination against yellow fever, DPT, measles, and hepatitis A and B is recommended for all foreign travellers entering the country. The Ministry, however, clarified that the presentation of a vaccination certificate for these diseases is not mandatory for entry into Senegalese territory but just a recommendation lsolely in the interest of the health and safety of travellers. The Ministry of Foreign Affairs then urged all Ghanaian travellers to Senegal to take note of these guidelines and ensure they are adequately prepared ahead of departure. “The Ministry of Foreign Affairs remains committed to safeguarding the welfare of all Ghanaians travelling abroad and encourages compliance with all entry and health requirements of destination countries,” the statement read.​​​​​​​​​​​​​​​​

News

Gov’t Awards Damang Mining Lease to Engineers and Planners Ltd

/

  The Ministry of Lands and Natural Resources has approved the recommendation of its Tender Committee to grant the Damang Mining Lease to Engineers and Planners Ltd (E&P), following a competitive tender process that attracted four bidders. The Ministry in a statement released on Tuesday, April 7,2026 disclosed that the four companies that submitted their bids by the 16:00 GMT deadline on Tuesday, 31st March 2026, were Vortex Resources Mining Group, Engineers and Planners Ltd, Heath Goldfields Ltd, and Maripoma Mining Services Ltd with all tenders being assessed under the guidelines issued by the Minister in accordance with Regulation 258(4) of LI 2176. The statement also stated that per the mandatory requirements spelt out in Phase 1, Annexure C of the Notice, only Engineers and Planners Ltd and Heath Goldfields Ltd met the mandatory requirement with Maripoma Mining Services Ltd and Vortex Resources Mining Group being disqualified for failing to submit the required documents. The mandatory requirements included proof of wholly owned Ghanaian registered company with registration documents indicating current directors, shareholdings and beneficial ownership; valid tax clearance certificate; valid SSNIT clearance certificate; valid VAT clearance certificate; valid certificate of incorporation; and payment of the application fee of GHS100,000.00.   The Ministry also added that from there,pursuant to Regulation 260(7) of LI 2176, the two responsive tenders were submitted to the Tender Committee for technical and financial evaluation with Heath Goldfields Ltd, failing to achieve the minimum qualifying score of 80%. E&P’s however according to the Tender Committee “satisfied all mandatory requirements set out in the Notice and provided documentary evidence of access to financing, meeting the USD 500 million minimum threshold. The tender documentation indicates that the Company possesses experience and knowledge relevant to the operations. infrastructure, and geology of the Damang Mine and submitted proposals for the development of same, including measures intended to extend the life of mine beyond ten (10) years”. The Tender Committee also added that E&P “attained the highest evaluated score” and “demonstrated the highest capability to operate the Damang mine, substantiated by their submission of the most viable tender.” The Ministry  went ahead to commend the Commission, particularly members of the Tender Committee, for their dedication to the assignment, and reiterated Government’s commitment to the Damang Mine’s continued contribution to Ghana’s economy.

Transportation

VIP JEOUN Transport Increases Fare Prices Effective April 8,2026.

/

The Management and VIP JEOUN Transport has announced an increase in fare prices effective, Wednesday, April 8, 2026. In a post made on Facebook, Management explained that this decision is long overdue and should have been taken on March 14,2025 but was suspended after consideration on March 18,2025. The Transport company added that this is going to be the first time in 2 years since the company last revised its prices. Speaking to the media, the General Manager , Adakabri Frimpong Manso stated that although it is yet to convene a meeting with the company’s stakeholders after a meeting with the minister earlier today, the decision to increase prices still stands as at now. “Together with my director, Mr. Kusi, we have met up with the minister. The minister has delivered a message, and we have to go and convene a meeting, an extraordinary meeting of all directors, and then take it from there. But yes, it is true that we have announced price increases, and those price increases are on the board.We will still await what the president has got to tell us. But then, what we have already announced stands. But then, we will communicate to the directors what the transport minister has said.” Adakabri said He added that he is optimistic that what comes out from that meeting will put the company in “…a situation where the company will be strong economically, profitably, and then reinvest into the fleet so that we can serve the teaming, travelling public.” The price increases is expected to affect but Standard Tours and Executive Coaches. Find attached below the new prices announced by the VIP;

