Today's Ghana Business, Banking and Economic news

The Managing Director of the Tema Oil Refinery (TOR), Edmond Kombat, has announced that his outfit has resumed operation after years of inactivity.

The government of Ghana and the African Export-Import Bank (Afreximbank) have reached a mutual agreement to resolve issues linked to a US$750 million financing facility signed in 2022, paving the way for continued cooperation on Ghana’s development priorities.

The Minister for Finance, on May 2, 2025, issued a directive requiring all Covered Entities to submit their Quarterly Commitment Control Reports (CCR) to the Internal Audit Agency (IAA).

President John Dramani Mahama, has directed the Ministry of Finance to release GH¢1 billion to pay contractors who have been owed by the state since 2017, with the payment expected to be made before Christmas.

The President announced the directive on Sunday, December 21, 2025, during a sod-cutting ceremony for the Sunyani–Atronie–Acherensua Road Project in the Bono Region, under the government’s Big Push programme.

According to President Mahama, the payment will cover outstanding certified works carried out by contractors over the years. He said ongoing audits will guide the process to ensure that only verified claims are paid.

“I have directed the Finance Minister, Dr. Ato Forson, to release GH¢1 billion to settle debts owed to contractors since 2017 before Christmas,” the President said. “All the contractors will be paid, and the families of deceased contractors should also come forward to receive the money.”

He urged contractors to submit their documents quickly to avoid delays in payment. “I want to encourage contractors to hurry up with their certificates to receive your money. Your money will only be delayed if you are lazy,” he added.

President Mahama also stated that funds have been set aside under the Big Push programme to revive and complete stalled infrastructure projects across the country.

The Dormaahene, Osagyefo Oseadeeyo Dr. Agyemang Badu II, speaking at the event, cautioned contractors against shoddy work, calling on the government to enforce strict supervision to ensure quality work output.

President Mahama characterized the Sunyani–Atronie–Acherensua Road Project as a key development for the Bono Region and reaffirmed his government’s commitment to clearing long-standing contractor arrears and restarting abandoned projects nationwide.

The Minister for Trade, Agribusiness, and Industry, Elizabeth Ofosu-Adjare, has paid a working visit to the Ekumfi Juice Factory as part of the government’s efforts to strengthen agro-processing and accelerate industrial growth under the 24-Hour Economy policy.

Parliament has approved the government’s plan to spend GH₵357 billion in the 2026 fiscal year following the passage of the Appropriation Number Two Bill, 2025.

Vice President Professor Jane Naana Opoku-Agyemang has reaffirmed the government’s commitment to strengthening Ghana’s trade, agribusiness and industrial base, assuring the Ministry of Trade, Agribusiness and Industry of full support to deliver on its national development mandate.

Warner Bros Discovery has told its shareholders to reject Paramount Skydance's $108.4bn (£80.75bn) takeover bid.

The International Monetary Fund (IMF) Executive Board has approved the Fifth Review of Ghana’s performance under its three-year Extended Credit Facility (ECF) programme, marking another important milestone in the country’s economic recovery efforts.

The United Kingdom and the Republic of Ghana have jointly hosted the 17th Replenishment of the African Development Fund (ADF-17) Pledging Conference in London, calling on global development partners to mobilize resources for Africa’s most vulnerable economies.

Warner Bros Discovery will urge its shareholders to reject Paramount Skydance's $108.4bn (£80.75bn) takeover bid as soon as Wednesday, according to reports.

Government has approved GH¢12 per kilogram as the Minimum Producer Price for Raw Cashew Nuts for the 2025/26 crop season, a move aimed at protecting farmers’ incomes and sustaining growth in Ghana’s cashew industry.

Vice President Francia Elena Márquez Mina of Colombia, has said that Ghana holds a special place in her country’s vision to reconnect with the world through strategic trade partnerships. 

The Tema Oil Refinery (TOR) has a US$517 million debt to clear, Edmond Kombat, the Managing Director of the Tema Oil Refinery (TOR), has disclosed. 

Trade volumes between Ghana and India reached approximately three billion dollars in 2024, with the figure expected to double in the next five years, Mr Shiri Manish Gupta, High Commissioner of India, said on Thursday.