Banking

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Mahama confirms BoG has withdrawn from forex market

President John Mahama has revealed that the Bank of Ghana (BoG) has withdrawn its interventions in the foreign exchange market, a move that has...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

Government assures investors of fiscal discipline after IMF exit

Government is moving to reassure investors, donors, and markets that Ghana will maintain fiscal discipline after exiting the International Monetary Fund (IMF) programme in...

Ghana ineligible to receive U.S. foreign assistance for 2026 financial year under MCC

Ghana is ineligible to receive foreign assistance for the Financial Year 2026 from the United States under the Millennium Challenge Compact. This is pursuant to...

IMF Staff Mission expected in Ghana at end of September for 5th Programme Review

An International Monetary Fund (IMF) staff mission is expected in Accra at the end of September 2025 to assess Ghana’s economic progress and conduct...

We’re working with BoG to address FX trading suspension – UBA Ghana assures

United Bank for Africa (UBA) Ghana has assured customers that all deposits, transactions, and funds remain safe despite the suspension of its foreign exchange...

GRA can track your income even through friends – Chief Revenue Officer

The Ghana Revenue Authority (GRA) says that no one is beyond the reach of its tax surveillance systems, whether they operate through formal banking...

BoG suspends remittance partnership of 3 payment service providers

The Bank of Ghana (BoG) has announced the suspension of the remittance partnership of three Payment Service Providers for one month, effective September 18. The...

Bank of Ghana suspends UBA Ghana’s forex licence

The Bank of Ghana (BoG) has imposed a one-month suspension on the foreign exchange trading licence of United Bank for Africa (UBA) Ghana, starting...

Four financial priorities for new President of AfDB 

Congratulations, Sidi Ould Tah, on your recent appointment as President of the African Development Bank (AfDB). I am writing to share four critical insights from...

BoG increases dollar FX Forward Auction to banks

The Bank of Ghana (BoG) has increased the amount of Foreign Exchange (FX) Forward Auction to commercial banks. Information gathered by Joy Business indicates that...

Cedi falls on strong demand amid weak forex support; one dollar equals GH¢12.70 at forex bureaus

The Ghana cedi depreciated across both the interbank and retail markets last week following strong demand amid weak support for foreign exchange. It declined in...

People carrying over $1m out of Ghana without declaring – BoG Governor reveals

"People are carrying more than a million dollars out of Ghana without declaring it," Bank of Ghana Governor Dr. Johnson Asiama has revealed. Speaking on...

COCOBOD expecting over $4bn inflows before end of year to boost cedi

Bank of Ghana Governor, Dr. Johnson Asiama, has disclosed that COCOBOD is expecting inflows of more than $4 billion before the end of this...

Cedi’s current pressure is a short-term blip; things will normalise soon – BoG Governor assures

The governor of the Bank of Ghana (BoG), Dr Johnson Asiama, has described the current pressure on the cedi as a short-term blip and...

BoG directs mining firms to route forex through commercial banks

The Bank of Ghana (BoG) has instructed mining companies to channel their foreign exchange inflows through commercial banks instead of directly to the central...

BoG to strictly enforce foreign currency transfers; warns travellers against carrying more than $10,000

The Bank of Ghana (BoG) has announced amendments to its guidelines on the importation and exportation of foreign currency as part of efforts to...

BoG bans dollar pricing for school fees, rent, airline tickets, and more

The Bank of Ghana (BoG) has warned the public that all unauthorized foreign exchange transactions—including black market dealings, pricing, quoting, advertising, issuing receipts, and...

Forex scarcity fuelling mafia-style auctions at our ports – IEAG warns of mass action

The Importers and Exporters Association of Ghana (IEAG) has expressed serious concern over what it describes as a “mafia” system of illegal auctions at...

BoG’s policy rate to go down further in September 2025 – Report

The policy rate of the Bank of Ghana is expected to go down again in September 2025. According to IC Research, the research arm of...

GRA to deploy technology to track crypto accounts by year-end

The Commissioner-General of the Ghana Revenue Authority (GRA), Anthony Kwasi Sarpong, has assured that cryptocurrency traders in Ghana cannot evade taxes, as the authority...

Cedi crosses GH¢11 to US dollar amid supply pressures

The Ghana cedi has crossed GH¢11 to the US dollar, according to commercial bank quotes. Checks by Joy Business show that while some banks are...

Gov’t tightens gold sector oversight ahead of key financial evaluation

The Government of Ghana has pledged to intensify reforms in the gold sector as it prepares for a crucial international evaluation of its anti-money...

T-Bills auction: Gov’t misses target again; interest rates rise

The government missed its treasury bills (T-bills) target for the third consecutive week as investors continued to favour high-yielding instruments, such as fixed deposits. According...

Finance Ministry interdicts CAGD staff over alleged payroll fraud

The Ministry of Finance has interdicted a staff member of the Controller and Accountant General’s Department (CAGD) over allegations of payroll fraud. The officer is...

BoG scales back size, frequency of dollar intervention

The Bank of Ghana(BoG) has scaled back its size and frequency of foreign exchange intervention in the forex market. The Central Bank, during the second...

Bank of Ghana scales back forex interventions amid cedi appreciation

The Bank of Ghana has scaled back both the size and frequency of its foreign exchange interventions in the forex market. During the second quarter...

Cedi’s sharp recovery hit 30% of our revenues, but we’ll bounce back – GRA boss

The recent sharp appreciation of the cedi has dealt a significant blow to government revenues, the Commissioner-General of the Ghana Revenue Authority (GRA), Anthony...

BoG’s FX directive defies IMF and World Bank advice

On August 20, 2025, the Bank of Ghana (BoG) issued a new foreign exchange directive: banks may not give corporates cash withdrawals in foreign...

We are committed to supporting the Business Community – BoG Governor assures

Governor of the Bank of Ghana, Dr. Johnson Asiama, has given firm assurance that the Central Bank remains committed to supporting the business community...

BoG directs banks to halt foreign currency payments to large corporates without deposits

The Bank of Ghana (BoG) has directed commercial banks, with immediate effect, to halt the payment of foreign currency cash to large corporates if...

Six banks will merge or be acquired by well-capitalised banks – Fitch

Fitch Ratings estimates that six banks operating in Ghana are unlikely to achieve capital compliance through internal capital generation alone. Therefore, they will need to...

Gov’t raises GH¢2.728bn in undersubscribed treasury bills auction

The government mobilized a total of GH¢2.728 billion in the last treasury bills auction, falling short of its GH¢4.24 billion target, a report by...

Ghana’s poor score in ‘B-READY’ impedes private sector investments – World Bank

Ghana’s poor score in the World Bank’s B-READY categories signals challenges to creating an enabling environment that encourages private sector investment, the World Bank...