Ghana’s cocoa sector is facing a severe financial downturn, with export revenues for 2024 officially falling to $1.73 billion. This marks the first time since 2010 that earnings have dipped below the critical $2 billion threshold, representing a 25.4% decline in just one year. Despite global cocoa prices surging by over 150% in 2024, Ghana […]
In a major shift in Ghana’s mining landscape, China’s Zijin Mining Group has officially completed its acquisition of the Akyem Gold Mine from Newmont Corporation. The deal, finalized on April 16, 2025, saw Zijin pay an initial $900 million in cash, with the remaining $100 million unlocked following the Ghanaian Parliament’s ratification of the Akyem […]
In a significant blow to illegal cross-border trade, the Anti-Cocoa Smuggling Taskforce of the Ghana Cocoa Board (COCOBOD), supported by national security, seized 100 bags of cocoa beans at Old Akrade. The suspects attempted to bypass heavy security at the Adomi Bridge tollbooths by concealing the beans under a load of chippings in a tipper […]
The Paramount Chief of Kwahu, Daasebre Akuamoah Agyapong II, has resigned as the Board Chairman of the Agricultural Development Bank (ADB) PLC. The resignation, which took place in late 2024, followed a formal directive from the Bank of Ghana (BoG). The central bank invoked Section 103(2)(d) of the Banks and Specialised Deposit-Taking Institutions Act, 2016, […]
The Asantehene, Otumfuo Osei Tutu II, has donated 200 acres of land at Dedesua in the Ashanti Region to the State Housing Company (SHC) to support the development of affordable housing. This significant contribution highlights the critical role of partnership between traditional leaders and state institutions in addressing Ghana’s housing deficit. The land will serve […]
According to data released by the Ghana Statistical Service, the national economy achieved a year-on-year growth rate of 4.7 percent during the first quarter of 2024, an improvement over the 3.8 percent expansion recorded in the corresponding period of the previous year. This performance was largely propelled by a significant surge in the industrial sector, […]
A combination of illegal mining, adverse climate conditions, crop disease, and extensive smuggling has led to a major reduction in Ghana’s cocoa revenue for the early part of 2024. Fiifi Boafo, the Head of Public Affairs at COCOBOD, noted that these factors resulted in a revenue drop exceeding $500 million according to Bank of Ghana […]
The Liquefied Petroleum Gas (LPG) Marketers Association of Ghana has formally endorsed the National Petroleum Authority’s (NPA) decision to transition to an Open Competitive Tender system for LPG imports. Under this new framework, the procurement of gas will move away from previous methods in favor of a transparent bidding process designed to drive down costs. […]
During the ninth UK-Ghana Business Council (UKGBC) meeting in Accra, Ghana solidified its economic partnership with the United Kingdom by signing two pivotal Memoranda of Understanding (MoUs). Co-chaired by Vice President Dr. Mahamudu Bawumia and the UK’s Minister of State for Development and Africa, Rt Hon. Andrew Mitchell, the agreements focus on specialized skills, knowledge, […]
The Ghana Revenue Authority (GRA) has officially petitioned the receiver of several defunct financial institutions to recover approximately GHȼ91 million in outstanding taxes. This disclosure was made by Mr. Edward Apenteng Gyamerah, the Commissioner in charge of the Domestic Tax and Revenue Division, during a hearing before the Public Accounts Committee (PAC) on Monday. The […]