Category: Top Stories
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Mid-year budget review slated for July 27
Finance Minister, Ken Ofori-Atta is expected to present the Mid-Year Budget review to Parliament on Thursday, July 27, 2023. This is in accordance with Section (28) of the Public Financial Management Act, 2016 (PFMA) Act 921 which requires that the finance minister presents a Mid-Year Review to parliament six months after the presentation of the…
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KY Amoako advocates constitutional changes to bolster economic growth
The African Centre for Economic Transformation (ACET) has identified changes in the constitution as one of the pivotal ways of driving transformation in the face of Ghana’s current economic quagmire. The Centre makes the point that although the constitution shas aided some economic growth, the present situation requires amendments for the tough times ahead stressing…
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GRA seizes tons of carbonated, alcoholic beverages over tax evasion
The Ghana Revenue Authority’s Excise Unit has seized numerous cartons of malt, vodka, Coca-Cola, and various carbonated beverages. The market value of these drinks according to the GRA’s valuation amounts to thousands of Ghana Cedis. The discovery was made in an open market where the products were being sold without the required excise stamp, indicating…
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Govt poised to help private sector grow – Akufo-Addo
President Nana Addo Dankwa Akufo-Addo has reiterated his government’s resolve to do everything it can to grow the country’s private sector, which will contribute to the growth of the economy. He said this because the country’s current economic challenges require investment from the private sector. Speaking at a meeting with the Group Board Chair of…
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Petroleum tanker drivers resume work after suspension of strike
Business operations have resumed at various petrol and gas depots along the Volta Aluminum Company (VALCO) Kpong road in Tema. A tour at different loading terminals including Tema Oil Refinery, Fuel Trade and Chase was busy with the tanker drivers queueing to fill their tanks. The operations come after government through the Ministry of Roads…
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Mahama begs IPPs to reconsider shutdown over $1.73 billion debt
Mahama begs IPPs to reconsider shutdown over $1.73 billion debt Former President John Dramani Mahama has urged the Independent Power Producers (IPPs) to reconsider their decision to shut down their plants on July 1 due to the government’s outstanding debt of $1.73 billion. In a Facebook post on June 30, the former President emphasized that…
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GCB Bank unveils comprehensive turnaround plan to revitalize operations after DDEP blow
At the annual general meeting of the Ghana Commercial Bank (GCB), Managing Director Kofi Adomakoh addressed the bank’s financial performance in 2022 and outlined the challenges faced by the bank and the overall operating environment. The bank’s financial performance in 2022 reflected the impact of several factors, including the Domestic Debt Exchange Programme (DDEP) initiated…
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Petroleum tanker drivers suspend nationwide strike
The Ghana National Petroleum Tanker Drivers Union and Liquified Petroleum Gas (LPG) Tanker Drivers have suspended their industrial action after more than two hours of crunch meeting held with the Minister of Roads and Highways, Kwasi Amoako-Attah. The Union is expected to resume work from tomorrow, Friday while works begin to smoothen the road. The…
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First National Bank, Fidelity Bank establish special arrangements amid Forex license suspension
Following the temporary suspension of forex licenses by the Bank of Ghana (BoG) due to violations of the Ghana Interbank Forex Market Conduct rules, First National and Fidelity Banks have announced the establishment of special arrangements with partner banks. The forex licenses of Fidelity Bank Ghana Limited and First National Bank Ghana Limited were suspended…
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Bank of Ghana’s operational mechanism ‘very pleasing’ – Prof. Aryeetey
At the launch of Ivor Agyeman-Duah’s comprehensive book on the Bank of Ghana, titled “Central Banking in Ghana and the Governors – Institutional Growth and Economic Development,” Professor Ernest Aryeetey, the Secretary General of the African Research Universities Alliance and former Vice Chancellor of the University of Ghana, praised the Bank’s operational mechanism, stating that…