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GoldBod Dismisses Claims of Inflated Laptop Prices and Sole-Sourced GHS11m Renovation Contract

The Ghana Gold Board has dismissed allegations circulating on social media that it inflated the price of laptops and awarded an GHS11 million office renovation contract through sole sourcing. In a statement issued on Saturday March 14,2025, the board explained that the renovation of the former Bank of Ghana head office building was procured through restricted tendering, after approval from the Public Procurement Authority, with Correca Ghana Limited emerging as the winning bidder among three shortlisted companies. GoldBod also rejected claims that it inflated the cost of laptops, stating that 15 Lenovo ThinkPad T14S laptops were purchased for GHS322,500, or GHS21,500 per unit, a price it says aligns with the open market value. According to the board, the laptops were procured through a single-source method approved by the Public Procurement Authority because only one supplier at the time could meet the required quantity and delivery timeline. The board added that all contracts have been published on its website in line with the Ghana Gold Board Act, 2025, urging the public to disregard what it described as false claims and misinformation.

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Ghana Statistical Service Partners with 25 MDAs to Strengthen Data-Driven Governance

The Ghana Statistical Service (GSS) has signed a Memoranda of Understanding (MoUs) with 25 Ministries, Departments, and Agencies (MDAs), marking a decisive step toward more coordinated and actionable national data systems. Speaking during the signing of the MOU on March 12, 2026, the Acting Government Statistician and Head of the Ghana Statistical Service,Dr. Alhassan Iddrisu, highlighted the transformative nature of the agreements. According to Dr. Iddrisu, the MoUs aim to break down institutional silos,ensure timely and accurate data is used for policy-making and national planning and shift focus from administrative reporting to strategic data use, making statistics a central tool for decision-making. “The memoranda we are signing today moves us from good intentions to intentional actions. This is more than a signing ceremony. It represents a fundamental shift from fragmented data systems to connected ones, from institutional silos to institutional collaboration, and from data as a by-product of administration to data that actively informs national decisions.” he stated. Dr. Iddrisu concluded that this is not just about data collection,it is about turning information into action, ensuring that government decisions are evidence-based and impactful. This initiative comes at a critical time as Ghana seeks to enhance governance, improve public service delivery, and meet the demands of a rapidly digitizing economy. By connecting data systems across MDAs, GSS is positioning itself to provide integrated, real-time insights that can shape policy, monitor progress, and improve accountability.  

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Empowering Engineers with Innovation Skills Crucial for Job Creation – Prof. Ochieng

Head of the Department of Civil and Environmental Engineering at Imperial College London, Prof. Washington Yotto Ochieng, has called for a shift in engineering education to incorporate innovation and entrepreneurship as key components for addressing unemployment and driving economic growth. Delivering a lecture on the theme “Building Sustainable Smart Cities on Resilient Digital Infrastructure” during day one of the 2026 Aggrey-Fraser-Guggisberg Memorial Lectures at the University of Ghana, Prof. Ochieng stressed that universities must move beyond traditional technical training and empower engineering students with the skills needed to develop start-ups and commercially viable innovations. According to him, nurturing an entrepreneurial mindset among engineers will enable graduates to translate research and technological knowledge into practical solutions that address societal challenges while contributing to economic productivity and job creation. “We must also educate our engineers to be innovative and entrepreneurial,start-ups and things like that,because the future is the youth. If the youth are very well educated, with total education and informed by research and innovation, then I think we will get what we need, including the creation of jobs and so on,” he stated. Prof. Ochieng further noted that investment in research-driven education is critical to building a generation of professionals capable of developing resilient digital systems and infrastructure needed for modern cities. He explained that such systems will play an increasingly important role in supporting urban development, efficient service delivery, and sustainable economic activity. The Aggrey-Fraser-Guggisberg Memorial Lectures, hosted annually by the University of Ghana, honour three individuals whose contributions significantly shaped education and infrastructure development in the Gold Coast namely James Kwegyir Aggrey, Alexander Fraser, and Gordon Guggisberg. This year’s lecture places strong emphasis on the intersection between digital infrastructure, innovation ecosystems, and urban development.

