players say move to ensure sustainability of operations
but bankers’ association oppose move
Telecommunication networks and financial technology companies (fintechs) are exploring options to reintroduce fees on all mobile money transactions even though the Bank of Ghana’s directive of no charges on some transactions for at least three-months...
The Vice-President, Dr. Mahamudu Bawumia, has launched the Integrated ICT System that automates all the operations of the Microfinance and Small Loans Centre (MASLOC) in the country.
He said this is an information technology solution that will address payment and the settlement challenges of MASLOC and bring an air of...
African officials fear market exclusion on temporary bond help
Investors, IMF working on plans to ease countries’ debt burden
African ministers held a video conference call to discuss debt relief last week, the same concern kept cropping up: how to cut the payments without jeopardizing future access to markets.
One...
As the coronavirus pandemic sweeps through the world with its resulting impact threatening the survival of businesses, more and more companies operating in Ghana say they have no option than to jettison staff or, at best, cut their salaries in order to keep their businesses afloat.
With the local tourism...
A critical question is whether the exceptional expenditures relating to COVID-19 or Corona Virus will be recorded as mere (a) “footnote”; (b) Budget Appendix item; (c) “below-the-line” item; and (d) isolated from so-called “headline” budget deficit and public debt in Ghana’s fiscal records. If this continues, it will be...
Expected credit losses
Keeping employees safe
Cybersecurity issues, etc.
Banks should brace for substantial credit losses, increased cybersecurity challenges and increased cost in keeping employees safe as the novel coronavirus (COVID-19) continues to wreak havoc on all sectors of the economy, a report by PricewaterhouseCoopers (PwC) has said.
The report,...
In the wake of the COVID-19 pandemic, Madagascar President, Rajoelina took the world by storm after endorsing a herbal product formulated and manufactured locally by the Malagasy Institute of Applied Research (MIAR).
“All trials and tests have been conducted and its effectiveness has been provided in reducing and elimination of...
The Ghana Export Promotion Authority (GEPA) has taken steps to help farmers boost coconut production for exports in the next five years, as the economy seeks to recover from ravages of the coronavirus pandemic.
With regard to this, the authority has handed 160,000 coconut seedlings to the Coconut Famers Association...
Severe falls in output and new orders
Rate of job cuts remains sharp
Input costs and output prices fall further
The economic downturn in Ghana as a result of the coronavirus disease 2019 (COVID-19) pandemic intensified in April, with declines in output, new orders and purchasing activity much steeper...
…as it records lowest share of GDP in 6yrs
The country’s largest employer and livelihood for many, the informal sector, has seen its lowest contribution to the economy since 2014, despite recording growth rate which more than doubled the 2018 figure.
Data from the Ghana Statistical Service (GSS) indicates the sector...