AGP Executive Report

Monetary Policy & FX: Ghana’s MPC begins its September meeting as inflation edges to 5% and the cedi faces renewed pressure, with analysts watching whether the BoG holds or tweaks the 14% policy rate amid external risks and gold-linked reserve concerns. Water & PPP Liability: Ghana Water Limited is hit with an ICC arbitration order to pay about US$235m over the idle Teshie desalination plant, as government negotiates a discounted buyout to limit the damage to the public purse. Reserves Watch: BoG data show gross international reserves fell by about US$1.9bn from June to August, shrinking the external buffer and raising risk to the country’s dollar position. Utilities Relief: PURC keeps electricity and water tariffs unchanged for Q4 2026, citing exchange-rate, inflation and generation mix assumptions. Telecom Growth: NCA clears the way for Telecel’s 5G expansion by awarding it three spectrum lots in the 2.3GHz band. Agri Finance Innovation: GAIP pilots Germination Index Insurance for smallholder farmers, using rainfall data to trigger payouts without farm-by-farm assessments. Business & Skills: Ghana TVET Service meets BoG to push skills development for economic transformation, while ORC launches Risk Awareness Week to strengthen resilience and service delivery. Markets & Policy Implementation: Agbogbloshie 24-hour market redevelopment is paused for more consultations, reflecting trader concerns. Entrepreneurship Push: NIRSAL highlights N100bn+ in guaranteed agricultural loans and expands capacity-building, as Ghana urges entrepreneurs to build sustainable, value-driven enterprises. Security & Governance: National Security and BMA report major counterfeit currency and drug-related enforcement actions, while NPP calls for stronger action against cocaine trafficking.

Trade & Investment: Ghana and China reaffirmed commitment to deepen cooperation, with trade and industrialisation highlighted after a 77th anniversary reception in Accra. Public Finance & Infrastructure: Government is negotiating to buy the idle Teshie desalination plant to avert a US$235m arbitration liability, with the Attorney-General saying the tribunal rejected a larger $402m claim. Business & Regional Markets: Accra hosts the West African B2B Connect (WABC 2026) from Sept 25–27 to link Togo and Ghana firms under AfCFTA, with SMEs and startups in focus. Digital Skills & Youth Jobs: Ghana signed an Intel deal to expand AI education in K-12 classrooms, while Kenya’s Masterkey digital skills mobility corridor under the Accra Reset aims to make qualifications and work records portable across borders. Governance & Rule of Law: EOCO’s attempted arrest of Manhyia South MP Nana Agyei Baffour Awuah at the High Court sparked pushback from MPs and legal voices over procedure and protocol. Education & Inclusion: Sign Language is set to become a compulsory basic school subject within five years after NaCCA approval for piloting. Health Systems: Agenda 111 hospital projects face risk of going to waste unless stalled facilities are completed, with calls for renewed funding and prioritisation.

State-Owned Debt Relief: Ghana’s Finance Ministry is set to write off about US$120m of Tema Oil Refinery (TOR) legacy debt in the 2026 budget, cutting TOR’s liabilities further as management negotiates discounts with creditors like Sahara and BP. Central Banking Watch: The Bank of Ghana says inflation is rising (to 5.0% in August) but still below target; it’s also flagging liquidity and exchange-rate risks from higher spending, debt financing, slowing gold shipments, and reserve pressure. Drug Prosecution Debate: MP Rev. John Ntim Fordjour questions “high-profile busts” followed by “low-profile prosecutions,” arguing financiers and organisers should face tougher action. Tourism & Trade: Ghana will mark World Tourism Day 2026 with a week-long Koforidua celebration merged with Eastern Expo, featuring a digital/AI tourism workshop. Capital Markets Digital Push: The CSD launches Investor Connect to let investors view holdings and open accounts digitally. Agri-Finance Focus: Ecobank urges banks and agri institutions to move beyond loans toward record-keeping, market access, and measurable green-finance outcomes. Aviation Deal: Ghana and Trinidad and Tobago sign an air services agreement to boost connectivity and cooperation. Business Promotions: The Luckiest launches Season 4 with a GH₵5m grand prize and instant rewards for eligible ticket buyers.

