BUSINESS

The government raised ¢15.32 billion in Treasury bills in November 2023, across the 91 to 364-day bills to cover matured bills worth ¢10.60 billion . This is a 17.0% increase over the month of October 2023. Notably, the 364-day bill attracted significant investor interest with aggregate bids reaching ¢2.72 billion. However, the T-bill yields registered an average decline of 0.05%, ...

Bank of Ghana Governor Ernest Addison has said the central bank deserves an “applause” for being resilient enough to support the economy during the 2022 crisis. Speaking at the Chartered Institute of Bankers’ Governor’s Day, Dr Addison said the role of the central bank in ensuring the economy did not buckle under the weight of the crisis weas commendable. Central ...

Spokesperson of Former President John Dramani Mahama, Joyce Bawah Mogtari has said that Ghana deserves better in the Lithium agreement that has been signed. The private legal practitioner stated that after reviewing the agreement, many believe it is unfairly skewed against Ghana. “Thank you, retired Chief Justice Sophia Akuffo, for the very nationalistic and futuristic commentary on the Lithium Mining ...

Independent power producer, Sunon Asogli Power (Ghana) Limited, has said it has suspended for one more week the decision to shut down its plant. The company on Monday evening announced an indefinite shut down of its 560 Megawatts power plant due to the outstanding debt owed it by the Electricity Company of Ghana (ECG). A statement issued on Monday, December ...

The Institute of Economic Affairs (IEA) has raised issues with the lithium mining agreement signed on 20 October 2023 between the Government of the Republic of Ghana and Barari DV Ghana Limited. Per the deal, a swathe of land was leased to the company at Ewoyaa in the Mfantsiman Municipality in the Central region and granted rights to mine lithium ...

Former Chief Justice (CJ) Sophia Akuffo has asserted that the lithium lease recently signed by the government is incomplete without parliamentary ratification. Speaking as a Distinguished Scholar of the Institute of Economic Affairs (IEA) in Accra, Justice Akuffo emphasised that in her legal view, this transaction should have been sent to Parliament for approval. Expressing her perspective, she stated, “My ...

Credit to the private sector contracted in October 2023 and September 2023. According to the Monetary Policy Report of the Bank of Ghana, banks continue to deploy their resources towards short-term investments as opposed to extension of credit. This is in response to the increased risks associated with lending following the deteriorating macroeconomic conditions and the impact of the Domestic ...

There is a need for authorities to re-examine the options available on the table relative to the move to get private companies that can help revive the Tema Oil Refinery (TOR), the Executive Director of the Africa Center for Energy Policy (ACEP), Benjamin Boakye, has said. Mr Boakye said that there are credible entities that can be engaged to ensure ...

Aggrieved Customers of Gold Coast Fund Management are set to picket the Ministry of Finance from today, Tuesday, 28 November to Wednesday, 29 November 2023 to demand their locked-up funds. They reiterated to Finance Minister Ken Ofori-Atta, after the presentationof the 2024 budget on Wednesday, 15 November 2023, “to immediately pay our locked-up funds” rather than “attempt to deceive and ...

Ecobank and the African Guarantee Fund (AGF), a specialised pan-African guarantee provider, have joined forces in a groundbreaking USD200 million risk-sharing agreement, aimed at catalysing economic growth and supporting entrepreneurial ventures – including women-owned SMEs on the continent. The two organisations signed a strategic partnership agreement today on the sidelines of the Africa Financial Industry Summit (AFIS) in Lomé, Togo, ...