President John Dramani Mahama’s first 100 days are expected to feature a series of “scrapping” measures and tough decisions aimed at eliminating controversial tax handles introduced by the Akufo-Addo administration. In fact, in the National Democratic Congress (NDC) 2024 Manifesto, President Mahama promised to scrap four taxes, including import dutyContinue Reading
Inflation for December 2024 went up marginally to 23.8 percent from the November 2024 figure of 23 percent. This is higher than the revised 20 percent end-of-year target set by the Bank of Ghana. The marginal increase in the December inflation was influenced by rising prices of some foodstuffs onContinue Reading
The Ghana Union of Traders Association (GUTA) has appealed to banks and financial institutions to reschedule the financial obligations of traders at the Kantamanto market, following the devastating fire outbreak last week. Speaking to journalists after the association donated GH₵40,000 to support the reconstruction of the market, the First ViceContinue Reading
Fuel prices have seen a marginal increase in the first pricing window of January 2025, causing concerns among consumers and stakeholders. State-owned oil marketing company GOIL, adjusted its prices upwards, effective January 2, 2025. Petrol, which was sold at GHȼ14.75 per litre in the second pricing window of December 2024,Continue Reading
The cedi is projected to close 2025 around GHȼ 17.70 with a potential deviation of ± GHp20. This forecast by Databank Research suggests a relatively stable foreign exchange market this year, supported by key economic and market drivers. Databank Research in its 2025 Ghana Market Outlook, attributes the cedi’s expectedContinue Reading
President John Mahama has assured that his administration will champion policies that will propel the growth of the private sector to lead the country’s economic development. Speaking at the Independence Square after he was sworn in as Ghana’s sixth President of the Fourth Republic, Mr Mahama pledged to provide anContinue Reading
The consistent debt commitments are expected to help Ghana lift its Long-Term Foreign-Currency (LTFC) Issuer Default Rating (IDR) from its current Restricted Default status to a triple C. This should further boost investor confidence in the near term. Databank Research said it remain optimistic that the likelihood of a defaultContinue Reading
The Bank of Ghana (BoG) has cautioned authorized foreign exchange (FX) brokers against breaching the Ghana Interbank FX Market Conduct Rules. It warns that violations will attract severe penalties, including potential revocation of authorisation. This comes as the central bank authorizes 15 brokers to operate in the interbank forex marketContinue Reading
The First Vice President of the Ghana Union of Traders Associations (GUTA), Clement Boateng, has appealed to the Gbese Mantse II to exercise leniency towards traders affected by the recent Kantamanto Market fire. He urged the paramount chief to allow the traders to temporarily erect wooden structures to sustain theirContinue Reading
The Social Security and National Insurance Trust (SSNIT) has increased monthly pensions by 12% for 2025. This was done in consultation with the National Pensions Regulatory Authority (NPRA) and line with Section 80 of the National Pensions Act, 2008 (Act 766). According to SSNIT, all pensioners on its pension payrollContinue Reading