Finance

Vodafone cash subscribers to benefit from new partnership with Remitly

Vodafone Cash has announced a strategic partnership with Remitly Inc., a Seattle-based international money transfer company recognized on the Top 100 Cross-Border Payment Companies...

Bank Commercial Paper as an alternative to T-Bills as latter faces possible re-structuring

It is imperative that government reduces yields (interest rates) on T-Bills, given the country’s current precarious economic situation, this is no time for the...

VRA records ¢110.8m profit in 2022 – Auditor General Report

The Volta River Authority (VRA) recorded a profit of ¢110.893 million in 2022, about 1.7% decline over the previous year, the 2022 Auditor General...

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...

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...

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...

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...

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...

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...

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...

We have put in place structures to remain policy solvent – BoG

The Bank of Ghana says it has put in place structures to ensure that it remains policy solvent and well able to deliver on...

There’s a need to revisit structure, nature of taxes – Ken Ofori-Atta

In a crucial meeting with the business community ahead of the mid-year budget review, the Finance Minister, Ken Ofori-Atta, addressed pressing issues concerning the...

Gov’t must prioritise simple, affordable tax policies – GUTA

The Ghana Union of Traders Association (GUTA) has urged government to prioritise and implement policy actions that will make tax affordable, simple for businesses,...

Ghana’s economy will get worse before getting better – Fitch Solutions

Fitch Solutions has reaffirmed its position that economic activities in Ghana will get worse before getting better in 2023. This is coming despite the expansion...

Govt announces new DDEP for U.S dollar denominated domestic bonds

Government has announced a new Domestic Debt Exchange Programme (DDEP) for U.S dollar denominated domestic bonds. A statement from the Ministry of Finance dated July...

Sentuo Oil Refinery poised to produce adequate oil & gas products as it gears towards full production

The Minister of Trade and Industry, Kobina Tahir Hammond, has paid a working visit to the Sentuo Oil Refinery Limited (SORL), touting the project...

Govt destroying social trust – Economist

An economics lecturer at the University of Ghana, Dr Patrick Asuming, has stated that the government's failure to honour its obligations is destroying the...

Finance Ministry sends good news to individual bondholders

The Finance Ministry says it has settled all outstanding coupons and principal payments up until June 19, 2023 and has sent out instructions for...

Ghana seeks $2.5bn in external financing through debt restructuring

The Chief Executive Officer (CEO) of the Ghana Investment Promotion Center (GIPC), Yofi Grant, has revealed that Ghana is set to undergo external debt...

Approval of Ghana’s IMF programme in 10 months is a record – Akufo-Addo

President Nana Addo Dankwa Akufo-Addo has stated that Ghana’s International Monetary Fund (IMF) bailout prorgramme which took 10 months to be completed is one...

Newmont pays over GHS 800 million as Q1 taxes to Gov’t of Ghana

Newmont Africa has announced that in the first quarter of 2023, its Ghana operations (Ahafo South and Akyem mines) paid a total of GHS...

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 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...

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...

IMF deal: We intend to take investor community across Jordan – Ofori-Atta

Finance Minister, Ken Ofori-Atta, says the government is committed to ensuring that the country and the investor community will be able to sail through...

Finance Minister requests participation of pension funds in new proposed offer

The Finance Minister, Ken Ofori-Atta has urged the Board of Trustees of pensions funds to allow for pension funds to be included in government’s...

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...

Ghana ranked first in West Africa Digital Competitiveness Index 2022

Digital Foundation Africa, a pan-African think tank focused on unlocking and shaping the continent’s digital future through research, policy and skill development and advocacy...

MoMo transaction: Good news for Vodafone cash customers

A new directive by the Bank of Ghana (BoG) has introduced new mobile money transaction and wallet limits. Customers with daily transaction limits of ¢1,000,...

1% E-levy implementation starts today

The implementation of the revised Electronic Transfer levy (E-Levy) rate of 1% kicks off today, Wednesday, January 11. The Ghana Chamber of Telecommunications has announced...

Life coach shares some tips for a successful New Year

As individuals, we enter every New Year with different goals, positive mindsets or just hope the year brings good luck, progress and success in...

Fitch to downgrade Ghana to very deeper junk status; Ghana’s Issuer Default Rating now ‘C’

Rating agency, Fitch, has given an indication of a further downgrade of Ghana’s credit rating to very deeper junk status. This is coming after it...

E-levy rate reviewed to 1%; GH¢100 daily threshold maintained

The Minority in Parliament has succeeded in ensuring that government maintains the GH¢100 Mobile Money threshold. Parliament also approved the reduction of the Electronic Transfer...

Victory at last: Pension Funds exempted from Debt Exchange Programme

Government has announced an exemption of all pension funds from the Debt Exchange Programme. This follows a meeting between Organised Labour, Ministry of Employment and...

Finance Minister calls for stakeholder support to sustain cedi rebound

Ken Ofori-Atta has called on all stakeholders, including parliament, to work collectively and support government to sustain the recent gains of the Cedi against...

BoG give reasons for cedi’s stability against US dollar

The Bank of Ghana (BoG) has attributed the cedis’ recent gains to new set of monetary measures instituted by the central bank. According to the...

Full text: Ken Ofori-Atta’s speech on Staff Level Agreement (SLA) for an IMF-supported programme

Appreciation I will like to first of all thank the almighty God for providing the needed guidance to the GoG and the Fund to get...

Moody’s downgrades Ghana to further junk status, warns investors could lose in debt restructuring

Moody’s has downgraded the Government of Ghana’s long-term issuer ratings to Ca from Caa2 or further junk status and changed the outlook to stable. This...

2023 Budget: Check out implementation of Cabinet directives on expenditure measures

Mr Speaker, as a first step towards expenditure rationalisation, Government has approved the following directives which takes effect from January, 2023: • All MDAs, MMDAs...

Nigeria’s govt unveils new Naira notes [Photos]

President Muhammadu Buhari on Wednesday finally unveiled the re-designed Naira Notes as proposed by the Central Bank of Nigeria (CBN). The CBN Governor, Godwin Emefiele,...