Africa, a continent full of promise, is seeing something significant happening: its richest people are moving to other parts of the world. This movement is not just about where they’re going; it’s also about what it means for Africa’s economy. In recent years, many billionaires from Africa have decided to live outside the continent. According … Read more
In a recent development, the Bank of Ghana has taken decisive action against Zeepay Ghana Limited for violating forex regulations. The regulatory body fined Zeepay Ghana for breaching clause 7.3(a) of the Inward Remittance guidelines. The specific violation relates to the settlement bank’s failure to follow the prescribed average interbank exchange rate, as outlined in … Read more
The Ghanaian government has allocated over GH¢700 million for book and research allowances for lecturers in tertiary educational institutions since 2020, President Nana Addo Dankwa Akufo-Addo has disclosed. This substantial financial support aims to ensure that academic researchers have essential resources for their research activities. President Akufo-Addo made this announcement at the opening of the … Read more
Ghana’s Deputy Minister for Finance, Dr. Stephen Amoah, has attributed the persistent depreciation of the Ghanaian cedi to the country’s import-driven economy, describing it as a “ritual problem” that requires national attention beyond the capacity of any single government. The Root of the Issue Speaking to the media on Wednesday, Dr. Amoah emphasized that the … Read more
Twenty-four startups from universities across Ghana have received seed funding through the AgriTech Challenge Pro, a flagship program organized by the Kosmos Innovation Centre (KIC) and the Mastercard Foundation. This initiative aims to scale up agricultural businesses and foster interest in agriculture among students and young graduates. PAY ATTENTION: Agribusiness Boom in Ghana: What You … Read more
Ghana’s largest telecommunications network, MTN Ghana, has announced that it will phase out scratch cards for mobile phone top-ups, effective June 30, 2024. This initiative is part of the company’s digitalisation strategy and aligns with the Ghanaian government’s broader digital agenda. Transition Details In its announcement, MTN Ghana informed customers and retailers that unused scratch … Read more
Africa is making significant strides toward establishing financial independence by reducing its reliance on Western payment systems. This push for payment sovereignty is spearheaded by the African Continental Free Trade Area (AFCFTA), which aims to create a unified and robust infrastructure that connects the payment systems of African countries. Pan African Payment and Settlement System … Read more
The Ghana Revenue Authority (GRA) has firmly dismissed allegations that it calculates customs duties using foreign currency, specifically the U.S. dollar. This assertion was made in response to recent claims that have been circulating in the media, suggesting that importers are required to settle duties and taxes in foreign currencies. In a press release issued … Read more
The federal government has officially announced the suspension of the 0.5% cybersecurity levy recently imposed by the Central Bank of Nigeria (CBN). This decision comes after widespread public outcry and negative reactions from various stakeholders, including Nigerians, manufacturers, organized labor, and civil society organizations (CSOs), who expressed concerns about the levy’s potential to overburden citizens … Read more
Former Governor of Kogi State, Yahaya Bello, has vehemently refuted allegations suggesting that he used state funds to pay his children’s school fees. In a statement released by his media office,Yahaya Bello dismissed claims made by Ola Olukoyede, Chairman of the Economic and Financial Crimes Commission (EFCC), regarding the payment of school fees from Kogi’s … Read more