Ghana’s oil revenue has increased to US$840m in the first half of 2024. This amount represents a 36% increase compared to the US$540 million recorded during the same period in 2023. The total petroleum revenue receipts consist of proceeds from oil liftings, corporate tax, surface rental, as well as interest on the Petroleum Fund account. […]
Speaker of Parliament, Alban Bagbin is advocating for a law to cap the number of Justices to the Supreme Court. Ghana’s constitution provides for nine judges to the Supreme Court but does not prescribe an upper limit. The Speaker’s advocacy comes after President Akufo-Addo nominated two new Judges to the Supreme Court to replace two […]
The Bank of Ghana is adopting escalating punitive remedial and corrective measures against any banks that do not comply with the minimum recapitalisation needed. This is to prevent a negative Capital Adequacy Ratio, whilst closing one-third of the capital gaps per year (end-March 2024 and new end-March 2025. According to the International Monetary Fund, the […]
Moody’s Ratings has indicated possibility of upgrading Ghana’s credit rating after the country Eurobonds exchange. In a note, the global rating agency gave hint that it has completed a periodic review of the ratings of Ghana and other ratings that are associated with this issuer. Ghana’s ratings, which includes its long-term issuer ratings of Caa3 […]
The Social Security and National Insurance Trust (SSNIT) says it saved GH¢ 519 million by “deactivating” names of “ghost pensioners” from its payroll. Mr Kofi Osafo-Maafo, Director General, SSNIT, made this known at a press briefing in Accra, addressing issues about investments and operations of the Scheme. Highlighting some developments and functions, he said the […]
Niger’s military leader, speaking alongside the junta chiefs from Mali and Burkina Faso, has said they are “irrevocably” turning their backs on the wider West African bloc, Ecowas. The three men are meeting together for the first time to cement an alliance created in the face of opposition from neighbouring countries. Soldiers took power in […]
Social media giant, Meta, has officially announced the expansion of its monetization features to Ghana to provide opportunities for content creators to rake in money from their talents. This follows days of rumours about Meta’s decision to expand its monetization features and include Ghana on the list of countries eligible for monetisation. In a statement […]
The National Service Personnel Association (NASPA) has distanced itself from a purported strike declared by a group calling itself the “Concerned NSS Personnel Association of Ghana”. In a statement signed the President of NASPA, Gideon Osei, the association said the group at the centre of the strike had no mandate to represent the interest of […]
The Auditor-General’s reports for last year have detected financial irregularities to the tune of GH¢11.32 billion in public sector finances. The amount is, however, a 32 per cent reduction of GH¢5.2 billion over the previous year’s situation where GH¢16.57 billion irregularities were identified. The improvement made in curbing the irregularities was through concerted interventions of various […]
The Africa Centre for Digital Transformation (ACDT) has warned of potential cyber threats to Ghana’s December 7 elections, urging stakeholders to take immediate action to safeguard the electoral process. The ACDT, in a press statement, highlighted the growing risk of cyber-attacks as digital systems become increasingly integral to Ghanaian society, including its electoral processes. The […]