Kofi Ahovi

  The Bank of Ghana (BoG) has raised concerns about Ghana’s external position, saying declining foreign exchange reserves and a weaker current account could limit the room available for monetary policy in the months ahead. The country’s gross international reserves had fallen to US$11.07 billion, equivalent to 4.2 months of import cover from US$11.43 billion at the end of July 2026.. Speaking at the opening of the 132nd Monetary Policy Committee meeting in Accra on Wednesday, September 23, 2026, Governor of the Bank of Ghana, Dr. Johnson Pandit Asiama, said said the situation required the Bank to prioritise rebuilding its foreign exchange reserves as Ghana approaches the final quarter of the year, when demand for foreign currency typically increases. Rebuilding net foreign assets must therefore remain the priority heading into the fourth quarter,” Dr. Asiama emphazied. Current account under pressure The Governor said Ghana’s external position had weakened partly because gold shipme...

  By Goodnews Dzramedo Finance, Supply Chain and Total Rewards Professional Executive Summary The Income Tax (Amendment) Act, 2026 (Act 1178) provides targeted relief to individual taxpayers and broadens access to Ghana’s presumptive tax regime for small businesses. The Act increases the annual tax-free threshold for resident individuals from GH¢5,880 to GH¢7,056 and raises the presumptive tax turnover threshold from GH¢500,000 to GH¢750,000. These changes are expected to improve disposable income, reduce compliance pressure for qualifying SMEs, and support a simpler tax administration framework. Key Takeaways The tax-free threshold has increased by 20%, providing relief to all resident individual taxpayers. Minimum wage earners are effectively removed from the personal income tax net. The top marginal tax rate remains 35% for annual income above GH¢600,000. More SMEs may now qualify for the 3% presumptive tax regime because the turnover threshold has increased to GH¢750,000. Small...

  The Bank of Ghana (BoG) has warned that rising global oil prices, driven by the prolonged conflict in the Middle East, could put renewed pressure on inflation and economic activity in Ghana. Governor of the Bank of Ghana, Dr. Johnson Pandit Asiama, speaking at the opening of the 132nd MPC meeting in Accra, said Brent crude oil prices had risen to about US$107 per barrel from more than US$85 per barrel when the Monetary Policy Committee (MPC) last met in July. He said the increase was occurring amid disruptions to global trade and oil supply, while lower global oil inventories were leaving markets with less capacity to absorb further supply shocks. Brent crude, which was above US$85 per barrel when the Committee last met, rose to about US$107 per barrel last week, its highest level in four months,” Dr. Asiama said. He further added that “the conflict’s trajectory has become highly uncertain, and risks to global growth and inflation have become more pronounced,” he added. Inflation...

  The Ghana Revenue Authority (GRA) is targeting a reduction in the country’s Value Added Tax (VAT) gap from the current 60% to about 30% by the end of 2028 as part of efforts to improve tax compliance and increase domestic revenue mobilisation. Commissioner for the Domestic Tax Revenue Division of the GRA, Dr. Martin Kolbil Yamborigya, said the target formed part of the Authority’s VAT Strategic Plan, which focuses on closing compliance gaps and improving VAT collections. According to our VAT Strategic Plan, we are hoping that between now and the end of 2028 we should be able to close this gap from the current 60% to about 30%,” he said. Dr. Yamborigya disclosed this when he spoke to the media on the sidelines of the launch of the GRA’s VAT Compliance Campaign, following compliance visits to selected businesses at the Accra Mall. He explained that reducing the VAT gap would require the Authority to improve collections from the existing tax base by ensuring that businesses and indi...

  The newly invested Vice Chancellor of the University of Cape Coast, Professor Denis Worlanyo Aheto, has paid a courtesy call on the Management of Prudential Bank LTD. led by its Acting Managing Director, Ebow Quayson. The meeting provided a platform for both institutions to reflect on their shared history and discuss ways to strengthen their partnership for mutual benefit. Discussions touched on student financial services, educational support, and initiatives that promote academic excellence and community development. Welcoming the Vice Chancellor, Quayson expressed delight at the visit and reaffirmed the Bank's commitment to supporting the University's vision. We congratulate you on your appointment. The University of Cape Coast has been a valued partner over the years, and this visit reinforces our shared devotion to education and national development. As a Bank, we believe that investing in education is investing in the future of Ghana, and we will continue to explore ways...

 By Kofi Ahovi For a journalist covering Ghana’s emerging nuclear power programme, a complicated technical report can arrive just hours before deadline. It may contain unfamiliar terms, technical measurements, regulatory language and hundreds of pages of data. At the same time, an interview recording may need to be transcribed, an expert may need to be researched and a social media claim about radiation may already be spreading. Artificial Intelligence (AI) can make much of this work faster. AI tool can summarise the report within seconds, explain difficult terms in simpler language and even suggest questions for an interview. For a busy journalist, the attraction is obvious. But there is a catch. The information may sound convincing and still be wrong. That is particularly important in nuclear reporting, where a misplaced decimal, an incorrect unit or a misunderstood technical term can change the meaning of a story and potentially affect how members of the public respond to a situ...