Some multinational companies engaged in the services of virtual currencies such as Bitcoin and crypto currencies are predicting that Ghana will be the first country on the continent to accept bitcoin as payment scheme. This follows the increasing number of Ghanaians that are said to be engaging in virtual currencies despite a warning from the …
Inflation for April dropped to 9.6 percent. This represents a 0.8 percent drop compared to the 10.4 percent recorded in March this year. The Consumer Price Inflation, measures the average change over time in the general prices of goods and services. Acting Government Statistician, Baah Wadieh reported that the decline is as a result of …
Imposing any form of tax on mobile money transactions will be a major drawback to the financial inclusion agenda championed by government, Akinwale Goodluck, Head of sub Saharan Africa at GSMA, the global body that represents the interest of mobile operators worldwide, has said. “I am very concerned anytime there is any indication that government …
Farmers in the country should be able to secure increased credit from banks with the coming on board of the Ghana Incentive Based Risk Sharing Agricultural Lending (GIRSAL). According to the Ministry of Agriculture, GIRSAL which will be rolled out this year is meant to serve as an incentive for banks to increase their lending …
Ghana’s Producer Price Inflation (PPI) has dropped for the third time in a row to 3.7 percent as at March 2018. The PPI measures the average change over time in the general prices received by domestic producers for the production of goods and/or provision of services. Comparing the March figure to that of February, the …
The IMF should be releasing about two hundred and thirty-six million dollars ($236,000,000) to Ghana under the agreement with the Fund, by the first week of May this year. This will be the total of the fifth and sixth disbursements under the economic support program. These among others were the highlights at this year’s spring …
“Now I have multiple streams of collection for my business and do not have to bear the burden of carrying bulk cash with all its insecurities. Financial transactions for my business are conducted seamlessly using my mobile device anywhere I am.” – Auntie Maggie, Owner of Multiple Stores at Makola Market Ghana’s economy, as reported …
Indigenous banks are in for a tough time as analysis conducted on their latest financial results indicates that they need to raise as much as GH¢4billion to meet the central bank’s GH¢400 million minimum capital requirement. Out of the 16 Ghanaian-owned banks analysed by financial analyst and credit consultant Emmanuel Akrong, Royal Bank – based …
Per Capita GDP, which in principle is a measure of the total economic output of the country divided by the number of people, has reached a four-year high of US$1,632 or GH₵7,110 at the end of 2017, the statistical service has revealed. The figure is an 8.2 percent increase over the US$1,508 recorded in 2016 …
The Inflation Rate for March 2018 dropped marginally to 10.4%, representing 0.2% decrease from the 10.6% recorded in February, 2018. According to the release issued by Ghana Statistical Service at a news conference (GSS) in Accra, “the year-on-year inflation rate as measured by the Consumer Price Index (CPI) was 10.4 percent in March 2018, down …