Here is a recap of trending business stories

In the world of business and financial news this week, these were the stories that took centre-stage.

The Minority in Parliament has given the Governor of the Bank of Ghana, Dr. Ernest Addison, a 21-day ultimatum to resign.

According to them, the governor and his deputies must resign.

During a press briefing on August 8, 2022, the Minority Leader, Dr. Cassiel Ato Forson, said the governor had been found culpable of various breaches in the Bank of Ghana Act.

The Bank of Ghana (BoG) incurred a loss of GH¢60.8 billion from its audited financial statement for the 2022 fiscal year. This loss according to the BoG is largely due to the government’s debt restructuring activities.

Speaking on GBC’s Talking Point programme, the Finance Minister affirmed the claims made by the central bank.

“You can call it a sort of technical loss. It is not monies that were given that will never be paid”, he said.

Finance Minister, Ken Ofori-Atta, has admitted that renewed calls for his dismissal were justified especially within the framework of Ghana’s democracy.

According to him, individuals, including members of his party [New Patriotic Party] and the public had the right demand for his removal over the turbulent economic challenges that plagued Ghana, particularly in 2022.

Ghana’s inflation for July 2023 has increased to 43.1% from 42.3% in June this year.

This means that the cost of goods and services has increased by 43% over the period.

The Bank of Ghana (BoG) has confirmed that it is in the process of building a new headquarters in Ridge, a suburb of Accra.

The initial allegation of the new structure was made public by the National Democratic Congress (NDC) and the Minority in Parliament at a press conference earlier this week.

The Social Security and National Insurance Trust (SSNIT) has said the new terms of the Domestic Debt Exchange Programme (DDEP) offered by government was better than the previous one.

According to the Director-General of SSNIT, Dr John Ofori Tenkorang, the Trust will fully participate in the government’s alternative Domestic Debt Exchange Programme including pension funds.

He noted that the move will however not affect its payment of pensions to beneficiaries.

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