Business Outlook Africa

News

Live Events, News

GTCD commissions Ghana’s first-ever Campus Tourism Office at UG

The Ghana Tourism Development Company (GTDC) has commissioned Ghana’s first-ever Campus Tourism Office at the University of Ghana. The commissioning ceremony, held at the Southern Gate of Legon Hall on Monday, March 3, 2026, brought together key stakeholders in the tourism and creative arts sector, including representatives from the Ministry of Tourism, Culture and Creative Arts, the Ghana Tourism Authority, the Ghana Tourism Federation, and members of the academic community. Speaking at the event,the President of the Ghana Tourism Federation (GHATOF), Mr. Seth Yeboah Ocran, emphasized the Federation’s openness to collaboration, noting the interdependent nature of work in the tourism sector. “So we are ever ready, willing to collaborate. They saw together the duty to promote our country.We will focus on how we coordinate the groundwork, so when the visitors come to Ghana,you will have an unforgettable experience.“ Also addressing attendees, the Chief Executive Officer of the Ghana Tourism Authority stated that the facility will serve not only as a point of connection for students and industry players but also as an information and resource centre to promote tourism opportunities across the country. “I am delighted to be here with all the important people and today we are here to witness this.This is a beautiful office that we have waited here. It is a beautiful point of connection for anybody who is interested in tourism or commerce.It is a beautiful information centre as well.“ Delivering her remarks, the Minister for Tourism, Culture and Creative Arts, Abla Dzifa Gomashie stated that the establishment of the Campus Tourism Office forms part of government’s broader strategy to deepen youth participation in tourism and position the sector as a viable driver of economic growth and job creation. The Minister explained that establishment of the hub is a strategic move for national development. “So, for national development, this decision to have this here, I’m saying it’s not a peripheral addition, it is a strategic tool for national development.“ She further encouraged all tourism agencies to work together, emphasizing that the work of the sector cannot be done in silos. “Kobby , thank you very much. You and your GTDC and all the 13 agencies under the ministry are doing very well. I urge you all to continue working together.The collaboration is important. We cannot work in silos because all of that belongs to the same mother that is the Ministry of Tourism, Culture and Culture.” Receiving the facility on behalf of the University, Vice-Chancellor Professor Nana Aba Appiah Amfo said the partnership aligns with the University’s strategic vision and strengthens its mandate to produce globally competent graduates who remain firmly grounded in African culture and identity. The initiative, undertaken in partnership with the University of Ghana, marks a strategic move to directly engage Ghana’s youth and academic community in tourism development. The office will function as a dedicated hub to promote student travel, cultural exchange, and experiential learning centered on Ghana’s rich heritage.

Economy, News

24-Hour Economy Secretariat Partners Venture Capital Trust Fund to Boost Ghanaian Businesses

The 24-Hour Economy Secretariat has announced a strategic partnership with the Ghana Venture Capital Trust Fund to strengthen support for Ghanaian businesses. The collaboration, disclosed in an X post on March 2, 2026, is aimed at providing businesses with the capital required to scale up operations, expand sustainably, and create jobs. According to the Secretariat, the partnership will prioritise patient financing, investment readiness, and stronger coordination between policy and capital — particularly for small and medium-sized enterprises (SMEs) positioned to operate at scale under the 24-Hour Economy policy. The Secretariat emphasised that the initiative is designed to transform productivity ambitions into investable and fully operational enterprises It further noted that the partnership forms part of broader government efforts to ensure the successful rollout of the 24-Hour Economy programme.  

Economic Reports, News

Latest Afrobarometer Reports Shows Russia Lags Behind Global Powers in African Perception

Afrobarometer has revealed in its latest report that fewer than four in ten Africans view Russia’s economic and political influence in their countries as positive — significantly lower than perceptions of China, the United States, and major international organisations. According to the study, which gathered data from 38 countries across the continent, 36% of respondents described Russia’s influence as “somewhat positive” or “very positive,” while 23% viewed it as somewhat or very negative. A notable 42% did not offer an assessment. Comparatively, Russia ranks well below other global and regional actors in positive perception. China recorded 62%, regional economic organisations 56%, the African Union 55%, the United States 52%, and the European Union 50%. The report further indicated that among the seven in ten Africans who said they are aware of the Russia–Ukraine war, 72% believe their countries should remain neutral. Mali was the only surveyed country where a majority (72%) expressed support for one side which is Russia. Afrobarometer is a trusted, independent research network that collects reliable data on Africans’ views regarding democracy, governance, and quality of life. Through regular, face-to-face surveys conducted in multiple countries, it provides credible insights into public opinion across the continent.

