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Databank Group does not hold Bond Market Specialist status—Ministry of Finance

By
Ivy Hollys
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databank group

The Ministry of Finance has dismissed claims that Databank Group has been re-affirmed as a bond market specialist for the Government of Ghana.

In a joint disclaimer with the Bank of Ghana, the ministry described the reports as false and misleading, urging the public to disregard them.

The Ministry clarified that Databank does not hold Bond Market Specialist status and is not part of the officially recognized institutions operating within Ghana’s bond market framework.

According to the statement, the only valid reference remains the official list of primary dealers and bond market specialists published on February 10, 2026, under Notice Number BOG/FMD/2026/08.

The ministry emphasized that investors and market participants must rely strictly on official communication from the Ministry of Finance and the Bank of Ghana to avoid misinformation.

Only six institutions—ABSA Ghana Limited, Stanbic Bank, CalBank PLC, GCB Bank, One Africa Securities Limited, and Fincap Securities—are currently authorized as Bond Market Specialists.

Rainstorm Triggers Widespread Power Outages in Ashanti Region

By
Adwoa Afranewaa
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Power outages in Ashanti region

The Electricity Company of Ghana (ECG) has announced that a heavy rainstorm that swept across parts of the Ashanti Region on the morning of Wednesday, April 8, 2026, has caused significant disruptions to electricity supply across its network, causing power outages in the region.

In an official statement released the same day, the power distributor indicated that the storm led to multiple faults within its infrastructure, resulting in widespread outages affecting homes and businesses. ECG noted that its engineering teams have been deployed to various affected locations and are working intensively to identify the extent of the damage and carry out necessary repairs.

The company assured customers that restoring power remains a top priority and that all efforts are being made to ensure electricity supply is reinstated in the shortest possible time.

ECG also appealed to customers who may be experiencing power outages, specifically within their homes or premises, to report such incidents promptly. Customers can lodge complaints or seek assistance by calling the ECG contact centre on 0302-611-611, visiting the nearest ECG office, or engaging the company through its official social media handle, @ECGghOfficial.

While acknowledging the inconvenience caused, ECG expressed regret over the situation and extended appreciation to customers for their patience and cooperation as restoration works continue.

By: Janice Opoku-Agyemang

ECG Announces 9-Hour Power Outage in Ashanti Region

By
Adwoa Afranewaa
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The Electricity Company of Ghana (ECG) has announced a scheduled maintenance exercise in parts of the Ashanti Region that will result in a temporary power outage on Thursday, April 9, 2026.

According to a public advisory issued by the power distributor, the planned maintenance forms part of ongoing efforts to enhance service delivery, improve system reliability, and address technical challenges within the network.

The interruption in electricity supply is expected to last for nine hours, running from 9:00 a.m. to 6:00 p.m.

Several communities across the region will be affected by the outage. These include Akrowa, Kodie, Apagya, Akrofrom, Patasi, Aduman, Aduamoah, Denase, Akom, Nkwantakese, Pampatia, Boamang, Amoako, Tetrem, the Dwamena Akenten Senior High School, Offinso, Namong, Kokote, Kayera, parts of Barekese, Abira, and several surrounding areas.

ECG expressed regret over the inconvenience the planned outage is likely to cause to residents, businesses, and institutions within the affected zones. The company emphasised that such maintenance works are necessary to ensure long-term stability and efficiency in power distribution.

Residents and businesses in the affected communities have been advised to make adequate preparations, including arranging alternative sources of power where necessary, to minimise disruptions to their daily activities during the outage period.

The planned exercise is part of ECG’s broader operational strategy aimed at strengthening Ghana’s electricity distribution infrastructure and improving overall customer experience.

By: Janice Opoku-Agyemang

Government Reviews Fuel Taxes Amid Global Price Pressures

By
Adwoa Afranewaa
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NEW YORK, NEW YORK - SEPTEMBER 24: John Abdulai Jinapor, Minister of Energy, Ghana speaks onstage at Mission 300 during the Bloomberg Philanthropies Global Forum 2025 at The Plaza Hotel on September 24, 2025 in New York City. (Photo by Bryan Bedder/Getty Images for Bloomberg Philanthropies)

Ghana’s Minister for Energy and Green Transition, John Jinapor, has revealed that the government is actively engaging the Finance Ministry on a possible review of taxes on petroleum products, including the controversial one-cedi levy.

The discussions come at a time of rising global crude oil prices, largely driven by escalating geopolitical tensions in the Middle East, which have begun to impact fuel costs at the pumps in Ghana.

