The Chief Executive Officer of the National Youth Authority (NYA), Osman Abdullai Ayariga, on Saturday, February 14, distributed essential tools and equipment to beneficiaries of the National Apprenticeship Programme (NAP) in Cape Coast.
The ceremony marked the official handover of equipment to the first batch of apprentices under the programme, reinforcing government’s commitment to youth empowerment and skills development. Other dignitaries were present at the event.
Addressing the gathering, Mr Ayariga described the occasion as a significant milestone in efforts to equip young people with employable skills.
“I stand before you today with deep pride and sincere gratitude at the official distribution of equipment to the first batch of beneficiaries. This event is a milestone in our collective journey to empower Ghana’s youth, strengthen our human capital, and build a resilient economy,” he said.
Beneficiaries received sewing machines, dryers, safety equipment and toolboxes to support their respective trades.
Mr Ayariga noted that the National Apprenticeship Programme is in line with the National Democratic Congress (NDC) 2024 manifesto, which places emphasis on inclusive growth, job creation and practical skills training.
He reiterated that youth empowerment should be seen as an investment in Ghana’s future rather than an act of charity.
The NYA CEO further underscored the critical role of Technical and Vocational Education and Training (TVET) in driving industrialisation and tackling unemployment.
“By integrating apprenticeships into our national development agenda, we are bridging the gap between education and employment, ensuring that no young Ghanaian is left behind,” he stated.
He also appealed to master craft persons, communities and private sector partners to provide mentorship and create opportunities that would enable the apprentices to thrive.
Concluding his address, Mr Ayariga urged the beneficiaries to treat the equipment as a stepping stone to independence and prosperity.
“For the beneficiaries here today, the equipment you receive is not just a tool – it is a symbol of opportunity, dignity, and independence.
“Today, we plant seeds of resilience, innovation and prosperity. Tomorrow, these seeds will blossom into a nation where every young person has the skills, confidence and opportunity to succeed,” he said.
The African Continental Free Trade Area (AfCFTA) Secretariat convened a high-level dinner dialogue on the margins of the 39th African Union Summit in Addis Ababa, Ethiopia, seeking to accelerate green industrial growth by linking regional markets with investment capital.
The event, held under the Africa Green Industrial Initiative (AGII) High-Level Dinner Dialogue format, brought together policymakers and development partners to address a central challenge confronting Africa’s climate and industrial agenda: translating commitments into investable execution.
AfCFTA Secretary-General Wamkele Mene stated that Africa’s constraints are increasingly defined not by shortage of opportunity, but by lack of prepared, bankable project pipelines at scale. He noted the critical role of Development Finance Institutions and international partners in closing the gap between climate ambitions and tangible industrial outcomes.
The dialogue operated under the theme From Frameworks to Execution: Mobilising Regional Markets and Investment for Green Industrial Growth, focusing on accelerating project preparation, mobilizing blended finance, and strengthening coordination to translate climate ambition into industrial competitiveness, jobs, and resilient growth.
The 39th Ordinary Session of the African Union Assembly of Heads of State and Government took place on Friday and Saturday, February 14 and 15, 2026, under the theme Assuring Sustainable Water Availability and Safe Sanitation Systems to Achieve the Goals of Agenda 2063.
African leaders elected Burundi President Évariste Ndayishimiye as rotating AU chairperson for 2026, succeeding Angola President João Manuel Gonçalves Lourenço. Ndayishimiye emphasized commitment to strengthening Africa’s global positioning toward building a fairer world amid security challenges, rising unilateralism, growing economic tensions, and climate change effects.
Outgoing AU Chairperson Lourenço highlighted progress achieved during 2025, including advancing Agenda 2063, mobilizing investment for infrastructure, strengthening continental integration through AfCFTA, and enhancing institutional efficiency. He underscored the imperative to silence guns across Africa for achieving a better continental future.
Multiple high-level business engagements occurred on summit margins. The AU Commission hosted a High-Level Africa Private Sector Forum on Thursday, February 13, themed The Role of the Private Sector in Realizing Africa’s 2063 Development Agenda. The forum aligned capital, policy, and political will around industrialization priorities.
