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    ‘Seeking IMF bailout doesn’t mean e-levy has failed’ – Oppong Nkrumah

    ‘Our IMF negotiations will be in best interest of Ghanaians’ – Oppong Nkrumah

    IMF team arrives in Ghana on Tuesday ahead of Wednesday’s bailout talks

    Golden Tulip Hotels not sold; leased for 12 years – Management

    Tullow Ghana awards KNK contract to Petrofac as part of transformation project

    We did no wrong in sale of 260 metric tonnes of slop oil – TOR

    President and Board Chairman of Afreximbank, Prof Benedict Oramah

    Plans are underway to complete fertilizer, railway projects in Ghana – Afreximbank

    Free SHS and other programs must be redesigned now – Seth Terkper

    KGL Group hosts Nigeria Lottery Regulatory Commission CEO Mr. Lanre Gbajabiamila

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    Golden Tulip Hotels not sold; leased for 12 years – Management

    Tullow Ghana awards KNK contract to Petrofac as part of transformation project

    We did no wrong in sale of 260 metric tonnes of slop oil – TOR

    Increase investments in digitisation platforms to ensure safe trade transactions under AfCFTA – BoG

    Fuel prices to go up as NPA announces restoration of UPPF margin

    [From the left] Thomas Abanga (CEO of Abanga Farms & Food Systems), Selma Ashipala Musavyi (Namibia High Commissioner to Ghana), Dr. Benjamin Sasu (Head of Food Safety), Mrs. Chariti Gbadawo (Director at the Ministry of Foreign Affairs & Regional Integration) ), Prof Bani (Board Chairman, Abanga Farms and Food Systems) and Clarence Zamuee (MEATCO Rep)

    Ghana’s Abanga Farms & Food Systems and Namibia’s Meatco in big partnership

    Gov’t still plans on tabling a legislation to compel banks to lend to the Agric sector – Agric Minister

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Enterprise Group PLC records 37% rise in revenue in 2021

  • TECHNOLOGY

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

    BoG, CSA deepen collaboration to fight cyber threats

    Dr. Bawumia unveils Ghana’s first Tier IV data centre

    ADB pioneers in global remittance services in Ghana [ARTICLE]

    Introduction of GhanaPay complements efforts to capture the unbanked into digital payments ecosystem – Veep

    #CitiBusinessFestival: How the country can take advantage of the “Ghana Opportunity”

    Chamber of Telecommunications calls for more investment into Technology to improve livelihoods

    Citi Business Festival: Address lack of financial data challenges using MoMo – Rufai Abdul Majeed

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    Africa’s internet economy to cross $180 billion by 2025: Report

    Regional economic cooperation needed to enhance Africa’s competitiveness – Bawumia

    Ivory Coast is set to receive $26.1 billion worth of development finance from 4 lenders, the EU and France

    Gulf central banks, Bank of England raise policy rates after Fed hike

    US Fed meets inflation surge with 75bp hike

    As Nigeria’s inflation rate accelerates to 17.71%, the World Bank warns millions could face extreme poverty

    Modern airline tickets design with flight time and passenger name. Plane tickets vector pictogram. Airline boarding pass template. Vector illustration. The concept of air transportation

    Ticket prices to rise following B.A schedule change on Accra-London-Accra route

    Bawumia calls for more AfDB support as African economies battle global challenges

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

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    • Top Stories

    ‘Seeking IMF bailout doesn’t mean e-levy has failed’ – Oppong Nkrumah

    ‘Our IMF negotiations will be in best interest of Ghanaians’ – Oppong Nkrumah

    IMF team arrives in Ghana on Tuesday ahead of Wednesday’s bailout talks

    Golden Tulip Hotels not sold; leased for 12 years – Management

    Tullow Ghana awards KNK contract to Petrofac as part of transformation project

    We did no wrong in sale of 260 metric tonnes of slop oil – TOR

    President and Board Chairman of Afreximbank, Prof Benedict Oramah

    Plans are underway to complete fertilizer, railway projects in Ghana – Afreximbank

