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Energy, Uncategorized

NPA Urges General Public To Disregard Media Commentary On Anticipated Gas Shortage.

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The National Petroleum Authority (NPA) has directed the general public to disregard media commentary on the anticipated gas shortage. In a statement released on February 20, 2026, in response to a news publication on a commentary made by the Chief Executive of the Chamber of Oil Marketing Companies (COMAC), Dr.Riverson Oppong, the NPA assured the public that there is enough Liquefied Petroleum Gas (LPG) in stock to meet demand, citing over a month’s supply cover and increased production from local refineries. The Authority further indicated that, under the current national import plan, an additional LPG cargo is expected within the next two weeks to strengthen existing stock levels and ensure continuous supply across the country. Consumers were therefore advised to desist from panic buying and remain calm, as there is no imminent LPG shortage in Ghana, with regulators maintaining close monitoring of the market to keep it well supplied.    

Trade

Finance Ministry Prohibits Land Transit of Cooking Oil

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The Ministry of Finance has prohibited the land transit of cooking oil following the Ghana Revenue Authority’s interception of eighteen articulated trucks suspected to be involved in a transit diversion scheme. In a statement released by the Public Relations Unit of the Ministry after the Finance Minister,Dr. Cassiel Ato Forson’s, visit to the border posts on 20 February 2026, it was established that the trucks were moving without the mandatory Customs Human Escorts required for such consignments. The statement also added that twelve of the eighteen trucks which had been declared as goods in transit to Niger were impounded, with eleven currently secured at the Tema Transit Yard for detailed inspection and further legal processing. One truck reportedly overturned while attempting to evade interception, spilling its cargo, while the remaining trucks are being pursued by authorities. Initial suspended duties and taxes were estimated at about GHS 2.6 million, but post-interception examinations revised the potential revenue exposure to more than GHS 85 million, highlighting what officials described as systemic control weaknesses and possible human complicity. Following the incident, the Ministry directed the GRA to undertake comprehensive investigations, with disciplinary action expected against any Customs officers found culpable. Criminal investigations will also extend to importers and clearing agents where evidence supports prosecution. As an immediate policy response, government announced that all land transit of cooking oil through Ghana is prohibited and that such consignments must be routed exclusively through the country’s seaports. Authorities also indicated that monitoring and tracking of transactions originating from land collection points will be intensified to safeguard state revenue. The Ministry also added that impounded goods will be auctioned in accordance with applicable laws. The Ministry reaffirmed government’s commitment to protecting local industry and jobs while ensuring that Ghana’s customs regime is not exploited to undermine domestic revenue mobilisation and national development.  

Banking & Finance

BoG and SEC Warn Virtual Asset Providers Against Unauthorised Promotions

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The Bank of Ghana (BoG) and the Securities and Exchange Commission (SEC) have cautioned Virtual Asset Service Providers (VASPs) against mass marketing and public promotional campaigns for virtual assets, unless explicitly authorised by the regulators. In a joint statement released on Friday, 20th February 2026, the two regulators in the financial market explained that the directive is aimed at addressing growing concerns over the increasing advertisement of virtual assets and stablecoins. This includes the use of large billboards in Accra and other parts of the country by some VASPs. The statement also noted that virtual asset advocacy is a regulated activity requiring registration by both the BoG and SEC with detailed rules on advocacy and advertising to be soon issued in due course. VASPs who have already erected billboards or other public advertisements are also instructed to remove them within 48 hours of the notice. The regulators warned that failure to comply will attract strict sanctions. This directive forms part of broader efforts to ensure consumer protection, maintain financial stability, and promote responsible innovation within Ghana’s emerging virtual asset ecosystem.          

Afreh Biney, Director-General, SSNIT
Economy

SSNIT Reports Improved Compliance

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  The Director-General of the Social Security and National Insurance Trust (SSNIT), Kwesi Afreh Biney, has stated that there has been significant improvement in compliance with social security contributions. Addressing the press on 29th February 2026, he explained that the progress can largely be attributed to the growing recognition by employers of the Trust’s importance to employees. He noted that timely payment of contributions not only benefits workers but also helps create a positive workplace environment that motivates employees to perform at their best. “I think there’s been a lot of improvements with regards to compliance. Employers are understanding that by paying for your workers, you are actually creating the environment at the workplace that motivates people to give of their best,” he said. Mr. Afreh Biney also commended the Minister for Finance, Dr. Cassiel Ato Forson, for settling contributions of government employees during the 2025 financial year. He indicated that arrears dating back to 2024 and 2025 were cleared and expressed optimism that the current trend of timely payments would continue. “And let me also commend the Minister of Finance for his outstanding performance last year with regard to payments for SSNIT contributions of government employees. For 2025, every due obligation from government was paid. So at the end of 2025, government did not have any contribution arrears for 2025. In fact, contribution arrears from 2024, by March last year, the minister had cleared them. And based on engagement that we’ve even had this year, we are pretty confident that that trend will continue,” he stated. He further highlighted improvements within the private sector, noting that it now accounts for about two-thirds of the Trust’s membership and contributes 52 per cent of SSNIT’s monthly inflows. He added that the Trust is working to make its services more convenient and accessible to ensure the figures continue to improve. “The private sector has also improved. In fact, the private sector today accounts for two-thirds of our members, and they account for 52% of the contributions that come in each month. As we continue to make it convenient and accessible for all to engage us, we believe that these numbers will be improved,” he said.

