The virtual asset bill was signed into law by President Mahama on December 30, 2025

The Bank of Ghana (BoG), in collaboration with the Securities and Exchange Commission (SEC) Ghana and the Financial Intelligence Centre (FIC), has held a joint Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) sensitisation workshop for Virtual Asset Service Providers (VASPs).

According to a statement released by the Bank of Ghana, the workshop, held on December 22, 2025, forms part of efforts to ensure the effective implementation of Ghana’s newly enacted Virtual Asset Service Provider (VASP) Act.

The engagement brought together more than 90 participants from the virtual asset ecosystem and focused on strengthening AML/CFT compliance across the sector.

“It featured discussions on Ghana’s AML/CFT legal and regulatory frameworks, including the AML Act, 2020 (Act 1044), the AML/CFT Guidelines (2022), and the VASP Act. Emphasis was placed on the designation of VASPs as Accountable Institutions under the AML/CFT Guidelines (2022) and the attendant compliance obligations,” the statement read.

Virtual Asset Service Providers bill signed into law to regulate crypto in Ghana

Participants were also taken through key provisions of the VASP Act, including proposed licensing and registration requirements and transitional arrangements for existing operators.

“Virtual asset services without the requisite licence or registration after the transitional period will attract stringent sanctions in accordance with the law,” participants were warned, according to the statement.

The initiative underscores a coordinated regulatory approach by the BoG, SEC and FIC to promote market stability and protect investors, with the authorities reaffirming that implementation of the VASP Act will remain a major focus of Ghana’s financial regulatory agenda in 2026.

ID/AE

Introduction: A Defining Moment for Ghana’s Business Economy

Ghana’s business environment in 2026 represents a turning point in the country’s economic evolution. Across corporate boardrooms, startup hubs, SME clusters, and regional trade corridors, Ghanaian enterprises are repositioning themselves for scale, resilience, and long-term competitiveness. This transformation is not driven by a single sector or policy, but by the convergence of five powerful forces: strong domestic corporations, fast-growing startups, profit-focused SMEs, regional expansion into West Africa, and an accelerating wave of mergers and acquisitions.

Together, these forces are reshaping how business is done in Ghana — from capital formation and innovation to employment creation and regional integration. This editorial by Accra Business News brings these five themes into one cohesive narrative, offering a clear picture of Ghana’s modern business economy and its direction.

Ghanaian Corporations Setting the Pace

Large Ghanaian corporations remain the anchors of the national economy. In 2026, companies operating in finance, telecommunications, energy, logistics, manufacturing, healthcare, and consumer goods are making headlines for expansion, restructuring, digital investment, and market leadership.

Banks and financial institutions continue to deepen financial inclusion through digital banking, SME lending, and improved risk management. Telecoms and technology firms are expanding data infrastructure and digital services, enabling e-commerce, mobile payments, and enterprise solutions. Energy companies are investing in efficiency and renewable alternatives, aligning commercial goals with sustainability priorities.

These corporations are not only profit-driven entities; they are system builders. Their scale allows them to influence supply chains, employment, regulation, and investor confidence. In many ways, they form the backbone upon which startups and SMEs build.

Startups Driving Innovation and Market Disruption

Alongside established corporations, Ghana’s startup ecosystem has matured into a significant economic force. In 2026, startups in fintech, agritech, logistics, clean energy, health-tech, and software services are gaining traction, funding, and visibility.

These startups are solving real problems — access to finance, inefficient logistics, post-harvest losses, healthcare affordability, and data-driven business management. What distinguishes Ghana’s startup wave is its strong focus on practical solutions rather than abstract innovation. Products are designed for mass adoption, affordability, and scalability across African markets.

Startups are also influencing how traditional businesses operate. Banks partner with fintechs, agribusinesses integrate digital platforms, and logistics startups support e-commerce growth. This interaction between startups and corporates is accelerating innovation across the entire economy.

SMEs Scaling Profitably and Sustainably

Small and Medium Enterprises remain the most important contributors to employment and grassroots economic activity in Ghana. In 2026, the most successful SMEs are not necessarily the biggest — they are the most disciplined, adaptive, and strategically focused.

