Category: Business

The Institute for Energy Security (IES) is predicting a 3% to 10% reduction in prices of fuel from tomorrow, March 16, 2023. According to the IES, their projection is due to a decline in the activities of price indicators in the last two weeks. The IES in a statement opined that Ghanaians should expect a...

The Pensioner Bondholders Forum has expressed disappointment over government’s failure to pay out matured coupons to investors who did not tender their bonds under the Domestic Debt Exchange Programme. This is the second time the government has failed to pay coupons that matured between February 6 and 20. In an interview with Citi News, Dr....

Executive Director of Dalex Finance, Joe Jackson, has lauded government’s decision to reject bids made for the 91,182 and 364 day bills with yields over 35% in a recent T-Bills auction on March 3, 2023. This, he notes is a crucial step towards addressing the high interest rates on government securities. Government rejected all the...

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....