The National Petroleum Authority (NPA) has warned that fuel stations operating without the legally required license risks immediate closure and possible decommissioning. In a statement, the NPA underscored its legal mandate under the National Petroleum Authority Act, 2005 (Act 691), as amended, to regulate all commercial activities involving the storage, distribution and sale of petroleum…
The Bank of Ghana (BoG) says it has come to its attention that some Banks, Dedicated Electronic Money Issuers (DEMIs), Enhanced Payment Service Providers (EPSPs) and Money Transfer Operators (MTOs) continue to violate the Foreign Exchange Act, 2006 and the updated guidelines for inward remittance services by payment service providers, despite several cautions and reminders….
A political science lecturer at the University of Ghana, Dr Joshua Jebuntie Zaato has said that one thing the managers of the economy have not handled properly is the middlemen in the exchange rate popularly referred to as “Abochi. He says that whereas some banks do not have dollars for customs, the abochi has the…
President of IMANI Africa, Franklin Cudjoe, has thrown his support behind Finance Minister Dr. Cassiel Ato Forson’s strong criticism of the New Patriotic Party (NPP)’s economic management during its time in office, labelling it fiscally reckless and unsustainable. Dr. Forson, speaking in a recent interview following his presentation of the 2025 Mid-Year Budget Review, accused…
The Member of Parliament for Manso Nkwanta, Tweneboah Fokuo, has questioned the structural soundness of the recent appreciation of the Ghanaian cedi, arguing that the current Mahama administration cannot take credit for any significant forex buffer growth. Speaking on The Big Issue on Citi FM on Saturday, July 26, the MP contended that the gold reserves inherited…
The acting Commissioner of Insurance, Dr Abiba Zakariah, has urged the insurance industry to move towards a new era that makes insurance more accessible, affordable and relevant, especially for the informal sector. This phase of innovation and inclusivity, she said, should bridge the gap between Ghana’s formal insurance sector and its largely uninsured population. “We…
Finance Minister, Cassiel Ato Forson, has announced a ban on the use of foreign currencies in all government contracts, warning the practice threatens the stability of the national currency. Presenting the 2025 Mid-Year Budget Review on Thursday, July 24, 2025, Ato Forson said that, starting immediately, no government contract—regardless of its funding source—will be awarded…
Finance Minister, Dr. Cassiel Ato-Forson, has hinted that the National Investment Bank (NIB) will be listed on the Ghana Stock Exchange in the future. This means part of the bank will be sold to Ghanaians, but via the capital market. Presenting the Mid-Year Review Budget, Dr. Forson said the government has taken steps to inject…
The Ghana Union of Traders Association (GUTA) has assured that its members will move quickly to reduce prices of goods if government is able to deal with high shipping charges and fees at the ports. The current high shipping charges and fees, according to the traders, has been a major influence in determining prices of…
The Ministry of Energy has cancelled 202 supply contracts valued at over US$227 million due to non-performance, as part of efforts to address procurement irregularities and improve the reliability of Ghana’s electricity distribution system. The disclosure was made by the Minister for Energy and Green Transition, Mr John Jinapor, at a Government Accountability Series press…
