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) […]
Deputy Finance Minister rallies support for newly launched Ghana’s infrastructure Plan
Deputy Minister for Finance, Thomas Nyarko Ampem, has called on all stakeholders to rally behind the newly launched Ghana Infrastructure Plan (GIP), describing it as a defining step toward building a modern, connected, and resilient nation. Speaking at the launch of the infrastructure plan in Mr. Nyarko Ampem reaffirmed government’s commitment to ensuring that the […]
AfCFTA: Africa loses $5bn annually in foreign exchange transactions
The African Continental Free Trade Area (AfCFTA) Secretariat has revealed that Africa loses about $5 billion annually through foreign exchange transactions, a situation that continues to raise the cost of doing business across the continent. According to the Secretariat, the losses have become a major barrier to Africa’s economic growth and competitiveness. Speaking at the […]
BoG suspends forex trading license of UBA Ghana
The Bank of Ghana has announced that it has suspended the foreign exchange trading license of United Bank for Africa (UBA Ghana) effective September 18, 2025. The Bank of Ghana in a notice released earlier this evening, noted that the suspension is for a period of 1 month in accordance with section 11 (2 ) […]
COCOBOD disburses GH¢2bn as coupon payment of restructured cocoa bills
The Ghana Cocoa Board (COCOBOD) has disbursed GH¢2 billion in coupon payments to investors holding its restructured cocoa bills, now classified as bonds. The payments were made on Monday, September 1, 2025, marking a significant step in the institution’s ongoing efforts to rebuild market confidence The reclassification of cocoa bills into bonds followed the Domestic […]
Inflation drops to 11.5% in August, beating end-year target
Ghana’s headline inflation eased further to 11.5% in August 2025, down from 12.1% in July, the Ghana Statistical Service (GSS) has reported. This marks the eighth consecutive month of decline and brings inflation below the government’s end-of-year target of 11.9%, signaling stronger price stability. The August figure is the lowest recorded in almost four years. […]
BoG amends Forex rules, sets new limits for travellers and traders
The Bank of Ghana (BoG) has announced new amendments to its guidelines governing the importation and exportation of foreign currency as part of enhanced anti-money laundering measures. The notice, issued on Wednesday, August 27, 2025, under the Foreign Exchange Act, 2006 (Act 723), the Anti-Money Laundering Act, 2020 (Act 1044), and the Customs Act, 2015 […]
Gov’t to table revised GIPC Bill, 24-Hour Economy Authority framework in parliament
Government will soon lay before Parliament a revised Ghana Investment Promotion Centre (GIPC) Bill alongside a framework for establishing a 24-Hour Economy Authority, as part of efforts to boost investment inflows and expand economic activity. President John Dramani Mahama disclosed this at the Ghana–Singapore Business Dialogue, adding that he has directed the Attorney General and […]
Coca-Cola announces price rollback on 300ml beverage
The Coca-Cola Bottling Company of Ghana Limited (TCCBC) has announced a significant price rollback on its 300ml Coca-Cola beverage. This initiative is part of the company’s ongoing commitment to delivering value to consumers while refreshing Ghanaians every day. With this price adjustment, Coca-Cola is ensuring that more people can Share A Coke and enjoy the same great taste of their favourite beverage now at […]
World Bank warns COCOBOD’s mounting debts threaten Ghana’s cocoa sector
The World Bank’s latest Ghana Economic Update has raised concerns over the financial stability of the Ghana Cocoa Board (COCOBOD), warning that persistent operational and fiscal challenges could undermine one of the country’s most vital export industries. According to the report, despite record-high global cocoa prices, Ghana’s cocoa production remains weak, while COCOBOD owes significant […]