The Bank of Ghana has withdrawn foreign exchange support to customers for the importation of certain non-critical or essential goods. Joy Business however understands that the withdrawal of the FX support for the importation of these non-essential goods took effect in the past three weeks. The goods affected include rice, poultry, vegetable oils, toothpicks, pasta, fruit juice, bottled water and ...

The Bank of Ghana has debunked allegations by the Member of Parliament, Isaac Adongo, that the Central Bank lent a total of GH¢70 billion to the government from 2021 till date. According to them, the allegations are false and unfounded. In a press statement debunking the claims and providing “the facts”, the BoG said: “The Bank of Ghana’s attention has been drawn to a ...

The Agric Ministry earlier stated that the insufficient foodstuff at its Planting for Food and Jobs market (PFJ) was due to a delay in the arrival of a “big truck” full of plantains. But the big truck has arrived at the Ministry ready to be sold to patrons, GhanaWeb can confirm. A number of persons have also trooped into the ...

Minister of Communications and Digitalization, Ursula Owusu-Ekuful, has announced that all unregistered SIM cards will be deactivated by the end of this month, November. In a press statement sighted by GhanaWeb, the Minister noted that the move forms part of measures to reduce SIM related fraud incidents in the country. She added that a total of 20,892,970 subscribers have completed the ...

Alfred Tuah Yeboah The office of the Attorney General has served notice to all persons involved in the collapsed of financial companies in Ghana. According to the state prosecutor, all persons whose action and inaction led to the collapsed of the nine banks during the financial sector reforms undertaken by the central bank will face full rigors of the law. ...

Business News of Tuesday, 8 November 2022 Finance Minister, Ken Ofori-Atta, has said he is aware the frequent depreciation of the cedi was having dire consequences on local businesses and Ghanaians at large. He admitted that Ghanaians were also living under harsh economic conditions with the prices of goods and services skyrocketing by the day. Speaking at a forum organized by ...

The Bank of Ghana (BoG) warned the general public against the practice of “Money Doubling”, “Card Loading” and “Credit Card Loading Systems” in October 2020. The bank stated that any act that involves the deposit of money must be undertaken by a licensed deposit-taking institution. Therefore the public must be careful not to fall victim to these schemes. “The invitation ...

Business News of Monday, 10 October 2022 According to the regional minister, Joshua Makuba, the discovery of the natural resource will transform the domestic economy and increase Ghana’s export potential. Speaking with journalists at the Minister’s Press Briefing in Accra on October 9, 2022, the regional minister said, “I want to advise people in Accra to start looking for land ...

Management of the Ghana Revenue Authority (GRA) says the Electronic Transactions Levy (E-Levy) has raked in GH¢328 million from the Tax Measure since its implementation. The Commissioner-General of the GRA, Rev. Dr. Ammishaddai Owusu-Amoah, who made this known at a meeting with Business Editors in Accra, said GRA continues to witness increases in sums collected monthly. “We continue to see ...

As part of efforts to boost cocoa production through the purchase of cocoa beans, the Ghana Cocoa Board (COCOBOD) has signed a $1.13 billion syndicated loan for the 2022/2023 cocoa crop season with some banks. The banks are; Ghana International Bank, French Investment Bank – Natixis, Standard Chartered Bank, Rabo Bank, Commercial Bank of China and Japanese Bank, MUFG. The ...