Monday, February 9

Business

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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FSC sets reform agenda for financial stability 
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FSC sets reform agenda for financial stability 

The Financial Stability Council (FSC) has concluded its final meeting for 2025, outlining reforms to strengthen the resilience and transparency of Ghana’s financial sector.   At its 25th high-level session, the Council agreed on interventions to safeguard financial stability and boost market confidence, including measures to deepen capital markets and strengthen oversight.   Key among the decisions was a push to encourage the listing of banks on the Ghana Stock Exchange, with agreed modalities aimed at improving transparency, enforcing market discipline and expanding market depth.   The FSC also finalised a Memorandum of Understanding with the Ghana Statistical Service for the collection of real estate market data, beginning in 2026, to support t...
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BoG authorises FX brokers and cross-border providers for 2026  
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BoG authorises FX brokers and cross-border providers for 2026  

The Bank of Ghana has authorised 12 foreign exchange brokers and three cross-border payment providers to operate in the Ghana Interbank FX market in 2026.   The authorisation is in line with Section 3.13.1 of the Ghana Interbank Forex Market Conduct Rules, which requires local and international FX brokers to obtain annual approval to operate in the market.   The newly authorised FX brokers are IC Securities, SIC Brokers, Serengeti Limited, Sarpong Capital, Terika Financial Services Limited, Savvy Africa, GFX Brokers, Regulus, MB&CO Capital Limited, ICAP, Obsidian Achernar and TAW Impact Capital.   Crown Agents Bank, CSL Capital and StoneX Financial Limited have also been authorised to operate as cr...
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Reset and Resilience: Ghana’s economic path under President Mahama  
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Reset and Resilience: Ghana’s economic path under President Mahama  

President John Dramani Mahama’s administration began an economic reset in 2025 amid high inflation and currency volatility, anchored on consultations, fiscal reforms and targeted social interventions.   The year was characterised by consultative policymaking, fiscal rebalancing, and the rollout of social and infrastructure programmes, which contributed to improved macroeconomic indicators, amid cautions over persistent external vulnerabilities.   President Mahama was sworn into office on January 7, 2025, inheriting an economy facing elevated inflation, currency pressures and growth driven largely by public spending, signalling the need for a shift towards sustainable, private-sector-led expansion.   By the end of 202...
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Government of Ghana Settles US$709 Million Eurobond Obligation Ahead of Schedule
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Government of Ghana Settles US$709 Million Eurobond Obligation Ahead of Schedule

The Government of Ghana has successfully settled a US$709 million Eurobond obligation, making the payment on 30 December 2025 ahead of its due date, in a move seen as a major boost to the country’s economic recovery and debt management efforts.According to the Ministry of Finance, the latest payment brings Ghana’s total Eurobond payments for 2025 to US$1.4 billion under the ongoing debt restructuring memorandum. The amount comprises three separate payments of US$349.52 million, US$349.52 million, and US$709 million made to Eurobond holders within the year.The timely settlement, the Ministry noted, reaffirms Ghana’s credibility as a sovereign borrower and demonstrates government’s commitment to restoring investor confidence through transparent, predictable, and disciplined debt-service prac...
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Ghana Introduces Major VAT Reforms Under New VAT Act, Effective January 2026
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Ghana Introduces Major VAT Reforms Under New VAT Act, Effective January 2026

The Government of Ghana has announced sweeping reforms to the country’s Value Added Tax (VAT) system following the passage of the Value Added Tax Act, 2025 (Act 1151). The new law, which takes effect on January 1, 2026, is aimed at simplifying VAT administration, reducing the tax burden on businesses and households, and improving voluntary tax compliance. In a notice issued to all VAT-registered taxpayers and the general public, the Ghana Revenue Authority (GRA) outlined several key changes under the new Act. One of the major reforms is an increase in the VAT registration threshold for businesses dealing in goods. The threshold has been raised significantly from GH¢200,000 to GH¢750,000, a move expected to reduce compliance pressure on small and medium-sized enterprises. The Act a...
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BoG exempts informal cross-border traders from LOC requirement   
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BoG exempts informal cross-border traders from LOC requirement   

The Bank of Ghana has exempted informal cross-border traders from the requirement to obtain a Letter of Commitment (LOC).    In a public notice, the Bank outlined guidelines on the use of the LOC for exports, stating that traders engaged in informal cross-border transactions are not required to secure the document.    The guidelines indicated that the LOC, generated through the Integrated Customs Management System (ICUMS), is mandatory only for formal exporters who receive foreign exchange proceeds, are resident in Ghana, are licensed by relevant government agencies, and hold a valid Tax Identification Number.    It explained that traders conducting business with buyers from neighbouring countries such as Côte d’Ivoire, T...
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Ghana’s economy highly sensitive to gold prices- IMF   
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Ghana’s economy highly sensitive to gold prices- IMF   

A newly released International Monetary Fund (IMF) report says  Ghana’s economic stability is sensitive to fluctuations in global gold prices.    The analysis underscored that the country’s macroeconomic outlook is highly sensitive to changes in gold prices and ensuing exchange rate movements, given that gold is Ghana’s largest export and main source of foreign exchange.   The IMF's detailed Risk Assessment Matrix revealed landscape where external shocks and domestic vulnerabilities intersect.    A specific adverse scenario analysis suggests that a potential drop in gold prices of about 30 percent by end-2026 which could see prices fall to around US$2,820 per ounce would significantly lower gold exports, reduce foreign exchange inflows, and ...
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Social Development Bank Highlights Strategic Partnerships and Global Initiatives at DeveGo 2025
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Social Development Bank Highlights Strategic Partnerships and Global Initiatives at DeveGo 2025

The forum held in Riyadh witnessed the signing of 51 agreements aimed at strengthening the entrepreneurial ecosystem The Social Development Bank (SDB) hosted the second edition of the Entrepreneurship and Modern Business Practices Forum, “DeveGo 2025”, from 21 to 23 December in Riyadh. Held under the patronage of His Excellency Eng. Ahmed bin Sulaiman AlRajhi, Minister of Human Resources and Social Development and Chairman of SDB’s Board of Directors, the forum brings together government leaders, global experts, investors, and entrepreneurs to shape the future of entrepreneurship and modern business practices in the Kingdom of Saudi Arabia. Opening the forum, Minister Al Rajhi delivered a keynote speech on the growing vibrancy of Saud...
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