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Gov’t loses over GH¢600m in taxes from unaccounted petroleum products
Government lost more than GH¢600 million in tax revenue in 2025 due to 199 million litres of unaccounted petroleum products, according to the 2025 Petroleum Product Analysis Report, sighted by Joy Business. The lost revenue was expected to accrue to the state through taxes, levies, and other regulatory charges on petro...
African banks could be affected in prolonged Iran war; central banks may tighten policy rate – Fitch
Again, the worsening terms of trade and the potential for reduced foreign investor appetite could pressure some currencies. However, Morocco, Tunisia, WAEMU and the Economic and Monetary Community of Central Africa (CEMAC) have managed exchange rates that reduce depreciation risks.
BoG warns against weak financial market documentation
The Bank of Ghana (BoG) has warned that weak legal documentation and poor risk management practices could undermine confidence in Ghana’s growing financial markets if urgent steps are not taken to strengthen market systems. First Deputy Governor of the Bank of Ghana, Dr. Zakari Mumuni, says the country’s financial sect...
Mahama announces plans to rehabilitate Pwalugu tomato factory
President John Dramani Mahama has announced plans to rehabilitate the Pwalugu Tomato Factory in the Upper East Region as part of government’s efforts to boost tomato production and expand agro-processing. The President said the factory would become a major processing hub for tomatoes produced under an expanded cultivat...
NLA warns lotto operators against paying commissions above approved 25% rate
The National Lottery Authority has directed all Lotto Marketing Companies, private lotto operators, collaborators, and licensees to strictly comply with the approved 25 percent commission rate for retailers and agents. In a statement issued on May 15, 2026, the Authority said it had observed that some operators were pa...
Royal Gold Refinery Limited pledges to align with government’s 24-Hour Economy vision
Royal Gold Refinery Limited has pledged to align its operations with the government’s 24-Hour Economy vision to boost gold processing and create more jobs. The Chief Executive Officer of Royal Gold Refinery Limited, Eric Frimpong Santeng, said the 24-hour model would expand opportunities for young Ghanaians seeking ful...
NPA reduces price floor from August 16, petrol to sell at GH¢ 13.92, diesel pegged at GH¢ 15.19
This represents more than a 4.1% cut in the benchmark for setting prices of petroleum products, as agreed with industry players. It also means the price of petrol has been reduced by GH¢ 0.61.
MPC opens 130th meeting to review Ghana’s economy
The Monetary Policy Committee (MPC) of the Bank of Ghana has commenced the 130th meeting to consider the health of the economy and also make a decision on the policy rate, which currently stands at 14.0 percent. Speaking at an opening meeting, Governor, Dr. Johnson Asiama charged the committee to consider policies that...
Liverpool owner FSG seals £1.65bn sale of 30% stake to consortium including Jeff Bezos
Confirmed deal values club as a whole at £5.5bn Amit Bhatia will become clubâs new vice-chairman Liverpoolâs owner, Fenway Sports Group, has confirmed it has agreed the sale of 30% of the club to a consortium including Amit Bhatia, the Amazon founder Jeff Bezos and the Facebook co-founder Eduardo Saverin. The deal...
Gov’t could lose nearly GH¢500m a month for every GH¢1 cut from fuel taxes
Cabinet has directed the suspension of some taxes, levies and margins on petroleum products in response to rising crude prices following the US–Israel–Iran conflict. Announcing the decision, the Minister for Government Communications said the move is intended to reduce the burden on consumers as fuel prices respond to...
Plastic manufacturers oppose 2027 Styrofoam ban, plead with Mahama for extension to 2030
The Ghana Plastic Manufacturers’ Association (GPMA) has strongly opposed the Environmental Protection Authority’s planned ban on Styrofoam products, warning that the January 2027 deadline could trigger a financial crisis, widespread job losses, and undermine the government’s industrialisation agenda. In a press stateme...
Ghana loses $78 million in health funding after USAID programme closures — Mahama
Ghana has suffered a $78 million shortfall in its health sector following the closure of programmes previously supported by United States Agency for International Development, President John Dramani Mahama said on Monday, warning of mounting pressure on healthcare systems across Africa. Speaking at the World Health Ass...