Forex licences of Fidelity Bank, First National Bank temporarily suspended
The forex licenses of Fidelity Bank Ghana Limited and First National Bank Ghana Limited have been suspended temporarily. This is because, the two financial institutions have breached some sections of the Ghana Interbank Forex Market Conduct rules, according to the Bank of Ghana (BoG). The Central Bank which meted out the sanction has also fined […]
GIPC urges investors to be optimistic about Ghana’s economy
The Deputy Chief Executive Officer of Ghana Investment Promotion Centre, Yaw Amoateng Afriyie, has urged businesses and investors to have hope that Ghana’s economy will rebound. He stated, government has initiated steps to ensure the current economic crisis is resolved. According to him, the political environment and peace in the country should still attract the […]
Independent Power Producers notify Finance Ministry to cut power supply by July 1, 2023
The Independent Power Producers (IPPs) have reminded Finance Minister, Ken Ofori-Atta, of their intention to cut power supply to the national grid from July 1, 2023. This was after an emergency meeting held on Tuesday, June 20, 2023. According to the Chamber of Independent Power Producers, calls on the government to pay the IPPs an […]
Afreximbank to establish African Quality Assurance Centres across Africa
As part of moves to strengthen intra African trade and ensure that goods and services exchanged on the continent meet global standards, the African Export and Import Bank (Afreximbank), in collaboration with key stakeholders is rolling out African Quality Assurance Centres. The centres when fully activated will not only boost trade within the African Continent […]
GDP grows 4.2% in Q1 2023
The economy grew 4.2 percent in the first quarter of 2023 – January to March – compared to 3.0 in the same period of 2022, according to provisional estimates released by the Ghana Statistical Service (GSS). This growth was driven by the services and agriculture sectors, which recorded growth rates of 10.1 percent and 4.8 […]
Industry experts share strategies for business success in challenging times
Emergent Payments, a leading Fintech that offers an enhanced, licenced digital platform, has held a highly anticipated panel discussion marking the Fintech Connect Programme’s maiden edition. The event, held under the theme ‘Leveraging Technology to Improve Business in Challenging Times’, brought together industry professionals and business owners to explore the transformative potential of technology in driving […]
We will amend SSNIT Act to collect contributions from workers’ total remuneration – SSNIT boss
Director General of the Social Security and National Insurance Trust (SSNIT), Dr. John Ofori Tenkorang, says his outfit is proposing an amendment to its Act to increase deductions made from workers’ salary as part of their Pension contributions. According to him, the current system which only allows those deductions to be made from the basic […]
Ghana’s economy showing signs of recovery- IMF Staff Mission
The International Monetary Fund (IMF) has indicated that Ghana’s economy is showing signs of recovery after it secured the Fund-Supported programme approved on May 17, 2023. This was captured in a statement issued by the IMF after its Staff Mission led by Stephane Roudet, visited Ghana from June 8 to June 15, 2023. The visit, […]
Monetary policy tightening in US, others poses challenges to emerging markets – World Bank
The swift tightening of monetary policy in advanced economies, especially the United States, in response to high inflation poses grave challenges to emerging markets and developing economies (EMDEs) such as Ghana. According to the World Bank, the tightening of financial conditions in the United States and the associated increase in risk aversion spill over to […]
Telcos, BoG to collaborate to retrieve locked funds on MoMo accounts – Ursula
The Minister of Communications and Digitalisation, Ursula Owusu-Ekuful, has announced that Mobile Network Operators (MNOs) are working with the Bank of Ghana to facilitate the retrieval of funds for individuals whose monies are locked up in mobile money accounts. Numerous subscribers have voiced their concerns regarding the inability to access their funds on mobile money […]