The Bank of Ghana Governor, Dr. Ernest Addison, has maintained that the Ghana cedi’s stability in 2025 will largely depend on the economy and some monetary policy measures under implementation by the Central Bank. “The Domestic Gold Purchase Programme has been one of the major factors that has contributed toContinue Reading
Local miners are currently participating in the salt harvest at Ghana’s Songor Lagoon, marking a significant milestone in their third season of harvesting since Electrochem Ghana Limited took over the concession. Communities within the Ada township, including Nakomkope, Bonikope, Ajumanikope, and Agbedrafor, commenced harvesting in late December 2024 using communityContinue Reading
Governor of the Bank of Ghana (BoG), Dr. Ernest Yedu Addison, has highlighted the need for legislative reforms to address the longstanding issue of government borrowing from the central bank. In an interview on Joy News on January 2, he called for changes to the Bank of Ghana Act that would requireContinue Reading
Governor of the Bank of Ghana (BoG), Dr Ernest Yedu Addison, has firmly dismissed claims linking the central bank’s independence to the government’s debt exchange programme. Speaking on Joy News on January 2, he clarified that the debt exchange program was a direct response to a severe national crisis and hadContinue Reading
Governor of the Bank of Ghana (BoG), Dr Ernest Yedu Addison, has firmly dismissed claims that the central bank lacks independence from the government. Speaking on Joy News on January 2, he highlighted the bank’s track record over the last eight years, stressing that the institution has consistently operated independentlyContinue Reading
Governor of the Bank of Ghana (BoG), Dr Ernest Yedu Addison, highlighted the significance of the central bank’s internationally acclaimed banking sector cleanup. In an interview on Joy News on January 2, he stated that the recognition BoG received for its decisive actions was a testament to the importance of theContinue Reading
GCB Bank has announced the temporary closure of its Liberty Branch in Accra due to a fire outbreak at the Katamanto market. The decision is to prioritize the safety of bank staff, customers and assets. In a statement, GCB Bank assured its customers that measures have been put in placeContinue Reading
The management of McDan Group of Companies says it is committed to a dialogue to resolve the issues leading to the shutdown of their terminal at the Kotoka International Airport, Accra. “Nevertheless, we remain committed to engaging in constructive dialogue to achieve a favorable resolution” the company stated. The privateContinue Reading
About 22% of banks operating in Ghana have failed to meet the the 13.0% Capital Adequacy Ratio (CAR) threshold. According to IC Insights, these banks would require continuous adherence to recapitalisation plan, enforcement of strict credit risk standards, and continued profitability to restore capital buffers to pre-Domestic Debt Exchange ProgrammeContinue Reading
Interest rates are expected to remain elevated due to increasing demand for liquidity in the short-term market. The yield on the treasury bills hit the 30% mark last Friday, December 27, 2024. The rise in yields and bids for T-bills reflects investors’ strong desire to lock in at a higherContinue Reading