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The finance and energy expert, Alex Mould has, thus, summarised the liabilities of the major SOEs in the country to help in critical scrutiny of the performance of the SOEs. In the summary, it was clear that, most of the SOEs more than doubled their arrears payments or liabilities. The heavily indebted were GNPC, Ghana Cocoa Board (COCOBOD) and Electricity Company of Ghana (ECG). These companies have their liabilities exceeding GHC10.0 billion within a period of four years from 2016 to 2020.

The Consolidated Bank Ghana, (CBG), has continued to reject the Ghana Card as a medium of identity for customers who want to use it for financial transactions.

The Economic and Organised Crime Office (EOCO) in collaboration with the Ghana Association of Banks, has arrested four (4) persons engaged in SIM swap fraud.

According to a Bloomberg report, the Ghana Cedi depreciated by 18.21 percent against the U.S dollar in the first quarter of 2022. This places the Cedi as the worst-performing currency in Africa while the Angolan Kwanza is the best-performing currency in Africa as it currency appreciated by 24 percent against the dollar.

Although the telcos have assured to do their best to ensure the required systems are put in place to collect the E-levy, they say, the right infrastructure must be put in place, and tested to ensure that they are fit for purpose before going live.

The Bank of Ghana’s latest forecast still depicts an elevated inflation profile in the near term, with inflation falling within the medium-term target band within a year.

According to Bloomberg, the yield on the country’s $1 billion bond maturing in 2026 declined for the sixth consecutive day, as President Nana Akufo-Addo reiterated government’s commitment to get the economy back on track.

These survey findings were broadly in line with observed trends in the February 2022 Ghana Purchasing Managers Index (PMI). The Ghana PMI, which is a measure of the rate of inventory accumulation by managers of private sector companies, declined below the 50.0 benchmark on the back of weak output and purchasing activity amidst rising inflation.

Developments in the banking sector over the first two months of 2022 show continued strong asset growth. Total assets stood at GH¢187.8 billion in February 2022, representing 23.5 percent annual growth, compared with 18.5 percent growth in the previous year.

Mobile Money (MoMo) vendors across the country complained that, there were madrush withdrawals at their various mobile money vending outlets causing them to run out of cash which has tendency to collapse their petty business in the circumstances of the current economic hardship. However, it took the president, Nana Akufo Addo two working days to assent to the E-Levy law despite majority of Ghanaians haven openly kicked against the levy, especially taxing MoMo. An economics professor at the University of Ghana Business School shared his disappointment at the government for ignoring a better and progressive tax alternatives to push through the regressive E-Levy.