BUSINESS

In a press conference held today, Thursday, December 7, 2023, representatives of transport operators conveyed their endorsement of the 24-hour economy policy recently announced by National Democratic Congress (NDC) flagbearer John Dramani Mahama. The commercial drivers emphasised the significance of economic policies and expressed their support for initiatives aimed at transforming the country’s economic trajectory. Addressing members of the press, ...

Institute of Fiscal Studies (IFS) has advised the government to opt for debt forgiveness considering the rate of economic growth in the country. Speaking on Morning Starr with Francis Abban, Senior Research Fellow at IFS, Dr. Said Boakye stated that the government must develop the skills to engage its creditors on the move. “It is not the only way out ...

The Government has suspended the Import Restriction Legislative Instrument (L.I) that was seeking to ban the importation of some 22 products. Minister of Information Kojo Oppong Nkrumah confirmed the suspension to journalists in Parliament on Thursday, December 7. He said the suspension would allow for further engagement with stakeholders and ensure everyone is on the same page. He emphasized the ...

The National Communications Authority (NCA) has issued a strong warning against the utilisation and sale of Starlink internet services, insisting it is operating illegally. The NCA clarified that Starlink has not been licensed, and none of its equipment has received approval for use within the country. In a statement released on Thursday, December 7, the NCA emphasised that it has ...

A group calling itself Concerned Citizens of Ghana has staged another protest at the headquarters of the Ghana Revenue Authority (GRA) in the Greater Accra Region demanding that President Akufo-Addo terminate the services of the Commissioner-General of the GRA, Rev Dr Ammishaddai Owusu-Amoah. The citizens claim that Rev Ammishaddai has exceeded his term limit. LEARN AND TRADE FOREX WITH GOLIGFX ...

Ghana has “robust and interoperable” payment systems where the country’s Real Time Gross Settlement Systems and the National Switch “continue to provide the catalytic infrastructures needed in ensuring connected payment systems”, Bank of Ghana Governor Ernest Addison has said. Speaking at the Chartered Institute of Bankers’ Governor’s Day, Dr Addison said: “We have cards, mobile money wallets and bank accounts ...

MTN Group has announced the appointment of MTN Ghana CEO Selorm Adadevoh to the new role of MTN Group, Chief Commercial Officer, taking over from Jens Schulte-Bockum, who steps down as Group Chief Operating Officer at the end of his contract term in March 2024. A statement issued by the telco said at the same time, Mr Stephen Blewett, MTN ...

Recapitalisation by banks in 2018/19 and the clean-up process from 2017 to 2019 were meant to position the banking sector to withstand shocks such as what emerged in 2020 and 2022, Bank of Ghana Governor Ernest Addison has said. According to him, the 2022 audited financial statements of banks, following the Domestic Debt Exchange Programme (DDEP), pointed to “significant” impairments ...

In addition to the improvements in the macroeconomic environment and the performance of the banking sector, the Bank of Ghana says it has also worked to strengthen the regulatory and supervisory frameworks to improve overall resilience of the financial system. Furthermore, Governor Ernest Addison says the ongoing work of the Ghana Deposit Protection Corporation and the Financial Stability Council will ...

Since the inception of the Domestic Gold Purchase Programme (DGPP), the Bank of Ghana has purchased 17.89 tons of gold, equivalent to $1.14 billion. This is more than double the level of the Central Bank’s gold reserves and well ahead of the initial target of the programme. According to the Governor of the Bank of Ghana, Dr. Ernest Addison, the ...