The Ministry of Foreign Affairs has alerted Ghanaian traders and businesses to Burkina Faso’s continued ban on the export of cereals and white beans, urging full compliance to avoid sanctions. In a statement issued on Tuesday, February 25, the Ministry cited official communications from Burkina Faso – joint communiqués No. 023-0017 dated December 19, 2023, […]
The Ghana Union of Traders’ Associations (GUTA) has expressed cautious optimism ahead of the government’s 2025 Budget Statement, emphasising the need for significant reforms to reduce the cost of doing business. The Association welcomed assurances from the new administration to streamline the tax system and cut down taxes, duties, and levies, which have long been […]
President John Mahama has urged the Governor of the Bank of Ghana, Dr Johnson Pandit Asiama and his First Deputy Governor to uphold and protect the independence of the bank. Speaking at Jubilee House on Tuesday, February 25, shortly after swearing them into office, he emphasised that as part of efforts to strengthen the economy, […]
President John Maham has nominated the Head of Financial Markets at the Bank of Ghana (BoG) Dr Zakari Mumuni as First Deputy Governor of the Bank of Ghana. JoyBusiness understands that the decision was taken last Friday, February 21. Dr Mumuni is a distinguished central banker and researcher known for his contributions to monetary policy […]
The Bank of Ghana (BoG) has announced an audit of remittance transactions covering the period from October 1, 2024, to December 31, 2024, as part of efforts to strengthen the country’s financial regulatory framework. According to a notice to the public signed by the Secretary of the central bank, Sandra Thompson on February 19, the […]
The Ghana National Petroleum Corporation (GNPC) has announced Kwame Ntow Amoah as its new Acting Chief Executive Officer. He takes over from Edward Abambire Bawa, who has been reassigned to GOIL as Managing Director and Group CEO. Mr Amoah brings a wealth of experience to his new role, having previously served as Deputy Chief Executive […]
Consumers are bracing for mixed outcomes at the pumps as global fuel prices decline, but the local currency’s depreciation threatens to offset potential relief. Despite a steady drop in Brent crude prices and refined petroleum product costs on the international market, the Ghanaian Cedi’s 2.18% fall against the U.S. Dollar is keeping fuel prices volatile. […]
World Bank Country Director for Ghana, Liberia, and Sierra Leone, Robert Taliercio, has cautioned Ghana against making a premature return to international capital markets, warning that such a move could undermine the country’s recent economic recovery. Speaking at the launch of the World Bank’s latest Public Finance Review report, titled “Building the Foundations for a Resilient […]
The government of Ghana has rejected GH₵2.9 billion in Treasury bill bids following a highly oversubscribed auction, as investors flooded the market with offers totaling GH₵10.6 billion. The Treasury had set a target of GH₵7.3 billion but ended up accepting GH₵7.7 billion, slightly above its goal. The move to reject a significant portion of the […]
A former shareholder of the State Insurance Company (SIC), Larry Kwesi Jiagge, has called on the government to conduct a forensic audit of the company, particularly regarding the allocation of business to a specific company. Speaking on Joy FM’s Super Morning Show on Friday, February 7, Mr Jiagge, who is also a lawyer and a […]
The government has initiated a review of the Gold for Oil policy, holding a crucial meeting with petroleum sector stakeholders amid concerns over potential fuel shortages in parts of the country. On his first day in office, Energy Minister John Jinapor met with key industry groups, including the Bulk Oil Distribution Companies, the Chamber of […]
Fitch Ratings has expressed optimism about the recovery of Ghana’s banking sector, citing strong profits and improved capitalisation after the challenges brought on by the Domestic Debt Exchange Programme (DDEP). The ratings agency forecasts a brighter outlook for the sector as economic stabilisation efforts gain momentum. In its latest report, Fitch highlighted the critical role […]
