Finance

We’ve turned the corner but not out of woods yet – Minister

The Minister of State at the Finance Ministry, Dr. Mohammed Amin Adam has insisted that current growth figures, and other economic indicators back claims...

IMF: Why Ghana can’t get second disbursement without an agreement with creditors

Ghana is set to receive $3 billion from the IMF for its Balance of Payment (BoP) support between 2023 and 2026, and this bailout...

Natural resource-backed loans disaster for Africa – IMF, AfDB warns

The International Monetary Fund (IMF) has strongly supported a call by the African Development Bank Group urging countries in Africa to stop borrowing loans...

Aggrieved Gold Coast Fund customers to picket at Finance Ministry today

Aggrieved customers of the defunct Gold Coast Fund Management will picket at the premises of the Ministry of Finance on Tuesday, October 10, 2023,...

Ghana is one of best places to do business in Africa – CWEIC

Talk to anybody in the know about Africa, and you’ll soon find that Ghana is internationally recognised as one of the best places to...

Cedi to appreciate by 1.0% to dollar in 2024 – Fitch Solutions

The Ghana cedi is expected to strengthen by roughly 1.0% to the US dollar in 2024, Fitch Solutions has disclosed in its latest Country...

IMF review team concludes first assessment in Ghana; reaches staff level agreement

An International Monetary Fund (IMF) staff team, led by , its Mission Chief for Ghana  Stéphane Roudet, have reached a staff-level agreement on the...

GRA justifies decision to tax bloggers, brand influencers, MCs

The Ghana Revenue Authority (GRA) has defended its decision to impose taxes on bloggers, brand influencers, and Masters of Ceremonies (MCs).The Commissioner in charge...

ECG, GWCL, NEDCo pay GH¢I.2m as compensation to customers  

The Electricity Company of Ghana (ECG), Ghana Water Company Limited (GWCL), and Northern Electricity Company (NEDCo) have paid a total of GH¢1,297,118.17 to customers...

Next IMF tranche to be released in November – IMF boss

Ghana, the recipient of a $3 billion IMF support package, is currently undergoing its first program review, set to conclude in November, the IMF...

Ghana loses GH¢49.5 million to cyber fraud in nine months

Ghana has reported a loss of GH¢49.5 million in the first nine months of the year due to cyber fraud activities, according to the...

BoG’s ¢60b loss is abnormal and beyond the bank’s control – Expert

The Minority in Parliament, alongside some Ghanaians, protested against the Bank of Ghana Governor, Ernest Addision and his deputies following a staggering ¢‎60 billion...

Let’s deepen democracy, good governance to attract investments — ECOWAS Bank

The ECOWAS Bank for Investment and Development (EBID) has called for a deepening of democracy and good governance in the West Africa sub-region to...

IMF bailout: Ghana close to receiving next tranche

The International Monetary Fund (IMF) expects Ghana to quickly reach an agreement with the Official Credit Committee over its external debt restructuring.Julie Kozack, IMF’s...

Petrol prices to remain unchanged in October first pricing window – COPEC

Prices of petroleum products are likely to remain unchanged for the month of October.According to projections from the Chamber of Petroleum Consumers (COPEC), there...

Monetary policy rate held steady at 30%

The Bank of Ghana has maintained the monetary policy rate at 30 percent after reviewing developments in the economy.This means that the lending rate...

Ghana’s total exports decline by 9%

Ghana has recorded a nine percentage point drop in its total export earnings.As of August 2023, total exports stood at US$10.76 billion. It is...

CIMG Customer Satisfaction Index: UMB and 4 other banks lead the way in Customer Service in Ghana

Only five banks scored above the threshold of 98% in the 2022 Chartered Institute of Marketing Ghana Customer Satisfaction Index.This marks a significant improvement...

Suppress appetite for high-interest loans – Gov’t told

The Institute of Statistical, Social and Economic Research (ISSER), has cautioned the government to suppress its appetite for high-interest loans.Director of ISSER, Professor Peter...

Ghana’s IMF debt ranking a bad investor signal – Economist

Finance Lecturer at the University of Ghana Business School, Professor Lord Mensah has expressed fears that Ghana’s already dwindling investor confidence will further be...

