Finance

Ghana seeks $2.5bn in external financing through debt restructuring

The Chief Executive Officer (CEO) of the Ghana Investment Promotion Center (GIPC), Yofi Grant, has revealed that Ghana is set to undergo external debt...

Group calls for scrapping of Covid- 19 tax and others ahead of Mid-Year budget review

President for the Ghana National Chamber of Commerce and Industry, Clement Osei Amoako, has appealed to government to scrap the Covid-19 tax, Excise duty,...

Ghana’s economy will only recover post-Akufo-Addo govt – Haruna Iddrisu

Former Minority Leader, Haruna Iddrisu, says, the ailing Ghanaian economy will only recover after the Akufo-Addo-led government has left office, insisting the mismanagement of...

$3bn IMF deal: Let’s brace ourselves for the needed reforms – Finance Minister

Minister of Finance, Ken Ofori-Atta, has reiterated that securing the International Monetary Fund (IMF) programme is not an end to Ghana’s current challenges. He said...

Ghana’s economy showing signs of stabilisation – IMF

The International Monetary Fund (IMF) staff team, led by Stéphane Roudet, has acknowledged that Ghana’s economy is bouncing back barely a month after the...

Egyapa Mercer blames NDC for huge energy sector debt

Deputy Energy Minister Andrew Egyapa Mercer has accused the National Democratic Congress (NDC) of being responsible for costly Power Purchasing Agreements (PPAs) that have...

Approval of Ghana’s IMF programme in 10 months is a record – Akufo-Addo

President Nana Addo Dankwa Akufo-Addo has stated that Ghana’s International Monetary Fund (IMF) bailout prorgramme which took 10 months to be completed is one...

Newmont pays over GHS 800 million as Q1 taxes to Gov’t of Ghana

Newmont Africa has announced that in the first quarter of 2023, its Ghana operations (Ahafo South and Akyem mines) paid a total of GHS...

BoG receives first tranche of IMF cash

The first tranche of the $3 billion International Monetary Fund Extended Credit Facility (ECF) has been credited to the Bank of Ghana’s account. Joy Business...

IMF to publish details of Ghana’s programme after possible Board approval

The Minister of State at the Finance Ministry, Dr Mohammed Amin Adam, has announced that the International Monetary Fund (IMF) will publish full details...

Ghana to receive first tranche of IMF cash by Friday

The first tranche of International Monetary Fund (IMF) cash to support the country’s balance of payment is expected to hit the Bank of Ghana’s...

Ghana secures Paris Club financing assurance for 3bn IMF bailout

China and the Paris Club have agreed to provide the debt assurances required to aid Ghana’s request for a balance of payment support from...

IMF deal: We intend to take investor community across Jordan – Ofori-Atta

Finance Minister, Ken Ofori-Atta, says the government is committed to ensuring that the country and the investor community will be able to sail through...

Finance Minister requests participation of pension funds in new proposed offer

The Finance Minister, Ken Ofori-Atta has urged the Board of Trustees of pensions funds to allow for pension funds to be included in government’s...

Traders Advocacy Group reacts to new taxes

President of Traders Advocacy Group Ghana (TAGG), David Kwadwo Amoateng has expressed his displeasure about the passage of the three new taxes. He explained that,...

GUTA reacts to Parliament’s passage of new taxes

President of the Ghana Union of Traders Association (GUTA), Dr. Joseph Kweku Obeng has described the passage of the three new taxes by Parliament...

DDEP: Ofori-Atta claims to have exempted pensioner bondholders but they are yet to get any notification

Finance Minister, Ken Ofori-Atta, says his outfit has written to the Pensioners Bondholders Forum about their exemption from the Domestic Debt Exchange Programme (DDEP). This...

Ghana ranked first in West Africa Digital Competitiveness Index 2022

Digital Foundation Africa, a pan-African think tank focused on unlocking and shaping the continent’s digital future through research, policy and skill development and advocacy...

MoMo transaction: Good news for Vodafone cash customers

A new directive by the Bank of Ghana (BoG) has introduced new mobile money transaction and wallet limits. Customers with daily transaction limits of ¢1,000,...

1% E-levy implementation starts today

The implementation of the revised Electronic Transfer levy (E-Levy) rate of 1% kicks off today, Wednesday, January 11. The Ghana Chamber of Telecommunications has announced...