Africa, Trade

Government Initiates UNCLOS Arbitration to Resolve Ghana–Togo Maritime Boundary Dispute

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The Government of Ghana has officially informed the Government of Togo of its decision to settle issue regarding the maritime boundary between the two countries by an independent international panel (arbitration) under the United Nations Convention on the Law of the Sea (UNCLOS). In a statement released and signed by the President’s Spokesperson, Felix Kwakye Ofosu, on the 20th of February 2025, he stated that this move follows unsuccessful attempts by the two Governments at negotiating a boundary over the past eight years . “This follows attempts at negotiating a boundary which have gone on for the past eight years but have not resulted in an agreed outcome.” Government explained that this move was necessary in order to maintain the good relations between the two countries by ensuring an amicable resolution  to the issue and winding down growing tensions between some institutions in the two countries. “Ghana has taken this step in order to avoid an escalation of incidents that have created tensions between some of our institutions and to promote an amicable resolution, thereby contributing to the continued good relations between our two countries.”  

Economic Reports, Telecommunications

Ghana Tops 2025 GSMA Mobile Money Regulatory Index (MMRI)

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Ghana has maintained its position as the world’s leading country in mobile money regulation, according to the GSMA Mobile Money Regulatory Index (MMRI) 2025. In a statement released by the communications department of the Central Bank dated February 20, 2026, it cited a 1.04% increase in the country’s overall score from its previous 95.06% in the past year to 96.10% this year . The statement explained that the 1.04% improvement reflects the country’s strong policies and regulatory systems that support the growth of mobile money services across the country. It stated  that these measures help  deepen financial inclusion by allowing more people to access digital financial services safely and easily. According to the statement , the MMRI assesses how effective mobile money regulations are in over 90 countries, focusing on areas such as consumer protection, operational efficiency and innovation in digital finance. The central bank added that Ghana’s continued top ranking shows the country’s commitment to building a reliable and secure mobile money ecosystem which benefits businesses, service providers and customers. The Bank said it will continue working with industry stakeholders to strengthen policies and ensure steady progress toward a fully inclusive and digitally driven economy.      

Thomas Nyarko Ampem,Deputy Minster for Finance
Trade

Deputy Finance Minister Praises GRA for Seizing 12 Trucks; Over GH¢85m Taxes at Risk

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The Deputy Minister for Finance, Thomas Nyarko Ampem, has praised the Customs Division of the Ghana Revenue Authority (GRA) for intercepting 12 articulated trucks suspected to be involved in a revenue diversion scheme. The operation which took place overnight along the Dawhenya–Tema Road between 10:00 p.m. and 5:00 a.m. involved Customs officers, the National Security Revenue Mobilisation Taskforce and enforcement teams from Tema Collection and Customs Headquarters. Officials say the trucks were part of a group of 18 vehicles that had been cleared as transit goods. The cargo was declared as goods moving from Akanu to Niger through Kulungugu. However, the trucks were intercepted while travelling without the required Customs escort, which is against transit rules. The trucks were carrying 44,055 packages of edible cooking oil, tomato paste and spaghetti. Authorities estimate that more than GH¢85 million in taxes could have been lost if the goods had been diverted into the local market. Eleven of the trucks have been kept at the GPHA Transit Terminal under Customs supervision, with support from the Ghana Ports and Harbours Authority. One truck broke down during the operation, and its goods are being moved to another vehicle to keep them safe. Checks show that all 18 trucks were electronically cleared, but only 12 have been found so far. Investigations are ongoing to locate the remaining six trucks. The Deputy Minister stated that the interception shows government’s determination to stop revenue leakages, adding that he has directed the Commissioner-General to finish investigations within one week and noted that two Customs officers linked to the case are being tracked. “Investigation is ongoing to identify the six outstanding trucks. I have asked the Commissioner-General to conclude investigations in one week. We are tracking the two Customs officers who were involved. We take these things seriously because the impact on our revenue is serious ,” he stated. The Commissioner-General of the GRA, Anthony Kwasi Sarpong, also warned businesses and traders to follow Customs rules. He said the Authority will apply the law, including confiscating goods and taking legal action against offenders. “We will apply the law of confiscation. The full arms of the law will be applied,” he said. The incident forms part of ongoing efforts to reduce smuggling and improve revenue collection in the country.

