President John Mahama has proclaimed that the Ghanaian cedi is the strongest-performing currency globally this year, as he encouraged Japanese companies to explore emerging investment prospects in Ghana. Addressing the Ghana Presidential Investment Forum held alongside the 9th Tokyo International Conference on African Development (TICAD IX) on Wednesday, Mahama said Ghana has regained macroeconomic stability...
Category: Business
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GoldBod Launches Strict Enforcement of Receipt Requirement for Licensed Gold Buyers
The Ghana Gold Board (GoldBod) has officially launched a nationwide enforcement campaign requiring all licensed gold buyers to issue GoldBod receipts for every transaction. This move comes after several delays and an extended grace period granted to traders to regularize their operations and secure the appropriate licences to continue trading legally. In a statement issued...
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BoG Imposes 5-Year Credit Ban on Wilful Loan Defaulters
The Bank of Ghana (BoG) has introduced stringent measures aimed at curbing the rising tide of non-performing loans in the banking sector. Under the new directive, individuals who deliberately refuse to repay loans despite having the capacity to do so will be barred from accessing credit from any regulated financial institution for a period of...
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Shoprite to Exit Ghana and Malawi Amid Strategic Realignment
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...
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IMF Urges Ghana, Sub-Saharan Countries to Establish Independent Central Banks
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...
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National Debt: Ghana Slashes GH¢139BN In First Half Of 2025 – Bank Of Ghana Data
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...
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GNCCI Urges Bank of Ghana to Slash Policy Rate by 3% to Spur Business Growth
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...
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Domestic Bond Market to Reopen in August 2025 – Finance Minister
Finance Minister Dr. Cassiel Ato Forson has unveiled the government’s intention to relaunch the domestic bond market as part of an updated debt management framework designed to lower borrowing expenses and enhance fiscal resilience beginning August 2025. While delivering the 2025 Mid-Year Budget Review to Parliament on Thursday, July 24, Dr. Forson stated that the...
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Ghana’s Economy Is Showing Signs Of Strong Recovery – Finance Minister
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...
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Public Sector Financial Irregularities Jump by 109% in 2024 — Auditor-General Raises Alarm
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...