Over GHS10bn rejected by Govt in bids as T-Bill demand soars.
Momentum on the money market continues to persist, with investors displaying heightened interest in T-bills.
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Banking Consultant Urges Bank of Ghana to audit five years of remittances
Banking Consultant, Dr. Richmond Atuahene, is advocating for a comprehensive forensic audit covering the past five years to assess potential revenue losses from foreign remittances into Ghana.
IFC-World Bank to invest $600m to enhance economic growth and create jobs in Ghana’s private sector.
The Country Director of the IFC, Kyle Kelhofer, disclosed this during a courtesy call on the Majority Leader in Parliament.
Ghana’s passport administration to start its 24-hour operation.
This year, you need to be prepared as we will be running three shifts. We aim to reduce the waiting time for passport applications,” Samuel Okudzeto Ablakwa stated.
Bank of Ghana unveils comprehensive audit of remittance activities
The Bank of Ghana (BoG) has commenced an audit of remittance activities covering the fourth quarter of last year, from October 1 to December 31, 2024.
N-Gas to halt gas supply to Ghana over unpaid arrears.
N-Gas is committed to upholding the sanctity of contracts across the value chain and, as a result, may demand one month’s pre-payment from VRA as a condition for continued gas supply.
Temporal Halt on All Currency Bureau Operations in Support of the Government Change Movement
The Movement for Change, one of the independent political groups in the 2024 general elections, has charged the Finance Minister, Cassiel Ato Forson, to dissolve all forex bureaux in the country to allow foreign currencies to be exchanged directly at commercial banks.
Addressing a press conference in Accra on Tuesday, February 18, the spokesperson for the Movement for Change, Andrew Appiah Danquah, called on the government to completely overhaul the forex sector, scrap levies such as the betting tax, and maintain the flat rate for Micro, Medium and Small Enterprises (MMSEs).
The Movement believes this will go a long way in restoring financial confidence in the financial sector.
“The stabilisation of the local economy is of prime importance in maintaining a healthy economy. In this regard, while working towards a more robust and comprehensive medium to long-term solution, particularly in the area of boosting exports and enhancing import substitution, the ministry should introduce some short-term policy interventions designed to regulate the demand and supply of foreign exchange.
“In this regard, government should suspend with immediate effect until further notice. The operation of all forex bureaux and mandate all forex transactions to be conducted through the commercial banks and the Bank of Ghana. In addition, government-existent regulations on the retention of frauds from export revenue must be strictly enforced.”
Cedi continues concrete performance against dollar, one dollar equals GH¢15.75
The Ghana cedi continued its strong performance against the US dollar in the retail market yesterday February 17, 2025, after a week of mixed performance against the major foreign currencies.
Debt Exchange: Finance Ministry pays GH₵6bn to bondholders.
In line with this directive, the Ministry of Finance has on Monday, February 17, disbursed a Payment-In-Cash (PIC) coupon of GH₵6.081 billion to all DDEP bondholders.
President Mahama Rules Out Immediate Extension of Ghana’s IMF Programme.
Speaking in an interview with Bloomberg TV at the Munich Security Conference, President Mahama emphasized his government’s commitment to implementing the current programme without seeking an extension at this stage.