Deloitte Ghana has sounded a note of caution over the Bank of Ghana’s drive to slash non-performing loans (NPLs) to 10% by the end of 2026, describing the target as ambitious and warning that it will require aggressive recovery actions by banks, even as recent trends show improving asset quality. In its analysis following the presentation of the 2026 national budget, the auditing firm described the banking sector’s ability to meet this goal as a crucial test for Ghana’s broader financial stability. The warning comes on the back of positive momentum: Ghana’s NPL ratio has already declined from 22.8% in 2024 to 20.4% as of September 2025, thanks to a stronger cedi, loan write-offs, recoveries, and moderate credit growth. Still, under new NPL reduction guidelines, all regulated financial institutions are now required to submit board-approved strategies outlining how they plan to manage and reduce bad loans over the next year. Deloitte’s report also highlighted a marked improvement in credit conditions, with average lending rates falling from 30.6% in 2024 to 22.7% in 2025, and projected further declines as macroeconomic stability strengthens. On restructuring, Deloitte pointed to a major turnaround at the National Investment Bank (NIB) following government interventions, which included GH¢450 million in cash, GH¢1.5 billion in marketable bonds, and GH¢500 million in Nestlé Ghana shares. These measures have transformed NIB’s negative capital adequacy to a robust 23%, fully restoring compliance and enabling the bank to refocus on supporting SMEs and expanding its transaction capacity. Deloitte further noted that government plans to recapitalize other state-owned banks could help reinforce sector stability, protect depositor confidence, preserve jobs, and prepare these institutions for future listing on the Ghana Stock Exchange. Source: Apexnewsgh.com
IMF Warns Ghana’s Fight Against Corruption Is at a Breaking Point Amid Chronic Underfunding
Ghana’s battle against corruption is facing a critical threat, with the nation’s key accountability institutions “severely weakened” by persistent underfunding, according to the 2025 IMF Governance Diagnostic Report. The report, conducted in September 2023, cautions that the country’s anti-corruption architecture is approaching a breaking point unless urgent reforms are implemented. The IMF’s findings reveal that major institutions, including the Office of the Special Prosecutor (OSP), the Economic and Organised Crime Office (EOCO), and the Commission on Human Rights and Administrative Justice (CHRAJ), regularly receive less than half of their budgets as approved by Parliament. As a result, agencies tasked with investigating corruption, prosecuting financial crimes, safeguarding public funds, and protecting whistleblowers are left struggling without the basic resources they need to operate effectively. Despite annual budgetary allocations, the report points out that actual disbursements from the Ministry of Finance fall far short, leaving institutions unable to recruit staff, maintain investigations, upgrade technology, or conduct specialised prosecutions. Even the OSP, established to spearhead high-profile corruption cases, is forced to seek clearance from the Ministry of Finance before hiring or paying its own staff, an arrangement the IMF describes as fundamentally incompatible with operational independence. Beyond the financial shortfall, the IMF warns of deep structural vulnerabilities. Ghana’s anti-corruption framework is described as “fragmented, overlapping and exposed to political influence,” with harmful duplication of mandates among the OSP, EOCO, and CHRAJ. The lack of clear coordination protocols, the report says, creates confusion, delays investigations, and allows political actors to exploit institutional weaknesses. The Attorney-General’s sweeping constitutional authority over all prosecutions further undermines the prosecutorial autonomy of agencies like EOCO and the OSP, rendering their independence “more symbolic than guaranteed.” The IMF points to recent high-profile incidents, such as the resignation of the first Special Prosecutor and the removal of the Auditor-General, as evidence of mounting political pressure on Ghana’s anti-corruption bodies. While Ghana has made gains through digitalisation, access-to-information reforms, and improved procurement laws, the IMF asserts that these steps are overshadowed by the deeper structural issues. The report concludes that, without decisive reforms, including guaranteed financing, clearer mandates, and effective insulation from political interference, corruption will continue to drain public revenue, scare off investors, and undermine Ghana’s prospects for economic recovery. Source: Apexnewsgh.com
GNPC and Explorco Refute Allegations Over Data Submission in Springfield Asset Valuation
