BUSINESS

Credit rating agency Moody’s Investors Service is projecting a reversal of the improving trend in Ghanaian banks’ financial metrics, with loan quality to be hit hardest, resulting from the impact of the coronavirus-induced economic disruption. In its latest 2021 outlook for banks in Africa, Moody’s is anticipating nonperforming loans (NPLs) to potentially double from 2019 levels as payment holidays expire, ...

One of Ghana’s innovative Insurance Companies, Old Mutual has launched the Black and White Family Plan, what it calls a revolutionary digital funeral policy aimed at offering a seamless solution to ease the financial burden felt by grieving families. For most Ghanaians, funeral payments are one of the big expenses in life. They create severe financial stress for families trying ...

Government has dispelled assertions that 2021 will be a difficult year for the Ghanaian economy. It follows warnings from economists for Ghanaians to brace themselves for a difficult year due to the rise in debt levels and the impact of government’s freebies to mitigate the effect of the Covid-19 pandemic. An economist and Lecturer at the University of Ghana Business ...

Wilmar Africa Limited, the manufacturers of Frytol cooking oil, Fortune and Viking rice has today launched two new brands of local rice in Ghana with the aim of supporting local rice farmers in the country. The two brands namely, Fortune Emo Pa Local Rice and Viking Emo Local Rice have been introduced to provide Ghanaians with alternatives and bring some ...

The volume of gas production for power generation is said to have increased from 85 million standard cubic feet per day to about 250 million standard cubic feet. A development believed to have helped reduce to the barest minimum the incessant power outages. Speaking to GBC’s Business News, Chief Executive of Ghana Gas, Dr Ben Asante said in the past ...

An Economist and Professor of Finance at the University of Ghana, Godfred Alufar Bokpin has clarified reports of him declaring Ghana a heavily Indebted Poor Country (HIPC). Reports were rife Ghana had been listed by the World Bank in the Category of the Heavily Indebted Poor Countries on its website. However, the development has been attributed to the decision the ...

Economist Professor John Gatsi says Ghana’s ballooning debt ratio should be blamed on government’s desire to please voters as elections beckons and not on COVID-19. According to him, next year will be a difficult year for Ghanaians as the reality of the overspending by government will set in. “I think from the side of citizens, they have to accept the ...

As widely expected Ghana’s public debt has now passed the generally accepted sustainability threshold of 70 percent of Gross Domestic Product, the GHc273.8 billion in total debt by the end of September translating to 71.0 percent of GDP. This is up from GHc209.1 million a year previously by which time the debt to GDP ratio at 59.8 percent was still ...

Ghana’s debts reached an all-time high in September this year on the back of increased borrowing to make up for shortfalls in revenues and fund rising expenditures. Data from the Bank of Ghana (BoG) showed that the public debt stock stood at GH¢273.8 billion in September this year, the highest since the bank started releasing data on how much the ...

An economist and Lecturer at the University of Ghana Business School, Dr Lord Mensah, has called on Ghanaians to prepare and expect a tough 2021 and beyond. Speaking on the Morning Starr on Monday, Dr Mensah said most of the freebies being enjoyed by Ghanaians now will not be available adding that the only way the government can shore up ...