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SEC Admits 11 Firms into Virtual Asset Regulatory Sandbox

The Securities and Exchange Commission Ghana (SEC) has announced the admission of eleven virtual asset service providers into its regulatory sandbox as part of efforts to operationalise the Virtual Asset Service Providers Act, 2025 (Act 1154). According to the Commission, the sandbox will allow the selected firms to pilot their virtual asset products and services in a controlled environment under regulatory supervision for a period of twelve months. After the first six months, companies whose services meet regulatory requirements and are market-ready may transition to activity-based licensing or registration, while those still developing their products may continue testing for the remaining six months. The SEC noted that the initiative aims to promote responsible innovation while ensuring investor protection, market integrity, and compliance with anti-money laundering and counter-terrorism financing standards. The pilot will also help the Commission gather insights to develop detailed licensing guidelines for virtual asset service providers. The companies admitted into the sandbox include Africoin, Blu Penguin, Goldbod, HanyPay, Hyro Exchange GH Ltd, HSB Global, KoinKoin, Whitebits, Vaulta, XChain, and BSystem Ltd.

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NIC Reaffirms Commitment to Risk-Based Capital Framework

The Head of the Actuarial Department at the National Insurance Commission (NIC) , Kwabena Osei-Mensah has reaffirmed the Commission’s commitment towards implementing a robust risk-based capital framework as Ghana positions itself to become the insurance hub of the Economic Community of West African States (ECOWAS) sub-region. Speaking during a recent webinar by Deloitte Ghana on the theme “Risk-Based Capital in Ghana: Readiness, Reality and the Road Ahead,”, Osei-Mensah, highlighted that the move forms part of broader efforts aimed at aligning the country’s insurance sector with global regulatory standards, while also improving its competitiveness and attractiveness to investors. He added that the framework is expected to strengthen the financial resilience of insurance companies. “Ghana is looking to be a hub, an insurance hub, so aligning with global standards is our mantra, to be able to attract, I would say, investors, stabilise the market. I think one big thing is risk consciousness on the market, so the risk-based capital is really to drive that, so we have a very stable market, efficient use of capital also within the market to drive growth, and you know, when you have a stable market and confidence breathing in the market, you will have investors coming, insurance penetration should go up” Mr. Osei-Mensah also outlined steps already taken by the regulator to advance the initiative. These include engagements with industry stakeholders through working groups, consultations with insurance companies, and the collection of data from volunteer firms to support the development of the framework. He noted that the Commission has also conducted a mini quantitative impact study using the submitted data to assess how the risk-based capital framework could affect the insurance industry. “So from the NIC’s perspective, this is a very exciting time, it sits right at the heart of the Commission’s objective, which is to grow the market in surety, so we are here today to help the journey. From our perspective, we have had a touchdown with the market, we’ve had a series of industry working group connects, that’s happened, this happened before my time, but I have seen one also happen during my time, we have gone on to collect data from volunteering companies, and we have had what you will call a mini-quantitative impact study in issuing this, in coming to this risk-based capital framework.” The NIC has been working to modernise Ghana’s insurance regulatory regime as part of efforts to support the country’s ambition of becoming a regional insurance hub within ECOWAS.

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MIIF CEO Urges Women in Finance to Lead with Resilience and Innovation

