Category: News
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IMF awaits Ghana’s agreement with bilateral creditors before releasing next tranche of $3bn bailout
The International Monetary Fund (IMF) says it is waiting for the outcome of Ghana’s engagement with its bilateral creditors before releasing the next tranche of the $3 billion bailout package. This was disclosed by the IMF Managing Director, Kristalina Georgieva, in a tweet on Wednesday after meeting Ghanaian officials to discuss the way forward. Ghana…
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IMF bailout: Quickly agree on debt relief terms – Ofori-Atta begs bilateral creditors
The Ministry of Finance has appealed to its bilateral creditors to quickly agree on the debt relief terms to help Ghana secure the second tranche of the $3 billion International Monetary Fund (IMF) bailout package. He expressed appreciation to the IMF for giving Ghana the needed support in its quest to help the economy turn…
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Development Bank Ghana set to diversify financial offerings by introducing equity fund alongside lending activities.
DBG’s Chief Executive Officer, K. Duker, unveiled the bank’s plans for this equity fund, aimed at expanding the range of financial products available to both institutions and borrowers at different stages of development. DBG, established in June 2022, has already disbursed GH¢731 million across various sectors, contributing to Ghana’s economic growth and development. Mr. Duker…
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Gold Coast Fund Management customers spend night at Finance Ministry
Customers of the collapsed Gold Coast Fund Management Company spent the night at the entrance of the Finance Ministry to press home their demand for the release of their locked-up funds. According to the group an amount of GH¢8.6 billion which was approved by Parliament to settle its members, has not yet been given to…
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A look into how business in Nigeria has fared since President Tinubu’s election
The performance of the business ecosystem in Nigeria, in 2023 is a subject of keen interest, as it plays a pivotal role in the country’s economic development and prosperity. Nigeria’s private sector, comprising of businesses ranging from small and medium-sized enterprises (SMEs) to large corporations, has faced numerous challenges in recent years, but none more…
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Access Bank registers a GH¢0.30 increase in its share price as the local stock exchange witnesses no declines
The trading session on Tuesday [10-10-2023] revealed that 350,940 shares, valued at GH¢1,033,744.81, changed hands in a highly active market. Leading the pack was GCB, emerging as the most traded stock on that particular day. Following closely, 35,840 shares of ETI were traded, with a combined value of GH¢5,376.00. The list of the top five…
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Ghana’s 3% economic growth an indication of a resilient economy – IMF Mission Chief
Stéphane Roudet, the International Monetary Fund’s (IMF) Mission Chief for Ghana, has lauded Ghana’s economic growth. In an interview on The Point of View on Citi TV, Mr. Roudet intimated that Ghana’s quick economic recovery is surprising and also encouraging, as the country has outperformed the IMF’s projection for the year 2023. He indicated that the IMF had…
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The effect of the Israel-Gaza conflict and national census ripples across SA’s economy
The South African currency fell on Monday as the unrest in the Middle East fueled risk aversion in global markets, and traders anticipated the outcome of the national census, which is due this week. At 1510 GMT, the rand was trading at 19.4100 per dollar, down 0.6% from its Friday close. “Trade in the rand…
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West Africa records growth despite coups and underperformance of its largest economies
Sub-Saharan Africa’s economic recovery is defined by certain subregions overperforming in comparison to the regional average and others underperforming. The World Bank relayed the aforementioned information in its Africa’s Pulse bi-annual report. The global lender identified how Africa is doing based on regional performance, which supports its evaluation. The report shows that while the Economic…
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Fertilizer stocks jump with Israel conflict stoking supply concerns
Fertilizer makers jumped after Hamas’ surprise attack on Israel raised concerns over how the conflict could impact global supplies of nutrients used to grow crucial food crops. Israel’s Port of Ashdod, just north of Gaza and a key hub for the country’s potash fertilizer exports, is in emergency mode amid the deadly conflict. That’s putting…