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Slowdown in Govt of Ghana’s bond market amid decreasing T-bill yields

Activity in the secondary bond market for Government of Ghana papers slowed, with the total volume traded declining by 16.25% week-on-week to GHC1.33 billion.Significantly, transactions from the February 2028 (coupon: 8.50%) and February 2029...

Profile of Access Bank’s new CEO, Bolaji Agbede

Access Holdings Plc, following the tragic passing of the Group's CEO, Herbert Wigwe, has named Bolaji Agbede as the Acting Group Chief Executive Officer.“Further to its announcement dated February 11, 2024, the Board of...

43% of Ghanaians are scared of taking financial risks due to DDEP, others – Report

A 2023 report released by Old Mutual financial services, 43 percent of Ghanaians were found to be ill-equipped to engage in any type of financial risk. This lack of preparedness was attributed to a...

Tweneboah Asirifi appointed Board Chair of GCB Bank PLC

GCB Bank PLC (GCB) has officially appointed Mr. Daniel Kwaku Tweneboah Asirifi as its new Board Chairman, succeeding Mr. Jude Kofi Arthur after the completion of his tenure. Mr. Asirifi's appointment has been confirmed...

Naira hits record low with N1,534/$ on official market

On Monday, the Nigerian naira plummeted to a historic low of N1,534 against the US dollar on the official Nigerian Autonomous Foreign Exchange Market.This represents a 3.93 percent decrease or N58 from the...

A dollar selling at GHC12.80 as demand for foreign currency grows

Continued demand pressures for the dollar are expected to exert further downward pressure on the cedi's performance this week, according to reports.Last week saw a slight depreciation of the local currency, resulting in...

43% of Ghanaians are financially risk-averse – Report

The 2023 Old Mutual Financial Services Monitor has revealed insightful trends regarding the financial behaviors of Ghanaians.Forty-three percent of Ghanaians exhibit a low-risk inclination, preferring not to take any financial risks.This cautious...

Bolaji Agbede appointed Acting CEO of Access Bank Group

Access Holdings Plc has named Bolaji Agbede as the Acting Group Chief Executive Officer following the tragic passing of the Group's CEO, Herbert Wigwe.“Further to its announcement dated February 11, 2024, the Board...

ORC to remove about 8,531 companies from its register

The Office of the Registrar of Companies (ORC) has initiated proceedings to deregister approximately 8,531 companies from its register.This move comes as a result of these companies failing to file their annual returns, along...

364-day T-bills ‘hot cake’ for investors as yields reach GHC2.29bn

The Treasury market continues to show strong momentum, with investors demonstrating heightened interest in T-bills during the latest money market auction.Bids totaled GH¢6.96 billion against a GH¢4.59 billion target, resulting in an impressive...

Secondary bond market for govt shows slow growth by 16%

Activity in the secondary bond market for Government of Ghana papers slowed down, with the total volume traded declining by 16.25% week-on-week to GH¢1.33 billion.Most notably, trades from the February 2028 (coupon: 8.50%) and...

Bawumia’s flat tax regime welcomed by Abossey Okai Spare Parts Dealers Association

The Abossey Okai Spare Parts Dealers Association has thrown its weight behind Dr. Mahamudu Bawumia's proposition to introduce a simplified flat tax system should he assume the presidency.In a released statement, the association urged...

Dr. Kwakye blasts BoG, Finance Minister and Bawumia for disregarding GH¢60.81 billion loss in 2022

Senior Economist and Director of Research at the Institute of Economic Affairs (IEA) Dr. John Kwakye, has voiced criticism against the NPP flagbearer, Dr. Mahamudu Bawumia, for characterising the GH¢60.81 billion losses incurred by...

MP Michael Okyere Baafi lauds Dr Bawumia’s economic revolution, calls for support ahead of elections

Member of Parliament (MP) for New Juaben South Constituency in the Eastern Region, Michael Okyere Baafi, has commended Vice President Dr Mahamudu Bawumia for unveiling what he describes as a real economic revolution poised...

Ghana ranked as third country with highest cost of living in West Africa – Numbeo Data

A latest data from Numbeo has ranked Ghana as the third country in West Africa with the highest cost of living.Additionally, it holds the 20th position among 24 African countries with the lowest...

Wenchi cashew buying to pay levies, rates to Municipal Assembly

The Wenchi Municipal Assembly, in collaboration with the Wenchi Traditional Council in the Bono Region, has established a Memorandum of Understanding (MOU) with cashew-buying companies to pay rates and levies on every bag of...

BoG to stop some operations owing to GHC60bn loss – IEA Director

Director of Research at the Institute of Economic Affairs (IEA), Dr. John Kwakye, has criticized the characterization by New Patriotic Party flagbearer Dr. Mahamudu Bawumia of the GH¢60.81 billion losses posted by the Bank...

