GPRTU Warns of Fare Hikes as Fuel Prices Surge, Government Urged to Act
Transport operators in Ghana are running out of patience, and options. Samuel Amoah, Deputy Industrial and Public Relations Officer of the Ghana Private Road Transport Union (GPRTU), has issued a stern warning to authorities: act now or face the consequences of higher transport fares. Speaking to the media, Amoah acknowledged the government’s position that current economic pressures are beyond its immediate control, but made clear that transport operators cannot afford to absorb the rising costs indefinitely. “What the government and the president is saying is, it is something they can’t control right now, but the transport operators may be forced to,” he stated. The union has already moved beyond words. Amoah revealed that GPRTU issued a formal release giving the government a two-day window to respond with concrete action. “We came up with this release and gave the government two days to do something about it. If they fail to do [that]…then we have no option but to organise ourselves to request an increment of transport fares for our members,” he warned. The ultimatum comes against the backdrop of a sharp jump in fuel prices following new pricing guidelines issued by the National Petroleum Authority (NPA). For the April 1 to April 15 pricing window, the NPA has set minimum ex-pump prices at GHS 13.30 per litre for petrol and GHS 17.10 per litre for diesel. The figures represent a steep climb from the previous pricing window, which ended March 31, when petrol was pegged at GHS 11.57 per litre and diesel at GHS 14.35 per litre, increases of roughly 14.9% and 19.2%, respectively, within a single pricing cycle. The fuel price surge has been largely attributed to escalating geopolitical tensions in the Middle East, which continue to rattle global oil markets and push crude prices higher. For transport operators already navigating tight margins, the latest price adjustments have pushed the sector to a breaking point. With the government yet to respond to the union’s demands, the clock is ticking. If no relief measures are forthcoming, Ghanaian commuters may soon find themselves digging deeper into their pockets at the bus stop. Source: Apexnewsgh.com
Ghana’s Inflation Tumbles to 3.2% in March 2026 — Lowest Since 2021 CPI Rebasing
Ghana’s inflation rate fell to 3.2% in March 2026, its lowest level since the rebasing of the Consumer Price Index in 2021, signaling a remarkable turnaround for an economy that was battling runaway prices just a year ago. The milestone arrives even as rising global fuel costs, fanned by the simmering geopolitical tensions in the Iran–U.S.–Israel conflict, threaten to reignite price pressures. The latest data released by the Ghana Statistical Service (GSS) paints a picture of steady disinflation, with the headline rate posting a sharp year-on-year decline from 22.4% recorded in March 2025, a drop of more than 19 percentage points in twelve months. On a month-on-month basis, however, overall prices nudged up only marginally, rising just 0.1% between February and March, suggesting that the broader downward trend remains intact. Breaking down the numbers, food inflation eased slightly to 2.3% from 2.4% the previous month, while non-food inflation moderated to 3.9%. A notable concern, however, emerged in the services sector, where inflation surged to 7.2%, a signal that cost pressures in transport, energy, and utilities have not yet fully dissipated. On the goods side, prices offered consumers some welcome relief, declining by 1.0%. Locally produced items saw inflation tick up modestly to 4.9%, while imported goods recorded a deflation of 0.6%, reflecting the relative stability of the Ghanaian cedi against major trading currencies. The regional picture told a more uneven story. The North East Region recorded the highest inflation in the country at 8.6%, while the Savannah Region stood at the opposite end of the spectrum, posting a deflationary rate of minus 4.6%, a stark reminder that the benefits of macroeconomic stabilization are not uniformly felt across Ghana’s diverse regions. In the financial sector, the sustained easing of inflation is beginning to filter through to lending conditions. Average lending rates from commercial banks eased to around 21.5% in March, down from 22.1% in February, reflecting the Bank of Ghana’s cautious but growing optimism about the inflation outlook. The sustained decline in inflation, even against the backdrop of global fuel-related shocks, points to strengthening macroeconomic fundamentals and is raising expectations of further interest rate cuts in the near term. Yet, the sharp rise in services inflation serves as a reminder that the battle against underlying cost pressures is far from over. For Ghanaian households and businesses alike, the direction of travel is encouraging, but the road to full price stability remains a work in progress. Source: Apexnewsgh.com
