Category: Business

A member of the governing New Patriotic Party (NPP) Gabby Otchere-Darko has expressed hope that the reduction in fuel prices will last longer. The former Executive Director of the Danquah Institue stated that in December 2022, Diesel sold at GHS23.43 and Petrol for GHS17.42. As at, March 1, 2023, Diesel is selling at GHS13.49 and...

The Ministry of Finance has said that the Government of Ghana will continue to work with external creditors to advance the progress of our external debt treatment in order to ensure Ghana’s long-term macroeconomic stability. The Ministry assured the external creditors of their equal importance to the Republic of Ghana. “The newly issued bonds have...

The German government is willing to assist Ghana with the acceptance of the country’s proposal for debt cancellation with external creditors, German Ambassador to Ghana, Daniel Krull has said. This comes after Finance Minister, Ken Ofori Atta, is expected to lead a high-powered government delegation to China to plead for the acceptance of the country’s proposal for...

Vodafone Group Plc has completed the transfer of its 70% majority shares in Vodafone Ghana to the Telecel Group after successfully obtaining all the necessary regulatory approvals, including the agreement of the Government of Ghana, as a minority shareholder This is the most recent major change for the Ghanaian telecommunications company since 2008 when Vodafone...

Ghana has taken delivery of the second consignment of fuel under the gold-for-oil policy. The 40,000 metric tonnes of oil arrived at the Tema port on Sunday, February 19, 2023. This brings the total fuel received under the policy to 80,000 tonnes. The Managing Director of Bulk Oil Storage and Transportation Limited (BOST), Edwin Provencal...

The Institute of Energy Security (IES) says his prediction of fuel price reductions in the second pricing window is due to a marginal decline in international market prices. According to IES, the impact of government’s gold-for-oil policy which is intended to cushion consumers to purchase fuel at a cheaper price is yet to be felt....

The year-on-year inflation rate for January 2023 has dropped marginally to 53.6%, from the 54.1% recorded in December 2022. This is according to latest data from the Ghana Statistical Service. This is the first time in the last 19 months that there has been a reversal of the rate of increase for the year-on-year inflation....

The Dean of the School of Business at the University of Cape Coast, Professor John Gatsi, has said the time is right to open the option to alternate sources of funding through ethical finance, especially Islamic finance. Prof. Gatsi says Islamic finance – forecasted to have a total global asset value of US$4.94trillion by 2025...

Ghana has started assembling Cash-in-Transit (CIT) armored trucks to keep the country’s banks’ movement of large sums of money secure and impervious to robbery assaults. The first four vehicles that DIHOC- KE­NAKI Manufacturing Company Limited (DIKMAC) equipped at its armored vehicle assembling facility at Burma Camp in Accra are now prepared for usage. The Defence...

Some Oil Marketing Companies(OMCs) have started increasing prices of petroleum products at the pumps from today, Wednesday, February 1, 2023 as anticipated. One of the market leaders, GOIL, is now selling a litre of petrol at ¢15.25, from the previous ¢13.60. Diesel on the other hand is going for ¢15.90 per litre, from the previous...