A wave of relief swept through Ghana’s trade community this week as importers, exporters, and associated businesses welcomed the decision to postpone the much-anticipated Smart Port Note (SPN) initiative. The announcement, made by the Ghana Shippers Authority (GSA) in a widely circulated public notice, came after industry stakeholders raised concerns about the need for deeper consultation and clarification before the system’s rollout. The SPN, originally slated to take effect on February 1, 2026, was unveiled by the GSA on December 23, 2025, with the promise of modernising port operations and stamping out inefficiencies. However, as the implementation date approached, unresolved issues, particularly around operational logistics, regulatory compliance, and the introduction of new fees, prompted calls for a careful reassessment. According to the GSA, the postponement is intended to allow more time for meaningful dialogue with all affected parties. “This is a careful adjustment of one of our major port digitisation initiatives,” the Authority stated. “We want to ensure that operational, regulatory, and implementation concerns are fully addressed before the system goes live.” For industry leaders, the pause is not only welcome but necessary. Samson Asaki Awingobit, Executive Secretary of the Importers and Exporters Association of Ghana, explained to Citi Business News why the deferment was critical: “Messages have gone out globally to exporters and suppliers, alerting them to a potential new charge that would ultimately be passed on to local importers. When we examined the proposed figures, some of the values were quite high. It was clear we needed to defer the rollout, reconvene, and ensure all stakeholders, including those raising cost concerns, had a seat at the table.” Michael Obiri-Yeboah, Convenor of the Coalition of Concerned Exporters, Importers and Traders, echoed this sentiment, describing the delay as “a step in the right direction.” He stressed the importance of inclusive discussion: “We’ve seen prominent voices within the port community express reservations about the SPN. This postponement validates our concerns and opens the door to proper stakeholder engagement. Now, we can clearly articulate why the SPN may not be necessary in its current form, or work collaboratively to shape a more effective policy.” With the postponement in place, the mood among stakeholders is one of cautious optimism. Many believe that sustained engagement and open dialogue will ensure that any future digitisation of Ghana’s ports is both efficient and equitable, balancing the needs of government with the realities faced by those who keep the nation’s trade flowing. As the GSA prepares for renewed consultations, the business community is hopeful that the next version of the Smart Port Note will reflect a broader consensus, one that truly supports Ghana’s ambitions as a modern hub for international commerce. Source: Apexnewsgh.com

The atmosphere was one of transparency and resolve as Elizabeth Ofosu-Adjare, Ghana’s Minister of Trade, Agribusiness and Industry, addressed the nation during the Government Accountability Series on Wednesday, January 21. At the heart of her address was a significant development in the country’s efforts to tighten financial oversight and ensure the prudent use of state resources: the recovery of GH¢107 million in loan repayments and a fresh investigation into questionable loan disbursements by the Ghana EXIM Bank. Standing at the podium, Minister Ofosu-Adjare outlined the government’s multi-pronged approach to strengthening the credit system. She explained that, in 2025, Ghana EXIM Bank disbursed a total of GH¢304 million in loans under a stringent new policy. “This is not money for the boys or money for the girls,” she emphasized, underscoring the seriousness with which her ministry now approached credit creation. “You must satisfy requirements. You must show the credit you are taking will benefit the economy, and above all, you must demonstrate your ability to repay.” Her remarks reflected a shift toward greater accountability in public lending. The Bank’s stricter credit policy was already bearing fruit: GH¢107 million had been successfully recovered from loans that had long gone unpaid. “Recovery efforts on legacy loans are ongoing,” she continued. “We have initiated legal proceedings on several cases, and others have been referred to the appropriate security agencies for further action.” But even as the government celebrated these achievements, the Minister did not shy away from ongoing challenges. She revealed that some loan disbursements remained shrouded in mystery, with officials unable to account for how the funds had been issued or used. These cases, she said, had been swiftly referred to security agencies for thorough investigation. “There are loans that we do not know how they were disbursed,” Ofosu-Adjare admitted candidly. “We have referred them to the appropriate quarters to be dealt with expeditiously.” The Minister’s address was a clear signal that, under her watch, financial stewardship would not be taken lightly. With GH¢107 million recovered and further investigations underway, the government was not only reclaiming lost funds but also restoring public confidence in Ghana’s financial institutions. As the session concluded, observers noted a renewed sense of accountability—a promise that every cedi lent by the state must serve the nation’s interest, and that those who violate this trust will face the full scrutiny of the law. Source: Apexnewsgh.com

