BoG Governor Announces Policy Workshop to Strengthen Domestic Gold Purchase Programme
At the 77th Annual New Year School held at the University of Ghana on Tuesday, January 6, the Governor of the Bank of Ghana (BoG), Dr. Johnson Asiama, outlined a forward-looking strategy to enhance the country’s Domestic Gold Purchase Programme (DGPP). Addressing a diverse audience of experts, policymakers, and practitioners, Dr. Asiama revealed that the Central Bank, in collaboration with GoldBod and the Ministry of Finance, will soon organise a targeted policy workshop. The aim is to assess and refine the DGPP, drawing on global best practices to ensure the programme’s continued relevance and effectiveness. Dr. Asiama explained that the DGPP was launched at a time of considerable economic strain, but has since played a pivotal role in restoring confidence in Ghana’s economic outlook. “Arguably, the institutional role of the GoldBod has strengthened coordination across the value chain, while the introduction of a gold FX auction mechanism has enabled more structured and transparent intermediation of gold-related foreign exchange flows,” he noted. Looking ahead, Dr. Asiama called for the G4R programme to be firmly anchored within the broader framework of the Government of Ghana, emphasizing that responsibility for its sustainability should be shared across various institutions. He urged for informed debate, evidence-based analysis, and diverse perspectives on the DGPP, highlighting its status as a national priority. The planned workshop is set to bring together leading minds to chart a sustainable path for Ghana’s gold sector, ensuring that the DGPP continues to serve the country’s economic needs in line with international standards. Source: Apexnewsgh.com
Ghana Revenue Authority Announces Sweeping VAT Reforms Under New Law
Sweeping changes are on the horizon for Ghana’s Value Added Tax (VAT) system, following the passage of the Value Added Tax Act, 2025 (Act 1151), which will come into force on January 1, 2026. The Ghana Revenue Authority (GRA) announced the reforms in a notice to VAT-registered taxpayers and the public, promising a new era of simplicity, equity, and efficiency in tax administration. According to the GRA, the new law introduces a host of measures designed to ease the tax burden on businesses and households while boosting compliance. Among the most notable changes is a significant increase in the VAT registration threshold for businesses dealing in goods, from GHS 200,000 to GHS 750,000. This move is expected to bring substantial relief to micro and small-scale enterprises, reducing their compliance burden and freeing them from VAT obligations. In a further effort to streamline the tax regime, the Act abolishes the COVID-19 Health Recovery Levy, eliminating an extra cost that had been introduced during the pandemic era. The National Health Insurance Levy (NHIL) and the Ghana Education Trust Fund (GETFund) levy have also been re-coupled, meaning businesses can now claim input tax credits on these levies. By treating both NHIL and GETFund as deductible input taxes, the GRA aims to enhance fairness and transparency throughout the VAT system. A major highlight of the reforms is a reduction of the VAT rate to 20 percent, a measure specifically intended to lighten the load for households and businesses and stimulate economic activity. The VAT Flat Rate Scheme (VFRS) has also been abolished, paving the way for a unified VAT structure that the Authority says will be more transparent and easier to administer. The GRA emphasized that these reforms are designed to simplify the VAT system, promote equity, improve administrative efficiency, and encourage voluntary compliance. Taxpayers and professionals, including employers, accountants, auditors, importers, exporters, clearing agents, and tax consultants, are urged to familiarize themselves with the new provisions ahead of implementation in January 2026. For further information, the Authority advised the public to consult their nearest Taxpayer Service Centre or reach out via the GRA’s toll-free lines, WhatsApp platforms, or official email channels. Reaffirming its dedication to integrity, fairness, and service, the GRA underscored that these reforms are part of broader efforts to strengthen domestic revenue mobilisation in support of national development, under the theme “Our Taxes, Our Future. Source: Apexnewsgh.com
The Chief Executive Officer of the Ghana Gold Board Sets the Record Straight: No Losses, Only Surpluses in 2025
The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, has taken the stage to address swirling allegations about the institution’s finances. The rumors were damning, claims that GoldBod had suffered a colossal US$214 million deficit. But Mr. Gyamfi was resolute in his response, labeling the allegations inaccurate and misleading. With clarity, he explained that GoldBod, established in April 2025, was not a profit-driven public institution. Instead, it was designed to declare surpluses. He revealed that, according to the unaudited management accounts, GoldBod recorded an impressive revenue of over GHS960 million in 2025, while keeping total expenditures below GHS20 million. The numbers told a different story than the rumors suggested; far from a deficit, GoldBod was on track to post a substantial surplus—estimated between GHS700 million and GHS800 million for the year. As the conversation dug deeper, Mr. Gyamfi addressed another claim: that any potential losses from the Gold-for-Reserves programme had been quietly transferred to the Bank of Ghana’s books. He dismissed this idea as illogical, pointing out that the Gold-for-Reserves scheme was started by the Bank of Ghana in 2022 and all related transactions were always recorded by the central bank, not by GoldBod. Mr. Gyamfi traced the roots of GoldBod, noting that it inherited its structures from the former Precious Minerals Marketing Company (PMMC) and underwent necessary reforms to ensure transparency. Despite the transition, he emphasized that every Cedi received from the Bank of Ghana had been fully accounted for, with the equivalent value delivered in gold and only approved agency fees earned in the process. To put any lingering doubts to rest, Mr. Gyamfi concluded by announcing that an external audit by the Auditor-General was already underway and expected to be completed in the first quarter of 2026. The results, he promised, would publicly confirm GoldBod’s financial performance and set the record straight once and for all. Source: Apexnewsgh.com