Power & Utilities: ECG begins a mass revenue mobilisation in Volta and Oti (Sept 23–Oct 2), warning of disconnections and action against illegal connections. Transport Costs: Public transport fares rise 8% from Sept 26 after talks between GPRTU and the Ministry of Transport, with operators citing fuel and maintenance pressures. Water & Public Finance: Ghana Water faces a US$235m liability after an ICC arbitration over the idle Teshie-Nungua desalination plant, with the state also found liable under a guarantee. TVET Policy: Ghana TVET Service warns institutions against charging unauthorised fees during admissions, stressing the Free TVET policy. Crime & Trade Integrity: National Security arrests 16 and dismantles four counterfeit currency printing hubs in Greater Accra, seizing cash and printing equipment. Drugs & Governance: Catholic Bishops urge tougher action after France’s Dunkirk seizure of nearly 3.9 tonnes of cocaine allegedly shipped from Ghana. Local Development: Akuse residents protest the deplorable Akuse-Amedeka-Asutsuare road, demanding government intervention. Industry & Innovation: Ghana moves to secure Geographical Indication protection for Akpeteshie to boost branding and market access. Health Infrastructure: KATH in Kumasi works to complete a hostel for relatives of patients, citing contractor delays.

Road Safety & Enforcement: A new commentary flags that Ghana’s road deaths have risen despite a decade of speed-awareness efforts, questioning how driving licences are issued and whether offenders face real punishment. Fuel & Downstream Stability: The NPA says it is ready for fuel-price turbulence as Ghana remains import-dependent for refined products, raising petrol and diesel price floors and warning of global market shocks. Forex & Cost of Living: The cedi eased slightly on Sept 22, with forex bureau rates around GHS11.80–12.15 per $1 and BoG interbank near GHS11.54–11.56. Energy Transition: Ghana’s PV capacity hit 276.7MW by end-2025, with targets to add hundreds of MW more by 2030 via utility-scale, distributed solar and mini-grids. Capital Markets: The GSE retreated 2.06% in the week to Sept 18 as turnover fell and market capitalisation slipped by about 2.19%. Tax & Revenue Mobilisation: Finance Minister Cassiel Ato Forson urged stronger regional tax cooperation to protect domestic revenue and negotiate better on global tax rules. Diaspora & Policy Dialogue: The President’s Diaspora Townhall at Christiansborg seeks direct input to strengthen Ghana’s partnership with Ghanaians abroad. Sanitation & Jobs: Jamestown landfill evacuation is underway to reclaim land for tourism and local economic activity. Media & Governance: Ghana won the bid to host the 6th FAJ Continental Congress, spotlighting media freedom and journalists’ labour rights.

Fire Safety & Regulation: Interior Minister Muntaka Mohammed-Mubarak commissioned a Ghana Fire Code Committee to draft a modern, enforceable national fire code, with rules tailored to local building practices and emerging risks. Roads & Jobs: Government says it has invested GH¢4.12bn in Bono Region road projects covering about 252km, aiming to cut transport costs for farm produce and open up business opportunities. Digital Economy & Skills: A push is growing for basic coding and AI literacy in schools so students can understand and use digital tools for work, business and public services. MSME Costs: Research highlights how municipal permits and licences are draining small businesses, with average permit and licence costs running into the thousands of cedis. Health & Patient Safety: FOCOS Orthopaedic Hospital urges stronger patient education for non-communicable diseases, stressing lifestyle, screening and adherence beyond medicines. Education Pressure: Parents in Tema complain about rising SHS school supply prices, including chop boxes, trunks, mattresses and bags. Cocoa Finance Link-Up: Africa’s cocoa push heads to New York as the Africa Cocoa Finance & Investment Forum connects producers and processors to global capital. Banking Access: OmniBSIC Bank relocates its Dome branch to a larger facility to improve customer experience. Regional Justice: ECOWAS Court of Justice will hold its 2026 international conference in Dakar on justice, innovation, human rights and regional integration.