Brand South Africa convened a Business Engagement and Panel Discussion on February 13 under the theme Fostering Trade, Investment, Integration and Infrastructure Development through AfCFTA. The event gathered policymakers, development finance institutions, investors, and business leaders to reinforce Africa’s position as an integrated, investment-ready market.
Discussions explored infrastructure financing challenges, digital infrastructure requirements for cross-border transactions, and strategies to position Africa as a viable trade partner. Experts emphasized blended finance, local currency lending, guarantees, and coordination between development finance institutions and commercial banks to build trade corridors and energy networks.
The progressive implementation of AfCFTA is presented as a major lever to boost intra-African trade, attract investments, and support industrialization. Africa’s population is projected to reach 2.5 billion by 2050, presenting opportunities through its youthful workforce, growing consumer market, and vast natural resources.
However, the continent continues exporting up to 90 percent of raw materials without value addition, limiting industrial development and wealth creation. The various summit engagements aimed to address these structural gaps by promoting investments capable of building productive capacity and strengthening regional value chains.
Key sectors identified for private-sector expansion include mineral value addition, agro-processing, textiles and garments, renewable energy, green industry, and local pharmaceutical manufacturing to enhance health security. Digital transformation features throughout deliberations as an essential enabler of inclusive growth and regional integration.
Mangaluru City Police in India arrested a 39-year-old Nigerian national on suspicion of resuming methylenedioxymethamphetamine (MDMA) distribution operations after securing bail in an earlier narcotics case, authorities announced on Sunday, February 15, 2026.
Peter Ikedi Belonwu faces accusations of violating bail conditions and re-establishing a drug distribution network supplying dealers and students in Mangaluru and neighbouring Kasaragod district. Police reports indicate he procured MDMA from Bengaluru and coordinated deliveries across Karnataka state.
The Central Crime Branch (CCB) launched a targeted operation following intelligence inputs regarding his renewed involvement in narcotics trafficking. Officers seized a substantial quantity of MDMA along with other incriminating materials at the time of arrest. Investigators revealed that Belonwu frequently shifted locations and used multiple mobile phone numbers to evade surveillance.
Belonwu has a documented history of drug trafficking arrests. Police arrested him on October 7, 2024, in Bengaluru’s Dommasandra area, seizing 6.248 kilogrammes of MDMA valued at approximately 6 crore rupees. The raid also recovered three mobile phones, a digital weighing scale, 35 automated teller machine cards, 17 inactive subscriber identity module cards, and 10 bank account passbooks.
Prior to the October 2024 arrest, Bengaluru police had detained Belonwu in 2023 in connection with separate drug trafficking investigations registered at Vidyaranyapura police station. Despite these previous arrests and judicial custody, authorities say he continued illegal operations after obtaining bail.
The October 2024 case began when Mangaluru East Police arrested Haider Ali, aged 51, on September 29, 2024, at a lodge near Pumpwell with 15 grammes of MDMA. Investigation into his supply chain led officers to Belonwu, marking the start of a broader operation that eventually exposed connections to international smuggling networks.
Further investigation revealed links between Belonwu and two South African women arrested on March 14, 2025, in Bengaluru with 37.870 kilogrammes of MDMA valued at 75 crore rupees. The women had been transporting drugs via air routes from Delhi to Bengaluru for 18 months.
Police Commissioner Anupam Agarwal stated that the March 2025 seizure represented the largest drug bust in Karnataka State Police history. During interrogation, Belonwu reportedly identified the South African women as his suppliers.
Karnataka Chief Minister Siddaramaiah commended police efforts, emphasizing the government’s determination to uproot drug networks across the state. Deputy Commissioner of Police K Ravishankar noted that investigations continue to determine smuggling sources and whether suspects operated within a more extensive international network.
Officials emphasized that sustained intelligence gathering and coordinated efforts proved critical to tracking movements. The arrest forms part of intensified enforcement measures to curb drug circulation, particularly among youth populations, with authorities reiterating commitment to strict action against repeat offenders.
