Business – Adomonline.com https://www.adomonline.com Your comprehensive news portal Mon, 24 Nov 2025 20:05:59 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.3 https://www.adomonline.com/wp-content/uploads/2019/03/cropped-Adomonline140-32x32.png Business – Adomonline.com https://www.adomonline.com 32 32 BoG reserves hit $11.41bn as import cover nears five months — Governor https://www.adomonline.com/bog-reserves-hit-11-41bn-as-import-cover-nears-five-months-governor/ Mon, 24 Nov 2025 20:05:57 +0000 https://www.adomonline.com/?p=2603378 Ghana’s external buffers have received a significant boost, with gross international reserves rising to over US$11.41 billion, the Bank of Ghana has announced.

The Governor of the Central Bank, Dr. Johnson Asiama, revealed the latest figures at the opening of the Monetary Policy Committee (MPC) meeting, describing the development as a strong sign of improving economic stability.

According to him, the current reserve level is equivalent to 4.8 months of import cover, a performance he says positions the country more securely against external shocks.

“Our gross reserves have now exceeded US$11 billion, giving us about 4.8 months of import cover,” Dr. Asiama stated. “We are confident that by the end of the year, we will reach the five-month mark.”

The Governor noted that the build-up in reserves reflects deliberate policy actions aimed at strengthening the cedi and improving Ghana’s balance of payments position.

“These gains are not accidental,” he stressed. “They are the result of sustained efforts to stabilise the currency, manage liquidity, and improve our external sector performance.”

Dr. Asiama added that the MPC will continue to monitor economic indicators closely to ensure the momentum is maintained.

“We remain committed to safeguarding macroeconomic stability and providing guidance that supports growth while protecting the resilience we are building,” he said.

The ongoing MPC meeting is expected to assess recent economic trends and announce key policy decisions in the coming days.

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100 young people enrolled in skills training programme in Adansi https://www.adomonline.com/100-young-people-enrolled-in-skills-training-programme-in-adansi/ Mon, 24 Nov 2025 09:34:54 +0000 https://www.adomonline.com/?p=2603126 A total of 100 young people from the Adansi enclave in the Ashanti Region have been enrolled in a new skills training programme aimed at improving employability and reducing poverty in the area.

The initiative was officially launched at a matriculation ceremony for the selected beneficiaries, who will receive training in various vocational and technical fields to help them secure jobs or start their own businesses.

Speaking to Adom News after the event, Senior Manager of the Sustainability Department, Edmund Oduro Adjei, said the programme is part of efforts to address the growing unemployment challenge in Obuasi and surrounding communities.

He explained that the lack of employable skills has pushed many young people into illegal mining activities (galamsey), exposing them to risks and limiting their future prospects. The training is designed to prepare the youth for local employment opportunities as they arise. Of the 100 trainees, 48 are females while 52 are males.

Barimansu Antwi Kwanin, Adansihene Benkumhene, expressed concern about the lifestyle choices of some young people in the area. He urged those engaging in behaviours that could derail their future to turn a new leaf and take advantage of opportunities like the training programme.

The traditional leader encouraged beneficiaries to remain disciplined and committed, noting that the skills they acquire could transform their lives and contribute to the development of Adansi.

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BOG Governor leads tree-planting exercise to mark Cedi@60 https://www.adomonline.com/bog-governor-leads-tree-planting-exercise-to-mark-cedi60/ Sat, 22 Nov 2025 16:27:08 +0000 https://www.adomonline.com/?p=2602863 The governor of the Bank of Ghana, Dr Johnson Asiama, led a symbolic tree-planting exercise at the bank’s headquarters, The Bank Square, on November 20, 2025, as part of activities marking the 60th anniversary of the Ghana cedi.

The initiative forms part of the Bank’s broader environmental commitment, aiming to plant 60 trees in honour of Cedi@60, while promoting sustainability within the Bank’s operational environment.

Dr Asiama was joined by the First Deputy Governor, Dr Zakari Mumuni, senior bank officials, and staff, who collectively participated in the planting ceremony.

The event underscored the Bank’s drive to foster a greener, more resilient ecosystem and align with national environmental conservation goals.

Speaking during the exercise, Dr Asiama highlighted that the Cedi@60 celebration is not only a reflection on Ghana’s currency journey but also an opportunity to contribute meaningfully to the future.

“Planting these trees symbolises growth and our commitment to safeguarding the environment for generations to come,” he said.

The tree-planting activity reaffirms the Bank of Ghana’s dedication to sustainability, responsible stewardship, and national development as it commemorates six decades of the Ghana cedi.

In addition, the First and Second Deputy Governors, Dr Zakari Mumuni and Matilda Asante-Asiedu, planted trees at various Bank of Ghana office locations to further promote the initiative.

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2026 Budget was heavy on slogans but empty on substance – Davis Ansah Opoku https://www.adomonline.com/2026-budget-was-heavy-on-slogans-but-empty-on-substance-davis-ansah-opoku/ Sat, 22 Nov 2025 10:27:22 +0000 https://www.adomonline.com/?p=2602787 The Member of Parliament for Mpraeso, Davis Ansah Opoku, has criticised the government’s 2026 Budget Statement, describing it as “heavy on slogans but empty on substance.”

Contributing to the debate in Parliament on Friday, November 20, the Deputy Ranking Member of the Public Accounts Committee (PAC) argued that the budget failed to outline clear, measurable policy strategies to address the country’s economic challenges.

According to him, the government appeared more focused on crafting catchy expressions than on developing credible programmes capable of delivering relief to households and businesses.

He said Ghanaians were “tired of slogans that lead nowhere,” adding that the document repeated promises without showing how they would be funded or implemented.

“We expected solutions, not soundbites,” he stated.

Mr Opoku noted that beyond the rhetoric, the budget lacked concrete initiatives to stimulate growth or reduce unemployment. He stressed that key sectors such as agriculture, manufacturing, and small-scale enterprises received “minimal attention” despite their importance to economic recovery.

“A budget must reflect urgency and seriousness. What we received instead was a document full of lofty words and empty pages,” he remarked.

He further argued that the government failed to provide a transparent plan for financing major projects, especially given the limited fiscal space. The absence of detailed costings and timelines, he said, undermined public confidence in the administration’s economic management.

“Parliament cannot approve a budget that does not tell the country how programmes will be delivered or what they will cost,” he cautioned.

Concluding his contribution, Mr Opoku urged the government to revise the budget and present a more practical framework that responds to the needs of ordinary Ghanaians.

“This is not the time for branding exercises; it is the time for action,” he stressed.

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Deloitte warns Ghana must ‘ring-fence’ new borrowing https://www.adomonline.com/deloitte-warns-ghana-must-ring-fence-new-borrowing/ Sat, 22 Nov 2025 09:50:32 +0000 https://www.adomonline.com/?p=2602767 Auditing giant Deloitte Ghana has urged the government to adopt a rigorous strategy of “ring-fencing its borrowing plans” as the nation prepares its much-anticipated re-entry into the domestic bond market.

The firm warns that despite recent, hard-won successes in stabilizing the country’s debt profile, any return to undisciplined borrowing could swiftly erode gains in debt sustainability.

Deloitte’s analysis of the 2026 Budget, delivered under the theme “Resetting for Growth, Jobs and Economic Transformation”, highlights that Ghana’s improving fiscal discipline, coupled with an appreciation of the Ghana Cedi (GHS), has created a “rare opportunity to reset its debt strategy.”

This opportunity, however, is conditional on future borrowing remaining targeted, prudent, and anchored in long-term economic reforms.

The firm’s data provides a clear picture of the significant progress achieved in addressing the country’s public debt distress over the first ten months of 2025:

The Debt Stabilization Scorecard: Dec 2024 to Oct 2025

Debt CategoryDecember 2024 (GHS)October 2025 (GHS)ChangeDetails
External DebtGHS 416.8 billionGHS 319.2 billion-GHS 97.6 billion23.4% reduction. Driven by Cedi appreciation and reduced borrowing.
Domestic DebtGHS 309.8 billionGHS 311.0 billion+GHS 1.2 billion0.4% marginal growth. Driven by continued issuance of Treasury securities for budget support.
Total Public DebtGHS 726.6 billionGHS 630.2 billion-GHS 96.4 billionOverall net reduction in debt stock.

This dramatic reduction in external debt—driven primarily by the Cedi’s appreciation and strong fiscal performance—combined with the stability in domestic debt, has signaled renewed confidence among international investors, leading to credit rating upgrades from agencies like Moody’s and Fitch.

The Warning: Debt Situation Remains Delicate

Despite the positive momentum, Deloitte stresses that Ghana’s debt-to-GDP ratio and overall debt situation remain delicate and highly sensitive to external shocks or undisciplined spending.

The concept of ring-fencing, as urged by the firm, requires the government to dedicate specific revenue streams (like those from a successful project) to pay back the debt incurred for that specific project.

This mechanism is designed to isolate the new debt and prevent it from becoming a systemic burden on the national treasury.

Deloitte’s Blueprint for Prudent Borrowing

To safeguard macroeconomic stability, the auditing firm issued specific, forward-looking recommendations for the government’s debt strategy:

  1. Prioritize Concessional Financing: The government must prioritize concessional borrowing (low-interest, long-term loans) for key investments such as:
    • Large-scale infrastructure.
    • Climate-resilient projects.
    • Social development initiatives.
    • Simultaneously, the government must avoid expensive, short-term debt instruments that pose significant fiscal risks.
  2. Commercial Backing for New Bonds: Any upcoming bond issuances must be backed by clear repayment plans and projected commercial returns. This is especially crucial for State-Owned Enterprises (SOEs), whose historic debt obligations have repeatedly strained public finances.
  3. Transparency and Coordination in Buybacks: Tighter coordination between the Finance Ministry, investors, and international partners is necessary when implementing any future debt buyback operations. Deloitte stresses the importance of transparency and predictable engagement to prevent market disruptions.

Deloitte concludes that while a return to the bond market is a positive step toward normalization, its success hinges on strict fiscal adherence:

Deloitte concludes that Ghana’s planned return to the bond market can be positive, but only if borrowing is “reinforced for financing self-paying projects” and domestic interest costs are strictly controlled.

This disciplined approach, the firm argues, is the only way to safeguard the country’s hard-won macroeconomic stability and cement long-term fiscal discipline.

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2026 Budget rests on hope, not revenue – Economist https://www.adomonline.com/2026-budget-rests-on-hope-not-revenue-economist/ Fri, 21 Nov 2025 08:57:48 +0000 https://www.adomonline.com/?p=2602465 Economist Dr Adu Owusu Sarkodie says the government’s decision to abolish the Covid-19 levy will wipe out one of its strongest revenue streams and force a risky dependence on tax compliance in 2026.

Speaking on Joy News’ PM Express Business Edition, he said government is removing three major taxes at once, even though each contributed significantly to national revenue.

“In 2026 government is putting its hope on compliance,” he said, noting that the administration has already scrapped the E-Levy, which “was fetching the government around a little over ¢2 billion.”

He added that the betting tax, which was bringing in “roughly about ¢300 million,” is also gone. Now the Covid-19 levy, expected to “rake in about ¢3 billion next year,” has also been abolished.

Dr Sarkodie said the Covid-19 levy alone had become as important to government revenue as Ghana’s oil and gas royalties.

“Covid-19 was giving us almost the same amount as the total royalties from oil and gas. This year, total royalties from oil and gas are estimated to be ¢2.9 billion. Covid-19 levy will be giving us ¢2.8 billion.”

He warned that removing all three taxes will significantly reduce revenue.