Ghana’s Vice President, Prof. Naana Jane Opoku-Agyemang,  has convened a high-level meeting with the heads of International Monetary Fund (IMF) country and regional offices across Africa. Against a backdrop of shifting economic tides and global uncertainty over debt and development financing, the gathering offered an opportunity to examine Ghana’s economic journey and its place within the continent’s broader narrative. Taking her seat at the table, Prof. Opoku-Agyemang was resolute. She began by acknowledging the daunting challenges that had recently confronted Ghana, the currency’s turbulence, inflationary spikes, and the strain of external shocks that had tested the nation’s resilience. But she was equally determined to spotlight the progress made since those turbulent times. “Our present situation is a testament to Ghana’s resolve,” she told the assembled IMF officials. “We have moved from the brink to a place of cautious optimism. Single-digit inflation is not just a statistic, but a sign of stability returning to everyday life. The Cedi has found firmer footing, and real GDP growth is no longer a distant hope, but a present reality.” The Vice President explained that these improvements were not confined to the realm of economic indicators, they were beginning to tangibly uplift businesses, households, and communities throughout Ghana. Farmers, traders, and entrepreneurs were regaining confidence. Investment was stirring anew. The sense of renewal, she stressed, was driven by reforms owned and designed by the Ghanaian people. “These are not prescriptions handed down from abroad,” Prof. Opoku-Agyemang asserted. “They are policies we have chosen, and sacrifices we are prepared to make, knowing that the path to recovery is neither quick nor easy.” She acknowledged, however, that the role of international financial institutions such as the IMF remained significant, especially as Africa faced not only its own structural challenges but also the ripple effects of global economic pressures. Yet, there was a new current running through the continent: an emerging self-assurance and a readiness to define Africa’s development priorities on its own terms. “We are not turning away from partnership,” the Vice President clarified. “Rather, we seek collaborations that are balanced, forward-looking, and tailored to our continent’s aspirations. Our relationship with the IMF, for example, must evolve beyond crisis-response programs to embrace true, development-oriented partnership.” Prof. Opoku-Agyemang echoed the vision of President John Dramani Mahama, emphasizing that Ghana’s future lay in self-reliance, but not isolation. She pointed to transformative opportunities on the horizon, notably the African Continental Free Trade Area (AfCFTA), which promises to unlock trade, investment, and innovation across borders. The conversation turned to the challenges that persisted, high borrowing costs, structural bottlenecks, and the need for coordinated action to ensure fair financing for Africa’s development. Yet, there was a palpable sense of hope: that with prudent reforms and supportive partnerships, Ghana and its neighbors could chart a course toward sustainable growth. As the meeting drew to a close, Prof. Opoku-Agyemang reaffirmed Ghana’s commitment to this new chapter. The country, she said, would continue to build on its hard-won gains, deepening reforms and strengthening the foundation for a more inclusive and prosperous future. And as Ghana advanced, it would do so with a clear-eyed vision, guided by national ownership, mutual respect, and a steadfast belief in the potential of its people and partnerships. In the heart of Accra, and in the corridors of global finance, the message was clear: Ghana’s economic story was entering a new phase, one defined not by crisis, but by confidence, cooperation, and the pursuit of lasting progress. Source: Apexnewsgh.com

The Chamber of Petroleum Consumers (COPEC) has intensified its call for the National Petroleum Authority (NPA) to abolish price floors mandated in the 2024 petroleum products pricing guidelines. According to COPEC, the policy, which prohibits Petroleum Service Providers (PSPs) from selling below a regulator-set minimum, is hampering competition and working against the interests of Ghanaian consumers. Speaking to Citi Business News, Duncan Amoah, the Executive Secretary of COPEC, described the price floor as “outdated” and ill-suited for a deregulated downstream petroleum sector. He argued that removing the floor would enable oil marketing companies (OMCs) to pass on lower prices to consumers whenever market dynamics allow. Amoah explained, “If I have cash and can negotiate a better deal, I should be able to benefit from a lower price. The current system, where the NPA sets both price floors and ceilings, restricts the free market and ultimately inconveniences consumers.” His comments come as the second pricing window in January brings some relief at fuel pumps, yet Amoah insists more savings could be realized if price floors did not bind OMCs. He urged the NPA to consider creative solutions and to let market forces determine prices, rather than imposing regulatory limits. Under current NPA guidelines, price floors are set and communicated at the start of every pricing window, with PSPs facing fines of up to GHS5,000 if they sell below the established minimum. Since its introduction, industry players have criticized the policy for stifling healthy competition and denying consumers the full benefits of a deregulated market. COPEC’s renewed advocacy places the spotlight once again on pricing policies in Ghana’s petroleum sector and the ongoing debate over the most effective way to protect consumer interests. Source: Apexnewsgh.com