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Tuesday, January 26, 2021
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    Ghana Association of Bankers appoints Mansa Nettey as new president

    AfCFTA: Construction Chamber advocates for reduction of lending rate

    GRA pegs 2021 revenue target at GHS 60 billion

    GRA exceeds 2020 revenue target by GHS2.6 billion

    Public Enterprises Minister must prioritize profitability of SOEs – Economist

    ECOWAS needs payment, settlement system as ECO adoption delays – Akufo-Addo

    Local manufacturers urged to pay attention to product labelling

    Provide small cocoa processors with sustained financial support – Banks urged [Video]

    Kawa Moka strives to transform Ghana’s coffee industry

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    Ghana Association of Bankers appoints Mansa Nettey as new president

    GRA pegs 2021 revenue target at GHS 60 billion

    GRA exceeds 2020 revenue target by GHS2.6 billion

    ECOWAS needs payment, settlement system as ECO adoption delays – Akufo-Addo

    Provide small cocoa processors with sustained financial support – Banks urged [Video]

    Kawa Moka strives to transform Ghana’s coffee industry

    AfCFTA: Address challenges of local businesses – GNCCI to government

    Sensitize employees, customers on COVID-19 safety protocols – AGI urges SMEs

    PIAC elects Professor Kwame Adom-Frimpong as its new chairman

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    Huawei Watch Fit; The perfect smartwatch for everyone

    A close look at the Huawei FreeBuds 3; World’s 1st open-fit active noise-cancellation earphone

    Ashigbey urges government to revise telecoms industry laws to boost growth

    Blend tech with fashion with the new Huawei Watch Fit

    Kick back and enjoy immersive entertainment for the whole family with the MatePad T 10s

    Cost of political adverts on social media to rise by 200% in next election – Maximus

    Huawei announces global release schedule of EMUI 11 update

    Experience powerful all-round performance with the New Huawei Y8s

    Hyundai launches first ever electric car in Ghana

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    ECOWAS needs payment, settlement system as ECO adoption delays – Akufo-Addo

    AfCFTA to set up trade finance facility for SMEs in Africa

    LNG-to-power project to reduce cost of electricity in Ghana – Energy Consultant

    World Bank plans to invest over US$5 billion in drylands in Africa

    Be proactive to benefit from AfCFTA – AfroChampions urges businesses in Ghana

    GUTA to commence cross-border trading with Nigeria

    Stakeholders charged to eliminate barriers likely to impede success of AfCFTA

    Ghana can benefit from ‎AfCFTA with hemp production – Business consultant 

    GUTA welcomes Nigeria’s decision to reopen its land borders

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    Ghana Association of Bankers appoints Mansa Nettey as new president

    AfCFTA: Construction Chamber advocates for reduction of lending rate

    GRA pegs 2021 revenue target at GHS 60 billion

    GRA exceeds 2020 revenue target by GHS2.6 billion

    Public Enterprises Minister must prioritize profitability of SOEs – Economist

    ECOWAS needs payment, settlement system as ECO adoption delays – Akufo-Addo

    Local manufacturers urged to pay attention to product labelling

    Provide small cocoa processors with sustained financial support – Banks urged [Video]

    Kawa Moka strives to transform Ghana’s coffee industry

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
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    Ghana Association of Bankers appoints Mansa Nettey as new president

    GRA pegs 2021 revenue target at GHS 60 billion

    GRA exceeds 2020 revenue target by GHS2.6 billion

    ECOWAS needs payment, settlement system as ECO adoption delays – Akufo-Addo

    Provide small cocoa processors with sustained financial support – Banks urged [Video]

    Kawa Moka strives to transform Ghana’s coffee industry

    AfCFTA: Address challenges of local businesses – GNCCI to government

    Sensitize employees, customers on COVID-19 safety protocols – AGI urges SMEs

    PIAC elects Professor Kwame Adom-Frimpong as its new chairman

  • TECHNOLOGY

    Huawei Watch Fit; The perfect smartwatch for everyone

    A close look at the Huawei FreeBuds 3; World’s 1st open-fit active noise-cancellation earphone

    Ashigbey urges government to revise telecoms industry laws to boost growth

    Blend tech with fashion with the new Huawei Watch Fit

    Kick back and enjoy immersive entertainment for the whole family with the MatePad T 10s

    Cost of political adverts on social media to rise by 200% in next election – Maximus

    Huawei announces global release schedule of EMUI 11 update

    Experience powerful all-round performance with the New Huawei Y8s

    Hyundai launches first ever electric car in Ghana

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    • Asia
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    ECOWAS needs payment, settlement system as ECO adoption delays – Akufo-Addo

    AfCFTA to set up trade finance facility for SMEs in Africa

    LNG-to-power project to reduce cost of electricity in Ghana – Energy Consultant

    World Bank plans to invest over US$5 billion in drylands in Africa

    Be proactive to benefit from AfCFTA – AfroChampions urges businesses in Ghana

    GUTA to commence cross-border trading with Nigeria

    Stakeholders charged to eliminate barriers likely to impede success of AfCFTA

    Ghana can benefit from ‎AfCFTA with hemp production – Business consultant 

    GUTA welcomes Nigeria’s decision to reopen its land borders

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AfCFTA: GUTA calls for access to cheaper credit to be competitive

by Michael Ogbodu
January 12, 2021
in Banking And Finance, Local Economy, Top Stories
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The Ghana Union of Traders Association (GUTA) says it will require access to cheaper credit to be able to take full advantage of the African Continental Free Trade Area (AfCFTA) agreement.

According to the Ghana Union of Traders Association, the commencement of the AfCFTA means it would now have to compete with businesses from other African countries who have access to credit facilities at lower rates than are currently being offered in Ghana.

President of the Ghana Union of Traders Association, Dr Joseph Obeng says although his outfit welcomes the implementation of the AfCFTA, it hopes the obvious limitation will be addressed by the government soon.President, Ghana Union of Traders Association

“We are going to compete with other African countries, and it’s going to be very competitive especially when we have been talking about the cost of doing business here, in terms of borrowing. Cost of borrowing is very high and so if we do not do anything about that aspect, it means that we are going to be outdone by the other African countries who have affordable credit.”

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Dr Obeng also called for more education on AfCFTA to enable members of GUTA to maximise the opportunities associated with the agreement.

“AfCFTA is very good for us, only that we are not ready. We lack more information; the rules of origin and all that has not been properly worked on. So, it’s welcome news that it’s starting, but we think the actual work and business will start later because most of the things that we seek especially with regard to the goods that are permissible to trade with all need to be known.”

AfCFTA is a trade agreement between 54 African countries that seeks to remove several trade barriers.

The agreement which commenced this month has an estimated potential of boosting both intra-African trades by over 50 per cent while eliminating import duties.

With a combined market of over 1.2 billion people and a GDP of 2.5 billion dollars, AfCFTA could potentially make Africa the largest free trade area in the world.

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AfCFTA: Construction Chamber advocates for reduction of lending rate

GRA pegs 2021 revenue target at GHS 60 billion

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