BUSINESS

The Bank of Ghana has reminded the public that it is illegal for companies, institutions and individuals to engage in foreign-exchange business without a licence issued by the central bank or price, advertise, receive or make payments for goods and services in foreign currency in Ghana, without written authorisation from the regulator. Such violations, according to the BoG, are punishable ...

The Finance Minister under erstwhile Mahama administration, Seth Terkper, says that the Akufo-Addo administration should have utilized the nearly six billion dollars accrued from COVID-19 judiciously. Speaking to Francis Abban on Morning Starr, Mr. Terkper disclosed that the Akufo-Addo- led administration could have used th COVID-19 monies to revive Ghana’s ailing economy during the pandemic. Lands For Sale In Acres ...

Even before the Electronic Transaction Levy (E-levy) takes effect next month, available data show that the mobile money platform has lost about GH¢10billion in value between November 2021 and January 2022 – a development that raises serious concerns about the new tax’s ability to rake in the anticipated revenue. According to the Summary of Economic and Financial data (March 2022) ...

Former Finance Minister Dr Kwabena Duffuor has said the NPP government has forced the electronic transaction levy on Ghanaians because they turned a deaf ear to wise counsel from economic experts such as himself. Lamenting on his Facebook wall the morning after the e-levy was passed, the former Governor of the Bank of Ghana said: “The NPP has progressed in ...

The National Executive Committee (NEC) of the National Association of Sachet and Packaged Water Producers (Naspawap) in consultation with stakeholders has reviewed the prices of bottled and sachet water across the country. The price review takes effect from Friday, 1 April 2022. According to the association, “the price reviews have been necessitated by the rising cost of inputs, such as ...

The Chamber of Bulk Oil Distributors (CBOD) has announced that the price of petroleum products will go down by GHS1 from April. The chamber said it is in talks with the Bank of Ghana (BoG) for Ghanaians to see a substantial reduction in fuel prices at the pump next month. The Chief Executive Officer of CBOD, Mr Senyo Hosi, made ...

President Nana Addo Dankwa Akufo-Addo has assured that Ghana’s economy will soon rebound from the ravages of COVID-19. He indicated that the government has put in place a number of policies to grow the economy. In his 28th Covid-19 update on Sunday March 27, he said “As your President, I assure you that, sooner rather than later, our economy will ...

Former finance minister Dr Kwabena Duffuor has pledged his support for the University Students Association of Ghana’s (USAG) medical outreach program to offer medical screening and engage in health advocacy for students. The project is being executed in partnership with Ghana Communication Technology University, Ghana AIDS Commission, UNFPA, The Health Factor Foundation, LenzVision Optical Center & Patho-Suppressors Foundation dubbed, “USAG ...

The NDC Member of Parliament for Ajumako-Enyan-Esiam, Cassiel Ato Forson, says the proposed austerity measures outlined by the Minister of Finance, Ken Ofori Atta are cosmetic and empty. According to the MP, the Minister should have rather advised the government to come out with more stringent measures rather than what was churned out. “The fiscal measures announced today are just ...

In the latest version of its product upgrades, Ghana’s leading name in bulk SMS messaging, Hubtel, has released features to enable users collect payment and send money to as many contacts at the same time via SMS. Head of Product at Hubtel, Patrick Asare-Frimpong, announcing this update, said, “In Ghana, mobile money and bank accounts are the most common ways ...