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Ghana is facing a significant financing gap hindering its efforts to meet its nationally determined contributions (NDCs) for combating climate change.The estimated total cost for Ghana to meet its NDCs between 2020 and 2030,...

Ghana is on the verge of finalizing an agreement in principle with its Eurobond holders for the restructuring of $13 billion worth of international debt, Reuters reported on Thursday, citing three sources.This development...

Ghana had the highest banks’ holdings of government debt in Sub-Saharan Africa in 2023, according to Fitch Solutions.Regarding government debt to Gross Domestic Product (GDP), Ghana ranked second, just behind Angola.Kenya, South Africa, and...

The latest Ghana Multidimensional Poverty Report, released by the Ghana Statistical Service (GSS), has highlighted significant insights into poverty levels nationwide.It reveals that employment and living conditions are the primary contributors to multidimensional...

In May 2024, the year-on-year inflation rate for all goods and services at ex-factory prices reached 23.6%, marking a notable increase from April 2024's 16.8%.The month-on-month producer inflation rate was recorded at 3.0%.According...

The Ghana Union of Traders’ Association (GUTA) has urged authorities to take decisive action against foreigners operating in the country's retail market.GUTA argues that this sector, traditionally reserved for Ghanaians, is now dominated...

Members of the Locked Up Investment Holders Forums have declared their determination to stage protests against the government every Wednesday until their demands are addressed.Their resolve stems from their investments, totaling millions of Ghana...

Ghana has dropped further from the grade “C” it scored in 2021 on the independence of its Supreme Audit Institution (SAI) i.e., the Auditor General’s Office to a “D” in the latest World Bank...

Ghana has secured US$260 million from the World Bank to boost the financial stability of its electricity distribution and expand access to clean cooking solutions.This funding includes a US$250 million credit from the Bank’s...

Director of the Institute of Statistical, Social, and Economic Research (ISSER), Professor Peter Quartey, has emphasized the need for the government to devise innovative ways of boosting domestic revenue without increasing taxes on Ghanaians....

Stakeholders in Ghana’s and Africa's export sector are urged to focus their efforts on adding value to their products and services to maximize revenue generation.Officials from the Ghana Export Promotion Authority emphasize the importance...

The McDan Group, under the leadership of Executive Chairman Dr. Daniel Mckorley, is set to expand its operations into the Caribbean by the end of 2024.This strategic move aims to enter new markets...

Founder of the African Center for Economic Transformation, Dr. Kingsley Y. Amoako, has expressed concerns over Ghana's faltering progress in economic transformation.Speaking at the Ghana Compact Citizens Convention at the University of Ghana,...

Ghana has taken a major step towards revolutionizing its energy sector by signing a landmark US$12 billion agreement.This deal involves a partnership between the Ghanaian government and the TCP-UIC Consortium, which includes Touchstone...

Illegal mining activities, adverse weather conditions, the Cocoa Swollen Shoot Virus Disease (CSSVD), and widespread smuggling have collectively caused a substantial drop in Ghana’s cocoa revenue for the first quarter of 2024.Head of Public...

The Tema Port recently welcomed one of Pacific International Lines' (PIL) largest container vessels, named Kota Tema after the port city itself.Built in 2024, the vessel spans 272 meters in length, boasts a...

Ghana has significantly increased its share of intra-African trade, according to the 2023 African Export and Import Bank (AFREXIM) Trade Report.The report highlights Ghana's substantial growth in trade within the African region, underscoring...

The disinflation trend in Ghana is anticipated to continue, albeit at a moderated pace, despite challenges such as the depreciation of the cedi and expected hikes in petroleum prices.GCB Capital, a financial advisory firm,...

The European Central Bank (ECB) recently shed light on the sources of central bank profits and losses, underscoring that the primary mandate of a central bank is to maintain price stability, rather than to...

Air travel in Africa is set to exceed pre-pandemic levels for the first time in 2024. From Cairo, home to Africa’s second-oldest airport, to Johannesburg, which uniquely offers direct flights to six continents, the...

Ghana is aiming to secure $1.7 billion in loans and support from the African Export-Import Bank (AFREXIM) by the end of the year.These funds are intended to bolster programmes supporting Small and Medium-Sized...

The Ghana Airports Company Limited (GACL) has addressed public concerns following a recent article about thefts from unaccompanied luggage at Kotoka International Airport (KIA).The article depicted a scene at the KIA baggage complaints...

In many African countries, a substantial part of the economy operates within the informal sector, encompassing small-scale trading, subsistence farming, and various unregistered economic activities.Consequently, the average income can be low due to...

Deputy Managing Director of the Electricity Company of Ghana (ECG), Mr. Kwadwo Obeng, has stated that the company is unable to provide a planned load-shedding schedule due to uncertainties in power supply.He noted...

Director of Inter-Party and Civil Society Organizations (CSO) Relations (Corporate Affairs) for the National Democratic Congress (NDC), Peter Boamah Otokunor, has emphasized that the urgent need for restructuring the country's economic modules to...