News, Economy

Government Can Now Issue New Domestic Bonds Following Expiry of 2023 Restrictions

  The Ministry of Finance has announced the expiration of the restrictions on new domestic bond issuance. In a Statement released on March 2,2026 the Ministry explained that the three year restrictions which was imposed in 2023 as a result of debt default that preceded the Domestic Debt Exchange Programme (DDEP) and hence prevented the government from issuing new bonds has now expired. The Ministry also added that the expiration of the restrictions comes at a time where inflation is low, investor confidence is improving , macroeconomic environment is strong, supported by a robust medium-term debt management strategy and significant buffers. The statement also highlighted the government’s performance since 2025 having honored every coupon payment and obligation under the restructured bonds. The Ministry also explained that the expiration of the restrictions not only paves the way for the government to issue more domestic bonds but also help in reducing the government’s dependence on Treasury bills to finance its budget. The Ministry then commended Ghanians for their for their forbearance and cooperation during the restriction on domestic bond issuance .      

News

Ghana Embassy in Qatar Urges Nationals to Register for Emergency Preparedness Amid Middle East Tensions

The Embassy of the Republic of Ghana in Doha, Qatar has urged all Ghanaian nationals residing in Qatar who are yet to partake in the registration as part of the ongoing emergency preparedness measures to do so. In a statement released on Monday, 2nd March, 2026 the Embassy explained that the registration process is necessary to ensure effective communication, assistance or possible evacuation arrangements for Ghanaian citizens amid the ongoing tensions between Iran and Israel and USA which has left other countries like Qatar in the region affected. The Embassy stated that all Ghanaians in the region including students, workers, families, and visitors are expected to complete the registration via the link: https://docs.google.com/forms/d/e/1FAlpQLSfWvvyOXOBD0fnVaK-QXr- The Embassy expressed its commitment to supporting Ghanaian residents in Qatar and assured them that information provided will be treated with strict confidentiality and used solely for official emergency and consular purposes.

News, World

Government urges Ghanaians to avoid Non- Essentials travels to and from Middle East Amid Ongoing Tensions

The Government of Ghana has urged all Ghanaians to avoid non essentials travels to and from the Middle East amid ongoing tensions between Iran and US and Israel . The government also through the Ministry of Foreign Affairs urged Ghanaian nationals who find themselves in the region particularly Bahrain, Israel, Kuwait, Qatar, and the United Arab Emirates to remain indoors where possible,comply with directives issued by local authorities and remain vigilant at all times. The Ministry also encouraged nationals in these affected areas to avoid large gatherings, stay clear of sensitive locations , closely monitor official communications, most importantly keep travel documents readily accessible and maintain contact with the nearest Ghana diplomatic mission. The ministry further highlighted that an emergency preparedness plan has been activated and assessment are ongoing concerning the evacuation of Ghanaian nationals where necessary. The Government of Ghana also called on all parties to return to diplomatic engagement in the interest of protecting lives, ensuring economic stability and lasting regional peace. The Ministry then urged Ghanaian nationals requiring emergency consular support to contact: Ghana +233 240 913 284 +233 240 793 072 Israel +972 54 931 6007 Kuwait +965 256 211 59 +965 515 027 93 United Arab Emirates – Abu Dhabi +971 50702 2055 United Arab Emirates – Dubai +971 56165 7159 Qatar +974 5111 9817 +974 5575 5816 +974 5054 1911 Iran +98 992 656 6203  