Accra Hearts of Oak secured a 1-0 victory over Asante Kotoko at the Baba Yara Sports Stadium on Sunday, February 15, 2026, ending their rivals’ unbeaten home league run and climbing to third position in the Ghana Premier League (GPL) standings despite finishing with ten men.
Defender Baba Adamu scored the decisive goal in the 14th minute, rising highest to meet Martin Karikari’s dangerous set piece and directing the ball beyond Mohamed Camara to silence the packed stadium. The goal proved sufficient as Hearts withstood sustained pressure throughout the match.
Hearts’ task became significantly more challenging when Emmanuel Amankwah received a red card, reducing the Phobians to ten men and forcing tactical adjustments from coach Mas-ud Didi Dramani. The numerical disadvantage shifted momentum toward Kotoko, but Hearts maintained defensive discipline to preserve their advantage.
Goalkeeper Benjamin Asare delivered an authoritative performance that earned him man of the match honours. The Black Stars first-choice goalkeeper commanded aerial balls confidently, organized his defence with calm instructions, and provided crucial interventions when required. His assured display anchored Hearts’ resilient defensive effort.
Kotoko created opportunities but struggled to convert chances into goals. Patrick Asiedu unleashed a fierce effort from a set piece that Asare parried away, while the Porcupine Warriors pushed numbers forward after gaining numerical superiority. Hearts nearly doubled their lead late when Raphael Amponsah raced through on a pass from Frank Duku, but Camara redeemed himself with a sharp stop.
The victory represents Hearts’ first GPL triumph in Kumasi since the 2020-2021 season, breaking Kotoko’s five-match unbeaten home streak against the Phobians. Kotoko had not lost to Hearts in any competition since March 2023, making the result particularly significant for the visitors.
Hearts climbed to third position with 39 points from 22 matches, five points behind league leaders Medeama Sporting Club (SC). Kotoko remained fifth with 35 points, now four points behind Hearts and eight points from the top.
The match took place amid challenging circumstances for both clubs. Kotoko entered following elimination from the MTN FA Cup on Sunday, February 8, after a 4-2 penalty shootout loss to Aduana FC, which prompted head coach Abdul Karim Zito’s resignation on Monday, February 9. Assistant coaches Prince Yaw Owusu and Hamza Obeng assumed interim control.
Hearts arrived riding a four-match unbeaten run built on defensive organization, having conceded only seven goals in 21 matches prior to this fixture. The Phobians secured their FA Cup quarter-final berth while Kotoko suffered early elimination, creating contrasting atmospheres within the two camps.
Referee Daniel Laryea, Ghana’s most accomplished official who recently became the first Ghanaian referee in 54 years to officiate an Africa Cup of Nations semi-final, controlled the encounter assisted by Paul Atimaka and Seth Abletor.
A high-profile delegation from Manhyia Palace, led by Chief of Staff Kofi Badu, Offinsomanhene Nana Dwamena Akenten II, and Bantamahene Baffour Owusu Amankwatia VI, visited the Kotoko squad on Thursday to boost morale. The traditional leaders monitored training at Adako Jachie, interacting with the technical team and players while urging discipline, unity, and confidence.
Kumasi Metropolitan Assembly Chief Executive Richard Ofori Agyemang Boadi also visited Kotoko’s training grounds on Thursday, promising financial rewards for a convincing victory. Despite the motivational support, Kotoko could not overcome Hearts’ determined defensive performance.
The 120th GPL meeting between the historic rivals attracted thousands of fans to the Baba Yara Stadium. The match was broadcast live on TV3, Onua TV, and Max TV, reaching viewers across Ghana.
The result significantly impacts the GPL title race, with Medeama maintaining their lead while Hearts strengthened their position in continental qualification contention. Kotoko face the challenge of regrouping under interim management while attempting to salvage their season.
