Ghana News
Gold Output Rising, But Ghana Still Outside Africa’s Top 10 Foreign Reserves
Despite recent progress in gold production and renewed policy focus on domestic refining and mining expansion, Ghana remains absent from Africa’s top 10 countries with the highest gold and foreign exchange reserves.
The latest rankings underscore a persistent gap between mineral output and reserve accumulation, highlighting structural challenges in how mining revenues are converted into long-term national savings.
Analysts note that while Ghana continues to rank among Africa’s leading gold producers, factors such as debt servicing pressures, currency stabilization efforts, and limited reserve retention have constrained the country’s ability to build sizable gold and forex buffers compared to its continental peers
Africa’s financial strength is often measured by a country’s foreign exchange and gold reserves — vital buffers that help nations stabilize their economies, support currencies, and withstand external shocks.

According to a new ranking by Business Insider Africa, based on data from Global Firepower, several African countries hold significant reserves at the start of 2026, reflecting both resource wealth and economic policy choices.
Top 10 African Economies by Reserves
- Libya – $92.9 billion
Libya tops Africa’s list with nearly $93 billion in reserves. Its large holdings, primarily backed by oil revenues, place it 31st globally, although political instability has limited the effective use of these resources. - Algeria – $83.0 billion
Algeria ranks second in Africa and 33rd in the world, with reserves driven by gas and hydrocarbon exports. - South Africa – $65.4 billion
A diversified economy with strong mining and financial sectors, South Africa sits third in Africa and 38th globally — its reserves reflecting gold, platinum, and other export earnings. - Egypt – $44.9 billion
Egypt’s reserves benefit from tourism, remittances, Suez Canal revenues, and external financing, ranking 47th worldwide. - Nigeria – $38.6 billion
Nigeria, Africa’s largest economy by GDP, holds $38.6 billion in reserves, closely tied to oil export revenues, and ranks 53rd globally. - Morocco – $37.1 billion
Morocco’s diversified foreign exchange position, supported by manufacturing, agriculture, tourism, and remittances, places it 54th globally. - Angola – $14.2 billion
With a reserve base shaped by oil export revenues, Angola ranks 71st globally. - Kenya – $10.1 billion
Kenya’s reserves — supported by remittances, tea and horticulture exports, and services — secure its 77th global position. - Tunisia – $9.3 billion
Tunisia manages $9.3 billion in reserves amid fiscal challenges and reliance on tourism and remittances, ranking 81st globally. - Ivory Coast – $7.4 billion
Rounding out Africa’s top ten, Ivory Coast’s reserves reflect cocoa export earnings and regional currency zone support, placing it 86th in the world.
What Reserves Mean for African Economies
Foreign exchange and gold reserves are a strategic economic tool. They help nations:
- Support their currencies during volatile market conditions.
- Cover import costs and external debt obligations.
- Attract foreign investment by signaling financial strength.
High reserve levels allow central banks to intervene in currency markets and provide a buffer against global shocks such as commodity price swings or capital outflows — a critical advantage in a continent where many economies remain vulnerable to external fluctuations.
These rankings showcase how both resource-rich and diversified economies across Africa are leveraging foreign exchange and gold holdings to build resilience and enhance long-term financial stability in an interconnected global economy.
Ghana News
From Floods to Action: Ghana’s President Unveils Monthly Cleanup Plan
President John Dramani Mahama on Friday joined thousands of Ghanaians in a nationwide clean-up exercise across the flood-ravaged Accra Metropolis, using the occasion to announce a new policy that would set aside one day every month for community cleaning—a move aimed at transforming crisis response into sustained civic routine.
The two-day National General Cleaning Exercise, which began at 6:00 am on Friday and resumes on Saturday, targets seven flood-affected regions, with Greater Accra alone hosting 104 identified flood-prone locations. At Tse Addo, President Mahama inspected a newly desilted drain, pointing to the volume of plastic waste removed as evidence of the cause behind Ghana’s recurring flooding disasters.
“Clearly, we can see the cause of some of the challenges we face. We have just desilted this drain, and the amount of plastic waste removed from it tells the story,” the President observed. He noted that the quantity of sand and silt accumulated over several years had drastically reduced the drain’s capacity to carry water effectively.
A Systemic Failure Exposed
The President acknowledged that previous clean-up efforts had been undermined by poor disposal practices—silt removed from drains was often left by the roadside, only to be washed back in when the rains returned.
