French authorities are looking into Binance, the biggest cryptocurrency exchange in the world, according to French media sources.   The focus of the probe is on its anti-money laundering policies. It comes following the company’s declaration that it was leaving the Netherlands after trying unsuccessfully to get a license from […]

Ghanaians have been warned by the Central Bank not to borrow money from 19 unauthorised institutions. On August 22, 2022, it issued a statement that read, “The Bank of Ghana has noted that certain unlicensed organisations are giving loans to Ghanaians in violation of the 2016 Banks and Specialized Deposit-Taking […]

On December 4, 2022, Minister of Finance Ken Ofori-Atta announced a Domestic Debt Exchange, with the understanding that specifics of the aforementioned programme will be revealed today, December 5. In his four-minute speech, he made three main points, one of which was, “There will be NO haircut on the principal […]

According to the 2023 budget statement from the Ministry of Finance, Ken Ofori-Atta, Ghana’s national debt has increased by GH93 billion ($6.53 billion at the current exchange rate) since the start of 2022 due to the depreciation of the Ghanaian cedi alone.   The depreciation of the Ghanaian cedi alone […]

Despite the ongoing depreciation of the Cedi, Finance Minister Ken Ofori-Atta has reassured Ghanaians that the country’s economy is doing well. Speaking to an Asaase Radio journalist in Accra from Washington, where he is in charge of a team negotiating with the IMF, the Minister called the devaluation rate “perplexing.” […]