Author: Naa Shika Caesar
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Standard Chartered Bank, Access Bank Plc announce sale agreements for subsidiaries in 5 African countries
Standard Chartered Bank and Access Bank Plc (Access) have entered into an agreement for the sale of Standard Chartered’s shareholding in its subsidiaries in Angola, Cameroon, The Gambia, and Sierra Leone, and its Consumer, Private & Business Banking business in Tanzania. Each transaction remains subject to the approval of the respective local regulators and the…
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Citi Business Festival 2023 wraps up successfully with intensive Management Boot Camp
The 2023 edition of the Citi Business Festival has successfully ended with a one-week Management Booth camp held in Accra. The Citi Business Festival, held annually in the month of June, is a prestigious initiative designed to empower Ghanaian businesses with essential strategies for growth and scalability. Covering various aspects of the economy, the month-long…
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Ecobank Ghana PLC records 40.3% revenue growth in 2022
ECOBANK Ghana PLC has despite the shocks of the Domestic Debt Exchange Programme and the general decline of the Ghanaian economy, the bank managed to increase its total revenue for 2022 by 40.3% to 2.97 billion GHC. Ecobank Ghana PLC explains that this growth was driven by mainly increases in net interest income, as well…
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IMF deal: Prof. Gatsi doubts approval of first tranche on Wednesday
Economist Prof. John Gatsi, is doubtful that Ghana would get approval for its first loan tranche of US$600 million from the International Monetary Fund (IMF) by Wednesday, May 17. The government has stated that the first tranche of the US$ 3 billion bailout will hit the account of the Bank of Ghana later this week.…
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IMF likely to approve first $600m tranche for Ghana by Wednesday
Ghana expects the International Monetary Fund to approve a first loan tranche of $600 million as soon as Wednesday, paving the way for disbursement within a week, Minister of State in the Finance Ministry Mohammed Amin Adam told Reuters on Sunday. Ghana is seeking $3 billion from the Fund to shore up its battered economy.…
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Fuel prices to decline in second pricing window of May – COPEC
The Chamber of Petroleum Consumers Ghana (COPEC) is projecting a decline in the prices of fuel in the second pricing window of May 2023. COPEC’s projections indicate that the decline is a result of the decrease in the price of crude on the international market and stable to slightly declining forex rates. Petrol is expected…
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IES predicts further fall in fuel prices
The Institute of Energy Security (IES) has projected an expected fall in the prices of fuel. The marginal drop in the prices of petrol, diesel and Liquefied Petroleum Gas (LPG) announced by the Institute will reflect at the pumps. In a statement, the IES attributed the fall to prices on the world market and the…
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Importers and Exporters disappointed in Akufo-Addo for assenting to 3 new taxes
The business community in the country has expressed anger over news that President Nana Akufo-Addo has assented to the new tax levies, despite resistance from them. The business groups made up of GUTA, AGI and the importers and exporters association petitioned the president on the matter after Parliament passed the revenue mobilization bills. They lament…
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PAC commends GIFEC for its prudence and strong liquidity position
Ghana Investment Fund for Electronic Communications (GIFEC), an Implementing Agency of the Ministry of Communications and Digitalisation responsible for programmes to close the Digital Divide, has been commended for its strong operational and financial position by a member of the Public Accounts Committee (PAC) of Parliament – Isaac Yaw Opoku – Member of Parliament for…
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Inflation for December jumps to 54.1%
The Ghana Statistical Service has pegged the inflation rate for December 2022 at 54.1 percent. This means that in the month of December 2022, the general price level was 54.1% higher than in the same period in 2021. At 59.7%, food inflation was the highest inflation rate for December 2022, soaring past the 55.3% recorded…