The International Monetary Fund has indicated that it will formally assess Ghana’s progress in meeting key commitments in April 2025. This will be in the context of the fourth review of the Extended Credit Facility arrangement. The Fund pointed out this in a statement after a Staff team led by StéphaneContinue Reading
Ghana’s cocoa sector, a cornerstone of the nation’s economy, has been faltering over the years with cocoa output for the 2023/24 falling to its lowest since 2016. The Ghana Cocoa Board (COCOBOD), the state-owned entity tasked with managing the industry, is grappling with financial instability, prompting the World Bank toContinue Reading
An International Monetary Fund (IMF) staff team, led by Stéphane Roudet, visited Ghana from February 10 to 14 to discuss the country’s macroeconomic outlook and policy direction with government officials and key stakeholders. In a statement at the end of the visit, he noted that the mission team engaged GhanaianContinue Reading
The Finance Minister Dr. Cassiel Ato Forson is now expected to present the 2025 Budget to Parliament on March 11, 2025. This was after the initial date of March 10 proposed by the Ministry of Finance was changed because parliament does not sit on Mondays. Majority Leader, Mahama Ayariga, whoContinue Reading
Ratings agency, Fitch has pointed out that Nigerian banks are making significant progress in raising core capital to meet new paid-in capital requirements and are meeting the first quarter 2026 deadline, According to the UK-based firm, this is supporting a recovery in capitalisation from the impact of naira devaluation, providingContinue Reading
Banks in Ghana are ranked 4th in Sub-Saharan Africa (SSA) in terms of Natural Disasters Score. According to Fitch Solutions Climate Change and Opportunities for SSA Banking Sectors report, banks in South Africa are the safest from natural disasters. Coted’lvoire and Botswana placed 3rd and 4th respectively. In the top 10 wereContinue Reading
The average lending rate of 28.6% for secured loans by banks in Quarter four (Q4) 2024 was the lowest across all the lending institutions, the Bank of Ghana has revealed. This is compared with 28.8% in Q4 2023. This was followed by the Finance and Leasing companies with an averageContinue Reading
The sudden shutdown of USAID under President Trump’s executive order has dealt a significant blow to Kenya’s startup ecosystem, cutting off a crucial source of non-dilutive funding. Over the past decade, USAID’s Development Innovation Ventures (DIV) program has injected over $100 million into Kenyan startups, supporting innovations in agriculture, healthcare, clean energy, and fintech. ThatContinue Reading
Economist Dr Priscilla Twumasi Baffour has warned government against rushing to remove taxes it promised to scrap if doing so would negatively impact national revenue. Speaking on Joy News, she stated that while tax cuts may be politically appealing, the economic reality must take precedence to avoid worsening Ghana’s fragileContinue Reading
The Ministry of Finance has outdoored a major new report on Ghana’s Value Added Tax (VAT) structure. Titled “A review of Ghana’s VAT system”, the report, was jointly produced with researchers from the Institute for Fiscal Studies (UK) and the Ministry of Finance. The report analyses the design and administrationContinue Reading