The Bank of Ghana Monetary Policy Committee (MPC) has announced a cut in the key policy rate from 30 percent to 29 percent, offering businesses a much-needed respite. This marks the first cut in two years. The previous policy rate of 30 percent had lasted a period of six months. Speaking at a press briefing […] The post Policy rate cut to 29% on back of retreating

Bank of Ghana Governor Dr. Ernest Addison has said there is no better time than now for Africa to revisit the issue of scaling-up interoperability, in a bid to deepen financial inclusion and intra-Africa trade. He said the high prevalence of mobile devices, mobile money penetration and increased Internet connectivity offer an opportune window to […] The post

The Ghana Integrated Aluminium Development Corporation (GIADEC) has reached a partnership deal with Mytilineos Energy and Metals toward building an alumina refinery in the country. The agreement pertains to Project 3A, one of four projects under the Integrated Aluminium Industry (IAI) projects at Nyinahin-Mpasaaso in the Ashanti Region. Under terms of the agreement, Mytilineos – a Greek company – will spearhead the development of a […] The post

Recapitalisation efforts on track, profitability rebounds Stability Fund offers additional support Bank of Ghana Governor Dr. Ernest Addison has stated that recapitalisation of banks following the Domestic Debt Exchange Programme (DDEP) should continue without any significant hitches, on account of their performance in 2023, as well as the Ghana Financial Stability Fund (GFSF). Speaking during […] The post Banks