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Govt to borrow ¢38.959bn via treasury bills

Government will borrow a whopping ¢38.959 billion via treasury bills for the third quarter of 2023. According to its issuance calendar released by the Ministry...

Majority Leader justifies 10% withholding tax on betting, lottery winnings

The Majority Leader in Parliament, Osei Kyei-Mensah-Bonsu, has justified the Ghana Revenue Authority’s 10% withholding tax on all gross gaming winnings scheduled to commence...

IMF clarifies Bank of Ghana’s GH¢60 billion loss

The International Monetary Fund (IMF) has addressed the concerns surrounding the Bank of Ghana's (BoG) GH¢60 billion loss incurred during the 2022 fiscal year,...

Tame inflation, GH¢60bn loss not excuse to shirk policy mandates – IMF tells BoG

The International Monetary Fund (IMF) has cautioned the Bank of Ghana, highlighting the importance of upholding its policy mandates despite the financial setback experienced...

E-Levy misses target by GH¢527.27 million – 2 Economists advocate replacement

The electronic transfer levy (E-Levy) accrued GH¢455.58 million for the first half of this year, missing its target by 53.64 per cent. This is against...

Why BoG is constructing new Head Office building as most important priority project

The Bank of Ghana has reacted to the Minority group in Parliament on the Bank’s 2022 published Annual Report and Financial Statements Background to large...

Tullow Oil’s P/E ratio of 41 signals investor confidence in higher income growth

With a trailing price-earning ratio (P/E ratio) of 41, Tullow Oil equity is highly valued by investors as a company that has the capability...

High T-bill yields to taper over next 18 months; inverted yield curve to persist in medium-term

High interest rates (yields) on the 91 day, 182 day and 364 day Treasury Bills are expected to taper (reduce) as they mimic the...

Why you should buy BOPP shares on the GSE

Ghanaian oil palm plantation and company, the Benso Oil Palm Plantation (BOPP), has performed tremendously well on the Ghana Stock Exchange (GSE) since the...

Our current building not fit for purpose – BoG justifies $250m new project

The Bank of Ghana (BoG) has disputed assertions by the National Democratic Congress (NDC) that the construction of its new $250 million headquarters is...

Good news for Ghanaian tailors, seamstresses

In the coming days, the Youth Employment Agency (YEA) will support over 500 tailors and seamstresses in the country with GHC10,000. According to the Chief...

GNCCI pledges to work with Multimedia Group Limited to drive economic development

The Ghana National Chamber of Commerce and Industry (GNCCI) has pledged its commitment to deepen collaboration with Multimedia Group Limited to help in articulating...

NPP would’ve equally called for BoG Governor’s head – Minister

A Deputy Minister of Trades and Industry, Dr Stephen Amoah, says the Minority’s demand of the Central Bank’s Governor to resign in 21 days...

BoG replies NDC on bankruptcy claims

The Bank of Ghana (BoG) has said it cannot be insolvent or bankrupt, as claimed by the National Democratic Congress (NDC). This comes barely 24...

Lottery wins attract 10% tax – Takes effect August 15

Wins from lottery games, casinos and marketing promotional raffles will now attract a 10 per cent tax with effect from August 15, 2023. This means...

Ofori-Atta justifies “turned the corner” remark

The Finance Minister, Ken Ofori-Atta, has justified the comment he made during the presentation of the 2023 mid-year budget review to the effect that...

Govt extends deadline of domestic dollar bonds to August 18

Government has extended the deadline for the domestic dollar bonds to Friday, August 18, 2023. The bonds were originally scheduled to end on August 4,...

Economist backs NDC’s call for resignation of BoG governor

Economist and lecturer at the University of Ghana Business School (UGBS), Professor Godfred Bokpin, has assented to the National Democratic Congress' (NDC) call for...

Ghana ranked among 10 countries globally with highest food inflation

Ghana has been ranked among 10 countries in the world with the highest food inflation. According to a Food Security Report by the World Bank,...

Govt officials have lost hope in banking sector – MP on Cecilia Dapaah saga

Member of Parliament (MP) for the Asunafo South, Eric Opoku, has said the recent theft of substantial foreign and local currencies from former Sanitation...

