BUSINESS NEWS

Ghana – once touted as a trailblazing African economic success story – is facing an unprecedented financial crisis. This week, hundreds of protestors took to the streets in the capital Accra, calling on the governor of the Bank of Ghana and his two deputies to resign over the loss of …

The International Monetary Fund (IMF) and Ghana have reached a staff-level agreement on economic policies and reforms to conclude the first review of the country’s three-year programme under the Extended Credit Facility. This agreement is subject to approval by the IMF’s Executive Board and receipt of necessary financing assurances. The …

Minority Leader of the opposition National Democratic Congress (NDC), Dr Casiel Ato Forson says protesters demanding the resignation of Bank of Ghana (BoG) Governor, Dr Ernest Yedu Addison will not stop until they meet and present their petition to him. “Governor Addison has decided to disrespect us with the excuse …

Workers of the state-owned National Investment Bank (NIB) Limited, have in an open letter appealed to the government not to liquidate the bank, saying “the current board, management team and the entire staff can turn around the bank and bring it back to previous glorious days”. They want the “Government …

The leadership of the Abossey Okai Spare Part Dealers Association has issued a two-week ultimatum to the government to reconsider its approach towards the VAT compliance policy by the Ghana Revenue Authority (GRA). The association’s ultimatum comes after the GRA released a statement on its compliance and invigilation exercise. In …

The Head of Cooperation at the European Union Delegation of Ghana, Massimo Mina, has noted that with the right tools and support, the youth can be cushioned to bring new perspectives to address old challenges. According to him, challenges such as climate change, unsustainable exploitation of natural resources, and conflict …

Ghana could be hit with fuel shortages soon following a threat by the Tanker Owners Union to halt the transportation of fuel across the country over claims some foreign nationals have taken over their business. Under the local content law and the deregulation of the petroleum sector, the haulage of …

The Minority caucus in Parliament has hit back at Finance Minister Ken Ofori-Atta for accusing the previous National Democratic Congress (NDC) administration of leaving behind a derailed International Monetary Fund (IMF) programme. In an article, Ofori-Atta said the New Patriotic Party (NPP) government in 2017 inherited a ‘derailed IMF programme …

The Ministry of Fisheries and Aquaculture Development (MOFAD) has placed a three-year moratorium on the entry of new canoe in Ghana’s marine sector. Statistics from MOFAD shows Ghana’s canoe fleet has increased from 8,000 in 1990 to over 12,000 in 2023. The moratorium is to help the government regulate the …

The government has opened fresh invitations to E.S.L.A. Plc and Daakye Trust Plc bondholders to trade their holdings for a new package under the domestic debt exchange programme. A September 13, press release from the Ministry of Finance urged holders of the domestic notes and bonds to actively and voluntarily …