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October 1, 2026
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Banks NPL ratio of 16.1% is still too high – S&P
Money
Policy
Growth
Key Points
- S&P Global considers Ghana's banking sector's Non-Performing Loan (NPL) ratio of 16.1% by June 2026 excessively high.
- This elevated NPL ratio is linked to the 2022 domestic debt exchange, government arrears, and macroeconomic pressures like exchange rate depreciation and inflation.
- Credit risk in Ghana's banking system remains high due to past macroeconomic instability, government default, and the recent debt restructuring.
- Five local banks, including one state-owned, are still undercapitalized following the 2022 debt restructuring, contradicting the Bank of Ghana's assertion that all banks have met new capital requirements.
- S&P anticipates inflationary pressures to be contained compared to Ghana's historical norm, with improving monetary policy credibility, but expects average inflation to remain at the upper end of the Bank of Ghana's 6-10% target until 2029.
Why This Matters
This assessment by S&P Global is critical for Ghana as it highlights persistent vulnerabilities within its financial sector, including high NPLs and undercapitalized banks, which can hinder economic recovery and stability. The divergence in views with the Bank of Ghana on bank capitalization could impact investor confidence and the effectiveness of ongoing economic reforms. Moreover, the outlook on inflation and monetary policy indicates the continued tightrope walk for economic managers in achieving sustainable growth.
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OSP vs Ken Ofori-Atta, SML and others: Court gives OSP four more weeks to serve Ofori-Atta with summons
- The High Court has granted the Office of the Special Prosecutor (OSP) four additional weeks to serve summons to former Finance Minister Ken Ofori-Atta and Ernest Darko Akore in the United States.
- The case, involving Ofori-Atta and seven others, has been adjourned to October 29, 2026.
- Ofori-Atta faces 28 counts of corruption and corruption-related offences stemming from the OSP's investigation into the SML-GRA revenue assurance arrangements.
- The OSP alleges that the accused persons' actions resulted in financial losses exceeding GH¢1.4 billion.
- The proceedings were previously stalled due to legal challenges to the OSP's prosecutorial powers, which the Supreme Court has since upheld.
September 30, 2026
Photos: Vice President joins GAAS Awards to celebrate outstanding women leaders
- Vice President Jane Naana Opoku-Agyemang attended the inaugural Ghana Academy of Arts and Sciences (GAAS) Women’s Awards.
- The event, themed “Breaking Barriers, Building Nations,” celebrated women’s leadership and contributions to national development.
- The Vice President highlighted women's longstanding, historical role in Ghana’s economic and social foundations, predating modern gender equality discussions.
- She acknowledged progress in promoting opportunities but stressed the need for further work to achieve full representation and remove existing barriers.
- Dr. Opoku-Agyemang advocated for deliberate measures such as expanded education, gender equity initiatives, and improved access to finance (e.g., Women’s Development Bank) to create more opportunities for women and girls.
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Mahama’s proposed airline looks to South America, Caribbean as Ghana confronts mounting drug trafficking cases
- President Mahama proposes that Ghana's future national airline explore direct routes to South America and the Caribbean to boost trade, tourism, and investment.
- This proposal was discussed with leaders from Suriname and Jamaica, with an agreement to accelerate a Bilateral Air Services Agreement for flights like Accra to Montego Bay.
- A major concern is the lack of specific, publicly available passenger data from the Ghana Civil Aviation Authority (GCAA) to assess the market demand for these proposed routes.
- The absence of detailed route studies raises questions about the commercial viability and sustainability of such long-haul operations for the national carrier.
- The initiative also brings heightened security concerns due to South America being a major cocaine source and recent high-profile drug trafficking cases involving Ghana.