NEWS

Edem Senanu, Co-chair of Citizens Movement against Corruption, has observed that President Nana Akufo-Addo could have avoided his commendations for Attorney-General and Minister of Justice Godfred Dame Yeboah due to his alleged professional misconduct in the ongoing ambulance purchase trial. The High Court judge, Justice Afia Serwah Asare-Botwe, presiding over the ambulance purchase trial, which involves Minority Leader Cassiel Ato ...

The Chairman of Groupe Ndoum and the owner of the defunct Gold Coast Fund Management Company, Dr. Papa Kwesi Ndoum, is claiming that the government still owes two of his companies and other subsidiaries over GH¢7 billion. This follows the revocation of licenses by the Securities and Exchange Commission (SEC) of 53 fund management companies, including Gold Coast Fund Management, ...

Ghana’s cocoa regulator will borrow up to $1.5 billion by September to finance 2024/25 cocoa purchases and compensate for low output, two COCOBOD sources with knowledge of the arrangement said on Sunday. The world’s second-largest cocoa producer after neighbouring Ivory Coast uses an annual syndicated loan to finance bean purchases from farmers. It is usually agreed at the start of ...

To deal with the high demand pressures on the foreign exchange market, the Bank of Ghana (BoG) has taken steps in the past few weeks to directly absorb foreign exchange needs of some corporate institutions, and this has led to a reduced pipeline demand for foreign exchange from the commercial banks. The Bank said it is fully aware of the ...

It is not fair for Finance Minister Mohammed Amin Adam to blame currency speculation and the need for more money and the need to borrow more to service Ghana’s debts, for the falling streak of the Ghana cedi, economist Prof John Gatsi has said. The Ghanaian cedi has depreciated by about 14.6% against the US dollar as of May 2024, ...

Mr Alan Kyerematen, the founder and leader of the Movement for Change, has announced plans to establish a fixed exchange rate regime for import duty payments in Ghana for a period not exceeding six months. This policy, part of his first-year Economic Recovery Plan, aims to reduce the high level of imported inflation in the economy. Mr Kyerematen presented this ...

The CEO of the Ghana National Petroleum Corporation (GNPC), Joseph Abuabu Dadzie, has responded to concerns about Ghana’s declining crude oil production, as highlighted in the 2023 annual report by the Public Interest Accountability Committee (PIAC). During his inspection of GNPC’s operational headquarters in Takoradi, Mr. Dadzie downplayed the immediate impact of the decline, but stressed the need for increasing ...

Former president John Dramani Mahama has expressed concern about the continuous depreciation of the local currency against the dollar and other major currencies. He criticised the current government for failing to implement effective measures to curb the rapid decline of the currency against major trading currencies, particularly the U.S dollar. Speaking at the 8th CEO Summit in Accra on Monday, ...

Unlike the previous National Democratic Congress (NDC) administration that created unemployment with the erratic power supply (Dumsor), the current Akufo-Addo administration has created several jobs, flagbearer of the New Patriotic Party (NPP) Vice President Dr Mahamudu Bawumia has said. Dr Bawumia said this while responding to Mr Mahama at the 8th Ghana CEO Summit underway in Accra. Mr Mahama had ...

Vice President Dr Mahamudu Bawumia has taken a swipe at former President John Dramani Mahama during the 8th Ghana CEO Summit, asserting the Akufo-Addo administration’s significant achievements in advancing the country’s development agenda. Dr Bawumia emphasised that the current government’s developmental projects are tangible and can be easily verified, contrasting them with what he termed the “guinea fowl” projects of ...