Executive Director of the African Centre for Energy Policy (ACEP) Benjamin Boakye has observed that the award of large-scale contracts by the government presents a huge change to the country when it comes to corruption. He explained that sole-sourced contracts make it difficult to track efficiency in government spending and also value for money. Those […] The post Sole sourcing large
The Director of Research at the Institute of Economic Affairs (IEA), Dr John Kwakye, is wondering how the commercial banks are going to break even and increase lending to the private sector vis-a-vis the Bank of Ghana’s higher cash reserve requirement for commercial banks. To him, the higher cash reserve requirement for commercial banks. counterproductive […] The post How
Ghana’s second programme review with the International Monetary Fund (IMF) has entered its second week, with issues concerning tax efficiency and the avoidance of fiscal slippages in this election year dominating discussions. The IMF mission staff from Washington DC are currently in the country for a two-week assessment of the bailout package. The review also […] The post Election
Insurance Technology companies must develop innovative solutions to help address the challenges hampering insurance services delivery to expand insurance penetration and coverage, Acting Commissioner of Insurance, Mr Michael K. Andoh has stated. According to him, the difficulty in acquiring Police and Doctor’s report to claim insurance, accessing some remote parts of the country, affected insurance … The post ‘Develop
The Bank of Ghana (BoG) has explained how money laundering is done and the consequences of engaging in such illegal acts. In its Financial Literacy document, the Central Bank explained that money laundering is the process whereby money obtained from unlawful activities such as drug trafficking and corruption is legitimized through complex transactions and processes […] The post Sudden
Ghana does not need the Special Drawing Rights (SDR) of the International Monetary Fund (IMF) for economic growth, an economist Dr John Kwakye has said. In the view of the Director of Research at the Institute of Economic Affairs (IEA), Ghana can develop by relying on its natural resource wealth. “We don’t need any SDRs […] The post Economist
When a person provides his or her legitimately or illegitimately acquired funds or assets for terrorist activities or organizations the person will be financing terrorism, the Bank of Ghana (BoG) has said. The central bank said financing of terrorism is a crime and is punishable by law therefore people should be careful they do not […] The post Becareful you do not
A fiscal report authored by Banking Consultant Dr Richmond Atuahene and Data and Research Analyst Isaac Kofi Agyei has painted a grim picture of Ghana’s banking sector, attributing it to the excessive subscription of government bonds. Titled ‘Thirsty Banks: Ghana’s 2023 Challenge with High Cash Reserve Ratios,’ the report highlights the prolonged maturity period of […] The post Many
Star Assurance Group, the parent company of Star Assurance, StarLife Assurance, StarMicroinsurance, StarHealth Insurance and Pensol Capital Trust, has appointed Samuel Kweku Ocran as its Group Chief Executive Officer. He takes over the leadership role from Mr. Kofi Duffuor, the former Chief Executive Officer, who has served the Star Assurance Group and its subsidiaries for […] The post
Joseph Boahen Aidoo A 64 Kilogram bag of cocoa has been increased from GH¢1,308 to GH¢2,070 for the 2023/2024 crop year starting from Friday, April 5, 2024. In a Read More... The post Cocoa Price Now GH¢2,070 appeared first on DailyGuide
Credit to the private sector by banks will continue to squeeze due to the Bank of Ghana’s high Credit Reserve Ratios (CRR). This is one of the key findings and conclusion of a research paper by banking consultant, Dr. Richmond Atuahene and data and research analyst, Isaac Kofi Agyei. The report titled ‘Thirsty Banks: Ghana’s […] The post BoG’s
A 27-year-old man, Masaudu Fuseini was on Thursday, April 28, 2024, remanded into prison custody for allegedly stealing cables belonging to the Electricity Company of Ghana Limited (ECG). A Koforidua Circuit Court, presided over by Miss Asare Anima, ordered Fuseini to replace the stolen cables, valued over GH¢9,000 and show proof of replacement on his second […] The post Man, 27, remanded for
Telecel and Huawei leadership teams after signing the contract At the recently held Mobile World Congress (MWC) in Barcelona, Telecel Ghana and Huawei Ghana signed a new framework contract Read More... The post Telecel, Huawei Sign New Framework Contract appeared
By Juliet Aguiar DUGBARTEY, Anaji Eighty-one students from Queenscraft Vocational Institute in Takoradi have successfully graduated in various disciplines and received National Vocational Training Institute (NVTI) certificates. These disciplines include Hospitality and Catering Management, Event Planning and Decoration, Pastry and Cooking, as well as Modern Cakes and Decoration. Additionally, they have undergone training in core […] The post
A fiscal report authored by Banking Consultant Dr Richmond Atuahene and Data and Research Analyst Isaac Kofi Agyei has painted a grim picture of Ghana’s banking sector, attributing it to the new Cash Reserve Ratio by the Bank of Ghana. Titled ‘Thirsty Banks: Ghana’s 2023 Challenge with High Cash Reserve Ratios,’ the report highlights the […] The post Many
The team with the award Fidelity Bank Ghana has been recognised for its steadfast commitment to gender equality. The bank secured a coveted spot among the top 50 employers Read More... The post Fidelity Bank Gets Gender Equality Recognition appeared first
By Rashidatu IBRAHIM An economist and advisor on South-South Cooperation and Development Finance at the South Centre, a Geneva-based intergovernmental organisation, Yuefen Li, has urged African countries to enforce regulations that require multinational corporations to contribute a greater share of taxes for their operations within these nations. She noted that implementing such measures would serve […] The post
The Bank of Ghana has urged the public to volunteer information on suspected cases of money laundering and unexplained wealth. This is to combat financial crimes, sanitize the industry and uphold the integrity of the country’s financial system. The Central Bank stressed collaborative efforts in identifying and addressing illicit financial activities that pose a threat […] The post Volunteer
The Alliance for Social Equity and Public Accountability (ASEPA) has called on the Tema Oil Refinery (TOR) and the Sentuo Oil Refinery to make public the specifics of their relationship. This request comes in the wake of the alleged sale of TOR to Sentuo Oil Refinery. On Monday, April 8, ASEPA’s Executive Director, Mensah Thompson, […] The post ASEPA demands clarity
Governor of the Bank of Ghana (BoG), Dr Ernest Addison, has revealed that the central bank intends to hand over the Gold for Oil programme to a commercial bank to operate. This, he said, would allow for the BoG to focus on its core mandate. Asked by Buem lawmaker Kofi Adams whether this programme is […] The post Bank of Ghana seeking to hand over Gold for
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