The Monetary Policy Committee of the Bank of Ghana has dropped the policy rate by 200 basis points to 27 per cent. This is a result of the macro economic indicators trending in the right direction. Announcing the decision, the Governor of the Bank of Ghana, Dr Ernest Addison said the macro economic indicators are […]
The Bank of Ghana has launched the Ghana gold coin to provide more investment opportunities to Ghanaians. The gold coin, which is an initiative under its gold purchase programme will be available on the market in the next two weeks. Addressing the media at the Monetary Policy Committee (MPC) press conference on Friday [Sept 27, […]
The economy continued its positive recovery in the second quarter of 2024, recording a trade surplus for the third consecutive quarter. This marks a turnaround from the deficit experienced in the same period last year. The Government Statistician, Professor Samuel Annim, presenting a report on Trade Statistics for the second quarter of the year in […]
The Bank of Ghana has revealed a rapid emergence of SIM swap fraud targeting individuals with access to mobile banking channels. According to the apex bank, about GHȼ4.6 million was lost to this fraud in 2023, attributed to 15 recorded cases. This type of fraud targets individuals with mobile banking access, including banking apps, WhatsApp […]
Apple has discontinued several products following the unveiling of the iPhone 16 at its annual keynote event. The new line-up, which includes the iPhone 16, iPhone 16 Pro, AirPods 4, AirPods Max with USB-C, and a redesigned Apple Watch Series 10, has prompted the tech giant to phase out older models. iPhone 15 Pro and […]
Among the various types of fraudulent activities recorded in banks in Ghana in 2023, five stood out and came atop. They were; cash theft, cyber/email fraud, fraudulent withdrawals from accounts, forgery and manipulation of documents, and cheque fraud. Of the five, cash theft emerged as the topmost fraud recording a loss value of GH¢14.8 million […]
Ghana has lost more than a third of its 2023/24 cocoa output to smuggling, a top official from the cocoa marketing board (Cocobod) told Reuters, as low local prices and payment delays push some farmers to sell to increasingly sophisticated trafficking rings. Poor harvests in Ghana and Ivory Coast, the world’s second-largest and largest producers, […]
Some Oil Marketing Companies (OMCs) have started reducing prices of petroleum products at the pumps from today, September 16, 2024. Star Oil Ghana is selling a litre of petrol at GH₵12.55, indicating a one cedi drop. This represents a 7.9 percent decline. The company is also selling a litre of diesel at GH₵13.27. This represents […]
In a landmark event, the Asantehene, Otumfuo Osei Tutu II, paid a historic visit to COA Research and Manufacturing Limited Company, a leading pharmaceutical company in Ghana. The visit, which took place on Sunday, September 8, 2024, marked a significant milestone in the company’s history and reinforced the strong bond between the Asantehene and the […]
Staff groups of the Volta River Authority (VRA) have voiced their opposition to a draft bill proposing the merger of VRA with the Bui Power Authority. The proposal in question will also see the consolidation of the Electricity Company of Ghana (ECG) with the Northern Electricity Distribution Company (NEDCo), and the creation of an independent […]
Government will increase the state-guaranteed price paid to its cocoa farmers by nearly 45% for the 2024/25 crop season, two sources with knowledge of the price review told Reuters. This according to the sources aims to help boost their incomes and deter bean smuggling out of the country. The world’s number two cocoa producer raised […]
The Bank of Ghana has responded to concerns raised by Samuel Okudzeto Ablakwa regarding a $20 million transfer, which the Member of Parliament claimed lacked consistent documentation. In a statement issued on Wednesday, August 28, the central bank criticised the legislator for his allegations, noting that the funds were intended for the Central Bank of […]
