After ravaging the developed world, COVID-19 is now devastating developing and emerging-market countries, most of which lack the medical and financial capacity to combat the pandemic and its economic effects.
For advanced economies, the first line of defense has been social distancing, hand washing, face masks, and widespread lockdowns. But...
In spite of the annihilative impact of the coronavirus pandemic on the country’s local currency, making it record its highest depreciation against the US dollar since the beginning of the year, the Bank of Ghana (BoG) says it expects the cedi to gain stability as pressure on it has...
Nigerian banks plan to restructure over a third of loans after running into repayment problems due to the coronavirus pandemic, a member of the central bank monetary policy committee said.
A total of 17 banks have submitted requests to restructure over 32,000 loans for businesses and individuals, representing 33% of...
Nigerian President Muhammadu Buhari said last week Tuesday that West Africa’s plan to adopt a common currency was being put at risk by some countries’ attempts to progress more quickly than the agreed timetable.
Nations in the region are aiming to adopt a single currency to boost trade and economic...
Sovereign wealth funds investing more at home
Trend to quicken after economic rout
Risk of missing out on cheap deals overseas
Lion’s share of investments still overseas
Famed for snapping up glitzy real estate and stakes in troubled international banks during the global financial crisis, sovereign wealth funds are...
African countries made great strides in strengthening commitments and capacity to achieve tax transparency and exchange information on illicit fund flows in 2019, the latest Tax Transparency in Africa report, launched Thursday, revealed.
Tax Transparency in Africa 2020 - produced by the Global Forum for Transparency and Exchange of Information...
Central bank governor, Ernest Kwamina Addison, said on Thursday that Ghana needs to raise more domestic revenue to tackle a ballooning budget deficit that could exceed 7% of GDP this year, as growth shrivels due to the coronavirus crisis.
The deficit hit 3.4% of GDP in the first quarter against...
...but says only if it will commit to repay
Government should tap into the Ghana Heritage Fund (GHF) if the going gets very tough, the Trades Unions Congress (TUC) has said - arguing that it is a better option than borrowing from other sources under the current coronavirus-induced economic crisis.
Ghana’s...
…in managing workers’ anxiety
For organisations to effectively manage the anxieties of their staff, coming from fear of losing their jobs or dealing with salary cuts and other inconvenient situations emanating from the impact of the coronavirus pandemic, open and honest communication, as well as responsible leadership are key, human...
The Head of Consulting at Deloitte Ghana, Roland Teye, has said that with unique scenarios being played out across the world of business, with the outbreak of COVID-19, this should inform businesses to be able to adapt to the new-normal to function.
As staff are unable to report to offices...