The Chief Executive Officer of the National Communications Authority (NCA) Joe Anokye has announced that the MTN Zone bundle will soon be back. This was after telecom operator MTN submitted a revised data zone bundle which meets the regulatory requirement, Mr Anokye said. MTN announced the suspension of the Zone Bundle on Wednesday, April 05, 2023. A statement issued said ...
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Banks begin releasing 2022 financial statements; DDEP pushes many into losses
Banks in the country have begun releasing their 2022 Financial Statement ahead of the April 30, 2023 deadline by the Bank of Ghana. But the Domestic Debt Exchange Programme (DDEP) has impacted negatively on their profitability position. According to the 2022 Audited Financial Statements sighted by Joy Business, almost all the banks that have published their statements recorded losses. Standard ...
Read More »NPP govt is pushing a chunk of Ghana’s debt to a future administration – Hosi
Businessman Senyo Hosi says the Akufo-Addo administration is pushing a chunk of Ghana’s financial liabilities to a future government through the new Domestic Debt Exchange Programme (DDEP) that has been presented to labour. Speaking on the Business Focus with Paa Kwasi Asare on TV3 Monday April 17, he said “You actually have a government now who is deffering a lot ...
Read More »‘Instead of recognising mismanagement, he is blaming creditors for Ghana’s debt burden’ – Hanke criticises Ofori-Atta
Renowned US Professor of Economics, Steve Hanke has chastised Finance Minister Ken Ofori-Atta for mismanaging the Ghanaian economy. Professor Hanke who is a hard critic of Ghanaian authorities in a tweet was surprised about Mr Ofori-Atta’s position that he’s disappointed foreign lenders have been slow to act in supporting Ghana’s quest to get a programme from the International Monetary Fund. ...
Read More »Gamey criticises Ofori-Atta’s approach to new debt restructuring
Former Deputy Employment Minister Austin Akufo Gamey says the approach the Minister of Finance, Kenneth Nana Yaw Ofori-Atta, and the government, by extension, are using to implement the new debt restructuring programme “is not good enough”. “If I were the Minister of Finance, my approach will be 100 percent different from what they are doing now,” he said on Midday ...
Read More »2022: Newmont pays ₵2.76bn to Ghana gov’t in taxes, royalty, carried interest
Mining giant Newmont made a total payment of GHS2.76 billion to the government of Ghana for the full-year 2022. The amount includes corporate tax (GHS1.530.9 million), mineral royalty (GHS548.3 million), and carried interest (GHS222.1 million). The rest include PAYE (GHS261.3 million), withholding tax (GHS164.5 million) and forestry levy (GHS35.5 million). Newmont, in an advertorial, said: “During the fourth quarter of ...
Read More »Energy Minister pitches strongly for Ghana in Barcelona; iterates natural gas as the country’s transition fuel
Energy Minister Dr. Matthew Opoku Prempeh has asked investors and decision-makers gathered at the North Africa and Europe Energy Exhibition and Conference (NAEPEC) to explore several opportunities in Ghana’s energy sector for the mutual benefit of both Ghana and the investors. Speaking as a keynote speaker on the topic: “Ghana’s current Energy Sector initiatives, the global energy transition, and opportunities available in ...
Read More »T-bills auction: Interest rates fall to 19%; government gets ¢4.20bn
Interest rates remarkably fell significantly within just a week, following the government’s decision to reject bids with higher yields. According to the latest auction by the Bank of Ghana, the 91-day yield fell once again to 19.04% from 24.16% last week. From a high of 35% a week ago, interest rates on the short term securities have dipped significantly on ...
Read More »Gov’t exceeds Treasury Bills target by some 33 percent
The government exceeded its Treasury Bills (T-Bills) target by some 33 percent, recording GHS3.2 billion in the latest treasury auction. The auction results showed that the government got extra GHS800,000 although it had targeted to raise about GHS2.4 billion to refinance treasury bill maturities. LEARN AND TRADE FOREX WITH GOLIGFX WATCH THE VIDEO BELOW: The majority of the bids came ...
Read More »T-bills yields record huge fall as gov’t correct anomalies
Treasury bills witnessed another high patronage even as government measures to correct interest rate anomalies pushed the yields significantly lower from the 35 percent levels. Yields on the 91-day bill ticked lower by more than 1,000 basis points to 24.1% from a week earlier, according to the auction results by the Bank of Ghana. The 182-day fell by 850 bps ...
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