Parliament approves Ken Ofori-Atta without expected controversy

Parliament on Monday 29 March 2021 unanimously approved Ken Ofori-Atta as Finance Minister without any controversy. The House approved him after a voice vote based on a report submitted to it by the appointments committee asking for his approval by consensus. Ofori-Atta becomes the first minister-nominee under Akufo-Addo’s second-term administration to have been vetted over a two-day period spanning […]

Gov’t reveals projections for 2021 budget

Government has issued the budget guidelines for the 2021-2024 fiscal period, which will facilitate the preparation of the 2021 budget by Ministries, Departments and Agencies (MDAs) as well as Metropolitan, Municipal and District Assemblies (MMDAs). Importantly, the guidelines reveal the key fiscal targets for 2021 as well. However, with general elections scheduled for the end […]

Gov’t launches three new policies to enhance digital payments

The government of Ghana has launched three new policy initiatives designed to deepen financial inclusion and accelerate digital payments in line with government’s vision of building a payment system that accelerates economic development. Announcing the policies— National Financial Inclusion and Development Strategy, Digital Financial Services Policy and cash-Lite Roadmap—, the Minister of Finance, Ken-Ofori Atta […]

President Akufo-Addo approves GHS15.6bn to pay depositors of collapsed financial companies

President Nana Akufo-Addo has granted executive approval for the expenditure of GHS15.6 billion to save the funds of depositors of the various financial institutions that have collapsed as well as shore up the liquidity of the financial sector. A letter addressed to the Minister of Finance, Mr Ken Ofori-Atta, by the President’s Executive Secretary Nana […]

Finance Minister fails to secure Committee’s approval for GHC15 billion for banking sector clean up

Finance Minister Ken Ofori-Atta has failed to secure approval from the finance committee of parliament for an amount of 15.6 billion cedis for the banking sector clean-up. The additional amount, according to a memorandum to parliament from Mr Ofori-Atta on November 28, 2019, is to be used to “protect depositors of failed financial institutions and […]