Cedi to end 2024 at GH¢15.91 to a dollar – Report
Research firm, IC Securities has revised its end-2024 US dollar to Ghana cedi rate to GH¢15.91/US$, from its initial forecast of GH¢13.2/US$.This, it said,...
IMF deal couldn’t have been secured without DDEP – BoG
The Bank of Ghana (BoG) has clarified that securing a bailout from the International Monetary Fund (IMF) would have been challenging without the implementation...
DDEP impacts BoG as bank seeks early recapitalisation – Report
The Bank of Ghana has been impacted by the Domestic Debt Exchange Programme (DDEP) as it seeks recapitalisation from development partners, a report has...
Bank of Ghana suffers GH₵10.5 billion loss in 2023
The Bank of Ghana has announced a loss of GH₵10.50 billion for the financial year ending 2023.This significant loss is primarily attributed to an...
My cedi depreciation a ritual problem statement taken out of context – Minister
Deputy Minister for Finance, Dr Stephen Amoah, has clarified that his statement that the cedi depreciation is a ritual problem has been taken out...
Bank of Ghana explains inflation dynamics [Video]
The Bank of Ghana has initiated a program to explain the dynamics of inflation.Additionally, the Central bank has offered insights into how it determines...
BoG to demand list of all interested parties in any sale of SG Ghana shares
The Governor of the Bank of Ghana (BoG) Dr. Ernest Addison has revealed that the Central bank will demand for a list of all...
Cedi depreciation: Black market dealer reveals deep secret
An illegal foreign exchange dealer, operating in the ‘black market,’ is blaming some banks in the country for the constant depreciation of the cedi...
Fiscal discipline critical for economic confidence – BoG
The Bank of Ghana (BoG) has highlighted the importance of maintaining strict fiscal discipline to enhance economic confidence.This statement comes at a time of...
Monetary Policy Committee of BoG keeps policy rate at 29 percent
The Monetary Policy Committee of the Bank of Ghana (BoG) has kept the policy rate at 29 percent.Addressing the media, Governor of the BoG,...
Govt approves GH¢2.3bn to restructure and recapitalise NIB
Cabinet has approved GH¢2.3 billion for the restructuring and recapitalisation of the National Investment Bank (NIB).The amount is the first tranche of GH¢400 million...
Ministry of Finance, BoG working to address cedi depreciation – Amin Adam
Finance Minister, Dr. Mohammed Amin Adam, has assured that the Ministry of Finance is working with the Bank of Ghana to implement measures to...
Gov’t meets zero Central Bank borrowing and non-concessional borrowing limit
Finance Minister, Dr. Mohammed Amin Adam has pointed out the government met some key fiscal targets under the International Monetary Fund-supported programme.They include zero...
Tanker drivers strike: COPEC warns of possible fuel shortage
The Chamber of Petroleum Consumers (COPEC) has warned of a potential fuel scarcity should the ongoing concerns of the striking Ghana National Petroleum Tanker...
Mobile money accounts with commercial banks hit GH¢18.69bn in March 2024
The 2024 Fintech Sector Report released by the Bank of Ghana has shown that the total value of mobile money accounts with commercial banks...
IMF programme blamed for the cedi’s decline
Professor Godfred Bokpin, an economist and finance expert, has attributed part of the cedi’s depreciation to the International Monetary Fund’s (IMF) programme with Ghana.He...
Banks deny engaging in practices contributing to cedi’s depreciation
The Managing Director and Chief Executive of FirstBank Ghana, Victor Yaw Asante has rejected claims that some banks are actively engaged in practices that...
Patronise local tourism to stabilise Cedi – Deputy Finance Minister to Ghanaians
Deputy Finance Minister Dr. Stephen Amoah has emphasised the importance of leveraging domestic tourism to stabilise the depreciating cedi.He is thus urging stakeholders in...
Central Bank completes first proof of concept as part of Project DESFT
The Bank of Ghana (BoG) has completed the first Proof Of Concept (POC) as part of Project Digital Economy Semi-Fungible Token (DESFT).It demonstrates the...
Order your appointees to release FX stashed in their homes – Ato Forson to Akufo-Addo
Minority Leader, Dr Cassiel Ato Forson, has called on President Akufo-Addo to promptly instruct his appointees who have hoarded foreign exchange to release them.He...
