In Accra, the country’s capital, hundreds of protesters marched to the streets this week to demand the resignation of the Bank of Ghana‘s governor and his two top lieutenants due to the loss of around 60 billion Ghanaian cedis ($5.2 billion; £4.3 billion) in the fiscal year 2022. […]
Business
The Bank of Ghana’s interbank forex rates for today, September 25, 2023, show that the Ghana Cedi is trading versus the dollar at a purchasing price of 11.0703 and a selling price of 11.0813. Please keep in mind that these rates may differ at a forex bureau near you. Afriswap […]
Due to Ghana’s current economic issues, Ghanaians must ensure that their incomes keep pace with the rate of inflation. From an earlier 42.2% in May, inflation for the month of June increased somewhat to 42.5%. In June 2023, this translates to a 42.5% increase in product prices. This […]
For the first time since it was established in 1960, Australia’s central bank reports that a woman will serve as its president. Philip Lowe, who is nearing the conclusion of a seven-year term as governor of the Reserve Bank of Australia (RBA), will be replaced by Michele Bullock. Her […]
According to Samuel Atta-Akyea, the head of the Parliament’s Mines and Energy Committee, the government is trying to pay off any debt owed to Independent Power Producers (IPPs) on Saturday, July 1. He claims that steps are being taken to avoid and stop the disastrous effects of IPPs shutting down […]
Ghana agrees to the restructuring of $1.36 billion in locally issued US dollar bonds and cocoa bills with banks. In order to meet the IMF deadline and obtain more financial support, the nation is looking for fresh conditions for $11.18 billion in domestic debt. When debt is restructured, loans and […]
A memorandum of understanding between the UK and the EU regarding cooperation in financial services is about to be signed. It will create a forum where the EU and the UK may meet twice annually to talk about financial standards and regulation. The long-awaited move is seen as an […]
Grab, the top ride-hailing and food delivery service in Southeast Asia, announced that it is laying off 1,000 employees, or 11% of its workforce. According to the head of the business, the cost-cutting measures were necessary to maintain long-term affordability of services. The Singapore-based company provides banking services, trips, […]
After UK inflation stayed significantly higher than anticipated for the fourth consecutive month, interest rates are predicted to increase once more. The rate of inflation, which gauges how quickly prices are rising, stayed at 8.7% in May. The shocking number was driven by rising airfares and used car prices, […]
Amazon has been accused by the US of misleading people into signing up for Prime subscriptions that automatically renew and making it tough to cancel. The allegations were made in a complaint filed by the Federal Trade Commission (FTC), the nation’s consumer rights watchdog. Over 200 million people worldwide […]
BUA Group founder and billionaire Abdul Samad Rabiu, a Nigerian, has seen a stunning increase in his net worth, which has surpassed $8 billion thanks to a record $501 million rise in a single day. In the past 24 hours, Rabiu’s wealth has reached previously unheard-of heights, following in […]
Following the government’s statement on October 1, 2021, announcing a mandatory SIM re-registration drive, telecommunications companies in Ghana deleted roughly 9 million unregistered SIM cards. The National Communications Authority (NCA) and Ministry of Communications issued this directive, and those subscribers who disobeyed faced severe repercussions. Following this event, a woman […]
Ghana is anticipated to receive the first payment of $600 million from the $3 billion loan facility of the International Monetary Fund on Friday, May 19, 2023, barring any last-minute hiccups. On May 18, the IMF team and Ghana’s Finance Minister, Ken Ofori-Atta, held a press conference together. “There is […]
Just over six months after his contentious acquisition of the social media firm, Elon Musk announced Linda Yaccraino as the new CEO of the company in response to his intention to step down from the position. The billionaire said that the site’s business operations would be managed by Linda Yaccarino, […]
The Ghana cedi is expected to depreciate less by the end of the year, according to research and market intelligence company Fitch Solutions. The cedi has so far depreciated by about 14% to the US dollar in the retail market. The Ghana cedi could trade at around $12.40 to the […]
According to the most recent Bank of Ghana report, T-bills were approximately 30% oversubscribed as the government sought additional funding for its immediate obligations. Bank of Ghana The BoG reports that the treasury market has experienced rising interest rates for a fourth week in a row. The 182-day bill grew […]
Following the UK’s approval of Ford’s BlueCruise technology, drivers will be allowed to lawfully take their hands off the wheel while driving. The use of the “hands-off, eyes-on” technology on several roadways has been allowed by ministers. While a camera will keep a watch on the driver’s eyes to […]
British Chancellor Jeremy Hunt claims that the country’s economy is “back” and that the Washington meeting of the International Monetary Fund has praised his growth strategy. Following a barrage of criticism, his predecessor Kwasi Kwarteng departed the previous IMF meeting in October early. According to Mr. Hunt, the international lending […]
The future of Africa and the prosperity of the world rests with the continent’s rapidly expanding youth population. The 2023 YGL Aliko Dangote Fellows highlight the most potential African leaders trying to bring about significant change in their respective disciplines notwithstanding persistent challenges. The cooperation between the Forum of Young […]
The chairman of the US central bank has issued a warning that policymakers may hike interest rates more quickly and significantly than initially anticipated in an effort to stabilize the market. Following the comments, which came just a few weeks before the bank is scheduled to make another rate […]