Tag Archives: FINANCE

The Public Interest and Accountability Committee (PIAC), which monitors the use of petroleum revenue, says it is unable to report on the programs and activities undertaken with an amount of US$169.51 million disbursed to the Annual Budget Funding Amount (ABFA) for the first quarter of 2020.   The ABFA is …

The Ministry of Finance has for the fourth consecutive time failed to account for unutilised Annual Budget Funding Amount (ABFA) of oil revenues, the Public Interest and Accountability Committee (PIAC) has disclosed. A statement issued and signed by Chairman of the Committee, Mr Noble Wadzah said the expenditure information for …

It was on the evening of October 10, 1957, when Komla Gbedemah, the finance minister of the newly formed nation of Ghana, and his secretary pulled up to the counter of a Howard Johnson restaurant in Dover, Delaware, USA, to buy orange juice. As they were given the juice, the …

Depositors of the collapsed Microfinance companies, Savings and Loans and Finance Houses will from Wednesday, September 16, 2020, have full access to their funds. It follows the government’s resolution of the original commercial paper, also known as bond. The government on Tuesday released a total of GHS3.56 billion to settle the …

The government will borrow GH¢22.7 billion within the next three months, beginning this month. According to the Bank of Ghana’s issuance calendar, GH¢19 billion will, however, be used to settle principal and interest of existing loans. Another GH¢3.05 billion, which will be in fresh issuance, will be used to finance …

The Ministry of Finance has shut down its offices to allow ongoing mass testing of all staff working on site. To this effect, a memo by the ministry issued orders all staff to work from home, using the its approved digital channels, effective Monday, June 7, 2020. The ministry has …

The Ministry of Finance has launched three policy initiatives designed to deepen financial inclusion and accelerate the shift to digital payments. This includes the National Financial Inclusion and Development Strategy, Digital Financial Services Policy and the Cash-Lite Roadmap. The National Financial Inclusion and Development Strategy, which is developed in collaboration …

Seven million Ghanaians earn below GH¢7,000 annually, Finance Minister, Ken Ofori-Atta has revealed. According to him, 83.6% of Ghanaians also do not have real savings and are vulnerable to economic hardships in the event of crises such as the COVID-19 pandemic. “In Ghana, it is more devastating because when we look at …

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