The Volta Region is set to take centre stage in Ghana’s economic transfor­mation journey as it prepares to host the 7th Volta Trade and Invest­ment Fair from November 26 to December 8, 2025.

Organised by the Association of Ghana Industries (AGI) for the Eastern, Volta & Oti Regions, in collaboration with the Volta Regional Coordinating Council (VRCC), under the leadership of the Regional Minister James Gunu, this year’s fair is themed: “Volta Rising: Building Global Partner­ships for a Thriving 24-Hour Economy.”

In an unprecedented move, the 2025 edition introduces the first-ever 24-hour fair days, positioning the event as a ground­breaking platform that promotes night-time economic activity and aligns with the Government of Ghana’s push for a 24-hour economy.

The innovation is expected to boost participation, deepen busi­ness interactions, and significantly increase the Fair’s impact on local commerce.

At the heart of the fair is a strategic goal to rebrand the Volta Region as Ghana’s Eastern Gate­way to regional markets, including Togo, Benin, Nigeria, and Camer­oon.

By showcasing the region’s economic potential, natural resources, and tourism appeal, the fair seeks to attract investors, foster cross-border trade, and integrate Volta more firmly into regional and global value chains.

A statement issued by the organisers in Accra yesterday said “This year’s fair will feature a vibrant mix of exhibitors from across Ghana and countries such as Togo, Nigeria, Namibia, Kenya, India, and Malaysia. Key sectors to be highlighted include agribusi­ness, tourism, ICT, manufacturing, sustainability, and the creative arts, all tailored to boost job creation, innovation, and inclusive economic growth.”

In addition to the exhibition, the statement said the fair would feature a series of flagship fora and summits designed to empower entrepreneurs, promote knowl­edge exchange, and drive policy dialogue.

“These include Volta Invest­ment Summit, Women in En­trepreneurship Forum, Youth in Entrepreneurship Summit AI & Innovation Forum Creative Arts and Sports Development For a,” it said.

The sessions, the statement said would foster collaboration among businesses, policymakers, develop­ment partners, and academia, cre­ating actionable outcomes for both the local economy and national development goals.

The lead-up to the main event includes several engaging activities aimed at building momentum and deepening community involve­ment.

They include Corporate Fun Games and the formal launch of the fair, both slated for August. A 4-day curated tourism experience to showcase the region’s cultural and ecological richness christened Visit Volta, Experience Ghana to be held towards the end of September.

According to the organisers, “the 7th Volta Trade and Invest­ment Fair is not just a showcase, it is a driver of jobs, wealth creation, and long-term partnerships. The Fair aims to catalyse sustainable investment into the region, pro­mote financial inclusion, and help position Ghana as a competitive trade hub in West Africa.”

“We are inviting the private sector, government agencies, development partners, and foreign missions to be part of this trans­formative event,” said the organ­isers. “This year’s fair will be the most ambitious yet and the Volta Region is ready.”

 BY TIMES REPORTER

Activity in the secondary bond market eased by 12.20% week-on-week, with total volumes settling at GH¢1.16 billion last week.

However, modest price gains were recorded across the General Category bonds.

Overall, the shorter end of the local currency yield (LCY) curve accounted for 49% of total volumes.

The weighted average yield to maturity (YTM) eased 145 basis points to 20.63%.

The belly and tail segments made up 51% of volumes, with the average YTM closing at 20.44%.

Databank Research said it expects bond market pricing to strengthen further in the near term.

This will be supported by the recent World Bank financing and the upcoming August 2025 coupon payment.

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.

CEO of Dalex Finance, Joe Jackson

Following the notable drop in inflation last month, many Ghanaians celebrated, believing that the recorded 13.7% rate would lead to a reduction in the cost of goods and services.

In recent months, prices of items such as rice and cooking oil have declined, prompting praise for the Mahama government for its strategic efforts to tame the high inflation rates experienced in prior years.

