The latest report on currency performance by Bloomberg has tagged the Ghana Cedi as the worst performing currency in the world after Sri Lanka’s Rupee. The Ghana cedi has depreciated …
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Bank of Ghana dismisses reports about freeze on new dollar accounts
The Bank of Ghana has dismissed reports that it has banned the opening of new dollar accounts in the country. In a public notice, the Central Bank said it had …
- AfricaBusinessNewsTechnology
Koolboks closes $2.5M Seed Round to Scale Solar Refrigeration across Africa
Koolboks, the sustainable cooling company providing accessible cold storage solutions to businesses across Africa, has closed a $2.5M Seed funding round, led by Aruwa Capital Management and with participation from Acumen, Blue Earth Capital, All …
- AfricaAgricultureBusinessEconomyFood ProductionNewsNigeriaWestern Africa
Farm gate purchases: FGN sets up committee to implement ban on foreigners
The federal government of Nigeria has set up an inter-ministerial standing committee to oversee the implementation of a memo on the “Promotion of Agri-Business in Nigeria through Right Farm Gate …
- AfricaAFRICA NEWSBanking, Finance & InvestmentBusinessEconomyNewsNigeriaWestern Africa
CBN Returns Interest Rate On Intervention Loans To 9%
The Central Bank of Nigeria (CBN) has returned the interest rate on all its interventions back to nine percent from five percent a circular that was released by the apex bank …
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Bank of Ghana raises interest rate to 22%, the highest since 2002
The Bank of Ghana (BOG) has increased its monetary policy rate (MPR) from 19 percent to 22 percent in a bid to curb inflationary pressures and halt the depreciation of …
- AfricaAFRICA NEWSBusinessEconomyNewsNigeriaWestern Africa
Customs revenue up by 29% at N1.3trn in six months
The Nigeria Customs Service (NCS) says it generated N1.293 trillion between January and June 2022 as revenue for the federation. This represents a 28.83 percent increase from the N1 trillion generated within …
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Chams plc transitions into a Holding Company
Chams Plc, a fintech and digital payments solutions group, says it has transitioned to a holding company on the Nigerian Exchange (NGX) to increase shareholders’ value. The company said the …
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Emirates shuts down flight operations in Nigeria
Emirates Airlines has announced the suspension of its flight operations to Nigeria effective September 1, 2022. The flag carrier of the United Arab Emirates (UAE) disclosed this in a statement …
- AfricaAFRICA NEWSBusinessEconomyGhanaNewsWestern Africa
Ghana emergency MPC meeting: Goldman Sachs predicts 200bp hike in policy rate
Goldman Sachs, a global investment and research firm, has predicted that the Bank of Ghana (BoG) will raise its policy rate by 200 basis points (bp) on Wednesday when it …