BUSINESS

The Bank of Ghana (BoG) has reacted to reports that the government has rolledover cocoa bills that matured Thursday, January 20, without the investors’ consent, a move that has sparked anxiety among the investor community. Investors received payments for the matured bills but their accounts were quickly debited, leading to agitations between some holders and their banks. “I received payments ...

On Thursday, 19th January 2023, a six-month Cocoa bill with face value of GH¢940.42 million matured. The Bank of Ghana (BOG) went through the usual processes to reissue on behalf of Cocobod a new six-month Cocoa bill to raise funds to cover the maturing obligation, but the auction failed and was severely undersubscribed resulting in a shortfall of GH¢ 855.42million. ...

The Chartered Insurance Institute of Ghana (CIIG) is warning that over 7.5 million policies will be affected by the Domestic Debt Exchange (DDE) programme in its current form. According to its President, Solomon Lartey, this is because more than 40% of insurance premiums are invested in government securities, particularly bonds. Speaking to the media at the Investiture Ceremony of the ...

The price of premix fuel has been increased by GH¢15 from the initial GH¢10 and a gallon is now expected to be sold at GH¢25 per gallon across the various landing beaches in the country. The increase according to the government has been necessitated by the increases in the price of crude on the international market. Nana Abrokwa Asare who ...

JoyNews can confirm that the Bulk Oil Storage and Transportation Company (BOST) has today, Thursday, January 19 started selling petroleum products procured under the gold for oil barter arrangement. Reports indicate that GOIL and other Bulk Oil Distribution Companies have taken delivery of fuel for the market. However, what is being sold today is only 20 percent of Ghana’s market ...

The Ghana Stock Exchange has approved a request by the Ghana Association of Banks on behalf of the listed Banks for the filing of 2022 audited Financial Statements to be extended by one month to April 30, 2023. This will enable the eight banks work effectively with their external auditors to achieve the audit objectives. The banks are Access Bank ...

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. That’s according to its issuance calendar for the first quarter of this year. The securities that the government will be selling are the 91-day T-bill, the 182-day T-bill and the 364-day T-bill. This is coming after the government obtained ...

Vice President Dr Mahamdud Bawumai has said that the gold for crude initiative is working effectively after Ghana received the first delivery on Sunday, August 15. The 40,000 metric tons of oil arrived at the Tema port on Sunday, January 15, 2023. This was announced by the Ministry of Lands and Natural Resources. The Energy Ministry, the Bulk Oil Storage, ...

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. Now, the price of petrol per litre is going for about ¢13.90, from ¢12.40, whilst ...

The Presidency has issued a disclaimer on the claim being made by the outgoing Minister of Trade and Industry, Alan Kyerematen to the effect that the One District, One Factory (1D1F) initiative is his brainchild. In a correspondence from the Communications Unit of the Presidency sighted by DGN Online, it stated that the claims by the Minister are false by ...