Parliament Passes Ghana Cocoa Board Bill, Guaranteeing Farmers 70% of Export Price and Major Sector Reforms
Parliament has passed the Ghana Cocoa Board Bill, 2026, paving the way for significant reforms in Ghana’s cocoa sector and offering new guarantees for cocoa farmers. The landmark legislation, approved on Thursday, July 30, ensures that cocoa farmers will receive not less than 70 percent of the Free on Board (FOB) export price set by the Ghana Cocoa Board (COCOBOD). Deputy Finance Minister Thomas Nyarko Ampem, presenting the objectives of the Bill, explained that the new law establishes COCOBOD as the statutory body responsible for regulating, overseeing, and monitoring activities across the entire cocoa value chain. The legislation mandates COCOBOD to support cocoa cultivation, manage the buying, selling, and export of cocoa, and promote value addition within the sector. Ampem noted that the Bill provides a clear legal framework for the Producer Price Review Committee and associated technical structures, strengthening the process for determining producer prices. It also addresses longstanding compliance and enforcement challenges by granting statutory backing to regulatory functions that were previously guided by administrative directives. These include disinfestation procedures, quality inspections, service charges, cocoa take-over processes, and certification requirements, all of which will now have stronger legal enforceability. The legislation seeks to resolve governance and oversight inconsistencies that have seen COCOBOD shift between different supervising ministries over the years. The Bill formally places COCOBOD under the Ministry of Finance, giving legal effect to a 2025 government policy directive transferring oversight from the Ministry of Food and Agriculture. Additionally, the Bill aims to create an enabling environment for public-private partnerships and increased local value addition. It encourages collaboration with domestic and international partners, such as the European Union, the World Cocoa Foundation, and the Côte d’Ivoire-Ghana Cocoa Initiative. Regulatory flexibility is also introduced to support small-scale chocolatiers and cocoa by-product manufacturers, addressing barriers that have previously constrained domestic processing and innovation. The Ghana Cocoa Board Bill, 2026, is expected to strengthen the sector’s legal framework, ensure better returns for farmers, and drive innovation and growth in the cocoa industry. Source: Apexnewsgh.com
Parliament Approves PPP Deal for Return of Road Tolls, Paving Way for Nationwide Electronic Tolling
Parliament has approved a landmark concession agreement between the Ministry of Roads and Highways and a Special Purpose Vehicle (SPV) to be set up by Rock Africa Limited, setting the stage for the reintroduction of road and bridge tolls through a Public-Private Partnership (PPP) framework. The agreement is designed to attract private sector investment for the financing, deployment, operation, and maintenance of a nationwide electronic toll collection system. The new system aims to improve revenue generation for road infrastructure projects and enhance the efficiency of toll collection. Parliamentary approval followed a debate on the report by the Roads and Transportation Committee, with discussions centering on the decision to reinstate tolls, which were abolished in 2021. During the debate, Bimbilla MP Dominic Nitiwul defended the previous Akufo-Addo administration’s move to suspend road tolls, explaining that it was intended to ease the financial burden on Ghanaians as the Electronic Transfer Levy (E-Levy) was introduced and to address traffic congestion caused by manual toll booths. Despite his defense of the earlier policy, Nitiwul expressed strong support for the proposed electronic tolling regime, describing it as a more efficient and convenient alternative to the old system. He highlighted that the technology-driven approach would eliminate long queues at toll plazas, offer a better experience for motorists, and provide a sustainable funding source for maintaining and developing the country’s road network. Nitiwul urged fellow MPs to support the concession agreement, expressing confidence that the electronic tolling system would significantly boost road maintenance and infrastructure development nationwide. Source: Apexnewsgh.com
IMF Approves Final Review of Ghana’s $3 Billion Bailout, Marks End of Credit Programme