Trade

NOPPMAN Suspends Onion Export to Ghana

/

The National Onion Producers, Processors and Marketers Association of Nigeria (NOPPMAN) has announced the suspension of onion exports to Ghana following reports of harassment and the alleged seizure of trucks carrying onions belonging to Nigerian traders in Accra. Speaking to journalists on Sunday, the National President of NOPPMAN, Isa Aliyu, described the decision as necessary due to the growing threats faced by members operating in Ghana. “Our members have endured persistent harassment, intimidation, and unfair treatment in Ghanaian markets. The recent confiscation of our trucks is unacceptable and a clear violation of trade norms,” Aliyu stated. He explained that the association had ordered an immediate halt to all onion shipments along the Ghana route until the safety and rights of Nigerian traders are guaranteed. “We cannot continue to expose our traders to losses and danger. This suspension will remain in place until there is a clear commitment to restoring a safe and lawful trading environment,” he added. The dispute, which has been developing over the past month, reportedly escalated after tensions between Ghanaian and Nigerian traders led to the seizure of trucks transporting onions from Nigeria. Industry sources say the situation has created fear and uncertainty, disrupting normal market activities. One affected Nigerian trader described the situation as alarming. “We have invested heavily in this business. Seeing our goods seized without justification is heartbreaking. Many of us are now stranded and unsure of what comes next,” the trader said. NOPPMAN has called on authorities in both Nigeria and Ghana, as well as regional bodies, to urgently intervene and prevent further escalation. “We urge both governments to investigate these incidents and ensure the protection of Nigerian traders. Dialogue must be facilitated to resolve this dispute quickly,” Aliyu emphasized. The association also highlighted the importance of upholding existing trade agreements under the Economic Community of West African States (ECOWAS), which promote the free movement of goods and fair trade practices across the region. Meanwhile, NOPPMAN dismissed circulating reports claiming that armed men attacked and seized Ghanaian trucks in Nigeria. “There was no attack on any Ghanaian truck. The vehicles seen at the border were there as a result of the ongoing suspension, not due to any security incident,” Aliyu clarified. Nigeria remains one of West Africa’s leading onion producers, supplying large quantities to neighbouring countries, including Ghana. The trade is vital to livelihoods across the agricultural value chain, supporting farmers, transporters, and traders alike.

Agriculture

Here’s What the New Farmer Service Centers Will Offer

/

  Minister of State in charge of Government Communication, Felix Kwakye Ofosu has provided an overview of the Farmer Service Centers promised by President John Mahama. In a post made on X earlier today, the Minister explained that the the service center which is set to be in 50 agricultural Districts to provide agricultural services to farmers will have over 4,000 different agricultural machinery with the following breakdown. 1. 660 tractors 2. ⁠200 tractor trailers 3. ⁠200 mini tractors 4. ⁠200 mini tractor trailers 5. ⁠200 mini tractor tillers 6. ⁠200 mini tractor cultivators 7. ⁠200 mini tractor ploughs 8. ⁠200 mini tractor harrows 9. ⁠200 mini tractor cutter bars 10. ⁠200 mini tractor mowers 11. ⁠460 3-disc ploughs 12. ⁠300 4- disc ploughs 13. ⁠330 16-disc harrows 14. ⁠100 1000kg mineral fertilizer spreaders 15. ⁠100 4-row precision seed drills 16. ⁠100 6-row precision seed drills 17. ⁠100 32-row pneumatic seed drills 18. ⁠300 800L Boom Sprayers 19. ⁠50 combine harvesters 20. ⁠50 Maize Headers for combine harvester 21. ⁠25 Soy Headers for combine harvester. President Mahama has already cut the aid for most of them with most of them expected to be completed soon. Below are pictures of how they are expected to look like:

Transportation

First Batch of 300 Procured Buses Aimed at Reducing Road Transport Challenges Arrives In Ghana

/

Minister of State in charge of Government Communication, Felix Kwakye Ofosu has announced the arrival of 100 29-seater buses in the country aimed at reducing recent road transport challenges. In a post made on X on April 5,2026, Minister of State in charge of Government Communication explained that the move forms part of broader efforts by government aimed at improving the transport sector. He added that this form part of 300 procured announced by government with another batch of 100 set to arrive in August and the last batch arriving in November. This comes in response to the recent public transport issues in Ghana, particularly acute shortages, severe overcrowding, and high fares, leaving commuters stranded, especially in urban areas.