Author: Diella Teku

Ghana’s gold production is poised for a significant increase in 2025, with the Ghana Chamber of Mines projecting a 6.25 per cent growth to approximately 5.1 million ounces. This upward trend is driven largely by increased production from artisanal and small-scale mining (ASM) operations and the entry of new large-scale mines, which have collectively offset declining output from mature assets. According to the chamber’s latest annual report, gold output surged by 19.3 per cent in 2024, solidifying Ghana’s position as Africa’s top gold producer, ahead of South Africa and Mali. The report forecasts gold output to range between 4.4 and…

Oando PLC, Africa’s leading integrated energy company listed on both the Nigerian Exchange Group (NGX) and Johannesburg Stock Exchange (JSE), posted robust Audited Full Year (FY) 2024 financial results with a 44% increase in revenue to N4.1trillion compared to N2.9 trillion in FY 2023. In the upstream, Oando’s production witnessed a 3% increase to 23,727 boepd; made up of crude oil production which increased by 27% to 7,558 bopd, while NGL production and gas decreased respectively by 35% to 156 bpd, and 5% to 16,013 boepd. The company’s 2P reserves grew 95% year-on-year to 983 MMboe (2023: 505 MMboe), representing…

The Finance Minister, Dr. Cassiel Ato Forson, has assured Parliament that the Ghanaian Cedi will remain stable against major foreign currencies. He stated that foreign exchange earnings from the Ghana Gold Board will be directed to the Bank of Ghana (BoG) to strengthen reserves and support the currency. Dr. Forson reaffirmed his commitment to ensuring currency stability, reducing prices, and creating jobs as part of the government’s economic agenda. Speaking during the debate on the Energy Sector Levy Amendment Bill, 2025, in Parliament on Wednesday, June 4, Ato Forson said, “I want to assure the people of Ghana that the…

United Arab Bank PJSC (UAB), listed on the Abu Dhabi Securities Exchange (ADX) announced that it proposes to increase its issued share capital by an amount up to AED1,031,275,325 (one billion thirty-one million two hundred seventy-five thousand three hundred twenty-five dirhams) from AED2,062,550,649 (two billion sixty-two million five hundred fifty thousand six hundred forty-nine dirhams) up to AED3,093,825,974 (three billion ninety-three million eight hundred twenty-five thousand nine hundred seventy-four dirhams) by way of the Rights Issue offered to the existing shareholders of the Bank. Further, United Arab Bank has published an invitation to its shareholders (the “Invitation”) to subscribe for…

The UAE’s banking sector recorded a sharp rise in domestic fund transfers in the first two months of 2025, with total transaction values reaching AED3.4 trillion, marking a 15.5 percent increase compared to the same period last year, according to data released by the Central Bank of the UAE (CBUAE). Bank-driven transfers led the surge, amounting to AED2.093 trillion in January and February combined. January accounted for AED1.1 trillion, while February saw AED983.99 billion in transactions. Transfers by customers and institutions also showed strong momentum, totaling AED1.327 trillion over the two-month period. Cheque usage remained robust, with 3.875 million cheques processed…

Oando PLC, Nigeria’s leading indigenous energy solutions company with primary and secondary listings on the Nigerian and Johannesburg Stock Exchanges, today announced the successful upsizing of its Reserve Based Lending (RBL2) facility to $375 million. The refinancing, led by the African Export-Import Bank (Afreximbank) with the support of Mercuria, extends the final maturity date of the facility to January 30, 2029. In recent years, financing arrangements for the acquisition, development, and operation of oil and gas assets have commonly been structured as Reserve-Based Loans (RBLs). Under this model, the amount a borrower, in this instance Oando, can access is directly…

The naira on Wednesday climbed to a two-month high of N1,565.46 per dollar at the official foreign exchange (FX) market, maintaining a trajectory of relative stability that has persisted in recent months. The last time the local currency traded near this level was on April 4, 2024, when the dollar exchanged at N1,567.02 in the Nigerian Foreign Exchange Market (NFEM), according to data published by the Central Bank of Nigeria (CBN). By the close of trading on Wednesday, the naira had appreciated by N13.82 against the dollar, with the greenback quoted at N1,565.46. This represents a 0.9% gain when compared…

The Government of Ghana and the Government of Japan have signed a grant agreement valued at ¥402 million under the Japanese Grant Aid for the Human Resource Development Scholarship (JDS) Programme. The signing ceremony, held at the Ministry of Finance in Accra, marks the launch of the third batch of the fourth phase of the programme. Speaking at the event, Finance Minister Dr. Cassiel Ato Forson expressed Ghana’s appreciation to the Government and People of Japan for their consistent support. He noted that the programme aligns with Ghana’s ongoing efforts to strengthen institutional capacity and build a resilient, knowledge-driven public…

BitGo, a leading digital asset infrastructure provider, has launched its Crypto-as-a-Service (CaaS) platform, enabling financial institutions, FinTechs, and enterprises to seamlessly integrate crypto functionality into their products. This platform simplifies the process of offering crypto trading, transfers, and staking, ensuring high standards of security and regulatory compliance. Simplified integration The CaaS platform leverages BitGo’s secure wallet infrastructure, modular APIs, and regulatory licensing, allowing businesses to build and scale digital asset products quickly. With minimal friction, organizations can now tap into BitGo’s trusted platform to offer crypto services to their customers. Mike Belshe, CEO of BitGo, emphasized, “We’ve made it easier…

Finance Minister Dr. Cassiel Ato Forson has disclosed that Ghana earned over $1.1 billion in foreign exchange during the first full month of operations under the Goldbod gold purchase programme. The inflow, generated from the purchase and export of more than 11 tonnes of gold, marks a major milestone in the country’s efforts to stabilise the cedi and enhance local participation in the gold trade. Dr. Forson made the announcement during the inauguration of the new Board of Directors of the Minerals Income Investment Fund (MIIF) in Accra. He urged the new board to build on the gains made through…