The International Monetary Fund (IMF) Executive Board has given the green light to the final review of Ghana’s $3 billion Extended Credit Facility (ECF) programme, setting the stage for a final disbursement of about $371 million to the country. The Ministry of Finance announced the development on Monday, describing it as the successful conclusion of a three-year partnership aimed at restoring Ghana’s economic stability after the 2022 economic crisis. Launched in May 2023, the ECF programme was designed to help Ghana address severe fiscal and external imbalances. With this final approval, total disbursements to Ghana under the programme now amount to approximately $3 billion, providing critical support to the nation’s balance of payments. In its statement, the Ministry of Finance highlighted the government’s achievements under the programme, pointing to significant progress in fiscal discipline, reduced inflation, stronger external reserves, and the implementation of key structural reforms. “The successful completion of the programme reflects the significant progress Ghana has made in ensuring economic stability,” the ministry said. Looking ahead, the government announced it would embark on a new phase of collaboration with the IMF through a 36-month, non-financing Policy Coordination Instrument (PCI). This new arrangement is intended to further underpin Ghana’s reform agenda and reinforce confidence in the country’s economic policies. The government expressed gratitude to the Ghanaian people for their resilience and support throughout the reform process. It also acknowledged the contributions of the IMF Executive Board, management and staff, development partners, civil society, and the private sector. Reaffirming its commitment to reform, the government pledged to protect the gains achieved under the ECF programme and to continue building “a stronger, more resilient, and more prosperous economy for all Ghanaians.” Source: Apexnewsgh.com
IEAG Calls on Ghana Shippers’ Authority to Crack Down on Shipping Lines Over Excessive Container Charges
The Importers and Exporters Association of Ghana (IEAG) has renewed its calls for urgent action by the Ghana Shippers’ Authority (GSA) to rein in shipping lines accused of ignoring a government-imposed cap on the Container Administrative Charge (CAC). In a strongly-worded statement released by its Executive Secretary, Samson Asaki Awingobit, the IEAG alleged that some shipping lines are openly violating a legally binding directive that sets the CAC at a maximum of GH¢720 per Twenty-foot Equivalent Unit (TEU). The Association described the continued imposition of charges well above this cap as a direct affront to Ghana’s legal and regulatory system, especially after a recent High Court ruling confirmed the GSA’s authority. “Regrettably, evidence available to the Association, including invoices from major shipping lines such as PIL and MSC, indicates that some operators continue to impose excessive and unjustifiable charges in blatant disregard of the Ghana Shippers’ Authority’s directive,” the statement read. The Association cited cases where Pacific International Lines (PIL) charged an importer GH¢4,000 for a Container Release Order on a single 40-foot container, and MSC Ghana Limited billed GH¢3,870.46 as an Administrative Import Fee for a single 40HC container. These fees, the Association noted, are more than five times the approved charge of GH¢720 per TEU, representing a clear violation of the GSA’s directive and the Ghana Shippers’ Authority Act, 2024 (Act 1122). The IEAG did not mince words, calling the actions of the shipping lines “economic sabotage” that not only undermine the GSA’s authority but also challenge the credibility of the country’s judicial system. The Association argued that such practices are the result of years of weak enforcement and a “kid gloves” approach by previous regulators, which have allowed shipping lines to levy arbitrary fees and force importers, exporters, and consumers to bear the financial burden. According to the IEAG, Parliament’s passage of the Ghana Shippers’ Authority Act, 2024, was meant to strengthen regulatory oversight and protect the interests of businesses and consumers. The Association is now demanding a series of urgent measures, including: Immediate enforcement against shipping lines charging above the approved cap. Legal action under Section 47 of Act 1122 to compel compliance. Imposition of all available regulatory sanctions. Refunds of all excess charges collected since the cap was introduced. Public disclosure of defaulting shipping lines for transparency. “The Authority cannot afford to remain silent while regulated entities openly defy its directives,” the statement warned, adding that inaction would embolden further disregard for regulatory decisions. This renewed pressure from the IEAG comes in the wake of a July 10, 2026, High Court ruling that dismissed efforts by the Ship Owners and Agents Association of Ghana (SOAAG) and others to halt the GSA’s regulatory directive, thereby affirming the regulator’s mandate to enforce its rules. Source: Apexnewsgh.com
Businessman Ibrahim Mahama Refutes VALCO Acquisition Allegations