Burkina Faso Bans Tomato Imports to Boost Local Farming
Burkina Faso has officially kicked off a ban on the importation of tomatoes, marking a significant policy shift aimed at protecting local farmers and driving growth in the country’s domestic agricultural sector. The ban, which takes effect today, forms part of a broader push by the Burkinabè government to reduce the nation’s dependence on foreign produce and move toward greater self-sufficiency in food production. By limiting competition from imported tomatoes, particularly those flowing in from neighbouring countries, authorities hope to create a more favourable market environment for local growers who have long struggled to compete with cheaper foreign alternatives. Beyond shielding farmers from external competition, officials believe the policy will catalyze increased production, helping to stabilise prices at the farm gate and strengthen the country’s agribusiness value chain from field to market. The ripple effects of the decision, however, are expected to extend well beyond Burkina Faso’s borders. Countries that have relied on Burkinabè tomato imports may find themselves navigating supply disruptions, while traders on both sides of the divide adjust to the new restrictions. Closer to home, the reception has been mixed. Local tomato producers have largely welcomed the ban as a long-overdue step toward empowering domestic agriculture. However, some traders and consumers have sounded a note of caution, raising concerns about the prospect of supply shortages and rising prices in the short term as the market finds its footing under the new regime. Ultimately, the success of the policy will hinge on Burkina Faso’s capacity to ramp up local production and ensure efficient distribution systems are in place to meet domestic demand. Authorities are expected to keep a close eye on developments, with the aim of ensuring the ban delivers on its promise without placing undue strain on everyday consumers. Source: Apexnewsgh.com
No Tomatoes, Big Trouble: How Burkina Faso’s Export Ban Is Squeezing Ghana
Walk into any Ghanaian kitchen and you will almost certainly find tomatoes. They are the backbone of soups, stews, and sauces, a quiet but indispensable pillar of daily life. Now, that pillar is under threat, and the consequences could ripple far beyond the kitchen. Ghana is grappling with renewed economic pressure after Burkina Faso indefinitely suspended fresh tomato exports to the country, a decision that has laid bare just how deeply Ghana depends on its northern neighbour for one of its most consumed agricultural commodities. Between 70 and 80 percent of Ghana’s tomato supply comes from Burkina Faso, a trade relationship valued at approximately $400 million annually. When that tap is turned off, the effects are swift and far-reaching. The issue came into sharp focus at the 14th WTO Ministerial Conference in Yaoundé, where Ghana’s Minister for Trade, Agribusiness and Industry, Elizabeth Ofosu-Adjare, held bilateral talks with the Burkinabè Ambassador on the sidelines of the summit. The conversation was frank. The suspension, the Minister made clear, is not a minor inconvenience, it is a major economic concern. Madam Ofosu-Adjare warned that the disruption threatens far more than food supply. A prolonged shortage of tomatoes, she cautioned, could trigger price hikes, stoke inflationary pressures, and strain the budgets of ordinary Ghanaian households already navigating a difficult economic climate. Agro-processing businesses that depend on tomato supply would also feel the pinch, and livelihoods across the entire value chain hang in the balance. Burkina Faso, for its part, framed the suspension not as an act of hostility, but as a calculated industrial policy. The Burkinabè delegation explained that the export ban is designed to feed raw materials into newly established tomato processing factories at home, a strategy aimed at retaining value domestically and accelerating industrial growth. In short, Burkina Faso is doing what many developing nations aspire to do: processing its own produce rather than exporting it raw. For analysts watching the situation, the crisis is less a surprise and more a long-overdue wake-up call. Ghana’s heavy reliance on external sources for key agricultural commodities has always carried risk. The suspension, they argue, only makes the urgency more visible, and more costly. The country must invest seriously in irrigation infrastructure, boost local tomato production, and build out agro-processing capacity if it is to reduce its vulnerability to exactly these kinds of external shocks. Despite the tension, both countries left the Yaoundé talks with their diplomatic ties intact. They reaffirmed their commitment to strong bilateral relations and pledged to work toward a mutually beneficial resolution. Ghana is expected to intensify engagement with Burkina Faso while simultaneously exploring alternative supply sources and accelerating efforts to grow more at home. For Madam Ofosu-Adjare, the stakes could not be clearer. Resolving the impasse, she stressed, is not simply a matter of trade policy, it is about safeguarding Ghana’s economic stability and food security. The tomato is small. The problem it has revealed is not. Source: Apexnewsgh.com
