Bussiness
Fuel price hikes, weak cedi put airline industry under strain
Players in the Aviation industry say they are hard hit by the high cost of fuel praying for urgent relief from government to cushion them.
From the beginning of the year to now, there has been an increase of 112 percent in aviation fuel, Corporate Affairs Manager of Passion Air, Samuel Takyi, told B&FT.
“With the aviation fuel, for example in May we purchased fuel to the tune of US$350,000 for our operations. In June it shot up to US$750,000,” he bemoaned.
The problem, according to him, is exacerbated by the Cedi slide, as 98 percent of their transactions are quoted in foreign exchange, but tickets are sold in cedis.
“So, once you covert the cedi to dollars you take a hit right there,” he added.
The Institute of Energy Security is predicting an insignificant drop in fuel prices on the Ghanaian market despite the drop in global fuel prices.
IES said this will be so if the cedi remains weak against major trading currencies.
Crude Oil price has dropped by 4% in recent weeks however, the cedi continues to struggle on the forex market as it closed trading close to 10 cedis per dollar.
Source: starrfm.com.gh
Bussiness
Global Market Volatility: Gov’t absorb GH¢2.00 per litre on diesel and GH¢0.36 per litre on petrol
Effective Thursday, April 16, 2026, which is the next pricing window, the Government will absorb GH¢2.00 per litre on diesel and GH¢ 0.36 per litre on petrol.
This intervention is intended to cushion customers and ease the cost burden on households, transport operators, and businesses.
The measure, approved by Cabinet, is in response to rising prices of petroleum products on the international market, which have significantly impacted ex-pump prices in Ghana.
This temporary intervention will remain in force for a period of one (1) month.
During this period government will continue to closely monitor developments in the global oil market and assess the need for further policy adjustments.
A statement signed by Minister of Government Communications, Felix Ofosu Kwakye noted that they remain commited to maintaining price stability, protecting livelihoods, and supporting Ghana’s economic recovery in the face of external shocks.
Ghana’s gold and minerals sector is set for a major spotlight as Meetings. Co, in partnership with key industry stakeholders, announces the Mining & Minerals Convention 2025, scheduled from August 26-27, 2025, at the Kempinski Hotel Gold Coast City, Accra.
Held under the theme “Shaping the Future of Ghana’s Gold Industry,”‘ the Convention will convene government leaders, regulators, miners, refiners, investors, sustainability partners, innovators, and responsible mining, and global competitiveness,policy experts to explore strategies that position Ghana’s gold industry for long-term growth.
The two-day convention will feature presidential and ministerial keynote addresses, industry thought leadership, technical paper presentations, policy dialogues, fireside chats, exhibitions, and high-level networking sessions.
Convention delegates can anticipate a dynamic and insightful experience, marked by thought leadership from leading policymakers and regulators, in-depth discussions on key topics such as sustainability, ESG, digital gold, and responsible sourcing, as well as valuable opportunities to forge public-private partnerships and investment deals.
Moreover, the event will offer practical action points aimed at unlocking greater economic value for Ghana.
The 2025 edition will be supported by a strong coalition of strategic partners, including the Ministry of Lands and Natural Resources, the Minerals Commission, GoldBod, the Minerals Income and Investment Fund (MIIF), and the Ghana Extractive Industries Transparency Initiative (GHEITI).
