BUSINESS NEWS

The Minister of State at the Finance Ministry, Dr Mohammed Amin Adam has revealed what the first tranche of money received from the International Monetary Fund (IMF) will be used for. According to him, part of the money will be used to support the government’s policies and programmes approved by …

The National Communications Authority (NCA) says it is working with internet service provider, Surfline, to ensure that consumers’ interests in relation to data services are protected. The NCA in a press statement dated Thursday, May 18, 2023, said the authority was aware of Surfline’s operations and service outage as well …

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 …