BUSINESS

A financial analyst, Johnson Annan has called on Ghanaians to ignore the commentaries by the Director of Research at the Institute of Economic Affairs (IEA),Dr. Kwakye and others who have criticized the Bank of Ghana(BoG) for supporting government expenditure in 2022. The BoG received flak from critics including Dr Kwakye who said the central bank’s action was wrong. But Mr ...

Regular readers would recall a recent tweet about whispers floating around Accra’s political alleys about the role of fixers and go-betweens in Ghana’s Vice President’s vaunted “Gold for Oil” initiative. A bit earlier, we explored the merits and prospects of the whole Gold for Oil program in some detail. When the above tweet was made, the Chamber of Bullion Traders, a gold ...

The Minister of Finance Ken Ofori-Atta has been told to sound appealing to pensioners to accept their inclusion in the Domestic Debt Exchange Programme (DDEP). A Finacial analyst, Mr Joe Jackson said although the government is caught in a difficult situation as it seeks to close a deal with the International Monetary Fund (IMF), it must also take actions to ...

A former Deputy Chief Executive Officer (CEO), Thomas Manu has asked Fidelity Bank to officially states its position on GH¢10 billion ESLA PLC bonds. In a letter written to the bond trustees of the Fidelity Bank by his lawyer, Martin Kpebu on Monday, February 6, he wondered why the trustees did not object to the inclusion of the said bond ...

The Institute for Energy Security (IES) is predicting between 7% and 13% jump in the prices of petrol, diesel and Liquefied Petroleum Gas (LPG), from February 1, 2023, for the next two weeks. This means petrol will sell at about ¢15 per litre, whilst diesel will go for over ¢17 per litre. According to the IES, the rise in domestic ...

A Vice President of Imani Africa Bright Simons has described the agreement between the government of Ghana and the Ghana Insurers Association regarding the dept exchange participation as landmark. In a tweet, Mr Simons said “In a spectacular breakthrough, the government of Ghana reaches landmark deal with insurance firms, further increasing the debt exchange participation rate and the overall debt ...

A former Executive Director of the Standard Chartered Bank, Alexander Kofi-Mensah Mould, has stated that the Bank of Ghana (BoG) is reporting manufactured inter-bank exchange rates – the rate at which banks transact large ticket forex deals with each other – thereby encouraging a two tiered forex pricing mechanism in the country, in order to manipulate data. According to Mr ...

The Ghana Bondholders Forum has reaffirmed the need for government to exclude individual bondholders, including individuals and Collective Investment Schemes, who account for less than 11% of the eligible bonds. According to the Forum, with the banks onboarding the Domestic Debt Exchange (DDE) Programme, the government is set to reach its 80% target, and as such they must be exempted ...

A Vice President of Imani Africa Mr Bright Simons has said that the government has still not made any progress with insurance firms, offshore investment and individuals regarding the Domestic Debt Exchange programme despite the agreements it reached with the Ghana Association Bankers (GAB). On Monday, January 23, the Government of Ghana and the GAB reached an agreement on the new terms ...

The financial sector cleanup that was undertaken by the Bank of Ghana (BoG) in collaboration with the Ministry of Finance which resulted in the collapse of nine domestic banks and several Microfinance companies, badly affected the governing New Patriotic Party (NPP) in the 2020 general elections, Member of Parliament for Okaikwei Central, Patrick Yaw Boamah, has said. He noted that ...