Ghana’s Cocoa Marketing Board (COCOBOD) has successfully concluded an $800 million syndicated loan with banks, and the first tranche of $600 million is expected to be drawn down this week, according to the deputy chief executive officer. The loan, an annual tradition to finance cocoa bean purchases from farmers, faced delays this year due to […]

As of September 2023, Ghana’s public debt has shown a notable decrease, amounting to GHS 567.3 billion, reflecting a GHS 14.2 billion reduction compared to the GHS 581.5 billion reported in June 2023. According to recent data released by the Bank of Ghana, this new public debt figure represents 66.4 percent of the country’s Gross […]

Business proprietors intending to import goods under the government’s proposed import limitations bill are required to submit clearance requests to the Trades Committee of Parliament, as stated by the Minister of Trade and Industry, K.T. Hammond. Emphasizing the objective of the proposed import limits bill targeting 22 specific goods, Hammond clarified that the intention is […]

The Bulk Energy Storage and Transportation Company Limited, formerly BOST, achieved significant recognition at the seventh edition of the Ghana Energy Awards, receiving two prestigious awards. The event, held at the Labadi Beach Hotel on November 17, 2023, honored the company as the ‘Petroleum Company of the Year,’ while its CEO, Mr. Edwin Alfred Provencal, […]

The Bank of Ghana has imposed fines on Zeepay Ghana Limited for not using the average interbank exchange rate specified by the Ghana Association of Banks and the Bank of Ghana for converting settlement funds into the local currency. This action was announced in a statement issued by the Central Bank.   Additionally, the Bank […]

For the third consecutive time, Ghana has witnessed a decline in inflation, reaching a rate of 35.2% in October. This marks a noteworthy decrease of 2.9 percentage points from the 38.1% recorded in September.   According to the Consumer Price Index (CPI) data released by the Ghana Statistical Service on Tuesday, November 14, the breakdown […]

Finance Minister Ken Ofori-Atta is scheduled to present the government’s 2024 Annual Budget Statement and Economic Policy to Parliament on Wednesday, November 15, 2023. Ahead of the presentation, calls have intensified for the government to make significant spending cuts to address the struggling economy.   CEO of Dalex Finance and Leasing Company Limited, Kenneth Thompson, […]

As part of its initiative to enhance financial literacy, the Bank of Ghana is advising the public to exercise caution when acting as guarantors for loans. The Central Bank emphasizes that guarantors may be obligated to repay the loan, including accrued interest, in the event of the borrower defaulting on their repayment obligations. In a […]

During a presidential breakfast meeting on agriculture and agribusiness financing held at Kempinski Hotel in Accra on Monday, the Minister for Food and Agriculture, Dr. Bryan Acheampong, emphasized the opportunities available for the participation of financial institutions in the PFJ 2 program. He highlighted the sector’s potential to significantly contribute to the country’s development goals. […]