HomeBusiness

Business

GRA starts property rate collection

The Ghana Revenue Authority (GRA) has announced that it will be sending Technical Support Officers (TSOs) and Client Support Officers (CSOs) to private and...

BoG keeps policy rate unchanged at 29.5%; cost of loans to remain high

The Monetary Policy Committee (MPC) of the Bank of Ghana has kept its policy rate unchanged at 29.5%. It cited a slowdown in inflation as...

Mobile money transactions hit ¢550.4bn in four months of 2023  

Total mobile money transactions for the first four months of 2023 surpassed ¢550 billion, about 66.2% year-on-year growth, data from the Bank of Ghana...

The letter Ken Ofori-Atta and Dr Ernest Addison wrote to the IMF boss for liquidity support

As Ghana receives an IMF Executive Board approval, let’s look at the letter Finance Minister, Kenneth Ofori-Atta and Governor of Bank of Ghana, Dr...

Cedi depreciates 21.7% to dollar in May 2023 – BoG

The Ghana cedi lost about 21.7% in value to the US dollar on the interbank forex market as of May 2023, the Bank of...

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...

Ghana’s debt fell ¢141.1bn to ¢434.6bn in December 2022 – BoG

Ghana’s public debt stock fell by ¢141.1 billion in December 2022 to end the year at ¢434.6 billion, approximately 71.2% of Gross Domestic Product,...

We are engaging Surfline over service outage – NCA

The National Communications Authority (NCA) says it has noted “with grave” concern inquiries by the public regarding Surfline’s operations and service outage. The Authority confirmed...

8 arrested for failing to issue VAT invoice to customers

The Ghana Revenue Authority (GRA) has arrested eight shop caretakers for failing to issue the authority’s VAT invoice to customers. The Compliance Enforcement Unit of...

Be bold about banning rice importation – Jospong CEO urges govt

The Executive Chairman of the Jospong Group of Companies (JGC), Dr. Joseph Siaw Agyepong, has assured Ghanaians that with the advent of the Jospong...

IMF’s first tranche of $600M to hit BoG account today

Governor of the Bank of Ghana (BoG), Ernest Kwamina Yedu Addison, has revealed that the first tranche of $600 million from the International Monetary...

BoG’s goal is to bring inflation to 6-10% target by 2026 – IMF

The Bank of Ghana’s (BoG) monetary policy goal is to bring inflation to 6-10% target by the end of the International Monetary Fund (IMF)...

Two arrested by GRA for cash invoice default

Two persons have been picked by the Tax Compliance Unit of the Ghana Revenue Authority for failing to issue Ghana Revenue Authority’s (GRA) cash...

Sinapi Aba Savings and Loans wins innovation hero award

Temenos has announced its 2023 Client Awards Winners at the Temenos Community Forum (TCF) in Vienna, celebrating the global pioneers, innovators, and visionaries in...

This is what the IMF said after approving Ghana’s $3bn bailout request

The International Monetary Fund (IMF) has approved Ghana's $3 billion bailout request to revive its struggling economy. The decision was made by the IMF's...

Ghana cedi becomes world’s best-performing currency; this is why

Ghana's currency, the cedi, has emerged as the top-performing currency against the US dollar in the past six months, bolstered by investor optimism that...

Govt exhibits commitment to improve governance, transparency under Fund -supported programme – IMF

The International Monetary Fund (IMF) says the Ghana government has exhibited commitment to improve governance and transparency under the Fund-supported programme. For example, it said...

Cedi to record further gains against dollar – Forex Bureau Association

The Forex Bureau Association of Ghana is predicting further gains by the cedi in the coming days, following a financing assurance secured from Ghana’s...

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...

GRA chases 93 businesses for not issuing VAT invoices

The Enforcement Unit of the Ghana Revenue Authority (GRA) says it is set to prosecute some 93 shops and business owners for failing to...

Cedi to record gains against dollar as expected IMF deal impacts market

The Ghana cedi is expected to record gains against the dollar and other major foreign currencies this week, as the progress of the International...

Fuel prices to fall again

Prices of petrol, diesel and Liquefied Petroleum Gas (LPG) are expected to fall marginally again at the pumps from tomorrow, May 16, 2023, for...

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...

GIADEC will ensure value-addition to bauxite to prevent raw exports – President Akufo-Addo

President of the Republic, Nana Addo Dankwa Akufo-Addo, has stated that the Ghana Integrated Aluminium Development Corporation (GIADEC), has strategically been established by government...

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...

Court ‘throws out’ Ato Essien’s motion to renegotiate GH¢60million payment 

The High Court in Accra has rejected an attempt by the founder of the defunct Capital Bank, William Ato Essien, to renegotiate a GH¢60...

About 1.9m out of 10 million workers are covered under SSNIT scheme – SSNIT Boss

Only about 1.9 million of the 10 million workers in the country are covered under the Social Security and National Insurance (SSNIT) Scheme. According...

Inflation falls to 41.2% in April 2023

Year-on-year inflation fell for the 4th month running to 41.2% in April 2023, from 45% in March 2023, extending the disinflation process since January 2023. According...

BoG to continue with policy rate hikes to fast track inflation decline

The Bank of Ghana (BoG) has indicated that it may hike again the monetary policy rate to help bring inflation rate down faster. The central...

Baking a healthier future: “Soy Flour for bread and more” campaign returns to Ghana

The American Soybean Association's World Initiative for Soy in Human Health (ASA/WISHH) is set to continue the ‘Soy Flour for Bread & More’ campaign...

Interest rates fall 15.1% since January 2023

Interest rates in Ghana have dropped by a significant 15.1%, the highest fall in Africa since January 2023. Yields on the money market were...

Global economic growth was better than expected in quarter 1, 2023 – Fitch

The global economy got off to a better than expected start in 2023 with growth significantly beating our forecasts for China and broadly matching...

NPP has hurt me – Duffuor

National Democratic Congress (NDC) flagbearer hopeful, Dr Kwabena Duffuor, is still brooding over the collapse of his businesses by the ruling New Patriotic Party...

I don’t want to die prematurely – Investor with locked-up funds cries out

Mr. Ofori Sarkwa is a member of the locked-up investment forum, and he harbours a tearful fear. “My fear is that I don’t want to...

SEC assures Gold Coast Fund investors of payment of locked-up funds

The Securities and Exchange Commission (SEC) has assured the aggrieved customers of the defunct Gold Coast Fund Management that their petition would be relayed...

Taxi drivers react to digital services promise by Bawumia

Chairman of the Circle Taxi Association, Chairman Nii Ashie said his group does not believe Vice President Mahamudu Bawumia’s promise of a digital service...

Akufo-Addo commissions KIA vehicle assembly plant [Photos]

President Nana Addo Dankwa Akufo-Addo has commissioned the KIA automobile assembly plant in Ghana, urging the vehicle manufacturer to work towards making their products...

Ghanaian traders take on Nigerian engaged in wig sale at Makola

Some Ghanaian traders have taken on a Nigerian who engaged in the sale of human hair extensions at the Makola market in Accra on...

Fisheries Ministry to reduce importation of fish

The Ministry of Fisheries and Aquaculture Development has pledged to cut the importation of fish into the country. According to its Deputy Minister, Moses Anim,...

ECG considers jail term for illegal connection and other offences

The Electricity Company of Ghana (ECG) has hinted it is considering jail term for customers who access power illegally, engage in meter bypassing, power...