MTN Ghana Spreads Christmas Joy to New Mothers in Upper East Region
On Boxing Day, the Office of the Upper East branch of MTN Ghana, the country’s leading telecommunications provider, brought smiles to the faces of nursing mothers and their newborns at War Memorial Hospital in Navrongo Municipality and Bolgatanga Regional Hospital. In a heartwarming gesture, the company distributed assorted items, including towels, diapers, blankets, toiletries, clothing, soap, and other essential baby necessities to the mothers of 28 babies born on Christmas Day. This annual act of kindness is a cherished tradition for MTN Ghana. Every December 26th, staff don their bright MTN-branded T-shirts and visit hospitals across the country, sharing essential items with new mothers to help them care for their little ones. The initiative is part of the company’s commitment to supporting communities and making a positive impact where it matters most. Madam Anisa Abdulai, the Senior Midwifery Officer in charge at the Regional Hospital’s maternity ward, expressed her deep appreciation for the gesture. “It is always a delight to see organizations like MTN Ghana showing love and care to our mothers and babies,” she remarked, noting that among the 16 mothers at the ward, one had delivered twin boys. Madam Abdulai also took the opportunity to appeal for continued and increased support from corporate organizations. The atmosphere at the hospitals was filled with excitement as MTN staff handed out the gifts, sharing laughter and warm wishes with the mothers. For many, the gesture was not just about the items received, but a reminder that they and their children are cherished and remembered during this special season. Source: Apexnewsgh.com/Ngamegbulam Chidozie Stephen
GIPC Reaffirms Commitment to Retail Sector Transformation Under 24-Hour Economy Initiative
The Ghana Investment Promotion Centre (GIPC) has reiterated the government’s unwavering commitment to revitalizing the country’s retail trading sector through the ambitious 24-Hour Economy initiative. Addressing the Ghana Union of Traders Association (GUTA) National Quadrennial Conference, GIPC CEO Mr. Simon Madjie underscored the vital role traders play in Ghana’s national development. He highlighted President John Dramani Mahama’s strong support for expanding the retail sector, describing it as a key strategy for economic diversification, job creation, and fostering inclusive growth. Mr. Madjie commended GUTA members for their resilience and their significant contributions to the economy. He reaffirmed GIPC’s readiness to work hand in hand with the association to unlock new investment opportunities that will benefit traders and the nation at large. The GUTA conference, held every four years, brought together representatives from all 16 regions of Ghana. The gathering concluded with the election of Clement Boateng as the new GUTA President, marking a new chapter in the association’s leadership. Source: Apexnewsgh.com
Made-in-Ghana Elegance: GoldBod Jewellery Introduces Holiday Collection
GoldBod Jewellery has ushered in the holiday spirit with the launch of its Christmas and New Year collections, dazzling customers with a stunning array of locally crafted gold pieces tailored for the festive season. The new catalogue boasts an elegant selection of chokers, necklaces, earrings, matching bangles, and rings, granting customers the perfect opportunity to celebrate the holidays with authentic, made-in-Ghana jewellery for themselves and their loved ones. A subsidiary of the Ghana Gold Board, GoldBod Jewellery has established itself as a key player in Ghana’s drive to add value to its gold resources. Originally incorporated in 2016, the jewellery arm recently underwent a strategic restructuring and rebranding, enhancing its capacity to deliver high-quality, locally manufactured ornaments. This rebranding initiative is part of a broader effort to boost the patronage of Ghanaian-made jewellery, reduce dependence on imports, and fortify the country’s local manufacturing base within the gold industry. Source: Apexnewsgh.com
Energy Minister Warns Agency Heads: Deliver Results or Face Removal
The Minister for Energy and Green Transition, Dr. John Abdulai Jinapor, has issued a stern warning to heads of agencies and senior managers within the energy sector, making it clear that underperformance will not be tolerated and could lead to removal from office. Speaking at the Ministry’s performance review retreat, Dr. Jinapor stressed that President John Dramani Mahama expects tangible results from public sector leaders. “Underperformance will not be tolerated. Heads of agencies and senior management who fail to meet agreed targets or deliver key projects will be removed,” the Minister declared. Dr. Jinapor described public office as a privilege that demands discipline, professionalism, and accountability. He urged agency leaders to approach the retreat with renewed seriousness and commitment to achieving measurable outcomes. “This is not a threat; it is a call to seriousness, discipline and results-oriented leadership,” he emphasized. Looking ahead to 2026, the Minister challenged agencies to shift from excessive planning to practical execution and to embrace strategies that are realistic, measurable, and aligned with national development priorities. “We must move from plans to execution, from excuses to solutions, and from fragmented efforts to unified action,” Dr. Jinapor stated. According to the Ministry, the performance review retreat aims to assess progress, identify gaps, and strengthen coordination within the energy sector to advance Ghana’s economic growth and green transition agenda. Source: Apexnewsgh.com