However, the Chief Executive Officer of Dalex Finance, Joe Jackson, has cautioned that while inflation has eased to 13.7%, it does not automatically translate to lower prices.

According to him, the drop in inflation offers hope, but it’s not a miracle, and Ghanaians should continue to spend wisely.

He pointed out that kenkey remains expensive, urging citizens to plan smartly to avoid financial hardship.

In a post on X sighted by GhanaWeb Business, Joe Jackson said; “Inflation drops to 13.7%… Hurray! But wait… before you celebrate like you’ve won the lottery, remember: Your Kenkey is still expensive Plan smart, Spend wisely, This drop is hope, not magic. Let’s chop with sense and save for the future.”

Ghana’s year-on-year inflation rate for June 2025 fell significantly to 13.7%.

This marked the sixth consecutive monthly decline and the lowest level since December 2021.

Government Statistician, Dr. Alhassan Iddrisu, attributed the reduction to easing inflationary pressures that had impacted the economy in recent months.

Food inflation dropped by 6.5 percentage points to 16.3%, down from 22.8% in May, while non-food inflation eased to 11.4%, compared to 14.4% previously.

SA/MA

Ever heard of Nkofie, the legendary Kwahu cave believed to grant wishes? Join GhanaWeb’s People & Places as they take you on an exclusive tour of this mystical site on GhanaWeb TV:

The Minority Leader, Alexander Afenyo-Markin, yesterday formally confirmed the sudden passing of the New Patriotic Party (NPP) Member of Parliament (MP) for Akwatia, Ernest Yaw Kumi, in Parliament.

He said it was quite regrettable that he would be the carrier of the message to the House.

He told the House that the MP was seen over the weekend hale and hearty and was able to undertake his committee work, and before that, “we all saw him in the plenary”.

Young, bright politician

At the commencement of yesterday’s proceedings, Mr Afenyo-Markin described Mr Kumi as a young politician from the Eastern Region who was serving his first term in Parliament.

Mr Afenyo-Markin said the NPP minority had been struck by the “sudden demise of our brother, Ernest Kumi of Akwatia”.

Mr Kumi is said to have died of cardiac arrest. 

Parliament and its leadership expressed their condolences to the bereaved family and the people of Akwatia who “found him worthy of their trust and, therefore, elected him to represent them”.

“Mr Speaker, we know this is sudden, it was unexpected, and the member was not seen as somebody who was unwell, but I would say God knows best,” he said.

Touching on his background, he said Mr Kumi was born in 1984, pursued his first degree and per his public records, he pursued three second degrees-an MBA in Corporate Governance, an LLB in law, MSc in Defence and International Politics,” he said.

The Minority Leader said Mr Kumi served previously as a security manager prior to joining Parliament.

He said his records in the House, both at the plenary and committee levels, were “quite profound and known to all”.

“This brother had all that anybody would want to have in a brother; he lived the prayer of this House ‘a country of righteousness where none shall wrong his neighbour’”.

“No one can ever say that in his few months in this chamber, he was controversial or wronged his colleagues; he was always there, seeing him every day happy,” he said.

Acknowledging that the House had programmed a couple of businesses yesterday, he said it was the prayer of the Minority Caucus that the day’s proceedings be terminated “as we observe a minute of silence in his honour”.

“Mr Speaker, it is a very sad day for a family, to a constituency, to democracy, to Parliament and the people of Ghana,” he said. 
 

Saddest day

For his part, the Majority Leader, Mahama Ayariga, said it was one of the saddest days of the House.

He touted Mr Kumi as “very bright” who accomplished a lot in diverse fields of his education.

“This shows that this is a very studious young man; at that age, he believed in democracy,” he said, adding that he participated effectively in parliamentary proceedings.

“To be taken away from us at this stage in his life is not only a loss to his family and Akwatia, but it is a loss to Ghana because we would not know where he would have ended up in terms of the leadership of this country,” he said.

