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You don’t need to incur GH¢15.6bn loss to stabilise the economy – Dr Boako tells gov’t
Member of the Finance Committee of Parliament, Dr Gideon Boako, has questioned the scale of losses recorded by the Bank of Ghana, arguing that economic stability should not come at such a high financial cost. Speaking on JoyNews’ Newsfile, Dr Boako said while recent gains in macroeconomic stability are evident, the GH¢...
Chamber of Mines disputes GoldBod CEO’s claim on forex repatriation by large-scale miners
The Ghana Chamber of Mines has challenged claims by the Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, that large-scale mining companies repatriate less than 20% of their mineral export proceeds to Ghana.
Former Trade Minister commends Ghanaian entrepreneurs for resilience and innovation in building Ghana
Member of Parliament for New Juaben South, Michael Okyere Baafi, has paid tribute to Ghanaian entrepreneurs for their resilience and contributions to national development as part of activities marking Ghana Month. Delivering a statement on the floor of Parliament, Mr. Baafi emphasized the critical role local entreprene...
Central bank’s inflation fight since 2022 came at a cost – Prof Turkson
External Member of the Monetary Policy Committee of the Bank of Ghana, Prof Ebo Turkson, says Ghana’s fight against inflation since 2022 could not have succeeded without significant economic costs.
MGL’s May Day Egg market ends in resounding success as crowds turn out for affordable eggs
The Multimedia Group’s highly anticipated two-day May Day Egg Market has drawn to a triumphant close at the Joy FM Car Park, captivating throngs of shoppers eager to access affordable, high-quality eggs while championing Ghana’s poultry industry.
BoG ends GoldBod prefinancing arrangement
The Governor explained that the Monetary Policy Committee will assess how the move has affected liquidity conditions, monetary policy transmission and broader macroeconomic outcomes as it deliberates on the appropriate policy stance.
GRA uncovers $31bn trade irregularities, rolls out AI system to curb revenue leakages
The Commissioner-General of the Ghana Revenue Authority (GRA), Anthony Sarpong, says a recent review of trade data has revealed significant gaps in Ghana’s import monitoring system, including billions of dollars in unexplained foreign transfers. According to him, a five-year analysis of customs and trade records showed...
Government cuts Petroleum Hub land size by 6,700 acres to address landowner concerns
Government has reduced the land size earmarked for the Petroleum Hub Development Project in the Jomoro District by 6,700 acres, following concerns raised by affected landowners. The project, which was initially planned to cover 20,000 acres, has been scaled down as part of efforts to address petitions from host communi...
AfDB disburses $10.41 million to Ghana to strengthen governance and advance climate action
Ghana has secured a $10.41 million grant from the African Development Bank Group to tighten its public financial systems and push forward inclusive, climate-resilient growth. The funding, approved by the Bank’s Board, is expected to bolster transparency and strengthen economic governance at a critical time for the coun...
T-bills auction: Government records 20.1% undersubscription; interest rates continue to surge
For the second week running, the government failed to meet its treasury bills target. According to the auction results by the Bank of Ghana, the government recorded 20.14% undersubscription of its auction target. According to auction results, the government got GH¢3.93 billion as against a target of GH¢ 4.93 billion....
GRA vows to clamp down on importation of right handed vehicles
The Ghana Revenue Authority (GRA) says it will work with other state agencies to clamp down on the importation and clearance of certain right-hand drive vehicles, following safety concerns raised by the National Road Safety Authority (NRSA).
Cedi extends depreciation trend for past two weeks; one dollar equals GH¢11.85 at forex bureaus
The Ghana cedi extended its depreciation trend over the past two weeks, but with notably milder swings. The local currency recorded volatility of approximately 0.5% compared to a historical weekly average of approximately 2.1%. In the interbank market, the Ghana cedi weakened by 0.54% to a mid-rate of GH¢11.09 against...