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BoG approves recapitalisation plans of undercapitalised banks – IMF

The Bank of Ghana has approved the recapitalisation plans submitted by undercapitalised banks, the Staff Report by the International Monetary Fund dubbed “2023 Article...

T-bills auction: Government records 121.4% oversubscription; Interest rates fall again

The government recorded 121.4% oversubscription of Treasury bills to the tune of GH¢5.606 billion. This follows the inflow of the second tranche of the International...

GRA exceeds 2023 target by mobilising GH¢113bn

Ghana Revenue Authority (GRA) collected GH¢113.06 billion for the 2023 fiscal year as against a revised target of GH¢109.19 billion. This performance represents a nominal...

ADB and 5 others obtain authorisation to sell assets of PBC Ltd, including its head office

A court order has been granted to the Agricultural Development Bank (ADB) and five other banks, namely Cal Bank, Bank of Africa, GCB, Universal...

Some PBC assets confiscated over GH¢300m debt

A consortium of banks has confiscated some assets of Produce Buying Company (PBC). This was after it secured a court order to sell some of...

Energy sector arrears stood at $1.6bn in 2022

Ghana’s energy sector arrears stood at some $ 1.6 billion, about 2.3 percent of Gross Domestic Product at the end of 2022. According to the...

Ghana remains in debt distress despite ongoing restructuring programme – IMF

Ghana remains in debt distress with its current position assessed as unsustainable, the International Monetary Fund has revealed in its Staff Report on Ghana...

GEA disburses over GH₵700m to boost small and medium-scale businesses

The Chief Executive of the Ghana Enterprises Agency, Kosi Yankey-Ayeh, has revealed that her organisation has successfully disbursed over GH₵700 million to support micro,...

PPPs key to economic transformation in Africa – KGL boss

The Executive Chairman of the KGL Group of Companies, Alex Apau Dadey has stressed the pivotal role that Public-Private Partnerships (PPPs) play in Africa's...

Akufo-Addo to commission 97 kilometre railway line in March

President Nana Akufo-Addo will be commissioning the 97 kilometre railway line from Tema to Mpakadan by March 2024 when the newly acquired trains arrive...

GRA to leverage customer-centric initiatives to exceed revenue target

The Ghana Revenue Authority plans to leverage customer-centric initiatives to woo more businesses and people into the tax bracket in 2024.  According to the Commissioner...

IMF expects revenue to underperform target; expenditure to overshoot target

The International Monetary Fund expects revenue to underperform the Ghana Government target by 0.1% of Gross Domestic Product in 2024, while expenditure overshoots the...

SML contract: Akufo-Addo rejects GRA’s request

President Akufo-Addo has denied the Ghana Revenue Authority’s request to allow for the running of the Strategic Mobilisation Ghana Limited (SML), system that has been installed to...

Duffuor cautions government against excessive taxation

Former Finance Minister, Dr. Kwabena Duffuor, is cautioning the government against what he described as excessive taxation. He says instead of increasing taxes, the government should rather build a robust and efficient tax capacity that has the capacity to generate enough domestic revenue to cushion the Ghanaian economy. He believes building a strong tax regime should be the focus of the current New Patriotic Party, rather than introducing taxes that could affect the growth of businesses and overburden Ghanaians.

Cocoa shortage forces shutdown of Ghana cocoa processors

Some cocoa processors in Ghana are said to have halted operations due to an acute shortage of cocoa beans, Cocoa Post has disclosed. According to...

VAT on electricity: Complete scrapping not the best – Energy expert replies TUC

Energy expert, Kojo Opoku has reacted to government's decision to impose a 15 percent Value Added Tax (VAT) on electricity consumption. Speaking on Adom FM's...

Inflation to fall to 22.4% in January 2024 – Report

Inflation is expected to decline to 22.4% in January 2024 from 23.4% in December 2023, IC Research has predicted in its latest report. According to...

IMF deal: Second tranche of $600m hits BOG’s account

The second tranche of International Monetary Fund (IMF cash has hit the Bank of Ghana’s (BoG) account on Tuesday, January 23, 2024. The IMF...

Fitch predicts favourable outlook for Ghana’s banking sector

Rating agency, Fitch, is predicting a favorable outlook for banks operating in Ghana in 2024. This follows the successful conclusion of the domestic debt exchange...

Nana Appiah Mensah pulled gun on us when we demanded our interest – Witness tells court

The fifth prosecution witness in the trial of Nana Appiah Mensah, aka NAM1, has testified that after investing GH¢760,000 in Menzgold, the accused assaulted...