The Minority and the Majority leaders appealed to the First Deputy Speaker, Bernard Ahiafor, to adjourn the day’s proceedings, which he heeded.

Over the past five years, swimming has become one of the fastest-growing sports disciplines in Ghana.
Before this evolution, swimming in Ghana was mostly a quarterly festival, including excursions and sightseeing, providing an exciting escape from life’s complexities for many families.

Since last October, we have made frequent trips to Accra every month for meetings. Though costly, these trips have had a positive impact on my program and my club’s performance.

Swimming is a very important social development tool in the hands of its stewards, wherever it is practiced – aesthetics, grace, grit, achievement, personal development, individual assessment, social cohesion, social bonding, camaraderie, and more.

Swimming, as I have come to know it, is a driver of academic excellence and prowess.

[https://news.griffith.edu.au/2013/08/13/swimming-a-smart-move-for-children/].

Swimming as a business has supported many young individuals – like myself – to afford the opportunity of building brands or clubs, all in a bid to bite a piece of the pie that this provides. It has provided the platform for a few athletes, both locally and internationally.

Opportunities aside, governance of the sport has improved too.

From a mostly non-competitive culture, we are now beginning to accept extracurricular activities, while still following a fixed calendar.

However, this seemingly smooth movement has produced a huge existential threat, which threatens the very structure of Swimming as practiced in Ghana.

Unclear career paths

But while children swim all year round, transitioning through the age categories, what are the benefits for life after these sacrifices? Where do they go from here?
What is the structure for them to get to the top level?

For most parents, it may not be the financial sacrifices for trips, new suits, swim camps, and extra arrangements.
These are costs they would have borne anyway, probably, for something or experiences that offer little in value going forward, but where will my child end up, should they continue to perform at a high level?

Take Ghana’s flagship, most dominant project in World Swimming, the revered Abeiku Gyekye Jackson. Like many swimmers, his dream was to reach the Olympics. World Aquatics development benefactor, a national athlete, well-respected in the swimming community, made friends with big names, and many more.

What opportunities can be explored from this, as a case in point – think of Adam Peaty’s AP Series. British Swimming, in collaboration with Adam’s team, has carved out a flashy project to bring to bear the opportunities and prospects of competitive swimming.

What career development platforms won’t cherish the immense experience of such an athlete? What school projects can the federation, in partnership with Ghana Education Service, for example, promote the role of extracurricular activities, and what heights can this take you?

What about sponsorship and ambassadorial deals? I have not seen a country’s athlete at the top tier, with such prospects both for the federation and the athlete, not supported by at least the sports federation to explore deals of mutual benefit.  

Consider our bright swimmers who came to the limelight in recent times, and have had their progress cut short due to School. What then? Continue swimming or not? High performance or hang in there?

High performance is a very difficult, complex road that, if cut short, will only take an extraordinary mental fortitude to take again. So, they tag along with a feeling of guilt weighing down on them as they post ‘slower times’ than their juniors, who are very much swimming into that conundrum.

This is the time we need strong leadership, not just that, but critical thinking leaders, in our federation, club system, and associations, to tackle this existential threat, and open this beautiful sport of ours, so we can properly connect to the global community and explore the benefits.

This piece is not to point out problems and profess knee-jerk solutions to a problem that cannot be solved with simple words. It is to point out to all of us the silent yearns of Coaches, Parents, and Swimmers who are sold out to the sport, yet cannot see it in their futures!

It is to show us we need each other for the future of what we do – to respect the contributions from every stakeholder – and cause a real change – not to seem, ignoring away every concern a stakeholder voices.
It is to prick us to begin to think inclusively, selflessly, for this beautiful community to continue to thrive, support, and grow beyond adrenaline-dopamine rush.

Coach Gyamfi,

African Sharks Swim Team

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.

Ghana will receive an immediate disbursement to the tune of $367 million (Ksh 47.3b) from the International Monetary Fund (IMF).

This follows completion of the fourth review under the three-year Extended Credit Facility which was approved in May 2023 allowing the west African country to access up to $3 billion under the facility.