The Ghana National Petroleum Corporation (GNPC) and its subsidiary, GNPC Explorco, have issued a strong denial of recent allegations suggesting their involvement in the submission of outdated or secondary data for valuing Springfield Exploration and Production Limited’s interest in the West Cape Three Points Block 2 (WCTP-2). These allegations resurfaced following a press release from the Ministry of Energy and Green Transition, which claimed that GNPC and Explorco provided 2020 data, previously used in an arbitration case, instead of more recent 2024 appraisal data for valuation purposes. In a detailed statement released on Monday, GNPC and Explorco dismissed the claims as both misleading and inaccurate. They clarified that they never supplied U.S.-based consultancy Sewell & Associates with any secondary data from the 2020 Aryeetey Report. Instead, the corporations pointed out that the Sewell report itself includes a disclaimer confirming that all data used was supplied exclusively by Springfield. GNPC and Explorco further stated that they had received no communication from Springfield regarding the submission of such data and were unaware that Springfield had commissioned the valuation. Responding to the accusation that the same dataset contributed to Ghana losing an international arbitration case, GNPC insisted that the use of 2020 data was “solely Springfield’s” decision. Neither GNPC nor Explorco, they emphasised, influenced or directed the data used for the Sewell valuation. The corporations also highlighted that Sewell’s disclaimer noted the absence of raw geoscience data for the relevant block, and the firm relied on a 2020 GNPC estimate as provided by Springfield. This, they said, clearly demonstrates they were not responsible for the data supplied. Dismissing further accusations, GNPC and Explorco insisted they did not withhold updated 2024 primary data, maintaining they “were not in control of the process” and could not have concealed any information. They also rejected claims of an attempt to inflate valuations, stressing they had no involvement in the data submission process. Addressing a separate allegation that more than US$700 million of state funds were at risk due to manipulated or discredited information, GNPC described this as entirely false. The Corporation asserted that it has never valued Springfield’s asset at US$700 million nor advised the government to make payments on such a basis. Rather, internal evaluations are routine commercial assessments considering various scenarios, not final valuation recommendations. GNPC affirmed that the government is commencing a transparent process to recruit a competent technical firm and transaction advisor to conduct an independent valuation of the WCTP-2 and related assets, using the most current data available. The Corporation reassured the public that all decisions regarding the Springfield asset have been transparent and are conducted in the best interest of the Ghanaian people. The statement was issued by the Corporate Affairs Division of GNPC. Source: Apexnewsgh.com
King Tackie Teiko Tsuru II Graces AAAG Conference in Accra, Champions Financial Accountability for Africa’s Future
Accra came alive as His Royal Majesty King Tackie Teiko Tsuru II, Ga Mantse, graced the opening of the 3rd Annual Conference of the African Association of Accountants General (AAAG), serving as the esteemed Special Guest of Honour. The prestigious event brought together Accountants General, finance leaders, policymakers, and public sector innovators from across Africa and beyond. Their mission: to deliberate on crucial reforms aimed at strengthening Public Financial Management (PFM) systems and driving economic prosperity across the continent. The conference, themed “Africa of Tomorrow: Positioning Public Finance Management (PFM) for Economic Prosperity,” focused on aligning PFM structures with Africa’s development agenda. Discussions centred on enhancing accountability and harnessing digital tools to improve financial governance, all while ensuring PFM systems support sustainable growth. In his keynote remarks, King Tackie Teiko Tsuru II applauded the organisers for prioritising financial accountability and institutional reform. He underscored the vital role effective PFM plays in Africa’s pursuit of sustainable economic transformation. The Ga Mantse called on African governments to invest in capacity building, modern financial systems, and transparent governance practices to build public trust and foster inclusive growth across the continent. Attracting a diverse delegation of experts and practitioners, the conference is expected to yield actionable recommendations to help countries strengthen fiscal discipline, improve resource mobilisation, and ensure value for money in public expenditure, key steps toward Africa’s economic future. Source: Apexnewsgh.com
All Government Institutions to Fully Adopt Electronic Payments by Early 2026—Controller and Accountant-General Affirms
