Author: Editorial Staff

Global oil markets were shaken on Monday as prices spiked after Donald Trump issued a dramatic 48-hour ultimatum to Iran, heightening concerns over a potential long-term supply crunch. Brent crude climbed 0.6% to $112.91 per barrel, while West Texas Intermediate (WTI) rose 0.8% to $99.05 in volatile early trading, holding close to recent highs as geopolitical tensions rattled investor confidence. The spike comes amid mounting uncertainty over the fate of the Strait of Hormuz, a critical artery through which nearly 20% of global oil supply flows. Iran has effectively blocked the passage since the escalation of conflict with the U.S.…

Concerns over the management and accountability of Ghana’s mineral revenues are deepening, with the Centre for Extractives and Development Africa (CEDA) warning that oversight in the sector remains significantly weaker than in the petroleum industry. Speaking after a media training session on improving transparency and accountability of the Minerals Income Investment Fund (MIIF), CEDA’s Executive Director, Samuel Bekoe, pointed to a critical gap in public scrutiny of mineral revenues. He noted that while the petroleum sector has benefitted from structured oversight through the Public Interest and Accountability Committee (PIAC), no equivalent mechanism exists to track and evaluate how mineral revenues…

The Ghana Gold Board has emerged as the standout performer at this year’s Public Enterprise League Table (PELT) Awards, clinching the coveted State-Owned Enterprise (SOE) of the Year title in a dominant showing that signals its growing influence in Ghana’s economic landscape. Organised by the State Interests and Governance Authority, the awards saw GoldBod secure a remarkable triple victory—also taking home the titles for Overall Best Specified Entity and Most Profitable SOE. Receiving the awards on behalf of the Board, Richard Nunekpeku described the achievement as a major milestone, while pledging sustained performance and higher targets. “We are proud of…

Parliament has approved a major lithium mining lease agreement for the Ewoyaa concession in the Central Region, marking Ghana’s formal entry into the fast-growing global market for green minerals. The agreement, signed between the Ministry of Lands and Natural Resources and Barari DV Ghana Limited, covers a 42.63 square kilometre area in the Mfantsiman Municipality and grants rights for the extraction of lithium and other associated minerals. The Minister for Lands and Natural Resources, Emmanuel Armah-Kofi Buah, presented the agreement to the House in line with constitutional and legal requirements, after which it was referred to the Parliamentary Committee on…

Deputy Attorney-General Justice Srem Sai has strongly criticized what he calls “one-sided” extradition deals, making it clear that Ghana won’t back any global anti-fraud framework that unfairly singles out African suspects without ensuring equal accountability from all sides. Speaking on the opening day of the Global Fraud Summit, held under the auspices of the United Nations Office on Drugs and Crime and INTERPOL, he stressed that Ghana’s participation in any international agreement would depend on fairness and mutual legal cooperation. He argued that existing proposals risk creating a system where cybercrime suspects are routinely extradited to Western countries, without equivalent…

President John Dramani Mahama has directed tenants across Ghana to report landlords who demand rent advances beyond the legal limit, signalling a tougher stance against what he describes as growing exploitation in the housing sector. Speaking at a meeting with Organised Labour at the Jubilee House on Tuesday, March 17, the President expressed concern over the increasing cost of accommodation, warning that rent is taking a heavy toll on household incomes. He stressed that enforcing existing rent laws is critical to protecting tenants, particularly as many landlords continue to demand advances far exceeding the legally permitted six months. “Housing is…

Ghana is set to receive a major economic boost as the World Bank Group commits over $3 billion to drive job creation and long-term growth across key sectors of the economy. The investment package will focus on agriculture, energy, education and private sector development, in what officials describe as a strategic shift toward sustainable economic expansion and employment generation. Managing Director of the World Bank Group, Paschal Donohoe, announced the commitment during an engagement with lawmakers, stressing the institution’s intention to deepen its partnership with Ghana beyond financing. “We are working with the government and with your private sector to…

A widening gap between benchmark interest rates and actual lending costs is raising fresh concerns about credit access in Ghana, even as monetary conditions improve significantly. Latest data from the Bank of Ghana shows the average lending rate declined to 19.7% in February 2026, down sharply from 30.12% a year earlier. Yet, the pace of reduction is lagging behind expectations, especially in the face of aggressive easing in key policy indicators. At the center of the disconnect is the Ghana Reference Rate, which has dropped dramatically to 14.58% from 29.96% over the same period—signaling a much faster improvement in underlying…

Ghana’s public debt profile in 2025 reveals a striking contrast, with a stronger cedi masking a sharp surge in external borrowing, according to latest data from the Bank of Ghana (BoG). The country’s total public debt in dollar terms jumped by $11.9 billion within the year, rising from $49.4 billion in December 2024 to $61.3 billion by December 2025. The increase reflects sustained borrowing and expanded fiscal activity despite ongoing economic reforms. However, in a surprising twist, the debt burden declined in local currency terms. Public debt dropped from GH¢726.7 billion to GH¢641 billion over the same period, largely due…

The Bank of Ghana has intensified efforts to stimulate economic activity, cutting its benchmark policy rate by 150 basis points to 14 percent in a move aimed at boosting lending and supporting growth. The decision, announced after the 129th meeting of the Monetary Policy Committee (MPC), marks the second rate reduction in 2026 and signals a clear policy shift from tight monetary control toward easing conditions. Governor Johnson Asiama said the move reflects growing confidence in Ghana’s macroeconomic recovery, even as global uncertainties persist. According to him, the rate cut is designed to lower borrowing costs and improve access to…