Banking

Gov’t to spend $1.4bn in 2025 on Eurobond debt servicing

The government has announced plans to spend US$1.4 billion next year on servicing debt owed to Eurobond holders. This was disclosed in a statement issued...

Banking sector clean-up: Ex-NPP Youth Organiser refutes Frank Adu’s claims, says sector stronger than ever

A former Suame Youth Organiser for the New Patriotic Party (NPP) has publicly refuted assertions made by ex-Cal Bank Managing Director Frank Adu, accusing...

BoG reserve assets jump by $709m in April, boosting cedi stability

The Bank of Ghana’s reserve assets saw a significant improvement, rising from US$391.1 million in April 2024 to US$1.1 billion in April 2025, largely...

I lost money, I won’t forgive Ofori-Atta and Akufo-Addo – Former CAL Bank CEO

Former Cal Bank CEO Frank Adu Jnr has declared that he will never forgive former Finance Minister Ken Ofori-Atta and former President Nana Akufo-Addo...

We slept in the same bed, but Ofori-Atta’s legacy betrayed our hope – Frank Adu Jnr

Former Cal Bank CEO, Frank Adu Jnr, has delivered a damning verdict on the tenure of former Finance Minister Ken Ofori-Atta, describing it as...

I was forced out, but I hold no grudge – Frank Adu Jnr opens up on Cal Bank exit

Former Cal Bank CEO Frank Adu Jnr has revealed that he was forced into early retirement by the Bank of Ghana, but says he...

Frank Adu Jnr warns Mahama against loyalty-over-performance culture

Former CEO of Cal Bank, Frank Adu Jnr, has cautioned President John Mahama to ensure that political appointees in his administration deliver on their...

Banks wrote-off GH¢654.2m as bad debt in first four months of 2025

Banks in Ghana wrote off GH¢654.2 million as bad debt in the first four months of 2025. According to the Domestic Money Bank Report by...

World Bank backs Ghana with $360m to strengthen macroeconomic stability

The World Bank has approved a $360 million financing package to support Ghana’s economic rebound, a move that signals renewed confidence in the country’s...

Afreximbank appoints Dr George Elombi as next president

The shareholders of the African Export-Import Bank (Afreximbank) have appointed Dr. George Elombi as the next President and Chairman of the Board of Directors...

Akufo-Addo pushes for 30% sovereign reserves in African banks

Former President Nana Akufo-Addo has proposed that African countries deposit 30 per cent of their sovereign reserves with multilateral institutions on the continent. The proposal,...

Recalled BoG staff to be put on extended probation

The Bank of Ghana (BoG) has placed all recently recalled staff—whose appointments were earlier terminated—on an extended probation, sources have told JoyBusiness. The recall marks...

Ghana chairs Afreximbank Annual Meetings in Abuja

Deputy Finance Minister Thomas Nyarko Ampem is chairing this year’s Afreximbank Annual Meetings, which include key sessions involving the Bank’s shareholders. One of the major...

BoG dismissals not political – Dr Kwapong to minority

CDD-Ghana Fellow and Director for the Democracy Project, Dr. John Osae Kwapong, has urged the Minority in Parliament to refrain from conflating the recent...

Minority demands immediate reinstatement of dismissed BoG staff

The Minority in Parliament is demanding the immediate reinstatement of over 100 Bank of Ghana (BoG) employees who have been dismissed. In a statement, the...

BoG acted within labour law in terminating recruits – Austin Gamey

Renowned human resource consultant, Austin Gamey, says the Bank of Ghana (BoG) acted within the confines of labour laws in terminating the appointments of...

Gov’t misses Treasury Bill target for 4th straight week

The government has failed to meet its treasury bill target for the fourth consecutive week, falling short by about 24%, according to auction results...

Fitch warns Ghana rating at risk if local bond market remains shut

Fitch Ratings has outlined key risks that could lead to a downgrade of Ghana’s credit rating, despite recently upgrading the country’s Long-Term Foreign-Currency Issuer...

Fitch upgrade: We’re not rushing to re-enter external markets – Sharif Mahmud Khalid

The government is not rushing to re-enter external markets despite a recent credit rating upgrade, as its current priority is stabilising the local economy,...

