Category: Featured
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Government must adopt ‘‘warlike’’ approach to solve economic challenges – Prof Bokpin
Professor Godfred A. Bokpin, a Professor of Finance at the University of Ghana, says the Government ought to adopt a “warlike” approach to solve the country’s economic challenges. He said economic issues such as corruption, low tax revenues, public expenditure and all economic bottlencks must be dealt with intentionally. Prof Bokpin said this at a…
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GH¢2.11bn T-Bill auction likely to be oversubscribed, GCB Capital Research predicts
GCB Capital Research analysts have indicated that the October 6, 2023 Treasury bills (T-bills) auction could witness significant oversubscription due to its relatively smaller size. The T-bill auction is targeted to issue GH¢2.11 billion. This marks a 17.94 percent decline compared to the previous week’s issuance. The T-bills will encompass various tenors, ranging from 91-day…
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TOR-Torentco deal: Some staff raise fresh alarm over formation of subsidiary companies
Some workers of the Tema Oil Refinery (TOR) have raised fresh alarm over government’s plans to revamp the operations of the refinery through Torentco Asset Management. The concerned staff are alleging the formation of two separate companies that still have Torentco as part of its shareholders. On Tuesday, October 3, 2023, the workers who are…
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Ghana loses GHS 49.5 million to cyber fraud in nine months
Ghana has reported a loss of GHS 49.5 million in the first nine months of the year due to cyber fraud activities, according to the Cyber Security Authority. The revelation establishes the pressing need to intensify efforts to combat cybercrime and safeguard the digital landscape. The Cyber Security Authority is actively working on implementing a…
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Activities at Ghana’s ports begin to rebound after 2023 slow start
Customs House Agents have reported a noticeable uptick in activities at Ghana’s ports, signaling a rebound after sluggish traffic volumes observed since the start of the year. Data from the latest Composite Index of Economic Activity reveals that approximately 57,000 containers have transited through the ports as of July 2023. While this figure represents a…
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BoG’s viability analysis framework to safeguard financial institutions – Governor
The Bank of Ghana (BOG) is developing a Business Model and Viability Analysis Framework to protect financial institutions from potential shocks resulting from the Domestic Debt Exchange Program according to the governor. BOG Governor, Dr. Ernest Addison, has reaffirmed the Central Bank’s commitment to ensuring the financial stability of banks across the country. Speaking at…
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Cedi weakens against the dollar in October after months of relative stability
This week, the dollar has made a slight gain, by a few pesewas against the Bank of Ghana’s rate. According to the interbank forex rates from the Central Bank, the cedi is currently trading at GHS 11.13 against the dollar as of Monday, October 2, 2023. Despite widespread projections of cedi stability, currency analysts assert…
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The geopolitical forces driving today’s oil market
The recent oil price rally has been driven, in large part, by Saudi Arabia’s and Russia’s efforts to cut supply to the global crude market. Both China and the West are negatively impacted by high oil prices and will be eager to bring prices down using all the weapons at their disposal. Ultimately, the price…
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IMF raises concerns over the energy transition price tag
The energy transition as it is currently being pursued threatens to boost public debt significantly, the International Monetary Fund has warned in a new report. Dubbed Climate Crossroads: Fiscal Policies in a Warming World, the report says that the choice of governments to push the transition forward by using a combination of public investment and subsidies…
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Billion dollar opioid addiction market fuels Nigeria’s drug crisis
A growing market of addiction to synthetic opioids estimated at over $1 billion has been identified as the fastest-growing challenge in Nigeria’s drug crisis, apart from cocaine and heroin trafficking. The emerging challenge is fuelled by the activities of organized crime syndicates that specialize in the production, use, and trafficking of drugs, according to a…