Ghana placed 2nd in remittance flows to Africa in 2023, the World Bank has revealed in its 2024 Migration Development Report. The country recorded $4.6 billion in remittance receipts in 2023. Nigeria came 1st with remittance flows of $19.5 billion. Kenya, Zimbabwe and Senegal came 3rd, 4th and 5th with inflows of $4.2 billion, $3.1 billion and […]
Finance Minister, Dr. Mohammed Amin Adam, has announced that the country’s economy is undergoing a robust rebound after enduring significant challenges over the past two years. He noted that all key indicators are trending positively and are expected to improve further. Speaking at a UK Town Hall meeting on Saturday, June 22, Dr Amin Adam […]
The management of Ghana Airports Company Limited has announced that the new terminal building at Prempeh I International Airport in Kumasi will be functional from Monday, July 1, 2024. In preparation for the transition from the old terminal to the state-of-the-art facility, the Ghana Airports Company Limited in collaboration with stakeholders, says there would be […]
Ghana’s economy grew by 4.7 per cent year-on-year in the first quarter of this year, compared to the 3.8 per cent recorded in the same period last year, the Ghana Statistical Service (GSS) has revealed. Mining and quarrying, information and communications as well as the crops sub-sectors witnessed enormous activities that pushed growth in productivity […]
Vice President, Dr. Mahamudu Bawumia says the Ministry of Finance is making arrangements to reimburse clients of companies liquidated by the Securities and Exchange Commission (SEC) during the financial sector clean-up exercise. The move, according to Dr. Bawumia, is aimed at bringing relief to affected investors while promoting transparency and accountability within the financial market. […]
Mining companies repatriated over US$4.2 billion to Ghana in 2023. This represents a little over 1.4% of the value of repatriation done in 2022. This is according to the 2023 mining report by the Ghana Chamber of Mines. A total of $2.7 billion was channeled through local banks, this was marginally lower than the value […]
The National Lottery Authority (NLA) and the European Lotteries Association have forged and fostered deeper collaboration aimed at enhancing their operational capabilities. To this end, experts from the European Lotteries Association who are currently on a working visit to the NLA, have held comprehensive training sessions for major players in Ghana’s lottery industry. Beneficiaries of […]
The Global Finance Magazine has released the latest ranking of countries worldwide based on their GDP per capita Countries were evaluated using GDP-PPP (Purchasing Power Parity) per capita, which considers differences in cost of living and inflation, providing a more accurate picture of economic well-being Nations with sophisticated financial sectors, lucrative natural resources, favourable tax […]
Government has announced plans to inject GH¢2.3 billion in the next 12 months as part of a recapitalisation plan for the ailing National Investment Bank (NIB). The first tranche of GH¢400 million is expected to be transferred to the bank before the end of May, this year. Minister for Finance, Dr Mohammed Amin Adam, announced […]
A recent study has revealed that Ghana is losing millions of cedis through illicit financial flows (IFFs) in the gold mining sector. The study, dubbed “increasing domestic revenue mobilisation by promoting corporate, natural resource and professional integrity”, was conducted with support from the Integrated Social Development Centre (ISODEC) in collaboration with the Global Financial Integrity. […]
Accounting and advisory firm, KPMG, has recommended an “orderly resolution” in the contract between the Ghana Revenue Authority (GRA) and the Strategic Mobilisation Limited (SML), including parliamentary approval. “The contract did not receive parliamentary approval as required by section 33 of the Public Financial Management Act, 2016 (PFMA Act 921). Parliamentary approval should be sought […]
The governing board of the Ghana Revenue Authority (GRA) has been reconstituted with a task for the board to work closely with relevant institutions to block revenue leakages. The Minister of Finance, Dr Mohammed Amin Adam who inaugurated the new board chaired by Joe Ghartey, the Member of Parliament for Essikado Ketan in the Western […]
