Ghana lost a total of $1.1 billion through unaccounted gold exports between 2019 and 2021, investigations by the Economic and Organised Crime Office (EOCO) have revealed. The Head of Organised Crime and member of the Illicit Financial Flows (IFFs) Unit at the Ministry of Finance and Economic Planning¸ Abdulai Bashiru Dapilah, said the defaulting companies […]
The first consignment of fuel in the government’s gold for oil deal will arrive next week, a Deputy Minister of Lands and Natural Resources, George Mireku Duker, has disclosed. “We have put all the lines together and we believe that we are ready to kick start it. “It is good and will help to cushion […]
Crude oil prices surged on Monday January 9, after China, one of the world’s largest economies opened its borders. With China being one of the largest importers of crude oil, the re-opening of their borders led to an increase in demand which pushed the prices of the crude oil from US$74.67 to US$79.47 per barrel. […]
The Bank of Ghana has authorised nine institutions to serve as Foreign Exchange (FX) Brokers. They are Black Star brokerage, CSI, Capital, Fenics MD, ICAP African brokers limited, Obsidian Acherner, Regulus, Sarpong Capital, Savvy Securities and Terika financial services limited. The authorisation takes effect from January 1, 2023 to December 31, 2023, a statement signed […]
For the first time, the government has announced minimum producer prices for oil palm and rubber across the country. The Tree Crops Development Authority (TCDA), which has been charged with the regulation of the tree crops sector, set the maiden price for oil palm at GH¢1,252.92 per tonne, and rubber at GH¢4.9167 per kilo. All […]
Ghana is poised to request debt relief through the G20 Common Framework programme and has sought reassurances that the negotiations can be expedited before proceeding, Reuters sources has said. It said Ghana, which secured a $3 billion staff-level agreement with the International Monetary Fund (IMF) in mid-December, has been hesitating due to the long delays […]
MTN Mobile Money Limited, a subsidiary of MTN Ghana, has effectively implemented the new Bank of Ghana (BoG) daily and monthly limits on mobile money transactions. It is part of measures to facilitate more efficient payments and encourage a seamless transition to a cash-lite society. Efficient payments A press release issued in Accra by MTN […]
Some leading Oil Marketing Companies (OMCs) have begun reducing prices of some petroleum products at the pumps. Market leader, GOIL, has announced more than 8% reduction in fuel prices. It has slashed the the price of diesel by ¢1.50 to now sell at ¢14.60 per litre. On the other hand, petrol is going for ¢12.40 […]
A third of the global economy will be in recession this year, the head of the International Monetary Fund (IMF) has warned. Kristalina Georgieva said 2023 will be “tougher” than last year as the US, EU and China see their economies slow. It comes as the war in Ukraine, rising prices, higher interest rates and […]
The year 2022 was a tough one for people and businesses around the world. Ghana struggled with a weakened Cedi and astronomical price increases. Traders adjusted their prices multiple times and banks raised lending rates significantly. The Ghana insurance industry showed goodwill with the market and held back from increasing the cost of insurance protection. […]
The Minister of Trade and Industry, Alan Kyerematen has inaugurated a rice processing factory in the Savelugu Municipality of the Northern Region. The factory which has the capacity to produce 1.5 and 2.8 tonnes of processed rice per hour is under the government’s One District, One Factory (1D1F) initiative. The event was held under the […]
From today, transport fares are expected to go down by 15.3 per cent, the Ghana Road Transport Coordinating Council (GRTCC) and the Ghana Private Road Transport Union (GPRTU) have announced. The reduction in fares is to commensurate with prevailing fuel prices on the market and it follows engagements between transport operators and the Ministry of Transport. “Following the negotiations, and in consideration with […]
