Ghana News
Cheddar Tipped to Become President, Major ECG Maintenance Today, Export Earnings Hit $11.1bn, and Other Big Stories in Ghana Today
Welcome to your curated roundup of the most relevant and impactful stories shaping Ghana today. Stay informed!
GRIDCo, ECG Announce Maintenance Across 4 Regions on Wednesday, May 20
The Ghana Grid Company (GRIDCo) and the Electricity Company of Ghana (ECG) have scheduled an extensive network of planned and emergency maintenance exercises across four regions for Wednesday, May 20, 2026. Engineers are set to undertake critical infrastructure upgrades that will temporarily disrupt power supply to dozens of communities in the Accra East, Accra West, Tema, Central, and Volta Regions. In the Accra East Region, a planned maintenance operation will run from 9:00 am to 5:00 pm, affecting Dzen Ayor, Ability, Haatso Trotro Station, Agbogba Junction, 37, and surrounding areas. In the Volta Region, GRIDCo will undertake emergency maintenance works at the Aflao Bulk Supply Point from 8:30 am to 4:00 pm, affecting Denu, Aflao, Ave Towns, Keta, and surrounding areas. The ECG and GRIDCo extended their apologies to all affected customers, acknowledging the inconvenience caused.
Mahama Fully Backs the OSP – Gov’t Rejects Secret Plot Claims
Government spokesperson Felix Kwakye Ofosu has denied claims that the Mahama administration is secretly working to weaken or scrap the Office of the Special Prosecutor (OSP). Speaking on PM Express, he insisted President John Mahama fully supports the anti-corruption office and had previously intervened to stop efforts to abolish it. According to him, when a bill was tabled in Parliament last year by the Majority Leader and Majority Chief Whip seeking to scrap the office, President Mahama personally stepped in and urged party leaders to allow the institution to continue operating. “The president prevailed on the majority leader and the majority chief whip to give the special prosecutor a chance,” he stated. Kwakye Ofosu argued that recent legal battles involving the OSP were being wrongly interpreted as government attacks on the institution.
Ghana to Bid Farewell to Apostle Kwadwo Safo as Funeral Rites Set for July 30
Ghana will bid a final farewell to industrialist and founder of the Kristo Asafo Mission, Apostle Dr. Kwadwo Safo, with his funeral and burial rites scheduled to begin on July 30, 2026. The burial service for the celebrated religious leader and innovator will take place at Gomoa Mpota in the Central Region. A national farewell ceremony is also expected to be held at Independence Square in Accra on July 31, where thousands of mourners, dignitaries, traditional leaders, church members, politicians and admirers are anticipated to gather. The funeral activities will conclude with a thanksgiving service at Jackson Park in Kumasi on August 1. The late Apostle Safo, popularly known as “Kantanka,” was widely regarded as one of Ghana’s most influential indigenous innovators.
Cedi Depreciates 8.4% Against Dollar as Inflation Falls to 3.4% – Bank of Ghana Data
The Ghana cedi recorded a year-to-date depreciation of 8.4 per cent against the United States dollar by mid-May 2026, according to the latest Summary of Economic and Financial Data released by the Bank of Ghana on May 19, 2026. The local currency traded at GH¢11.4125 to one US dollar in the first week of May, weakening from GH¢10.95 at the end of January. Against the British pound, the cedi depreciated by 7.5 per cent year-to-date, trading at GH¢15.2055 to the pound, while against the euro, the cedi also recorded a 7.5 per cent depreciation, closing at GH¢13.2695. However, consumer inflation continued its downward trajectory, falling to 3.4 per cent year-on-year in April 2026, with food inflation at 2.2 per cent. The Monetary Policy Rate was reduced to 14.0 per cent in April 2026, down from 28.0 per cent recorded in April 2025.