“As part of this exercise, we must ensure that after removing the silt, we have the necessary capacity to transport it away and dispose of it at appropriate locations,” he said, adding that consistent effort over the next year or two would restore the drains’ capacity.
Monthly Clean-Up: From Crisis to Routine
In a significant policy announcement, President Mahama stressed that the cleanup should not be a one-time activity but a continuous national effort, with at least one day set aside every month for communities to clean their surroundings. The proposal signals a shift from reactive disaster response to proactive environmental governance—a model that development experts say could offer lessons for other rapidly urbanizing nations across the Global South.
Plastic Waste: The Hidden Culprit
At Alajo, where the desilted drain forms part of the Odaw stream, the President revealed two major challenges: the accumulation of silt and the presence of plastics and household waste, including discarded building materials, old furniture and dining tables.
“Drains are not dumping grounds,” Mahama stressed, urging residents to make use of skip containers placed across the city for proper collection by waste management companies. His remarks connect Ghana’s flooding crisis to a global environmental emergency—plastic waste clogging urban drainage systems—a problem that resonates from Jakarta to Lagos.
Military Deployment and Funding
The President disclosed that the Minister of Finance had released GH¢150 million to support dredging of streams and other flood interventions. He announced that the Armed Forces would continue the dredging exercise even after the two-day national cleanup program ended, with additional backhoes to be provided to help remove silt and transport it to approved disposal sites.
“Without proper disposal, the same silt and garbage will be washed back into the drains when the rains return,” he warned.
A Warning Against Complacency
In a striking metaphor, President Mahama cautioned against complacency, saying the country must not “behave like the vulture that plans to repair its roof only after the rains have stopped”.
“We must act now. That is why it is important that we clear our drains and waterways,” he stressed.
The President attributed some of the current sanitation challenges to the pressures of urbanization, noting that traditional values around keeping the environment clean had, in some cases, been abandoned as a result of the anonymity that comes with city life. He called for a restoration of that discipline and commended traditional leaders, including Nii Ga, for their support in mobilizing residents.
What Happens Next
The two-day exercise, which requires non-essential shops, markets, and commercial establishments within affected regions to remain closed from 6:00 am to 1:00 pm, is expected to mobilize millions of citizens. Saturday’s phase will shift focus toward community-level activities, with residents, volunteer groups, traditional authorities, and waste management companies taking the lead.
For many Ghanaians, however, the biggest question is whether the monthly clean-up proposal will be sustained—or whether it will fade after the current crisis subsides. The answer may ultimately determine whether Ghana’s latest flood response becomes remembered as a turning point in environmental governance, or yet another missed opportunity.
Ghana News
Ghana’s Nationwide Flood Clean-Up Kicks Off with Slow Start
ACCRA, Ghana – July 10, 2026 – A two-day nationwide clean-up exercise across seven flood-ravaged regions began Friday morning sluggishly.
Authorities have been urging residents, businesses, and institutions to ramp up participation as teams work to clear refuse, desilt choked drains, and restore public spaces following recent devastating floods.
The exercise, which commenced at 6:00 am local time, will run until 1:00 pm and resume on Saturday, July 11, during the same hours. While early-morning activity in several metropolitan areas was initially subdued, officials report that momentum is gradually building as local assemblies, waste management contractors, security services, and volunteer groups deploy to designated hotspots.
According to the government’s outlined schedule, the first day focuses on Ministries, Departments and Agencies (MDAs), Metropolitan, Municipal and District Assemblies (MMDAs), public and private institutions, educational bodies, and waste management firms.
Saturday’s phase will pivot toward community-led efforts, tapping into residents, traditional authorities, and volunteer networks to drive localized clean-up at the grassroots level.

In a bid to maximize turnout, non-essential shops, markets, and commercial establishments within the seven affected regions have been ordered to shut their doors from 6:00 am to 1:00 pm on both days, with exemptions granted only to essential and emergency service providers.
The Ministry has called on transport operators, religious groups, and corporate entities to actively back the initiative, framing it as a critical step toward restoring safe, hygienic communities after the flooding crisis.
