Category: Top Stories
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Private sector lending will be increased when DGB begins operations – GAB
The Ghana Association of Bankers is confident banks in the country will lend more to the private sector once the Development Bank Ghana begins operations. The failure of commercial banks to lend to the private sector has remained a problem in the industry for many years. According to the Central Bank, while credit to the…
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‘No Ghana card, no salary’ directive to government workers suspended
The Controller and Accountant General’s Department (CAGD) has rescinded its decision not to pay public sector workers if they do not have a Ghana card. Government workers risked forfeiting their December 2021 salaries per an initial directive from the CAGD. The move was said to be part of the Government of Ghana’s efforts to deliver…
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Consider entrepreneurship, public sector payroll full – Ofori-Atta to youth
The Finance Minister Ken Ofori-Atta says government is not looking at employing more public sector workers, as enough resources are already being spent on the over 600,000 persons on government’s payroll. According to the 2021 budget statement, compensation of employees alone as a line item would amount to about GHC 30.3 billion or about 54…
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Use 2022 budget to reset fiscal policy to create credible path towards sustainability. – BoG to Government
Governor of the Bank of Ghana, Dr. Ernest Addison, is urging government to use the 2022 budget to reset fiscal policy and create a more credible path towards medium term fiscal sustainability. According to him, this is crucial to accelerate financial stability for the country. Speaking at the 10th edition of the Ghana Economic Forum…
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Scrapping of PSRL stalls as fuel prices rise to GH¢6.80 per litre
The much-anticipated removal of the Price Stabilization and Recovering levy of 16 pesewas in the price build-up of fuel at the pumps is yet to take effect even as the second pricing window commences. This is because Parliament is yet to give the National Petroleum Authority (NPA) the approval needed to scrap the levy. While…
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Cold store operators appeal for electricity subsidies
The members of the Cold Store and Corn Millers Association are calling on the government to subsidize electricity tariffs to save their businesses from collapsing. Speaking to Citi News, General Secretary of the Association, Moses Dei said, “the new pre-paid meter “runs like Usain Bolt and this is taking a toll on our business”. He…
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Telco: Voice subscriptions in Ghana decreased marginally in August 2021
The total number of mobile voice subscriptions in the country for the month of August 2021 saw a marginal decrease. According to the National Communications Authority, at the end of August 2021, the total number of mobile voice subscriptions in Ghana was 41,486,196. This figure represents 132 percent penetration and a 0.81 percent decrease from…
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Police Service discusses banking security with BoG, Bankers’ Association
As part of efforts to improve safety and security in the banking sector, the Ghana Police Service has met with officials of the Bank of Ghana and other relevant stakeholders in the sector. This comes on the back of several attacks on cash-in-transit operations within the country. The Ghana Police Service, in a Facebook…
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We’re not running 64th anniversary promo, ignore fraudulent reports – BoG
The Bank of Ghana has cautioned the general public against participating in a fraudulent promotion said to be on the bank’s 64th anniversary. According to a notice from the central bank, it has observed the fake promotion on social media, hence the disclaimer. The bank however says it is not running a 64th-anniversary promotion of…
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BoG warns against fraudulent money doubling scheme dubbed ‘Worldremit’
The Bank of Ghana is cautioning the general public against the patronage of a money-doubling scheme operating in Ghana under the pseudo name “Worldremit”. According to the Central Bank, “this fraudulent scheme is distinct from the globally renowned Fintech, “WorldRemit” which is in the business of international fund transfers”. The central bank explained that the fraudulent…