Pump Price Movements Mark September’s First Pricing Window
As the first pricing window of September unfolds, Ghana’s fuel landscape is witnessing a flurry of price adjustments by major Oil Marketing Companies (OMCs), each charting its course in response to international and local market pressures. It all began quietly, with most OMCs, except Star Oil, holding their pump prices steady, despite projections that petrol and diesel prices would climb in the new pricing period. But Star Oil soon broke the silence, announcing its second price hike for September’s first window. The company raised the price of diesel from GH¢16.97 to GH¢17.26 per litre, and petrol from GH¢14.97 to GH¢15.43 per litre, while keeping RON 95 unchanged at GH¢17.97 per litre. Star Oil attributed these changes to rising international prices for refined petroleum products, even as the Ghana cedi showed signs of strength. In contrast, state-owned GOIL chose not to adjust its prices, maintaining those set in the previous window. Petrol at GOIL outlets remains at GH¢15.43 per litre, diesel at GH¢17.26, and Super XP 95 at GH¢17.97. The company explained its decision as an effort to offer consumers some relief at the pumps amid the ongoing price volatility. Shell, another major player, also held its ground, keeping petrol at GH¢15.99 and diesel at GH¢17.59 per litre. Its premium V-Power fuel is retailing at GH¢17.99 per litre. Meanwhile, TotalEnergies nudged its petrol price upward from GH¢15.99 to GH¢16.18 per litre, though its diesel price remained at GH¢17.59. Excellium 95, the company’s premium offering, continues to sell at GH¢17.99 per litre. These price movements reveal the complex, competitive dance among Ghana’s OMCs as they react to international refined product prices, shifts in the cedi’s strength, and each other’s strategies. With Brent crude hovering above $95 a barrel due to renewed tensions in the Middle East, the specter of further pump price hikes looms if global market pressures persist. Regulatory agencies are also active. For September’s first window, the National Petroleum Authority (NPA) has raised the price floors, the minimum legal prices at which OMCs and LPG Marketing Companies can sell fuel. Petrol’s floor is now GH¢14.53 per litre (up from GH¢13.92 in August’s second window), and diesel’s floor is GH¢15.60 per litre (up from GH¢15.19). Only LPG saw a slight decrease, slipping to GH¢10.85 per kilogram. These regulated floors set a baseline but exclude various industry premiums and margins, which each company determines independently within the guidelines. To cushion consumers, the government has extended a GH¢2 per litre reduction in the regulatory margin on diesel into September’s window. This ongoing intervention aims to soften the blow from rising international prices as OMCs revise their pump prices. As the month unfolds, all eyes will be on the pumps, and the international markets, to see if further adjustments lie ahead. Source: Apexnewsgh.com
Importers and Exporters Association Applauds GoldBod and Bank of Ghana for Enhancing Forex Stability
The Importers and Exporters Association of Ghana (IEAG) has lauded the Ghana Gold Board (GoldBod) and the Bank of Ghana (BoG) for their significant roles in stabilising the country’s foreign exchange market and promoting economic resilience. At a press conference, IEAG Executive Director Samson Asaki Awingobit highlighted the benefits that a steady foreign exchange environment brings to Ghana’s business community. He explained that the recent stability in the forex market had made it easier for importers and exporters to plan ahead, manage risks, and engage in international trade with greater certainty. Awingobit credited GoldBod’s trading policies for bolstering Ghana’s foreign exchange reserves and improving legitimate businesses’ access to hard currency. He also praised the Bank of Ghana for its commitment to macroeconomic and financial stability, singling out the recent reduction in interest rates as a welcome relief for businesses that rely on credit to fund their operations. Quoting the Bank of Ghana’s Financial Stability Review, Awingobit noted that the average lending rate fell from 30.3 percent in December 2024 to 20.5 percent by the end of 2025, a development he described as a “major boost” for importers and exporters in need of working capital. He urged both GoldBod and the BoG to maintain and expand their efforts to sustain foreign exchange stability and lower borrowing costs, particularly as the festive season approaches, a time when demand for foreign currency, credit, and imported goods typically rises. The IEAG emphasised that ongoing monetary and regulatory support would be critical in helping businesses navigate seasonal trade pressures and foster long-term economic growth. Source: Apexnewsgh.com
Ghana Gas Charts Expansion Path, Eyes Onshore Pipeline to Boost Power and Industry
