Tuesday, September 1

Business

Government Pays GH¢10.8bn DDEP Coupon in Full and in Cash
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Government Pays GH¢10.8bn DDEP Coupon in Full and in Cash

The Government of Ghana has paid GH¢10.82 billion to bondholders under the Domestic Debt Exchange Programme (DDEP), marking the third coupon payment made fully in cash. The Ministry of Finance said GH¢10,816,840,318.26 was paid to bondholders in full and on schedule, bringing the total amount paid to DDEP bondholders since 2025 to GH¢41.36 billion. According to the government, the latest payment underscores its commitment to meeting its debt obligations and maintaining discipline in the management of the country’s public finances. The payment is also expected to boost investor confidence and strengthen Ghana’s standing in domestic and international financial markets following the country’s recent debt restructuring. Government said the timely settlement of the coupon would help...
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IMF approves final review of Ghana’s US$3bn bailout programme
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IMF approves final review of Ghana’s US$3bn bailout programme

The Executive Board of the International Monetary Fund (IMF) has approved the final review of Ghana’s US$3 billion Extended Credit Facility (ECF) programme, marking the successful completion of the country’s three-year economic recovery programme. The approval also unlocks a final disbursement of approximately US$371 million to the Bank of Ghana, bringing total disbursements under the programme to the full US$3 billion. A statement issued by the Government on Monday said the successful completion of the programme reflected the significant progress Ghana had made in restoring macroeconomic stability following the economic crisis of 2022, which necessitated the IMF-supported bailout programme launched in May 2023. It said the Government had maintained fiscal discipline, reduced infl...
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GCB Bank and PAPSS deepen partnership to accelerate Africa’s cross-border payments revolution
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GCB Bank and PAPSS deepen partnership to accelerate Africa’s cross-border payments revolution

PAPSS hails GCB Bank's leadership in transforming cross-border payments across Africa GCB Bank's leadership in advancing seamless cross-border payments across Africa has earned high praise from the Pan-African Payment and Settlement System (PAPSS), with the Bank being recognised as one of the platform's most strategic partners on the continent. The recognition came during a courtesy call by a PAPSS delegation to GCB Bank's Head Office in Accra, where both institutions reaffirmed their commitment to deepening financial integration and accelerating intra-African trade. The PAPSS delegation, led by Chief Executive Officer Mike Ogbalu III and accompanied by Chief Information Officer and Head of Operations Ositadinma Ugwu, commended GCB Bank for its support since the platform's incepti...
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BoG warns public against rejecting coins
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BoG warns public against rejecting coins

The Bank of Ghana (BoG) has warned traders, transport operators and other businesses that refusing to accept Ghana cedi coins is against the law and could lead to arrest, prosecution, fines or imprisonment. The warning was contained in a public notice issued by the central bank, following reports of the widespread refusal of people to accept 1 pesewa, 5 pesewa, 10 pesewa, 20 pesewa and 50 pesewa coins, as well as the GH¢1 and GH¢2 coins, for payments. According to the BoG, all coins it has issued remain legal tender and have not been withdrawn from circulation. It said no individual or business has the right to reject the coins because of their low value, inconvenience or personal preference. The notice follows an earlier directive issued on July 14, 2026, which warned against ...
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Policy Rate At 14%: Middle East Crisis Is The Elephant In The Room – BoG Boss
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Policy Rate At 14%: Middle East Crisis Is The Elephant In The Room – BoG Boss

The Governor of the Bank of Ghana, Johnson Pandit Asiamah, has defended the decision by the Monetary Policy Committee (MPC) to maintain the policy rate at 14 percent, insisting that lingering geopolitical tensions in the Middle East continue to pose serious risks to Ghana’s inflation outlook and economic stability. Responding to questions from journalists during the 130th MPC press briefing in Accra yesterday, Dr. Asiamah described the ongoing Middle East conflict as the “elephant in the room” influencing the central bank’s cautious policy stance. According to him, although current economic indicators suggest there is room for further monetary easing, the MPC decided to pause and monitor developments because of uncertainties surrounding the global crisis. “The committee evaluated ...
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Finance Minister, Deputy Publicly File Tax Returns, Urge National Compliance
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Finance Minister, Deputy Publicly File Tax Returns, Urge National Compliance

