BUSINESS NEWS

Pressure on the Ghana cedi continues to surge after some sterling performance two weeks ago, making it the world’s top-performing currency during the period. The local currency lost about 9% in value last week to the US dollar in the retail market to reverse the previous week’s gains. It traded …

Ghana’s President Akufo-Addo has emphasised that the bailout secured from the International Monetary Fund (IMF) will not be an instant panacea for the country’s difficulties. He believes it will, nonetheless, play a crucial role in restoring confidence and reopening opportunities that have been limited in recent years. During a national …

President Nana Akufo-Addo on Friday, May 27 commissioned the €85-million Elmina Fishing Port rehabilitation and expansion project in the historic city of Elmina in the Komenda-Edina-Eguafo-Abrem (KEEA) Municipality of the Central Region. The construction of the biggest fishing harbour in the region, which was completed in 30-months, has a docking …

The Board Chairman of the Ghana National Petroleum Corporation (GNPC) Freddie Blay has threatened to take legal action against some 29 CSOs calling for his resignation over a decision to sell a 50% stake in Jubilee Holdings Limited (JOHL) to PetroSA. In a statement, Mr Blay also described the call …

I have sighted your (Joy FM) article where you quote the IMF as saying that, “China will have access to Ghana’s mineral revenue, electricity sales in default of 4 loans.” The attribution to the IMF comes from the recently released IMF Country Report No. 23/168, dated May 2023, which details …

The Economic and Organised Crime Office (EOCO) has denied putting out any advertisement for recruitment. According to EOCO, all recruitment offers into the office that are being peddled online are fake and “EOCO shall not be responsible or liable in any way for claims, losses or liabilities.” It further stressed …

The Judicial Service Staff Association of Ghana (JUSAG) has declared an indefinite strike over government’s failure to approve reviewed salaries and other allowances of its members. JUSAG in a statement accused the government of consistent dishonesty in attending to the conditions of service and other emoluments owed its members. The …

The President of the 4th Republic, H.E  Nana Akufo-Addo says Ghana will soon return to the International Capital Market. Mr. Akufo-Addo said this will enable his government to get the needed funding to execute its mandate. According to him, the shutting of the capital market to the country has been …

Some 29 Civil Society Organisations (CSOs) are demanding the immediate removal of the Board Chairman of the Ghana National Petroleum Corporation (GNPC), Freddie Blay and the acting Chief Executive Officer, Opoku Ahweneeh Danquah.   The CSOs, made up of the Africa Centre for Energy Policy (ACEP), Centre for Democratic Development …

The International Monetary Fund (IMF), has revealed details about how Ghana’s four collateralized loans from China have exposed the country to losing parts of its mineral resource revenue in addition to electricity sales. For Ghana, Chinese loans have been a reliable funding source four major projects since the year 2000. …