“You’ve taken e-Levy ¢2 billion, we are going to take away the Covid-19 levy, another close to ¢3 billion. That’s about ¢5 billion. So that will bring down your revenue.”

However, he explained that government is convinced it can replace the revenue loss through increased compliance across the tax system.

“But the government is saying that you can raise revenue. You can increase revenue by even abolishing taxes or reducing tax rates. When you increase the base, if more people are paying, it’s better than a few people paying higher rates.”

He said government believes that lowering taxes will draw more Ghanaians into the tax net.

“So this government believes in bringing the rate down so that you get more people into the basket or the bracket to pay. That’s how they want, so it really focuses on compliance.”

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GRA deploys satellite system to enforce rental tax compliance – Commissioner-General https://www.adomonline.com/gra-deploys-satellite-system-to-enforce-rental-tax-compliance-commissioner-general/ Thu, 20 Nov 2025 19:27:51 +0000 https://www.adomonline.com/?p=2602378 Commissioner-General of the Ghana Revenue Authority (GRA), Anthony Kwasi Sarpong, has revealed that the authority has introduced a satellite-based tracking system to ensure landlords comply with rental tax obligations.

Speaking on Asempa FM’s Ekosii Sen show, Mr. Sarpong explained that under existing law, commercial properties attract a 15% rental tax, while private residential properties are taxed at 8%. Landlords are required to deduct the tax from rent paid by tenants.

He further disclosed that the GRA is collaborating with the Real Estate Agency Council to access data on rented properties across the country, a move aimed at identifying landlords who fail to pay the mandated tax.

“The law imposes a 15% tax on commercial properties and an 8% tax on private properties. Landlords are required to collect rental tax from tenants, and tenants also have the option to pay the tax on behalf of landlords through their rent. We have established a working relationship with the Real Estate Agency Council to gather information on rented properties, enabling us to ensure proper tax collection,” he said.

Mr. Sarpong noted that the new satellite system, combined with partnerships with relevant agencies, will strengthen monitoring and boost revenue from the rental sector.

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GRA to begin VAT compliance checks in markets and businesses on Monday https://www.adomonline.com/gra-to-begin-vat-compliance-checks-in-markets-and-businesses-on-monday/ Thu, 20 Nov 2025 19:21:20 +0000 https://www.adomonline.com/?p=2602368 Commissioner-General of the Ghana Revenue Authority (GRA), Anthony Kwasi Sarpong, has announced that the authority will begin visiting businesses and markets nationwide from Monday to inspect VAT compliance.

Speaking on Asempa FM’s Ekosii Sen show, Mr. Sarpong said the exercise is part of efforts to ensure that businesses issue VAT receipts and remit the tax appropriately, particularly as the festive season approaches and commercial activity increases.

“As Christmas is approaching, it’s a busy season. From Monday, we will go round to ensure VAT is being paid. We urge everyone to comply because those who are not applying VAT on their receipts will be sanctioned,” he cautioned.

He also encouraged customers to always demand VAT receipts, noting that doing so makes verification easier and helps strengthen national revenue mobilisation.

“Pay your tax so we can build Ghana together,” he added.

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GRA projects 40% annual revenue boost as AI takes over key port operations https://www.adomonline.com/gra-projects-40-annual-revenue-boost-as-ai-takes-over-key-port-operations/ Thu, 20 Nov 2025 19:04:38 +0000 https://www.adomonline.com/?p=2602359 The Ghana Revenue Authority (GRA) says revenue at the country’s ports is expected to rise by up to 40% annually following the deployment of an advanced Artificial Intelligence (AI) system to support customs operations.

Speaking on Asempa FM’s Ekosii Sen show, Commissioner-General Anthony Kwasi Sarpong said the newly approved AI system will minimise human error, speed up duty assessment processes and enhance security checks across the ports.

According to him, the technology will calculate import duties within seconds, with human officers running parallel assessments to ensure accuracy and transparency.

“We will introduce AI to reduce human errors. The AI will ease the burden and calculate rates in a shorter amount of time. Humans will also perform their calculations so we can compare the results with those generated by the machine. We have taken this proposal to Parliament, and thankfully, it has been approved,” he said.

Mr. Sarpong added that importers will now receive information on their payable duties two weeks before vessels arrive, enabling faster processing and eliminating avoidable delays.

He stressed that the system is separate from ICUMS, explaining that the AI is capable of detecting narcotics, falsified declarations and high-risk cargo.

To ensure strong oversight, the GRA has set up a dedicated team at the Ministry of Finance that will operate independently of regular customs officers.

“Before the goods arrive at the ports, information regarding duties will be provided two weeks prior to the vessels’ arrival. This ensures that everything is ready before the vessels reach the ports, so importers should take note to avoid delays. This new system is different from the ICUMS system.

“The AI not only gathers information, but it also detects narcotics, counterfeit items and assesses risk profiles. We anticipate that AI will help increase our revenue at the ports by 40% annually. We have established a special team at the Ministry of Finance, separate from the regular customs staff. A few managers will oversee this team, and if anything goes wrong, they will be held accountable,” he added.

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24-hour economy already operational at ports – GRA Commissioner-General https://www.adomonline.com/24-hour-economy-already-operational-at-ports-gra-commissioner-general/ Thu, 20 Nov 2025 19:04:16 +0000 https://www.adomonline.com/?p=2602362 The Commissioner-General of the Ghana Revenue Authority (GRA), Anthony Kwasi Sarpong, has disclosed that the 24-hour economy is already in effect at the country’s ports, with commercial and customs activities running smoothly on a three-shift system.

Speaking on Asempa FM’s Ekosii Sen show, Mr. Sarpong said that even before the nationwide rollout of the 24-hour economy initiative, ports—particularly Tema Port—had been operating around the clock to boost efficiency and reduce delays.

“We run three shifts at the ports. Customs staff are always working, and businesses can also make payments online. This helps ease the burden on companies and speeds up the clearance process,” he explained.

He added that the arrangement ensures uninterrupted operations and enhances revenue mobilisation.

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GRA to roll out mobile tax platform for informal sector workers https://www.adomonline.com/gra-to-roll-out-mobile-tax-platform-for-informal-sector-workers/ Thu, 20 Nov 2025 18:54:13 +0000 https://www.adomonline.com/?p=2602346 The Ghana Revenue Authority (GRA) is set to introduce a new mobile tax platform aimed at simplifying tax payment for informal sector workers, including barbers, food vendors, bloggers, DJs and other small business operators.

Commissioner-General of the GRA, Anthony Kwasi Sarpong, revealed on Asempa FM’s Ekosii Sen show that the initiative — known as modified taxation — will allow individuals earning below GH₵500,000 annually to conveniently pay a 3% tax on their income using a mobile app.

He explained that the move is intended to eliminate the challenges that make tax compliance difficult for informal sector workers, many of whom are unable to leave their businesses to visit GRA offices.

“Some want to pay but they can’t. So we are making it simple and convenient. You will use your Ghana Card to register, pay on the app and receive your receipt instantly,” he said.

Mr. Sarpong appealed to business groups and stakeholders to support the rollout, emphasising that the platform will improve national revenue mobilisation while easing the burden on small business operators.

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New VAT reforms to bring relief to SMEs – GRA boss https://www.adomonline.com/new-vat-reforms-to-bring-relief-to-smes-gra-boss/ Thu, 20 Nov 2025 18:52:10 +0000 https://www.adomonline.com/?p=2602330 The Commissioner-General of the Ghana Revenue Authority (GRA), Anthony Kwasi Sarpong, says the business community has welcomed the government’s new VAT reforms, describing the measures as a major relief for enterprises across the country.

Speaking on Asempa FM’s Ekosii Sen show, Mr. Sarpong said the reforms, which are currently before Parliament, are expected to be approved before the end of the year to enable implementation in early 2026.

He noted that the proposed changes address long-standing concerns raised by businesses, particularly small and medium-scale enterprises.

Under the new structure, he explained, only businesses with an annual income of GH¢200,000 will be required to pay VAT, while the approved VAT rate will apply to those earning GH¢750,000 and above.

Mr. Sarpong appealed for full cooperation from stakeholders to ensure a smooth rollout once the reforms are passed into law.

“We have completed the VAT reforms, and it is currently in Parliament awaiting approval to become law. We hope that Parliament will approve it by the end of this year so that we can start rolling it out at the beginning of next year.

“The business community is pleased with the 2026 budget, as it addresses most of our concerns. If your annual income is 200,000 cedis, you will pay VAT tax on that amount. The approved rate is for incomes of 750,000 cedis and above. This has provided some relief to small businesses. We urge everyone to cooperate for the successful implementation of the reforms,” he said.

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Implement stalled 24hr economy and tackle unemployment – Abu Jinapor charges government https://www.adomonline.com/implement-stalled-24hr-economy-and-tackle-unemployment-abu-jinapor-charges-government/ Thu, 20 Nov 2025 14:38:46 +0000 https://www.adomonline.com/?p=2602270 Member of Parliament for the Damongo Constituency, Samuel Abu Jinapor, has criticised the government for failing to deliver on its flagship campaign pledges, accusing the administration of presiding over an economy where “the people are suffering while the data looks good on paper.”

He said Ghanaians have very high expectations of the Government due its campaign promises, but the Government has failed to translate these promises to action.

Contributing to the debate on the 2026 Budget Statement and Economic Policy in Parliament, the lawmaker argued that the government’s overwhelming electoral mandate was won on two clear commitments — reducing the cost of living and doing business, as well as creating “hundreds of thousands of jobs” for unemployed Ghanaians. But nearly a year after assuming office, there are no signs of these promises being materialised.

24-Hour Economy ‘Not Visible’

Hon. Jinapor questioned the government’s claim that its much-touted 24-hour economy had entered full implementation, saying there was no evidence of the promised three-shift system outlined in the NDC’s own 2024 manifesto. “Where is the 1:3:3 formula,” he asked.

Hon. Jinapor noted that even the Ministry of Finance “closes at 5pm,” asking how a supposedly round-the-clock economic model could function when the public sector itself was struggling with basic operations. “A whole year in office, and the Government has failed to demonstrate a well-defined national plan that can support a fully functioning 24-hour economic system.”

He further argued that the promise of one job being expanded into three shifts for three different people had not only stalled but run contrary to the current reality, where workers in critical sectors, including nursing and teaching, were allegedly working without pay.

Macroeconomic Gains ‘Not Reaching the People’

Although the budget highlights improved macroeconomic indicators, including reduced expenditure and lower inflation, Hon. Jinapor said these figures did not reflect conditions on the ground.

He criticised what he described as “under-spending,” noting that government expenditure in the first three quarters was 15% below target. This, he said, was slowing business activity, weakening credit access, and leaving contractors, farmers and public workers unpaid. “What the Budget labels as discipline is, in fact, squeezing the real economy. There is no trickle-down effect.”

Citing recent reports of over one million metric tons of paddy rice rotting in storage due to lack of buyers and weakened purchasing power, he warned that the real sector of the economy was showing signs of distress that could not be ignored.

Concerns Over Government Size

Hon. Jinapor also criticised the expansion of government appointments, particularly the appointment of new presidential staffers, envoys and 18 deputy heads of mission — more than any previous government. These appointments, he argued, has resulted in almost a fifty percent (50%) increment in the budgetary allocation for compensation for staff of the Office of the President, from GHC326 million in 2024 to GHC540 million in 2025.

Referring to reports by the Bank of Ghana warning against the rising cost of compensation, he said such decisions pose major fiscal risks for our economy. 