Government makes GH¢6.84 billion from treasury bills auction, highest so far this year

Government successfully secured GH¢6.84 billion in treasury bill sales, surpassing its target of GH¢4.587 billion.This comes after the Bank of Ghana's (BoG) weekly Treasury Bill Auction, conducted on February 9, 2024.This resulted in...

8,531 defaulting companies to be deregistered by May

The Office of the Registrar of Companies (ORC) has initiated legal proceedings to deregister 8,531 companies Limited by Shares for defaulting by the end of May this year.The ORC stated that this decision is...

We will bring it back – KT Hammond announces intention to re-introduce Import Restrictions Bill

Minister of Trade and Industry, Kobina Tahir Hammond, has announced the government's intention to reintroduce the contentious Import Restrictions Bill to parliament in the near future.Last year, the Legislative Instrument (L.I.) faced significant opposition...

US$1.06bn inflow was recorded by Petroleum Holding Fund in 2023 – Report

In 2023, despite economic challenges, the Petroleum Holding Fund (PHF) reported a total inflow of US$1.06 billion, marking a slight decrease from 2022's figure of US$1.43 billion, as revealed in the latest report by...

Businesses will increase prices of goods and services over implementation of Emissions Levy – Bright Simons

Vice President of IMANI Africa, Bright Simons, has suggested that businesses in the country will transfer the burden of the Emissions Levy to customers.This means that the additional costs incurred due to the levy...

Our mass sprayers have not become impotent, blind – COCOBOD

The Ghana Cocoa Board (COCOBOD) has dismissed allegations of neglecting to provide essential medical care to its contracted mass cocoa sprayers in response to concerns raised by the Ghana National Association of Cocoa Farmers...

GUTA to ensure accountability of presidential candidates in a new social contract

Ghana Union of Traders Association (GUTA) has made a significant decision to establish a social contract with all presidential candidates competing in the upcoming 2024 presidential election.This proactive step aims to ensure accountability...

I will let 100% of gold reserves go to the country – Bawumia

Flagbearer of the New Patriotic Party, Dr Mahamudu Bawumia, has underscored the importance of maximizing the benefits derived from Ghana's abundant natural resources to foster job creation, enhance livelihoods, and strengthen the domestic economy.In...

Passengers to go stranded on Feb. 13 as drivers prepare to strike over VAT on electricity

Ghana Private Road Transport Union (GPRTU) has declared its intention to join Organized Labour in a planned demonstration against the implementation of Value Added Tax (VAT) on the domestic consumption of electricity. The demonstration...

Tingo ceases operations in Ghana – Report

Vice President of the think-tank IMANI Centre for Policy and Education, Bright Simons, has reported what he believes is the end of Tingo's operations in the country.In a post on X, Mr Simons indicated...

GPRTU to partner organised labour to demonstrate against VAT on electricity

Ghana Private Road Transport Union (GPRTU) has declared its intention to join Organized Labour in a planned demonstration against the implementation of Value Added Tax (VAT) on the domestic consumption of electricity. The demonstration...

AGI president raises concerns over unrestrained free market impact on Ghana’s manufacturing sector

President of the Association of Ghana Industries (AGI), Dr Humphrey Ayim-Darke, has expressed reservations about the adverse effects of an overly liberalized market on Ghana's economy, particularly its manufacturing sector.Speaking during an interview on...

Govt’s payroll no longer has ghost names – Controller and Accountant General claims

Controller and Accountant General Kwasi Kwaning Bosompem has assured the public that there are no ghost names on the government's payroll.He made this statement during a gathering in Kumasi, attributing the transparency to...

Amnesty will not address problems with Ghana’s tax system – Economist

A Professor of Economics at the University of Cape Coast (UCC), John Gatsi, has voiced skepticism regarding the proposed tax amnesty put forth by Vice President Dr. Mahamudu Bawumia.Prof. Gatsi doubts that this...

Lies, ignore them – BoG on purported new 500 Cedis note in circulation

Bank of Ghana (BoG) has strongly denied recent claims circulating on various social media platforms regarding the introduction of new GH₵500 banknotes.These claims gained momentum following a video circulating on TikTok suggesting that...

Construction of lithium mine will begin in 2025 – Bright Simons claims

Vice President of the think-tank IMANI Centre for Policy and Education, Bright Simons, has raised significant concerns regarding the timeline and terms of Ghana's first lithium mining project.According to Mr Simons in a post...