On a quiet Monday morning, the business community in Ghana was stirred by rumors suggesting that prominent businessman Ibrahim Mahama had expressed interest in acquiring the Volta Aluminium Company (VALCO). The whispers spread quickly, casting a shadow on Mr. Mahama’s reputation. However, the entrepreneur was swift to set the record straight. Through a statement released by his Special Aide, Rafik Mahama, on July 27, Mr. Mahama categorically denied any involvement in the alleged acquisition of the state-owned aluminium smelter. “Mr Ibrahim Mahama has no such interest and has not made any such offer to acquire VALCO,” the statement emphasized, leaving no room for doubt. The statement went further to denounce the allegations as yet another attempt to tarnish Mr. Mahama’s image. “Unfortunately, the allegation is the latest in several vile attempts to impute the integrity of Mr Ibrahim Mahama and subject him to needless public engagements,” it lamented. Despite the distractions, Mr. Mahama remains unwavering in his commitment to Ghana’s development. The statement affirmed that he is focused on investing in businesses that generate growth and opportunities both within Ghana and beyond. “He is committed to contributing his quota to the development of Ghana by investing in business opportunities in Ghana and beyond,” it reiterated. Determined to defend his name, Mr. Mahama has instructed his legal team to initiate legal action over the publication and circulation of the false claims. While the statement did not specify the individuals or organizations to be sued, it made clear that the matter would be pursued through the appropriate legal channels. As the story continues to unfold, Mr. Mahama’s resolve to protect his reputation and contribute to Ghana’s progress remains firm, undeterred by unfounded rumors. Source: Apexnewsgh.com
Star Oil Hikes Petrol and Diesel Prices by GH¢0.30 Per Litre, Effective July 26
Star Oil has announced an increase in pump prices for both petrol and diesel by GH¢0.30 per litre, with the new rates taking effect from Sunday, July 26, 2026. The oil marketing company attributed the upward adjustment to rising international petroleum product prices and fluctuations in the exchange rate. Under the revised pricing structure, Star Oil’s RON 95 petrol remains unchanged at GH¢16.75 per litre. However, motorists will now pay GH¢0.30 more per litre for both petrol and diesel compared to the previous pricing window. This latest hike makes Star Oil one of the first major Oil Marketing Companies (OMCs) to implement a price adjustment during the current pricing window. As of Saturday, other leading OMCs such as GOIL had not announced any changes to their pump prices, keeping their rates unchanged for now. As a result, motorists who refuel at Star Oil stations will face higher costs starting July 26, while customers of other major OMCs will continue to pay existing prices until further notice. Fuel prices in Ghana are reviewed periodically and are influenced by international crude oil and refined petroleum product prices, the cedi’s exchange rate performance, and other market factors. The latest adjustment is expected to be closely watched by consumers and transport operators, as changes in fuel prices often lead to increases in transportation fares and the overall cost of living. Source: Apexnewsgh.com
Government Considers Listing State-Owned Enterprises on Ghana Stock Exchange to Boost Performance
Finance Minister Dr. Cassiel Ato Forson has revealed that the government is weighing plans to list selected State-Owned Enterprises (SOEs), including state-owned banks, on the Ghana Stock Exchange as part of efforts to enhance their governance, efficiency, and profitability. The initiative forms part of broader reforms aimed at strengthening the performance of public institutions without resorting to outright privatisation or shutting down underperforming entities. Speaking to Citi on July 24, a day after delivering the 2026 Mid-Year Budget Review to Parliament, Dr. Forson explained that several SOEs are under assessment to determine the most effective ways to improve their operations. He emphasized that the plan should not be seen as an attempt to sell state assets, but rather as a way to increase private sector participation through the capital market while maintaining state ownership. “We are assessing a number of SOEs. It’s not about selling, it’s not about shutting down; it’s about listing some of them on the Stock Exchange to improve governance and ensure profitability,” he said. State-owned banks are among the institutions being considered for this initiative. Dr. Forson noted that the government intends to deepen private sector participation in the Agricultural Development Bank (ADB), which is already listed on the Ghana Stock Exchange, by selling additional shares to investors. He added that a similar approach could be applied to other state-owned banks, such as the National Investment Bank (NIB), to strengthen their financial standing and operational effectiveness. “ADB is already there, but we want to deepen it and offload more of those shares to the private sector, to you, to everybody. Everyone can buy some shares. NIB, all of them, we want to,” he explained. The Finance Minister said that listing more SOEs on the stock exchange would improve corporate governance, enhance transparency and accountability, and help these institutions become more efficient and commercially sustainable. Source: Apexnewsgh.com