Profitably scaling SMEs share common traits:

• Strong financial management and cost control
• Digital adoption across sales, payments, and operations
• Customer-centric product and service design
• Strategic partnerships and supplier relationships
• Gradual, data-driven expansion rather than uncontrolled growth

From agribusiness processors and manufacturers to retail brands and professional service firms, SMEs are learning to grow without sacrificing margins. Their success demonstrates that scale in Ghana does not require excessive leverage, but clarity of purpose and operational efficiency.

These SMEs also form critical supply and distribution links for both large corporations and startups, making them essential to the overall business ecosystem.

Ghanaian Businesses Expanding Across West Africa

One of the most significant trends shaping Ghana’s business future is regional expansion. Ghanaian companies are increasingly entering markets across West Africa, leveraging shared trade frameworks, cultural familiarity, and rising regional demand.

Expansion into ECOWAS markets allows Ghanaian firms to:

• Diversify revenue sources
• Reduce reliance on a single domestic market
• Achieve scale more rapidly
• Compete effectively with multinational firms

Sectors leading regional expansion include renewable energy, healthcare, logistics, professional services, manufacturing, and digital services. These businesses are not only exporting products but exporting operating models, managerial expertise, and Ghanaian business culture.

Regional expansion strengthens Ghana’s position as a commercial gateway and reinforces its role in continental trade under frameworks such as AfCFTA.

Mergers and Acquisitions Reshaping Corporate Ghana

Mergers and acquisitions have become a strategic tool for growth, consolidation, and survival in Ghana’s competitive environment. In 2026, M&A activity reflects deeper structural changes in the economy.

Companies pursue M&A to:

• Achieve economies of scale
• Strengthen balance sheets
• Acquire technology and talent
• Enter new markets quickly
• Comply with regulatory and capital requirements

Financial services, telecoms, energy, healthcare, manufacturing, and technology are among the most active sectors. While some deals involve foreign investors, many are driven by local and regional players seeking long-term strategic advantage.

M&A activity signals maturity in Ghana’s corporate sector. It reflects a shift from fragmented competition to structured growth and consolidation — essential for building globally competitive enterprises.

How These Five Forces Interconnect

These five themes — corporations, startups, SMEs, regional expansion, and M&A — do not operate in isolation. They reinforce one another:

• Startups supply innovation to corporates and SMEs
• Corporations provide markets, capital, and infrastructure
• SMEs anchor supply chains and employment
• Regional expansion creates scale opportunities
• M&A aligns resources and accelerates growth

Together, they form a dynamic business ecosystem capable of withstanding shocks and capturing new opportunities.

Implications for Ghana’s Economy

The combined impact of these trends is profound:

• Job creation across formal and informal sectors
• Increased productivity through technology adoption
• Higher investment confidence from local and foreign investors
• Improved regional competitiveness
• Greater economic resilience through diversification

Ghana’s economy in 2026 is less dependent on a single sector and more driven by private-sector innovation and enterprise.

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Challenges That Remain

Despite progress, challenges persist:

• Access to affordable long-term financing
• Infrastructure gaps
• Regulatory complexity
• Currency volatility
• Skills development needs

However, the growing sophistication of Ghanaian businesses suggests an increasing ability to adapt and innovate around these constraints.

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Ghana’s Business Future Is Being Built Now

Ghana’s business transformation in 2026 is not theoretical — it is happening in real time. Corporations are scaling, startups are innovating, SMEs are growing profitably, businesses are expanding regionally, and mergers and acquisitions are reshaping markets.

For Modern Ghana readers, this moment represents more than headlines. It reflects a country building an economy driven by enterprise, strategy, and regional relevance. The foundations being laid today will determine Ghana’s competitiveness for decades to come.

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Source Used: Accra Business News

The Tema Regional Police Command has foiled an attempted armed robbery operation at Afienya-Mataheko following an intelligence-led operation that resulted in a fierce exchange of gunfire, leaving four suspected members of a notorious robbery gang dead.