The Ghana National Gas Company (GNGC) is gearing up for a major expansion drive, aiming to reinvest its strong financial gains to boost operational efficiency and make gas more accessible for power generation and industry. Chief Executive Officer Judith Adjobah Blay announced that the company’s next focus will be on expansion and reinvestment, following its recent financial success. “That is the next phase, beyond profit, there is expansion and reinvestment into Ghana Gas,” she stated. Central to these plans is a proposed onshore pipeline project that would stretch from Takoradi to Tema, extending the supply of gas from the Atuabo processing facility beyond the Western Region. The pipeline would traverse the Central and Eastern regions, ultimately reaching the industrial hub of Tema. GNGC anticipates that the expanded infrastructure will support industrial growth along the pipeline’s route by making gas more available to businesses and factories in those areas. The company’s ambitious expansion plans were showcased during an industrial tour by the commissioners and management of the Public Utilities Regulatory Commission (PURC), GNGC’s economic regulator. Richard Kirk-Mensah, Head of Corporate Communications at Ghana Gas, said the visit provided PURC with an invaluable opportunity to witness the company’s operations and expansion projects firsthand. “Their visit aims to give them insight into Ghana Gas’s operations, particularly the expansion projects at their sites. Rather than just presenting slides and discussing verbally, allowing them to see the facilities and the ongoing work firsthand will give them a better understanding of the company’s plans and activities,” Kirk-Mensah explained. With its sights set on expansion and reinvestment, Ghana Gas is positioning itself as a key driver of Ghana’s industrial and power sectors, promising increased availability and reliability of gas supply for years to come. Source: Apexnewsgh.com
Parliament to Probe $1.7 Billion Gold Board Loss, Summon GOLDBOD CEO
Parliament is set to open an inquiry into the reported US$1.7 billion loss recorded by the Ghana Gold Board (GOLDBOD) under the Domestic Gold Purchase Programme (DGPP). The move follows a formal motion filed by the Minority Caucus, seeking a parliamentary investigation and the summoning of GOLDBOD Chief Executive Sammy Gyamfi to provide explanations regarding the controversial transactions. Speaker of Parliament Alban Bagbin confirmed the development, stating that parliamentary scrutiny would help clarify whether the reported $1.7 billion (GHS22 billion) constitutes a genuine financial loss or a policy-related cost associated with the DGPP’s implementation. “With the motion they have filed, which was received in my office on the 21st of August, 2026, just three days ago, I have gone through the motion myself and I intend to admit the motion because we have to at least have an end to litigation as to whether it’s a loss or it’s a cost,” he said. Bagbin explained that the parliamentary process would allow lawmakers to thoroughly examine the issue and bring clarity to the public. He added that Ghanaians would have the opportunity to follow the proceedings and form their own informed opinions. “This House will have the opportunity to go through it. And please, Ghanaians are very intelligent people. They will listen, they will read in between the lines and they will make their decisions,” he said. The upcoming inquiry is expected to provide much-needed transparency and accountability on the financial management of the DGPP and the reported multi-billion dollar loss. Source: Apexnewsgh.com
World Bank Warns Majority of Ghanaians Still in Poverty Amid Uneven Economic Growth
Despite recent economic growth, more than half of Ghanaians continue to live in poverty, according to new findings from the World Bank. At the launch of the World Bank Group’s 10th Ghana Economic Update, Dr. Robert Taliercio O’Brien, Division Director for Ghana, Liberia, and Sierra Leone, revealed that 56.4% of Ghanaians remain poor, with growing spatial disparities highlighting a worrying disconnect between the country’s economic performance and everyday living conditions. “56.4% of Ghanaians remain in poverty. And spatial disparities are widening,” Dr. Taliercio O’Brien stated. He pointed out that while Ghana has recorded headline growth, the benefits have yet to reach a broad base of the population. “It’s a disconnect between the headline growth that is yet to reach most of the population,” he added. The World Bank’s report also cited the structure of Ghana’s economic growth as a major concern. According to Dr. Taliercio O’Brien, the sectors driving growth have limited capacity to create jobs, a problem that is becoming more pronounced as Ghana’s youthful population enters the labour market. “Growth is led by sectors with limited employment absorption relative to its growing young population entering the labour market in the next decade,” he explained, describing the situation as a “structural imbalance that also demands urgent attention.” The findings underscore the need for targeted policy interventions to ensure that economic gains translate into real improvements in living standards for all Ghanaians, not just a select few. Source: Apexnewsgh.com
Finance Minister Forson Vows Disciplined Approach to Project Financing to Safeguard Ghana’s Economy