The Chief Executive Officer of the Minerals Income Investment Fund (MIIF), Justina Nelson, has called on women leaders in the financial services sector to embrace resilience, discipline, and innovation as tools for transforming adversity into sustainable organisational and national value. Speaking at the maiden Women in Finance Summit held in Accra under the theme “Turning Obstacles into Gold: Unlocking Resilience and Leadership in Finance,” Justina Nelson stated that difficult moments should strengthen rather than weaken leaders. She stressed that resilience enables women in leadership to remain focused and deliver lasting impact even under pressure. Mrs. Nelson added that her appointment as Chief Executive Officer of the Minerals Income Investment Fund (MIIF) coincided with significant institutional changes, including amendments to the MIIF Act which reduced the Fund’s statutory share of mineral royalties from 77.6 per cent to 2 per cent, alongside a change in political administration. According to her, such circumstances could easily be perceived as setbacks, but leaders who remain steady under pressure are better positioned to make sound decisions and guide their institutions through complexity. “These circumstances could easily have been perceived as setbacks. However, leaders who remain steady under pressure are better positioned to make sound decisions, inspire confidence, and guide their institutions through complexity,” she noted. Mrs. Nelson also touched on the mandate of the Minerals Income Investment Fund (MIIF) to maximise value from Ghana’s mineral resources for both present and future generations. She highlighted recent institutional reforms at the Fund, including the strengthening of governance systems, clarification of organisational roles, and the integration of risk management, compliance, and environmental, social and governance (ESG) considerations, which she said have been key to building a resilient and credible institution. Mrs. Nelson disclosed that these reforms have translated into growth, with MIIF recording its highest growth in royalty inflows since its inception, despite ongoing macroeconomic adjustments and currency appreciation. Touching on the government’s RESET Agenda, she urged financial sector leaders to look beyond financial returns and focus on broader national impact, including sustainability, intergenerational equity and community value creation. “The true test of leadership is not performance in stable times, but focus, clarity and character under extreme conditions,” she stated. The Women in Finance Summit brought together stakeholders across the financial services sector to celebrate women’s leadership, share experiences and explore strategies for strengthening resilience and promoting inclusive leadership in finance. Source: Minerals Income Investment Fund (MIIF)

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Constitutional Review Findings Fall Short on Economic Concerns-Dr John E.Baiden

Legal practitioner Dr John E Baiden has expressed his disappointment with some findings made by the 2025 Constitution Review Committee, arguing that the recommendations appear to pay little attention to key economic issues affecting citizens. Passing on his remarks as the Chairman of the Public Lecture organized by the School of Communication Studies of Wisconsin International University College on the 2025 Review of Ghana’s Constitution: Findings and the Way Forward, Dr Baiden stated that the committee’s findings seemed to focus more on non-economic matters while overlooking the economic challenges that many Ghanaians face. According to him, the growing disconnect between citizens and the constitution is largely rooted in economic conditions rather than purely legal or political issues. He emphasized that one of the most pressing economic concerns is the stability of the country’s currency, noting that a stable currency is central to economic growth and public confidence in the system. “ And my disappointment also is that the findings appear to be short or rather short on economics.I mean it’s more on non-economic matters. But you see the disconnect between the constitution and the people’s feeling is economic. The economy’s central challenge is the lack of a stable currency, and that really should be our focus,” he said. He also questioned the extent of public engagement carried out by the committee, stating that he and many others did not feel the committee’s presence in their communities during the consultation process. “I’m a bit disappointed in the findings. I don’t really know where the committee was meeting. I never felt your presence in my area, and I’m sure many people feel the same way,” he remarked. The legal practitioner also raised concerns about what he described as excessive taxation in the country, particularly at the ports. He argued that importers are often confronted with numerous taxes and levies that are compounded, making business operations difficult. “It looks like in this country we are overly taxed. Even at our ports, if you try to bring something in, you go through about 30 tax gates, and all these are compounded. These are issues affecting our survival and our future,” he stated. He further stressed the importance of supporting small businesses, explaining that economic growth and national prosperity are often driven by small and medium enterprises. He therefore called on government to provide stronger institutional support for entrepreneurs. The 2025 Constitution Review Committee has been tasked with reviewing Ghana’s 1992 Constitution and making recommendations aimed at strengthening the country’s democratic governance and institutional framework.

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Mahama Commissions World’s Largest Calcined Clay Cement Plant in Ghana

