Fuel Levy Rise, Cocoa Price Fight, and Digital Loan Crackdown!

Ghana’s economic landscape on June 4th 2025 is buzzing with significant developments, from a new energy levy to cocoa farmer demands and upcoming digital lending regulations

4th June, 2025 Cedi Board

Parliament Approves GH₵1 Fuel Levy to Tackle $3.1bn Energy Debt

On June 3, 2025, Ghana’s Parliament passed the Energy Sector Levy (Amendment) Bill, 2025, introducing a GH₵1 increase in the levy on petroleum products.

According to Finance Minister Dr. Cassiel Ato Forson, this measure aims to generate GH₵5.7 billion in revenue to address the energy sector’s $3.1 billion debt. Clearing the arrears fully requires $3.7 billion, and an additional $1.2 billion is needed for fuel procurement to ensure thermal power generation in 2025.

Speaking on the floor of Parliament, Dr. Forson assured that the levy hike will not increase the ex-pump price of fuel, currently at GH₵12.5/litre for Super XP as per Finex Skills Hub.

However, the Minority Caucus opposed the levy, labelling it "inappropriate" and staging a walkout, arguing the Majority lacked the numbers for a binding decision. Critics, including the

Minority have dubbed the levy "e-levy promax," questioning the government’s promise of an economic reset. Related concerns include calls for the Energy Minister to focus on cutting sector waste rather than imposing new taxes, as petroleum taxes often disproportionately affect low-paid formal sector workers without fuel allowances.

Cocoa Farmers Demand 70% of FOB Price Amid Upcoming Price Review

Ghanaian cocoa farmers, represented by the Ghana National Cocoa Farmers Association, are intensifying calls for the government to guarantee at least 70% of the Free-On-Board (FOB) price as payment to local producers. This demand aligns with constitutional provisions, as highlighted by Association President Stephenson Anane Boateng in an interview with Citi Business News.

Boateng emphasized that cocoa farmers’ contributions to Ghana’s economy, the world’s second-largest cocoa producer, are undervalued by current pricing models.

The renewed appeal follows President John Dramani Mahama’s promise during a Thank You tour in the Ahafo Region on Saturday, announcing a “significantly improved” cocoa producer price to be revealed in August 2025.

The previous NPP administration had raised the price in November 2024 from GH₵48,000 to GH₵49,600 per tonne (GH₵3,000 to GH₵3,100 per 64kg bag). However, farmers remain cautious, with Boateng questioning successive governments’ pricing proposals. He also criticized large-scale commercial cocoa farming initiatives, citing the failure of past state farms under Dr. Kwame Nkrumah and warning against crowding out smallholder farmers without clear long-term strategies.

BoG to Roll Out Digital Lending Guidelines by August 2025

In a bid to protect Ghanaians from exploitative online lending practices, the Bank of Ghana (BoG) is finalizing comprehensive digital lending guidelines, set for release by August 2025. BoG Governor Dr. Johnson Asiama announced this during a post-124 Monetary Policy Committee meeting in Accra on June 3, 2025. The move targets the rising issue of hidden fees, harassment, and scams by online lending platforms, which disproportionately affect young people and informal workers.

Dr. Asiama emphasized the need for clear, enforceable standards, stating, “We’ve received reports of individuals being threatened, shamed, or scammed, all under the guise of accessing quick loans. We cannot allow this to continue.”

The guidelines will cover licensing, interest rate transparency, data protection, customer privacy, and ethical recovery practices. The BoG aims to protect vulnerable borrowers while enabling responsible digital lenders—both banks and fintech partners, to thrive. Institutions involved in digital lending are urged to prepare for compliance to foster a fair and dignified lending environment.

Economic Snapshot: Prices and Trends

The "Cedi Board" provides a snapshot of Ghana’s economic indicators as of June 04, 2025:

• Cement Prices (42.5R): GH₵105-127, averaging GH₵109.4 across 10 manufacturers, a 14.25% decrease from GH₵146.60 in June 2024.

  
  

• Fuel (Super XP): GH₵12.5/litre down by 14.25% from GH₵14.60/litre

  
  

• USD/GHS Exchange Rate: GH₵10.26 (BoG interbank selling rate, June 03, 2025).

  
  

• BoG 1 oz Gold Coin Price (GHS): GH₵35,696.75, a 6-month low, down from GH₵53,394.75 in November 2024.

  
  

These figures reflect ongoing economic pressures, with the #Dumsor levy trending as a focal point of public discourse on power reliability and cost of living.

Ghana’s economic updates on June 4th 2025 highlight the government’s efforts to address energy debts, support cocoa farmers, and regulate digital lending. However, challenges remain, from public opposition to the fuel levy to farmers’ demands for fair pricing and the need for consumer protection in online lending.

As these policies unfold, their impact on Ghanaians’ livelihoods and the broader economy will be closely watched.

Stay tuned for more daily Cedi Board updates on Ghana’s economic landscape.