Business

Latest data from the Ghana Statistical Service has revealed a decline in inflation, with the February figure standing at 23.2%. This represents a 0.3 percentage point decrease from the 23.5 percent recorded in January. During a press briefing in Accra on Wednesday, Government Statistician Prof. Samuel Kobina Anim provided a breakdown of the figures, explaining that the 23.2 percent indicates ...

The Executive Secretary of the Chamber of Petroleum Consumers Ghana (COPEC), Duncan Amoah, has called on the government to be transparent regarding the underlying financial challenges in the power sector. His comments come at the back of an admission from GRIDCo that the blackout in some parts of the country on Sunday, March 3, 2024, was due to faulty equipment ...

The Ministry of Finance is pleading with President Akufo-Addo not to assent to the recently passed anti-LGBTQ bill by Parliament. In a press release on Monday, March 4, the Finance Ministry cautioned that approving the bill could result in significant financial consequences for Ghana. According to the Finance Ministry’s statement, Ghana stands to lose a substantial amount of World Bank ...

The Electricity Company of Ghana (ECG) has cautioned customers to refrain from making payments to specific mobile money accounts purportedly linked to ECG services. Management revealed that some individuals have been contacting customers, soliciting payments to a designated MoMo number as a prerequisite for accessing ECG services. In response, ECG released a disclaimer on Thursday, February 22, 2024, advising customers ...

Recent data from Numbeo has illuminated Ghana’s position within the intricate tapestry of Africa’s cost of living landscape, offering insights into both its regional standings and underlying economic dynamics. Ranked 20th among 24 surveyed countries, Ghana emerges as one of the nations boasting a relatively lower cost of living across the continent. However, within the West African sphere, Ghana occupies ...

Former Finance Minister, Seth Terkper, has stated that the current tax regime in Ghana is the most severe and punitive in the nation’s history. The opposition National Democratic Congress has accused the New Patriotic Party government of introducing over 50 new taxes since 2017. The continuous imposition of taxes has sparked public outrage in Ghana. The most recent taxes slapped on Ghanaians ...

The National Petroleum Authority (NPA) successfully held the maiden Open Competitive Tender for LPG imports into the country on Monday, January 29th, 2024. The winning tenderer submitted the lowest premium of USD30.39/MT for the four (4) Lots that were tendered for the period from March to June 2024. This marks a significant drop from the current premiums, which range between ...

The World Bank has approved $300 million in funding to help Ghana’s economic recovery, it said in a statement on Tuesday. The decision comes after the West African country reached a deal to restructure $5.4 billion of loans with its official creditors, a milestone in Ghana’s quest for debt relief as it charts its way out of the worst economic crisis in ...

The Bank of Ghana (BOG) has acknowledged receipt of US$600 million as the second tranche of Ghana’s bailout package with the International Monetary Fund (IMF). The cash meant for budget support and stabilization of the local currency, was officially credited to the Central Bank’s account today, Tuesday, January 23, 2023. This means, Ghana has received a total of US$ 1.2 ...

The public is being encouraged to ignore allegations of a supposed national increase in transportation fares, according to the Ministry of Transport. The Ministry stated in a statement released on Wednesday, January 17, that “no negotiations have taken place with the transport operators regarding a review of the transport fares.” Therefore, we strongly advise the public to ignore the alleged ...