Ghana’s Finance Minister, Cassiel Ato Forson, and his Deputy, Thomas Nyarko Ampem, have publicly filed their annual tax returns, setting what they describe as a standard of leadership through action. According to the Minister, the decision to file publicly underscores the principle that leadership must be demonstrated rather than merely proclaimed. The move forms part of efforts to promote transparency and encourage voluntary tax compliance across the country. Dr. Forson commended Ghanaian taxpayers for their consistent contribution to national development, noting that tax compliance remains essential for sustaining government operations and driving progress. He emphasized that paying taxes is not only a legal obligation but also a shared civic and moral responsibility. “Publi...
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UBA Appoints Juliana Asare as Chief Finance Officer
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UBA Appoints Juliana Asare as Chief Finance Officer

Juliana Asare is a distinguished finance executive and transformational leader, currently serving as the Chief Finance Officer of UBA Ghana, where she makes history as the first woman to hold this role. With over two decades of progressive banking experience across Ghana and Sierra Leone, she brings a unique blend of strategic insight, technical expertise, and pan-African leadership to the Bank.Juliana is a Fellow of the Association of Chartered Certified Accountants (ACCA) and a member of both the Institute of Chartered Accountants, Ghana and Sierra Leone, as well as a certified Treasury Operations professional (ACI). She holds a First-Class Honours degree in Psychology from the University of Ghana and an MBA in Finance from GIMPA, complemented by certification in Green and Sustainable...
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Ghana Warns Underperforming SOEs: Improve or Face Dissolution
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Ghana Warns Underperforming SOEs: Improve or Face Dissolution

Ghana’s Ministry of Finance has issued a strong warning to State-Owned Enterprises (SOEs), signaling tough measures against persistent underperformance as part of the government’s economic reset agenda. Speaking on behalf of the Finance Minister, Dr. Cassiel Ato Forson, the Deputy Minister, Thomas Nyarko Ampem, stressed that loss-making SOEs will no longer be tolerated. Addressing stakeholders at a high-level meeting themed “Leveraging Public Assets for Shared Prosperity,” Mr. Ampem said the government has created a stable economic environment, leaving underperforming entities with “no excuses” for inefficiency. He reiterated the position of John Dramani Mahama, noting that SOEs failing to deliver value will face restructuring, mergers, privatization, or outright closure. The meas...
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Ministry of Finance Launches PFM Compliance League Table to Boost Accountability
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Ministry of Finance Launches PFM Compliance League Table to Boost Accountability

The Ministry of Finance has introduced a Public Financial Management (PFM) Compliance League Table as part of efforts to strengthen transparency, fiscal discipline, and accountability in the management of public resources. The initiative, described as a landmark step, fulfills the government’s commitment outlined in the 2025 Budget Statement to publish an objective and evidence-based assessment of how public institutions comply with the Public Financial Management Act, 2016 (Act 921), its regulations, and related laws. According to the Ministry, the League Table serves as a performance benchmarking tool that measures how well public institutions adhere to established rules and procedures governing the use of public funds. By ranking institutions based on their compliance levels, t...
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World Bank MD Praises Ghana’s Finance Minister on Economic Progress During First Africa Visit
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World Bank MD Praises Ghana’s Finance Minister on Economic Progress During First Africa Visit

The Managing Director and Chief Knowledge Officer of the World Bank, Paschal Donohoe, has commended Cassiel Ato Forson for what he described as significant improvements in Ghana’so national finances. The praise came during a high-level meeting between the two officials, held as part of Mr. Donohoe’s first official visit to Africa. The discussions focused on Ghana’s ongoing economic transformation and the next phase of its development agenda. Dr. Forson explained that over the past year, the government has concentrated on resetting the economy and steering it toward a more sustainable path. He noted that while considerable strides have been made in stabilising the economy, unemployment—especially among the youth—remains a major concern. According to the Finance Minister, Ghana’s gr...
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