The Controller and Accountant-General, Kwasi Agyei, has reaffirmed that all government institutions will be fully migrated onto secure electronic payment systems by the first quarter of 2026, as part of a nationwide drive to enhance transparency and efficiency in public financial management. Speaking at a consultative meeting in Accra on Thursday, November 20, 2025, with Managing Directors of commercial banks, Mr. Agyei outlined the rollout of the Ghana Integrated Financial Management Information System (GIFMIS) and the Ghana Interbank Payment and Settlement Systems (GhIPSS) Electronic Funds Transfer (EFT) initiative. The engagement focused on deepening collaboration with banks, addressing outstanding concerns, and ensuring all stakeholders are adequately prepared for the integration. Mr. Agyei highlighted persistent challenges caused by the continued use of manual cheques within Ministries, Departments, Agencies (MDAs), and local government authorities, despite the Public Financial Management Act (Act 921) mandating GIFMIS as the approved public funds management system. He warned that reliance on manual cheque transactions exposes government funds to fraud risks, complicates reconciliation, and breeds operational inefficiencies. “Failure to use the GIFMIS platform undermines integrity and transparency in financial management and affects the timely generation of financial reports for decision-making and preparation of the national accounts,” he stressed. Mr. Agyei emphasized that eliminating manual cheques and adopting electronic payments is critical: “This initiative is not merely a technological upgrade; it is a transformative step toward strengthening accountability and efficiency in the management of public funds. Transitioning to electronic payments through secure platforms such as GIFMIS and GhIPSS is therefore both timely and essential.” He added that meeting the 2026 deadline would significantly boost accountability, promote efficiency, and build public trust in government financial operations. The Controller and Accountant-General’s Department (CAGD) also announced that sensitisation and training programmes for government agencies would continue ahead of the full rollout. Second Deputy Governor of the Bank of Ghana, Matilda Asante-Asiedu, reiterated the Central Bank’s commitment to digitising payment systems. She said integrating GIFMIS and GhIPSS would improve monitoring and accountability, and urged commercial banks to support MDAs and MMDAs in meeting the transition timeline. Source: Apexnewsgh.com
MTN Ghana Recognised for Communication Excellence with Triple Award Win
MTN Ghana has been recognised with three major awards at the IPR Ghana Excellence Awards for 2023/2024, reinforcing the company’s leadership in strategic communication and public relations within the telecommunications industry and the wider PR profession. MTN Ghana was named PR Organisation of the Year (Telecommunications), an honour that affirms the company’s commitment to strong stakeholder engagement and its emphasis on clear, consistent and impactful communication across all touchpoints. The company has won this award six consecutive times. The company also received the award for Best in Crisis and Issues Communications, highlighting MTN Ghana’s agility and professionalism in managing complex situations with transparency, accuracy and responsibility. This recognition underscores the organisation’s ability to deliver timely, reliable information and reassurance during challenging moments, demonstrating its commitment to listening, engaging, and supporting stakeholders. Additionally, MTN Ghana was awarded Best in Corporate Communications, acknowledging its excellence in articulating its values, vision, and strategic priorities both internally and externally. This category is novel and the team is excited to have won the first one. Speaking on the awards, Adwoa Wiafe, Chief Corporate Services and Sustainability Officer, said: “Collectively, these awards reaffirm MTN Ghana’s dedication to upholding high standards in communication practice and its ongoing efforts to deepen trust, enhance engagement, and shape meaningful connections with our customers, employees, and partners.” For her part, Georgina Asare Fiagbenu, Senior Manager, Corporate Communications, noted: “These honours affirm the dedication and passion of our Corporate Communications team. Our focus has always been to tell MTN’s story with clarity, empathy, and purpose, whether we are engaging customers, supporting internal teams, or managing complex issues. This achievement motivates us to continue raising the bar in how we communicate and build meaningful connections.” MTN Ghana remains committed to continuously elevating its communication strategies as it works towards its ambition of leading digital solutions for Africa’s progress. The National PR summit was held at the Western Plus Serene Atlantic Hotel in Takoradi from 13th to 15th November, bringing together public relations professionals from across Ghana to exchange ideas, deliberate on the business of the Institute, and celebrate excellence in the profession. The event was held under the theme, “Imagining PR in the Contemporary World”. Source: Apexnewsgh.com
Former Finance Minister Ken Ofori-Atta and Seven Others to Be Arraigned Over SML Case
