The Governor of the Bank of Ghana, Dr Ernest Addison has insisted that the central bank does not need a positive equity to be able to effectively play its role as the lender of last resort. The decision of the central bank to take a 50 per cent hair cut during the Domestic Debt Exchange […]
Uber in Ghana has announced an agreement with Enterprise Group PLC & its subsidiaries in the General Insurance, Life Insurance, Health Insurance and Funeral services business, for the rollout of a unique bundled insurance package for a segment of Uber drivers. The product has been bundled together to offer insurance cover for the vehicle as […]
The Ghanaian government has extended fresh invitations to bondholders of E.S.L.A. Plc and Daakye Trust Plc, encouraging them to engage in the domestic debt exchange programme by trading their existing holdings for a new package. A press release issued on September 13 by the Ministry of Finance called upon holders of domestic notes and bonds […]
President Nana Addo Dankwa Akufo-Addo has turned on the valve at the offshore Jubilee Field to signify the production of additional oil from a new well, the Jubilee South East (JSE) Project. This successful project adds about 30,000 barrels of light sweet crude oil per day (bopd) to what is being produced from the country’s […]
Apple is testing the use of 3D printers to make the stainless steel chassis for its soon-to-be-released smartwatches, Bloomberg reported, citing people familiar with the matter. The company is reportedly initially testing the tech in production for the upcoming Apple Watch 9, and if all goes well, Apple will integrate it into the manufacturing process for more […]
The European Union (EU) has invested €120 million to boost the competitiveness of exports on the international market from Ghana and the other West African countries. In Ghana, over GH¢100 million has been injected into three main value chains, namely cassava, mango and pineapple, and cosmetics and personal care products. The investment in Ghana was […]
The Ghanaian Ministry of Finance has underscored the government’s unwavering dedication to meeting its forthcoming financial obligations within the Domestic Debt Exchange Programme (DDEP). This declaration follows the successful settlement of the initial coupon payment under the DDEP, which amounted to approximately GH¢2.4 billion (Ghanaian Cedis). Implemented in 2022 as a strategic initiative to alleviate […]
The Social Security and National Insurance Trust (SSNIT) says it has retrieved 132 million Ghana Cedis from 2,272 cases filed at the law court within the first half of 2023. The cases were related to employers who failed to honour statutory social security obligations on behalf of their employees. The Director-General of SSNIT, Dr. John […]
The Bulk Oil Storage and Transportation Limited Company (BOST) has posted a profit after tax of GH¢342 million for last year, the second time in 11 years. Up from the GH¢160.72 million recorded in 2021, the 112 per cent growth marks the state-owned company’s second successive profit in two years after 10 previous years of […]
The International Monetary Fund (IMF) has addressed the concerns surrounding the Bank of Ghana’s (BoG) GH¢60 billion loss incurred during the 2022 fiscal year, aiming to allay anxieties by asserting that there is no need for alarm. The BoG has faced heightened scrutiny from opposition political factions and civil society organizations due to the substantial […]
Wins from lottery games, casinos and marketing promotional raffles will now attract a 10 per cent tax with effect from August 15, 2023. This means that gross winnings from all betting, gaming, lotto and other games of chance will be subjected to a 10 per cent withholding tax which will be considered as a final […]
Ghana is now a member of the Executive Council of the United Nations World Tourism Organisation (UNWTO), an agency responsible for the promotion of responsible, sustainable and universally accessible tourism. The organisation also promotes tourism as driver of economic growth, inclusive development and sustainable environment. It also offers leadership and support to the sector to […]
