Business

The Executive Director and Staff Members of the Integrated Social Development Center (ISODEC) on Monday, September 16, 2024, discussed its draft Financial Management Manual which is meant to guide the monetary control systems of the organization. The Manual seeks to provide a structured approach to financial decision-making, while enabling ISODEC to make informed, data-driven decisions that align with its strategic ...

The Attorney General and Minister of Justice, Godfred Yeboah Dame, has called on top global actors in the fight against cross-border economic and financial crimes to step up cooperation efforts to root out the growing global phenomenon. According to Godfred Dame, the survival of the global community is dependent on how effectively it can foster collaboration between its justice partners ...

The Director of Communications of the Electricity Company of Ghana (ECG) has revealed that the company incurred serious losses in the last two months due to the upgrading of its prepaid metering system. William Boateng stated that between July and August 2024, ECG recorded a revenue shortfall of over GH¢893,158,654. In an interview with Graphic Online, Mr Boateng blamed the ...

The Institute for Fiscal Studies (IFS) has predicted that Ghana’s economic woes will deepen if it continues to adopt domestic financing of the national budget. According to IFS, the government’s inability to access the Eurobond market has resulted in stiff competition with the private sector for loans to fund the budget, a development which is likely to lead to a ...

The Bank of Ghana (BoG) has asserted that the government’s Gold for Oil policy is progressing as planned. The initiative was launched by the government to address Ghana’s depleting foreign currency reserves and the high demand for dollars by oil importers, which was exerting downward pressure on the Cedi and driving up living costs. During an appearance before the Public ...

Professor of Finance at the University of Ghana, Godfred Bokpin, says the government has not demonstrated effective management of the funds it has borrowed in the name of the crises that have hit the country over the past eight years. According to him, even though the public debt stock has ballooned over the period, there is not much to show ...

Disability rights advocacy groups have decried the lack of priority given to social welfare in the allocation of petroleum revenue. The groups, under the auspices of the Ghana Federation of Disability Organisations (GFD), made their views known yesterday at a forum organised by the Public Interest and Accountability Committee (PIAC). According to the groups, the absence of social welfare from ...

The World Bank in its eighth Ghana Economic Update, says the country has seen ‘steady progress’ in the past year towards economic stabilisation though challenges remain. The report attributed what it described as a “modest recovery” in the Ghanaian economy to a firm monetary policy stance, comprehensive debt restructuring, and a series of structural reforms to support long-term growth. It, ...

Finance Minister Dr. Mohammed Amin Adam is scheduled to present the 2024 Mid-Year Budget Review in Parliament on Tuesday, July 23, 2024. Deputy Majority Leader Patricia Appiagyei made this announcement, stating that the Finance Minister will revise the government’s projections for the year in light of the recently announced IMF balance of payment support. This presentation is expected to provide ...

President Nana Addo Dankwa Akufo-Addo has called on African Leaders to work with a sense of urgency to stop the illicit financial outflows from the continent. He said they needed to pay serious attention to and arrest the situation, which was depriving Africa of significant resources that could be used to support its development. The President made the call at ...