BoG Unveils Six Pillars of Digital Defence
The Bank of Ghana (BoG) has drawn a bold line in the sand against the rising tide of cyber threats, introducing six strategic pillars that form the backbone of its revised Cyber and Information Security Directive (CISD 2026), a sweeping framework designed to forge a safer and more resilient digital financial sector. At the official launch of the directive, Governor Dr. Johnson Asiama made clear that the stakes go far beyond regulation. “A Safer and More Resilient Digital Financial Industry,” he declared, “is the central pillar of our regulatory philosophy.” For him, the CISD 2026 is more than a policy document; it is a solemn commitment to every individual and business that entrusts their financial data to Ghana’s financial ecosystem. The Governor did not mince words about the dangers lurking in the shadows of the digital economy. He warned that the very progress driving Ghana’s financial sector forward has also opened the door to increasingly sophisticated and persistent threats. “From ransomware attacks that can paralyse a bank for days, to systemic data breaches that can shatter public trust in an instant,” Dr. Asiama cautioned, “the threats we face are no longer just isolated IT incidents; they are national security concerns.” Acknowledging that the Bank of Ghana saw this shift coming, he pointed to the first Directive issued in 2018 as a necessary but now insufficient foundation. “We must be honest,” he said candidly, “a framework designed for the challenges of 2018 cannot adequately solve the problems of 2026.” The time had come, he stressed, to move beyond simple compliance and embrace a posture of active and collective cyber resilience. Six Pillars, One Vision To meet this moment, the CISD 2026 is built around six transformative pillars, each targeting a critical dimension of cybersecurity in the financial sector: AI and Machine Learning Governance As financial institutions lean more heavily on artificial intelligence for fraud detection, credit scoring, and customer service, the directive steps in to ensure these tools operate with transparency, fairness, and security, guarding against the risks that come with algorithmic decision-making. Cloud Computing Security Recognising the rapid shift toward cloud technologies, the directive promotes responsible, risk-based cloud adoption while firmly protecting data sovereignty over sensitive financial information. Proportionality Framework Not every institution faces the same risks or commands the same resources. This pillar tailors cybersecurity requirements to the size and risk profile of each institution, ensuring that smaller banks and fintechs are not crushed under the weight of disproportionate compliance demands. Board-Level Accountability Cybersecurity is no longer just an IT department conversation. The directive mandates that at least one board member possess verified cyber risk expertise, embedding security thinking at the very top of institutional leadership. Inclusive Oversight Ghana’s cyber defences are only as strong as their weakest link. By expanding the directive’s coverage beyond universal banks to include micro-finance institutions, savings and loans companies, fintechs, and partner regulators, the CISD 2026 creates a unified, sector-wide shield against cyber threats. Proactive Defence and Preparedness Rather than waiting for attacks to happen, this pillar pushes institutions to anticipate, prevent, and respond swiftly to evolving threats — shifting the culture from reactive damage control to proactive resilience. Building and sustaining this level of cyber defence does not come cheap. Governor Asiama acknowledged the significant investment required in infrastructure, advanced technology, and most critically, highly skilled personnel. As the Sectoral CERT, the Bank of Ghana has shouldered the initial cost of establishing the Financial Industry Cyber Security Operations Centre (FICSOC), a critical piece of national infrastructure that underpins the entire framework. With the CISD 2026 now in motion, Ghana’s financial sector stands at the threshold of a new era, one defined not by fear of cyber threats but by the confidence and capability to face them head-on. Source: Apexnewsgh.com
