Category: Business
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Suggested expenditure cuts by the IMF should not affect industry – AGI pleads
The Association of Ghana Industries, AGI, has urged government to ensure that any requests for cuts in expenditure by the IMF, does not affect productive sectors of the economy like agriculture, manufacturing and industry as a whole. As discussions between government and the IMF picks up, different stakeholders have expressed different opinions on the impact…
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Non-resident Ghanaians can use their passports for banking transactions – BOG
The Bank of Ghana has issued a directive to banks in the country to allow non-resident Ghanaians who have not yet registered for or do not have access to their National ID cards to use their passports for banking transactions until they obtain their cards. This directive comes a few days after banks started demanding…
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Revocation of UniCredit’s license unlawful – Court of Appeal rules
The Court of Appeal has overturned the Bank of Ghana’s decision to revoke the license of UniCredit Ghana Limited. The appellate Court describes the Central Bank’s decision as an unlawful exercise of its powers. The three-member Court, with Justice Gbiel Suurbaare as President, was unanimous in its decision on Thursday to quash the BoG’s revocation…
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Importers and Exporters Association calls for improved ease of doing business
As the Finance Minister prepares to present the Mid-Year Budget Review in Parliament on the 13th of July 2022, the Importers and Exporters Association is urging government to implement more measures to improve the ease of doing business in the country. According to the Association, this will ensure economic growth and position the country to…
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Volume of registered internet banking customers drop by 4.8% in 2021 – BoG
Data from the Bank of Ghana has revealed that the number of registered internet banking customers declined by 4.8 percent to 970,435 in 2021, compared to 2020. According to the Central bank’s 2021 Payment Systems Oversight Annual Report, registered mobile banking customers also decreased to 4.06 million in 2021, from 4.77 million in 2020. Despite…
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Use 2022 Mid-Year Budget to review tax exemption regime – GUTA
The Ghana Union of Traders’ Association (GUTA) has once again underscored the need for government to review the tax exemption regime to curtail revenue losses, as the Minister of Finance, Ken Ofori-Atta prepares to present the Mid-Year Budget Review on the 13th of July. According to the Association, there is a lack of urgency in…
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Time to take strategic steps to grow Ghana’s economy is now – Pierre Laporte
The Country Director of the World Bank, Pierre Laporte has charged government to take advantage of the current global economic crisis to take strategic steps to help grow Ghana’s tourism sector and the general economy in the medium to long term. Tourism is an important driver of economic growth in Ghana. According to data from…
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Societe General Ghana partners AGF to provide financing solutions for SMEs
Ghana’s Small and Medium sized business sector is set to receive a major boost as Societe Generale Ghana has signed a partnership agreement with the African Guarantee Fund to increase its financing support to SMEs through enhanced credit facilities. The total guarantee facility of GHS35 million will enable the bank extend financial support to SMEs…
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NPA encourages consumers to lodge complaints of foul play at the pump for redress
The National Petroleum Authority is encouraging the public to reach out to its office whenever they have a challenge with products sold to them at the pumps. This according to the NPA will enable it to weed out non-compliant companies in the system. Communications Manager at NPA Mohammed Abdul-Kudus stressed that it was important that…
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Banks must improve their systems to check rising spate of financial fraud – e-Crime Bureau
Cyber security firm, e-Crime Bureau is encouraging businesses in the financial sector to beef up their security and ensure they safeguard their systems to mitigate the occurrence of fraud. This follows a recent report by the bank of Ghana which indicated an increase in fraud-related losses by Banks and specialized deposit taking institutions in Ghana…