Finance

Dr. Nduom confident in Mahama-led NDC to restore GN Bank’s legacy

The Global Chairman of Groupe Nduom, Dr Papa Kwesi Nduom, has expressed confidence that the new National Democratic Congress (NDC) administration, led by John...

Ghana spent nearly half of revenue on debt servicing in 5 years

Ghana spent 42% of its revenue to servicing debt between 2017 and 2022, according to the 2024 United Nations report on Unpacking Africa’s Debt.This...

Bitcoin hits new record high of more than $106,000

Bitcoin has surged to a new record high, extending a rally that has seen the cryptocurrency's price rise by more than 50% since Donald...

We won’t abandon IMF programme – Mahama

President-elect, John Dramani Mahama, has reassured Ghanaians that his administration will not abandon the ongoing International Monetary Fund (IMF) programme.In an interview with VOA...

SikaFX launches revolutionary money transfer services in Ghana

SikaFX, an innovative money transfer platform, is excited to announce its launch in Ghana’s financial sector.The company’s goal is to streamline international remittances, providing...

Elon Musk’s record $447 billion fortune means he’s nearly $200 billion ahead of Jeff Bezos

Elon Musk is nearly $200 billion richer than Jeff Bezos, and personally worth more than Costco, after adding $63 billion to his fortune in...

There are positive signals that Ghana’s economy is bouncing back to pre-Covid-19 era – Seth Terkper

The former Finance Minister, Seth Terkper, says there are positive signs that Ghana’s economy is progressing.During the inauguration of the transition team in Accra...

Mahama to renegotiate IMF, World Bank deals

President-elect John Dramani Mahama has pledged to review and adjust Ghana’s existing agreements with development partners to align with the country’s current needs and...

NPP borrowed more than GHS1 trillion between 2017 and 2024 NOT GHC 622 billion

Claim: X user @scottbolshevik claims that from 2017 to now, Ghana has borrowed over GHC 622 billion, with the Bank of Ghana illegally printing GHC...

Misleading! Mahama didn’t leave office with debt-to-GDP ratio at 56%, inflation at 15%, unemployment rate at 8%

Claim 1:  A Facebook user claims John Mahama, the NDC 2024 flagbearer, left office on January 6, 2017, when Ghana’s debt-to-GDP ratio was 56%. Verdict: False!Explanation Data from...

False! Ghana 7th not 3rd, most food-secure African country

Claim: At the final rally of the New Patriotic Party (NPP) on Dec. 5, 2024, the flagbearer, Dr Mahamudu Bawumia, said: “If you ranked...

Debt restructuring losses to be recovered in 2026 – Amin Adam assures

The government has assured Ghanaians impacted by investment losses linked to the debt restructuring program, stemming from the COVID-19-induced economic downturn, that their losses...

Ghana’s fiscal performance on track to achieve primary surplus of 0.5% of GDP – IMF

The International Monetary Fund (IMF) has revealed that Ghana’s fiscal performance is on track to achieve a primary surplus of half percent of Gross...

IMF Board passes Ghana on 3rd programmme review; approves disbursement of $360m

The International Monetary Fund (IMF) Board has passed Ghana on the third programme review and approved disbursement of some US$360 million to Ghana.This was...

AOMC CEO urges struggling OMCs to merge for a stronger industry

The CEO of the Association of Oil Marketing Companies (AOMCs), Dr Riverson Oppong, has called on underperforming Oil Marketing Companies (OMCs) to consider merging...

Akufo-Addo commissions new Bank of Ghana headquarters [Photos]

President Akufo-Addo on Wednesday 20th November 2024 commissioned the new state-of-the-art headquarters of the Bank of Ghana(BoG) in Accra, marking a significant milestone to...

Jospong Group seeks $400 million Afrexim Bank funding for Africa projects

The Jospong Group of Companies (JGC) has revealed plans to secure a $400-million facility from the African Export-Import Bank (Afrexim Bank) for comprehensive waste...

Apple accused of trapping and ripping off 40m iCloud customers

Apple is facing a legal claim accusing it of effectively locking 40 million British customers into its iCloud service and charging them "rip off...

Bitcoin tops record $80,000 as Trump nears sweep of US Congress

The price of bitcoin has risen above $80,000 (£62,000) for the first time ever, after Donald Trump's decisive victory in the US election last...