ECOWAS Reform Push: Experts at Accra’s Nyansa Dialogue Series say ECOWAS must overhaul institutions to stay relevant as youth frustration grows and security and service delivery lag. Child Labour & Food Security Philanthropy: YouTuber MrBeast unveiled a nearly $10m Abna Dakwa village in Ghana with a school, clinic, water, farms and solar—backed by the Rockefeller Foundation for free school meals. Monetary Policy Watch: African central banks are expected to keep rates high as energy, food and global inflation risks persist; the US Fed’s first rate hike since 2023 adds pressure for Ghana, Nigeria and South Africa’s MPC decisions. US Exchange Visitor Rule: The US State Department lists 44 countries, including Ghana and Nigeria, subject to a two-year home residency requirement after exchange programmes. Standards & Revenue: Ghana Standards Authority reports 18% revenue growth in 2025 and expanded testing and certification for local manufacturers. Sanitation Funding Oversight: Parliament’s sanitation committee backs DACF’s 10% allocation after Volta and Oti MMDAs show practical water and sanitation results. Procurement Skills: KRIF Ghana launches a Procurement Masterclass 2026 on buying better beyond price, focusing on total value and risk. Fuel Cost Pressure: NPA says insurance costs are stable while fuel remains the main cost driver as transport fare hikes face scrutiny. Non-Profit Regulation: Government unveils new guidelines to strengthen regulation and support for Ghana’s non-profit organisations. Cox Desalination Arbitration: Cox Infrastructure wins final arbitration awards worth $235m against GWCL, with Ghana’s state guarantee covering amounts.

Economic Outlook: IC Insights says Ghana’s GDP growth should re-accelerate in the second half of 2026, with ICT tipped to stay the growth anchor as oil & gas output recovers. Pensions: As 2027 pension indexation nears, SSNIT and NPRA are urged to apply fairness, transparency and sustainability principles to protect pensioners’ purchasing power. Banking & Credit: Foreign-owned banks still dominate Ghana’s secured lending market, holding 71.1% of secured credit in Q2 2026, though indigenous banks’ growth is faster. Public Finance: Government missed its T-bills target in a recent auction; 91-day yields held at 4.69% while other tenors eased. Governance & Accountability: NDC’s Asiedu Nketiah tells journalists to keep ministers under scrutiny and track whether promises translate into delivery. Sanitation & Waste: Parliament’s sanitation committee calls for stronger government–investor–private waste company collaboration, pushing beyond collection to recycling. Transport & Standards: Ghana Standards Authority plans tighter vehicle import enforcement from Oct 1, 2026, including limits on used vehicles over 15 years. Security & Trade: Reports highlight West Africa’s growing role in cocaine trafficking and renewed calls for tougher outcomes in major drug cases.

Sanitation & Jobs: President Mahama has commissioned a National Emergency Waste Evacuation Exercise at Agbogbloshie, aiming to remove about 1 million tonnes of waste in 90 days to the Adepa Engineered Landfill near Nsawam, with reclaimed land earmarked for an urban renewal push including an industrial park. Public Health & Governance: World Cleanup Day (Sept 20) kicks off sanitation education in Greater Accra, focusing on safe waste disposal, hygiene and gutter desilting to prevent disease. Agribusiness: Ghana is positioning cashew as a strategic crop for value addition, targeting a shift from raw exports by improving productivity, quality planting materials and post-harvest handling. Digital Economy: Ghana’s push for trusted digital assets and cross-border fintech growth gets a boost as tax and communication stakeholders call for stronger regional coordination and clearer market information. Energy & Industry: GNPC Explorco advances Voltaian Basin drilling preparations, including a 13.5km access road to the proposed Chegu well site. Sports & Talent: University of Ghana returns from the FASU Games in Cairo with 23 medals, urging more investment in university sports infrastructure. Trade & Compliance: GRA calls for stronger African tax cooperation and technology-driven compliance to broaden the tax base and support sustainable development.

UN & Investment Diplomacy: President Mahama has departed Accra for New York for the 81st UN General Assembly, where he will host side events on the “Accra Reset” and reparatory justice, deliver Ghana’s main statement, and meet global leaders and business executives. Digital Assets & Trade: Ghana is pushing a “trusted digital assets” ecosystem, with regulators and industry calling for regulation that protects consumers while unlocking investment and jobs. Tax & Revenue Mobilisation: The GRA boss urged stronger regional tax cooperation and wider use of digital tools to broaden the tax base and improve compliance. Sports & Public Finance: Kofi Adams says government can facilitate Ghana supporters for major tournaments, but cannot use budgeted parliamentary funds for that purpose. Agri-Business Pressure: Shai-Osudoku residents protested unsold local rice and poor roads, demanding action to protect rice farmers from imported rice dominance. Banking & Liquidity: Bank of Ghana absorbed GH¢21.41bn in liquidity via short-term bills, signalling continued monetary management ahead of the next MPC decision. Women & Youth Enterprise: Standard Chartered Foundation’s Women in Tech Accelerator graduated 10 entrepreneurs with grant support, while BAC’s BizBox training is equipping young women with practical skills to start businesses. Public Health & Consumer Safety: FDA seized 57,000 unregistered baby diapers in Bono markets, warning traders to register and sell only certified products. Sanitation & Jobs: Mahama ordered intensified enforcement around Agbogbloshie during the waste evacuation, linking reclaimed land to an industrial renewal plan.

