General News
$100m needed to revitalize Ghana’s poultry sector- Poultry Farmers
Source: GNA The Ghana National Association of Poultry Farmers (GNAPF) says the industry needs a $100 million capital injection to be revitalized. According to the association, the funds will go toward the purchase of modern technology and services such as hatchery, feed production, processing, and marketing. Mr Victor Oppong Adjei, President of GNAPF, said this during […]
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ECG Board Members Reject GHC5. 8m FinevImposed By PURC
Samuel Dubik Mahama Accusations have been made against the Board Members of the Electricity Company of Ghana (ECG) by the Public Utilities Regulatory Commission (PURC) for their failure to
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Economic analysts question IMF’s Inflation projection for Ghana amid challenges
By Patience Bumbom In its Economic Outlook Report, the IMF forecasts an end-of-year inflation rate of 8 per cent for Ghana, aligning with the government’s goals outlined in the 2024 budget. The Finance Minister’s statement in the budget indicates an expected decline in inflation from 29.4 per cent in 2023 to 15 per cent in […]
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MoF, MASLOC board can’t be left off the hook in the misappropriated funds – Harry Yamson
A Public Sector Analyst Harry Yamson says the Ministry of Finance (MoF) and Board of Microfinance and Small Loans Centre (MASLOC) cannot be left off the hook in the case of misappropriated funds and financial loss caused to the state. His concerns follow the sentencing of former MASLOC Boss, Sedina Christine Tamakloe Attionu, and Daniel […]
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Newly imported train crashes into stationary truck during test run
One of the newly imported trains, a Polish manufacturer of the Diesel Multiple Unit (DMU) train designated for the Tema-Mpakadan railway route has been involved in an accident during a test run. A statement by the Ministry of Railway Development also indicated that there were no injuries sustained by the passengers.
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Stanbic holds talks with Chinese ambassador over enhanced Ghana – China Trade Ties
The Chief Executive of Stanbic Bank Ghana, Kwamina Asomaning, together with some Senior Executives of the bank recently met with the Chinese Ambassador to Ghana, H.E. Lu Kun, to promote deeper trade and investment ties between Chinese and Ghanaian businesses. During the meeting, Mr. Asomaning underscored the importance of the strategic partnership between Standard Bank, […]
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Stanbic executive calls for involvement of financial institutions in wholesale electricity market
Sydney Nii Ayitey Tetteh, Executive Vice President, Energy and Infrastructure at Stanbic Bank Ghana, has emphasized the important role of financial institutions in the soon to be implemented wholesale electricity market. He made this statement at the Electricity Market Conference held at the Volta Residence, Akuse in the Eastern Region. The Electricity Market Conference had […]
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Don’t hang onto industries you can’t maintain and run – Otumfuo to Gov’t
Asantehene, Otumfuo Osei Tutu II, has urged the government to diversify companies it cannot maintain and run efficiently. According to him, there are a number of government companies and entities that are struggling that can do well with private partnerships. He disclosed this during the commissioning of a 430-kilometre natural gas pipeline by Genser Energy […]
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MASLOC is a fraudulent setup by politicians – Richard Kumadoe
A renowned security consultant, Richard Kumadoe says the Microfinance and Small Loans Centre (MASLOC) is a fraudulent setup by politicians. This follows former Chief Executive Officer (CEO) of the MASLOC, Sedina Christine Tamakloe Attionu, and interdicted Head of Operations, Daniel Axim have been jailed for a combined 15 years in prison. Per the sentence of […]
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Transport Ministry has no power to determine fares – COPEC
The Chamber of Petroleum Consumers (COPEC) has chided the Ministry of Transport over its directive to the Ghana Police Service regarding the implementation of new fares. The Ministry, on Monday, April 15, directed the Ghana Police Service to be on the lookout for commercial drivers who are charging fares exceeding the approved rates. Executive Secretary […]
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OmniBSIC Bank posts historic GH¢150m profit in 2023
The OmniBSIC Bank, thought to be the fastest growing bank in the country, has emerged stronger in the aftermath of the debt restructuring programme, with an impressive performance that resulted in one of the biggest profitability ratios in the banking sector last year. The bank’s profit rose by 218 per cent to GH¢150.6 million in …
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Ghana’s medium-term macroeconomic outlook positive – Amin Adam
The Minister of Finance, Dr Mohammed Amin Adam, has reaffirmed that Ghana’s medium-term macroeconomic outlook and prospects remain positive and promising. He also highlighted the government’s dedication to implementing comprehensive structural reforms to bolster growth and enhance revenue mobilisation. Speaking during a joint press conference by the government of Ghana and the International Monetary Fund […]
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We won’t overburden Ghanaians with taxes – Amin Adam assures
The government is determined not to overburden Ghanaians with the payment of more taxes, Dr Mohammed Amin Adam, the Finance Minister, has assured. Rather, the government would ‘use the hard way’ to collect revenue from those who have not been paying the appropriate taxes, as well as those who have been evading taxes in the […]
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IMF deal: Performance indicators contributed to completion of 2nd review – Amin Adam
Dr Mohammed Amin Adam, the Minister of Finance, has outlined key performance indicators that led to the successful completion of the Second Review by the International Monetary Fund (IMF). On Saturday, April 13, 2024, the IMF disclosed that it had reached a staff-level agreement on the second review of the extended credit facility with Ghana. […]
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Ghana will have lowest tax rate in ECOWAS under my presidency – Alan
The founder and leader of the Movement for Change, Alan Kyerematen, has pledged to abolish several taxes imposed on imports that he said are unnecessary and a huge burden to the trading community. Mr. Kyerematen made the pledge in an engagement with members of the Ghana Union of Traders Association (GUTA). He said the abolishment […]
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$3bn deal: We are beginning to reap substantial macroeconomic benefits – BoG Governor
The Ministry of Finance and the Bank of Ghana have shown a steadfast commitment to a set of policies right from the beginning of the implementation of the $3 billion programme with the International Monetary Fund (IMF) under very difficult circumstances, Governor of the central bank, Dr Ernest Addison has said. He stated that they […]
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IMF deal: Addison expresses optimism that 2nd review will lead to release of 3rd tranche
Governor of the Bank of Ghana (BoG), Dr Ernest Addison, has expressed optimism that the successful second review of the programme with the International Monetary Fund (IMF) will lead to the release of the 3rd tranche. The country had already received two tranches, $600million each. The release of the third tranche would increase the total […]
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IMF: We are satisfied with Ghana’s Economic Performance
The International Monetary Fund (IMF) has expressed satisfaction with Ghana’s Economic performance under the IMF-supported program, as it reaches staff-level agreement on the second review of Ghana’s economic program under the Extended Credit Facility (ECF) arrangement. Addressing the media at a joint news conference with the Bank of Ghana (BoG) and the Ministry of Finance […]
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