A banking consultant, Dr. Richmond Atuahene, warns that banks operating in the country could face insolvency if the International Financial Reporting Standard (IFRS) 9 is applied strictly, following their participation in the Domestic Debt Exchange Programme (DDEP).
Already, indications point to the fact that foreign-owned banks, including South Africa-based Standard...
The Ghanaian-German Economic Association (GGEA) seeks to engage with the Ghana Revenue Authority (GRA) on the New VAT Amendment Act and Tax Regime.
The Association at its business Forum on Ghana's Economic Outlook, under the theme Ghana's Path to Economic Recovery, reckoned that there's a critical need for the GRA...
Minister of Lands and Natural Resources, Samuel Abu Jinapor, again reiterated that forest reserves must remain no-mining zones - except in some exceptional situations - when he appeared before parliament to brief it on efforts to curb illegal mining.
To this end, he said, government had ceased issuing reconnaissance, prospecting...
While members of the Pensioner Bondholders Forum continue picketing at the Finance Ministry, parliament has, as a matter of urgency, requested the Minister of Finance, Ken Ofori-Atta, to brief the House on details of the Domestic Debt Exchange Programme being implemented by government.
Members of Parliament (MPs) are of the...
Minority Leader and Ranking Member of the Finance Committee in parliament, Dr. Cassiel Ato Forson, commenced parliamentary duties this week by recommending that a halt be placed on tax waivers to save the economy much-needed revenue in the face of current economic challenges.
The World Bank has advised government to...
The Venture Capital Trust Fund (VCTF) was established by Venture Capital Trust Fund ACT, 2004, (ACT 680) to provide financing to small and medium-sized enterprises (SMEs) by easing access to long-term funding to SME’s.
VCTF’s Chief Executive Officer, Yaw Owusu-Brempong, has revealed that in the next five years, the Venture...
The same Auditor-General’s report suggests the National Health Insurance Authority (NHIA) owes 78 health institutions across the country to the tune of GH₵51.4million as at December 31.
This is in contravention of Regulation 38 of the National Health Insurance Regulations, 2004 (L.I.1809), which requires that a claim or payment of...
Johnson Akuamoah Asiedu, the Auditor-General, in his latest report has raised some pertinent questions about Ghana Cocoa Board’s (COCOBOD) increasing debt burden.
The debt accumulation emanates from short-term cocoa loans of about GH¢8.49billion; BoG 10-year loan of almost GH¢1.4billion; medium-term loans in a total of GH¢1.28 billion; as well as...
A recent report published by the Bank of Ghana has revealed further details regarding irregularities with microfinance companies and savings and loans institutions, with new information indicating that most of these companies diverted funds into other ventures - thereby leading to their insolvency.
A collaborative effort by the Joint Receivers,...
Head of Digital and Inclusive Banking at the Bank of Ghana, Martha Acquaye, expresses confidence that the Central Bank Digital Currency (eCedi) will revolutionise Ghana’s payment and settlement system by making markets more diverse and competitive.
She is confident that introduction of the eCedi will bring about a more effective...