Ghana stands ready to unlock second disbursement – Economist on IMF bailout

An Economist, Dr. Patrick Assuming is optimistic Ghana will be able to receive the second tranche of $600 million from the International Monetary Fund...

MTN Ghana’s durable competitive advantage to enrich long-term investors

Long-term investors (shareholders) of MTN Ghana are expected to significantly benefit from the durable competitive advantage of the telecommunication company.The company’s competitive advantage creates...

Gov’t achieves 95% participation rate in second round of DDEP

Government has achieved a 95% participation rate across its three latest debt exchange programmes.The Finance Ministry revealed that in the first program, which focused...

We will honour all future payment obligations of new DDEP bonds – Finance Ministry

The Government of Ghana has reiterated its commitment to honour all future payment obligations, in accordance with the terms of the new arrangements.This is...

5-year performance of GCB equity on the Ghana Stock Exchange

Investing in shares or stock or equity should be done with a long term view, this is because historically, the stock market outperforms all...

GRA closes down shops, arrests managers for tax non-compliance 

The Ghana Revenue Authority (GRA) has arrested managers of some hardware and general merchandise shops in the Weija-Kasoa enclave in the Greater Accra and...

Vodafone cash subscribers to benefit from new partnership with Remitly

Vodafone Cash has announced a strategic partnership with Remitly Inc., a Seattle-based international money transfer company recognized on the Top 100 Cross-Border Payment Companies...

Bank Commercial Paper as an alternative to T-Bills as latter faces possible re-structuring

It is imperative that government reduces yields (interest rates) on T-Bills, given the country’s current precarious economic situation, this is no time for the...

VRA records ¢110.8m profit in 2022 – Auditor General Report

The Volta River Authority (VRA) recorded a profit of ¢110.893 million in 2022, about 1.7% decline over the previous year, the 2022 Auditor General...

Govt to borrow ¢38.959bn via treasury bills

Government will borrow a whopping ¢38.959 billion via treasury bills for the third quarter of 2023.According to its issuance calendar released by the Ministry...

Economist backs NDC’s call for resignation of BoG governor

Economist and lecturer at the University of Ghana Business School (UGBS), Professor Godfred Bokpin, has assented to the National Democratic Congress' (NDC) call for...

Inflation rises for the third consecutive month

Year-on-year inflation shot up marginally to 43.1% in July 2023, from 42.2% recorded in June 2023.According to figures from the Ghana Statistical Service, the...

Cedi to remain stable this week

The Ghana cedi will remain stable this week against the US dollar and other major foreign currencies, although improved US labour data may pose...

BoG can’t take shelter from issues of other central banks – Economist

Professor John Gatsi, the Dean of the Business School at the University of Cape Coast (UCC), has criticized the Bank of Ghana (BoG), stating...

VAT structure does not ensure compliance  – GUTA

President of the Ghana Union of Traders Association (GUTA), Dr Joseph Obeng, has stated that his expectations were not met during Finance Minister, Ken...

Gh¢21bn cut in 2023 budget commendable – Oppong Nkrumah

Minister for Information, Kojo Oppong Nkrumah, has said the GHS 21bn reduction in the government’s appropriation for the 2023 fiscal year is commendable.Contributing to...

We have put in place structures to remain policy solvent – BoG

The Bank of Ghana says it has put in place structures to ensure that it remains policy solvent and well able to deliver on...

There’s a need to revisit structure, nature of taxes – Ken Ofori-Atta

In a crucial meeting with the business community ahead of the mid-year budget review, the Finance Minister, Ken Ofori-Atta, addressed pressing issues concerning the...

Gov’t must prioritise simple, affordable tax policies – GUTA

The Ghana Union of Traders Association (GUTA) has urged government to prioritise and implement policy actions that will make tax affordable, simple for businesses,...

Ghana’s economy will get worse before getting better – Fitch Solutions

Fitch Solutions has reaffirmed its position that economic activities in Ghana will get worse before getting better in 2023.This is coming despite the expansion...