BUSINESS NEWS

The year-on-year rate of inflation for January 2023 was 53.6%, latest figures from the Ghana Statistical Service (GSS) have shown. This means that in the month of January 2023 the general level of prices was 53.6% higher than in January 2022.   This is a 0.5 percentage-point drop relative to …

The International Monetary Fund (IMF) has appointed a Resident Advisor to the Bank of Ghana (BoG) to oversee financial sector supervision in the country. The fund appointed Leonard Chumo, an Irish and Kenyan, to the central bank this month to provide technical assistance and help build the capacity of the …

The government has assured all individual bondholders, especially senior citizens, that their coupon payments and maturing principals, like all Government bonds, will be honoured in line with Government’s Fiscal commitments. This comes after the Government’s Domestic Debt Exchange Program (DDEP) closed on Friday 10th February 2023 with over 80% participation …

An Accra Magistrate Court has ordered ten (10) Yam sellers at the Agbogbloshie market to sign a bond to be of good behaviour and not to display their goods for sale in any pathway or avenue of a market. They are Frank Telekpon, Marboriwe Ntekellama, Awiase Mmolebe, Wisdom Bindiche, Ebenezer …

The Director of Communications of the New Patriotic Party, Richard Ahiagbah is baffled as to why former Chief Justice Sophia Akuffo found it necessary to protest against government’s proposed Domestic Debt Exchange Programme (DDEP). To him, as far as government is not imposing the programme on anyone, the former CJ …

Former Chief Justice, Sophia Abena Boafoa Akuffo has joined pensioners picketing the Finance Ministry to demand a total exemption of their investments in the controversial Domestic Debt Exchange Programme (DDEP). Mrs Akuffo was seen holding a placard with the inscription ‘We depend our bond yields to pay our rent, medical …

Oil prices jumped more than 2% on Friday, heading for weekly gains, as Russia announced plans to reduce oil production next month after the West imposed price caps on the country’s oil and oil products. Brent crude futures rose US$2.17, or 2.57%, to US$86.67 a barrel by 0900 GMT. U.S. …

Airline passengers travelling to Ghana will no longer be required to fill out landing forms from March 31 this year. Disclosing the innovation in a Facebook post on Friday, Vice President Dr Mahamudu Bawumia explained that it “is because the same information can be obtained electronically.” “Furthermore, the Ministry of …

A well-known businessman who also doubles as poultry farmer, Ernest Adomako, popularly known as KEON has chided government for its neglect Ghana’s poultry industry. According to KEON, the poultry industry holds the potential of augmenting Ghana’s quest of stabilizing the cedi as well as creating employment for the teeming unemployed …

The National Petroleum Authority (NPA) has revealed that the initial 40,000 tonnes of diesel that arrived in January under the Gold-for-oil policy were valued at US$40 million. The clarification by the NPA comes after several calls by industry experts including the Institute of Energy Securities for the government to provide …