BUSINESS NEWS

Ghana was ranked 12th out of 54 countries in the 2020 Africa Infrastructure Index Report conducted by the African Development Bank. The nation was also the 2nd best performing country in West Africa behind Cape Verde. Ghana’s ranking improved from a score of 28.8% in 2018 to 30.12%.  However, this …

Vice President Dr Mahamudu Bawumia has touted the government’s achievement in managing the cedi against foreign currencies. According to him, despite the ravaging effects of the Covid-19 pandemic, the cedi under the Akufo-Addo government has recorded the lowest depreciation ever in the Fourth Republic. Speaking at the Industrial and Commercial …

Out of 15 top currencies on the African continent tracked by Joy Business, the Ghana cedi is presently placed 7th in terms of league of best performing currencies, despite the recent pressures on the local currency. It is performing better than the South African rand (-8.07%), the Nigerian naira (-7.37%) …

The Ghana cedi is now trading above 6 cedis as demand for the American ‘greenback’ continues to surge. Data from Reuters and Databank Research indicates that a dollar is going for more than ¢6. Also, the forex bureaux are selling the local currency between ¢6.1 and ¢6.14 to a dollar. …

Government has given a firm assurance that it will not default in its debt obligations despite the rising level of same.   The Deputy Minister of Finance explained that funds are being invested in some productive sectors and projects that will help pay back these loans on time.   Dr …

President Nana Akufo-Addo has appointed Ghana’s former Ambassador to China, Edward Boateng as Managing Director of the Tema Oil Refinary (TOR). Mr. Boateng is expected to spearhead the transformation of the company.     Edward Boateng who served as Ambassador from 2017 to 2020, takes office at the Tema Oil …

Commodity analyst, Esoko Ghana, expects prices of foodstuff to decline in Ghana soon. Some Ghanaians have been complaining about the upsurge in the prices of foodstuff across the country. Content Manager of Esoko Ghana, Francis Danso-Adjei, in a Citi News interview said “These hikes occur in certain periods of the …

The Minister of Finance, Mr Ken Ofori-Atta, will today lay before Parliament, the 2021 mid-year budget review for its consideration and adoption. The budget review, which is in accordance with Article 179 of the 1992 Constitution and the Public Financial Management Act 921, will give the fiscal authority an opportunity …

Ghana’s total public debt stock has increased once again according to new data released by the Bank of Ghana. The debt stock which ended the first quarter of 2021 at GH¢ 304.6 billion, increased by almost GH¢ 30 billion in April and May.     This saw Ghana’s total public …

The Commercial Division of an Accra High Court On Thursday 15, July 2021, presided over by Justice Shiela Mintaordered Health Network Company (Healthnet) to pay GHS174 million to the Ghana Growth Fund Company/Gold Coast Advisors, a Groupe Nduom Company. The High Court also awarded cost of GHS50,000 to the lawyer …