Business

The Monetary Policy Committee of the Bank of Ghana has opted to hold the policy rate steady at 29% after its 119th regular meeting.This decision represents the third time in a row that the...

For the third straight time, the Bank of Ghana (BoG) has decided to keep the Monetary Policy Rate at 29 percent.The Monetary Policy Rate is the key interest rate set by the Central Bank,...

Ghana's overall international reserves remained robust in the first half of 2024.According to the Bank of Ghana, the total Gross International Reserves rose by $275 million to $6.865 billion in June 2024, up from...

Broadcaster Dr. Randy Abbey has criticized those promoting a credit scoring system as a transformative fix for Ghana's economic challenges.He argued that while a credit scoring system has its merits, it is not a...

Ghana launched the initial phase of its 1000 megawatts rooftop solar project on July 25, 2024, aimed at supplying power to companies in the free zone enclave.When fully completed, this solar project will become...

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 Committee on Mines and Energy, alongside the Committee on Lands and Forestry, after carefully reviewing feedback from all stakeholders regarding ElectroChem Mining’s operations, has instructed ElectroChem Ghana Limited to enhance their community engagement...

Imagine dedicating 30 years to your career, only to retire with a meager pension.This is the reality for numerous retirees who have invested their hard work and effort into the nation’s progress.Such is the...

The Ghanaian cedi has weakened by roughly 19.6% against the US dollar on the interbank foreign exchange market as of July 2024, according to the Bank of Ghana.This figure is less than the approximate...

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,...

Deputy Finance Minister Dr. Stephen Amoah emphasized that the government is putting significant effort into improving the country's economic conditions.His remarks respond to the Minority's critique of Finance Minister Dr. Mohammed Amin Adam, who...

The Ghana Association of Savings and Loans Companies (GHASALC) has linked the persistent rise in Non-Performing Loans (NPL) to public sector employees who take out loans, default on payments, and then leave the country.Tweneboah...

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...

Experts are alerting that a recent software update from cybersecurity firm CrowdStrike, which triggered a worldwide technology outage affecting businesses and institutions, including Microsoft, could also pose risks to local banks.The Africa Center for...

Tax experts have emphasized the urgent need for reforms to Ghana’s Value Added Tax (VAT) system, which has become excessively complex and obstructs business operations.During the launch of a recent World Bank report titled...

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...

Economist, Dr. Theo Acheampong is of the view that exchange rate volatilities could cause government to miss its end of year inflation target of 15 percent.Analyzing some of the revised macro-targets in the Mid-Year...

Economist Dr. Theo Acheampong has raised concerns that ongoing exchange rate fluctuations might hinder the government's ability to meet its year-end inflation target of 15 per cent.In his analysis of the recent Mid-Year...

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 Peasant Farmers Association of Ghana (PFAG) has verified that the ongoing maize shortage in the country has forced feed mills and processors to depend significantly on imports to satisfy demand.“As we speak, there...

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 has validated the Bank of Ghana's (BoG) decision to cancel Unicredit Ghana Limited's operating license.In a unanimous ruling, the court overturned the Court of Appeal's decision and confirmed the High Court's...

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...

Economist and Political Risk Analyst Dr. Theo Acheampong praised the government for not seeking extra funds in the supplementary mid-year budget.He attributed this decision to deferred expenditures and interest savings.During his speech to Parliament...

Finance Minister Dr. Mohammed Amin Adam has announced that, as of the end of June 2024, the provisional total central government debt stood at GH¢742.0 billion (US$50.9 billion), which equates to 70.6 percent of...

Nearly eight years after transferring power to the ruling New Patriotic Party (NPP), John Mahama claims that Ghana’s external debt has increased fourfold.The National Democratic Congress’ presidential candidate asserts that this surge in debt,...

The Member of Parliament for North Tongu, Samuel Okudzeto Ablakwa, stated that the primary goal of his petition to the Office of the Special Prosecutor (OSP) is to prompt the office to prevent the...

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...

The President of the Ghana Union of Traders' Associations (GUTA), Dr. Joseph Obeng, stated that the association's main focus is on maintaining the stability of the local currency.He called on the government to continue...

The Africa Centre for Digital Transformation (ACDT) has alerted banks in Ghana to potential cybercrime threats following a global software failure.On July 19, 2024, a problematic update from cybersecurity firm CrowdStrike affected millions of...

The Ghana Ports and Harbours Authority (GPHA) has declared that a group of former casual workers threatening to protest over alleged unpaid severance compensation has no legitimate case and is misleading the public.Moses Kwanayah,...

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...

The Minerals Income and Investment Fund (MIIF) has introduced a scholarship program designed to educate 1,000 women from mining communities across the country.The scholarship, offered through the George Grant University of Mines and Technology...

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...

Chief Executive Officer of Kumasi Metropolitan Assembly (KMA), Samuel Pyne, has announced that the government has allocated funds to restart the paused central market project.The construction company, Contrata, had vacated the site and dismissed...

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...

Finance Minister Dr. Mohammed Amin Adam has urged Saudi investors to help raise $12 billion over the next three years.He emphasized that this funding is crucial for restoring the country to its pre-COVID economic...

Director of Communications for Dr. Bawumia's campaign, Dennis Miracles Aboagye, clarified the New Patriotic Party flagbearer's promise to create a credit facility for citizens to purchase smartphones and pay in monthly installments of GH¢1...

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...

As Parliament reviews the contentious Barari lithium deal, a report by the Natural Resource Governance Institute (NRGI) suggests that the government may have secured a favorable arrangement.The initial lithium lease with Barari DV Ghana...

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...

Out of approximately 7.9 million registered taxpayers in Ghana, only about 1.5 million are actively paying taxes, according to Deputy Minister of Finance, Dr. Alex Ampaabeng.This figure represents approximately 19% of the registered...

The World Bank's latest Ghana Economic Update indicates that while the country has made "steady progress" towards economic stabilization, significant liabilities in the cocoa and energy sectors could pose risks to Ghana's "modest recovery."Released...

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...