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July 23, 2026
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Oil tops $100 a barrel as Red Sea attacks fuel supply fears
Money
Policy
Growth
Key Points
- Global oil prices surged, with Brent crude exceeding $100 a barrel, following attacks on Saudi oil tankers in the Red Sea.
- Iran-backed Houthi rebels claimed responsibility for the attacks, escalating fears of conflict expansion beyond the Strait of Hormuz.
- The Bab el-Mandeb Strait, a vital shipping route for 12-15% of global trade and millions of barrels of crude oil daily, is now threatened.
- Oil prices have risen sharply (35% this month, 60% this year), leading to higher fuel prices and renewed inflation concerns globally.
- The escalation highlights significant risks to global energy supplies and the stability of key maritime trade routes.
Why This Matters
As a net importer of refined petroleum products, Ghana will face increased fuel costs, leading to higher transport fares and general inflation. This surge in global oil prices will put additional strain on Ghana's foreign exchange reserves and potentially hinder economic stability and growth by increasing the cost of doing business and living.
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September 7, 2026
MTN commits US$1.1bn to Ghana network expansion after 5G reforms – Communications Minister
- MTN Ghana has committed over US$1.1 billion over the next three years to expand its network and roll out 5G services.
- This investment includes the construction of 800 new cell sites, focusing on improving coverage in rural and peri-urban communities, with 180 already operational.
- The commitment follows recent government regulatory reforms, notably the National Communications Authority's (NCA) removal of the wholesale 5G exclusivity framework.
- Communications Minister Samuel Nartey George highlighted these reforms as crucial for attracting private-sector investment and fostering competition in Ghana's digital infrastructure.
- Telecel Ghana has also increased its capital investment by 60% between 2023 and 2026, targeting 2,698 sites.
September 7, 2026
Ghanaians now get more data for less money- Sam George
- Minister Samuel Nartey George announced that Ghanaian households and businesses are now receiving significantly more mobile and fixed broadband data for less money.
- This improvement resulted from direct engagements between the government and mobile network operators like MTN, Airtel, and Telecel.
- MTN increased mobile data bundles by 15%, while Airtel and Telecel increased theirs by 10%, making every Cedi spent buy more data.
- MTN also drastically cut fibre broadband prices by 70%, reducing its 800 Mbps unlimited package from GH¢987 to GH¢299, with Telecel also revising fixed-data prices.
- The Minister acknowledged ongoing challenges with network quality and coverage, attributing them to a decade of insufficient policy and regulatory attention.
September 6, 2026
2026 U-20 WWC: Black Princesses fall to Ecuador in opening game
- Ghana's U-20 women's national team, the Black Princesses, suffered a 3-0 defeat to debutants Ecuador in their opening FIFA Women's World Cup match in Poland.
- Ecuador scored early goals, including one within two minutes and another just before halftime, with a third goal sealing the victory after the recess.
- Head coach Charles Sampson was without centre-back Margaret Agyapomaa due to a red card from a prior qualifier.
- This defeat continues Ghana's struggle in World Cup opening games, having secured only one win since their debut in 2010.
- The Black Princesses are set to face South Korea and France in their subsequent Group C fixtures.