GH₵2M Lawsuit Rocks Telecom, Fuel Prices Drop Again, and StanChart Rewards Investors
- asanteyawobed
- Jun 20
- 3 min read
Ghana’s economy continues to present a dynamic mix of falling interest rates, competitive fuel pricing, corporate payouts, and landmark legal developments. The June 20 edition of the Cedi Board® unpacks the week’s top financial shifts, from T-Bill rate drops and fuel wars to legal battles over digital privacy. Here’s what’s shaping the financial landscape:
Treasury Bill Yields Continue Their Decline
The Bank of Ghana has reported a sharp drop in short-term interest rates:
91-day T-Bill: Now at 14.70%, down from 24.87% a year ago
182-day T-Bill: Down to 15.25% from 26.83% in June 2024
These drops, 10.71 and 11.58 percentage points, respectively, signal a major shift in Ghana’s monetary policy outlook. While the lower yields may concern conservative savers, they also open up opportunities for cheaper credit and more capital market activity.
At the same time, the USD/GHS interbank rate remains stable at GH¢10.31, suggesting growing confidence in the cedi despite international pressures.
StanChart Declares GH¢1.67 Dividend Per Share
Standard Chartered Bank Ghana has announced a final dividend of GH¢1.6704 per share for the 2024 financial year, subject to shareholder approval at the upcoming AGM.
Key dates to note:
Ex-dividend date: July 9, 2025
Record date: July 11, 2025
Dividend payment: July 31, 2025
Investors who purchase StanChart shares before July 9 will qualify. This payout reaffirms StanChart’s profitability and shareholder value strategy amid a competitive financial sector.
Petrol Prices Slide Again Amid Ongoing Price War
Fuel prices have dropped for the second time this week, thanks to intensified competition among Oil Marketing Companies (OMCs).
Star Oil cut petrol from GH¢10.99 to GH¢10.80, and diesel from GH¢12.77 to GH¢12.13
Allied Oil and Zen Petroleum are now selling petrol at GH¢10.75 per litre.
This fierce pricing battle is partly a result of the 2015 price deregulation policy, which aimed to let market competition dictate fuel costs.
But there’s a cautionary note: some OMCs warn that global oil prices, which have surged from $66 to $76 per barrel due to ongoing Middle East tensions, may reverse this trend. A stronger cedi could cushion consumers if it continues appreciating.
Makola Market Onion Seller Sues Telecel for GH¢2 Million Over Image Rights
In a case gaining national attention, Faustina Djagbele Abbey, a Makola Market onion seller, has filed a GH¢2 million lawsuit against Telecel Ghana.
Her claim? The telecom giant used her image without consent in advertising its ‘Telecel Red Save’ product.
Abbey’s suit, filed May 23, 2025, alleges that her privacy was violated and that the ad campaign led to emotional distress and public misconceptions about her wealth.
She’s demanding:
Immediate removal of all promotional materials featuring her likeness
Compensation for emotional harm and invasion of privacy
This case is expected to test Ghana’s Data Protection Act (Act 843) and could redefine corporate responsibility in digital advertising. With Telecel holding a 17.2% market share, the outcome could set a precedent for how image rights are respected in Ghana’s evolving digital economy.
Investor’s Insight: Why You May Want to Consider Fixed Deposits
In today’s low-rate climate, fixed deposits (also called term deposits) still offer predictable income for risk-averse investors.
With guaranteed interest over 3, 6, or 12 months, they offer a haven amid uncertain markets.
For instance, investing GH¢1,000 at a 15% rate for one year yields GH¢1,150, a tidy return with no market risk.
Fixed deposits are especially appealing now that T-Bill rates have dropped, offering a simpler way to earn stable returns while protecting capital.
Stay tuned to the Cedi Board® for real-time updates on Ghana’s financial pulse. From prices and policy to investment tips that help you make sense of the numbers.
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