Author: Bobbie Osei
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Rising fuel prices affecting sale of high engine capacity cars – Automobile Dealers
The rising cost of fuel at the pumps is negatively affecting the sale of high engine capacity cars. This is according to the Automobile Dealers Union Ghana. After starting the year at around GH¢6.65 petrol and diesel per litre are now selling for GH¢8.29 at some of the major oil marketing companies. This represents an…
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New benchmark discounts: Cost of imported cars to go up this month – Automobile Dealers
The cost of imported used vehicles is likely to rise from this month onwards as a result of the revision made to the level of discount applied to the benchmark values for cars. This is according to the Automobile Dealers Union Ghana. March 1, 2022, marked the successful commencement of the application of the 10%…
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Increase investment in rice production to make local produce competitive – Peasant Farmers
Head of Programmes and Advocacy at the Peasant Farmers Association of Ghana, Charles Nyaaba has reiterated calls for government to adequately support and invest in rice production in the country. According to him, leaving players in the rice value chain to compete with produce from areas with well-subsidized rice programs, only leads to Ghana’s rice…
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Increase support for Agric sector to curb inflation – Prof. Quartey to Gov’t
Head of the Economics Division at the Institute of Statistical, Social and Economic Research, at the University of Ghana, Prof. Peter Quartey has urged the government to consider identifying and supporting large scale farmers around the country, who would, in turn, support smaller farmers around them as a way to ensure sustained growth of Ghana’s…
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Gov’t could struggle later if revenue measures aren’t supported – John Kumah
A Deputy Finance Minister, John Kumah says it may get to a time that government may not be able to fulfil some critical payment obligations if the government’s revenue mobilization measures including the electronic transfer levy are not supported. Although he has debunked claims that government workers may not be paid in the next three…
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Abena Osei-Asare proposes new Committee to transition importers into manufacturers
The Finance Ministry has proposed to the trading community a new Industrialization Committee to help importers begin manufacturing some of the things they buy from other countries. This comes on the back of an announcement of a phased reversal of the benchmark values discount policy starting March 1, 2022. The Finance Ministry last week announced…
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Fuel prices may cross GH¢8 soon if Russia-Ukraine tensions stay high – COPEC
The Chamber of Petroleum Consumers (COPEC) is warning that if nothing is done by authorities in Ghana, regarding the rising fuel prices on the global market as Russia invades Ukraine, fuel prices could cross the GH¢8 mark at the pumps in the first pricing window of March. A barrel of Brent Crude Oil which was…
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Gov’t urged to introduce policies to cushion Ghanaians as fares go up on Feb. 26
Head of the Economics Division at the Institute of Statistical, Social and Economic Research, at the University of Ghana, Prof. Peter Quartey says stakeholders should expect the upcoming 15% increase in transport fares as announced by the Road Transport Operators, to increase national inflation in the coming months. The new fares, which are expected to…
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Police reiterates call for financial institutions to procure fit-for purpose bullion vans
The Ghana Police Service has reiterated calls for all financial institutions in the country to resort to the use of fit for purpose bullion vans for their cash-in transit activities. The remarks were made after the Police in the Greater Accra Region thwarted an attempted robbery attack on a bullion van at the North Industrial…
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Lack of attractive mortgages to blame for NPLs in construction sector – GREDA
The Ghana Real Estate Developers’ Association (GREDA), is attributing the high Non-Performing Loans (NPLs) in the construction sector to the lack of attractive mortgages in the country. Data from the Bank of Ghana shows that repayment challenges associated with COVID-19 were paramount last year, with the NPL ratio in the banking sector increasing from 15.5…