Business Headline

As of July 2024, the Ghana cedi has experienced a 19.6% depreciation against the US dollar on the interbank forex market, according to the latest report from the Bank of Ghana (BoG).This decline...

The Electricity Company of Ghana (ECG) faced a staggering loss of GH¢10.21 billion in 2022, a sharp increase from the GH¢1.91 billion loss recorded in 2021.This represents an over 433 percent surge in losses...

Finance Minister Dr. Mohammed Amin Adam has announced that the government has successfully negotiated with five out of seven Independent Power Producers (IPPs), achieving an estimated $6.6 billion in savings over the duration of...

The Minister of Finance, Dr. Mohammed Amin Adam, during the presentation of the 2024 Mid-Year Budget Review statement in Parliament, announced that Ghana's national debt stock stood at GH¢742 billion as of June 2024,...

Fitch Solutions has upheld its 2024 growth forecast for Ghana at 4.3%.This estimate significantly surpasses the 2.9% forecasted by the International Monetary Fund and the 3.1% revised GDP growth figure provided by the government.The...

Minister for Food and Agriculture, Bryan Acheampong has been sighted in a video revealing the present price for a box of tomatoes at an undisclosed market.In the video gone viral, the Minister while in...

Ghana’s oil revenue soared to $840 million in the first half of 2024, reflecting a 36% increase from the $540 million reported during the same period in 2023.This total revenue includes earnings from oil...

The Supreme Court has upheld the Bank of Ghana's (BoG) decision to revoke the operating license of Unicredit Ghana Limited.In a unanimous ruling, the Supreme Court reversed the Court of Appeal's decision and affirmed...

The Supreme Court of Ghana has upheld the Bank of Ghana's (BoG) decision to revoke UniCredit Ghana Limited's operating license, reversing an earlier appellate court ruling.The Supreme Court, in a unanimous verdict, supported the...

Ghana has reached a significant financial milestone by securing USD 8 billion in debt relief through the completion of its comprehensive debt restructuring programme.Finance Minister Dr. Mohammed Amin Adam revealed this achievement during his...

Finance Minister Dr. Mohammed Amin Adam has indicated that for the first half of 2024, the trade balance (economic measure that represents the difference between the value of a country's exports and imports of...

President of the Ghana Hotels Association, Dr. Edward Ackah-Nyamike Jnr, stated that while the government is seeing positive results with some economic indicators like inflation, these do not benefit businesses.During an interview with Evans...

Dr. Mohammed Amin Adam, Ghana's Minister of Finance, has announced a promising 4.7% growth in the country's economy for the first quarter of 2024. This performance, surpassing initial expectations, reflects the effectiveness of the...

Finance Minister Dr. Mohammed Amin Adam has provided an analysis of Ghana's fiscal performance for 2023 and preliminary figures for the first half of 2024.His 2024 mid-year budget statement presentation shed light on...

MTN Ghana has addressed the mounting public outcry over the high cost of internet data, which has significantly impacted businesses and sparked widespread discontent on social media.The telecommunication giant’s response comes amid growing...

The Jamestown Fishing Harbour has been completed on time, with operations set to start before the end of the year. Funded by a 50-million-dollar grant from the Chinese government, the harbour was built over...

To counteract the adverse impacts of climate change in impoverished and low-income nations, some United Nations Member States have committed $661.9 million to the Loss and Damage Fund.The governing framework for the Loss and...

Ghana is looking to restrict certain cocoa purchases for the upcoming season, indicating that the severe shortages affecting the market and driving futures prices to unprecedented levels might not be resolved soon.In a communication...

The Ghanaian government is set to release a turnaround strategy for the Ghana Cocoa Board (COCOBOD) by the end of July 2024, according to a recent IMF report. This strategy aims to enhance COCOBOD’s...

The Office of the Registrar of Companies (ORC) has extended the deadline for filing Annual Returns and Renewals to September 30, 2024.This extension allows businesses, including Companies, Churches, Associations, Civil Society Organizations, Think...

The Ghana Revenue Authority (GRA) has announced that it is nearing the completion of processes to bring approximately two million potential informal sector taxpayers into the tax system.At a media briefing in Accra, Mr....

The National Petroleum Authority (NPA) has announced that Ghana exported over 3 million liters of petroleum products to some of its neighbouring countries in 2023.In addition to Senegal and Gambia, Ghana also exports...

The Director of Communications for the Bank of Ghana (BoG) has addressed recent concerns by confirming that the Central Bank provided significant support to GN Bank during its liquidity issues.He explained that the BoG...

Acting Commissioner of the National Insurance Commission (NIC), Mr. Kofi Andoh, has unveiled plans to introduce a risk-based capital framework for life insurance companies.He stated that this framework would ensure that the capital held...

A recent Auditor-General’s report has highlighted financial results for the five regional airports in the country.The report, which covers the accounts of public boards, corporations, and statutory institutions for 2023, shows that the...

