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High cost of production threatens housing sector – GREDA

Sammy Amegayibor - Executive Secretary,GREDA

The Ghana Real Estate Developers Association (GREDA) has stated that the industry is facing huge crises due to its unproductive nature. The Association has attributed this to the low patronage as a result of the high costs of properties. According to GREDA, though its members are expected to produce about 70, 000 houses, they only provide a little over a ...

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ADB to save GH¢24m annually from acquiring head office

Daniel Asiedu-  MD of ADB

The Agricultural Development Bank (ADB) has disclosed that its plan to secure where it is currently headquartered, will ultimately save the bank about 24 million cedis annually. ADB’s earlier decision to pay an annual rent of 5 million dollars at its current headquarters in 2015, generated a lot of controversy between the staff and the management. The bank is currently ...

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Producer Price Inflation drops to 4.8% in April 2017

Mr. Baah Wadieh, Acting Government Statistician

Ghana’s producer price inflation for April this year recorded 4.8 percent. This is down from the 6 percent recorded in March this year. This means that the cost of production for industries has seen some stability during the period. The difference between the producer price inflation between March and April this year was negative 1.3 percent. The Acting Government Statistician, ...

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Ghana’s nuclear power project gets major boost

Nuclear power pix

Ghana’s quest to establish the first Nuclear Power Plant in West Africa has received a major boost as the International Atomic Energy Agency presents it findings for the Phase One of the project. Ghana officially started the process to establish a nuclear power plant as part of its energy needs for the industrial use in 2008. Speaking to journalists after ...

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Employers’ Association proposes extension of maternity leave by 2 weeks

Alex Frempong -
 President, Ghana Employers Association

The Ghana Employers’ Association has proposed an extension of the country’s maternity leave from the current 12 weeks to 14 weeks. The call follows moves from various stake holders to have the leave period extended to enable women undertake exclusive breastfeeding as well as recover before resuming work. Speaking to Citi Business News on the matter, the CEO of the ...

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6 concessionaires to start inspection of ECG assets- Ing. Owura

Ing Owura Safo

The Millennium Development Authority(MiDA) has told Citi Business News the authority has engaged the six concessionaires participating in the ECG Private Sector agreement. The six concessionaires who are currently in the country participated in a bidders conference held in Accra yesterday to discuss  the 51 percent stake to be controlled by Ghanaian investors in the  ECG PSP project under the ...

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Chamber of Commerce to critically evaluate 1 factory, 1 district

Mark Badu Aboagye - CEO, Ghana National Chamber of Commerce and Industry (GNCCI)

Private sector businesses have disclosed of plans to closely monitor the implementation of the one district, one factory policy to achieve the intended economic results. Their resolve follows what they say has been the lack of effective monitoring which have resulted in the collapse of past industrialization plans. The CEO of the Ghana National Chamber of Commerce (GNCC), Mark Badu ...

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Stable economy to push down interest rates – PEF

Nana-Osei-Bonsu-620x330

The Private Enterprise Federation has lauded the move by the Bank of Ghana to reduce the MPC rate by 100 basis points although they admit that a further reduction would have had a greater impact on their businesses. The new figure (22.5%), was announced by the Governor, Dr. Ernest Addison after supervising his maiden Monetary Policy Committee(MPC) meeting on Monday, ...

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Poultry industry near collapse over no compensation for bird flu

Poultry

The constant refusal by government to pay debts owed the poultry industry is fast sending the industry to its knees. This is the ‘cry’ of some poultry farmers in the country. The latest brawl to hit the industry is government’s refusal to pay poultry farmers after destroying their birds three years ago due to bird flu attack. Although the farmers ...

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RGD to restrict TIN registration from June

Registrar General Dept

The Registrar General’s Department (RGD) has served notice it will from next month restrict the generation of Tax Identification Numbers (TIN) at its head office in Accra. This the Department says is aimed at reducing both human and vehicular congestion at its premises in Accra. The move is also targeted at achieving the President’s commitment to make Ghana the most ...

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Ghana Business News