Ghana’s Electronic Toll System Set for Q4 2026 Launch as Parliament Moves to Plug Revenue Gap
Ghana is on the verge of turning a significant page in its road infrastructure story. The Roads and Transport Committee of Parliament has confirmed that the country’s long-awaited electronic road toll system will be up and running by the fourth quarter of 2026, a development that promises to restore a vital stream of funding for road maintenance and development. The announcement came on Thursday, March 26, 2026, in Accra, where Isaac Adjei Mensah, Chairman of the Committee and Member of Parliament for Wassa East, addressed the Parliamentary Press Corps. His remarks came in direct response to concerns raised earlier in the week by the Minority Caucus, which had questioned the pace at which the toll system was being rolled out. “All feasibility studies and preparatory processes will soon be finalised,” Mr. Adjei Mensah said, projecting confidence that the implementation timeline was firmly on track. But the Chairman did not stop at reassurance; he went on the offensive. Pushing back sharply against the Minority’s criticism, he argued that those who abolished the toll system in the first place had little standing to question the speed of its restoration. “The Minority has no moral justification to criticise the pace of this policy,” he said pointedly. His remarks carried the weight of hard numbers. Before the tolls were scrapped under the previous administration, they were generating approximately GH¢60 million every month for the state — a substantial and consistent revenue flow that vanished overnight with their abolition. The resulting gap, Mr Adjei Mensah stressed, had left Ghana’s road maintenance infrastructure starved of funding, with deteriorating roads and stalled projects bearing the consequences. “The abolition of the tolls led to substantial revenue losses,” he said, framing the electronic system not as a new policy experiment, but as a necessary correction — one designed to close the gap and rebuild the country’s capacity to maintain and expand its road network. The electronic format, he explained, is a deliberate upgrade. It will bring efficiency and transparency to the revenue collection process, replacing the vulnerabilities of manual toll collection with a modern, accountable system. “This system will ensure efficiency in collection while restoring a reliable revenue stream for road infrastructure development,” the Chairman said. Beyond the toll system, the Committee used the occasion to address a broader range of infrastructure concerns. On the government’s “Big Push” initiative, Mr. Adjei Mensah moved to clarify questions surrounding contract awards, noting that only 44 percent of the 400 contracts under the programme were awarded through sole sourcing, with the majority going through competitive bidding processes. The session also touched on several other critical projects and policy directions, among them, progress on the Boankra Inland Port, the status of the Mpakadan Railway System, government plans to restructure the Road Fund into a Road Maintenance Trust Fund, and the partial payment of GH¢107 billion in outstanding road arrears. Taken together, the disclosures painted a picture of an administration working to untangle years of infrastructure debt while laying the groundwork for more sustainable, transparent, and efficient systems. With Q4 2026 now firmly in view, Ghana’s roads and the funds needed to keep them in shape may soon be on a more reliable footing. Source: Apexnewsgh.com
Ghana’s Digital Fortress: How the Bank of Ghana Just Rewrote the Rules of Financial Security
In an era where the battlefield for national security has shifted from physical borders to fiber-optic cables, Ghana has just fortified its most critical asset: its financial heartbeat. The date was Wednesday, March 25, 2026. In the heart of Accra, at the storied Bank Square, a ribbon was cut, not over a road, a bridge, or a hospital, but over something far less visible and far more consequential. The commissioning of the Bank of Ghana’s Security Operations Centre (SOC) did not make the skyline any taller, but it made the nation immeasurably safer. With Chief of Staff Hon. Julius Debrah standing alongside Governor Dr. Johnson Pandit Asiama and First Deputy Governor Dr. Zakari Mumuni, Ghana quietly announced to the world that it was done waiting for a cyberattack to happen before deciding how to respond. That era was over. Ghana’s economy is digitizing at a breathtaking pace. Mobile money interoperability has woven millions of unbanked citizens into the formal financial system. Fintech startups are rewriting how businesses borrow, save, and