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Economy

Ghana Ranks 25th as BOG Chair in Economics and Finance at UG Unveils Eagle–Chicken Economy Index to Measure Africa’s Economic Sovereignty

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The Bank of Ghana Chair in Finance and Economics at the University of Ghana, Prof. Paul Imhotep Yegandi Alagidede, has called for a strategic shift in Africa’s development approach through the introduction of a new framework for measuring economic sovereignty. Delivering the keynote address at the 9th Annual School of Social Sciences (SSS) Conference which, brought together academics, students, and policymakers,Prof. Alagidede unveiled the Eagle–Chicken Economy Index, a tool designed to assess the level of economic independence across all 54 African countries. The index according Prof. Alagidede  measures countries based on their ability to build self-sufficient economies, retain value from natural resources, and maintain control over their economic trajectory. The Initial findings revealed that Africa recorded an average score of 48.7 out of 100, falling below the “Eagle Economy” benchmark of 60. Prof. Alagidede highlighted that only 13 African countries currently qualify as “Eagle Economies,” having achieved relatively higher levels of economic sovereignty through deliberate policy choices, including value addition, domestic financial system development, and knowledge protection. Ghana ranked 25th out of the 54 countries with a score of 45.1. While acknowledging the country’s strengths in areas such as mobile money, renewable energy, and the creative economy, Prof. Alagidede identified structural challenges, particularly the limited value addition in key export commodities such as cocoa. “Ghana has Eagle sectors, but what holds it below the threshold is not lack of capacity. It is the continued export of raw commodities with minimal value retention,” he stated. Prof. Alagidede added that the continent’s economic position does not reflect its vast resource endowment  highlighting that the continent possesses approximately 60 per cent of the world’s unused arable land, mineral resources valued at over $82 trillion, and a youthful population with significant productive potential. He also underscored the ecological and intellectual assets of the continent, including the Congo Basin’s contribution to global carbon absorption and Africa’s extensive indigenous knowledge systems, which remain largely undervalued in the global economy. The keynote further outlined a five-point Indigenous Intelligence Framework aimed at transitioning African economies toward greater sovereignty. The framework advocates prioritising African knowledge systems in education, protecting indigenous innovations, properly valuing natural resources, promoting local value addition, and adopting governance systems rooted in African values such as Ubuntu. According to Prof. Alagidede, achieving economic sovereignty requires deliberate policy direction and a reorientation of development strategies across the continent.

Banking & Finance

GIPC Relocates to Ministry of Finance Complex in Kanda

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The Ghana Investment Promotion Centre (GIPC) has announced it will be operating from a new office location effective Wednesday, April 1, 2026, moving to the Ministry of Finance Office Complex at Kanda, Accra. The Centre made the announcement in a public notice, urging investors, partners, and all stakeholders to update their records accordingly and take note of the new address for all official visits and correspondence. The relocation comes months after the Ministry of Finance itself made a similar move. The Ministry of Finance officially relocated its offices from the Ministries enclave to Kanda in Accra earlier this year, with full operations beginning at the new premises on February 9, 2026. The Kanda facility was originally constructed by the Ghana Revenue Authority (GRA) prior to the current administration assuming office. The GIPC is Ghana’s foremost investment attraction and promotion agency, operating under the Office of the President and guided by the GIPC Act 2013 (Act 865). The Centre facilitates investments to stimulate economic growth, unlock opportunities, and spur job creation, and serves as the first point of contact for all foreign investors coming to Ghana. The GIPC says it looks forward to welcoming visitors at its new location.  

Banking & Finance

Ecobank GH Appoints Naa Alhassan Andani as Chairman of its Board of Directors

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Ecobank Ghana has appointed Naa Alhassan Andani as Chairman of its Board of Directors, effective Thursday, March 26, 2026. The appointment, which was announced on Monday,March 30,026 is seen as part of efforts by the bank aimed at reinforcing its governance structures and improve its leadership position within Ghana’s financial sector. Naa Andani, widely regarded as one of Ghana’s most accomplished banking professionals, brings on board more than 36 years of experience to the role with his expertise spanning across corporate and investment banking, financial management, strategic leadership and governance.Naa Andani has also occupied several high-level executive and board positions within Ghana’s banking sector. The bank noted that Naa Andani’s extensive experience in both corporate leadership and national governance frameworks makes him best fit for the role and positions him well to provide strong oversight and strategic direction. Reacting to the appointment, the Managing Director of Ecobank Ghana PLC, Abena Osei-Poku, expressed her confidence in his ability to guide the board at a critical time for the institution. “We are honoured to welcome Chief Alhassan Andani to the Ecobank family. His wealth of experience, visionary leadership and strong industry credibility make him the ideal person to guide our board at this pivotal time,” she said. “We look forward to working with him to further strengthen our achievements, deepen innovation and deliver long-term value to our customers, shareholders and the communities we serve.”she stated  Ecobank added that the appointment underscores its commitment to strong corporate governance, strategic leadership and sustainable growth.

