Thursday, April 16

Business

UBA Appoints Juliana Asare as Chief Finance Officer
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UBA Appoints Juliana Asare as Chief Finance Officer

Juliana Asare is a distinguished finance executive and transformational leader, currently serving as the Chief Finance Officer of UBA Ghana, where she makes history as the first woman to hold this role. With over two decades of progressive banking experience across Ghana and Sierra Leone, she brings a unique blend of strategic insight, technical expertise, and pan-African leadership to the Bank.Juliana is a Fellow of the Association of Chartered Certified Accountants (ACCA) and a member of both the Institute of Chartered Accountants, Ghana and Sierra Leone, as well as a certified Treasury Operations professional (ACI). She holds a First-Class Honours degree in Psychology from the University of Ghana and an MBA in Finance from GIMPA, complemented by certification in Green and Sustainable...
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Ghana Warns Underperforming SOEs: Improve or Face Dissolution
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Ghana Warns Underperforming SOEs: Improve or Face Dissolution

Ghana’s Ministry of Finance has issued a strong warning to State-Owned Enterprises (SOEs), signaling tough measures against persistent underperformance as part of the government’s economic reset agenda. Speaking on behalf of the Finance Minister, Dr. Cassiel Ato Forson, the Deputy Minister, Thomas Nyarko Ampem, stressed that loss-making SOEs will no longer be tolerated. Addressing stakeholders at a high-level meeting themed “Leveraging Public Assets for Shared Prosperity,” Mr. Ampem said the government has created a stable economic environment, leaving underperforming entities with “no excuses” for inefficiency. He reiterated the position of John Dramani Mahama, noting that SOEs failing to deliver value will face restructuring, mergers, privatization, or outright closure. The meas...
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Ministry of Finance Launches PFM Compliance League Table to Boost Accountability
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Ministry of Finance Launches PFM Compliance League Table to Boost Accountability

The Ministry of Finance has introduced a Public Financial Management (PFM) Compliance League Table as part of efforts to strengthen transparency, fiscal discipline, and accountability in the management of public resources. The initiative, described as a landmark step, fulfills the government’s commitment outlined in the 2025 Budget Statement to publish an objective and evidence-based assessment of how public institutions comply with the Public Financial Management Act, 2016 (Act 921), its regulations, and related laws. According to the Ministry, the League Table serves as a performance benchmarking tool that measures how well public institutions adhere to established rules and procedures governing the use of public funds. By ranking institutions based on their compliance levels, t...
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World Bank MD Praises Ghana’s Finance Minister on Economic Progress During First Africa Visit
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World Bank MD Praises Ghana’s Finance Minister on Economic Progress During First Africa Visit

The Managing Director and Chief Knowledge Officer of the World Bank, Paschal Donohoe, has commended Cassiel Ato Forson for what he described as significant improvements in Ghana’so national finances. The praise came during a high-level meeting between the two officials, held as part of Mr. Donohoe’s first official visit to Africa. The discussions focused on Ghana’s ongoing economic transformation and the next phase of its development agenda. Dr. Forson explained that over the past year, the government has concentrated on resetting the economy and steering it toward a more sustainable path. He noted that while considerable strides have been made in stabilising the economy, unemployment—especially among the youth—remains a major concern. According to the Finance Minister, Ghana’s gr...
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Finance Minister Bans Land Transit of Selected Goods to Protect Government Revenue
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Finance Minister Bans Land Transit of Selected Goods to Protect Government Revenue

The Minister for Finance, Cassiel Ato Forson, has directed the Ghana Revenue Authority (GRA) to immediately implement new measures aimed at tightening border controls and safeguarding government revenue. The directive was issued following a high-level meeting between the minister, the Acting Commissioner of Customs, Mr. Aaron Akanor, and the management of the Customs Division of the GRA to review recent developments at Ghana’s borders. As part of the measures, the Finance Minister has ordered an immediate ban on the land transit of selected goods, directing that the affected products must be routed exclusively through Ghana’s seaports. Under the new directive, the listed goods will no longer be allowed to enter or transit through the country via land borders. The products affected...
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Ghana Signs Debt Restructuring Agreement with Belgium, Marks Eighth OCC Deal
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Ghana Signs Debt Restructuring Agreement with Belgium, Marks Eighth OCC Deal