Priorities in Question

The MP further criticised a budgetary allocation of US$1.2 billion for new military aircrafts and a ship, questioning the government’s priorities when essential sectors were struggling. “Is this the priority of the Government when traders are suffering, farmers are suffering, nurses are suffering, teachers are suffering?” he asked.

The Damongo lawmaker insisted that the budget’s objectives would only be realised if government spending became timely, strategic and targeted toward stimulating demand and creating jobs. But currently, he said, the economy showed “clear signs of stress,” with delayed payments, weak credit flows, and unmet job creation promises eroding public confidence in the economy.

He urged the Finance Minister and the Bank of Ghana to inject liquidity into the economy, support productive sectors and restore the momentum needed to make the budget meaningful for ordinary Ghanaians.

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Agric Minister outlines plans for a National Farmers’ Market [Audio] https://www.adomonline.com/agric-minister-outlines-plans-for-a-national-farmers-market-audio/ Wed, 19 Nov 2025 13:58:21 +0000 https://www.adomonline.com/?p=2601855 Minister for Food and Agriculture, Eric Opoku, says government has begun processes to establish a farmers’ market system that will allow producers to sell directly to consumers at affordable prices.

Speaking in an interview on Adom FM’s Dwaso Nsem, he said the initiative has already started with support from a team at the University of Cape Coast.

“We have a team at Cape Coast University leading the initiative, and the farmers’ market has already begun,” he said.

Mr. Opoku explained that the idea is to create a space where farmers and consumers can interact directly without middlemen.

“We want to create a market where farmers come directly to meet consumers so that prices can remain affordable,” he noted.

He stressed a major challenge, stating that most of Ghana’s food is produced in rural communities far from Accra.

“The problem is that the bulk of our food comes from the villages, very far from Accra, so if you want to create the same farmers’ market in Accra, you will have to transport the food from the villages to the city and that makes it costly,” he said.

According to him, the ministry is working to address this transportation challenge to make the market system more effective.

Mr. Opoku added that this challenge is the very reason Ghana introduced a food distribution company in the first place.

“When farmers grow the food, it is affordable, but it becomes expensive by the time it reaches Accra,” he explained.

He assured that government is taking steps to reduce these costs and ensure that consumers benefit from the low farmsgate prices.

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Agric Minister updates Ghanaians on ongoing irrigation projects [Listen] https://www.adomonline.com/agric-minister-updates-ghanaians-on-ongoing-irrigation-projects-listen/ Wed, 19 Nov 2025 13:44:36 +0000 https://www.adomonline.com/?p=2601842 Minister for Food and Agriculture, Eric Opoku, says government is expanding irrigation infrastructure nationwide to boost vegetable production and ensure steady supply for the local market.

Speaking in an interview on Adom FM’s Dwaso Nsem, he revealed that several solar-powered boreholes are being constructed to support vegetable growers, especially in Gyenegyene.

“We are doing some of the solar-powered boreholes for the vegetable farmers in Gyenegyene, and by the end of this month, I will show Ghanaians the irrigation works currently ongoing,” he said.

According to him, one major irrigation project is underway in the Northern Region, where government is constructing 88 solar-powered boreholes.

Out of the number, 23 have already been allocated to schools in the region based on their land capacity for production.

He added that his ministry has taken full inventory of all irrigation facilities across the country based on a directive from President Mahama.

“Ghana has 1.9 million hectares of irrigable land, and out of that, only 229,000 hectares currently have irrigation. That is why we immediately moved a contractor to Ashaiman to fix the irrigation system there,” he noted.

Mr. Opoku explained that Ashaiman is one of the biggest onion-producing areas in the country, attracting buyers from neighbouring countries.

He said the contractor working on the Ashaiman irrigation system is almost done.

He added that government is repairing old and faulty irrigation infrastructure while constructing new ones to increase coverage.

Touching on tomato production, the minister said the greenhouse facility at Dawhenya had 100 units, but none were functioning for a long time.

Although a school was established under the project, it also became inactive.

“We later handed the facility to a private operator, and now the school is functioning and working with the Dawhenya systems,” he said.

He added that the tomatoes produced there are now supplied to some embassies and hotels.

Government plans to scale up the tomato variety being cultivated so farmers can produce in larger quantities to supply shopping malls.

“When we met with the malls, they told us their main concern is sustainability. That is why our government has started these irrigation projects to ensure consistent production,” he explained.

Mr. Opoku assured that the solar-powered irrigation systems will be completed in the next three to four months.

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Bond market: Turnover declines by 18% https://www.adomonline.com/bond-market-turnover-declines-by-18/ Wed, 19 Nov 2025 12:37:20 +0000 https://www.adomonline.com/?p=2601788 The secondary bond market softened this week, with total turnover declining 18.16% week-on-week to GH¢326.76 million from GH¢399.29 million the previous week.

Trading remained skewed toward the belly of the curve, led by the February 2027 maturity, which dominated market flows with GH¢157.83 million in executed trades.

The 2027-2030 segment served as the market anchor, capturing 61% of total turnover at a weighted average yield of 15.62%.

The 2031–2034 maturities also attracted meaningful interest, accounting for 39% of traded volumes at a weighted average yield of 15.81%.

Activity on the long end remained muted, with limited investor engagement across the 2035-2038 segment.

“We expect a steady but cautious tone next week, with yields broadly stable but slightly firmer as investors assess revenue risks from the budget and await clarity from the upcoming Monetary Policy Committee (MPC) meeting. We anticipate long-end activity will remain muted, given the limited appetite for duration, though sentiment could shift once the finance minister outlines concrete plans to revitalise the domestic bond market”, said Databank.

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GUTA cautions against VAT changes that could hurt traders https://www.adomonline.com/guta-cautions-against-vat-changes-that-could-hurt-traders/ Tue, 18 Nov 2025 20:26:53 +0000 https://www.adomonline.com/?p=2601499 The Ghana Union of Traders’ Associations (GUTA) has raised concerns over the government’s newly announced VAT reforms, warning that the changes could negatively affect traders, particularly small and medium enterprises.

In a statement issued on November 18, 2025, GUTA said the new VAT threshold of GH₵750,000 creates an “unfair segregation” in the marketplace.

Under the reforms, traders earning above the threshold must charge an additional 20% VAT, while those below it remain exempt. The association cautioned that this uneven playing field could drive customers toward lower-priced traders, disadvantaging those required to charge VAT.

GUTA also noted that traders who previously paid a 4% flat VAT rate will now be compelled to apply the full 20% VAT once they exceed the daily turnover exemption of GH₵2,366, potentially leading to higher prices and loss of customers.

To address these disparities, the union is urging the government to allow traders to opt for a modified tax system that promotes fairness and encourages voluntary compliance.

On the introduction of Artificial Intelligence (AI) systems at the ports, GUTA welcomed the move but insisted that the government must first rationalise port taxes, as previously assured. The union stressed that addressing high and complex taxes is key to improving trade facilitation.

GUTA reiterated its commitment to working with the government and stakeholders to ensure the reforms strengthen revenue mobilisation without harming the livelihoods of Ghanaian traders.

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Gov’t failed to achieve 50% of 2025 projected targets – Gideon Boako https://www.adomonline.com/govt-failed-to-achieve-50-of-2025-projected-targets-gideon-boako/ Tue, 18 Nov 2025 14:59:38 +0000 https://www.adomonline.com/?p=2601395 Gideon Boako, MP for Tano North, has criticised the government’s performance in the 2025 fiscal year, asserting that at least half of the targets set in the budget were not achieved.

Contributing to the debate on the 2026 Budget in Parliament, he stated that the Finance Minister must take responsibility for the significant gaps between projections and outcomes.

“It is estimated that about 50 percent of the projections in the 2025 budget were not achieved,” he declared.

Dr. Boako argued that this shortfall undermines the credibility of the government’s economic planning and calls into question the effectiveness of policy execution.

He stressed that the Finance Minister’s earlier posture—mocking his predecessors for missing targets—was now proving ironic.

“Barely one year down the line, how does Minister Ato Forson feel when he has also significantly missed most of his macro-fiscal targets?” he asked.

The MP noted that missing these targets has wider implications for economic stability and public confidence.

He pointed out that even in areas where the government claims success, the underlying methods used to achieve those outcomes appear questionable.

“There are issues with the foundations deployed to meet some of these targets,” he warned, arguing that cosmetic achievements do not translate into real economic progress.

Dr. Boako emphasised that failing to meet such a large share of budget projections suggests deeper structural weaknesses.

He said the mismatch between plans and implementation means that essential sectors were deprived of the resources needed for growth.

“When programmed expenditures are not delivered, the real sector cannot expand as intended,” he added.

He called on the Finance Ministry to adopt more realistic projections and strengthen monitoring mechanisms to close the gap between budget promises and actual delivery.

“If the government wants to restore confidence, then accuracy, discipline and transparency must drive future targets,” he concluded.

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Gideon Boako flags ‘blatant falsehood’ in 2026 Budget figures https://www.adomonline.com/gideon-boako-flags-blatant-falsehood-in-2026-budget-figures/ Tue, 18 Nov 2025 14:40:50 +0000 https://www.adomonline.com/?p=2601386 Tano North MP, Gideon Boako, has criticised what he describes as inaccuracies and inconsistencies in the 2026 Budget, accusing the Finance Minister of presenting misleading figures.

In his contribution to the debate on the floor of Parliament, he questioned why the budget claimed GH¢63 billion had been spent on the Big Push when, according to official appendices, the actual expenditure was far lower.

“If you present your budget with a blatant falsehood… why won’t they be unhappy with you?” he asked.

Dr. Boako argued that such discrepancies undermine trust and frustrate ministries whose budgeted allocations were never honoured.

“If you programmed to spend an amount on education and you end up giving them less, why won’t they be unhappy?” he queried, pointing to similar issues in the roads and teacher trainee education sectors.

He also criticised the government for allocating insufficient resources for infrastructure development, particularly roads.

“If you programmed to release funds for roads infrastructure and you end up giving my good senior Abodjah a paltry amount, why won’t he be angry?” he said.

The MP highlighted how teacher trainees were suffering due to inadequate funding for their feeding.

“If you end up releasing just a pittance, denying the trainees the opportunity of a three-square meal a day, why won’t the Hon. Haruna Iddrisu be angry?” he added.

He concluded by urging the Finance Minister to be transparent and consistent with budget figures to restore public confidence.

“The safest ship is the one anchored at the port, but the best ship is the one set on sail. Ghana’s economic ship must be set sail now,” he said.

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2026 Budget: Gideon Boako tells Finance Minister excessive cuts are harming growth https://www.adomonline.com/2026-budget-gideon-boako-tells-finance-minister-excessive-cuts-are-harming-growth/ Tue, 18 Nov 2025 14:32:46 +0000 https://www.adomonline.com/?p=2601380 The Member of Parliament for Tano North, Gideon Boako, has accused the Finance Minister of engaging in excessive fiscal consolidation that is undermining growth and depriving critical sectors of essential resources.

Contributing to the debate on the 2026 Budget, he argued that the drastic expenditure cuts were designed “just to let the books look good at the expense of the good people of Ghana.”

According to him, this is not fiscal discipline but “fiscal indiscipline.”

Dr. Boako pointed to major reductions in expenditure across key budget categories. He noted that goods and services spending had been cut by 44 percent, while capital expenditure saw a 66 percent decline in the first three quarters.

“This is a gap of about US$1.1 billion of public investment the government has denied Ghanaians,” he said.

The lawmaker also highlighted that shortfalls in programmed spending for 2025 showed resources were not delivered to priority areas.

“It is very evident that resources were not delivered to the intended priority areas to ensure real sector growth,” he stated.