The latest approval  brings total disbursements under the arrangement to about $2.3 billion.

“The authorities are strongly committed to restoring fiscal discipline and addressing the structural weaknesses that led to the slippages. They have passed a 2025 budget consistent with the program’s objectives and enacted an enhanced fiscal responsibility framework,” said Bo Li, IMF Deputy Managing Director.

The funds are expected to continue supporting Ghana’s economic economic reforms under the program which have deteriorated.

According to IMF, Ghana’s growth in 2024 and the first quarter of 2025 was higher than expected, reflecting robust activity in the mining, agricultural, ICT, manufacturing, and construction sectors.

“Looking ahead, staying the course of fiscal adjustment and completing the debt restructuring are key to ensure fiscal sustainability. This should be supported by continued efforts to enhance domestic revenue mobilization and streamline non-priority expenditure, while creating space for development priorities and enhanced social safety nets,” added Li.

8-member GIIF board constituted by deputy finance minister

The Deputy Minister of Finance, Thomas Ampem Nyarko, has sworn in an eight-member Board of the Ghana Infrastructure Investment Fund (GIIF) at a brief ceremony in Accra on July 7, 2025.

Speaking at the inauguration, the deputy minister underscored the government’s confidence in the newly constituted Board, stating that their appointment reflects trust in their expertise and leadership.

He urged the board to prioritise the identification and funding of bankable infrastructure projects with the potential to attract both local and international investment, thereby advancing sustainable economic growth and development.

The newly inaugurated board is chaired by Franklin Mensah. Other members include GIIF Chief Executive Officer Nana Dwemoh Benneh, Theresa Lardi Awuni, Dr Eric Afful, Thomas Worlanyo Tsekpo, Harriet Anewenah, Linda Quaynor, and Nana Ansah Kwao IV.

For his part, Board Chairman Franklin Mensah expressed gratitude to President John Mahama and the Minister for Finance for the confidence reposed in the team.

He assured that the board will be results-driven and fully committed to delivering on its mandate.

SSD/MA

Cheque Fraud EXPOSED: How it works and how to stay safe

GhanaWeb Special: The gold market that fuels galamsey

Ghana Police have arrested 19-year-old Gilbert Awuni, alias “Starboy,” for the June 19 fatal shooting of Queenmother Pearl Naa Doduwaa Withaker in Gbawe.

Greater Accra Regional PRO Superintendent Juliana Obeng confirmed the suspect fled to Ashanti Region after the attack but was apprehended at his hideout.

During interrogation, Awuni admitted being under substance influence at the time of the incident, initially reported by police as alcohol-related though earlier accounts mentioned infused sobolo (hibiscus tea). The shooting also injured another victim during what witnesses described as chaotic gunfire at the scene.

Additional suspects involved in the incident are now in custody, according to police. The case highlights ongoing concerns about substance abuse and violent crime in urban communities, with investigations continuing to establish full circumstances surrounding the queenmother’s killing.

The first malaria treatment suitable for babies and very young children has been approved for use.

It’s expected to be rolled out in African countries within weeks.

Until now there have been no approved malaria drugs specifically for babies.

Instead they have been treated with versions formulated for older children which presents a risk of overdose.

Half a million deaths in 2023

In 2023 – the year for which the most recent figures are available – malaria was linked to around 597,000 deaths.

Almost all of the deaths were in Africa, and around three quarters of them were children under five years old.

Malaria treatments for children do exist but until now, there was none specifically for the very youngest babies and small children, who weigh less than 4.5kg or around 10lb.

Instead they have been treated with drugs designed for older children.

But that presents risks, as doses for these older children may not be safe for babies, whose liver functions are still developing and whose bodies process medicines differently.

Experts say this has led to what is described as a “treatment gap”.

Now a new medicine, developed by the drug company Novartis, has been approved by the Swiss authorities and is likely to be rolled out in regions and countries with the highest rates of malaria within weeks.

