Banking

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...

Chamber of Autodata Ghana calls for greater local content in Automotive components development policy 

The Chamber of Autodata Ghana has urged government to incorporate more local content into the soon-to-be-finalised Ghana Automotive Components Development Policy, which is expected...

Wilful loan defaulters face 5-year credit ban under new BoG rules

Wilful loan defaulters could soon face a five-year ban from accessing credit from any regulated financial institution in Ghana. The new Bank of Ghana (BoG)...

BoG postpone launch of cedi’s 60th Anniversary after helicopter crash

The Bank of Ghana (BoG) has announced that it has postponed the National launch of the cedi’s 60th Anniversary programme on Friday, August 8. According...

Lending rates to fall from August 6, 2025 – Ghana Association of Banks CEO

The Chief Executive of the Ghana Association of Banks (GAB), John Awuah, is projecting a reduction in interest rates on loans from August 6,...

The era of high interest rates cannot be sustained – BoG Governor warns banks

The Bank of Ghana Governor, Dr. Johnson Asiama, has advised commercial banks that to review their business models to ensure that their operations are...

4 out of 6 members of BoG Monetary Policy Committee voted for a 300 basis points rate cut

Four out of six members of the Monetary Policy Committee of the Bank of Ghana (BoG) have voted for a 3.0% rate cut. This was...

Gov’t raises GH¢5.49bn from Treasury Bills in well-subscribed auction

Government has successfully raised GH¢5.49 billion from its latest Treasury bill auction held on Friday, August 1, 2025, according to results released by the...

Restoring UniBank licence won’t be wrong – Prof. Mensah

A professor of Financial Economics at the University of Ghana Business School, Prof. Laud Mensah, says there is now a credible path to restoring...

June MoMo transactions reach GH¢323bn despite slight decline

The total value of mobile money (MoMo) transactions in Ghana stood at GH¢323.2 billion in June 2025, reflecting a 10.2% decline from the GH¢360...

Banking principles were ignored – Prof Lord Mensah faults handling of UniBank collapse

A Professor of Financial Economics at the University of Ghana Business School has questioned the collapse of UniBank, saying the fundamental principles of banking...

Monetary Policy Committee of BoG cuts policy rate sharply to 25%

The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has significantly reduced the policy rate to 25 percent from 28 percent. The chairman...

Bank of Ghana tightens rules on remittances amid compliance failures

The Bank of Ghana (BoG) has announced stricter measures against Banks, Dedicated Electronic Money Issuers (DEMIs), Enhanced Payment Service Providers (EPSPs), and Money Transfer...

NPP deserves some credit for the current cedi stability – Joe Jackson

Chief Executive Officer of Dalex Finance, Joe Jackson, says the opposition New Patriotic Party (NPP) deserves some credit for the recent stability of the...

Cedi appreciates by 40.7% to US dollar in seven months of 2025 – BoG

The Ghana cedi appreciated by 40.7% against the US dollar in the first seven months of 2025. According to the Bank of Ghana’s July 2025...

Ghana records $5.57bn trade surplus in first-half of 2025

Ghana records trade surplus of Ghana recorded a trade surplus of US$5.57 billion in the first six months of 2025. This is 307.4% growth over...

Ghana’s public debt stock falls to GH¢613bn in June 2025

Ghana’s public debt stock fell by GH¢156.4 billion between March and June 2025 to GH¢613 billion in June 2025. This is approximately 43.8% of Gross...

Amin Adam accuses BoG of printing money to pre-finance GoldBod

Former Finance Minister Dr. Mohammed Amin Adam has alleged that the Bank of Ghana (BoG) is pre-financing the operations of the Ghana Gold Board...

‘Cedi no apicki, but Abochi get the dollar’ – Minority tells gov’t 

  The Minority in Parliament has challenged claims made by the Finance Minister, Dr. Cassiel Ato Forson, in the mid-year budget review about Ghana’s foreign...

AG only recovered only 10.6% of Unibank’s liability not 60% – Bright Simons

Honorary Vice-President of IMANI Africa, Bright Simons, has challenged the Attorney General’s assertion that the state has recovered 60% of Unibank’s liabilities, insisting the...

Minority threatens legal action over discontinuation of UniBank case

The Minority Caucus in Parliament has warned that it may take legal action if the Attorney-General and Minister for Justice, Dr. Dominic Ayine, does...

Decisions taken must support ongoing economic recovery – Dr. Asiama tells MPC members

The Governor of the Bank of Ghana (BoG) Dr. Johnson Asiama has charged members of the Monetary Policy Committee (MPC) to ensure that their...

High Court dismisses application to strike out suit against former BoG Governor

An application seeking to strike out the suit in which a retiree has sued the former Bank of Ghana (BoG) governor, Dr. Ernest Addison,...

Gold for Oil: BoG confirms GH¢2.14 billion loss but highlights gains  

The Bank of Ghana (BoG) has revealed that the now-discontinued Gold for Oil (G4O) Programme resulted in a total financial loss of GH¢2.14 billion. This...