Author: Admin
The Bank of Ghana and the National Bank of Rwanda have signed a Memorandum of Understanding (MoU) to introduce a groundbreaking license pass-porting framework and cross border payment interoperability for regulated financial technology (fintech) companies. The signing ceremony took place on February 25, 2025, at the Inclusive Fintech Forum in Rwanda, with Governor of the National Bank of Rwanda, Mr. John Rwangombwa and key officials from the National Bank of Rwanda and the Bank of Ghana in attendance. The Forum took place from 24 to 26 February 2025. The license pass-porting framework is designed to facilitate easier cross-border operations for…
The Minister for Energy and Green Transition, John Abdulai Jinapor, on Wednesday, 26th February 2025, held discussions with key partners of the 1,560-square-kilometre East Cape Three Point Block. The meeting took place on the sidelines of the International Energy Week in the United Kingdom, focusing on the development of Ghana’s offshore oil and gas sector. The East Cape Three Point Block, situated in the Offshore Tano Basin, is currently operated by Medea Development Ltd and Cola Natural Resources. Potential partners, including Strategic Fuel Fund, Safri West Energies, and Jade Energy, reaffirmed their commitment to exploring the field with the goal…
In the wake of changes in Ghana’s energy sector, experts have called for increased cross-representation on boards of key entities within the energy value chain. One such advocate is the Africa Sustainable Energy Centre (ASEC) which argues that improved governance structures will enhance transparency, accountability, and operational efficiency in the sector. The energy think tank argues that diversifying the members of these boards offers the opportunity to make decisions that are vetted by people with various unique technical perspectives. According to ASEC, the distinct roles various energy players play allow for their “decisions to have significant implications for the broader…
b Governor of the Bank of Ghana (BoG), Dr Johnson Asiama has said that the BoG is going to realign its regulatory mandate to promote greater levels of financial intermediation to support economic growth. While the banking sector remains broadly stable after the recent crises, he said, it requires targeted reforms to address legacy challenges and ensure continued resilience. Under his stewardship, he said, the central bank shall enforce strict prudential regulations while fostering an enabling environment for responsible lending and innovation in the banking sector. “We shall: tackle the problem of high non-performing loans (NPLs) and weak risk management…
Governor of the Bank of Ghana, Dr Johnson Asiama has extended his gratitude to His Excellency, the President and Her Excellency the Vice President for his appointment, and to the Council of State for the endorsement. During his swearing-in on Tuesday, February 25, he assured that under the leadership of President John Dramani Mahama, Ghana is embarking on an economic reset. “This reset is about stabilizing the macro-economy and addressing key issues such as high inflation, persistent fiscal deficits, and excessive debt levels,” he said. He stated that achieving this stability will require monetary and exchange rate policy reforms,…
The Ghana Union of Traders’ Associations (GUTA) has expressed optimism in the upcoming 2025 Budget Statement of the new Government. GUTA says they expect the budget to be business-friendly. In a statement issued by its President Dr Joseph Obeng, GUTA said that the assurance given by the Government to reduce the cost of doing business in the country by streamlining the tax system and effectively reducing taxes, duties and levies is a step in the right direction. “With this approach, we fervently expect that all nuisance taxes will be scrapped to considerably prune down the number of numerous taxes that…
An Economist, Professor Godfred Bokpin, has projected a rise in the country’s Value Added Tax (VAT) to as much as 18% or slightly lower in the 2025 budget, as the government considers scrapping certain taxes. The expected removal of the E-Levy, COVID-19 levy, and betting tax has raised concerns about how the government intends to bridge the resulting revenue gap. Speaking in an interview with Citi Business News, Professor Bokpin suggested that the government may extend VAT to cover financial services as part of efforts to offset the expected shortfall. He believes the government will also likely restructure…
Adnan Adams Mohammed President John Dramani Mahama has officially opened the maiden National Economic Dialogue 2025 taking place in Accra. The president, who chaired the opening ceremony and also the keynote speaker, in his address noted that, Ghana is at critical crossroads with its economic growth and needed bold solutions and sacrifices to restore the economy on growth trajectory. “… Building economy that works for everyone should be our focus”, he intimated. “NED create a powerful platform where government actors, the private sector, the academia and Civil society organisations meet yo dialogue on national reforms” President Mahama further urged the…
“Rising sea levels have exacerbated vulnerabilities in coastal areas, leading to wetland flooding, habitat loss, and community displacement. Consequently, coastal protection has emerged as a national priority.”
Key among the initiatives is the continued enforcement of measures to curb illegal, unreported, and unregulated (IUU) fishing, which threatens marine biodiversity and the livelihoods of our hardworking fisherfolk.