The boom in digital payment platforms and digital banking systems have come with its own risks and cost to the financial industry. Latest figures from the Association of Certified Fraud Examiners (ACFE) indicates that the global financial industry loses about US$67 billion to fraud related activities annually. The United Nations Office on Drugs and Crime […]
The National Communications Authority has denied an application by the Vodafone Group to transfer 70% majority Shares in Vodafone Ghana to the Telecel Group. The NCA in a press release issued today said the application did not meet the regulatory threshold for the approval to be granted. “In January 2022, the NCA received an application for the […]
OF every cedi collected in tax revenue this year, more than 55 pesewas will be used to service the debt. When measured against this year’s projected total revenue and grants, debt service cost is estimated to wipe off more than 43 pesewas of every one cedi that will be accrued to the state. This follows […]
The company that produces Verna mineral water has initiated a product recall from the market following some factory defect. Products that are being recalled have the batch numbers TW/5 20:14 B, TW/5 20: 15 B, TW/5 20: 16 B, TW/ 5 20: 17 B, TW/ 5 20: 22 B. In a statement issued by the […]
The Bank of Ghana (BoG) has denied allegations that it has printed GH¢22.04 billion in new money to finance the 2022 budget without recourse to Parliament. It said the amount being referred to represented claims on government, and not new currency printed to support the government’s budget. In a press statement dated July 26, 2022, […]
The government will use today’s mid-year budget review (MYBR) to address the myriad of challenges facing the Nation Builders Corps (NABCo) programme that was introduced in 2018 to provide jobs for the teaming youth. It is expected that it would announce a comprehensive exercise to integrate the beneficiaries into the YouStart programme, another initiative of […]
The Head of Consumer Services at the National Petroleum Authority (NPA), Eunice Budu Nyarko, has appealed to the public to purchase fuel only from filling stations with certification. She said stations with green Ghana Standards Authority (GSA) stickers were always the go-to places for petroleum products, since those stations were regularly monitored by the NPA […]
The Mid-Year Review of the Budget Statement and Economic Policy of the Government and Supplementary Estimate for the 2022 financial year in Parliament has been postponed to July 27, 2022. The review is in pursuance of the Public Financial Management Act, 2016 (Act 921). The Majority Leader and the Leader of Government Business in Parliament, […]
Officials of the International Monetary Fund (IMF) will commence negotiations with the government today on a possible programme to support Ghana’s homegrown economic policies. The IMF team – led by the Mission Chief for Ghana, Carlo Sdralevich – will have in-person meetings with the Finance Ministry, the Economic Management and the Presidency from July 6 […]
For the country to enjoy the full benefits of the local content policy in the mining industry, it must ensure that the local companies in the supply chain are producing more of the mining goods within the country, the immediate past President of the Chamber, Eric Asubonteng, has said. He said although the mining companies […]
The Finance Ministry has disclosed that government will not terminate the 1.5% levy on electronic transactions, despite its application to the International Monetary Fund (IMF) for economic assistance. This was contained in a statement from the Ministry on Tuesday, addressing key questions regarding government’s ongoing engagement with the Fund. Regarding the controversial levy, the Ministry […]
A high-powered team from the International Monetary Fund (IMF) head office in Washington DC will be in Ghana on Tuesday to begin formal discussions for a new economic support programme for the country beginning Wednesday (July 6, 2022). The government will on Wednesday officially start preliminary negotiations into Ghana’s quest to seek a bailout from the fund. […]
