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Global dollar weakness: A window of opportunity for emerging markets like Ghana
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By Kofi Busia KYEI By 2025, the worldwide economic scene is witnessing substantial changes with the U.S. dollar (USD) facing one of its steepest downturns in many years. This period marks roughly a 9% decline from the previous year, making it the worst beginning for the currency since 1989. This devaluation, spurred by a…
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National Australia Bank’s credit losses to remain low
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Its CET1 ratio is expected to rise once it concludes the sale of its stake in MLC Life Insurance. National Australia Bank ’s (NAB) credit losses are anticipated to remain low over the next two years, close to pre-pandemic levels, according to S&P Global Ratings. The Melbourne-headquartered bank reported a 1% increase in cash…
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National Insurance Hike Boosts ‘Cash-in-Hand’ Practices
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The increase in employers’ National Insurance contributions raises the likelihood that companies might opt for undeclared cash payments to employees, according to a study commissioned by the Northern Ireland Executive’s finance department. From April employers have had to pay NI at 15% on salaries above £5,000, up from 13.8% on salaries above £9,100 .…
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Chinese banks’ annual credit loses to average $353b in next two years
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Nonperforming assets and bad debt are expected to rise. Chinese banks ‘ nonperforming assets (NPA) ratio may rise to 6.3% through 2027 as trade disputes weigh on the economy. The US trade policy may result in more bad debt from small companies and unsecured lending, said S&P Global Ratings credit analyst Ming Tan. Tan…
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Mastercard Foundation Initiative Aims to Cut Imports by GH₵200M and Create 326,000 Jobs
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By Elizabeth PUNSU A groundbreaking agricultural program spearheaded by the Mastercard Foundation in collaboration with Agri-Impact Limited aims to decrease the nation’s food import expenses by GH¢200 million. Additionally, this initiative will generate more than 326,000 job opportunities for youth across the country. Dubbed the ‘Fostering Agricultural Productivity and Prosperity for Youth (FAPPY)’ The…
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Experts: Finance Overhaul and ESG Standards Key to Sustainable Industrial Growth
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The country’s potential for sustainable industrialization depends largely on its capability to draw in climate-focused investment and establish Environmental, Social, and Governance (ESG) criteria within institutions, stated financial experts and policy promoters during a top-tier seminar on green financing conducted in Accra. Organized jointly by the Africa-China Centre for Policy and Advisory (ACCPA) and…
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How Financial Institutions Can Catalyze Sustainable Food Systems
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By Samuel OKANG-BOYE Essentially, sustainable agriculture focuses on fulfilling current food and nutrition requirements while also guaranteeing that coming generations will be able to satisfy their own needs. In Ghana, where the population is expected to increase from 33 million to more than 50 million within the next twenty years, swift action is crucial.…
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MTN Sees Robust Growth and Profitability in Q1 2025 Amid Macroeconomic Challenges
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MTN Ghana (Scancom PLC), the nation’s premier telecom service provider, has reported notable financial and operational outcomes for the three-month period ending March 31, 2025. These achievements highlight their robustness despite a difficult economic climate characterized by high inflation rates and depreciation of the local currency. Even with an average inflation rate of 23.0%…
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Investing in Food Systems Will Spark Financial Growth Worldwide
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On May 7, Accra – The Ghana News Agency reports that Mr. Peter Aidoo, an economist and Development Coordination Officer at the UN Resident Coordinator’s Office, has urged for investments in food systems as a means to stimulate economic growth and address the funding shortfall within the nation. He emphasized the importance of consistent…
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Central Bank Launches Gold Accumulation Drive for Foreign Exchange Reserves
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Recently, the Bank of Namibia declared its choice to start accumulating gold as a component of managing its foreign exchange reserves. The decision to incorporate gold, aiming for about 3% of total foreign exchange reserves, mirrors international practices among central banks. This choice underscores the strategic importance of gold as an asset that helps…