Gold produced in Ghana is primarily exported to four countries. According to the Trade Statistics Report from the Ghana Statistical Service, United Arab Emirates (40.1%) led the destination of gold export followed by Switzerland (30.1%), South Africa (22.2%), and India (6.8%). Together they accounted for 99.2% of gold export fromContinue Reading
Tullow Oil Plc has announced that its Chief Executive Officer Rahul Dhir, will step down from his role and resign from the Board in 2025 to focus on other business, academics and family interests. The Board of the UK-based oil exploration company has commenced the search for a successor. DhirContinue Reading
About 40% of Ghana’s gold were directed to the United Arab Emirates (UAE), making it the top destination for the country’s gold exports.Tourism packages Switzerland followed as the second-largest destination for Ghana’s gold exports, receiving 30.1%. South Africa and India ranked third and fourth, accounting for 22.2% and 6.8% ofContinue Reading
The government has admitted that the parliamentary impasse has stalled the disbursement of $300 million in World Bank funding for Ghana.Tourism packages This amount is part of a larger financial support package from the World Bank aimed at stabilising the economy, financing critical sectors, and addressing fiscal deficits. However, theContinue Reading
The Executive Board of the International Monetary Fund (IMF) has approved the disbursement of $360 million to Ghana under its $3 billion Extended Credit Facility (ECF). This follows the successful completion of Ghana’s third review under the program, as announced on Monday, December 2, 2024. The latest disbursement brings Ghana’sContinue Reading
Ghana’s public debt has fallen to GH¢761 billion as of October 2024. This is a GHS46.8 billion decrease compared to the GH¢807.8 billion recorded in September 2024. According to latest data from the Bank of Ghana, the new public debt figure represents 74.6% of Gross Domestic Product (GDP). In dollarContinue Reading
The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has maintained the policy rate at 27%. Holding the policy rate steady after it was lowered from 29% in September 2024 is aimed at anchoring inflation expectations and curbing exchange rate volatilities. The decision was taken after the committeeContinue Reading
Production from Ghana’s Jubilee oil field dipped to 89,000 barrels per day (bpd) in October 2024, slightly down from 90,000 bpd in July, according to Tullow Oil’s latest trading update.Tourism packages The decline is attributed to operational setbacks – with the key element being outstanding debts owed by the government.Continue Reading