He added that the effects of the cuts were being felt nationwide, as ministries lacked the funds to fulfil their mandates.

Dr. Boako further suggested that ministers themselves were unhappy with the situation.

“Your own ministers are not happy with you because they also have integrity,” he remarked, quoting a popular line: “They are government officials and they have integrity.”

He urged the Finance Minister to redirect focus toward real growth rather than cosmetic fiscal outcomes.

“The ship for Ghana’s economic emancipation must be set sail now,” he declared.

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Jospong Group and UN University seal green deal at COP30 https://www.adomonline.com/jospong-group-and-un-university-seal-green-deal-at-cop30/ Tue, 18 Nov 2025 14:23:50 +0000 https://www.adomonline.com/?p=2601384 In a significant move to bridge the gap between climate ambition and tangible action in Africa, the Jospong Group of Companies (JGC) and the United Nations University Institute for Natural Resources in Africa (UNU-INRA) have signed a landmark Memorandum of Understanding (MoU) on the sidelines of the COP30 Brasil, Belém climate summit.

The agreement, signed on Monday, November 17, 2025, aims to fuse Jospong Group’s action-oriented projects in waste management and agriculture with UNU-INRA’s research prowess to drive green industrialisation, build climate resilience, and empower small-to-medium enterprises (SMEs) across the continent.

The General Manager of the Jospong Group Green Transition Office, Dr. Glenn Kwabena Gyimah, signed for the conglomerate, while the Director of UNU-INRA, Professor Fatima Denton, signed for the university.

The ceremony was witnessed by a delegation from the Parliamentary Select Committee on Environment, Science, and Innovation at COP30, including Chairman Yaw Frimpong Addo, Vice Chairperson John Darko, and the Ranking Member, Dr. Adam Hamza.

Speaking at the ceremony, Dr. Gyimah described the partnership as a pivotal step in the group’s sustainability mission, underscoring the strategic importance of the collaboration.

“As a group, we drive sustainability in an integral order. Sustainability is now a market that drives economies, and we are particular about it,” he noted.

The partnership, he explained, was being formed to drive growth, investments, create jobs, and have an impact in our world, stressing, “This MOU signing is a privilege, and we’ll hear about the outcome in the coming time.”

On her part, Professor Denton underscored the critical need for such a partnership, indicating that green businesses were essential. She, however, lamented that many African entrepreneurs were not inclined towards green business, despite its importance.

“The infrastructure is often not there. The technology is absent. The resources are not there,” she further bemoaned.

She elaborated on the synergy between the two institutions, explaining that while Jospong was very action-oriented in waste management, agriculture, and green transition, the UN Institute was research-oriented. The partnership would leverage their strengths, combining Jospong’s practical experience with the UN Institute’s research expertise to support Africa, she added.

Professor Denton also contextualised the agreement within the larger, often frustrating, context of COP negotiations.

“When we come to the COP, the conversations that I had are very much geared towards decarbonisation. It doesn’t mean we don’t want decarbonisation. We want decarbonisation that’s fair, decarbonisation that’s inclusive,” she stated, emphasising the need for a “fair deal” for Africa that includes finance and technology transfer.

The Ranking Member on Parliament’s Environment Committee, Dr. Hamza, commended the initiative for bridging “the gap between theory and practice, academia and industry.”

He urged both parties to ensure the partnership delivers concrete results, saying, “Don’t let it end up like many other partnerships that fail to deliver.”

He assured them of parliamentary support, adding, “As members of parliament, we’ll do our best to support this partnership, especially when it comes to policy and legislation. We’ll stand ready to ensure its success.”

In her welcome address, a Senior Sustainability Officer at Jospong Green Transition Office, Dr. Gloria Kusi Boamah, set the tone, stating, “This memorandum of understanding symbolizes more than cooperation; it represents a shared vision, a vision where research informs action, where technology and policy work hand in hand, and where African institutions lead the transformation towards sustainability.”

What the MoU Stands to Achieve

The partnership is designed as a practical engine for Africa’s just transition. It will pursue joint research, capacity building, and high-impact projects focused on strengthening climate resilience, advancing natural resource management, and supporting green industrialisation.

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Cedi has regained respect locally and internationally — Mahama https://www.adomonline.com/cedi-has-regained-respect-locally-and-internationally-mahama/ Tue, 18 Nov 2025 11:58:28 +0000 https://www.adomonline.com/?p=2601317 President John Dramani Mahama has lauded the management of Ghana’s currency, stating that the cedi has regained significant respect both locally and internationally.

Speaking at the Cedi@60 celebration organised by the Bank of Ghana in Accra under the theme “Sovereignty, Stability, and Economic Resilience,” President Mahama commended the Bank of Ghana and the Ministry of Finance for their efforts in stabilising the currency.

“I just want to say that the governor and all your team at the BoG, the Ministry of Finance, Ghanaians are grateful to you for the management of our currency,” he said.

He expressed renewed confidence in the cedi, noting, “I think that a lot of respect has returned to our currency. And it’s my hope that you will keep whatever you are doing to make sure that we don’t have excess liquidity, all those technical jargons like open market operations, whatever.”

President Mahama encouraged the central bank and economic managers to sustain their policies, saying, “Whatever you are doing, continue doing so, so that the cedi is respected.”

The Cedi@60 commemoration marks six decades since Ghana introduced its national currency in 1965, replacing the Ghanaian Pound, a milestone that reflects the country’s continued pursuit of economic independence and resilience.

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NPP’s misuse of tax revenue has shaken public confidence — Twum-Barimah https://www.adomonline.com/npps-misuse-of-tax-revenue-has-shaken-public-confidence-twum-barimah/ Tue, 18 Nov 2025 10:15:17 +0000 https://www.adomonline.com/?p=2601275 Deputy Director-General of the Narcotics Control Commission, Twum-Barimah, Esq., says Ghanaians are not opposed to paying taxes but are frustrated by the lack of transparency in how their contributions were used under the previous New Patriotic Party (NPP) administration.

Speaking on Asempa FM’s Ekosii Sen show, he argued that the NPP government failed to account for the “enormous taxes” it collected, fueling public distrust.

“Ghanaians are not against paying taxes; rather, they are concerned that they do not see how the funds have been used,” he said.

He questioned the use of specific levies, including the COVID-19 levy. “The NPP misused all the enormous taxes collected from us. What did they use the COVID levy for?”

Twum-Barimah added that when the government cannot demonstrate the purpose and impact of tax revenue, citizens naturally resist such policies.

“If they can’t see the relevance of the tax, that’s when they have issues. The E-levy, which Ghanaians complained about yet was still passed, what did they use it for?” he asked.

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2026 Budget targets realistic, achievable — Deloitte Ghana https://www.adomonline.com/2026-budget-targets-realistic-achievable-deloitte-ghana/ Tue, 18 Nov 2025 09:36:30 +0000 https://www.adomonline.com/?p=2601231 Yaw Appiah Lartey, Partner for Strategy and Partnerships at Deloitte Ghana, says he is confident the government can meet the key targets outlined in the 2026 Budget presented by Finance Minister Dr. Cassiel Ato Forson.

The budget lays out a medium-term recovery plan focused on stability, growth, and fiscal consolidation, with projections spanning 2026 to 2029. Government aims for an average real GDP growth rate of 4.9% over the period, while non-oil GDP growth is expected to hover around 5%, reflecting efforts to reduce dependence on the extractive sector.

Inflation is projected to remain within the 8 ± 2 percent target band, and the primary balance is expected to record a surplus of 1.5% of GDP on a commitment basis from 2026, in line with the Fiscal Responsibility Framework. These measures are designed to sustain recent gains in macroeconomic stability.

Speaking on Channel One TV, Mr. Appiah Lartey said the budget deficit targets are realistic, particularly with continued oversight from the International Monetary Fund (IMF). He noted that achieving the projections will, however, depend on disciplined implementation.

“I think they are all achievable. For instance, if GDP in the first half of the year grows by about 6.3%, and the end-of-year projection is around 4.6%, that is entirely achievable.

“The same applies to the budget deficit. With the IMF providing oversight, these targets are realistic. They are not overly ambitious, unless we fail to implement certain areas with discipline, which could cause us to miss some of the targets,” he said.

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All You Want This Bronya Is on DStv https://www.adomonline.com/all-you-want-this-bronya-is-on-dstv/ Mon, 17 Nov 2025 18:09:00 +0000 https://www.adomonline.com/?p=2601534 ​​​​​​​From Football fever to award-winning drama and blockbuster nights DStv is where your connection, celebration, and storytelling come alive this festive season. Pay your account, stay connected, and stream it all.

The holiday season, DStv turns every screen into a celebration. Whether it’s the roar of the Football crowd, a Saturday night movie marathon, or the latest binge-worthy series, DStv has something for every mood, every home, and every heart.

From November, the festive line-up takes centre stage. So, while families connect over ApƆƆfee’s side splitting comedy or gear up for the continent’s football’s biggest family meeting. Expect passion, pride, and drama that moves from pitch to screen.

Pay your account, stay connected, and keep the joy rolling through the New MyDStv App your all-access pass to this season’s best. With DStv you have an all-access pass to the best entertaining titles. Here’s what’s waiting for you this festive season:

ApƆƆfee

Mondays 9:00pm | Akwaaba Magic

The frustration of parents!  They’ve dropped hints, set rules, even tried tricks but the kids still won’t budge! They’ve plotted, their grown-up kids keep resisting, and the results is pure comedy and drama! When your grown-up kids just won’t move out how does Kwamena China and his wife deal with wahala?

Etiti

Thursdays & Fridays 7:30pm | Africa Magic Showcase

A fearless hunter, Jidenna, returns from the dead into Etiti the realm between worlds after a brutal attack. Guided by the mythic guardian Nwa Ala, he must expose his bride’s killer and challenge the laws of the underworld. With betrayal bubbling beneath every ritual, nothing is sacred and every moment could be his last.

NCIS: Tony & Ziva

Thursdays 5:00pm | M-Net

When ex-agents Tony DiNozzo and Ziva David (played by Michael Weatherly and Cote de Pablo) are betrayed from within, they take their daughter Tali and vanish across Europe. With hunter-becoming-hunted, the family must out-smart old allies and unseen foes while the clock ticks down.

Last Breath

Sunday 9 Nov 6:00pm | M-Net Movies 1

Based on a true story, deep-sea diver Chris Lemons is stranded over 100 metres below the surface, his oxygen failing. Above him, his team races through freezing water and failing systems to reach him in time. Every second counts in this heart-pounding battle for survival submerged in darkness.

Stugo S1 (Part 2)

Starts 6 December. Weekends at 10:40am | Disney Channel

Six middle schoolers are tricked into attending a mad scientist’s fake summer camp on a tropical island filled with impossible machines, monsters, and fashion-forward mutants.

Stay with DStv, Your Number One Festive Entertainment Partner

Let DStv add a little more your festive season. The exciting festive line-up will bring you and your family closer together with entertainment made for every moment.

Pay your account, stay connected to create the best memories this festive season. Upgrade, or reconnect on the New MyDStv App. Sit, back and relax and let DStv make your festive entertainment wishes come true.

For those on the go, DStv Stream keeps you connected, offering top movies, series, and sports anywhere, anytime.

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T-bills: Investors continue to ditch treasury market https://www.adomonline.com/t-bills-investors-continue-to-ditch-treasury-market/ Mon, 17 Nov 2025 06:26:25 +0000 https://www.adomonline.com/?p=2600643 Investors continued to ditch the treasury market despite the Finance Minister, Dr. Cassiel Ato Forson, unveiling the 2026 Budget.

