Ghana became the first sub Saharan African country to halve extreme poverty, an indication that the country’s economic policies are having the desired impact, MARK DEAN of Your Business Watch writes. Ghana became the first sub Saharan country to halve extreme poverty in relation to the UN Millennium Development Goals, according to a United Nations … Read more
Ghana became the first sub Saharan African country to halve extreme poverty, an indication that the country’s economic policies are having the desired impact. MARK DEAN of Your Business Watch writes. Ghana became the first sub Saharan country to halve extreme poverty in relation to the UN Millennium Development Goals, according to a United Nations … Read more
Government’s decision to restructure Volta River Authority’s (VRA) debts has been well received by banks in the country which are hoping such arrangements will be made for other State-Owned Enterprises whose indebtedness have suffocated the operations of the financial institutions, the Bank of Ghana has said. Additionally, banks are also craving for similar restructuring arrangement … Read more
A top adviser of U. S. President-elect Donald Trump lashed out at the Obama administration for failing to embrace the China-led Asian Infrastructure Investment Bank (AIIB), suggesting a possible policy shift when Trump takes office in January. Hong Kong’s South China Morning Post said that Trump’s national security adviser, James Woolsey, called the Obama’s administration’s … Read more
Despite a recent report by the Central Bank that overall performance of the banking sector as at July this year was strong, the quality of loans on the banks’ books generally worsened compared to 2015. The report revealed that defaulters, mainly indigenous companies, received 61.2 percent of credit to private enterprises but accounted for 71.8 … Read more
New figures released by the Bank of Ghana (BoG) reveal demand for loans for house purchase by customers of banks have reduced despite an ease in credit access by commercial banks. Banks in July 2016 eased their credit stance to households for house purchase and consumer credit. Despite the move demand for mortgages saw a … Read more
Actors in the agriculture sector are reacting variously to Bank of Ghana’s initiative to attract funding to the sector, with some commenters asking for direct cash transfers to farmers, whilst others favour agric insurance over the central bank’s offer of guarantees. Richard Nunekpeku, Chief Farmer of Anyako Farms at Torgorme in the Volta Region, believes … Read more
The government plans to print new 500 and 2,000 rupee notes, to be rolled out later in the week India’s sudden withdrawal of 500 and 1,000 rupee notes from circulation has caused chaos, with petrol stations and other retailers refusing to accept the larger notes and bank cash machines staying closed. In a televised address … Read more
The new financial stability report of the Bank of Ghana (BoG) has revealed that Ghanaian companies are still the biggest contributor of bad loans on the books of banks. According to the new report which covers developments in the Ghanaian banking sector for the first seven months of 2016 compared to the same period last … Read more
Price of gold have gone up globally as Donald Trump is elected the President Of the United States of America. Investors dumped risky assets for gold which is a safe haven asset after it became apparent that Hilary Clinton will loose the race. Gold enjoyed its biggest daily rally since the Brexit vote, as investors … Read more
UK stocks have followed falls in Asian and European markets after Donald Trump won the US election. The FTSE 100 index was down about 0.5% to 6,812 in the first hour, although that was less steep than expected. Other major European stock markets are also lower, with money flowing into safe haven stocks, gold and … Read more
6:51 Clinton stays in hotel The reporter assigned to cover Clinton for all the networks has tweeted that she is staying behind in her hotel, as her campaign manager heads to the Javits Center where her supporters have gathered. Wow. Pooler @danmericaCNN reports that Clinton campaign chair John Podesta just left HRC hotel to come … Read more
The Ministry of Finance (MoF) has assured Parliament of the Electricity Company of Ghana’s (ECG) capacity to repay the on-lend loan of US$ 60 million which is meant for the phase II of the Ghana Energy Development and Access Project (GEDAP). Parliament last week approved a loan agreement between the Government of Ghana and the … Read more
The Finance Minister, Mr Seth Terkper, has charged banks to conduct due diligence on loan applications by contractors and suppliers who seek to raise funds to pre-finance government contracts. He said that would inform the banks about whether the awarding government agencies have the budget to pay for the contract when the certificate is presented … Read more
The Ministry of Finance (MoF) has assured Parliament of the Electricity Company of Ghana’s (ECG) capacity to repay the on-lend loan of US$ 60 million which is meant for the phase II of the Ghana Energy Development and Access Project (GEDAP). Parliament last week approved a loan agreement between the Government of Ghana and the … Read more
Mexico is bracing for a Donald Trump presidency. Experts anticipate that Mexican officials will take immediate action on Wednesday to save their currency, the peso, from crashing if Trump wins — a scenario Mexico’s central bank governor called a potential “hurricane.” “They will react immediately. They won’t be sitting on the sidelines for two or … Read more
As China announced the appointment of a new finance minister on Monday, analysts said major fiscal policies will not change and the country can use more policy tools to help anchor its economic growth. Xiao Jie, a former tax chief and deputy finance minister, is the new minister, according to a decision passed at a … Read more
An amount of GH¢1 million has been approved by government to the Accra Psychiatric Hospital to help mitigate the crisis at that facility. The Ministry of Finance is currently working on the necessary processes for the release of the funds. This comes after the Ministry of Health (MoH) released a cheque for GH¢300,000 and provided … Read more
The Ghana Agricultural and Rural Development Journalists Association (GARDJA) is accusing government of not showing enough commitment to developing the country’s agricultural sector. The Association cites high-interest rates on credit for farmers and decline in subsidies for the claim. “Whilst 44 percent interest rate is charged on credit for agriculture, there is no partial guarantee … Read more
Total assets under the management of private pension funds have reached GH¢6.4billion as at September this year, Baba Jamal, Deputy Minister of Employment and Labour Relations has disclosed. The assets under management by the private pension funds indicates a substantial potential of the pension market, which the fund managers want to capitalize on to boost … Read more