Today's Ghana Business, Banking and Economic news

Ghana’s official creditors are poised to grant financing assurances and form a committee co-chaired by France and China – key steps for the nation to secure a US$3 billion International Monetary Fund (IMF) loan, sources told Reuters.

The Bank of Ghana (BoG) has stated that it is still focused on its retail central bank digital currency (CBDC) – the e-Cedi – despite the challenges posed by the current economic difficulties and the engagement with the International Monetary Fund (IMF).

Elon Musk says that he has found a new chief executive to lead Twitter.

Adidas has decided to sell some of the trainers and other products it made with rapper Kanye West and donate some of the proceeds to charity.

Surfline, which prides itself as Ghana's first 4G LTE company that offers fast and reliable internet services, has been hit by serious financial difficulties leaving customers in limbo.

The Ghana Stock Exchange (GSE) witnessed a stagnation in its benchmark index, the GSE-Composite Index, on the trading day ending on May 10, 2023.

Group of Seven policymakers must recognize the urgent need to tackle debt problems in developing nations and should discuss ways to bring more transparency to the issue, World Bank President David Malpass said.

The Ghana Grid Company Limited (GRIDCo) has attributed the recent power outages experienced in some parts of Accra to shortage in gas supply.

Ghana, the world’s second-largest cocoa producer, has reported a remarkable 18% increase in the purchase of graded and sealed cocoa beans since the start of the 2022/23 season, compared to the same period during the previous cocoa year.

Africa will need more than $700 billion in finance over the next decade to develop renewable power and mines to extract the metals required for the green energy transition, according to Standard Bank Group Ltd.

Inflation has dropped to 41.2% for the month of April 2023 representing a 3.8 percentage point decrease from the 45.0% recorded in March 2023.

Crude oil prices were once again on the decline today in Asian morning trade, extending a slip that began yesterday after the American Petroleum Institute surprised markets by estimating an inventory build in both crude and gasoline.

Dean of the University of Cape Coast Business School, Professor John Gatsi, has said fiscal dominance by the government is the biggest problem facing the execution of monetary policy by the Central Bank and by extension the management of the Ghanaian economy.

The Bank of Ghana (BoG) is considering yet another hike in its monetary policy rate to help bring down inflation rates in the country.

Canadian mining company Asante Gold has announced that it has entered into a confidentiality agreement with Fujairah Holding LLC, a UAE-based holding company, in connection with an unsolicited expression of interest to acquire all of the company’s outstanding common shares not held by Fujairah.