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May 11, 2026
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Oil prices jump after Trump dismisses Iran proposal to end war
Money
Policy
Opportunity
Growth
Key Points
- Oil prices surged after President Trump rejected Iran's peace proposal as "totally unacceptable."
- Iran's terms, relayed via Pakistan, included an immediate end to conflict and guarantees against US-Israeli attacks.
- The critical Strait of Hormuz waterway remains effectively shut, severely disrupting global oil and gas supplies.
- Brent crude rose 3.8% to $105.20, and US crude increased 4% to $99.30, reflecting market volatility.
- Major energy companies like Aramco, BP, and Shell reported significant profit jumps due to soaring oil and gas prices.
Why This Matters
As an oil-producing nation, Ghana benefits from higher crude oil prices through increased export revenues. However, Ghana is also a net importer of refined petroleum products, meaning rising global oil prices will significantly increase the cost of fuel and transportation within the country, potentially leading to higher inflation and increased cost of living for its citizens and businesses.
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July 9, 2026
Eastern Corridor Road to undergo full asphalt reconstruction, not patch repairs – Roads Minister
- The Minister for Roads and Highways announced a full reconstruction of sections of the Eastern Corridor Road.
- The government will now use asphalt pavement instead of continuing with temporary patch repairs on the existing surface-dressed road.
- This decision follows technical assessments revealing the corridor has exceeded its design life and requires a more permanent solution.
- The reconstruction involves replacing the road base and applying a stronger asphalt surface to ensure lasting value and durability.
- The initiative aims to improve road safety, strengthen connectivity, reduce maintenance costs, and support economic activities along the corridor.
July 9, 2026
Ibrahim Mahama to pay hospital bills of Ghana’s tallest man battling gigantism
- Businessman Ibrahim Mahama has pledged to fully cover the medical expenses of Abdul-Samed Sulemana, known as Awuche, Ghana's tallest man.
- Awuche's health deteriorated due to gigantism complications, leading to a referral to Tamale Teaching Hospital.
- Doctors at TTH recommended amputation of Awuche's left leg due to a severe infection.
- Ibrahim Mahama's aide confirmed the commitment, assuring coverage of all medical costs and surgery.
- Awuche has safely arrived at Tamale Teaching Hospital and has commenced the necessary medical procedures.
July 9, 2026
75 Bank staff dismissed as fraud cases surge 48% – Bank of Ghana report
- Fraud cases in Ghana's financial sector surged by 48% in 2025, reaching 24,778, according to the Bank of Ghana's report.
- This increase was predominantly driven by the Payment Service Providers (PSPs) sector, which saw a 98% rise in incidents and a 95% increase in value at risk.
- While banks and Specialised Deposit-Taking Institutions (SDIs) reduced incident numbers, their value at risk increased due to specific issues like cash suppression and forgery.
- The total value at risk across the financial sector marginally rose from GH¢99 million in 2024 to GH¢101 million in 2025.
- The Bank of Ghana calls for unified efforts from all stakeholders, enhanced regulatory frameworks, and improved supervision to combat evolving fraud risks in the increasingly complex financial landscape.