Category: Business

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...

Governor of the Bank of Ghana (BoG) Dr Ernest Addison has outlined measures that have been taken by the central bank to support domestic banks to deal with the impact of the domestic debt exchange programme on their operations. This was after the BoG carried out a stress test for the banks ahead of the takeoff of the...

The Executive Director for the Chamber of Petroleum Consumers, Ghana (COPEC), Duncan Amoah, says the price of petroleum products may see a decline if the oil secured by government is distributed this week. Price of fuel soared on Saturday, January 21, 2023, for the second pricing window after weeks of decline. This situation was attributed...

The Chamber for Bulk Oil Distributors (CBODs) wants government to urgently develop a framework to direct the gold-for-oil policy to prevent unfair treatment. Some members of the chamber have already been engaging the Bulk Oil Storage and Transportation Company Limited (BOST), to access the product, a week after the government received the first consignment under...

The Association of Ghana Industries (AGI) has made a passionate appeal to government to take steps to address the recent depreciation of the cedi to the dollar, warning if the trend continues, it could erode the gains made during the month of December 2022. The association comment is coming at a time the cedi has...

Government will borrow ¢2.42 billion in Treasury bills to refinance the upcoming maturities of ¢2.22 billion in this week’s T-bill auction. This is coming after the government obtained ¢1.72 billion from the short-term securities, from a target of ¢1.125 billion last week. The amount achieved exceeded the auction target by 52.30%, surpassing the refinancing obligation....

Some Oil Marketing Companies (OMCs) have started increasing the prices of petroleum products at the pumps. The marginal increase is due to the depreciation of the cedi and the slight increase in the price of crude oil. It is the first in about a month. The prices are, however, slightly lower at some OMCs. Now,...

The government has yet again extended the Domestic Debt Exchange (DDE) Programme. This will be the second extension given after agitations among individual bondholders to sign on to the Programme. The decision is to allow the government to further engage with these bondholders. The government had initially extended subscription to the Programme from Friday, December...