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BUSINESS SPECIAL

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 …

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NAM 1 Threatens to Retrieve His GH₵2.5 Million from Police

  Nana Appiah Mensah, also known as NAM 1, the embattled Chief Executive Officer (CEO) of the now-defunct Menzgold Ghana Limited, has asserted his intention to reclaim his GH₵2.5 million from the Ghana Police Service. He insists that the police were not authorized to deposit the funds with the Bank …

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Ghana Police Confirm GH¢2.5 Million Deposit from Nana Appiah Mensah (NAM 1) at Bank of Ghana

In an official announcement, the Ghana Police Service has confirmed the receipt of GH¢2.5 million from Nana Appiah Mensah, the former CEO of Menzgold, and the subsequent deposit of this sum into the Bank of Ghana. According to a statement shared on X (formerly Twitter), the Police Service clarified that …

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Fish Prices Surge as Akosombo Dam Spillage Impacts Volta River Fisheries

A recent visit to the Adabraka Fish Market in Accra by GBC News has brought to light an alarming surge in the prices of fish sourced from the Volta River. This price hike is attributed to the escalation of water levels and the spillage of excess water from the Akosombo …

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IMF Forecasts Improved Economic Growth for Ghana in 2024 Despite Economic Struggles

The latest data released by the International Monetary Fund (IMF) during the IMF/World Bank meetings in Morocco on October 10, 2023, paints a more positive picture for Ghana’s economic growth in 2024, despite the challenges it has faced in recent times.   According to the IMF’s projections, Ghana is expected …

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Chinese Gold Miner Cardinal Namdini Mining Limited Plans to Construct Airport in Ghana’s Upper East Region

Chinese mining company, Cardinal Namdini Mining Limited, a subsidiary of Shandong Gold, has announced plans to construct an airport in northern Ghana’s Upper East Region. The airport will serve the region and support the company’s gold mining operations. Initially, Cardinal Namdini had proposed building an airstrip exclusively for its own …

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World Bank Urges Urgent Action in Africa to Avoid a Lost Decade of Growth

  In a recent report, the World Bank has sounded the alarm for Sub-Saharan Africa, highlighting the pressing need for stability, economic growth, and job creation to prevent what could become a ‘lost decade’ for the continent. The report, titled “Africa’s Pulse,” paints a somber picture of the region’s economic …

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Lemonade Finance presents John Dumelo in “For Mama”

Lemonade Finance presents John Dumelo in “For Mama”

Lemonade Finance is a cross-border payment solution that enables Africans in the Diaspora to send money to Ghana and other African countries. The App is available on the iOS and Google Play Store.   On October 14th, 2022, Lemonade Finance announced John Dumelo, a veteran actor and entrepreneur alongside Deloris …

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Lemonade Finance presents Delay in “Wo si woyε musician?”

Lemonade Finance presents Delay in “Wo si woyε musician?”

Lemonade Finance is a cross-border payment solution that enables Africans in the Diaspora to send money to Ghana and other African countries. The App is available on the iOS and Google Play Store.   On October 14th, 2022, Lemonade Finance announced seasoned media personality and serial entrepreneur Deloris Frimpong Manso …

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Cedi Records 18.21% Depreciation To Dollar In Quarter 1; Ranked Among “Worst Spot Returns – Bloomberg

Cedi and Dollar

The cedi recorded an 18.21% rate of depreciation to the US dollar in the first quarter of 2022, according to Bloomberg. This still ranked the local currency as the worst among African currencies with the “Worst Spot Returns”. However, for the timely intervention by the Bank of Ghana, the situation …

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