That is according to the latest outlook report by the Chamber of Oil Marketing Companies (COMAC), which guides pricing decisions for oil marketing companies and was seen by Joy Business.

This marks the third time since January this year that fuel prices are projected to rise.

However, this time, the spike has been influenced and driven largely by rising crude oil prices on the international market, as well as increases in finished petroleum product prices.

Our checks show that the rate of increase could have been higher if the cedi had not posted some marginal appreciation against major trading currencies over the past two weeks.

According to the Chamber of Oil Marketing Companies, the Ghana cedi appreciated marginally against major trading currencies.

For instance, during the March 1, 2026, Databank pricing window, the currency moved from GHS 11.09 to 11.04 per US dollar, representing a 0.45 percent surge.

Databank, in its market research report, noted that the cedi’s recent appreciation aligns with gains in other major sub-Saharan African currencies, reflecting broad external support driven by sustained dollar weakness.

Expected Price Hikes

COMAC’s data shows that petrol prices are expected to increase by 2.89 percent and could result in a price of GHC 12.04 per litre.

Diesel prices are projected to rise by 0.86 percent, with a litre likely to sell for around GHS13.22.

Liquefied Petroleum Gas (LPG), for the first time this year, is expected to go down marginally and, from March 1, should sell at the pumps at GHS 13.87 per kilogram.

However, based on current market conditions, not all major oil marketing companies may move quickly to increase prices from this weekend or from March 1, 2026.

Reasons

COMAC’s data indicate that the projected price increases are largely driven by rising prices of finished petroleum products as well as crude oil prices.

Oil prices are trading near a seven-month high amid speculation of potential US military action against Iran. Brent crude closed at about 71 dollars a barrel.

Some energy analysts have projected that crude prices could hit 100 dollars a barrel.

On the other hand, finished petroleum products recorded mixed movements. Petrol increased by 4.58 percent, and gas by 1.66 percent, while LPG fell by 1.05 percent.

Speaking on Asempa FM’s Ekosii Sen show, Mr Kwakye Ofosu explained that the Bank of Ghana had been accumulating gold reserves long before Dr Bawumia assumed office.

According to him, the New Patriotic Party (NPP) administration inherited about eight tonnes of gold reserves, indicating that gold accumulation was already part of the central bank’s long-term strategy.

He stressed that the use of gold as a reserve asset is a common global practice and cannot be attributed to any single individual.

“The NPP accumulated about eight tonnes of gold, which shows that the central bank has long been increasing its gold reserves. It is incorrect to attribute the idea of buying gold for the central bank solely to Bawumia; other countries also maintain gold in their reserves. Therefore, the principle of using gold as a reserve cannot be claimed as his idea,” he said.

Mr Kwakye Ofosu added that while gold remains an important reserve asset, it is also volatile and must be carefully balanced with other forms of reserves.

“Reserves are not held exclusively in gold; they must be diversified. Gold is a volatile commodity, with prices that can rise and fall significantly, so proper management is essential. Currently, we have about $13.8 billion in reserves that we have not used, along with approximately 20 tonnes of gold,” he stated.

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Speaking on Asempa FM’s Ekosii Sen show, Mr. Kwakye Ofosu said that between 2023 and 2024, the NPP government increased power tariffs by 52 percent as part of IMF-backed conditions.

He noted that the agreement required quarterly tariff adjustments and major reviews to account for inflation, production costs, and exchange rate pressures.

According to him, a significant tariff adjustment made around September or October last year was aimed at improving electricity access and supporting capital expenditure in power generation.

“Between 2023 and 2024, under the NPP, power prices were increased by 52%. As part of the conditions set by the IMF, the government agreed to implement quarterly tariff adjustments and a significant tariff review to recover costs related to inflation, production expenses, exchange rates, and other factors.

“Last September or October, we carried out a major tariff adjustment based on improvements in access to electricity and capital expenditures for power generation, which the NPP had consented to. The IMF collaborates with the government, and once an agreement is made, it must be honoured. This is a binding agreement established by the NPP with the IMF. Such measures are necessary; otherwise, we would continue to accumulate debt,” he stated.

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Speaking after President John Mahama delivered the 2026 State of the Nation Address, Mr Ayariga cited a Reuters report indicating that Ivory Coast will pay cocoa farmers between 800 and 1,000 CFA francs per kilogramme for the mid-crop season starting March 1.

He noted that this amounts to roughly GH¢980 to GH¢1,225 per 64kg bag, compared to Ghana’s producer price of GH¢2,587 for the same quantity.

According to Mr Ayariga, the comparison underscores Ghana’s ongoing commitment to supporting cocoa farmers through competitive pricing policies.

“Mr Speaker, it seems today is about cocoa prices. I can understand. Let me read Reuters today. Reuters has confirmed that Ivory Coast will pay cocoa farmers 800 to 1,000 CFA francs per kilogramme for the mid-crop starting March 1. The main crop price was 2,800 CFA francs per kilogramme. When converted to Ghana cedis, this is about 980 to 1,225 Ghana cedis per 64kg bag,” he said.

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Addressing Parliament during his 2026 State of the Nation Address, the President highlighted that the establishment of GoldBod has led to a surge in gold exports, with 103 tonnes exported in just 10 months, generating over US$10 billion in foreign exchange inflows.

“The formalisation of gold exports has reduced smuggling and increased recorded exports in the Artisanal Small-scale Mining sector from 66.3 tonnes by the end of 2024,” he said.

President Mahama explained that the increase in reserves is a key step in strengthening Ghana’s economic stability, asserting sovereignty over its natural resources, and preparing for global uncertainties.

“Mr. Speaker, our reserves currently stand at US$13.8 billion, up from US$8.9 billion by the end of 2024. This covers 5.7 months of import needs. A key driver of this development has been the establishment of the Ghana Gold Board,” he stated.

He added that with global gold prices expected to rise over the next three years, Ghana must build stronger reserve buffers to stabilise the cedi, reduce inflation, boost investor confidence, and support household incomes.

“When the cedi stabilises, imported inflation falls, businesses can plan better, and household income will increase. As global uncertainties grow, it is necessary to reduce our country’s exposure to external shocks, break the cycle of economic downturns, and safeguard microeconomic stability,” the President emphasised.

President Mahama also endorsed Finance Minister Dr. Ken Ofori-Atta’s introduction of the Ghana Accelerated National Reserve Accumulation (GANRA) policy, aimed at leveraging Ghana’s gold to strengthen foreign exchange reserves and promote economic stability.

Dr. Ofori-Atta described the initiative as historic, representing a structured, gold-backed, and reform-driven accumulation framework. “Gold, as a strategic anchor, is central to this policy. It is a deliberate gold-backed reserve accumulation strategy, anchored on the Ghana Gold Board Act, 2025 (Act 1140), which mandates GoldBod to generate foreign exchange and support reserve accumulation at the Bank of Ghana,” he explained.

To operationalise the policy, the Finance Minister revealed that the government has set a weekly gold purchase target of approximately 3.02 tonnes—comprising at least 2.45 tonnes from the Artisanal Small-scale Mining (ASM) sector and a minimum of 0.57 tonnes from the Large-Scale Mining sector.

Delivering the 2026 State of the Nation Address in Parliament on Friday, February 27, the President revealed that the refinery is once again processing crude oil into petroleum products following extensive maintenance works.

He noted that this marks the first time since 2018 that TOR has returned to full processing operations.

“I’m pleased to inform this August House that for the first time since 2018, the refinery has commenced processing of crude oil into petroleum products once more,” he told Parliament.

President Mahama further assured Ghanaians that reforming the energy sector remains a key priority for his administration, stressing his commitment to ensuring reliable, affordable, and sustainable energy for the country.

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Speaking during his State of the Nation Address in Parliament, the President said the adjustment was required to ensure competitive pricing and address acute liquidity challenges within the cocoa industry.

He explained that failure to revise the price would have forced the government to borrow millions of cedis — a move he warned could have reversed the progress made in recovering from Ghana’s economic crisis.

According to him, unplanned borrowing would have pushed the country back into a cycle of financial instability marked by large deficits and excessive debt.

“Last week, we had to make the painful but necessary decision to revise the producer price of cocoa in order to achieve competitive pricing and address the acute liquidity challenges in the sector. Failing to do this would have meant borrowing millions, which could have taken us back to the very economic problems we are only now beginning to escape,” he said.

While acknowledging concerns raised by cocoa farmers, President Mahama assured them that the reforms announced by the government would transform the sector and guarantee fair and transparent pricing that supports production costs and ensures reasonable returns.

“While I fully understand the concerns and protests of our farmers, I can assure them that the reforms announced by the government will bring about a total transformation of the cocoa sector. These reforms will guarantee them a fair and transparent price that will enable them to cover their production costs and earn decent margins. These are difficult decisions to make, but I had to take them,” he stressed.

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Delivering the State of the Nation Address in Parliament, he said the job gains form part of broader economic reforms aimed at restoring stability and improving livelihoods.

The President noted that government policies — including the abolition of taxes such as the e-levy, betting tax, emission tax and COVID-19 levy — have returned about GH¢6 billion to citizens’ pockets.

He added that interest rates have dropped from over 30 per cent to between 18 and 20 per cent, improving access to credit for businesses and households.

President Mahama also revealed that about 950,000 Ghanaians escaped multidimensional poverty within the same period. He further stated that Ghana’s current account recorded a surplus of 9.1 billion cedis by December 2025.

He attributed the gains to strong performances in gold, cocoa and non-traditional exports, as well as increased remittance inflows, expressing optimism that sustained high gold prices could help build economic resilience against global shocks.

“Interest rates have fallen from above 30 per cent to currently between 18 and 20 per cent, freeing up credit for businesses and households. According to the Ghana Statistical Service, over one million Ghanaians have found employment between the first and third quarters of 2025, and 950,000 Ghanaians have escaped multidimensional poverty during the same period.

“I am pleased to report that our external position has strengthened significantly. By December 2025, our current account recorded a surplus of 9.1 billion cedis, representing 8.1 per cent of our GDP. This achievement has been driven by robust gold, cocoa and non-traditional exports, as well as increased remittance inflows. This improvement demonstrates that our economy is gaining strength and resilience on the global stage,” he said.

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Delivering the 2026 State of the Nation Address (SONA) in Parliament on Friday, the President said currency stability has been a top priority for his administration, and they have successfully delivered on that promise.

