HomeBusiness

Business

Cedis appreciates $1 now ¢12.60

The Ghana cedi strengthened in value by almost 3% to one US dollar last week. This is coming after it had depreciated by about 1.98%...

Ken Ofori-Atta to present details of Debt Exchange Programme to Parliament

Finance Minister is expected to furnish Parliament with details of the ongoing debt restructuring. This was after the Minority succeeded with a Private Members’ Motion...

Cedi strengthens in value by almost 3% to a dollar

The Ghana cedi strengthened in value by almost 3% to one US dollar this week. This is coming after it had depreciated by about 1.98%...

Our meetings with Chinese delegation progressing well, fruitful – Finance Ministry

The Ministry of Finance has said that the government’s meetings with the Chinese delegation from EXIM Bank China are progressing well. In a statement on...

The impact of piracy on trade in the Gulf of Guinea

The Gulf of Guinea for many years has been one of the most lucrative routes for shipping lines within and outside of the West...

MTN, Huawei sign MoU to advance digital inclusion and sustainable development

MTN Group and Huawei on March 2, 2023 signed a memorandum of understanding to strengthen strategic cooperation in environmental, social and governance matters. The MoU,...

LPG Marketers Association calls for removal of taxes and levies

The Liquefied Petroleum Gas (LPG) Marketers Association of Ghana has renewed calls for the government to remove taxes and levies on LPG, which currently...

Ghana misses restructuring target in blow to ailing currency

Ghana’s cedi, the world’s second-worst performing currency this year, is heading for more pain after the the country missed a self-imposed deadline to restructure...

Good news for tanker unions

The Managing Director of Bulk Oil Storage and Transportation Company Limited (BOST), has assured tanker owners and drivers will not be left out in...

BOST MD appeals for increment in margin; says it’s woefully inadequate

The Managing Director of Bulk Oil Storage and Transportation Company Limited (BOST), Edwin Provencal, has appealed to the government for an increment in the...

Defunct Beige Bank CEO’s trial adjourned over misunderstanding with lawyer

The Economic and Financial Crime Division of the High Court in Accra has adjourned the trial of former Chief Executive Officer of defunct Beige...

3 bondholder groups demand immediate payment of matured coupons

Three bondholder groups are demanding the immediate payment of coupons and principals which matured on February 6th and 20th. The group is made up of the...

Prices of petrol and diesel to fall – COPEC

Prices of petrol and diesel are expected to fall between 3.7% and 4.04% per litre, beginning Thursday, March 2, 2023. According to the Chamber of...

Govt pays GH¢87 billion worth of bonds

Government has successfully concluded the Domestic Debt Exchange Programme (DDEP) for GH-denominated notes and bonds issued by the state, the Energy Sector Levy Act...

Sanitation Minister urges Jospong group, others to invest in recycling of used vehicles

The Jospong Group of Companies (JGC) and other interested private companies in Ghana’s waste management space have been urged to look at the possibility...

NEIP launches $200K Hub Acceleration Grant Programme

The National Entrepreneurship and Innovation Programme (NEIP) has launched the Hub Acceleration Grant Programme to support and accelerate Start-ups and SME growth in Ghana....

Govt postpones meeting with China on debt cancellation

Finance Minister, Ken Ofori-Atta, has hinted that a planned high-level government delegation to China has been postponed to late March 2023. This is owing to...

Only OMC’s with 45 retail outlets will receive gold for oil products – NPA

The Chief Executive of the National Petroleum Authority (NPA), Dr Mustapha Abdul-Hamid, has said the NPA in consultation with the Association of Oil Marketing...

Bond market: Turnover declines 80.3% to ¢135.63 m

Market activity on the bond market declined sharply as total turnover plummeted 80.3% to ¢135.63 million. This is coming after the government concluded the Domestic...

DDEP: Final principal amounts of new bonds announced

The government has announced the final principal amounts of new bonds issued in the Domestic Debt Exchange Programme’s (DDEP) settlement.  According to the Finance Ministry, “new...

