SML sets records straight on GRA contract [Listen]
Strategic Mobilisation Ghana Limited (SML), a privately-owned Ghanaian company, has set the record straight on its contract with the Ghana Revenue Authority (GRA).In...
Philips pays $1.1bn to settle respirator case
Dutch medical products maker Philips says it has reached a $1.1bn (£877m) deal to settle lawsuits in the US relating to potentially faulty breathing...
KPMG’s report on GRA and SML deal, government white paper on report and matters arising
BackgroundThe Ghana Revenue Authority (GRA), we understand, contracted SML to monitor petroleum liftings and assure that volumes lifted declared for tax purposes by Oil...
SSNIT responds to claims of depleting reserves
In the wake of recent concerns regarding the depletion of its reserves, the Social Security and National Insurance Trust (SSNIT) has stepped forward to...
PPA Clarification: The dark side of the World Bank’s ‘giveaways’ in Ghana by Bright Simons
The Attention of the Public Procurement Authority (PPA) has been drawn to an article on the website of the African Report with title “Opinion: The...
Google accused of making it harder to search for rival
Google has been accused of taking advantage of its market dominance to make it harder to search for a rival email service.Tuta Mail -...
Bright Simons: Where is the KPMG report on SML contract audit?
In the wake of revelations by audit firm KPMG on its probe of the controversial contract between the Ghana Revenue Authority (GRA) and Strategic...
SML/GRA contract brought GH¢2.45bn in tax revenues to the state – KPMG report
KPMG's audit report has revealed that the revenue assurance contract between the Ghana Revenue Authority (GRA) and Strategic Mobilisation Limited (SML) has resulted in...
Renegotiate SML contract – Akufo-Addo to GRA, Finance Ministry
President Akufo-Addo has instructed the Ghana Revenue Authority (GRA) and the Ministry of Finance to renegotiate the revenue assurance contract with Strategic Mobilisation Limited...
‘Dumsor’: Power crisis requires more than financial remedies – NPP Manifesto Committee member
The Chairman of the New Patriotic Party's (NPP) 2024 Manifesto Committee on Energy, Kwadwo Nsafoah Poku, has debunked suggestions that the current challenges with...
Apple faces declining sales in China as Huawei soars
Huawei is not only making a roaring comeback in China, it is also on the verge of overtaking Apple in the world’s largest smartphone market.The Shenzhen-based conglomerate,...
Cedi to bounce back to appreciating trajectory soon – Fitch Solutions
Fitch Solutions, an international rating agency, says the Ghanaian cedi will bounce back to an appreciating trajectory very soon.The rating agency said factors, notably...
PAC orders Wa West DCE to release MP’s common fund immediately
The Public Accounts Committee (PAC) of Parliament has instructed the District Chief Executive of Wa East District Assembly, Mr. S.K Mahama to immediately process...
Single ECG revenue account won’t solve power crisis – John Jinapor
Ranking Member on Parliament’s Mines and Energy Committee, John Jinapor, has said that the Finance Ministry’s decision to put all of the Electricity Company...
Ghana’s economy heading towards stability – Finance Minister
Ghana's Minister of Finance, Dr. Mohammed Amin Adam, has announced that the country's economy is moving towards stability, citing robust economic progress and strong...
Ghana nears agreement on debt restructuring with bilateral creditors
Finance Minister Dr Mohammed Amin Adam has revealed that the bilateral creditors through the Official Creditor Committee have shared the draft document on Ghana’s...
Development Bank Ghana targets 1 billion cedis funding for commercial banks
Development Bank Ghana has revealed that it is working to advance 1 billion cedis to commercial banks and participating financial institutions this year to...
Russia to grow faster than all advanced economies says IMF
An influential global body has forecast Russia's economy will grow faster than all of the world's advanced economies, including the US, this year. The International...
IMF Executive Board selects Kristalina Georgieva to serve a second term
The Executive Board of the International Monetary Fund (IMF) has selected Kristalina Georgieva to serve as IMF Managing Director for a second five-year term...
IMF deal has delivered on broad structural quantitative objectives – Dr Theo Acheampong
Political Risk Analyst, Dr Theo Acheampong has lauded the government's success in meeting its broad structural quantitative targets under the International Monetary Fund (IMF)...
