Category: Business

South Africa’s largest supermarket chain, Shoprite Holdings, has confirmed its decision to divest from its operations in Ghana and Malawi, marking another chapter in its gradual retreat from several African markets. In a statement released Tuesday, the retail group announced that it had received a binding offer in June for its Ghanaian assets, which include...

The International Monetary Fund (IMF) has renewed its call for Ghana and other Sub-Saharan African nations to establish operationally independent central banks. According to the Fund, this is a critical step toward ensuring long-term economic growth and maintaining price stability across the region. During the World Economic Outlook update held in the United States, IMF...

Ghana’s overall public debt saw a notable reduction during the first six months of 2025, based on fresh figures released by the Bank of Ghana. The nation’s debt burden shrank by GH¢139 billion, decreasing from GH¢752.1 billion in January to GH¢613.0 billion by the close of June. This reflects a major shift in the country’s...

The Ghana National Chamber of Commerce and Industry (GNCCI) is appealing to the Bank of Ghana (BoG) to lower the Monetary Policy Rate by a minimum of 300 basis points (3%) in order to stimulate economic activity. The Chamber points to improving macroeconomic indicators and the necessity of loosening the current restrictive monetary stance. In...

Ghana’s economy is showing strong signs of recovery, according to Finance Minister Dr. Cassiel Ato Forson, who delivered the 2025 Mid-Year Budget Review to Parliament earlier today. In his address to lawmakers, Dr. Forson outlined a series of encouraging fiscal indicators, including robust GDP growth, declining inflation, and renewed investor confidence. “We have made significant...

Financial irregularities within public boards, corporations, and statutory bodies have seen a dramatic surge, rising by 109% in 2024, according to the latest report from the Auditor-General. The report, which covers the financial year ending 2024, indicates that the total value of irregularities ballooned from GH¢8.8 billion in 2023 to a staggering GH¢18.4 billion. This...

The Civil Society Organizations (CSOs) is urging the government to introduce stronger policy measures to stabilize the Ghanaian cedi and to include a sunset clause in the proposed Energy Sector Levy (Amendment) Bill, 2025. Abdul Karim Mohammed, a representative of the Economic Governance Platform, emphasized the importance of making the levy time-bound to enhance transparency...

The Bank of Ghana (BoG) has allayed mounting fears within the business community over reported difficulties in accessing foreign exchange, particularly through commercial banks. This assurance follows growing concerns raised by members of the Ghana Union of Traders’ Association (GUTA), who say limited access to forex is hampering their ability to carry out critical international...

The Ministry of Energy and Green Transition has announced a major breakthrough in Ghana’s energy sector following the successful upgrade of ENI’s gas infrastructure, which has increased daily gas supply from 245 million to 270 million standard cubic feet. The Ministry described the development as a “significant milestone” in the country’s quest for energy security,...