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Tag Archives: billion

GRA auctioning COCOBOD’s chemicals, fertilizers, others over GH¢3.9 billion duty dispute

In a shocking development, the Ghana Cocoa Board (COCOBOD) finds itself in a dire financial situation as its agro products, essential for the upcoming cocoa season, are being auctioned due to a failure to pay a staggering GH¢3.9 billion in duty to the Ghana Revenue Authority (GRA). This development, could …

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Presidency bags two billion cedis ahead of 67th Independence Anniversary

Parliament has approved the 2024 Budget Estimates of the Office of Government Machinery, the sum of two billion and seventy-four million, eight hundred and twenty-seven thousand, one hundred and sixty-four Ghana Cedis (GH¢2,074,827,164.00) for the 2024 financial year. The finance Committee chaired by Kwaku Kwarteng in the report presented to …

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Dr. Addo-Kufuor is not worth US$1.2 billion – Lawyers threaten TikToker

Lawyers for Dr Kwame Addo-Kufuor, former Minister for Defence have categorically denied a report that their client’s net worth is a staggering $1.2 billion making him the second richest person in Ghana. According to a statement signed by lawyer Samuel Atta Akyea of Zoe, Akyea & Co, the said report which was put …

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FULL TEXT: What IMF said about BoG’s GH¢60 billion DDEP-induced loss

The International Monetary Fund (IMF) has justified the Bank of Ghana’s GH¢60 billion impairment loss recorded in the 2022 fiscal year. The Bretton Wood institution in a post captured on its website about Ghana on August 10, 2023 said there is no cause for alarm. It upheld the position that the Bank of Ghana suffered …

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Minority calls for reinstatement of GH¢32 billion government debt, challenges Bank of Ghana auditors

The minority in Parliament has issued a directive to Dr. Ernest Addison, the governor of the Bank of Ghana, demanding the reinstatement of over 32 billion cedis in government debt that was previously written off under the DDEP. The directive comes amid revelations that the Bank of Ghana incurred losses exceeding 60 billion …

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Ghanaian, 5 others arrested in Turkey over Africa-bound $1 billion counterfeit money

Turkish security forces have seized $1 billion in counterfeit money and arrested six individuals involved in the operation, according to a report by reuters.com. Among the detainees were one Ghanaian national and three Swedish citizens, as confirmed by the governor’s office of Turkey on Friday, June 9, 2023. The office …

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VIDEO: Rick Ross Buys Custom 18-Passenger Private Jet Worth $5 Billion

Rick Ross Splashes $5 Billion On Custom 18 Passenger Airplane The Biggest Boss for a reason. It appears Rick Ross isn’t slowing down anytime soon as he continues to live his best life. Congratulations are in order for Rick Ross who just acquired a custom 18 passenger airplane. The Maybach …

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Dr Anane narrates how Bawumia allegedly made Ghana lose $20 billion investment

Dr. Richard Winfred Anane, a leading member of the New Patriotic Party (NPP), has narrated how the actions of Vice President Dr Mahamudu Bawumia allegedly made the Nana Addo Dankwa Akufo-Addo government lose a $20 billion investment from China. According to Dr Anane, a former minister of health under President John Agyekum Kufuor’s government, the …

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Ghana’s public debt reduces to GH¢434.6 billion, 71% of GDP

Ghana’s public debt stood at GH¢434.6 billion as of December 2022 according to the Bank of Ghana’s Summary of Economic and Financial Data for April 2023. This is a reduction of GH¢141.1 billion in the country’s public debt. This represents 71.6% of the country’s Gross Domestic Product. This is a reduction …

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US$3 billion from IMF is a pittance – Dormaahene

Osagyefo Oseadeeyo Agyemang Badu II has spoken about the government’s ongoing engagements with the International Monetary Fund [IMF]. He specifically addressed the amount of money that government was seeking from the international lender describing it as a pittance. In his view, there is a link between the financial support government was seeking …

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