These notwithstanding, there were noteworthy developments in these sectors in 2024. These included Springfield’s completion of appraisal works on the Afina discovery;  operationalisation of Ghana’s first major private oil refinery;signing of agreements towards the establishment of a decommissioning fund for the Jubilee Field signing of agreements and sod-cutting for the development of Phase I of the Petroleum Hub project in the Jomoro Municipal Area in the Western Region; presentation of bills to Parliament to restructure the power sector including proposals to merge existing state-owned power generation and distribution companies; commencement of processes to establish Ghana’s first manganese refinery and alumina refinery; commissioning of Ghana’s first gold refinery with state participation and Ghana’s largest bitumen processing plant; and Newmont’s sale of its Akyem mine to Zijin Mining Group.

 

The year also proved to be significant as critical pending legal disputes were concluded: (i) ENI/Vitol obtained a favourable award quashing Ghana’s Minister of Energy’s directives issued to the OCTP partners for the unitisation of the OCTP field with Springfield’s Afina discovery; and (ii) Tullow Ghana Limited obtained a favourable award from the International Chamber of Commerce (ICC) in connection with its prolonged dispute with the government over a branch profit tax assessment of USD 320 million. 

Regarding Infrastructure, the La General Hospital project and the reconstruction and expansion of the Tema Motorway commenced in 2024 as projected in our 2024 Outlook. Further,  Ghana’s infrastructure sector  saw the procurement of new trains for Ghana’s railway transportation system; commissioning of the 97-kilometre standard gauge Tema-Mpakadan railway line; launching of a performance tracker to promote transparency and accountability in infrastructure projects across Ghana; completion and operationalisation of the Kumasi International Airport; inauguration of a multi-million-dollar integrated recycling and composting plant in the Ho municipality in the Volta Region; the completion of the Tema Motorway flyover project; and the near completion of the 200 affordable housing units at Amrahia in the Greater Accra Region.   

On regulatory developments, the National Roads Authority Act, 2024 (Act 1118) was passed as predicted to establish the National Roads Authority as a unified body consolidating the mandates of the three key agencies of the Ministry of Roads and Highways (the Ghana Highway Authority, the Department of Urban Roads, and the Department of Feeder Roads). Act 1118 makes the new authority responsible for the planning, development, maintenance and management of the national road network in Ghana and provides for other matters. However, the fate of the new law now hangs in the balance following the suspension of its implementation by the government this month to allow for further engagement after major concerns were raised by some key stakeholders.

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Additionally, the following laws relevant to the focus sectors came into force in 2024:

• Ghana Shippers Authority Act, 2024 (Act 1122) – repeals the Ghana Shippers’ Authority Act, 1974 (NRCD 254), establishes the Ghana Shippers' Authority to regulate the commercial activities of shippers and shipping service providers in the shipment, storage and delivery of international trade cargo by sea, air and land, and provides for related matters;

• Ghana Civil Aviation Act, 2024 (Act 1120) – repeals the Ghana Civil Aviation Act, 2004 (Act 678) and its amendments, reviews and consolidates the laws relating to civil aviation, establishes the Ghana Civil Aviation Authority to regulate aviation safety and security, and provides for related matters;

• Fisheries (Port State Measures) Regulations, 2024 (LI 2490) – combats illegal, unregulated and unreported fishing, gives effect to the implementation of the Port State Measures Agreement to deter, prevent and eliminate illegal, unregulated and unreported fishing, and provides for the conservation, utilisation and management of fisheries resources;

• West African Gas Pipeline (Amendment) Regulations, 2024 (LI 2489) – amends the West African Gas Pipeline Regulations, 2005 (LI 1814) by increasing the intervals required for the inspection and testing of “Vital Equipment”, being equipment whose failure can cause certain prescribed hazards under the law, by the West African Gas Pipeline Company Limited or another person engaged by it; and

• Aircraft Accident and Incident Investigation and Prevention Regulations, 2024 (LI 2483) – provides for, among others, the conduct of an investigation of an aircraft accident or incident, and the rights, privileges and status of persons attending investigations of aircraft accidents and incidents.

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The Environmental Protection Act, 2025 (Act 1124) was passed on January 2, 2025. The Act, which has recently received presidential assent, amends and consolidates laws relating to environmental protection; establishes the Environmental Protection Authority to regulate and protect the environment; provides for pesticide control and regulation; provides for the control, management and disposal of hazardous, electrical and electronic waste; provides for the co-ordination of climate change responses; and provides for related matters.