Business

The prices of petrol and diesel are expected to drop significantly between 7.1% and 10.8% at the pumps, from Thursday, February 16, 2022. However, that of Liquefied Petroleum Gas (LPG) will go up for the next two weeks. According to the Institute for Energy Security (IES), petrol will sell at …

The Ministry of Finance has revealed that it has successfully swapped GH₵‎82,994,510,128 worth of old bonds from a possible GH₵‎ 97,749,624,691 under the domestic debt exchange programme. The amount represents an 84.91% success rate exceeding the Finance Ministry’s intended target of an 80 percent participation rate. Meanwhile, the government has extended the settlement …

An economist at the University of Ghana, Peter Quartey, has vehemently rejected the Finance Minister’s decision to include the funds of pensioners in the domestic debt exchange programme. Mr. Quartey is worried that the prolonged maturity period of bonds under the programme has a likelihood to affect this aged population …

Management of Telecel group has assured the staff of Vodafone of no layoffs as it takes over the company. This follows the National Communications Authority’s approval for the transfer of the 70 per cent majority shares in Ghana Telecommunications Company Limited (Vodafone Ghana) held by Vodafone International Holdings B.V. to …

The Government of Ghana and the Ghana Association of Banks (GAB) have made significant progress on the terms of participation of Banks in the Domestic Debt Exchange Programme (DDEP). The new agreement encompasses final improvements to the terms of the programme. These include; an agreement to pay 5% coupon for …

The price of premix fuel has been increased by GH¢15 from the initial GH¢10 and a gallon is now expected to be sold at GH¢25 per gallon across the various landing beaches in the country. The increase according to the government has been necessitated by the increases in the price …

The Minister of Finance, Ken Ofori-Atta, has reiterated that the debt exchange programme is voluntary, and no bondholder is bound to accept the terms of the programme. Giving his opening remarks ahead of a meeting with individual bondholders on Wednesday, January 18, Mr Ofori-Atta said the government is targeting an …

The Minority in Parliament says the ongoing debt exchange programme will not augur well for the banks in the country. The opposition National Democratic Congress (NDC) members’ spokesperson on Finance, Dr Cassiel Ato Forson, said a minimum of five commercial banks will collapse over the exercise if care is not …

The Bank of Ghana has attributed the depreciation of the local currency to the day-to-day pressures on the economy. Although the cedi appreciated against the dollar during the last two months of 2022, it is currently depreciating further against the dollar. The cedi which appreciated to 8 cedis to a …

The National Cathedral Secretariat has refuted allegations by the Member of Parliament for North Tongu, Samuel Okudzeto Ablakwa, who claimed that some GH₵2.6 million was paid to a company owned by a board member of the cathedral, Rev. Victor Kusi Boateng. JNS Talent Centre Ltd which allegedly runs a crèche …