The government has settled about GH¢3.8 billion of its arears in statutory payments as of the end of the fiscal year December 31, last year.
Good evening, and welcome to the Pulse Business Wrap, here are highlights of the stories making he rounds in the world of business today:
The Bank of Ghana is seeking more powers to effectively deal with what it describes as the crisis that has currently hit the microfinance sector.
Outgoing Head of Other Financial Institutions at BoG, Raymond Amanfo says depositors funds will be better protected if the central bank is also empowered to take certain actions in the approval process.
GHC3.8 billion statutory debts settled
Elsewhere, The government has settled about GH¢3.8 billion of its arears in statutory payments as of the end of the fiscal year December 31, last year.
The payments, the first time in many years, are in line with the Government Public Expenditure Management and Arrears Clearance programme as indicated in the 2015 Budget and Economic Policy of the government.
In total, the Ministry of Finance made GH¢3.75 as payments to statutory funds in 2015.
On the currency market
Currency Buying Selling
Dollar 3.79 3. 90
Pound Sterling 5.52 5.53
Euro 4.1 4.40
To the biggest gainers and losers on the Ghana Stock Exchange,
Mechanical Loyd recorded the biggest loss for the day, losing 2 Pesewas on its share price closing at 17p, while Aluworks and Cocoa Processing Company loss a pesewa each to close at 12p and 1p respectively. Meanwhile Enterprise Group and Goil gained 1p each to be the biggest gainers for the day.