The Electricity Company of Ghana (ECG) has called on all its customers to pay their bills to avoid disconnection as it’s set to embark on another nationwide revenue mobilisation exercise.
Nigeria commissioned Dangote Refinery on Monday amid hopes of transforming the country into a net exporter of petroleum products, but analysts said securing crude supplies could affect it achieving full production this year.
In the latest release of the Bank of Ghana’s May 2023 Summary of Economic and Financial Data, the Ghanaian Cedi has come under significant pressure, recording a depreciation rate of 21.7% against the US dollar.
The first tranche of $600 million out of the $3billion IMF programme is expected to hit the accounts of the Bank of Ghana today, May 19, 2023, the Governor of the Bank of Ghana (BoG), Dr Ernest Addison has said.
Ghana, one of the world's biggest producers of both gold and cocoa, is suffering its worst economic crisis in a generation, with the price of goods rising at an average of 41% over the past year.
The Public Utilities Regulatory Commission (PURC) has increased tariffs for electricity and natural gas by 18.36% across the board for all consumer groups.
