Banks’ performance has rebounded after the Domestic Debt Exchange Programme (DDEP), Governor of the Bank of Ghana, (BoG), Dr Ernest Addison has said. He indicated that the banks that were severely hit by the DDEP are relying on the Bank of Ghana-approved capital restoration policy. Dr Addison said these at the 117th Monetary Policy Committee […] The post Banks’ performances
Ghana’s foreign exchange market came under some seasonal pressures in February and early March 2024, but the Ghana cedi continues to recover its value, Governor of the Bank of Ghana (BoG) Dr Ernest Addison has said. He explained that the pressures emanated mainly from the strengthening of the US dollar in international markets, and payments […] The post Ghana’s
Gross international reserves (GIR)increased in 2023, Governor of the Bank of Ghana (BoG) Dr Ernest Addison has said. The stock of the GIR at the end of December 2023 rose to US$5.91 billion, equivalent to 2.7 months of imports cover for goods and services, he said. Excluding pledged assets and the Ghana Petroleum funds, the […] The post Ghana’s gross international reserves
The Electricity Company of Ghana (ECG) has attributed the current power outage being experienced in parts of Accra to an outage from the Ghana Grid Company Limited’s Mallam Bulk Supply Point (BSP). It said affected areas include West Hills Mall, Sunda, Bortianor, McCarthy Hill, Mallam, Dansoman, Sakaman, Lapaz, Gbegbeyise, Glefe, Exhibition, Sowutuom, Kwashieman, Odorkor, Fadama, […] The post ECG
Abubakar Kamoko, the son of retired Ghanaian boxer Bukom Banku, has etched his name in history at the recently concluded 2023 African Games by securing a silver medal, surpassing his father’s achievements from 25 years ago. Competing in the fiercely contested 86kg cruiserweight category, Kamoko initially secured his place in the semifinals with an outstanding […] The post African
The Bank of Ghana has reiterated its commitment to combating the circulation of counterfeit currency. The Central Bank emphasizes its progress toward achieving a zero-counterfeit regime. Counterfeiting and possession of counterfeit banknotes are punishable by law. During a press conference held during a tour of the currency processing centre as part of Ghana Heritage Month, […] The post BoG
Ghana’s policy rate is one of the highest globally and can not be justified, therefore the Bank of Ghana (BoG) has a duty to slash it drastically by at least 200 basis points, an economist and Director of Research at the Institue of Economic Affairs (IEA), Dr John Kwakye, has said. In his view, reducing […] The post Ghana’s policy rate is one of the highest
The Bank of Ghana (BoG) has a duty to slash its Policy Rate (PR) drastically by at least 200 basis points, an economist and Director of Research at the Institue of Economic Affairs (IEA), Dr John Kwakye, has said. In his view, reducing the rate drastically will trigger a decline in the ‘artificially high’ lending […] The post Cut policy rate drastically – Economist tells Bank
Large areas of Ukraine are suffering blackouts after Russian missiles targeted energy infrastructure. Fifteen blasts were reported in the second-largest city, Kharkiv, said the mayor, while more than 53,000 households in Odesa were without power. Ukraine’s energy minister, German Galushchenko, accused Russia of trying to provoke “a large-scale failure of the country’s energy system”. A […] The post Blackouts
In the wake of recent internet disruptions, the Ghana Revenue Authority (GRA) has been compelled to address concerns regarding the erroneous imposition of E-Levy on certain electronic transactions. According to the GRA, the interruption in internet connectivity impacted the real-time routing of electronic transactions to the Electronic Transfer Levy Management and Assurance System (ELMAS), prompting […] The post Internet
Geoffrey Kabutey Ocansey, a tax analyst, has expressed disagreement with the Vice President’s comments on the Ghana Revenue Authority (GRA), describing them as unfortunate. On Wednesday, March 20th, Dr. Mahamudu Bawumia accused the GRA of harassing businesses under the pretence of tax collection. He voiced these concerns during a discussion with members of the Ghana […] The post It’s
The Governor of the Bank of Ghana, Dr. Ernest Addison, has underscored the need for banks to remain committed to their critical role of bridging trade financing in both the primary and secondary markets. According to the governor, this will help strengthen the country’s financial systems. Speaking at the Ghana International Bank cocktail event to […] The post BoG
Stephen Asamoah Boateng presenting certificate to one of the winners The Ghana Culture Forum (GCF) has commended GCB Bank PLC’s support towards the 2024 Ghana Culture Week. Chairpersonof the Read More... The post Ghana Culture Forum Lauds GCB Bank appeared first on
The Assistant Commissioner of the Ghana Revenue Authority (GRA), Emelia Assam, has dismissed claims by flagbearer of the New Patriotic Party, Dr Mahamudu Bawumia that businesses are being unduly harassed for taxes. Dr. Bawumia, during a meeting with members of the Ghana National Chamber of Commerce and Industry on Wednesday, March 20, accused the GRA […] The post We don’t harass
The Ghana Revenue Authority (GRA) has urged taxpayers who feel harassed by its officers to report to their respective tax offices for resolution. Concerns have arisen regarding alleged harassment by some tax officers when collecting taxes. During a discussion with members of the Ghana Chamber of Commerce and Industry in Accra on Wednesday, Vice President […] The post Report tax officers
Head of Financial Advisory & Equity Capital Markets at Stanbic Bank, Isaac Simpson, has emphasized the need for collaboration between the right stakeholders in order to form the necessary policies to accelerate sustainable finance. He made this statement at the 2024 Africa Energy Technology Conference, held at the Labadi Beach Hotel. Speaking on the topic […] The post
Dennis Miracles Aboagye, the spokesperson for Dr Mahamudu Bawumia’s campaign team, has clarified that the Vice President did not criticize the Ghana Revenue Authority (GRA) during a meeting with the Ghana Chamber of Commerce and Industry. Dr. Bawumia expressed concerns over the GRA’s alleged harassment of businesses under the guise of tax collection during a […] The post Bawumia
The Nigerian Federal Government is in talks with the World Bank to complete the processes of obtaining over $1 billion loans to address the challenges facing Internally Displaced Persons and their host communities, as well as bolster rural access and agricultural marketing in the country. The request is contained in a recent World Bank document […] The post Govt eyes fresh $1bn World Bank loan for
Fidelity Bank, Ghana’s largest privately-owned bank has held its inaugural Stakeholder Workshop, as well as the Orange Summit, to address critical needs in sustainability and young entrepreneur development. These events are in line with the bank’s commitment to a brighter future for Ghana, through impactful initiatives on two key fronts – fostering sustainable development and […] The post Fidelity
The Public Utilities Regulatory Commission (PURC) has ordered the Electricity Company of Ghana (ECG) to comply with the Cash Waterfall Mechanism (CWM) and pay all tariff revenues as prescribed and allocated under the CWM to secure the financial integrity of the energy sector. According to the PURC, the objective of the CWM is to ensure […] The post PURC bares
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