Electricity & Land Use: GRIDCo and the Information Services Department begin a 12-day sensitisation in Ashanti to clear encroachers from high-voltage transmission right of way, warning that access is vital for fast repairs and public safety. Fire Safety Regulation: Interior Minister Muntaka Mohammed-Mubarak commissions a Ghana Fire Code Committee to draft a modern, enforceable national fire code with World Bank support. Maritime Security: MARSEC urges the Ghana Maritime Authority to keep leading maritime awareness and information sharing to counter piracy, illegal fishing and trafficking risks. Mobile Money Growth: MobileMoney Fintech launches “MoMo Hour,” an app-exclusive campaign rewarding qualifying transactions during announced one-hour windows, running Sept 8–Dec 18. Education Access: GES orders SHSs/SHTSs to stop rejecting admitted boarding students over trunks or chop boxes, saying schools must not discriminate based on parents’ ability to buy specific storage items. Public Finance Oversight: Foreign Affairs asks the Auditor-General for a special audit of emergency evacuation spending since 2017, including the South Africa operation. Standards & Industry: Ghana Standards Authority reports 18% revenue growth in 2025, with expanded testing and verification activities. Jobs & Skills: AfDB-backed GWYESCO targets 22,000 jobs, skills training for youth and women, and credit access for MSMEs across seven regions from 2026–2029. Diaspora Policy: Government reviews the GH¢25,000 citizenship fee after diaspora concerns it may discourage formal ties. Aquaculture Investment: Volta House of Chiefs signs an MoU with Chinese firm Moaming Yuantian Food Co. to scale fish farming in the Volta Basin.

Digital Payments for SMEs: Access Bank Ghana and Visa launched “Visa Accept,” a virtual POS in the Access Bank app to help nano and small merchants accept card/QR/link payments and build transaction records for easier formal credit. Public Health & Consumer Protection: Bono FDA seized 57,000 unregistered baby diapers in market surveillance across Sunyani, Berekum and Dormaa, with enforcement teams supported by police and intensified trader sensitisation. Cocoa & Agribusiness: Mars reported progress in its Cocoa For Generations programme, citing 98% responsible sourcing and new cloning/planting materials as it navigates cocoa volatility and climate pressures. Governance & Accountability: A German delegation visited Tano North to observe citizen monitoring under MIHOSO/GIZ’s SARD project, aimed at stronger local accountability in infrastructure delivery. Jobs & Industrialisation: President Mahama commissioned the evacuation of Agbogloshie waste heaps to Adepa Engineered Landfill to clear the way for an industrial park, including plans for a major textile factory. Trade, Security & Compliance: CID investigations into the “Ghana Jollof” TikTok account linked alleged transfers from influential persons to a nursing officer for content distribution. Education & Skills: UESD and Maleka Farms launched an aquaculture scholarship (MESAS) to support financially challenged students, while an MP in Yilo Krobo provided learning materials to 550 SHS entrants. Regional Development: Volta House of Chiefs signed four agreements with Chinese firms covering digital transformation, infrastructure, investment facilitation and aquaculture in the Volta Region.

Freedom of Expression Under Fire: MP Abena Osei-Asare warns Ghana against using criminal libel-style laws to punish critics of power, after a nurse was remanded over alleged “Ghana Jollof” TikTok false-news links. Fuel Supply & Regional Trade: BOST Energies cuts diesel and gasoline exports to Burkina Faso and Mali to protect Ghana’s domestic demand, while insisting there’s no imminent local shortage and plans include LPG terminals in Tema and Kumasi. World Cup Finance Scrutiny: Ghana’s Minority demands a line-by-line account of GH¢58m (and fundraising) for the Black Stars, while Sports Minister Kofi Adams says Ghana expects about $12.5m FIFA payment by end of September. Education Infrastructure Boost: Ghana targets ending the double school shift by end-2027 with $300m World Bank support for new schools and expanded capacity. Cocoa & Trade Partnerships: Meiji expands Ghana cocoa partnerships, signing agreements on sustainability and agroforestry with local partners. Sanitation Upgrade: KoKMA inaugurates a new Tudu sanitation facility to curb open urination. Digital Business Discovery: Accra’s street directory and Modern Ghana’s business listings highlight how structured online directories are becoming vital for local commerce. Climate Jobs Angle: Green entrepreneurship is framed as a practical route to cut poverty and create jobs through climate-smart solutions.