According to the Bank of Ghana’s auction results, the government failed to meet its target yet again.

The government received GH¢3.94 billion of the total bids, but accepted GH¢3.83 billion of the bids.

A little over 77% of the bids came from the 91-day bill.  About GH¢3 billion of the bids were tendered. The uptake was GH¢2.9 billion.

For the 182-day bill, GH¢613.2 million of the bids were tendered. The bids accepted were estimated to the tune of GH¢608.2 million.  

Also, GH¢257.1 million of the bids were tendered for the 364-day bill. About GH¢254 million of the bids were accepted.  

Meanwhile, interest rates continued to rise on the yield curve.

The 91-day bill increased by 10 basis points to 11.02%.

That of the 182-day bill also shot up to 12.66% from 12.61% the previous week.

However, the yield on the 364-day bill decreased by 7.0 basis points to 13.08%.

SECURITIESBIDS TENDERED (GH¢)BIDS ACCEPTED (GH¢)
91 Day Bill    3.07bn2.97bn
182 Day Bill613.27m608.27m
364 Day Bill257.13m254.13m
   
Total3.94bn3.83bn
Target5.67bn 

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2026 Budget falls short of grand ambition; it’s stability, not transformation – Economics Professor https://www.adomonline.com/2026-budget-falls-short-of-grand-ambition-its-stability-not-transformation-economics-professor/ Mon, 17 Nov 2025 06:24:44 +0000 https://www.adomonline.com/?p=2600646 A US-based Assistant Professor of Economics, Dr Dennis Nsafoah, has described the 2026 Budget as falling short of the grand ambition it has been marketed to achieve — that of transforming the economy and delivering inclusive growth.

According to him, despite the remarkable improvement in the macroeconomic indicators, the 2026 targets show little new ambition.

“The macroeconomic data speak for themselves. Real GDP [Gross Domestic Product [GDP] growth for 2025 stood at 4.8%, exceeding the target. Inflation fell from 23.8% in 2024 to just 8.0% in 2025, and public debt declined sharply from 69.0% of GDP to 45%. These numbers confirm that Ghana has indeed ‘turned the corner’.”

“However, the 2026 targets show little new ambition. Growth, inflation, and fiscal balances are set at or below 2025 levels. The overall message is clear: the government intends to consolidate the gains rather than pursue expansion. That is understandable for a country emerging from crisis, but it also means 2026 will be a year of stability, not transformation”, Dr. Nsafoah, who is an Assistant Professor of Economics at Niagara University in New York, disclosed in his review of the 2026 Budget.

Transformation Deferred

Dr. Nsafoah who is also a member of the research committee of Tesah Capital remarked that economic transformation requires more than stability; “it demands a decisive reorientation of spending from consumption toward investment. On that front, the data reveal little change”.

He added that “capital expenditure in the 2026 Budget for the years 2025 and 2026 averages 2.6% of GDP, almost identical to the 2.5% recorded in the 2024 and 2025 budgets. Meanwhile, the wage bill remains elevated at about 5.7% of GDP, higher than both previous years. In simple terms, Ghana continues to spend twice as much on salaries as on development projects”.

This fiscal structure, he alluded may preserve stability, but it does not build a foundation for growth. “Productive investment—in infrastructure, technology, and skills—remains too small to drive job creation or diversify the economy”.

Inclusive Growth Still Out of Reach

He continued that the government’s third stated objective—strengthening the social sectors for inclusive growth—also appears unfulfilled.

Therefore, the education and health budgets record modest nominal increases, but both decline in real terms once inflation is considered relative to the 2025 Budget. “Social protection programmes such as LEAP, School Feeding, and the National Health Fund all see nominal cuts ranging from 2 to 17%, and real reductions of up to 25%.

According to him, these numbers suggest that while social programmes are being maintained, they are not expanding.

“The fiscal space gained through stability has not yet been translated into stronger safety nets or improved access to essential services”, he concluded.

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Jospong Group showcases over 1,000 green jobs from recycling initiative at COP30 Brazil https://www.adomonline.com/jospong-group-showcases-over-1000-green-jobs-from-recycling-initiative-at-cop30-brazil/ Sun, 16 Nov 2025 16:48:07 +0000 https://www.adomonline.com/?p=2600596 The Jospong Group of Companies (JGC) is participating in the 30th Session of the Conference of the Parties (COP30) in Belém, Brazil, using the global platform to showcase a proven model for sustainable development.

The summit, which opened on November 10, is scheduled to conclude on November 21, 2025.

Key themes at COP30 include addressing climate change denial, raising ambition on climate targets, and achieving the goal of limiting global temperature rise to 1.5 °C above pre-industrial levels.

Other major discussions focus on climate finance for developing countries and the role of the fossil fuel industry in emissions.

Leading the high-level JGC delegation are Betty Brown Nyadu, General Manager of the Integrated Recycling and Compost Plant (IRECOP), Accra, and Ing. Glenn Kwabena Gyimah (PhD), General Manager of the Jospong Green Transition Office. They are joined by Senior Sustainability Officer Dr. Gloria Boamah Kusi and a team of journalists.

At the LONGi Climate Action White Paper launch—an official UNFCCC side event on Saturday, November 15—Dr. Boamah Kusi highlighted the economic and social impact of JGC’s IRECOP initiative, implemented through its subsidiary Zoomlion Ghana Limited.

“The project has created over 1,000 green jobs, with more than 35% filled by women, while improving sanitation and living conditions for over 1.4 million residents across Ghana,” she stated. She emphasized that this achievement embodies a people-centered climate model.

“This is what we proudly call carbon inclusion, ensuring the benefits of climate finance reach those who need them most,” Dr. Kusi explained. “It demonstrates that a sustainable business model can be both profitable and equitable, where waste truly becomes wealth.”

Developed under Article 6.2 of the Paris Agreement, the IRECOP project not only reduces emissions but also advances key Sustainable Development Goals, promoting decent work and gender equality.

Dr. Kusi concluded that the initiative offers a scalable and replicable blueprint for how strategic climate investments can simultaneously drive economic opportunity and environmental protection across the Global South.

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Cocoa production drastically drops in Volta and Oti Regions – COCOBOD https://www.adomonline.com/cocoa-production-drastically-drops-in-volta-and-oti-regions-cocobod/ Sun, 16 Nov 2025 14:02:57 +0000 https://www.adomonline.com/?p=2600590 The Ghana Cocoa Board (COCOBOD) has raised concerns over the drastic reduction in cocoa production in the Volta and Oti Regions over the past decade.

Statistics from the regulatory body indicate a decline of over 6,000 tons in the last four years, attributed in part to farmers selling to unauthorized buyers. COCOBOD also cited increasing cocoa smuggling as a major factor contributing to the sharp drop in production.

Under the leadership of COCOBOD Chair, Dr. Ofosu Ampofo, a team engaged farmers and stakeholders in the Volta and Oti Regions to identify the causes of reduced sales to the government and discuss possible solutions.

During separate sessions, farmers pointed to delayed payments by the Produce Buying Company (PBC) as the main reason they opted to sell to individuals who pay upfront.

The Volta Oti Regional Chief Farmer, Nana Kwane Abass, also highlighted security lapses, claiming some officials are complicit in smuggling cocoa beans. “Cocoa bags don’t have wings to fly; they move along the roads, and some of these roads even have barriers, but they are not intercepted,” he lamented.

Dr. Ampofo noted that Ghana loses substantial foreign exchange due to cocoa smuggling, which adversely affects the national economy. He called for a stakeholder-driven approach to tackle the problem.

“After all the resources invested in the cocoa sector, cocoa is being freely exported to Togo or Côte d’Ivoire, which have done virtually nothing. You see the harm this is doing to the economy,” he said.

The COCOBOD Chair also highlighted the impact on government sales, explaining that production between 2023 and 2024 dropped to 450,000 metric tons from a projected 800,000 due to smuggling and other irregularities.

To address the issue of delayed payments, Dr. Ampofo encouraged farmers to trade with certified buying companies that pay upfront, which would support the country’s economy and justify government investment in the sector.

The Volta Regional Minister, James Gunu, issued a stern warning to anyone attempting to use his jurisdiction as a transit route for smuggling cocoa to Togo. “We will deal ruthlessly with those involved in cocoa smuggling. If you think you can use the Volta Region as a transit point, you better change your mind,” he said.

Similarly, Oti Regional Minister, John Kwadwo Gyapong, pledged to work with the Regional Security Council (REGSEC) to find practical ways to end smuggling and to encourage youth involvement in cocoa cultivation. He emphasized that boosting local production would increase yields while advocating for greater independence of his jurisdiction under the COCOBOD regional structure.

“REGSEC will address this issue. We will meet and find ways to combat cocoa smuggling in the Oti Region,” he stated.

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Fuel prices to go up from Nov. 16 — COPEC warns of hikes in petrol, diesel and LPG https://www.adomonline.com/fuel-prices-to-go-up-from-nov-16-copec-warns-of-hikes-in-petrol-diesel-and-lpg/ Sat, 15 Nov 2025 18:38:52 +0000 https://www.adomonline.com/?p=2600423 Fuel prices are expected to rise across pumps from Saturday, November 16, 2025, the Chamber of Petroleum Consumers (COPEC) has announced, citing increasing global crude prices and the weakening cedi.

In a statement signed by its Executive Secretary, Duncan Amoah, COPEC projected that petrol prices will increase by about 3.38%, moving from an average of GHS12.18 to GHS12.59 per litre. Diesel, the statement noted, could see a much sharper jump of 9.81%, rising from GHS12.49 to GHS13.71 per litre.

LPG consumers are also expected to feel the pinch, with prices projected to go up by 1.97%, reaching GHS11.87 per kilogram.

COPEC explained that the expected adjustments reflect international market trends and currency pressures affecting petroleum import costs. The Chamber added that the actual increases may differ slightly at various pumps, but would likely fall within a five percent margin of the projected figures.

Duncan Amoah urged Oil Marketing Companies (OMCs) to cushion consumers where possible. “We appeal to OMCs to absorb part of the increases to avoid burdening consumers with steep hikes,” he said.

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Public sector workers paid but left without tools to work – Amin Adam https://www.adomonline.com/public-sector-workers-paid-but-left-without-tools-to-work-amin-adam/ Fri, 14 Nov 2025 13:42:22 +0000 https://www.adomonline.com/?p=2600101 Former Finance Minister Dr. Mohammed Amin Adam has accused the ruling administration of fiscal indiscipline, alleging that funds for government expenditure and goods and services outlined in previous budgets have not been released.

Speaking to the press on Friday, November 14, 2025, Dr. Adam said public sector workers are being paid without the necessary tools to perform their duties.

“Since this administration came into office, the 2025 budget and the mid-year allocation for government expenditure and goods and services remain unreleased. Workers are paid but not provided with the tools and inputs to work,” he stated.

He added, “This is fiscal indiscipline in reality. Some ministries lack basic items like toilet rolls and fuel to carry out government functions.”

Dr. Adam’s remarks follow Finance Minister Dr. Cassiel Ato Forson’s presentation of the 2026 Budget Statement to Parliament on November 13, which focused on fiscal consolidation and economic transformation.

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Gov’t commits over GH¢86bn to roads and education in 2026 Budget https://www.adomonline.com/govt-commits-over-gh%c2%a286bn-to-roads-and-education-in-2026-budget/ Thu, 13 Nov 2025 20:38:57 +0000 https://www.adomonline.com/?p=2599845 Finance Minister Dr. Cassiel Ato Forson has unveiled major investments in road infrastructure and education as part of the government’s 2026 Budget Statement and Economic Policy, aimed at accelerating national development and expanding access to quality education.

