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News

EPA, Tema Oil Refinery, Ministry of Energy Lead in Public Financial Management Compliance

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Several major state institutions, including the Environmental Protection Agency , Tema Oil Refinery and the Ministry of Energy and Green Transitions, have been ranked among the highly compliant in the latest Public Financial Management (PFM) Compliance League Table. In total,seven public institutions were commended for their strict adherence to financial management rules and procedures. In a statement issued on March 19, 2026, the Ministry of Finance Ghana explained that the PFM Compliance League Table is a performance benchmarking tool designed to assess how well public institutions manage and utilize public funds. The initiative aims to deepen transparency, strengthen accountability, and drive continuous improvement across the public sector. According to the Ministry, the league table also fulfills a key commitment made in the 2025 Budget Statement to publish an objective, evidence-based assessment of compliance with the Public Financial Management Act, 2016 (Act 921), the law governing the management of public finances in Ghana. Among the institutions cited are the Ghana National Petroleum Corporation , Ministry of Finance , Ghana AIDS Commission and the Petroleum Hub Development Commission. The Ministry of Finance says it will engage institutions with low compliance scores to identify gaps in their financial management systems, while also taking firm and decisive action against persistent non-compliance.

News

Ghana Revenue Authority, University of Ghana Among 18 Institutions Named Least Compliant in PFM League Table

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Several major state institutions, including the Ghana Revenue Authority, University of Ghana, Ghana Commodity Exchange, and the National Communications Authority, have been ranked among the least compliant in the latest Public Financial Management (PFM) Compliance League Table. In total, nineteen public institutions were flagged for low adherence to financial management rules and procedures. In a statement issued on March 19, 2026, the Ministry of Finance Ghana explained that the PFM Compliance League Table is a performance benchmarking tool designed to assess how well public institutions manage and utilize public funds. The initiative aims to deepen transparency, strengthen accountability, and drive continuous improvement across the public sector. According to the Ministry, the league table also fulfills a key commitment made in the 2025 Budget Statement to publish an objective, evidence-based assessment of compliance with the Public Financial Management Act, 2016 (Act 921), the law governing the management of public finances in Ghana. Among the institutions cited are the Office of the Legal Aid Commission, Minerals Income Investment Fund, Venture Capital Trust Fund, National Peace Council, Financial Intelligence Centre, Korle Bu Teaching Hospital, National Council for Curriculum and Assessment, National Media Commission, National Food Buffer Stock Company, Office of the Head of Civil Service, Ministry of Education Headquarters, Ghana Infrastructure Fund for Electronic Communications, Ghana National Fire Service, National Disaster Management Organization, among others. The Ministry of Finance says it will engage institutions with low compliance scores to identify gaps in their financial management systems, while also taking firm and decisive action against persistent non-compliance.

News

GoldBod Clinches Triple Honours at PELT Awards

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The Ghana GoldBod, has emerged as a standout performer at the Public Enterprise League Table Awards, securing three major accolades in a remarkable showing. The institution was crowned State-Owned Enterprise of the Year, while also taking home awards for Overall Best Specified Entity and Most Profitable State-Owned Enterprise, underscoring its growing influence and performance within Ghana’s public sector. Receiving the awards on behalf of the Board, Deputy Chief Executive Officer, Richard Nunekpeku, expressed appreciation to the State Interests and Governance Authority for the recognition. He noted that while the achievement is a significant milestone, it will serve as motivation for the institution to intensify efforts and exceed its targets. The PELT Awards, an initiative of Ghana’s Ministry of Public Enterprises in collaboration with SIGA, was introduced in 2022 to rank State-Owned Enterprises and Specified Entities. The awards aim to promote efficiency, profitability, and strong corporate governance across public institutions. The triple win reinforces GoldBod’s position as a key driver of revenue and accountability within Ghana’s state-owned enterprise landscape.

News

Ghana Records 2.64 Million Businesses in Landmark IBES I Survey – GSS

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The Ghana Statistical Service has revealed that Ghana recorded a total of 2.64 million businesses in 2024, according to findings from the Integrated Business Establishment Survey (IBES I), a survey which offers one of the most comprehensive pictures of the country’s enterprise landscape to date. The Government Statistician, Dr. Alhassan Iddrisu, disclosed that out of the total number of businesses, 1.87 million,representing 70.6%,operate from fixed structures. Meanwhile, 693,748 businesses (26.2%) operate in open spaces, and 82,920 (3.1%) are mobile businesses. According to the survey, nearly 700,000 businesses operating in open spaces employ more than 922,000 people across the country. This underscores their critical role in job creation and service delivery at the community level. The data further reveals that women play a dominant role in the open-space business ecosystem. They account for nearly 80% of workers and an estimated 84% of business owners in this sector nationwide. The survey also shows that open-space businesses are overwhelmingly Ghanaian-owned, with more than 99% under local ownership. This positions the sector as a strong foundation for domestic enterprise and grassroots economic growth. The Ghana Statistical Service further reports that Ghana has 82,920 mobile business operators, highlighting the growing importance of mobile trade within the country’s economic landscape. Notably, 77% of these operators are women, while over 60% are youth, making mobile businesses one of the most accessible pathways into employment and entrepreneurship, particularly for young people seeking flexible and low-barrier entry into the world of work. The Ghana Statistical Service emphasized that the IBES I findings will play a crucial role in shaping inclusive policies that recognize and support all forms of businesses within the economy.

