Category: Top Stories
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‘IMF support will help revive our economy’ – Akufo-Addo
President Nana Akufo-Addo is confident the International Monetary Fund support government is seeking will help restore macroeconomic stability and revive the distressed economy. Nana Akufo-Addo says many countries across the world are suffering from an economic meltdown. Speaking at the swearing-in of some new Ambassadors and High Commissioners at the Jubilee House, Nana Akufo-Addo said…
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Help COCOBOD develop a robust risk management system – IAA Boss
A five-member Audit Committee has been inaugurated by the Director-General of the Internal Audit Agency (IAA), Dr. Eric Oduro Osae at the Ghana Cocoa Board (COCOBOD). Dr. Oduro Osae charged the committee should help the organisation to develop a robust risk management policy to anticipate risks, ensure constant awareness of the organisation’s risk exposures and…
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S&L sub-sector contributes 35.1% of total assets for Q1 of 2022 – BoG
Second Deputy Governor of the Bank of Ghana, Elsie Addo Awadzi, has disclosed that the savings and loans sub-sector contributed 35.1 percent of the total assets of the specialized deposit-taking institutions sector in the first quarter of 2022. While commending the savings and loans sector for their significant role in the economy at the 12th…
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Gov’t of Ghana extends deadline for submission of Aker Energy’s PDO
A little over three years after its initial Plan of Development to facilitate the optimization of the Deepwater Tano / Cape Three Points (DWT/CTP) block was rejected by government, Aker Energy, a leading oil exploration and production company, has been granted an extension by government for the submission of its Plan of Development. That’s according…
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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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IMF team meets BoG, Minister of Finance as negotiations begin
The International Monetary Fund (IMF) as part of ongoing discussions to develop a bailout program for Ghana, has deployed two delegations to hold simultaneous meetings with separate teams from the Bank of Ghana and the Ministry of Finance today. This comes a day after paying courtesy calls on the Vice President, the Minister of Finance…
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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…