Banking

Finance Minister leads Ghana’s delegation to IMF/World Bank annual meetings in Washington

Minister for Finance, Dr Cassiel Ato Forson, is leading a high-level government delegation to Washington, D.C., for the 2025 Annual Meetings of the International...

Cedi posts strong weekly gain, erases third quarter losses; up 5% against US dollar

The Ghana cedi has recorded one of its biggest gains against the dollar since the third quarter of 2025. Data from major commercial banks seen...

Ghana’s credit rating upgraded by Moody’s after nation cut debt

Moody’s Ratings raised Ghana’s sovereign credit rating, citing improved prospects for debt reduction. The West African nation’s long-term foreign currency debt was upgraded to Caa1...

De-dollarization: Not so fast; What it means for Africa

Why Must Global Trade Rely on the Dollar? On April 13, 2023, Brazil’s President Lula asked in Shanghai, “Why must global trade rely on the...

Banks move to engage Foreign Affairs Ministry over defaulting medical doctors abroad

President of the Ghana Association of Banks, John Awuah, says banks have begun engaging the Ministry of Foreign Affairs to deal with cases of...

IMF expected to reach staff-level agreement with Ghana on 5th programme review today

The International Monetary Fund (IMF) is expected to reach a staff-level agreement with Ghana on the 5th Programme Review today, October 10, 2025. This projection...

Nearly 70% of medical doctors default on their loans – GAB President

President of the Ghana Association of Banks, John Awuah, has revealed that nearly 70% of medical doctors who take loans from local banks default...

World Bank revises Ghana’s end-year growth rate upward to 4.3%

The World Bank now expects Ghana’s economy to end 2025 with a growth rate of 4.3%, up from its earlier projection of 3.9%. This was...

BoG begins FX sales under Domestic Gold Purchase Programme

The Bank of Ghana (BoG) has announced plans to commence foreign exchange (FX) intermediation under its Domestic Gold Purchase Programme starting October, 2025. The central...

Multimedia Group executives meet new Access Bank MD Pearl Nkrumah to deepen business relations

The leadership of Multimedia Group Limited has paid a courtesy call on Pearl Nkrumah, the incoming Managing Director of Access Bank Ghana. The visit was...

Cut lending rates further to support economic growth – BoG appeals to banks

The Governor of the Bank of Ghana (BoG), Dr. Johnson Asiama, has urged commercial banks to further reduce their lending rates to support businesses...

Banks ‘write off’ GH¢893m in half-year 2025

Banks in Ghana wrote off GH¢893.0 million in the first-half of 2025, a 14.8% decline compared to the same period in 2024. According to the...

It was my darkest, painful episode – Akufo-Addo on debt restructuring  

Former President Nana Akufo-Addo has described Ghana’s debt restructuring under the G20 Common Framework as “one of the darkest and most painful episodes” of...

Banks credit to private, public sectors dips 142% year-on-year to GH¢4.68bn in June 2025

The banks total credit to the private sector and public institutions dipped to GH¢4.68 billion in June 2025 from GH¢11.35 billion recorded in June...

Bond market: Turnover decline by 18% to GH¢906.14m

The secondary bond market turnover declined by 18.17% week-on-week to GH¢906.14 million from GH¢1.11 billion the previous week. The February 2027 maturity led flows with...

Finance minister welcomes IMF team for fifth review of Ghana’s programme

The Finance Minister, Dr Cassiel Ato Forson, today officially received the International Monetary Fund (IMF) Mission team, led by Dr Ruben Atoyan, to commence...

Ghana must break away from cyclical IMF Programmes – World Bank

The World Bank has urged Ghana to take bold and deliberate steps to end its repeated reliance on International Monetary Fund (IMF) loan-supported programmes. While...

IMF begins 5th Programme review of Ghana today

The International Monetary Fund (IMF) will today, September 29, begin its fifth review of Ghana’s performance under the Fund programme. The full mission team, led...

BoG sells US$243 million in FX forward auction, highest since beginning of 2025

The Bank of Ghana (BoG) has sold one of its highest amounts of dollars for the market through a single 7-day FX forward auction. Market...

Real banking is finally coming – AGI boss predicts lending rates will fall

The Association of Ghana Industries (AGI) is upbeat that the recent cuts in the Bank of Ghana’s policy rate will trigger a new phase...

