The world's second largest cocoa producer Ghana is looking to delay delivery of up to 350,000 tons of beans to next season due to poor crops, five sources told Reuters in a further worsening of the outlook for the global chocolate industry.
Inflation for May 2024 has dropped significantly to 23.1%, down from 25.0% in April 2024, representing a 1.9 percentage point decrease between April and May 2024.
IC Securities has significantly revised its year-end forecast for the US dollar to Ghanaian cedi exchange rate, adjusting its projection from GH¢13.2/US$ to GH¢15.91/US$.
Former President John Mahama has said he will restore banking licenses of banks whose licenses were revoked due to their inability to meet the Bank of Ghana’s (BoG) GHS 400m capital requirement.
The Bank of Ghana (BoG) has reiterated its commitment to pursuing policies aimed at achieving stable inflation levels, in line with its medium-term target of 8 percent.
Ghana’s gold production saw a modest rise in 2023, climbing from 3.7 million ounces in the previous year to 4 million ounces, according to the Ghana Chamber of Mines.
Ghana and its official creditors have finalised core issues on a debt rework and will sign a draft memorandum of understanding very soon, two sources told Reuters, a key step required to access more International Monetary Fund financing.
CEO of the National Pensions Regulatory Authority (NPRA), John Kwaning Mbroh, has made assurances regarding the future stability of the Social Security and National Insurance Trust (SSNIT).
Actors within Ghana’s and more extensively, Africa’s export sector are being urged to devote all their efforts into adding value to their products and services in order to optimize gains in revenue generation.
Ghana’s eurobond holders need to take more losses as the nation works to restructure debt to match payment cuts accepted by countries such as the UK and China, social-justice organizations said.
A group of investors in Credit Suisse Group AG bonds that got wiped out when UBS Group AG rescued the bank in a Swiss government-brokered deal are suing the European country in a US court.
Ghana in 2023 earned some $1.77bn from non-traditional exports (NTEs) to various Regional Economic Communities (RECs) on the Continent under the Africa Continental Free Trade Area (AfCFTA) agreement.
