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Ghana Revenue Authority posts GH¢43.9b as total revenue for 2019

The Ghana Revenue Authority (GRA) collected a total revenue of GH¢43.9 billion in 2019 as against a revised target of GH¢42.08 billion. This represents an actual revenue growth of 16.6 per cent, exceeding the revised target by 4.4 per cent, Mr. Ammishaddai Owusu-Amoah, the acting GRA Commissioner-General, has disclosed. Giving …

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Moody’s says significant drop in non-performing loans of Ghana banks is credit positive

As at October 2019, the non-performing loans (NPLs) of banks in Ghana stood at 17.3 per cent, but according to the Bank of Ghana, it has dropped to 13.9 per cent as of December 2019 and credit rating company, Moody’s says, that is a credit positive. According to Moody’s the …

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Ghana and the rosewood curse

When the final stock is eventually taken, the illegal logging of rosewood would be found to have left a deep scar on Ghana and mostly its vulnerable people and communities. The level of illegal logging of the precious tree species for export has left a gaping hole in the Savannah …

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Ghana allocates GH¢2.5m in preparedness against coronavirus

Though there is no confirmed case of the coronavirus in Ghana, the Government has allocated GH¢2.5 million as start-up towards the initial implementation of the national preparedness plan. The move is in response to recommendation by the World Health Organisation (WHO) for countries to strengthen their health systems following the …

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Western Region Social Welfare Department can’t account for GH¢64,000

Questions are being asked at the Western Regional Directorate of the Social Welfare Department following failure of the Regional Director to account for over GH¢64,000 that was allocated to the Directorate in 2019. Mr. Jonathan Djan Gyau, the Western Regional Director of the Social Welfare Department, is alleged to have …

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How Ghana Parliament debated the loan to buy two C-295 Airbus military aircraft

Mr William O. Boafo (NPP –– Akropong): Mr Speaker, I beg to second the Motion moved by the Chairman of the Finance Committee. Mr Speaker, the purpose of the Motion is to ask the House to approve the procurement of CASA 295 for the Ghana Air Force and they are …

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Ghana to investigate Airbus bribery scandal

The Ghana government is starting an investigation into the Airbus bribery scandal in five countries that included Ghana. A statement from the Office of the President says he has referred the matter to the Special Prosecutor to collaborate with its UK counterparts “to conduct a prompt inquiry to determine the …

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Trump wanted to repeal US law applied in Airbus bribery case – New book

Donald Trump

The President of the United States, Donald Trump in 2017 had asked his officials to act to repeal a law that prohibited companies operating in America from paying bribes to foreign officials to obtain contracts or to retain them. The Foreign Corrupt Practice Act (FCPA), enacted in 1977 prohibits companies …

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I would have classified the banks into three Tiers – Mahama

Former President John Dramani Mahama has stated that if he was still in power, he would not have collapsed the banks, but would have placed them in three tiers according to their financial capabilities. “My administration wouldn’t have collapsed those banks at ago, but would have placed them in Tier …

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Bank of Ghana maintains policy rate at 16%, as banking sector deposits hit GH¢83b

The Bank of Ghana considering that the synchronised slowdown in the global economy during 2019 is beginning to give way to a recovery, mainly in the emerging market and developing economies and at a modest and uneven pace, and taking into account the coordinated monetary policy responses of the major …

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