Nii Lartey

6 days ago | citinewsroom.com | Nii Lartey

Fitch Solutions has adjusted its end-2025 forecast for the Ghanaian cedi, revising it to GHS13.0/USD, from an earlier estimate of GHS15.5/USD, following a notable appreciation of the local currency in recent weeks. According to the economic research firm, the cedi has strengthened by 30% between late April and May 2025, primarily driven by higher global gold prices. Consequently, Fitch now expects the currency to appreciate by 12.9% in 2025, up from its end-2024 level of GHS14.7/USD.

6 days ago | citinewsroom.com | Nii Lartey

The cedi is expected to maintain its relative stability in the coming weeks, buoyed by the anticipated release of $370 million from the International Monetary Fund (IMF) later this month. The disbursement, which marks the fifth tranche under Ghana’s $3 billion Extended Credit Facility, is subject to the approval of the IMF Executive Board when it convenes on June 3.

6 days ago | citinewsroom.com | Nii Lartey

Ever wondered why you are paying more for forex than the rates the Bank of Ghana (BoG) publishes? The answer simply lies in how foreign exchange works in practice. Per the Bank of Ghana’s official figures, the cedi closed trading last week at GH₵10.28 to the US dollar, GH₵13.86 to the British pound, and GH₵11.67 to the euro. But for those who sourced foreign currency from retail channels like banks and forex bureaux, it was costlier in that same period.

6 days ago | citinewsroom.com | Nii Lartey

The 2025 edition of the Citi Business Festival officially begins today, Monday June 2, 2025. This marks the start of a month-long campaign designed to equip entrepreneurs, professionals and SMEs with strategic tools and insights for business growth, resilience and innovation. Organised by 97. 3 Citi FM and Channel One TV, this year’s edition is set to deliver a rich blend of forums, clinics, and bootcamps under four thematic weeks: Personal Finance, Agribusiness, SME Development and Tech Startups.

1 week ago | citinewsroom.com | Nii Lartey

Two major oil producers in Ghana, ENI Ghana and Tullow Ghana Limited have resumed drilling operations in the Jubilee and Offshore Cape Three Points (OCTP) Fields respectively. This is asignificant move toward revamping the upstream petroleum sector. The two latest drilling programmes have been approved by the Ministry of Energy and the Petroleum Commission to sustain oil output and boost investor confidence following a period of subdued activity.