Ghana’s Public Debt Hits GH¢674.1bn as of February 2026
Ghana’s public debt stock increased to GH¢674.1 billion as of February 2026, equivalent to 42.2 per cent of Gross Domestic Product (GDP), according to the Bank of Ghana’s May 2026 Summary of Economic and Financial Data. In dollar terms, the public debt stock stood at US$63.1 billion in February 2026, up from US$61.3 billion (GH¢641.1 billion) in December 2025. The data showed that external debt stood at US$29.3 billion in February 2026, representing 19.6 per cent of GDP, while domestic debt increased to GH¢360.4 billion in February 2026, from GH¢341.0 billion in January 2026, about 22.6 per cent of GDP. For the government’s fiscal operations, the fiscal deficit-to-GDP stood at 0.3 per cent in March 2026, while the primary balance stood at a surplus of 1.2 per cent of GDP.
Ghana’s Export Earnings Hit $11.1bn on Surging Gold Prices
Ghana’s total export earnings reached $11.1 billion by the end of April 2026, driven largely by rising gold prices and strong export performance – an increase from the $9.2 billion recorded during the same period in 2024. According to the Bank of Ghana’s Summary of Economic and Financial Data, gold exports brought in $6.8 billion by the end of April 2026, compared to $5.2 billion recorded during the same period last year. Earnings from cocoa exports stood at $1.8 billion, unchanged from the figure recorded in April 2026, while crude oil exports generated $1.2 billion. On the import side, Ghana spent $5.8 billion between January and April 2026, up from $5 billion in the same period last year. Despite the increase, Ghana recorded a trade surplus of $5.2 billion. The country’s international reserves increased to $14.4 billion in April 2026, up from $13.8 billion in December 2025.
‘Cheddar Will Become President and I Will Be Appointed Minister of Spiritual Affairs’ – Ajagurajah
Leader of the Ajagurajah Movement, Bishop Kwabena Asiamah, popularly known as Prophet Ajagurajah, has made a bold prediction that businessman and politician Cheddar will eventually become president of Ghana. In an interview on Angel FM, shared on X and sighted by GhanaWeb on May 19, 2026, he stated: “Cheddar will become the president of Ghana. By then, I will have grey in my beard, and I will have locked my hair seven times.” Prophet Ajagurajah further claimed that when his prophecy comes to pass, Cheddar will appoint him as Ghana’s first-ever Minister for Spiritual Affairs – a ministry he said would be the first of its kind in the country. The video has triggered massive reactions among netizens on social media.
Okuapehemaa Cautions Against Sophia Akuffo’s Purported Enstoolment
The Okuapehemaa, Nana Afua Nketiaa Obuo II, has cautioned against the purported enstoolment of former Chief Justice Sophia Akuffo as Mmrahene of the Akuapem Traditional Area, describing the process as legally and customarily contentious. A press release from the Okuapehemaa’s office noted that the purported enstoolment is expected to be conducted by Odehye Kwadwo Kesse, who continues to hold himself out as Okuapehene under the stool name Oseadeeyo Nana Kwasi Akuffo III despite judicial pronouncements concerning his legitimacy. The statement referenced a 2020 judgment by the Eastern Regional House of Chiefs, a High Court contempt conviction with a GH¢10,000 fine, and a Supreme Court dismissal of an appeal on February 20, 2024. The office urged Justice Sophia Akuffo to exercise restraint, stating that her distinguished record as a jurist should not be associated with a disputed traditional authority process.
Ghana News
Ghanaian Firms Inject €425,000 of Own Funds to Ignite ‘Made in Ghana’ Health Innovation
In a powerful demonstration of local ownership, Ghanaian research institutions and pharmaceutical manufacturers are contributing an additional €425,000 of their own money to implement innovative health projects, signaling a robust commitment to advancing homegrown medical solutions beyond relying on foreign aid alone.
The co-funding is part of a €2 million grant package awarded under the PharmaVax Ghana program, backed by the German Federal Ministry for Economic Cooperation and Development (BMZ) and the European Union (EU).
The initiative is designed to bridge the critical gap between scientific discovery and industrial-scale manufacturing within Ghana.
While the grants provide vital financial fuel, the local co-investment—which ranges from €10,000 to €150,000 across the eight winning projects—represents a crucial “skin in the game” approach.