Govt led BoG into a deep ditch – MP

Member of Parliament (MP) for the Asunafo South Constituency, Eric Opoku, has supported NDC's call for the resignation of Bank of Ghana governor, Dr...

Inflation rises for the third consecutive month

Year-on-year inflation shot up marginally to 43.1% in July 2023, from 42.2% recorded in June 2023. According to figures from the Ghana Statistical Service, the...

GRA to implement 10% withholding tax on betting, lottery winnings from August 15

The Ghana Revenue Authority (GRA) has announced that it will begin implementing a 10% withholding tax on all gross gaming winnings from August 15,...

Cedi to remain stable this week

The Ghana cedi will remain stable this week against the US dollar and other major foreign currencies, although improved US labour data may pose...

Six policemen injured in clash with tricycle operators in Kumasi

Six police officers have sustained injuries following a clash with tricycle operators at the premises of the Kumasi Metropolitan Assembly (KMA). The incident occurred on...

Multilateral debts, others pose downside risk to Ghana’s foreign exchange reserves – Report

Research firm, IC Research, is warning that the lingering debt settlements of government such as SWAPs and multilateral debts pose downside risk to the...

We are working to recover ¢60bn loss – BoG

The Bank of Ghana (BoG) has stated that it is working to recover the ¢60 billion loss it incurred in 2022 as a result...

Ghana Link’s Clyde Adjei picks Transformational Deputy MD Award

Deputy Managing Director of trade facilitation company, Ghana Link Network Services, Clyde Panyin Adjei, has been recognised as the most transformational Deputy Managing Director...

GPHA defends port tariff adjustments

The Ghana Ports and Harbours Authority (GPHA) has defended the recent port tariff adjustment. In a reaction to concerns raised by the Ghana Union of...

GUTA opposes GPHA’s latest increase in port charges

The Ghana Union of Traders Association (GUTA), is opposing the latest increase in port charges by the Ghana Ports and Habours Authority (GPHA) barely...

Performance of banks in half-year looks promising, banking industry remains strong – Governor

During the 70th Anniversary Celebrations of GCB Bank, Dr. Ernest Addison, the Governor of the Bank of Ghana, expressed optimism about the performance of...

ECG records ¢1.9bn loss in 2021 – Auditor General Report

The Electricity Company of Ghana (ECG) faced a significant financial setback in 2021, reporting a loss of ¢1.913 billion compared to a profit of...

BoG can’t take shelter from issues of other central banks – Economist

Professor John Gatsi, the Dean of the Business School at the University of Cape Coast (UCC), has criticized the Bank of Ghana (BoG), stating...

7 tricycle operators arrested in Kumasi amidst ban

The Kumasi Metropolitan Assembly (KMA) has said it will continue to ensure the enforcement of the ban on the use of tricycles in the...

Huge losses under debt exchange have significantly weakened banking sector’s capitalisation – Fitch

Rating agency, Fitch, has warned that the large losses imposed on bondholders under the Domestic Debt Exchange Programme (DDEP) have significantly weakened the banking...

VAT structure does not ensure compliance  – GUTA

President of the Ghana Union of Traders Association (GUTA), Dr Joseph Obeng, has stated that his expectations were not met during Finance Minister, Ken...

Fitch downgrades US credit rating from AAA to AA+

The US government’s credit rating has been downgraded following concerns over the state of the country’s finances and its debt burden. Fitch, one of three...

Farmers at Nkwanta South plead for tractors and other farming machinery

A group of female farmers at Nkwanta South of the Oti Region have appealed to government and other agencies to support them with farming...

Tricycle operators block major road leading to Kejetia over KMA ban

Tricycle operators in the Ashanti Region have escalated their protest against a directive to restrict their movement in parts of the Central Business District...

Gh¢21bn cut in 2023 budget commendable – Oppong Nkrumah

Minister for Information, Kojo Oppong Nkrumah, has said the GHS 21bn reduction in the government’s appropriation for the 2023 fiscal year is commendable. Contributing to...