The Office of the Special Prosecutor (OSP) has announced that it will arraign eight individuals, including former Finance Minister Ken Ofori-Atta, before the court on Monday, November 24, in connection with the Strategic Mobilisation Limited (SML) case. This development comes after the OSP filed 78 charges against Ofori-Atta and seven others for their alleged involvement in controversial revenue assurance contracts between the Ghana Revenue Authority (GRA) and Strategic Mobilisation Ghana Limited (SML). According to a post on the OSP’s official Facebook page, the prosecution will also seek court orders to serve the charge sheet on fugitives currently outside the country. The former minister and his co-accused face a total of 78 counts of corruption and related offences, including “conspiracy to commit the criminal offence of directly or indirectly influencing the procurement process to obtain an unfair advantage in the award of a contract.” The OSP indicated that the charges, filed on Tuesday, November 18, 2025, constitute violations of section 23(1) of the Criminal Offences Act, 1960 (Act 29), and section 92(2)(b) of the Public Procurement Act, 2003 (Act 663). Portions of the suit, filed at the Criminal Division of the High Court in Accra under case number CR/0106/2026, read: “Conspiracy to commit the criminal offence of directly or indirectly influencing the procurement process to obtain an unfair advantage in the award of a procurement contract, contrary to section 23(1) of the Criminal Offences Act, 1960 (Act 29), and section 92(2)(b) of the Public Procurement Act, 2003 (Act 663).” Those set to face prosecution include former GRA Commissioners-General Dr Ammishaddai Owusu-Amoah and Emmanuel Kofi Nti, as well as senior GRA officials Isaac Crentsil and Kwadwo Damoa. Other accused persons are Ernest Akore, former Technical Advisor at the Ministry of Finance, Evans Adusei, owner of SML, and the company itself. The arraignment marks a major development in the OSP’s ongoing efforts to address corruption and procurement-related offences in public administration. Source: Apexnewsgh.com
Pragya Riders Stage Mass Protest in Kumasi Over Harassment and Restrictions by City Authorities
Commercial tricycle operators, popularly known as Pragya riders, staged a massive protest in Kumasi on Thursday, November 20, 2025, decrying what they described as ongoing harassment, extortion, and unfair restrictions imposed by the Kumasi Metropolitan Assembly (KMA). Hundreds of riders abandoned their tricycles and crowded the streets of the Ashanti Regional capital, blocking colleagues from working and compelling many to join the demonstration. The protest, dubbed ‘Enough is Enough,’ saw participants march through major thoroughfares, waving placards and chanting for urgent government intervention. The riders’ anger was directed at recent initiatives by the KMA, which they claimed were crippling their livelihoods. About two years ago, the assembly enforced a directive banning Pragya operations in key areas of the Central Business District (CBD), citing the need to reduce congestion and restore order. Although the tricycle operators initially complied following demonstrations and negotiations, they argue that the CBD remains congested and traffic conditions have not improved. The protesters accused the KMA of failing to honor its commitments and questioned why they continued to be targeted, insisting that they are not to blame for ongoing congestion. Beyond the operational restrictions, riders alleged persistent harassment and extortion by some KMA city guards and police officers—claiming that officials frequently demanded money or seized their tricycles without cause. Regional Chairman of the National Union of Tricycle Operators, Seidu Mubarak, expressed frustration over the lack of response to their repeated appeals and engagements with city authorities. According to him, their grievances have been ignored for too long. At the end of the march, the riders presented a petition to both the Kumasi Metropolitan Assembly and the Ashanti Regional Minister, listing their concerns and calling for immediate intervention. The protesters issued a two-week ultimatum for authorities to address their demands or risk further demonstrations. The Pragya riders’ protest has thrown the spotlight on the ongoing tensions between city authorities and informal transport operators in Kumasi, highlighting the urgent need for sustainable solutions that balance urban management with the livelihoods of thousands of workers. Source: Apexnewsgh.com
Ghana’s GoldBod Praised for Bolstering Cedi, Boosting Reserves, and Setting Benchmark for Africa
