Business

The National Communications Authority (NCA), in partnership with the Ministry of Communications and Digitalisation and Mobile Network Operators (MNOs), is actively engaging stakeholders in The Gambia to progress the ECOWAS Free Roaming initiative.This initiative...

The Herald has acquired a contentious letter approving the handover of Bogoso Prestea Mines from the British-owned FGR Bogoso Prestea Mines to Heath Goldfields Limited, a Ghanaian entity with Turkish collaborators.Dated November 12, 2024,...

President Nana Addo Dankwa Akufo-Addo has inaugurated the Bridge Power Plant in Tema, a $1.2 billion project, marking a pivotal moment for Ghana’s energy sector and its broader economic growth.This state-of-the-art 590-megawatt combined-cycle plant,...

The World Bank has stated that it is aware of the allegations concerning the operations of the Development Bank Ghana, which is a recipient of support through the Ghana Development Finance Project funded by...

The government is taking action against private pension fund managers seeking to invest in offshore assets, citing concerns that such investments could put additional strain on the country’s cedi currency, according to three industry...

Asante Gold Corporation, a gold exploration, development and operating company, has issued 31,896,857 common shares to settle $35 million in outstanding debt owed to arm’s length creditors.The move comes as part of the...

Petrol prices have started going down at fuel stations, with some Oil Marketing Companies (OMCs) adjusting their rates from November 19, 2024.One of the biggest players in the industry, GOIL,reduced the price of...

Global economic growth in 2025 is expected to be marked by rebalanced labor markets and easing inflation, according to Goldman Sachs Research.Chief Economist at Goldman Sachs, Jan Hatzius, highlighted in the report Macro Outlook...

Goldman Sachs Research anticipates steady global economic growth in 2025, projecting a 2.7% expansion in worldwide GDP, slightly above the Bloomberg consensus and consistent with 2024 estimates.The forecast highlights stronger-than-expected performance in the United...

Ghana’s government raised GH¢5.180 billion in its latest T-Bill auction, falling short of its GH¢6.228 billion target by GH¢1.04 billion.The auction held on November 15, 2024, saw strong interest in the 91-day bills, which...

The Chamber of Agribusiness Ghana has raised concerns about the government’s proposal to build a 60,000-tonne grain silo, questioning both its cost and location.The Chamber argues that the $64 million price is too...

The Ghana Investment Promotion Centre (GIPC) has urged global investors to consider Ghana as their preferred investment destination, highlighting the country's vast potential.The centre emphasized that Ghana's political stability creates a conducive environment for...

National Deputy Secretary of the 'Bawumia Identifiable Groups' campaign team, Dr. Michael Kyeremanteng, has called on Ghanaians to embrace a more effective strategy for addressing the country’s economic challenges.He advocated for the introduction of...

Facility Manager of the Kayayei Empowerment Project, Emmanuel Asamoah, has disclosed that the initiative has successfully equipped over 5,000 head porters, popularly referred to as kayayei, with various skills to help them achieve sustainable...

The Managing Director of Intercity STC Coaches Limited, Nana Akomea, has dismissed reports alleging his involvement in the sale of a company property to the Stadium Hotel in Kumasi.In a Facebook post on Sunday,...

The recent installation of new electricity meters by the Electricity Company of Ghana (ECG) has left many Ghanaians frustrated over increased power bills.Individuals and businesses alike have expressed concerns about having to double...

Ghana’s currency, the cedi, has shown some improvement in value against key international currencies, particularly the US dollar, in recent weeks.The Bank of Ghana, in an effort to stabilize the cedi, injected over $200...

The Association of Rural Banks has urged the government to lower the corporate tax rate for Rural and Community Banks (RCBs) as a special measure to foster the growth of the rural economy and...

Fitch Ratings is projected to remove Ghana from sovereign default status by July 2025, as it expects the country to finalize its external debt restructuring by the end of June 2025.The agency is also...

The Ghana National Gas Company Limited (GNGCL) has successfully reduced its operational costs by over US$250 million by relying solely on the expertise of Ghanaian engineers and technicians for the maintenance and operation of...

Forty Oil Marketing Companies (OMCs) with their own tankers have cut ties with the Tanker Owners Union. They say the union’s leaders are not being open or accountable.The OMCs are also frustrated about problems...

The Chamber of Petroleum Consumers (COPEC) forecasts a reduction of approximately 5.06% in petrol prices and 3.88% in diesel prices.Additionally, the price of Liquefied Petroleum Gas (LPG) is expected to fall by around...

Director of the Climate Financing Division in Ghana's Ministry of Finance, Mrs. Phyllis Adwoa Fraikue, has underscored the country’s bold aspirations to secure climate finance despite ongoing global economic challenges.At a side event...

The Ghana Chamber of Telecommunications has revealed that telecommunications companies contributed GHS 9.83 billion in taxes and other payments to the national coffers in 2023, representing a significant increase from the GHS 6.5 billion...

The government is preparing to raise GH¢6.228 billion in its upcoming auction scheduled for November 15, 2024.Meanwhile, a private legal practitioner, Jonathan Amable, has approached the Supreme Court with a motion to block the...

