Business

Governor of the Bank of Ghana (BoG), Dr. Ernest Addison, has emphasized recent positive economic indicators indicating a recovery during his address at the SME Growth and Opportunity Summit in Accra on July 16,...

The World Bank has praised the Bank of Ghana for its independence, which has been crucial in the success of various policy reforms aimed at mitigating inflationary pressures on the Ghanaian economy.This acknowledgment was...

Former Deputy Minister for Works and Housing and ex-Deputy Ashanti Regional Minister, Samuel Yaw Adusei, announced that the upcoming National Democratic Congress (NDC) government led by John Dramani Mahama will create a secretariat to...

At the end of June, Ghana's cocoa production reached 429,323 metric tons, representing under 55% of the expected seasonal yield, as reported by the marketing board, COCOBOD.Global cocoa prices have surged since the beginning...

Asante Kwaku Berko, a former Managing Director of Tema Oil Refinery and a dual citizen of the United States and Ghana, has been extradited from the UK to face charges in the US.He...

Ghana's cocoa production for the season ending in June has been reported at 429,323 metric tons, marking a significant decline from its average seasonal output, according to data released by the Ghana Cocoa Board...

Lawyers for Kennedy Ohene Agyapong, the Board Chairman of Ghana National Gas Company Limited (GNGCL) and Member of Parliament (MP) for Assin Central Constituency, have refuted his involvement in a US$900 million deal being...

London-based financial analysis firm, Fitch Solutions has projected a 9% recovery in the value of the Ghanaian cedi against the US dollar by the end of 2024. This forecast comes amidst challenging conditions for...

Ghana's cocoa marketing board, Cocobod, reported a profit of 2.3 billion cedis ($149.84 million) for the 2022/23 fiscal year, according to a report from the country's auditor general obtained by Reuters on Tuesday.The report...

Stakeholders in the real estate sector are expressing concern over the government's reinstatement of a 17.5 percent Value Added Tax (VAT) on the sale of immovable properties.They contend that the tax is stifling sector...

Several Oil Marketing Companies (OMCs) have begun adjusting prices for petroleum products at their pumps due to recent developments in the global oil market and currency fluctuations.Shell has increased its prices, with petrol now...

A finance expert affiliated with the Centre for Social Justice (CSJ), Haruna Alhassan, has underscored the urgent need for Ghana's central bank to revise upward the minimum capital requirement for banks.Speaking at...

The Ghana cedi is expected to recover some of its losses in the coming days after showing improved performance against the US dollar last week.The local currency appreciated by 0.10% against the US dollar,...

To address the financing gap for micro, small, and medium-sized enterprises (MSMEs), 15 Ghanaian financial service providers have teamed up with the Support to Private and Financial Sector (PFS) Programme to create innovative financial...

Several Oil Marketing Companies (OMCs) have begun raising the prices of petroleum products at the pump.Shell is at the forefront, with petrol priced at ₵15.10 per litre and diesel at ₵15.25.OMCs informed JoyBusiness that...

The total market turnover soared by 191% week-on-week, reaching GH¢1.54 billion last week, driven by repo transactions.Short-to-medium term maturities made up 59.77% and 40.23% of the total volume traded.The total volume increased from GH¢527.72...

A prominent research and public policy think tank, CUTS International Accra, is urging the Minister for Trade and Industry, K.T. Hammond, to withdraw the Ghana Standards Authority (Pricing of Cement) Regulations 2024 from Parliament.Instead,...

On Monday July 15, China’s National Immigration Administration (NIA) revealed an extension of its 144-hour visa-free transit policy to three more entry points.With this update, the policy now covers a total of 37 ports.The...

The Director-General of the Ghana Tertiary Education Commission (GTEC), Professor Ahmed Jinapor Abdulai, has called on the striking members of the Colleges of Education Teachers Association of Ghana (CETAG) to resume their roles in...

Dr. John Kwaye of the Institute of Economic Affairs has criticized Ghana's reliance on IMF disbursements to stabilize the Cedi, deeming it unsustainable.He advocates for leveraging Ghana's natural resources for foreign exchange instead, emphasizing...

Organised Labour has cancelled its strike after an emergency meeting on Monday, July 15, 2024.A press release, signed by Dr. Yaw Baah, Secretary General of the Trades Union Congress; Dr. Isaac Bampoe Addo, Chairman...

Kofi Bosompem Osafo-Maafo, Director-General of the Social Security and National Insurance Trust (SSNIT), has indicated that the Trust's management and board will engage with Organised Labour to discuss the next steps following the cancellation...

In the aftermath of IMF's approval of the second review of Ghana's Extended Credit Facility (ECF) arrangement, Director of Research at the Institute of Economic Affairs (IEA), Dr. John Kwakye, has criticized the US$360...

In its most recent treasury bill auction, the government raised GH¢4.488 billion, falling short of its GH¢4.721 billion target.The auction held on July 12, with results issued on July 15, secured GH¢3.540 billion for...

The Centre for Social Justice (CSJ) hosted the 13th edition of its influential Leadership Dialogue Series (LDS) on Friday, July 12, 2024, presenting robust economic recovery proposals for Ghana.The event, themed "Ghana’s Economy from...

