Two-thirds of households surveyed by the Ghana Statistical Service Household and Job Tracker Survey during the 3rd COVID-19 Wave revealed that their income has not recovered to pre-pandemic 19 levels. Also, only 26.7% of respondents indicated that their total household income stayed the same as compared to the period before COVID-19 (March 16, 2020).

The current economic situation will sooner than later compel the government to return to the International Monetary Fund for bailout fund or programme, Economist and Associate Professor at Niagara University in Canada, Dr. Dennis Nsafoah has revealed.

The CEO and Co-Founder of C-Energy Global Holdings and Investment Analyst, Mike Cobblah has advised government to desist from embarking on a universal roadshow as a means of raising funds especially following Fitch’s downgrade of the economy. According to him, such a move will prove futile and might hasten the country’s economic collapse.

The central bank has directed all financial institutions to only accept Ghana Cards for all transactions. The Bank of Ghana (BoG) explained that this order takes effect from July 1, 2022.

From 1st July, 2022, the Ghana Card will be the only identification for banking or financial transactions, the Bank has disclosed. This is in furtherance of its objective of ensuring the safety of the financial system.

The World Bank is committing some $40 million into the Venture Capital Trust Fund through the National Development Bank for its operations and on-lending to the private sector. The money which is expected before the end of the month will boost the capital capacity of the Fund to enable it strengthen its core mandate of providing support for small and medium enterprises.

Despite the challenges with the fiscal economy, ratings agency, Fitch, is projecting a 5.5% expansion of the Ghanaian economy this year. It is attributing that to recovering in the industrial sector, including oil, in line with global growth recovery.

Bringing you updates from the world of business

Bringing you updates from the world of business

The Registrar-General’s Department (RGD) has delisted 2,788 companies from its companies register for failing to file their annual returns with the Department. In a statement, “it said these defaulted companies failed to comply with the directive issued by the Department to file their annual returns or risk being delisted from the companies register.”