The government of Ghana received over GH₵9.83 billion in taxes and other payments from the telecom sector in 2023, representing a significant 30% increase from the GH₵6 billion collected in 2022.This contribution accounted...

Consolidated Bank Ghana (CBG) has reaffirmed its dedication to collaborating with the Bank of Ghana to reinstate its temporarily suspended foreign exchange trading license.“We believe the concerns raised in the notice can be swiftly...

President Nana Addo Dankwa Akufo-Addo has revealed that Ghana has generated approximately $800 million from trading carbon credits with other nations.He noted that this revenue would significantly support Ghana's climate-resilient initiatives aimed at cutting...

Cashew farmers in Wenchi, a town in the Bono Region, are urging President Nana Akufo-Addo to instruct the Tree Crop Development Authority (TCDA) to set and announce a minimum producer price for raw cashew...

The Ghana Airports Company Limited (GACL) has announced a six-hour daily runway closure for airlines servicing Kotoka International Airport in Accra for essential repair works.This maintenance exercise is scheduled to last for two...

The world’s governments must raise an additional US$3 trillion to achieve sustainable and inclusive economic growth goals this decade. The cost in emerging markets equals 4 percent of gross domestic product—and 16 percent for...

Consolidated Bank Ghana (CBG) has reassured customers that the temporary suspension of its foreign exchange license will not impact its main banking services.The bank emphasized that all branches and digital services are fully functional...

Air France has halted its direct three-times-a-week passenger service between Paris and Accra, Ghana, effective October 26, 2024.While the airline has not provided immediate reasons for the suspension, analysts suggest that the decision is...

Legal practitioner Jonathan Amable has petitioned the Supreme Court to impose an immediate injunction on government borrowing through treasury bills.The application seeks to prevent the government and its representatives from issuing treasury bills...

The Ghana Investment Promotion Center (GIPC) acknowledged that while the journey to economic recovery presents difficulties, the long-term outlook is promising. Investment levels may fluctuate quarterly, but they continue to grow on an annual...

President Nana Addo Dankwa Akufo-Addo’s ambitious Petroleum Hub Project is making strides toward transforming Ghana’s petroleum downstream sector into a modern, diversified, and financially sustainable “energy economy.”Designed to provide all homes and industries with...

Banking expert Dr. Richmond Atuahene expressed serious doubts about how Consolidated Bank Ghana (CBG) is being managed after the Bank of Ghana (BoG) recently put a hold on CBG's license to trade foreign currency.The...

In order to strengthen governance and risk management standards, the Bank of Ghana has introduced a comprehensive outsourcing directive that applies to banks, specialized deposit-taking institutions (SDIs), financial holding companies, and development finance institutions.In...

At the 24th Annual General Meeting and Scientific Conference of the Ghana Institute of Horticulturists, Daniel Attivor, an agronomist and consultant for Anglo Gulf FZE - Dubai, emphasized the critical yet cautious role of...

The Bank of Ghana (BoG) will officially open its new US$250 million headquarters, "The Bank Square," in Accra on November 20, 2024.The construction of the new headquarters sparked debates last year, especially after the...

The Bank of Ghana (BoG) has announced the suspension of the Foreign Exchange Trading Licence of Consolidated Bank Ghana (CBG), effective from 26th November 2024.The suspension, which will last for one month, was...

Bank of Ghana has suspended the Foreign Exchange Trading Licence of Consolidated Bank Ghana (CBG) for one month, effective November 26, 2024.Citing Section 11(2) of the Foreign Exchange Act, 2006 (Act 723), the BoG...

Consolidated Bank Ghana’s (CBG) foreign exchange trading license has been suspended for one month by the Bank of Ghana (BoG).This suspension, effective November 26, 2024, aligns with Section 11(2) of the Foreign Exchange Act,...

The Minerals Income Investment Fund (MIIF) has set a strict deadline for mining companies in Ghana to pay any outstanding royalties by December 1, 2024. This deadline applies to all active mining operators, including gold,...

Popular international money transfer service, Taptap Send has temporarily suspended its operations in Ghana.This pause has raised concerns among users who depend on the platform to send money to loved ones in the...

Ghana has been ranked as the 6th most attractive investment destination in Africa for 2024, according to Rand Merchant Bank's ‘Where to Invest in Africa 2024’ report.The country achieved an overall score of 0.24.For...

At the National Farmers' Day ceremony in Accra, Ghana, cocoa farmers were filled with excitement as President Nana Akufo-Addo revealed an increase in the producer price of cocoa, raising it from GH₵3,000 to GH₵3,100...

Effutu Member of Parliament, Alexander Kwamina Afenyo-Markin, has expressed his frustration over the media's refusal to acknowledge him as the Majority Leader.Following the Supreme Court's adjournment of his case challenging Speaker Alban Bagbin's declaration...

Ghana's government raised GH¢5.824 billion in its most recent treasury bill auction, surpassing its target of GH¢5.623 billion by GH¢201 million.The auction, conducted on November 8, 2024, witnessed strong demand for the 91-day bills,...

Ghana's oil industry has experienced a notable surge, with crude output and income climbing in the first half of 2024.The Public Interest and Accountability Committee (PIAC) reported that oil revenues totaled $840.7 million between...