Ghana's Bank of Ghana Holds Rate; Visa Expands Payments, GNPC Plans Drilling
- Reports
- 2
- Developments
- 2
- Repetition
- 50%
New informationRepeats or wire copies
What happened
The Bank of Ghana maintained its policy rate at 14 percent, stating that risks to inflation and economic growth are broadly balanced despite renewed global price pressures. Separately, Visa launched a payment partnership in Ghana, and Ghana National Petroleum Corporation is planning exploratory drilling activities.
From thebftonline.com
Why it matters
The Bank of Ghana's rate decision influences the financial environment and cost of credit within Ghana. The expansion of digital payment infrastructure by Visa could increase the volume of traceable transactions in the country.
From thebftonline.com
Who's involved
- Visa Inc.Launched a payment partnership in Ghana.
- GhanaThe country where the payment partnership and drilling plans are taking place.
- Ghana National Petroleum CorporationA state agency planning exploratory drilling activities.
- Bank of GhanaThe central bank of Ghana that held its policy rate at 14 percent.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Bank of GhanaSpeculative
The Bank of Ghana's policy rate could influence the cost of credit for businesses operating in Ghana.
- Ghana Revenue AuthoritySpeculative
Ghana Revenue Authority could see an expansion of its tax collection scope due to increased traceable digital transactions.
How it developed
Newest first. Tap a step to see who reported it.- Concurrent developments in Ghana include the Bank of Ghana's policy decisions, Access Bank's digital services, GNPC's exploratory drilling plans, and the launch of a Visa partnership.Sub-event
New developments include a Visa payment partnership, GNPC drilling plans, and BoG monetary policy targets.1 source
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The entities involved
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Visa Inc.
American multinational financial services corporation
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Ghana
country in West Africa
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Ghana National Petroleum Corporation
Ghanaian state agency
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Bank of Ghana
central bank of Ghana
Related events
- Ghanaian financial institutions, including the Bank of Ghana, are exploring enhanced bilateral trade and payment mechanisms with China.
- The Bank of Ghana operates within the Ghanaian economy.
- The Bank of Ghana and commercial banks are collaborating on the development of investment-linked remittance products.
- The Bank of Ghana manages monetary policy for the country.
- Ghana secures funds for the central bank while the Minister of Finance and military forces coordinate project logistics.