Business

Illegal Mining Threatens Cashew Production, Livelihoods In Bono Region
14 Mar

Illegal Mining Threatens Cashew Production, Livelihoods In Bono Region

CUD Wontumi0 CommentsBusiness, ,
The alarming surge of illegal mining, known locally as ‘galamsey’, has begun to devastate cashew farms in Bono Region – posing threats to the sustainability of cashew production and livelihoods of many farmers. Illegal miners, including nationals from China, have invaded key cashew production areas in Wenchi municipality and Banda district. Their activities are causing significant destruction to cashew farms, water bodies and agricultural lands. Communities such as Branam, Amponsakrom and Atuna in the Wenchi municipality, alongside Bandaboase, Surubokrom, Nipanikrom and ‘Operator’ in the Banda district, are under siege. The unscrupulous gold miners operate with alarming impunity, which directly threatens…
Read More
Cedi Moves From GH¢16.10 To GH¢16.20 Against A Dollar At Forex Bureaus
14 Mar

Cedi Moves From GH¢16.10 To GH¢16.20 Against A Dollar At Forex Bureaus

CUD Wontumi0 CommentsBusiness,
Ghana's local currency, the cedi, has recorded marginal gains against major trading currencies, particularly the US dollar, at some forex bureaus. In its daily update, the Central Bank noted that the cedi is trading at a buying price of GH¢15.52 and a selling price of GH¢15.53 to a dollar. The British pound is being bought at GH¢20.08 and sold at GH¢20.11, while the euro trades at a buying price of GH¢16.85 and a selling price of GH¢16.87. Checks by GhanaWeb Business on March 14, 2025, at 08:00 AM indicate that the cedi is trading at GH¢16.20 to the dollar, while the pound…
Read More
Minority Dismisses 2025 Budget As Lacking Credibility
13 Mar

Minority Dismisses 2025 Budget As Lacking Credibility

CUD Wontumi0 CommentsBusiness,
The Minority in Parliament has strongly criticised the 2025 Budget Statement presented by Finance Minister Dr Cassiel Ato Forson on Tuesday, March 11, describing it as lacking credibility due to inconsistencies in the figures. At a press conference on Thursday, March 13, former Finance Minister and Ranking Member of Parliament’s Finance Committee, Dr Mohammed Amin Adam, led the Minority in challenging the accuracy of the budget. He argued that the figures cited by Dr Forson in Parliament did not align with those in the official budget documents, including its appendices, raising concerns about transparency and accountability in the government’s fiscal…
Read More
Cooking Figures Will Make Investors Punish You – Amin Adam Warns Finance Minister
13 Mar

Cooking Figures Will Make Investors Punish You – Amin Adam Warns Finance Minister

CUD Wontumi0 CommentsBusiness
Former Finance Minister and Ranking Member of Parliament’s Finance Committee, Dr Mohammed Amin Adam, has cautioned Finance Minister Dr Cassiel Ato Forson against manipulating economic figures, warning that such actions could erode investor confidence in Ghana. Speaking at a press conference for the Minority Caucus on Thursday, March 13, Dr Amin Adam accused Dr Forson of misrepresenting key economic data to paint a negative picture of the country’s financial situation. He argued that presenting misleading statistics could have serious consequences for Ghana’s economic credibility. “So, you see, if you cook figures to create a narrative to run your country down,…
Read More
NPP Gov’t Left Behind A Strong And Healthy Economy – Amin Adam
13 Mar

NPP Gov’t Left Behind A Strong And Healthy Economy – Amin Adam

CUD Wontumi0 CommentsBusiness
Former Finance Minister and Ranking Member of Parliament’s Finance Committee, Dr Mohammed Amin Adam, has insisted that the New Patriotic Party (NPP) administration left behind a stable economy before handing over to the National Democratic Congress (NDC) government. He maintained that key economic indicators showed the economy was in good shape despite attempts by the new administration to suggest otherwise. Speaking at a press conference for the Minority Caucus on Thursday, March 13, Dr Amin Adam accused Finance Minister Dr Cassiel Ato Forson of manipulating fiscal data to paint a negative picture of the economy. “Ladies and gentlemen, as you…
Read More
Business Mogul Richard Nii-Armah Quaye Acquires Private Jet And Bugatti To Mark 40th Birthday
13 Mar