World Cup Finance Fallout: Ghana’s Minority in Parliament is demanding a line-by-line, full reconciliation of the GH¢58m spent on the Black Stars’ 2026 FIFA World Cup campaign, and also wants clarity on about GH¢115m raised through fundraising, including who paid, what it covered and any remaining balances. Food Supply Pressure: Tomato farmers in Anloga-Avume say post-harvest losses are soaring because of a shortage of harvesting crates and lack of buyers, calling it a national food security and jobs issue. Public Accountability & Governance: Finance Minister Cassiel Ato Forson insists he has a “clean conscience” in managing public funds, while the Minority presses for more detailed spending disclosures. Energy Safety Enforcement: GRIDCo has given Ejisu residents and traders 30 days to vacate encroached right-of-way areas to protect transmission infrastructure and public safety. Skills & Jobs: GTVETS and DTI sign a TVET partnership to improve industry linkages and youth employability, while Wa East apprentices receive industrial tools under the National Apprenticeship Programme. Banking Expansion: Fidelity Bank opens its 82nd branch at New Sebrepor–Afienya to boost access for growing communities. Mining Communities Voice: ActionAid Ghana launches a 24-month VOICES project to strengthen mining-affected communities’ participation in decisions on land, livelihoods and natural resources. Agribusiness Support: Asanko Gold rolls out phase two of its community agricultural support programme for smallholder farmers with inputs and training.

Black Stars Bonuses: Sports Minister Kofi Adams says payment of outstanding World Cup bonuses is delayed over tax talks, with government waiting for clarity on who bears the tax responsibility. Parliament Probe: Former Sports Minister Mustapha Ussif is set to appear before the Youth and Sports Committee over alleged GH¢580m irregularities and procurement breaches tied to the 2023 African Games. Education & Housing: UCC will get a US$500m PPP to build 28 hostel blocks for up to 28,000 students, with charges meant to stay affordable. Agribusiness: Maize prices rose 8.9% in August to GH¢3,141/MT, though they remain below last year; government also targets 100,000 tonnes of tomatoes under a self-sufficiency push. Finance for SMEs: GCB offers unsecured MSME loans up to GH¢1m through its caravan business clinics. Power & Land: GRIDCo intensifies clearing of encroachers from transmission corridors to protect grid safety and reliability. Crime & Trade Risk: Four Ghanaians, including “Kromo,” pleaded not guilty in court over an alleged €225m cocaine export attempt to France. Tech & Skills: DTI and Ghana TVET Service sign an MoU to strengthen industry-linked training and improve youth employability.

Cocoa Finance Strain: Licensed cocoa buyers say COCOBOD owes them about GH¢4bn from the just-ended season, warning the arrears are already making it hard to secure fresh credit ahead of 2026/27 as investors demand higher returns. Port Costs & Cement Prices: Tema Port clinker congestion has six vessels anchored for weeks, with demurrage estimated at US$3.67m–US$4.51m, raising fears cement prices could rise after the cost hits manufacturers. DVLA Service Push: The Driver and Vehicle Licensing Authority says it has opened 29 new offices in 18 months, bringing total offices to 62 nationwide, with plans for more sites to cut out middlemen and improve access. Roads & Water Hardship: Residents of Agbozume report a four-year water crisis after a borehole collapsed in 2023, while Dodome communities petition government over a 9-year abandoned road. Digital & Skills: Huawei has started digital skills training for 100,000 Ghanaians under the One Million Coders Programme, and MTN continues customer rewards and ecosystem support. Media Safety: MFWA launches a GHC544,000 Legal Support Fund to back journalists facing legal threats. Energy Trade: BOST reduces diesel and gasoline exports to Burkina Faso and Mali to prioritise Ghana’s domestic demand amid rising costs. Inflation Watch: Ghana’s producer price inflation rose to 4.4% in August, driven mainly by mining and quarrying.