Economy

Ghana to Introduce New Loans Act Aimed at Ensuring Judicious Use of Borrowed Funds

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The Minister of Finance Dr. Cassiel Ato Forson has announced that the Government of Ghana is set to introduce a new Loans Act . In a post made on Facebook on Monday, March 30,2026 the Finance Minister explained that this mover forms part of broader reset agenda by the current administration. He noted that the Act once formally approved will ensure the judicious use of borrowed funds and also see to it that high valued is gotten from any amount borrowed. “As part of this reset, Government will introduce a new Loans Act to strictly define the use of borrowed funds, ensuring that every loan is tied to high-impact, value-for-money investments.” the post read He added that the government is committed keeping debt sustainability at the core of every financing decision going forward and that Ghana will not return to a path of unsustainable borrowing. He concluded by saying that “Our guiding principle is simple: whatever we borrow must be worth it and must deliver tangible benefits to the Ghanaian people.”

Economy

Ghana Signs 11th Bilateral Debt Restructuring Agreement with EXIM India

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The Government of Ghana has signed its 11th bilateral debt restructuring agreement, this time with EXIM India. Giving his remarks on the Agreement, the Finance Minister Dr. Cassiel Ato Forson described the agreement as a critical step in consolidating gains under the country’s broader debt restructuring programme. He noted that the agreement comes a favorable time as the country is steadily progressing towards a low risk of debt distress, with improving macroeconomic indicators pointing to a sustained economic recovery. He reiterated that debt sustainability will remain central to all future financing decisions, stressing that the country will not return to a path of unsustainable borrowing. Also passing his remarks,Resident Representative of EXIM India, Rajesh Kumar Gulla, expressed support for Ghana’s recovery efforts, noting that the institution understands the challenges faced and is encouraged by the country’s recent progress. According to the Minister, the restructuring programme goes beyond easing the immediate debt burden, it also serves as a reset of Ghana’s borrowing strategy.

Telecommunications

MTN Group Surpasses 307 Million Customers in 2025, Posts Strong Financial Results

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MTN Group has crossed the 300 million customer mark, serving more than 307 million voice subscribers, 172 million data users, and 70 million Mobile Money customers across 16 markets as at 31 December 2025 ,a milestone the Group had set as a central target under its Ambition 2025 strategy. The achievement came alongside a strong financial performance for the year, with service revenue rising by nearly a quarter to R218 billion, underpinned by improved macroeconomic conditions and robust commercial execution across key markets. MTN Nigeria and MTN Ghana were standout performers, growing service revenue by 54.9% and 35.9% respectively in constant-currency terms. MTN South Africa posted a 2.0% increase in service revenue, maintaining momentum in what remains a mature and competitive market. Earnings before interest, tax and amortization (before once-off items) rose by more than a third in constant currency to R98.5 billion, supported by expense efficiencies of R3.6 billion. Adjusted headline earnings per share climbed 67%, while basic EPS swung from a loss in 2024 to a profit in 2025. Speaking on this,Group President and CEO Ralph Mupita credited the milestone to consistent investment and execution. “In the final year of our Ambition 2025 strategy, we were proud to have exceeded the 300 million customers milestone in line with our priority to deepen digital and financial inclusion,” he said. Data traffic across the network accelerated by 27%, with average monthly data use per customer increasing to 12.5GB from 10.8GB. On the fintech side, transaction volumes grew 15% to more than 23 billion, with total transaction value exceeding US$500 billion for the year. MTN invested R38 billion in network capacity, coverage and quality during the period, expanding broadband access to more than 94% of the population across its markets while cutting the average cost of data by 14%. The Group declared a dividend of 500 cents per share, up from 345 cents in 2024, and announced a R6 billion share buyback programme as part of an enhanced shareholder remuneration framework. Looking ahead, MTN unveiled Ambition 2030, its new strategic framework built around three platforms :Connectivity, Fintech, and Digital Infrastructure ,with artificial intelligence positioned as a key lever for growth. “We are hugely excited about Africa’s potential and are well positioned to leverage our scale, footprint and brand leadership to capture the significant structural growth opportunities identified,” Mupita said.

Banking & Finance

UG Wins 2026 National Banking & Ethics Challenge (NBEC)

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University of Ghana have been announced Champions of the second edition of the National Banking & Ethics Challenge (NBEC) after edging past UPSA(29.5 points) and UDS(26 points) with 31.5 points. The Competition organized by the Chartered Institute of Bankers (CIB) Ghana, aims at promoting financial literacy, ethics, and professional standards among university students in Ghana’s financial sector. The 2026 edition of the NBEC which happens to be the second ever edition of the competition featured 12 Universities across 5 regions,an addition of 4 regions unlike last year’s edition which featured only schools from the Greater Accra Region. As the winning team, the UG contestants will enjoy full scholarships on the registration, tuition and examination of the Chartered Institute of Bankers Professional Examination with Other contestants from the other 11 universities will enjoy 100% scholarships on Registration. The top 3 teams also earned some cash prizes courtesy of Absa Bank. All Contestants will also have the opportunity with to intern with GCB as part of the rewards. Speaking with Business Outlook Africa during the Competition,CEO of the Chartered Institute of Bankers, Mr Robert Dzato, ACIB hinted of plans to expand both the scope and size of the competition. “The first thing that will change is that we expect a number of universities to come on board from 5 to 12. Next year we’ll get bigger and better and potentially we could have a southern zone and a northern zone as well so that we don’t complicate every university here.That for us is very very fundamental. The second part is we expect some regulatory changes we have to bring those regulatory parts to. Things around non-conformity loans, things around digital assets, Crypto is a new development area.So these are new things that we’ll have to bring to improve upon the content in terms of the knowledge that we’re sharing ” he stated. The competition according to experts is not only tailored for student but for banking professionals and the general public as well to deepen the trust in the banking sector .  

