Business

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

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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,…
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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

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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).…
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Betting Tax Was Never Implemented Under NPP – Former Finance Minister
12 Mar

Betting Tax Was Never Implemented Under NPP – Former Finance Minister

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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…
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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

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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…
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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

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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…
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Check Out Bank Of Ghana’s Gold Coin Pricing For Monday March 10
10 Mar

Check Out Bank Of Ghana’s Gold Coin Pricing For Monday March 10

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The Bank of Ghana (BoG) has published the Ghana Gold Coin Pricing for Monday 10 , 2025. Per the BoG publication, the price for one ounce is GH₵47,307.11 . The Bank of Ghana launched its gold coin as an alternative investment asset available to the general public. The previous Governor, Dr Ernest Addison who launched the coin at a press conference in Accra on Friday, September 27 explained that the Ghana gold coin enables the Bank of Ghana to mop up extra liquidity in the banking sector Individuals, he said,  can purchase it in three different ounce options at all…
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Kenyan President’s $150,000 Donation To Church Sparks Clashes
10 Mar

Kenyan President’s $150,000 Donation To Church Sparks Clashes

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Police in Kenya have fired tear gas to disperse protesters who tried to occupy a church that was recently given a substantial donation by President William Ruto. The gift to the Jesus Winner Ministry in the Roysambu suburb of Nairobi of 20m shillings ($155,000; £120,000) drew criticism from some young Kenyans struggling with the high cost of living. Ruto has defended his donation and has offered a similar gift to another church in Eldoret. Last year, both Kenya's Catholic and Anglican leaders rejected donations, arguing that there was a need to protect the church from being used for political purposes.…
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Kenyan President’s $150,000 Donation To Church Sparks Clashes
10 Mar

Kenyan President’s $150,000 Donation To Church Sparks Clashes

CUD Wontumi0 CommentsBusiness
Police in Kenya have fired tear gas to disperse protesters who tried to occupy a church that was recently given a substantial donation by President William Ruto. The gift to the Jesus Winner Ministry in the Roysambu suburb of Nairobi of 20m shillings ($155,000; £120,000) drew criticism from some young Kenyans struggling with the high cost of living. Ruto has defended his donation and has offered a similar gift to another church in Eldoret. Last year, both Kenya's Catholic and Anglican leaders rejected donations, arguing that there was a need to protect the church from being used for political purposes.…
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We Saved The Economy Before Leaving Office – Amin Adam
07 Mar

We Saved The Economy Before Leaving Office – Amin Adam

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Former finance minister Mohammed Amin Adam has defended the economic decisions taken under his administration, stating that despite the difficulties faced by Ghanaians, necessary steps were taken to save the economy before his government left office. Speaking on Good Evening Ghana with Paul Adom-Otchere monitored by MyNewsGH, he emphasized that the reduction in Treasury bill rates was not due to any extraordinary measures by the new administration but rather the natural outcome of policies previously implemented. He pointed out that government bondholders had been paid after a two-year delay, explaining that although the situation was regrettable, sacrifices were needed to…
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Cedi Trades At GH¢15.90 To A Dollar At Forex Bureaus Post Independence Day
07 Mar

Cedi Trades At GH¢15.90 To A Dollar At Forex Bureaus Post Independence Day

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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¢15.51 and a selling price of GH¢15.52 to a dollar. The British pound is being bought at GH¢19.95 and sold at GH¢19.97, while the euro trades at a buying price of GH¢16.68 and a selling price of GH¢16.69. Checks by GhanaWeb Business on March 7, 2025, at 8:00 AM indicate that the cedi is trading at GH¢15.90 to the dollar, while the pound…
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