Today's Ghana Business, Banking and Economic news

Government has approved the immediate construction of a second gas processing plant as part of efforts to enhance energy security and mitigate supply shortfalls, Energy and Green Transition Minister John Jinapor announced on Friday.

Speaking at a post-Cabinet briefing at Jubilee House, Mr. Jinapor said the decision aligns with a broader strategy to stabilise the country’s energy sector over the short, medium, and long term.

“Cabinet has approved a raft of measures aimed at addressing the current situation comprehensively. In collaboration with the Finance Ministry, we will take immediate steps to construct a second gas processing plant to strengthen supply security and bridge shortfalls,” he said.

The minister sought to downplay growing public concern over intermittent power disruptions, dismissing calls for a formal load-shedding timetable.

“Let me be clear: we are not shedding load. The demand for a published load-shedding timetable is unfounded. If there is no load shedding, there is no need for a timetable,” he stated.

Mr. Jinapor further argued that Ghana continues to export approximately 300 megawatts of electricity to neighbouring countries, including Burkina Faso and Benin, contradicting claims of a severe power crisis.

The move to expand gas processing capacity reflects Ghana’s broader ambition to strengthen its domestic energy infrastructure and ensure long-term supply resilience amid fluctuating global energy markets.

Finance Minister Dr. Cassiel Ato Forson has engaged market women, head porters (kayayei), and other traders at Makola Market to discuss their concerns and expectations ahead of the 2025 Budget presentation scheduled for Tuesday, March 11, 2025.

President John Dramani Mahama has appointed Madam Judith Adjobah Blay as the new Acting CEO of the Ghana National Gas Company Limited.

Cabinet on Friday approved the Government’s 2025 Economic Policy Statement and Budget.

Ghana is currently exporting 300 megawatts of electricity to her neighbouring countries, Mr John Abu Jinapor, the Minister for Energy and Green Transition, announced this on the floor of Parliament on Friday.

A report by the African Centre for Economic Transformation (ACET) has placed Ghana among the bottom 30 African nations in export competitiveness, highlighting a critical need for urgent policy reforms.

Minister for Energy and Green Transition, John Abdulai Jinapor, has outlined the government’s key five-point agenda for achieving a Renewable Energy Transition.

The Governor of the Bank of Ghana (BoG), Dr. Johnson Asiama, has disclosed that the furnishing of the central bank’s newly constructed headquarters will cost $11.1 million.

The Governor of the Bank of Ghana (BoG), Dr. Johnson Asiama, has revealed that furniture and furnishings for the central bank’s new headquarters – The Bank Square – cost $11.1 million.

Ghana's inflation rate decelerated for the second consecutive month in February, reaching 23.1%, a slight decrease from January's 23.5%.

The Minister of Finance, Dr Cassiel Ato Forson, has raised concerns over the dire financial and operational challenges confronting Ghana’s state-owned enterprises (SOEs) and joint venture companies, warning that urgent reforms are needed to prevent further economic decline.

Mobile Telecommunications Network (MTN) Ghana has issued an apology to its subscribers for the difficulties they encountered in accessing its various platforms including Mobile Money and data services.

Minister for Finance, Dr. Cassiel Ato Forson, has disclosed that the recent decline in Treasury Bill (T-Bill) interest rates has resulted in savings of over GHS 1 billion for the government.

The Minister for Finance, Dr. Cassiel Ato Forson, has warned that Ghana’s economic crisis is far from over, urging stakeholders to remain focused on sustainable recovery efforts.

Chairman of the National Economic Dialogue, Dr. Ishmael Yamson, has cautioned that the task of resetting Ghana’s economy, as pledged by President John Mahama, will be a difficult undertaking.