Business Outlook Africa

Author name: Business Outlook Africa

Banking & Finance

Bank of Ghana Clarifies Treatment of Earnings for Content Creators

  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

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.

News

NSA Partners ABSA Bank To Provide Overdraft Relief for Service Personnel

The National Service Authority(NSA) has announced a partnership with ABSA Bank which will see to the provision of overdraft facilities for all active National Service Personnel. In a statement released on Friday, April 17,2026, the Authority explained that the move comes as a response to the often delayed monthly allowance disbursement cycle and will now give Personnel a bit of relief. The statement further added that under the agreement,qualifying personnel will be able to withdraw beyond up to 85% of their monthly NSS allowance, with the overdraft bearing no interest in a period of delay. The overdraft facility also allows NSS personnel to access the overdraft without collateral requirements with the facility however been only available to active NSPs with the Absa Ignition Account. The Authority then encouraged any Personnel interested in accessing the facility to onboard onto the Ignition app through its student online submission portal, stating that repayments are automatic and will be taken once the funds are released hence students have nothing to worry about. Speaking to this, the Director General of the National Service Authority, Madam Ruth Dela Seddoh, explained that the collaboration underscores how committed the authority is in addressing the concerns of the Personnel. “”We hear the frustration of our service personnel, and we are taking concrete action. Delays in release of funds have, at times, placed hardship on young graduates serving their nation. This NSA partnership with Absa Bank facilitated by the National Service Personnel Association, who played a pivotal role in brokering the collaboration and represented the collective concerns of personnel across all regions, will ensure that no NSP will be left stranded due to timing mismatches between their service and their allowance.” She stated The Managing Director of Absa Bank Ghana LTD, Edward Nartey Botchway explained that “At Absa, we understand how allowance delays can put real pressure on young graduates, especially when they are trying to cover basics such as rent and transport. This collaboration with the National Service Authority and the National Service Personnel Association aims to bridge that gap and ensure that a delay in disbursement does not become a crisis for our national service personnel.” The Authority reassured the public of its commitment towards national development and to ensuring timely and efficient payment of allowances.