Speaking at the launch of the Chamber of Oil Marketing Companies (COMAC) Safety Week celebration in Accra, Mr. Jinapor indicated that consultations are ongoing with Dr Cassiel Ato Forson to determine the most appropriate course of action. He assured the public that a decision will be announced once discussions are concluded.

According to the Minister, the government’s immediate focus is to ensure a stable supply of petroleum products across the country before addressing pricing concerns.

“We have three key priorities as a government in this current situation, and the most important is ensuring the availability of petroleum products on the market. Once supply is secured, then we can address pricing issues,” he stated.

Mr. Jinapor acknowledged growing public calls for the removal or reduction of certain taxes on fuel, particularly in light of recent price hikes. However, he cautioned that any decision must balance consumer relief with the need to maintain government revenue streams.

While describing the proposal to remove some taxes as “a good idea,” he stressed that such measures could have broader fiscal implications. “Some sectors of the economy will have to make sacrifices so that we can still generate revenue and improve our fiscal position,” he noted.

The review discussions are taking place against the backdrop of heightened concerns about fuel affordability and availability, following intensified tensions in the Middle East in March 2026. Although the government has repeatedly assured the public of adequate fuel supply, many consumers continue to push for tax adjustments to cushion the impact of rising prices.

Industry players have also signalled their willingness to support policy changes. The Chief Executive of the Chamber of Oil Marketing Companies, Dr Riverson Oppong, told journalists that oil marketing companies are ready to collaborate with the government in reviewing the current tax regime on petroleum products.

As consultations continue, stakeholders across the energy sector are closely watching for policy decisions that could influence fuel pricing, government revenue, and overall economic stability in the months ahead.

By: Janice Opoku-Agyemang

Ghana Records 7.5% Economic Growth in January 2026

By
Adwoa Afranewaa
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Ghana’s economy began 2026 on a strong note, recording a 7.5% year-on-year expansion in January, according to the latest data from the Ghana Statistical Service. While robust, the growth rate reflects a slight slowdown compared to the 8.2% recorded in January 2025.

The figures are captured in the Monthly Indicator of Economic Growth (MIEG), which provides high-frequency insights into the country’s economic performance. The data highlights the continued dominance of the services sector as the primary engine of growth.

According to the report, the services sector expanded by 9.6% in January 2026, contributing a significant 54.3% to overall economic growth. This underscores the sector’s increasing importance in shaping Ghana’s economic trajectory, driven by activities such as trade, finance, telecommunications, and hospitality.

The industrial sector followed with a growth rate of 7.2%, accounting for 29.0% of total output expansion. Although solid, the performance points to opportunities for further strengthening, particularly through value addition, manufacturing expansion, and increased productivity in extractive industries.

Agriculture, however, lagged behind the other sectors, recording a growth rate of 4.5% and contributing 14.0% to overall economic expansion. The relatively slower pace has raised concerns among policymakers and analysts, given the sector’s critical role in employment, rural livelihoods, and national food security.

Commenting on the data, Government Statistician Dr Alhassan Iddrisu noted that the strong performance of the services sector reinforces Ghana’s gradual shift toward a service-led growth model.

He explained that while this trend reflects structural transformation within the economy, it also highlights the need for a more balanced growth strategy to ensure long-term sustainability.

The MIEG data reveal an uneven growth pattern, with services expanding rapidly while agriculture and parts of the industrial sector show comparatively moderate gains. This imbalance suggests underlying structural challenges, including low agricultural productivity and limited industrial diversification.

Economic analysts say sustaining Ghana’s growth momentum will depend on targeted policy interventions. These include boosting agricultural productivity through mechanisation and investment, strengthening industrial capacity to drive value addition, and leveraging the dynamism of the services sector to support broader economic resilience.

By: Janice Opoku-Agyemang

Ghana’s crude oil production drops to 37.3m barrels

By
Adwoa Afranewaa
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Ghana’s crude oil production has continued its downward trajectory, recording a sixth consecutive year of decline, according to the 2025 Annual Report released by the Public Interest and Accountability Committee (PIAC).

The report reveals that national crude output has fallen significantly from a peak of 71.4 million barrels to 37.3 million barrels in 2025. This represents a compounded annual average decline of 9%, raising concerns about the long-term sustainability of the country’s petroleum sector.

