BUSINESS NEWS

Ghanaians seeking to enjoy a 10% reduction in transport fares may have their hopes dashed following the refusal of some drivers to bring down fares. Ghana Road Transport Coordinating Council (GRTCC) in a joint press release with the Ghana Private Road Transport Union (GPRTU) on Monday, May 15th, 2023 revealed …

After months of missed deadlines, the Nana Addo Dankwa Akufo-Addo government finally clinched the approval of the board of the International Monetary Fund (IMF) for the $3 billion bailout it started seeking in November 2022. Ghana’s 17th visit to the IMF for a ‘bailout’ has been attributed to the mismanagement …

Following the approval of the economic support programme for Ghana by the International Monetary Fund (IMF), the Central Bank Act is expected to witness some amendments as part of efforts to boost independence and address fiscal dominance. This was contained in a country report issued by the Fund on May …

Introduction: In May 17th, 2023, the Public Utilities Regulatory Commission (PURC) with government of Ghana announced an 18.36% increase in utility tariffs, which includes electricity, water. The average end-user tariff for electricity by 18.36% for the second quarter of 2023, adding on to an almost 30% increase in the first …

Governor of the Bank of Ghana (BoG) Ernest Kwamina Yedu Addison has revealed that the first tranche of $600 million from the International Monetary Fund’s $3 Billion credit facility, will hit the bank’s account on Friday, May 19, 2023. Speaking at the IMF and the Finance Ministry’s joint press conference …

The International Monetary Fund (IMF) has approved Ghana’s request for a US$3 billion bailout to support the country’s economic recovery, according to people familiar with the matter. The executive board of the International Monetary Fund met to discuss approval for the funding on Wednesday (17 May). The country is seeking …

The Public Utilities Regulatory Commission (PURC) has increased tariffs for electricity and natural gas by 18.36% across the board for all consumer groups. The decision was taken after a review for the second quarter of 2023. PURC in a statement explained that the decision was taken to balance the prevention …

The International Monetary Fund (IMF) will on Thursday, May 18 give details on the Ghana’s disbursements following a scheduled approval of the request for an extended credit facility by the country. The approval will be done on Wednesday, May 17 by the Executive Board of the Fund. In a media …

Public transport fares are to go down by 10 percent effective today, Wednesday, May 17, 2023. Road transport operators attributed the reduction to consistent marginal reductions in the price of fuel. The reduction covers shared taxis, intra-city (trotro), intercity (long distance) and haulage. Announcing the reduction in a statement, the …

Users of public transport will enjoy a 10 percent reduction in fares by 10% effective Wednesday, May 17, 2023.     This comes on the back on the drop in the price of fuel.   The road transport operators in a statement on Monday night said the reduction affects shared …