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Bank of Ghana Tightens Export Dollar Repatriation Rule with Harsh Penalties

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The Bank of Ghana (BoG) has introduced stricter regulations requiring exporters to repatriate foreign exchange earnings within 120 days of shipment, effective October 30, 2025.

Failure to comply now carries severe penalties, including fines of up to 5,000 penalty units or imprisonment for up to 10 years, as the central bank works to reduce forex leakages and strengthen the cedi.

Under the new directive, export proceeds must be returned through the exporter’s nominated local bank within the 120-day window from the date of shipment.

The policy replaces earlier frameworks and forms part of ongoing IMF-backed reforms aimed at improving foreign exchange liquidity, supporting import needs, and stabilizing the domestic currency.

The BoG’s move targets persistent delays in repatriation that have contributed to reserve pressures and currency volatility. By ensuring export revenues—especially from gold, cocoa, oil, and other commodities—return quickly to Ghana’s banking system, authorities hope to enhance market liquidity and reduce reliance on external borrowing.

However, the 120-day deadline has raised concerns among exporters. Industry voices, including commentary on platforms like Instagram by export consultant @annaspioofficial, argue that international trade realities—such as shipping delays, buyer payment disputes, and documentation issues—often extend beyond 120 days. Critics warn that rigid enforcement could burden small and medium exporters, potentially affecting competitiveness or discouraging new export activity.

The central bank has maintained that the rules are firm and legally enforceable, with no general exemptions outlined. Exporters are urged to work closely with their banks, track payments diligently, and keep thorough records to meet the deadline.

This policy is part of broader efforts to rebuild Ghana’s foreign reserves and maintain recent cedi gains. Businesses operating under post-October 2025 shipments are advised to review compliance requirements immediately to avoid significant legal and financial risks.

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Ghana’s Upcoming 5G Rollout to Open Door for Better Enterprise Solutions

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Accra, Ghana – March 4, 2026 – The National Communications Authority (NCA) has formally proposed to cancel the exclusivity clause in Next-Gen Infraco’s (NGIC) 5G licence, a decision that—if approved—would end NGIC’s ten-year sole right to deploy and operate 5G networks in Ghana and allow other operators to roll out 5G services independently.

In a Notice of Proposed Licence Amendment issued under Section 14 of the Electronic Communications Act, 2008 (Act 775), the NCA stated that removing the exclusivity provision is “in the public interest” and will achieve four key objectives:

– Promote competition and innovation in 5G services

– Enhance consumer choice and service quality

– Accelerate nationwide digital transformation

– Ensure optimal and efficient use of spectrum as a national resource

The proposed change would take effect 90 days from the date of the notice unless NGIC successfully objects during the statutory consultation period. The NCA emphasized that the amendment follows due process and aligns with its mandate to regulate the sector transparently and in the national interest.

NGIC was awarded the 5G licence in 2024 with the exclusive right to build and operate a shared 5G network until 2034. All mobile network operators (MNOs) wishing to offer 5G services were required to partner with NGIC. As of early 2026, NGIC has deployed only 49 sites nationwide: 43 in Greater Accra, 2 in Ashanti, and one each in Western, Northern, Bono, and Central regions.

The NCA also disclosed that NGIC is currently in default of its licence fee instalment payments and said the Authority is addressing the matter under the relevant licence conditions and statutory provisions.

Implications for Ghana’s Telecoms Sector

The proposed removal of exclusivity is widely seen as a potential game-changer for Ghana’s digital economy. Industry analysts and telecom executives have long argued that a single-provider model risks delaying nationwide coverage, limiting innovation, and keeping 5G prices high.

Samuel Nii Narku Dowuona, a telecom policy commentator, told Ghana News Global that true 5G competition would accelerate enterprise solutions in mining, oil & gas, manufacturing, healthcare (e.g., real-time telemedicine from ambulances), and agriculture (e.g., precision farming via IoT sensors).

“5G is great for enterprise solutions,” Dowuona said. “Businesses can provide services more efficiently to clients. Think of an ambulance fitted with 5G gadgets communicating in real time with a doctor at a hospital—such a solution could have saved lives in recent emergencies.”

The NCA’s move signals a shift toward a more competitive 5G landscape, potentially allowing MTN, Vodafone, AirtelTigo, and other operators to deploy their own networks or negotiate better terms with NGIC.

Faster rollout could also help Ghana close the digital divide, improve e-government services, attract foreign tech investment, and support President Mahama’s 24-Hour Economy agenda.

NGIC has not yet publicly responded to the proposed amendment. The NCA reiterated its commitment to fair, predictable regulation that balances investment incentives with consumer benefits and efficient spectrum use.

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Ghana Records 14th Straight Drop in Inflation, Hits 3.3% in February 2026

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Accra, Ghana – March 4, 2026 – Ghana’s inflation rate continued its remarkable downward trajectory, falling to 3.3% in February 2026—the 14th consecutive monthly decline and the lowest level since the 2021 rebasing of the Consumer Price Index (CPI).