According to the Police, the incident occurred in the early hours of Monday, December 29, 2025, at about 1:00 a.m., when officers on surveillance intercepted four suspected armed robbers attempting to force entry into a residential property at Afienya-Mataheko.

Briefing the media in Tema yesterday , the Head of Public Affairs for the Tema Regional Police Command, Assistant Superintendent of Police (ASP) Dede Dzakpasu, said the operation followed credible intelligence received on Friday, December 27, 2025, by the Police Intelligence Directorate (PID), indicating that a group of ex-convicts was planning a series of armed robbery attacks within the Tema Metropolis and its environs.

She explained that police personnel were promptly deployed to strategic locations and placed on surveillance, leading to the interception of the suspects two days later.

“Upon sighting the suspects attempting to gain entry into a residence, police officers moved in, but were met with intense gunfire from the gang members, leading to an exchange of fire,” ASP Dzakpasu said.

During the encounter, four suspects sustained gunshot wounds. Three of them — identified as Kwabena Azuwebi, also known as Lastman, Yaro Bawku, and Faisal — were rushed to the Police Hospital but were pronounced dead on arrival.

A fourth suspect, Kassim Hussein, who initially escaped despite sustaining gunshot wounds, was later re-arrested after police intelligence operations led officers to his hideout.

ASP Dede said Kassim Hussein, during interrogation, disclosed details about the gang’s operations and identified other members of the criminal network.

He was also taken to the hospital for medical treatment but later died while receiving care.

Exhibits recovered from the scene included one AK-47 rifle, one Taurus pistol loaded with six rounds of ammunition, two cutlasses, and two Royal motorbikes — one unregistered and the other bearing registration number M-25-GT-4243 — which were allegedly used by the suspects. All items have been retained for evidential purposes as investigations continue.

The bodies of the deceased suspects have since been deposited at the Police Hospital Mortuary, pending autopsy.

ASP Dzakpasu noted that all four deceased suspects were on the Police wanted list and had been linked to several armed robbery cases within the Tema Region.

She recalled that Kwabena Azuwebi alias Lastman had recently been granted court bail after spending a lengthy period on remand in connection with a robbery case.

Investigations are ongoing to identify and arrest other accomplices, as well as to establish possible links between the suspects and other criminal gangs operating in the region.

FROM KEN AFEDZI, TEMA

Ghana has taken a decisive step to regulate its rapidly expanding digital asset market following President John Dramani Mahama’s signing of the Virtual Asset Service Providers (VASP) Bill into law.

The legislation comes against the backdrop of explosive growth in cryptocurrency usage in the country. As of November 2025, Ghana recorded more than US$10 billion in crypto transactions, up from approximately US$6 billion in 2024, according to official figures. Authorities say the scale of activity made regulation unavoidable.

The new law brings transparency and accountability to a sector that has grown largely outside formal oversight. It introduces mandatory licensing and supervision for all virtual asset service providers, aiming to protect consumers, curb fraud and money-laundering risks, and integrate digital assets into the formal financial system.

Responsibility for regulation will be shared between the Bank of Ghana and the Securities and Exchange Commission. The BoG will supervise payment-related services and stablecoins, while the SEC will regulate exchanges, custodial wallets, token issuances and other investment-focused activities.

The VASP Act received bipartisan support in Parliament and backing from the Presidency, the Ministry of Finance, the Bank of Ghana, the SEC and industry players. Market operators have welcomed the law, saying regulatory clarity will help attract institutional investors and responsible innovation.

With the law now in force, virtual asset service providers operating in Ghana are expected to prepare for compliance, including meeting licensing, capital, solvency and reporting requirements once detailed rules are issued in 2026.

Ghana’s move aligns it with other African economies such as Kenya and Nigeria that have introduced clearer crypto regulations as part of broader efforts to modernise financial systems and expand financial inclusion. Regulators believe the framework will boost investor confidence and strengthen Ghana’s ambition to become a regional hub for regulated digital asset services.

By Edward Dankwah

Accra, Jan. 01, GNA – Mr Ahmed Ibrahim, the Minister for Local Government, Chieftaincy and Religious Affairs, has urged Ghanaians to embrace 2026 with a renewed purpose, unity, and commitment to national development. 