New Patriotic Party (NPP) flagbearer Mahamudu Bawumia urged party members to forgive one another for harmful statements made during the presidential primaries campaign, emphasizing that reconciliation remains essential as the party prepares for the 2028 general elections.
Speaking at a National Thanksgiving Service held at the University of Professional Studies, Accra (UPSA) auditorium on Sunday, February 15, 2026, Bawumia described the internal contest as peaceful and incident-free despite the intensity of the campaign period. He acknowledged that political contests can create lasting wounds beneath the surface.
The former vice president appealed directly to party faithful to repair relationships damaged during the campaign. He stated that members should forgive unpalatable statements made against one another during the election cycle, emphasizing patience, truth, love, and trust in God rather than retaliation when falsely accused.
Bawumia noted that some members have already initiated efforts to reconnect, stating that while the healing process remains incomplete, genuine reconciliation efforts have begun. He commended party members for steps taken toward rebuilding unity.
The thanksgiving service represented the second major religious observance following Bawumia’s victory in the January 31, 2026 presidential primaries. An Islamic thanksgiving prayer service was held at the National Mosque on Friday, February 13, under the theme Offer to God a Sacrifice of Thanksgiving drawn from Psalm 50:14.
Bawumia secured 110,643 votes representing 56.48 percent of valid ballots cast, defeating four challengers including Kennedy Agyapong who received 46,554 votes or 23.76 percent, Bryan Acheampong with 36,303 votes representing 18.53 percent, Yaw Osei Adutwum who secured 1,999 votes, and Kwabena Agyei Agyepong who obtained 402 votes.
At the Islamic service, Bawumia cautioned that victory in 2028 would not come automatically, emphasizing that success must be earned through discipline, sacrifice, and grassroots mobilization constituency by constituency. He announced plans for nationwide engagement in coming weeks to acknowledge member contributions and reorganize party structures.
Former Suame Member of Parliament Osei Kyei Mensah Bonsu confirmed that Bawumia personally spearheads reconciliation efforts, acknowledging tensions exist in some constituencies. He stated that without a united party, the NPP cannot win the next election, noting that support from floating voters beyond the traditional base remains essential.
Unity walks occurred in Tamale on Saturday, February 14, with participants wearing shirts featuring images of all primary candidates. All four defeated aspirants publicly accepted results and pledged support for Bawumia’s candidacy.
Beyond internal matters, Bawumia appealed to government to prioritize national healing over political retribution. He argued that Ghanaians remain under significant economic pressure, stating the moment calls for lowering political temperatures.
The NPP lost the 2024 presidential election to John Dramani Mahama of the National Democratic Congress, who secured approximately 56 percent of votes while Bawumia received roughly 41 percent. The party holds minority status in parliament with 88 seats compared to 183 for the National Democratic Congress.
Jasikan District police arrested two suspects and seized 1,482 compressed parcels of substances suspected to be cannabis after intercepting a cargo truck with a hidden compartment on Sunday, February 15, 2026, rejecting an 80,000 cedis bribe offered during the operation.
Deputy Superintendent of Police (DSP) Gideon Sena Zowonu led the operation alongside Assistant Superintendent of Police (ASP) Mathew Avemee and five additional officers following intelligence received on Thursday, February 13, that indicated a cargo truck would travel from Hohoe through the Likpe and Jasikan enclave toward Nkwanta between February 13 and 16.
Police surveillance teams spotted and stopped a Mercedes Benz cargo truck with registration number GS 3831-09 at approximately 2:00 pm at Bodada. The vehicle was driven by Amrado Justice Nelson, aged 50, with passenger Onaneye Yussif, aged 25, on board.
An initial inspection revealed an apparently empty cargo area, however, detailed examination uncovered a newly constructed inner compartment. Officers transported the vehicle to Jasikan Police Station and engaged an auto welder to access the concealed section.
The welder cut open the hidden compartment in the presence of both suspects and officers, revealing 1,482 compressed parcels of substances suspected to be cannabis hidden inside. Police reported that during the process, the driver allegedly offered 80,000 cedis to officers in exchange for release, which was declined.
