Business

The Electricity Company of Ghana (ECG) has cautioned customers to refrain from making payments to specific mobile money accounts purportedly linked to ECG services. Management revealed that some individuals have been contacting customers, soliciting payments to a designated MoMo number as a prerequisite for accessing ECG services. In response, ECG released a disclaimer on Thursday, February 22, 2024, advising customers ...

Recent data from Numbeo has illuminated Ghana’s position within the intricate tapestry of Africa’s cost of living landscape, offering insights into both its regional standings and underlying economic dynamics. Ranked 20th among 24 surveyed countries, Ghana emerges as one of the nations boasting a relatively lower cost of living across the continent. However, within the West African sphere, Ghana occupies ...

Former Finance Minister, Seth Terkper, has stated that the current tax regime in Ghana is the most severe and punitive in the nation’s history. The opposition National Democratic Congress has accused the New Patriotic Party government of introducing over 50 new taxes since 2017. The continuous imposition of taxes has sparked public outrage in Ghana. The most recent taxes slapped on Ghanaians ...

The National Petroleum Authority (NPA) successfully held the maiden Open Competitive Tender for LPG imports into the country on Monday, January 29th, 2024. The winning tenderer submitted the lowest premium of USD30.39/MT for the four (4) Lots that were tendered for the period from March to June 2024. This marks a significant drop from the current premiums, which range between ...

The World Bank has approved $300 million in funding to help Ghana’s economic recovery, it said in a statement on Tuesday. The decision comes after the West African country reached a deal to restructure $5.4 billion of loans with its official creditors, a milestone in Ghana’s quest for debt relief as it charts its way out of the worst economic crisis in ...

The Bank of Ghana (BOG) has acknowledged receipt of US$600 million as the second tranche of Ghana’s bailout package with the International Monetary Fund (IMF). The cash meant for budget support and stabilization of the local currency, was officially credited to the Central Bank’s account today, Tuesday, January 23, 2023. This means, Ghana has received a total of US$ 1.2 ...

The public is being encouraged to ignore allegations of a supposed national increase in transportation fares, according to the Ministry of Transport. The Ministry stated in a statement released on Wednesday, January 17, that “no negotiations have taken place with the transport operators regarding a review of the transport fares.” Therefore, we strongly advise the public to ignore the alleged ...

Africa finds itself at the crossroads of a significant transformation in the global gold trade. The relocation of Russian gold trading to Hong Kong, strategic alliances such as Mali and Russia’s gold refinery agreement, and the surge in gold prices are reshaping the continent’s role in this crucial industry. Geopolitical Dynamics Russian gold trading’s shift to Hong Kong is driven ...

Angola announced Thursday that it’s leaving the OPEC oil producers cartel, coming after it battled with the group over lower production quotas this year. Diamantino de Azevedo, the African nation’s oil minister, said Angola “does not gain anything by remaining in the organization,” according to state news agency Angop. The country joined OPEC in 2007. Disagreements over lower oil quotas ...

A new deal has been agreed at the UN climate summit in Dubai after days of negotiations. For the first time, the deal calls on all countries to move away from using fossil fuels – but not to phase them out, something many governments wanted The text recognises the need for deep, rapid, and sustained reductions if humanity is to ...