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
Fatal Fire on Accra-Tema Motorway, Private Awards for Ministers Trigger Backlash, Patients Stranded at KATH, and Other Big Stories in Ghana Today
We have curated the most relevant stories in Ghana today, bringing you timely updates on key issues in the country wherever you may be. Stay tuned.
President Mahama Directs Appointees to Refrain from Awards by Doubtful Organizers
President John Dramani Mahama has directed all ministers of state, CEOs of state institutions, and other political appointees to refrain from participating in, sponsoring, endorsing, attending, or accepting awards from private organizations without express authorisation from the Office of the President. This follows concerns over the proliferation of awards from entities with unclear credentials, lacking transparent and verifiable criteria, which risk undermining public service integrity and exposing government to criticism. A recent example was the 6th Ghana Ministers of State Excellence Awards. The directive, issued via a letter dated June 8, 2026, by Secretary to the President Dr. Callistus Mahama, emphasizes performance assessment based on manifesto commitments, policy targets, and measurable outcomes rather than external recognitions. A comprehensive review of ministers and CEOs is planned to inform retention, reassignment, or restructuring. Public officials are urged to focus on service delivery and results for Ghanaians. Read the full story here
Patients Stranded at KATH as Doctors and Nurses Protest CEO Suspension
Hundreds of patients have been left stranded at the Out-Patient Department of Komfo Anokye Teaching Hospital (KATH) in Kumasi as doctors and nurses refuse to attend new cases in protest against the two-week suspension of CEO Dr. Paa Kwesi Baidoo. The action stems from the Ministry of Health’s decision following the temporary closure of the Accident and Emergency Centre due to overcrowding. Health workers, backed by the Health Workers Union, argue the suspension was unjust as the decision was collective. The Ministry has appealed for staff to resume duties, warning of impacts on vulnerable patients, while investigations continue. Scenes of confusion and long waits have been reported at the facility. The standoff highlights ongoing operational pressures at Ghana’s major referral hospital, with calls for resolution to restore services. Read the full story here
Meet Edem Wosornu: Ghanaian Appointed UN Assistant High Commissioner for Protection
The United Nations Secretary-General António Guterres has appointed Ghanaian Edem Wosornu as Assistant High Commissioner for Protection at the UNHCR, succeeding Ruvendrini Menikdiwela of Sri Lanka. Currently Director of OCHA’s Crisis Response Division (appointed April 2023) and Chair of the Inter-Agency Standing Committee Emergency Directors Group, Wosornu brings over 21 years of humanitarian experience. She previously held leadership roles in OCHA’s Humanitarian Sector Division and worked with UNHCR and in private legal practice in London. She holds advanced legal qualifications from UK institutions and speaks English and French. Her appointment highlights Ghanaian expertise on the global stage in humanitarian affairs. Read the full story here
Fuel Tanker-Tipper Truck Crash Sparks Fatal Fire on Accra-Tema Motorway
A collision between a fuel tanker and a tipper truck on the Accra-Tema Motorway early on June 9, 2026, triggered a major fire outbreak. The Ghana National Fire Service confirmed the blaze has been fully extinguished, with recovery operations and investigations ongoing at the scene.
The incident was described as fatal, though specific casualty details were not immediately released. Emergency responders worked to contain the fire and secure the busy motorway. Authorities are investigating the cause as motorists and commuters expressed concerns over safety on the critical route. Read the full story here
Mahama to Assess Ministers Ahead of Possible Reshuffle
President John Dramani Mahama is set to conduct a comprehensive performance review of ministers and CEOs of state institutions, with findings to guide retention, reassignment, or Cabinet restructuring. This ties into a directive barring public officials from questionable private awards, urging focus on policy delivery and measurable results. The review aligns with the 2024 NDC Manifesto and government development agenda. The move signals emphasis on accountability and effective governance. Read the full story here
Cedi Weakens Further Amid Second Quarter FX Demand Pressures
The Ghana cedi has continued depreciating against major currencies due to rising foreign exchange demand and corporate repatriation needs. In the interbank market, it traded at GHS 11.85/USD (from GHS 11.63), with similar losses against the pound and euro. Retail rates also rose, reflecting broader pressures despite Bank of Ghana interventions. Analysts expect further strain from Q2 profit outflows, though a $1.2 billion monthly FX support is anticipated. Global factors like high oil prices contribute to the bearish outlook. Read the full story here
Unchecked Development Driving Recurring Accra Floods – Prof. Chris Gordon
Environmental scientist Prof. Chris Gordon has attributed recurring floods in areas like Oyarifa to buildings in natural waterways and drainage paths, destroying vegetation and creating impervious surfaces. He described the incidents as predictable outcomes of rapid, unchecked urban development replacing farmlands and forests. Stricter planning enforcement and land-use management are needed to mitigate risks. “You cannot cheat nature,” he emphasised, calling for science-based approaches to urban planning. Read the full story here
Ghana News
Today’s Newspaper Headlines: Tuesday, June 9, 2026
Tuesday, June 9, 2026. Stay informed with today’s front pages of Ghanaian newspapers, all in one place.
















Ghana News
‘Once You Have Life, There Is Hope’: Ghana Demands Compensation for Citizens Hit by South Africa Attacks
Ghana’s government has launched a formal push for compensation on behalf of citizens evacuated from South Africa following deadly xenophobic attacks, with Foreign Minister Samuel Okudzeto Ablakwa urging returnees to meticulously document every lost property, business, and asset.
Addressing the second batch of evacuees on arrival in Accra on Saturday, June 6, 2026, Ablakwa made clear that the West African nation’s response would not end with evacuation.
“We are not only concerned about evacuating you, but we are concerned about your full integration,” he said. “The government of Ghana has decided that we are not going to sit back without any effort in attempting to secure compensation for those of you who have lost your properties, lost your assets, lost your businesses and your shops.”
The minister directed the Ministry of Foreign Affairs to begin assembling documentation and evidence to support a legal compensation case. He urged returnees to provide ownership documents, addresses, and any supporting records that could strengthen Ghana’s claim.
“Please make sure that you provide all the information that we require,” he said, noting that forms were already being circulated.
Ablakwa disclosed that President John Dramani Mahama had instructed him to petition the African Union over the matter and raise it at the next AU ministerial meeting.
“President Mahama is going to make a very strong case for you so that you will be compensated and justice will be done,” he stated.
While acknowledging the heavy losses suffered by some evacuees who had spent decades building businesses in South Africa, Ablakwa struck a tone of resilience:
“Yes, you have lost property, you have lost assets, you have left your businesses behind… but nothing comes anywhere near life. Once you have life, there is hope.”
Ghana acted swiftly to evacuate its citizens before the situation worsened, the minister said, adding that several other African countries had reported fatalities among their nationals during the unrest. Ghana’s evacuation strategy has since drawn interest from multiple African governments, with foreign ministers contacting Accra to learn from its operation.
Beyond compensation, Ablakwa announced that nearly 200 jobs had already been secured for returning Ghanaians through a government initiative involving local businesses. Companies including Engineers and Planners, AirtelTigo, and Telecel have responded positively, he said, with additional employers continuing to offer vacancies.
Reassuring evacuees of continued government support for reintegration, Ablakwa emphasized their value to Ghana’s economy, pointing to remittances from Ghanaians abroad, which reached a record US$7.8 billion last year, according to Bank of Ghana data.
“We value you because you have always contributed to this economy,” he said.
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