Economy

Nigeria’s currency is expected to come under pressure on the black market this week, with Uganda’s seen firming and Kenya and Zambia’s holding stable. NIGERIA Nigeria’s naira is seen weakening on the black market as dollar shortages at official sources cause investors and importers to channel demand to the parallel...

Rural and Community Banks (RCBs) could face exacerbated liquidity challenges in the times ahead if the impacts from coronavirus on the economy persist for long as they await payment of locked up investments with collapsed fund management firms. The future looks quite bleak for the rural banking space as the two...

“The coronavirus pandemic has really affected me financially. I have emptied my savings account at the moment and I am really struggling to survive. My school paid me full salary for the month of March, but told me I wouldn’t be paid anything from April since there is no...

...as it kicks against plans to turn Ghana Gas into aggregator It is high time Ghana stopped the continuous political experimentation with gas resources, the Africa Centre for Energy Policy (ACEP) has said - insisting that government halts the proposed plan to make Ghana National Gas Company (GNGC) a gas...

The Trade Union Congress (TUC) is making a case for government to waive the Vehicle Income Tax (VIT) as a measure to cushion COVID-19’s impact on commercial transport owners and drivers. According to the TUC, a total or partial waiver for a period would go a long way to lessen...

Stark warnings about the COVID-19 shock’s potentially devastating effects on emerging markets (EMs) have become ubiquitous. With the pandemic engulfing ever more countries, EMs face a mass exit by foreign investors seeking safe assets. As a result, capital outflows and currency depreciations have become unprecedentedly synchronized. A first round of...

After three months’ victory over the wrestle with its major trading currency, the US dollar, the cedi finally lost its valour and entered into depreciating mode, as it has succumbed to the threat from the devastating impact of the coronavirus pandemic. The local currency was on top of its game...

Consumers will soon have to pay more than the current average pump price of GH¢4.01 per litre for fuel, the Institute of Energy Security (IES) has predicted, citing a surge in prices on the international market. The energy think-tank believes that the national average price of Gh¢4.01 per litre for...

…following BoG’s earlier policy rate cut After staying virtually flat for about a year and a half, the average lending rate of banks has started to show signs of decline in April after the Bank of Ghana reduced the monetary policy rate the month before. The Summary of Economic and Financial...

President Nana Addo Dankwa Akufo-Addo has urged potential beneficiaries of the GH¢1billion loan support scheme set aside for businesses to endeavour to invest the monies in their work and bring the economy back on track from impacts of the coronavirus pandemic. According to the president, the outbreak of coronavirus has...