Business
Mahama Vows to Continue Austerity, Fiscal Discipline Even After Ghana Exits IMF Program
TAMALE – President John Dramani Mahama has signaled that Ghana will maintain strict fiscal discipline even after the country’s current International Monetary Fund program concludes in May, saying that responsible spending management must continue regardless of external oversight.
The President made the remarks on Sunday during a “ResettingGhana” citizens’ engagement at the University for Development Studies in Tamale, where he addressed concerns about the economy’s trajectory following the exit from the IMF program.
“It is not because of the IMF. We must be able to maintain fiscal discipline so that we are able to save resources to invest in the things that are important to our people,” Mahama said.
The President noted that inflation, which stood above 24 percent when his administration took office, had been brought down to under four percent. He said the government intended to keep it at that level through continued fiscal restraint.
Mahama also acknowledged that Ghana’s debt default had shut the country out of international capital markets, making external loans impossible to access. However, he argued that this constraint had forced the government to fund its programs from domestic resources.
“Until this administration, I didn’t believe that we could do some of the things we are doing using our own money,” he stated.
The President pointed to a build-up in foreign reserves, which he said had grown from 8.3 billion dollars when his administration came to office to 13.9 billion dollars, as a buffer that had helped insulate the economy from external shocks.
On fuel prices, Mahama said the government had absorbed part of the cost at the pump to prevent further increases, keeping diesel at 16.10 cedis per litre when it would otherwise have reached 19 cedis.
He expressed hope that ongoing peace talks in Pakistan between parties to the US-Israel-Iran conflict would lead to a resolution that would ease global oil market pressures. Despite the external risks, the President maintained that Ghana’s economic management had shielded citizens from the worst effects of global volatility.
The IMF program under which Ghana has been operating is due to end in May.
Mahama’s commitment to maintaining fiscal discipline beyond the program’s conclusion is seen as a signal to international investors and multilateral partners that Ghana intends to preserve the reforms implemented during the IMF engagement.
Business
Uber Sued by California Drivers Over How It Treats Them
A California ride-share driver advocacy group filed a complaint Monday, April 20, 2026, in state court against Uber Technologies, Inc., alleging the company violated Proposition 22 and should be barred from classifying its drivers as independent contractors.
Rideshare Drivers United (RDU), a California nonprofit representing more than 20,000 app-based drivers in the state, claimed Uber breached the Protect App-Based Drivers and Services Act, as amended by 2020’s Proposition 22.
Allegations in the Complaint
The complaint alleges that Uber:
- Terminates drivers on grounds not specified in their contracts
- Fails to provide a meaningful appeals process for deactivated drivers
- Prohibits drivers from declining rides based on customer location or the presence of a service animal
- Withholds sufficient earnings information for drivers to verify they are receiving required compensation
Legal Argument and Requested Relief
RDU, represented by attorney Shannon Liss-Riordan of Lichten & Liss-Riordan, P.C., argues that because Uber has not complied with Proposition 22, the company cannot invoke its independent contractor protections.
The suit seeks a court declaration that Uber is disqualified from asserting its drivers are independent contractors. Such a ruling would expose Uber to misclassification claims under the California Labor Code.
Background on Proposition 22
Proposition 22 passed in November 2020 after a coalition of gig companies spent more than $220 million on the campaign. Uber alone spent more than $50 million supporting the measure.
The measure exempted app-based transportation and delivery companies from Assembly Bill 5, which had codified the state’s ABC test for employee classification.
The California Supreme Court upheld Proposition 22’s constitutionality in Castellanos v. State of California in July 2024.
Case Status
The case has no trial date. Uber has not publicly responded to the complaint.
Business
Ivory Coast Cocoa Farmers Hope for Increased Rainfall to Boost Mid-Crop Harvest
Abidjan, Ivory Coast – Cocoa farmers across Ivory Coast, the world’s largest producer of the commodity, are calling for more consistent rainfall to improve the quality and size of beans in the ongoing mid-crop season running from March to August.