Africa

Iran says Strait of Hormuz is ‘open’ but tracking shows few ships moving

Iran’s foreign minister has said the Strait of Hormuz has reopened for commercial vessels, but added that ships should use designated safe lanes. Tehran has effectively blocked the key oil shipping channel since the US and Israel attacked the country on 28 February. A ceasefire between the US and Iran is due to expire on 22 April. US President Donald Trump said a naval blockade of Iranian ports would continue until a peace deal was agreed between the two countries but that it was “a great and brilliant day for the world”. Maritime groups say they are still verifying whether it is safe for vessels to travel through the strait, and tracking shows minimal ship movement. The announcement by Abbas Araghchi, Iran’s foreign minister, came on Friday – the first full day of a 10-day ceasefire between Israel and Lebanon. “In line with the ceasefire in Lebanon, the passage for all commercial vessels through Strait of Hormuz is declared completely open for the remaining period of ceasefire on the coordinated route as already announced by Ports and Maritime Organisation of the Islamic Rep of Iran,” he wrote on X. Iranian state TV later quoted a “senior military official” as saying that the passage of these vessels would be through a “designated route” and that the passage of military vessels through the Strait would still be “prohibited.” This is likely referring to a map and two routes designated by Iran’s Islamic Revolutionary Guard Corps (IRGC) and widely reported by Iranian media last week. Some Iranian news outlets have criticised Araghchi’s post. Tasnim News Agency, affiliated with the IRGC, called it “bad and incomplete”, saying such passage would be considered “void” should the US naval blockade continue. Others called for the Iranian authorities to clarify the matter. Iranian Parliament Speaker Mohammad Bagher Ghalibaf, who headed Iran’s delegation in the recent talks with the US in Islamabad, said on X that Donald Trump “made seven claims in one hour, all seven of which were false”. On the Strait of Hormuz, he said that, with the “continuation of the [US] blockade”, the Strait “will not remain open”. Iran is an ally of Hezbollah, a Shia Muslim political and military group based in southern Lebanon. Israel launched strikes on Lebanon on 2 March in response to those carried out by Hezbollah, which itself was retaliating against the US and Israel for its attacks on Iran. Meanwhile, Trump said talks with Iran to end the war would continue over the course of the weekend, adding that he did not think there were too many significant differences between the two sides. It comes after Iran’s foreign ministry said the country’s stockpile of enriched uranium would not be transferred “anywhere under any circumstances”, denying Trump’s claim on Friday that the regime had agreed to hand it over to the US. Trump also told CBS News, the BBC’s US partner, that no ground troops would be needed to remove the enriched uranium, saying that the US and Iran would “work together to go get it”. “And then we’ll take it to the United States,” he added. About 20% of the world’s oil and liquefied natural gas (LNG) usually passes through the strait, but the number of ships transporting this has dramatically decreased during the recent hostilities. Iran has threatened to attack tankers and other ships, as well as warning that it has laid mines. This has sent shock waves across the global economy, causing fuel prices to soar. While the cost of oil plummeted on Friday following Araghchi’s announcement, questions remain about the validity of it and whether a temporary reopening would allow ships to transit through. “I need further clarification for the shipping industry that there will be no risks for the ships to navigate and it will be in accordance with international law,” Arsenio Dominguez, the head of the International Maritime Organisation (IMO), told BBC World Business report. The IMO has information that some ships have started to sail but that it still needed to verify this as “some ships turn off their identification systems in order not to be targeted”, he said. Cormac McGarry, director for maritime security at the consultancy firm Control Risks, said he was “no more optimistic than he was yesterday” about the strait reopening, despite Araghchi’s announcement. He told BBC’s 5 Live Drive that the statement “basically changes nothing” as the implicit threat of mines remain. “Right now, the scenarios are looking pretty bleak for shipping over the next few weeks,” McGarry added. UK Prime Minister Sir Keir Starmer said on Friday that his country and France would lead a multinational mission to protect commercial shipping routes in the Strait of Hormuz. Speaking after a meeting of 49 countries, Starmer underlined the work would be “strictly peaceful and defensive” and would only be put in place once fighting in the region ends. Source : BBC

Energy

ECG Completes Lashibi Primary Substation Upgrade

The Electricity Company of Ghana has announced the successful completion of the Phase 2 of the Government’s transformer Replacement and Upgrade Programme at the Lashibi Primary Substation. In a statement released on Thursday,April 16,2026 it explained that the project which was initially scheduled for completion on Friday,April 17,2026 was completed ahead of time due to amount of work put in by its technical team . It added that as a result of this power has been restored ahead of time to the affected areas. The company also added that it will soon undertake a nationwide replacement of aging transformers in affected areas to not only improve power supply but to also reduce frequent outages and reduce system overload. The company then assured the general public of its commitment to delivering improved and reliable electricity services to support Ghana’s development while’s noticing Ghanaians to stay alert for information on the next power transformer upgrade as it nears its finalization.

Economy

Ghana’s Producer Inflation Hits 1.5% in March 2026 — GSS

The latest data released by the Ghana Statistical Service (GSS) has revealed that the Producer inflation in Ghana for March,2026 stood at 1.5%. The data from the GSS further revealed that on the month-on-month basis, producer prices rose by 0.7% between February and March 2026 with the GSS describing this short-term increase as an early signal that price pressures are beginning to build. Among the several sector-specific trends shaping the March 2026 PPI,the rising utility costs emerged as an upward driver. Moderate price changes were also recorded in the mining sector with prices declining in both manufacturing and transport. The GSS noted that falling transport costs continue to support business competitiveness, while stable manufacturing prices present opportunities for firms to plan and invest. The Service, however, cautioned that careful policy and pricing decisions remain essential as short-term pressures begin to emerge across sectors.