“Mr. Speaker, we did not arrest the dollar. We strengthened the cedi to put up a good fight against other currencies. I am pleased to announce to this House that the cedi appreciated by 40.7% against the dollar,” he told Parliament, drawing loud cheers from lawmakers.

The cedi has shown notable resilience in the forex market, reversing months of volatility and easing pressure on importers and households.

While the recent appreciation has sparked debate over its sustainability, the President assured Ghanaians that efforts to consolidate the gains will continue, emphasizing that currency stability is key to controlling inflation, protecting purchasing power, and supporting long-term economic growth.

The cedi opened this week trading at GH¢11.70 in the retail market.

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“If I had to do it again, I would do it,” she declared on Joy News’ PM Express Business Edition on Thursday.

Her appearance on the picket line on February 10, 2023, stunned many as the retired Chief Justice stood with pensioners demanding a total exemption of their investments from the DDEP.

She held a placard that read, “We use our bond yields to pay our rent, medical bills, electricity bills and water bills.”

Asked by host George Wiafe what influenced her to take what many described as a bold and unexpected step, she was direct.

“First and foremost, I wasn’t there in that boardroom when that decision was made to give people haircuts, whether they liked it or not,” she said.

“But even if I had been, and I had disagreed, and despite my strenuous position, it went ahead to the extent that I think it’s wrong and that it’s in the interest of the public to know that it’s wrong. Yes, I would have come out and done it.”

For Sophia Akuffo, the issue was principle, not optics.

“So it’s something which I always say, if I had to do it again, I would do it.”

The decision became a defining public moment. Many believed a former Chief Justice would remain behind closed doors, offering advice rather than joining a street protest. She rejected that assumption.

“I will say that maybe it’s my home upbringing or how I understood my legal education,” she explained.

“You don’t sit there and just let unlawful things be done, and if you feel strongly about it and there’s no one to listen to you, you shout it out.”

She recounted how her participation came about. It was not pre-arranged. It was personal.

“I saw that there were some people picketing, and I saw somebody I knew on that picket line. Phoned her and said, “Was it you I saw?” She said, Yes.”

“And I said, Okay, are you going again? And she said, Yes. I said, Can I join? And so I went.”

For Sophia Akuffo, the picket was not a break from her judicial past. It was, in her words, consistent with it. And years later, she remains firm.

“If I had to do it again, I would do it.”

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Announcing the development in a Facebook post, Finance Minister Cassiel Ato Forson described the policy as a deliberate and strategic intervention to strengthen Ghana’s financial buffers and protect the economy against future shocks.

According to the Minister, GANRAP sets out a clear and measurable roadmap to raise Ghana’s international reserves to the equivalent of 15 months of import cover by 2028.

The target aims to significantly strengthen the country’s external position, improve macroeconomic stability, boost investor confidence, and enhance exchange rate resilience.

Dr. Forson explained that the new policy marks a decisive shift away from reliance on costly borrowing and short-term reserve accumulation measures. Instead, GANRAP adopts a structured, gold-backed and reform-driven framework designed to enhance resilience against global economic turbulence while building what he described as an “economic war chest” to protect stability and sustain long-term growth.

He expressed appreciation to Ghanaians for their support and reaffirmed the commitment of President John Dramani Mahama’s administration to safeguarding the country’s economic future.

February has been designated as National Chocolate Month by the Ghana Tourism Authority and the Cocoa Processing Company.

The initiative encourages Ghanaians to consume more locally produced chocolates, boosting domestic demand for premium cocoa beans, supporting local manufacturers, and promoting chocolate as a preferred gift during the month of love. Prudential Bank has fully embraced this vision.

Throughout February, customers visiting the Bank’s branches are welcomed with chocolates, creating a memorable and engaging banking experience. The initiative has been met with enthusiasm, as patrons expressed appreciation for the thoughtful gesture and the Bank’s efforts to celebrate them in a unique and relevant way.

Speaking on the significance of the initiative, Acting Managing Director Ebow Quayson emphasized the importance of supporting local industry while celebrating customers.

“February is Chocolate Month and cocoa is a cornerstone of our economy. Promoting local consumption contributes to value creation, offers job opportunities, and ensures economic resilience. As a proudly Ghanaian Bank, we are honoured to support this agenda while celebrating our customers, who remain the heart of our business,” he said.

He added that the Bank’s participation demonstrates its commitment to partnerships that foster sustainable development, innovation, and national pride. “Prudential Bank remains dedicated to initiatives that promote local industries and strengthen the country’s economic ecosystem,” he said.

Commenting on the customer experience aspect, Jamila Disu, Total Quality Management Manager, highlighted appreciation as a key pillar of the Bank’s service culture.

“At Prudential Bank, our customers are at the centre of everything we do. This Chocolate Month celebration is our way of showing gratitude for their loyalty and trust, while enhancing their experience and making them feel valued,” she said.

Beyond distributing chocolates, the campaign has created moments of joy, engagement, and brand connection across branches. Staff members have embraced the initiative, using the occasion to deepen interactions and foster stronger emotional affinity with customers.

According to the Monetary Policy Report of the Bank of Ghana, the decline was mainly driven by cedi appreciation reducing the external debt in local currency by GH¢100.8 billion (8% of estimated GDP).

However, domestic debt increased slightly from GH¢309.8 billion to GH¢314.5 billion. The rise reflected controlled domestic financing aligned with the 2025 budget.

The combined effects of exchange rate appreciation and slower debt accumulation reduced the stock of total public debt at the end of November 2025. The stock of public debt decreased from 61.8% (revised GDP) in December 2024 to 45.5% in November 2025.

Similarly, the rate of debt accumulation shifted from 19.1% in 2024 to negative 11.3% by November 2025.

The provisional debt stock of central government and guaranteed debt stood at GH¢630.2 billion (45.0% of GDP) at end-October 2025, down from GH¢726.7 billion (61.8% of GDP) at end-December 2024.

Out of the total public debt, external debt was GH¢319.2 billion (22.8% of GDP) and domestic debt totalled GH¢311.0 billion (22.2% of GDP). The sharp decline reflected in the external debt.

The decline in the public debt was largely due to the appreciation of the currency, effective debt management, reduced borrowing cost and fiscal discipline, reflecting in the posting of a significant primary surplus.

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He said the previous government deposited over GH¢138 million into the Fund.

Speaking during the presentation of the Business Statement for the ensuing week in Parliament, Mr Annoh-Dompreh challenged assertions that the former administration had failed to take meaningful steps to resource the Sinking Fund.

He maintained that the record shows clear financial commitments made under the previous government.

According to him, the claim that the GH¢138 million deposited into the Fund “didn’t do anything” does not reflect the full picture of the government’s debt management efforts at the time.

He argued that such contributions formed part of a broader strategy to meet Ghana’s debt servicing obligations.

Mr Annoh-Dompreh said it was important for the House and the public to be guided by facts when assessing the performance of successive administrations.

He stressed that the previous government had demonstrated commitment by allocating substantial resources into the Fund.

He therefore urged the current Finance Minister, Dr Cassiel Ato Forson, to provide an update on the status of the Sinking Fund and outline clear steps being taken to ensure sustained contributions in line with earlier promises.

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He made the remarks on the floor of Parliament during the presentation of the Business Statement for the ensuing week.

Mr Annoh-Dompreh recalled that during his vetting, Dr Ato Forson indicated that one of the policies of the new administration would be to prioritise payments into the Sinking Fund as part of efforts to strengthen debt management.

According to the Minority Chief Whip, the Minister had criticised the previous government’s handling of the Fund and pledged to do more if approved.

“During his vetting, he courageously said that one of the government’s policies would be to help put funds into the Sinking Fund. You had said that the previous government that put GH¢138 million into the Fund didn’t do anything and you were going to do more,” he stated.

However, Mr Annoh-Dompreh expressed concern that the pledge has not been fulfilled.

“But Mr Speaker, as we speak, not even a cedi has been paid into the Sinking Fund. Nothing,” he stressed, drawing the attention of the House to what he described as a worrying development.

He therefore called on the Finance Minister to return to Parliament to address the issue.

“The Minister must come back to the House to address matters relating to the Sinking Fund and respond to the concerns raised,” he added, urging greater transparency and accountability in the management of the country’s debt obligations.

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Over the past fortnight, the cedi encountered mild demand-driven pressures in the opening week, as anticipated.

However, it clawed back losses in the latter half as broad-based “sell America” sentiment underpinned external support.

In the interbank market, the cedi appreciated by 0.09% against the US dollar, 0.86% against the pound sterling, and 1.16% against the euro, closing at mid rates of GH¢10.97 to the US dollar, GH¢14.81 to the pound and GH¢12.93 to the euro.

The positive momentum filtered through to the retail segment, where the currency strengthened by 0.6% against the US dollar, 1.29% against the pound sterling, and 1.11% against the euro. It settled the period at mid-rates of GH¢11.63/US dollar, GH¢15.55/pound and GH¢13.50/euro.

“We concur that the cedi’s recent appreciation mirrors gains across other major Sub-Saharan African (SSA) currencies, highlighting broad-based external support from sustained US dollar weakness”, said Databank Research.

In the near term, it expects these tailwinds to drive further cedi strength as expectations of continued US dollar softness moderate demand for the greenback, amid heightened risks of a potential Iran confrontation.

“Supported by targeted forex intervention from the Central Bank through a US$1.0 billion facility gradually deployed to meet market demand, we anticipate the cedi’s gains extending to an interbank mid-rate range of GH¢10.85 – GH¢10.95/US dollar over the next fortnight. Retail rates should align around GH¢11.55-11.60/US dollar, with scope for tighter spreads if inflows accelerate.

Meanwhile, the cedi began this week going for GH¢11.70 in the retail market.

Its year-to-date gain stood at 4.95% to the American greenback.

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Speaking on Asempa FM’s Ekosii Sen show, she explained that Atlas Commodities had been preparing its own depot, which was inspected by the Quality Control Company (QCC) in Hohoe but required renovations before it could be approved as a grading centre.

Ms. Opoku Boateng said PBC officials informally offered temporary access to their facility, which had not been in active use for cocoa purchases. She added that the company assumed the necessary internal approvals had been secured by PBC management.

She also clarified the ownership status of Atlas Commodities, noting that former beneficial owner Ato Boateng no longer holds any rights in the company. The shares are currently held in trust by lawyer Edinam Cofie.

