Author: Admin
Jinapor emphasized that this directive is backed by the Chief of Staff and aims to halt financial leakages within the company.
He vowed to prioritize the welfare of Ghana’s youth, focusing on job creation to tackle the country’s unemployment rate during his swearing-in ceremony last week.
After witnessing the devastation caused by the recent fire at the Kantamanto Market, Alan Kyerematen, leader of the Movement for Change and a prominent advocate for economic transformation, has called on the government to establish a $2billion Market Infrastructure Development Fund. Speaking to journalists, he described the fund as a sustainable solution to financing the development of modern market infrastructure across the country, which he sees as critical to revitalising commerce and distributive trade. This recommendation aligns with advice Alan had previously offered to President John Dramani Mahama during a courtesy call in his office as the President-Elect. He suggested that…
The Bank of Ghana (BoG) has released the list of authorized foreign exchange (FX) brokers permitted to operate within the Ghana Interbank Forex Market for the 2025 calendar year. This announcement complies with Section 3.13.1 of the Ghana Interbank Forex Market Conduct rules, which mandates prior approval for local and international FX brokers. In a notice signed by Ms. Sandra Thompson, Secretary of the Bank of Ghana, 15 FX brokers have been granted authorization to operate from January 1, 2025, to December 31, 2025. The authorized brokers are: IC Securities SIC Brokerage Black Star Brokerage Serengeti Limited Obsidian Acherner Regulus…
In a world increasingly driven by technology, access to electronic learning resources has become a crucial factor in shaping the futures of young people. ‘Gadgets4Ghana’ (G4G), a newly launched non-profit organisation, is stepping up to address this gap with the introduction of its donation drive aimed at equipping children and young adults with the tools they need to thrive in today’s digital age. The G4G initiative, a project put together by Kofi Fynn, Nigel Nettey, Maame Adwoa Owusu-Brefo, and Joshua Agbey, all students of SOS-Hermann Gmeiner International College and Kwamina Fynn, a student of the Ghana International School operates on…
Banks in Ghana and Nigeria will continue to shift from traditional banking operations to digital banking services in 2025 and beyond. According to Deloitte West Africa, mobile banking, online platforms, and digital payment solutions will dominate the sector, driven by the high adoption of mobile devices and internet penetration. In its Sneak Preview of 2025 report, the professional services firm said traditional banks will increasingly invest in digitizing their operations to meet consumer demand for convenience and efficiency and to compete more favourably with financial technology firms (fintech). It however warned that the expansion in digital banking services and use…
The Economic and Organised Crime Office (EOCO) has frozen the acquisition process of the Prestea-Bogoso Mine by Heath Goldfields Limited, citing ongoing investigations into alleged fraudulent activities surrounding the transaction. In a letter dated 23rd December, 2024, EOCO requested the Minerals Commission to produce documents and provide information related to the registration process of the acquisition. EOCO specifically asked for details concerning the acquisition by Heath Goldfields Limited and any other documents related to the mine’s transfer. The investigation, initiated by EOCO, seeks to uncover the veracity of the acquisition and whether it was carried out through fraudulent means. As…
The Bank of Ghana injected about US$2.8 billion in the foreign exchange market between August 2024 and December 2024. It subsequently auctioned US$480 million to the Bulk Oil Distributors on the back of foreign exchange inflows from multilateral partner. However, the forex market started witnessing stability in October, reversing some losses incurred in the first eight months of 2024. As a result, the Ghana cedi trimmed its year-to-date losses to 21.58% versus the US dollars, closing the year at a mid-rate of GH¢15.60 to the dollar. The unit also shed 20.78% year-to-date against the pound and 17.70% to the euro…
The consistent debt commitments are expected to help Ghana lift its Long-Term Foreign-Currency (LTFC) Issuer Default Rating (IDR) from its current Restricted Default status to a triple C. This should further boost investor confidence in the near term. Databank Research said it remain optimistic that the likelihood of a default is low, given the sovereign’s strong commitment to restoring its creditworthiness through International Monetary Fund-driven fiscal reforms, strategic debt management, and strong economic growth. Last week, the Government of Ghana paid Eurobond coupons totalling US$346 million as part of the restructuring terms under its US$13 billion restructured external debt. This…
President John Mahama has assured that his administration will champion policies that will propel the growth of the private sector to lead the country’s economic development. Speaking at the Independence Square after he was sworn in as Ghana’s sixth President of the Fourth Republic, Mr Mahama pledged to provide an enabling environment for the youth to create jobs and increase employment. He promised to make youth employment and skills development a catalyst for economic growth. “Our policies will be tailored to sustain innovation and foster industry that engages today’s young mind and equip them with the skills needed for tomorrow’s…