Author: Bobbie Osei
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Economist advocates targeted fiscal policies to help deal with rising inflation
Economist with Databank, Courage Martey, believes the time for targeted fiscal policy interventions like subsidies for key sectors like Agriculture to check the rising rate of food prices which feeds into food inflation and national inflation is now. While the contribution of food and non-alcoholic beverages to national inflation saw a reduction by 1.6 percentage…
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Akufo-Addo charges private sector to help with Ghana’s economic recovery
As the Ghanaian economy strives to rebound to pre-pandemic levels, the Government is urging the private sector to come up with innovative products and services to satisfy the needs of their markets. The remarks come at a time when businesses are complaining about the high cost of production in the country, which is affecting the…
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Ticket prices to rise following B.A schedule change on Accra-London-Accra route
Stakeholders in the aviation sector are warning of a hike in ticket prices for passengers using British Airways on the Accra-London-Accra route following the reduction in the number of days that the airline flies to and from Ghana. The airline as a result of several factors including a shortage of staff has decided to cut…
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BA cuts flights on Accra-London-Accra rout to 5 from 7 per week due to lack of staff
British Airways has confirmed a cut down in the number of flights on its Accra-London-Accra route from 7 per week to 5 per week. This is according to sources within the travelling environment in the country. According to communication cited by Citi Business News between British Airways and its agent partners, the move by the…
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Ghana to lose out on AfCFTA gains due to high cost of doing business- AGI
As the cost of doing business continues to rise in the country, the Association of Ghana Industries (AGI), is cautioning that Ghana could miss out on the expected benefits from the much-touted African Continental Free Trade Area (AfCFTA). Data from the Ghana Statistical Service shows that the year-on-year producer price inflation which measures the average…
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Finance ministry refutes allegations of recklessness by IMANI
A Deputy Minister of Finance, John Kumah has refuted the Imani Center for Policy and Education’s claim that the Ministry of Finance had the highest level of fiscal recklessness between the years 2015 and 2020. According to the second Fiscal Recklessness Index 2020 Report, which utilized the Auditor General’s report to assess the fiscal recklessness…
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Importers of organic fertilizer to Ghana urged to look for local alternatives
As the Russia and Ukraine war disrupts the supply of fertilizer to Ghana and other parts of the world, the Ministry of Food and Agriculture has called on importers of organic fertilizer to consider procuring their raw materials from Ghana. According to the ministry, the current demand for organic fertilizer stands at 30,000 metric tons…
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Vendors bemoan negative impact of E-Levy after 1st month of implementation
After a month of implementation of the Electronic Transfer Levy (E-Levy), mobile money agents and users of the platform in Accra continue to bemoan its impact on their lives. Checks by Citi Business news show that while some are trying to find ways around the payment of the levy others are hoping things take a…
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Telcos Chamber calls for protection of the sector to sustain gains
As the leading telecommunications network in the country, MTN takes steps to further localize the company by having Ghanaians own at least 30% of its shares in the country by the end of this year, the Telecommunications Chamber says all stakeholders need to play their part to ensure that the gains of the sector are…
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Databank CEO bemoans bond buyers’ increased appetite for high interest rates
CEO of the Databank Group, Kojo Addae-Mensah, has bemoaned the overreaction of Ghanaian investors on the bonds market to high levels of inflation. The national inflation rate has risen to 23.6% as of April this year, from 8.5% in April of last year. The current rate is almost thrice the Central Bank’s 2022 target of…