VP Bawumia launches Credit Scoring System for Ghana

The Vice President and Presidential Candidate of the NPP, Dr Mahamudu Bawumia, has launched myCreditScore, a personalised credit reference and scoring system for Ghanaians. Backed...

Labadi Beach Hotel shines with another record-breaking dividend payout of GH¢16.5m to SSNIT

Ghana’s top five-star destination, Labadi Beach Hotel, proudly announced a milestone dividend payment of GH¢16,509,000 to its shareholder, the Social Security and National Insurance...

ADB temporarily closes Bawku branch amid rising security concerns

The Agricultural Development Bank PLC (ADB) has announced the temporary closure of its branch in Bawku, citing escalating security concerns in the area.In a...

Japan’s ruling party loses its majority in blow to new PM

The coalition led by Japan’s ruling Liberal Democratic Party (LDP) has lost its majority in parliament, its worst result in over a decade. The LDP...

IMF Board to review Ghana’s Programme for $360m disbursement on Dec. 2

Finance Minister Dr. Mohammed Amin Adam has disclosed that the IMF Board is scheduled to meet on December 2, 2024, to discuss Ghana’s Third...

Ghana to record end-year inflation of 15.0% in 2024 – IMF

Ghana is expected to record an average inflation of 19.5% in 2024, the International Monetary Fund (IMF) has revealed.In its World Economic Outlook, it...

IMF warns world to avoid global trade war

The world economy could contract by the size of the combined French and German economies, if there is a broad-based trade war between the...

Ghana lost over GH₵4.9bn to financial irregularities in 2023 – IMANI Africa

Ghana recorded financial losses exceeding GH₵ 4.9 billion in 2023 due to irregularities within public institutions, according to a report released by policy think...

Nigeria: Charges against Binance cryptocurrency boss dropped

Nigeria’s anti-corruption agency has dropped a money-laundering case against a top cryptocurrency executive to allow him to get medical treatment abroad.Tigran Gambaryan, a US...

Next of Kin of a deceased bank account holder is not automatic beneficiary – BoG

Did you know that if you are made the next of kin of a bank account by a friend or relative, you do not...

Togo suspends Russian ride-hailing app Yango

Togo's transport ministry suspended the ride-hailing app Yango owned by Russia's tech giant Yandex, over security concerns just months after it began operating in...

Ghana’s policy rate of 27% highest in Africa – World Bank

Ghana’s monetary policy rate of 27.0% is the highest in Africa, the World Bank has revealed.In its latest October 2024 Africa Pulse Report, the...

Chinese mining company to acquire Ghana’s Akyem gold mine from Newmont in $1 billion deal

China's Zijin Mining Group is poised to acquire the Akyem gold mine project in Ghana from US-based Newmont Corporation in a $1 billion deal.The...

AfCFTA: Disbursement of $1bn Adjustment Fund expected to commence early 2025

The African Continental Free Trade Area (AfCFTA) is expected to commence the disbursement of its adjustment fund to Ghana or any other member state...

Insurance Brokers’ services are free to clients; use them – IBAG advises public

The Insurance Brokers Association of Ghana (IBAG) has warned of a growing trend where non-professional institutions, particularly financial institutions, are selling insurance products, often...

Taylor Swift becomes richest female musician with net worth of $1.6 billion

Taylor Swift has surpassed Rihanna to become the world’s richest female musician, with a net worth estimated to be a whopping $1.6 billion.Swift’s ascent was confirmed on...

Ghana loses $2.4bn to galamsey annually – Prof. Bokpin

A professor of Economics and Finance at the University of Ghana Business School, Prof Godfred Bokpin has revealed that the state loses more than $2.4...

Significant number of Eurobond holders opt for disco option in debt restructuring deal

A significant number of bondholders who participated in the Eurobond Debt Exchange Programme opted for the disco menu of new notes.This means that the...

OpenAI value surges to $157bn in funding deal

OpenAI, the maker of ChatGPT, has raised $6.6bn in its latest funding round, as investors including its early backer Microsoft continue to bet big...

Bank of Ghana launches Gold Coin to provide investment opportunities for Ghanaians 

The Bank of Ghana (BoG) has launched the Ghana Gold Coin (GGC) to create alternate investment for Ghanaians.The GGC is a coin manufactured from...

Over 29,000 gambling ads in Premier League weekend – Research

The number of betting adverts during the opening weekend of the Premier League season almost trebled compared to last year, new research says.Researchers analysed...