No Result
View All Result
Monday, January 30, 2023
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    Petrol to sell for GHS15 in February – IES

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Ghana’s public debt stock hits ¢575.7bn in November 2022; more than 90% of GDP – BoG

    Govt strikes deal with Insurance Association on debt exchange programme

    We must invest in crucial infrastructure to accelerate AfCFTA’s success– Bawumia to African Leaders

    NCCE Chairperson pays courtesy call on BoG Governor

    Feed Africa Summit: African Development Bank to commit $10bn to make continent breadbasket of the world

    Accra never sleeps, neither does The Cosmopolitan …The Cosmopolitan now runs 24/7 [ARTICLE]

    Tax on agro inputs a threat to agribusiness and food security – Analysts

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Government and Association of Banks reach agreement on DDEP

    DDE: Banks secure 5% coupon for 2023; other revisions

    Cocoa bill payment; BoG, COCOBOD others agree to roll over maturing investments

    AfriCatalyst to host conference on use of Special Drawing Rights to accelerate economic transformation

    Banks seek shorter maturities in local debt-swap deal

    Zenith Bank ceases trustee services in unit trust schemes in Ghana

    Gold for oil policy will reduce pressure on forex – Bawumia

    Ghana best place for business – Nana Addo woos UAE investors

  • TECHNOLOGY

    MTN to fight $773m tax bill from government

    Telcos to implement 1% E-Levy charge from today

    Huawei Equips 500 Traders in FinTech

    Africans urged to bolster adoption of Bitcoins

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Meta considered building a Twitter competitor to capitalize on Elon Musk’s ‘crisis’ at company

    E-commerce in Ghana – statistics & facts

    Telcos ready to begin deactivating unregistered SIMs – Chamber of Telecommunications

    Malagasy delegation completes tour of Ghanaian Fintechs and MFIs

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Feed Africa Summit: African Development Bank to commit $10bn to make continent breadbasket of the world

    Nigeria’s national debt hits an all time as the country struggles with repayment

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Nigeria set to stop importation of refined oil and refine its own oil by 2023

    EIU analysts forecast grim economic outlook for Africa in 2023

    AUDA-NEPAD holds workshop for Youth and Media on AU Year of Nutrition

    Agribusiness entrepreneurs must take advantage of AfCFTA – ADB MD.

    Inflation, debt, and forex crisis is pushing many African economies to the brink – IMF warns

  • FEATURES
  • Videos
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    Petrol to sell for GHS15 in February – IES

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Ghana’s public debt stock hits ¢575.7bn in November 2022; more than 90% of GDP – BoG

    Govt strikes deal with Insurance Association on debt exchange programme

    We must invest in crucial infrastructure to accelerate AfCFTA’s success– Bawumia to African Leaders

    NCCE Chairperson pays courtesy call on BoG Governor

    Feed Africa Summit: African Development Bank to commit $10bn to make continent breadbasket of the world

    Accra never sleeps, neither does The Cosmopolitan …The Cosmopolitan now runs 24/7 [ARTICLE]

    Tax on agro inputs a threat to agribusiness and food security – Analysts

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Government and Association of Banks reach agreement on DDEP

    DDE: Banks secure 5% coupon for 2023; other revisions

    Cocoa bill payment; BoG, COCOBOD others agree to roll over maturing investments

    AfriCatalyst to host conference on use of Special Drawing Rights to accelerate economic transformation

    Banks seek shorter maturities in local debt-swap deal

    Zenith Bank ceases trustee services in unit trust schemes in Ghana

    Gold for oil policy will reduce pressure on forex – Bawumia

    Ghana best place for business – Nana Addo woos UAE investors

  • TECHNOLOGY

    MTN to fight $773m tax bill from government

    Telcos to implement 1% E-Levy charge from today

    Huawei Equips 500 Traders in FinTech

    Africans urged to bolster adoption of Bitcoins

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Meta considered building a Twitter competitor to capitalize on Elon Musk’s ‘crisis’ at company

    E-commerce in Ghana – statistics & facts

    Telcos ready to begin deactivating unregistered SIMs – Chamber of Telecommunications

    Malagasy delegation completes tour of Ghanaian Fintechs and MFIs

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Feed Africa Summit: African Development Bank to commit $10bn to make continent breadbasket of the world

    Nigeria’s national debt hits an all time as the country struggles with repayment

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Nigeria set to stop importation of refined oil and refine its own oil by 2023

    EIU analysts forecast grim economic outlook for Africa in 2023

    AUDA-NEPAD holds workshop for Youth and Media on AU Year of Nutrition

    Agribusiness entrepreneurs must take advantage of AfCFTA – ADB MD.