News

Dr. Mumuni Zakari Inaugurated onto UG College of Humanities Advisory Board

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The First Deputy Governor of the Bank of Ghana, Dr. Mumuni Zakari, has been inaugurated onto the Advisory Board of the College of Humanities at the University of Ghana, reaffirming the Bank’s commitment to institutional excellence, partnerships, and national development. The inauguration, which took place on Thursday, March 19, 2026, at the University of Ghana will see Dr. Zakari serve as Chair of the Advisory Board. Delivering his remarks, he described the role as both an honour and a responsibility. “This role is more than a mandate; it is a responsibility to support the continued growth and strength of an institution that has shaped generations of scholars and professionals in Ghana and beyond,” he stated. He emphasised the Board’s commitment to providing sound strategic guidance, fostering innovation, and supporting the institution to remain impactful and forward-looking in an evolving global environment. The Advisory Board, composed of distinguished professionals with diverse expertise, will work collaboratively with the College’s leadership to advance academic excellence and institutional development.

Economy

GVCA CEO Amma Gyampo Urges Productivity Push to Drive Jobs and Investment

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CEO of the Ghana Venture Capital and Private Equity Association(GVCA), Amma Gyampo has made a call for Ghana to transition from a treasury bill-driven economy to a more productivity-led growth model, with a strong focus on demand-driven development and industrialisation. Speaking on the topic ”Ghana’s Economic Reset:What it means for Investors and SMEs” as part of Investment Readiness Business Webinar Series organized by UKGCC and Deloitte, Amma Gyampo stressed the need for the country to prioritise productivity drivers that will enable individuals and businesses to actively contribute to economic growth. According to the speaker, Ghana must move beyond heavy reliance on short-term government securities and instead invest in sectors that generate real economic value and sustainable jobs. “ I think we need to really focus on the demand driven side of our economy, the productivity drivers of our economy. As we’ve seen in some of the presentations today, we need to move from a T-bill economy to a productivity led economy. And that’s what the potential of the reset offers us. “ she stated Amma Gyampo however, emphasized the need to place more attention on execution, noting that policies alone are not enough without proper implementation and alignment of key economic fundamentals. “But again, as our previous speaker said, it’s really about execution and making sure that we have all our ducks in a row and that we can actually deal with the fundamentals of our economy to be more productive and to feed into the businesses and the ventures that would actually create the jobs at scale” she added Amma Gyampo also made a call for strategic industrialisation, urging policymakers to focus on the right economic levers to support investors, domestic producers, manufacturers, and suppliers. The session which was organized by the UK-Ghana Chamber of Commerce (UKGCC) in partnership with Deloitte Ghana is designed to help businesses navigate Ghana’s evolving economic landscape following recent national dialogues and budget announcements.

Telecommunications

MTN GH Launches Sim Swap Self-Service

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MTN Ghana has launched Sim Swap Self-Service, a move aimed at enabling customers to replace their SIM cards whenever and wherever they may be, eliminating the need to visit a physical service centre for assistance. In a statement released on March,19,2026 , the telecommunication giant explained that this move forms part of its efforts to ensure customer satisfaction through the delivery of convenient, secure and innovative digital solutions. Speaking at the launch which was held simultaneously across six regions , Chief Customer Experience Officer, Jemima Kotei Walsh, explained that the move will not only give customers greater control but also see to a significant reduction in queues and waiting times at various MTN offices across the country. “The need for SIM swaps has always been high, with MTN Ghana handling roughly 250,000 of such requests each month across its service centers. The self-service will ease these burdens by reducing lines, waiting times and giving customers more control and flexibility over their accounts. Before the full rollout, a pilot program had already demonstrated the value of the initiative with more than 18,000 customers successfully swapping their SIMs independently or with very little help at MTN branches. This success was more than just numbers, it was proof of digital empowerment and a shining example of customer-driven innovation in action,” she explained The Director of Consumer Affairs at the National Communications Authority (NCA), Beatrice Hemen also praised the solution,emphasizing that telecom users frequently report SIM swap concerns. She added that the initiative will give customers greater choice and help shape Ghana’s telecommunications ecosystem. “The Authority consistently receives a significant number of SIM swap-related complaints. Empowering customers to handle the process themselves marks a major step forward,” she commented. The statement also highlighted that the new service allows users to replace lost, stolen, or damaged SIM cards quickly even from outside Ghana ensuring minimal disruption to mobile services. It also introduces advanced security features, including biometric facial recognition, to verify users and prevent fraud. MTN GH also noted that Customers can access the service via the myMTN App or by dialing *1333#, making the process fast, simple, and secure. The launch concluded with a live demonstration, showcasing just how easy it is for customers to complete a SIM swap independently.  