Ghana’s Finance Minister, Dr. Cassiel Ato Forson, has pledged a more disciplined and strategic approach to financing development projects as the country moves to protect its economic stability and avoid another debt crisis. Speaking at the Fifth Session of the Ghana–China Joint Commission on Economic, Trade and Technical Cooperation, Dr. Forson outlined a new set of priorities for government spending and borrowing. “Ghana will now proceed with discipline. We will not borrow simply because financing is available,” Dr. Forson asserted, signaling a shift in policy from past practices that contributed to rising national debt. He emphasized that all projects, whether roads, railways, power plants, or industrial enclaves, must be economically justified, transparently procured, and capable of boosting growth, generating revenue, or reducing costs. “Any road, railway, power plant, industrial enclave or other infrastructure financed through this cooperation must improve productivity, create jobs, increase exports and strengthen Ghana’s ability to repay its obligations,” he said. Dr. Forson stressed the need for measurable economic benefits from every project funded, particularly in partnership with international stakeholders such as China. He also announced that government would diversify its financing sources while maintaining a firm focus on debt sustainability. “We will diversify our financing sources, protect debt sustainability and avoid a return to the conditions that led to the 2022 debt crisis,” he stated, underlining the administration’s commitment to prudent fiscal management. As Ghana looks to the future, Dr. Forson’s remarks set a tone of accountability and discipline, aiming to ensure that development projects deliver real value and that the nation’s finances remain secure. Source: Apexnewsgh.com
BoG Governor Dr. Asiama: Reserve Build-Up Shields Economy from Global Shocks
Bank of Ghana (BoG) Governor, Dr. Johnson Asiama, has highlighted the vital role played by Ghana’s international reserves in protecting the nation’s economy from recent global turbulence. Addressing Economics students from the University of Ghana and the University of Ghana Business School during “Time with the Governor,” Dr. Asiama reflected on the country’s response to mounting external pressures, particularly those stemming from tensions in the Middle East. “In the past three to four months, we have faced significant challenges with our international reserves,” Dr. Asiama noted, referencing a US$1.2 billion decline that saw Ghana’s reserves fall from US$14.1 billion to US$12.9 billion, according to the latest Bank of Ghana data. “I am therefore not surprised that we lost 1.2 billion reserves.” Despite the losses, Dr. Asiama credited last year’s strategic decision to build up reserves as a crucial buffer. “One of the good things we did last year was to build some high reserves for interesting times like this,” he told students attending the 131st Monetary Policy Committee meetings as part of the MPC Educational Observership Programme. He explained that the reserve build-up has given the central bank the flexibility to respond to global economic shocks and continue supporting critical sectors. “Managing the impact of external shocks involves difficult choices,” Dr. Asiama said, emphasizing the importance of strengthening Ghana’s foreign exchange earnings. Looking ahead, the Governor called for increased focus on cocoa and non-traditional exports as drivers of reserve growth. He revealed that non-traditional exports currently make up about 10% of total exports but should be pushed to 15%. Dr. Asiama also identified remittances as a potential avenue for bolstering reserves and economic development. He urged that more of the over US$8 billion received annually through remittances be directed into productive investments rather than consumption. As Ghana continues to navigate a challenging global environment, Dr. Asiama’s message was clear: prudent reserve management and strategic export growth are essential to safeguarding the country’s economic stability. Source: Apexnewsgh.com
Concerns Mount Over Future of Aayalolo Terminals Amid Demolition and Redevelopment Plans in Accra
In Accra, growing unease is spreading among urban transport stakeholders as key Aayalolo terminals face uncertain futures. Facilities once hailed as pillars of the city’s modern transport system are now at the centre of debates that could impact efforts to decongest the capital and improve public mobility. At the heart of the controversy lies the Kinbu Terminal, situated in Accra’s bustling Central Business District (CBD). Built with World Bank support as part of the Urban Transport Project, the terminal serves as a critical hub for Aayalolo bus operations. However, recent plans to construct stalls on the premises have sparked tension among drivers, who worry that shrinking parking space could disrupt their services and undermine the terminal’s original purpose. Stakeholders are questioning whether commercial activities are being prioritised over public transportation needs and if the Aayalolo service’s operational requirements are still being considered in long-term planning. Simultaneously, reports of the demolition of the Achimota New Station Bus Terminal to make way for a proposed 24-hour market have alarmed transport experts. The Achimota terminal, also developed under the Urban Transport Project, was designed to serve as a gateway for northbound vehicles and to prevent unnecessary traffic in the CBD. Its removal, stakeholders argue, risks undoing years of progress toward a more integrated and efficient transport system for the city. Concerns go beyond infrastructure. Transport operators say the Aayalolo Bus Rapid Transit (BRT) system, inaugurated in 2016 and operated by GAPTE, has yet to reach its full potential. While the service offers subsidized fares as a social intervention, it continues to buy fuel at commercial rates and lacks sustained government financial backing. The gradual loss of dedicated BRT lanes has forced buses to compete with private vehicles, reducing efficiency and reliability. Promised government