The operation team included Chief Inspector Dennis Felli, Inspector Nobel Adjabeng Quarcoo, Detective Inspector Charles Doe Tetteh, General Lance Corporal Anthony Kyei Frimpong, General Lance Corporal Stephen Konlan Biiche, and General Constable Emmanuel Gbortse.
Both suspects remain detained while the truck has been impounded. The retrieved parcels have been retained as exhibits pending further investigations and laboratory analysis to confirm the substance composition.
The Oti Regional Police Command has conducted multiple narcotics interdiction operations during February 2026. Deputy Commissioner of Police (DCOP) Alex Acquah stated that the command remains committed to sustained operations aimed at eliminating illegal weapons and narcotics. He commended officers involved and appealed to the public to continue providing timely information.
Ghana faces persistent challenges with cannabis trafficking despite legal prohibitions. The Criminal Offences Act of 1960 classifies cannabis possession and trafficking as criminal offenses carrying imprisonment ranging from five to 15 years for possession and minimum 10-year sentences for trafficking.
Bank of Ghana (BoG) Governor Johnson Asiama hosted the 24-Hour Economy Secretariat on Thursday, February 13, 2026, for strategic discussions focused on aligning monetary policy instruments with the government’s flagship economic transformation programme.
The engagement at the central bank’s headquarters explored potential mechanisms to expand financing for Small and Medium-sized Enterprises (SMEs), strategies to stabilize food prices, approaches to managing foreign exchange risks, and opportunities to advance financial innovation across the economy.
Presidential Advisor on the 24-Hour Economy Programme Augustus Goosie Tanoh expressed appreciation to the bank for engaging its leadership and technical teams. He stated that Ghana’s immediate priority involves building a resilient economy anchored on macroeconomic stability, commending the BoG for providing stability required to create platforms for growth and increased economic activity.
Tanoh described the 24-hour economy initiative as a targeted micro-level response to macroeconomic stabilization achieved, citing sustained treasury bill performance and declining inflation as evidence of a strengthening foundation for long-term growth. Recent economic indicators show inflation declined to 21.5 percent in January 2026 from 23.8 percent in December 2025.
A major focus involved the proposed establishment of a Food Security and Price Stabilisation Fund expected to moderate commodity price volatility, reduce food inflation, and enhance national food security while complementing existing monetary policy measures.
Discussions explored practical collaboration areas between the Secretariat, commercial banks, and the central bank. Proposals included developing a 24H+ credit policy and enterprise financing framework, coordinated appraisal of credit requests, syndicated and direct lending opportunities, and balance sheet support for eligible 24-hour enterprises subject to due diligence.
Additional areas covered recognition of credit insurance schemes to strengthen collateral frameworks, regulatory considerations for 24-hour loan portfolios, foreign exchange hedging instruments to support SME lending at reasonable rates, and digital platforms to expand access to trade and finance.
Governor Asiama noted that while the bank’s core mandate remains anchored on maintaining price stability and ensuring financial system soundness, the engagement created room to assess how existing instruments within its legal and policy frameworks could be deployed to complement broader national development objectives.
He reaffirmed the bank’s commitment to structured dialogue, data-driven decision-making, and institutional independence as it collaborates with stakeholders to support Ghana’s economic transformation agenda.
The deliberations are expected to result in key strategic regulatory policy initiatives enhancing the financial services infrastructure under which Ghanaian companies are expected to thrive.
The 24-Hour Economy & Accelerated Export Development Programme, known as 24H+, represents a national development initiative aimed at repositioning Ghana as a competitive, export-driven economy. The programme promotes sustained economic activity to unlock productivity, enhance value addition, and support inclusive long-term growth.
President John Dramani Mahama officially launched the programme on July 2, 2025, targeting creation of at least 1.7 million jobs over four years while requiring over 4 billion United States dollars in investments.
The programme operates through eight sub-programmes including Grow24 for agriculture, Make24 for manufacturing, Build24 for infrastructure, Connect24 for logistics, Fund24 for financing, Show24 for creative economy and tourism, Aspire24 for human capital development, and Go24 for governance.
