Joy Business News

April 29, 2024 06:15 - 15 minutes - 13.8 MB

News from the world of business.

Middle income status

April 26, 2024 06:15 - 8 minutes - 8.17 MB

International Monetary Fund Designates Ghana as Middle-Income Country in Latest Report.

Air Travel

April 25, 2024 06:15 - 9 minutes - 9.11 MB

Delta Air Lines Deploys State-of-the-Art Airbus A330-900neo on Nonstop Service from Accra to New York-JFK

Power Supply

April 24, 2024 06:15 - 8 minutes - 7.81 MB

Ghana Grid Company is expected to receive about 100MW of electricity to boost supply, as stated by West Coast Gas Ghana Limited.

Inflation rate

April 23, 2024 06:15 - 9 minutes - 9.03 MB

Inflation rate expected to decline to 24% by April 2024

Cedi Stability

April 22, 2024 06:15 - 9 minutes - 8.45 MB

Fitch projects the Ghana Cedi to appreciate and trade at 12 cedis to the dollar by close of year.

Transforming Accountability

April 19, 2024 06:15 - 10 minutes - 9.96 MB

Government set to enforce strict publishing of audit findings every quarter as part of the cash waterfall mechanism.

Dept to GDP ratio

April 18, 2024 06:15 - 10 minutes - 9.8 MB

IMF Forecasts Ghana’s Debt-to-GDP Ratio to Reach 84% in 2024

LPG marketer's Association

April 17, 2024 06:15 - 9 minutes - 8.3 MB

LPG marketers' association accuses government of trying to collapse their businesses with the imposition many taxes

National Petroleum Authority

April 16, 2024 06:15 - 11 minutes - 10.1 MB

NPA to roll out controversial benchmarks for fuel pricing

Ghana's Economic Growth

April 12, 2024 06:15 - 10 minutes - 9.48 MB

Ghana’s economy to expand by 3.5% this year contrary to World Bank’s 2.9%- Fitch Solutions

The 'Gold for Oil' Conundrum

April 10, 2024 06:15 - 10 minutes - 9.74 MB

Bank of Ghana refuse assertions ‘Gold for Oil’ program has negatively affected the level of gold exports.

Ghana's Economic Status

April 08, 2024 18:15 - 9 minutes - 8.52 MB

The World Bank is expecting Ghana’s growth rate to achieve more than a 3.0% in 2025.

Price Stabilization and Recovery Levy

April 04, 2024 18:15 - 9 minutes - 8.75 MB

The National Petroleum Authority (NPA) has reversed the suspension of the Price Stabilization and Recovery Levy on the price build-up of petroleum products.

3rd Tranche of IMF Deal

April 01, 2024 18:15 - 10 minutes - 9.47 MB

Staff of the International Monetary Fund (IMF), have landed in Ghana to conduct the second review of the three-year $3 billion IMF-backed Programme for Economic Growth (PC-PEG) post-COVID-19.

The National Petroleum Authority (NPA), will from April 2024 set the “floor” for pricing of petroleum products in Ghana, which will prevent any industry player including the Oil Marketing Companies (OMCs) and Liquefied Petroleum Gas Marketing (LPGMC) Firms from pricing below that value or benchmark.

2024 Interest Rates

March 24, 2024 18:15 - 9 minutes - 8.53 MB

Interest rates tumbled for the 12th consecutive week in 2024 in line with most analysts forecasts. The 91-day bill fell by 50 basis points to 25.99%.

Damaged Internet Cables

March 21, 2024 18:15 - 10 minutes - 9.27 MB

The Subsea cable landing Service providers have set sail for their vessels to commence work on cut subsea cables.

Ghana's Debt Situation

March 18, 2024 06:15 - 7 minutes - 6.6 MB

The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, is advising Ghana to reach a better deal with its Eurobond holders, saying, failure to do so risks prolonging Ghana’s debt situation.

Free Mobile Roaming Services

March 12, 2024 06:15 - 10 minutes - 9.16 MB

The Ghana government through the National Communications Authority is in talks with The Gambia and Benin to roll out free mobile roaming services for their citizens.

Bad Debt

March 10, 2024 18:15 - 8 minutes - 8.13 MB

Banks in Ghana wrote off GH¢4.33 billion as bad debt in 2023, a 79.2% reduction over that of 2022.

Dr. John Kumah's Demise

March 08, 2024 06:15 - 10 minutes - 9.96 MB

The Minister of Finance, Dr Mohammed Amin Adam, has expressed profound sadness following the passing of Dr John Ampontuah Kumah, the late Deputy Finance Minister. The 45-year-old Ejisu MP passed on after he reportedly succumbed to a brief illness on Thursday, March 7, according to sources close to his family.

