The Bank of Ghana (BoG) has directed mining firms to channel their foreign exchange inflows through commercial banks, rather than directly to the central bank. The directive, communicated to the mining companies this week, is part of measures to boost interbank forex trading and improve liquidity. BoG Governor, Dr. Johnson Asiama, confirmed the move in […]
President John Dramani Mahama has revealed that trade between Ghana and Singapore reached over US$215 million in 2024, and he is now targeting billion-dollar growth. Speaking at the opening of the 8th Africa–Singapore Business Forum in Singapore on Tuesday, he said Ghana is ready to deepen ties with Asia and scale up trade. “Ghana-Singapore trade […]
The Ghana Industrial Trawlers Association (GITA) is ushering in a new era with the election of Mr. Dominic Asamoah Danquah, popularly known in industry circles as Mr. Fish, as its new National President. His decisive victory signals a fresh chapter for the Association, which is currently navigating several critical challenges. Mr. Danquah emerged victorious in […]
Delta Air Lines and United Airlines were sued on Tuesday by passengers who claimed they paid extra money to sit in “window” seats, only to find themselves placed in seats next to a blank wall. Proposed class actions were filed against United in the San Francisco federal court and against Delta in Brooklyn, New York […]
President John Mahama has declared that the Ghanaian cedi is the best-performing currency in the world this year, as he urged Japanese businesses to seize new investment opportunities in Ghana. Speaking at the Ghana Presidential Investment Forum on the sidelines of the 9th Tokyo International Conference on African Development (TICAD IX) on Wednesday, he said […]
A coalition of Ghanaian cocoa farmers has threatened to bar officers of the national regulator from their farms to protest the newly announced producer price for the upcoming season, which they say could fuel illegal smuggling to the Ivory Coast and Togo. More than 300,000 farmers expressed anger over what they consider inadequate compensation, with […]
The Auditor-General has reported significant misstatements and weaknesses in the 2024 Whole-of-Government Accounts (WGA), including an overstatement of Ghana’s public debt by GH¢138.91 billion, as well as deficiencies in financial reporting and asset management. The findings, contained in the Report of the Auditor-General on the Public Accounts of Ghana for the Year Ended 31 December […]
Wilful loan defaulters could soon face a five-year ban from accessing credit from any regulated financial institution in Ghana. The new Bank of Ghana (BoG) directive also requires commercial banks and other regulated lenders to publish the names of such defaulters twice a year, on June 30 and December 31, in at least two national […]
The total value of pension fund assets in Ghana reached a record GH¢86.23 billion in 2024, up from GH¢61.8 billion in 2023. This represents a 39.5% increase over the previous year, according to the 2024 Financial Sector Report on pension activities. Growth Drivers The report attributes the growth to stricter enforcement against employers defaulting on […]
The First Deputy Governor of the Bank of Ghana (BoG) has revealed that the Domestic Gold Purchase Programme has helped BoG to increase its gold reserves by 100% within the past five months since June 2021. Dr. Zakari Mumuni noted that the sharp increase came at a time when the Bank of Ghana’s reserves stood […]
Ghana’s annual inflation rate fell for the seventh consecutive month to 12.1 per cent in July, down from 13.7 per cent in June, marking the lowest level since October 2021, Government Statistician Dr. Alhassan Iddrisu announced today. Speaking at a press briefing in Accra today, Dr. Iddrisu noted that the sustained decline signals easing price […]
The Ghana Cocoa Board (COCOBOD) has announced that it will not pursue a syndicated loan to finance cocoa purchases for the 2025/26 crop season, attributing the decision to the ongoing global shortage of cocoa beans. Speaking in an interview on Citi FM on Monday, 4 August, COCOBOD’s Head of Public Affairs, Jerome Kwaku Sam, stated […]