Fitch Solutions predicts that the Ghana cedi will regain some value against the dollar in the upcoming months.The London-based firm attributes this improvement to enhanced investor sentiment, increased dollar inflows, and more favorable external...

The Chamber of Petroleum Consumers (COPEC) has projected a 4% increase in petroleum product prices starting Tuesday, July 16, 2024.According to COPEC, the rise in retail prices for Petrol, Diesel, and LPG is attributed...

Ghana's currency, the cedi, continues to lose value relative to major foreign currencies, especially the US dollar.Reports received has it that the cedi is trading at GH¢15.67 per US dollar at some foreign exchange...

Organised Labour members are set to hold an emergency meeting on July 15 to decide their next steps following the decision to launch an industrial strike in response to the sale of 60% of...

Finance expert at the think tank Centre for Social Justice (CSJ), Haruna Alhassan, has stated that the central bank will need to increase the minimum capital requirement for banks under the next government to...

The liquidity situation in Ghana's money market remains constrained as the government fell short of its treasury bill target by GH¢252.72 million.According to the latest auction results from the Bank of Ghana, the...

The Global Chairman of Groupe Nduom, Dr Papa Kwesi Nduom, has alleged that the Central Bank of Ghana intentionally misrepresented the debt value of his now-defunct GN Bank to facilitate its closure.Dr. Nduom disclosed that...

Unilever has announced plans to reduce a third of its office-based positions in Europe by the end of 2025, according to the consumer goods company.This decision follows their March announcement to implement cost-cutting measures...

The Social Security and National Insurance Trust (SSNIT) has declared the cancellation of the sale of four hotels from its business portfolio.In a statement dated July 12, 2024, SSNIT announced the halt of the...

Finance Minister Dr. Mohammed Amin Adam acknowledged the challenges and unexpected shocks faced by the Ghanaian economy, emphasizing its resilience amid global economic uncertainties. He highlighted the government's effective strategies in economic recovery, which...

The Bank of Ghana (BoG) has reported a notable decrease in customer complaints lodged against banks, specialized deposit-taking institutions (SDIs), other financial institutions, and payment systems and service providers in 2023.According to their 2023...

A recent analysis by the 3News Research Desk has highlighted the significant impact of inflation on the purchasing power of the Ghanaian cedi.According to the report, GHC1000 in 2021 now holds the equivalent...

GCB Capital has revealed that despite the ongoing disinflation trend, the near-term outlook for inflation remains uncertain.While they anticipate continued disinflation through the latter half of 2024, they highlight that inflation levels remain...

General Secretary of the Ghana Federation of Labour of the Trade Union Congress (TUC), Abraham Koomson, has stated that he is astonished at the National Pensions Regulatory Authority’s (NPRA) decision to approve the sale...

President of the Advertising Association of Ghana, Andrew Ackah, has voiced concerns about charlatans within the advertising industry who use coercion as part of their practices.Mr. Ackah noted that many businesses are advertising on...

In the trial of the Founder of the former Beige Bank Limited, a witness testified that the bank purchased foreign currency from his unlicensed company.Samuel Gariba, a subpoenaed defence witness, stated today (Wednesday, July...

An illegal market for pre-registered Subscriber Identity Module (SIM) cards is quietly growing across the country.The media's investigation revealed a network of vendors profiting from this trade. Some vendors work discreetly in bustling markets...

CEO of the Chamber of Independent Power Producers, Dr. Elikplim Kwabla Apetorgbor has critiqued Finance Minister Dr. Mohammed Amin Adam's recent statements regarding the restructuring of Independent Power Producers (IPPs) debts. Apetorgbor disputes the...

Atlantic Lithium has halted operations at its Ewoyaa lithium project in the Central Region following a fatal accident earlier this week.The Australian company has confirmed that the authorities have been informed, and an investigation...

The Bank of Ghana (BoG) has reiterated that poor corporate governance was a significant factor contributing to the excessive and irresponsible risks taken by some financial institutions, which ultimately necessitated a comprehensive clean-up exercise...

Minister of Works and Housing Kojo Oppong Nkrumah reported that construction of 200 State Housing Company (SHC) homes in Amrahia has reached 75% completion.He stated that the project aims to reduce housing costs for...

The Electricity Company of Ghana (ECG) has announced emergency maintenance on the Nuri Kamstrup Prepayment Server.The maintenance is set to commence on Friday, July 12th at 11:00 pm and will conclude on Sunday, July...

Ghana currently holds the 6th position in Africa for the highest food inflation rates.In May 2024, Ghana recorded a food inflation rate of 22.6%, according to the World Bank’s Food Security Update.Malawi and Nigeria...

Chief Executive Officer of the Ghana Cocoa Board (COCOBOD), Joseph Boahen Aidoo, has noted that the cocoa bean forward sales is imperative in fostering sectoral growth and sustainability.His remarks come in response to calls...

By 2030, many Ghanaians may face hunger and malnutrition due to a projected decline in national fish production, according to Dean of the School of Natural Resources at the University of Energy and Natural...