Julie Kozack, Head of Communications at the International Monetary Fund (IMF), has commended the Bank of Ghana (BoG) and the government for their notable progress in advancing the nation’s comprehensive debt restructuring efforts. Speaking during a press conference, Ms. Kozack highlighted that the government’s robust policy adjustments under the program were yielding positive results, with […]

K. T. Hammond, the Minister of Trade and Industry, has directed the Cement Manufacturing Development Committee (CMDC) to instruct Ghanaian cement manufacturers to immediately halt the increase in cement prices.   The Minister also requested that all cement producers in the country publish their retail prices to curb the ongoing arbitrary price hikes. He reiterated […]

The Centre for Environmental Management and Sustainable Energy (CEMSE) has sounded an alarm regarding the decline in profitability of the Ghana Oil Company Limited (GOIL).   In response, the Executive Director of CEMSE, Benjamin Nsiah, urged the two primary shareholders – the Social Security and National Insurance Trust (SSNIT) and the Bulk Oil Storage and […]

According to government statistician Professor Samuel Kobina Annim, Ghana’s inflation rate slightly decreased to 25.0% in April, marking a decline of 0.8 percentage points from the 25.8% recorded in the previous month.   This drop in inflation was primarily attributed to a slowdown in food inflation, which decreased from 29.6% in March to 26.8% in […]

The Bank of Ghana (BoG) has reaffirmed its commitment to closely monitor and regulate financial institutions within the country to uphold the stability and integrity of the banking sector.   According to the Central Bank, maintaining oversight in the banking industry is essential for mitigating risks and fostering confidence in the financial system.   Speaking […]

The Ghana Chamber of Bulk Oil Distributors (CBOD) has reassured customers that fuel prices are unlikely to surge by the end of April 2024. The Chamber emphasized that the potential scenario may not significantly impact the prices of gasoline, diesel, and liquefied petroleum gas (LPG). It stated that its assessment of factors influencing pump prices, […]

The Chamber of Petroleum Consumers (COPEC) has criticized the Ministry of Transport for its directive to the Ghana Police Service regarding the enforcement of new fares.   On Monday, April 15, the Ministry instructed the Ghana Police Service to monitor commercial drivers who are charging fares exceeding the approved rates. Duncan Amoah, Executive Secretary of […]

The dismissal was communicated through a correspondence dated Tuesday, April 9, 2024. Nana Bediatuo Asante, the Executive Secretary to the President, endorsed the document, instructing Dr. Tenkorang to hand over his duties to Kofi Bosompem Osafo-Maafo by Monday, April 15.   While the reason for the contract termination was not disclosed, excerpts from the statement […]

During the State visit of President Umaro Mokhtar Sissoco Embaló of Guinea-Bissau, President Nana Addo Dankwa Akufo-Addo highlighted the significant progress made by Ghanaian products under the Guided Trade Initiative of the African Continental Free Trade Area.   President Akufo-Addo noted that since the launch of the Guided Trade Initiative in October 2022, over 700 […]

The Bank of Ghana (BoG) is contemplating delegating the implementation of the Gold for Oil Policy to commercial banks, as it evaluates its role in the initiative two years after its inception. The Central Bank aims to streamline its focus on core functions such as monetary policy and price stability maintenance.   According to Dr. […]