Former Mastercard boss Ajay Banga has been elected to lead the World Bank as it strives to help low-income countries overcome debt and combat climate change. Mr Banga, nominated by President Joe Biden for the post, is the first-ever Indian American to head the bank. He will replace David Malpass, who had sparked outcry by […]
The Director-General of the World Trade Organisation (WTO), Dr Ngozi Okonjo-Iweala, is set to visit Ghana today (Tuesday, April 25), as part of her efforts to reinforce support for Sub-Saharan Africa. During her two-day visit, she will meet with policymakers, business leaders, and civil society representatives to discuss making globalisation work for Africa. The visit […]
THE International Monetary Fund (IMF) has revised Ghana’s growth downwards in line with concerns that debt pressures and funding constraints would make it difficult for African economies to expand at full potential this year. The fund cut the country’s growth forecast to 1.6 per cent for 2023 this month, down from 2.8 per cent in […]
The Paris Club, a group of bilateral creditors that helps with workable solutions to payment problems faced by debtor nations, will form an Official Creditor Committee this week to look into Ghana’s request for financial assurances. The assurances, which come with debt restructuring and further strategic lending, will enable the country to present its programme […]
The International Monetary Fund (IMF) has doubled down on its plea to wealthier nations to support Ghana and other weaker economies to help such countries extricate themselves from the shackles of debt. The call also comes at a time when the fund has seen a $1. 6 billion shortfall in its funding in the face […]
Strong gains in some share prices saw the GSE Composite Index (GSE CI) increase by 14.01 per cent in March compared to last month, bringing the year-to-date gain to 12.33 per cent. The continued rally of the GSE-CI was underpinned by dividend announcements from some listed companies and investors seeking to diversify their holdings. Volumes […]
The Bank of Ghana (BoG) has announced that charges that are not disclosed to a borrower in a loan agreement should be considered null and void. Describing borrowers who may suffer such ordeal as victims, the BoG also directed commercial banks and lenders to refund such monies to the borrowers. “Borrowers shall be due a […]
The world’s wealthiest individuals have built their fortunes through shrewd investments and savvy business decisions, proving the old adage that “money makes money” to be true. According to the latest Bloomberg Billionaires Index, these 20 individuals have amassed incredible wealth over the years, with their net worth skyrocketing to astronomical heights. Topping the list is […]
Some Oil Marketing Companies (OMCs) have begun reviewing prices of petroleum products downwards at the pumps from today. The expected price reduction should have commenced from last Saturday, April 1, 2023. GOIL is selling a litre of petrol at ¢12.65 and diesel for ¢12.84 pesewas respectively. Also, Star Oil is selling a litre of petrol […]
Fuel prices will fall between 2% and 9% for the third consecutive time from April 1, 2023 with Liquefied Petroleum Gas (LPG) expected to witness its biggest decline in recent times. According to the Institute for Energy Security, LPG will go down by about 9%, whilst petrol and diesel will witness between 2% and 5% […]
The total value of Mobile Money transactions in the first two months of 2023 hit ¢264.1 billion, about 72.6% growth year-on-year. This significant growth shows that Mobile Money transactions is hitting record highs despite the Electronic Transaction Levy (E-Levy). In the first two months of 2022, total Mobile Money Transactions stood at 153 billion According […]
Chinese authorities have expressed their commitment to support Ghana to resolve the current short-term liquidity challenges. China will also continue to support Ghana’s medium and long-term developmental aspirations. “China believes in promoting debt sustainability and sustainable development,” the Chinese Minister of Finance, Liu Kun, said. He gave the assurance when the Minister of Finance, Ken […]
