Business

Seshasayee Paper and Boards Ltd saw its profit drop 21.3 percent in the second quarter of fiscal 2026 compared with the same period a year earlier. The manufacturer posted a net profit of 22.4 crore rupees, down from 28.5 crore rupees, according to a regulatory filing released on Saturday. Revenue fell 13.1 percent to 346.3…

The Ghanaian cedi traded at an average buying rate of 10.62 cedis and a selling rate of 11.35 cedis per dollar on Friday, October 24, 2025, according to Cedirates.com. Foreign exchange bureaus quoted 12.10 cedis for purchases and 12.60 cedis for sales, while the Bank of Ghana interbank market showed 10.79 cedis for buying and…

Ghana canceled permits for 278 small-scale mining operations on Wednesday after companies broke rules or failed to renew licenses. The Minerals Commission acted under the authority of the Minister, in accordance with provisions of the 2006 mining law and the 2012 regulations. Officials said that expired permits made the company’s activities illegal. The government seeks…

Ghana’s fintech sector must balance technological advancement with consumer safeguards as digital financial services expand across the country. MobileMoney LTD Chief Executive Shaibu Haruna told the 2025 Fintech Stakeholder Forum that citizens avoid mobile platforms because they fear fraud and data theft despite broader access to credit. Regulators, banks, and technology companies met in Accra…

MTN Ghana will use blockchain systems to stop mobile money fraud and verify customer identities at the 2025 Fintech Stakeholder Forum in Accra. Chief Product Officer Sylvia Otuo-Acheampong said the technology tracks transactions from start to finish and prevents criminals from stealing money through agents before detection occurs. The telecommunications company clarified that blockchain differs…

Ghana’s currency gained 37 percent against the dollar this year after the central bank tightened fiscal controls and improved foreign exchange management. Commercial banks quote rates between 10.70 and 10.85 cedis per dollar while retail exchanges charge approximately 10.95 cedis. Producer price inflation fell to 3.2 percent in September from above 30 percent a year…

Uganda must prioritize value addition to compete in export markets and advance manufacturing, Planning Minister Amos Lugoloobi said on Friday at the National Competitiveness Forum in Kampala. Producers need better processing facilities, standardized products, and superior packaging to reach regional buyers and global consumers. The country cannot manufacture enough processed foods or animal feed supplements…

Uganda launched its first Sugar Industry Stakeholders Council on Friday, with Trade Minister Francis Mwebesa leading the ceremonies. The body operates under the Sugar Amendment Act of 2025 and unites millers, farmers, regulators and officials to coordinate sector development. The council will oversee licensing procedures, create a master plan for the industry, establish pricing standards…

Uganda will access up to 7 trillion shillings in concessional loans from the International Monetary Fund and the World Bank over three years, following the end of a two-year suspension. Treasury Secretary Ramathan Ggoobi said officials demonstrated the nation’s economic stability and growth prospects to lenders who rank Uganda among Africa’s fastest-expanding economies. The World…

Uganda generates 700,000 metric tons of sugar each year, with Trade Minister David Bahati announcing the figures at the National Sugar Council inauguration. Domestic markets absorb 450,000 tons while exporters ship 250,000 tons abroad. The sector directly employs over 20,000 workers and indirectly supports another 150,000 jobs. Annual tax revenue reaches 500 billion shillings, accounting…