Category: Banking And Finance

The Producer Price Inflation for February 2019 went up by 5.4 percent. This represents a 2. 0 percentage point increase from the 3.4 percent recorded in January 2019. The Producer Price Index is the price manufacturers and producers sell their products at the wholesale level. The 5.4 percent increase means retailers paid more on goods…

Ghana Cocoa Board (“Cocobod”)has  signed a new 3-year receivables-backed trade finance facility of US$300m. The Facility will be used to refinance Cocoa Bills raised by Bank of Ghana on behalf of Cocobod and/or to finance production enhancement programmes. Cocobod represents various interests of the Ghanaian cocoa industry. It was established in 1947 with the mission…

The Energy Commission has warned it will sanction owners of buildings that are over 10 years that have not been inspected and rewired. The Commission has served notice it has begun the enforcement of the Electrical Wiring Regulations 2008 which was passed in 2012. The law requires that all buildings both commercial and private residents…

President Nana Akufo-Addo has called for broadening of the discussions on the struggling cedi which he previously said has left him “extremely upset and anxious”. Speaking at a meeting with the leadership of the Ghana Bar Association, President Akufo-Addo said the focus should be turned to the structural problems of the economy. “Our public discourse should also…

Government has issued 3 billion dollars Eurobond which will mature over three periods of time. The three tranches come at a maturity period of seven years with 7.875 percent coupon rate, 12 years with 8.125 percent coupon rate, and 31 years with 8.95 percent coupon rate. The bond which was the highest ever for an African…

Economist and consultant Dr. John Kwakye has stated that Ghana’s planned exit from the International Monetary Fund (IMF) programme next month has created uncertainties among some investors, contributing to the fall of the cedi against the dollar. According to him, some investors who are willing to bring their funds into the country are unsure of…

A government delegation comprising a team from the Ministry of Finance and officials from the Bank of Ghana (BoG) will today begin a Eurobond road show. Government is planning to raise three billion dollars through the bond to cater for infrastructure development in the 2019 budget as well as retire some maturing debt. The Minister…

The Association of the Ghana Industries(AGI) has urged government to put in measures that will stabilize the cedi against the dollar. This follows a recent announcement by the Finance Minister, Ken Ofori-Atta, that the free fall of the cedi against the dollar, will be curtailed in the coming weeks. The cedi has depreciated against the…

Ghanaians will have to endure the recent power outages for five more days. This is according to the Minister of Energy, Peter Amewu who blamed the recent outages on technical challenges and the construction of an interchange at Pokuase in Accra. Many parts of the country have been hit with widespread blackout twice this week.…