“Lawyer Edinam Cofie currently holds the trust for the shares. The previous beneficial owner of Atlas Commodities was Ato Boateng, but he has since transferred all his rights to Edinam. We prepared our depot, but the PBC facilities were not included in it. We sent a letter to QCC in Hohoe to inform them that we had secured a depot. Upon inspection, they noted that it needed some finishing touches and renovations before it could be used as a grading centre. In the meantime, the PBC suggested that we use their depot since they hadn’t purchased cocoa there for a while. Due to our relationship with them, we assumed they would inform their management about this decision; however, that did not happen. As a result, we utilized their depot with the manager’s permission and did not pay for the use of the facility,” she explained.

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In a statement issued Wednesday, COPEC projected that “Petroleum prices beginning the 1st window of March, 2026 are expected to see some marginal increments across the pumps.”

According to the chamber, “Petrol is expected to go up marginally by 3.59%, Diesel by 1.52% whiles LPG could witness a decline of -1.57% across various pumps respectively.”

Explaining the outlook, COPEC said global crude prices edged up by about 1.25%, rising from $70.90 per barrel to $71.79 per barrel. Over the same period, the cedi appreciated only slightly against the dollar.

“The Cedi, however, witnessed a marginal appreciation against the Dollar to close trading from an average interbank rate of $1:GHS11.0990 at the start of the current window to $1:GHS11.0723 (0.24%) as of the close of the window,” the statement noted.

For petrol, COPEC said the international Free On Board (FOB) price jumped significantly.

“With the international FOB price of petrol increasing from $652.64/MT to $685.27/MT (5.03%) and a currency appreciation of about 0.24%, the retail price of petrol works up to an increment of 3.59%.”

It projected that “the retail price of Petrol is expected to be selling between GHS11.8/L and GHS13/L, within a ±5% range of COPEC’s projection.”

Diesel is also expected to record a marginal rise.

“With the International FOB price of diesel increasing from $695.94/MT to $711.86MT (2.29%) and cedi’s appreciation averages of 0.24%, the projected retail pump price for diesel in the next window shall work up to an increment of 1.52%.”

COPEC said diesel prices are likely to range “between GHS12.73/L and GHS14.0/L within a ±5% range of COPEC’s projection.”

LPG, however, could offer some relief to consumers.

“With the international FOB price of LPG decreasing from $508.77MT to $503.59/MT (-1.5%) and the cedi’s appreciation of about 0.24%, the projected retail price of LPG is expected to decline marginally by -1.57%.”

Within the allowable margin of error, LPG is projected to sell “between GHS11.48/kg and GHS12.69/kg.”

Despite the expected adjustments, COPEC urged restraint at the pumps.

“In conclusion, it is the expectation of COPEC that the various Oil Marketing Companies would maintain prices across the pumps in order not to overburden the consumer with these expected increments in the coming window,” the statement signed by Executive Secretary Duncan Amoah said.

The projections suggest that while currency stability provides some cushion, global market pressures continue to dictate pump pricing trends.

According to the Chamber of Petroleum Consumers (COPEC), “Petroleum prices beginning the 1st window of March 2026, are expected to see some marginal increments across the pumps.”

COPEC projects that “Petrol is expected to go up marginally by 3.59%, Diesel by 1.52% whiles LPG could witness a decline of -1.57% across various pumps respectively.”

The projected increases are driven by movements in global crude prices and changes in international Free On Board (FOB) prices, despite a slight appreciation of the cedi.

COPEC noted that “Global Crude price has seen a marginal increase of about 1.25%, that is an increase from $70.90/barrel to $71.79/barrel.”

The cedi, however, “witnessed a marginal appreciation against the Dollar to close trading from an average interbank rate of $1:GHS11.0990 at the start of the current window to $1:GHS11.0723 (0.24%) as of the close of window.”

For petrol, COPEC explained that “With the international FOB price of petrol increasing from $652.64/MT to $685.27/MT (5.03%) and a currency appreciation of about 0.24%, the retail price of petrol works up to an increment of 3.59%.”

As a result, “the retail price of Petrol is expected to be selling between GHS11.8/L and GHS13/L, within a ±5% range of COPEC’s projection.”

Diesel is also expected to record a marginal rise.

“In the same manner, with the International FOB price of diesel increasing from $695.94/MT to $711.86MT (2.29%) and the cedi’s appreciation averages of 0.24%, the projected retail pump price for diesel in the next window shall work up to an increment of 1.52%.”

COPEC projects that “Diesel is thus expected to increase marginally with retail price selling between GHS12.73/L and GHS14.0/L within a ±5% range of COPEC’s projection.”

Liquefied Petroleum Gas (LPG), however, could offer slight relief to consumers.

“With the international FOB price of LPG decreasing from $508.77MT to $503.59/MT (-1.5%) and the cedi’s appreciation of about 0.24%, the projected retail price of LPG is expected to decline marginally by -1.57%.”

COPEC added that “within ±5% error, LPG is expected to be selling between GHS11.48/kg and GHS12.69/kg.”

Despite the projected increases, the Chamber urged restraint from Oil Marketing Companies.

“In conclusion, it is the expectation of COPEC that the various Oil Marketing Companies would maintain prices across the pumps in order not to overburden the consumer with these expected increments in the coming window.”

The projected adjustments, though described as marginal, signal continued sensitivity of local fuel prices to international market movements.

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Presenting the Ghana Accelerated National Reserve Accumulation Policy (GANRAP) (2026–2028) to Parliament, the Minister described the initiative as a historic and strategic shift in how Ghana manages its external buffers, moving away from costly borrowing and short-term reserve-building measures toward a structured, gold-backed, and reform-driven accumulation framework.

Strong Economic Foundation
Dr. Forson told Parliament that the policy builds on the decisive macroeconomic turnaround achieved in 2025 following the 2022–2023 crisis. Key indicators at the end of 2025 included:

• Real GDP growth averaging 6.1% in the first three quarters of 2025
• Inflation declining sharply from 23.8% in 2024 to 5.4%, and further to 3.8% in January 2026
• The 91-day Treasury bill rate falling from 27.7% at end-2024 to 6.4% in February 2026
• Public debt declining from 61.8% of GDP to 45.3%
• Gross international reserves rising to US$13.8 billion, equivalent to 5.7 months of import cover, up from 4.0 months in 2024

Despite these gains, the Minister cautioned that the traditional benchmark of three months of import cover is no longer sufficient in today’s volatile global environment.

Target: 15 Months of Import Cover by 2028
Under GANRAP, Government is targeting an ambitious increase in reserves to the equivalent of 15 months of import cover by end-2028. The policy sets intermediate milestones of:

• 8.6 months by end-2026
• 11.8 months by end-2027
• 15 months by end-2028

Statement on Ghana Accelerated …
The Minister described the target as the creation of an “economic war chest” to shield Ghana against commodity price shocks, global financing volatility, geopolitical tensions, and climate-related disruptions.

Gold as the Strategic Anchor
Central to the policy is a deliberate gold-backed reserve accumulation strategy anchored on the Ghana Gold Board Act, 2025 (Act 1140), which mandates the Ghana Gold Board to generate foreign exchange and support gold reserve accumulation by the Bank of Ghana.

Government has set an operational weekly gold purchase target of approximately 3.02 tonnes. This will be achieved through:

• Acquisition of at least 2.45 tonnes weekly from the Artisanal Small-Scale Mining (ASM) sector
• Invocation of pre-emption rights to secure a minimum of 0.57 tonnes weekly from the large-scale mining sector

Statement on Ghana Accelerated …
The gold acquired will be refined, added to Ghana’s physical reserves, and may only be sold with prior approval of Cabinet and Parliament.

Ending Costly Borrowing for Reserves
The Minister noted that between 2017 and 2024, Ghana relied heavily on Eurobonds, swaps, sale-and-buy-back transactions, and commercial bank borrowing to build reserves at significant cost.

From 2022 to 2024 alone, the Bank of Ghana accumulated US$5.65 billion in reserves through swaps and related transactions at a cost of US$1.16 billion in interest.

Additionally, Eurobond borrowings between 2018 and 2021 to support reserve build-up cost taxpayers about US$2.5 billion in interest payments alone, with Ghana still servicing these debts.

Dr. Forson stressed that borrowing to accumulate reserves is unsustainable and contributed to the 2022 debt distress. In contrast, he revealed that in 2025 alone, the Ghana Gold Board generated approximately US$10 billion in foreign exchange at a cost of US$214 million — significantly lower than the cost of comparable borrowing.

Broader Structural Reforms
Beyond gold, the policy integrates structural reforms aimed at expanding foreign exchange inflows and reducing persistent outflows. These include:

• Scaling up non-traditional exports
• Revitalising cocoa productivity
• Implementing the National Policy on Integrated Oil Palm Development
• Accelerating new oil field developments such as Pecan
• Conserving foreign exchange through a Gas-to-Power Transformation Policy

The Minister emphasised that maintaining fiscal discipline and sustaining a primary surplus remain critical to protecting the gains achieved.

Safeguarding Ghana’s Future
Dr. Forson concluded by urging Parliament to support what he described as a historic and forward-looking policy framework designed to strengthen Ghana’s first line of defence against external shocks.

The overarching objective, he said, is to build a resilient reserve management system that safeguards macroeconomic stability, sustains investor confidence, improves living standards, and secures lasting prosperity for future generations.

With the unveiling of GANRAP, Ghana becomes one of the few African countries to adopt a structured, legislatively anchored national reserve accumulation strategy driven primarily by domestic resource mobilisation rather than external borrowing.

William Boateng, Director of Communications at ECG, said the company has trained a special task force to operate both day and night in line with the government’s 24-hour economy policy.

Speaking on Asempa FM’s Ekosii Sen, Mr. Boateng disclosed that ECG plans to establish dedicated teams in every district, although this will increase operational costs. He added that discussions are ongoing regarding whether police protection will be required for officers working evening shifts.

He further revealed that over 1,000 franchise officers, popularly known as “disconnectors,” have been trained and redeployed with expanded responsibilities.

These officers are equipped to read meters, issue instant bills, address customer complaints, and disconnect supply where customers default or tamper with meters.

Mr. Boateng warned that customers involved in illegal connections will be identified and sanctioned, urging the public to support ECG’s campaign against power theft.

“We have introduced franchise officers, often referred to as ‘disconnectors,’ and trained over 1,000 of them, assigning them to specific zones with additional responsibilities. They can provide instant billing, read meters, and address customer complaints.

