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Prices of petrol, diesel to surge by over 6% from tomorrow – COPEC

The Chamber of Petroleum Consumers (COPEC) has projected an increase in fuel prices starting from tomorrow, February 16, 2024. According to COPEC, the price of petrol may rise by 6.63%, while diesel will increase...

15% tariff increase has saved MTN from collapsing – CEO

The Chief Executive of MTN Ghana, Selorm Adadevoh has justified the recent 15% increase in tariffs for all its products and services, emphasizing the necessity to safeguard the company's viability.Engaging the media,  Adadevoh explained...

New Finance Minister has limited scope to transform economy – Prof Gatsi

Dean of the University of Cape Coast (UCC) Business School, Professor John Gatsi, emphasized that Dr. Mohammed Amin Adam, the newly nominated Finance Minister, is constrained to continue with existing economic programs.According to Prof....

I will ensure IMF programme remains on track – Amin Adam

The newly appointed Finance Minister, Dr. Mohammed Amin Adam, has reassured the International Monetary Fund (IMF) that the government will steadfastly adhere to the ongoing program.This commitment comes as Dr. Amin Adam takes...

We will only give you lithium if you provide us factories – Mfantseman chiefs to Atlantic Lithium Ltd

The chiefs of Mfantseman are advocating for the construction of factories as part of the agreement for the Ewoyaa Lithium mining project.They believe that this would help create employment opportunities for the youth...

Bank of Ghana implements measures to avoid EU, UK blacklisting risk

In a bid to mitigate the risk of being blacklisted by the European Union and the United Kingdom, the Bank of Ghana has announced proactive measures.These steps underscore the institution's dedication to collaborative...

Ghana Statistical Service reports increase in January 2024 inflation

Recent data released by the Ghana Statistical Service reveals a slight uptick in inflation, reaching 23.5 percent in January 2024.This marks a reversal from five consecutive months of decline. On February 14, 2024,...

SSNIT supports pensioners’ healthcare with a sum of GHS1m

The Social Security and National Insurance Trust (SSNIT) continues its backing of the National Pensioners Association (NPA) by presenting a cheque of GHC1 million.This contribution is specifically designated to bolster the healthcare services...

Study shows 43% of Ghanaians display low inclination towards financial risk

A low-risk inclination is indicated by the fact that 43% of Ghanaians, according to the 2023 Old Mutual Financial Services Monitor, are unwilling to take any financial risk.According to the survey, which was carried...

Inflation marginally increases to 23.5% in January

Ghana's inflation rate experienced a slight increase from 23.2% to 23.5% in January 2024, reversing the declining trend seen from July to December 2023.This uptick is primarily due to higher non-food inflation drivers...

Housing minister announces digitalization of Rent Control Department

Minister of Works and Housing, Francis Asenso-Boakye, has revealed plans for the Rent Control Department to undergo digitalization, encompassing all its operations, including client interactions for complaints and payment services.According to Asenso-Boakye, the forthcoming...

Amazon founder Jeff Bezos sells shares for more than $4 billion

Jeff Bezos, a wealthy individual, sold off more of his stake in Amazon.He made over $4 billion in sales in the past few days.The big technology company, which Mr. Bezos started in 1994, said...

$12m was invested in Agyapa Royalties deal by govt – MIIF CEO

In a recent Public Accounts Committee (PAC) meeting, Edward Nana Yaw Koranteng, CEO of the Minerals Income Investment Fund (MIIF), shared that the government had utilized $12 million on the halted Agyapa royalties deal.The...

Daniel Kwaku Tweneboah Asirifi appointed new Board Chairman of GCB Bank

GCB Bank PLC (GCB), has named Daniel Kwaku Tweneboah Asirifi as new Board Chairman, succeeding Jude Kofi Arthur after the completion of his tenure and obtaining the necessary regulatory approvals.Mr. Asirifi holds Bachelor's and...

43% of Ghanaians unprepared for financial risks – Report

A 2023 report released by Old Mutual indicates that 43 percent of Ghanaians are ill-prepared to undertake any form of financial risk.This lack of readiness is attributed to a general reluctance among citizens...

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...

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