Greater Accra, the epicenter of the recent deluge, hosts the bulk of the operation, with authorities identifying 104 flood-prone and affected locations across 17 assemblies. Key areas include, Ga South (Tetegu, STC, Mallam East, New Weija), Ga Central (Awoshie, Kolegu, Israel, A-Land), Ga North (Pokuase Footbridge, Ofankor Barrier), and Ga East (Dome Market, Abokobi Drain). In the capital’s core, heavy machinery and manual crews are converging on major drainage arteries such as Alajo, Kokomlemle, Pig Farm, Mamobi, Nima Highway, the Kanda stretch to Kawukudi, and the 37 Hospital corridor. Coastal communities like Teshie-Nungua, Prampram, Sege, and Tema West’s industrial and residential zones are also actively participating.
Despite the tepid start, authorities remain optimistic that participation will surge as the morning progresses, setting the stage for an even more robust community-driven effort on Saturday.
The exercise represents the government’s most visible response to the recent flooding emergency, mobilizing public administration and local governance structures to tackle the immediate environmental and health hazards facing affected populations.
Ghana News
Top 10 Newspaper Front Page Headlines in Ghana Today: Friday, July 10, 2026
Top 10 news stories on Ghanaian newspaper front pages dated Friday, July 10, 2026.
1. GHC350m Contingency Fund Release Controversy
- Appears in: The New Publisher, The Ghanaian Publisher, The Custodian, The Chronicle
- Summary: The Attorney General is under fire for allegedly instructing the Bank of Ghana to release GHC 350 million from the frozen Contingency Fund for flood relief, despite a court order blocking it. The Minority in Parliament is demanding a probe and blasting the AG’s “lawless” approach.
2. Abu Trica Extradited to US Over $8m Romance Scam
- Appears in: Daily Guide, Ghanaian Times, The New Publisher
- Summary: Socialite Abu Trica has been extradited to the United States to face charges related to an alleged $8 million romance fraud scheme. The extradition happened despite a lack of a court order reversing the decision on the Black Volta project (mentioned in related coverage).
3. GJA Gives NDC Chairman Seven Days to Apologise Over Obaatanpa Radio Attack
- Appears in: Supreme, Daily Guide
- Summary: The Ghana Journalists Association (GJA) has given the Central Regional Chairman of the NDC a seven-day ultimatum to apologise for an attack on Obaatanpa Radio. The incident has sparked significant backlash.
4. Gomoa East NPP Rallies Behind Francis Mensah for Chairman
- Appears in: Supreme, The Ghanaian Publisher, The Custodian, The Metro Lens
- Summary: The Gomoa East Constituency of the NPP is rallying to elect Francis Mensah as the next Constituency Chairman. This grassroots movement is a major story across multiple papers.
5. Azumah Resources Denies Reversal of Black Volta Project Ownership
- Appears in: News Centa, The Chronicle, Daily Guide
- Summary: Azumah Resources Ghana Ltd has refuted false media reports claiming that an ICC ruling reversed the acquisition of the Black Volta project. They insist they still own the project, calling the reports “a big lie.”
6. Amankwaa Donates GHC 100,000 Seed Fund to Ayawaso West NPP
- Appears in: Supreme, News Centa
- Summary: Samuel Owusu Amankwaa has donated GHC 100,000 as a seed fund to the Ayawaso West Wuogon NPP constituency ahead of the election of new executives.
7. North Dayi Boils Over: “Joycelyn Must Go” Protests
- Appears in: Supreme
- Summary: Residents of North Dayi are up in arms, with protests erupting under the banner “Joycelyn Must Go.” The protesters are chanting “Enough is Enough” over local grievances.
8. NHIA Cracks Down on Illegal Charges in Eastern Region
- Appears in: The Metro Lens
- Summary: The National Health Insurance Authority (NHIA) has launched a crackdown on illegal charges being imposed on patients in the Eastern Region. The NHIA Boss is leading the effort.
9. $208m Methamphetamine Scandal
- Appears in: The Ghanaian Publisher, The Custodian
- Summary: An MP is demanding the prosecution of officials involved in a $208 million methamphetamine scandal. There are also calls for the government to name officials implicated, with accusations of a cover-up.
10. National Sanitation Exercise and Flood Recovery Clean-Up
- Appears in: Supreme, The Punch, The New Publisher, News Centa
- Summary: A nationwide clean-up exercise is underway to aid flood recovery, with various political figures and MCEs rallying residents to participate. The exercise is scheduled for the weekend, with a focus on recovery from recent floods.
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