President Mahama signing the 24-Hour Authority Bill
Economy

President Mahama assents to 24-Hour Economy Authority Bill

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President John Dramani Mahama has assented to the 24-Hour Economy Authority Bill, giving legal backing to one of the government’s key economic transformation policies. The bill  which was  signed on 19th February 2025, at the seat of government  will oversee the implementation of the policy, which aims to enable businesses to operate around the clock through a system of incentives and support mechanisms. Speaking after the signing, President Mahama said the move marks a transition from planning to implementation, noting that many Ghanaians had anticipated the legislation as a cornerstone of the administration’s strategy to boost productivity and job creation. “Cabinet Colleagues, I just appended my signature to give assent to the 24-Hour Authority Bill. This Bill Ghanaians have been waiting for, it was one of our flagship strategies for economic transformation,” the President stated. According to him, although the process took time, it was necessary to ensure the  required legal procedures are followed to  ensure the initiative is firmly grounded in law. “It has taking a while but we needed to go patiently through the process to give legal effect to it and so from now we must move from strategy to implementation,” President Mahama said. The President also  indicated that both local and foreign investors have been awaiting clarity on the incentive package tied to the policy, which is expected to encourage business expansion, increase output and generate employment, particularly for the youth. President Mahama congratulated the team that worked on the bill, particularly Goosie Tanoh and his colleagues, expressing gratitude for their efforts in bringing the legislation to fruition. The 24-Hour Economy is an economic policy aimed at allowing businesses, public institutions and services to operate around the clock (day and night) instead of the traditional 8-to-5 system.

Mr. Mensah Thompson, Deputy Director-General, Operations at the Securities and Exchange Commission (SEC)
Banking & Finance

SEC Reaffirms Commitment to Regulated Virtual Asset Ecosystem in Ghana

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The Deputy Director-General, Operations at the Securities and Exchange Commission (SEC), Mr. Mensah Thompson, has reiterated the Commission’s commitment to building a credible and well-regulated virtual asset ecosystem in Ghana at the Ghana Virtual Assets & Financial Services Symposium held on 17th February 2026 at the Mövenpick Ambassador Hotel, Accra. In his keynote address, Mr. Thompson highlighted ongoing regulatory measures, including the development of Guidelines for Digital and Online Foreign Exchange Trading Activities and the operationalisation of the Virtual Asset Service Providers Act, 2025. “Regulatory clarity is not an obstacle to growth. It is the foundation of sustainable growth,” he stated. He noted that the SEC is finalising a Regulatory Sandbox framework and strengthening supervisory and enforcement actions to protect investors and uphold market integrity. The Deputy Director-General also emphasised collaboration with the Bank of Ghana and other stakeholders, including implementation of a National Virtual Asset Literacy Programme and compliance with global AML/CFT standards. He reaffirmed that the SEC remains committed to fostering innovation within a framework of trust, transparency and financial stability.   Source: Securities and Exchange Commission (SEC), Ghana

Dr. Johnson Pandit Asiama ,Governor, Bank Of Ghana
Banking & Finance

Dr. Asiama Calls for Structural Strengthening and Disciplined Lending in Ghana’s Banks

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The Governor of the Bank of Ghana, Dr. Johnson Pandit Asiama, has outlined a new phase for Ghana’s banking sector, urging institutions to move beyond recovery and focus on structural strengthening to support long-term economic growth. Speaking at the Post-MPC Engagement with the Heads of Banks, Dr. Asiama stated that with improved macroeconomic stability,the sector must now not only prioritise structural reforms and stronger institutional foundations but also prioritise durability through stronger business models, broader ownership and disciplined innovation. “Colleagues, with macroeconomic stability improving and regulatory reliefs now behind us, the conversation must shift from resilience to structure. Stability has been restored. The task ahead is to strengthen the underlying architecture of the banking sector. The task now is durability. Durability requires stronger business models, broader ownership, deeper intermediation, disciplined innovation, and sound governance. The Bank of Ghana will continue to engage as a firm, fair, and forward-looking partner, supportive where necessary, but clear in its expectations.” He stated He also added that although non-performing loans are on the decline recently, they remain above benchmark levels, making disciplined lending critical as credit growth resumes. The Governor stressed that renewed lending must support productive sectors without undermining asset quality. “Similarly, while non-performing loans have declined, they remain above benchmark levels. As credit expansion resumes, underwriting discipline and sectoral risk assessment will be critical. Stability must now translate into purposeful intermediation, supporting agriculture, manufacturing, SMEs, and value-adding sectors, without reintroducing asset quality pressures.” Dr. Asiama also highlighted progress on financial sector reforms, noting that Ghana has enacted legislation to regulate digital asset activities. He said the focus has now shifted to implementing the framework and preparing institutions for the evolving digital finance landscape. “In addition, the Virtual Asset Service Providers Act has now been enacted, establishing a formal regulatory perimeter for digital asset activities in Ghana. The next phase is operationalisation. We are working on the regulatory frameworks, supervisory processes, and coordination mechanisms necessary to bring the Act fully into effect in a structured and orderly manner.” He then concluded that regulators and financial institutions share responsibility for strengthening the sector’s long-term foundations and ensuring it supports national development.