Close Menu
    Trending
    • Edmund Baidoo provides an assist in Red Bull Salzburg’s draw with Ried
    • Ace Ankomah moves to enforce GH¢2.95m defamation judgment against Kevin Taylor
    • Saanie Daara backs proposal to extend GFA presidential term limit, advocates 4 terms
    • Petrol price to go up; diesel and LGP to fall from August 1, 2025
    • Volta Region’s unwavering support for Mahama rooted in experience, promise, and proven leadership – Regional Minister
    • Sannie Daara proposes four terms for GFA President as he welcomes extension from Review Committee
    • Man Utd striker Hojlund available for £30m
    • Ghana must broaden bond market to withstand external shocks – Economist advises
    zamzamupdate.com/ News on the GO
    • Home
    • Ghana News
    • News Updates
    • Sports
    • Business
    • Politics
    • Entertainment
    zamzamupdate.com/ News on the GO
    Home»Ghana News»All government contracts to be awarded in only Ghana cedis – Finance minister
    Ghana News

    All government contracts to be awarded in only Ghana cedis – Finance minister

    ZamZam UpdateBy ZamZam UpdateJuly 24, 2025No Comments3 Mins Read
    Share Facebook Twitter Pinterest LinkedIn Tumblr Reddit Telegram Email
    Share
    Facebook Twitter LinkedIn Pinterest Email


    The Minister for Finance, Dr Cassiel Ato Forson, has introduced that each one authorities contracts will henceforth be awarded solely in Ghana cedis, efficient instantly. This implies contracts will now not be denominated in {dollars} or some other overseas foreign money.

    Dr Forson defined that the follow of awarding contracts and pricing items and providers in foreign exchange presents a major danger to fiscal administration, with opposed implications for the steadiness of the Ghana cedi.

    Presenting the mid-year finances assertion to Parliament on Thursday, 24 July, the Finance Minister expressed concern over the rising use of foreign exchange in enterprise transactions throughout the nation.

    ALSO READ: Minority stages walkout ahead of mid-year budget review presentation

    Beneficial For You

    News
    2025-07-24T15:53:39+00:00

    We inherited a bleeding energy sector with annual shortfalls over $1.5 billion – Ato Forson

    Entertainment
    2025-07-24T10:44:21+00:00

    Go to hell, your defamation suit will fail – Afia Schwarzenegger fires back at Sammy Gyamfi

    Go to hell, your defamation suit will fail – Afia Schwarzenegger fires back at Sammy Gyamfi
    Entertainment
    2025-07-23T12:36:32+00:00

    Asiamah reveals what jailed wife, Agradaa, told him when he visited her at Nsawam Prison

    Nana Agradaa ties the Knot with junior pastor Asiamah
    All government contracts to be awarded in only Ghana cedis – Finance minister

    Sadly, foreign exchange have gotten the technique of transacting enterprise in Ghana. This development, if not checked, will erode confidence in our foreign money, gasoline inflation and diminish the worth of our sovereign image.

    Dr Forson introduced that President John Dramani Mahama has issued a directive for the rapid cessation of all authorities contracts in overseas foreign money. He added:

    To curb this unlucky growth, President John Dramani Mahama has directed that, starting at the moment, 24 July 2025, no contract awarded by authorities, whatever the funding supply, ought to be denominated in overseas foreign money.

    He additionally reminded the general public of their obligation to adjust to the International Change Act, 2006 (Act 723), which prohibits pricing, promoting, receipting or making funds in overseas foreign money inside Ghana with out prior approval from the Financial institution of Ghana.

    ALSO READ: Roads minister urges cement manufacturers to slash prices from GH¢120

    All government contracts to be awarded in only Ghana cedis – Finance minister

    The Minister emphasised:

    Corporations, establishments and people are prohibited from pricing, promoting, receipting or making fee for items and providers in foreign exchange in Ghana with out prior written approval from the Financial institution of Ghana.

    ALSO READ: Supreme Court quashes lower court orders, affirms King Teiko Tsuru II as Ga Mantse

    As well as, Dr Forson famous that wage pressures proceed to pose a problem to the 2025 fiscal framework, attributing the pressure to last-minute recruitments carried out by the earlier administration. He revealed that wages and salaries had exceeded targets by GHC 1.3 billion within the first half of the 12 months.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleMinority stages walkout ahead of mid-year budget review presentation
    Next Article Government approves 32 road projects under big push programme
    ZamZam Update
    • Website

    Related Posts

    Ghana News

    Ace Ankomah moves to enforce GH¢2.95m defamation judgment against Kevin Taylor

    August 3, 2025
    Ghana News

    Sannie Daara proposes four terms for GFA President as he welcomes extension from Review Committee

    August 3, 2025
    Ghana News

    PUSAG backs GTEC’s crackdown on unaccredited tertiary institutions

    August 3, 2025
    Add A Comment
    Leave A Reply Cancel Reply

    Top Posts

    Afua Asantewaa Is Ohio Ghana Festival Special Guest

    March 15, 2025

    First commercial paper admission on GSE scheduled for April 17, 2025

    April 12, 2025

    Govt urges teachers to accept rural postings nationwide

    July 16, 2025

    Zugraan Bawku Naba II urges peace and harmony during Eid celebrations

    April 1, 2025

    6 habits that secretly kill relationships without you realising

    May 5, 2025
    Categories
    • Business
    • Entertainment
    • Ghana News
    • News Updates
    • Politics
    • Sports
    Most Popular

    Edmund Baidoo provides an assist in Red Bull Salzburg’s draw with Ried

    August 3, 2025

    GBA Bartenders Masterclass returns to redefine mixology in Ghana

    February 2, 2025

    Breaking News: Unknown person stabbed Asante Kotoko diehard supporter Pooley to death

    February 2, 2025
    Our Picks

    Top 10 African universities with the most respected certificates

    July 10, 2025

    South Africa is leading the call for responsible gambling in African countries

    May 14, 2025

    CSIR-CRI scientists target malnutrition and food security with new climate-smart beans varieties

    August 2, 2025
    Categories
    • Business
    • Entertainment
    • Ghana News
    • News Updates
    • Politics
    • Sports
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • About us
    • Contact us
    Copyright © 2025 Zamzamupdate.com All Rights Reserved.

    Type above and press Enter to search. Press Esc to cancel.