President Mahama has commissioned the World’s largest Calcined Clay plant here in Ghana to reduce the amount of clinker used in cement production The facility which was commissioned on Thursday, 5th March ,2026 in Tema will see to the reduction of carbon emissions by providing an alternative to traditional clay based cement production which accounts for about 8% of global carbon dioxide emissions while maintaining the strength and quality required for more than construction. Speaking at the event, President Mahama stated that the project which has already created 109 direct jobs is expected to cut the country’s import reliance by more than 10% and boost local production while also retaining more value with the local economy. “ This innovation marks a significant advancement for both industrial growth and environmental responsibility.Traditional clay based cement production accounts for about 8% of global carbon dioxide emissions,making it one of the most carbon intensive industrial processes.By introducing limestone calcined clay cement technology, this facility significantly reduces carbon emissions while maintaining the strength and quality required for more than construction. Even more importantly, this innovation enables us to replace large amounts of imported clinca with locally sourced Ghanaian clay processed and refined right here in Ghana. This means that we have lower production costs,we have reduced import dependency and we have more value retained within the Ghanaian economy.” The president also added that the project will not only serve domestic production and consumption but will also position Ghanaian cement to compete effectively in regional markets and also support the country’s accelerated export development program. “ I’m advised that the cement produced here will comply with the rules of origin requirements of the African continental free trade area because of the amount of local material that is included in the production. This positions Ghanaian cement to compete effectively in regional markets and support our accelerated export development program. Through such investments Ghana is not merely producing for domestic production and consumption. We’re establishing industries capable of serving the entire African market.” He added that the facility has also been designed to operate within the 24 hour economy framework. “This facility has been designed to operate continuously 24 hours a day, seven days a week, 365 days a year. It therefore is very symbolic of our 24-hour economy policy, which aims to optimize productivity, increase employment, and unlock Ghana’s full industrial capacity.” President Mahama then stated the government in partnership with the private sector is set to rehabilitate the entire Tema Industrial Zone to make the facility worthy of its name. “ I’m also happy to inform you that we’re going to rehabilitate the entire thermal industrial zone in partnership with the private sector. We’re going to re-engineer the roads, the drains, the water waste treatment plants, and everything. All the partners have already signed an MOU. And so soon you’re going to see very good improved roads, good drainage system, waste treatment plants, and everything to make Ghana’s industrial area worthy of its name. To the young men and women working in this facility, thank you.” The facility which was constructed by Heidelberg Materials in partnership with CBI Ghana Ltd is a $110 million USD investment with an annual capacity of 1.5 million tonnes of environmentally friendly calcined clay cement .

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NPA Bans Selective Fuel Discounts, Orders Uniform Prices Across OMC Stations

The National Petroleum Authority (NPA), has directed oil marketing companies to charge the same fuel prices at all stations within their networks beginning March 16, 2026, effectively ending the practice of selling fuel at discounted rates at selected outlets. The move follows a petition by former Power Minister Kwabena Donkor, who argued that the selective discount schemes introduced by some companies undermined Ghana’s uniform pricing framework and placed consumers in lower-volume regions, particularly in northern parts of the country, at a disadvantage. Under the updated Petroleum Products Pricing Guidelines, all Oil Marketing Companies (OMCs) and LPG Marketing Companies (LPGMCs) must ensure that the pump price at every station corresponds exactly with the price submitted to the regulator. This means companies will no longer be allowed to reduce prices at certain outlets while charging higher rates at others. To improve transparency, the NPA says it will begin publishing all ex-pump prices submitted by OMCs on its official platform, allowing the public and regulators to easily detect any breaches of the directive. The authority has scheduled a meeting with industry stakeholders on March 11 to clarify details of the revised guidelines before they take effect. It also plans to strengthen monitoring across fuel stations, including checks on product quality. Companies that fail to comply risk facing sanctions. The decision brings an end to discount programmes that had gained momentum earlier this year. For consumers, the new directive means the disappearance of the lowest pump prices currently offered at discounted stations. As of the March 1–15 pricing window, petrol sells at a minimum of GH¢10.46 per litre, while diesel is priced at GH¢11.42 per litre.  

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GRA Arrests Nine Public Officers Over Undeclared Tramadol at Tema Port

The Ghana Revenue Authority (GRA) has arrested nine public officers following the interception of a large consignment of undeclared Tramadol at the Tema Port. The officers, who are currently on Police inquiry bail, include five Customs officers, one officer from the Narcotics Control Commission, one Port Security officer, one Energy Commission officer, and one Standards Authority officer. According to the GRA, the seizure occurred on February 26, 2026, after an operation led by the Preventive Unit of the Customs Division. The exercise resulted in the interception of a container loaded with 299 cartons containing 146,932,000 tablets of undeclared Tramadol Hydrochloride. The Authority further disclosed that the importer and declarant have been handed over to the Police to assist with ongoing investigations, while the seized consignment remains under Customs control. The GRA reaffirmed its commitment to safeguarding national security, protecting public health, and preserving the integrity of Ghana’s revenue and border management systems.