Life coach shares some tips for a successful New Year

As individuals, we enter every New Year with different goals, positive mindsets or just hope the year brings good luck, progress and success in...

Fitch to downgrade Ghana to very deeper junk status; Ghana’s Issuer Default Rating now ‘C’

Rating agency, Fitch, has given an indication of a further downgrade of Ghana’s credit rating to very deeper junk status. This is coming after it...

E-levy rate reviewed to 1%; GH¢100 daily threshold maintained

The Minority in Parliament has succeeded in ensuring that government maintains the GH¢100 Mobile Money threshold. Parliament also approved the reduction of the Electronic Transfer...

Victory at last: Pension Funds exempted from Debt Exchange Programme

Government has announced an exemption of all pension funds from the Debt Exchange Programme. This follows a meeting between Organised Labour, Ministry of Employment and...

Finance Minister calls for stakeholder support to sustain cedi rebound

Ken Ofori-Atta has called on all stakeholders, including parliament, to work collectively and support government to sustain the recent gains of the Cedi against...

BoG give reasons for cedi’s stability against US dollar

The Bank of Ghana (BoG) has attributed the cedis’ recent gains to new set of monetary measures instituted by the central bank. According to the...

Full text: Ken Ofori-Atta’s speech on Staff Level Agreement (SLA) for an IMF-supported programme

Appreciation I will like to first of all thank the almighty God for providing the needed guidance to the GoG and the Fund to get...

Moody’s downgrades Ghana to further junk status, warns investors could lose in debt restructuring

Moody’s has downgraded the Government of Ghana’s long-term issuer ratings to Ca from Caa2 or further junk status and changed the outlook to stable. This...

2023 Budget: Check out implementation of Cabinet directives on expenditure measures

Mr Speaker, as a first step towards expenditure rationalisation, Government has approved the following directives which takes effect from January, 2023: • All MDAs, MMDAs...

Nigeria’s govt unveils new Naira notes [Photos]

President Muhammadu Buhari on Wednesday finally unveiled the re-designed Naira Notes as proposed by the Central Bank of Nigeria (CBN). The CBN Governor, Godwin Emefiele,...

2023 Budget: VAT rate up by 2.5%

Government has reviewed upwards the Value Added Tax (VAT) by 2.5 percent. This means Ghanaians will from 2023 pay more for goods and services. This was...

SIM Card registration: Telcos start blocking subscribers in phases

Telecommunications companies (Telcos) in the country have begun blocking SIM cards of mobile subscribers yet to register their SIM cards. The exercise is in compliance...

Cedi depreciates after recent gains; $1 equals ¢14.20

After ending last week with a marginal appreciation, the Ghana cedi has returned to a depreciation trajectory. The cedi opened this morning November 7, 2022,...

ECOWAS Bank raises authorised capital to $3.5bn

The Board of Governors of the ECOWAS Bank for Investment and Development (EBID) has unanimously increased the Bank’s authorised capital from $1.5 billion to...

Imperial General Assurance commissions new head office at Labone

Leading general business insurance company, Imperial General Assurance, has made an enormous investment into improving the infrastructural buildout of the company. After nine years in...

NTHC under pressure: Workers of GOIL threaten legal action for GH¢30m

Customers, including many state-owned organisations, have started piling pressure on the National Trust Holding Company (NTHC) for their investments running into several millions of...

Aker Energy halts Ghana oilfield devt over involvement of Russian firm

Norway's Aker Energy has put on hold its Pecan oilfield development in Ghana amid concern the project could face sanctions over the war in...

Students Loan Trust Fund opens two new regional offices

The Students Loan Trust Fund (SLTF), has opened two new offices in Accra and Kumasi, which are expected to focus solely on the recovery...

Countries with cheapest mobile data: Where does Ghana rank?

Ghana has made it onto the list of countries with the cheapest mobile data in the world. This conclusion came from a survey conducted by The...

Govt slashes E-Levy target for 2022 to ¢611m

Government has reviewed its revenue target for the controversial Electronic Transaction Levy (E-Levy) to ¢611 million, from about ¢4.9 billion. Finance Minister, Ken Ofori-Atta, disclosed...