Inflation in Ghana is expected to decline from an average of 22.9% in 2024 to 18.8% in 2025, according to a new forecast by Fitch Solutions. The UK-based research firm attributes this moderation to falling global oil prices, which are likely to give the National Petroleum Authority room to limit increases in, or even reduce,…
Ghana recorded a significant surge in exports in April 2025, reaching $9.33 billion, according to the Bank of Ghana’s May Economic Summary Report. The boost was largely fueled by strong performances in gold and cocoa exports. This export growth propelled the country’s trade surplus to $4.14 billion, representing 4.7% of Gross Domestic Product (GDP). Crude…
The Bank of Ghana (BoG) has announced plans to engage commercial banks that have reinstated transfer fees following the removal of the Electronic Transfer Levy (E-Levy). This comes amid growing customer complaints over unexpected charges on transfers between personal bank accounts and mobile money wallets. These fees reportedly reappeared almost immediately after the E-Levy was…
Banks to Hold Reserves in Original Deposit Currencies Starting June Effective June 5, 2025, commercial banks operating in Ghana will be required to maintain cash reserves in the same currency as the deposits they receive. This marks a significant shift in the Bank of Ghana’s (BoG) policy framework, as it revises the Dynamic Cash Reserve…
Tullow Ghana and its partners have officially restarted drilling operations in the Jubilee Field, ushering in a new phase of investment in Ghana’s vital energy sector. The two-year drilling programme, which kicks off in May 2025, aims to enhance oil production and operational efficiency in one of West Africa’s most prominent oil fields. This new…
The Ministry of Finance has officially approved the implementation of revised allowances for members of three senior staff unions within Ghana’s public tertiary institutions. This decision follows the successful completion of negotiations between the government and the unions. In a statement dated May 21, 2025, Finance Minister Dr. Cassiel Ato Forson announced that the revised…
First National Bank has appointed Adwoa Boateng-Addo as its new Chief People Officer, effective immediately. She succeeds Ernestina Danquah, who retired on April 30, 2025, after nearly a decade of dedicated service as Head of Human Resources. Adwoa brings a wealth of experience to the role, having previously served as the bank’s Senior Human Resource…
The Accra Metropolitan Assembly (AMA) has commenced a large-scale decongestion operation targeting street trading activities within Accra’s Central Business District (CBD), as part of efforts to restore order and improve sanitation in the city centre. In the early hours of Tuesday, May 20, 2025, AMA task forces, in collaboration with personnel from the Ghana Police…
Coinbase, one of the world’s largest cryptocurrency platforms, has revealed it could face losses of up to $400 million (£301 million) following a recent cyber attack. According to a company blog post, the attackers gained access to less than 1% of customer data by targeting Coinbase contractors and employees with illicit payments. The hackers then…
Ghana has exceeded the reserve target outlined in its programme with the International Monetary Fund (IMF), marking a significant milestone in the country’s economic recovery efforts, according to the First Deputy Governor of the Bank of Ghana (BoG), Dr. Zakari Mumuni. Speaking in an interview with Joy News on Thursday, Dr. Mumuni highlighted that the…
