Paper Trail
KGL paid GH¢153 million in tax to GRA the same month Mahama ordered its lottery contract renegotiated
Executive Chairman Alex Dadey said taxes belong to the people.
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Editor's Picks
Features
What is Publican AI, who built it, and why is it at Ghana's ports?
The AI system was built by an Israeli intelligence-tech company founded by Unit 8200 veterans and flags $3 million a day in undervalued imports. An internal GRA memo tells officers to ignore it when it flags lower values. Here is what we know.
Capital
Joe Jackson says Ghana keeps only 46% of its gold revenue; the Chamber of Mines says he counted wrong
The Dalex Finance CEO argued that $11.9 billion in gold exports produced only $5.5 billion in domestic retention. The real retention rate, by the Chamber's math, is 73.7%
Capital
COCOBOD owes GH¢32.9 billion, farmers are unpaid since November, and global cocoa has crashed 62%
The farmgate price was cut 28.6 percent in February after global futures collapsed from $12,000 to $4,200 per tonne. LBCs owe banks $750 million. Outstanding farmer arrears exceeded GH¢10 billion.
Latest
Paper Trail
Parliament backs Ghana Gas the day after Akosombo burns; the tariff fight has not gone away
Ghana Gas output rose from 100 to 120 MMScf/day under Acting CEO Judith Adjobah Blay. Parliament's Energy Committee called it on top of its game.
Paper Trail
Goosie Tanoh wants a new Cooperative Legislation Bill; the 1968 law it would replace sits over GH¢2.68 billion in assets
The 24-Hour Economy Secretariat is proposing a new cooperative legal framework and a Solidarity Fund to replace NLCD 252, the decree that has governed Ghanaian cooperatives since 1968.
Paper Trail
Asiama says fintechs get innovation space but not at the cost of regulation; AGI says the rules aren't clear enough
The BoG Governor told licensed fintechs on 24 April that innovation without consumer protection undermines inclusion. The same week, AGI's president said inconsistencies in the secured lending regime are limiting SME credit.
Ventures
A 19-year-old Berkeley dropout raised $7.3 million to build a super app in Lagos starting with food delivery
Swoop's seed round is one of the largest disclosed for an African consumer startup, nearly matching Chowdeck's $9 million Series A. Founder Aubrey Niederhoffer is a Thiel Fellow who started in Eswatini, pivoted to Lagos, and modelled the company on Kaspi and WeChat.
Paper Trail
Thirteen African fintechs have registered in Canada and one of them is Ghanaian
LemFi, Nala, Chimoney, Fincra, Payaza, Raenest, and Ghana's WeWire have all secured Canadian PSP or MSB registration in the past three months.
Ventures
Opera puts an 85 percent probability on OPay's $3.1 billion IPO within two years
The Norwegian-Chinese parent values its 9.5 percent stake at $294.6 million, implying a total OPay valuation of $3.1 billion — up from $2 billion at its 2021 SoftBank round. The company processes $12 billion in monthly transactions across 50 million Nigerian users.
The Data
Republic Bank Ghana posted a 37 percent profit jump and declared a GH¢0.50 dividend; NPLs are still at 14 percent
Net profit of GH¢287.9 million, up from GH¢210.7 million in 2024. Total assets at GH¢12.33 billion. Loan book grew 13 percent to GH¢3.45 billion. But NPLs fell only to 14.15 percent from 15.64 percent. The bank sits mid-tier against GCB at GH¢3.16 billion and Ecobank at GH¢2.
Paper Trail
The Bank of Ghana is four months late publishing its 2025 financial statements — in violation of its own Act
Section 58 of the Bank of Ghana Act requires audited accounts submitted to the Minister of Finance within three months of year-end and published within six months. The 2025 deadline was end of March.
News
A fire in GRIDCo's control room shut down the Akosombo plant and took three substations offline
The fire originated in the control building, not the switchyard equipment. Akosombo's 1,020 MW hydro plant was shut down as a precaution. Kasoa, Mallam, and Asiekpe substations were also taken offline. A GRIDCo management retreat was abruptly closed. No restoration timeline has been published.
Paper Trail
Hassan Ayariga wants the NLA-KGL digital lottery monopoly dismantled, not just renegotiated
The APC founder issued four demands on 22 April: terminate exclusivity clauses, open competitive licensing, ensure NLA oversight of revenues, and guarantee local tech firms can compete.
The Data
One in three Ghanaian households is under food pressure even as headline inflation sits at 3.2 percent
The GSS mVAM survey for October-December 2025 puts three million Ghanaians in poor or borderline consumption. One in five households spends over 75 percent of income on food. Households headed by someone with no formal education are nearly ten times more likely to be food insecure than tertiary-e...
Paper Trail
BoG Governor Asiama is in Virginia pitching the diaspora on converting remittances into investment capital
The 'Central Bank Bridge: Remit2Invest' forum at the Alexandria Hilton brought together BoG technical experts, commercial bank representatives, and GIPC officials.