According to reports released on Friday, the cryptocurrency business Matrixport, run by former Bitmain CEO Jihan Wu, is letting go of 10% of its workforce. Cynthia Wu, COO of Matrixport, attributed the layoffs to a “change in the regulatory climate” and “industry-wide capitulations.” Matrixport Reduces Staff by 10% as […]
Finance
Now that the Ghana cedi has seen a startling comeback versus the US dollar as of mid-December, rising by 63.7 percent, businesses and households can finally breathe a sigh of relief. This is a shocking development because only a few weeks before, the Ghana cedi had been severely devalued […]
Please take note that these rates could vary at a currency bureau close to you. According to the Bank of Ghana’s interbank exchange rates, the Ghana Cedi is now trading against the dollar at a purchasing price of 10.3948 and a selling price of 10.4052 as of today, December 14, […]
Despite several control systems being in place, banking institutions are becoming more and more vulnerable to fraud with time. Nowadays, fraudsters can more easily design their method of operation to get around controls. Both internal (from staff) and external sources could be the source of the fraudsters (customers, suppliers, […]
The debt restructuring conditionality imposed on Ghana, according to Cape Coast University Business School Dean Professor John Gatsi, is a lesson from the IMF (IMF). As part of negotiations with the International Monetary Fund, the government has disclosed the specifics of a domestic debt exchange that will take place […]
According to Ken Ofori-Atta, the finance minister, the government is planning to restructure its debt for GH137 billion. According to the government, it is absolutely necessary for them to exchange some bonds for new ones in the short, medium, and long terms due to Ghana’s high debt levels. “As […]
According to a banking specialist, if the financial managers do not take necessary action, Ghana’s economy could experience a recession. Dr. Richmond Atuahene claims that if conditions don’t line up just so, 2023 will be very challenging due to the nation’s high debt levels, which have forced debt restructuring. […]
According to Finance Minister Ken Ofori-Atta, a number of long-term policies aimed at boosting income production and subsequently solidifying fiscal consolidation should pump an estimated GH8billion into the economy next year. This is 1.35 percent of the updated GDP estimate for 2022 of GH592 billion. This, according to the […]
A court document indicates that cryptocurrency exchange FTX owes its 50 largest creditors close to $3.1 billion (£2.6 billion). The troubled company, which filed for bankruptcy protection in the United States this week, claims to owe approximately $1.45 billion to its top 10 creditors. Confidence in the already unstable […]
Today, November 16, 2022, the Ghana Cedi is trading against the dollar at a purchasing price of 13.0742 and a selling price of 13.0872, according to the Bank of Ghana’s interbank exchange rates. Please take note that these rates could vary at a currency bureau close to you. vs […]