Oil prices hit $100 for the first time since May
Oil prices hit $100 a barrel for the first time since May as the escalating conflict in the Middle East reignited fears over global energy supplies. Brent crude – the global benchmark for oil prices – rose more than 6% on Thursday following several days of increases as the US stepped up military strikes against Iran. Prices spiked after Houthi militia in Yemen attacked oil tankers in the Red Sea, threatening a key export route that Saudi Arabia has used to bypass the Strait of Hormuz. Gas prices have also risen steadily over the past month, with the benchmark UK gas price currently at around 150 per therm, up from around 98p at the end of June. Oil prices had been falling following a temporary ceasefire between the US and Iran. They dropped back to levels last seen before the US and Israel began military action against Iran on 28 February. However, the ceasefire has failed and this week US Secretary of State Marco Rubio said the people in charge in Iran were “not ready to make a deal”. The ongoing conflict risks pushing up inflation for many countries, including UK and the US leading to higher prices for consumers. Higher oil prices typically lead to petrol and diesel becoming more expensive. While drivers are affected directly, households could also see prices of other goods, such as food, increase due to businesses passing on higher transportation costs to customers. Inflation has fallen both in the UK – down to 2.6% in the year to June helped by slowing diesel and petrol prices – and in the US to 3.5%. But questions remain whether the slow down will prove short-lived due to the renewed conflict in the Middle East. New data released on Thursday showed that UK petrol prices have risen by 5p a litre since the beginning of July, hitting reaching almost £1.56. Diesel is at £1.72 a litre, on average, according to the RAC. Average gasoline prices in the US have surpassed $4 a gallon once more, up from $3.92 a month ago, according to motorist advocacy group AAA. “More expensive fuel and energy can ripple through the wider economy, increasing costs for businesses and ultimately feeding through into the price of food and other goods,” said Jonathan Raymond, investment manager at Quilter Cheviot. “This creates another headache for central banks as they continue their battle against inflation. “If energy prices remain elevated, policymakers may come under pressure to keep interest rates higher for longer or even raise them. This would come as a blow to mortgage holders and borrowers already feeling the strain.” The Bank of England, which sets UK interest rates, has held them at 3.75% in its last four meetings. Paul Dales, chief UK economist at Capital Economics, said he believed the Bank will “almost certainly” hold them again. But he said analysts still expected that interest rates could be cut next year if energy price rises ease. Kevin Warsh, the newly-appointed chair of the US Federal Reserve, last week told Congress that the central bank had “no tolerance to persistently elevated inflation”. US President Donald Trump had pushed Warsh’s predecessor, Jerome Powell, to cut interest rates. Trump has made it clear he expects Warsh to fulfil his demand for reductions in borrowing costs for Americans. But the Fed held US interest rates between 3.5% and 3.75% at Warsh’s first meeting last month. He also told Congress that he was committed to “restoring price stability” in the wake of the Middle East conflict impacting prices. Source: bbc.com
Ghana Gold Board CEO Refutes Minority Allegations of Financial Losses and Mismanagement
Lawyer Sammy Gyamfi, Chief Executive Officer of the Ghana Gold Board (GOLDBOD), has firmly denied accusations from members of the Minority Caucus in Parliament that the state-owned institution is suffering financial losses and mismanaging public funds. In a statement addressing recent claims, Gyamfi labeled the allegations as “false” and emphasized that GOLDBOD remains financially robust and committed to its mandate. He revealed that for the 2025 financial year, GOLDBOD recorded an operational surplus of GH¢909.7 million and an overall surplus of GH¢5.44 billion, figures documented in the institution’s 2025 audited annual report and financial statements prepared by the Auditor-General and published on GOLDBOD’s website. Despite a decline of over 23 percent in international gold