Business & Economy

June 18, 2024 Josiah

Traders take advantage of dawn business to reduce cost

From reduced taxes to lower operational costs, dawn trading has become a crucial strategy for many, transforming Accra’s bustling markets into vital economic hubs long before sunrise. Conversations with traders and buyers involved in dawn transactions highlight the significant impact of early trading on local economies.   Alexander Obeng, who moved from Prestea in the […]

May 28, 2024 Josiah

Monetary Policy Rate (MPR) at 29%

The Bank of Ghana (BoG) has announced that it will maintain its Monetary Policy Rate (MPR) at 29% for the second time this year. This decision was made by the Governor of the Bank of Ghana, Dr. Ernest Addison, during the 118th monetary policy announcement on Monday, May 27, 2024.   Dr. Addison explained that […]
2min 179

May 27, 2024 Josiah

Lower the exchange rate from GH¢15 to GH¢10 -The Ghana Federation of Traders

The Ghana Federation of Traders has issued an ultimatum to the government, demanding measures to lower the exchange rate from GH¢15 to GH¢10. The federation, comprising eight groups, argues that the cedi’s depreciation is eroding their capital and threatening their businesses.   Eric Kwaku Boateng, Chairman of the Ghana Federation of Traders and President of […]
2min 151

May 25, 2024 Josiah

GH¢2.3 billion for the restructuring and recapitalization of NIB

The government has announced the approval of GH¢2.3 billion for the restructuring and recapitalization of the National Investment Bank (NIB). The first tranche of GH¢400 million is expected to be transferred to the bank by the end of May 2024.   Announcing the approval at the Ministry of Finance’s monthly briefing, Dr. Mohammed Amin Adam […]
2min 165

May 24, 2024 Josiah

Tomato traders protest

Hundreds of tomato traders in Accra Central have protested against what they describe as an unfair reduction in the size of wooden crates used for packaging tomatoes.   The traders, primarily women, claim that the reduction in crate size, coupled with recent price hikes, is threatening their livelihoods. They argue that the smaller crates contain […]
2min 350

May 21, 2024 Josiah

Commendable efforts with debt restructuring -IMF

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 […]
2min 291

May 18, 2024 Josiah

Cement price hikes

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 […]
1min 398

May 14, 2024 Josiah

CEMSE cautions SSNIT and BOST

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 […]
4min 458

May 8, 2024 Josiah

Inflation rate dropped slightly to 25.0% in April

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 […]
3min 345

May 8, 2024 Josiah

BoG protecting depositors’ funds

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 […]
2min 215

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Omanghana is an online news portal that provides readers around the world with a greater focus on Ghana and other parts of Africa. Established in 2009, Omanghana regularly publishes articles related to News, Sports, and Entertainment.