Cedi’s Soaring Rally Cools as Market Pressures Weigh
After a stellar run earlier in the year, the Ghanaian cedi’s rise against the U.S. dollar has slowed dramatically, as fresh market pressures weigh on the local currency. According to the Bank of Ghana, the cedi had gained a remarkable 42.6% by June 2025, but by September, its year-to-date appreciation had halved to 21%. On the interbank market, the cedi traded at GH¢12.15 per dollar in September, a retreat from the currency’s strongest levels seen earlier in the year. The three months between June and September saw the cedi lose nearly 20% of its value, erasing much of the momentum that had briefly lifted it to the top of global currency charts. Performance against other major currencies was mixed. In September, the cedi strengthened 6.9% against the Euro, settling at GH¢14.23, and gained 11.8% against the British pound, trading at GH¢16.45. These gains, however, were less robust than June’s, when the cedi had surged 30.3% against the pound and 25.6% against the Euro. Looking ahead to the final quarter of the year, analysts point to import demand, remittance flows, and monetary policy moves as key factors in shaping the cedi’s future performance. Bank of Ghana Governor Dr. Johnson Asiama attributed the recent slowdown to seasonal trade pressures and weaker remittance inflows, but noted that the cedi remains among the world’s strongest currencies. “Despite the seasonal pressures and a slowdown in remittance inflows in recent weeks, the cedi remains one of the strongest currencies globally. Year-to-date, it has appreciated by about 21% as of September 12,” Dr. Asiama told reporters at the opening of the Monetary Policy Committee meeting on September 15. He added that the cedi’s performance is comparable to currencies like the Russian ruble, Swedish krona, Norwegian krone, Swiss franc, euro, and British pound. The Governor pledged that the central bank would continue to monitor the situation and intervene as needed to maintain currency stability. Source: Apexnewsgh.com
Ghana Signs $1.5 Billion Deal to Boost Oil and Gas Sector
Ghana took a bold step toward securing its energy future this week, as the government signed a Memorandum of Intent with ENI, Vitol, and the Ghana National Petroleum Corporation (GNPC) for an ambitious $1.5 billion integrated strategic investment plan. The announcement, made during Africa Oil Week, signaled renewed confidence in Ghana’s upstream petroleum sector and the nation’s broader economic prospects. The Minister for Energy and Green Transition, John Jinapor, highlighted that the new investment would do more than just increase oil and gas production. “This is not just a figure on paper; it is a commitment to job creation, infrastructure development, and the long-term stability of our energy sector,” he said, underscoring the far-reaching impact of the deal. President John Dramani Mahama has long championed policies that foster an investment-friendly business climate while ensuring Ghana’s interests are protected. In line with this vision, the government recently introduced the Gas-to-Power Policy, a strategic initiative to harness Ghana’s abundant natural gas resources for electricity generation. This policy aims to boost energy security, reduce reliance on imported fossil fuels, and pave the way for sustainable development. Minister Jinapor further stressed the government’s determination to “reset” the upstream petroleum sector, addressing the decline in oil production recorded in recent years. The $1.5 billion agreement is expected to drive infrastructure growth and serve as a catalyst for Ghana’s energy transition and industrialisation agenda. As the ink dries on this landmark deal, optimism runs high that Ghana’s energy sector is poised for a new era of growth and innovation. Source: Apexnewsgh.com
MASLOC to Publish Names of Loan Defaulters After Final Warning
The Microfinance and Small Loans Centre (MASLOC) has issued a stern ultimatum to individuals, groups, and institutions with outstanding loan repayments, urging them to settle their debts by September 30, 2025. In a public notice released on September 15, MASLOC warned that it will publish the names of all defaulters in newspapers, on radio, and television if repayments are not made by the deadline. The Centre cautioned that failure to comply would result in strict enforcement actions, including legal recovery proceedings and restrictions on future access to financial support. “MASLOC funds are public resources meant to support the growth of small businesses across Ghana. Abuse or neglect of repayment obligations undermines this national effort and will be met with firm corrective measures,” the statement read. MASLOC management reiterated its commitment to accountability and the protection of state resources, urging all beneficiaries to act responsibly and fulfil their repayment obligations to sustain the programme’s impact. Source: Apexnewsgh.com
Foreign Affairs Ministry Launches Major Reforms to Reset Ghana’s Diplomacy and Accountability
