New Taxes, Big Loans, and Covid Warnings: What Every Ghanaian Must Know

As July kicks off, Ghanaians are met with a trio of headline developments that will shape the economic and public health landscape. From new taxes at the fuel pump to a massive World Bank bailout and a Covid-19 resurgence, today's Cedi Board® shows why it's time to pay attention to more than just the exchange rate.

GHC1 Fuel Levy Starts July 16 Despite Earlier Suspension

The Ghana Revenue Authority (GRA) has announced the official rollout of the GHC1 fuel levy, effective July 16, 2025. This follows weeks of delay after public backlash and strong criticism from civil society and political groups.

Originally introduced under the Energy Sector Levies (Amendment) Act, 2025 (Act 1141), the levy aims to raise funds to settle debts owed to Independent Power Producers (IPPs), helping prevent a return to the dreaded ‘dumsor’ era.

According to the GRA’s July 1 release:

“Following a thorough review of prevailing market indicators, the implementation of the Energy Sector Levies (Amendment) Act will now commence on July 16, 2025.”

Although government insists the levy will not directly raise pump prices, analysts expect indirect effects unless global oil prices remain stable.

Parliament Approves $360M World Bank Loan to Support Economic Recovery

In a significant financial development, Parliament has approved a $360 million financing agreement with the International Development Association (IDA) of the World Bank to strengthen Ghana’s post-COVID economic rebound.

This Second Resilient Recovery Development Policy Financing (DPF) package is built around three pillars:

• Restoring Fiscal Sustainability – with focus on public financial management and domestic revenue reforms

• Reinforcing Financial & Energy Sector Stability – aimed at addressing structural inefficiencies

• Building Social, Climate & Economic Resilience – especially targeting gender equity and environmental planning

  
  

The agreement offers highly concessional terms:

• 1.25% service charge

• No interest

• 5-year grace period

• 30-year repayment period

  
  

Parliament’s Finance Committee endorsed the package, calling it “vital for macroeconomic stability” and aligned with Ghana’s medium-term debt strategy.

COVID-19 Resurgence Hits University of Ghana: 107 Confirmed Cases

Health Minister Kwabena Mintah Akandoh has confirmed a worrying resurgence of Covid-19 cases, with 107 infections out of 316 suspected cases, the majority centered at the University of Ghana.

Driven by the Omicron variant, this spike was traced back to recent Hall Week celebrations where large gatherings took place with minimal health precautions. Fortunately, no hospitalizations or deaths have been reported.

“We have increased surveillance and launched a campus-wide education campaign,” the Minister told Parliament.

Hall Week activities have now been suspended, and health alerts have been issued nationwide as a precaution.

Market Snapshot (July 2, 2025)

• USD/GHS: ₵10.34 (BOG interbank rate)

• Lipton Yellow Label (25 bags): ₵20.00 (up 11.11% from ₵18 in Nov. 2024)

• 1 oz Ghana Gold Coin: ₵36,244.02 (down ₵8,159.66 from Nov. 2024)

  
  

Investor’s Insight: Rent Out Single Rooms for Steady Income

With urban populations rising, single-room rental units remain in high demand. Converting part of your home or investing in low-cost structures can generate daily income with minimal overhead. Areas near schools, internet cafés, and government offices are ideal.

From rising taxes and strategic loans to renewed pandemic alerts, Ghana’s economy and society are entering a defining phase. Whether you're a student, investor, or everyday consumer, now is the time to plan wisely, stay informed, and adapt.

Stay tuned to the Cedi Board® for real-time updates on Ghana’s financial pulse. From prices and policy to investment tips that help you make sense of the numbers.