“If you have an outstanding balance, they will disconnect your meter. Additionally, anyone tampering with their meter will be caught. We are actively monitoring all illegal connections. It is important for everyone to join the advocacy efforts against illegal electricity connections,” he said.

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The survey, released on February 25, 2026, indicates that 44% of voters consider the new cocoa prices fair, while 31% describe them as unfair and 26 per cent remain neutral.

Among cocoa farmers, however, 56 per cent believe the prices are fair, 11 per cent see them as unfair, and 33 per cent are neutral.

Regional analysis shows higher levels of dissatisfaction in Ahafo, Ashanti, Bono, Greater Accra, Northern and Western North regions.

Western North recorded the highest disapproval, with 62 per cent of respondents describing the prices as unfair.

Political affiliation also influenced responses. Among supporters of the New Patriotic Party (NPP), 53 per cent said the prices were unfair, compared to 14 per cent of National Democratic Congress (NDC) supporters.

Floating voters were divided, with 29 per cent describing the prices as unfair.

Conversely, 24% of NPP supporters, 61% of NDC supporters and 42% of floating voters said the new cocoa prices are fair.

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The facility, named the New Float Glass Manufacturing Company, is being developed under KEDA (Ghana) Ceramics Company Limited.

During the ceremony, the President also inaugurated the fifth phase of the company’s tile production line and commissioned a modern sanitary ware factory.

Once operational, the float glass plant is expected to produce around 1,400 tonnes of glass daily, positioning it among the largest glass manufacturing facilities in Africa.

The project is projected to reduce imports, increase exports by an estimated 100 million dollars annually, strengthen local supply chains, and generate long-term employment opportunities. It is also expected to contribute to government revenue through taxes and related economic activity.

Addressing management and staff, President Mahama urged them to take ownership of the venture and dedicate themselves to its success.

He emphasised that Ghana’s industrial transformation relies on a stable environment, committed investors, and supportive host communities.

The President also reaffirmed his confidence in locally manufactured goods, stressing that products made in Ghana can compete globally when backed by skill, innovation, and high-quality standards.

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About 80% of these businesses are running three shifts, while roughly 20% operate one or two shifts.

Ishmael Nii Amanor Dodoo, Head of Innovative Finance, Partnership, and Markets for the 24-Hour Economy and Accelerated Development Export Secretariat, discussed the progress on The Big Agenda.

He explained that participating companies include both Brownfield and Greenfield projects, with the majority being manufacturing firms. Smaller companies, typically SMEs, often operate one or two shifts.

Mr. Dodoo highlighted the proposed incentive voucher for off-peak electricity use, which is expected to reduce operational costs for all businesses in the initiative. He noted that analysis of off-peak electricity consumption shows variations depending on location and population density.

“The policy is designed to create thousands of jobs while reducing import volumes. Investors have also started funding Captive Energy systems for these companies, aiming to provide electricity at 5–7 cents per kilowatt-hour, with the national grid backing them during any challenges,” he said.

He added that additional incentives are being designed to support participating firms. The Secretariat anticipates that by the end of 2028, thousands more companies will be operating 24 hours a day, driving economic growth and employment opportunities nationwide.

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In a statement titled “Misinformation Alert,” the CAGD described the claims as false, baseless, and entirely fabricated.

The Department clarified that it does not have the legal mandate or administrative authority to delete or unilaterally cancel salary arrears owed to public servants. It stressed that any suggestion otherwise is a serious misrepresentation of its statutory functions.

“The claim is misleading and inaccurate,” the statement emphasised, warning that the circulation of unverified information could cause unnecessary anxiety among public sector workers, particularly nurses and teachers.

The CAGD urged media houses and content platforms to exercise due diligence by verifying allegations with the appropriate authorities before publication or broadcast. It further cautioned against spreading misinformation or disinformation that could undermine public confidence in state institutions.

Reaffirming its commitment to transparency and accountability, the Department assured the public that it remains focused on the lawful discharge of its mandate within Ghana’s public financial management framework.

MISINFORMATION ALERT

The attention of the Controller and Accountant-General’s Department (CAGD) has been drawn to a video purportedly from Sompa FM in which a gentleman alleges that the CAGD has deleted arrears owed to nurses and teachers.

The CAGD states unequivocally that this claim is false, baseless and entirely fabricated.

For the avoidance of doubt, the CAGD does not have the legal mandate or administrative authority to delete or unilaterally cancel salary arrears owed to public servants. Any suggestion to the contrary is misleading and constitutes a serious misrepresentation of the Department’s functions.

We strongly caution against the circulation of unverified and inaccurate claims capable of causing unnecessary anxiety among public sector workers.

We urge media houses and content platforms to exercise due diligence, verify claims with the appropriate authorities, and refrain from amplifying misinformation and disinformation.

The CAGD remains committed to transparency, accountability and the lawful discharge of its mandate.

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Presenting the Bill on the floor of the House, Dr. Forson said the proposed legislation seeks to tackle persistent challenges such as inflated contracts, abandoned projects, cost overruns and wasteful public expenditure.

According to him, the Bill aims to institutionalise a comprehensive value-for-money framework to ensure that every cedi spent by government delivers maximum benefit to citizens in terms of economy, efficiency, effectiveness, equity and sustainability.

He explained that the proposed Value for Money Office will operate as a specialised and independent oversight body with a clearly defined technical mandate.

The Office will conduct value-for-money assessments, issue mandatory Value for Money Certificates before the award of major contracts, monitor compliance and enforce sanctions where violations occur.

Dr. Forson emphasised that the overarching objective of the Bill is to strengthen fiscal discipline, minimise waste, boost public confidence and reinforce the country’s governance and accountability framework.

He further noted that the legislation is expected to curb contract inflation, promote uniform pricing across government entities and transform Ghana’s public financial management landscape. By strengthening oversight and enforcing compliance, the Office is projected to generate measurable cost savings, improve the quality of public sector projects and ensure more equitable distribution of resources.

The Minister indicated that the Bill aligns Ghana with established international best practices in public expenditure management. He cited institutions such as the National Audit Office and the Government Accountability Office, as well as value-for-money frameworks in Canada and other advanced jurisdictions, as examples of systems that have enhanced accountability and optimised the use of public funds.

He concluded that the establishment of the Value for Money Office will not only strengthen public trust and investor confidence but also ensure that public investments deliver tangible social and economic returns for the Ghanaian people.

The certification, awarded by CertiTrust following an independent audit, validates Ghana Link’s Information Security Management System (ISMS) and confirms the organisation’s structured approach to safeguarding data confidentiality, integrity, and availability across critical operational processes.

“This is not just a certificate moment, it is a trust moment,” said Mrs Cynthia Addy, speaking on behalf of the Managing Director of Ghana Link Network Services Ltd. “In our environment, performance cannot depend on effort alone. It must be built on standards, clear controls, repeatable processes, strong governance, and measurable accountability. ISO/IEC 27001 confirms that we do not just talk about security; we live it, we audit it, and we improve it continuously.”

Ghana Link said the certification strengthens stakeholder assurance across the national trade ecosystem, including the Customs Division of the Ghana Revenue Authority, clearing agents, importers and exporters, shipping lines, airlines, transport operators, and other government ministries and agencies that rely on ICUMS for daily trade facilitation and revenue processes.

“Our message to stakeholders is simple: your information is safe with us,” Mrs Addy added. “The data that powers Ghana’s trade through ICUMS is a lifeblood of the economy, and we treat it with the highest levels of confidentiality, integrity, and availability. This certification is our commitment that we will never be complacent.”

Providing technical details of the milestone, Dr Alvin Kwabena Ansah, Chief Technology Officer of Ghana Link, said the new Data Centre was engineered for high availability, fault tolerance, and continuity, supported by structured information security governance aligned with ISO/IEC 27001:2022.

“Our Data Centre was engineered for fault tolerance and business continuity, eliminating single points of failure and ensuring operational stability for Ghana’s digital trade ecosystem,” Dr Ansah said.

“We executed a seamless migration of critical systems with near-zero downtime without service disruptions. But infrastructure alone wasn’t enough. Through ISO 27001, we embedded structured risk management, strengthened access governance, integrated business continuity, and subjected ourselves to independent external audits.”

Dr Ansah emphasised that certification is not the endpoint. “Certification is not a destination for us. It is a standard we now commit to maintaining. Ghana’s digital backbone is resilient, secure, and globally benchmarked.”

Mr Erick Odea, Lead Auditor at CertiTrust, said the ISO/IEC 27001:2022 journey demands leadership commitment, consistent controls, and a security culture, not mere documentation.

“The journey toward compliance with ISO/IEC 27001:2022 is not a simple administrative exercise or a checkbox activity,” Mr Odea said. “It requires strategic direction from top management, structured risk assessment, documented controls, staff awareness, and operational consistency. I’m pleased to state that the audit demonstrated Ghana Link’s Information Security Management System is effectively established, implemented, maintained, and aligned with the standard.”

He cautioned that the real value lies in sustained discipline. “The true value of ISO 27001 lies not in the certificate displayed on the wall, but in daily risk-based thinking, secure operational practices, staff awareness, and ongoing monitoring and improvement.”

Strategic significance for trade

Ghana Link said the certification supports the government’s broader trade facilitation agenda by reinforcing system dependability, strengthening confidence in customs processes, and improving Ghana’s attractiveness for trade-linked investment and supply chains.

The company also acknowledged the contributions of key partners and technical collaborators, including Dell Technologies and Get4Less, as well as internal engineering and operations teams who supported the audit readiness, control implementation, and systems migration.

Certification affirms internationally audited information security controls, continuity planning, and risk governance for Ghana’s trade and revenue backbone

According to CEMSE, the overpayment resulted from inflated exchange rate and inflation assumptions used in tariff calculations by the Public Utilities Regulatory Commission (PURC).

“We needed to understand if the tariff increments actually improved ECG’s revenue. What we realised is that the increase did not improve revenue in any meaningful way. It only burdened consumers and Ghanaians at large,” the report stated.

CEMSE explained that PURC applied a projected exchange rate of GH¢11.9735 to the dollar for Q4 2025, which was later adjusted to GH¢12.3715 to account for under-recovery claims. However, the actual average exchange rate during the period was GH¢10.8733, resulting in an over-recovery of GH¢1.1002 per dollar.