Presenting the budget to Parliament on Thursday, Dr. Forson revealed that GH¢4.3 billion has been allocated to the Ministry of Roads and Highways for nationwide road construction projects.

“In addition, GH¢3.0 billion has been earmarked for the Ghana Road Maintenance Trust Fund to construct 10 kilometres of roads in each of the 166 constituencies in 2026, ensuring that roads in areas most in need remain motorable,” he said.

He further noted that GH¢30 billion under the Big Push Infrastructure Programme will be used to construct strategic roads and bridges, linking national and regional capitals and boosting economic activity across the country.

On education, Dr. Forson disclosed that GH¢33.3 billion has been allocated to the Ministry of Education in 2026 to fund key programmes and initiatives, alongside GH¢9.9 billion for the Ghana Education Trust Fund (GETFund).

He reaffirmed the government’s commitment to the Free Senior High School (Free SHS) policy, with GH¢4.2 billion set aside for its implementation next year.

“To end the double-track system and enhance the quality of secondary education, GH¢1.1 billion has been allocated under the Ghana Secondary Learning Improvement Programme (GSLIP) in 2026,” Dr. Forson added.

ALSO

2026 Budget: Gov’t to create 800,000 jobs – Ato Forson

2026 Budget: Gov’t uncovers $33bn fake imports, orders forensic audit

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2026 Budget: Gov’t to create 800,000 jobs – Ato Forson https://www.adomonline.com/2026-budget-govt-to-create-800000-jobs-ato-forson/ Thu, 13 Nov 2025 20:23:40 +0000 https://www.adomonline.com/?p=2599841 Finance Minister Dr. Cassiel Ato Forson has announced that the 2026 Budget Statement and Economic Policy is designed to create up to 800,000 new jobs across multiple sectors of the economy.

Presenting the budget to Parliament on Thursday, November 13, Dr. Forson explained that the government’s flagship infrastructure and industrial projects will serve as the main drivers of employment creation.

He revealed that GH¢63 billion worth of road contracts awarded under the Big Push initiative are expected to generate around 490,000 jobs, based on World Bank metrics for employment from road investments.

The Minister further disclosed that three new garment factories under the government’s industrialisation agenda will create over 20,000 direct jobs, while seven new agro-processing plants are projected to employ about 700 people directly, with thousands more benefiting indirectly through supply chains.

Dr. Forson also highlighted that the National Policy on Integrated Oil Palm Development, spanning 2026 to 2032, is expected to generate approximately 250,000 jobs across the oil palm value chain.

Additionally, the ongoing rollout of Farmer Service Centres nationwide will provide employment opportunities in machinery operation, maintenance, logistics, and other support services.

“These investments are not isolated; they are part of an integrated national effort to turn stability into jobs and growth,” he said.

To further support the private sector, which he described as the engine of job creation, Dr. Forson announced that the government has recapitalised the National Investment Bank (NIB) and will inject GH¢1 billion into the Agricultural Development Bank (ADB) and Consolidated Bank Ghana (CBG) before the end of 2025.

He also revealed that GH¢401 million has been allocated to the Women’s Development Bank to provide affordable financing to small businesses and entrepreneurs, particularly women traders and market operators.

Dr. Forson noted that the facility will directly benefit business owners such as Lamisi Adam, Priscilla Yovu, and Caroline Sfeir, whom he met during engagements at the Takoradi Market Circle and Kotokoraba Market.

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Government to rehabilitate the National Theatre in Accra

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2026 budget: Government to build 6 new Regional Hospitals, launch MahamaCares for NCDs https://www.adomonline.com/2026-budget-government-to-build-6-new-regional-hospitals-launch-mahamacares-for-ncds/ Thu, 13 Nov 2025 19:51:06 +0000 https://www.adomonline.com/?p=2599784 Finance Minister Dr. Cassiel Ato Forson has outlined major health sector initiatives in the 2026 Budget Statement, highlighting the government’s commitment to Universal Health Coverage (UHC) and equitable access to healthcare.

Presenting the budget to Parliament on Wednesday, November 13, Dr. Forson announced plans to construct six new regional hospitals for the newly created regions, starting with three in 2026, alongside two district hospitals at Bole and Shama.

In addition, ten previously abandoned Agenda 111 hospital projects will be completed, including facilities at La General, Effia Nkwanta, the Komfo Anokye Maternity Block, and Ashanti Regional Hospital in Sewua.

To improve maternal and child health services, seven hospitals will be upgraded, while technology integration and infrastructure modernization aim to build an efficient, inclusive, and resilient healthcare system.

Dr. Forson also highlighted the launch of the Ghana Medical Trust Fund (MahamaCares), established under the Ghana Medical Trust Fund Act, 2025 (Act 1144), to provide sustainable financing for Non-Communicable Diseases (NCDs) and specialized medical services.

In 2026, MahamaCares will introduce a comprehensive NCD financing policy covering eligible conditions, approved services, tariffs, and essential medicines, ensuring patients receive uninterrupted care without high out-of-pocket expenses. Diagnostic and treatment centers will also be established on a public-private partnership (PPP) basis in major hospitals nationwide.

“These interventions will move Ghana from treatment to prevention, from inequality to access, and from promise to performance, ensuring no Ghanaian is left behind,” Dr. Forson stated.

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2026 Budget: Mahama directs schools to buy only Ghanaian rice, maize, chicken and eggs https://www.adomonline.com/2026-budget-mahama-directs-schools-to-buy-only-ghanaian-rice-maize-chicken-and-eggs/ Thu, 13 Nov 2025 19:46:46 +0000 https://www.adomonline.com/?p=2599815 The 2026 Budget Statement unveiled a major directive from President Mahama aimed at bolstering Ghana’s agricultural sector and ensuring stable markets for local farmers.

Finance Minister Dr. Cassiel Ato Forson announced that the President has mandated all public schools, from basic to tertiary levels, to purchase only staple food items produced within Ghana.

This initiative, dubbed the “Buy Ghana, Eat Ghana” policy, is designed to create a reliable market for local producers, guaranteeing their income and encouraging increased domestic food production.

The Presidential Directive

Minister Forson confirmed the strict mandate issued from the highest office:

“President Mahama has directed all schools, from basic to secondary, to purchase rice, maize, chicken, and eggs produced in Ghana only,” he stated.

The directive affects a significant portion of the national food budget, impacting the supply chain for thousands of educational institutions, including primary schools, junior high schools (JHS), and senior high schools (SHS) participating in the Free SHS Programme.

Agencies Responsible for Compliance

To ensure effective implementation, the directive names five key governmental and educational agencies tasked with oversight and enforcement:

  • Ministry of Education
  • Ghana Education Trust Fund (GETFund)
  • School Feeding Programme
  • Free Secondary Education Secretariat
  • National Food Buffer Stock Company (NAFBC)

These institutions have been directed to ensure strict adherence to the local sourcing policy. NAFBC, as the national food aggregator and storage facility, will play a central role in facilitating bulk purchases and distributing locally produced rice and maize to schools.

Economic Impact on Farmers

The policy serves as a crucial form of non-cash subsidy and market intervention for Ghanaian farmers, providing stability for four key commodities:

  • Rice and Maize: Guarantees a ready market for local grain farmers, reducing price volatility caused by imports and preventing harvest gluts.
  • Chicken and Eggs: Ensures a consistent market for Ghana’s poultry farmers, helping them compete against cheap imported frozen poultry.

By guaranteeing demand for these locally produced goods, the government aims to boost production, reduce reliance on costly food imports, and stabilize the livelihoods of food crop and poultry farmers.

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2026 Budget: Government secures $250m Energy debt relief, strengthens reforms under ESRP https://www.adomonline.com/2026-budget-government-secures-250m-energy-debt-relief-strengthens-reforms-under-esrp/ Thu, 13 Nov 2025 19:14:38 +0000 https://www.adomonline.com/?p=2599774 The Finance Minister, Dr. Cassiel Ato Forson, has announced that Ghana’s energy sector is showing signs of stability following key reforms under the Energy Sector Recovery Programme (ESRP).

Presenting the 2026 Budget Statement to Parliament on Wednesday, November 13, Dr. Forson noted that chronic inefficiencies—such as poor revenue collection, high system losses, non-cost-reflective tariffs, and state-owned enterprise (SOE) challenges—had contributed to rising shortfalls in the sector.

However, he highlighted that enforcement of the Cash Waterfall Mechanism (CWM) has significantly improved, with monthly declarations increasing from GH¢950 million in 2024 to GH¢1.7 billion by August 2025.

The Minister revealed that the government has renegotiated agreements with nine Independent Power Producers (IPPs)—AKSA, BXC, CENIT, Cenpower, Early Power, Karpower, Meinergy, Sunon Asogli, and Twin City (Amandi)—securing over US$250 million in debt discounts, extending the legacy-debt cut-off to June 2025, and reducing capacity charges for some plants.

To enhance efficiency at the Electricity Company of Ghana (ECG), Cabinet has approved a Private Sector Participation (PSP) strategy to address billing and collection challenges. A Transaction Advisor is expected to be procured by the end of November 2025, with concession contracts targeted for the third quarter of 2026.

Dr. Forson added that the government has agreed on a payment plan with the World Bank to clear gas-related liabilities, paying US$384.6 million between January and August 2025 and reducing drawdowns on Standby Letters of Credit to US$210.5 million, with full restoration targeted by April 2026.

In addition, daily gas deliveries have been increased by 70 million standard cubic feet to reduce dependence on liquid fuels and ensure stable power generation.

Overall, the Finance Minister said Ghana has paid about US$1.5 billion in 2025 to settle renegotiated PPA commitments, reduce IPP arrears, and remain current on energy invoices.

As a result of these interventions, projected energy sector shortfalls for 2025 have dropped from US$2.2 billion to US$1.6 billion, marking a major step toward restoring financial sustainability in the energy sector.

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2026 Budget: Cocoa sector rebounds as gov’t cuts COCOBOD debt and boosts farmer support – Ato Forson https://www.adomonline.com/2026-budget-cocoa-sector-rebounds-as-govt-cuts-cocobod-debt-and-boosts-farmer-support-ato-forson/ Thu, 13 Nov 2025 19:12:05 +0000 https://www.adomonline.com/?p=2599765 Finance Minister Dr. Cassiel Ato Forson says Ghana’s cocoa sector is showing strong signs of recovery following years of financial strain and operational challenges.

Presenting the 2026 Budget Statement and Economic Policy to Parliament on Wednesday, November 13, Dr. Forson said the sector, once burdened by high debt, smuggling, and weak output, is now on a path to revival.

He revealed that cocoa output rose from 530,783 metric tonnes in 2023/2024 to 603,840 metric tonnes by the end of 2024/2025, driven by targeted anti-smuggling interventions. Production for 2025/2026 is projected at 650,000 metric tonnes, supported by government allocations of GH¢2.4 billion for CODAPEC (mass spraying) and GH¢2.7 billion for free fertiliser distribution.

To further curb smuggling, the government has increased the farm-gate price from GH¢49,600 per metric tonne to GH¢58,000, narrowing price gaps with neighbouring countries.

Dr. Forson also highlighted significant debt reduction achievements, with COCOBOD’s debt falling from GH¢32 billion in March 2025 to GH¢20.6 billion in September 2025, and cocoa roads debt reduced from GH¢21 billion to GH¢6.9 billion following rationalisation efforts.

He added that 243,000 metric tonnes of low-priced forward sales have been settled, with the remaining 90,000 metric tonnes (valued at about US$234 million) set to be regularised in the 2025/2026 crop year.

