Business & Economy

November 27, 2023 Josiah

Ghana’s public debt falls from GH₵14.2bn; now 66.4% of GDP

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 […]

November 14, 2023 Josiah

Inflation drops from 38.1% to 35.2%

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 […]
1min 123

November 13, 2023 Josiah

2024 Budget statement to be presented on Wednesday, November 15th, 2023

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, […]
2min 95

November 9, 2023 Josiah

BoG advises public on loan guarantorship

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 […]
3min 126

November 6, 2023 Josiah

Ken Ofori-Atta visits SOL cement

The Ghana Revenue Authority (GRA) has set the condition that SOL Cement’s managers in Tema must settle at least 40 percent of their outstanding tax liabilities before they can resume operations. The GRA closed the cement factory due to GH¢700 million in tax defaults, including VAT.   The company was found to have violated VAT […]
2min 122

October 19, 2023 Josiah

Opportunities exist for Financial Institutions under the PFJ phase II Programme- Dr. Bryan Acheampong

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. […]
3min 192

October 18, 2023 Josiah

Abossey Okai Spare Parts Dealers to stage a three day shop closure

Starting from November 1, 2023, members of the Abossey Okai Spare Parts Dealers Association will stage a three-day shop closure in protest against the government’s new tax compliance system. The association has expressed its displeasure with the government’s decision to implement a compliance task force responsible for monitoring tax compliance within their industry. They argue […]
2min 177

October 10, 2023 Josiah

Ghana’s economy to grow by 3.7% in 2024

Fitch Solution has forecasted that Ghana’s economy will experience an acceleration in growth, reaching 3.7 percent in 2024. This prediction signals a positive trajectory for the country’s economic recovery.   According to Fitch’s report, the expected increase in consumer activity will contribute to this growth by alleviating pricing pressures, driven in part by more favorable […]
2min 301

October 9, 2023 Josiah

GRA targets GH¢60m by end of football season

The Domestic Tax Revenue Division of the Ghana Revenue Authority has reported that it successfully generated GH¢15 million within just one month from the recently introduced betting tax. The tax collector is now optimistic that this amount will increase to GH¢60 million by the end of the football season. Edward Gyambra, the Commissioner in charge […]
1min 217

October 4, 2023 Josiah

Cedi depreciation in first week of October

This week, the US dollar has seen a modest uptick, gaining a few pesewas against the official rate set by the Bank of Ghana. As of Monday, October 2, 2023, the Ghanaian cedi is trading at GHS 11.13 to the US dollar, as per the interbank forex rates provided by the Central Bank.   Despite […]
1min 186

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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.