Eva Mends, Chief Director at Ghana’s Finance Ministry, has highlighted the Ministry’s ongoing challenge of developing a tax system that will be broadly accepted by Ghanaians to increase the nation’s tax-to-GDP ratio by 5% to 8%.
Ghana and the African Development Bank have signed the Indicative Operations Programmes outlining the projects to be implemented between 2024 and 2025.
Ghana’s private power producers are threatening to walk away from talks to revamp $1.6 billion in arrears, a potential snag in the West African nation’s long-running efforts to restructure its debts.
U.S. Principal Deputy Assistant Secretary of State for International Security and Nonproliferation Ann Ganzer announced new civil nuclear cooperation to further support Ghana’s safe and secure use of nuclear power, including establishing Ghana as a small modular reactor (SMR) regional hub.
The German Development Cooperation, in collaboration with the Association of Ghana Industries (AGI), has launched the African SME Network for Exchange and Trade (AfNEXT).
On Monday, the total trade turnover on the Ghana Stock Exchange (GSE) tumbled to GH¢63,236.10, marking a significant decline of 65.74% compared to the previous trading day (Friday).
The Bank of Ghana (BoG) has announced the retention of its Monetary Policy Rate at 29 percent, marking the second consecutive time the rate has been held steady.
On Friday, the government secured GHS 4.11 billion through its latest issuance of Treasury Bills, falling short of the targeted GHS 4.86 billion by GHS 750 million.
The Bank of Ghana successfully raised GHS 887 million through the issuance of its 56-day bills, auctioned at an interest rate of 28.9 percent on Wednesday, May 22, 2024.
Dr. Bernard Tetteh-Dumanya, a financial economist and consultant, has flagged serious corporate governance deficiencies in the sale of SSNIT’s shares in six hotels to Rock City Hotel, a company owned by Bryan Acheampong, Ghana’s Minister for Agriculture.
Ghana’s banking industry continues to exhibit robust growth, with total assets reaching an impressive GHS 306.8 billion, marking a significant uptick from the previous month’s valuation of GHS 297.4 billion.
Ghana’s trade dynamics displayed notable resilience in April, with the trade balance registering a robust uptick, reaching $744 million, equivalent to 0.9% of GDP, compared to $673 million in March, representing 0.8% of GDP.
Dr. Paa Kwesi Nduom has called on the Government to settle a debt of GHS 7.1 billion owed to GN Bank, a defunct financial institution that was closed during the Bank of Ghana’s sweeping financial sector reforms in 2017.
