Business

Finance Minister Ken Ofori-Atta has promised to meet with President Akufo-Addo to deliberate on the exemption demand of members of the Pensioner Bondholders Forum. The decision was arrived at in a crunch meeting between the Minister and the group on day 8 of their protest for exemption. According to the convener of the forum, Dr Adu Anane Antwi, the Finance ...

Ghana’s inflation has dropped marginally for the first time in 19 months. Figures released by the Ghana Statistical Service revealed that for the month of January 2023, inflation dropped to 53.6% from the 54.1% recorded in December 2022. Inflation has been on an upward trajectory since May 2021. This means that in the month of January 2023, the general price ...

The government is said to have achieved more than the 80% target needed for the Domestic Debt Exchange Programme (DDEP). The programme is part of the requirements before Ghana can secure an economic bailout of about $3 billion from the International Monetary Fund (IMF). Some persons close to the team who worked on the programme told Joy Business the target ...

Individual Pension Bondholders are picketing at the Ministry of Finance Monday morning, demanding that they should be exempted totally from the ongoing Domestic Debt Exchange Programme.  About 50 of the bondholders wearing red armbands have thronged the Ministry’s premises with placards to register their displeasure over their expected inclusion in the programme. According to convener of the group, Dr Adu ...

The deputy Energy Minister, Andrew Egyapa Mercer, has confirmed that the initial consignment of 40,000 tons of oil brought into the country under the Gold-for-oil policy was purchased with cash and not gold as widely claimed by the Vice President, Dr Mahamudu Bawumia. His disclosure comes after several calls by Industry experts such as the Institute of Energy Securities and ...

Prices of fuel at the various pumps is expected to inch higher in the first pricing window of February, says the Institute for Energy Security (IES). Per projections made by the IES, prices of diesel, petrol, and LPG will go up by some 7% to 13%. According to the IES, the anticipated price increase follows a market rise in the ...

President Nana Akufo-Addo has called for the use of tax policies, among others to check illicit financial flows out of the continent. The president said illicit financial flows cost Africa close to 100 billion dollars which denies the continent the needed resources to facilitate growth and development. Speaking during the closing session of the maiden African Prosperity Dialogues dubbed, ‘the ...

A group of Ghanaian civil society organisations is calling on international lenders to cancel enough of Ghana’s debt to make it sustainable. They call on Ghana to be supported by the G20, and UK in particular, to stay in default on all external creditors who refuse to accept the scale of debt cancellation needed. In December Ghana announced it is ...

The Pensioner Bondholders Forum has threatened to picket at the Ministry of Finance on January 23, 2023, if the government fails to exempt them from the Domestic Debt Exchange Programme.  The Forum said it had written to the District Commander of the Ghana Police Service at the Ministries in Accra to notify the police of their intended action.  Dr Adu ...

The National Petroleum Authority (NPA) has revoked the licenses of 30 Oil Marketing Companies (OMCs) for breaching the regulations of the industry. Some of the OMCs are said to owe the government over ¢400 million cedis in the form of unpaid taxes by the end 0f 2022. A list of the companies published by the NPA said the licenses of ...