Category: Business

The Institute of Economic Affairs (IEA) is urging government to retreat from going to the International Monetary Fund for economic support. In a statement released on Friday the IEA alluded to measures that government can adopt to restore economic sanity of the country. “I suggest below measures that I believe government and Bank of Ghana...

The chief financial officer of Valley View university, Dr Williams Peprah says the Central Bank’s base lending rate since 2021 has been higher than the inflation rate. In February, the inflation rate was 15.7% before the Bank forecasted on 21st March that the Central Bank’s lending will range within 15.8% and 19.2% According to Dr...

The Electricity Company of Ghana (ECG) has commenced a revenue mobilisation exercise. The tax force leader, Mr Steven Larbi Siaw indicated that no indebted company will be left out. According to him, considering the rate at which the company (ECG) is owed by both private and public institutions, they are tasked to reduce the debt....

Real estate developer, Nana Kwame Bediako says the Central Bank should focus on the woes of Ghana’s depreciating currency. On Thursday, 10 March 2022,  Nana Bediako, popularly known as Freedom, took to his Twitter page to call on the Bank of Ghana (BoG) to focus on the falling of our cedi and not his “Freedom...

The Institute of Energy Security (IES) has predicted that the country will experience fuel shortage in the coming days due to the recent depreciation of the Cedi. The Executive Director of IES, Nana Amoasi VII, disclosed on Accra-based Citi FM that the shortage will be influenced largely by the free fall of the cedi, and...

A group calling itself Traders Advocacy Group Ghana has expressed worry over the silence of the Vice President Dr Alhaji Mahamudu Bawumia on the recent free fall of the cedi. According to the group, the cedi, in less than a quarter of the year, has depreciated drastically close to 50%. “Now a business man needs...

The Bank of Ghana (BoG) has notified the general public about a digital and virtual currency being introduced to Ghanaians called the ‘freedom coin’. BoG said that it has come to its attention that there is an impending launch of the cryptocurrency. A statement issued by BoG on 9 March 2022 indicated that, “the public...

The Al-Wa’ayul Islamie Centre of Madina West, as part of its efforts, to bridge the gap in its funding for socio-economic development is set to launch a shortcode. The shortcode, *790*40#,will serve as an easily accessible conduit for interested persons to register and make monthly donations pledge of GH¢10 or more on all mobile networks....

The Country Director for World Bank, Pierre Laporte, has said that the country started facing economic challenges before COVID-19. In its January 2022 Monetary Policy Report, the Bank of Ghana stated that the stock of public debt was equivalent to 78.4 percent of GDP at the end of 2021, up from 76.1 percent at the...