GSE market cap crosses GH¢80bn
The Ghana Stock Exchange (GSE) has exceeded the GH¢80billion mark in market capitalisation for the first time, concluding April 2024 at GH¢80.32 billion. The surge in market capitalisation reflects increased trading activity. On the final day of April, the GSE saw some 29,700 shares traded, representing a market value of approximately GH¢180,800. This translates to […]
Glovo to cease operations in Ghana
Glovo, a prominent food delivery platform, has announced its decision to end operations in Ghana on May 10, 2024, despite significant investment in the last two years to expand its services. The company conveyed this development to its network of restaurant partners via email, attributing its decision to profitability issues encountered within the Ghanaian market. […]
Ghana’s economy: GIPC reaffirms commitment to attract foreign investment
The Ghanaian government has reiterated its commitment to creating a favorable investment environment to attract foreign investors and boost economic development. Yoofi Grant, CEO of the Ghana Investment Promotion Center (GIPC), highlighted the crucial role played by investors in contributing to the country’s growth and emphasized the government’s openness to collaborate with foreign partners for […]
The worst is over for Ghana’s economy – IMF Mission Chief
The International Monetary Fund (IMF) Mission Chief for Ghana, Stéphane Roudet, has indicated that Ghana’s economy has seen its worst level and it’s now set for full recovery. However, he said this projection is based on the “government continuing to implement the IMF programme the way it has been done over the past year, then […]
Sub-Saharan regional economic outlook — A tepid and pricey recovery
After four turbulent years, sub-Saharan Africa appears finally on the mend. With the easing of global financial conditions, Côte d’Ivoire, Benin, and Kenya issued Eurobonds earlier this year, ending a two year hiatus from international markets for the region. Public debt ratios have broadly stabilized, and some capital flows are making a tentative comeback. The […]
Cedi hits GH¢14.00 to a dollar; depreciates 12.08%
The Ghana cedi has hit GH¢14 to a dollar as the depreciation pressures continue unabated. This has culminated in its year-to-date loss of about 12.08% to the American greenback. Checks by Joy Business indicate that most forex bureaus are selling the dollar for GH¢14 cedis on average to the American greenback. Most analysts had anticipated […]
Your Essential Guide to Intellectual Property Rights
Intellectual Property Rights, a crucial legal framework, serve as a shield for intellectual property and intangible creations of the human mind. These include inventions, literary and artistic works, designs, and symbols used in commerce. Intellectual property rights play a pivotal role in fostering innovation and economic growth by significantly enhancing the incentive to create, invest […]
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 secures MoU on debt restructuring from bilateral creditors
Ghana has secured a Memorandum of Understanding (MoU) from the bilateral creditors on restructuring of their debts. This was after members of the official creditor committee and Ghana’s bilateral creditors managed to secure the necessary approvals from their respective countries and Parliament on the terms for restructuring Ghana’s debts as agreed earlier this year. Joy […]
March’s 25.8% rate poses no threat to disinflation trend – analyst
The recent hike in inflation in March was ‘not surprising’ and poses no significant threat to the general recent disinflationary trend, Head of Research at GBC Capital, Courage Boti, has said. Consumer inflation reached a new high of 25.8 percent in March 2024, the highest level since November of last year, according to data released […]