The Ministry of Foreign Affairs has unveiled two sweeping policy initiatives aimed at reshaping Ghana’s diplomatic operations, eliminating waste, and strengthening accountability. Foreign Affairs Minister Samuel Okudzeto Ablakwa announced the reforms during the ministry’s performance report at the Government Accountability Series in Accra. STRIDE: Ending Rent Dependence Abroad The first initiative, STRIDE (Strategic Transition from Renting to Infrastructure Development), targets Ghana’s costly reliance on renting office spaces for its diplomatic missions overseas. With the country currently spending an estimated US$15 million annually on rent, Minister Ablakwa described the practice as unsustainable, especially since Ghana owns donated lands in 23 countries. “Ghana cannot continue to spend millions of taxpayer dollars on rent while owning donated lands in 23 countries,” Ablakwa said. Under STRIDE, the government will embark on constructing permanent chancery and residential facilities for embassies and high commissions. An open architectural design competition for the new “Ghana House” has been launched, with the aim of ensuring future diplomatic buildings embody Ghanaian culture, meet green standards, and become iconic representations of national identity. ORAL: Recovering Looted State Assets The second flagship initiative is the reinforcement of Operation Recover All Loot (ORAL), a key component of President John Mahama’s Reset Agenda. Ablakwa reported that the ministry, under ORAL, has already reclaimed lands at Airport Residential Area previously sold off, halted the illegal sale of diplomatic property in Lagos, Nigeria, cancelled a $3.5 million improperly awarded contract for the Abidjan Embassy, and created a comprehensive asset register to monitor all properties. Ablakwa emphasized that no contract under his leadership has been awarded through sole-sourcing, underscoring a commitment to competitive procurement processes. “Accountability and value for money are non-negotiable. Every cedi must serve the Ghanaian people,” he asserted. Resetting Ghana’s Diplomacy Together, STRIDE and ORAL represent what the Minister described as a “reset in Ghana’s diplomacy”—a bold shift toward fiscal prudence, anti-corruption measures, and projecting Ghana’s image with dignity on the global stage. “These policies will not only save Ghana millions but also restore confidence in the integrity of our foreign policy operations,” Ablakwa concluded. Source: Apexnewsgh.com
U.S. Customs Officials Intercept Stolen Bulldozer Bound for Ghana at Port of Baltimore
United States Customs and Border Protection (CBP) officials in Baltimore have intercepted a stolen bulldozer that was being shipped to Ghana. The discovery was made on September 3, 2025, during a routine inspection at the Port of Baltimore. CBP officers examined a 2015 Caterpillar D8T Dozer, valued at $237,000, and found that its vehicle identification number matched an active theft report filed in Carroll County, Maryland. The bulldozer was immediately seized as evidence. Authorities have launched an investigation to identify those responsible for the attempted export of the stolen equipment. CBP officials highlighted that the interception underscores the agency’s critical role in protecting U.S. exports and combating the international trafficking of stolen goods. Source: Apexnewsgh.com
Ghana’s High Commission in London to Begin Ghanacard Registration for UK and Ireland Residents
Ghanaians living in the United Kingdom and Ireland will soon be able to register for their Ghanacards at the Ghana Embassy in London, thanks to a new initiative announced by Ghana’s High Commissioner to the UK, Sabah Zita Benson. The announcement comes after Madam Benson’s recent working visit to the National Identification Authority (NIA) headquarters in Accra, where she met with the NIA’s Executive Secretary, Mr. Yayra Koku, and his team. The purpose of the meeting was to finalize a partnership that would extend the Ghanacard registration process to the Ghanaian diaspora in the UK and Ireland. According to Madam Benson, the new process has been designed to be simple and accessible. Applicants will need to complete just three steps: Fill out an online application form. Attend an online interview with the NIA team to verify their Ghanaian nationality. Visit the Ghana Embassy in London to complete their biometric capture and receive their Ghanacard. In addition to the embassy-based registration, Madam Benson revealed that plans are underway to introduce mobile registration services. These mobile units will travel to other cities across the UK and Ireland, making it easier for Ghanaians living outside London to participate in the registration exercise. “Commencement date shall be announced soon once all arrangements are complete. Thank you, Yayra. I look forward to a successful collaboration between your Authority and our Mission,” Madam Benson expressed after the meeting. This new initiative is expected to significantly improve access to the Ghanacard, which serves as Ghana’s primary identification document, for Ghanaians living abroad. Source: Apexnewsgh.com
GPRTU and Transport Operators Issue One-Week Ultimatum to Spare Parts Dealers Over Soaring Prices
The Ghana Private Road Transport Union (GPRTU) of TUC, together with allied commercial transport operators, has given spare parts dealers a one-week ultimatum to immediately reduce the prices of vehicle parts. In a strongly worded statement jointly signed by Alhaji Abass Ibrahim Moro, the transport operators described the current cost of spare parts as “unreasonable, unacceptable, and unsustainable,” warning that the escalating prices were crippling their businesses. The operators explained that previous discussions with spare parts dealers had failed to produce any meaningful results, despite repeated assurances that prices would be reviewed. “We cannot continue to operate with such high costs, and immediate action must be taken to reduce prices,” the statement emphasized. Frustrated by the lack of progress, the transport operators warned that if prices were not reduced within the one-week window, they would be compelled to seek alternative suppliers, including foreign nationals, who might offer more competitive rates. This ultimatum highlights the growing discontent within Ghana’s transport sector, which is already grappling with rising fuel prices, increasing maintenance expenses, and declining passenger numbers. As of now, spare parts dealers have yet to issue an official response to the demands. Source: Apexnewsgh.com
