Business

China retained its status as Ghana's primary import source in 2023, with imports totaling GHC 33.9 billion, up from GHC 26.4 billion in 2022, as per the Ghana 2023 Trade Report by the Ghana...

The International Monetary Fund (IMF) has emphasized that debt transparency is not only beneficial for individual countries but also crucial for the IMF's operations.The IMF noted that hidden and opaque debt forms hinder its...

Private sector contributions to the Social Security and National Insurance Trust (SSNIT) in March 2024 hit an all-time peak of GH¢395.34 million, as reported in the Bank of Ghana’s Summary of Economic and Financial...

321-474 tons of African gold extracted through artisanal and small-scale mining remains unreported annually, with an estimated value ranging from $24 to $35 billion.SwissAid reports an alarming surge in the smuggling of African gold,...

A recent report from the Ghana Statistical Service reveals that the total value of international trade in the first quarter of 2024 stood at GH₵107 billion, with exports totaling GH₵59.5 billion and imports GH₵48.1...

South Korean billionaire Chey Tae-won has been instructed to pay his former spouse 1.38 trillion won ($1bn; £788m) in cash - marking the largest divorce payout in the nation's history.This verdict arrives almost ten...

The Ghana Revenue Authority (GRA) has offered further elucidation on the concept of absolute import prohibitions, underscoring their significance in upholding the nation's security.These prohibitions pertain to goods considered illicit according to international trade...

Ghana achieved a significant trade surplus of GH¢11.5 billion in the first quarter of 2024, amid a 20.4% increase in the average prices of export commodities compared to Q1 2023.The Ghana Statistical Service (GSS)...

Ghana and the African Development Bank have inked the Indicative Operations Programmes, mapping out projects slated for execution between 2024 and 2025.The proposed initiatives span support for Small and Medium Enterprises, Agriculture, and...

Ghana and the African Development Bank (AfDB) have signed the Indicative Operations Programmes, outlining the projects to be implemented between 2024 and 2025.These projects include support for Small and Medium Enterprises (SMEs), agriculture,...

The National coordinator of Cashew Watch Ghana (CWG), Raphael GodLove, asserts that the nation's cashew sector serves as a beacon of optimism for economic advancement, poverty reduction, and employment generation.He emphasized that the cashew...

The African Petroleum Producers’ Organization (APPO) concluded its roundtable on gas flaring and fugitive methane emissions, with industry stakeholders committing to address environmental challenges through collaborative efforts, strict regulations, and advanced technologies.The two-day event...

Cocoa exports saw a significant decline in the first quarter of 2024, dampening the growth of the country's trade surplus, according to new data.Although the surplus is expanding nominally, this growth is primarily driven...

In the aftermath the one-year anniversary of Nigeria's current administration under President Bola Tinubu, both the country's achievements and shortcomings were brought to light.Unfortunately, the deficiencies overshadowed the progress, as conveyed through infographics presented...

The New Patriotic Party (NPP) flagbearer, Dr. Mahamudu Bawumia, has vowed to add 2,000 MW of solar power to Ghana's energy mix if elected President in the upcoming December 7 general elections.He expressed confidence...

The Majority Caucus in Parliament on Thursday accused the National Democratic Congress Minority Caucus of trying to hinder Ghana’s economic progress by consistently opposing certain tax exemptions currently being considered by the House.Consequently, the...

The Minister of Communications and Digitalisation, Ursula Owusu-Ekuful, has offered a rationale for the Nana Addo Dankwa Akufo-Addo administration's decision to grant the contract for implementing a 5G network in Ghana to NextGen InfraCo...

Starting from June 11, 2024, adult applicants for Schengen visas will see an increase in fees from €80 to €90.This adjustment stems from the most recent review of EU visa fees, conducted in December...

Deputy Finance Minister Dr. Stephen Amoah has responded to critics attributing the current cedi depreciation to President Akufo-Addo’s government.During a media interaction on May 29, the Nhyiaeso MP emphasized that cedi depreciation has...

The Ghana Stock Exchange (GSE) has initiated proactive measures to invigorate the commercial paper markets, with the goal of strengthening the nation's financial sector.This initiative underscores a deliberate transition towards promoting the trading of...

Gold trafficking from Africa, primarily directed towards the United Arab Emirates (UAE), has seen a significant increase over the past decade, with hundreds of tons of gold valued at tens of billions of dollars...

The Minister of Communication and Digitalisation, Ursula Owusu-Ekuful, has emphasized that Ghana's collaborative 5G infrastructure will revolutionize the telecommunications sector.This week, the government announced its collaboration with seven industry stakeholders to establish a new...

Member of Parliament for North Tongu, Samuel Okudzeto Ablakwa, has presented additional evidence supporting his stance against the proposed sale of government assets to a state minister.The proposed sale is related to Social Security...

Chief Executive Officer of the Ghana National Chamber of Commerce and Industry (GNCCI), Mark Badu-Aboagye, has expressed concerns about the potential impact of long-term plans to address the depreciation of the Cedi on local...