News

Newmont Corporation Contributes GH¢12.822 Billion in Fiscal Payments to Ghana in 2025

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Newmont Corporation has announced that it contributed GH¢12.822 billion in taxes and other statutory payments to the Government of Ghana for the 2025 fiscal year. The company in a statement released on Wednesday, March 18,2026 stated that the payments reinforce its position as a leading contributor to Ghana’s domestic revenue. The funds were disbursed through key state institutions, including the Ghana Revenue Authority, the Ministry of Finance, and the Forestry Commission. A breakdown of the payments shows Corporate Tax as the largest component at GH¢5.382 billion, followed by Capital Gains Tax of GH¢3.025 billion, linked to the sale of the company’s Akyem Mine in April 2025. Carried Interest contributed GH¢1.832 billion, while Mineral Royalties amounted to GH¢1.628 billion. Other contributions included PAYE Tax of GH¢514 million, Withholding Tax of GH¢434 million, Forestry Levy of GH¢15 million, and Property Rate of GH¢2 million. Beyond its fiscal contributions, Newmont Corporation said it continues to support Ghana’s long-term socio-economic development through targeted investments in infrastructure, environmental sustainability, and community development. In 2025, the company partnered with the Government of Ghana through the Ministry of Roads and Highways to rehabilitate the 46-kilometre Sunyani–Ntotroso–Akyerensua highway, a key transport corridor linking the Bono and Ahafo regions. The project is expected to improve road safety, enhance connectivity, and stimulate local economic growth. The company also supported Ghana’s Tree for Life Initiative, which focuses on restoring degraded lands and promoting environmental sustainability. Newmont Corporation remains the leading gold producer in Ghana, with a continued commitment to responsible mining that generates value and improves lives at both the local and national levels.

Banking & Finance

BoG Cuts Policy Rate to 14% Amid Inflation Outlook Risks

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The  Bank of Ghana  has reduced  the Monetary Policy Rate  by 150 basis point , bringing it to 14% from the  previous 15.5% announced earlier this year. Explaining the decision taken by the committee , The Governor said f the Bank of Ghana, Dr Johnson Pandit Asiama indicated that headline inflation is expected to remain within the medium-term target, despite growing external uncertainties. “However, rising geopolitical tensions in the Middle East have deepened uncertainty in the external sector. The bank’s latest forecast suggested that headline inflation would remain within the medium-term target.”he explained  The Governor also added that the committee  has taken notice of the potential risks that the country is likely to face as a result of the rising geopolitical tensions and external pressures but maintained that domestic conditions remain favourable with regards to reducing the policy rate. “An upside risk to the inflation outlook includes the likely pass-through of higher crude oil prices and escalating geopolitical tensions. In the view of the Committee, despite these upside risks to the inflation profile, the favourable domestic macroeconomic conditions, and also the high prevailing real interest rates, these provide scope to ease the policy rate further. Consequently, the MPC decided to reduce the monetary policy rate by 150 basis points to 14 percent.” The Committee stated that it will  continue to monitor developments closely and  come out with possible solutions in the next MPC meeting which is scheduled for May 18 to May 20 ,2026.  

Transportation

GPRTU Rules Out Immediate Transport Fare Increase Despite Fuel Price Hike

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The Public Relations Officer of the Ghana Private Road Transport Union (GPRTU), Abass Imoro, has stated that the Union has decided not to increase transport fares, despite the recent rise in fuel costs. Speaking on Public Sphere on Radio Univers, Mr. Imoro explained that the union considers several factors beyond fuel prices when determining transport fares, stressing that fuel costs alone do not dictate fare adjustments. “And we finally agreed that not for now. For now, the answer is no. We want to assure the general public that in transport operations, fare increments are not based solely on fuel price increases. There are other factors and costs that can also trigger adjustments. But for now, we have not come up with any fare increment,” he said. Mr. Imoro further noted that decisions to adjust transport fares are based on a comprehensive assessment of operational costs. “We look at documentation such as insurance premiums, DVLA charges, permits at assemblies, and taxes. We also consider spare parts, lubricants, and fuel prices,comparing where they were and where they are today. All these factors influence our decisions,” he explained. He also called on the government to review, revise, and scrap certain levies and taxes to ensure long-term stability in transport fares. “There are some levies and taxes that the government should look at. They can reduce or scrap some of them to ensure stability and keep the transport sector on a clean note,” he added.