Business Mogul Richard Nii-Armah Quaye Acquires Private Jet And Bugatti To Mark 40th Birthday

CUD Wontumi0 CommentsBusiness, , ,
Ghanaian entrepreneur Richard Nii-Armah Quaye, CEO of Bills Microcredit, has made headlines after acquiring a branded private jet and a luxurious Bugatti Chiron as part of his 40th birthday celebrations. The businessman, who turns 40 on March 21, 2025, took to Instagram to share the news, sparking a wave of reactions from fans and celebrities alike. The private jet, boldly branded with his initials, RNAQ, was unveiled on his Instagram page with the caption, “…and I got myself a jet too #RNAQ40.” The acquisition of the jet came just hours after news broke of his purchase of a Bugatti Chiron,…
Read More
Ghana To Receive $1.32 Billion From IMF, World Bank To Fund 35% Of Budget Deficit – Ato Forson
12 Mar

Ghana To Receive $1.32 Billion From IMF, World Bank To Fund 35% Of Budget Deficit – Ato Forson

CUD Wontumi0 CommentsBusiness
The Minister of Finance, Dr Cassiel Ato Forson, has disclosed that the government is to receive a total of US$1.32 billion in financial support from the International Monetary Fund (IMF) and the World Bank to fund 35 percent of Ghana’s budget deficit in 2025. According to the finance minister, US$720 million will come from the ongoing IMF Extended Credit Facility (ECF) programme, while the World Bank Development Policy Operation (DPO) will provide US$600 million. “The cash deficit of GH¢56.9 billion is expected to be financed from both foreign and domestic sources. Total foreign net financing will amount to GH¢21.4 billion (1.5% of GDP).…
Read More
Betting Tax Was Never Implemented Under NPP – Former Finance Minister
12 Mar

Betting Tax Was Never Implemented Under NPP – Former Finance Minister

CUD Wontumi0 CommentsBusiness,
Former Finance Minister Amin Adam has dismissed claims that the New Patriotic Party (NPP) administration implemented the 10% tax on sports betting winnings. His response follows an announcement by current Finance Minister Dr. Cassiel Ato Forson that the government has scrapped the tax while presenting the 2025 Budget Statement and Economic Policy in Parliament on Tuesday, March 11. “We will abolish the 10% withholding tax on winnings from lottery, otherwise known as the ‘Betting Tax’,” Dr. Forson stated. In addition to the betting tax, the government has also removed the E-levy, the COVID-19 tax, and the emission levy. However, addressing…
Read More
Accused Persons Stole €300,000, $410,000, GH¢350,000 From My Storage Room – Cecilia Dapaah
11 Mar

Accused Persons Stole €300,000, $410,000, GH¢350,000 From My Storage Room – Cecilia Dapaah

CUD Wontumi0 CommentsBusiness
The ongoing criminal trial involving the domestic workers of former Minister of Sanitation Cecilia Abena Dapaah and her husband has made significant progress as the former government official appeared at the Accra High Court to take the witness stand and testify. Cecilia Dapaah appeared in court on Tuesday, March 11, 2025, as the third prosecution witness, marking her first appearance since the trial began. She gave her testimony, recounting how her domestic workers stole properties from her residence, myjoyonline.com reports. The politician disclosed that her jewellery worth $53,000 was stolen by the accused individuals, in addition to the cash they…
Read More
BoG Rate: Cedi Buys At 15.5422 To A Dollar, Sells At 15.5578 On Monday
10 Mar

BoG Rate: Cedi Buys At 15.5422 To A Dollar, Sells At 15.5578 On Monday

CUD Wontumi0 CommentsBusiness, ,
Per the rate from the Bank of Ghana (BoG) on Monday, March 10, the Cedi was buying at 15.5422 to a Dollar, and selling at 15.5578. The Pound Sterling was buying at 20.0697 and selling at 20.09 13. The Euro was buying at 16.8639 and selling at 16.8792. The current managers of the economy have indicated their resolve to stabilise the Cedi against the major trading currencies. President John Dramani Mahama told Finance Minister Dr Cassiel Ato Forson that Ghanaians were expecting him to stabilise the Cedi and bring down inflation. Speaking after swearing his minister into office at the…
Read More