Ghana's non-traditional exports approached nearly $4 billion in 2023, marking an 11% rise from the $3.53 billion recorded in 2022.Despite this progress, the figure remains $21 billion short of the ambitious $25 billion target...

Private power producers in Ghana are considering pulling out of discussions aimed at restructuring $1.6 billion in outstanding payments, posing a challenge to the country's ongoing efforts to manage its debts.CEO of Independent Power...

In May 2024, inflation is projected to decrease to a level of 21% and is anticipated to conclude the year at approximately 17%.GCB Capital attributes this to base effects.Nevertheless, it voiced apprehension regarding the...

Private electricity producers in Ghana are considering withdrawing from negotiations to restructure $1.6 billion in outstanding payments, posing a potential obstacle to the country's ongoing efforts to manage its debts.According to Elikplim Apetorgbor, CEO...

Vice President Dr. Mahamudu Bawumia and former President John Dramani Mahama have both advocated for a simplified tax structure to facilitate easier calculation and adherence.As the standard-bearers of the New Patriotic Party (NPP) and...

The Institute for Energy Security (IES) has predicted another fuel price hike in the first half of June 2024.This forecast is based on recent trends in the international fuel market and the weakening performance...

Ghana's Finance Minister, urges investors to aid the nation's economic recovery as growth exceeds forecasts.Stressing Ghana's commitment to fostering a favorable business climate, he advocates for practical policies and engaging stakeholders actively to...

Governor of the Bank of Ghana (BoG), Dr. Ernest Addison has announced that the central bank will require a comprehensive list of individuals and organizations interested in acquiring shares of Societe Generale (SG) Ghana.Initial...

Ghana and Singapore have inked a pact enabling companies to purchase carbon credits from Ghana-based projects to offset a portion of their carbon tax liabilities.Singaporean firms can buy carbon credits, offsetting up to 5%...

Bank of Ghana Governor Ernest Addison informed reporters during a press conference on Monday, May 27, 2024, following the 118th Monetary Policy Committee meeting, that Ghana's major exports, including cocoa, gold, and crude oil,...

Bank of Ghana Governor Ernest Addison has indicated that key financial soundness indicators showed general improvement in the first four months of 2024, despite an increase in non-performing loans.Speaking at a press conference on...

The Institute for Energy Security (IES) has predicted that fuel prices will increase again in the first half of June 2024.This forecast is based on developments in the foreign fuel and domestic forex...

The Ghana Union of Traders Association (GUTA) warned Deputy Minister of Finance, Dr. Stephen Amoah, against statements that could incite the trading community.Dr. Joseph Obeng, the Union's President, expressed disappointment with the deputy minister's...

Today, May 29, 2024, the Interbank forex rates released by the Bank of Ghana indicate that the Ghana Cedi is trading against the dollar at a buying price of 14.0080 and a selling price...

In the first four months of 2024, the total value of mobile money transactions hit an all-time high of GH¢779.1 billion, marking a 41.55% year-on-year increase.This surge contrasts sharply with the GH¢330.9 billion...

Ranking Member on the Mines and Energy Committee of Parliament, John Jinapor, has expressed concern over the National Petroleum Authority's (NPA) decision to involve external entities in revenue management and assurance in the petroleum...

An illegal foreign exchange dealer operating in the black market under the pseudonym Abdullai Mohammed in a recent interview on Adom TV's Big Agenda show pointed fingers at certain banks in the country for...

The Governor of the Bank of Ghana (BoG), Dr. Ernest Addison, has informed the management of Société Générale Ghana that the central bank expects transparency regarding the individuals interested in acquiring shares in the...

Groupe Nduom (GN) has begun efforts to reclaim its banking license to restart operations throughout Ghana.At an event held on Sunday, May 26, 2024, at the former branches of the defunct bank in Brewa...

Recent data from the regulator suggests that banks are showing a greater inclination to maintain a significant portion of their deposits as reserves with the Bank of Ghana (BoG) rather than extending loans to...

The naira surged to its strongest level in over a month as Nigeria's central bank intervened in the foreign exchange market by selling dollars.On Monday, the naira strengthened by 9.7% to reach 1,339.33 per...

The African Development Bank expresses concerns regarding the sluggish and challenging debt resolution mechanism for Ghana and other debt-distressed African countries.According to the Development Bank, although the G20 framework on debt resolution has helped...

Today's Interbank forex rates from the Bank of Ghana, dated May 27, 2024, indicate that the Ghana Cedi is currently trading against the dollar at a buying price of 13.9480 and a selling price...

Global oil prices stabilized on Tuesday, with the potential for OPEC+ to maintain supply cuts at its June 2 meeting and expectations of robust U.S. summer fuel demand counterbalancing concerns over prolonged high U.S....

The Ghana Chamber of Mines has named Michael Akafia its newest president.Currently holding the position of vice president of external affairs at Gold Fields Ghana Limited, Akafia's appointment comes with a rich reservoir of...

Deputy Minister of Sanitation and Water Resources, Amidu Issahaku Chinnia, has urged for transparency concerning the finances designated for the Pwalugu Multipurpose Dam initiative in the Upper East Region.Expressing concern as the Member of...