BUSINESS

The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has increased the policy rate by 250 basis points from 14.5% to 17%. This comes after the Committee of the Bank of Ghana, held its 105th meeting from Wednesday, March 16, to Friday, March 18, 2022, to review economic developments of the …

The International Monetary Fund (IMF) has noted that global food prices were at record highs before the war in Ukraine. The IMF said the Russia-Ukraine conflict will further increase costs and inflation more broadly. Since the outbreak of the warfare between Russia and Ukraine, prices of commodities especially, crude oil …

An economist has called on Ghanaians to vehemently reject any attempt by the government to seek the assistance of the International Monetary Fund (IMF) in the wake of Ghana’s collapsing economy. According to Mr Yaw Modey, another IMF policy will not serve the interest of the ordinary Ghanaian. He argued …

Businessman and politician, Dr Papa Kwesi Nduom has said that his bank, GN Bank, that was collapsed during the banking sector cleanup exercise in 2019, should be brought back. In a Facebook post on Saturday March 19, he said “Indigenous, Home Grown Product.#Bring Back GN Bank…The People’s Bank!.” During the …

Kenya said Thursday it was investigating allegations that thousands of donated condoms, mosquito nets and life-saving medicines were stolen from a government-run warehouse and then sold on the black market. The items were donated by the Geneva-based aid body Global Fund which has disbursed over $1.4 billion to Kenya since …

Finance Minister Ken Ofori-Atta is expected to brief Parliament on various steps the government is taking to address challenges facing the economy. Currently, President Nana Addo Dankwa Akufo-Addo is chairing a crunch meeting with his ministers, MPs, as well as members of the governing NPP to find solutions to the challenges facing the country at the …

The Presidency has debunked media reportage that the government will be considering an IMF bailout as President Nana Addo Dankwa Akufo-Addo chairs a cabinet retreat that started on Thursday, March 17 and is expected to end on Sunday, March 20, 2022. Ghana is currently faced with economic difficulties that have necessitated a …

The Africa Union’s (AU) quest to establish an African Credit Rating Agency for the continent through the African Peer Review Mechanism (APRM) is likely to be instituted this year, CEO of the organisation Professor Eddy Maloka has said. Prof. Maloka was addressing participants at a sensitisation meeting on APRM support …

The Ghana Private Road Transport Union (GPRTU) is planning to increase transport fares by 20%, this has been hinted at by the Union’s General Secretary, Mr. Godfred Abulbire. According to Abulbire, his outfit has already sent a letter to the Ministry of Transport to request a meeting following the latest …

Managing Director of GIHOC, Maxwell Kofi Jumah, has stated that his company will continue increasing prices as long as inflation keeps rising. He explains that this has become necessary due to the increase in prices of raw materials and other production resources. According to him, the company needs to be …