transact. Every new digital connection, every new platform, every new line of code is a door, and for cybercriminals, every door is an opportunity. Hackers no longer need to breach a physical vault. They do not need guns, getaway cars, or inside men. All they need is a line of malicious code and a moment of vulnerability. In today’s financial landscape, billions can be siphoned in seconds, and the victims, ordinary Ghanaians, may not even know it has happened until the damage is done. The SOC is the Bank of Ghana’s direct answer to this evolving threat. Acting as a centralized nerve center for the entire financial ecosystem, the facility does not merely scan for common viruses or routine intrusions. It hunts, proactively, relentlessly, for sophisticated, state-sponsored threats and coordinated financial fraud, intercepting danger before it ever reaches the balance sheets of the people it is sworn to protect. What makes this milestone truly remarkable, however, is not the hardware. It is the philosophy behind it. First Deputy Governor Dr. Zakari Mumuni captured the spirit of the moment when he framed the SOC not simply as a new tool, but as a fundamental shift in how Ghana thinks about financial resilience. The old model, building walls and hoping they hold, is no longer sufficient. The new model is about speed, intelligence, and anticipation. “The question in modern banking is no longer if a threat will occur, but when,” a technical expert at the launch noted. “The SOC ensures that when that ‘when’ happens, the response is measured in milliseconds, not days.” At its core, the SOC operates on three powerful pillars. The first is Threat Intelligence Sharing, a real-time “neighborhood watch” for the banking sector, where a threat detected at one financial institution is immediately flagged and neutralized across the entire network, preventing a single breach from cascading into a systemic crisis. The second is round-the-clock vigilance, with a dedicated team of elite cyber-analysts working in shifts, eyes never leaving the screens, guarding the integrity of the Cedi through every hour of every day. The third, and perhaps most forward-looking, is proactive defense, the deployment of artificial intelligence and machine learning to identify and close vulnerabilities in the financial architecture before a single criminal mind can find and exploit them. For Hon. Julius Debrah and the leadership at the Bank of Ghana, this investment reaches beyond technology. It is, at its core, about trust. In a competitive global economy, capital is not loyal. Investors, businesses, and international financial institutions go where they feel safe, where the systems are strong, the oversight is credible, and the risks are managed. By establishing one of the most advanced Security Operations Centres in the sub-region, Ghana is not merely protecting its banks. It is making a bold declaration of intent: that it intends to be the most secure, the most stable, and the most trusted financial hub in West Africa. As the ribbon fell at Bank Square on that Wednesday morning, the message reverberated far beyond the walls of the ceremony. Ghana’s digital gates are now manned by a sentry that never sleeps, never blinks, and never stands down. In the high-stakes arena of global finance, where fortunes can be made or lost in the blink of a cursor, the Bank of Ghana has drawn a firm and unambiguous line, the nation’s wealth will remain exactly where it belongs: protected, stable, and secure. Source: Apexnewsgh.com
“Comply or Lose Your License”: Lands Minister Puts Mining Companies on Notice During Talensi Tour
Ghana’s Minister for Lands and Natural Resources, Hon. Emmanuel Armah-Kofi Buah, has issued a stern warning to mining companies operating in the Talensi District of the Upper East Region, comply with environmental regulations or face license revocation. The warning came during a high-profile working tour of the region, where the minister met with traditional rulers, regional officials, and representatives of licensed mining companies to push for responsible mining practices and stronger benefits for local communities. The minister’s visit kicked off in Bolgatanga with a briefing at the Regional Coordinating Council, where Hon. Buah outlined the government’s priorities: formalizing small-scale mining, accelerating land title processing, and reinforcing environmental protection. He challenged Lands Commission staff to eliminate bureaucratic delays and improve record-keeping, ensuring that ordinary residents can secure their land rights without unnecessary hurdles. From Bolgatanga, the minister traveled to the Talensi District, where he first paid a courtesy call on the paramount chief of the Talensi Traditional Area, Nab Kugbilsong Nanlebegtang, seeking his