BUSINESS

MTN Zone Bundle to return soon with revised charges – NCA Boss

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 ...

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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 ...

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‘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. ...

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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 ...

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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 ...

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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 ...

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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 ...

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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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