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Court of Appeal restores license of GN Savings and Loans

  The Court of Appeal has by a unanimous decision restored the license of GN Savings and Loans Company Limited.  That was after a three-member panel of the second-highest court quashed the decision of the High Court, which upheld the revocation of the license on the grounds that the decision to revoke the license was unfair and unreasonable. By the judgment, both the decision to revoke the license and the High Court decision to uphold same has been quashed. The court ordered the receiver should also hand over possession, management and control of the assets and other activities to shareholders of the company. Background  On January 4, 2019, GN Bank Limited was reclassified as a savings and loans company and consequently renamed GN Savings and Loans Company Limited. Seven months later, on August 16, 2019, the BoG, then under the leadership of Dr Ernest Addison, revoked the operating licence of GN Savings and Loans Company Limited and appointed Eric Nana Nipah as Receiver a...
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Charles Amissah’s family sues 3 hospitals, doctors and AG, seeks GH¢20m compensation

  A medical doctor and the sister of the late engineer Charles Henry Amissah has initiated legal action against three major hospitals, several health professionals, and the Attorney General. She is alleging a series of negligent acts that she says led to her brother’s death following a road traffic accident in Accra. Dr. Matilda Amissah, acting as administratrix of her brother’s estate, is seeking GH¢20 million in general damages at the High Court in Accra. The case concerns a February 2026 incident that reignited public concern about Ghana’s recurring “No Bed Syndrome” in emergency healthcare delivery. The writ names the Ghana Police Hospital, the Greater Accra Regional Hospital, the Korle-Bu Teaching Hospital, some doctors and nurses, and the Attorney General’s Department. According to court documents, the deceased, a 29-year-old Electronic and Automation Engineer with Promasidor Ghana Limited, was involved in a hit-and-run accident on the Kwame Nkrumah Circle Overpass on Februar...

Gov’t seeks to buy 30% of gold from miners to boost BoG reserves

  Ghana has asked large-scale gold miners to sell 30% of annual output to the central bank as part of a revamped reserve-building drive, up from 20%, a senior official told Reuters, though miners say key commercial terms remain unresolved. Central banks globally are increasingly stockpiling bullion as soaring prices boost its appeal as a reserve asset. Ghana, Africa’s top gold producer, launched its bullion purchase programme in 2022, later securing an agreement with miners through the Ghana Chamber of ⁠Mines to supply 20% of annual output to the bank of Ghana (BoG). Gold reserves climbed to 19.2 metric tons in February, Bank of Ghana data showed, helping stabilise the Ghanaian cedi and rebuild external buffers as the economy recovers from its worst crisis in a generation. The government revamped the programme in February, targeting up to 157 tons (15 months of import cover) by 2028. This time, we intend to negotiate for 30% of annual production [from industrial miners] … with the ...

Ghana’s economy still resilient despite difficult external environment – BoG

 The Bank of Ghana Governor, Dr. Johnson Asiama, has stated that Ghana’s economy is still showing signs of resilience despite a difficult external environment. According to him, the overall picture since end-March 2026 is one of a domestically resilient economy navigating an increasingly difficult external environment — with the energy price shock from the Middle East conflict now the central risk shaping the near-term outlook. He disclosed this at the opening of 130 th  Monetary Policy Committee Meeting. The Governor noted that despite these gains, early signs point to re-acceleration of headline inflation in several advanced and emerging market economies, prompting several central banks that had commenced easing cycles to pause or reverse course. For a commodity-exporting, energy-importing economy such as Ghana, he said the transmission channels of this external shock are multiple and material — through fuel prices, transportation costs, import bills, and ultimately consumer...

Current account surplus: quarter one 2026 exceeds 2025 period by US$652m

  The Bank of Ghana Governor Dr. Johnson Asiama has disclosed that Ghana’s current account surplus for the first quarter of this year exceeded the same period in 2025 by US$652 million. According to him, these are signs that Ghana’s economy is still evolving and continues to undergo economic and structural changes. He disclosed this at the opening of the Monetary Policy Committee Meeting today May 18, 2026, at the Bank Square. According to him, the successful resumption of domestic treasury bond issuance earlier in 2026 signals a return of investor confidence. Government has also successfully issued a 7-year bond instrument, and steps are being taken to lengthen the maturity profile of existing GoG instruments”, the Governor stated. According to him, all these developments show that the domestic economy is evolving and continues to undergo economic and structural changes. MPC Meeting and Risk to Decision Speaking at the meeting, the Governor said there are number of risks in the ou...

Mining sector delivers over GH₵2bn in royalties for quarter one 2026 – MIIF

  Ghana’s mineral royalty receipts recorded a significant increase in the first quarter of 2026, with total inflows rising to more than GH₵2 billion, according to new data by the Minerals Income and Investment Fund (MIIF). The latest data reflects continued resilience in the country’s mining sector, largely driven by strong performance in the large-scale and mid-tier gold mining segments. The quarter one performance also signals a positive outlook for the year, following the Fund’s historic achievement of crossing GH₵5 billion in royalty receipts in 2025, the first time such a milestone has been recorded in the history of the Fund. The figures show that total mineral royalties increased from GH₵1.43 billion in the first quarter of 2025 to GH₵2.01 billion in the corresponding period of 2026, representing a 40 per cent increase in revenue mobilisation. The actual collections also exceeded MIIF’s first quarter 2026 forecast of GH₵1.57 billion by 28%. Large-scale Gold Mining Remains Bi...

Damang Gold Mine sells another 100% of its gold output to GoldBod

  In a significant boost to the state's domestic mineral retention strategy, the Damang Gold Mine has successfully traded its second consecutive haul of refined bullion to the Ghana Gold Board (GoldBod), representing 100 per cent of its total operational output. The latest transaction, valued at 121 kilogrammes of gold (approximately 3,400 ounces), was processed at the GoldBod Assay Laboratory in Accra on Monday, 18 May 2026. This latest delivery marks an upgrade from the company’s inaugural transaction with the national regulator, which stood at 103 kilogrammes, solidifying Damang's position as the leading corporate supporter of the state's local gold-purchase framework. Receiving the precious minerals for testing and storage, the Technical Director of GoldBod, Michael Arko, highly commended the management of Damang Gold Mine and its parent company, Engineers and Planners, a wholly Ghanaian-owned conglomerate, for demonstrating unparalleled confidence in the government’s n...