    Free SHS and other programs must be redesigned now – Seth Terkper

    KGL Group hosts Nigeria Lottery Regulatory Commission CEO Mr. Lanre Gbajabiamila

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

    Golden Tulip Hotels not sold; leased for 12 years – Management

    Tullow Ghana awards KNK contract to Petrofac as part of transformation project

    We did no wrong in sale of 260 metric tonnes of slop oil – TOR

    Increase investments in digitisation platforms to ensure safe trade transactions under AfCFTA – BoG

    Fuel prices to go up as NPA announces restoration of UPPF margin

    [From the left] Thomas Abanga (CEO of Abanga Farms & Food Systems), Selma Ashipala Musavyi (Namibia High Commissioner to Ghana), Dr. Benjamin Sasu (Head of Food Safety), Mrs. Chariti Gbadawo (Director at the Ministry of Foreign Affairs & Regional Integration) ), Prof Bani (Board Chairman, Abanga Farms and Food Systems) and Clarence Zamuee (MEATCO Rep)

    Ghana’s Abanga Farms & Food Systems and Namibia’s Meatco in big partnership

    Gov’t still plans on tabling a legislation to compel banks to lend to the Agric sector – Agric Minister

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Enterprise Group PLC records 37% rise in revenue in 2021

  • TECHNOLOGY

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

    BoG, CSA deepen collaboration to fight cyber threats

    Dr. Bawumia unveils Ghana’s first Tier IV data centre

    ADB pioneers in global remittance services in Ghana [ARTICLE]

    Introduction of GhanaPay complements efforts to capture the unbanked into digital payments ecosystem – Veep

    #CitiBusinessFestival: How the country can take advantage of the “Ghana Opportunity”

    Chamber of Telecommunications calls for more investment into Technology to improve livelihoods

    Citi Business Festival: Address lack of financial data challenges using MoMo – Rufai Abdul Majeed

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

    Africa’s internet economy to cross $180 billion by 2025: Report

    Regional economic cooperation needed to enhance Africa’s competitiveness – Bawumia

    Ivory Coast is set to receive $26.1 billion worth of development finance from 4 lenders, the EU and France

    Gulf central banks, Bank of England raise policy rates after Fed hike

    US Fed meets inflation surge with 75bp hike

    As Nigeria’s inflation rate accelerates to 17.71%, the World Bank warns millions could face extreme poverty

    Modern airline tickets design with flight time and passenger name. Plane tickets vector pictogram. Airline boarding pass template. Vector illustration. The concept of air transportation

    Ticket prices to rise following B.A schedule change on Accra-London-Accra route

    Bawumia calls for more AfDB support as African economies battle global challenges

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

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South African wheat prices hit record high on import tariffs

bycitibusinessnews
May 27, 2016
in Africa, Southern Africa
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South African wheat prices hit an all time high on Thursday as the market reacted to an expected 30 percent hike in import tariffs due to a weak rand and falling global prices.

Africa’s most industrialised economy is set to increase the tariff to 1,591.40 rand ($102.58) from 1,224.30 rand currently, according to a notice on the South African Grain Information Services website published on late on Wednesday.

The expected tariff hike is based on a formula using current world wheat prices and rand expectations.

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The wheat contract for delivery in July reached a record high of 5,220 rand ($336.48) to close 0.58 percent up at 5,180 rand.

“It was the first day of trading after the announcement on SAGIS and that added on some pressures to the price,” Agricultural Business Chamber economist Wandile Sihlobo said.

South Africa imports about 60 percent of its annual wheat consumption with this figure likely to increase along with higher demand and falling domestic production.

“A high import tariff is also a double-edged sword, protecting farmers from unfair international competition on the one hand, but burdening consumers through increased prices on the other,” Sihlobo said in a report.

Chicago wheat prices, which are at near six-year lows, rose 1.5 pct on Thursday helped by potential damage to maturing U.S. winter wheat due to wet weather.

South Africa’s finance ministry in April approved a 34 percent increase in the tariff on wheat imports. The drought-hit country made its biggest purchase of U.S. wheat in nearly five years last week.

–

Source: CNBC Africa

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