Business Headline

Head of the Majority Caucus in parliament, Alexander Kwamina Afenyo-Markin, has declared that the long-term agreement between the Ghana Revenue Authority (GRA) and Strategic Mobilisation Limited (SML) does not require parliamentary endorsement, as it...

Ghana plans to implement a new legislative framework to limit the export of raw bauxite, as stated by Samuel Abu Jinapor, the Minister of Lands and Natural Resources.During the opening ceremony of the 2024...

The Chamber of Petroleum Consumers Ghana (COPEC) has expressed disappointment with the National Petroleum Authority (NPA) for raising the Unified Petroleum Price Fund (UPPF) margin.This decision has resulted in a domino effect on fuel...

Joynews' market survey data reveals a stark reality as a sack of onions, once priced at GHC600, is now fetching GHC1,050. The inflation rate is skyrocketing, pushing up the costs of essential goods and services. For...

Gold exports reached $7.60 billion, marking a 15.0% increase compared to the previous year. This growth is primarily attributed to a 9.2% rise in export volume and a 5.4% increase in the average realized...

Minister of Lands and Natural Resources, Samuel Abu Jinapor, has announced that construction of Ghana’s first manganese refinery will begin in August this year.This significant project will be done by Ningxia Tianyuan Manganese Industry...

Businesses in Ghana have witnessed a sharp decline in their working capital, with a reduction of more than 56 percent within a span of six months, attributed to the worsening economic conditions, stated the...

Deputy Minister of Finance,Dr. Alex Ampaabeng, has urged the African Development Bank Group (AfDB) to lead initiatives aimed at enhancing transparency in carbon markets.Addressing a panel discussion during the African Development Bank Group...

The Association of Ghana Industries (AGI), the representative organization for manufacturing companies in Ghana, has expressed support for the inclusion of nuclear power in the nation's energy portfolio.Nonetheless, the Association has urged the government...

The government has made significant progress on the new terms for paying the $13 billion owed to creditors, and is now getting close to reaching an agreement with holders of Eurobonds regarding debt restructuring.This...

Locked-up Investment Holders’ Forum have declared that it will resume its picketing today, Wednesday, June 5, following the Finance Ministry's failure to meet its demands.Members of the forum are dissatisfied because, despite assurances...

The Bank of Ghana (BoG) has explained that obtaining a bailout from the International Monetary Fund (IMF) would have been difficult without the Domestic Debt Exchange Programme (DDEP).Dr. Philip Abradu-Otoo, the Director of Research...

Bank of Ghana (BoG) provided its 2023 Annual Report and Financial Statement, which shows that the bank's currency printing expenses in 2023 totaled GH¢675.4 million.According to the study, the sum is a 107.4% rise...

Supporters of the Locked-Up Investment Holders Forum will reconvene at the Finance Ministry on Wednesday, June 5, 2024, for a demonstration.This decision follows the Ministry's failure to fulfill its commitment to engage with them.On...

The Bank of Ghana allocated GH¢675.4 million for currency printing in 2023, marking a 107.4% surge compared to the GH¢325.64 million expenditure in 2022, as detailed in its 2023 Annual Report and Financial Statement.Additionally,...

Despite incurring a loss of 10.5 billion cedis in 2023, the Bank of Ghana (BOG) asserts its continued policy solvency to cover monetary policy operation costs.This loss, although substantial, marks a marked improvement...

Public Interest Accountability Committee (PIAC) has reported a 36 percent shortfall in the payments made by the Electricity Company of Ghana (ECG) under the Cash Waterfall Mechanism (CWM) for gas in 2023.According to...

The World Bank has sanctioned a $250 million credit from the International Development Association (IDA) for the five-year Ghana Financial Stability Project.This initiative will bolster Ghana’s Financial Sector Strengthening Strategy (FSSS) by enhancing financial...

Starting July 1, 2024, household and industrial consumers will see an increase in utility tariffs for electricity and water, following the Public Utilities Regulatory Commission’s (PURC) second-quarter review under the Quarterly Tariff Review Mechanism.The...

Bank of Ghana (BoG) reported a loss of GH₵10.50 billion for the financial year ending 2023.This loss was primarily driven by a significant increase in total interest expenses related to the Central Bank's...

China retained its status as Ghana's primary import source in 2023, with imports totaling GHC 33.9 billion, up from GHC 26.4 billion in 2022, as per the Ghana 2023 Trade Report by the Ghana...

The International Monetary Fund (IMF) has emphasized that debt transparency is not only beneficial for individual countries but also crucial for the IMF's operations.The IMF noted that hidden and opaque debt forms hinder its...

Private sector contributions to the Social Security and National Insurance Trust (SSNIT) in March 2024 hit an all-time peak of GH¢395.34 million, as reported in the Bank of Ghana’s Summary of Economic and Financial...

A recent report from the Ghana Statistical Service reveals that the total value of international trade in the first quarter of 2024 stood at GH₵107 billion, with exports totaling GH₵59.5 billion and imports GH₵48.1...

Ghana achieved a significant trade surplus of GH¢11.5 billion in the first quarter of 2024, amid a 20.4% increase in the average prices of export commodities compared to Q1 2023.The Ghana Statistical Service (GSS)...

