Wednesday, October 29

Business

Critical investment, partnerships can build resilient human capital for Africa transformation–Minister 
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Critical investment, partnerships can build resilient human capital for Africa transformation–Minister 

Dr Abdul-Rashid Hassan Pelpuo, Minister of Labour, Jobs and Employment, says investments in critical sectors and strategic partnerships could overcome Africa's challenges and build resilient human capital for the transformation of the continent.  "Africa’s young population is one of her greatest assets for innovation, growth, and transformation.  "To turn this potential into real progress, we must equip young people with relevant education, skills, and opportunities," he said. The Minister made the call at a conference on Advancing the Next Generation for Equitable Development of Human Capital in India. "From Ghana’s perspective, human capital development is at the core of our development agenda. We see it as the pathway to harnessing our demographic dividend and building ...
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Ghana targets $12bn annual revenue from six tree crops by 2030 
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Ghana targets $12bn annual revenue from six tree crops by 2030 

Ghana has the potential to earn at least US$12 billion annually from six key tree crops by 2030, according to the Tree Crops Development Authority (TCDA).  The crops, cashew, coconut, oil palm, rubber, mango, and shea, are being positioned as major economic drivers beyond cocoa under the Authority’s Vision 2030 strategy.  “We are looking at an average of two billion dollars annually from each of these tree crops. Multiplied by six, we are talking about 12 billion dollars in revenues,” said Dr Andy Osei Okrah, Chief Executive Officer of the TCDA, in an interview with the Ghana News Agency in Accra.  “With the necessary investment, we can even go beyond this target,” he stressed.  Dr Okrah said the Authority had adopted a comprehensive strategy anchored on expansio...
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Coca-Cola reduces price of 300ml of Coke, Fanta  
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Coca-Cola reduces price of 300ml of Coke, Fanta  

The Coca-Cola Bottling Company of Ghana Limited has announced a price rollback on its 300ml Coca-Cola beverages.   The 300 ml bottles of coke and Fanta have been reduced by GH¢1.00.  The price adjustment is to ensure that more people  enjoy their favourite beverage at a more affordable price.  The company, in a statement, said the initiative was part of its ongoing commitment to delivering value to consumers under the "Share A Coke" campaign.  "Whether it’s a quick refreshment on a hot day, a companion during lunch, or a moment of connection with friends and family, the 300ml Coca-Cola is now even more affordable, making everyday moments more memorable," it said.  The Company said the move was also a reflection of its dedication to meeting consumer n...
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Bank of Ghana Warns Against Unauthorised Forex Transactions
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Bank of Ghana Warns Against Unauthorised Forex Transactions

The Bank of Ghana (BoG) has issued a stern reminder to the public and financial institutions that all unlicensed foreign exchange dealings in the country remain strictly prohibited under the Foreign Exchange Act, 2006 (Act 723). In a public notice released on Wednesday, the central bank cautioned individuals, institutions, and businesses against engaging in black market forex trading, pricing or quoting goods and services in foreign currencies—particularly the US Dollar (USD)—and conducting unauthorised payments in foreign currencies within Ghana. “The Ghana Cedi remains the only legal tender in Ghana,” the statement stressed, adding that only persons or entities licensed or authorised by the Bank of Ghana are permitted to deal in foreign exchange activities. According to the dire...
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State-Owned enterprises to transact more with state banks – Deputy Finance Minister
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State-Owned enterprises to transact more with state banks – Deputy Finance Minister

Mr. Thomas Nyarko-Ampem, the Deputy Minister of Finance, has reaffirmed government’s commitment to strengthening state-owned financial institutions, announcing that state-owned enterprises (SOEs) and covered entities will be required to transact more with state banks such as GCB Bank PLC. He said the move, directed by government as majority shareholder, was not to exclude private banks but to reinforce the capacity of national institutions to better support development priorities, including financing Micro, Small and Medium Enterprises (MSMEs). “This is not about pushing out private banks,” Mr. Nyarko-Ampem explained. “It is about building our own banks strong enough to finance national priorities, especially MSMEs, which are the backbone of our economy.” The Deputy Minister wa...
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President Mahama Signs Fisheries and Aquaculture Bill into Law
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President Mahama Signs Fisheries and Aquaculture Bill into Law

