…as raw materials shortage keeps prices up
Businesses in the country, especially those in the retail sector, are calling for the borders to open as the gradual return to normal is being impeded by their closure, an IHS Markit Ghana survey has shown.
Government ordered the closure of borders in March...
Government debt burdens across sub-Saharan Africa are rising at a faster pace and to higher levels than elsewhere in emerging markets, heightening the risk of further rating downgrades and defaults, ratings agency Fitch warned on Tuesday.
Emerging markets have been battered by the fallout from the coronavirus pandemic, with a...
The Ghana Revenue Authority (GRA) has locked up an unlicenced Chinese Factory - Everyday Manufacturing Ltd. - located at the Awutu Senya Constituency in the Central Region for illegally recycling cartons of government textbooks into toilet-rolls.
The Special Revenue Mobilisation Task Force of the GRA embarked on the action after...
After ravaging the developed world, COVID-19 is now devastating developing and emerging-market countries, most of which lack the medical and financial capacity to combat the pandemic and its economic effects.
For advanced economies, the first line of defense has been social distancing, hand washing, face masks, and widespread lockdowns. But...
In spite of the annihilative impact of the coronavirus pandemic on the country’s local currency, making it record its highest depreciation against the US dollar since the beginning of the year, the Bank of Ghana (BoG) says it expects the cedi to gain stability as pressure on it has...
Nigerian banks plan to restructure over a third of loans after running into repayment problems due to the coronavirus pandemic, a member of the central bank monetary policy committee said.
A total of 17 banks have submitted requests to restructure over 32,000 loans for businesses and individuals, representing 33% of...
Nigerian President Muhammadu Buhari said last week Tuesday that West Africa’s plan to adopt a common currency was being put at risk by some countries’ attempts to progress more quickly than the agreed timetable.
Nations in the region are aiming to adopt a single currency to boost trade and economic...
Sovereign wealth funds investing more at home
Trend to quicken after economic rout
Risk of missing out on cheap deals overseas
Lion’s share of investments still overseas
Famed for snapping up glitzy real estate and stakes in troubled international banks during the global financial crisis, sovereign wealth funds are...
African countries made great strides in strengthening commitments and capacity to achieve tax transparency and exchange information on illicit fund flows in 2019, the latest Tax Transparency in Africa report, launched Thursday, revealed.
Tax Transparency in Africa 2020 - produced by the Global Forum for Transparency and Exchange of Information...
Central bank governor, Ernest Kwamina Addison, said on Thursday that Ghana needs to raise more domestic revenue to tackle a ballooning budget deficit that could exceed 7% of GDP this year, as growth shrivels due to the coronavirus crisis.
The deficit hit 3.4% of GDP in the first quarter against...