World Bank rejects Akufo-Addo gov’t’s Covid-19, Russia-Ukraine War defence for 2022 economic crisis

The World Bank has dismissed the Akufo-Addo administration’s long-standing claim that Ghana’s 2022 economic collapse was driven by global shocks, stating instead that the...

Access Bank Ghana appoints Pearl Nkrumah as first female MD

Access Bank Ghana has named Pearl Nkrumah as its new Managing Director, effective October 1, 2025, making her the first woman to lead the...

Ghana has spent 40 out of 68 years under IMF programmes – World Bank

Ghana has spent 40 out of 68 years under International Monetary Fund (IMF) programmes, the World Bank has revealed in its 2025 Policy Notes...

4 out of 6 MPC members voted for 350bps cut in policy rate – BoG

Four out of the six members of the Monetary Policy Committee of the Bank of Ghana voted for the policy rate to be cut...

Financial literacy is not just a personal asset; it is a national necessity -BoG Deputy Governor

The First Deputy Governor of the Bank of Ghana, Dr. Zakaria Mumuni, has underscored the importance of deepening financial literacy across all sectors of...

BoG’s historic big cut faces tariffs, external shocks, and bank risks

The Bank of Ghana has delivered its largest rate cut in recent years, slashing the policy rate by 350 basis points to 21.5 per...

Major utility tariff adjustments expected from January 2026 under Multi-Year Review

A major review of utility tariffs is expected to take effect from January 2026, as part of the Multi-Year Tariff Order (MYTO) being undertaken...

IMF Staff Mission expected in Ghana from Sept. 29 for 5th Programme Review

An International Monetary Fund (IMF) staff mission is expected in Accra from September 29, 2025, for Ghana’s 5th programme review. The exercise will assess how...

T-bills auction: Gov’t records oversubscription after a week of missing target

The government recorded a 14.1% oversubscription of treasury bills auction just a week after missing its target. This is coming after yields were mixed on...

Gov’t moves to curb GH¢2.36bn annual losses in procurement

The government is rolling out sweeping reforms in the public procurement system to tackle the billions of cedis lost annually through irregularities, Deputy Minister...

BoG expects policy rate cut to lower lending costs by October

The Bank of Ghana (BoG) says its recent policy rate cut is expected to ease the cost of credit and bring down lending rates...

Monetary Policy Committee of BoG cuts policy rate to 21.5%

The Monetary Policy Committee of the Bank of Ghana (BoG) has reduced the policy rate by 350 basis points to 21.5% from 25%. The Governor...

All dollar requests from Commercial Banks met – BoG Governor

The Bank of Ghana (BoG) has assured that it has recently met all dollar requests and import demands from commercial banks. Governor Dr. Johnson Asiama...

Cedi appreciates 21% against dollar as of September 2025, but loses 19% in value since July

The Ghana cedi has appreciated by 21.0% against the US dollar in nine months of 2025. However, the local currency lost about 19% in value...

Cedi to record modest stability this week; one dollar going for GH¢13.60

The Ghana cedi is projected to record modest stability in the coming days as positive sentiment builds on the back of the World Bank’s...

Ghana’s trade surplus hits $6.2 billion in first eight months – BoG Governor

The Bank of Ghana Governor, Dr. Johnson Asiama, has revealed that Ghana’s trade surplus rose to $6.2 billion during the first eight months of...

BoG issues cyber and information security directive to protect financial sector

The Bank of Ghana (BOG) has issued the Cyber and Information Security Directive to solicit comments and inputs from the banking industry and the...

World Bank disburses $360 million to support Ghana’s economy

The World Bank has disbursed $360 million from its International Development Association (IDA) for Ghana. The disbursement is coming under the Second Resilient Recovery Development Policy Financing operation,...

Mahama confirms BoG has withdrawn from forex market

President John Mahama has revealed that the Bank of Ghana (BoG) has withdrawn its interventions in the foreign exchange market, a move that has...

GH¢12 rate stronger and more sustainable than GH¢10.5 – Joe Jackson

Chief Executive Officer of Dalex Finance, Joe Jackson, has attributed recent fluctuations in the Ghana cedi to deliberate measures by the Bank of Ghana,...