business news

Ghana’s Interior Ministry tops government performance index as Trade Ministry ranks last

A new assessment of 23 government ministries in Ghana has ranked the Ministry of the Interior first for institutional performance, while the Ministry of Trade, Agribusiness and Industry placed last, highlighting concerns over public service delivery, workforce efficiency and financial management. Interior Ministry leads the rankings The Ministry of the Interior emerged as the strongest performer, scoring 80.26%.

The chancellor’s pet PuFins have an important role – but they need more scrutiny

An Office for Budgetary Responsibility for public financial institutions like the National Wealth Fund and the British Business Bank is starting to look essential Two winners in the budget are known already. They are the National Wealth Fund (NWF) and the British Business Bank (BBB), state-funded investment bodies that have rapidly become central to the government’s growth strategy.

Ruto heads to Russia to pursue new markets, investment for Kenya

NAIROBI, Kenya, Oct 27— President William Ruto is heading to Moscow, Russia, to pursue expanded markets for Kenyan exports, attract investment and secure partnerships in manufacturing, agriculture and technology as Kenya seeks to diversify its international economic ties. “As the AU champion on the African Continental Free Trade Area, the President will seek greater market access for African tea, coffee, cut flowers, fresh produce and value-added products,” State House Spokesperson Hussein Mohamed said in a statement issued Tuesday.

Proposed gas pipeline will cut costs, boost South-East economy — Tinubu

By Chinedu Adonu ENUGU – President Bola Tinubu has said the proposed South-East Gas Distribution Pipeline Project will reduce energy costs, boost industrialisation and create jobs across the five states of the region. Tinubu, represented by Deputy Speaker of the House of Representatives, Benjamin Kalu, spoke yesterday at the South-East Gas Infrastructure Investment and Project Development Ceremony in Enugu.

Same Tax, Collected When You Pay: Bringing fairness to VAT on foreign digital services

VAT on digital services sold to Ghanaians by companies based abroad has been part of Ghana’s VAT law since 2022, following the amendment of the Value Added Tax Act, 2013 (Act 870) by the Value Added Tax (Amendment) Act, 2022 (Act 1082), and the Authority has been collecting it since then. Until now, the Authority has relied largely on the foreign companies themselves to declare their sales in Ghana and pass the VAT on to us.

VIDEO: Sanwo-Olu surprises wife, Ibijoke with flowers, shares kiss

Lagos State Governor, Babajide Sanwo-Olu, on Tuesday surprised his wife, Ibijoke, with flowers and a kiss at the 26th COWLSO National Women’s Conference.

GTCO posts 12% drop in nine-month profit amid soaring costs

The financial services group posted an improvement in interest income, its major source of revenue, but faced increased pressure from interest expense, which jumped 27.7 per cent year on year.

PenCom urges SMEs to remit workers’ pensions, plan for retirement

He said many business owners devoted their most productive years to building their enterprises, reinvesting earnings and supporting their families but paid little attention to their own retirement.

SC says ‘economic policy’ cannot take precedence over lives as Centre backs ‘calibrated’ drug-price controls

Petitioners flag disproportionate margins and seek stricter enforcement of price controls; Centre says ‘complete govt. control‘ of pharma sector will adversely affect the market

Indonesia seeks deeper Kenya trade ties as bilateral trade hits $690m

Indonesia seeks deeper Kenya trade ties as bilateral trade hits $690m. NAIROBI, Kenya, Oct 27— Indonesia is seeking to expand its $690 million trade relationship with Kenya through new investments in healthcare, manufacturing and industrial development, with both countries identifying pharmaceutical cooperation as a key area for deeper economic ties. Duale also highlighted regulatory cooperation between Kenya’s Pharmacy and Poisons Board and Indonesia’s National Agency of Drug and Food Control, saying it would support access to quality generic medicines by combining Indonesian pharmaceutical…

As rice prices spike, traders warned against creating artificial shortage

FarmYield and GIZ launch agricultural project to empower over 200 women and youth in Northern Ghana

Now, FarmYield Ghana and GIZ are expanding their collaboration through a new initiative that will train another 40 women in tractor operation and provide agricultural production and business development opportunities to more than 160 young people and farmers in northern Ghana. Speaking at the signing ceremony, Board Chairman of FarmYield Ghana, Yaw Agyare, said the initiative was designed to ensure that beneficiaries acquired not only practical skills but also opportunities to translate those skills into sustainable livelihoods.

