Business - News Cencord

BoG’s cumulative loss since 2007 redenomination hits GH¢82.79bn — Eight times its profit

News CencordJune 11, 2025

Since the redenomination of the Ghana cedi in 2007, the Bank of Ghana (BoG) has accumulated losses totaling GH¢82.79 billion, according to data compiled by JoyNews Research. This figure starkly contrasts with the central bank’s cumulative profits of GH¢10.74 billion over the same period. The magnitude of these losses—more than eight times the recorded profits—points […]

Gov’t announces major data bundle increases across all networks from July 1

News CencordJune 10, 2025

Communications Minister, Samuel George, has announced increases in data bundle allocations across all telecommunication networks in Ghana, effective July 1, 2025. The Minister revealed these changes during a press conference in Accra today, highlighting successful negotiations with network operators. “I am pleased to announce that my engagement with the CEOs has resulted in the following […]

Diverting bank reserves to COCOBOD threatens monetary stability – Atuahene warns

News CencordJune 10, 2025

Banking Consultant, Dr. Richmond Atuahene has cautioned against proposals for the Bank of Ghana to allocate a portion of the Cash Reserve Ratio (CRR) to support local cocoa purchasing companies. His comments follow a suggestion by the CEO of COCOBOD, Dr. Randy Abbey that 2 to 3 percent of these reserves be redirected to sustain […]

COMAC: Local fuel tax impact worse than global price surge

News CencordJune 10, 2025

The Chamber of Oil Marketing Companies (COMAC) has clarified its stance regarding the government’s new Energy Sector Levy, insisting its concerns lie not with the tax itself, but with the abruptness of its proposed implementation. The GH¢1 per litre levy on petroleum products was initially set to take effect on 9th June but has since […]

Minority laments budget delays; says ‘no funds to work’

News CencordJune 9, 2025

The Minority in Parliament has raised serious concerns over what it deems unnecessary delays by the Ministry of Finance in disbursing funds essential for the effective functioning of Parliament. The opposition MPs argue that these delays are severely undermining the work of parliamentary committees, many of which are now unable to operate due to a […]

GRA postpones implementation of GH₵1 fuel levy

News CencordJune 9, 2025

The Ghana Revenue Authority (GRA) has officially deferred the rollout of the contentious Energy Sector Shortfall and Debt Repayment Levy by one week, shifting the implementation date from June 9 to June 16, 2025. The move comes after strong opposition from the Chamber of Oil Marketing Companies (COMAC), which warned that the GH₵1-per-litre levy could […]

Fuel prices to fall significantly from June 1, 2025

News CencordJune 2, 2025

The prices of petroleum products are expected to witness one of the biggest drops at the pumps this year. This is due to the appreciation of the cedi against the dollar. According to the latest Chamber of Oil Marketing Companies (COMAC) pricing outlook for the first pricing window of June 2025, fuel prices will fall […]

Wontumi under probe for alleged fraud, money laundering and international organized crime – Deputy A-G

News CencordMay 30, 2025

The Deputy Attorney-General and Minister of Justice, Justice Srem-Sai, has broken his silence on the controversial detention of Bernard Antwi Boasiako, popularly known as Chairman Wontumi, revealing that the Ashanti Regional Chairman of the opposition New Patriotic Party (NPP) is under investigation for alleged serious criminal offences, including fraud, causing financial loss to the state, […]

No dividend for ETI shareholders as Board focuses on servicing debts, strengthening balance sheet

News CencordMay 29, 2025

Shareholders of Ecobank Transnational Incorporated (ETI) will not receive dividend payments for the Bank’s 2024 financial performance, despite a record-breaking year and balanced growth across all business segments. The decision was announced at ETI’s Annual General Meeting (AGM) and Extraordinary General Meeting (EGM) held in Lomé, Togo, on May 28, 2025. Speaking at the AGM, […]

Passengers are bleeding while fuel prices drop – CUTS demands sanctions for non-compliant drivers

News CencordMay 27, 2025

Consumer advocacy group CUTS International is demanding urgent government intervention to ensure that Ghanaians fully benefit from recent reductions in fuel prices. The organisation says the refusal of some commercial drivers to comply with the 15% fare reduction announced by the Ghana Private Road Transport Union (GPRTU) is exploitative and must be punished. “Fuel prices […]

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