Sunon Asogli Power Ghana Limited has revealed that it has not yet received any portion of a promised $30 million payment from the government, despite public assurances from the Ministry of Finance. Dr. Elikplim Apetorgbor, the company’s Business Development Manager, clarified that while the Controller and Accountant General’s Department (CAGD) initially pledged to disburse the funds in several tranches starting …

Letshego Ghana Savings and Loans PLC has achieved the internationally recognized ISO 27001 certification, marking a major milestone in its efforts to secure customer data and strengthen operational resilience. As a subsidiary of the Letshego Group, the company’s attainment of this standard signifies a rigorous commitment to its Information Security Management System, ensuring that sensitive financial and personal information is …

The International Monetary Fund has projected that Ghana will experience a significant cooling of its economy, with average inflation expected to settle at 19.5% for 2024 and drop further to 11.5% in 2025. According to the October 2024 World Economic Outlook, the year-end inflation rate for 2025 is estimated to reach 8.1%, which would represent the lowest level the country …

The cola nut industry in Tamale is currently grappling with a severe supply crisis and unprecedented price hikes that are placing immense pressure on both merchants and traditional users. This trade, which has historically served as a reliable source of income in the Northern regional capital, is now struggling to remain viable due to a heavy reliance on imports and …

Since 2017, the Ghanaian government has facilitated the creation of more than 350,000 jobs within the coconut value chain through targeted investments and a comprehensive revitalization strategy. Dr. Afua Asabea Asare, CEO of the Ghana Exports Promotion Authority (GEPA), recently noted that this employment surge is the direct result of distributing over one million disease-tolerant seedlings to farmers. This initiative …

The Public Interest and Accountability Committee (PIAC) has issued a stark warning regarding the future of Ghana’s upstream petroleum sector, noting that a persistent slump in crude oil output is directly threatening national revenue. During a consultative workshop in Accra, PIAC member Constantine K.M. Kudzedi highlighted that while petroleum receipts constitute approximately 7% of total government income, they serve as …

The Weta Rice Farmers Association in the Ketu North District of the Volta Region has officially launched, aiming to modernize and scale rice production in one of Ghana’s most productive agricultural hubs. The enclave currently produces a substantial 142,450 metric tons of milled rice annually, a feat that requires a massive localized investment of approximately 9.5 million Ghana cedis in …

The Ghana Revenue Authority (GRA) has officially announced a nationwide debt recovery operation aimed at retrieving all unpaid taxes owed to the state. In a formal statement, the Authority clarified that this enforcement exercise will target every category of taxpayer, ranging from individual citizens to large corporate entities. The GRA has issued a final window for compliance, urging all persons …

According to a late 2024 report from the World Bank, Ghana’s monetary policy rate reached a record high of 27.0%, the most substantial in Africa at that time. This elevated rate was maintained by the Bank of Ghana to control inflation and establish a sustainable trajectory toward its financial targets. In regions facing persistent double-digit inflation and weakening currencies, such …

The National Petroleum Authority (NPA) has introduced a price floor mechanism for the second half of October 2024, establishing a minimum cost of GH₵12.73 per litre for petrol and GH₵13.43 per litre for diesel. This regulatory directive prohibits any oil marketing company from selling fuel below these specific benchmarks. In its guidance to Oil Marketing Companies (OMCs) and Liquefied Petroleum …