According to fresh data released by the Ghana Statistical Service, the CPI rose from 255.9 in February 2025 to 264.4 in February 2026, translating into a year-on-year inflation rate of 3.3%. This marks a dramatic improvement from the 23.1% recorded in February 2025—a 19.8 percentage point reduction within 12 months.

On a month-on-month basis, prices increased modestly by 0.8% between January and February 2026, reflecting controlled short-term pressures.

Key highlights from the report include:

Food & non-alcoholic beverages inflation slowed sharply to 2.4% (from 3.9% in January), offering welcome relief to households.

Non-food inflation rose slightly to 4.0% (from 3.8%).

Imported inflation dropped significantly to 0.6% (from 2.0%), signaling reduced external price pressure.

Locally produced goods inflation eased to 4.5% (from 4.6%).

Goods inflation fell to 3.2% while services inflation declined to 3.7%.

Regional variation remained: the Savannah Region recorded the lowest rate at -5.6%, while the North East Region posted the highest at 8.9%.

The sustained easing underscores the effectiveness of recent monetary and fiscal measures under the current administration, including tighter policy coordination, improved supply chains, and reduced import costs following cedi stability.

With inflation now firmly anchored in low single digits for the first time in years, policymakers and economists are shifting focus to maintaining this momentum amid external risks—particularly volatile global energy prices and geopolitical tensions in the Middle East that could reverse gains.

The Ghana Statistical Service will release the March 2026 CPI figures next month.

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Ghana’s Mega Infrastructure Push: 10 Game-Changing Projects Set to Transform the Country in 2026

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Accra, Ghana – March 3, 2026 – Ghana is in the midst of one of the most ambitious infrastructure drives in its history, with ten massive projects—ranging from railways and highways to solar parks, gas processing plants, and a landmark petroleum hub—poised to reshape transportation, energy, trade, and economic opportunity across the country and West Africa.

A recent viral video breakdown highlights these “megaprojects” as the backbone of Ghana’s development agenda under President John Dramani Mahama’s administration, emphasizing their role in modernizing mobility, boosting industrial output, ensuring energy security, and positioning Ghana as a regional economic powerhouse.

Top 10 Megaprojects Driving Ghana Forward

1 Big Push Roads Network
The flagship of Ghana’s GH¢30.8 billion infrastructure plan, this nationwide programme includes over 32 major road projects—dual carriageways, bridges, and interchanges—along critical corridors such as Accra–Kumasi, Tema–Aflao, and Cape Coast–Takoradi. Sod-cutting ceremonies began in 2025, with rapid progress expected in 2026. The network aims to slash congestion, cut transport times, lower logistics costs, and unlock trade, agriculture, and manufacturing growth.

2 Ghana Petroleum Hub
A $60 billion mega-development in the Jomoro Municipality near the western border, the hub integrates exploration, refining, storage, and export facilities. Groundwork accelerates in 2026, promising thousands of jobs, foreign investment, and a shift from net importer to regional energy leader.

3 Big Push Road Interchanges
Eight major interchanges along the Accra–Kumasi corridor target chronic urban congestion, supporting the 24-Hour Economy by improving traffic flow, reducing delays, and boosting productivity for commuters and businesses.

4 Trans-ECOWAS Railway
A proposed 530 km standard-gauge corridor linking Ghana’s eastern and western borders to Togo and Côte d’Ivoire. Feasibility studies continue, with potential construction start in 2026, aiming to revolutionize regional trade and connectivity.

5 Dawa Solar Park Phase 1
Ground broken in November 2025, this 100 MW solar facility in the Dawa Industrial Enclave near Accra is set for completion by December 2026. Phase 2 will double capacity to 200 MW, offering industrial users a 10% energy discount and significantly cutting carbon emissions.

6 OCTP Gas Processing Upgrade
Offshore Cape Three Points (OCTP) facility expanded to 270 million standard cubic feet per day in 2025, supplying ~70% of Ghana’s domestic gas and ~34% of electricity. The upgrade strengthens energy security and reduces reliance on imported fuels.

7 Amer Power Plant Relocation
Relocation of the Amer plant from Aboadze to Anwomaso in the Ashanti Region (ongoing since 2024) optimizes distribution, reduces transmission losses, and improves reliability for northern regions.

8 Bui Hydro-Solar Hybrid Phases 2 & 3
Adding 150 MW of solar to the existing Bui hydroelectric plant in the Bono Region, this hybrid expansion enhances renewable output, preserves water resources, and provides stable power even during low-rainfall periods.

9 Wiawso–Sankore Road
A 195 km highway across Bono East, Savannah, and Upper West regions, divided into seven lots for faster construction. Part of the Big Push initiative, it will accelerate agri-freight, connect regional capitals, and open rural markets.

10 Kojokrom–Manso Railway
A standard-gauge mineral freight line in the Western Region, 16% complete by 2023 and targeted for full operation by May 2026. Designed to move bulk cargo (gold, bauxite, manganese) efficiently to ports, reducing road congestion and transport costs.

These projects collectively aim to modernize Ghana’s transport backbone, secure reliable energy, integrate renewables, boost agricultural and industrial value chains, and position the country as a West African trade and logistics hub. Many are already under construction or in advanced planning, with 2026 marking a pivotal year of acceleration.

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