Government 3 year bond falls short of target by 26% as liquidity tightens on the market.

The Bank of Ghana is warning the general public to be wary of a money-doubling scheme operating in Ghana under the pseudo name “Worldremit”, saying, the scheme is fraudulent and does not reward investors as promised. According to the Central Bank, this fraudulent scheme is distinct from the globally renowned Fintech, “WorldRemit” which is in the business of international fund transfers.

The month of September 2021 recorded the highest inflation rate of 10.6% since the economy started picking up from the effects of the Covid-19 pandemic. According to the Ghana Statistical Service, the increase in the price of Housing, Water, Electricity, Gas and other Fuels (18.7%) triggered the hike in inflation.

Bringing you updates from the world of business

Bringing you updates from the world of business

Ghana is jointly ranked 13th with Coted’lvoire, out of 19 countries in Fitch Solutions sub-Saharan Africa’s Auto Sales Risk/Reward Index. The country score of about 6% indicates that the vehicle sales market is very low. This is because majority of markets in sub-Saharan Africa are characterized by low incomes and high borrowing costs which impedes the development of new vehicle sales market.

The World Bank has charged African countries including Ghana, Zambia and Angola with high debt levels to urgently improve debt transparency, its 2021 Africa Pulse Report has revealed. It therefor wants the countries to publish more and better debt data as well as improve contingent liability reporting.

The Ghana National Petroleum Corporation (GNPC) has still not received payment for the $50 million loan advanced to the Ministry of Finance (MoF) in 2014 for the construction of the Western Corridor roads, in the Atuabo Gas Processing Plant enclave.

Ghana Stocks Exchange charges indigenous businesses to prioritize long term capital in stock market instead of borrowing from banks which come with high interest rate.

The Minister of Trade and Industry, Alan Kyerematen, has opened the 7th edition of Africa Engineering Week and the 5th Africa Engineering Conference in Accra on Tuesday, October 5, 2021, with a call on engineers in African to position themselves to leverage the opportunities that the implementation of the African Continental Free Trade Agreement (AfCFTA) present.