Cedi lost 3.14% value to dollar last week; near-term outlook uncertain

The Ghana cedi lost about 3.14% value to the US dollar last week as the renewed depreciatory pressures set in. It started the week at...

MIIF grows beyond GHs3 billion as it outperforms global markets in 2022 

The Minerals Income Investment Fund (MIIF) has in its performance update for 2022 said, it now has Ghs 3.2 billion in Assets Under Management...

Letshego Holdings appoints Gorata Tlhale as Company Secretary

Africa’s inclusive finance provider, Letshego Holdings Ltd (Letshego Group) has appointed Gorata Tlhale Dibotelo as Head of Group Legal, Governance and Group Company Secretary...

Banks wrote-off about ¢5.9 billion as bad debt in 2022

Banks operating in Ghana wrote-off about ¢5.9 billion as bad debt in December 2022. According to the Domestic Money Banks Income Statement, this is about...

Cedi falls, $1 now ¢12.90

The recent gains by the Ghana cedi has come to a halt as the local currency lost some stability to the US dollar today...

All outstanding matured coupons to be honoured after February 21 – Finance Minister

The Finance Minister, Ken Ofori-Atta, has finally given a timeline to honour outstanding bonds which matured on February 6 for which government defaulted. According to...

Meet the brain behind multi-national company, Zeepay

Chief Executive Officer of Zeepay, Andrew Takyi-Appiah, has shared how he moved from a place of nothingness to establish a multinational company. The journey, according...

Debt roundtable to focus on broad restructuring hurdles – IMF

The International Monetary Fund’s (IMF) strategy director on Tuesday said the goal of a new sovereign debt panel of creditors and borrowers due to...

Full text: Ken Ofori-Atta’s statement to Parliament on DDEP

The Finance Minister, Ken Ofori-Atta, was in Parliament on Thursday to present a statement on the country’s Domestic Debt Exchange Programme (DDEP). He clarified those...

COVID-19, Russia-Ukraine war to blame for Ghana’s debt – Ken Ofori-Atta

Finance Minister, Ken Ofori Atta, has reiterated that the current state of Ghana’s debt is due to the lingering effects of the Covid-19 pandemic...

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...

Fuel prices drop by 5 percent

Some Oil Marketing Companies (OMC) have started reducing prices of petroleum products at the pumps from today, February 16, 2023. This is the second...

Fitch downgrades Ghana’s creditworthiness to deeper junk status

International ratings agency, Fitch Ratings, has downgraded Ghana’s creditworthiness to further junk status. In its latest report on Ghana, it said “Fitch Ratings downgraded Ghana’s Long-Term...

ECG, NEDCo’s indebtedness impacting negatively on our operations – GRIDCo

The Ghana Grid Company Limited (GRIDCO) is warning that constant power supply could be hampered if its cash flow challenges are not addressed immediately. The...

Fuel prices to fall between 7.1% and 10.8% from February 16

The prices of petrol and diesel are expected to drop significantly between 7.1% and 10.8% at the pumps, from Thursday, February 16, 2022. However, that...

IMF appoints Resident Adviser to Bank of Ghana

The International Monetary Fund (IMF) has appointed Leonard Chumo, Resident Adviser in financial sector supervision, to the Bank of Ghana (BoG). He is expected to...

Cedi continues rise against dollar

The Ghana cedi continued to rise steadily against the US dollar amidst the Bank of Ghana’s tight foreign exchange intervention. The regulator sold only...

Tullow refers tax dispute with GRA to International Arbitration

Tullow Oil Plc has announced that Tullow Ghana Limited (TGL) has filed requests for arbitration with the International Chamber of Commerce in London in...

Good news for bondholders

Government has assured persons who refused to exchange their bonds for new ones under the Domestic Debt Exchange Programme that their outstanding coupon payments...

Individual bondholders to protest on February 20

Individual bondholders are pilling pressure on the Finance Ministry to pay the over ¢4 billion in interest and principal on which the ministry defaulted. The...