Although the West African nation is currently in its official rainy season (April to mid-November), rainfall was below average in most cocoa-growing regions last week.
Farmers say the drier conditions are not yet threatening the overall health of trees, which carry a good mix of small, medium, and large pods, but additional moisture is urgently needed to support bean development for the peak harvesting period between May and July.
In the west-central region of Daloa and central areas such as Bongouanou and Yamoussoukro, where rainfall was significantly below the five-year average, farmers noted that the current heat is helping already-harvested beans dry well. However, they stressed that young and developing pods require steady rain.
“It’s very hot. The beans are well dried, but the trees need enough rain for the rest of the mid-crop season,” said Albert N’Zue, a farmer near Daloa, where only 9.7 mm of rain fell last week — 11.9 mm below average.
In contrast, the western region of Soubre and eastern region of Abengourou received above-average rainfall last week. Farmers in these areas, along with those in southern districts like Agboville and Divo (where rains were below average), stressed the need for abundant and regular precipitation.
“We need plenty of steady rain to grow large, high-quality beans,” said Kouassi Kouame, a farmer near Soubre, which recorded 28.6 mm of rain (6.2 mm above average).
Weekly average temperatures across the country ranged between 29°C and 33.2°C (84°F to 92°F). Farmers remain generally optimistic, noting that harvesting has started to pick up and that cloudy skies suggest more rain could arrive in the coming weeks.
Cocoa production in Ivory Coast is highly sensitive to weather patterns, and the mid-crop (also known as the “light crop”) typically accounts for 20–30% of the country’s annual output.
Stronger rainfall in the coming weeks will be critical for determining the final size and quality of this season’s beans, with potential implications for global cocoa supply and prices.
Business
Nigeria Bans Imports of Poultry, Cement and Many Other Goods from Outside ECOWAS
Abuja, Nigeria – The Nigerian government has introduced a sweeping import ban on 17 categories of goods from countries outside the Economic Community of West African States (ECOWAS), in a major policy shift designed to protect local industries and promote regional trade.
The prohibition, signed by Finance Minister Wale Edun and effective from April 1, 2026, forms part of Nigeria’s revised 2026 Fiscal Policy Measures and Tariff Amendments.
It specifically targets goods originating from non-ECOWAS nations while allowing freer trade within the West African bloc. A 90-day grace period has been granted to importers who had already opened Form ‘M’ and entered into irrevocable trade agreements before the effective date.
Affected Products
The revised import prohibition list includes the following key items:
Live or dead birds, including frozen poultry
Pork/beef and related meat products
Bird eggs (except hatching eggs for breeding/research)
Refined vegetable oil (with limited exceptions)
Cane or beet sugar and flavoured sucrose
Cocoa butter, powder and cakes
Tomatoes, tomato paste and concentrates
Sugary and flavoured non-alcoholic beverages
Bagged cement
Medicaments (pharmaceutical products) and waste pharmaceuticals
NPK fertilisers
Soaps and detergents
Corrugated paper, cartons and boxes
Certain hollow glass bottles
Flat-rolled iron or steel products (corrugated)
Ballpoint pens and refills
In addition, the government introduced a 2% “green tax” surcharge on motor vehicles with engine capacities between 2,000cc and 3,999cc, and those above 4,000cc.
Strategic Objectives
The measures are intended to boost domestic production, reduce reliance on foreign imports, conserve foreign exchange, and strengthen intra-African trade under the ECOWAS framework and the African Continental Free Trade Area (AfCFTA). By restricting imports from outside the region, Nigeria aims to create a larger market for locally manufactured goods and encourage investment in agriculture, manufacturing, and pharmaceuticals.
The policy comes shortly after the government announced tariff reductions on certain items such as cars, palm oil, and sugar, signalling a calibrated approach to trade liberalisation within the region while protecting strategic sectors.
This latest fiscal intervention underscores Nigeria’s determination to reindustrialise its economy and reduce its historically high dependence on imported consumer goods.
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