Business

The Bank of Ghana (BoG) has suspended the Foreign Exchange Trading Licence of Consolidated Bank Ghana (CBG) for one month, effective November 26, 2024. This action, grounded in section 11(2) of the Foreign Exchange Act, 2006 (Act 723), comes in response to multiple violations of foreign exchange market regulations. In …

The Bank of Ghana (BoG) has suspended the Foreign Exchange Trading Licence of Consolidated Bank Ghana (CBG) for one month, effective November 26, 2024. This action, grounded in section 11(2) of the Foreign Exchange Act, 2006 (Act 723), comes in response to multiple violations of foreign exchange market regulations. In …

The Institute for Liberty and Policy Innovation (ILAPI) has disclosed that the Bank of Ghana (BoG) holds significant sums in dormant accounts across the country, totaling over GH₵167.8 million, $14.6 million, €2.3 million, and £2.4 million. These dormant funds, accumulated from 2016 to 2023, largely belong to deceased individuals whose …

During a Mega Victory Walk in Greater Accra on November 2, 2024, presidential hopeful Alan Kyerematen promised Ghanaians that, if elected, he would stabilize the economy and reduce the exchange rate to under 5 cedis. He expressed concern over the current rate of approximately 1=17 cedis, calling it “unacceptable” and …

The economy of the country’s comprises all activities related to the production consumption, trade and distribution of available goods and services. The state of the country’s economy is not as bad as some people are touting. Why do I say the economy is not as bad?, when you want a …

The Africa Centre for Energy Policy (ACEP) has raised alarm over Ghana’s growing energy sector debt, revealing that the Electricity Company of Ghana (ECG) is losing approximately $67 million in revenue each month. According to ACEP, the company’s revenue collection rate stands at only 57 percent, leaving a significant gap …

A MAJOR BOOST FOR THE MINNING SECTOR Ghana already a global leader in gold and bauxite production, has made a groundbreaking discovery of tantalum deposits in its mineral-rich souls. This new find has the potential to significantly diversify Ghana’s mining industry, placing the country at the forefront of a highly …

As a fast rising city in the central region, Kasoa population has grown over years making it the best place for many club marketers. Kasoa has become a target audience for club owners, even though there have been several decamping about the city varying from how dangerous kasoa can be …

MTN exits two African countries. It has struck a share purchase deal with Telecel to acquire MTN’s stakes in Guinea Bissau and Guinea Conakry. Launched in 1994, MTN Group is a leading emerging mobile operator in the world. MTN invested significantly in advanced communications networks. Connecting more than 203 million …

Ghana’s cedi has become Africa’s third-worst performing currency from January, 2024. The cedi is said to have depreciated by 8.63% against the United States dollar. Reports say that, the cedi’s depreciation is as a result of the gross dept of the country. Bloomberg stated that the ongoing debt restructuring programe …