Novartis is planning to introduce it on a largely not-for-profit basis.

The smallest and most vulnerable

The company’s chief executive, Vas Narasimhan, says this is an important moment.

“For more than three decades, we have stayed the course in the fight against malaria, working relentlessly to deliver scientific breakthroughs where they are needed most.

“Together with our partners, we are proud to have gone further to develop the first clinically proven malaria treatment for newborns and young babies, ensuring even the smallest and most vulnerable can finally receive the care they deserve.”

The drug, known as Coartem Baby or Riamet Baby in some countries, was developed by Novartis in collaboration with the Medicines for Malaria Venture (MMV), a Swiss-based not-for-profit organisation initially backed by the British, Swiss and Dutch Governments, as well as the World Bank and the Rockefeller Foundation.

Eight African nations also took part in the assessment and trials of the drug and they are expected to be among the first to access it.

Martin Fitchet, CEO of MMV, says this is another important step on the road towards ending the huge toll taken by malaria.

“Malaria is one of the world’s deadliest diseases, particularly among children. But with the right resources and focus, it can be eliminated.

“The approval of Coartem Baby provides a necessary medicine with an optimised dose to treat an otherwise neglected group of patients and offers a valuable addition to the antimalarial toolbox.”

Dr Marvelle Brown, associate professor at the University of Hertfordshire’s School of Health, Medicine and Life Sciences, says this should be seen as a major breakthrough in saving the lives of babies and young children.

“The death rate for malarial infections, particularly in sub-Saharan Africa is extremely high – over 76% of deaths occur in children under five years old.

“Increase in death from malaria is further compounded in babies born with sickle cell disease, primarily due to a weak immune system.

“From a public health perspective, Novartis making this not-for-profit can help with reducing inequality in access to healthcare.”

Ghana’s local currency, the cedi, has depreciated on the interbank market against major trading currencies, particularly the US dollar.

In its daily update, the Bank of Ghana noted that the cedi is trading at a buying price of GH¢10.34 and a selling price of GH¢10.35 to the dollar.

It was previously buying at GH¢10.31 and selling at GH¢10.32 to the dollar.

The British pound is being bought at GH¢14.07 and sold at GH¢14.09, while the euro is trading at a buying price of GH¢12.11 and a selling price of GH¢12.12.

Checks by GhanaWeb Business on July 8, 2025, at 8:00 AM indicate that the cedi is trading at GH¢12.40, while the pound is selling at GH¢17.00 at some forex bureaus across the country.

Additionally, the euro is trading at GH¢14.60 on the retail market.

Meanwhile, the Bank of Ghana has announced that Ghana is expected to receive $360 million from the IMF in July 2025 to further stabilise the cedi.

Cheque Fraud EXPOSED: How it works and how to stay safe

GhanaWeb Special: The gold market that fuels galamsey

 Former multiple world champion, Ricky Hatton, has announced his return to boxing.

Manchester’s Hatton, who turns 47 in October, will fight the United Arab Emirates’ Eisa Al Dah in a middleweight bout on December 2 in Dubai.

Organisers say the contest will be a professional bout but it is unclear if it will be fully sanctioned or if it will have conditions like Mike Tyson v Jake Paul, where there were shorter rounds and a limit on number of rounds.

Hatton fought Marco Antonio Barrera in an exhi­bition in 2022. His previous professional bout was a loss to Vyacheslav Senchenko in 2012.

The fight was announced during a show promoted by Al Dah in Dubai on Sunday, with Hatton confirming his return via livestream.

Hatton, who won world titles at welterweight and light-welterweight, revealed he should have been in Dubai but could not attend after accidentally injuring his eye with his sunglasses.

“I wish I was there but I had a little bad injury on my eye. The main thing is the fight will take place and I can’t wait, I’m really looking forward to it,” said Hatton.

