Tag Archives: currency

President Nana Addo Dankwa Akufo-Addo on Wednesday expressed worry about the activities of the black currency market which has significantly contributed to the weakening of the Cedi against major trading currencies. He said the situation where the parallel market was driving the supply and rate of foreign exchange transaction was unacceptable, and …

Steve H. Hanke a professor of Applied Economics at the Johns Hopkins University, has reiterated his point that the managers of the Ghanaian economy need to establish a currency board in order to save the fallen cedi against the dollar. The Professor, who is based in the US, for some …

The Ghana Cedi has been ranked as the second worst-performing currency in the world after Sri Lanka’s Rupee, a Bloomberg report has said. The international news portal said the Cedi lost its value by 40.05 percent to the United States dollar in the first nine months of 2022 – making …

Ghanaian rapper, M.anifest, has posited that lyrical beef in the industry is the easiest way musicians who indulge in it get attention. This, he added, has witnessed the high rise of battles among musicians. According to the celebrated musician who was caught up in a beef with Sarkodie back in 2016, …

A former Political Science lecturer at the Kwame Nkrumah University of Science and Technology (KNUST), Dr. Richard Amoako Baah, has stated that the opposition National Democratic Congress (NDC) is right about a claim of new currency notes printed by the Central Bank. Cassiel Ato-Forson, the Ranking Member on the Finance Committee of …

Sierra Leone is launching a re-denominated currency, knocking three zeroes off bank notes but keeping their value unchanged, its central bank has said. Financial transactions with the West African country have been suspended since Wednesday in preparation for the re-calibration of the leone currency, Central Bank Governor Kelfala Murana Kallon …

Dr. Samuel Worlanyo Mensah, an Economist, with the Center for Greater Impact Africa, has called for a strategic policy to strengthen the Bank of Ghana to fight against the use of foreign currencies in the country. He explained that BoG needed to be resilient in stabilising the Ghana Cedi to compete with …

The Bank of Ghana has cautioned organisations and individuals against transacting business in foreign currency in Ghana. A statement from the Central Bank stated that institutions and individuals are prohibited from pricing, advertising, receipting or making payments for goods and services in foreign currency in Ghana, without written authorization from …

The Bank of Ghana (BoG) is warning the public against a fraudulent money doubling scheme which operates under the name “BitCash Currency Exchange”. BoG said the company which claims to have approval from the central bank is false. According to central bank, the company has not been licensed as an …

A 31-year-old man, Kwabena Seth, has been arrested for attempting to make a mobile money transaction with “fake” currencies at Atinka Junction in the Kumasi Metropolis of the Ashanti region. He was arrested today, February 8, 2022, by the locals and handed over to the Police at Adiebeba after an …