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    Accra, GHANA: A woman holds 03 July 2007 in Accra a wad new currency, the new cedi, that Ghana put in circulation that day, although the old money will still be valid until the end of the year. Currently, the cedi is one of the least valued currencies in Africa: 9000 cedis equal one US dollar.   Ernest Addison, head of research at the Bank of Ghana, assured in November 2006 that the changeover was not a revaluation nor devaluation, and will not affect foreign exchange.  AFP PHOTO / ISSOUF SANOGO (Photo credit should read ISSOUF SANOGO/AFP/Getty Images)

    Local currency crosses ¢10 to one dollar mark on retail market

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    Emergency MPC meeting: Goldman Sachs projects 200 basis points hike in policy rate

    MTN Ghana introduces voucher distribution denomination change to prevent price disparity

    BoG, UG partner to improve research in Ghana’s financial sector

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    VEPEAG, GAVEX partner to boost vegetable production, exports in Ghana

    VADUG members resist implementation of Customs Amendment Act

    Cost of credit to further go up as Bank of Ghana raises policy rate to 22%

    Emergency MPC meeting: Goldman Sachs projects 200 basis points hike in policy rate

    MTN Ghana introduces voucher distribution denomination change to prevent price disparity

    BoG, UG partner to improve research in Ghana’s financial sector

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    Cedi Depreciation: Government urged to enforce laws on pricing in dollars

    Assistant Director, Fintech and Innovation, BoG, Clarence Blay

    E-cedi will not affect MoMo business – Bank of Ghana

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    Accra, GHANA: A woman holds 03 July 2007 in Accra a wad new currency, the new cedi, that Ghana put in circulation that day, although the old money will still be valid until the end of the year. Currently, the cedi is one of the least valued currencies in Africa: 9000 cedis equal one US dollar.   Ernest Addison, head of research at the Bank of Ghana, assured in November 2006 that the changeover was not a revaluation nor devaluation, and will not affect foreign exchange.  AFP PHOTO / ISSOUF SANOGO (Photo credit should read ISSOUF SANOGO/AFP/Getty Images)

    Local currency crosses ¢10 to one dollar mark on retail market

    VEPEAG, GAVEX partner to boost vegetable production, exports in Ghana

    VADUG members resist implementation of Customs Amendment Act

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

    Cost of credit to further go up as Bank of Ghana raises policy rate to 22%

    PURC justifies upward review of utility tariffs

    Emergency MPC meeting: Goldman Sachs projects 200 basis points hike in policy rate

    MTN Ghana introduces voucher distribution denomination change to prevent price disparity

    BoG, UG partner to improve research in Ghana’s financial sector

  • Business
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    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
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    • Tourism
    • Transport

    VEPEAG, GAVEX partner to boost vegetable production, exports in Ghana

    VADUG members resist implementation of Customs Amendment Act

    Cost of credit to further go up as Bank of Ghana raises policy rate to 22%

    Emergency MPC meeting: Goldman Sachs projects 200 basis points hike in policy rate

    MTN Ghana introduces voucher distribution denomination change to prevent price disparity

    BoG, UG partner to improve research in Ghana’s financial sector

    BoG, EOCO deepen collaboration to build robust financial sector

    Cedi Depreciation: Government urged to enforce laws on pricing in dollars

    Assistant Director, Fintech and Innovation, BoG, Clarence Blay

    E-cedi will not affect MoMo business – Bank of Ghana

  • TECHNOLOGY

    MTN Ghana introduces voucher distribution denomination change to prevent price disparity

    We’re ready to re-engage gov’t on acquisition of Vodafone shares – Telecel

    New deadline for SIM re-registration too short – MoMo agents association

    Extend SIM card re-registration exercise to January 2023 – MoMo agents

    Vodafone agrees sell stake in Ghana’s business to Telecel

    Telecoms Chamber and IIPGH advocate sustained coding education

    IIPGH to enter coding education partnership with Telecoms Chamber

    PayAngel joins Microsoft for Startups Founders Hub

    Node 8, HTU hold first edition of Node X in Ho

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    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

    African countries that could follow Sri Lanka into economic chaos

    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

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Kenya:Stores ration subsidised maize flour

bycitibusinessnews
May 18, 2017
in Africa, East Africa
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Subsidised maize flour will be available across the country from Sunday due to logistic hitches as Nairobi supermarkets restricted shoppers to two 2kg packets.

Cereal Millers Association (CMA) Wednesday said the Sh90 a packet maize flour will be available at all top retail chains by Friday.

The cheap maize is the product of a Sh6 billion subsidy meant to lower the price of a 90 kg bag of maize to Sh2,300 from over Sh4,000.

“CMA attributes this to logistical issues where some of our members have had to adjust their distribution schedules, and secondly to the contractual obligations between our members and particular supermarkets,” the millers’ lobby said in reference to lack of the cheaper maize on shop shelves.

“We therefore expect that the GOK-subsidised maize will be available countrywide in small shops and supermarkets by end of day Sunday.”

Rising prices of maize flour and other foods have become a headache for President Uhuru Kenyatta as he seeks a second term in the August elections.

He is running against opposition leader Raila Odinga, who has used the high cost of living to portray the government as incompetent.

A spot-check by the Business Daily on Wednesday showed that Tuskys supermarket was the only retailer selling the subsidised flour in Nairobi’s central business district.

“Polite notice, kindly pick only two (2),” read a note placed on the shelf at the Tuskys Chap Chap branch as rationing persisted.

Nakumatt and Uchumi supermarkets did not have flour but officials said orders had been made.

“We have ordered for the flour and we expect it on the shelf anytime today, I assure our customers that we will have enough of it before the weekend,” Nakumatt chief executive Atul Shah said.

The government plans to import 2.9 million bags of maize in June and subsidise up to about five million bags until harvest time.
It has allowed millers to import maize.

A similar subsidy plan is being mulled to lower the cost of milk and sugar.

Prices of sugar and milk have skyrocketed in recent months, pushing inflation to a 57-month high of 11.48 per cent last month.

The price jump is partly caused by drought which has left about 2.7 million people in need of food aid.

–

Credit: Business Daily

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