Saturday, June 13

Business

Payment systems interoperability promotes efficiency, improved access to financial services-BOG  
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Business

Payment systems interoperability promotes efficiency, improved access to financial services-BOG  

Dr Zakari Mumuni, First Deputy Governor, Bank of Ghana, says empirical research and lived experience have proven that payment systems interoperability promotes efficiency, convenience and improved access to financial services.   He said, however, alongside these gains were a set of concerns that called for collective attention.   Dr Mumuni was speaking at the stakeholder workshop on the draft National Payment Systems Strategy (2025–2029).   He said the emergence of dominant digital platforms raised important questions about market competition, inclusiveness, financial stability, and resilience of payment systems.   The First Deputy Governor said over the past five years, under the National Payment Systems Strategy (2019–2024), Ghana had made remarkable progress i...
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Ghana Chamber of Young Entrepreneurs opens YES 2025 in Tamale 
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Ghana Chamber of Young Entrepreneurs opens YES 2025 in Tamale 

The Ghana Chamber of Young Entrepreneurs (GCYE) has opened the fifth edition of the National Young Entrepreneurs Summit, Expo and Awards (YES2025) in Tamale.  It is to promote stronger policy coordination and institutional reforms in support of youth-led enterprises in the country.  The event, held on the theme: “Resetting Ghana: The Role of Youth Entrepreneurship in National Renewal”, brought together young entrepreneurs, policymakers, development partners, traditional leaders, and private sector actors to deliberate on practical measures to enhance youth innovation and job creation.  YES2025 features exhibitions, masterclasses, and networking sessions and would be climaxed with an awards ceremony to honour outstanding young entrepreneurs making an impact across various...
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TDC moves to collect revenue from defaulting companies
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TDC moves to collect revenue from defaulting companies

The TDC Ghana Limited, led by its Managing Director, Mr Courage Nunekpeku, and management staff, is embarking on a massive revenue collection drive from companies and other establishments that have defaulted for years in paying off their ground rent. The establishments, which included churches, schools, companies, hotels, and industries, owe varied amounts of money, with some being in debt for about 10 years. Some of the establishments visited were Naky’s Hotel, Amaris Terminal, the Tema Mall, and the Datus School, among others. The exercise saw the locking up of companies, which forced management of the affected institutions to either issue part payment or full payment to show their commitment to clearing their debt to the TDC. Mr. Courage Nunekpeku, the Managing Director of T...
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Government announces GHS75.70 billion treasury issuance for Q4 2025 
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Government announces GHS75.70 billion treasury issuance for Q4 2025 

The Government, through the Bank of Ghana (BoG), has announced plans to issue GHS75.70 billion in treasury securities from October to December 2025.  The issuance forms part of a broader strategy to revitalise the domestic capital market and enhance predictability and transparency in public financing.  According to the BoG, the financing plan for the quarter includes Treasury Bills and Bonds, in line with the Public Debt Management Office’s objective of lengthening the maturity profile of public debt.  The issuance calendar, prepared based on projected domestic maturities and the revised Net Domestic Financing (NDF) outlined in the 2025 Mid-Year Fiscal Policy Review, is intended to guide market participants in their investment decisions.  Of the total gross issua...
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BoG revises forex bureau licence renewal fee to GHS2,000 
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BoG revises forex bureau licence renewal fee to GHS2,000 

The Bank of Ghana (BoG) has revised the biennial licence renewal fee for all licensed Foreign Exchange Bureaux (FEBs) from GHS500 to GHS2,000.  The central bank announced the adjustment in a public notice dated October 24, 2025, stating that the revision formed part of ongoing regulatory reforms to strengthen oversight and ensure operational sustainability within the sector.  According to the BoG, the revised fee takes immediate effect and applies to all licensed FEBs.  The Bank reminded all FEBs that licence renewals are required every two years and must be submitted at least two months before the current licence expires.  The directive is in accordance with Section 10 of the Foreign Exchange Act, 2006 (Act 723) and Paragraph 8 of the Revised Forex Bureau Regula...
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GIABA to hold national sensitisation seminar for religious leaders on AML/CFT 
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GIABA to hold national sensitisation seminar for religious leaders on AML/CFT 