In the aftermath the one-year anniversary of Nigeria's current administration under President Bola Tinubu, both the country's achievements and shortcomings were brought to light.Unfortunately, the deficiencies overshadowed the progress, as conveyed through infographics presented...

Starting from June 11, 2024, adult applicants for Schengen visas will see an increase in fees from €80 to €90.This adjustment stems from the most recent review of EU visa fees, conducted in December...

Deputy Finance Minister Dr. Stephen Amoah has responded to critics attributing the current cedi depreciation to President Akufo-Addo’s government.During a media interaction on May 29, the Nhyiaeso MP emphasized that cedi depreciation has...

Chief Executive Officer of the Ghana National Chamber of Commerce and Industry (GNCCI), Mark Badu-Aboagye, has expressed concerns about the potential impact of long-term plans to address the depreciation of the Cedi on local...

In May 2024, inflation is projected to decrease to a level of 21% and is anticipated to conclude the year at approximately 17%.GCB Capital attributes this to base effects.Nevertheless, it voiced apprehension regarding the...

The Institute for Energy Security (IES) has predicted another fuel price hike in the first half of June 2024.This forecast is based on recent trends in the international fuel market and the weakening performance...

Ghana's Finance Minister, urges investors to aid the nation's economic recovery as growth exceeds forecasts.Stressing Ghana's commitment to fostering a favorable business climate, he advocates for practical policies and engaging stakeholders actively to...

An illegal foreign exchange dealer operating in the black market under the pseudonym Abdullai Mohammed in a recent interview on Adom TV's Big Agenda show pointed fingers at certain banks in the country for...

The Governor of the Bank of Ghana (BoG), Dr. Ernest Addison, has informed the management of Société Générale Ghana that the central bank expects transparency regarding the individuals interested in acquiring shares in the...

The Ghana Chamber of Mines has named Michael Akafia its newest president.Currently holding the position of vice president of external affairs at Gold Fields Ghana Limited, Akafia's appointment comes with a rich reservoir of...

Former President John Mahama asserts that if he emerges victorious in the presidential election on December 7, 2024, his subsequent administration will refrain from employing state institutions to intimidate businesses.Addressing attendees at the 8th...

Founder and Chief Executive Officer of Groupe Ndoum, Dr. Paa Kwesi Nduom, is urging the government to settle a debt of GH¢7.1 billion owed to his defunct GN Bank.GN Bank became insolvent in 2017...

Economist Prof. John Gatsi has reacted to the government's response to the decline in the value of the country's local currency.He criticized Finance Minister Mohammed Amin Adam for attributing the cedi's falling streak to...

The Energy Ministry has denied claims made by social media commentator Kevin Taylor regarding a contract involving Tullow, Kosmos, GNPC, and Petro SA.Mr. Taylor alleged that Energy Minister Dr. Matthew Opoku Prempeh and the...

President of IMANI Africa, Franklin Cudjoe, has criticized successive governments for allegedly misappropriating funds from the National Investment Bank (NIB), arguing that the bank has failed to achieve its intended objectives and should cease...

President of the Ghana Union of Traders Association (GUTA), Dr. Joseph Obeng has expressed concern about the increasing presence of Chinese retail businesses in Ghana and has called for amendments to the country's labor...

Ghana's cocoa regulator intends to borrow up to $1.5 billion by September in order to finance the purchases of cocoa for 2024–2025 and compensate for low output ss per two COCOBOD sources who are...

The Minister of Finance, Dr. Mohammed Amin Adam, has announced that the government is poised to receive funds to recommence various stalled projects nationwide.These funds are anticipated following the signing of a Memorandum...

During the Ministry of Finance's monthly briefing on Friday, May 24, Finance Minister Dr. Mohammed Amin Adam unveiled Ghana's Gross Domestic Product (GDP) growth of 2.9 percent in 2023.This exceeded both the World...

Finance expert, Joe Jackson has challenged the government's reported figures concerning the depreciation of the cedi against major trading currencies in 2023.During a press briefing on May 24, 2024, Finance Minister Dr. Mohammed Amin...

Preparations for the launch of the Africa Energy Bank (AEB), a collaborative project spearheaded by the Africa Petroleum Producers Organization (APPO) and Afreximbank, have reached an advanced stage.Once established, the Bank will focus on...

The government has announced plans to enhance support for Small and Medium Enterprises (SMEs) through comprehensive training programs designed to boost their capacity and competitiveness.Finance Minister Dr. Mohammed Amin Adam made this announcement during...

Minister of Finance Dr. Mohammed Amin Adam addressed concerns over speculative activities impacting Ghana's currency, the Cedi, during his recent press briefing in Accra.He emphasized the need to curb these speculations for the country's...

Several months following the National Petroleum Authority's (NPA) CEO, Dr. Mustapha Abdul Hamid, voicing significant concerns regarding a revenue contract's possible duplicity between the revenue assurance company, Strategic Mobilization Limited (SML), and the Ghana...

Minister of Finance, Dr. Mohammed Amin Adam, has provided assurance to Ghanaians regarding the availability of an adequate supply of foreign exchange in the market to sustain the progress made in improving the performance...