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Middle East Tensions Strain Ghana’s International Reserves
Businessmyjoyonline1d ago

Middle East Tensions Strain Ghana’s International Reserves

Dr. Johnson Asiama, Governor of the Bank of Ghana, revealed that recent tensions in the Middle East have placed significant pressure on Ghana’s international reserves. This situation highlights the global impact of geopolitical events on national economies.

Ghanaian Minority Demands Answers on GoldBod's $1.7 Billion Loss
Businessmyjoyonline5d ago

Ghanaian Minority Demands Answers on GoldBod's $1.7 Billion Loss

Ghana's parliamentary Minority is demanding accountability from GoldBod and the Bank of Ghana regarding a reported $1.7 billion loss, with some members accusing the Majority of shifting the debate from facts to personal attacks. Concerns have been raised that these losses could necessitate taxpayer-funded recapitalization of the central bank.

Bank of Ghana Sells Over $8 Billion to Stabilize Cedi
Worldmyjoyonline13d ago

Bank of Ghana Sells Over $8 Billion to Stabilize Cedi

The Bank of Ghana has sold more than $8 billion into the foreign exchange market since January 2026 to improve liquidity, meet demand, and support the stability of the Ghanaian cedi, which is currently facing fresh pressure.

IMF Advises Bank of Ghana on Policy Rate Cuts
Businessmyjoyonline16d ago

IMF Advises Bank of Ghana on Policy Rate Cuts

The International Monetary Fund (IMF) has advised the Bank of Ghana (BoG) to exercise caution with further policy rate cuts, warning that easing could shift monetary policy from neutral to accommodative, which is not currently warranted.

Ghana's Pension Assets Exceed GH¢100 Billion
Businessmyjoyonline26d ago

Ghana's Pension Assets Exceed GH¢100 Billion

Ghana's pension assets have surpassed GH¢100 billion, with the Bank of Ghana Governor highlighting the industry's growing importance for the country's financial stability and economic development.

Ghana's Economy and Exchange Rate Remain Resilient
Businessmyjoyonline1mo ago

Ghana's Economy and Exchange Rate Remain Resilient

Ghana's economy is reported to remain resilient despite global uncertainties, according to Dr. Asiama, Governor of the Bank of Ghana. The exchange rate has also maintained broad stability amidst global pressures.

Businessforbesmyjoyonline1mo ago2 sources

Rising Fuel Costs Threaten Inflation and Logistics

The Bank of Ghana warns that increasing transport and haulage costs, along with potential fare hikes, could fuel inflation, while Forbes highlights how rising fuel expenses are pushing logistics beyond routing to orchestration, with AI offering solutions.

Bank of Ghana Warns Against Misuse of Cedi Notes
Politicsmyjoyonline1mo ago

Bank of Ghana Warns Against Misuse of Cedi Notes

The Bank of Ghana has issued a warning to the public that spraying cedi notes and creating money bouquets are criminal offenses. The central bank is urging citizens to cease these practices to prevent currency misuse.

Debate Over BoG Governor's Closed-Door Session
Politicsmyjoyonline1mo ago

Debate Over BoG Governor's Closed-Door Session

Concerns have been raised by the Minority regarding the Bank of Ghana Governor's closed-door session, with some expressing confusion over their objections. However, others argue that no rule dictates the Governor's appearance must be in-camera.

Banks Warn Against Collateral Fraud and New Cyber Scams
Businessdr-dkmyjoyonline2mo ago2 sources

Banks Warn Against Collateral Fraud and New Cyber Scams

The Bank of Ghana has warned bank staff against collusion in collateral fraud, while Tryg is cautioning against new types of cyber scams. These warnings highlight ongoing threats to financial security and integrity.

Bank of Ghana Boosts Cedi Support Amidst Renewed Pressure
Businessmyjoyonline2mo ago

Bank of Ghana Boosts Cedi Support Amidst Renewed Pressure

The Bank of Ghana has increased its market support to $1.2 billion for June as the cedi faces renewed pressure, with the Second Deputy Governor urging businesses to avoid speculation and support the currency's stability. This move aims to stabilize the cedi and mitigate further depreciation.

Bank of Ghana Criticized for Supervisory Failure in GN Bank Crisis
Businessmyjoyonline3mo ago

Bank of Ghana Criticized for Supervisory Failure in GN Bank Crisis

Senyo Hosi, Convener of the OneGhana Movement and a finance policy analyst, has asserted that the Bank of Ghana failed in its supervisory responsibilities regarding GN Bank, contributing to the severe financial difficulties that ultimately led to the revocation of its license.

