BUSINESS

The Finance Minister, Dr. Mohammed Amin Adam, was again absent from Parliament today, failing to present the anticipated mini-budget. This marks the second consecutive day that the scheduled budget presentation has been delayed since the house was recalled yesterday. The absence of the Majority Leader, Alexander Afenyo-Markin, and other key members of the New Patriotic Party (NPP) front bench further ...

TapTap Send, a major player in Africa-focused money transfers, is calling for a more collaborative regulatory environment in Ghana following a recent one-month suspension by the Bank of Ghana (BoG). The suspension, triggered by an alleged violation of banking and forex laws concerning a cedi-based wallet for Ghanaians abroad, resulted in an estimated US$100 million loss in remittances during November ...

An Economist, Dr Theo Acheampong has stated that there will be minimal impact on public finances when the e-levy and Covid levy are removed. In his analysis of these two taxes, he explained that together, they raised GHS3.259 billion or USD 296 million in 2023, accounting for 2.4% of total domestic revenue or 0.4% of Ghana’s 2023 Gross Domestic Product ...

President-elect, John Dramani Mahama, has reassured Ghanaians that his administration will not abandon the ongoing International Monetary Fund (IMF) programme. In an interview with VOA on Saturday, December 14, Mr Mahama emphasized the importance of maintaining the IMF-backed economic reforms while considering potential adjustments to better align with the country’s development needs. Acknowledging the current economic difficulties facing Ghana, Mahama ...

President-elect John Dramani Mahama has acknowledged the gravity of Ghana’s economic challenges, describing the journey to recovery as arduous but achievable. Speaking during a thanksgiving service at the Assemblies of God Church in Accra on Sunday, 15 December 2024, Mr. Mahama expressed his commitment to steering the nation out of its economic difficulties while seeking divine guidance to lead effectively. ...

The Metropolitan Chief Executive of the Kumasi Metropolitan Assembly (KMA) in the Ashanti Region, Samuel Pyne, has dismissed claims that the Kejetia Market will be closed on December 7, 2024, to facilitate traders’ participation in the general elections. Describing the allegations as “false and baseless,” Mr. Pyne clarified that no such directive has been issued by the Assembly or any ...

According to the Transport Operators Association of Ghana, “in response to the continuous rise in fuel prices,” it is “compelled to announce a 15% increase in transport fares”. The increment, per a Wednesday, December 4, 2024, statement by the association comes into effect tomorrow, Thursday, December 5, 2024. “This decision has become necessary as we face increasing operational costs, making ...

Renowned finance scholar, Prof Alex Annan Abakah, from Bentley University, has debunked widespread claims that the Russia-Ukraine war and the COVID-19 pandemic are the main contributors to the depreciation of the Ghanaian cedi. Speaking at a policy dialogue organized by the Public Financial Management (PFM) Tax Africa Network in Accra, he emphasized that the cedi’s decline is largely attributed to ...

The Bank of Ghana (BoG) has officially introduced the Ghana Gold Coin (GGC) as a new financial instrument to diversify investment options for the public.Tourism packages As of November 26, 2024, the coins are available in three denominations: 1.00 oz, 0.50 oz, and 0.25 oz. Their prices are set at GH₵45,020.48, GH₵22,409.74, and GH₵11,188.12, respectively. The pricing is based on ...

Finance Minister Dr Mohammed Amin Adam has said that Ghana’s economy has come back to life following the difficulties faced in the last three years. He said macroeconomic stability is fast returning to our country The Karaga lawmaker said this while speaking at a rally in Saboba in the Northern Region on Monday, November 26. “Ghana’s economy has come back ...