Presenting highlights of the report on Wednesday, April 8, PIAC Chairman Richard Ellimah described the persistent drop in production as a worrying trend that demands urgent attention from policymakers and industry stakeholders.

He stressed that the continued decline should be a matter of national concern, noting that oil production remains a critical contributor to Ghana’s revenue generation and economic stability.

To address the situation, Mr. Ellimah called on the government to deepen collaboration with the Petroleum Commission to create a more attractive investment environment within the upstream petroleum sector.

A key recommendation outlined in the report is the development of a targeted framework to stimulate investment in existing oil fields. Particular emphasis was placed on the Tweneboa Enyenra Ntomme (TEN) Field, where production levels have fallen short of expectations in recent years.

According to PIAC, boosting capital inflows into underperforming assets like the TEN field could help stabilise output levels and potentially reverse the broader production decline.

Mr. Ellimah further urged the government to pursue additional strategies aimed at attracting fresh investments into the sector, including policy reforms and incentives that would enhance investor confidence.

The report underscores the urgent need for a coordinated national response to revitalise Ghana’s oil industry, as declining production volumes could have far-reaching implications for public finances and energy security if left unaddressed.

By: Janice Opoku-Agyemang

What the US military could do if Iran fails to meet Trump’s ultimatum

By
Adwoa Afranewaa
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The clock is ticking on President Donald Trump’s threat to wipe out much of Iran’s civilian infrastructure in a few hours if the country doesn’t strike a deal to end the war by Tuesday evening.

But Trump has backed himself into a corner with threats that the US military can’t feasibly carry out in a one fell swoop, military experts and analysts told the BBC. And they warn that a new round of attacks, no matter how large, is unlikely to force the Iranian regime to quickly agree to a ceasefire.

Trump vowed on Monday to destroy “every bridge” and power station in Iran in just four hours if a deal isn’t reached by EST 20:00 (02:00 GMT). He escalated even further on Tuesday morning, warning that “a whole civilization will die” if Iran doesn’t agree to a deal by his deadline.

Taken together, the warnings amounted to an unprecedented threat from a US president. Critics said targeting civilian infrastructure would constitute a war crime, a concern Trump dismissed at a press conference on Monday.

Setting that issue aside, former US defence officials and other analysts said the US simply can’t destroy every bridge in a country the size of Iran in just a few hours, as Trump threatened to do.

Iran is approximately one-third the size of the continental United States. The US knows the exact location of Iran’s main nuclear facilities and other key infrastructure, but likely cannot identify thousands of other targets across the country and destroy them in such a short time span, experts said.

“To meet this threat literally would be an absolute herculean task. And would it have the desired strategic effect?” said a former senior US defence official who asked not to be named. “Trump is almost struggling to come up with a new level or threat that he can say with words that will move the strategic needle more in favour of the US here.”

A large-scale attack on Iran’s power sector is more feasible than taking out every single bridge in the country, experts said.

A majority of Iran’s power plants and refineries are located in three coastal provinces – Bushehr, Khuzestan and Hormozgan – on the Persian Gulf. Striking power plants in the region could deal the Iranian regime a significant blow, said Miad Maleki, a former senior US treasury official who led sanctions against Iran.

“You do anything to those three provinces, you cut the regime’s access to oil revenue [and] its access to the Persian Gulf and Strait of Hormuz,” said Maleki, a senior fellow at the Foundation for Defense of Democracy.

Vice-President JD Vance said that the US carried out airstrikes on military targets on Kharg Island, a key island in the Persian Gulf that handles roughly 90 percent of Iran’s oil exports.

Speaking to reporters during a trip Budapest on Tuesday, Vance said those strikes did not represent a change in Trump’s strategy. He said negotiations with Iran would continue until Trump’s deadline but warned that the US could inflict “much greater pain” on the country’s economy.

“So they’ve got to know, we’ve got tools in our toolkit that we so far haven’t decided to use. The president of the United States can decide to use them, and he will decide to use them, if the Iranians don’t change their course of conduct.”

The White House dismissed reports that Vance’s comments contained any suggestion of a US nuclear strike against the Islamic republic.

Some civilian infrastructure has already been targeted. Iran’s state media said on Tuesday that US-Israeli airstrikes targeted a bridge in the city of Qom. Last week Trump said the US bombed Iran’s largest bridge.

It’s unclear if the new wave of attacks Trump has threatened would be enough to force Tehran to come to the negotiating table. US and Iranian officials reportedly spoke directly on Tuesday after weeks of indirect talks failed to move the sides closer to a deal. Still, the countries remain far apart on major issues including the future of Iran’s oil sector, nuclear programme and control of the Strait of Hormuz.