National Service Authority Flags Over 8,000 Irregularities in Payroll Audit
The National Service Authority (NSA) has uncovered significant irregularities in its payroll system, resulting in 8,105 personnel being flagged during a recent internal investigation. Of these, 1,840 individuals have been temporarily suspended pending further inquiries by relevant investigative bodies. At a press briefing on Monday, December 15, NSA Director-General Ruth Dela Seddoh revealed that the discrepancies were detected in three tertiary institutions: the University of Development Studies (UDS), Ghana Communication Technology University, and the Akenten Appiah-Menka University of Skills Training and Entrepreneurial Development. “We compared the number of officially graduated students with the lists submitted to us by the institutions,” Seddoh explained. “It became clear that some schools were complicit, forming part of a larger cartel perpetuating these irregularities.” Seddoh described the findings as shocking, emphasizing that 10 staff members from the various institutions have been arrested and are now under investigation by security agencies. The Authority’s comprehensive probe highlighted serious cases of fraudulent practices within the affected schools. Addressing concerns over the closure of the national service portal after two extensions, Seddoh clarified that the decision was made to facilitate reposting, ensure proper validation, and verify the physical presence of personnel at their assigned posts. “The timeline for shutting the portal was not arbitrary,” she noted. “It was structured to ensure accurate deployment records, eliminate ghost names, and enable timely payment of allowances to verified personnel.” The NSA said it will continue to work closely with security agencies to complete investigations and implement measures to prevent future occurrences, reaffirming its commitment to transparency and accountability in the national service scheme. Source: Apexnewsgh.com
Fuel Prices Set to Decline in December’s Second Pricing Window, Says Oil Marketing Chamber
Consumers can expect some relief at the pumps in the second pricing window of December, as fuel prices are projected to decline, according to the latest outlook from the Chamber of Oil Marketing Companies (COMAC). COMAC’s data suggests that petrol prices could drop by about 3.89 percent, while diesel is anticipated to fall by 4.59 percent. Prices for Liquefied Petroleum Gas (LPG) are also expected to ease by approximately 2.16 percent. The projected reductions are largely attributed to a sharp fall in international refined petroleum product prices, which have more than offset the effects of the cedi’s slight depreciation during the period. Although crude oil prices saw a modest increase of 1.06 percent, major refined products recorded significant declines ahead of the festive season, primarily due to oversupply in the global market. Petrol prices dropped by 6.55 percent, diesel by 11.67 percent, and LPG by 0.22 percent. Meanwhile, the cedi weakened slightly from GHS 11.14 to GHS 11.43 against the US dollar during the second pricing window, marking a 2.68 percent depreciation. This movement was driven by seasonal demand and tight foreign exchange inflows. Despite earlier indications of a possible 5 percent rise in fuel prices at the start of December, stemming from currency pressure and rising international prices, oil marketing companies kept prices steady. Energy sector stakeholders attribute this to heightened competition in the downstream petroleum market, which continues to cushion consumers against price volatility. Source: Apexnewsgh.com
IMF Technical Mission Concludes Visit to Ghana in Support of Governance Reforms
An International Monetary Fund (IMF) Technical Assistance mission has completed a four-day visit to Accra, aimed at supporting Ghana’s drive to implement critical governance reforms outlined in the IMF’s recent Governance Diagnostic Report. The mission, which took place from December 8 to 11, 2025, was led by Ms. Tina Burjaliani and included Mr. Gomiluk Otokwala and Ms. Nusula Nassuna. It was conducted at the request of Ghanaian authorities, following the publication of the Governance Diagnostic Report for Ghana on November 3, 2025. The report provides an in-depth evaluation of governance and corruption risks in the country, and highlights priority reforms to improve public financial management, revenue administration, property rights, public-sector integrity, and accountability across state institutions. During their visit, the IMF team worked closely with Ghanaian officials as they began implementing the report’s key recommendations. The team also discussed ways to coordinate technical and financial support with other development partners, in order to maintain momentum for reform. Meetings were held with senior government officials, civil society organisations, and international partners, centring on follow-up actions, implementation strategies, and maximizing external support for advancing the governance agenda. The IMF pledged ongoing collaboration with the Ghanaian authorities and development partners, including within the framework of the Extended Credit Facility programme, to ensure effective implementation of the Governance Diagnostic recommendations. In conclusion, the Fund expressed its gratitude to the Ghanaian authorities and stakeholders for their cooperation, hospitality, and open dialogue throughout the mission. Source: Apexnewsgh.com