Business Articles

Bitcoin’s value surged to a record-breaking $80,000 on November 11, 2024, following Donald Trump’s decisive election win and the Republican Party’s strengthened hold on Congress. This milestone reflects a more than 80% increase in Bitcoin’s value this year. Trump, who promoted the idea of making the US the “crypto capital …

Ghana is set to launch the highly anticipated Ghana Gold Coin (GGC), providing residents with a new investment opportunity. Dr. Steve Opata, an advisor at the Bank of Ghana, announced during an interview on Metro TV’s Bottomline program on September 30, 2024, that individuals interested in purchasing the coin will …

The Bank of Ghana (BoG) has officially launched the Ghana Gold Coin, providing a new investment option for Ghanaians under its gold purchase programme. The coins, which will be available for purchase in two weeks, aim to offer a stable alternative for investors. Speaking at the Monetary Policy Committee (MPC) …

The state-owned Cocoa Processing Company Limited (CPC) has recorded a loss of $9,568,898 in the first half of 2024, an increase from $9,155,700 during the same period in 2023, marking a 4.5% rise in losses. This increase is mainly due to higher operational costs, including selling, distribution, and financial expenses. …

Some oil marketing companies (OMCs) in Ghana have started increasing fuel prices following the commencement of July’s second pricing window. For example, Shell, a leading oil marketing company, has raised the price of a litre of petrol from GH¢14.80 to GH¢15.10. Similarly, the price of a litre of diesel has …

French banking giant Societe Generale is reportedly planning to exit its operations in the Ghanaian market, as per various media reports. The bank first entered Ghana back in 2003 through the acquisition of a 51 percent stake in what was then known as Social Security Bank. According to the accratimes.com, …

The Bank of Ghana (BoG) has suspended the foreign exchange trading licences of Guaranty Trust Bank Ghana Limited (GTB) and FBNBank Ghana Limited (FBN) for a period of one month, effective 18th March 2024. The suspension is in accordance with Section 11 (2) of the Foreign Exchange Act 2006, (Act …

Starting March 1, 2024, the Bank of Ghana (BoG) has opted to revise the balance and transaction limits for customers’ mobile money wallets in response to the increasing trend of transactional activities and evolving customer requirements. The adjustment, as disclosed by the Ghana Chamber of Telecommunications, aims to accommodate the …

Cold store operators in Kasoa, located in the Awutu-Senya-East Municipality of the Central Region, have raised their voices against the government’s plan to impose a 15% Value Added Tax (VAT) on electricity consumption. In an interview with the Ghana News Agency (GNA), operators expressed strong dissatisfaction with the proposed tax, …

In a recent statement, Dr. Kenneth Ashigbey, the Chief Executive Officer of the Chamber of Telecommunications, has firmly declared that there are no fees associated with depositing money into Mobile Money (MoMo) accounts. This comes in response to reported cases of some MoMo agents allegedly imposing deposit fees. Speaking on …