Business & Economy

April 16, 2024 Josiah

Ministry of Transport cant determine transport fairs

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 […]

April 5, 2024 Josiah

14 Cedis per litre, the highest in 14 months

The National Petroleum Authority (NPA) in Ghana has decided to suspend the Price Stabilization and Recovery Levy on petroleum products, which is expected to result in higher costs for petroleum consumers.   In a directive issued on April 3, 2024, and circulated among stakeholders in the oil marketing and distribution sector, the NPA instructed the […]
2min 132

April 2, 2024 Josiah

IMF staff arrive in Ghana

Ghana is poised for its second evaluation under the three-year, $3 billion IMF-backed Post-COVID-19 Programme for Economic Growth (PC-PEG). Beginning today, Tuesday, April 2, 2024, this review follows the successful completion of the initial assessment earlier in January. Over the weekend, a team from the IMF arrived in Ghana to commence evaluating the country’s performance […]
3min 111

March 31, 2024 Josiah

World Bank releases US$300 million loan facility to Ghana

The World Bank has released a US$300 million loan facility to Ghana for budgetary support. This amount was credited to the Central Bank’s account on Wednesday, March 27, 2023.   This disbursement marks the initiation of the first phase of a series of three operations, each amounting to $300 million, from the World Bank. These […]
2min 108

March 13, 2024 Josiah

Oil palm business to sustain and enhance Ghana’s economy

Paul Kwabena-Amaning, President of the Artisanal Palm Oil Millers and Outgrowers Association of Ghana, has asserted that substantial government investment in the oil palm business has the potential to sustain and enhance Ghana’s economy.   He expressed confidence that Ghana could lead the world in palm oil production with government support and stressed the importance […]
1min 294

March 11, 2024 Josiah

18 million tonnes of cargo handled at Tema Port in 2023

Despite facing a challenging economic climate both locally and internationally in 2023, the Tema Port successfully managed 18 million tonnes of cargo, while the Takoradi Port handled eight million tonnes. This marked a significant improvement in performance during the second half of the year, following a relatively slow start in the first half.   Mr. […]
4min 346

March 5, 2024 Josiah

Foreign Exchange Trading Licenses of FBN Bank and GT Bank suspended

The Bank of Ghana has suspended the Foreign Exchange Trading Licenses of Guaranty Trust Bank Ghana Limited (GTB) and FBN Bank Ghana Limited (FBN) effective March 18, 2024, for a period of one (1) month. This suspension is in accordance with section 11(2) of the Foreign Exchange Act 2006 (Act 723). The Central Bank cites […]
1min 451

February 22, 2024 Josiah

Government to end unemployment through innovative, sustainable means

Dr. John Kumah, the Deputy Minister of Finance, has reaffirmed the government’s dedication to confronting the nation’s unemployment challenge directly.   He outlined several initiatives aimed at urgently addressing the issue of job scarcity, including YouStart, the Ghana Enterprise Agency, and the National Entrepreneurship and Innovation Programme.   According to the Third Quarter Labour Statistics […]
2min 900

February 19, 2024 Josiah

The Bank of Ghana to combat money laundering and terrorism financing

The Bank of Ghana (BoG) has reaffirmed its dedication to addressing significant gaps in the country’s financial ecosystem to prevent a return to the EU and UK’s high-risk money laundering and terrorism financing list. Following a mutual evaluation in 2016 that revealed deficiencies in Ghana’s AML/CFT/PF regime, the country was grey-listed by the Financial Action […]
3min 1079

January 19, 2024 Josiah

Retail prices recommended for cement

The Ministry of Trade and Industry (MoTI) and the Chamber of Cement Manufacturers, Ghana (COCMAG) have reached an agreement to release the suggested distribution and retail prices for different grades of cement in their designated distribution zones. The Minister of Trade and Industry, K.T Hammond, convened the meeting to address concerns about the escalating retail […]
3min 1409

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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.