Business

The Institute for Energy Security (IES) is forecasting between 16 and 24% drop in prices of fuel on the local market in the first Pricing-window for April 2020. This is due to the significant fall of 33.36% in price of Brent crude, coupled with the considerable drop in the prices of petrol (51.29%) and diesel(27.96%) on the international market. Crude ...

The Ghana Union of Traders Associations(GUTA) has advised its members to comply with the lockdown order issued by the President. “The clarion call therefore is to Stay Home,” a release by the leadership of GUTA said. Guta in its statement noted that it recognizes the very contagious nature of the covid-19 pandemic and therefore understand the decisions taken by the ...

All mobile money transfers of GH¢100 and below will attract no charges from service providers for the next three months, subject to review, the Bank of Ghana has announced. The new move begins Friday, March 20, 2020. It is part of various measures outlined by telecommunication companies to help support the fight against the Coronavirus (COVID-19) pandemic with the aim ...

All things being equal, fuel prices at the pumps may go down this month by 15% at the start of the second-pricing window. This comes as a result of the 30% drop in global crude prices and the relative stability of the cedi against major international currencies. Addressing a Press conference on Tuesday, the Chief Executive Officer of the NPA, ...

President Akufo-Addo has disclosed that the Receivers of collapsed banks and microfinance institutions will from Monday, February 24 start paying depositors who have had their monies locked up due to the financial sector clean-up. He said government is mobilizing GH¢13 billion to pay the customers of these financial institutions. “We inherited a collapsing financial sector. The government is having to conjure ...

The Vice President, Dr Mahamudu Bawumia, has assured depositors whose funds have been locked up in regulated but defunct financial institutions of full restitution of their funds. Speaking at the Great Hall of the Kwame Nkrumah University of Science and Technology as part of the two-day Government Townhall Meeting and Results Fair in Kumasi, Ashanti Region, on Tuesday, 11th February, ...

The Vice President, Dr Mahamudu Bawumia, has commended Ghana’s banking sector for the continued support for Government initiatives and development programmes over the years. The Vice President is particularly grateful for the support of Barclays Bank Ghana over the years in achieving Government’s flagship programmes in agriculture, education and technology, and for supporting other programmes such as rural telephony network expansion, Ghana Road ...

The Country Director for World Bank, Frank Laporte, has urged Ghana to be careful with its rate of borrowing. Describing the country’s debt situation as “moderate to high risk of debt distress,” Laporte said he is confident the Finance Minister, Ken Ofori-Atta and his team are fully aware of that, adding he is in constant communication with them. He added ...

Global Capital markets on Tuesday further voted confidence in the Ghanaian Economy with a five times over-subscription of the countries 3 BillionUSD Eurobond sale at very low rates comparatively. While Ghana went to the Markets to raise 3b USD, investors responded with a15b USD offer for Ghana’s new coupon rates. Market watchers were initially worried Ghana may achieve little success ...

Kumasi Youth Association(KuYA) has condemned what it says is the Akufo Addo led-government’s “malicious strategy” to collapse businesses owned by former Finance Minister and Founder of uniBank Dr. Kwabena Duffuor, and other industrious Ashanti businessmen. KuYA, describing the development as an “anti-Asante agenda” stated that there’s a strategic plan to face out Asantes who have made it both in the ...