Anti LGBTQ Bill

March 06, 2024 06:15 - 9 minutes - 8.5 MB

Economist, and Dean of the University of Cape Coast (UCC) Business School, Prof John Gatsi has argued that the Bretton Wood institutions cannot penalize Ghana, and consequently withdraw financial assistance to the country based on factors such as passing a law against LGBTQ+.

IPP Debt Restructuring Agreement

February 29, 2024 06:15 - 10 minutes - 9.3 MB

Government is targeting the end of March this year to sign off debt restructuring agreement reached with Independent Power Producers (IPPs). Government has also stated that the debt owed the power producers has been reduced to about $700 million.

Cedi Depreciation

February 27, 2024 06:15 - 9 minutes - 8.73 MB

The Ghana cedi has lost about 4.44% in value to the US dollar since the beginning of the year. Last week, the local currency weakened 1.37% to the American greenback week-on-week, as a result of immense corporate demand and cedi-funded foreign exchange pressure.

Interest Rate

February 26, 2024 06:15 - 8 minutes - 8 MB

Interest rates eased for the 8th week running on the treasury market but marginally. Indeed, the yields on the treasury bills continued to ease in line with most analysts' forecasts.

Interest Rate

February 19, 2024 06:15 - 11 minutes - 10.3 MB

Interest rates fell for the seventh consecutive week despite a marginal increase in the January 2024 inflation. According to the auction results by the Bank of Ghana, the government exceeded its target once again.

Local Currency Depreciation

February 13, 2024 18:15 - 8 minutes - 8.2 MB

The persistent demand pressures for the dollar would continue to weigh negatively on the cedi's performance this week. This follows a marginal depreciation of the local currency last week, taking its year-to-date loss to about 3.0%.

Ghana's Treasury Bills Sale

February 12, 2024 06:15 - 9 minutes - 8.86 MB

Government raised GH¢6.86 billion via treasury bills, the biggest so far this year. According to the latest T-bills auction by the Bank of Ghana, the government recorded 51.8% oversubscription of the T-bills sale. The target for the auction was GH¢4.58 billion.

Ghana’s Revenue Growth

February 08, 2024 06:15 - 10 minutes - 9.61 MB

Government under Pressure to explore new options to improve Ghanas Revenue position after abolishing VAT on domestic electricity consumption.

Ghana’s Debt Restructuring

February 07, 2024 06:15 - 7 minutes - 6.92 MB

Government aims to conclude debt restructuring negotiations with commercial creditors by end of February

IMF Bailout

February 06, 2024 06:15 - 12 minutes - 11.3 MB

International Monetary Fund assures Ghana of support to prevent debt restructuring with external creditors from dragging.

Interest Rates

February 04, 2024 18:15 - 10 minutes - 9.58 MB

Interest rates fell for the fifth consecutive week on the yield curve, according to results of treasury bills auction by the Bank of Ghana.

Tax Rates

February 01, 2024 18:15 - 10 minutes - 10 MB

Tax Partner at PwC Ghana, Abeku Gyan-Quansah has revealed that the current high tax levels in the country has resulted in some multinational companies relocating to friendlier business environment outside Ghana.

Treasury Bill Auction

January 28, 2024 18:15 - 11 minutes - 10.1 MB

The government recorded 121.4% oversubscription of Treasury bills to the tune of GH¢5.606 billion.

15% VAT Increment

January 26, 2024 06:15 - 9 minutes - 8.96 MB

The Vice Chairman of the Trade Union Congress, Ken Koduah, has urged the government to prove its financial capability to the International Monetary Fund (IMF) through other means beyond the imposition of VAT on electricity consumption.

Gross Domestic Product in 2024

January 24, 2024 18:15 - 10 minutes - 9.54 MB

The International Monetary Fund expects revenue to underperform the Ghana Government target by 0.1% of Gross Domestic Product in 2024, while expenditure overshoots the target by a similar margin.

Domestic Debt Exchange

January 22, 2024 18:15 - 9 minutes - 9.1 MB

Rating agency, Fitch, is predicting a favorable outlook for banks operating in Ghana in 2024. This follows the successful conclusion of the domestic debt exchange which most banks were negatively impacted.

UKGCC Survey

January 18, 2024 18:15 - 11 minutes - 10.8 MB

72% of firms perceive Ghana’s business environment as lagging behind peers – UKGCC 2023 Business & Competitiveness Survey

External Debt Restructuring

January 18, 2024 06:15 - 9 minutes - 8.74 MB

The Economist Intelligence Unit is advising the Government of Ghana to go into negotiations with private creditors or Eurobond holders with tact since the creditors will demand different and complex restructuring terms compared to bilateral creditors.

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