Finance

Don’t be complacent with declining inflation rate – GUTA cautions govt

The President of the Ghana Union Traders Association (GUTA), Dr. Joseph Obeng, has cautioned the government against complacency despite the recent decline in inflation.While...

Bawumia’s attempt to save Aluworks fails as situation further degenerates 

The attempt by the Vice President, Dr Mahamudu Bawumia to save Aluworks PLC from collapse has failed as the company’s shutdown has entered the...

New restriction on MoMo transaction could derail digitisation of MSMEs – ISSER

The Institute of Statistics, Social, and Economic Research has indicated that the new restriction on mobile money (MOMO) transactions could derail the digitization of...

GRA denies accessing a $75 million loan

The Ghana Revenue Authority (GRA) management has refuted claims made by Bolgatanga Central MP Isaac Adongo that it has accessed a $75-million loan from...

BoG’s losses in 2022 were necessary to save Ghana’s economy – Dr. Addison

The Governor of the Bank of Ghana (BoG), Dr Ernest Addison, has insisted that the economy would have faced dire consequences if the Central...

T-bills auction: Government misses target by 30%

Ghana's interest rates have returned to an upward trajectory for the first time in a month, as the government continued to borrow heavily on...

BoG to close down some distressed NBFIs

The Bank of Ghana is set to soon close down some Non- Bank Financial Institutions facing severe liquidity challenges.According to the Central Bank, the...

Ghana attains all fiscal targets in line with IMF programme – BoG

Fiscal Policy Implementation for the first half of the year has been in line with the performance criteria under the International Monetary Fund Economic...

TOR-Torrentco deal shouldn’t happen at all – Energy expert

The Executive Director of the Africa Center for Energy Policy (ACEP), Benjamin Boakye, has said that there are credible entities that can be engaged to ensure...

No bank is on liquidity support – Dr Addison

The Governor of the Bank of Ghana (BoG), Dr Ernest Addison, has said that no bank is currently on liquidity support in Ghana although an intervention was made to...

Economic activity continues to recover beyond half-year 2023 – BoG

The Bank of Ghana has pointed out that economic activity continued to recover beyond the first half of 2023.According to the Central Bank’s Monetary...

Ghana to receive €145.9m German support

Germany has proposed to support Ghana with 145.9 million euros on technical and financial co-operation on three critical areas of the economy.The areas are...

Zeepay Ghana fined, forex license suspended temporarily

The Bank of Ghana (BOG) has temporarily suspended and fined Zeepay Ghana Limited for a clause breach.The Central Bank in a notice on Monday,...

Market women understand economics better than politicians – Economist

An economist, Dr Theo Acheampong has said a GH¢1 trillion Gross Domestic Product (GDP) is meaningless in economics.This comes after the Finance Minister, Ken Ofori-Atta told Parliament that Ghana’s...

2024 budget: Economist schools Ken Ofori-Atta

An economist, Dr Theo Acheampong has said a GH¢1 trillion economy means nothing when inflation is still in excess of 30 percent.This comes after the Finance...

Ensure that NIB is recapitalized – Government told

The Dean of the University of Cape Coast Business School, Professor John Gatsi has urged government to ensure that the National Investment Bank (NIB) is recapitalized as was stated in...

Inflation declining because we’ve turned the corner – Ofori-Atta

The Finance Minister, Ken Ofori-Atta, says Ghana’s economy, which plummeted in recent years, has begun making modest gains.Delivering the 2024 budget statement in Parliament...

Budget 2024: All is set for the implementation of YouStart – Ken Ofori-Atta

Finance Minister, Ken Ofori-Atta has announced that all is set for implementation of the YouStart initiative in 2024.He said this during the 2024 budget...

Infographics: All you need to know about the 2024 budget

Finance Minister, Ken Ofori-Atta presented the government's 2024 Budget Statement and Economic Policy in Parliament on Wednesday November 15, 2023.This presentation aims to outline...

Ghana’s economy projected to exceed GH¢1 trillion in 2024 – Ofori-Atta

Finance Minister, Ken Ofori-Atta has predicted that Ghana's economy will surpass GH¢1 trillion in 2024.Presenting the 2024 Budget in Parliament on Wednesday (15 November),...

