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    Societe General Ghana partners AGF to provide financing solutions for SMEs

    NPA encourages consumers to lodge complaints of foul play at the pump for redress

    Banks must improve their systems to check rising spate of financial fraud – e-Crime Bureau

    IMF likely to reject program with wholesale gov’t subsidies – Prof. Quartey

    Golden Tulip Hotels not sold; leased for 12 years – Management

    Tullow Ghana awards KNK contract to Petrofac as part of transformation project

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    Node 8, HTU hold first edition of Node X in Ho

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

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    Dr. Bawumia unveils Ghana’s first Tier IV data centre

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    Societe General Ghana partners AGF to provide financing solutions for SMEs

    IMF programme won’t affect free SHS, other flagship programmes – Gov’t

    NPA encourages consumers to lodge complaints of foul play at the pump for redress

    Banks must improve their systems to check rising spate of financial fraud – e-Crime Bureau

    E-Levy won’t be terminated because of IMF bailout – Gov’t assures

    Node 8, HTU hold first edition of Node X in Ho

    IMF likely to reject program with wholesale gov’t subsidies – Prof. Quartey

    ‘Seeking IMF bailout doesn’t mean e-levy has failed’ – Oppong Nkrumah

    ‘Our IMF negotiations will be in best interest of Ghanaians’ – Oppong Nkrumah

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    Societe General Ghana partners AGF to provide financing solutions for SMEs

    NPA encourages consumers to lodge complaints of foul play at the pump for redress

    Banks must improve their systems to check rising spate of financial fraud – e-Crime Bureau

    IMF likely to reject program with wholesale gov’t subsidies – Prof. Quartey

    Golden Tulip Hotels not sold; leased for 12 years – Management

    Tullow Ghana awards KNK contract to Petrofac as part of transformation project

    We did no wrong in sale of 260 metric tonnes of slop oil – TOR

    Increase investments in digitisation platforms to ensure safe trade transactions under AfCFTA – BoG

    Fuel prices to go up as NPA announces restoration of UPPF margin

  • TECHNOLOGY

    Node 8, HTU hold first edition of Node X in Ho

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

    BoG, CSA deepen collaboration to fight cyber threats

    Dr. Bawumia unveils Ghana’s first Tier IV data centre

    ADB pioneers in global remittance services in Ghana [ARTICLE]

    Introduction of GhanaPay complements efforts to capture the unbanked into digital payments ecosystem – Veep

    #CitiBusinessFestival: How the country can take advantage of the “Ghana Opportunity”

    Chamber of Telecommunications calls for more investment into Technology to improve livelihoods

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    Africa’s internet economy to cross $180 billion by 2025: Report

    Regional economic cooperation needed to enhance Africa’s competitiveness – Bawumia

    Ivory Coast is set to receive $26.1 billion worth of development finance from 4 lenders, the EU and France

    Gulf central banks, Bank of England raise policy rates after Fed hike

    US Fed meets inflation surge with 75bp hike

    As Nigeria’s inflation rate accelerates to 17.71%, the World Bank warns millions could face extreme poverty

    Modern airline tickets design with flight time and passenger name. Plane tickets vector pictogram. Airline boarding pass template. Vector illustration. The concept of air transportation

    Ticket prices to rise following B.A schedule change on Accra-London-Accra route

    Bawumia calls for more AfDB support as African economies battle global challenges

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

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All hands must be on deck to bring Ghana’s economy back on track – BoG

byBobbie Osei
June 13, 2022
in Banking And Finance, Government, Local Economy, News, Top Stories
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With the world economy, including Ghana’s, dealing with the aftershocks of the COVID-19 pandemic and the challenges being posed by the ongoing Russia-Ukraine war, stakeholders in Ghana including the government, the Bank of Ghana, businesses as well as the media are being charged to actively and effectively play their roles to build confidence and facilitate a sustained recovery of the economy.

According to a recent African Development Bank report, despite Ghana’s impressive record of two decades of steady growth, its economic prospects could be dented by the impact of the Covid-19 pandemic and the Ukraine-Russia crisis.

After recording a positive pandemic period growth of 0.4% and a stronger than expected economic expansion of 5.4% in 2021, the hopes of managers of the economy of a further rebound in 2022 were dashed by the Russia-Ukraine war which pushed oil prices to record highs (currently hovering around $120) and has impacted key commodity prices, pushing global and local inflation to record highs.

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Speaking on the current situation and the way forward at a recently held financial literacy training workshop for journalists, the Governor of the Bank of Ghana in a speech read on his behalf by the Director of Research at the Bank of Ghana, Dr. Philip Abradu-Otoo advocated bold action and called for a responsive monetary and fiscal policy regime.

“Going forward, both fiscal and monetary policies should remain vigilant and ready to take additional policy measures as well as structural reform is necessary to improve confidence about the economy to sustain the economic recovery. These include but are not limited to, government’s expenditure-control together with new revenue mobilization measures that would support the fiscal consolidation path and help lift financing constraints, bold policies to improve the business operating environment to attract private capital, In addition, political and macroeconomic stability will contribute immensely to regaining investor confidence.”

The Governor also charged Financial and Business Journalists to disseminate key economic information in a way that engenders confidence in economic actors while positively influencing the economic narrative of the country.

“The press must Inform, Persuade and Influence society. In so doing, the press will have to use all available data at their disposal, to drive analytical discourse and exude confidence. Journalists must go beyond the data provided them and do more interrogation of the data to understand better, the data generating facts. All these work in concert to engender economic confidence and this is where we ought to be moving towards.”

“The media’s role in influencing the economic narrative is even more crucial during periods of heightened uncertainty,” he added.

The residential training workshop for selected Financial and Business Journalists was on the theme “Sustaining the Recovery”: The Role of The Journalist in Building confidence.

The Journalists were taken through courses such as,

  • Monetary Policy Practice in Ghana;
  • Understanding Inflation dynamics in Ghana;
  • Understanding Balance of Payments;
  • Foreign Exchange Market/ Currency Volatilities, Causes and Effects;
  • Regulating Fintechs and payment platforms and education on credit;
  • Interpreting Data Pack; and
  • Engagement on practical financial reporting exercises.

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IMF programme won’t affect free SHS, other flagship programmes – Gov’t

NPA encourages consumers to lodge complaints of foul play at the pump for redress

Banks must improve their systems to check rising spate of financial fraud – e-Crime Bureau

E-Levy won’t be terminated because of IMF bailout – Gov’t assures

Node 8, HTU hold first edition of Node X in Ho

IMF likely to reject program with wholesale gov’t subsidies – Prof. Quartey

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