Browsing: foreign exchange

By Adnan Adams Mohammed The Bank of Ghana (BoG) is launching a comprehensive National Remittance Strategy and accompanying roadshow,…

Governor of the Bank of Ghana (BoG), Dr Johnson Asiama, says the central bank was compelled to support the foreign…

As part of measures to control foreign currency exchange market, commercial banks have started enforcing a new directive from the…

A Managing Partner of Konfidants (an advisory firm), Michael Kottoh, noted a steady recovery in business confidence following a prolonged period of economic turbulence. He pointed out that past economic challenges such as; inflation, the domestic debt exchange programme, currency instability, and turmoil in the banking sector, had severely weakened investor sentiment beginning in 2022.

Ghana has risen to become the fifth-largest holder of central bank gold reserves in Africa, with 28.1 tonnes as of October 2024.

Adnan Adams Mohammed The Bank of Ghana’s Domestic Gold Purchase Programme has so far amass 65.4 tonnes…

The decline in Ghana’s inward remittances has been validated by the Bank of Ghana that the newly licensed MTOs and 11 Fintech Companies have withheld approximately GH¢18 billion (US$ 3 billion) in 2022 and GH¢57 billion (US$ 5 billion) in 2023 at the expense of the country’s foreign currency reserves.