Ghana’s Finance Minister, Dr. Cassiel Ato Forson, has attributed the nation’s impressive conservation of foreign exchange and the surge in gold-backed inflows to the efficient operations of the Ghana Gold Board (GoldBod). Speaking on the agency’s growing influence, Dr. Forson highlighted that GoldBod—established to regulate and promote Ghana’s gold sector—has become a game-changer for the country’s economy, playing a crucial role in the Cedi’s strong performance this year. In April, Ghana’s currency was ranked the world’s best-performing, appreciating by 16.7% against the U.S. dollar and gaining both domestic and international recognition. The Finance Minister explained that GoldBod’s centralized procurement and export strategy has helped plug foreign exchange leakages and contributed significantly to stabilizing the Cedi. These efforts have also supported the Bank of Ghana’s drive to rebuild the country’s foreign reserves, which now stand at the equivalent of four and a half months of import cover—a dramatic turnaround from the lows of the 2022 economic crisis. As of September 2025, Ghana’s gold reserves had risen to 37.06 tonnes, thanks mainly to GoldBod’s domestic purchasing framework. Governor Johnson Asiamah told Reuters that GoldBod’s operations have strengthened investor confidence by boosting foreign reserves and enhancing the country’s fiscal credibility. Dr. Forson added that the resulting improvements in Ghana’s FX buffer have attracted renewed capital inflows and bolstered the nation’s economic resilience. Ghana’s GoldBod model is now gaining continental recognition. In October, finance ministers from Liberia, Sierra Leone, The Gambia, Sudan, and Ghana, along with AfDB President Dr. Sidi Ould Tah, praised the initiative during a high-level meeting in Washington, D.C., on the sidelines of the 2025 IMF–World Bank Annual Meetings. The meeting commended Ghana’s approach to natural resource governance, singling out GoldBod’s positive impact on gold trading and certification. Since its establishment in March, GoldBod has delivered around $8 billion in inflows by centralizing gold purchases and exports, ensuring that foreign currency earnings from the sector benefit Ghana directly. The GoldBod model continues to attract interest from other African nations eager to emulate Ghana’s success in gold resource management and institutional reform. Source: Apexnewsgh.com
President Mahama Commissions Expanded Tema Port, Hailing It as a Game-Changer for West African Trade
President John Dramani Mahama on Thursday, November 13, 2025, officially commissioned the newly expanded Tema Port, describing the multibillion-dollar development as “one of the most ambitious infrastructure projects in Africa’s maritime sector” and a major milestone in cementing Ghana’s role as the gateway to West Africa. The ceremony celebrated the completion of phases one and two of the landmark public–private partnership between Meridian Port Services (MPS), APM Terminals, and other international partners. President Mahama highlighted the innovative financing model behind the project, which required no government funding and demonstrated Ghana’s capacity to attract private capital for national development. Addressing key stakeholders, President Mahama emphasized that the expanded facility signified more than just improved infrastructure. “This project is more than a Ghanaian achievement. It is an African statement,” he declared, underscoring the port’s strategic role in enhancing regional trade, particularly under the African Continental Free Trade Area (AfCFTA), whose secretariat is based in Accra. With enhanced capacity, deeper berths, and advanced operational systems, the new Tema Port is now the preferred first-call terminal for major shipping lines entering the Gulf of Guinea. Mother vessels can offload containers in Tema, which are then redistributed to ports in Monrovia, Freetown, Dakar, Douala, and other West African destinations. The upgrade also reinforces Ghana’s position as the primary transit hub for landlocked neighbours Burkina Faso, Mali, and Niger.+ The expansion has generated thousands of jobs during both construction and ongoing operations, boosting a wide range of supporting industries including logistics, transportation, warehousing, engineering, hospitality, and maintenance. President Mahama noted the project’s ripple effects, stating it had spurred “enterprise and innovation” and contributed to Ghana’s industrial diversification and long-term growth. A significant milestone for local technology, President Mahama revealed that the artificial intelligence (AI) algorithm powering the port’s operational systems was developed by young Ghanaian engineers. He also announced that additional equipment is expected to arrive by early 2027, promising to further elevate efficiency and help Tema Port achieve its goal of becoming “the fastest-turnaround port in Africa.” Looking ahead, President Mahama called for sustained investment in next-generation technologies and digital systems to ensure the port remains competitive in the evolving global trade landscape. Reflecting on the project’s legacy, he remarked, “A hundred years from now, I wonder how many of us will be alive, but our children and grandchildren will be here operating these ports.” Reaffirming the government’s commitment to large-scale private-sector investment, President Mahama officially declared phases one and two of the expansion commissioned. He described the facility as a symbol of what visionary policy, private investment, and national ambition can achieve. The expanded Tema Port now stands as a regional maritime powerhouse and a blueprint for Africa’s future infrastructure transformation. Source: Apexnewsgh.com