The Minister further disclosed that legislative processes are underway to amend the COCOBOD Act, 1984 (PNDCL 81) to transfer oversight from the Ministry of Food and Agriculture to the Ministry of Finance, a move aimed at strengthening fiscal risk management and accountability within the sector.

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2026 Budget: Public debt records sharpest decline in over a decade – Finance Minister https://www.adomonline.com/2026-budget-public-debt-records-sharpest-decline-in-over-a-decade-finance-minister/ Thu, 13 Nov 2025 18:56:26 +0000 https://www.adomonline.com/?p=2599753 Finance Minister Dr. Cassiel Ato Forson has announced that Ghana’s public debt has experienced one of the most significant declines in the country’s history.

Presenting the 2026 Budget Statement to Parliament on Thursday, November 13, Dr. Forson revealed that total public debt fell from GHS726.7 billion, representing 61.8% of GDP in 2024, to GHS630.2 billion, or 45% of GDP, by October 2025.

“For the first time in over a decade, we have recorded a negative rate in debt accumulation, from a positive 19.1% in 2024 to a negative 13.3% in 2025,” he announced.

The Minister attributed the decline to strengthened fiscal discipline, prudent borrowing practices, and a more stable cedi, noting that these measures have firmly placed Ghana’s public debt on a sustainable downward trajectory.

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2026 Budget: Ghana’s economy stabilised, confidence returning – Finance Minister https://www.adomonline.com/2026-budget-ghanas-economy-stabilised-confidence-returning-finance-minister/ Thu, 13 Nov 2025 18:45:51 +0000 https://www.adomonline.com/?p=2599746 Finance Minister Dr. Cassiel Ato Forson has highlighted significant progress made by the government in stabilising and rebuilding the Ghanaian economy.

Presenting the 2026 Budget Statement to Parliament on Thursday, November 13, Dr. Forson said the administration has restored fiscal discipline, curbed inflation, stabilised the cedi, and renewed investor confidence.

He described the government’s economic strategy as more than a recovery, calling it a “reset” and a “rebuilding process” following the challenges inherited from the previous administration.

“We have restored fiscal discipline, brought inflation under control, stabilised the cedi, and rekindled investors’ confidence. This is not just a recovery, it’s a reset. It is a rebuilding from the ashes of a daunting inheritance, a heavy burden laid on us by the previous administration,” Dr. Forson stated.

He assured Parliament that the government remains committed to prudent fiscal management and to safeguarding the gains achieved so far.

According to Dr. Forson, confidence in Ghana’s economy is steadily returning, with clear signs of renewed strength and optimism.

“Confidence is returning, the Black Star is rising once more. Ghana is back, strong and full of hope. The tide has finally turned, and Ghana’s economy has now recovered, marked by renewed investor confidence. Our economy has regained its rhythm,” he told Parliament.

“This budget is about building on the foundation we have laid,” he added.

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2026 Budget: NDC inherited economy ‘weighed down by debt and mismanagement’ – Finance Minister https://www.adomonline.com/2026-budget-ndc-inherited-economy-weighed-down-by-debt-and-mismanagement-finance-minister/ Thu, 13 Nov 2025 18:44:39 +0000 https://www.adomonline.com/?p=2599739 Finance Minister Dr. Cassiel Ato Forson has described the economic situation inherited by the governing National Democratic Congress (NDC) as “weighed down by debt, weakened by mismanagement, and stripped of confidence.”

Presenting the 2026 Budget Statement in Parliament on Thursday, November 13, Dr. Forson highlighted the government’s efforts to stabilise the economy and restore public trust.

“Mr. Speaker, when this administration took office, we met an economy in distress — weighed down by debt, weakened by mismanagement, and stripped of confidence. The 2025 budget was our first act of courage, a declaration that Ghana would rise again through reforms, discipline, and visionary leadership,” he said.

Dr. Forson noted that the 2026 Budget aligns with President John Dramani Mahama’s 2025 State of the Nation Address, which pledged to resolve Ghana’s economic crisis and place the nation on a sustainable growth trajectory.

He described the budget as a continuation of the government’s “reset agenda,” a comprehensive plan to revive and transform the economy.

“This is not just a recovery. It is a reset — a story of a nation that refused to stay down. This is a rebirth from the ashes of a daunting inheritance, the heavy burden laid upon us by the previous administration,” Dr. Forson stated.

The Minister emphasized that fiscal discipline, structural reforms, and renewed investor confidence remain central to Ghana’s economic transformation, job creation, and long-term growth.

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Livestream: Finance Minister presents 2026 budget https://www.adomonline.com/livestream-finance-minister-presents-2026-budget/ Thu, 13 Nov 2025 13:44:12 +0000 https://www.adomonline.com/?p=2599594 The Finance Minister, Dr Cassiel Ato Forson is set to present the 2026 budget before parliament.

The budget is expected to outline the government’s fiscal strategy, revenue measures, spending priorities and economic policies for the year ending 31st December 2026.

It will also provide updates on the performance of key sectors, ongoing reforms, and initiatives aimed at stabilising and growing the economy.

The presentation will reviewed and discussed in Parliament before receiving formal approval.

Watch the full video below:

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LIVE! FINANCE MINISTER, CASSIEL ATO FORSON, PRESENTS 2026 BUDGET || 13 NOV. 2025 nonadult
Finance Minister set to review VAT rate, roll out major tax reforms in 2026 Budget https://www.adomonline.com/finance-minister-set-to-review-vat-rate-roll-out-major-tax-reforms-in-2026-budget/ Thu, 13 Nov 2025 06:59:00 +0000 https://www.adomonline.com/?p=2599312 Finance Minister Dr Ato Forson is set to announce a reduction in the effective VAT rate to be paid by businesses from next year.

This will be captured in the 2026 Budget, which will be presented to Parliament later today.

The Finance Minister is also expected to announce a major review of the country’s tax laws.

There are strong indications that Dr Ato Forson will move to scrap the COVID-19 Levy.

Some analysts are already describing this as a “total revamp” of Ghana’s tax laws — similar to the sweeping changes introduced between 2013 and 2016.

Sources say the move forms part of government’s broader plan to simplify the tax regime for businesses and improve compliance.

JoyBusiness understands that government believes this approach could help address persistent revenue mobilisation challenges.

Expanding Ghana’s Economy and Job Creation

The Finance Minister is also expected to propose a review of the Public Financial Management Act — a move aimed at tightening expenditure controls going into next year.

This will be accompanied by improvements to the Ghana Integrated Financial Management Information System (GIFMIS), which could help manage the country’s debt levels.

The 2026 Budget is expected to highlight ongoing government initiatives such as the “Big Push” and the “24-Hour Economy” programme, and how they are expected to expand the economy.

Sources say the minister will also outline programmes targeted at reducing unemployment and creating more jobs.

Dr Ato Forson is likely to emphasise how the current administration has prudently managed the economy and maintained fiscal discipline.

He will also outline government’s plans for managing the economy after the completion of Ghana’s IMF-supported programme.

There are strong indications that the Finance Minister may take a more moderate stance on Ghana’s macroeconomic targets for 2026.

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Mahama launches ‘Nkoko Nkitinkiti’ programme to boost poultry production https://www.adomonline.com/mahama-launches-nkoko-nkitinkiti-programme-to-boost-poultry-production/ Wed, 12 Nov 2025 15:12:27 +0000 https://www.adomonline.com/?p=2599190 President John Mahama has launched the ‘Nkoko Nkitinkiti’ programme, one of his government’s flagship initiatives, in Kumasi, the Ashanti Regional capital.

The project, which falls under the broader Feed Ghana Programme, aims to boost local poultry production, create jobs, and reduce Ghana’s reliance on imported chicken.

Speaking at the launch, National Feed Ghana Coordinator Bright Kwadzo Demordzi explained that the initiative will provide selected beneficiaries with free birds and feed to start or expand their poultry farms.

He noted that interested individuals must visit their District Agriculture Directorate to pick up registration forms before officials conduct inspections to verify eligibility.

“Each constituency across the country will benefit from about 10,000 birds,” Mr Demordzi said. “However, the selection of beneficiaries depends on the Animal Production Directorate. They will visit your environment to see where you intend to keep the birds because that is very important. If there’s no space, it means you are not qualified.”

He stressed that the goal is to ensure recipients can properly care for the birds.

“If you are in an environment that is comfortable for the birds, then you will be given. It’s not just about giving out birds; you must be able to take care of them to benefit. These birds are not to be returned — once given, they are yours forever,” he added.

According to Mr Demordzi, both broilers and layers will be distributed under the project. The Ministry of Food and Agriculture will also provide ongoing management and technical support to beneficiaries.

He advised potential applicants without suitable spaces to wait until they are ready, adding: “You have to go to the district director of agriculture in your area. Their officers will inspect your environment, and if it’s conducive for the birds, you’ll be given a form to fill out. The form helps us record your details and location so that if there are problems with the birds, we can locate you and offer technical advice.”

Earlier this year, President Mahama announced that the first processing plant under the Nkoko Nkitinkiti project was in the procurement stage. Mr Demordzi has now confirmed that the procurement phase has been completed, paving the way for the President to officially cut the sod for construction to begin.

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Bond market: Turnover declines 30% to GH¢399m https://www.adomonline.com/bond-market-turnover-declines-30-to-gh%c2%a2399m/ Tue, 11 Nov 2025 09:39:23 +0000 https://www.adomonline.com/?p=2598557 The Secondary bond market softened notably, with total turnover declining 30.12% week-on-week to GH¢399.29 million from GH¢571.42 million the previous week.

Trading was largely concentrated in the February 2032 maturity, which remained the most actively traded paper. This accounted for GH¢145.04 million of flows.

The 2031-2034 bonds emerged as the market’s anchor, capturing 56% of total turnover at a weighted average yield of 15.74%.

The 2027–2030 maturities also drew notable interest, accounting for 35% of traded volumes at a weighted average yield of 15.92%.

Databank Research said it expects market activity to remain subdued in the near term.

 However, the S&P upgrade of Ghana’s credit rating to B-/B from CCC+/C signals improving macro and fiscal conditions and could gradually support sentiment and investor re-engagement.

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Ghana signs bilateral debt agreement with Germany https://www.adomonline.com/ghana-signs-bilateral-debt-agreement-with-germany/ Mon, 10 Nov 2025 15:01:01 +0000 https://www.adomonline.com/?p=2598303 Ghana has signed a bilateral debt agreement with the Federal Republic of Germany, marking the sixth such accord under the country’s ongoing debt restructuring programme.

Finance Minister Dr. Cassiel Ato Forson described the agreement as a major milestone in Ghana’s economic recovery, noting that it will strengthen fiscal stability and support long-term economic progress.

Dr. Forson expressed gratitude to the Government and people of Germany for their continued partnership and confidence in Ghana’s future, highlighting that the agreement reflects the strong cooperation between the two nations.

German Ambassador to Ghana, Frederik Landshöft, congratulated Dr. Forson and praised the government for its progress in stabilising the economy.

He reaffirmed Germany’s commitment to deepening bilateral and economic cooperation with Ghana.

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Finance Minister engages market women in Takoradi ahead of 2026 Budget

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Finance Minister engages market women in Takoradi ahead of 2026 Budget https://www.adomonline.com/finance-minister-engages-market-women-in-takoradi-ahead-of-2026-budget/ Sun, 09 Nov 2025 18:19:37 +0000 https://www.adomonline.com/?p=2597928 Ahead of the presentation of the 2026 Budget, Finance Minister Dr. Cassiel Ato Forson has engaged traders at Takoradi’s Market Circle as part of his ongoing stakeholder consultations.

