The president of the Ghana Union of Traders’ Associations (GUTA) says the reason prices of goods remain high despite the cedi’s recent gains is that the traders don’t trust that the gains will last. Dr. Joseph Obeng, speaking on JoyNews’ PM Express on Monday, May 12, said traders have been cautious because of what they’ve experienced in […]
The Ghana Union of Traders’ Associations (GUTA) is calling on traders to cut prices in response to the recent appreciation of the cedi. In a brief but firm statement, GUTA appealed to the trading community to reflect the currency gains in their pricing. “We wish to appeal to the trading community to adjust prices of […]
An economics lecturer at the University of Ghana, Professor William Baah Boateng, has issued a direct challenge to Ghanaian importers and traders benefiting from the appreciating cedi. He says they must reflect the gains of the local currency in the prices of goods or risk exposing a double standard. Speaking on Joy News’ PM Express Business […]
An economist says the recent appreciation of the Ghana Cedi and reduction in fuel prices may not lead to a corresponding drop in the prices of goods due to the country’s manual approach to economic management. Dr Samuel Worlanyo Mensah said that until Ghana adopts an automated economic analysis and decision-making system, such changes in […]
Ghana has reached a deal with nine more mining companies to purchase 20% of their gold production, a government body said on Wednesday, aiming to consolidate a gold purchase programme meant to boost the country’s gold reserves and stabilise its currency. Africa’s top gold producer signed an agreement with members of an industry group that included Gold […]
Ghana’s crude oil production has continued its downward trend for a fifth consecutive year, with total output for 2024 dropping to 48.25 million barrels, down from a peak of 71.44 million barrels in 2019. This development, revealed in the 2024 Annual Report of the Public Interest and Accountability Committee (PIAC), highlights concerns over the long-term […]
The Group Head of Retail Banking at Access Bank (Ghana) PLC, Matilda Asante-Asiedu, has been appointed as the second deputy Governor at the Bank of Ghana (BoG). Her appointment is in accordance with Section 17 of the Bank of Ghana Act, 2002 (Act 612) as amended. The Minister of State in charge of Government Communications […]
The MTN Group has revealed that approximately 5,700 MTN Ghana customers may have been impacted by a recent security breach. The Data Protection Commission (DPC) has initiated an investigation into a potential cybersecurity incident, following the unauthorised access of personal information belonging to certain MTN Ghana customers. MTN Group reassured the public that it is […]
A $220 million fine against Meta Platforms by Nigeria’s competition watchdog for violating local consumer, data protection and privacy laws has been upheld following an unsuccessful appeal, Nigeria’s Competition and Consumer Protection Tribunal said on Friday. Nigeria’s Federal Competition and Consumer Protection Commission (FCCPC) fined Meta last July for discriminatory and exploitative practices against Nigerian consumers, compared […]
The IMF Mission Chief for Ghana, Stéphane Roudet, says Ghana’s economic programme is on track and should end successfully, achieving the targets and structural reforms outlined for the country. “Another thing that has given us some assurance is that necessary laws have been instituted to enhance fiscal discipline going forward,” Roudet stated during a media […]
The Bank of Ghana has reported a sharp 33% increase in staff involvement in fraudulent activities across the banking and specialised deposit-taking sector for the year 2024. According to its latest annual fraud report, 365 employees were implicated in various acts of financial misconduct—up from 274 recorded in 2023. The report, which covers banks and […]
Vice President of IMANI Africa, Bright Simons, has criticised government’s planned early exit from the IMF programme, calling it a “classic case of good optics, bad economics.” Speaking on Joy News’ PM Express Business Edition on Thursday, April 24, he accused both the government and the IMF of elevating appearances over substance. “If the IMF […]
