Consumer inflation has further increased to 37.2 percent in September 2022 - inching closer to the 40 percent mark last seen in the early 2000s. The annual inflation rate accelerated for the 16th straight month by 3.3 percentage points from 33.9 percent in August 2022, the highest reading since June...
The Institute of Economic Affairs (IEA) is leading efforts to introduce a legislative cap on the amount of national debt that can be incurred by the Ghanaian Treasury, and is courting the support of principal stakeholders to see it come to fruition. The public policy think-tank is seeking an instrument...
The Ministry of Finance (MoF) and the Bank of Ghana (BoG) have constituted a five-member Consultative Committee consisting of prominent financial services professionals to lead extensive stakeholder engagements across all the key segments of the financial sector. The committee is chaired by Mr. Albert Essien, with Mr. Simon Dornoo as...
Continuous rating downgrades could dampen investors’ appetite for Ghana and further tighten access to credit for businesses, economist and president of Africa Investment Group Dr. Sam Ankrah has said. The country’s credit situation has been a source of concern for businesses for some time, particularly issues concerning cost and availability....
FanMilk PLC, a Danone Company, has inaugurated three green projects at its North Industrial Area Plant in Accra in line with global efforts to accelerate to net zero carbon emissions. Built at a total cost of €7million, the projects, a Wastewater Treatment Plant, Biomass Boiler and Solar Power Installation are...
The Bank of Ghana Governor, Dr. Ernest Addison, has thrown his weight behind discussions which call for putting a ceiling on borrowing, given deep concerns about the country’s public debt after the World Bank released a damning report on the economy. According to the World Bank’s Africa’s Pulse report (October...
In this great big world of digitisation seemingly on steroids, and innovations springing up faster than mushrooms overnight after a good soft rain, it is more than easy to be considered out of fashion and outside of the spectrum of useful and technological applications. Yet somehow, Unstructured Supplementary Service Data...
Egypt intends to call on rich nations to fulfil pledges to support poorer countries in their transition to cleaner energy and build resilience to future climate shocks. Egypt intends to “leverage African leaders’ voices to mobilise greater support for a green and resilient recovery in Africa,” the UN Economic...
The Cedi weakened marginally to a fresh dollar low this week, trading at 10.48 from 10.45 at last week’s close. Moody’s became the latest to cut Ghana’s credit rating, lowering by one rung to Caa2, eight levels below investment grade, citing macroeconomic deterioration that has dealt a further blow...
assures bank will leverage brand equity to turn tide around The Chief Executive Officer (CEO) of UMB Bank, Nana Dwemoh Benneh, has said that for financial institutions, in general, and banks in particular, to successfully navigate the current economic downturn, there is the need to place added emphasis...