HomeBusinessBusiness

Business

World Bank warns Ghana of funding cuts over Anti-LGBTQI+ Bill

The World Bank is threatening to cancel loans earmarked in Ghana over the passing of the controversial Anti-LGBTQI+ Bill, known formally as the Human...

‘Dumsor’ cannot be attributed to maintenance work – Justice Yaotse

Policy Lead of Petroleum and Conventional Energy, Justice Yaotse is challenging claims by the Managing Director of the Electricity Company of Ghana (ECG), Samuel...

Petrol, diesel, LPG prices to go up marginally – IES

Barring any intervention, consumers should expect further marginal increases in the price of petrol, diesel and Liquefied Petroleum Gas (LPG) in the coming days,...

Interest rate reduction should be linked to improved economy – John Awuah

The Chief Executive of the Ghana Association of Banks (GAB), John Awuah, has said that there must a direct link between reduction in interest...

1,450 gallons of illicit oil confiscated at CMB

The Anti-Smuggling Task Force on Wednesday February 28, 2024 continued their swoop on illicit vegetable oil imports, confiscating 1,450 gallons without proper documentation. Importers...

Cedi crosses $13 mark

The Ghana cedi crossed the $13 mark as the depreciation of the local currency continued on February 28, 2024. Most forex bureaus according to checks...

BoG’s 1% rate cut is a big joke – Togbe Afede XIV

The Bank of Ghana Monetary Policy Committee (MPC) on Monday, January 29, 2024 announced a cut in the key policy rate of 100 basis points,...

Over 10,000 gallons of smuggled cooking oil seized [Photos]

A joint task force led by the Tree Crop Development Authority has begun sanitising markets by seizing smuggled cooking oil. On Tuesday, February...

See the list of companies that were paid judgement debts by gov’t between 2017-2022

Between 2017 and 2022, the government disbursed a total of GH¢300,385,317.52 in judgement debt. This is according to information released by the Ministry of Finance...

See the new Momo balance & transaction limits effective March 1

The Bank of Ghana (BoG) has recently announced an upward adjustment of balance and transaction limits for customers' mobile money wallets, scheduled to take...

We are no longer going to celebrate GDP growth – Prof Bokpin

A Professor of Finance at the University of Ghana Business School, Godfred Bokpin, has challenged the conventional celebration of Gross Domestic Product (GDP) growth. According to...

Cedi inches closer to GH¢13 to a dollar as depreciation continues unabated

The Ghana cedi is inching closer to GH¢13.00 to one US dollar barely two months into 2024 as the depreciation of the local currency...

Ghana to prohibit export of bauxite in raw state – Prez Akufo-Addo

The government will soon present a Legislative Instrument before Parliament to prohibit the export of bauxite in its raw state, President Akufo-Addo announced. This move...

SONA 2024: GH¢5.8bn paid to bondholders – Akufo-Addo

President Nana Addo Dankwa Akufo-Addo has revealed that the government has fulfilled its financial pledges by clearing the final coupons owed to domestic bondholders. In...

SONA 2024: Good news for cocoa farmers

President Akufo-Addo has reaffirmed his commitment to supporting cocoa farmers in the upcoming season. During his State of the Nation address on Tuesday, February...

Cedi depreciates 4.44% to dollar since January 1, 2024

The Ghana cedi has lost about 4.44% in value to the US dollar since the beginning of the year. Last week, the local currency weakened...

SML doing world-class monitoring for Ghana; ignore the propaganda – Atta Akyea to Ghanaians

Chairman of Parliament's Mines and Energy Committee, Samuel Atta Akyea has rejected allegations suggesting that Ghanaians were cheated in the GRA-SML contract, labeling them...

COPEC, IES demand transparency from NPA regarding sanctions on Sentuo Oil Refinery

The Institute for Energy Security (IES) and the Chamber of Petroleum Consumers (COPEC) have urged the National Petroleum Authority (NPA) to disclose the sanctions...

T-bills auction: Interest rates fall for 8th week running; government raises GH¢6.26bn

Interest rates eased for the 8th week running on the treasury market but marginally. Indeed, the yields on the treasury bills continued to ease in line...

Ghana has the cleanest fuel in the sub-region – NPA Boss

The Chief Executive of the National Petroleum Authority (NPA), Dr. Mustapha Abdul-Hamid, says Ghana’s fuel specifications, which are set at Sulphur content of 50...