The Siren No One Hears: How traffic stole 20minutes of firefighters’ time in Tamale

The incident highlights a major challenge facing the Ghana National Fire Service (GNFS) in Tamale and other emergency services, including the National Ambulance Service. Yet, on the roads around Dohinaa Yili, Kalpohin, Lamashegu and Sagnarigu, enforcement appears inadequate.

Bayelsa suspends oil firm’s land acquisition over fatal community dispute

The affected company, Nembe Exploration and Production Company Ltd, was formerly known as Aiteo Exploration and Production Company Ltd, an indigenous oil firm which acquired the OML 29, following Shell’s divestment in 2014.

Hyatt to add 600 new rooms in Bengaluru’s hospitality market

Average building cost increases by 5.1% in September 2026 -GSS

At the group level, the Labour group inflation rate recorded a year-on-year inflation rate of -3.2 percent in September 2026 down from -2.9 in August 2026. The Material group recorded a year-on-year inflation rate of 6.5 percent in September 2026 up from 5.8 percent in August 2026 while the Plant group recorded a year-on-year inflation rate of 19.1 percent up from 17.9 percent in August 2026.

Gold Fields’ US$4.26bn local spend puts mining value retention in focus

Gold Fields Ghana Limited has spent US$4.26 billion on goods and services over five years, including US$2.59 billion in its host communities, putting the spotlight on how mining procurement can translate into lasting economic opportunities for local businesses. It also engaged Genser Energy, a Ghanaian-founded and controlled business, as an independent power producer to supply electricity to its Tarkwa and Damang mines.

Building inflation increases to 5.1% in September 2026, but cement inflation stood at -6.1%

The year-on-year inflation rate of the Prime Building Cost Index (PBCI) was 5.1% in September 2026, up from 4.6% in August 2026. The Material group recorded a year-on-year inflation rate of 6.5% in September 2026, up from 5.8% in August 2026, while the Plant group recorded a year-on-year inflation rate of 19.1%, up from 17.9% in August 2026.

Minerals Commission defends termination of Northern Ashanti Mines’ licences over $8.38m debt

The Minerals Commission has defended its decision to terminate the mining leases and prospecting licences of Northern Ashanti Mines Limited, formerly Ower Mines, citing more than US$8.38 million in unpaid fees and alleged breaches of the Minerals and Mining Act, 2006 (Act 703). The Commission said Northern Ashanti Mines acquired a mining lease covering 595 cadastral blocks in January 2010.

Tata Power in MoU with BPCL to develop 110 kV power infra at Mumbai refinery project

The project will meet the 90 MW power requirement of BPCL's Petro Resid Fluidised Catalytic Cracking Unit (PRFCCU) project at its Mumbai refinery, Tata Power said in a statement

Agriculture recovery in 2025 was encouraging but uneven, industrial slowdown highlights broader development – ISSER

In its 2025 State of the Ghana Economy Report (SGER), ISSER said expanding effective irrigation, mechanisation and extension services, with greater attention to crop yields will raise agricultural productivity. Industry Sector On the Industry sector, ISSER said Ghana’s industrial slowdown in 2025 highlights the need to translate mineral sector strength into broader industrial development, supported by competitive manufacturing and greater domestic value addition.

Fallen 33kV power line sparks fire, destroys buildings in Kwara

A fallen 33kV electricity line triggered a fire that damaged homes and businesses in Ilorin, destroyed a vehicle and came a day after another fire in the city.

“Advertising Brings a Player Once, Actually Paying Winners Brings Them Back” — Helabet Representative Says

In this interview with Yusuf Lawal, Helabet representative Olajay discusses how the company is handling the regulatory chaos, shares a few internal user-growth figures, outlines plans for advertising strategy changes, and even explores the possibility of sponsoring a Nigerian football club. It brings a player to Helabet once.

Mercedes-Benz cuts 2026 profit outlook on tough China market

German carmaker Mercedes-Benz has cut its 2026 profit outlook, citing tough market conditions in China, higher material costs, and falling sales.