“When applied to total quarterly electricity consumption, consumers effectively paid for costs utilities did not incur — roughly GH¢1.5 billion,” Nsiah explained.

The report also pointed to discrepancies in inflation assumptions. While PURC applied a 12.43 percent annual inflation rate, the actual quarterly average stood at 6.6 percent — nearly half the projected figure.

CEMSE further noted that successive tariff increases have not guaranteed stable revenue for the Electricity Company of Ghana (ECG). Revenue fluctuated from GH¢1.4 billion in April 2025 to GH¢1.3 billion in May after a 14.75 percent hike, peaked at GH¢1.6 billion in June, and dropped again to GH¢1.3 billion in August.

The organisation is therefore calling for a tariff reduction of about 11 percent in the first quarter of 2026 to reflect current economic conditions, with the exchange rate now around GH¢10.99 to the dollar and projected inflation at 3.4 percent.

“Over-recoveries should be formally recognised and credited to consumers before new tariff adjustments are introduced. Failure to act could erode public confidence in the regulatory framework and increase pressure on households and businesses,” he emphasised.

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He made the announcement during the Presidential Dialogue with the Private Sector held at the Jubilee House on Monday, February 23.

While acknowledging emerging signs of economic stabilisation, President Mahama cautioned that stability alone does not equate to transformation. He stressed that long-term, sustainable growth will depend on deliberate structural reforms anchored on a dynamic and competitive private sector.

“No government can achieve meaningful economic progress without a strong partnership with the private sector, which is the engine of sustainable growth, employment generation, and innovation,” he noted.

The President highlighted that for more than five decades, Ghana’s manufacturing sector has consistently contributed about 10 percent to GDP — a figure he considers insufficient to drive large-scale industrialisation and job creation.

“Emerging Asian economies, starting from a similar basis, have achieved a manufacturing share of 20 to 30 percent of GDP, thereby creating mass employment and export competitiveness. We need to change our trajectory.

“I therefore set a national target: manufacturing must contribute at least 15 percent of GDP by 2030, supported by 500,000 new quality industrial jobs. This will require structural reform, not incremental adjustments,” he said.

The 15 percent benchmark is part of the government’s broader agenda to reposition the economy toward industrial expansion, value addition, and sustainable employment creation, with a renewed focus on private sector-led growth.

His remarks follow the interception of 18 articulated trucks that were declared as transit cargo to Niger but were suspected to be part of a wider diversion scheme.

Post-clearance inspections uncovered inconsistencies in the declared unit values, tariff classifications, and weights of the goods, raising the estimated revenue exposure from GH¢2.6 million to more than GH¢85 million.

Addressing participants at a Presidential Encounter with the Private Sector held at the Kempinski Hotel Gold Coast City, President Mahama outlined measures to curb illicit trade and strengthen accountability, particularly among public officials.

“We will intensify coordinated border enforcement, treat trade infractions as economic crimes, dismiss and prosecute public officers found culpable, deploy technology-driven customs surveillance solutions, and rigorously enforce product standards.

“This government is determined to protect Ghanaian enterprises so they can thrive and grow,” he stated.

The President stressed that protecting local businesses from unfair competition and revenue leakages remains a top priority, assuring the private sector of the government’s commitment to creating a transparent and competitive trading environment.

The Bank of Ghana’s auction results for Tender 1995, held on Friday, February 20, showed strong investor demand across all three maturities: 91-day, 182- day, and 364-day bills.

A total of 25.2 billion GHS in bids were tendered, of which the Government accepted GHS 11.41 billion.

For the 91-day bill, investors submitted bids totalling GH¢8.61 billion, of which GH¢3.19 billion were accepted.

The 182-day bill recorded bids of GH¢7.22 billion, out of which GH¢2.45 billion were taken up.

The 364-day bill saw the largest appetite, attracting GH¢9.38 billion in bids, of which GH¢5.78 billion were accepted.

The weighted average interest rates were reported as 6.45 per cent for the 91-day, 8.18 per cent for the 182-day, and 10.21 per cent for the 364-day bills.

The Government has set a target of GH¢5.81 billion for the next auction, Tender 1996, covering the same maturities.

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The transaction was executed by Tullow’s wholly owned subsidiary, Tullow Ghana Limited, on behalf of itself and its joint venture partners. Completion is expected at the end of the first quarter of 2027, subject to regulatory approvals and other conditions precedent.

The FPSO, which serves as the production facility for the TEN fields on the Deep Water Tano Block offshore Ghana, is currently owned and operated by Modec under a 10-year lease contract. Once the acquisition is finalised, Tullow intends to integrate operations more closely with the adjacent Jubilee Field to unlock operational synergies and drive cost efficiencies.

Tullow’s net share of the consideration, approximately 125.6 million US dollars, is equivalent to about one year of current net lease costs and is expected to be funded from in-year cash flow generated by the TEN fields.

The company’s partners in the Tullow Ghana Limited joint venture are the Ghana National Petroleum Corporation, GNPC Explorco, Kosmos Energy and PetroSA.

Announcing the agreement, Tullow described the transaction as consistent with its strategy to optimise production and reduce fixed operating costs by eliminating annual lease payments for the vessel.

Chief Executive Officer Ian Perks said the deal would strengthen the company’s long-term financial outlook.

He said: “This value accretive transaction is another important milestone for Tullow, in line with our strategic priority to optimise production activities and deliver improved economics as we leverage our operational expertise. The acquisition of the FPSO will deliver material cost savings by removing the annual lease cost and resetting our fixed costs at the TEN fields. By extending the economic life and removing the annual lease cost we will create additional free cash flow potential for the company beyond 2027. This transaction is another key deliverable for Tullow, strengthening the foundations for future value creation.”

The Prof. John Evans Atta Mills FPSO was built by Modec and achieved first oil in August 2016. It is the second Modec vessel supporting Tullow’s Ghana portfolio, following the FPSO Kwame Nkrumah, which began production on the Jubilee Field in 2010.

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Industry stakeholders say vessels carrying clinker are forced to wait between 13 and 20 days before berthing, leading to mounting demurrage charges that may ultimately be passed on to consumers.

The concerns were raised at an emergency meeting held on Monday, February 23, 2026, convened by the Minister for Trade, Agribusiness and Industry, Elizabeth Ofosu-Adjare, together with the Minister for Transport, Joseph Bukari Nikpe.

The meeting brought together cement manufacturers and other key players to address operational challenges that have left shipments stranded at the ports for up to three weeks.

Chief Executive Officer of the Chamber of Cement Manufacturers Ghana (COCMAG), Bishop Dr. George Dawson-Ahmoah, painted a grim picture of the situation, stating that the cement industry is “leaking” financially due to escalating demurrage costs.

Manufacturers cautioned that the longer vessels remain offshore awaiting available berth space, the higher the financial burden, a cost that could reflect in cement prices on the domestic market.

Although stakeholders acknowledged ongoing dredging works at the port, they called for immediate interim solutions.

Proposals included granting temporary access to additional berths and allowing non-dust generating materials such as gypsum and slag to be handled at alternative berthing points to ease congestion.

In response, Mr. Nikpe assured industry players that government is accelerating dredging works to expand berth capacity and accommodate larger vessels.

He explained that the existing berths are unable to handle bigger ships efficiently, contributing to long turnaround times and congestion.

According to him, once the dredging project is completed expected by the end of June, the port will be capable of receiving vessels exceeding 20,000 tonnes, up from the current 8,000-tonne limit. He said this would significantly reduce waiting times and vessel traffic.

He further noted that parts of the dredging works, particularly around Berth 14, should be completed within one to two weeks, providing some relief ahead of the full project completion.

For her part, Mrs. Ofosu-Adjare underscored the direct link between port inefficiencies and rising production costs.

“If we want good prices, we must also perform our part of the bargain to ensure that production costs remain efficient,” she stated.

She stressed that government’s objective is not only to prevent price increases but also to address systemic bottlenecks affecting industrial operations. She observed that even a single day’s delay in business activity can result in millions of dollars in losses.

President of the Association of Ghana Industries (AGI), Pharm. Kofi Nsiah-Poku, welcomed the swift response by the two Ministers and expressed confidence that the interim steps and completion of dredging works would restore efficiency and ease cost pressures.

However, industry stakeholders maintain that unless congestion at the ports is resolved promptly, rising demurrage charges could drive cement prices upward, with consumers likely to bear the impact.

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The announcement was made in a statement released by the Authority on February 23, 2026, marking what officials described as a new chapter in the leadership of the Customs Division, a key arm of the GRA responsible for revenue generation, border protection and trade facilitation.

The statement characterised Mr. Kanor as a highly experienced Customs officer with more than 30 years of service in revenue mobilisation, border security and trade operations within the GRA.

It noted that he brings extensive expertise, strategic insight and a strong commitment to public service to the position.

According to the release, his appointment reflects “a career defined by integrity, operational excellence, and strategic leadership.”

Prior to his appointment, Mr. Kanor served as Officer in Charge of Port Operations, where he oversaw core Customs responsibilities, including enforcement of customs regulations, revenue collection and trade facilitation.

The Authority credited him with strengthening border control mechanisms and enhancing compliance within Ghana’s international trade system during his tenure in that role.

Over the years, he has held several senior positions across the country, including Sector Commander at Kotoka International Airport and Wa Collections, as well as Chief Revenue Officer in various operational jurisdictions.

In those capacities, he led intelligence-driven operations that targeted smuggling, uncovered invoice manipulation schemes and disrupted networks involved in vehicle identification fraud.

The Authority said these efforts contributed to improved revenue performance and reinforced national security.

The statement further highlighted Mr. Kanor’s role in advancing modernisation within the Customs Division.

His involvement in the rollout of electronic valuation systems and related reforms helped streamline processes, reduce cargo clearance times and align Ghana’s customs operations with international standards while promoting legitimate trade.

Describing the appointment as a significant move to strengthen Customs administration, the Authority said it is expected to enhance compliance and support economic growth through secure and efficient trade systems.

The Board, Management and staff of the GRA extended their congratulations to Mr. Kanor and also expressed appreciation to the outgoing Commissioner, Brigadier General Glover Ashong Annan, for his service and leadership of the Division.

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This came to the fore when the Bank participated in a high-level panel discussion, themed “Investment Opportunities in the Tree Crops Sector in Ghana,” held as part of the week-long Tree Crops Investment Summit and Exhibition in Accra, organised by the Tree Crops Development Authority.

