Home / Business Articles

Business Articles

Business Articles category on the GhArticles website will focus on bringing readers entrepreneurial content and news in the world of business but locally and internatinally.

Bank of Ghana Suspends Forex Trading Licences of GT Bank and FBN Bank

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 …

Read More »

Bank of Ghana Raises Transaction Limits for Mobile Money Wallets Effective March 1

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 …

Read More »

Cold Store Operators in Kasoa Protest Against Proposed 15% VAT on Electricity

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, …

Read More »

Telecom Chamber CEO Affirms: No Charges for Depositing Money into MoMo Accounts

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 …

Read More »

IMF Board Approves $600 Million Disbursement for Ghana in Loan Program

The International Monetary Fund (IMF) has granted approval for the initial assessment of Ghana’s loan program, paving the way for an immediate payout of approximately $600 million from its $3 billion bailout initiative, as announced on Friday. This decision follows Ghana’s successful negotiation of a $5.4 billion debt restructuring deal …

Read More »

Ghana to Resume Talks with Bondholders Following Debt Restructuring Success – Ken Ofori Atta

Finance Minister Ken Ofori-Atta has announced that Ghana will re-engage with its international bondholders starting next week, building on the positive outcome of the recent restructuring of $5.4 billion in official creditor debt. Ofori-Atta revealed plans to continue discussions after meeting with holders of the country’s outstanding Eurobonds totaling around …

Read More »

Traders at Abossey Okai Express Confidence in 2024 Amid Import Tax Concerns and Currency Volatility

In the early days of 2024, optimism abounds among traders at Abossey Okai, one of Ghana’s major spare parts hubs. Despite acknowledging the economic challenges facing the country, these traders remain enthusiastic about the potential for improved business in the coming year. The atmosphere at the Abossey Okai Car Spare …

Read More »

Aliko Dangote Reclaims Top Spot as Africa’s Wealthiest Person According to Forbes

Nigerian tycoon Aliko Dangote has regained his title as the richest person in Africa, surpassing South African magnate Johann Rupert, according to the latest updates from Forbes Real-Time Billionaires ranking. Dangote’s net worth soared from $9.5 billion on January 3 to $10.4 billion, nudging him back to the top spot. …

Read More »

Ghana’s Cedi Declines by 25.8% Against the Dollar, Prompts Economic Concerns – BoG Reports

According to the Bank of Ghana’s latest report in November 2023, Ghana’s currency, the cedi, has experienced a significant depreciation of 25.8% against the US dollar. The report highlighted a period of relative stability for the cedi between March and September 2023, trading between GHS 11.01 and GHS 11.13 against …

Read More »

Common Money Mistakes Young Adults Should Avoid

As a young adult, navigating the intricate landscape of personal finance can seem daunting. However, understanding fundamental financial concepts and adopting prudent money habits can lay a robust foundation for long-term security and success. Embrace Financial Literacy Start by familiarizing yourself with basic financial principles. Knowledge about debt management, investing, …

Read More »