Rating agency, Fitch, expects Ghana and Zambia to emerge from default on their foreign-currency debt in 2024. In its Regional Sub-Saharan African Sovereigns Outlook 2024, it stated that the two countries will come good in terms of restructuring their debts. “We forecast gradual fiscal consolidation due to financing constraints and fiscal reform efforts, which, in […]
Samsung’s family members plan to sell Samsung Electronics and major affiliates’ shares to pay the inheritance tax imposed after the passing of former Chairman Lee Kun-hee in 2020. It has been reported that members of the Samsung family, including Hong Ra-hee, former Director of Leeum Samsung Museum of Art, Lee Boo-jin, President of Hotel Shilla, […]
The Government Statistician, Professor Samuel Kobina Annim, presented the latest Consumer Price Inflation (CPI) data today in Accra, revealing a notable slowdown in the inflation rate by 3.2 percentage points. Inflation decreased to 23.2 per cent in December 2023, down from 26.4 per cent in November 2023. The year-on-year inflation drop marks the fifth consecutive […]
The government is seeking to borrow GH¢12.7 billion via treasury bills in January 2024, to finance maturing bills. This is 1.2% lower than that of December 2023. Already, the government has raised GH¢3.223 billion in the first auction of 2024, 15.24% more than the targeted amount. Based on the prevailing strong demand at an average […]
President Akufo-Addo has appointed Mrs. Yvonne Nana Afriyie Opare as the new Managing Director of the Ghana Airports Company Limited (GACL). This follows the retirement of Pamela Djamson-Tettey from the position after attaining the mandatory retirement age of 60. Madam Djamson Tettey took over on February 18, 2022 after Mr Yaw Kwakwa submitted his resignation […]
A swoop by the Ghana Revenue Authority (GRA) Accra South Compliance and Enforcement Team and the police has led to the arrest of a woman behind the operation of a chain of supermarkets and a warehouse in the Teshie area for Value Added Tax (VAT) infractions. The task forces have also summoned the owner of […]
A digital taxi service for Ghanaian Taxi Drivers, Tap n’ Go, has been launched in Accra, by the Ghana Private Road Transport Union (GPRTU), in conjunction with the Office of the Vice President. The Tap n’ Go app, which is available for download on the Google Playstore and Apple App Store operates like the established […]
The Director General of the National Communications Authority (NCA), Joe Anokye, has said that plans are far underway for Ghana to hook on to the 5G wireless data communication for mobile carriers. “We have made sure that the spectrum required for five 5G is available, there are few policies that must be made as to […]
Inflation in Ghana has witnessed a significant decline for the third consecutive month, reaching a 14-month low of 35.2% in October. This marks a substantial reduction from the figures of 38.1% in September and 40.1% in August, according to data released by the Ghana Statistical Service. Government Statistician, Samuel Kobina Annim, announced on Tuesday in […]
The Ghana Chamber of Mines has called on the government to be deliberate about developing mining host communities and not focus only on the revenue. The Chief Executive of the Ghana Chamber of Mines, Dr Sulemanu Koney, said revenue from mining communities must not be left to sink in the Consolidated Fund but must be […]
A One-District, One Factory (1D1F) entity, B5 Plus Ltd, has increased employment opportunities for over 10,000 youth with different educational backgrounds since the commissioning of the phase one of the modernised steel plant in 2021. With an installed capacity of 250,000 tonnes and 60,000 tonnes a year for its rolling mill and prefabricated manufacturing plant […]
The public sector wage bill has seen a significant reduction since the commencement of the Nationwide Payroll Monitoring exercise in April, this year, the Fair Wages and Salaries Commission (FWSC) has stated. The Chief Executive Officer (CEO) of FWSC, Benjamin Arthur, at a press briefing in Accra yesterday disclosed that data from the Controller and […]
