Business

The Ghana Cocoa Board (COCOBOD) has responded to claims of consistent default on its loans, clarifying its financial obligations and repayment status. According to COCOBOD, as of December 31, 2022, its total debt to the Bank of Ghana stood at GH¢8.24 billion. This includes a GHS1.99 billion 10-year loan facility and an overdrawn Cocoa Bills Retirement Account amounting to GH¢6.86 …

The Finance Minister, Dr. Mohammed Amin Adam, has reported some progress in paying investors following the completion of the Domestic Debt Exchange Programme (DDEP) in September 2023. According to the Minister, the third payment of the coupon will be in August 2024. An occurrence he noted proves government commitment to honor its financial obligations. Addressing Parliament when presenting the Mid-Year Budget Review, he …

Finance Minister Dr. Mohammed Amin Adam, has revealed that the government has invested almost GHC10 billion in the road sector since January, 2024 to enhance transportation and spur growth He made this information known to the entire country when he delivered the 2024 Mid-Year Budget Review on the floor of Parliament on Tuesday, July 2023. “I can also confirm that Government has …

Out of about 7.9 million registered taxpayers in the country, only about 1.5 million pay taxes. This was revealed by a Deputy Minister of Finance, Dr. Alex Ampaabeng at the launch of the 8th Ghana Economic Update by the World Bank. According to him, his outfit and the Ghana Revenue Authority are presently cleaning the tax database to ensure the …

Finance Minister Dr Mohammed Amin Adam has engaged members of the Arab Coordination Group to support the Government’s growth strategy which targets an investment of $12 billion.   The Government, having successfully undergone both domestic and external debt restructuring and moved onto the path of economic recovery, seeks to have investments in key sectors of the economy in the next three years.   The …

Latest data from the Ghana Statistical Service indicates that the Producer Price Inflation rate for June 2024 has increased to 25.9%, higher than the 23.6% recorded in May 2024. This rate indicates that between June 2023 and June 2024, the rate increased by 25.9 per cent. The increase represents a 2.5 percentage point surge in producer inflation relative to the …

Ghana Hostels Limited has announced the room rates for the 2024/2025 academic year at the African Union, commonly known as Pent Hostel, at the University of Ghana. National students will pay GHC 6,663.30 per academic year for a room in the New Pent block and GHC 5,955.00 per academic year for a room in the Old Pent block. These rates apply …

Ghana’s Foreign Affairs and Regional Integration Minister, Shirley Ayorkor Botchwey, has announced that a new bill concerning the Ghana Boundary Commission is currently before Parliament. “The Parliament of Ghana is considering a new act that will enhance the capacity of the Ghana Boundary Commission to meet international best practices. Our region has immense growth potential, but this potential can only be …

The Social Security and National Investment Trust (SSNIT) has announced that selling 60% of its shares in four hotels to a private investor was the only viable option to restore its financial stability. This decision comes amidst concerns about a change in management and controversies suggesting that SSNIT did not follow due process before opting to sell its shares in these hotels. …

The National Association of Sachet and Packaged Water Producers (NASPAWAP) has aligned with plastic manufacturers in urging the government to indefinitely suspend the recently imposed 5 per cent excise tax on finished plastics. The association warns that this tax would significantly burden consumers. In a statement, NASPAWAP highlighted the substantial price increases in bottled and sachet water since January 2024, …