Ghana risks financial obligations if it terminates SML deal – KPMG report
Audit firm KPMG says the revenue mobilization transaction between the Ghana Revenue Authority (GRA) and Strategic Mobilisation Ghana Ltd (SML) can be terminated by either party. However, the firm, in its full report on the contract, states that the termination could trigger financial implications for the Government of Ghana (GoG) and the GRA. “Upon termination, […]
Market analysts project Cedi to range between GH¢15 and GH¢16 by end of year
The woes of the Ghana cedi may be far from over as market watchers predict it could reach between 15 and 16 Ghana Cedi to the dollar by the end of the year. The forecast comes in the wake of persistent volatility of the local currency, causing concern among Ghanaians. Bloomberg, a prominent financial and […]
Govt to expand tax base and improve revenue mobilization
To boost economic growth and increase revenue mobilization, the Ghanaian government is implementing measures to improve the country’s tax-to-gross domestic product (GDP) ratio. Abena Osei Asare, the Minister of State at the Finance Ministry, has stated that while efforts to increase tax mobilization in the formal sector have been made, plans are advanced to widen […]
Ghana to get new alumina refinery as Akufo-Addo announces GIADEC’s strategic partner for Project 3A
Ghana is set to benefit from a new alumina refinery following the successful selection of a strategic partner that will work with the Ghana Integrated Aluminium Development Corporation (GIADEC) to deliver Project 3A, one of four (4) projects being executed under the Integrated Aluminium Industry (IAI) projects. President Akufo-Addo who witnessed the signing of the […]
We’ll sustain reforms driving economic recovery – BoG Governor assures
The Bank of Ghana (BoG) is prepared to continue the necessary structural reforms to revive the country’s shaky economy. It emphasizes the importance of vigilance and commitment in realigning the country’s economic situation. Following the approval of the second $600 million tranche from the International Monetary Fund (IMF), Dr. Ernest Addison, Governor of the Bank […]
JANUARY-AUGUST 2023 JANUARY-AUGUST 2022 GSE-CI YTD Change 26.22% -10.05% Value (GH¢) 474.54m 1.23bn GSE-CI 3,084.79 2,508.99 Market Capitalization (GH¢) 73.25bn 64.44bn Source:myjoyonline.com
Ban on cryptocurrency still in force – Finance Ministry warns
The government has reiterated its ban on the use of cryptocurrency in all transactions, saying that all financial institutions in the country have been directed not to engage in crypto transactions. Minister of State at the Finance Ministry, Dr. Mohammed Amin Adam, made the announcement when he answered questions on the floor of Parliament. “The […]
Ghana’s IMF programme: Paris Club, China, other creditors agree to form OCC
The Paris Club, China, India, Saudi Arabia, and Turkey have agreed to form the Official Creditor Committee (OCC) and provide financing assurances for Ghana to the International Monetary Fund as soon as possible, in order to clear the path for a Fund Executive Board approval by early May 2023. This was divulged by Finance Minister, […]
GHANA AND EU LAUNCH AGRIBUSINESS PLATFORM TO INCREASE INVESTMENTS
The European Union delegation to Ghana in partnership with the European Chamber of Commerce and the Chamber of Agribusiness Ghana has launched the Ghana-EU Agribusiness Platform in Accra. The platform will serve as a convenient space for agribusiness actors and stakeholders in Ghana and the EU to connect and exchange for wider business and partnership […]
Producer Price Inflation rises sharply — Now at 65.25% in October
THE Producer Price Inflation (PPI) which measures the average change over time in the selling prices of goods and services as received by domestic producers shot up to 65.2 per cent in October. This was up from the 45.6 per cent recorded in September and clearly signals what is to be expected of consumer inflation […]