The Minority in Parliament has strongly condemned the Bank of Ghana’s (BoG) decision to terminate the appointments of over 100 staff members, describing the move as unlawful, unfair, and a violation of labour rights. On Thursday, June 19, the BoG issued termination letters to affected employees, citing the failure to meet conditions of a six-month […]
The Bank of Ghana (BoG) has announced a robust set of measures to tackle the alarming rate of non-performing loans (NPLs) within Ghana’s financial sector, including a five-year ban on access to credit for wilful loan defaulters. In a statement issued on June 16, 2025, the central bank said persons identified by Regulated Financial Institutions
Bank of Ghana Imposes 5-Year Ban on Wilful Loan Defaulters Read More »
GoldBod CEO Sammy Gyamfi has disclosed that from February to May 2025, the company—formerly known as the Precious Minerals Marketing Company (PMMC)—has purchased and exported GHS40 billion worth of gold from Ghana’s Artisanal Small-scale Mining (ASM) sector on behalf of the Bank of Ghana (BoG). This translates to an export value of approximately $4 billion
The First Deputy Governor of the Bank of Ghana (BoG), Dr. Mumuni Zakaria, says the central bank is not using its reserves to hold up the cedi. He explained that the recent strength of the cedi is real and not fake. “If we were using our reserves heavily, we wouldn’t be building them up so
BoG Deputy Governor: We’re Not Using Reserves to Support the Cedi Read More »
Economist and banking consultant, Dr. Richmond Atuahene, says the recent rise in the value of the Ghana cedi is not just because of the government’s gold-for-oil policy. He explained that the cedi’s strength comes from many factors working together. “The cedi is not rising because of gold alone,” he said. “Let me tell you, remittances
Cedi’s Rise Not Only Because of Gold – Dr. Atuahene Explains Read More »
On July 19, 1965, the Cedi replaced the Ghanaian Pound as the country’s sole legal tender, marking a significant step in Ghana’s economic history. Over the past six decades, the Cedi has undergone several transformations to adapt to the evolving needs of the economy. These changes reflect Ghana’s resilience, innovation, and pursuit of economic stability.