Over 500,000 hectares of cocoa farms destroyed by swollen shoot disease – COCOBOD

The Chief Executive of Ghana Cocoa Board (COCOBOD), Joseph Boahen Aidoo, has raised alarm over the severe impact of the Cocoa Swollen Shoot Viral Disease (CSSVD), disclosing that more than 500,000 hectares of cocoa...

Ghana’s oil revenue declines to $521M – BoG

The latest semi-annual report of the Ghana Petroleum Holding Fund (PHF), disclosed by the Bank of Ghana, indicates that the country received over $521 million in the second half of 2023.However, this amount...

Oil prices rise as Israel rejects ceasefire offer from Hamas”

Oil prices rose on Thursday following Israel's rejection of a ceasefire offer from Hamas and a weaker dollar. Brent crude futures increased by 0.4% to $79.56 a barrel, while U.S. West Texas Intermediate crude...

First National Bank partners MTN to offer MoMo services

First National Bank Ghana has announced a strategic partnership with Mobile Money Limited to introduce MoMo services across all channels.This collaboration is in line with the bank's reinvigorated brand and our dedication to...

Be cautious about online deals on Val’s Day – Cyber Security Authority warns

The Cyber Security Authority (CSA) has issued a public advisory cautioning against potential online threats during Valentine's Day, as cybercriminals often exploit this occasion to deceive unsuspecting individuals.In a statement released on February 7,...

Bawumia promises to reduce cost of public transport between 30-40% if elected president 

Vice President Dr Mahamudu Bawumia has promised to reduce the cost of transportation between 30 to 40% if given the nod as President.He made the remarks while unveiling his plans for the country if...

Bawumia pledges adoption of Electric Vehicles to reduce transportation costs

Vice President Dr Mahamudu Bawumia has unveiled plans to introduce electric vehicles (EVs) in Ghana's transportation sector, aiming to significantly reduce the cost of public transportation if his administration is elected in the 2024...

Bawumia announces plan for business-friendly flat tax regime when he becomes president

The 2024 presidential candidate of the ruling New Patriotic Party (NPP), Dr. Mahamudu Bawumia, has pledged to implement a straightforward, citizen- and business-friendly flat tax system if elected president in the upcoming December elections.Addressing...

Kasapreko has a better credit than Ghana govt – Bright Simons

Vice President of think-thank IMANI Centre for Policy and Education, Bright Simons, has reacted to Kasapreko listing the first part of its GHS600 million bond programme on the Ghana Stock Exchange.This bond programme is basically...

Debt-to-GDP is 66% – Bawumia

Vice President Dr Mahamudu Bawumia has noted that Ghana's debt-to-GDP ratio as of 2023 stood at 66.4 percent.This is marginal growth following the 76.6% recorded in 2021.The debt-to-GDP ratio is a measure used to...

Ghana accumulates $521.86m from its crude oil exports for 2023

In the latter part of 2023, Ghana's Second-Half Petroleum Funds report reveals significant earnings from crude oil, totaling $521.86 million.Of this, $319.73 million came from liftings between May and October 2023.In addition to...

Kasapreko offers bond with coupon rate of 26%

Kasapreko, a Ghanaian company that makes beverages, has announced that it has listed the first part of its GHS 600 million Bond Programme on the Ghana Stock Exchange.This bond programme is basically a...

Govt outperforms T-bill goal, secures GHC22.06b in January 2024

In January 2024, the government exceeded its treasury bill target, borrowing GH¢22.06 billion, marking an increase of approximately 35.80% from the planned GH¢15.13 billion.The majority of bids were dominated by the 91-day T-bill,...

One Airport Square now owned by a Real Estate company

The Sentinel Commercial Real Estate Investment Trust (Sentinel REIT), the pioneer Real Estate Investment Trust (REIT) licensed under the current Securities and Exchange Commission (SEC) REIT Guidelines, has completed the acquisition of One Airport...

Telecel Ghana to formally replace Vodafone on February 28th

Effective February 28, 2024, Ghana Telecommunications Company Limited (GTCL), formerly known as Vodafone Ghana, will rebrand to Telecel Ghana.This decision stems from the approval granted by the National Communication Authority (NCA) for Telecel's...

Allegations of misusing contingency funds inaccurate, unfounded – Ministry of Finance

Recent media reports alleging that Finance Minister Ken Ofori-Atta misused GH¢77 million from the Contingency Vault for football, with ₵27.9 million allocated to the Black Stars, have been refuted by the Ministry of Finance.In...

Alan Kyerematen vows to scrap E-Levy if elected President

Leader of the Movement for Change and a 2024 Independent Presidential aspirant, Alan John Kwadwo Kyerematen, has made a bold pledge to abolish the controversial Electronic Transaction Levy (E-Levy) if he assumes office as...

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