Describing the encounter as the highlight of his visit to the Western Region, Dr. Forson said the discussions with the market women were both humbling and inspiring.

“It was clear that our efforts to stabilise the economy are beginning to bear fruit,” he noted after the interaction. “Many spoke of easing prices, renewed confidence, and a growing sense that the tide is finally turning in their favour.”

The engagement forms part of government’s broader efforts to ensure that the 2026 Budget reflects the realities, hopes, and expectations of ordinary Ghanaians.

Dr. Forson is scheduled to present the 2026 Budget Statement and Economic Policy to Parliament on Thursday, November 13, 2025.

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First Gas Limited wins ‘Best-Growing Oil & Gas Company’ Award at Ghana Impactful Companies Conference & Awards https://www.adomonline.com/first-gas-limited-wins-best-growing-oil-gas-company-award-at-ghana-impactful-companies-conference-awards/ Fri, 07 Nov 2025 14:17:11 +0000 https://www.adomonline.com/?p=2597511 First Gas Limited has been named the Best-Growing Oil & Gas Company at the Ghana Impactful Companies Conference and Awards, held at the La Palm Royal Beach Hotel on Friday, October 31, 2025.

Organized by The Business Executive Media Group, the event celebrates organizations that have demonstrated excellence, innovation, and meaningful contributions to Ghana’s economic and social development.

The award was received on behalf of First Gas Limited by Nana Dwomoh Agyemang-Badu, Chief Executive Officer of the company. She expressed her gratitude, dedicating the recognition to the company’s employees, loyal customers, and partners.

“This award is a proud moment for all of us at First Gas. It reflects our collective dedication to excellence, safety, and customer satisfaction. We remain committed to delivering safe, reliable, and affordable LPG solutions that impact lives across Ghana,” Nana Dwomoh said.

First Gas Limited has built its success on operational efficiency, a strong focus on safety, and customer care. The company combines technical expertise with a people-first approach, ensuring that every aspect of its service—from bulk distribution to household supply—meets the highest standards of quality and reliability.

This philosophy has earned the trust of thousands of households and commercial clients across Ghana’s energy sector.

Over the years, First Gas Limited has gained a reputation for quality, reliability, and safety in LPG supply and distribution. The company continues to serve as a trusted energy partner, promoting cleaner and more sustainable energy use nationwide.

This award underscores First Gas’s growing impact in Ghana’s energy sector and reaffirms its position as a responsible, customer-focused industry leader.

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PDS loses $390m case against ECG https://www.adomonline.com/pds-loses-390m-case-against-ecg/ Wed, 05 Nov 2025 16:26:21 +0000 https://www.adomonline.com/?p=2596679 The Electricity Company of Ghana (ECG) has secured a decisive legal victory in London after an international arbitration tribunal dismissed all claims brought against it by Power Distribution Services Ghana Limited (PDS).

The ruling, delivered after nearly three years of proceedings, ends a long-running dispute over the controversial termination of the PDS concession agreement, a deal that was once touted as a major step toward reforming Ghana’s power distribution sector.

In 2019, PDS took over the management of ECG under a 20-year concession agreement, which was part of the Millennium Challenge Compact (MCC) programme between the Government of Ghana and the Millennium Challenge Corporation (MCC) of the United States.

The agreement was intended to bring private-sector efficiency into ECG’s operations and improve electricity distribution across the country.

However, just months into the arrangement, the Government of Ghana, through ECG, suspended and later terminated the contract.

The termination followed revelations that the payment guarantees provided by PDS—through Al Koot Insurance and Reinsurance Company of Qatar—were fraudulent.

These guarantees were a key requirement of the deal, designed to secure PDS’s financial obligations under the concession.

Despite assurances from PDS that it had fulfilled all preconditions for the transfer, investigations revealed that Al Koot had not authorised the guarantees in question.

Subsequent court rulings in Qatar, including from the Qatari Court of Cassation, confirmed that the documents were indeed forged.

Following the termination, PDS initiated arbitration proceedings in London, claiming ECG’s actions were wrongful.

The company sought a declaration of wrongful termination, direct costs of about US$39.4 million, and alleged lost profits of US$351.5 million.

ECG, represented by Omnia Strategy LLP, led by Cherie Blair KC, robustly defended the case, maintaining that the termination was fully justified and in the national interest.

ECG argued that PDS had failed to exercise due diligence in verifying the authenticity of the payment guarantees—an omission that fundamentally undermined the concession.

After years of legal submissions and hearings, the London-seated tribunal dismissed all of PDS’s claims in their entirety.

The tribunal upheld ECG’s position that the fraudulent guarantees went to the heart of the concession and justified its termination of the agreement.

The ruling is a major win for ECG and the Government of Ghana, shielding the state from potential financial liability amounting to hundreds of millions of dollars.

It also brings closure to one of the most contentious chapters in Ghana’s recent energy sector history.

With this victory, ECG is now positioned to move forward and focus on improving power distribution for Ghanaians without the shadow of the PDS dispute.

The decision also reaffirms the state’s stance on protecting public resources and ensuring accountability in major national contracts.

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Peasant farmers question buffer stock over delayed GHS 100m grain purchases https://www.adomonline.com/peasant-farmers-question-buffer-stock-over-delayed-ghs-100m-grain-purchases/ Wed, 05 Nov 2025 12:28:03 +0000 https://www.adomonline.com/?p=2596550 The Peasant Farmers Association of Ghana (PFAG) is calling on the government to provide transparency regarding the GHC 100 million released to the National Food Buffer Stock Company (NAFCO) for the purchase of surplus grains from farmers nationwide.

The funds were intended to stabilise prices and assist farmers in offloading excess produce, including maize and rice. However, several months on, farmers report little evidence of direct purchases by NAFCO.

Executive Director of PFAG, Bismark Owusu Nortey, expressed concern over the lack of visible impact. “I have not had any report from farmers saying they have sold their produce to NAFCO, which is why we are worried about where the GHC 100 million went,” he said.

While acknowledging that some rice labelled with NAFCO branding has been procured, Nortey noted that there is no clear data on the districts or farmers who have benefitted. He urged NAFCO to publish a list of contracted companies, indicating purchase locations and quantities to ensure accountability.

The association also called for improved communication and clear timelines, particularly if another GHC 100 million is to be disbursed. Nortey stressed that farmers should have direct access to aggregators or millers for timely lifting of their grains.

“The association wants to see quick timelines and a clear list of approved aggregators or millers, where farmers can directly engage to sell their produce. This is what we are asking for,” he added.

PFAG believes that greater transparency, accountability, and timely action will protect farmers’ interests and strengthen confidence in government agricultural initiatives.

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Eat Ghana Rice Campaign urges public to support local farmers amid rice glut https://www.adomonline.com/eat-ghana-rice-campaign-urges-public-to-support-local-farmers-amid-rice-glut/ Wed, 05 Nov 2025 11:55:33 +0000 https://www.adomonline.com/?p=2596534 The partners of the Eat Ghana Rice Campaign have issued an urgent appeal to Ghanaians to patronize locally produced rice to help address the current rice glut threatening the livelihoods of farmers across the country.

According to the campaigners, over 1.3 million metric tonnes of paddy rice remain unsold in warehouses nationwide due to low demand. This situation, they warned, could lead to huge financial losses for farmers despite their record harvests.

While commending the government and the National Food Buffer Stock Company (NAFCO) for efforts to purchase excess stock, the group stressed that lasting solutions depend on a collective change in consumption habits.

“The simple act of choosing Ghana Rice over imported ones will reduce the glut and empower our agricultural sector for the long term,” the statement said.

The group also dismissed outdated perceptions of poor quality, noting that local millers have upgraded to modern dehusking and polishing technologies that meet Food and Drugs Authority (FDA) and Ghana Standards Authority (GSA) standards.

They further emphasized that Ghana Rice is fresher, healthier, more affordable, and ideal for dishes such as Jollof and Waakye.

“Consuming Ghana Rice is a patriotic investment in our economy. It keeps money in Ghana, supports jobs, and builds resilience against global food price shocks,” the partners noted.

Read the statement below:

Press Statement: Urgent Appeal to Ghanaians from ‘Eat Ghana Rice Campaign’ to Consume Ghana Rice

The partners of the Eat Ghana Rice Campaign are appealing to all Ghanaian citizens, institutions, and corporate bodies to urgently turn to the consumption of domestically produced Ghana Rice to help resolve the immediate crisis of rice glut and safeguard the livelihoods of our dedicated farmers.

Media reports over the last week have highlighted a deeply concerning situation: an estimated 1.3 million metric tonnes of paddy rice are currently stalled, unsold, and stored in warehouses across the country due to a lack of buyers. This significant glut threatens to cause catastrophic losses for millions of Ghanaian farmers who have worked tirelessly to achieve record harvests.

We sincerely appreciate the intervention efforts currently being made by the government and the National Food Buffer Stock Company (NAFCO) to purchase excess stock. However, these governmental efforts alone cannot solve the problem. While we support these efforts by the government to mop up the glut, we call on Ghanaians to join the efforts and play our individual roles in helping tackle the challenge. Since 2019, the Eat Ghana Rice Campaign has been emphasising that the main sustainable and definitive solution lies in a collective, fundamental shift in our national consumption habits. The simple act of choosing Ghana Rice over imported ones will reduce the glut and empower our agricultural sector for the long term.

We understand that for years, the primary barrier to purchasing Ghana Rice was the lingering perception of inferior quality and concerns about the presence of stones and foreign materials. We are here to declare that this perception is outdated and inaccurate. The Ghana Rice value chain has undergone a dramatic, technological revolution. Millers have invested heavily in state-of-the-art dehusking, grading, polishing, and color sorting equipment.

Our leading brands are now meticulously processed using sophisticated machinery to ensure a clean, consumer-ready grain, in conformity with Food and Drugs Authority (FDA) and Ghana Standards Authority (GSA) standards. Ghana Rice grains are now beautifully polished, consistent in size, and deliver the non-sticky, fluffy texture that is essential for perfect Jollof, Waakye, and Plain Rice dishes. Unlike imported rice that spends months in transit, Ghana Rice comes straight from our fields to your plate, retaining a fresh, unique aroma and flavour, and are healthier and more nutritious. Ghana Rice brands are also cheaper.

The statistics surrounding our consumption habits are stark and demand immediate action. The Ghana Statistical Service’s 2024 Trade Report indicates that despite the availability of high-quality Ghana Rice alternatives, rice accounted for 7.8% of our nation’s total food imports in 2024. In monetary terms, our country spent an astonishing GHS 3 Billion on rice importation last year. Every grain of imported rice purchased is a vote of confidence in foreign farmers and foreign economies.

Consuming Ghana Rice is a patriotic investment in the future of our food systems. It is the most direct way for every Ghanaian citizen, household, restaurant, hotel, and company to keep billions of Cedis circulating within the Ghanaian economy. It can also help ensure a stable currency and create more jobs for women and youth. It will additionally build our national resilience against global food price shocks and supply chain disruptions. We urge every Ghanaian to walk into the market or supermarket today and actively seek out Ghana Rice brands and purchase for the good of our dear Mother Ghana.

Signed

Eat Ghana Rice Campaign Partners (John A. Kufuor Foundation, Competitive African Rice Platform (CARP) of the ECOWAS Rice Observatory (ERO), Ghana Rice Interprofessional Body (GRIB), Peasant Farmers Association of Ghana (PFAG), Hopeline Institute, Farm Wallet, and AGRA. For media interviews, please call Dr. Nana Ama Aning Oppong – Duah of the Eat Ghana Rice Campaign on 0260600636.

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