The Public Utilities and Regulatory Commission has increased electricity and water tariffs by 29.96% and 8.3% respectively. The new rates take effect from February 1, 2023. This follows the conclusion of its regulatory process for the quarterly adjustment of utility tariffs covering the first quarter of 2023. The Commission said the process is in conformity […]
Former Trade and Industry Minister, Alan John Kwadwo Kyerematen has officially handed over the sector to caretaker minister, Samuel Abu Jinapor. This follows a directive from the President, Nana Akufo-Addo through his Director of Communications at the Presidency, Eugene Arhin. On Friday, January 13, President Akufo-Addo in a press release directed the Lands and Natural […]
The first consignment of the Gold for Oil Policy by the government to stem the increasing depreciation of the cedi against the major currencies has arrived at the Tema Port and discharged into the receptacles of Bulk Oil Storage and Transportation Company (BOST), Graphic Online has gathered. The 41,000 metric tonnes of the petroleum products […]
The deadline for individual bondholders to assent to the governments invitation to the Domestic Debt Exchange Programme(DDEP) ends today. Reports, however, reaching the Daily Graphic indicate that the response has been extremely poor with millions of bondholders refusing to sign on, a development confirmed by some banks. It is not clear what the government’s response […]
Some commercial banks in the country have started sending messages to their individual bond holders to subscribe to the government’s Domestic Debt Exchange Programme (DDEP) by close of day Thursday (Jan 12, 2023). One of such messages the Graphic Online accessed read; “In pursuant to the Minister of ‘Finance’s directive on the Domestic Debt Exchange […]
he Mobile Money Agents Association Of Ghana (MMAAG) has expressed the hope that the revised rate of the Electronic Levy (E-Levy) of one per cent, which takes off today, will help revive its business, since operations suffered last year when the levy was introduced. It said with money transfer businesses having suffered with the rate […]
Ghana lost a total of $1.1 billion through unaccounted gold exports between 2019 and 2021, investigations by the Economic and Organised Crime Office (EOCO) have revealed. The Head of Organised Crime and member of the Illicit Financial Flows (IFFs) Unit at the Ministry of Finance and Economic Planning¸ Abdulai Bashiru Dapilah, said the defaulting companies […]
The first consignment of fuel in the government’s gold for oil deal will arrive next week, a Deputy Minister of Lands and Natural Resources, George Mireku Duker, has disclosed. “We have put all the lines together and we believe that we are ready to kick start it. “It is good and will help to cushion […]
Crude oil prices surged on Monday January 9, after China, one of the world’s largest economies opened its borders. With China being one of the largest importers of crude oil, the re-opening of their borders led to an increase in demand which pushed the prices of the crude oil from US$74.67 to US$79.47 per barrel. […]
The Bank of Ghana has authorised nine institutions to serve as Foreign Exchange (FX) Brokers. They are Black Star brokerage, CSI, Capital, Fenics MD, ICAP African brokers limited, Obsidian Acherner, Regulus, Sarpong Capital, Savvy Securities and Terika financial services limited. The authorisation takes effect from January 1, 2023 to December 31, 2023, a statement signed […]
For the first time, the government has announced minimum producer prices for oil palm and rubber across the country. The Tree Crops Development Authority (TCDA), which has been charged with the regulation of the tree crops sector, set the maiden price for oil palm at GH¢1,252.92 per tonne, and rubber at GH¢4.9167 per kilo. All […]
Ghana is poised to request debt relief through the G20 Common Framework programme and has sought reassurances that the negotiations can be expedited before proceeding, Reuters sources has said. It said Ghana, which secured a $3 billion staff-level agreement with the International Monetary Fund (IMF) in mid-December, has been hesitating due to the long delays […]