The Executive Head of Corporate and Institutional Banking at the Bank, Edward Commey, stressed that the Bank is fully aligned with the government’s plans to diversify the cash crop sector to complement cocoa’s contribution.

“I congratulate the Tree Crops Development Authority for the strides made so far,” he stated. “Today, we have all the relevant stakeholders under one roof, which goes to reinforce the fact that the necessary attention is being given to the tree crop sector. This is very great. Our Bank is in alignment with the vision.”

Mr. Commey was on the panel with other thought leaders in the industry, policymakers, and development partners to explore strategies for unlocking value across coconut, rubber, cashew, oil palm, shea, and other priority crops.

The discussion highlighted the growing interest among young people and vulnerable groups in entering the sector, while also addressing challenges related to financing and risk.

Mr. Commey further stressed that access to reliable information in a timely manner remains one of the most critical requirements for financial institutions to support the sector, adding that banks are willing and ready to provide funding, but the availability of credible data and structured business models remains key to decision-making.

To this end, he pledged that Prudential Bank will partner with the TCDA to close this gap, saying, “We recognise this challenge and we pledge to work with the Tree Crop Development Authority to build the capacity of outgrowers and other players in the value chain to make them bankable and appealing to financiers.”

He also stressed the importance of green and sustainable financing, noting that climate-aligned investments within the sector present opportunities for long-term growth and resilience.

Mr. Commey indicated that such initiatives make it easier for financial institutions to mobilise resources and attract strategic partners.

The panel also explored the role of education and capacity building in improving financial inclusion within rural communities and underscored the need for continuous training and financial literacy, stating that knowledge and skills are critical in ensuring sustainable agribusiness operations — a commitment Prudential Bank has pledged to lead.

Ghana’s tree crops sector is rapidly emerging as a cornerstone of agricultural transformation, offering vast potential for inclusive growth, export diversification, and sustainable financing.

The Executive Director of PFAG, Bismark Owusu Nortey, expressed concern that the country’s greenhouse projects have yet to translate into sustainable, year-round tomato production.

Speaking on Joy FM’s Midday News on Monday, February 23, he said structural bottlenecks continue to limit farmers’ ability to produce consistently and at scale.

“It’s unfortunate that over the years of investment in greenhouse facilities for tomatoes, we are still not able to be self-sufficient in the production of that crop,” he said.

His comments come amid rising tomato prices across several markets in Accra following last week’s deadly attack on Ghanaian traders in neighbouring Burkina Faso. Market women say the disruption in cross-border supply has triggered shortages, pushing prices upward and leaving many consumers struggling to cope with the increasing cost.

Mr. Nortey identified the absence of industrial tomato processing factories as a major gap in the agricultural value chain. Without processing plants to absorb excess produce during peak seasons, farmers lack incentives to invest in continuous production.

“We do not have industrial tomato processing factories where we can create a system for farmers to produce all year round to feed those industries,” he explained.

He noted that the lack of processing capacity not only leads to waste during bumper harvests but also discourages farmers from expanding operations beyond seasonal farming.

According to him, achieving self-sufficiency requires more than greenhouse infrastructure. It demands coordinated investment in irrigation systems, storage facilities, seed development, and agro-processing industries.

He stressed that until these interconnected challenges are addressed, Ghana will continue to depend on imports during lean seasons — a situation that exposes the country to external market shocks and price volatility.

Mr. Nortey called for a comprehensive agricultural strategy that links production, storage, and processing to ensure sustainable growth and food security.

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Speaking in an interview on Adom FM’s morning show Dwaso Nsem, Dr. Afriyie said the debate over cocoa pricing goes beyond economics and touches on ethics and morality.

“We are talking about ethics and morality. Why would a government make promises it cannot fulfil? That is what makes me think that the electorate and our farmers have been scammed” he said.

He argued that political actors must be honest with cocoa farmers, especially when making campaign promises about pricing.

According to him, if President John Dramani Mahama is serious about resetting the country, it must begin with a change in mindset and institutional culture.

“If Mahama is talking about resetting, he should start resetting the minds and the industries. It is not philosophy. If we reset our minds, there is nothing we cannot do,” Dr. Afriyie stated. “Whatever is happening now is a lack of morality and ethics. This is pure dishonesty.”

Dr. Afriyie further accused the National Democratic Congress (NDC) of using spot prices for political advantage while in opposition.

“When they were accusing the former president of harming farmers, they did not talk about average prices or day-to-day fluctuations. They used spot prices for political advantage, which is gross dishonesty because that is not what they promised,” he said.

He also suggested that the original purpose of the Ghana Cocoa Board (COCOBOD) has been undermined.

“The reason COCOBOD was set up has been defeated. The assumption is that cocoa prices will always rise, but that is not the case. There are experts there, but they have refused to use them. It is not rocket science,” he added.

Dr. Afriyie noted that even if price adjustments are necessary, deviations should be minimal to cushion farmers.

“At least, even if you will deviate, you should deviate a little so cocoa farmers can be shielded from commodity shocks,” he said.

Meanwhile, Majority Leader Mahama Ayariga has dismissed recent protests over cocoa prices as politically motivated, insisting that genuine cocoa farmers understand and support the government’s response to the global cocoa crisis.

However, Dr. Afriyie described the situation as a “systems failure that clashed with politics.”

“I know Ato Forson and Mahama Ayariga. They know the truth. They should come clean and apologise,” he stated.

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Speaking in an interview on Adom FM’s morning show Dwaso Nsem, Dr. Afriyie said discussions about value addition must be carefully interrogated rather than accepted at face value.

“They should make sure market forces work properly. They should bring everything on board for us to discuss,” he stated.

According to him, global market dynamics, including the role of speculators significantly influence cocoa pricing and must be factored into policy decisions.

“Already there are speculators in the market. That is one area we need to work on,” he said.

Dr. Afriyie further pointed to the dominance of a few multinational companies in the global cocoa trade.

“There are about seven major companies in the world controlling the industry, and that is where much of the money goes. It is a $40 billion industry, yet Ghana and Côte d’Ivoire, at the end of the cocoa season, do not get more than $7 billion,” he argued.

While government has disclosed value addition and local processing as a solution, Dr. Afriyie urged caution.

“They say value addition and want to process more cocoa locally. We need to interrogate that,” he said. “If you concentrate only on cocoa butter and cocoa powder and you are not careful, we may not get the expected returns.”

He questioned the actual benefits of processing a portion of Ghana’s cocoa domestically.

“About 40 percent of cocoa is being processed here. What value has it truly brought us?” he asked. “Those in the industrial enclaves, cocoa processing companies and free zones should examine how much value has actually been added.”

Dr. Afriyie also noted that Ghana’s cocoa is globally recognised for its premium quality, suggesting that in some cases exporting raw beans may even yield better returns than limited value-added processing.

“Ghana produces quality cocoa. Sometimes, depending on market conditions, you may realise that exporting the beans could bring in more value than processing them under certain arrangements,” he explained. “It is a very difficult issue.”

His comments come at a time when the government maintains that the revised cocoa producer price is a necessary response to global market fluctuations and inherited liabilities, even as pressure mounts from sections of cocoa-growing communities demanding relief.

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The week-long training featured selected African agribusiness owners and entrepreneurs in a high-impact programme designed to equip participants with the technical, managerial, and market-access skillsets required to compete successfully in the European Union (EU).

Lab Innova is a specialised training programme for the agro-food sector in Africa, promoted by the Italian Trade Agency in close collaboration with key Italian partners, including Macfrut—one of Europe’s leading agro-food trade fairs.

Mr. Gabriele Palermo, Deputy Ambassador, Embassy of Italy, Ghana, delivered his closing remarks at the just-ended training program.

In an interview, ITA’s Accra director, Mr. Luigi Puca, said the week-long interactive session was designed to familiarize participants with specific export requirements that would empower them to trade in the European market.

“Through these trainings, we update African countries on Italy’s economic policy and legal frameworks in order to enhance their competitiveness and readiness for international trade. It’s also a win-win situation because through information exchanges, our small and medium enterprises will grow together with their African counterparts,” said Mr. Puca.

Broadly, the training aims to increase the technical and managerial capacity of African agri-food companies by equipping participating businesses with the requisite skillset and operational interventions that meet EU standards. This is expected to facilitate their access to European markets and build mutually beneficial partnerships with Italian firms.

Participants were taken through intensive courses focused on business management, negotiation, international marketing, food safety regulations, logistics, packaging solutions, and environmental sustainability, facilitated by ITA experts specialised in the selected topics.

According to Mr. Puca, the training offered an opportunity to showcase market-leading innovations and update participants about specific food safety protocols, especially for agribusinesses and actors within the agro-exports value chain.

He added: “We have a framework of regulations and laws that have to be known by foreign companies and foreign producers. With this training, we are not only focusing on the technical or marketing aspect, but also talk about the legal framework that surrounds international trade.”

Beyond skills development, Lab Innova serves as a launchpad for technology transfer and innovation, drawing inspiration from Italy’s highly successful agri-food district model. These districts—clusters of interconnected producers, processors, technology providers, and research institutions—have been central to Italy’s global competitiveness in agro-food exports.

The training is seen as a timely intervention considering the EU’s stringent export measures on food safety and quality standards, packaging, traceability, and sustainability—requiring that local agribusinesses get acquainted with the needed strategies to access the European market.

On his part, training coordinator Uberto Trulli described Lab Innova as a forward-looking and mutually beneficial initiative that will enhance the technical and trade capacity of value chain actors within the African agro-food export space.

“This collaboration seeks to enhance exposure and global competitiveness for African agribusinesses. The main goal and target for this project is to give technical instruments and assistance to agri-food African businesses and to create bonds and interactions with Italian companies,” he emphasized.

To him, Lab Innova is a win-win relationship that supports the Italian marketplace with high demand for tropical fruits in the EU market, whilst African businessmen can adopt Italian agri-food technology, irrigation systems, and the tools.

A participant and president of the Vegetable Producers and Exporters Association of Ghana—who is also the vice-president of the Federation of Association of Ghanaian Exporters, Dr. Felix Kamassah—said the initiative was highly impactful and insightful.

“The European market is a different market altogether, and I’m so excited because Lab Innova provides the opportunity for agribusinesses and entrepreneurs in Africa’s agro-exports value chain to access and thrive in this competitive market,” he shared.

