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Tag Archives: Ghana Business

Tigo & Airtel complete merger talks

airtel and tigo

Citi Business News has learnt telecom operators; Airtel and Tigo, have completed merger talks to make the two companies one entity in Ghana. The talks which commenced last year were finalized early this year-2017, with persons familiar with the move asserting, that an announcement on the completion will be made soon. It still remains unclear whether the two companies will ...

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Producer Inflation drops to 3.1 percent in January 2017

Mr. Baah Wadieh, Deputy Government Statistician

The Producer Price Inflation for January 2017 recorded 3.1 percent. This rate is 1.7 percent lower than the rate recorded in December 2016 which was 4.9 percent. The monthly change rate for January 2017 was 2.1 percent. According to the Ghana Statistical Service, the Mining and Quarrying sub-sector recorded the highest year-on-year producer price inflation rate of 18.6 percent, followed ...

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Unibank offers most expensive interest on car loans – BoG report

cars

The latest Annual Percentage Rates (APR) and Average Interest (AI) report by the Bank of Ghana has shown that Unibank still leads as the bank with the most expensive rate on vehicle loans. For three consecutive times, Unibank’s rate on your car loan has hit 45.5 percent from the 40.8 to 45.8 percent as at August last year. The rate ...

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Stanchart offers lowest interest on customers’ deposits – BoG report

stanchart

Standard Chartered Bank has been named as the bank with the lowest interest on customer deposits. According to the Bank of Ghana’s latest Annual Percentage Rates (APR) and Average Interest (AI) report, Standard Chartered Bank offered 4.3 percent on deposits of its customers as at end of January 2017. The report which contained the rates offered by thirty-one banks however ...

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Banks position themselves for recapitalization

bank-of-ghana pic

Commercial banks across the country are confident of meeting the new minimum capital requirement yet to be set by the Bank of Ghana (BoG). The BOG last year disclosed that it will give commercial banks some space to meet a new capital reserve ratio. The figure is expected to go up from the current 120 million cedis. The Chartered Institute ...

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Petrol, diesel prices to go up by 3 percent next week

FUEL-STATION

The Institute of Energy Security (IES) has predicted a 3 percent increase in fuel prices next week. According to the Institute, due to current developments around the world, it is likely prices for the next pricing window will go up. “If you look at the crude oil price at the world market, the cedi dollar ratio, the exchange rate, and ...

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Rent revenue increases by over 4000% in 2016 – GRA

packplus 3

Government’s revenue from rent increased by more than 4000 percent between 2015 and 2016, the Ghana Revenue Authority (GRA) has said. The amount collected increased from GH¢145,434.51 to GH¢6,739,107.76 between the period. According to the GRA, revenue from excise recorded the worst performance as it dropped by 91.75 percent within the one year period. Revenue from excise dropped from GH¢336,286.99 ...

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Air Peace starts Accra-Lagos route

air 3

Competition on the Accra –Lagos flight route has been intensified with an additional airline operating effective today (February 16, 2017). The Nigerian owned Air Peace which operates an intra-city flight in Nigeria, has since extended its services to Accra due to the increased passenger volumes along the route. The move also comes at a time that Ghana is positioning itself ...

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Private sector pushes for optimal inflation target

Mark Badu Aboagye - GNCC CEO

Private sector businesses have strongly advocated an optimal inflation target to guide economic policies that support private sector growth. They argue that the current drop in inflation while other factors such as interest rates and depreciation remain unchanged, make it difficult for them to plan and expand their business operations. “I think that as a country, we will need to ...

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We’ll prosecute defaulting taxpayers in mining sector – GRA

GRA_logo

Suppliers of mining equipment in Ghana who default in filing tax returns risk prosecution if they fail to reconcile with the Ghana Revenue Authority (GRA). It follows plans by the GRA to clamp down on defaulting tax payers especially in the mining sector, this year. Under the law, mining companies are entitled to refunds of some taxes on their inputs. ...

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Ghana Business News