“It’s just one of them freakish things, I caught one of my sunglasses in my eyes and I’m very fortunate it’s not done any permanent damage. It’s just scraped the surface, so fingers crossed we’re good to go.”

Hatton, who won 45 of his 48 professional bouts across an esteemed 15-year career, last fought profes­sionally in 2012, suffering defeat by Ukraine’s Senchen­ko.

He earned notable world title wins over Russia’s Kostya Tszyu and Jose Luis Castillo among others, before defeats by Floyd Mayweather and Manny Pacquaio.

Hatton’s announcement comes after Pacquiao, 46, confirmed his return – a title bout with WBC welterweight champion Mario Barrios on July 19 – in May.

Al Dah, 46, who has won eight of his 11 bouts, last fought in 2021, suffering defeat by Mexico’s Pedro Alejandro Delgado.

—BBC

Ghana’s international reserves surged to $10.672 billion by April 2025, surpassing International Monetary Fund benchmarks under its Extended Credit Facility arrangement.

The IMF Executive Board confirmed the milestone following its fourth program review, authorizing an immediate $367 million disbursement. Reserves climbed steadily from $9.98 billion in December 2024, driven by robust gold and oil exports alongside rising remittances.

Central bank data indicates Gross International Reserves now cover 4.7 months of imports, up from 4.0 months in late 2024. This strengthens Ghana’s capacity to withstand global economic volatility. Bank of Ghana officials attribute the growth to disciplined fiscal management and favorable commodity trade performance.

Currency markets mirrored this progress, with the cedi appreciating from GH₵15.53 per dollar in March to GH₵10.35 by June 2025. Analysts at Databank Research cited expanded reserves, improved investor confidence, and moderated import demand as key drivers. The currency’s rally marks its strongest performance in five years.

Concurrently, the Heritage and Stabilization Fund grew to $1.401 billion, reinforcing fiscal stability. IMF reports commend Ghana’s reserve accumulation as evidence of successful reform implementation under its $3 billion program. The progress occurs amid President John Mahama’s NDC administration prioritizing economic recovery ahead of the 2028 elections.

Springfield Exploration and Production Limited (SEP) has strongly rejected what it describes as “false and unfounded” allegations stemming from a petition reportedly submitted by Petraco Oil Company SA to the Economic and Organised Crime Office (EOCO).

In a detailed statement issued Monday, the Ghanaian upstream oil and gas firm said the claims being circulated in the media misrepresent a purely commercial dispute currently under arbitration.

According to Springfield, the petition and resulting media coverage are part of an attempt to cast aspersions on its corporate reputation without basis.

“The allegations contained in Petraco’s petition are false, unfounded, and entirely without merit,” the company said. “They do not reflect the facts of the commercial relationship between Springfield and Petraco and should not be treated as evidence of criminal conduct.”

The dispute arises from a USD 100 million facility agreement signed on 7th February 2023, under which Petraco disbursed an initial tranche of USD 50 million.

As part of the agreement, Springfield provided security through a charge over 10% of its issued shares. However, Petraco registered its interest over the entire 10%, despite only partially disbursing the facility.

Springfield maintains that the deal was entered into after Petraco and its legal advisers conducted “comprehensive legal and technical due diligence” on its operations and assets, particularly its interest in Ghana’s West Cape Three Points Block 2.

The firm insists that it fully cooperated with this process and that the agreement was finalised only after Petraco expressed full satisfaction.

“This was, and remains, a straightforward commercial arrangement,” Springfield stated. “Attempts to reframe it as a matter of criminality whilst it is being addressed in arbitration are not only misleading, but deeply damaging.”

The company expressed concern over what it called “a series of negative and sensationalised reports” based on the unverified petition.

It warned that continued publication of what it described as defamatory and speculative content could result in legal consequences.

“Springfield is a responsible, law-abiding Ghanaian company with a demonstrated commitment to transparency, ethical conduct, and national development. We welcome scrutiny and accountability but expect it to be based on fact—not speculation,” the statement read in parts.

