AGP Executive Report

Digital Finance: The Bank of Ghana is preparing AI rules for banks amid cybersecurity concerns and says licensed platforms such as SaoPay must stay within their approved activities. The regulator also reports all 23 banks meet capital requirements. Poultry & Food Processing: Mahama says Bechem’s poultry and meat factory is about 50% complete, with commissioning targeted for early 2027. The government says poultry production has risen 22%, helping build local supply for the plant. Energy Reliability: ECG reports outages in parts of Tema and scheduled maintenance cuts in the Central Region. In Upper Dixcove, fishers warn power fluctuations are damaging cold-store businesses and threatening livelihoods. Agriculture: An AfDB grant of $18.8 million will support Ghana’s rice sector, with the government targeting self-sufficiency by 2028 and a lower import bill. Manufacturing: Nestlé Ghana has expanded evaporated-milk production at its Tema factory, adding capacity to the country’s industrial base.

Investment and Industry: GIPA has launched the Invest Ghana Summit, planned for November, to attract capital into manufacturing, agribusiness and processing, with a focus on adding value to local resources and creating jobs. Banking: The Bank of Ghana says all 23 banks now meet regulatory capital requirements, marking a recovery milestone after the Domestic Debt Exchange Programme. The regulator is also drafting rules for AI in finance and plans reviews of banks’ cybersecurity compliance. Poultry: President Mahama says Bechem could become Ghana’s chicken-production hub as its processing factory helps expand the domestic poultry value chain; local production has risen to 22%, according to the Agriculture Minister. Rice: Ghana has secured an $18.8 million AfDB grant for the REWARD project, which aims to boost production and support the goal of rice self-sufficiency by 2028.

Financial Services: The Bank of Ghana is drafting rules for AI in finance, aiming to support innovation while addressing cybersecurity, data and consumer-protection risks. Agriculture & Food: Mahama says 50 Farmers Services Centres could modernise farming; 15 are under construction, with operations expected by early 2027. Meanwhile, rising food prices have prompted calls for better storage, lower transport costs and stronger market oversight. Poultry Processing: The Bechem poultry, meat and feed factory is around half complete and expected to expand local processing; the Agriculture Minister says domestic poultry production has risen from 4.6% to 22% under the Nkoko Nketenkete initiative. Rice Production: Ghana has secured an $18.8 million AfDB grant to boost rice output and pursue self-sufficiency by 2028. Housing: Government plans to mobilise long-term cedi financing to expand affordable housing, as Ghana’s housing deficit remains a major challenge. Trade Partnerships: Ghana says it will seek BRICS Partner Country status to diversify economic ties, while maintaining existing partnerships.

Agriculture: Ghana has secured an AfDB grant of $18.8 million to boost rice production, develop 3,200 hectares and help the country reach self-sufficiency by 2028. A new 175-hectare water project in Ashanti is also set to support year-round farming. Poultry: Work on Bechem’s poultry processing plant is about 50% complete, with the government aiming to build a local market for farmers; the Agriculture Minister says the “Nkoko Nketenkete” programme has lifted domestic poultry production from 4.6% to 22%. Manufacturing: Nestlé Ghana has expanded its Tema factory’s evaporated milk production line, as President Mahama points to rising investment and renewed industrial activity in the Tema enclave. Energy: Asharami Ghana has commissioned a 6,000-tonne LPG storage facility in Tema, increasing the country’s storage capacity by 10%. Tullow has also begun supplying Jubilee and TEN crude to local refineries. Mining: Seven new regulations have closed a decade-long regulatory gap at the Ghana Geological Survey Authority, covering exploration, geological data and standards. Digital industries: MTN Ghana has launched One TV, a platform intended to widen audiences and revenue opportunities for Ghanaian content creators.

Manufacturing: Mahama commissioned Nestlé Ghana’s expanded evaporated-milk production line in Tema, citing it as an example of the 24-hour economy and saying the port city is regaining its industrial momentum. Agriculture: An AfDB grant of $18.8 million will support rice production, with the government aiming to cut the annual import bill by $500 million; FAO also urged wider use of science, technology and AI to raise farm productivity. Energy: Jubilee and ENI partners announced $3.5 billion in planned investment in Ghana’s oil sector, while Energy Minister John Jinapor set a 2027 target of 3,000 transformers. Housing: Government plans to mobilise long-term cedi financing to expand affordable housing. Trade and recycling: A new UK-Ghana Trade Resource Centre will help businesses find export opportunities, while plastic recyclers are calling for a dedicated industrial hub to grow the sector and create jobs.