He added: “I’ve gained practical knowledge about the demand of the European market and how I could explore existing gaps and opportunities as an entrepreneur and exporter—including understanding product branding and packaging.”

This year’s Lab Innova will culminate with a five-day study tour at this year’s Macfrut event to be held in Rimini, Italy—that includes a guided tour of the exhibition, visits to company sites, and business-to-business and networking sessions.

It was organized in partnership with local business associations and state institutions, namely the Ghana Export Promotion Authority (GEPA), the Federation of Association of Ghanaian Exporters (FAGE), and the Chamber of Agribusiness Ghana (CAG).

ITA is the official government body responsible for promoting the trade interests of Italian businesses around the globe as well as attracting foreign investments into Italy—focusing highly on agribusiness, manufacturing, and technology transfer. It also serves as a bridge between Italy and global markets, leading trade, investment, and cooperation.

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His remarks follow the government’s announcement of a downward review of cocoa producer prices for the remainder of the 2025/2026 crop season.

At a press conference in Accra on Thursday, February 12, 2026, Finance Minister Cassiel Ato Forson stated that the producer price had been reduced to GH¢41,392 per tonne and GH¢2,587 per 64kg bag. The decision, he explained, was driven by a sharp fall in international cocoa prices and liquidity challenges within the cocoa sector.

The 2025/2026 season began in August 2025 with a producer price of GH¢51,660 per tonne, based on 70 percent of a gross free-on-board (FOB) price of $7,200 per tonne, using an exchange rate of GH¢10.25 to one US dollar.

Since then, global cocoa prices have dropped significantly, from around $4,100 per tonne at the time of the initial reduction to below $3,200 per tonne currently. The Finance Minister noted that the adjustment reflects international market realities while attempting to cushion farmers from the full impact of the downturn.

Speaking in an interview on Badwam on Adom TV, Kwame Opoku CID questioned the government’s pricing methodology, asking what calculations informed the previous increase from GH¢3,100 to GH¢3,600 per bag. He argued that miscalculations and poor anticipation of global trends, rather than solely falling world prices, contributed to the current situation.

Kwame Opoku CID also noted that the government missed an opportunity to capitalize on the surge in global cocoa prices in early 2025, which could have protected farmers from the current drastic price reduction.

He further stated that both the COCOBOD Chief Executive Officer and President John Dramani Mahama should be held accountable for the significant drop, recalling earlier government assurances that cocoa prices would rise.

According to him, some farmers reportedly withheld their cocoa beans in expectation of the promised increase, only to face a reduction instead.

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Speaking on JoyNews, Nana Tuffuor, head of the Ghana National Tomato Traders and Transporters Association, said many towns along the trade corridor are now classified as high-risk “red zones.”

“But first of all, we want our drivers, our traders, … a lot of towns and villages in the northern part of Burkina Faso … are marked red. When I say red, it means there is danger over there,” he said, stressing that the association is giving its members a list of places they should avoid.

His comments come in the aftermath of a terrorist ambush in the northern Burkinabè town of Titao on 14 February 2026, in which at least seven Ghanaian tomato traders were killed while on a routine trading trip to buy produce.

The traders’ vehicle was reportedly targeted and set ablaze after insurgents separated passengers and opened fire on the men, in what security officials say was a jihadist-linked attack. Survivors were evacuated to Ghana by the Ghana Armed Forces for medical care.

Following the tragedy, the association announced a suspension of tomato imports from Burkina Faso, warning that further trips along the traditional route could place more lives at risk.

“This is a sign of warning that is given to them,” Nana Tuffuor said of the list being provided to drivers and traders.

“We are here to listen to the rest of the bilateral discussions that our Foreign Minister and his Burkina counterpart have.”

The government has since engaged in bilateral talks with Burkinabè officials to improve border security and protect Ghanaian traders operating in volatile parts of the Sahel.

The tomato trade between Ghana and Burkina Faso has long been a lifeline for local markets, especially during periods of low domestic production.

But the attack, widely condemned by both Ghanaian and Burkinabè authorities, has sparked concerns about the safety of cross-border commerce and food security.  

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The agreement was signed by the Minister for Food and Agriculture, Eric Opoku, and the Executive Director of B5 Plus Limited, Mukesh Thakwani.

It sets out a collaborative framework for developing and managing the cashew processing facility under a Build-Operate (BO) model.

Ghana is one of the major producers of raw cashew nuts in Africa, yet a significant portion is exported without value addition.

The MoU recognises the urgent need to shift from raw exports to domestic processing to enhance farmer incomes, expand employment opportunities, and diversify exports.

Under the arrangement, B5 Plus Limited will finance, design, construct, equip, own, and operate the plant at its own cost and risk, subject to regulatory approvals.

The Ministry will facilitate policy coordination, land support, stakeholder engagement, and inter-agency approvals to ensure smooth implementation.

The initiative aligns with Ghana’s economic transformation agenda, including industrialisation, import substitution, and sustainable export growth.

The project places strong emphasis on sustainable sourcing arrangements with farmers and aggregators, including transparent grading systems, prompt payments, and farmer engagement programmes. It also promotes employment creation and skills transfer to build local technical and managerial capacity.

Speaking at the signing ceremony, the Minister for Food and Agriculture, Eric Opoku, stressed the project’s strategic importance within the Feed Ghana Programme.

He said, “Feed Ghana is not just about growing more crops; it is about building industries around what we grow.”

According to him, local processing is central to restoring value to farmers and rural communities, stressing that “When we process our cashew locally, we create jobs, strengthen farmers, and keep Ghanaian wealth within Ghana,” he said.

He stressed that by processing cashew locally, Ghana stands to capture greater value within its borders, from shelling and grading to packaging and export of finished products, rather than exporting raw nuts and re-importing processed goods at higher costs.

Industry analysts note that domestic processing will help stabilise farm-gate prices, reduce post-harvest losses, and deepen rural industrialisation, particularly in cashew-producing regions.

The MoU clearly states that the project will operate under a Build-Operate model, with ownership remaining with the investor.

Whilst the agreement is non-binding and subject to further definitive arrangements, it establishes a structured implementation pathway, including the formation of a Joint Technical Committee to oversee planning and milestones.

Reaffirming government’s determination, the Food and Agriculture Minister concluded that “The era of exporting raw potential is over. Under Feed Ghana, we are turning harvest into industry and agriculture into the engine of economic transformation.”

If successfully implemented, the MoFA -B5 partnership project could serve as a model for similar investments across other tree crops and agricultural value chains, accelerating Ghana’s transition from commodity dependence to industrial transformation.

Speaking at the National Forum on Microgrids and Minigrids for Off-Grid Electrification in Accra, in a speech delivered on his behalf, the Minister noted that high upfront costs and perceived investment risks continue to discourage private sector participation.

“Financing remains a hurdle — high costs and risks deter private players,” he stated.

Mr Jinapor explained that while Ghana is committed to achieving universal electricity access, limited funding for decentralised energy systems threatens to slow progress, especially in remote and hard-to-reach areas.

“Ghana is addressing this hurdle with stable policies, regulations, de-risking mechanisms, capacity building and market support, while prioritising affordability and inclusion,” he added.

The forum, chaired by former Power Minister Kwabena Donkor, brought together government officials, regulators, development partners, private companies, traditional leaders and civil society groups to discuss practical ways of accelerating off-grid electrification.

Participants examined policy, regulatory and financing frameworks needed to scale up microgrid and minigrid deployment as part of Ghana’s broader energy transition agenda.

According to the Energy Ministry, Ghana’s electricity access rate currently stands at 89.03 per cent. However, about 3.5 million people — mainly in island, lakeside and rural communities — still lack reliable power supply.

Mr Jinapor said extending the national grid to such areas is often slow and expensive, making decentralised systems a more viable option.

“This demands a rethink of how we plan, deliver and use energy,” he said, describing microgrids and minigrids as “vital pillars” of the country’s energy future.

He noted that systems powered by solar, biomass and battery storage can provide reliable electricity closer to communities, reduce carbon emissions and stimulate local economic activity.

“Electricity that ignores livelihoods, industry and services fails to transform,” he stressed, adding that energy parks must support agro-processing, cold storage, irrigation, healthcare, education and small-scale manufacturing.

The forum also reviewed progress under initiatives such as Africa Energy Parks and the Scaling-Up Renewable Energy Programme, which support solar mini-grids and home systems in off-grid areas.

Mr Donkor observed that despite steady expansion of the national grid, between 10 and 15 per cent of Ghanaians still lack access to modern energy services, particularly in rural communities.

Also speaking at the event, Paulina Różycka, Team Leader for Infrastructure and Sustainable Development at the Delegation of the European Union to Ghana, said microgrids and minigrids are no longer optional.

“They are a necessity for reaching remote communities,” she said.

She cited the Africa Energy Parks project in Jang in the Savannah Region, which provides electricity to more than 500 households while supporting productive activities and climate resilience.

The forum is expected to produce key recommendations, secure stakeholder backing for the Africa Energy Parks model and strengthen cooperation between government, industry and development partners.

Organisers say the outcomes will feed into Ghana’s long-term electrification strategy, as the country seeks to close the remaining access gap and support inclusive economic growth through renewable energy.

The donation ceremony, held in Accra, brought together representatives of the museum’s board and members of the media.

The vehicle was presented by Chief Executive Officer of Svani Group, Tommy Svanikier, who urged private and corporate institutions to support the museum’s vision of preserving and promoting Ghana’s history and heritage.

According to Mr. Svanikier, the Suzuki saloon will support the museum’s administrative operations and educational outreach activities across the country, enhancing its capacity to coordinate programmes and manage logistics more effectively.

Founded to reclaim and present African history from African perspectives, the Pan African Heritage World Museum is one of Ghana’s most ambitious cultural initiatives.

Located near Winneba in the Central Region, the expansive project is envisioned as a hub for arts, historical narratives and Pan-African identity, serving both local and international audiences.

Though still under development, the museum has already hosted festivals, exhibitions and educational outreach programmes aimed at deepening public understanding of Ghana’s and Africa’s heritage.

The addition of the new vehicle is expected to improve mobility for staff and facilitate the transportation of artefacts and coordination of events across various regions.

Founder and Chairman of the museum, Kojo Yankah, expressed gratitude to the donors and supporters who continue to back the project.

“We’re building not just a museum, but a legacy,” he said. “Today’s generous donation brings us one step closer to ensuring that Ghana’s rich tapestry of history and culture is honoured and shared widely.”