Economist, Dr. Ishmael Yamson, has condemned the government's legislative instrument designed to regulate cement prices, calling it a setback that could harm the country's investment prospects.The former Unilever Ghana CEO argued that the...

Economist Dr. Ishmael Yamson has urged the Ghanaian government to consider expenditure cuts as an immediate measure to address the depreciation of the cedi.He believes that while debt restructuring agreements with external creditors...

The Ghana Police Service and the Bank of Ghana (BoG) have closed down Dek-Nock Investments, located in Nungua and Ashaiman in the Greater Accra Region.The closure, which took place today, July 19, 2024, was...

The market capitalization on the Ghana Stock Exchange (GSE) has reached ¢90 billion for the first time since its inception.This figure represents the total value of all shares and equities on the market.According to...

Economist Dr. Ishmael Yamson addressed escalating economic crisis in the country, calling it the toughest period for businesses in decades.In a time of engagement with the media, he shared that the ongoing economic decline...

Five Ghanaian Small and Medium Enterprises (SMEs) have received GH₵1 million each in financial support through the pilot phase of the SME Growth and Opportunity (GO) programme.At the launch of the 8.2 billion intervention...

The Peasant Farmers Association of Ghana (PFAG) has revealed that about 80 percent of farmers have not been registered on the government’s Planting for Food and Jobs Programme Phase II (PFJ 2.0) as of...

Africa, celebrated for its cultural diversity and varied landscapes, also hosts some of the globe's fastest-growing economies and wealthiest nations.Spanning from the mineral-rich lands of Southern Africa to burgeoning financial centers in the north,...

The Producer Price Inflation rate for June 2024 climbed to 25.9% from 23.6% in May 2024, according to the most recent data from the Ghana Statistical Service (GSS).This rate shows that the rate increased...

A finance expert and fellow of the finance pillar at the Centre for Social Justice (CSJ), Haruna Alhassan, has advised the future government of Ghana to initiate another round of debt restructuring starting in...

The role of agriculture in most developing countries is the backbone of many developing economies. The food and agriculture industry plays a major role in Ghana’s economy. The marketability and proper handling of agricultural...

The latest data from the Ghana Statistical Service indicates that the Producer Price Inflation rate for June 2024 has increased to 25.9%, higher than the 23.6% recorded in May 2024.This rate indicates that between...

The Ghana Revenue Authority (GRA) has announced that it exceeded its mid-year revenue collection target, despite encountering challenges in early 2024.Initially tasked with collecting 145.99 billion Cedis for the year, the authority managed...

The Ghana Revenue Authority (GRA) has surpassed its goal of enrolling 600 large companies onto its Electronic (E)-VAT platform, successfully signing up 40 additional firms.In May 2024, the GRA committed to integrating over 600...

Ghana’s Cocoa Marketing Board (Cocobod) reported a profit of GH¢2.3 billion ($149.84 million) for the 2022/23 fiscal year, largely due to debt restructuring, according to an Auditor General report obtained by Reuters on Tuesday.The...

An Auditor-General (A-G) report has uncovered that the Electricity Company of Ghana (ECG) overspent by over $145 million on meter procurement, breaching the Public Procurement Act.The report further noted that ECG failed to fully...

Governor of the Bank of Ghana (BoG), Dr. Ernest Addison, has emphasized recent positive economic indicators indicating a recovery during his address at the SME Growth and Opportunity Summit in Accra on July 16,...

Former Deputy Minister for Works and Housing and ex-Deputy Ashanti Regional Minister, Samuel Yaw Adusei, announced that the upcoming National Democratic Congress (NDC) government led by John Dramani Mahama will create a secretariat to...

At the end of June, Ghana's cocoa production reached 429,323 metric tons, representing under 55% of the expected seasonal yield, as reported by the marketing board, COCOBOD.Global cocoa prices have surged since the beginning...

Asante Kwaku Berko, a former Managing Director of Tema Oil Refinery and a dual citizen of the United States and Ghana, has been extradited from the UK to face charges in the US.He...

London-based financial analysis firm, Fitch Solutions has projected a 9% recovery in the value of the Ghanaian cedi against the US dollar by the end of 2024. This forecast comes amidst challenging conditions for...

To address the financing gap for micro, small, and medium-sized enterprises (MSMEs), 15 Ghanaian financial service providers have teamed up with the Support to Private and Financial Sector (PFS) Programme to create innovative financial...

On Monday July 15, China’s National Immigration Administration (NIA) revealed an extension of its 144-hour visa-free transit policy to three more entry points.With this update, the policy now covers a total of 37 ports.The...

Dr. John Kwaye of the Institute of Economic Affairs has criticized Ghana's reliance on IMF disbursements to stabilize the Cedi, deeming it unsustainable.He advocates for leveraging Ghana's natural resources for foreign exchange instead, emphasizing...

Organised Labour has cancelled its strike after an emergency meeting on Monday, July 15, 2024.A press release, signed by Dr. Yaw Baah, Secretary General of the Trades Union Congress; Dr. Isaac Bampoe Addo, Chairman...