Trade & Investment: Ghana’s exports to India have climbed from about US$3 billion to nearly US$7 billion, President Mahama says. The countries are also exploring partnerships in rail and local pharmaceutical production. Energy: Minister John Jinapor’s 2027 agenda includes installing 3,000 transformers and demanding measurable results from sector agencies. Tema Oil Refinery’s recovery offers a bright spot: it resumed refining in 2025 and reported a GH¢1.24 billion profit. Manufacturing: Nestlé Ghana has nearly doubled evaporated-milk capacity at its Tema factory, from about 12,960 to 30,000 tonnes a year. Mahama urged local firms to expand production and exports. Agriculture: An AfDB grant of US$18.8 million is expected to support more than 20,000 rice farmers, as Ghana targets self-sufficiency by 2028. Mining: Government plans to replace the draft mining bill with a revised version that sets a maximum 20-year lease term, following industry concerns.

Manufacturing: Nestlé Ghana has commissioned an upgraded Tema production line, lifting annual evaporated-milk capacity from about 12,960 tonnes to nearly 30,000. President Mahama says the expansion reflects renewed industrial activity in Tema, alongside efforts to revive the Tema Oil Refinery and VALCO. Agriculture: An AfDB grant of $18.8 million will support Ghana’s rice value chain, including 3,200 hectares of production land, processing centres and equipment, with a target of rice self-sufficiency by 2028. Mining: GIPA chief Simon Madjie says local firms such as Engineers and Planners can become mining operators and help build Ghanaian-owned industry. Separately, the Minerals Commission has suspended offshore gold reconnaissance pending stakeholder talks over environmental concerns. Energy and transport: Sahara has commissioned a 6,000-tonne LPG facility in Tema, while the Energy Commission’s proposed rules for EV charging and battery swapping await parliamentary approval. Cocoa: COCOBOD has raised $288 million to finance purchases from farmers, as delayed payments and a cash crunch pressure the sector.

Agriculture: Ghana’s $18.8 million AfDB-backed REWARD project will develop 3,200 hectares for rice and support more than 20,000 farmers, as the government targets self-sufficiency by 2028 and aims to cut a $500 million import bill. Industrial Development: NDPC and UNIDO are exploring a five-year partnership from 2027 focused on agro-industry, industrial parks, MSMEs, skills and investment. Energy: Sahara has commissioned a 6,000-tonne LPG facility, while Tullow has begun supplying Jubilee and TEN crude to local refineries, advancing domestic processing. Trade and Investment: Ghana and India have signed an agricultural research and technology-transfer agreement as bilateral trade deepens. Business Climate: September inflation edged up to 5.2% from 5.0%, while the World Bank said the cedi fell as much as 10% in the second quarter—the steepest decline among currencies it tracked. Housing: Government plans to put GH¢1 billion into a revolving housing fund in the 2027 Budget, with financing options intended to widen access beyond conventional mortgages.

Housing and Construction: President Mahama pledged GH¢1bn to a revolving National Housing Fund and proposed loans to help owners complete unfinished homes; he also ordered sanctions for officials who fail to enforce building safety rules. Trade and Investment: Ghana is preparing a formal BRICS application, with India’s backing. Mahama says Ghana’s exports to India have nearly doubled to US$7bn, while a new India-Ghana agreement will support agricultural research and technology transfer. Energy: Tullow has begun supplying Jubilee and TEN crude to local refineries, while Asharami Ghana commissioned a 6,000-tonne LPG storage facility. Agriculture: Government has started a 175-hectare irrigation project to boost rice production. Business Conditions: September inflation rose to 5.2% from 5.0% in August, while the Bank of Ghana warned consumers to guard against digital fraud and Ponzi schemes.

Fuel & Refining Policy: CEMSE’s Benjamin Nsiah says Ghana needs a strategic downstream refinery policy to cut the fuel import burden, citing fuel and mineral products at ~30% of Q2 2026 imports and calling for more refining at TOR and Sentuo plus a medium-term industrial plan. Cement Industry Growth: Dzata Cement marks five years and eyes its next phase, with CEO Ibrahim Mahama pushing the message that Ghanaians can build and run local manufacturing. Ghana–India Trade & Industry Links: Ghana–India trade jumped from about $3bn (2024) to $6.5bn (2025); a B2B meet in Accra drew 200+ Ghanaian firms across pharma, engineering, textiles, construction and digital. AfCFTA Rules of Origin: GRA warns businesses can’t just repackage or brand imports as “Ghanaian-origin” goods; preferential treatment requires meeting origin rules and getting the right Certificate of Origin. Oil Supply to Local Refineries: Tullow has started supplying Jubilee and TEN crude to Sentuo Oil Refinery, with plans for more local crude liftings in 2026. Energy Storage & LPG Access: Asharami Ghana commissioned a 6,000MT LPG storage facility at Tema, boosting national capacity by ~10% and supporting cleaner cooking goals. Biotech Investment: Zanetor Agyeman-Rawlings urges harmonised biosafety/biotech regulations to reduce investor uncertainty and grow Ghana’s biotech sector. Macroeconomy Watch: The World Bank kept Ghana’s 2026 growth forecast at 4.8%, pointing to easing inflation and strong digital services, while noting the cedi was the worst-performing African currency in Q2 amid geopolitical shocks. Port & Logistics Insight: A Rotterdam study highlights “smart” berth bollards to improve safety and maintenance planning—useful lessons for West African port efficiency.

