BUSINESS NEWS

The Bank of Ghana is ready to begin the pilot phase for the first digital currency known as the ‘e-cedi’ by September this year. Also known as the Central Bank Digital Currency, it is expected to operate in a sandbox in the interim before introducing to the general public as …

First Deputy Governor of the Bank of Ghana (BoG), Dr. Maxwell Opoku-Afari, has said the mix of policies implemented by the central bank have helped to moderate the impact of the pandemic on the economy and contributed significantly to a faster pace of economic recovery than anticipated. He said Ghana …

The Commercial Division of the Accra High Court has dismissed an application by Power Distribution Services (PDS) challenging the cancellation of its operating licences following the termination of a concession agreement for it to manage the assets of the Electricity Company of Ghana (ECG). Last year, PDS dragged the government …

The Institute of Directors-Ghana (IoD-Gh), led by its President, Mr. Rockson Kwesi Dogbegah, on Tuesday, 22nd June 2021, paid a courtesy call on the Governor of the Bank of Ghana, Dr. Ernest Addison, and the Management of the Bank. The visit was to commend the Bank for its significant role …

    Members of the Mobile Money Agents Association of Ghana (MMAAG) have hinted of increase in service charges following an emergency meeting on Friday, June 25.   The Association had complained about back-door increase in taxes imposed on telecommunication companies by government, thereby forcing them to pass on the …

Ghana’s economic activity is recovering faster than what has been observed with its peers due to the prudent fiscal measures put in place to deal with the effect of the coronavirus pandemic, Governor of the Bank of Ghana, Dr Ernest Addison has said. He explained that the central bank responded …

Ghana Cocoa Board has sold a record ¢11.7 billion ($2 billion) of six months cocoa bills between January and May 2021 to finance cocoa purchases. The cocoa regulator normally borrows from abroad to fund cocoa beans purchases. But indications are that the 2020/21 production has exceeded target, stretching the $1.3 …

Government secured ¢1.86 billion from the sale of the 7-year bond yesterday, which replaced the maturing 5-year bond. The long term bond was marginally oversubscribed by 3.3% At the same time, the interest cost of the debt instrument went down by 6.4% to 18.10%, saving government some significant interest payment. …

Ghana has recorded a Gross Domestic Product (GDP) growth rate for the first quarter of 2021 at 3.1% The figure which includes Oil and Gas is lower than what was recorded in the same period last year which saw a growth rate of 7.0% making it the lowest first quarter …

The Social Security and National Insurance Trust (SSNIT) says it has prosecuted 5,344 defaulting employers in 2021 alone. Director-General of SSNIT, Dr John Ofori-Tenkorang made this known at a stakeholder sensitization workshop in Accra on Wednesday, June 16, 2021, on the merger of SSNIT numbers and NIA numbers of members …