Bringing you updates from the world of business

The Bank of Ghana has increased the policy rate by 300 basis points to 22%, after an Emergency Monetary Policy Committee meeting today, August 17th, 2022.

The Economic and Organized Crime Office (EOCO) has indicated that it will go after tax defaulters in order to recover revenue for the state.

The Executive Secretary of the Public Utilities Regulatory Commission (PURC), Dr. Ishmael Ackah has announced that Electricity consumers will pay 27.15% more whilst water users have to make do with 21.55% increment. The new tariffs take effect from September 1, 2022 and will extend to 2025.

Bank of Ghana dismisses rumours that the central bank's digital currency or the e-cedi will be operated on a blockchain technology.

The Alliance of Civil Society Organisations (CSOs) working on Extractives, Anti-Corruption, and Good Governance has urged the Ministry of Energy to abandon plans to relocate the AMERI Plant from Aboadze in the Western Region to Kumasi in the Ashanti Region.

Year-on-year inflation crossed the 30% mark to hit 31.7% in the month of July 2022, data from the Ghana Statistical Service has revealed. This is the highest inflation rate recorded since late 2003.

Economist Dr. lord Mensah pushes for renegotiation Ghana's dollar bond with offshore investors to reduce current pressure on cedi.

The government has expressed disappointment by rating agency, S&P’s, decision to downgrade Ghana despite the bold policies implemented in the 2022 to address macro fiscal challenges and debt sustainability which have been significantly exacerbated by the impact of these global external shocks on the economy.

The Gas Tanker Drivers Union has called off its 5-day strike after meeting with the Ministry of Energy and the National Petroleum Authority (NPA). The group embarked on the strike to draw government’s attention to some challenges facing the operations of tanker drivers in the country.