GoldBod Defended Against Claims of Causing Bank of Ghana Losses
Politicsmyjoyonline6d ago

GoldBod Defended Against Claims of Causing Bank of Ghana Losses

Ghanaian politicians and experts are defending GoldBod against accusations that it caused the Bank of Ghana's $1.7 billion loss, challenging claims made in an IMF report. They argue that the losses were necessary for GoldBod to compete in the gold market and stabilize the economy.

US Universities Ordered to Audit China Research Ties
BusinessSCMPmyjoyonline7d ago2 sources

US Universities Ordered to Audit China Research Ties

Thirty US universities, including Harvard and MIT, have been ordered to audit their research ties with China. This directive comes as Harvard also appointed former Bank of Ghana Governor Ernest Addison as a senior research fellow.

IMF Report Reveals Bank of Ghana's $1.7 Billion Gold Purchase Losses
Worldmyjoyonline20d ago

IMF Report Reveals Bank of Ghana's $1.7 Billion Gold Purchase Losses

An IMF report has revealed that the Bank of Ghana incurred $1.7 billion in losses from its gold purchase program, a figure eight times higher than the previously reported $214 million. Gideon Boako has cited the report and questioned GoldBod about these significant losses.

Bank of Ghana Absorbs GH¢11.5 Billion from Market with Cash Reserve Ratio
Businessmyjoyonline21d ago

Bank of Ghana Absorbs GH¢11.5 Billion from Market with Cash Reserve Ratio

The Bank of Ghana (BoG) has stated that its early assessments of the 20% Cash Reserve Ratio (CRR) implementation have been orderly, leading to the absorption of GH¢11.5 billion from the market. The Central Bank has been closely monitoring liquidity conditions, money market rates, credit activity, and the foreign exchange market since its introduction.

Bank of Ghana Defends Policy Rate Amid Global Uncertainties
Businessmyjoyonline1mo ago

Bank of Ghana Defends Policy Rate Amid Global Uncertainties

The Bank of Ghana has defended its decision to maintain the Monetary Policy Rate (MPR) at 14%, citing easing global oil prices, a favorable inflation outlook, and strong external reserves as factors giving policymakers confidence, while leading economic institutions forecast inflation rates of 5.0% and 4.90% respectively for July 2026.

Bank of Ghana Warns Against Rejecting Cedi Coins
Worldmyjoyonline1mo ago

Bank of Ghana Warns Against Rejecting Cedi Coins

The Bank of Ghana has issued a warning to traders, transport operators, and businesses, stating that refusing to accept Ghana cedi coins as payment is a criminal offense punishable by law.

Ghana's Cedi Stability Linked to Bawumia's Gold Reforms
Politicsmyjoyonline1mo ago

Ghana's Cedi Stability Linked to Bawumia's Gold Reforms

Ghana's Bank of Ghana (BoG) has reportedly validated Vice President Bawumia's gold reforms, with a government official stating that the BoG's own answers confirm the recent stability of the cedi is sustained through the Domestic Gold Purchase Programme.

BoG Governor urges traders to keep cedi notes clean
Businessmyjoyonline1mo ago

BoG Governor urges traders to keep cedi notes clean

The Governor of the Bank of Ghana (BoG) has appealed to traders and market operators to adopt proper cash-handling practices to preserve the quality of Ghana's currency. This is part of a national clean-up drive.

Ghana's Central Bank Calls for Unified System to Combat Digital Payment Fraud
Businessmyjoyonline1mo ago

Ghana's Central Bank Calls for Unified System to Combat Digital Payment Fraud

The Bank of Ghana is advocating for an industry-wide system to combat fraud across banks, fintechs, and mobile money platforms, recognizing that digital payments can formalize the informal economy but are threatened by fraud. While technology can prevent hacking, the Bank of Ghana's Fintech Head notes that customers surrendering their PINs remains a significant vulnerability.

Ghana Minority Questions Government's MoMo Levy Enforcement and Suspension
Politicsmyjoyonline3mo ago

Ghana Minority Questions Government's MoMo Levy Enforcement and Suspension

The Minority in Ghana's Parliament has accused the governing National Democratic Congress (NDC) of attempting to introduce a 0.75% charge on mobile money transactions through the Bank of Ghana and a private fintech arrangement. They have also raised concerns over the Bank of Ghana’s decision to suspend the proposed charge, questioning the explanation of 'further consultation'.

