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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...

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...

Business Lens Global – CEO speaks at Coventry University about urban air mobility

Dr Fidel Owusu Agyei, Chief Executive Officer and President for Business Lens Ghana and Africa represented Ghana at the Urban Air Mobility Service Dialogue...

Debt exchange: Govt gets over 80% participation

Government is said to have achieved the 80 percent target need for the Domestic Debt Exchange Programme (DDEP). The programme, is part of the requirements...

Ga East market women call for Municipal Chief Executive’s head [Video]

https://youtu.be/CQTzru9glR8 Traders at Dome, Kwabenya and Taifa markets in Accra want the Chief Executive of the Ga East Municipal Assembly, Kaakie Mann dismissed. The traders at...

Cedi extends gains against major trading currencies

The cedi extended its gains against major trading currencies last week, raising hopes that the local currency is beginning to stay steady ahead of...

How are you getting the gold? – Alex Mould quizzes govt over gold-for-oil deal

JoyNews/AdomNews · ALEX MOULD ON GOLD A former Chief Executive Officer of the National Petroleum Authority (NPA) has said there is nothing innovative about the...

Illegitimate post-retirement contract for Commissioner-General of GRA creating tension; act – Prof Gyampo to Akufo-Addo

Political Scientist Prof Ransford Gyampo has detailed, unfair and illegitimate contract extensions for key officers at the Ghana Revenue Authority (GRA), including the Commissioner...

Cocoa export to hit $4.1bn in 2025 – Oppong Nkrumah

The export of cocoa beans will rake in $4.1 billion for the country in 2025, Minister of Information, Kojo Oppong Nkrumah, has disclosed. According...

Full text: Ken Ofori-Atta’s address on DDEP deadline eve

Finance Minister Ken Ofori-Atta addressed the nation on Monday recommending that bondholders accept the Domestic Debt Exchange Programme (DDEP) otherwise, reviving the economy will...

Ghana Gas to build second Processing Plant; 1.5k jobs assured

The Ghana National Gas Company (GNGC) has signed a project agreement for the construction of a second Gas Processing Plant (Train 2). The ceremony was...

T-bills auction: Government records 37.3% oversubscription; interest rates still high

Government recorded a 37.3% oversubscription of Treasury bills sale for the second week running, as the short term securities market remain the only source...

Gold for oil deal will stabilise fuel prices – NPA

The National Petroleum Authority (NPA), says the government’s 'Gold for Oil' deal will contribute to efforts to stabilise the prices of petroleum products across...

Good news as $1 now ¢10.40

The Ghana cedi continued its recent gain against the US dollar, starting the week on a positive note. Checks by Joy Business at the forex...

12.5% VAT to blame for mobile data price increment – MTN

Telecommunications company, MTN is attributing the increase in the price of mobile data and other services to the implementation of the 2.5% statutory adjustment...

Ghana withdraws $672 million back-tax demand from MTN Group

MTN Group Limited, Africa’s largest wireless carrier, has said a GH¢8.2 billion ($672 million) tax bill it received from the Ghana Revenue Authority (GRA)...

GOIL attributes drop in diesel price to Gold for Oil barter deal

A leading Oil Marketing Company (OMC), GOIL, has attributed the reduction in the price of diesel today, January 3, 2023 to the impact of...

Cedi chases dollar, ¢1 now ¢12.50

The Ghana cedi continued its marginal improvement against the US dollar today February 3, 2023, selling at ¢12.50. This is about 3.1% gain to the...

Education Minister commends Ghana Gas

Minister of Education, Dr Yaw Osei Adutwum, has acknowledged the massive and excellent contributions of the Chief Executive Officer of the Ghana National Gas...