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June 26, 2026
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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.
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August 24, 2026
GoldBod denies GH¢1bn BoG overdraft claim, demands retraction and apology from Boako
- The Ghana Gold Board (GoldBod) has vehemently denied claims by MP Dr. Gideon Boako that it owes the Bank of Ghana (BoG) a GH¢1 billion overdraft.
- Dr. Boako, a Deputy Ranking Member on Parliament’s Finance Committee, questioned GoldBod's reported GH¢907 million profit, stating an outstanding overdraft would reflect a loss.
- GoldBod labeled Dr. Boako’s claim as “totally false,” a “deliberate and malicious smear campaign,” and demanded a retraction and apology.
- This dispute is set against a broader political and economic debate concerning GoldBod’s financial performance and the accounting treatment of GH¢22 billion losses from the Domestic Gold Purchase Programme (DGPP).
- GoldBod asserts it has never taken any loan, overdraft, or debt instrument from the Bank of Ghana or any financial institution since its establishment.
August 24, 2026
GoldBod losses remain key on Minority agenda as Parliament reconvenes – Afenyo-Markin
- The NPP Minority Leader, Alexander Afenyo-Markin, reaffirmed the caucus's commitment to investigate a reported US$1.7 billion loss linked to the Bank of Ghana’s Domestic Gold Purchase Programme and the Ghana Gold Board (GoldBod).
- This commitment was reiterated after Afenyo-Markin met with NPP flagbearer Dr Mahamudu Bawumia in Accra.
- Dr Bawumia commended the Minority Caucus for its accountability efforts and encouraged their continued work.
- The reported loss, equivalent to about 1.5% of Ghana’s GDP, will be a key issue for the Minority as Parliament reconvenes.
- The Minority is resolute in pursuing the matter to get answers for the Ghanaian public regarding the circumstances of the loss.
August 23, 2026
Why celebrate $2.62bn FDI while losing $1.7bn under the Domestic Gold Programme? IERPP asks
- The Institute of Economic Research and Public Policy (IERPP) welcomes Ghana's US$2.62 billion Foreign Direct Investment (FDI) as a sign of investor confidence.
- However, IERPP tempers this optimism with concern over an estimated GH¢22 billion (US$1.7 billion) loss from the Domestic Gold Purchase Program (DGPP).
- The DGPP loss is significant, equating to about 65 cents for every US$1 of FDI attracted, highlighting a major resource management issue.
- IERPP emphasizes that while FDI is crucial, it cannot substitute for prudent management and protection of existing public resources.
- The Institute calls for greater transparency, a clear breakdown of DGPP losses, and intense scrutiny from accountability institutions, Parliament, and civil society.