The Bank of Ghana (BoG) has issued the bancassurance directives as an Exposure Draft to solicit comments and inputs from the banking industry and the general public, in line with the BOG’s Procedures for Issuance of Directives, 2020. According to the BoG, Bancassurance has notably grown in Africa and aroundContinue Reading
Professional services firm, Deloitte, is predicting a persistence reduction in interest rates in 2025 on the back of a sustained disinflationary trend. It is thus forecasting an end-year policy rate of 22.5% in 2025. This will come as a huge relief for households and businesses as cost of borrowing willContinue Reading
Despite facing significant challenges in 2022, Ghana’s Liquefied Petroleum Gas (LPG) consumption saw a modest increase of 4% in 2023. According to recent data by the Ghana Chamber of Bulk Oil Distributors’ 2023 Industry Report, LPG consumption rose from 305,076 metric tons in 2022 to 317,465 metric tons in 2023.Continue Reading
Removing the E-Levy and COVID-19 tax is projected to result in a total GHS 22.15 billion revenue loss between 2025 to 2027. The ambitious proposal by the President-elect, John Dramani Mahama to have these tax lines scrapped has sparked concerns about its feasibility, particularly under Ghana’s ongoing IMF-supported programme. TheContinue Reading
The International Monetary Fund (IMF) has urged the Bank of Ghana (BoG) to maintain a tight monetary policy stance given upside risks to inflation while doing more to advance the Fund’s advice on safeguards. According to the Fund, a tight policy stance, supported by robust liquidity absorption operations, is warrantedContinue Reading
Ghana spent 42% of its revenue to servicing debt between 2017 and 2022, according to the 2024 United Nations report on Unpacking Africa’s Debt. This marks a significant increase compared to the 2010–2016 period, during which 27% of Ghana’s revenue was used to service debt. The 15-percentage-point rise in debt servicingContinue Reading
Fitch Ratings expects the outlook for sub-Saharan African sovereigns to be neutral in 2025. This the UK-based firm says will reflect a stronger macroeconomic outlook and modest fiscal consolidation balanced against still-challenging financing conditions and political and insecurity risks. It forecasted Gross Domestic Product (GDP) growth rate to improve drivenContinue Reading
Ghana’s 2023 external position was moderately stronger than the level implied by fundamentals and desirable policies. Against the backdrop of fiscal consolidation, the International Monetary Fund said strong gold exports, deferred external interest payments and high remittances the Cumulative Assessment narrowed noticeably. “Strong reserve accumulation through the gold-for-reserves program ledContinue Reading
For Ghanaian passengers desiring home cooking on board the ACC-JFK route, Delta Air Lines provides the comfort of local flavors modified by customer feedback in flight, just in time for holiday travel. Local Emphasis Delta partners with local chefs and catering stations in Ghana to ensure that the food servedContinue Reading
African banks will remain exposed to domestic and global operating environment risks in 2025, Fitch Ratings has disclosed. It pointed out in its African Banks Outlook 2025 report that while most countries are showing a good degree of resilience, a fall in commodity prices cannot be ruled out. It addedContinue Reading