Over the last two decades, Ghana has enjoyed increasingly stable and deepening democratic governance. Seven successful elections have strengthened the effectiveness of key national institutions, enhanced investor confidence and anchored the economy in an environment for positive growth. Today, Ghana is not only the best place for doing business in West Africa, but the …
Virtual Currency: An unregulated digital currency that can be used as a substitute for real and legally recognized currency. Convertible Virtual Currency usually has a measurable value in real money, but what makes it convertible lies in its ability to be exchangeable. Not all virtual currency can be exchanged for legal tender though, therefore, not …
The International Monetary Fund (IMF) has set March ending as the date for its Executive Board to carry out its final review of Ghana’s programme before approving of its exit. A pass would lead to the successful conclusion of the program on April 3 2019 This was after the Fund’s staff mission to Ghana completed discussions with government which could be described …
Ghana’s inflation reached its lowest in five years for the month of January. Inflation rate dropped to 9 percent, from the 9.4 percent recorded in December 2018. The rate of 9.0% is the lowest since January 2013. The drop was largely consistent with the inflation trend recorded in January for the last 5 years. The …
Part 1 of this article drew attention to the Section of the 2019 Budget that provided a non-comprehensive yet high bailout or public debt of the financial sector restructuring. It noted that the continuing incidence of this debt and associated spending, loss of incomes, and levies such as ESLA falls on taxpayers, investors, depositors as …
The Governor of the Bank of Ghana Dr. Ernest Addison has announced a cut in the policy rate from 17 percent to 16 percent. This represents a 100 basis point drop. This is the maiden meeting of the Monetary Policy Committee of the Bank of Ghana this year. The policy rate is the rate at …
On Friday 4th January 2019 the Governor of the Bank of Ghana, Dr Ernest Addison held a press conference on the state of banks which had met the GHC 400 million minimum capital requirement. As of October 2018, there were 30 banks in the country but due to the race to meet the Minimum Capital …
Mr Ken Ofori-Atta, Minister of Finance has announced government’s projection to grow the Ghanaian economy by 7.6 percent in 2019, which show an increase of 6.8 percent from last year’s figure. According to him, the government is also targeting a single-digit inflation of 8 per cent, a fiscal deficit of 4.2 per cent of GDP, …
British development finance agency CDC Group plans to invest up to $4.5 billion across Africa over the next four years to boost ties with the continent, its chief executive told Reuters on Wednesday, as the country prepares to leave the European Union. With Britain set to leave the world’s biggest trading bloc in March, government …
Ghana is recording appreciable investments into its financial sector following the clean up by the central bank. The CEO of the GIPC, Yofi Grant tells Citi Business News the centre should record more after the banks recapitalize. The banking sector reforms which has spanned for about a year and a half, has seen seven local …