General
Local Govt Ministry to sanction MMDAs who fail to implement GARID projects
The Ministry of Local Government, Decentralization, and Rural Development (MLGDRD) has issued a directive to Metropolitan, Municipal, and District Assemblies (MMDAs) overseeing GARID projects to ensure that proper flood mitigation measures are implemented ahead of the rainy season. The Ministry disclosed that funds have been allocated for the desilting of drains as part of these […]
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Editors Pick
POS, Kumasi Central Prisons open paralegal office for underserved criminal convicts
The Ghana Prisons Service in the Ashanti Region is hopeful of decongesting its facilities with the opening of an In-Prison Paralegal Office at the Kumasi Central Prisons. The IPP which targets criminal convicts, tailgates from the successes chalked in the Justice For All Program which has so far reduced Ghana’s remand prisoner population ratio from […]
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Business
Stanbic employees donate to Nsawam Women’s Prison
The Affluent Team of Stanbic Bank Ghana has donated an amount of GHS10,000 to the Nsawam Medium Security Female Prison. The donation aims to support the refurbishment and equipping of vocational workstations to support the ongoing upskilling of inmates. The gesture forms part of the bank’s annual corporate social initiatives carried out on a departmental […]
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Featured
Kumasi Central Prison population hits 1800, triple its capacity
The population of the Kumasi Central Prison is nearly 1800, far exceeding the facility’s capacity of 600 spaces for inmates, as of Friday, April 26, 2024. This situation is not different from other prisons across the country. Judges, legal practitioners, prison authorities, and various stakeholders have expressed concern about the rate of overcrowding, which results […]
The post Kumasi
General
Brawl between military, prison officers at Bawku due to lack of trust – Bonaa
Security analyst, Dr. Adam Bonaa says the fight between military peacekeeping troops and officers of the Ghana Prison Service at Bawku in the Upper East Region could be occasioned by the lack of trust among the security agencies in the region. This comes on the back of fighting between military peacekeeping troops and personnel of […]
The post Brawl between military,
Business
$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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Business
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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Business
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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International
Moroccan activist handed 5-year jail term for criticizing the country’s ties to Israel
An activist who criticized Morocco’s decision to normalize relations with Israel was sentenced to five years in prison, as some of the Arab world’s largest pro-Palestinian protests continue to sweep the country. Abdul Rahman Zankad of Mohammedia, Morocco was arrested in March after posting on Facebook about Israel’s war in Gaza and Morocco’s 2020 decision […]
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Business
Bank of Ghana seeking to hand over Gold for Oil programme to a commercial bank – Dr Addison
Governor of the Bank of Ghana (BoG), Dr Ernest Addison, has revealed that the central bank intends to hand over the Gold for Oil programme to a commercial bank to operate. This, he said, would allow for the BoG to focus on its core mandate. Asked by Buem lawmaker Kofi Adams whether this programme is […]
The post Bank of Ghana seeking to hand over Gold for
Business
Governor Addison assures PAC of ‘a big jump’ in BoG’s holdings of gold
The Governor of the Bank of Ghana (BoG), Dr Ernest Addison, has assured the Public Accounts Committee (PAC) of Parliament that by next year the central bank will see a huge jump in its holdings of gold due to the Gold For Reserves programme. He said that the full benefits of the programme have not […]
The post Governor Addison assures PAC of ‘a big jump’ in BoG’s holdings
Business
Ghana’s economy is improving – BoG Governor
The Governor of the Bank of Ghana (BoG), Dr. Ernest Addison, has declared that Ghana’s economy is on an upward trajectory compared to previous years. Previously, the economy had experienced a downturn, prompting the government to seek a $3 billion International Monetary Fund (IMF) bailout. However, during his address to the Public Accounts Committee of […]
The post Ghana’s
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Facilities in new head office have been downsized – BoG Governor reveals
The Bank of Ghana (BoG) has revealed that it has reduced the scale of certain facilities in its controversial new head office, currently under construction. The BoG faced significant criticism over the construction of the new headquarters, with the Minority in Parliament demanding the removal or resignation of Governor Dr. Ernest Addison. Speaking before the […]
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Business
Addison explains why Ghana’s economy is growing but the Cedi is depreciating
Governor of the Bank of Ghana (BoG), Dr Ernest Addison, has explained why the local currency, the Cedi depreciated against the major trading ones, the Dollar, Pounds, and Euros, at a time when the local economy was expanding. Recently, the Government Statistician, Professor Samuel Kobina Annim announced that Ghana’s economy grew by 2.9% in 2023, […]
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Business
Bank of Ghana prepared to tackle cross-border illegal transfers – Governor Addison
Governor of the Bank of Ghana (BoG), Dr Ernest Addison, has asked the state security agencies to assist the bank in dealing with reports of cross-border illegal transfers. He says that although the Bank hears rumors of these illegal transfers, it is not taking the matter lightly. Dr Addison said these while answering a question […]
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Economy
BoG holds policy rate steady at 29% amid lingering inflation risks
By Joshua Worlasi AMLANU (joshua.amlanu@thebftonline.com) The Monetary Policy Committee (MPC) of the Bank of Ghana has announced its decision to maintain the monetary policy rate at 29 percent, citing persisting upside risks to inflation. Dr. Ernest Addison, Governor of the central bank, disclosed the rationale behind the decision during the 117th MPC meeting’s press briefing […]
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Business
Cedi continues to recover its value despite seasonal pressures – Governor Addison
Governor of the Bank of Ghana (BoG), Dr Ernest Addison, has said that the foreign exchange market came under some seasonal pressures in February and early March 2024. However, he said, the Ghana cedi continues to recover its value. The pressures, he explained, emanated mainly from the strengthening of the United States dollar in international […]
The post Cedi continues
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