Business

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,...

The Bank of Ghana (BoG) has defended its decision to revoke GN Bank's license in 2019, pointing to major regulatory violations.In a detailed statement, the Central Bank clarified that the now-defunct bank failed to...

Director of Research at the Institute of Economic Affairs (IEA), Dr. John Kwakye, stressed the importance of establishing an independent fiscal advisory council in Ghana, free from government interference.He defined a fiscal council (FC)...

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...

The Minister of State at the Finance Ministry Abena Osei Asare has assured that government remains committed to fiscal prudence and discipline with its expenditure in the coming months to help sustain the slowdown...

We A development economist at the University of Ghana, Dr. George Domfe, has asserted that the cedi, the local currency, will continue to face challenges until Ghana can produce sufficient goods for its citizens...

Approximately eighty workers of BCM Ghana Limited, who were unlawfully dismissed, have appealed to the Ministry of Lands and Natural Resources and relevant state institutions to lead the charge in demanding justice for the...

Deputy Finance Minister Stephen Amoah has disclosed that Ghana is set to receive a US$2 billion concessionary loan from South Korea, aimed at aiding the country’s economic transformation.This loan is expected to complement other...

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...

Former Finance Minister Ken Ofori-Atta has advised West African nations to reconsider their pursuit of introducing the single currency, known as the ECO, for the region.Initially slated for introduction in 2021, the outbreak of...

MultiChoice, the owner of DStv, has disclosed a substantial R4.1 billion loss for the fiscal year ending March 31, 2024, leading to technical insolvency.On Wednesday, the South African pay television company revealed a pre-tax...

The Consumer Protection Agency (CPA) has issued a warning regarding the widespread presence of substandard and unlabeled paints in the Ghanaian market, particularly those deceptively branded as "American Paints."During a press conference on Wednesday,...

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 Ghana Statistical Service (GSS) 2023 Annual Household Income and Expenditure Survey unveils that more than 1.1 million children, aged 5 to 17 years, participated in various forms of work during the fourth quarter...

Finance minister, Dr. Amin Adam is optimistic about the approval of the third tranche funding support of $360 million from the International Monetary Fund (IMF) after its review.His confidence stems from the government's attainment...

A Deputy Finance Minister, Dr Alex Ampaabeng, is proposing for digital platforms like YouTube, Facebook and many others to be taxed to bolster the country’s economy.The deputy finance minister believes that these digital commercial...

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 Omanhene of the Dormaa Traditional Area, Osagyefo Oseadeeyo Dr. Agyemang Badu II, has announced his intent to invite mining companies into his region to enhance employment and development.In a video observed by GhanaWeb,...

A prominent delegation from the Kenyan Council of Governors expresses confidence in the Jospong Group's potential to collaborate with Kenya in tackling its sanitation issues.They see Jospong as a pivotal ally in environmental...

The government has obtained debt service relief, which will unlock resources for essential infrastructure projects.At a press briefing, Minister of Finance Dr. Mohammed Amin Adam announced that the agreement, formalized through a memorandum of...

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...

The European Commission, a division of the executive branch of the European Union (EU), has announced a 12% hike in visa application fees for short-stay Schengen visas (type C) to its member nations, effective...

The world's second-largest cocoa producer, Ghana, is planning to postpone the delivery of up to 350,000 tons of beans to the next season due to poor crop yields, five sources informed Reuters. This decision...

The country is singled out as one of the leading nations experiencing substantial revenue losses due to tax evasion, tax exemptions, and systemic tax inefficiencies.Speaking to journalists at the African Parliamentary Network on Illicit...

The nation’s economic prospects could receive a significant boost as the African Export-Import Bank (Afreximbank) considers an additional US$1.706 billion in transactions, according to the Ministry of Finance.This potential financing pledge is in addition...

The inflation rate in Ghana slightly declined from 25% in April 2024 to 23.1% in May 2024.Professor Samuel Kobina Annim, Government Statistician of the Ghana Statistical Service, disclosed this information during a press conference...

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...

To effectively empower farmers in the nation, Dr. Mahamudu Bawumia has pledged to provide them with credit facilities once he becomes president.Dr. Bawumia emphasized the crucial role agriculture plays in national development, thus making...

The African Development Bank (AfDB) indicates that Ghana's youth unemployment rate was 7.16% in 2023, with the issue being particularly severe among individuals aged.The bank's revised 2024 Africa Economic Outlook emphasizes that unemployment is...

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...

Vice president, Dr. Bawumia has affirmed that if elected, his administration would institute a research fund to bolster the practice of herbal medicine in the nation.During his three-day campaign tour and while addressing herbal...

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...

Civil society organizations (CSOs) within the education sector are demanding an immediate halt to all foreign master’s program scholarships.Their stance is a direct response to an advertisement by the Ghana Education Trust Fund (GETFund)...

The government has reached a Memorandum of Understanding (MoU) with the Official Creditor Committee (OCC) concerning the debt resolution terms agreed upon in January 2024.According to the Ministry of Finance, the OCC, co-chaired by...

The Ministry of Roads and Highways has declared its plan to involve key stakeholders in the process of reinstating road tolls, which were suspended in 2021.Roads Minister Francis Asenso-Boakye stated that bringing back tolls...

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...

Ghana’s inflation rate is projected to reach 20.9% by the end of 2024, according to the African Development Bank's updated 2024 African Economic Outlook.This figure is higher than the previously predicted 17.4%.This indicates that...

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...

Dr. Mahamudu Bawumia, the presidential candidate of the New Patriotic Party (NPP), has declared that the pension scheme for cocoa farmers will be launched this year.During his visit to Kumasi as part of a...

Ghana's cedi fell to a record low as businesses increased their demand for dollars to import fuel, pharmaceuticals, and other fast-moving consumer goods.The currency of the world's second-largest cocoa producer depreciated by 0.2% to...

The Center for Democratic Development (CDD-Ghana) has restated its call for an increase in mineral royalties allocated to mining districts.Despite Ghana's abundant resources, communities where minerals are extracted are notably underdeveloped.According to Emmanuel Yeboah,...

The Ghanaian cedi's steadiness against major foreign currencies is anticipated to persist this week, following a decline in demand for foreign exchange.The local currency regained ground against the dollar, pound, and euro in the...

Oil prices inched higher on Monday, driven by anticipated growth in fuel demand this summer, though gains were constrained by a stronger dollar, which was bolstered by diminishing prospects of immediate interest rate cuts.Brent...

Africa Data Centres and Onix Data Centre have strategically joined forces to broaden their data centre footprint in West Africa, particularly in Ghana.The collaboration seeks to improve digital infrastructure, support data sovereignty across borders,...