Bog – Hr Meeting
The Ghana Association of Banks pledged support for the initiative during a Banking Sector Roundtable organized by the Secretariat in September 2025. Chief Executive Officer John Awuah emphasized that the programme’s success is intrinsically linked to the country’s economic performance and banking sector prosperity.
Member of Parliament for Bolgatanga Central Attah Issah stated on Wednesday, February 11, that the government deliberately took time to refine the policy through extensive consultations to avoid over-politicization of economic policies.
President Mahama swore in and inaugurated the Presidential Advisory Group on the Economy (PAGE) on Wednesday, February 11, 2026. The group will support design and implementation of key national initiatives including the 24-hour economy, export development programmes, and productivity-enhancing reforms.
A Computable General Equilibrium analysis published in July 2024 projected that under the 24-hour economy policy, Ghana’s real Gross Domestic Product growth over ten years would be 31.71 percent higher than under a business-as-usual scenario, with the policy generating over 3 million jobs within five years of implementation.
Walewale Member of Parliament Mahama Tiah Abdul-Kabiru has endorsed former Vice President Mahamudu Bawumia as the strongest candidate to lead the New Patriotic Party (NPP) into the 2028 general elections, citing experience and policy depth as decisive advantages.
Speaking to MyNewsGh at a thanksgiving service held days after Bawumia secured the NPP flagbearer position, Abdul-Kabiru stated that the former vice president possesses superior qualifications compared to potential competitors. Bawumia won the party’s presidential primaries on January 31, 2026, securing 110,643 votes, representing 56.48 percent of valid ballots cast.
The Walewale legislator emphasized that leadership extends beyond campaign rhetoric, arguing that Bawumia’s extensive public service record positions him advantageously for the forthcoming electoral contest. Abdul-Kabiru warned that underestimating Bawumia’s electoral viability represents a strategic miscalculation.
Bawumia defeated four challengers including Kennedy Agyapong, who received 46,554 votes or 23.76 percent, Bryan Acheampong with 36,303 votes representing 18.53 percent, Yaw Osei Adutwum who secured 1,999 votes at 1.02 percent, and Kwabena Agyei Agyepong who obtained 402 votes for 0.21 percent. The Electoral Commission declared results following voting at 333 centres nationwide, with 196,462 total ballots cast including 561 rejected votes.
Abdul-Kabiru, a political protégé of Bawumia, holds a Doctor of Philosophy degree from Hiroshima University in Japan and represents Walewale constituency in the North East Region.
Bawumia addressed a National Thanksgiving Service at the National Mosque on Friday, February 13, 2026, calling for party unity and cautioning that victory in 2028 requires sustained grassroots mobilization. He urged party members to prioritize national healing over personal ambition while warning the current government against political retribution.
The former vice president announced plans for nationwide engagement over coming weeks to acknowledge member contributions and reorganize policy structures ahead of the 2028 campaign. He emphasized that the internal contest concluded peacefully, describing it as evidence of the NPP’s maturity as a democratic institution.
All four defeated aspirants publicly accepted results and pledged support for Bawumia’s candidacy. Kennedy Agyapong, Bryan Acheampong, Yaw Osei Adutwum, and Kwabena Agyei Agyepong issued separate statements committing to unified party efforts toward recapturing political power in 2028.
The NPP has initiated reconciliation processes across constituencies to address internal divisions following the competitive primary election. Former Suame Member of Parliament Osei Kyei Mensah Bonsu confirmed that Bawumia personally spearheads efforts to reunite party factions.
Unity walks have occurred in multiple regions including Tamale, where participants wore shirts featuring images of all aspirants to symbolize collective commitment.
The NPP lost the 2024 presidential election to John Dramani Mahama, who secured approximately 56 percent of votes while Bawumia received roughly 41 percent. Party strategists indicate rebuilding requires addressing grassroots demobilization. The NPP holds minority status with 88 parliamentary seats compared to the NDC’s 183 seats.
