Government institutes monthly stakeholder dialogue to ease doing business in Ghana
The government has instituted a new monthly stakeholder dialogue with both local and foreign businesses to fast-track the processes of doing business in Ghana more conducive. The engagement would feature a survey, which will track the progress made on the implementation of measures to ease doing business in the country, as well as ways to […]
Ghana achieves GH¢11.5bn trade surplus in Q1 2024
Ghana achieved a significant trade surplus of GH¢11.5 billion in the first quarter of 2024. This surplus comes amidst a notable 20.4% increase in the average prices of export commodities between Q1 2023 and Q1 2024. According to the latest quarterly report released by the Ghana Statistical Service (GSS), this increase signals a promising economic […]
BoG refutes claims of Ghana becoming a dual currency state
The Bank of Ghana (BoG) has responded to an article titled “Is Ghana Becoming a Dual Currency State? The Rise of Yellow Currency!” to correct some inconsistencies and misinformation. The article claimed electronic money was superseding the Ghanaian cedi for which reason strategic measures had to be taken to safeguard the use and relevance of […]
KPMG report: GRA paid SML GH¢1.4bn from 2018 to 2023
The full report by audit firm, KPMG on the contract between the Strategic Mobilisation Limited (SML) and the Ghana Revenue Authority (GRA) released by President Akufo-Addo on Wednesday, May 22 has disclosed that GRA paid SML a gross amount of GH¢1,400,202, 403.56 from 2018 to 2023. The report confirmed the GH¢1,061,054,778.00 net amount paid to […]
Lending to govt without parliamentary approval impedes capital market growth – Kofi Amable
Finance Lawyer Jonathan Sitsofe Kofi Amable has expressed concern over the absence of parliamentary approval for government borrowing through the issuance of domestic debt securities. He asserts that lending to the government through the issuance of treasury bills, bonds, and other domestic debt instruments issued to the Bank of Ghana without parliamentary approval of the […]
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, […]
Import duties are quoted in Cedis not Dollars – GRA
The Ghana Revenue Authority (GRA) has categorically refuted allegations suggesting that import duties are calculated in dollars. Eric Boateng, the president of the Automobile Dealers Union, expressed his concerns about the impact of duties, particularly those imposed in dollars, on the businesses of second-hand car importers in Ghana during an interview with Bernard Avle on […]
Producer price inflation climbs to 16.8% in April
Producer price inflation rate accelerated to 16.8 percent year-over-year in April 2024, according to the latest data from the Ghana Statistical Service. This marked a notable 1.5 percentage point increase from the 15.3 percent recorded in March 2024. On a month-over-month basis, it rose 4.1 percent between March and April. The increase in producer inflation […]
SGCC Partners with SIM.tv for a Cinematic Documentary about Ghana
The Spain-Ghana Chamber of Commerce (SGCC) is excited to announce its strategicpartnership with the acclaimed Spanish media agency SIM.tv, on the production of acinematic documentary about Ghana for CNBC Africa. The feature, Ghana CNBCAFRICA_TV 24: ‘Africa’s Golden Opportunity’ aims to promote our nation’s vastpotential in commerce, investment, and tourism for 2024 and beyond.The film will […]
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 […]