In a statement issued and copied to the Ghana News Agency, Mr. Ibrahim extended warm greetings to traditional authorities, religious leaders, stakeholders in the local governance sector and the public, describing the New Year as an opportunity for rebirth and collective progress. 

Reflecting on the just-ended Christmas season, the Minister said the birth of Jesus Christ symbolised hope, restoration and a new beginning for humanity. 

He noted that values were critical as Ghana stepped into 2026. 

“The true value of the season lies in the grace we carry forward, a grace that inspires us to approach 2026 with a sense of rebirth and renewed purpose,” he said. 

Mr. Ibrahim said the message of the Nativity aligned strongly with government’s “Reset Agenda,” which he described as a commitment to accountability, fiscal discipline and a fresh start for the nation. 

He emphasised the central role of traditional authorities, religious leaders and local communities in national development, stressing that their partnership with government was essential for building a peaceful, equitable and prosperous society. 

The Minister said the Ministry remained committed to ensuring that the benefits of national renewal were felt in every district and traditional area across the country. 

“By aligning our governance goals with the enduring values of peace and humility inherited from the season, we can achieve a more equitable and prosperous society,” he added. 

Mr. Ibrahim called on Ghanaians to enter the New Year with optimism and shared responsibility, expressing confidence that the nation’s best days lie ahead. 

He wished all citizens a peaceful and productive New Year, and appealed for collective effort in resetting Ghana for the benefit of all. 

GNA 

Edited by Linda Asante Agyei 

Former Vice President and New Patriotic Party (NPP) flagbearer hopeful Dr Mahamudu Bawumia has appealed to party members to prioritise Ghana’s national interest above internal disagreements as the party prepares to elect its flagbearer for the 2028 general elections.

In a New Year message addressed to members of the governing party, Dr Bawumia stressed that the ultimate objective of the NPP must be victory in 2028, arguing that the stakes go beyond individual ambition and internal competition. He urged supporters to remain focused despite what he described as distractions, rumours and perceived divisions within the party.

“To every NPP member listening to me, let us keep our eyes fixed on the prize. We must win 2028 for the sake of Ghana,” he said

The former Vice President cautioned that allowing internal tensions to escalate could weaken the party’s chances of regaining power, noting that disunity only serves the interests of political opponents. He therefore called on party members to consciously set aside actions and rhetoric that could further fracture the NPP.

Dr Bawumia also emphasised that the ongoing flagbearership contest should be driven by ideas, vision and policy direction rather than personal attacks, warning that negative campaigning within the party provides ammunition to opponents ahead of the 2028 polls.

According to him, a disciplined and issue-based contest would not only strengthen internal cohesion but also enhance the party’s appeal to the Ghanaian electorate as it positions itself for a return to government.

“We should not be distracted by the storms around us, the rumours, and the perceived divisions. Let us set aside anything that has the potential to divide our party further. Let us set aside anything that has the potential to divide our party even further. This flagbearership contest should only be about ideas and vision, and not personal attacks on any of us. We only provide ammunition to our opponents if we engage in such anti-party acts” he added

The NPP is expected to elect its flagbearer on January 31, a process that will mark the formal start of the party’s preparations for the 2028 general elections, following recent constitutional reforms aimed at broadening participation in the selection process.

Consumers face higher utility bills as new water and electricity tariffs take effect. Ghanaians have started the New Year facing increased utility bills after the Public Utilities Regulatory Commission (PURC) introduced new electricity and water tariffs from January 1, 2026.

Under the new rates, electricity tariffs have gone up by 9.86 per cent, while water tariffs have increased by 15.92 per cent. The adjustments follow the completion of the PURC’s 2026–2030 Multi-Year Tariff Review (MYTO).

The Commission said the new tariffs apply to the first quarter of 2026 and form part of a framework that allows for quarterly reviews throughout the year.

The increases come at a time when many households and businesses are still struggling with high living costs, rising food prices, and slow income growth.