Cedi loses 2.2% in value to dollar since January 2024; one dollar going for GH¢12.43

The Ghana cedi has lost 2.2% in value to the dollar since January 2024. This is despite the existence of the International Monetary Fund (IMF)...

Bond market: Turnover increased sharply by 48.47% week-on-week to GH¢1.24bn

Trading activity improved on the secondary bond market last week as week-on-week turnover increased sharply by 48.47% to GH¢1.24 billion. Trading activity concentrated more at...

GRA begs Akufo-Addo over SML deal

The Ghana Revenue Authority (GRA) has appealed to President Nana Akufo-Addo to allow Strategic Management Ghana Limited (SML) continue its operations, pending KPMG's report....

We are on course to bring down inflation drastically – Governor

The Governor of the Bank of Ghana, Dr. Ernest Addison, has expressed his outfit’s expectation for inflation to ease further, saying, the Central Bank...

T-bills auction: Interest rates down for 3rd consecutive week; achieves 72% oversubscription

Interest rates took a nose dive for the 3rd consecutive week-running in 2024, the day the International Monetary Fund approved the first review of Ghana’s...

GEA, Mastercard Foundation partner to Empower 250k young Ghanaians through BizBox Program

The Ghana Enterprises Agency (GEA) and the Mastercard Foundation on Monday, January 22, started a sensitization campaign for the groundbreaking Business in a Box...

Government’s incessant taxes state-sponsored robbery – Prof Bokpin

Economist and Professor of Finance, Prof Godfred A. Bokpin, has stated that the government's incessant imposition of taxes is a lazy approach to raising...

IMF’s $600m resounding affirmation of Ghana’s progress – Ofori-Atta

Finance Minister, Ken Ofori-Atta has expressed his appreciation for the release of the second tranche of Ghana's extended credit facility by the International Monetary...

IMF approves second $600m for immediate disbursement to Ghana

The International Monetary Fund (IMF) has approved the second tranche of US$600 million for Ghana. This was contained in a statement issued by the IMF...

Mobile Money fraud continues unabated; is Ghana Card helping?

In the relentless battle against the rising tide of mobile money fraud, the government's mandate to link SIM cards with Ghana Cards was hailed...

Functional private sector participation key to AfCFTA success – Akufo-Addo

President Akufo-Addo has reiterated calls for effective private sector-led participation to ensure the success of the African Continental Free Trade Area (AfCFTA). Speaking at...

‘I am fully committed to fiscal discipline in 2024 election year’ – Ofori-Atta

The Finance Minister, Ken Ofori-Atta, has expressed his personal commitment to fiscal discipline, assuring he will avoid budget overruns in 2024, ahead of the...

75% of firms perceive corruption as biggest bane to business operations – UKGCC 2023 Business Survey

Corruption, which was the topmost poorly rated component in 2022 continues to be the component that requires the most attention this year, the UK...

Successful IMF board meeting will lead to disbursement of second tranche to Ghana- John Kumah

Deputy Finance Minister Dr. John Kumah asserts that Ghana's economy has successfully overcome recent challenges, positioning itself for sustainable growth to benefit Ghanaians. In a...

Govt must invest IMF fund into productive activities not consumption – ISSER Director

The Director of the Institute of Statistical Social and Economic Research (ISSER), Prof Peter Quartey, has highlighted the importance of strategic investment in productive...

‘Ghana Beyond Aid’ but begging for debt relief

In a surprising turn of events, Ghana, a country that once championed the vision of "Ghana Beyond Aid," finds itself entangled in a web...

Ghanaians react to GRA’s pursuit of Cheddar over GH¢7 million tax debt

Ghanaians on social media have reacted to reports that, the Ghana Revenue Authority (GRA) has slapped leader of the New Force, Nana Kwame Bediako...

Cement manufacturers urged to publish recommended retail prices

The Ministry of Trade and Industry (MoTI) and the Chamber of Cement Manufacturers, Ghana (COCMAG) have reached an agreement to publish the suggested distribution...

$600m IMF cash will be advanced towards budget support – Ofori-Atta

The Minister of Finance, Ken Ofori-Atta, has revealed that the $600 million second tranche International Monetary Fund (IMF) bailout package expected next week would...

Agbeve Herbal Centre appoints Anertey Abbey as new Sales and Marketing head

Agbeve Herbal Centre has announced the appointment of Anertey Kwao Abbey as its new Head of Sales and Marketing. Mr Abbey's appointment takes effect from...