Finance

The total value of attempted fraud reported by Banks and Specialised Deposit–Taking Institutions (SDI) for the year 2021 has amounted to GH¢113 million, as compared to GH¢1billion reported in 2020. Out of this amount, a loss of GH¢61million was recorded, as compared to a loss of GH¢25 million in 2020, …

Chinese company sues Ghana government in London court Company reportedly demanding in excess of US$50 million Government abrogates Beijin Everyday contract and hands it over to Huawei Member of Parliament for Adaklu, Kwame Governs Agbodza, has cautioned that government risks attracting a judgment debt over the abrogation of an international contract involving a …

The FCA said the breaches concerned the GIB’s anti-money laundering and counter-terrorist financing controls over its correspondent banking activities in the period between January 1, 2012, and December 31, 2016, (the “Relevant Period”). “During the Relevant Period, the monetary value of funds flowing between GIB and its respondent banking customers, …

Minister for Finance, Ken Ofori-Atta has said government has so far released GHS278.57 this year under its flagship programme Planting for Food and Jobs (PFJ) and is working to avert the issue of shortage of fertilizers under the programme. “Mr. Speaker, at the end of 2021 an amount of GH¢86.31 …

Government has withdrawn the Tax Exemptions Bill 2021, which seeks to prevent a significant loss of government revenue from Parliament. This is after Deputy Finance Minister John Kuma has sought the leave of the House to withdraw the bill and to re-laid it later in the House. The Exemptions Bill …

President Nana Addo Dankwa Akufo-Addo, on Tuesday, 14th June 2022, launched formally the Development Bank Ghana, which will help spearhead the vision of a Ghana Beyond Aid, which involves positioning the private sector to take the lead in the socio-economic transformation of our country, and create quality jobs for our …

  Inflation for May hits 27.6 per cent Grapes the most driver of inflation in Ghana Diesel among drivers of Ghana’s inflation The Ghana Statistical Service (GSS) on Wednesday, June 9 announced that inflation for May hit 27.6 per cent. This represents a four percentage points increase compared to the …

  The Ministry of Transport has responded to a Right to Information request to provide details about some decorations mounted at the Kotoka International Airport during the 2021 Christmas festive season, The Fourth Estate has reported. The airport decorations became a matter of public discussion after some invoices issued in …

The World Bank says that additional policy reforms in investment and trade facilitation can further enhance trade flows between Ghana and the rest of the sub-region. In its Ghana Trade Competitiveness Diagnostics report, it urged the Government to among other things, take either administrative or regulatory steps to reduce port …

The Government of Ghana will get US$1 billion from some international banks for budget purposes and to boost the Central Bank reserves as the country seeks to cut its fiscal deficit and stabilise the cedi. Details of the loan is yet to be laid before Parliament is actually a US$2Billion syndicated loan …