    Inflation, debt, and forex crisis is pushing many African economies to the brink – IMF warns

  • FEATURES
  • Videos
No Result
View All Result
Citi Business News
No Result
View All Result

Ghana among worst performing African countries in 2015- Groupe Nduom

bycitibusinessnews
December 31, 2015
in Business, Local Economy, News
Share on FacebookShare on TwitterShare on Whatsapp

Groupe Nduom Research (GN Research) analysis on various economies during the 2015 fiscal year is concerned about Ghana’s economic performance during the year.

This research report was written taken into consideration that the 2015 fiscal year has been challenging for most developing countries including Ghana.

Low commodity prices on the world market coupled with anticipation of a possible increase in U.S key policy rate compelled most central banks to further tighten monetary policy stance.

ADVERTISEMENT

In particular, the central bank of Gambia increased its policy rate by 100 basis points to close the year at 23%, Malawi by 200 basis points to 27%, Kenya by 300 basis points to 11.5% and Ghana by 500 basis points to 26%.

Nonetheless, the Central Bank for West African States (that serves eight Francophone countries in West Africa) and the central bank of Egypt kept their rates at 3.5% and 9.25% respectively.

The central bank of Nigeria and Tunisia also reduced the policy rate by 2% and 0.5% respectively to stimulate real sector growth.

Hence, by December 2015, the 91-day Treasury bill rates for Nigeria hovered around 3.65%, 2.3% for Mauritius, 4.3% for Tunisia, 4.5% for Rwanda, 10.8% for Kenya, 13.6% for Tanzania, 17.5% for Gambia, 22.5% for Malawi and 22.9% for Ghana.

Lending rates for most North African countries remained below 8.50%.The average maximum lending rate for francophone countries in West Africa was 13.9% by the end of first half of 2015 with Cote d’Ivoire recording the highest rate of 14.99% and Togo recording the least rate of 12.96%.

However, the prime Lending rates for Nigeria remained within the 16% to 17.3% whilst the average lending rate for Ghana stayed within 27.9% and 29%.

As at December 24, 2015, the Zambia kwacha recorded the highest Year-to-date (YTD) depreciation of 71.3%, followed by Malawi kwacha (41.1%), South African Rand (31.4%), Namibian dollar (31.1%) and the Tanzanian shilling (23.1%).

The Ghana cedi, Botswana pula and Kenyan shilling recorded a YTD depreciation of 18.4%, 17% and13% respectively.

This translated into increases in prices of goods and services on the domestic market, made most countries less competitive and increased current account deficit to GDP drastically.

Coupled with an increase in monetary policy rates, consumer price inflation for Ghana and Malawi averaged around 17% and 21% respectively instead of the 11.5% and 16.4% target set for 2015.

As at October 2015, current account deficit to GDP also worsened to 7.9%, 8.3%, 9.6%, 41.6% and 12.1% for Burkina Faso, Ghana, Kenya, Liberia and Namibia respectively as against 5.6% for sub-Saharan Africa (World Bank, 2015).

Thus, all efforts by most governments to reduce government debt to GDP proved futile. As at September 2015, Ghana’s debt to GDP stood at almost 70% (one of the highest in Africa) as compared to 53.4%, 35.7%, 32.2% and 43.9% recorded by Kenya, Liberia, Cameroun and South Africa respectively.

Even so, South Africa, Ghana and Nigeria were named among the most corrupt countries in Africa whereas Cote d’Ivoire, Burkina Faso and Mali made it into the list of least corrupted nations in Africa in the latest People and Corruption report conducted by Transparency International.

Meanwhile, the outlook for Ghana in 2016 looks a bit promising given the possible minimization of the energy crisis, relatively stable cedi and expected rise in government expenditure ahead of the December elections.

–

Source:  Groupe Nduom

 

Related Posts

Oil And Gas

Petrol to sell for GHS15 in February – IES

byMichael Ogbodu

The Institute of Energy is projecting Petrol will retail for about GHS15 per litre in the next pricing window of...

Read more

$130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

Ghana’s public debt stock hits ¢575.7bn in November 2022; more than 90% of GDP – BoG

Govt strikes deal with Insurance Association on debt exchange programme

We must invest in crucial infrastructure to accelerate AfCFTA’s success– Bawumia to African Leaders

NCCE Chairperson pays courtesy call on BoG Governor

Feed Africa Summit: African Development Bank to commit $10bn to make continent breadbasket of the world

Next Post

Ghanaian business & corporate giants we lost in 2015

Video on Demand: Business Weekly

ADVERTISEMENT
Citi Business News

© 2019 Citi Business News - CitiBusinessNews.com by CNR Digital.

Navigate Site

  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

Follow Us

No Result
View All Result
  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

© 2019 Citi Business News - CitiBusinessNews.com by CNR Digital.