Economy and Finance

CalBank’s CEO, Carl Asem, highlighted the bank’s Q3 results as a balanced mix of growth and intentional adjustments.

Notably, government securities have seen a sharp decrease within insurers’ investment portfolios, reflecting the impact of the DDEP.

Also, Professor Quartey noted: “The argument is, will a 24-hour economy bring higher GDP and jobs, or is it rather a goal we should aim for in the long term?”

Together, the E-levy and COVID-19 levy are projected to generate over GH¢5 billion in revenue, with GH¢2.1 billion from the E-levy and GH¢3.172 billion from the COVID-19 levy.

The recommendation aligns with a broader tax reform proposal from New Patriotic Party presidential candidate Dr Mahamudu Bawumia, who advocates a flat-rate tax as a central component of his vision …

According to the bank’s unaudited Q3 2024 financial statements, ADB’s profit after tax also climbed dramatically, hitting GH₵111.827 million compared with GH₵2.040 million for the same period in 2023.

“Our growth prospect remains positive,” Prof Quartey said, adding that Ghana could surpass the IMF’s latest 4% forecast with effective fiscal oversight.

This adjustment suggests a cautious pivot by insurers, responding to the DDEP’s financial impact.

If I want to drive the dollar-cedi rate to GHS 10, I can do that tomorrow.

Absa noted, is its ongoing collaboration with Women in Tech South Africa, through which it proudly sponsors the Philippi Village Learning Centre, empowering women and youth with cutting-edge digital skills.