President John Dramani Mahama has assented to the Fisheries and Aquaculture Bill, 2025, ushering in a new era of governance for Ghana’s fisheries sector. The landmark legislation, now known as the Fisheries and Aquaculture Act, 2025 (Act 1146), introduces sweeping reforms designed to secure sustainability, protect livelihoods, and align the nation’s fisheries management with global best practices. The Bill, which was passed by Parliament in July 2025, is being hailed as a historic step towards building a sustainable, equitable, and economically viable fisheries sector that can meet international standards and safeguard the interests of millions of Ghanaians. Key Provisions of the Act Independent Fisheries Commission – Establishment of an autonomous body to develop, manage, and co...
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Climate-Smart Vegetable Seeds set to drive Smallholder Resilience in Sahel and West Africa
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Climate-Smart Vegetable Seeds set to drive Smallholder Resilience in Sahel and West Africa

With climate change intensifying across the Sahel and West Africa, East-West Seed, one of the world’s leading vegetable seed companies, is introducing new climate-smart vegetable seeds. These new seeds are designed to help smallholder farmers across the region adapt to erratic weather, protect yields and improve nutrition. The initiative is targeting farming communities in Northern Ghana, Northern Nigeria, and other parts of the dryland belt where rainfall patterns have become increasingly unpredictable. East-West Seed is rolling out climate-resilient, hybrid varieties of tomato okra,and amaranth developed for short growing cycles, heat tolerance and disease resistance. These varieties offer farmers, including a growing number of young entrants into agriculture, the chance to harvest...
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Bank of Ghana Bans Unbacked Foreign Currency Cash Payments to Large Corporates
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Bank of Ghana Bans Unbacked Foreign Currency Cash Payments to Large Corporates

The Bank of Ghana (BoG) has directed all banks to immediately discontinue the practice of making foreign currency (FCY) cash payments to large corporates that are not backed by equivalent FCY cash deposits. In a statement signed by Aimee V. Quashie, on behalf of the Secretary, the central bank said it had observed a growing trend where institutions such as Bulk Oil Distribution Companies, mining firms, and other large corporates were withdrawing foreign currency cash without prior deposits. According to the BoG, this practice puts avoidable pressure on the foreign exchange market and undermines ongoing efforts to stabilize the cedi. “Accordingly, with immediate effect, all banks are directed to discontinue the payment of FCY cash to Large Corporates unless such transactions are fu...
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Government Settles GH¢9.7 Billion Coupon Under Domestic Debt Exchange Programme
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Government Settles GH¢9.7 Billion Coupon Under Domestic Debt Exchange Programme

The Ministry of Finance has confirmed the successful settlement of a coupon payment worth GH¢9.7 billion under the Domestic Debt Exchange Programme (DDEP). According to the Ministry, the total payment made on Tuesday, August 19, 2025, amounted to GH¢9,698,815,220.17, pushing cumulative disbursements under the DDEP for this year alone to approximately GH¢19.4 billion. Officials say the move highlights government’s determination to honour commitments made under the Memorandum of Understanding governing the DDEP, a policy designed to restructure the country’s domestic debt. “This payment demonstrates government’s unwavering commitment to meeting its obligations under the programme,” the Ministry stated, adding that the action is expected to boost investor confidence and reinforce fis...
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Anzisha Summit Unites Forces To Empower Africa’s Next Generation of Entrepreneurs
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Anzisha Summit Unites Forces To Empower Africa’s Next Generation of Entrepreneurs

The Anzisha Entrepreneurship Education in Africa (EEA) Summit, held on 6 August 2025 at the African Leadership Academy campus, concluded with a powerful call to action for business and community leaders to support the continent's very young entrepreneurs. The event brought together policy architects, educators, investors, and business leaders to explore best practices in entrepreneurship education and celebrate the innovative strategies driving youth-led growth. In delivering the day’s closing speech, Anzisha Prize Managing Editor Didi Onwu said, “Youth entrepreneurship isn’t the backup plan, it's the blueprint. For too long we have treated entrepreneurship as plan B, the path we take when “the real” systems fail you. But today has reminded us that youth-led enterprise isn’t what hap...
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