Minority Leader Alexander Afenyo-Markin has called on government to immediately settle outstanding payments owed to cocoa farmers, stating that producers prioritize receiving funds over policy explanations following recent price adjustments in the sector.
Speaking at a New Patriotic Party (NPP) thanksgiving service on Sunday, February 15, 2026, Afenyo-Markin criticized government reforms that reduced the producer price for the remainder of the 2025-2026 crop season, warning that the adjustment has deepened financial strain on farmers already experiencing months-long payment delays.
Government announced on Thursday, February 12, that the producer price had been adjusted to 41,392 cedis per metric tonne, equivalent to 2,587 cedis per 64-kilogramme bag, representing 90 percent of the achieved free-on-board price of 4,200 United States dollars per tonne. Finance Minister Cassiel Ato Forson stated the measure was designed to cushion farmers against falling global cocoa prices.
Afenyo-Markin, who represents Effutu constituency in parliament, argued that the adjustment worsened conditions rather than providing relief. Farmers previously received 3,625 cedis per bag under rates established in October 2025, meaning the new price represents a reduction of 1,038 cedis per bag.
The opposition leader emphasized that farmers want immediate payment rather than policy discussions, warning that parliament would press the matter in coming days. He stated that every cocoa farmer faces significant financial losses under the revised pricing structure.
Ghana Cocoa Board (COCOBOD) Chief Executive Randy Abbey acknowledged on Friday, February 6, that although COCOBOD has sold over 530,000 tonnes of cocoa for the current season, approximately 50,000 tonnes remain unsold with farmers. He revealed that traditional syndicated funding models had failed, necessitating adoption of hybrid funding approaches to prevent further disruptions.
Payment delays have created severe hardship across cocoa-growing communities. Reuters reported on February 12 that farmers who delivered beans months earlier remain unpaid, forcing some to reduce daily meals. A cocoa purchasing clerk with over 20 years experience described the situation as unprecedented, revealing that farmers who supplied cocoa from November 2025 continuously demand payment for approximately 250 bags still outstanding.
President John Dramani Mahama convened an emergency Cabinet meeting on Wednesday, February 11, to address mounting challenges confronting the sector, including prolonged payment delays, liquidity constraints at COCOBOD, and warnings of potential industry collapse.
The government attributed the price reduction to a sharp decline in global cocoa prices, which halved over the previous year to approximately 4,000 dollars per metric tonne. Ghana’s farmgate price of 58,000 cedis per tonne, equivalent to nearly 5,300 dollars, had depressed demand from international traders, leaving farmers unpaid.
The 2025-2026 season commenced in August 2025 with a producer price of 51,660 cedis per tonne, calculated at 70 percent of a gross free-on-board price of 7,200 dollars per tonne. Following Cote d’Ivoire’s announcement of higher producer prices in October 2025 and exchange rate movements, Ghana revised its farmgate price upward to 58,000 cedis per tonne.
Finance Minister Forson explained that the current adjustment became necessary to reflect world market realities, ensure immediate liquidity injection for expedited farmer payments, and guarantee sector sustainability. He confirmed that despite the reduction, government maintained a high producer share of export earnings at 90 percent of achieved gross free-on-board prices.
The Ghana Cocoa Farmers Alliance of Africa released a statement on February 13 commending government for exploring local solutions rather than seeking International Monetary Fund intervention, as suggested by the parliamentary minority. The alliance described minority calls for external assistance as unacceptable.
Ghana ranks as the world’s second-largest cocoa producer, with the sector supporting hundreds of thousands of rural households while providing critical foreign exchange earnings. The country currently processes between 30 and 40 percent of cocoa beans locally, with government targeting at least 50 percent local processing during the 2026-2027 crop season through revival of state-owned processing company Cocoa Processing Company.
Licensed Buying Companies (LBCs) have experienced operational strain due to financing disruptions, with some scaling back activities or exiting the market entirely, including state-linked Produce Buying Company. Industry analysts emphasize that reliable pre-financing remains critical for maintaining timely purchases and stable export flows.