Trump said on Monday that his special envoy Steve Witkoff, son-in-law Jared Kushner and Vance were leading the talks. But a US official who spoke on the condition of anonymity said Witkoff and Kushner are leading the day-to-day efforts and Vance would only be brought in if a deal is imminent.

“The Vice-President may be tagged in more directly if there’s sufficient progress made by Witkoff and Jared,” the US official said.

Trump may be betting the regime will feel pressure from Iran’s population to strike a deal if the country is plunged into darkness by a widespread attack on the power grid.

But Iranians were already living with power outages before the war started in late February. The regime likely wouldn’t view more blackouts as an incentive to negotiate with the US, Maleki said.

“This is not a wartime issue,” he said. “The Iranian people are already dealing with a completely dysfunctional energy and power sector.”

Furthermore, attacking Iran’s power sector could complicate Trump’s push to fully reopen the Strait of Hormuz. Iran has brought most oil tanker traffic in the waterway  to a standstill, roiling the global oil market and causing prices to soar.

Trump hasn’t made a strong case that the US is going to get what it wants by escalating the war, said Jason Campbell, a former Department of Defense official under former President Joe Biden and Trump.

Nearly six weeks into the war, the Iranian regime has shown it has a high pain threshold and won’t easily cave to US demands, said Campbell, a senior fellow at the Middle East Institute.

For Iran’s leadership, Campbell said, the war “is an existential fight not just for the country but for the regime.”

Source: BBC

GACL Defends New Airport Passenger Charges, Cites Need for Aviation Expansion

By
Adwoa Afranewaa
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James Agalga

The Board Chairman of the Ghana Airports Company Limited (GACL), James Agalga, has defended the recent increase in airport passenger service charges, describing the old pricing structure as outdated and financially unsustainable.

He said the previous system limited the company’s ability to expand infrastructure and compete with other major aviation hubs on the continent.

Speaking in an interview on Tuesday, April 7, 2026, Mr Agalga explained that GACL had been operating under a revenue model that had not been significantly revised in about 14 years.

According to him, this situation made it difficult for the company to function effectively as a profit-driven state enterprise.

“Prior to the recent revision, we were effectively working with revenue margins that were set nearly 14 years ago,” he said. “That is not sustainable for an entity that is expected to operate as a profit-making company.”

New Charges for Air Travelers

Under the new structure, domestic passengers now pay an additional GH₵100 per one-way ticket.

Regional travellers are expected to pay up to $30 more, while international passengers face surcharges of $50 for one-way trips and $100 for return journeys.

Mr. Agalga said the earlier charge, introduced under a 2010 amendment, set domestic fees at GH₵5. However, he argued that GACL never received the full amount due to deductions made for other state agencies.

Revenue Sharing Reductions Explained

He explained that portions of the airport service charge were allocated to several institutions, significantly reducing what GACL retained.

“Instead of getting 5 cedis, we get 4 cedis 15 pesewas,” Mr. Agalga noted. “Cumulatively, 17% of the airport service charge was taken away for the benefit of other state agencies.”

He further broke down the deductions as follows:

  • 7.5% to the Ghana Civil Aviation Authority (GCAA)
  • 5% to the Ghana Meteorological Agency (GMet)
  • 1.5% to the Accident Investigation and Prevention Bureau
  • 3% to the Ghana Revenue Authority (GRA) for collections

Push to Upgrade Aviation Infrastructure

The GACL Board Chairman stressed that the new charges are necessary to support Ghana’s ambition of becoming a leading aviation hub in Africa.

He said the country must invest heavily in airport infrastructure to compete with airlines and aviation systems in countries such as Ethiopia, Kenya, and South Africa.

“Ghana positions itself as the aviation hub of Africa,” he said. “To do that, we must roll out our airport infrastructure in a manner that truly positions us to compete.”

He also noted that GACL was established as a limited liability company and is expected to operate on commercial principles.

“Government in its wisdom established GACL as a limited liability company,” he explained. “It is supposed to be a profit-making venture.”

Charges Still Among Lowest in Region

Mr. Agalga added that the GH₵5 charge introduced in 2010 had remained unchanged despite inflation and currency depreciation over the years.

He argued that even at the time of introduction, Ghana’s airport charges were among the lowest in the sub-region compared to neighbouring countries.

