2941 articles published since 30 Jun 2023
Data collated from banks, Specialised Deposit-Taking Institutions and Payment Service Providers indicated that overall, the count of fraud cases increased to 15,865.
Although demand pressure on the Ghana cedi has eased, the local currency continued to depreciate marginally and is currently trading at GH¢16.35 to the dollar.
Some commercial banks in Ghana have begun reintroducing charges on foreign exchange accounts after they suspended these fees under regulatory pressure.
The Ghana cedi has reached an average of GH¢16 to a dollar on the retail market, according to Joy News, sparking some fears of higher-than expected depreciation.
The government raised GH¢810.5 million in revenue from the controversial 1.0 percent Electronic Transactions Levy (E-levy) during the first half of 2024.
The worst may be over for Ghana’s cedi, with analysts expecting it to only weaken modestly between now and elections following steep falls earlier in the year.
The Association of Forex Bureaus says business has slowed down in recent times after the directive to operators to check the Ghana Card before transactions.
Mobile money agents will see increased commissions on large transactions from March 1, 2024. The maximum commissions have been raised to GH¢8 from GH¢4.
Effective March 1, 2024, customers with a minimum account, which initially had a limit of GH¢2,000, have been upgraded to GH¢3,000 for daily transaction limits.
Delali Adogla-Bessa
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