NEWS

A former Executive Director of the Standard Chartered Bank, Alexander Kofi-Mensah Mould, has stated that the Bank of Ghana (BoG) is reporting manufactured inter-bank exchange rates – the rate at which banks transact large ticket forex deals with each other – thereby encouraging a two tiered forex pricing mechanism in the country, in order to manipulate data. According to Mr ...

The Ghana Bondholders Forum has reaffirmed the need for government to exclude individual bondholders, including individuals and Collective Investment Schemes, who account for less than 11% of the eligible bonds. According to the Forum, with the banks onboarding the Domestic Debt Exchange (DDE) Programme, the government is set to reach its 80% target, and as such they must be exempted ...

The Ministry of Health has responded to the Auditor General’s latest report on government’s COVID-19 expenditure. In the report, the Auditor General noted that the Ministry of Health on behalf of the Government of Ghana paid an amount of $120,192,379.80 to UNICEF/AVAT for the supply of vaccines, “However, 5,109,600.00 doses of vaccines valued at $38,322,000.00 were supplied to the National ...

The Director of Advocacy at the Ghana Center for Democratic Development (CDD-Ghana), Dr. Emmanuel Kojo Asante has added his voice to calls for government to cut down on its expenses by reducing the number of its ministers and appointees. Dr. Asante said the current number of ministries with 86 ministers and deputy ministers is a huge drain on the public ...

The government has been told to at least commit 10% of the Goods and Services budget and 33% of the infrastructure budget of the education sector to basic education. Africa Education Watch (Eduwatch) said the government must do this if the country is to invest adequately to build new schools to replace the over 5,000 schools currently under trees and ...

A Vice President of Imani Africa Mr Bright Simons has said that the government has still not made any progress with insurance firms, offshore investment and individuals regarding the Domestic Debt Exchange programme despite the agreements it reached with the Ghana Association Bankers (GAB). On Monday, January 23, the Government of Ghana and the GAB reached an agreement on the new terms ...

The Minority in Parliament has hinted at more damning revelations on how the government expended COVID Funds when Parliament resumes in February. It comes on the back of revelations in the Auditor General’s Special Report on Ghana’s COVID-19 expenditure which revealed serious procurement breaches and financial misappropriation. According to the report, the Ministry of Health paid over 10 million cedis ...

The Government of Ghana and the Ghana Association of Banks (GAB) have made a headway on the terms of participation of Banks in the Domestic Debt Exchange Programme (DDEP). The new agreement includes final improvements to the terms of the programme. These include; an agreement to pay a 5% coupon for 2023 and a single coupon rate for each of ...

Former Minister of Health under the John Mahama administration, Alex Segbefia says the National Democratic Congress (NDC) feels vindicated following the findings of the Auditor General’s Report. The Auditor General’s special report on Ghana’s COVID 19 expenditure has revealed some huge payment made by the Ministry of Health. According to the report, the Ministry paid over 10 million cedis in ...

The Management of Ghana Water Company Limited has announced rationing of water supply as raw water bodies from various sources deplete due to the cut down of trees. In a statement, the Ghana Water Company Limited revealed that consumers may encounter erratic flow of water in some parts of the country, especially the Greater Accra, Ashanti, Central Western and Northern ...