Utility costs rise after a tough 2025

The latest hikes follow a difficult 2025, during which electricity tariffs increased by a combined 18.34 per cent, while water charges rose by 4.02 per cent.

For many families, the new adjustments represent another strain on already tight household budgets. Small businesses and informal sector operators say higher electricity and water bills will either reduce their profit margins or force them to increase prices.

Manufacturers and agro-processing firms have also warned that rising utility costs will push up production expenses and weaken the competitiveness of locally produced goods.

Impact on production and prices

Electricity remains a key input for most sectors of the economy, including manufacturing, mining, hospitality, and services. The 9.86 per cent increase across all customer categories is expected to raise operating costs, which may be passed on to consumers.

Industries that rely heavily on water, such as food and beverage production, pharmaceuticals, textiles, and construction, are also bracing for the effects of the 15.92 per cent increase in water tariffs.

Economists caution that sustained increases in utility tariffs often lead to wider price increases, as higher production costs feed into the general cost of goods and services. With inflation still a concern, the new tariffs could deepen financial pressure on low- and middle-income households.

PURC explains the increases

In a statement, the PURC said the tariff adjustments followed months of investment hearings, stakeholder consultations and public forums held across the country.

According to the Commission, the review took into account the investment needs of utility companies, expected production inputs, and key economic indicators such as inflation, the exchange rate and fuel costs.

For electricity, the PURC said the approved tariffs are based on a projected power generation mix made up of 78.79 per cent thermal, 20.9 per cent hydro, and 0.31 per cent renewable energy.

The review also factored in a higher Weighted Average Cost of Gas, set at US$7.8749 per MMBtu, as well as targets to reduce transmission and distribution losses.

Macroeconomic assumptions used include an inflation rate of 8 per cent and an exchange rate projection of GH₵12.01 to the US dollar.

Water sector changes and new additions

On water tariffs, the PURC said the 15.92 per cent increase was based on projected production levels, expected capital investments, and efforts to reduce non-revenue water.

Non-revenue water, caused by leakages and illegal connections, is projected to fall to 43 per cent under the new framework.

Residential users will pay more across all consumption bands, while commercial, industrial users and public institutions will also face higher charges. Service charges are expected to remain largely unchanged.

For the first time, the tariff review includes charges for mini-grids serving island and remote communities. The cost of supplying these areas at uniform national rates has been added to the Volta River Authority’s revenue requirement to support fair access to electricity.

Quarterly reviews to continue

The PURC said quarterly tariff reviews will continue to allow adjustments for factors such as fuel prices, exchange rate movements and changes in power generation.

While the system is meant to protect utility companies from financial shocks, many consumers worry that frequent reviews could lead to regular increases that make budgeting difficult.

As 2026 begins, households and businesses are preparing for higher utility bills, with growing calls for stronger consumer protection, improved efficiency in utility operations and broader economic reforms to ease the burden on Ghanaians.

DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.

DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.

Prophet Fire Oja (L) has sent a strong message to King Paluta (R) over his career

Controversial Ghanaian pastor, Prophet Fire Oja, has joined the list of men of God who have issued various prophecies during the just-ended December 31, 2025, crossover services across the country.

In a video that has so far sparked several reactions on social media, Prophet Fire Oja, during his church service, cautioned Ghanaian singer King Paluta.

In the footage shared on X on January 1, 2026, Prophet Oja is heard stating that King Paluta should be cautious as his career is in danger.

According to the pastor, principalities are fighting against the ‘Aseda’ hitmaker; therefore, if he is not prayerful, his career could go down the drain.

“In the spirit world, I saw eleven hands on King Paluta, pulling him down. I saw a great man suddenly becoming very small, and the people around him were mocking him.

‘They want to pull me down’ – King Paluta speaks on London controversy

“… Wherever King Paluta is, I want to tell him that 11 people are fighting against him. He should be serious with his prayers,” he said.

Prophet Fire Oja further cautioned King Paluta to be prayerful, adding that if the musician takes his spiritual life seriously, the same individuals working against him will eventually be the ones to lift him.

