Ghana’s local currency, the cedi, continues to rank among the world’s best-performing currencies despite the combined effects of seasonal trade pressures and a recent dip in remittance inflows, according to the Governor of the Bank of Ghana, Dr. Johnson Asiama. Addressing the opening session of the Monetary Policy Committee meeting on September 15, 2025, Dr....
Category: Business
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IMF Forecasts Ghana’s Public Debt to Drop to 60% of GDP by End-2025
The International Monetary Fund (IMF) anticipates that Ghana’s public debt will fall to roughly 60 percent of Gross Domestic Product (GDP) by the close of 2025, crediting the improvement primarily to the nation’s recent debt restructuring initiative. Speaking at a media briefing in Washington, D.C., on Thursday, 11 September 2025, IMF Communications Director Julie Kozack...
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IMF Backs Bank of Ghana’s New Forex Rules to Strengthen Cedi and Boost Market Transparency
The International Monetary Fund (IMF) has thrown its support behind the Bank of Ghana’s (BoG) newest foreign exchange regulations, calling them a move toward reinforcing the cedi’s position as Ghana’s exclusive legal tender while enhancing openness in the forex market. During a press conference on Thursday, September 11, 2025, IMF Communications Director Julie Kozack stated...
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Big Push Roads Programme Begins Next Week
President John Dramani Mahama has announced the commencement of the long-awaited Big Push programme, with a first phase dedicated to rehabilitating critical road networks across the country. In a highly anticipated media encounter on Wednesday, September 10, President Mahama disclosed that nearly GHC 14 billion of oil and gold revenues had been earmarked for the...
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Government to Launch ‘Nkoko Nkitinkiti’ Poultry Programme in October
The Minister of Food and Agriculture, Eric Opoku, has announced that the government will roll out the Nkoko Nkitinkiti initiative in the first week of October, after its earlier postponement from July. According to him, the delay was necessary to allow for wider engagement with key players in the poultry industry, many of whom had...
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Ghana’s Small-Scale Gold Exports Hit Record 66.7 Tonnes, Worth $6 Billion – Gold Board CEO
Ghana’s small-scale gold export industry has reached an unprecedented milestone, with shipments totalling 66.7 tonnes between January and August 2025, valued at roughly $6 billion, according to the Chief Executive Officer of the Ghana Gold Board, Sammy Gyamfi. Speaking at the inaugural Mining and Minerals Convention at the Kempinski Gold Coast Hotel on September 9,...
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GRIDCo Seeks 130% Increase in Transmission Tariff to Maintain Operations
The Ghana Grid Company (GRIDCo) has submitted a request to the Public Utilities Regulatory Commission (PURC) seeking approval to more than double its transmission service tariff — from the current 5.6422 pesewas per kilowatt-hour to 12.9768 pesewas per kilowatt-hour in 2025. This proposal represents a 130% jump compared to the rate for the first quarter...
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VRA Seeks 59% Hike in Bulk Generation Tariff to Sustain Power Supply
The Volta River Authority (VRA) has formally applied to the Public Utilities Regulatory Commission (PURC) for a significant upward adjustment in its Bulk Generation Charge (BGC), proposing a 59% increase. The Authority is requesting approval to raise the rate from 45.0892 Ghana pesewas per kilowatt-hour to 71.8862 pesewas per kilowatt-hour. VRA maintains that the increment...
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MTN Ghana to Phase Out 2G and 3G Networks Gradually, CEO Assures
MTN Ghana has revealed plans to gradually retire its legacy 2G and 3G networks, with a commitment to giving subscribers sufficient time to transition to more advanced technologies. Speaking at the Digital Africa Summit held in Accra, Chief Executive Officer Stephen Blewett emphasized that a considerable portion of MTN’s customer base still relies on older-generation...
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Cedi’s Stellar Run Stalls Amid Rising Year-End Import Demand
The Ghanaian cedi’s impressive run as the world’s top-performing currency has been curtailed by a sharp rise in demand for U.S. dollars, as businesses rush to settle import bills ahead of the festive season. Bloomberg data reveals that the cedi, the official currency of Africa’s leading gold exporter, has depreciated by 13% this quarter, marking...