Cedi depreciation: How $1 reached GH₵15
The Minority has expressed concerns that the current challenges facing the Ghana cedi are far from resolved, warning that the situation is expected to...
Market sentiments contributing to cedi depreciation – Lord Mensah
Economist at the University of Ghana Business School, Prof Lord Mensah has attributed the current depreciation of the cedi to market sentiment.According to him,...
Fitch revises outlook on Zenith, Access, 3 others to positive
Fitch Ratings has revised the Outlook on the Long-Term Issuer Default Ratings (IDRs) of five Nigerian banks and one bank holding company to positive...
CalBank temporarily suspends GH¢600m capital raising
Cal Bank Plc has temporarily suspended the remaining processes for completion of the Capital Raise, notably the allotment of shares.This follows a court injunction...
ECOWAS Bank to inject $200m into Ghanaian economy
The ECOWAS Bank for Investment and Development (EBID), has strengthened its transformative partnership with Ghana by committing to inject $200 million into the Ghanaian...
IEA’s Dr Kwakye proposes solution to cedi depreciation
The Director of Research at the Institute of Economic Affairs (IEA), Dr John Kwabena Kwakye, has suggested adopting the dollar as Ghana’s currency to...
CBG commissions Sickbay Project at Berekum
Consolidated Bank Ghana Limited (CBG) has officially launched the CBG Sickbay Project by commissioning an ultra-modern sickbay at Methodist Senior High/Technical School in Berekum.This...
Grenada Prime Minister in Ghana for 3iAfrica Summit
The Prime Minister of Grenada, Dickson Amiss Thomas Mitchell is in Ghana for the 3iAfrica Summit.The summit will take place between Monday, May 13...
Risk of stronger US dollar could affect Emerging Markets credit momentum – Fitch
Ratings agency Fitch Ratings believes a sustained period of US dollar strength against emerging market (EM) currencies including Ghana could weigh on some EM...
Former UMB boss Nana Dwemoh Benneh appointed CEO of GIIF
The former Managing Director of UMB Bank, Nana Dwemoh Benneh has been appointed by President Akufo-Addo as the Chief Executive Officer of the Ghana...
Nduom hints at #BringBackGNBank nationwide campaign
The Global Chairman of Groupe Nduom, Dr Paa Kwesi Nduom has hinted at an impending nationwide tour seeking to campaign for the return of...
Bawumia urges African countries to learn from Ghana’s use of digitalisation in corruption fight
Vice President and flagbearer of the New Patriotic Party, Dr Mahamudu Bawumia has urged African countries to emulate Ghana’s digitalisation agenda which has been...
OmniBSIC offers lowest interest rate on loans to SMEs – BoG
A new report by the Bank of Ghana has shown that OmniBSIC Ghana Ltd provided the lowest interest rate of 33.06 percent on loans...
Outcry in Nigeria as government introduces money transfer levy
Many Nigerians have condemned the introduction of a new levy on electronic banking transactions, with some saying it will push them back to using...
Société Générale denies exiting Ghana
French-based multinational financial services company, Société Générale, has dismissed rumours suggesting it's pulling out of the Ghanaian banking sector.It has described the rumour as...
Absa Bank launches money matters initiative to bolster financial literacy among the youth
In a move to address critical gaps in financial literacy among Ghana’s youth, Absa Bank Ghana has unveiled its Money Matters Initiative.Launched at a...
Cedi hits GH¢14.18 to a dollar; year-to-date loss reaches 13.45%
The depreciation of the cedi to the dollar continued unabated as the local currency hit GH¢14.18 to the American greenback on the retail market.This...
Beige-Bank trial: Receiver did not engage financial department before collapsing bank
David O. Sogbodjor, former Finance Manager of the defunct Beige Bank has told the High Court trying the former Chief Executive Officer (CEO) that the receiver during...
NDC to establish a Women’s Development Bank if electedÂ
The National Democratic Congress (NDC) has announced plans to establish a Women's Development Bank if elected into power in the December 7th general elections. The running mate...
Cedi hits GH¢14.00 to a dollar; depreciates 12.08%
The Ghana cedi has hit GH¢14 to a dollar as the depreciation pressures continue unabated.This has culminated in its year-to-date loss of about...