Revenue to Improve Services

He assured the public that the additional revenue from the revised charges would be used to improve airport infrastructure, enhance passenger experience, and strengthen aviation safety systems.

While the new fees have generated public debate, GACL maintains that the adjustments are necessary to secure long-term growth and competitiveness in Ghana’s aviation sector.

By: Janice Opoku-Agyemang

Inflation Forecasts: IC Research Predicts Slight Rise in April 2026

By
Ivy Hollys
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inflation forecasts for April 2026

According to new data released by IC Research, the inflation forecasts for Ghana indicate a modest increase in April 2026. The firm’s latest analysis of March 2026 inflation shows that domestic fuel prices are driving the expected uptick. Petrol prices have increased by 10.9 percent within the first pricing window of April, while diesel has surged by 32.1 percent year-to-date.

IC Research attributes the sharp rise largely to escalating global energy prices triggered by tensions in the Middle East, as well as a 4.9 percent depreciation of the Ghana cedi so far this year.

Despite these developments, the inflation forecasts for Ghana on a year-on-year basis remain relatively stable. Petrol prices are still down by 11.3 percent, while diesel has recorded a 10.9 percent increase.

The firm projects that annual inflation will rise slightly to 3.4 percent in April 2026, with month-on-month inflation expected to hit 1.0 percent.

According to IC Research, Ghana’s current inflation trajectory reflects a continued return to price stability. Headline inflation edged down by 10 basis points to 3.2 percent in March 2026, marking the 15th consecutive month of disinflation.

At 3.2 percent, inflation remains significantly below the target range set by the Bank of Ghana. It stands 280 basis points below the minimum target, 480 basis points below the midpoint, and 680 basis points below the upper ceiling.

IC Research notes that this buffer provides resilience against external shocks, even as rising energy prices pose potential risks.

Looking ahead, the firm cautions that further escalation in global conflicts could increase price pressures. However, it expects inflation to remain within single digits throughout 2026, supported by the sustained impact of the reduced VAT regime.

Police Dismantle Drug Trafficking Network in Upper West Region

By
Adwoa Afranewaa
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Upper West Regional Police Command

The Upper West Regional Police Command has broken up a suspected drug trafficking network following a series of coordinated operations across multiple districts.

The operations, carried out over the past four weeks, targeted key transit routes and communities believed to be used for transporting illegal drugs. These included Eremon in the Lawra District, Nadowli Barrier and Loho in the Nadowli-Kaleo District, Charke and Siriyiri in the Wa Municipality, Hamile in the Lambussie District, and Funsi in the Wa East District.

According to the police, the raids led to the seizure of large quantities of suspected narcotics. In total, officers recovered 218 compressed slabs, 54 parcels, and eight other consignments believed to be Indian hemp.

Confirming the development, the Upper West Regional Police Commander, DCOP Francis Yiribaare, said the operations have significantly disrupted drug movement within the region.

“Over the past four weeks, the Command has recorded a series of narcotic seizures across multiple districts,” he stated.
“The seizures comprised 218 compressed slabs, 54 parcels, and eight other assorted consignments of substances suspected to be Indian hemp.”

Police also made several arrests in connection with the seizures.

DCOP Yiribaare revealed that on April 1, 2026, officers stationed at the Wa-Loho barrier intercepted a Royal VVIP bus travelling from Wa to Jirapa. A search of the vehicle uncovered 51 compressed slabs of suspected drugs.

in connection with that incident.

Two days later, on April 3, a separate police patrol team stopped a Toyota Corolla at Eremon in the Lawra District. Officers discovered 140 compressed slabs in the vehicle, leading to the arrest of two suspects, Dennis Domoyel and Clovis Saame.

“In most cases, the substances were northbound toward Hamile for delivery,” DCOP Yiribaare explained, indicating a possible trafficking route toward border communities.

He added that all suspects are currently at various stages of investigation and prosecution, while the vehicles used in transporting the substances have been impounded.

“The suspects are at various stages of prosecution and investigation, while the vehicles are impounded,” he said.

The Police Commander also issued a strong warning to transport operators and unions, urging them to be vigilant.

“We caution transport owners and unions against allowing their vehicles to be used to courier illicit drugs, as they risk forfeiture and prosecution,” he warned.

The Upper West Regional Police Command has assured the public of its continued commitment to tackling drug-related crimes. Authorities are also encouraging residents to volunteer information that could assist ongoing investigations and help curb trafficking activities in the region.

By: Janice Opoku-Agyemang

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