Back to Latest Briefings
June 26, 2026
AI-Enhanced
High Commissioner urges Ghana to look beyond the west for economic solutions
Money
Policy
Opportunity
Growth
Key Points
- Ghana's High Commissioner to Malaysia urged Ghana to reduce reliance on Western economic models and instead learn from Asia's, particularly Malaysia's, long-term vision and policy consistency.
- A high-level delegation of Ghanaian financial regulators is undertaking a study tour in Malaysia to understand its globally acclaimed non-interest banking and finance ecosystem.
- Ghana is preparing to introduce non-interest banking, Sukuk bonds, and Takaful insurance as part of a broader financial sector transformation.
- The country is signaling its readiness to attract both local and international investment into its emerging non-interest finance sector, with the framework for Sukuk bonds reportedly complete.
- Malaysia's four-decade success in integrating non-interest finance into its dual-banking system is seen as a model for Ghana to mobilize capital for infrastructure and strategic national projects.
Why This Matters
This initiative is crucial for Ghana as it seeks to diversify its financial system and funding sources beyond traditional Western models. Adopting non-interest banking and finance, inspired by Malaysia's success, could provide new avenues for mobilizing capital for infrastructure and development projects, fostering financial inclusion, and potentially stabilizing the economy by discouraging speculation. It also represents a strategic shift towards more consistent, long-term economic policies, aiming to transcend political cycles.
Read Full Article
View original sourceRelated Articles
June 26, 2026
Sentuo Oil Refinery expansion will reduce fuel imports when completed – John Jinapor
- The Sentuo Oil Refinery is undergoing a Phase II expansion, increasing its capacity from 40,000 to 100,000 barrels per day.
- This expansion aims to significantly reduce Ghana's reliance on imported finished petroleum products.
- The project is expected to create jobs, enhance energy security, boost local value addition, and accelerate industrialization.
- When Sentuo and Tema Oil Refinery operate at full capacity, Ghana anticipates eliminating finished product imports and supplying the sub-region.
- The government reaffirms its commitment to creating an enabling investment environment and implementing policies to strengthen the petroleum sector.
June 26, 2026
Calgary University professor leads experts at a free virtual data science and AI conference
- An international virtual conference on AI, data science, and analytics, led by Ghanaian Professor Andy Asare from Calgary University, is scheduled for June 27, 2026.
- The free event aims to bridge theoretical knowledge with real-world impact, focusing on driving global impact through inclusive AI and data science pathways.
- A major focus will be on how emerging technologies can revolutionize sectors in developing nations, particularly Africa, amidst its digital transformation strides.
- The conference is timely for Ghana, following its recent launch of a $250 million National Artificial Intelligence Strategy aimed at economic growth.
- Professor Asare, a Ghanaian academic, has a strong track record of leading capacity-building initiatives and curriculum development in data science and AI across Ghanaian and other African universities.
June 26, 2026
Fuel Levy cash cleared IPP debts and restored Ghana’s credit standing – PURC boss
- The GH¢1 levy on petroleum products has been instrumental in clearing long-standing energy sector debts in Ghana.
- These funds, estimated at $8 billion, were used to settle arrears owed to independent power producers and gas suppliers.
- The levy also helped restore risk guarantees with international partners, including the World Bank, and improved Ghana's credit rating.
- Specific payments were made to gas suppliers like Sankofa Gye Nyame and Jubilee Partners to secure gas supply.
- Despite these debt-clearing efforts, the Ministry of Finance must still provide an average of $92 million monthly to maintain consistent electricity supply.