interventions, such as additional buses, have often benefited inter-city operators rather than GAPTE’s intra-city routes. Stakeholders highlight that the 2026 Mid-Year Budget Review mentioned plans for more buses, but did not earmark any specifically for GAPTE. As a result, calls are intensifying for the government to provide targeted support: restoring dedicated bus lanes, investing in infrastructure, and ensuring GAPTE receives additional vehicles to ease congestion, especially with increased demand expected during the festive season. With Michael Kpakpo Allotey, Accra’s Metropolitan Chief Executive, also chairing GAPTE’s board, stakeholders are demanding transparency about terminal management and long-term urban transport plans. They warn that Ghana’s investment in modern infrastructure will only pay off if protected and properly managed. As Accra’s population swells and traffic pressures mount, the fate of its urban transport system—and the daily experience of commuters, may hinge on how these pivotal decisions about infrastructure and investment are resolved. Source: Apexnewsgh.com
Rev Charles Owusu Demands Answers Over Gold Losses, Rejects Shielding of GOLDBOD Boss
Rev Charles Owusu has added his voice to the growing chorus of calls for greater transparency over Ghana’s reported gold sector losses, insisting that whether the loss occurred at the Bank of Ghana or the Gold Board (GOLDBOD), the public deserves clear answers. Speaking candidly on Peace FM, Rev Owusu questioned why GOLDBOD Chief Executive Sammy Gyamfi appeared to be shielded from proper scrutiny. While he acknowledged that GOLDBOD has brought significant inflows, over $10 billion, into the country, he argued that this achievement does not excuse the need for accountability regarding the reported $1.7 billion (GH¢22 billion) loss. “So what you’re saying is we shouldn’t question this? Is it because you say you’ve brought over $10 billion into the country and so if there’s a $1.7 billion loss, we shouldn’t ask questions over it?” Rev Owusu challenged, calling for open and honest discussion of the facts. He also pointed out that the Bank of Ghana has not disputed the International Monetary Fund’s (IMF) figure regarding the loss, raising further questions about the lack of accountability. Rev Owusu suggested that GOLDBOD may be receiving special treatment simply because of its current leadership, and questioned whether the same leniency would be extended if the roles were reversed. “Would the NDC ask us to be quiet about it if the NPP had made such a loss in a gold for oil transaction?” he asked pointedly. With the controversy showing no signs of fading, Rev Owusu’s remarks add renewed urgency to calls for transparency and accountability in the management of Ghana’s gold resources. Source: Apexnewsgh.com
Fiifi Boafo Urges GOLDBOD to Address Gold Losses, Not Trade Insults
A fresh wave of controversy has erupted over Ghana’s gold transactions, with Fiifi Boafo, spokesperson for former Vice President Dr. Mahamudu Bawumia, taking aim at the Gold Board (GOLDBOD) for its recent handling of public concerns about reported losses. During an interview on Asempa FM, Mr. Boafo criticized the tone and substance of recent statements from GOLDBOD Chief Executive Sammy Gyamfi and NDC communicator Eric Adjei. According to Boafo, instead of providing clarity on the reported $1.7 billion loss, GOLDBOD’s response had become overly emotional and focused on personal attacks, rather than the facts. “If you listen to Sammy Gyamfi’s press conference and Eric Adjei’s comments, it proves that instead of addressing the issues, now emotions are driving the conversation, which should not be the case,” he observed. Boafo referenced an IMF report which, in his view, confirmed that the government incurred losses through gold sales managed by GOLDBOD. “It is true government made losses, and it was through gold, and GOLDBOD went to buy it,” he asserted. He argued that GOLDBOD should have responded by explaining its role in the losses instead of “turning its response into insults and casting aspersions.” The spokesperson drew a contrast with Dr. Bawumia’s measured response to previous allegations linking him to the Hubtel online payment platform, suggesting that GOLDBOD’s leadership should similarly maintain decorum. He added, “We expect GOLDBOD to come and say the loss is not from them but the Bank of Ghana.” Boafo also criticized Sammy Gyamfi’s reaction to Minority Leader Alexander Afenyo-Markin’s remarks about possible bail conditions if the GOLDBOD CEO were to be arrested over the reported loss. “You called Akufo-Addo and Bawumia criminals, but you are upset over talk about bail terms for you? I want him to learn a lesson here, that the whip used on one child will be used on the other child soon after,” Boafo commented pointedly. Recalling the earlier uproar over a GH¢400 million loss under the Gold-for-Oil programme, Boafo said the current government should be especially open to scrutiny. He accused the government of shielding GOLDBOD’s CEO due to his status as an NDC “darling boy” and demanded assurances that such losses would not recur. “We need the assurance that going forward, we will not experience this sort of loss,” Boafo insisted, emphasizing that interventions by the Bank of Ghana involve taxpayers’ money. He concluded that Ghanaians deserve full transparency and accountability regarding how public funds are being managed in the gold sector. Source: Apexnewsgh.com