GN Savings Founder Disputes Insolvency Claims in License Revocation
Businessmyjoyonline3mo ago

GN Savings Founder Disputes Insolvency Claims in License Revocation

Dr. Kweku Ndoum, founder of GN Savings, expressed shock over the revocation of its license and disputed claims that the institution was insolvent prior to the downgrade and subsequent revocation. A lawyer for GN Savings also stated that the Bank of Ghana revoked the license solely on insolvency grounds, not other alleged breaches.

IMF Urges Tighter Controls on Ghana's GoldBod Programme
Businessmyjoyonline22h ago

IMF Urges Tighter Controls on Ghana's GoldBod Programme

The International Monetary Fund (IMF) has called for improved governance and transparency in Ghana’s Domestic Gold Purchase Programme (DGPP), citing concerns that its financial costs contribute to pressure on the Bank of Ghana’s balance sheet.

Minority Files Motion for Probe into GoldBod's Alleged $1.7 Billion Loss
Politicsmyjoyonline1d ago

Minority Files Motion for Probe into GoldBod's Alleged $1.7 Billion Loss

Ghana's Minority caucus has filed a new motion seeking a parliamentary probe into an alleged $1.7 billion loss by GoldBod, while GoldBod denies claims of a GH¢1 billion overdraft from the Bank of Ghana and demands a retraction from Boako. Boako, in turn, questions GoldBod's reported GH¢907 million profit amidst the overdraft allegations.

Bank of Ghana Expected to Maintain Cautious Monetary Policy
Businessmyjoyonline26d ago

Bank of Ghana Expected to Maintain Cautious Monetary Policy

Ghana's central bank is likely to maintain a cautious, data-dependent monetary policy stance, with gold and cocoa exports expected to support the external sector despite risks to reserves and the cedi from energy payments and global volatility.

Bank of Ghana Advocates for Financial Health and Innovation
Businessmyjoyonline28d ago

Bank of Ghana Advocates for Financial Health and Innovation

The Bank of Ghana is advocating for a shift from mere financial access to comprehensive financial health to deepen inclusion, emphasizing that innovation must be safeguarded by regulation without being stifled. These discussions took place during the Ecobank-JoyNews Financial Dialogue Series.

Bank of Ghana to Divest Remaining Stakes in ADB and NIB
Businessmyjoyonline1mo ago

Bank of Ghana to Divest Remaining Stakes in ADB and NIB

The Bank of Ghana (BoG) plans to sell its remaining shareholdings in the Agricultural Development Bank (ADB) and the National Investment Bank (NIB). This move is part of an effort to strengthen the BoG's role strictly as a financial sector regulator.

Ghanaian Majority Defends Closed-Door BoG Meeting, Citing Independence
Businessmyjoyonline1mo ago

Ghanaian Majority Defends Closed-Door BoG Meeting, Citing Independence

The Chairman of Parliament’s Economy and Development Committee, Eric Afful, has defended a closed-door meeting regarding the Bank of Ghana (BoG). He dismissed suggestions of shielding the central bank from scrutiny, emphasizing the need to handle its operations with discretion to maintain independence.

Bank of Ghana Expected to Maintain Benchmark Rate
Businessmyjoyonline1mo ago

Bank of Ghana Expected to Maintain Benchmark Rate

The Ghana Bankers Association anticipates that the Bank of Ghana will keep its monetary policy rate unchanged at the upcoming Monetary Policy Committee meeting, despite improvements in macroeconomic conditions.

Access Bank Ghana Appoints Two Executive Directors
Businessmyjoyonline2mo ago

Access Bank Ghana Appoints Two Executive Directors

Access Bank (Ghana) PLC has announced the appointment of two accomplished banking executives to its senior leadership team. These appointments follow regulatory approval from the Bank of Ghana, strengthening the bank's leadership.

Ghana Cedi Depreciation Attributed to Global Conflicts and Demand
Businessmyjoyonline3mo ago

Ghana Cedi Depreciation Attributed to Global Conflicts and Demand

The recent depreciation of the Ghanaian cedi, extending to 10.11% against the dollar, is attributed to demand pressures and global conflicts. The Bank of Ghana assures adequate reserves to meet forex demand, describing the current pressure as temporary and within reasonable limits compared to historic rates.