Category: Top Stories
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Cedi depreciation: About $2bn to be injected into economy – Oppong Nkrumah
Information Minister, Kojo Oppong Nkrumah, has said the government is expected to inject some $2 billion into the Ghanaian economy shortly. Kojo Oppong Nkrumah said the 750 million dollars expected from the Afremix Bank will hit the accounts of the Bank of Ghana this week, whilst the cocoa syndicated loan will add $1.3 billion. Speaking…
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Bank of Ghana to clamp down on forex bureaus trading illegally
The Bank of Ghana has disclosed plans to begin closing down forex bureaus flouting the laws governing foreign exchange operations. This is part of efforts meant to stop all market practices fueling the cedi’s fast depreciation. The local currency has crossed the GH¢10 to US$1 mark on the retail market. A visit by Citi Business…
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Civil Aviation Authority bans Delta Air Lines’ plane from flying to Ghana
The Ghana Civil Aviation Authority has banned an aircraft with Delta Air Lines, with registration N195DN, from flying to Ghana. According to the Authority, the decision follows the failure of the company to investigate and address technical issues regarding the aircraft in question, which left several Accra-bound passengers, including Ghanaians, stranded at the JFK airport…
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BoG warns public against engaging services of 19 unlicensed loan providers
The Bank of Ghana has cautioned the public to desist from engaging the services of some 19 unlicensed entities engaged in the provision of loans to consumers. According to the Central Bank, the operations of the institutions are in contravention of the Banks and Specialised Deposit-Taking Institutions Act, 2016. A statement, issued by the Central…
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BoG’s role in fiscal, monetary policies should be clearly spelt out – Franklin Cudjoe
The Founding President and Chief Executive Officer of IMANI Center for Policy and Education, Franklin Cudjoe says that the ambiguities surrounding the role of the Central Bank of Ghana on fiscal and monetary policies need to be reconsidered. Speaking on The Big Issue on Citi TV, he said the position of the Central Bank claiming…
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Vegetable exporters target US$7m revenue by 2023
Vegetable producers and exporters in the country are projecting an annual revenue of US$ 7 million between now and next year as contribution to the non-traditional export sector (NTE). According to the producers, this is a result of increasing demands in the EU and US markets coupled with high production capacity in Ghana. Already, statistics…
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Ghana EXIM bank CEO hosts US embassy team
The Chief Executive Officer of the Ghana Export – Import Bank (GEXIM), Lawrence Agyinsam, on Thursday, 18th August 2022, hosted a team from the United States of America Embassy in Ghana, led by the Commercial Counsellor, Dean Matlack. The meeting was held at the head office of GEXIM in Accra and afforded the Bank…
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Local currency crosses ¢10 to one dollar mark on retail market
The local currency has crossed the ¢10 to one dollar mark on the retail market. A visit by Citi Business News to some forex bureau and banks within the capital shows that some are selling a dollar for GH¢9.98 whilst others are selling it for GH¢10.10. According to some of the forex bureau operators, there…
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VEPEAG, GAVEX partner to boost vegetable production, exports in Ghana
Two leading actors in Ghana’s fruit and vegetable sector have joined forces to increase the production and supply of quality fruits and vegetables in Ghana and to boost exports to overseas destinations. The Vegetable Producers and Exporters Association of Ghana (VEPEAG) and the Ghana Association of Vegetable Exporters (GAVEX) have worked independently over the years…