Nigerian commercial banks are accelerating capital verification processes as the Central Bank of Nigeria (CBN) approaches its March 31, 2026, recapitalisation deadline, with regulatory confirmations now replacing fundraising announcements as the sector’s primary focus.
Activity remained subdued during the week ended February 12, 2026, according to Proshare analysts, as lenders shifted attention from capital raising to regulatory validation. Twenty banks have confirmed compliance with revised thresholds, representing significant progress from the 16 banks that met requirements by December 2025.
FCMB Group Plc is undergoing capital verification by the CBN to determine whether it has achieved the 500 billion naira minimum required for international banking licences. The financial holding company secured its national banking licence in 2024 following an oversubscribed public offering and completed a 160 billion naira equity raise in 2025 as part of efforts to maintain international operations.
The verification follows multiple capital actions over 18 months, including a 147.5 billion naira share sale in 2024. Shareholders approved capital raising authority of up to 400 billion naira, positioning the group to exceed international thresholds subject to regulatory approval.
Sterling Bank has not disclosed its recapitalisation strategy, though analysts anticipate a rights issue or private placement to close the gap between its current 167 billion naira capital and the 200 billion naira requirement.
Guaranty Trust Holding Company (GTCO) completed a 10 billion naira private placement earlier this year, issuing 125 million ordinary shares at 80 naira each to a single institutional investor. Proshare analysts characterized the transaction as proactive capital buffer strengthening rather than regulatory necessity, reflecting sustained investor confidence ahead of tighter industry standards.
First HoldCo Plc released unaudited 2025 financial results highlighting asset quality pressures that rapidly eroded capital buffers through large impairment charges. Analysts noted the results underscore the importance of early capital planning and enhanced governance frameworks as regulatory expectations escalate.
Market speculation during the review period included unconfirmed reports of potential consolidation involving tier-one lenders and bank-led investments in refinery and energy infrastructure projects. Developments remain preliminary but indicate growing interest in diversification and scale advantages.
Smaller and mid-tier institutions are linking recapitalisation to foreign partnerships and mergers. Union Bank has attracted United Arab Emirates investor interest while resolving a legal dispute. Keystone Bank is engaging domestic and international parties regarding joint acquisition. Polaris Bank is expected to pursue investor-led recapitalisation or merge with another tier-two lender.
The CBN appears receptive to mergers and acquisitions as viable pathways for building larger, more resilient banking institutions, according to Proshare’s Economic and Market Intelligence Unit. Domestic investors continue expressing interest in distressed lenders, though analysts suggest foreign partnerships may prove necessary to satisfy unencumbered capital requirements.
The CBN’s latest fintech sector report adds complexity to the recapitalisation narrative by highlighting rapid digital finance growth and regulatory alignment requirements to sustain innovation. For traditional banks, the findings reinforce the need to balance competitive pressures from financial technology companies with partnership opportunities that can expand operational reach and efficiency.
Most tier-one and tier-two banks have achieved revised capital buffers with less than six weeks remaining before the deadline. Tier-three lenders face continued pressure to secure funding or combine operations to maintain competitiveness in the post-recapitalisation landscape.
The banking sector is pursuing approximately 4.14 trillion naira in fresh capital under the recapitalisation programme, which requires international banks to maintain 500 billion naira in paid-up capital, national banks to hold 200 billion naira, and regional banks to secure 50 billion naira. Non-interest banks face distinct targets of 20 billion naira for national operations and 10 billion naira for regional licences.
CBN Governor Olayemi Cardoso confirmed in December 2025 that stress tests conducted throughout the year demonstrated the banking system remains fundamentally robust, with key financial soundness indicators meeting prudential standards. Twenty-seven banks accessed capital markets through public offerings and rights issues during the recapitalisation period.
At least seven banks are reportedly considering licence downgrades to reduce capital requirements. Licence categories determine operational scope, with international banks authorized for cross-border operations, national banks operating nationwide, and regional banks functioning within limited geographic areas.