The Institute for Energy Security (IES) has predicted a marginal increase in the prices of petroleum products for the second half of June 2024. This is primarily due to the declining performance of the...

ECOWAS Resident Representative in Ghana, Baba Gana Waki, has emphasized the vital role of digitalization in the economic advancement of member states.He noted that in an era where digitalization is pivotal to economic growth,...

Ghana Cocoa Board (COCOBOD) has announced that over 40,000 farmlands belonging to cocoa farmers, which were temporarily taken for rehabilitation to enhance production, are set to be returned next month.The release, initially scheduled...

Bank of Ghana (BoG) is the sole authority mandated to issue and redeem currency according to Section 35 of the Bank of Ghana Act (2002), Act 612.Mr. Dominic Owusu, Head of the Currency...

The World Bank forecasts Ghana's Gross Domestic Product (GDP) growth for 2024 to be 2.9%.In its June 2024 Global Economic Prospects report, the World Bank highlighted that economic activities in the country continued to...

The Ministry of Finance has reassured the public that there are no plans to implement additional taxes on Ghanaians in the upcoming mid-year budget.This affirmation comes in response to rumors circulating about the possibility...

The Ghana Chamber of Mines has announced a 4.3 percent increase in mineral revenue from its member companies, growing from $5.6 billion in 2022 to $5.8 billion in 2023.President of the Chamber, Michael...

The IEA has strongly supported the establishment of an autonomous Fiscal Council (FC) in Ghana.It has recommended that the government implement comprehensive measures to break the recurring pattern of fiscal mismanagement and reliance on...

Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, stated that the agreement between Ghana and its Official Creditor Committee (OCC) will facilitate the approval of the country’s third tranche of $360 million.In...

Joseph Boahen Aidoo, the Chief Executive Officer of the Ghana Cocoa Board (Cocobod), has revealed that the organization recorded a significant profit of over GH₵2 billion for the 2022/2023 fiscal year.This announcement comes...

Inflation for May 2024 has seen a substantial decline, dropping to 23.1% from 25.0% in April 2024, marking a 1.9 percentage point reduction.The Ghana Statistical Service attributes this overall decrease to a reduction...

For the second consecutive time, the Treasury Department has neglected to transfer over US$70 million in earnings from the Jubilee Oil Holding Limited (JOHL) lifting into the Petroleum Holding Fund (PHF) as required by...

The National Council for Curriculum and Assessment (NaCCA) has introduced a revolutionary new curriculum for Senior High Schools (SHS) focused on instilling national values and nurturing pride among young people.This innovative curriculum offers 37...

The Government of Ghana has reached an agreement on a Memorandum of Understanding (MoU) with its Official Creditor Committee (OCC) in its debt restructuring efforts.This development pertains to the debt treatment plan agreed upon...

The Bank of Ghana (BOG) has clarified that its significant financial loss of GH₵10.5 billion for the 2023 fiscal year does not reflect a failure in policy effectiveness.The Central Bank explained that a substantial...

Research firm IC Securities has forecasted that the Ghanaian Cedi will depreciate to GH¢15.91 against the US dollar by year-end.IC Securities attributed the revision from their initial projection of GH¢13.2 to the current macroeconomic...

European Lotteries have voiced opposition to government-imposed taxes on lottery winnings and levies on the gaming industry.Speaking at a training program on responsible gaming hosted by the National Lottery Authority (NLA) in Accra, European...

Mining companies sent back over US$4.2 billion to Ghana, amounting to slightly more than 1.4% of the repatriation value in 2022.This information is from the 2023 mining report by the Ghana Chamber of Mines.A...

Government witnessed a 19.4% oversubscription in its treasury bills auction, indicating a renewed demand for short-term instruments.As per the Bank of Ghana’s auction outcomes, interest rates have maintained stability.The auction generated GH¢5.256 billion from...

Ghana's mining sector is poised for significant growth in 2024, driven by an increase in gold production.Gold output is anticipated to range between 4.3 million and 4.5 million ounces, thanks to higher production from...

The Chief Executive Officer of the National Pensions Regulatory Authority (NPRA), John Kwaning Mbroh, has urged contributors to remain calm despite concerning projections from a recent International Labour Organisation (ILO) report on the Social...

The Majority Leader in Parliament, Alexander Kwamina Afenyo-Markin, has advised the Ghanaian business community against hastily converting their cedis to US dollars.Addressing the media in Parliament, Afenyo-Markin labeled negative remarks about Ghana’s economy as...

ITA Airways has successfully launched its commercial flight operations at Kotoka International Airport (KIA).The inaugural flight landed at approximately 7:39 PM, greeted by a water cannon salute from the Rescue and Fire Fighting team...

Gold output in Ghana has experienced a slight increase from 3.7 ounces in 2022 to 4 million ounces, as reported by the Ghana Chamber of Mines.This marks the country's highest production level since the...

The Bank of Ghana (BoG) is still struggling to convince Ghanaians o the costs associated with its open market operations, which significantly contributed to the Bank’s loss position in the audited 2023 financial statements.According...