BRICS Push: Ghana’s Cabinet has approved a formal application to join BRICS, with Foreign Affairs Minister Samuel Ablakwa saying the move aims to diversify partnerships and support the “New Economy,” alongside Ghana–India MoUs on agriculture and science/tech. Central Banking & FX: Bank of Ghana maintains the policy rate at 14% as it prepares new credit risk and liquidity directives, while also warning the public against 20 unlicensed mobile loan apps; separate reporting shows GoldBod exceeded its September FX target, boosting reserve accumulation. Offshore Gold Backlash: Fisheries and civil society groups are urging government to halt or scrutinise reported offshore gold exploration licences covering about 10,000 sq km, citing risks to marine habitats and livelihoods; NAFAG also calls for clearer licence coordinates and safeguards. Oil & Gas Upgrade: Eni has tapped Yinson for a Sankofa FPSO gas-capacity upgrade, extending the lease to 2036 and targeting higher export capacity. Food & Agri-Tech: KNUST leads work on a national food composition database, while CSIR-CRI and partners train farmers on greenhouse tomato to cut imports; farmers also protest farm destruction linked to land clearing. Utilities & Safety: PURC assures Northern consumers on service quality and tariffs; NRSA steps up road safety calls ahead of festive travel. Energy & Waste: Zoomlion pledges health and water support after concerns over the Adipa landfill; Asharami Ghana commissions expanded LPG storage capacity. Creative Industries: European Film Festival returns to Ghana after five years, focusing on peace and inclusion, and Nollywood’s “Old Nollywood 2.0” format gets spotlight.

Media & Extractives: Daily Graphic’s Gilbert Azeem Tiroog won two GJA awards in Bolgatanga—Best Peace and Conflict-Sensitive Reporter and Best Mining and Natural Resources Reporter—highlighting the human cost of the Bawku conflict and farmers’ woes amid illegal mining. Digital Skills & Inclusion: GIFEC will train 500 girls in coding in 2027 after a successful AGCCI pilot that trained 150 girls; separately, 150 women graduated from AGCCI with digital and coding skills to scale businesses. Power & Reliability: PURC facilitated replacement of 10 damaged transformers in Ghana’s Central Region, targeting improved supply for about 61,004 customers after weeks-long outages. Waste & Jobs: Local Government Minister Mahama Ayariga ordered MMDCEs to secure land for waste transfer stations within 30 days, while Dr Annang argued waste management can power 24-hour economy jobs across the whole chain. Housing & Social Protection: Gender Minister Dr Agnes Lartey said Ghana’s School Feeding Programme now covers 4.5m children daily, with funding rising to GH¢1.982bn in 2026. Finance Costs: Ghana Reference Rate fell to 10.04% in October, offering some relief as lending costs ease. Agribusiness: GHiH urged a dedicated fund for climate-resilient tomato varieties and interim subsidies for improved planting materials to cut imports. Energy/Industry: Tullow Oil posted a US$101m half-year loss but reported production gains, while cocoa prices stayed volatile amid climate and demand pressures. Sports Logistics: Black Starlets endured a 20+ hour road trip to Burkina Faso for WAFU U17, spotlighting travel and welfare concerns for young talents.

Housing & Finance: Government says only about 5% of Ghanaians can afford decent housing without support, citing high land and construction costs and limited mortgage access; it points to the National Mortgage Scheme with ~8.4% interest and up to 20-year terms. Public Works & Waste: Local Government Minister Mahama Ayariga says a new waste collection model could cut household bills from about GH¢300/fortnight to as low as GH¢50, using closer transfer stations, night tricycle collection and electronic payments; he also announced corporate Ghana will help clean, green, light and maintain major city streets. Maritime & Energy: Ghana Maritime Authority stresses technology, funding, technical capacity and inter-agency coordination to improve port and maritime performance; meanwhile Yinson Production’s FPSO JAK gas upgrade extends its lease to 2036. AI & Skills: AIT’s Prof. Clement Dzidonu urges a “Sovereign Triple-L” mindset for lifelong learning as AI reshapes work; KNUST students win a Pan-African AI Hack-AI-Thon using cocoa pod husks for extra farmer income. Gold Value Addition: GoldBod partners B-Light Jewellery to deepen gold value addition and retail access. Currency Enforcement: BoG and Police arrest seven over alleged misuse of cedi notes as money bouquets and cakes. Housing/Infrastructure Health: Keta MP reports construction of two CHPS compounds and classroom facilities. Standards & Imports: GSA suspends pre-shipment inspection for imported used vehicles, with a new date to be announced. Water Access: KSrelief and MAA plan 20 solar-powered boreholes across five regions.

