Business
Mahama Targets $1bn Ghana–Singapore Trade, Unveils Bold Investor Reforms

President John Dramani Mahama has set an ambitious target of boosting Ghana–Singapore trade to US$1 billion, following a sharp rise in bilateral trade which exceeded US$215 million in 2024.
Speaking at the 8th Africa–Singapore Business Forum in Singapore on Tuesday, August 26, 2025, President Mahama said the growth highlighted Ghana’s readiness to deepen its commercial ties with the Asian nation.
He noted that despite global economic uncertainty, overall trade between Africa and Singapore grew by 50 per cent from 2020 to 2024, reaching nearly US$14 billion. Ghana, he stressed, must now “put its readiness to the test” by positioning itself as Singapore’s most reliable partner in West Africa.
To reach the billion-dollar milestone, the President announced a series of reforms and initiatives aimed at attracting investors. These include:
A review of the Investment Promotion Act to remove minimum capital thresholds for foreign investors.
The creation of a one-stop investor concierge to speed up decision-making.
The rollout of Ghana’s 24-Hour Economy strategy, anchored on the Volta Economic Corridor, which focuses on productivity, exports, and job creation.
The 24-Hour Economy rests on four pillars: irrigating two million hectares of farmland, establishing agro-industrial parks, expanding tourism along Lake Volta, and transforming the lake into a cost-effective inland transport hub.
Other flagship projects include the Legon Pharmaceutical Innovation Park, the creation of a Carbon Markets Office and Ghana Carbon Registry, and expanded support for clean energy, advanced manufacturing, and value addition to critical minerals.
President Mahama urged Singaporean and African businesses to expand partnerships in logistics, agribusiness, digital finance, and green supply chains, stressing that such cooperation would create jobs, diversify supply chains, and drive inclusive prosperity.
“Ghana is open for business 24 hours a day. With the right partnerships, we can deliver a pipeline of investable projects that meet the needs of our people and global investors,” he declared.
Business
NEIP and MoFA Partner to Boost Poultry Agribusiness Under Adwumawura Programme

The National Entrepreneurship and Innovation Programme (NEIP) has signed a Memorandum of Understanding (MoU) with the Ministry of Food and Agriculture (MoFA) to scale up support for agricultural entrepreneurs through the Adwumawura Programme.
The partnership seeks to strengthen Ghana’s agribusiness sector by combining MoFA’s technical expertise with NEIP’s entrepreneurship training initiatives.
As part of the agreement, MoFA will provide high-quality poultry feed and deliver technical and field support to programme beneficiaries. NEIP, on the other hand, will equip entrepreneurs with practical business training and essential resources, including hen coops, to help them establish and expand their poultry ventures.
At the signing ceremony, officials from both institutions emphasized that the collaboration is tailored to empower small-scale poultry farmers, especially “nkoko nketenkete” entrepreneurs, to create jobs, grow agribusinesses, and contribute to sustainable economic development.
The initiative falls under NEIP’s broader Reset Agenda, which is focused on driving innovation, supporting small enterprises, and positioning agriculture as a central pillar of Ghana’s economic transformation.
Business
Commercial Transport Operators Threaten Strike Over Soaring Spare Parts Prices

Commercial Transport Operators have issued a stern warning to government, demanding immediate action to reduce the high cost of spare parts or risk facing major disruptions in the transport sector.
In a statement dated September 9, 2025, the operators said they felt “compelled” to call on the Ministry of Transport, Ministry of Trade and Industry, Ministry of Finance, and the Parliamentary Select Committees on Trade, Industry, and Transport to swiftly intervene.
They recalled that in March 2025, during engagements with spare parts dealers and government officials, a promise was made to bring down spare parts prices, but nothing had been done since.
“Unfortunately, this promise has not been fulfilled, and the prices remain exorbitant,” the operators lamented.
The statement further warned: “If immediate action is not taken, we fear that the situation will escalate, and we may be forced to take drastic measures that could disrupt transportation services. We cannot continue to operate under these unsustainable conditions.”
They urged the relevant ministries and parliamentary committees to ensure that spare parts dealers adhere to their commitments, stressing that the survival of the transport industry—and by extension, the economy—depends on swift action.
“Failure to address this pressing issue will have severe consequences for our industry and the economy as a whole,” the statement concluded.
Business
GoldBod Unveils Bold Reforms to Transform Ghana’s Mining Sector

The Chief Executive Officer of the Ghana Gold Board (GoldBod), Mr. Sammy Gyamfi, has announced sweeping reforms and strategic initiatives to position Ghana’s mining sector as a globally competitive and sustainable industry.
Speaking at the maiden edition of the Mining and Minerals Convention at the Kempinski Gold Coast Hotel, Mr. Gyamfi said the GoldBod was driving a paradigm shift from raw mineral extraction to value retention, with the goal of maximising national benefit from Ghana’s mineral wealth.
Between January and August 2025, small-scale gold exports facilitated by GoldBod reached a record 66.7 tonnes valued at $6 billion, surpassing the entire 2024 figure of 63 tonnes worth $4.6 billion. For the first time, small-scale gold exports outperformed large-scale mining exports over the same period.
Key reforms announced include:
Aggressive licensing reforms to promote responsible sourcing.
Scrapping of the 1.5% withholding tax on unprocessed small-scale gold.
Introduction of a nationwide traceability system to ensure transparency and compliance.
Partnerships requiring large-scale miners to supply 20% of their output to the Bank of Ghana for reserve accumulation.
To combat illegal mining, the GoldBod has pledged ₵5 million and five Toyota Hilux pickups to enforcement agencies, alongside a program to reclaim 1,000 hectares of degraded forest reserves beginning November 2025.
On value addition, Mr. Gyamfi announced plans for a state-owned gold refinery and an ISO-certified Assay Laboratory at Kotoka International Airport. Discussions are also underway to establish a “Gold Village” as a continental hub for jewellery production.
Calling for stronger investment, he urged local banks, pension funds, and financiers to channel resources into mining, stressing Africa’s need to transition from raw exports to beneficiation, from middlemen to tech-driven trade, and from youth as labourers to youth as innovators and owners.
“Ghana is resetting and Africa is rising. The GoldBod is ready. All we need now is courage and capital. Let us fund the minerals and mining sector differently. Let us transform it together,” Mr. Gyamfi concluded.
-
Entertainment2 weeks ago
Mrs. Susan Abena Preko Dankwa Resigns as Human Resources Manager of Top Media Group
-
General News1 week ago
Mahama Unveils Policy to End $15m Annual Rent for Ghana’s Missions Abroad
-
Entertainment2 weeks ago
[EDITORIAL] How Shatta Wale Redefined the Value of Artistes Performance Fees
-
Technology2 weeks ago
GCB Bank Proposes Direct Payment Framework for Ghanaian TikTok Creators
-
Entertainment2 weeks ago
Raf Able sets the tone for Gratitude with Artwork Release for his Forthcoming Single ‘MEDAWASE’
-
Politics2 weeks ago
Chief Justice has Lost Everything” – Yaw Anokye Frimpong Laments Pension Wipeout
-
Sports2 weeks ago
Thomas Partey to Face Court on Rape Charges After Villarreal’s Champions League Clash With Tottenham
-
General News2 weeks ago
IGP Hails Peaceful Akwatia By-Election as Model for Ghana’s Future Polls