President of Ghana, H.E John Dramani Mahama
News

Mahama Outlines Major Transport Infrastructure Plans in SONA

President John Dramani Mahama has announced that preparatory activities for the construction of the Accra–Kumasi Expressway are currently underway. Speaking on the transport sector during his delivery of the State of the Nation Address, Mahama indicated that activities for the expressway , such as feasibility studies, cost assessments, and detailed designs are ongoing, with the Ministry of Roads and Highways serving as the contracting authority. The project, when completed, will be a 198.7km six-lane high-speed motorway featuring eight interchanges. It primarily aims at reducing travel time between Accra and Kumasi by approximately two and a half hours. He described the project as Ghana’s first purpose-built expressway with limited access points to enhance safety and efficiency. “The Accra–Kumasi Expressway will be a 198.7-kilometre, six-lane, high-speed motorway. This expressway is designed to connect Ghana’s two largest cities, Accra and Kumasi, and to reduce the travelling time between Accra and Kumasi to approximately two and a half hours. This new alignment will have eight interchanges and will be Ghana’s first true expressway. Government has established the Accra-Kumasi Expressway Limited, which is a subsidiary of the Ghana Infrastructure Investment Fund, as the concessionaire that will be mandated to design, finance, construct, operate and maintain the expressway. With the Ministry of Roads and Highways as the contracting authority, the project delivery is structured as a long-term concession of up to 50 years. Mr. Speaker, this expressway will be Ghana’s first purpose-built expressway with limited access points, so goats and sheep cannot cross at any point. Mr. Speaker, it is designed for higher speed limits and modern safety infrastructure to reduce travel time and improve road safety. Preparatory activities, including feasibility studies, detailed designs and cost assessments, are currently underway. This major road construction work aims to improve mobility, safety and trade, while connecting communities to markets and essential services.” President Mahama also reiterated the government’s commitment to completing unfinished roads by announcing plans not only to complete all unfinished segments of the Eastern Corridor Road by the end of 2027, but also to continue and complete the 27.7km Accra–Tema Motorway and Extension Project, which is currently at 32 percent progress with construction ongoing. The project includes reconstructing the motorway into a four-lane expressway with three-lane service roads in both directions, as well as constructing new interchanges at Ashaiman, Community 18, and the Teshie Link. The Tetteh Quarshie Interchange will also be remodelled. “ Mr. Speaker, the Eastern Corridor, we aim to complete all unfinished segments of the Eastern Corridor Road by the end of 2027. Mr. Speaker, I will continue and complete the 27.7km Accra–Tema Motorway and Extension Project. This includes reconstructing the Accra–Tema Motorway into a four-lane expressway with three-lane service routes in both directions and interchanges at Ashaiman. Where you have the Ashaiman underbridge, it will now be an interchange. There will be another interchange at Community 18 and Teshie Link. Mr. Speaker, it also involves remodelling the Tetteh Quarshie Interchange. Construction works are ongoing and progress is at 32 percent.” President Mahama also announced that the re-establishment of a National Airline is expected to take off soon. He explained that the 10-member task force established to oversee the airline’s re-establishment has submitted a business model and operational framework that will be used in selecting a strategic partner for the project. “ Mr. Speaker, in fulfilment of my pledge to re-establish a national airline, a 10-member task force established to oversee this initiative has submitted a business model and operational framework to guide the selection of a strategic partner for the new national airline. And this new national airline will take off soon, inshallah.” The President reaffirmed government’s commitment to transforming Ghana’s transport infrastructure, stressing that these projects are aimed at improving mobility, enhancing road safety, boosting trade, and accelerating national development.

President of Ghana, H.E John Dramani Mahama
News

President Mahama Bans Sole-Source Contracts, Plans Parliament Approval for Sale of State Assets

President John Dramani Mahama has announced a ban on sole-source contracts as part of government efforts to tighten procurement processes and enhance transparency. Delivering the State of the Nation Address before Parliament of Ghana on February 27, 2025, the President explained that the move forms part of broader measures aimed at improving accountability in public spending. “This House, to tighten our procurement processes, [we are] banning sole-source contracts, except in exceptional circumstances,” he stated. The President also revealed plans to introduce legislation that would make it mandatory to obtain parliamentary approval before any government asset or property is leased or sold. The proposed law would cover state lands and state-owned enterprises. “We will also bring legislation to this House to make it mandatory to seek Parliament’s prior approval before any government asset or property is leased out or sold. This includes lands and state enterprises,” he added. President Mahama further noted that adjustments to cocoa producer pricing were necessary to improve liquidity within the sector while reducing the country’s reliance on borrowing, a move he said would help prevent the accumulation of debt for future administrations. “In the last week, we have had to take the painful but necessary decision to revise the producer price of cocoa to achieve competitive pricing and resolve the acute liquidity challenges in the sector. Failure to do this, as others did, and left a debt of 32 billion for this government to pay, would have meant borrowing billions in borrowed funds. This unplanned expenditure would have taken us right back to the very devastating economic problem we have only recently begun to escape.” He added