blessing before proceeding with the tour. This gesture underscored the government’s commitment to working hand-in-hand with traditional authorities. The royal welcome, however, came with an urgent plea. The paramount chief and his council raised serious concerns about the growing menace of illegal mining, locally known as galamsey, which they described as a “cancer” ravaging the district. According to the chief, the consequences are far-reaching: environmental disruption, health risks, economic losses, and deepening social conflict. “Its activities have severe consequences in environmental disruptions, health risks, economic losses, and social conflict,” the chief stated plainly. “We therefore seek effective action to eliminate or minimize the cancer from the area,” he added, calling on the minister to move beyond words and deliver decisive intervention. In response to the chiefs’ concerns, Hon. Buah announced plans to expand the Community Mining Scheme in the Talensi District, a government initiative designed to provide legal, well-regulated mining sites equipped with proper training so that miners can operate safely and sustainably. He assured the traditional authorities of strong, ongoing collaboration between his ministry and local leadership to safeguard both the environment and the livelihoods of residents. The minister’s tour then took him to two of the district’s major licensed gold mining operations, Cardinal Namdini Mining Limited (CNML) and Earl International Group Ghana. At each site, Hon. Buah conducted on-the-ground inspections of operational areas, environmental safeguards, and worker safety measures. His message to both companies was unambiguous: compliance is not optional. He reminded the companies that the government holds the power to revoke mining licenses, and he was not shy about invoking it. “If any company fails to comply with the regulations on environmental grounds, their licenses will be revoked,” the minister declared. Both companies’ management teams responded by presenting their reclamation plans, community development projects, and environmental sustainability commitments, pledging to work closely with the Ministry, the Environmental Protection Agency (EPA), and other relevant stakeholders to uphold the highest standards. Wrapping up the tour, Minister Buah expressed gratitude to the chiefs and people of the Upper East Region for their cooperation and reaffirmed the ministry’s dedication to partnering with communities and mining firms alike, striking the delicate balance between economic opportunity and environmental stewardship. Regional officials welcomed the visit, noting that it would help align local actions with national policy and bring renewed momentum to responsible mining governance in the area. The minister’s tour sends a clear signal: in Ghana’s push to grow its mining sector, environmental accountability is no longer negotiable. Source: Apexnewsgh.com
Sam Jonah Exposes Political Capture of Ghana’s Insurance Sector
Leading business executive Sir Sam Jonah has issued a strong warning over what he describes as growing and systemic political interference in Ghana’s insurance sector, cautioning that it threatens the industry’s integrity and public trust. When Sir Sam Jonah took the podium at the 11th Annual Conference of the Insurance Brokers Association of Ghana in the Eastern Region, the room quickly understood this would be no routine address. Ghana’s most prominent business statesman had arrived with a diagnosis, and it was not a comfortable one. At the centre of his remarks was a problem he described as no longer isolated or occasional, but deeply embedded in the fabric of how insurance business is conducted in Ghana. Political interference, he warned, has moved from the margins of the industry to its very core, and the consequences are being felt across the entire sector. “There’s a growing and deeply troubling pattern of political and socioeconomic interference in the conduct of insurance business in Ghana,” he told delegates, his words carrying the weight of someone who had watched the problem grow over many years. What was once an occasional disruption, he said, has metastasised into something far more dangerous. “What was once an occasional disruption has become something more systemic, more embedded, more dangerous.” Sir Sam Jonah laid out the mechanics of this interference with striking clarity. Contracts, he revealed, are no longer being awarded based on performance or merit. Political direction, not professional assessment, is increasingly driving decisions. Insurance portfolios, particularly those belonging to state enterprises, are being handed out through personal connections and political leverage rather than competitive tender or professional selection. “Insurance portfolios