Business – Omanghana

Fitch Ratings has upgraded Ghana’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘B-‘ from ‘Restricted Default’ (RD). The Outlook is Stable. The upgrade of Ghana’s Long-Term Foreign-Currency IDR to ‘B-‘ from ‘RD’ reflects Fitch’s assessment that Ghana has normalised relations with a significant majority of external commercial creditors. Ghana restructured its USD13.1 billon Eurobonds in October […]

The Chamber of Oil Marketing Companies (COMAC) has expressed serious concerns over the government’s decision to introduce a new GHS1 per litre Energy Sector Levy on petroleum products. According to COMAC, the levy poses a greater financial threat to local fuel retailers than recent global crude oil price increases. In response to the Chamber’s concerns, […]

Transport fares across the country will be reduced by 15% beginning Saturday, May 24, 2025. The move follows an agreement between transport unions and the Ministry of Transport, prompted by the strengthening of the Ghanaian cedi and a notable decline in fuel prices. The decision comes as operational costs for commercial drivers ease, thanks to […]

The Abossey Okai Spare Parts Dealers Association has announced a reduction in spare parts prices following the recent appreciation of the Ghanaian cedi against the US dollar. Chairman of the association, Henry Okyere Jnr, said the price cut is intended to ease the financial burden on customers and support the government’s broader efforts to stabilize […]

The government and key trade associations have reached a consensus to reduce the prices of goods within the next 60 days—conditional on the continued strengthening of the Ghanaian cedi against major foreign currencies. The agreement was reached during a high-level meeting on Tuesday, May 14, between the Ministry of Trade, Agribusiness and Industry and representatives […]

The Bank of Ghana (BoG) has issued a statement reaffirming the existing regulations governing foreign exchange withdrawals, amid growing public interest in the matter. In a press release dated May 15, 2025, and signed by Secretary Sandra Thompson, the central bank clarified that over-the-counter (OTC) cash withdrawals in foreign currency from Foreign Exchange Accounts (FEA) […]

Ghana’s marking its lowest level in eight months. The decline was driven in part by a stronger Ghanaian cedi, which helped reduce import-related price pressures. Both food and non-food inflation saw a slowdown. Food inflation dropped to 25.0% from 26.5% in March, while non-food inflation decreased to 17.9% from 18.7%. On a monthly basis, consumer […]

The prices of petrol and diesel will go up slightly. According to the latest report, petrol will increase by 2%. This means the price for one liter of petrol will be GHC 15.20. Diesel will also rise by 1.1%, making the new price GHC 15.35 per liter. However, there is good news for people using […]

On his first day back in office, President John Mahama met with a delegation from the World Bank to discuss urgent measures aimed at stabilizing and rebuilding Ghana’s economy. Stressing the need for a “reset,” Mahama called for comprehensive reforms focused on economic stability, job creation, and poverty reduction. A key priority, according to Mahama, […]

The Bank of Ghana (BoG) has suspended the Gold-for-Oil initiative, citing operational and policy challenges that resulted in financial losses. The program, designed to stabilize domestic fuel prices and reduce reliance on foreign exchange for fuel imports, has been temporarily halted as the Central Bank reassesses its economic strategies. In an interview with Bloomberg, BoG […]

Fitch Ratings has upgraded Ghana’s to ‘B-‘

Oil Marketers Raise Alarm Over New Fuel Tax, Warn of Severe Financial Impact

Transport Fares to Drop by 15% Starting May 24

Abossey Okai Spare Parts Dealers Slash Prices as Cedi Strengthens

Trade Associations Agree to Cut Prices Within 60 Days If Cedi Stability Holds

Bank of Ghana Clarifies Foreign Exchange Withdrawal Rules

Inflation rate eased to 21.2% in April 2025

Prices of petrol goes up

President Mahama met with a delegation from the World Bank

Bank of Ghana (BoG) suspends the Gold-for-Oil initiative,

GES Responds to Delays in Staff IDs and Salaries for Newly Posted Teachers

OFAM, A taste of overripe plantain mixed with other things

NPP Apologises to Ghanaians, Pledges to Avoid Past Mistakes