Banks begin scrapping 3% FX cash withdrawal charge
Some commercial banks in Ghana have begun reversing the controversial 3 percent charge on foreign exchange (FX) cash withdrawals as a relief for customers who have long opposed the levy. Fidelity Bank is among the first to officially scrap the fee. The bank announced that effective Monday, November 10, 2025, it has removed the 3 […]
Bank of Ghana introduces new FX operations framework
The Bank of Ghana (BoG) has rolled out a new Foreign Exchange (FX) Operations Framework aimed at enhancing transparency, strengthening market confidence, and ensuring stability within the country’s foreign exchange market. The new framework, approved by the BoG Board, marks a major policy shift designed to clarify the objectives, principles, and operational processes guiding the […]
2026 Budget: Ato Forson scraps COVID-19 levy, announces major VAT reforms
Finance Minister Dr Cassiel Ato Forson has officially abolished the COVID-19 levy as part of the 2026 Budget, aimed at boosting household income, supporting businesses, and driving economic transformation. Presenting the budget on Thursday, November 13, under the theme “Resetting for Growth, Jobs, and Economic Transformation,” Dr. Forson announced a series of VAT reforms designed […]
Ghana Fixed Income Market rebounds to pre-DDEP levels, surpasses GH¢1 trillion
The volume of securities traded on the Ghana Fixed Income Market (GFIM) has surpassed GH¢1 trillion since its inception, underscoring the market’s critical role in deepening Ghana’s capital market and financing economic growth. Managing Director of the Ghana Stock Exchange (GSE), Abena Amoah, announced the milestone at the media launch of the GFIM’s 10th Anniversary […]
Ghana Reference Rate for November increases marginally to 17.93%
The Ghana Reference Rate (GRR), a key benchmark for determining interest rates by commercial banks, has gone up slightly for November 2025. Data from the Ghana Association of Banks shows the rate increased from 17.86% in October to 17.93% in November 2025. Sources close to the Association told JoyBusiness that the rise was influenced by marginal increases […]
GRA targets eight million new taxpayers to boost domestic revenue
The Ghana Revenue Authority (GRA) is embarking on an ambitious plan to bring eight million new taxpayers into the national tax net as part of a major drive to widen the country’s revenue base and strengthen domestic mobilisation efforts The initiative aims to expand Ghana’s current taxpayer population estimated at 19 million through two flagship […]
FABAG: Escalating crisis of smuggling is causing Ghana to lose billions of cedis
The Food and Beverages Association of Ghana (FABAG) has issued an urgent public appeal to the government, warning that the escalating crisis of smuggling across Ghana’s borders is causing the nation to lose billions of cedis in revenue each month. In a strongly worded statement, FABAG drew attention to the “alarming levels” of illicit trade, […]
SSNIT seeks partnership to revamp some hotel investments
The Social Security and National Insurance Trust (SSNIT) is seeking a partnership to revamp its hotel investments in Elmina and some parts of the country. This partnership is to support a turnaround of these investments without necessarily outright sales. The Director General of SSNIT, Kwesi Afreh Biney disclosed this to Journalists after an engagement as […]
BoG confident Inflation will drop further by year-end as Cedi strengthens
The Bank of Ghana (BoG) says it expects inflation to decline even further by the end of 2025, following months of sustained disinflation supported by a stronger cedi and disciplined policy management. Governor, Dr. Johnson Asiama, speaking at the launch of the Cedi@60 celebrations in Accra said headline inflation has dropped sharply to 9.4% as […]
Ghana Association of Banks clarifies role in import declaration form process
The Ghana Association of Banks (GAB) has clarified that commercial banks in the country do not generate or issue Import Declaration Forms (IDFs). The explanation follows recent media reports suggesting irregularities in the process. In a statement, the Association said the IDF is a Customs document created and managed by the Ghana Revenue Authority (GRA) […]