Consumer inflation dropped by 1.8 percentage points to 8.5 percent in April, driven by a large drop in food inflation, which fell by 4.3 percentage points to 6.5 percent in the month, according to data from the Ghana Statistical Service. Although this indicates that the Covid-induced price hikes from last year continue to ease off, …
The Israeli Trade and Economic Mission in Ghana, in partnership with the Israeli Export Institute, has organised an exclusive event for top management personnel of investment companies and business advisory firms at its maiden VIP Investors Forum, which took place at Dawhenya Greenhouse Village in the Ningo Prampram Municipality of the Greater Accra Region. Participants …
Finance Minister, Ken Ofori-Atta, has revealed that the National Development Bank is set to commence operations by the end of July. Delivering the State of the Nation Address in Parliament on Tuesday, March 9th 2021, the president of the Republic of Ghana, Nana Addo Dankwa Akufo-Addo mentioned that the establishment of the National Development Bank, under …
The latest data emanating from the Bank of Ghana through its Banking Sector Developments Report dated April 2021 shows how Ghana’s banking industry has gone about major restructuring of the respective balance sheets in response to the impacts of COVID 19 on the economy. The restructuring of their assets and liabilities has basically aimed to …
The Securities and Exchange Commission (SEC) and IFC, a member of the World Bank Group, have unveilled a partnership to facilitate investments in projects which address climate and environmental issues through green bonds. Under the agreement, IFC will help the SEC develop guidelines for issuers and investors of green bonds in Ghana. The introduction of …
Ghana’s economy has ranked 73rd in the world in terms of Gross Domestic Product (GDP) for the year 2019 making it the 8th largest economy in Africa. The 2020 figures are not expected for another one year. According to the World Bank, Ghana’s economy stood at about US$67 billion in size in 2019, making it …
The central bank is projecting that the lingering effects of the pandemic are likely to have a mixed impact on three of the major commodities – gold, oil and cocoa – that determines the direction of the country’s trade balance. According to the Bank of Ghana’s data, the first two months of the year saw …
The Ghana Police Service has urged mobile money vendors across the country to install CCTV cameras at their vending points. This, the police says, will help identify and arrest criminals who rob mobile money operators. It says the presence of these cameras would also help prevent theft because criminals do not want to be recorded …
Banks wrote off a little above GH¢1.1 billion in the first two months of this year, according to the Profitability Statement of Banks published by the Bank of Ghana. The provisioning for bad debt was classified as loan losses, depreciation and others. It was slightly above the GH¢1.02 billion recorded during the same period last …
The Covid-19 health recovery levy and additional taxes on retail petroleum products announced in the 2021 budget will come into force from May 1, the Ghana Revenue Authority (GRA) has said. According to the GRA, the 1 percent Covid-19 health recovery levy will be applied to both domestic goods and services as well as imports, …