Author: Bobbie Osei
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We want Ghanaians to own 30% of MTN Ghana shares by end of 2022 – GROUP CEO
Group CEO of leading telecommunications company MTN, Ralph Mupita has revealed the network’s goal of further localizing the company by having Ghanaians own at least 30% of MTN shares in the country by the end of this year. The telecom company concluded its Initial Public Offering (IPO) in August 2018, selling over 1.5 million shares…
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Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims
Some disgruntled customers of Ghana Life Insurance Company Limited are accusing the company of using delay tactics in the payment of their matured insurance policies. According to the customers the delay in the payment of their matured funds comes after investing with the company for about 6 years. Most of the customers Citi Business News…
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Gov’t expenditure needs to be checked to help deal with inflation – ICAG
The Institute of Chartered Accountants Ghana is calling for fiscal discipline amidst the current high inflation and policy rate. Some stakeholders have blamed unbudgeted spending by government Ministries, Departments and Agencies (MDA’s) for contributing to the high level of inflation in the country. Since May 2021, when national inflation stood at 7.5%, the rate has…
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Inflation rate likely to drop to single digits in 2023 – Dr. Ernest Addison
Governor of the Bank of Ghana Dr. Ernest Addison, has revealed that Ghanaians are likely to experience heightened inflation rates for the rest of the year 2022 but should expect a single digit inflation in the year 2023. The national inflation rate as at April this year stood at 23.6%, almost triple the Central Bank’s…
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Monetary Policy Rate increased again by 200 basis points; now at 19%
The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has increased the policy rate by 200 basis points to 19 %. This is the second time in 12 months that the Central Bank has increased the key rate by 200 basis points or more. The rate, which is of keen interest to businesses,…
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Cedi depreciation pushes Ghana’s debt to over GH¢390 bn in April; 78% of GDP
Recent data released by the Bank of Ghana puts Ghana’s total public debt stock as of March 2022, at US$ 55.1 billion or GH¢391.9 billion. In Dollar terms, the debt dropped by over $3 billion in the first 3 months of the year, from $58.4 billion in January to $55.1 billion in March. In Cedi…
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BoG Governor confident inflation has peaked; expects rate to start declining
Governor of the Bank of Ghana, Dr. Ernest Addison, has described as baffling the sustained rise in the rate of inflation in the country. According to the governor, the Monetary Policy Committee, which is meeting to review developments in the economy, will need to decide on the current policy rate, which stands at 17%. The…
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Policy rate likely to be increased to tame inflation – Databank CEO
The Monetary Policy Committee (MPC) of the Bank of Ghana will from today Wednesday, 18th May 2022 to Friday, 20th May 2022 hold its 106th Regular Meetings to review developments in the economy. The MPC’s regular meetings over the next three days will conclude with an announcement of a decision to either maintain, reduce or…
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Seth Terkper urges Gov’t to present its policy alternative to an IMF program
Former Finance Minister, Seth Terkper has urged government to come out with alternative policies and programs that will support Ghana’s ailing economy, since it insists on not going to the International Monetary Fund (IMF) for support. Finance Minister, Ken Ofori-Atta, last week reiterated government’s stance on not seeking a bailout from the IMF, saying government…
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A comprehensive storage strategy will deal with post – harvest losses & inflation – CSIR
As food inflation in the country continues to rise, further pushing national inflation to unprecedented levels, the Council for Scientific and Industrial Research (CSIR) is urging government to invest in a comprehensive storage strategy to deal with post-harvest losses in the country. This the CSIR believes will eventually make food available all-year round which will…