Ghana is no longer on the European Union’s list of blacklisted countries that has failed to put in measures to fight money laundering. This follows the removal of the country from the league of countries cited for money laundering by the Financial Action Task Force today 25th June, 2021. Prior to that, the European Union …
Month: June 2021
Members of the Mobile Money Agents Association of Ghana (MMAAG) have announced in increase in cash out services effective, Thursday July 1. This means customers will now have to pay more for cash-out services than before. A statement issued Monday June 28 by the association appealed to customers to bear with them and comply. “To …
The Bank of Ghana has declined an invitation to appear before Parliament to assist it with investigations over the revocation of the banking licenses of Unibank and UT Bank. Writing through its lawyers, Bentsi-Enchill Letsa and Ankomah, the central bank explained that the petitioners, Prince Kofi Amoabeng and Dr Kwabena Duffour, the owners of the …
The Minister of Finance, Ken Ofori-Atta is backing the recent announcement by the finance ministers of the G7 countries who are pushing for a global corporate minimum tax of 15 percent. This would require companies from the G7 countries to pay at least a 15 percent rate in each country they operate in. He believes …
The World Bank Migration and Development Report for 2021 has revealed that remittance to Ghana last year hit US$3.6b despite lockdowns in many of the remittance sending countries. Host countries for Ghanaian migrants include the USA, the UK, Côte d’Ivoire, Italy, Germany, and Canada. The resilience of Ghanaian migrants has been commended in the face …
The central bank has abolished seven nuisance fees and charges as well as other practices in the banking sector, in a bid to ensure that the interests of customers of banks and Specialised Deposit-Taking Institutions (SDIs) are adequately protected. In a release issued last week, the Bank of Ghana said it has observed with concern …
Even though the cedi has not depreciated against the US dollar since the beginning of the year, it has started showing signs of weakness, as data published by the Bank of Ghana indicates its gains have begun to slow since the beginning of the year. According to the interbank FX rates, as of Friday June …
The Ghanaian economy expanded by 3.1% in the first quarter of this year, the lowest since the same period in 2019. However, in the same period of 2020, the Gross Domestic Product (GDP) growth rate was 7.0%. According to figures from the Ghana Statistical Services, Construction (14.2%)), Manufacturing (6.1%) as well as Information and Communication …
West Africa is endowed with fisheries resources that have to be harnessed for the benefit of the sub-region. Harnessing this potential has been hampered by the prevalence of illegal, unregulated, and unreported fishing – leading to the depletion of the fisheries stock. One of the major solutions to address these challenges is the development of …
Ghana’s inflation rate dropped its lowest level since the start of 2013, at 7.5 percent in May, which is less than the median of the Bank of Ghana’s target band of between 6 percent and 10 percent. The fall in headline consumer price inflation from April’s level of 8.5 percent was announced by Government Statistician …