Browsing: News

The Government of Ghana has reaffirmed its commitment to settle an outstanding USD111 million judgment debt owed to oil giant Trafigura, following concerns about delayed payments raised on social media.

“The current situation is extremely disappointing as the IPGs played a major role in working with the government to support its necessary restructuring of the country’s indebtedness in order to qualify for the IMF loans,” continued the letter.

Ghana’s cocoa bean export value has seen a sharp decline, dropping 26.9% in the second quarter of 2024, according to data from the Ghana Statistical Service.

Although, not directly related to credit risk, but a worrying trend in the banking sector is total monetary value lost to fraud.

“A lot remains to be done to promote a more resilient banking industry”, Dr Ernest Addison said when addressing the annual general meeting of the Ghana Association of Banks last week in Accra.

With recent geopolitical events highlighting the vulnerabilities of global energy supply chains, Africa is attracting increasing attention as…

According to the PURC, the revised guidelines mandated ECG to make monthly payments to stakeholders based on a model intended to ensure transparency and fairness in revenue distribution.

The Bank of Ghana also saw significant improvement in the quality of data submitted to credit bureaux and improvement in the submission of data relating to digital loans.

The report noted that the month of December 2023 saw the highest loss value for the year 2023

“The growing fiscal burden imposed on the economy by ECG’s poor performance has become a ticking time bomb that can undermine the progress made after the domestic and international debt restructuring to keep Ghana solvent.”