BUSINESS

International rating agency, Fitch, has downgraded Ghana’s Long-Term Foreign-Currency (LTFC) Issuer Default Rating (IDR) to ‘CCC’ from ‘B-‘. In a report sighted by GhanaWeb, it noted that the downgrade reflects the deterioration of Ghana’s public finances which has contributed to a prolonged lack of access to Eurobond markets. This, Fitch said …

The Ghana Union of Traders Association GUTA has denied threatening to embark on massive demonstration against the Akuffo Addo lead government over the free fall of the Ghana cedi on international market. According to them, protesting against government in these trying times will not change the fortunes of the Economy. …

Tesla boss Elon Musk has sold another 7.92 million shares in the electric car maker, worth around $6.88bn (£5.7bn). The sales took place after the firm’s annual shareholder meeting last week, regulatory filings show. Mr Musk says he needs the money in case he is forced to buy Twitter for …

    The Mennonite Economic Development Associates (MEDA) Ghana Country Director Robert Austin, has called for an improvement in the productivity of cashew plantations in Ghana. He made the call at a sensitization program on a new Code of Practice (CoP) for cashew planting material production on Wednesday, August 3, …

To help shore up the foreign exchange reserves of the Bank of Ghana, starting September 1st, the Bank of Ghana will purchase gold from gold mining companies in the country at world market prices but payment will be made in cedis. This was the agreement between the Economic Management Team, …

Former President, John Dramani Mahama has said the continuous depreciation of Ghana’s cedi “in recent days, clearly shows that the mid-year review of the 2022 budget failed to win back the confidence of the investor community”. The cedi as of August 9 is selling at GH¢9.12 to the US Dollar. …

UPDATE: GT Bank Ghana has rectified an earlier report suggesting that it will no longer accept ’50 and 20 paper notes’ for banking transactions effective August 31. The bank in an email to its customers clarified that the currency denomination it meant to refer to was the UK pounds sterling which …

    Presidential Aspirant of the New Patriotic Party, Hon Joe Ghartey has said that the country should do all it can to continue to attract foreign investment. Hon. Ghartey who is the author of Ghana’s leading legal text on foreign investment, Doing Business and Investing in Ghana, made this …

Professor of applied economics at Johns Hopkins University-USA, Steve Hanke, has suggested that the country’s economic outlook does not look favourable. The academic in a Twitter post on August 6 pointed to the depreciating Cedi as the reason for his claim. In his view, the country needs a currency board …

The Registrar of Companies, Jemima Oware, has indicated that dead people still persist as shareholders and directors of some companies in the country as many companies have failed to update their details and file annual returns. The registrar explained that filing of annual returns simply means updating the company registration …