Business – Page 6

Finance Minister Dr Cassiel Ato Forson writes;

July 7, 2025

The IMF Executive Board has just approved Ghana’s 4th Review under the ECF Programme, clearing the path for a substantial $370 million disbursement! This landmark approval validates Ghana’s unwavering commitment to fiscal discipline and strategic economic transformation. Our comprehensive macroeconomic policies and carefully crafted structural reforms are delivering real results that the international community recognizes...

World Bank approves $360m for Ghana to aid economic recovery

June 30, 2025

A $360 million financial package for Ghana has been approved by the World Bank. Under the Second Resilient Recovery Development Policy Operation (DPO), the fund will aid the West African country in restoring its economy, which will in turn boost investor confidence. In reaction to the financial assistance, Minister for Finance, Dr Cassiel Ato Forson,...

“Bill Gates’ Proposed $20 Billion Support to Ghana is a Tribute to President Mahama’s Leadership of Integrity” — Spio-Garbrah

June 26, 2025

The decision reportedly announced by Bill Gates of Microsoft to support Ghana with a $20 billion contribution is a great credit to President John Mahama’s leadership, says Dr Spio-Garbrah, a former Ambassador to the USA. The Gates decision, coming closely on the heels of the USD 1 billion also mobilised by Hon Sam George from...

TOR Debt Rises To $517 Million — Acting MD

June 23, 2025

The current debt of the Tema Oil Refinery which has remained inactive for the past four years stands at $517 million, the acting Managing Director of TOR. Edmund Kombat has said. Mr Kombat said the debt, which the new management came to meet, was undergoing verification. He said the $517 million is the debt situation...

Next fuel price window to bring sharp increase – OMCs

June 19, 2025

The Chief Executive of the Chamber of Oil Marketing Companies (OMCs), Dr. Riverson Oppong, has issued a strong warning that fuel prices are expected to rise sharply in the next pricing window despite a slight drop at the pumps this week Dr. Oppong explained that this week’s marginal relief is temporary and driven mainly by...

IMF endorses GH¢1 Fuel Levy as crucial to Ghana’s fiscal recovery

June 13, 2025

The International Monetary Fund (IMF) has endorsed Ghana’s new Energy Sector Shortfall and Debt Repayment Levy, describing it as a strategic step toward achieving the country’s fiscal consolidation goals under the Extended Credit Facility (ECF) programme. The levy, which imposes a GH¢1 charge per litre of petroleum products, is intended to address persistent debt and...

Economy grows by 5.3% in Q1 2025, driven by agriculture and services

June 11, 2025

The economy has shown robust growth in the first quarter of 2025, with provisional real Gross Domestic Product (GDP) expanding by 5.3%, up from 4.9% in the same period last year, according to the latest Statistical Newsletter released by the Ghana Statistical Service. Announcing this to the media yesterday at the GSS head office in...

Ghana faces EU ban on fish importation if space not sanitised

June 9, 2025

Ghana risks a ban on fish exports to the European Union (EU) if the country does not take the necessary steps to sanitise its fishing space. Already, the country has received two yellow cards from the EU — one in 2013 and another in 2021 — and should the problem persist by 2026, Ghana will...

Oil Marketers Warn GH¢1 Fuel Levy Could Devastate Businesses

June 5, 2025

The Chamber of Oil Marketing Companies (COMAC) has expressed serious concerns regarding the government’s newly approved GH¢1 fuel levy. The Chamber warns that this levy could drive numerous downstream petroleum businesses towards insolvency and hinder the country’s clean energy objectives. In a press release dated 4th June 2025, COMAC voiced its apprehension over the recent...

Ghana Earns $1.1 Billion from Gold Sales Under Goldbod Initiative

June 3, 2025

Ghana has achieved a significant milestone in its efforts to strengthen the cedi and build reserves, earning over $1.1 billion in foreign exchange from the purchase and sale of more than 11 tonnes of gold. This accomplishment comes just one month after the Goldbod initiative commenced full operations. Key Highlights – *Boosting Foreign Exchange Reserves*:...