The Chamber of Oil Marketing Companies (COMAC) has expressed serious concerns regarding the government’s newly approved GH¢1 fuel levy. The Chamber warns that this levy could drive numerous downstream petroleum businesses towards insolvency and hinder the country’s clean energy objectives. In a press release dated 4th June 2025, COMAC voiced its apprehension over the recent...

Ghana has achieved a significant milestone in its efforts to strengthen the cedi and build reserves, earning over $1.1 billion in foreign exchange from the purchase and sale of more than 11 tonnes of gold. This accomplishment comes just one month after the Goldbod initiative commenced full operations. Key Highlights – *Boosting Foreign Exchange Reserves*:...

Ghanaian cocoa farmers are renewing calls for the government to guarantee them at least 70% of the Free-On-Board (FOB) price of cocoa—arguing that anything less continues to undervalue their pivotal role in the global cocoa supply chain. The renewed push follows a recent assurance by President John Dramani Mahama, who, during a Thank You tour...

The Ghanaian cedi is expected to maintain its relative stability in the coming weeks, supported by the anticipated disbursement of $370 million from the International Monetary Fund (IMF) later this month. This amount represents the fifth tranche of Ghana’s $3 billion Extended Credit Facility and follows the successful fourth review of the country’s economic reform...

Fuel prices in Ghana are anticipated to decrease by between five and nine per cent in the next pricing cycle, as forecasted by the Africa Sustainable Energy Centre (ASEC). This expected reduction is primarily linked to the recent strengthening of the Ghanaian cedi against the US dollar. Ghana’s fuel pricing system operates on a biweekly...

President John Dramani Mahama has deemed the call from certain Ghanaians for the US dollar to be valued at GH¢1 as impractical. He cautioned that such a significant appreciation of the cedi could have detrimental effects on Ghana’s export sector. “Some people say it will come to GH¢1 to $1. No, that’s extreme. We’ll eventually...

Ghana’s mobile money ecosystem is experiencing a significant resurgence, marked by a surge in transactional activity following the removal of the controversial Electronic Transaction Levy (E-Levy).  According to the latest summary of economic and financial data published by the Bank of Ghana, the total value of mobile money transactions reached a record GHC 365 billion...

Ghana’s national currency, the cedi, has demonstrated a remarkable recovery in the foreign exchange market, achieving unprecedented gains against its primary trading currencies. As reported in the latest Summary of Economic and Financial Data published by the Bank of Ghana (BoG) in May 2025, the cedi has strengthened by 24.1% against the US dollar, 16.2%...