Local businesses get major boost to access EU market with UK bank account
-Tranzfar introduces Freedom Bank Account Local businesses have been offered a major boost to access the European Union (EU) markets with a United Kingdom (UK) bank account from Ghana to eliminate the long-existing mode of transaction challenges. Businesses and individuals over the years have struggled with their ability to send money to Europe and the […]
We only financed government in 2020 and 2022 with ¢10bn, ¢37.9bn – BoG
The Bank of Ghana says it only financed the government in 2020 and 2022 when the economy was hit by external and internal shocks. According to the Central Bank, it provided ¢10 billion in support to the government in 2022 due to the Covid-19 pandemic. In this regard, it launched the Covid-19 Pandemic Bond on […]
GSS to conduct census of formal and informal businesses
To enhance decision-making for businesses to thrive, the Ghana Statistical Service (GSS) has announced that it will conduct a comprehensive census of informal and formal businesses across the country. The exercise according to the Service will be conducted in two phases with the initial one to be held in mid-October 2023 and the second phase […]
Tame inflation, GHS 60billion loss not excuse to shirk policy mandates – IMF tells BoG
The International Monetary Fund (IMF) has cautioned the Bank of Ghana against not fulfilling its policy mandate in the face of the loss it posted for the financial year ending 2022. According to the IMF, the Central Bank must despite the impairment ensure that inflation returns to the target of 8 percent. “The loss the […]
ICAG Post 2023 Mid-Year Budget: Accountants urged to uphold PFM Law to help reduce government debt
The Chief Director at the Ministry of Finance, Eva Mends, is urging all accountants in the public sector to uphold the Public Financial Management Law to help reduce government debt. According to her, sanctions enshrined in the PFM Act should be meted to those who breached the law. As part of fiscal measures to reduce […]
BoG’s current financial position will not affect monetary policy operations – IMF
The International Monetary Fund (IMF) jumped to the Bank of Ghana (BoG)’s defence insisting the regulator’s current financial position will not affect monetary policy operations. IMF has maintained that the Bank of Ghana’s current financial position will not affect monetary policy operations and mandate. This was captured in an update issued by the IMF on […]
Businesses urged to unlock potential with Data & AI technologies
Running a business is no longer tedious with the advent of digital tools and Artificial Intelligence (AI). These emerging technologies are enabling entrepreneurs and new business ventures to gain a competitive advantage. That’s why players in the space want companies to use these platforms to increase productivity and customer satisfaction. At a Data and AI […]
Ghana seeks $2.5bn in external financing through debt restructuring
The Chief Executive Officer (CEO) of the Ghana Investment Promotion Center (GIPC), Yofi Grant, has revealed that Ghana is set to undergo external debt restructuring, which is expected to provide financing of approximately $2.5 billion in the coming days. The announcement was made as the GIPC indicated that negotiations with key partners are nearing a […]
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 […]
Afriyie Akoto secures big tractor deal for Ghana
A flagbearer hopeful of the governing New Patriotic Party (NPP), Dr Owusu Afriyie Akoto, has secured a tractor manufacturing plant deal for Ghana to boost mechanized farming and growth in the agric sector. The deal is also expected to benefit other countries in the West African sub-region. This follows extensive discussions between Dr Akoto, Ghana’s […]