prices since February 2026 and a reduction in pricing incentives following the scaling down of its baseline programme, GOLDBOD has continued to deliver strong results. Gyamfi noted that the institution is on track to meet its 2026 surplus target, making significant strides in gold purchases, foreign exchange generation, support for Ghana’s gold reserve accumulation, local value addition, and sustainability efforts. The CEO urged the public and media to disregard what he called “false and misleading” claims being spread by some Minority members. He specifically criticized Minority Leader Alexander Afenyo-Markin and his colleagues for making what he described as baseless allegations of losses and misappropriation of public funds. Gyamfi reaffirmed GOLDBOD’s commitment to maximizing value from Ghana’s gold resources for national benefit, stating that the institution would remain focused on delivering results and would not be distracted by politically motivated attacks. He expressed confidence that GOLDBOD’s performance and achievements would ultimately overshadow the criticisms faced by the institution. Read statement below: LAWYER SAMMY GYAMFI RESPONDS TO FALSE CLAIMS ABOUT THE GOLDBOD BY SOME ELEMENTS IN THE NPP MINORITY CAUCUS 1. It is an incontrovertible fact that the GoldBod declared an operational surplus of GHS909.7 million and an overall surplus of GHS5.44 billion for the year 2025. These facts are contained in the 2025 audited Annual Report and Financial Statements of the GoldBod prepared by the Auditor General and published on the GoldBod’s website. For evidence, see: https://goldbod.gov.gh/wp-content/uploads/2026/04/2025-Audited-Financial-Statements-Ghana-Gold-Board_compressed.pdf 2. In spite of the substantial slump in international gold prices by over 23% since February this year, the significant reduction of GoldBod’s pricing incentives due to the cutting down of baseline program implementation from about 14% to 6%, the GoldBod has remained on course in achieving remarkable successes relative to the volume of gold purchases, foreign exchange generation, support for gold reserve accumulation, local value addition, support for sustainability initiatives and the achievement of our surplus target for the 2026 financial year. 3. The media and general public are respectfully advised to treat with utmost contempt, the discredited cacophony of lies being rehashed in recent times about GoldBod’s operations by certain elements in the Minority Caucus in Parliament. 4. Led by their pathetically ignorant Leader, Afenyo Markin, these Members of Parliament continue to make spurious claims to the effect that the GoldBod is recording losses and siphoning public funds. These ridiculous claims can only be a figment of the imaginations of these incorrigible MPs who ought to know better. Sadly, they have no interest in learning nor any regard for the truth. You take them serious at your own peril. 5. The GoldBod remains focused on the delivery of its mandate for the benefit of Ghanaians. We will not be distracted by misguided noise. For we know, that the impact of the success story of the GoldBod shall outlive the hate-driven campaign of calumny being waged by our detractors. Source: Apexnewsgh.com
Ghana Faces GH¢111 Billion Domestic Debt Repayment in 2027 and 2028 – Finance Minister Warns
Finance Minister Dr. Cassiel Ato Forson has sounded the alarm over Ghana’s looming domestic debt repayment burden, revealing that GH¢111 billion in Domestic Debt Exchange Programme (DDEP) bonds are set to mature in 2027 and 2028. Presenting the 2026 Mid-Year Budget Review to Parliament on Thursday, July 23, Dr. Ato Forson cautioned that the country must prepare for this significant financial obligation. “In two years alone, Ghana has to repay GH¢111 billion, 111, Mr. Speaker. This is the true Agenda 111 Ghana must deal with,” he stressed. Dr. Ato Forson attributed the massive repayment challenge to the structure of the DDEP, which he argued was never meant to provide a permanent solution to Ghana’s debt problems. Instead, he said, the programme merely postponed repayment, shifting the burden to coming years. “Its architect mortgaged tomorrow to survive today,” the minister remarked. The Finance Minister assured Parliament that government is adopting a proactive, forward-looking debt management strategy to honour these obligations without destabilizing the economy. He emphasized the importance of prudent debt management and careful fiscal planning to restore investor confidence and strengthen Ghana’s long-term economic resilience. The DDEP was a key component of Ghana’s broader debt restructuring efforts, designed to restore macroeconomic stability and secure IMF-backed support. While it provided short-term relief, it also deferred substantial repayments, leaving the country with a formidable challenge in the years ahead. Source: Apexnewsgh.com