It shows that local institutions are not merely passive recipients of aid, but active stakeholders willing to risk their own capital to bring products to the market. This practical commitment underscores the sustainability of the projects, ensuring they are not abandoned once international funding cycles end.
The projects span a wide range of medical priorities, including fast-dissolving oral tablets for child-friendly malaria treatment, AI-powered diagnostic tools for Mpox and malaria, standardized herbal treatments for hypertension and liver disease, and stability data for locally produced tetanus-diphtheria vaccines.
Highlighting the importance of this local participation, Dr. Sodzi Sodzi-Tettey, Chief Executive Officer of the National Vaccine Institute (NVI), emphasized that the funds are meant to catalyze local capabilities.
“Ghana has the scientific talent, the research institutions and an increasingly capable pharmaceutical industry to develop health solutions that respond to our own priorities,” he stated. “By bringing these strengths together, we are creating the foundation for medicines and vaccines that are developed in Ghana, manufactured in Ghana, and have the potential to benefit the wider region.”
Ghana’s Minister of Health, Hon. Kwabena Mintah Akandoh, echoed this sentiment, noting that the initiative marks a journey where researchers and manufacturers collaborate to transform scientific discoveries into life-saving products.
The €425,000 in local contributions—combined with the €2 million in grants and technical assistance from the EU and Germany—positions Ghana as a rising hub for pharmaceutical industrialization in West Africa, moving the nation closer to health security and economic self-reliance.
Ghana News
From Default to Discipline: How Ghana is Legally Binding Itself to Prevent the Next Debt Crisis
Fresh off a landmark agreement with Belgium that eases its debt burden, Ghana’s Finance Minister, Dr. Cassiel Ato Forson, has unveiled a sweeping package of legal and institutional reforms designed to permanently prevent the country from sliding back into the fiscal chaos that triggered its 2022 sovereign default.
The deal with Belgium to restructure €163 million in debt owed to the country’s Export Credit Agency marks a pivotal step towards completing Ghana’s broader debt restructuring program. Crucially, the agreement frees up much-needed “fiscal space” by slashing the amount of national revenue consumed by debt servicing. Minister Forson revealed that Ghana’s debt-service burden has fallen drastically from a crippling peak of roughly 50% to 55% of national revenue to less than 20% today—a shift that directly impacts the government’s ability to fund schools, hospitals, and roads.
However, the most significant aspect of Ghana’s strategy is its attempt to codify fiscal prudence into law, ensuring that the discipline learned from the crisis is not lost by future administrations.
A Three-Pronged Strategy for Fiscal Discipline
1. The Commitment Authorization Regime
At the core of the immediate controls is a strict mandate for all Ministries, Departments, and Agencies (MDAs). Under the amended Public Financial Management Act, no government institution can initiate a contract for goods, services, or works without first securing commitment authorization from the Finance Minister . This process, integrated with the Ghana Integrated Financial Management Information System (GIFMIS), acts as a “roadblock” to prevent overspending and the accumulation of hidden arrears—a practice that historically poisoned the country’s finances.
2. Binding Fiscal Rules in Law
Beyond day-to-day controls, the government has instituted statutory targets to ensure long-term solvency. The Public Financial Management Act has been amended to require a minimum annual primary surplus of 1.5% of GDP and to cap the national debt-to-GDP ratio at 45% by 2034 . These are not policy recommendations but binding legal requirements, with the Finance Minister potentially facing censure for breaching these targets.
3. Independent Oversight Institutions
To guarantee that fiscal responsibility is maintained even after Ghana concludes its International Monetary Fund (IMF) programme, the government has established two powerful oversight bodies:
- The Value for Money Office: Parliament passed the Value-for-Money Office Bill in March 2026, creating an independent body to scrutinize major public expenditure. This office will combat inflated contracts, cost overruns, and abandoned projects by issuing mandatory “Value for Money Certificates” before major contracts are awarded.
- The Independent Fiscal Council: The government is establishing a council composed of locally appointed experts to provide advisory support on financial controls and fiscal decision-making . This council, scheduled to take effect after the IMF programme ends, aims to strengthen domestic oversight and accountability, ensuring that Ghana owns its fiscal destiny.
