A $220 million fine against Meta Platforms by Nigeria’s competition watchdog for violating local consumer, data protection and privacy laws has been upheld following an unsuccessful appeal, Nigeria’s Competition and Consumer Protection Tribunal said on Friday. Nigeria’s Federal Competition and Consumer Protection Commission (FCCPC) fined Meta last July for discriminatory and exploitative practices against Nigerian consumers, compared […]
The IMF Mission Chief for Ghana, Stéphane Roudet, says Ghana’s economic programme is on track and should end successfully, achieving the targets and structural reforms outlined for the country. “Another thing that has given us some assurance is that necessary laws have been instituted to enhance fiscal discipline going forward,” Roudet stated during a media […]
The Bank of Ghana has reported a sharp 33% increase in staff involvement in fraudulent activities across the banking and specialised deposit-taking sector for the year 2024. According to its latest annual fraud report, 365 employees were implicated in various acts of financial misconduct—up from 274 recorded in 2023. The report, which covers banks and […]
Vice President of IMANI Africa, Bright Simons, has criticised government’s planned early exit from the IMF programme, calling it a “classic case of good optics, bad economics.” Speaking on Joy News’ PM Express Business Edition on Thursday, April 24, he accused both the government and the IMF of elevating appearances over substance. “If the IMF […]
The Bank of Ghana, in collaboration with the Ministry of Finance, has released a revised list of institutions authorised to operate as Primary Dealers (PDs) and Bond Market Specialists (BMS) in the country’s financial markets. According to a notice issued on April 14, 2025, and signed by Sandra Thompson (Ms), Secretary to the Bank of […]
China has sent back planes it ordered from the US in its latest retaliation over Trump tariffs, the boss of aircraft maker Boeing has said. Kelly Ortberg said two planes had already been returned, and another would follow after trade tensions between the two countries escalated. Boeing’s chief executive told CNBC that 50 more planes […]
The Governor of the Bank of Ghana (BoG), Dr Johnson Asiama, has disclosed that the central bank is poised to begin regulating cryptocurrency platforms and virtual asset providers by the end of September 2025, marking a major policy shift in Ghana’s financial regulatory landscape. Speaking at the African Leaders and Partners Forum in Washington, D.C., […]
Gold has jumped to a fresh high as investors fret over the impact of the trade war between the US and China. Spot gold touched $3,357.40 (£2,540) per ounce on Wednesday, before dipping from its peak. It has risen by around a third since the start of the year. The rise follows comments by the […]
Zijin Mining Group Co., Ltd., a Chinese multinational mining firm, has officially completed the acquisition of the Akyem Gold Mine Project in Ghana from US-based Newmont Corporation. The $1 billion transaction marks a major shift in ownership of one of Ghana’s most prominent gold-producing assets and aligns with Zijin’s aggressive strategy to expand its global […]
The Ghana Union of Traders’ Associations (GUTA) has opposed the recent increase in utility tariffs approved by the Public Utilities Regulatory Commission (PURC). GUTA argued that the reasons for the tariff hike are unjustified, citing systemic inefficiencies, corruption, and mismanagement within the utility sector as the primary issues. This was contained in a statement signed […]
Gold Fields Limited, one of the world’s leading gold producers, is preparing to shut down its Damang mine in Ghana by Friday, April 18, 2025, after the government rejected the company’s application to extend its mining lease. The announcement, made on Monday, triggered a 6.3 per cent drop in Gold Fields’ share price on the […]
The Media Relations Officer of the Ghana Gold Board, Prince Kwame Minkah, says the sweeping overhaul of the country’s gold trading framework is aimed at formalising operations and curbing widespread smuggling in the sector. According to him, the long-standing issue of gold smuggling has reportedly led to significant losses in national revenue and foreign exchange. […]