are moved not through competitive tender or professional selection, but through personal access and political leverage,” he said. The distortions do not stop there. Brokers and insurers, he noted, are being pressured to accept placements they openly admit they cannot manage, taking on risks beyond their capacity simply because the instruction comes from above. And on pricing, he pulled no punches, warning that premiums are being loaded fraudulently, with no genuine risk assessment, serving purely as a vehicle for extracting money. But perhaps his most pointed remarks were reserved for the human cost of these practices. When the system fails, and he suggested it inevitably will, it is not the politically connected who bear the consequences. “When things go wrong… it is not the politically connected individuals who bear the cost. It is the taxpayer… who pays… and receives nothing in return.” He called it plainly what it is: betrayal. Beyond the financial damage, Sir Sam Jonah warned that political interference is corroding something harder to rebuild, public trust. When access matters more than competence, and connections outrank qualifications, the very institution of insurance is hollowed out from within. “It damages the institutions of insurance itself. It erodes public trust… and signals that competence is irrelevant, and that access is everything,” he said. He was careful, however, to draw a clear distinction. His concern is not with politically exposed persons participating in the industry, that, he said, is their right. What he insists on is that participation must be governed by the same professional standards that apply to everyone else. “The placement of insurance must be subject to professional standards, open competition, proper actuarial assessments, and the primacy of the policyholder’s interest,” he stated firmly. And lest anyone mistake these as aspirational ideals, Sir Sam Jonah made his position unambiguous. “These are not aspirations,” he said. “These are non-negotiable requirements.” Source: Apexnewsgh.com
GEXIM@10: Ghana Braced for Oil and Gold Price Swings, BoG Governor Assures
Dr. Johnson Asiama has highlighted Ghana’s preparedness to withstand global commodity shocks, emphasizing the critical role of reserves in safeguarding economic stability. Addressing delegates at the 10th Anniversary International Conference of the Ghana Export-Import Bank in Accra on Wednesday, March 25, Bank of Ghana Governor Dr. Johnson Asiama delivered a measured but candid assessment of the country’s economic vulnerabilities and the defences being built against them. At the heart of his remarks was a familiar challenge: Ghana’s fortunes remain deeply tied to the unpredictable rhythms of global commodity markets. Oil and gold, the twin pillars of the country’s export earnings, are subject to forces largely beyond its control, and Dr. Asiama made no attempt to downplay that reality. “Ghana is exposed to fluctuations in global commodity prices, particularly oil and gold, which make up a significant portion of our export earnings,” he acknowledged. But the Governor was equally clear that exposure does not mean vulnerability. The strategy, he explained, has been deliberate and forward-looking, centred on building reserves robust enough to absorb external shocks and keep the economy on an even keel when global markets turn hostile. “Our strategy is to ensure that we are prepared, building reserves that can absorb shocks and sustain the economy through uncertain times,” he said. “This level of reserves gives us some distance to navigate potential crises, but we must remain vigilant.” That note of vigilance was not incidental. Dr. Asiama went on to flag a scenario that keeps policymakers up at night — the prospect of simultaneous shocks hitting multiple commodity sectors at once. Ghana’s buffer strategy partly relies on one sector compensating for weakness in another, but that calculation has its limits. “We are hopeful that one sector, like gold, may offset the impact from another, such as oil. However, prolonged volatility could challenge our ability to maintain economic gains,” he cautioned. It was a frank admission that even a well-prepared economy has a ceiling on how much pressure it can absorb, and a reminder that the work of building resilience is never truly finished. The Governor’s address came at a symbolically fitting moment. The Ghana Export-Import Bank’s decade-long journey has unfolded against a backdrop of global economic uncertainty, and Dr. Asiama’s remarks reinforced a broader message: that prudent fiscal and monetary planning is not merely good practice, it is Ghana’s first and most important line of defence in a world where commodity shocks can arrive without warning and linger without mercy. Source: Apexnewsgh.com