Banking & Finance

UG, UPSA and UDS Advance to NBEC 2026 Grand Finale as Wisconsin, KNUST and UCC Bow Out

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The second edition of the National Banking & Ethics Challenge (NBEC) reached its peak today as the University of Ghana, UPSA and the University for Development Studies (UDS) booked their places in the Grand Finale after a dramatic Semi-Final contest at the CIB Ghana Auditorium in Accra Organised by the Chartered Institute of Bankers (CIB) Ghana, the NBEC aims to promote financial literacy, ethics, and professional standards among university students in Ghana’s financial sector. Six universities featuring the University of Ghana, UDS, KNUST, Wisconsin International University, University of Cape Coast, and UPSA entered the Semi-Final stage having survived a competitive preliminary round the previous day. The Semi-Final Contest concluded with the University of Ghana delivering a commanding performance, topping the standings with a total of 28.25 points across three rounds to claim 1st position and secure their place in the Grand Finale. UDS were not far behind, finishing 2nd with 27.50 points to also advance with  UPSA  also producing a resilient showing, accumulating 22.50 points to clinch 3rd position and edge out Wisconsin International University, who finished just below them on 22 points. KNUST, despite a stellar Round 1 performance, struggled in subsequent rounds and got knocked out with 21.30 points.                             The University of Cape Coast, Group B’s second-placed team from the preliminary stage, managed only 18.15 points and bowed out as well. The Grand Finale now sets up a fascinating three-way contest between the University of Ghana, UDS, and UPSA, where a new champion will be crowned as defending champions Academic City University College, winners of the maiden edition in May 2025, exited at the preliminary stage.

Business

ORC Online Portal Temporarily Down as Office Moves to Plug Security Gaps

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The Office of the Registrar of Companies (ORC) has announced a temporary disruption to its online portal following a system audit that uncovered unauthorized access to key entry points within the platform. The audit, conducted by the Office itself, revealed compliance concerns relating to the Data Protection Act and the Companies Act, as well as potential revenue leakages tied to certain paid services on the portal. In response, the ORC moved swiftly to review and secure the affected access points ,a move that has, in the interim, limited access for some users. In a public statement, the Office outlined the scope of its ongoing review, which includes aligning the level of information accessible on the portal with provisions of the Companies Act, enhancing data access controls, and ensuring full compliance with cybersecurity standards and the Data Protection Act. “These measures are being implemented to safeguard sensitive personal and corporate information, while reinforcing public trust in the ORC’s digital services,” the statement read. The ORC was also quick to address speculation linking the portal shutdown to controversies surrounding the sole-sourcing of government contracts, flatly denying any connection between the two matters. Additionally, the Office used the opportunity to clarify the scope of its company name search feature, stating that it only displays the names of registered companies and does not reveal ownership details or other sensitive corporate information. The ORC has assured the public that work is ongoing around the clock to restore full portal functionality, with enhanced safeguards being built in alongside the restoration process.

Banking & Finance

Six Universities Advance to NBEC 2.0 Semi-Finals as Academic City’s Title Defence Ends at Preliminary Stage

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The second edition of the National Banking & Ethics Challenge (NBEC 2.0) kicked off today with six out of twelve participating universities securing their places in the Semi-Final stage of the competition. Organised by the Chartered Institute of Bankers (CIB) Ghana, the NBEC aims to promote financial literacy, ethics, and professional standards among university students in Ghana’s financial sector. This year’s edition saw the twelve participating institutions divided into two groups of six, with the top three from each group advancing to the next stage. Group A produced a thrilling finish as the University of Ghana emerged group winners with 39 points, narrowly edging out UDS and KNUST, who both finished level on 38 points. Despite respectable outings, Academic City (29 points), GCTU (30 points), and Central University (26 points) could not do enough to secure a place in the next round. Group B was equally competitive. Wisconsin International University topped the group with 39 points, with the University of Cape Coast and UPSA following closely behind on 37 and 36 points respectively. The University of Education Winneba (26 points), Pentecost University (21 points), and All Nations University (20 points) bowed out of the competition. The Semi-Final and Grand Finale are scheduled for tomorrow at the CIB Ghana Auditorium, where a new champion will be crowned after Academic City University College, winners of the maiden edition held in May 2025 fell short in the preliminary stage.