IMF deal has achieved short-term targets but… – Seth Terkper
Former Finance Minister Seth Terkper has asserted that while the government has achieved some short-term targets, more efforts are needed to fully realise the...
Staff-Level Agreement not enough to release third tranche – IMF to Ghana
Ghana has reached a Staff-Level Agreement with the International Monetary Fund (IMF) for the second review of the Extended Credit Facility, but the Executive...
Billionaire faces death in $44bn bank fraud case
It is the most spectacular trial ever held in Vietnam, befitting one of the greatest bank frauds the world has ever seen.Behind the stately...
GSE registers six top gainers in March 2024; MTN, NewGold record all-time high prices
The Ghana Stock Exchange (GSE) recorded six top gainers in March 2024.The equities market continued to rally positively during the month, with two companies,...
Why gold prices are at record highs
From central banks to Costco customers, it seems everyone is buying gold these days.The price of spot gold reached $2,364 per ounce Tuesday, after hitting record highs for...
Ghana’s low exposure to loans from China has enhanced its debt restructuring – World Bank
Ghana has a relatively lower exposure to loans from China compared to Zambia (36%) and Ethiopia (25%), the World Bank has revealed in its...
SEC directs 9 companies to submit 2023 financial statement
Securities and Exchange Commission (SEC) has given nine listed equities on the local bourse, up to April 30, to submit their audited financial statements...
Dumsor: 70% of the challenge is financial, liquidity related – Kwabena Donkor
A Member of Parliament’s Energy Committee, Dr Kwabena Donkor, has shed light on some critical challenges facing the country’s power sector, leading to erratic...
NPA responds to ACEP’s concerns regarding price floor for petroleum products
The National Petroleum Authority (NPA) has responded to concerns raised by the Africa Centre for Energy Policy (ACEP) regarding its decision to implement a...
Ghana’s public debt up by GH¢30.5bn after IMF deal
Data from the Apex Bank in Ghana indicates a growing disparity between the nation’s public debt before and after agreement on the $3 billion...
Cal Bank turns to shareholders to raise ₵600m to improve capital position
Cal Bank has turned to its shareholders to raise ₵600 million to help recapitalize the financial institution. The bank has launched its renounceable rights issue...
BoG cautions banks to comply with monthly reporting of fraud cases
The Bank of Ghana (BoG) has cautioned banks to comply with its monthly report on fraud cases.This is to aid the regulator in consolidating...
Approval of IMF second review will trigger release of third tranche of $360m – Finance Minister
The Finance Minister, Mohammed Amin Adam says that the second review of the three-year $3 billion International Monetary Fund (IMF) programme will be conducted...
Analysis: Cedi to struggle against US dollar as demand pressures heighten
As the Bank of Ghana prepares to auction $120 million to Bulk Oil Distribution Companies (BDCs) in the second quarter of 2024, ongoing dollar...
T-bills auction: Interest rates plummet to 25.99%, government exceeds target by 41%
Interest rates tumbled for the 12th consecutive week in 2024 in line with most analysts forecasts.According to results of treasury bills (T-bills) auction by the...
Ghana ended 2023 with GH₵610bn public debt; a 27% increase
Ghana’s public debt increased to GH₵610 billion as at December 2023.Comparatively, this is a 26. 85 percent rise from the GH₵446.3 billion recorded...
Stop rejecting 1 and 5 pesewa coin – BoG to Ghanaians
The Bank of Ghana has cautioned Ghanaians against rejecting the one and five pesewas coins.Head of Currency Management at the Central Bank, Dominic Owusu,...
Ghana remains most indebted African country to IMF in terms of Concessional Lending
Ghana remained the most indebted country to the International Monetary Fund in Africa in terms of Concessional Lending and Debt Relief Trust.The country’s exposure...
Unemployment biggest threat to Ghana’s GDP – World Economic Forum
The increasing rate of unemployment in Ghana has becoming alarming in subsequent weeks.From the staggering 1.85 million Ghanaians being unemployed in the third quarter...
Ghana’s economic downturn not only due to COVID-19 but also excessive spending – IMF
The International Monetary Fund (IMF) has said that Ghana's ongoing economic challenges stem not only from the COVID-19 pandemic but also from excessive spending...