MTN Mobile Money Limited, a subsidiary of MTN Ghana, has effectively implemented the new Bank of Ghana (BoG) daily and monthly limits on mobile money transactions. It is part of measures to facilitate more efficient payments and encourage a seamless transition to a cash-lite society. Efficient payments A press release issued in Accra by MTN […]
Some leading Oil Marketing Companies (OMCs) have begun reducing prices of some petroleum products at the pumps. Market leader, GOIL, has announced more than 8% reduction in fuel prices. It has slashed the the price of diesel by ¢1.50 to now sell at ¢14.60 per litre. On the other hand, petrol is going for ¢12.40 […]
A third of the global economy will be in recession this year, the head of the International Monetary Fund (IMF) has warned. Kristalina Georgieva said 2023 will be “tougher” than last year as the US, EU and China see their economies slow. It comes as the war in Ukraine, rising prices, higher interest rates and […]
The year 2022 was a tough one for people and businesses around the world. Ghana struggled with a weakened Cedi and astronomical price increases. Traders adjusted their prices multiple times and banks raised lending rates significantly. The Ghana insurance industry showed goodwill with the market and held back from increasing the cost of insurance protection. […]
The Minister of Trade and Industry, Alan Kyerematen has inaugurated a rice processing factory in the Savelugu Municipality of the Northern Region. The factory which has the capacity to produce 1.5 and 2.8 tonnes of processed rice per hour is under the government’s One District, One Factory (1D1F) initiative. The event was held under the […]
From today, transport fares are expected to go down by 15.3 per cent, the Ghana Road Transport Coordinating Council (GRTCC) and the Ghana Private Road Transport Union (GPRTU) have announced. The reduction in fares is to commensurate with prevailing fuel prices on the market and it follows engagements between transport operators and the Ministry of Transport. “Following the negotiations, and in consideration with […]
Prices of petroleum products are expected to fall significantly beginning this Friday, December 16, 2022, the Institute for Energy Security (IES) has projected. According to IES, the expected price drops would be significant due to the 6.60% appreciation of the cedi against the US dollar. It said the new prices will fall to about ¢13 […]
The Ghanaian currency has continued to strengthen the trend against the US dollar and all the other major foreign currencies. The cedi in the last two weeks has been on a path of resurgence against all the major trading currencies. The local currency is currently trading at ¢8 to a dollar on the interbank market. […]
A former Finance Minister, Dr Kwabena Duffuor, has proposed the establishment of a National Economic Rescue Team to help find immediate and lasting solutions to the current economic challenges. He said the depth of the economic crisis and the ongoing attempt to restructure the domestic debt towards macroeconomic stability and recovery of the economy call […]
Finance Minister Ken Ofori-Atta has assured that treasury bills (T-bills) are exempted from government planned debt exchange programme. He gave the assurance in a statement issued on Sunday, December 4, 2022. According to Mr Ofori-Atta, small investors, individuals and other vulnerable groups who have invested in T-bills are exempted from the debt exchange exercise. “Treasury […]
The Accra High Court has rejected an amount of Ghc90m by William Ato Essien, the Founder of the defunct Capital Bank to possibly escape jail in a trial in which he has been accused of stealing depositors fund. Justice Eric Kyei Baffour was ready today with his judgment but had to pause after lawyers for […]
The National Communications Authority (NCA) has successfully registered 42.7 million Subscriber Identification Module (SIM) cards of mobile network operators (MNOs) in the country. They are the SIM cards that have gone through the two-stage registration process of linking them to the Ghana Card and also capturing the biometric data of their owners to match the […]
