Banking

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,...

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...