Energy & Gas Infrastructure: Yinson Production (West Africa) will upgrade the FPSO John Agyekum Kufuor offshore Ghana, expanding gas handling and extending the lease to 2036, with an expected incremental day rate adding about US$600m to backlog. Agro-Processing Relief: Ghana abolished the 20% excise duty on locally produced fruit juices from Oct 1, easing costs for manufacturers and boosting demand for locally grown inputs. Housing & Built Environment: The Ghana Institute of Architects urged a coordinated national housing push, calling for updates to the National Housing Policy and clearer targets, funding and accountability. Digital Economy & Connectivity: Accra is set to host the 10th Triennial World Congress of the Assemblies of God Fellowship, expected to draw 10,000 delegates and lift hospitality and trade; meanwhile, Kenya’s mobile internet uptake is held back by phone and data costs. Telecom & Mobile Growth: MTN Ghana secured R3.4bn in spectrum for 5G/mobile broadband, while Telecel services were disrupted by double fibre cuts affecting over 72,000 subscribers. SMEs & Payments: Ghana’s mobile-money rails are strong, but only 37% of businesses accept digital payments—closing the merchant gap is now the growth focus. Energy Efficiency Enforcement: The Energy Commission trained Customs officers to better enforce appliance energy-efficiency standards at entry points. Industry Land Protection: CSIR says encroachers have stripped it of thousands of acres, urging urgent government action to reclaim and protect research land. Business & Jobs (Regional): Liberia’s NOCAL signed a deal with Nigeria’s LADOL to build a Buchanan shorebase to keep more oil services and jobs local.

Industrial Policy & Competitiveness: Ghana’s industrial push is being held back by high electricity costs and unreliable power, plus expensive credit that makes local manufacturing and agro-processing harder than importing finished goods. Macroeconomy to Households: Inflation has eased and growth has improved, but the “kitchen table” question remains—food, power, transport, jobs and borrowing costs are still the real test of recovery. Telecom Resilience: Double fibre cuts disrupted Telecel services for about 72,754 subscribers across parts of the Central Region, with restoration underway and renewed calls for truly independent network routes. Energy Transition & Debt: Ghana’s net-zero plan needs massive financing, but the debate is shifting to whether climate finance terms can expand jobs and industry without deepening debt. Energy Efficiency Enforcement: The Energy Commission trained GRA Customs officers to enforce energy-efficiency standards on imported appliances. Fisheries & Offshore Gold: Fishing communities and CSOs want a halt and review of reported offshore gold reconnaissance licences over concerns for artisanal fisheries and coastal livelihoods. Health Investment & Manufacturing: Mahama unveiled H-Enabler to streamline regulation and clinical validation for health innovators and investors across Africa. Education Disruption: Teacher unions renewed calls for presidential intervention as the strike enters its second week. Nollywood Pay Debate: Kanayo O. Kanayo urged Ghanaian actors to negotiate their own fees instead of demanding equal pay with Nigerian stars. Trade & Industry Signals: Ghana’s non-traditional exports to Africa hit about US$1.5bn in 2025, led by ECOWAS and AES markets.

NPP Leadership Shake-up: Titus Glover wins National Organiser race while John Boadu is elected National Chairman at the NPP delegates conference in Kumasi, with Justin Frimpong Kodua re-elected General Secretary and Alfred Kwadwo Thompson taking National Treasurer. Education Disruption: Government and pre-tertiary teacher unions meet again over the nationwide strike, but talks end inconclusively; unions say arrears, promoted teachers’ pay scales and the 20% deprived-area allowance remain unresolved, with empty classrooms reported across multiple cities. Oil & Tax Accountability: Ghana wins a $393m tax dispute at ICC arbitration against Tullow Oil over insurance proceeds tied to its offshore fields, with government saying enforcement was lawful and penalties properly applied. Consumer Protection: FDA and CPA clamp down on “bale diapers,” destroying 28 bales over hygiene and storage concerns, and warning importers of sanctions. Creative & Fintech Link: Sarkodie meets MobileMoney Fintech LTD to explore deeper partnerships beyond sponsorship, targeting financial inclusion through Ghana’s entertainment reach. Telecom Disruption: Double fibre cuts disrupt Telecel services across parts of the Central Region, affecting about 72,754 subscribers. Health Investment Push: President Mahama urges Africa to treat healthcare as an investable, high-growth sector to build health sovereignty and jobs.