From Recovery to Sustainability
Finance Minister Ato Forson is clear about the goal: “We want to ensure that the fiscal rules that we have instituted today are enshrined in law, so that even if this government is not there, the next government will have to make sure that these fiscal rules are respected” .
The Belgium agreement is the immediate piece of good news that provides tangible relief—allowing Ghana to redirect more resources towards essential public services. But the real measure of Ghana’s recovery will be its ability to enforce these new legal shackles.
By moving from crisis management to institutionalized discipline, Ghana is attempting to break the cycle of over-borrowing, arrears, and economic collapse that has plagued the nation for decades.
Ghana News
EU and Germany Inject €2 Million into Ghana to Boost ‘Made in Africa’ Pharma Production
In a significant boost to Africa’s push for pharmaceutical self-reliance, the European Union (EU) and Germany have injected €2 million into Ghana to bridge the critical gap between laboratory research and industrial-scale manufacturing.
The funding, awarded under the PharmaVax Ghana programme, has been distributed to eight groundbreaking research partnerships aimed at developing and manufacturing medicines and vaccines locally, drastically reducing the continent’s historical reliance on imported drugs.
The announcement came during the “Research Meets Manufacturing” Award Ceremony in Accra on August 19, co-hosted by Ghana’s National Vaccine Institute (NVI) and the German development agency GIZ.
The grants are jointly funded by the German Federal Ministry for Economic Cooperation and Development (BMZ) and the European Union (EU) as part of the broader Team Europe Initiative on Manufacturing and Access to Vaccines, Medicines and Health Technologies in Africa (MAV+).
This strategic geopolitical and economic move underscores Western Europe’s commitment to backing local African manufacturing ecosystems, countering the long-standing structural imbalance where Africa imports over 90% of its pharmaceuticals.
“A ceremony marks the beginning of an important journey—a journey that brings researchers, manufacturers, government and international partners together to transform scientific discoveries into medicines and vaccines that save and improve lives,” said Hon. Kwabena Mintah Akandoh, Ghana’s Minister of Health, during the event.
Innovation Across the Health Spectrum
The eight winning projects, selected from 43 competitive proposals by an independent committee of nine Ghanaian experts, represent the breadth of the nation’s scientific talent. They include:
- AI-driven monoclonal antibodies and diagnostics for Mpox and malaria, using a Ghanaian artificial intelligence platform.
- Fast-dissolving oral tablets for the treatment of malaria in children, addressing critical issues of accurate dosing.
- Clinical trials for locally developed herbal treatments for prostate health, hypertension, and alcohol-related liver disease.
- Stability data generation to support regulatory approval of locally produced tetanus-diphtheria vaccines, snake venom antiserum, and pain management therapies.
A Foundation for Health Sovereignty
Dr. Sodzi Sodzi-Tettey, Chief Executive Officer of the National Vaccine Institute, emphasized that the grants go far beyond financial aid.
“Ghana has the scientific talent, the research institutions and an increasingly capable pharmaceutical industry to develop health solutions that respond to our own priorities,” Dr. Sodzi-Tettey stated. “By bringing these strengths together, we are creating the foundation for medicines and vaccines that are developed in Ghana, manufactured in Ghana, and have the potential to benefit the wider region.”
Notably, Ghanaian partners are contributing an additional €425,000 towards implementing their projects, demonstrating a strong local commitment to advancing homegrown innovation. Alongside the direct funding, the projects will also receive technical assistance, networking opportunities, and knowledge exchange to ensure long-term commercial viability.
As the global health community increasingly looks to localized manufacturing to secure supply chains, this €2 million initiative serves as a pivotal case study.
It represents a concrete, actionable blueprint for how international development capital can ignite the “Made in Africa” pharmaceutical industrial wave, securing the continent’s health security and driving economic development from within.
Ghanaian Firms Inject €425,000 of Own Funds to Ignite ‘Made in Ghana’ Health Innovation
From Default to Discipline: How Ghana is Legally Binding Itself to Prevent the Next Debt Crisis
