Business

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 ...

The Minister for Information Kojo Oppong Nkrumah says government welcomes the change in the nation’s economic outlook from stable to positive by the Moody’s ratings agency. He told Journalists at a briefing in Accra on Sunday that the Economic Management Team is very pleased at the outlook change and commits to do more. “The change in outlook is a very ...

Moody’s Investors Service (“Moody’s”) has today affirmed the Government of Ghana’s long-term issuer and senior unsecured bond ratings at B3 and changed the outlook to positive from stable. Moody’s has concurrently affirmed the rating of the bond enhanced by a partial guarantee from the International Development Association (IDA, Aaa stable) at B1. The decision to assign a positive outlook reflects ...

Telecom giant, MTN has announced what it describes as “a goodwill package” for its data customers commencing  January, 23, 2020. This comes after the recent disruption in data and international outbound call services which occurred last week due to cuts to the undersea cable delivering the service. The CEO of MTN Ghana Selorm Adadevoh in relation to the gesture said, ...

President Akufo Addo has told investors in the United Kingdom that Ghana wants to participate in the Global Market place fully with Ghanaian products in order to build a nation that will be able to provide jobs for her people. Addressing attendees of the Ghana Investment and Opportunity Summitt 2020 in London, the capital of the United Kingdom, under the ...