Ghana has signed a new debt restructuring agreement with the Kingdom of Belgium, marking a significant milestone in the country’s ongoing external debt recovery programme.In a statement issued after the signing ceremony, Finance Minister Cassiel Ato Forson said the agreement forms part of Ghana’s broader efforts to stabilise the economy following the severe financial crisis that hit the country between 2022 and 2023.From Crisis to RecoveryGhana endured one of its most challenging economic periods in recent history during 2022–2023, when mounting fiscal pressures and external shocks forced the government at the time to declare a debt default. The crisis triggered high inflation, currency instability, and significant hardship for households and businesses across the country.According to Dr. ...
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Government Pays GH¢10 Billion DDEP Interest, Boosts Investor Confidence
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Government Pays GH¢10 Billion DDEP Interest, Boosts Investor Confidence

The Government of Ghana has paid GH¢10 billion in interest obligations under the Domestic Debt Exchange Programme (DDEP), signalling continued commitment to fiscal stability and debt restructuring efforts. Announced in Accra on Wednesday, 18 February 2026, the payment represents the sixth coupon settlement under the programme and marks the second full cash payment made without any Payment-In-Kind component. Officials say this reflects improved fiscal strength and growing solvency. The settlement covers coupon obligations on cedi-denominated domestic debt instruments in line with the restructuring memorandum and the government’s broader debt management and fiscal consolidation strategy. Economists note that the timely payment sends a positive signal to both domestic and internation...
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Ghana Announces Cocoa Sector Reforms to Ensure Financial Stability and Fair Farmer Pricing
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Ghana Announces Cocoa Sector Reforms to Ensure Financial Stability and Fair Farmer Pricing

The Ministry of Finance has announced a series of major reforms aimed at strengthening the cocoa sector, ensuring fair producer prices, and securing long-term sustainability for one of Ghana’s most important export industries. The measures were approved by Cabinet under the government of the Republic of Ghana. Immediate Relief for Farmers As part of the reforms, Cabinet has directed the COCOBOD to immediately settle outstanding payments owed to cocoa farmers. The move is intended to provide financial relief to affected farmers while restoring confidence in the cocoa purchasing system. Planned Legislative Changes Government plans to present a new cocoa sector bill to the Parliament of Ghana. The proposed law will introduce an automatic adjustment mechanism for cocoa producer pri...
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Saudi Arabia to Host World Economic Forum Global Collaboration and Growth Meeting: Building Common Ground and Reviving Growth on 22-23 April 2026
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Saudi Arabia to Host World Economic Forum Global Collaboration and Growth Meeting: Building Common Ground and Reviving Growth on 22-23 April 2026

Saudi Arabia will host the World Economic Forum (WEF) Global Collaboration and Growth Meeting: Building Common Ground and Reviving Growth in Jeddah on 22-23 April 2026, it was announced on the closing day of the 56th Annual Meeting of the Forum in Davos, Switzerland. His Excellency Faisal F. Alibrahim, Saudi Arabia’s Minister of Economy and Planning today confirmed the details for the regular high-level WEF meeting, which was announced at the 2025 WEF Annual Meeting. Calling for pragmatism and collaboration against a backdrop of geopolitical fragmentation, HE Alibrahim said “stability can’t be quickly built, and it can’t be bought”. “Stability needs to be founded, nurtured, protected, reinforced, and guided. Stability is non-negotiable,” he ...
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Mahama Administration Settles US$1.47bn Energy Debt, Reinstates World Bank Guarantee Within One Year
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Mahama Administration Settles US$1.47bn Energy Debt, Reinstates World Bank Guarantee Within One Year

The Government of Ghana, under the leadership of President John Dramani Mahama, has cleared a significant portion of legacy energy sector debt, paying approximately US$1.47 billion in 2025 to stabilise the sector and restore international confidence. Upon assuming office in January 2025, the Mahama Administration inherited an energy sector under severe strain, marked by years of non-payment for gas supplied from the Offshore Cape Three Points (OCTP) field. The situation had resulted in the complete depletion of a US$500 million World Bank Partial Risk Guarantee (PRG), a facility established in 2015 to backstop payments to Sankofa Gas Project partners ENI and Vitol and unlock nearly US$8 billion in private investment. Government sources say the exhaustion of the PRG had undermined Gha...
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