The museum’s leadership has renewed its call for sustained investment from individuals, businesses and cultural partners, stressing that preserving heritage remains central to strengthening national identity and shaping future generations.

With the new Suzuki saloon added to its fleet, the Pan African Heritage World Museum is expected to enhance its operational reach as it works toward becoming a world-class heritage institution rooted in Ghana.

This follows the deadly extremist attack that led to the killing of eight Ghanaian nationals in Titao.

Speaking at a press conference in Burkina Faso on Friday, February 20, Mr Ablakwa said the new agreements fulfil directives issued by President John Dramani Mahama and Burkina Faso’s leader, Captain Ibrahim Traoré, who earlier tasked their foreign ministers to reactivate bilateral cooperation.

“I am delighted to report today that we have not only complied with the directives from our two presidents, but we have made a lot of progress,” he stated.

Joint resolve against extremism

Mr. Ablakwa said the two governments strongly condemned the latest violent extremist assault in the northern Burkinabè town of Titao, which killed several civilians, including Ghanaian tomato traders.

“We have decided to deepen our security cooperation,” he stated. “We are currently negotiating a security framework which will help us to work together and collectively to neutralise these violent extremists.”

He stressed that Ghana and Burkina Faso are determined to prevent the sub-region from becoming a safe haven for terrorist groups

Driver’s licence pact to ease trade corridor

Among the headline agreements is the mutual recognition of national driver’s licences, a move expected to remove longstanding bottlenecks along the Tema–Ouagadougou trade corridor.

Mr. Ablakwa noted that transport operators have complained for years about regulatory inconsistencies between the two countries.

“Our drivers have been complaining for years about the lack of harmonisation,” he said, adding that Africa still trades too little within the continent. “This agreement is going to resolve that, and it will boost intra-African trade ”.

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Citing data from the United Nations Conference on Trade and Development, he observed that intra-African trade remains below 20 per cent.

He stressed that Ghana, which hosts the secretariat of the African Continental Free Trade Area Secretariat, is determined to lead by example in removing barriers to free movement and commerce.

Transport, border and transit cooperation

The two countries also signed:

• An agreement on transport and road transit
• A framework agreement on cross-border cooperation
• A memorandum establishing periodic consultations between border administrative authorities
• A memorandum creating a joint commission to reaffirm the Ghana–Burkina Faso border
• A security cooperation to tackle violent extremists.

According to Mr. Ablakwa, these measures will simultaneously improve security coordination and facilitate the movement of people and goods.

“We want to enhance our border collaboration so that we can enhance security and we can also facilitate the movement of our people,” he said.

Disaster management collaboration

Another major agreement focuses on joint prevention and management of disasters and humanitarian crises, a response to recurring flooding challenges affecting communities in both countries.

The minister referenced the perennial impact of the opening of the Bagre Dam in Burkina Faso, which has historically triggered flooding downstream in northern Ghana.

“When we are not coordinating properly… it leads to the destruction of farms, of properties. Sometimes lives are lost,” he noted, stressing the need for a harmonised emergency preparedness protocol.

Joint fight against illicit drugs

Ghana and Burkina Faso also signed a cooperation agreement to combat illicit cultivation, production, manufacturing and trafficking of narcotic and psychotropic substances.

Mr. Ablakwa warned that drug abuse is increasingly threatening young people in both countries.

“It’s destroying the youth, destroying them of their future, their potential,” he said. “Ghana and Burkina Faso will not be a dumping ground… we are going to enhance our cooperation to declare our countries a no-drug zone.”

Implementation promised

Describing the meeting as “very substantive, meaningful, and impactful”, the foreign minister assured that the agreements will be swiftly operationalised.

“These agreements are not going to be decorative pieces,” he emphasised. “We have discussed strategies for immediate implementation… and we are going to make sure that they are implemented very, very successfully.”

Officials say the strengthened bilateral framework is expected to significantly improve trade efficiency, border security, disaster preparedness and youth protection across the Ghana–Burkina Faso corridor.

The directive, issued by the Minister for Finance, Cassiel Ato Forson, follows the recent interception of eighteen articulated trucks declared for transit to Niger but suspected to be part of a broader transit diversion scheme.

Under the new measure, cooking oil consignments entering Ghana for onward transit to landlocked countries will no longer be permitted to pass through land border collection points. Instead, they must be processed exclusively via Ghana’s seaports, where stricter valuation systems, electronic tracking mechanisms, scanning infrastructure and layered customs controls are operational.

Authorities say the decision is intended to close loopholes within the transit regime that have exposed the state to significant revenue losses. Post-interception examinations in the recent case uncovered material discrepancies in declared unit values, tariff classifications and weights, revising the suspended revenue exposure from approximately GH¢2.6 million to over GH¢85 million.

In addition to prohibiting the land transit of cooking oil, the Minister has directed the Ghana Revenue Authority to implement enhanced monitoring and strict compliance enforcement for all transactions originating from land collection points. This will include intensified cargo tracking, reinforced escort protocols and tighter supervisory oversight.

The Minister has also ordered the immediate commencement of disciplinary proceedings against any Customs officers found culpable in similar breaches. Criminal investigations are to be extended to importers and clearing agents where evidence supports prosecution.

Officials say the measures are designed not only to protect state revenue but also to safeguard local edible oil producers from unfair competition arising from diverted transit goods.

Government has reaffirmed its resolve to apply the full rigour of the law — including confiscation and auction of impounded goods where applicable — and to ensure that Ghana’s customs regime is not exploited to undermine domestic revenue mobilisation and national development.

In a statement released on Friday, 20th February 2026, the Authority urged the public to disregard what it described as “alarmist” commentary circulating in sections of the media and cautioned against panic-buying.

The clarification follows a widely shared advisory attributed to Dr. Riverson Oppong, Chief Executive of the Chamber of Oil Marketing Companies (COMAC), who reportedly encouraged consumers to refill their cylinders in anticipation of supply disruptions.

Rejecting claims of scarcity, the NPA indicated that national LPG stocks remain healthy. It noted that local refinery output is currently at peak levels, while an additional imported cargo is expected to arrive within the next two weeks to reinforce existing supplies.

“The NPA wishes to assure the general public that there is enough LPG in stock to meet demand. The country currently has an LPG stock of over a month’s cover, with LPG production by the local refineries at its highest level,” the Authority stated.

According to the regulator, arrangements under the national import programme are progressing as planned, with a scheduled shipment set to dock shortly.

“Additionally, as per the national import plan, the country is expected to take delivery of an LPG cargo within the next two weeks to further shore up existing stock levels and keep the market well supplied. Consumers are hereby advised to desist from panic buying and rest assured that there is no impending shortage of LPG in Ghana,” the statement added.

Even as the NPA works to reassure consumers about supply stability, a broader dispute is unfolding within the downstream petroleum sector.

On 18th February 2026, COMAC and the Chamber of Bulk Oil Distributors (CBOD) jointly called on government to suspend payments from the LPG Fund to the Ghana Cylinder Manufacturing Company (GCMC).

The two industry bodies allege that disbursements to GCMC amount to an unlawful diversion of funds, arguing that such payments fall outside the legal mandate of the LPG Fund and could undermine investor confidence in the downstream industry.

They have further warned that failure to address their concerns may compel them to pursue legal action, insisting that the credibility of the sector’s infrastructure financing framework is at risk.

While the NPA maintains that there is no immediate threat to LPG supply, the simmering tensions over fund management suggest that the long-term stability of the gas market hinges not only on adequate stock levels but also on transparency and regulatory clarity.

The protesting farmers say they will not leave the premises until their concerns are addressed and insist on meeting the directors of COCOBOD to press home their demands.

The situation at the premises has been described as chaotic, with heightened tension as farmers chant and call for immediate action from the authorities.

Security personnel at COCOBOD are currently on the grounds, attempting to calm the protesters and maintain order while efforts are made to manage the situation.

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In its latest statement, the Caucus warned that improvements in macroeconomic indicators are being driven largely by global gold prices rather than domestic structural reforms.

The statement commended the Centre for Democratic Development (CDD-Ghana) for initiating a one-year performance review of the Mahama administration, but urged civil society groups to examine “methods, costs and sustainability” beyond headline figures.

“Without subjecting recent developments to these three tests, national discourse is reduced to slogans, not governance,” the Minority stated.

On the cocoa sector, the Caucus claimed farmers are losing more than GH¢1,000 per bag due to structural changes in trading systems and the removal of stabilisation and hedging buffers.

“Economic resets that shift global market risks onto vulnerable farmers are not reforms; they are policy injustice,” the statement said, adding that the Minority had formally demanded corrective measures.

The Caucus further criticised what it termed declining fiscal performance, alleging that revenue-to-GDP ratios had dropped from 16 per cent to 11 per cent by the third quarter of last year.

It argued that fiscal consolidation “built on collapsing revenue is not reform; it is institutional contraction and state weakness”.

Ending on a cautionary note, the Minority stated that “this is not economic resilience; it is renewed commodity dependence and a return to old structural vulnerabilities”.

It urged continuous and technical national accountability, insisting that “Ghana deserves methods that work, costs that are justified, and sustainable policies.”

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In a statement signed by Frank Annoh-Dompreh, the Minority Chief Whip, the Caucus asserted that the government inherited a revenue-to-GDP ratio of 16 per cent but had seen it fall to 11 per cent by the third quarter of last year.

The statement described this as “a loss of approximately five per cent of GDP in revenue performance,” which it said explains expenditure constraints, salary arrears and funding backlogs across the public sector.

“Fiscal discipline built on collapsing revenue is not reform; it is institutional contraction and state weakness,” the Minority declared.

It argued that while the government speaks of consolidation and prudence, the shrinking revenue base undermines the state’s capacity to deliver essential services and sustain development commitments.

The Caucus further contended that sterilisation policies aimed at curbing inflation have compounded economic hardship.

It pointed to the withdrawal of over GH¢60 billion from circulation, as acknowledged in the 2026 Budget, stating that this has constrained liquidity and dampened economic activity.

“What citizens are experiencing is not macroeconomic stability, but deliberate economic dryness,” the statement read.

The Minority concluded that economic management must prioritise structural growth and revenue expansion rather than contractionary measures.

“Governance must be grounded in sustainability and long-term resilience,” the statement emphasised, cautioning against what it termed short-term optics at the expense of enduring reform.

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