Banking & Finance

NTHC Securities Relocates Office to Martco House, Adabraka

The NTHC Securities has announced the relocation of its offices to a new address in Accra, informing the investing public and key stakeholders of the change. The company which was previously located at the Ringway Estate opposite the British High Commission has now moved to the Martco House in Adabraka. This was announced in a statement issued today and is being to be addressed to all Licensed Dealing Members, the Securities and Exchange Commission, the Central Securities Depository, custodians, registrars, and the general investing public. Members of the public and investors who transact business with NTHC Securities are advised to take note of the new address for all future correspondence and visits. The NTHC Securities is a subsidiary of the National Trust Holding Company (NTHC) group which specializes in stock brokerage, investment advisory, and capital market transactions. Established in 2003, it happens to be one of the oldest and most experienced market players on the Ghana Stock Exchange.

News

AngloGold Ashanti to Buy Back Part of Its Own Debt in $650 Million Deal

Global Gold Mining Giant,AngloGold Ashanti, has announced its plan to buy back part of the money it owes to investors in a deal worth up to $650 million. What Is Happening? This comes after the mining company issued out corporate bonds some years ago with the mining company now offering to pay back some of that borrowed money before the due date, by purchasing the same bonds it issued from investors who are willing to sell them back (cash tender offer). Which Loans Are Involved? Three sets of bonds are targeted: • Bonds that were due to be repaid in 2028, carrying a 3.375% interest rate — worth $750 million in total • Bonds due in 2030, carrying a 3.750% interest rate — worth $700 million in total • Bonds due in 2040, carrying a 6.500% interest rate — worth $300 million in total How Much Are Investors Being Paid? For every $1,000 worth of bonds they surrender: • Holders of the 2028 bonds will receive approximately $978 • Holders of the 2030 bonds will receive approximately $971 • Holders of the 2040 bonds will receive nothing — their bonds were not accepted in this round When Will Investors Receive Their Money? Payment is expected on 16 April 2026 for investors who submitted their bonds early with the offer window closing on the 28th of April 2026. With AngloGold Ashanti being one of Ghana’s most significant mining assets, this move by the company not only strengthens the company’s financial health but also affects jobs, tax revenues, and investment in Ghana’s mining sector.

Banking & Finance

MobileMoney Fintech LTD Tightens Agent Network Compliance in Bid to Protect Customers

The MobileMoney Fintech LTD has announced a series of regulatory compliance measures targeting its MoMo Agent platform, as the company conducts routine checks to bolster platform security and meet applicable regulatory standards. In a media release by the company on Thursday, April 16,2026 the company announced that accounts of certain agent have been put under temporary restrictions as part of the verification exercise. The company added that the restrictions will take forms with agents found to have committed minor infractions receiving warnings, those with moderate breaches facing temporary account suspension, while agents involved in serious violations will have their accounts permanently terminated. The FinTech company disclosed that it has already engaged affected agents and, where appropriate, lifted restrictions on accounts while investigations continue. The company added that these measures are being put in place to ensure that its customers are protected and preserve trust across the agent network. “MobileMoney Fintech LTD will continue to engage agents and relevant stakeholders to promote a strong, reliable, and sustainable MoMo ecosystem,” the company said in the release. MobileMoney Fintech LTD urged all agents to operate strictly within approved guidelines and comply with applicable regulatory requirements reaffirming its broader mission of advancing Ghana’s digital economy.

Energy

Government Announces Petroleum Relief For Consumers With 2 Cedis reduction per liter on diesel and 36 Pesewas reduction per litre on petrol.

The Government of Ghana has announced that effective ,Thursday April 16,2026 it will provide a relief package to ease the burden to petroleum consumers by absorbing GHC2.00 per litre on diesel and GHC0.36 per litre on petrol. In a statement issued on Wednesday, April 15 2026 by Spokesperson to the President and the Minister in Charge of Government Communications, Felix Ofosu Kwakye, he explained that love aims at reducing the cost burden on households, transport operators, and businesses. Felix Kwakye Ofosu added that the intervention which is expected to remain in operation for a period of one month comes at a short term response rising prices of petroleum products on the international market. He added that even though this intervention has been put in place,government will continue to monitor the international market and adjust its policies if the need arises highlighting the government’s commitment to supporting Ghana’s economic recovery in the face of external shocks.