The Inter-Governmental Action Group against Money Laundering in West Africa (GIABA), is scheduled to hold a two-day national sensitisation seminar for religious leaders and institutions on Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) measures in Accra.  The objective of the seminar to be organised between October 21st and 22nd  2025, is to raise the awareness level of religious leaders on the role of AML/CFT framework, especially GIABA’s mandate.  It will also agree on actionable points to promote peaceful co-existence in particular, and in general AML/CFT efforts.  In a press release signed by Mr Timothy Melaye, the Acting Principal Officer, (Communication and Advo...
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IFS propose establishment of Rice Development Board  
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IFS propose establishment of Rice Development Board  

The Institute of Fiscal Studies (IFS) has proposed the creation of a Rice Development Board to facilitate targeted government support for the rice production sector.  The Board would oversee interventions such as irrigation infrastructure, mechanisation, and provision of certified seeds and fertilisers to farmers.  According to the think-tank, government must move beyond enabling policies and take a more active role in resolving challenges facing Ghana’s rice industry.  The recommendation was contained in IFS’s latest study titled “Increasing Importation of Rice in Ghana: Can the Country Transform its Fortunes in the Rice Sector?”  Presenting the study, Dr Said Boakye, Acting Executive Director of IFS, said the government could no longer depend on the p...
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Government Increases Cocoa Producer Price to GHS3,625 Per Bag for 2025/26 Season
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Government Increases Cocoa Producer Price to GHS3,625 Per Bag for 2025/26 Season

The Government of Ghana has announced an upward adjustment in the producer price of cocoa for the 2025/2026 crop season, offering relief to farmers across the country. Following consultations with stakeholders, the Producer Price Review Committee (PPRC), chaired by the Minister for Finance, Dr. Cassiel Ato Forson, has increased the price from the previously announced GHS3,228.75 per bag to GHS3,625 per bag, equivalent to GHS58,000 per tonne. This new price represents an increment of about GHS400 per bag, translating into a 12.27 percent rise compared to the earlier figure announced on August 4, 2025. The new producer price will take effect from Friday, October 3, 2025. Dr. Forson assured that while margins, fees, and rates to other stakeholders remain unchanged, government remains...
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Bank of Ghana Advances Virtual Asset Regulatory Framework with Draft VASP Bill
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Bank of Ghana Advances Virtual Asset Regulatory Framework with Draft VASP Bill

The Bank of Ghana (BoG) has announced significant progress in establishing a comprehensive regulatory framework for virtual asset activities in the country. In collaboration with the Securities and Exchange Commission (SEC) and the Financial Intelligence Centre (FIC), the Bank has completed the drafting of the Virtual Asset Service Providers (VASP) Bill, which is currently advancing through processes leading to consideration by Parliament. According to the Bank, the draft bill has undergone extensive review by industry stakeholders, state institutions, and international development partners to ensure it is robust, market-relevant, and fit for purpose. As part of the preparatory measures, the BoG in July 2025 conducted a mandatory registration exercise for all virtual asset service...
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International Workplace Group Adds New Regus Workspace In Ghana, As Demand For Flexible and Platform Working Continues To Accelerate
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International Workplace Group Adds New Regus Workspace In Ghana, As Demand For Flexible and Platform Working Continues To Accelerate

Regus OMA Building in Accra now boasts an impressive IWG workspace complete with co-working spaces, private offices, meeting rooms and creative areas The signing coincides with the rising demand for platform working, as companies of all sizes increasingly provide employees with access to a network of locations to maintain productivity and employee satisfaction This opening follows a partnership agreement with the building owner, who has invested in the International Workplace Group platform to create a branded flexible workspace in their building The location comes on the heels of International Workplace Group signing 899 new locations globally in the first half of 2025, signing 496 centres & and achieving the highest ever revenue International Workplace Group, the world's ...
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