Full text: Finance minister presents 2024 budget in Parliament

The Minister of Finance, Ken Ofori-Atta, is presenting the 2024 Budget Statement and Economic Policy in parliament on Wednesday, November 15, 2023.The presentation of...

Ofori-Atta to present 2024 budget today

Finance Minister, Ken Ofori-Atta is set to present the government's 2024 Budget Statement and Economic Policy in Parliament.This presentation aims to outline strategies for...

Pressure on cedi mounts; one dollar equals ¢12.13

The high demand for the US dollar continues to weigh on the Ghana cedi as the local currency lost some ground against the American...

African Development Bank approves $102m support as budget presentation approaches

The African Development Bank (AfDA) has given the green light for a $102.6 million grant to support Ghana's Fiscal Consolidation and Economic Recovery Programme....

Govt signs 2 new 720MW Power Purchase Agreements

The government has signed two new Power Purchasing Agreements (PPAs) to add about 720 Mega Watts (MW) of power to the country’s generation capacity,...

Invest oil, gas revenue for wellbeing of citizenry – Economist to African leaders

A Petroleum Economist at the University of Cape Coast, Professor Wumi Iledare, has advised African leaders to prioritise the use of oil and gas...

IMF Board proposes 50% increase in quota allocated to members

The Executive Board of the International Monetary Fund (IMF) has proposed a 50% quota increase allocated to members, including Ghana, in proportion to their current quotas....

Nigerians spend $975m daily on online betting – NLTF

Data from the National Lottery Trust Fund (NLTF) has revealed that over 65 million Nigerians actively engage in betting, spending an average of $15...

Ghana’s economy on a steady recovery path – Ofori-Atta

Finance Minister, Ken Ofori-Atta, has reaffirmed that the Ghanaian economy is on a recovery path, citing improvement in some macroeconomic indicators.According to him, the...

Debt defaults taking long to resolve – Fitch

Rating agency, Fitch, says debt defaults in frontier markets including Ghana have taken longer to resolve than in the past.The UK-based firm said the...

Remove COVID-19 and Special Import Levies from 2024 Budget – GUTA

The Ghana Union of Traders Association (GUTA), has called for the removal of the COVID-19 Levy and the Special Import Levy in the 2024...

Make taxes affordable, simple to enhance compliance – GUTA

President of the Ghana Union of Traders Association (GUTA), Joseph Obeng, has urged government to make taxes affordable and simple to enhance compliance.According to...

Pressure on cedi to ease this week

The pressure on the Ghana cedi is expected to ease this week, following the anticipated news of the inflow of the $800 million cocoa...

Ofori-Atta has nothing to offer cocoa farmers – President of Cocoa Farmers Assoc.

The President of the Concerned Cocoa Farmers Association, Nana Boateng Bonsu, has raised questions about the government’s decision to allow the Finance Minister, Ken...

World Bank Consultant reveals cause of Ghana’s high unemployment rate

Emmanuel Awuni, a private sector consultant at the World Bank, says unfavourable business regulatory framework is hindering entrepreneurial potential and deepening Ghana’s unemployment situation.He...

Banks write off ¢2.416bn as bad loans as of August 2023

Banks wrote off ¢2.416 billion as bad debt in the first eight months of this year, 36.4% increase over the previous year, highlights of...

I am positive IMF’s Board will approve the second tranche – Ofori-Atta

The Finance Minister, Ken Ofori-Atta, is optimistic that the board of the International Monetary Fund (IMF) would approve the second tranche of the country’s...

2024 Budget should be heavily devoted to job creation — GFL

The Ghana Federation of Labour (GFL) expects the 2024 Budget to be devoted to job creation in both the private and public sectors and...

2024 budget won’t increase public spending — Finance Minister

Government has given an assurance that it will restrict itself to budgeted expenditure, despite 2024 being an election year.The Minister of Finance, Ken Ofori-Atta,...

DDEP has been successfully completed – Ofori-Atta

The Minister of Finance, Ken Ofori-Atta, has indicated that the Domestic Debt Exchange Programme (DDEP) has been successfully completed, providing much-needed breathing space.This quells...