“Those hands pushing him down will be the same hands to raise him, but he must be prayerful. If King Paluta knows any strong man of God, he should seek help,” he added.

Watch the video below:

Prophet Fire Oja says he had a vision about King Paluta’s music career while praying for Ghanaian celebrities.

He claims that if King Paluta doesn’t pray, his career may decline in 2026. pic.twitter.com/jYMc3dgAxT

— Plasmah 👻 (@mista_plasmah) January 1, 2026

JHM/AE

Watch Sarkodie’s electrifying performance at Promiseland 2025:

Watch as Kobi Rana calls for unity in the creative arts industry:

Farida Sultana is the third runner-up of Big Brother Naija Season 10 (BBNS10)

Nigerian reality TV personality and beautician, Farida Sultana Auduson, has praised Ghana’s electricity supply, describing it as one of the things she enjoys most about being in the country.

Speaking in an interview on TV3 on December 31, 2025, Farida disclosed that she feels relieved not having to constantly worry about power outages or charging her phone, a situation she noted is common in her home country.

“One thing I love about Ghana is I don’t have to worry about electricity. I wouldn’t even lie because l don’t have this fear of wanting to charge my phone all the time. People here are not pressured when someone is charging their charger,” she said.

According to her, using someone else’s charger back home often comes with discomfort because the owner may also need it urgently.

“Back home, you won’t have peace of mind when using someone’s charger because they also need to use it but it’s not like that here,” she stated.

‘I don’t have an idea of what to do with the money’ – BBNaija 10 winner

Beyond electricity, Farida also spoke about her experience with Ghanaian food, particularly street delicacies.

Although she admitted she has not tried many local dishes yet, she said her first experiences have been pleasant.

“I’ve not tried most Ghanaian dishes yet but I tried the street suya yesterday and it tasted really nice. I also tried ‘Angwamo’ and it was very nice so I ended up eating more of it,” she shared.

She further disclosed plans to explore more local foods during her stay.

“I plan on going on a tour to try street foods and I’m thinking of trying waakye,” Farida added.

FG/AE

Watch Ofori Amponsah discuss interesting issues surrounding Lumba’s death, career path on this episode of Talkertainment:

Ghana’s local currency, the Ghana cedi (GH¢), has, for the first time in about three decades, made an annual gain against the United States dollar ($).

According to a report by Bloomberg, the Ghana cedi appreciated by 41% against the dollar for the year 2025, making it (the cedi) the best performer among 144 currencies tracked by Bloomberg after the Russian ruble.

The report indicated that the performance of the cedi against the dollar in 2025 has never been seen since Bloomberg began compiling the data in 1994.

“Ghana’s currency posted an annual gain against the dollar for the first time in more than three decades as Africa’s biggest gold producer benefited from rising prices of the metal and the greenback’s weakness.

“The cedi has appreciated 41% against the dollar this year, the first time it has risen since at least 1994 when Bloomberg began compiling the data. That made it the best performer among 144 currencies tracked by Bloomberg after the Russian ruble. The Bloomberg Dollar Index is headed for its worst decline since 2017,” part of the report reads.

The report indicated that the performance of the cedi is expected to continue in 2026, noting that one of the reasons for the appreciation of the cedi is the purchase of gold by the Bank of Ghana, which increased the country’s gross international reserves by 24% to $11.4 billion as of October 2025.

It added that the establishment of the Ghana Gold Board (GoldBod) to regulate the purchase of gold in the country played a key role in the cedi’s performance.

“Ghana’s central bank has been increasing purchases of bullion, helping lift gross international reserves by 24% to $11.4 billion as of October, from the start of the year. In May, the government established an institution known as GoldBod to buy the metal from small-scale mines, a move that has helped direct their output into the formal economy and curb smuggling.

“‘Improved official gold flows via the GoldBod and rising reserves’ played a key role in supporting the currency,” said Sam Singh-Jami, head of Africa research and strategy at Rand Merchant Bank, the report reads.

Read the full Bloomberg report below:

BAI

Meanwhile, watch as Acting Defence Minister Ato Forson inaugurates 9-Member Ministerial Advisory Board