Category: Business
Ghana’s Business Sector Still Struggling to Recover from DDEP – Nana Osei Bonsu
The Ghanaian business community continues to grapple with the aftermath of the Domestic Debt Exchange Programme (DDEP), says Nana Osei Bonsu, Chief Executive Officer of the Private Enterprise Federation. In a recent interview on Joy News’ PM Express Business Edition, Bonsu emphasized that the private sector, in particular, remains heavily impacted by the debt restructuring…
Fuel Prices Rise Again: Diesel Now GH₵14.99, Petrol at GH₵14.72 Per Litre
Fuel prices in Ghana are nearing GH₵15 per litre, with diesel now selling at GH₵14.99 and petrol at GH₵14.72 per litre. The recent hikes were anticipated by industry analysts, driven by the continuous depreciation of the Cedi and rising global petroleum prices. Shell has led the increase, raising its prices for the second time this…
Sunon Asogli Shuts Down 560MW Power Plant Over $259 Million Debt to ECG
Sunon Asogli Power (Ghana) Limited has shut down its 560MW power plant due to the Electricity Company of Ghana’s (ECG) inability to clear its outstanding $259 million debt. The power plant shutdown, announced on October 16, 2024, comes after ECG failed to meet its overdue payment obligations, leaving Sunon Asogli struggling to maintain operations. According…
Government begins Eurobond debts servicing
The government of Ghana has officially resumed payments on its Eurobond debts after successfully completing a debt exchange programme with bondholders. The Ministry of Finance has made a total payment of $520 million, which includes a $120 million consent fee paid to bondholders who agreed to the terms of the exchange. The debt service, which…
ADB Board Chairman Daasebre Akuamoah Agyapong II resigns
The Board Chairman of the Agricultural Development Bank (ADB), Daasebre Akuamoah Agyapong II, has resigned with immediate effect following allegations of extortion made against him by a customer of the bank. His resignation came after an emergency board meeting, during which Daasebre Akuamoah Agyapong II, who is also the Kwahumanhene, stepped down in what is…