The company concluded by reaffirming its willingness to engage media and the public in good faith, while urging professionalism and fairness in ongoing coverage.

Springfield Exploration and Production Limited, established in 2008, holds the majority interest and operatorship of the West Cape Three Points Block 2 offshore Ghana, with partners Ghana National Petroleum Corporation (GNPC) and its exploration subsidiary, EXPLORCO.

Ghana’s tourism sector has experienced a growth trajectory

Ghana’s tourism sector has experienced a growth trajectory with last year marking a year of record-breaking performance as the sector’s progress returned to pre-pandemic levels.

The latest Ghana Tourism Report, released by the Ghana Tourism Authority, under the theme ‘Growth and Stability’, reveals that the country welcomed 1.288 million international visitors in 2024, representing a 12 percent increase from the previous year.

These arrivals generated a staggering US$4.8 billion in revenue into the tourism economy, the highest in the country’s tourism history.

This impressive growth, according to the GTA, was fuelled largely by strong performances from Ghana’s top source markets — the United States, Nigeria, and the United Kingdom.

Notably, Nigeria alone recorded a 25 percent rise in visitors, a clear indication of Ghana’s strengthened appeal within West Africa and the broader diaspora.

From vibrant city life in Accra to the spiritual reconnection offered by historic towns like Cape Coast and Elmina, tourists continue to be drawn by Ghana’s unique mix of culture, heritage, and hospitality.

In 2023, the country recorded 1.1 million international tourist arrivals, exceeding the 2019 pre-pandemic levels by two percent, as domestic tourism experienced a substantial increase of 48.9 percent with 1.4 million domestic tourist visits.

That same year, tourism receipts also saw a rise, increasing from US$2.5 billion in 2022 to US$3 billion in 2023. Just like the 2024 report, the United States, Nigeria, and the UK continue to be the leading source markets for tourists visiting Ghana as it was in 2023.

Speaking at the report’s launch, CEO of the Ghana Tourism Authority, Maame Efua Houadjeto, praised the sector’s resilience and future promise.

“Tourism continues to serve as a powerful tool for economic transformation, social cohesion, and national branding,” she said.

“Thanks to targeted marketing campaigns, strategic partnerships, and our ‘See Ghana, Eat Ghana, Wear Ghana, Feel Ghana’ initiative, we have reaffirmed Ghana’s place as the Gateway to Africa.”

She also spotlighted key achievements such as greater public-private collaboration, stronger training and certification systems, and a heightened commitment to sustainable tourism that uplifts communities and preserves Ghana’s cultural and natural assets.

“Our goal is not only to attract visitors but to ensure that tourism development benefits local communities and preserves our heritage for generations,” she added.

Madam Houadjeto further urged all stakeholders — from government to civil society — to rally behind a collective vision for Ghana’s tourism future. She pointed to the need for improved infrastructure, expanded digital tools, and market diversification to maintain the growth momentum.

Ghana is poised to attract more international oil companies following the government’s recent declaration of the Akoma and Eban 1X oil discoveries.

Energy analysts say the development is expected to boost national revenue and stimulate local economic growth.

The Ministry of Energy and Green Transition announced that the declaration follows the successful completion of the Eban-Akoma Appraisal Programme, which confirmed the commercial viability of hydrocarbons in the Eban 1X and Akoma 1X wells.

Speaking to Citi Business News, Executive Director of the Centre for Environmental Management and Sustainable Energy, Benjamin Nsiah, commended the government for the discovery and its positive impact on Ghana’s upstream petroleum sector.

“This is a new way of attracting international oil companies into our upstream sector,” he said. “The confirmation of the commercial viability of these reserves will encourage new players to invest capital—especially liquidity—into further exploration and development.”

Nsiah added that the discoveries would contribute significantly to revenue generation and job creation.

“Developing these fields means engaging both local and international human resources,” he explained. “This workforce will, in turn, drive growth in the local economies where operations will take place. It’s a win for national development.”