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Growing concerns about China’s economy and oil demand prompted traders to head for the exit and reduce their net long positions in both key benchmarks last week. Speculators reduced their net long position – the difference between…

Sentuo Group is investing $980 million to build a two million metric tons per year oil refinery in Tema, with a second phase planned to add another three million metric tons per year. Mr Xu Ningquan, Executive Chairman of the Sentuo…

The banking industry’s Non-Performing Loans (NPLs) ratio surged to 24.1% in June 2024, up from 18.7 percent in June 2023. According to the Bank of Ghana, despite improvements in the banking sector’s performance, elevated credit risk…

The 2023 Auditor General Report has urged the Bank of Ghana to recover GH¢8.241 billion owed by the Ghana Cocoa Board (COCOBOD). According to the report, COCOBOD has consistently defaulted on loan facilities granted by the Bank of Ghana,…

Forty four Oil Marketing Companies (OMCs) owed BOST a total amount of GH¢59.525 million in respect of margin levies as of December 31, 2022, the 2023 Auditor General Report has revealed. It is therefore recommending that management take…

The 2023 Auditor General Report uncovered total irregularities of ¢8.799 billion among Public Boards, Corporations and other Statutory Institutions. This is a sharp fall from the 2022 irregularity of ¢15.059 billion, approximately 41.6%…

The government missed its treasury bills target for the third consecutive week, as liquidity remained relatively tight on the money market. According to auction results from the Bank of Ghana, it got GH¢4.062 billion from the sale of the…

Average lending rate of banks declined marginally to 31.10% in June 2024 from 31.15% in May 2024.  This is equivalent to 2.591% per month. According to data from the Bank of Ghana, the declining cost of borrowing reflects an easing…

Ghana has encountered significant economic challenges in recent times. These challenges have resulted from enormous strain on the country’s economy due to global geo-political developments coupled with domestic issues. The…

Labour expert Austin Gamey has said the many challenges bedeviling pension fund management by the Social Security and National Insurance Trust (SSNIT) are a result of accumulated violations of the rules governing pension management.…