Author: Bobbie Osei
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Importation of second-hand cars rises
Importation of second-hand cars is on the rise over fears that the Customs Amendment Act, 2020, will be implemented in 2021, if the New Patriotic Party government is voted back into power. This was disclosed by the Automobile Dealers Union of Ghana. Speaking to Citi Business News, the General Secretary of the Automobile Dealers Union,…
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Digital transactions from January-September 2020 up by 102% – GhIPSS report
Despite the debilitating impact of the COVID-19 pandemic on the lives of individuals and the operations of businesses in Ghana, digital payment and settlement products under the Ghana Interbank Payment & Settlement Systems (GhIPSS) saw phenomenal increases in both volume and value for the first three quarters of 2020 compared to the same period in…
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World Bank approves additional $130 million to support Ghana’s COVID-19 fight
The World Bank Board of Executive Directors has approved an additional credit of $130 million dollars from the International Development Association (IDA) for the Ghana COVID-19 Emergency Preparedness and Response Project. The additional financing in the health sector will support the Government of Ghana to scale up its efforts to mitigate the resurgence of the…
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![Pencil art industry; challenges and opportunities in Ghana [Video report]](https://citibusinessnews.com/wp-content/uploads/2020/11/maxresdefault.jpg)
Pencil art industry; challenges and opportunities in Ghana [Video report]
Love for pencil drawing is gaining appeal in Ghana. There are reports that arts and culture contributed about 800 billion dollars to the American economy. With regard to painting, sculpture and the likes, it is believed that, that sub-sector is worth over 60 billion dollars. But how big is the market for pencil art in…
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5.7% GDP growth target for 2021 likely to be missed – Seth Terpker
A former Finance Minister, Seth Terkper, has expressed doubt about governments’ ability to achieve its growth target of 5.7 percent in the year 2021. During his presentation of the 2021 Expenditure in advance appropriation to Parliament on Wednesday, 28th October 2020, Finance Minister Ken Ofori-Atta said he expected growth to rebound strongly in 2021 at…
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Parliament approves financing agreement for establishment of National Development Bank
Parliament has approved the financing agreement between the Government of Ghana and the International Development Association (IDA) of the World Bank for an amount of $250 million for the establishment of a National Development Bank. The World Bank Board of Executive Directors had earlier on October 29, 2020, approved the US$250 million facility to support…
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Improve quality of products, service to remain competitive – COPEC to OMCs
The Chamber of Petroleum Consumers (COPEC) has charged Oil Marketing Companies (OMCs) across the country to make improved investments into training their frontline staff as well as provide high-quality products on a consistent basis in order to remain competitive. The remarks follow the completion of the second Consumer Satisfaction Survey for the month of October…
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Ghana’s gold production to go up by 9% in 2021 – Fitch Solutions
Gold production in Ghana in 2021 is expected to grow by about 9 percent, the biggest growth rate in years. This is expected to push the volume of gold produced in Ghana to 4.65 million ounces next year according to a report by Global market analysis outfit Fitch Solutions. The increase in gold production will…
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Aggrieved Fund management customers defy SEC warning; engage PBAY for refund
The Securities and Exchange Commission, SEC, says it will continue to work with law enforcement agencies to protect investors from fraudulent companies like PBAY Limited. In a recent release, the Commission cautioned the general public against engaging PBAY Limited, an entity which claims it can facilitate the payment of locked-up funds of customers of defunct…
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Brand Ghana office must be established by an Act of Parliament – IAA World President
The Chairman and World President of the International Advertising Association (IAA), Joel Nettey, has called for the establishment of the Brand Ghana office by an ACT of Parliament, to ensure that it receives dedicated funding. He says this will enable the country to have a dedicated outfit projecting Ghana to the world and attracting the…