BUSINESS NEWS

GOVERNMENT HAS been able to recoup only GH¢1.7 billionout of a total of GH¢25 billion assets belonging to banks which collapsed in 2017  under the financial sector clean-up exercise embarked upon by the Central Bank. Dr. Ernest Addison, Governor of the Bank of Ghana (BoG), who disclosed this to journalists …

• The cedi traded against the dollar at a mid-rate of 5.7360 • It maintained its trade value against the pounds Sterling of 8.1391 mid-rate • Euro dropped down at a mid-rate of 6.9969 On the interbank board today, May 28, 2021, the Ghana Cedi is trading against the dollar …

Latest figures from the Bank of Ghana’s Summary of Economic and Financial Data, show that Ghana’s debt stock rose by GHS13 billion to hit GHS304.6 billion as of March 2021, representing 70.2% of Gross Domestic Product (GDP). The additional GHS13 billion debt came about between December 2020 and March 2021. …

The Ghanaian economy is on a rebound with a sustained momentum in pick-up in economic activity, Governor of the Bank of Ghana (BoG) Dr Ernest Addison, has said. He explained that the Bank’s updated Composite Index of Economic Activity (CIEA) recorded an annual growth of 13.9 percent in January 2021, …

    Ghana Youth For Development (GYFD) has urged the Ghana Police Service to arrest people who are  selling pure water at 0.30 pesewas.     Read Their Full Statement Below Press Release 22ND MARCH, 2021 Don’t Buy 30 pesewas Pure Water – GYFD to Ghanaians Is it not enough …

In spite of a court ruling that the Bank of Ghana (BoG) followed due process in revoking the licence of Unicredit the Founder of collapsed uniBank Ghana Limited, Dr Kwabena Duffuor has petitioned Parliament to investigate circumstances that led to the collapse of his bank. HODA Holdings Limited, (HODA) the …

  Minister for Parliamentary Affairs and Leader of Government Business in Parliament Osei Kyei-Mensah-Bonsu has assured Ghanaians that there is no cause for alarm in the face of the coronavirus crisis, which hit the country in March, 2020.       Delivering the 2021 budget statement and economic policy of …

The 2021 budget statement presented to parliament by leader of government business Osei Kyei-Mensah-Bonsu has pegged Ghana’s fiscal deficit at 13.7 per cent of Gross Domestic Product (GDP). This deficit, according to the budget, includes the cost of the financial sector cleanup up.     “The fiscal deficit including the …

Covid-19 Pandemic Costs Ghana GH¢ 25.3 Billion – Akufo-Add   President Akufo-Addo on Tuesday said the country lost more than GH¢13.5 billion in revenue in 2020 because of the economic shocks induced by the Covid-19 pandemic. In his state of the nation address to Parliament, the President said with additional …

Ghana’s debt will ‘plateau’ at approximately 75% of Gross Domestic Product (total value of goods and services produced in an economy within a period) from 2024, international ratings agency, Fitch, has said in its latest paper on “Energy Sector Debt a Risk to Ghana’s Post-Pandemic Debt Trajectory”. Accordingly, the debt …