Ghana Business News Today, 14th August 2025: Economic Outlook, Palm Oil Strategy & Trade Debates
As of Thursday, August 14, 2025, Ghana’s economic landscape is characterized by a blend of promising growth signals, strategic industrial debates, and evolving international trade dynamics. Key developments include a stronger-than-expected start to the year, a critical look at the nation’s ambitious palm oil strategy, and new policy updates from international partners. Here is a roundup of key economic and financial news for Ghana.
Economic Outlook: Strong Q1 Growth Amidst Fiscal Prudence
Recent analysis from the World Bank and IC Research paints a picture of a resilient Ghanaian economy navigating fiscal challenges. While the overall growth projection for 2025 is a moderate 4.3% due to fiscal adjustments and inflation, the economy showed surprising strength in the first quarter.
- Impressive Q1 Performance: Ghana’s economy grew by 5.3% year-on-year in Q1 2025, surpassing the 4.9% recorded in the same period in 2024. This performance has raised optimism that full-year growth could exceed initial forecasts.
- Non-Oil Sector Leads: The non-oil sector was a primary driver, expanding by a robust 6.8% in Q1. Key contributors included ICT, Finance and Insurance, and a notable 6.6% growth in the Agriculture sector, which has helped temper food inflation.
- Investor Confidence: Finance Minister Dr. Cassiel Ato Forson highlighted growing investor confidence following a high-level meeting in Washington, D.C. Factors cited include a stable cedi, strong international reserves (covering four months of imports), and strong domestic revenue performance by the Ghana Revenue Authority (GRA).
- Challenges Ahead: Despite the positive momentum, the World Bank warns of risks. These include the need for continued fiscal discipline to stay on track with the IMF program, managing high financing needs, and addressing potential liabilities from state-owned enterprises. Rising poverty levels remain a concern, with projections indicating a potential increase if inflation persists.
Industry Focus: The $2 Billion Palm Oil Dilemma
A major topic in Ghana’s business circles this week is the nation’s strategy to reduce its US$2 billion annual palm oil import bill. While the government aims to boost local production, industry leaders are urging a cautious and strategic approach.
Key Concerns and Recommendations:
Anthony Morrison, CEO of the Chamber of Agribusiness Ghana, warns that simply expanding farmland is insufficient. Ghana currently produces only 50,000 metric tons of palm oil annually while consuming around 250,000 tons.
- Need for Research: Success hinges on research into high-yield, disease-resistant palm varieties suitable for Ghana’s climate.
- Market Strategy: A clear strategy is needed to define the target market—whether for local industrial use (cosmetics, pharmaceuticals), household consumption, or export.
- Innovation & Sustainability: Ghana must learn from the environmental challenges faced by major producers like Malaysia by integrating sustainable practices and investing in efficient processing technology from the outset.
Bridging the Research-to-Market Gap
Echoing the concerns in the palm oil sector, experts warn that a persistent gap between research institutions and industry is stifling Africa’s trade growth. Derrydean Dadzie of Heritors Labs Limited stated that an estimated 90% of Africa’s SMEs operate outside the research and innovation ecosystem. Experts at a recent webinar called for:
- Targeted Funding: Providing capital for SMEs to acquire and commercialize innovations developed in research labs.
- Policy Implementation: Moving beyond existing policy frameworks to ensure practical, cross-border collaboration and intellectual property sharing.
- Co-creation Hubs: Establishing laboratories that facilitate co-creation between researchers and businesses to accelerate commercialization.
International Trade and Financial Integrity
US Adjusts Reciprocal Tariff Rates
A recent Executive Order from the White House has modified reciprocal tariff rates for numerous trading partners. Under these adjustments, imports from Ghana are now subject to an additional ad valorem rate of 15%.
Ghanaian Nationals Extradited in $100M+ Fraud Case
In a significant development highlighting international cooperation against financial crime, three Ghanaian nationals have been extradited to the U.S. for their alleged roles in a criminal organization. The enterprise is accused of stealing over $100 million through romance scams and business email compromises. U.S. Attorney Jay Clayton stated the action demonstrates that authorities will work globally to combat online fraud and bring perpetrators to justice.
Market and Corporate Updates
Ghana Stock Exchange (GSE) Performance
The Ghana Stock Exchange (GSE) has shown significant gains year-to-date. As of August 13, 2025, the market’s performance was as follows:
| Index | Change (Points) | Year-to-Date Change (Jan 2 – Aug 13, 2025) |
|---|---|---|
| GSE Composite Index (GSE-CI) | +31.35 | +52.26% |
| GSE Financial Stock Index (GSE-FSI) | -0.38 | +43.41% |
Recent press releases from the GSE include resolutions from Access Bank PLC’s AGM and an announcement from Asante Gold Corporation regarding a C$237M equity offering.
BNA Assurances Lists on Tunis Stock Exchange Today
In pan-African financial news, BNA Assurances, a subsidiary of Banque Nationale Agricole, makes its debut on the main market of the Tunis Stock Exchange today, August 14, 2025. The listing, set at a price of TND 3.480 per share, aims to increase the stock’s visibility and liquidity and marks a significant step in diversifying the Tunisian equity market.
Ministry of Finance Inaugurates Key Boards
The Deputy Minister for Finance, Hon. Thomas Nyarko-Ampem, has been active in strengthening governance in the financial sector, recently inaugurating new governing boards for:
- Venture Capital Trust Fund (VCTF)
- Ghana Incentive-Based Risk-Sharing System for Agricultural Lending (GIRSAL)
- Ghana Amalgamated Trust PLC (GAT)
Business Opportunities & Events
A summary of events and opportunities relevant to the business community concludes this snapshot of the current business landscape in Ghana as of mid-August 2025.
- World Bank Solicitation: A consultancy opportunity to “Assess API Standards & Data Sharing; Cloud Computing; and Embedded Finance” closes today, August 14, 2025.
- Executive Leadership Council (ELC): The “Summer Executive Workshop: Black Economic Forum” concludes today, August 14, 2025, in Martha’s Vineyard, MA, focused on building an inclusive pipeline for Black executives.
- Community College of Philadelphia: An online “Business – Accelerated Program Information Session” is being held today, August 14, 2025.
