Digital economy key to Africa’s future: World Economic Forum
The 2025 World Economic Forum (WEF) has underscored the pivotal role of digitalisation in Africa’s economic transformation, declaring the digital economy as indispensable for the continent’s development. During a four-day summit, attended by over 60 world leaders and global economic giants, discussions centred on pressing global issues such as economic growth, climate change, and emerging […]
Peasant farmers urge Agric Minister-designate to reform sector with irrigation systems
The Peasant Farmers Association of Ghana (PFAG) has called on the Minister-designate for Food and Agriculture, Eric Opoku, to prioritise the development of robust irrigation systems to combat the growing effects of climate change on agriculture. National president of PFAG, Wepia Adugwala believes sustainable food production in Ghana can no longer rely on traditional rain-fed […]
Energy sector debate heats up — Jinapor’s ECG privatisation plans faces Union backlash
A fresh clash over the future of Ghana’s power distribution sector has emerged as Energy Minister-designate John Abdulai Jinapor’s plans for private sector participation in the Electricity Company of Ghana (ECG) met immediate resistance from the Public Utility Workers’ Union (PUWU). While Jinapor outlined plans for a seven-member committee to explore privatization options during his […]
Fitch optimistic about Ghana’s banking sector recovery amid robust earnings
Fitch Ratings has expressed optimism about the recovery of Ghana’s banking sector, citing strong profits and improved capitalisation after the challenges brought on by the Domestic Debt Exchange Programme (DDEP). The ratings agency forecasts a brighter outlook for the sector as economic stabilisation efforts gain momentum. In its latest report, Fitch highlighted the critical role […]
‘Energy sector faces ‘systematic decimation,’ needs urgent fix’ – ACEP’s Ben Boakye to Mahama
The Executive Director of the Africa Centre for Energy Policy (ACEP), Benjamin Boakye, has concerns about the dire state of Ghana’s energy sector, describing it as a sector “systematically decimated” by mismanagement and inefficiencies. In an opinion piece addressed to President-elect John Mahama, he outlined the critical challenges that demand immediate action to prevent further […]
Ghana’s economy grows by 7.2 per cent in 2024 Q3
Ghana’s economy grew by 7.2 per cent in the third quarter of 2024, marking a significant recovery compared to the 2.2 per cent growth recorded during the same period in 2023, according to data released today by the Ghana Statistical Service. The growth is the strongest since pre-pandemic levels, with the last comparable performance being […]
IMF flags risks to Ghana’s economic stability amid encouraging recovery
The International Monetary Fund (IMF) has completed the third review of Ghana’s $3 billion Extended Credit Facility (ECF) programme, highlighting significant risks that could derail the country’s economic recovery despite recent progress. While Ghana’s performance under the programme was deemed “generally satisfactory,” the IMF in a press release cautioned that multiple vulnerabilities persist. Key risks […]
Ghana’s trade surplus shrinks amidst steady export growth
Ghana registered a trade surplus of GH₵3.9 billion in the third quarter (Q3) of 2024, marking a continuation of its trade balance gains for the year. However, this figure represents a decline from the GH₵6.1 billion surplus recorded in Q2 2024, according to the Ghana Statistical Service’s (GSS) latest quarterly report. Trade volumes and export […]
Ghana’s inflation hits six-month high driven by rising food prices
Ghana’s annual inflation rate rose to 23 percent in November, reaching a six-month high as food prices continued to surge, the Ghana Statistical Service (GSS) has announced. This marks the third consecutive monthly increase in inflation, up from 22.1 percent in October and driven predominantly by rising costs of staples such as vegetables, tubers, and […]
IMF approves $360million loan disbursal for Ghana
The International Monetary Fund (IMF) Executive Board has approved the third review of Ghana’s 36-month Extended Credit Facility (ECF), paving the way for an immediate disbursement of approximately $360 million. In a statement released on December 2, the IMF lauded Ghana’s “generally satisfactory” performance under the programme, noting that the government’s reform efforts are yielding […]