CUTS urges BoG to rein in banks over unfair ATM charges

CUTS International Accra, a research and policy think tank, is calling on the Bank of Ghana (BoG) to address the growing burden of excessive...

Mahama attributes Ghana’s Fitch upgrade to prudent economic management

President John Mahama has attributed the Fitch Ratings upgrade of Ghana’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘B-minus’ with a stable outlook—from Restricted Default...

BoG expresses commitment to a flexible Exchange Rate regime – Asiama

The Bank of Ghana has reiterated its commitment to a flexible exchange rate system backed by sound economic policies to support business growth. This assurance...

We’re not targeting fixed exchange rate – BoG Governor

The Governor of the Bank of Ghana (BoG), Dr. Johnson Asiama, has strongly maintained that the central bank is not pursuing a rigid exchange...

BoG Governor assures of buffers against external threats

The Governor of the Bank of Ghana (BoG), Dr. Johnson Asiama, has assured that the country has built the necessary buffers to withstand external...

BoG eyes drop in inflation to 12% by year-end – First Deputy Governor

The Bank of Ghana expects inflation to trend downwards in the coming months due to the tight monetary policy measures being implemented. First Deputy Governor...

World Bank predicts worst decade for global growth since 60s

The global economy will see the slowest decade for global growth since the 1960s as the effects of Donald Trump's tariffs are felt, the...

Ecobank boss backs Bank of Ghana’s move for stable cedi

Group Chief Executive of Ecobank, Jeremy Awori, says he supports calls for Bank of Ghana intervention to maintain a fairly stable cedi exchange rate,...

Ghana ranks 9th in Africa with highest outstanding loans to China

Ghana is ranked 9th among African countries with the highest outstanding loans to China, according to data compiled by Boston University’s Global Development Policy...

We will adhere to zero financing of budget – BoG

The Bank of Ghana has promised to adhere to the zero financing of the budget going forward. This follows the signing of a Memorandum between...

Bank of Ghana posts operating loss of GH¢9.49bn in 2024

The Bank of Ghana (BoG) has recorded an operating loss of GH¢9.49 billion for the 2024 financial year, compared to a restated operating loss...

BoG moves to block remittance leakages to stabilise cedi

As part of measures to stabilise the cedi, the Bank of Ghana (BoG) has initiated plans to tighten controls and block all leakages in...

BoG to introduce Digital Lending Guidelines by August 2025

The Bank of Ghana (BoG) has announced plans to introduce comprehensive Digital Lending Guidelines by August 2025 to tackle rising risks associated with online...

My vision is to see lending rates drop below 10% – Governor Asiama

The Governor of the Bank of Ghana (BoG), Dr. Johnson Asiama, has expressed his determination to see lending rates in Ghana fall to less...

BoG signals stronger supervision and incoming crypto regulations

The Bank of Ghana (BoG) has reaffirmed its commitment to supervisory priorities centered on governance, anti-money laundering (AML), cybersecurity, climate risk, and innovation oversight...

BoG targets loan defaulters in new regulatory measures

Commercial banks will now be required to disclose blacklisted willful defaulters in their audited financial statements, along with sectoral breakdowns of non-performing loan (NPL)...

BoG introduces new rules on interest charges, pricing, and bank recapitalisation

The Bank of Ghana (BoG) has introduced new regulatory measures targeting interest charges on digital platforms, pricing on forex (FX) transactions, Non-Performing Loans (NPLs),...

BoG expected to hold policy rate steady – Deloitte

Professional services firm Deloitte has indicated that the Monetary Policy Committee (MPC) of the Bank of Ghana is likely to maintain the status quo...

Past cedi depreciation driven by profit-seekers, not fundamentals – John Awuah

The CEO of the Ghana Association of Banks, John Awuah, has revealed that a significant portion of the cedi’s past depreciation was driven not...

Ghana Cedi’s recent gains may be temporary without deeper reforms – APL explains why

Africa Policy Lens (APL), a Policy Research and Analyst Organisation, has commended Ghana’s recent macroeconomic progress but warned that the appreciation of the cedi...

Reduced public spending the reason for the Cedi’s recent strength – APL argues

Research and Policy Analysts, Africa Policy Lens (APL), have highlighted factors that have accounted for the significant appreciation of the Ghanaian cedi in the...