The total number of collateral registrations recorded for Q3 2024 was 95,340, as revealed by the Bank of Ghana in its Quarterly Collateral Registry Brief. This compares to 56,314 registrations in the same quarter of 2023, reflecting a 69.3% year-on-year growth. A breakdown of registrations across the various categories of lenders showed that Savings and…
Former Auditor-General, Daniel Yao Domelovo has called on the Auditor General to investigate and surcharge individuals if breaches are found in the use of funds allocated for the National Cathedral project. Speaking on Joy FM’s Newsnight on Monday, November 25, Mr Domelovo supported a recommendation by the Commission on Human Rights and Administrative Justice (CHRAJ) for…
A Professor at the University of Ghana Business School, Godfred Bokpin says Ghana is experiencing an expensive economic recovery. He explains that although the inflation rate has dropped, it does not mean that prices are reducing. Rather, he said, it means the rate at which prices are increasing has slowed. Prof Bokpin further notes that…
The CEO of the Association of Oil Marketing Companies (AOMCs), Dr Riverson Oppong, has expressed deep concern over the rampant corruption in Ghana’s oil marketing industry. The oil marketing sector in Ghana is under a siege of its own making, according to him. Speaking on Joy News’ PM Express Business Edition, last Thursday, he lamented the…
Ghana is ranked 7th in the world as the biggest beneficiary of World Bank funding. The country has received a total of US$11.2 billion of the International Development Association (IDA) funding from 1961 to 2024. Ethiopia (US$23.4 billion), Nigeria (US$18.8 billion) and Vietnam (US$18.5 billion) are ranked 1st, 2nd 3rd respectively. China is ranked 8th…
Indian billionaire Gautam Adani has been indicted by U.S. prosecutors for his alleged role in a $265 million scheme to bribe Indian officials, plunging his conglomerate deep into crisis for the second time in two years. Multiple counts of fraud – which U.S. authorities say involved a firm that was listed in New York and…
The Bank of Ghana (BoG) has reached a significant milestone with the inauguration of its cutting-edge headquarters, The Bank Square, marking a new era in its operations. President Nana Addo Dankwa Akufo-Addo officially opened the facility on Wednesday, November 20, 2024, in Accra. The ceremony was attended by key government officials, BoG leadership, and notable…
Fuel costs will start to drop tomorrow, November 16, 2024, barring any unforeseen occurrences. The Chamber of Petroleum Consumers (COPEC) predicts that diesel prices will decrease by 3.88% and petrol prices by roughly 5.06%. It is also anticipated that the price of Liquefied Petroleum Gas (LPG) will drop by roughly 1.14%. COPEC justified this prediction…
Ransford Kwaku Otopa Atiemo, the 2024 Best Farmer second runner-up won a brand-new Massey Ferguson tractor, complete with accessories donated by Stanbic Bank Ghana. The symbolic key to the vehicle was handed over at the 40th National Best Farmer Awards dinner held last Friday at Alisa Hotel in Accra. Mr. Atiemo encouraged aspiring farmers to…
The Bank of Ghana (BoG) is set to inaugurate its new $250 million headquarters, known as “The Bank Square,” on November 20 in Accra. President Nana Addo Dankwa Akufo-Addo will serve as the guest of honour at the invitation-only event, which will commence at 10 a.m. The construction of this high-cost facility has been a…
