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Fuel prices to increase between 3 and 5%

Fuel pump nozzles are pictured at Helios petrol station in Almaty

Prices of fuel are expected to go up by between three and five percent for the second pricing window in January. The second pricing window period spans from Tuesday, January 16, 2018 till the end of the month. According to the Institute of Energy Security (IES), the development can be attributed to the increase in crude oil prices, performance of ...

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Poultry farmers bemoan ‘neglect’ in planting for food & jobs 


The Poultry Farmers Association of Ghana has criticized government for failing to make the main ingredients for production of poultry feed accessible. This, they say is a major challenge to the industry. Government introduced the Planting for Food and Jobs program to among others provide feed to boost poultry production in Ghana. But the poultry farmers say they are yet to ...

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Changes in US interest rate structure to impact Eurobond  

Economist Dr. Lord Mensah

The US’ decision to adjust its interest rates structure is likely to affect the coupon rate that Ghana may issue its Eurobond this year—that is a caution from economist Dr. Lord Mensah. According to him, investors will weigh the benefit of giving their funds to Ghana as against investing in the US for better returns. The Finance Minister, Ken Ofori-Atta ...

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Industry’s significant growth still triggered by oil sector

Nana-Akufo-Addo-in Parliament-620x330

Citi Business News’ checks have shown that industry’s growth as has been touted by the government have been largely influenced by the oil sector. A development, some Economists also believe could have serious implications on the economy considering the exhaustive nature of the country’s oil resources. The revelation follows President Akufo Addo’s claims that industry has seen phenomenal growth. Speaking ...

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Why gov’t missed 2017 inflation target [audio]

Mr. Baah Wadieh, Deputy Government Statistician

Government in 2017 missed its end of year inflation target of 11.2 percent. Official figures from the Ghana Statistical Service show that the country ended the year with an inflation rate of 11.8 percent. But what have been the inflation trends for 2017 and how will it pan out this year? In this report, Citi Business News examines the phenomena ...

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Analysts demand clarity over ExxonMobil agreement

Dr. Steve Manteaw

Some energy sector analysts want government to come clear with the decision regarding direct negotiations with ExxonMobil over the latter’s preparations to start operations in Ghana’s oil industry. They argue that the seeming failure by the Energy Minister to resort to an open bidding process to select ExxonMobil, requires further scrutiny of the deal. The concern comes with some three ...

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Drivers dismiss Uber rebranding reports      


The Ghana Road Transport Co-ordinating Council (GRTCC), has dismissed reports of a purported meeting with the Transport Ministry where driver unions have called for Uber cars to be rebranded into normal taxis operating in the country. Reports of the said meeting and the drivers’ appeal dominated social media over the weekend attracting mixed reactions from Ghanaians. Commercial taxi drivers have ...

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Regulator sanctions illegal courier service operators


The Postal and Courier Services Regulatory Commission (PCSRC) has warned that courier service companies who have not yet registered their operations with the Commission, risk prosecution by the end of February 2018 if they fail to do so. The caution follows what the Commission describes as the flooding of the industry by non-conforming operators. A development, some have also cited ...

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GPRTU, Transport Ministry to deliberate on new transport fares  


The Ghana Private Roads and Transport Union [GPRTU] has told Citi Business News it will hold a crucial meeting to determine new transport fares, this week. According to the Vice Chairman of the GPRTU, Robert Saba, the union will meet key stakeholders including the Transport Ministry to deliberate and arrive at a decision. The GPRTU earlier announced a possible increase ...

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Consumers demand outright food ban over listeriosis alert


A section of Ghanaians have called for strict law enforcement in order to protect the public against health implication due to an alert of listeriosis disease in South Africa. Ghana has been advised to work to restrict food imports from South Africa following reported cases of the Listeriosis disease in that country. A document sighted by Citi Business News indicated ...

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Ghana Business News