Bono Region: Close to 900,000 metric tonnes of cashew go waste

Madam Justina Owusu-Banahene, the Bono Regional Minister, has appealed to Ghana’s development partners to assist in adding value to cashew fruits and nuts for...

Tyler Perry halts $800m studio expansion after being shocked by AI video generator

Tyler Perry has paused an $800m (£630m) expansion of his Atlanta studio complex after the release of OpenAI’s video generator Sora and warned that...

Ghana’s inflation rate almost 3 times that of Ivory Coast, Togo, and Burkina Faso combined

Ghana continues to grapple with price hikes as the year-on-year inflation rate for January 2024 sees a marginal rise. It hits 23.5%, making it one...

It’s incorrect to say we’re playing soft with Sentuo Oil Refinery – NPA replies IES, COPEC

The National Petroleum Authority (NPA) has described as incorrect statements by the Institute of Energy Security (IES) and the Chamber for Petroleum Consumers (COPEC)...

KPMG to submit its audit report of GRA/SML contract today

KPMG is set to deliver its audit findings on the transaction involving the Ghana Revenue Authority (GRA) and Strategic Mobilisation Ghana Ltd (SML) to...

Onion Sellers Association allays fears of price hikes

The Onion Sellers Association of Ghana has allayed concerns about a rise in onion prices because of Niger’s withdrawal from the Economic Community of...

Sub-standard fuel: NPA suspends license of Sentuo Oil Refinery for sale of inferior products

The National Petroleum Authority (NPA) has suspended the approval given to Chinese company, Sentuo Oil Refinery to sell some finished petroleum products on the...

COCOBOD’s ¢2 billion loss in 2021 attributed to price decline on international market

The Chief Executive Officer of the Ghana Cocoa Board (COCOBOD), Joseph Boahen Aidoo, says the GH¢2 billion loss to the Board in 2021 was...

Govt generated GH¢1.19 billion from E-levy in 2023 – John Kumah

The Deputy Minister of Finance, Dr. John Kumah, has revealed that government got GH¢1.19 billion in revenue from the E-levy in 2023. Addressing concerns over...

BoG, DBG sign MoU to commission study on “Innovative Financing for MSMEs in Ghana”

The Bank of Ghana has signed a Memorandum of Understanding (MoU) with the Development Bank Ghana (DBG) to commission a study on “Innovative Financing...

SML contract shoots GRA’s revenue in petroleum downstream to over GH¢12bn

Details emerging from the contract between Strategic Mobilisation Ghana Limited (SML) and the Ghana Revenue Authority (GRA) have revealed positive outcomes for the country's...

COPEC and IES demand shut down of Sentuo Refinery, probe by OSP

The Chamber of Petroleum Consumers (COPEC) and the Institute for Energy Security (IES) have called on the National Petroleum Authority (NPA) as a matter...

Average unemployment rate in Ghana in 3 quarters of 2023 estimated at 14.7%

The average unemployment rate in Ghana for the first three quarters of 2023 was estimated at 14.7%, with the rate among females consistently higher...

9 in 10 working Ghanaians dissatisfied with their financial situation – Old Mutual 2023 Report

A recent study conducted by Old Mutual has revealed a concerning trend in Ghana's financial landscape: a significant portion of working Ghanaians are not...

COCOBOD loses over 150 thousand metric tonnes of cocoa to smuggling

Ghana Cocoa Board has revealed to Parliament’s Public Accounts Committee that the company has lost over 150 thousand metric tonnes of cocoa beans to...

Cedi loses 3.66% to dollar since January 1; one dollar equals GH¢12.75

The Ghana cedi has lost about 3.66% in value to the US dollar since the beginning of 2024. The local currency lost ground last week...

We will be in a dire situation if we fail to meet some tax obligations – Dr. Amin Adam

Finance Minister Dr. Mohammed Amin Adam has revealed that Ghana would be in a dire situation if it fails to meet some tax obligations...

Let’s work together to achieve 2024 revenue target – Amin Adam charges GRA

The newly appointed Finance Minister, Dr Mohammed Amin Adam, has urged the Ghana Revenue Authority (GRA) to put in place a strategic roadmap to...

Ghana to expand cocoa rehabilitation with $200m World Bank loan

Ghana’s COCOBOD will use part of a $200 million World Bank loan to rehabilitate plantations destroyed by the cocoa swollen shoot virus, which causes...

I engaged in prudent financial management as Finance Minister – Ofori-Atta insists

Former Finance Minister, Ken Ofori-Atta says he committed himself to the prudent management of the strategic resource allocated to him during his tenure in...