President Mahama Announces Destruction of Over 300 Illegal ‘Changing Machines’ in Nationwide Crackdown
President John Dramani Mahama revealed a significant victory in the fight against illicit economic activities in Ghana. During a media engagement, he announced that his government, in collaboration with the country’s security agencies, has confiscated and destroyed more than 300 illegal “changing machines” across the nation. President Mahama explained that this bold operation is part of a broader crackdown on activities that threaten Ghana’s financial stability and deplete state resources. “Such illegal operations cannot be allowed to flourish at the expense of national development,” he declared, emphasizing the government’s resolve to protect the country’s economic interests. He further noted that security agencies have been empowered to intensify enforcement measures, ensuring that perpetrators of illicit acts are brought to book and similar schemes are swiftly dismantled. In addition to the crackdown, President Mahama highlighted other government initiatives aimed at bolstering the economy and advancing national development. He disclosed that ₵14 billion of oil revenue has been allocated to the ambitious “Big Push” infrastructure agenda, which seeks to transform Ghana’s physical landscape and create jobs. Furthermore, ₵1 billion has been set aside to retool security agencies, enabling them to deliver more effective and responsive services. These interventions, the President affirmed, reflect his administration’s unwavering commitment to economic growth, national security, and the well-being of all Ghanaians. Source: Apexnewsgh.com
Ghana Gold Board Set to Begin Local Gold Refining in October 2025
The Ghana Gold Board will start refining gold locally from October 2025, marking a major milestone in the country’s quest for greater value addition in its gold sector. This initiative, forged through a partnership with the Bank of Ghana and local refineries such as the Gold Coast Refinery, was announced by the Gold Board’s CEO, Sammy Gyamfi, at the inaugural Mining and Minerals Convention in Accra on Tuesday, September 9. Gyamfi described the move as a crucial step in strengthening Ghana’s economic resilience and advancing the reset agenda of President Mahama. “It is a national shame that, as a long-standing continental leader in production, Ghana continues to export doré, that is, raw gold instead of bullion. The Ghana Gold Board, which I lead, is determined to change this narrative as a matter of urgency,” he emphasized. He further explained that the new arrangement will see the Gold Board, in partnership with the Bank of Ghana and local refineries, begin refining gold purchased and exported by the Board starting in October 2025. The initiative aims to ensure that more value is added locally, transforming Ghana’s gold exports from raw doré to refined bullion and contributing to the nation’s economic development. Source: Apexnewsgh.com
Ghana Water Limited Seeks 281% Tariff Hike Amid Growing Financial Pressures
Ghana Water Limited (GWL) has formally requested approval from the Public Utilities Regulatory Commission (PURC) for a dramatic 281 percent increase in water tariffs, proposing a jump from GH¢5.28 to GH¢20.09 per cubic metre for the 2025–2029 regulatory period. The company explained that the proposed hike is crucial to clearing its mounting debts and managing escalating operational costs. GWL pointed to challenges such as the pollution of raw water sources and foreign exchange pressures impacting the purchase of imported equipment and chemicals as key drivers of the increase. Without the adjustment, the company warns it will struggle to sustain a reliable water supply and fund necessary infrastructure expansion. At a recent public hearing, Michael Klutse, Manager in Charge of Monitoring at GWL, emphasized that current tariff levels are unsustainable for delivering consistent services. He stressed that a significant adjustment is necessary to maintain and improve water delivery across the country. Meanwhile, the Electricity Company of Ghana (ECG) and the Northern Electricity Distribution Company (NEDCo) have also called for new tariff structures. Both utilities are advocating for a dedicated tariff to support the provision and maintenance of street lighting nationwide. In addition, ECG is seeking a 224 percent increase in its distribution charge, while NEDCo is pushing for a 171 percent hike to address what it describes as unsustainable operational costs. NEDCo has further proposed eliminating the lifeline tariff bracket, which currently helps cushion low-income households. The company argues that the existing arrangement is no longer viable due to high fixed and variable costs, sparking debate on the impact such a move could have on vulnerable consumers. Source: Apexnewsgh.com