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Ghana has been identified as the second most indebted African nation to the International Monetary Fund (IMF) in terms of concessional loans. According to the IMF’s Quarterly Finances, the country’s outstanding indebtedness to the institution reached US$2.914 billion as of October 31, 2024, representing 17% of total African borrowings from the IMF. Only the Democratic Republic of Congo, with an indebtedness of US$2.256 billion surpassed Ghana. Zambia followed in third place with US$1.272 billion in outstanding loans. This revelation comes as Ghana grapples with a severe economic crisis that led it to seek a US$3 billion bailout package from the…

The government of Ghana is expected to reduce its borrowing from the Treasury bill market in 2025, according to Databank Research. In its 2025 Ghana Market Outlook report, the financial services firm projects borrowing of approximately GH₵200 billion, down from an estimated GH₵220 billion in 2024. This translates to an average weekly borrowing of GH₵3.9 billion, compared to GH₵4.2 billion in the previous year. Databank attributes this decline to “improved access to alternative funding sources and a strategic pivot towards long-term securities.” This shift aligns with Ghana’s broader economic recovery efforts and increased access to international financial markets, providing the…

Energy analyst, Benjamin Nsiah has raised concerns over the past Akufo-Addo government’s role in the energy sector crisis, pointing out significant shortcomings in addressing electricity consumption and sector funding. Mr. Nsiah highlighted that the government is a major consumer of electricity, accounting for approximately 80% of the debt owed to the Electricity Company of Ghana (ECG) annually. “In a year, government consumes about 80% of the debt and one would think that the government would find a way to balance these shortfalls in the energy sector budget, but it has failed to do so,” he said. He further criticized the…

Ghana is ready to renegotiate with the United States (US) Government for possible reinstatement of US$190 million under the Millennium Challenge Corporation (MCC), that had been devoted to the electricity sector. President John Dramani Mahama disclosed this during a courtesy call on him by Mr Ousmane Diagana, the World Bank Vice President for West and Central Africa, in Accra. Mr Diagana was in Accra to witness the inauguration of President Mahama at Independence Square, which took place on January 7. Mr Mahama reiterated that there was a need for his administration to change the systems in the energy sector to…

Among the lot is a Labour Consultant, Austin Gamey, who has praised Dr Ato Forson’s expertise and his suitability as Finance Minister-designate to tackle Ghana’s economic challenges.

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…