Author: Bobbie Osei
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Living Income Differential is being applied without any issues – COCOBOD PRO
The Public Affairs Manager of the Ghana Cocoa Board (COCOBOD) Fiifi Boafo, has downplayed reports that chocolate makers around the world are finding ways of offsetting the cost imposed by the recently introduced living income differential (LID) on cocoa sales for the 2020/21 season. The 400 dollar-per-tonne ‘living income differential‘ was introduced in July of…
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Project to fill gaps within the fishery sector launched
Fishing is a major sector of Ghana’s economy. It currently accounts for 1.2 percent of Gross Domestic Product (GDP) and provides employment for an estimated 2.5 million people. However, the sector is faced with a number of challenges that threatens the livelihoods of its dependants. To enhance the socio-economic livelihoods of fishing communities within some…
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Oil and Gas capital expenditure to grow by 18 percent in 2019 — GSS
The Ghana Statistical Service is projecting that the total volume of capital expenditure in the oil and gas sector will be in excess of US$3.1 billion by the end of 2019. The projected figure represents an 18 percent increase in the US$2.62 billion recorded in the oil and gas industry in 2018. Total investment expenditure…
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Mining and quarrying sub-sectors push November Producer Price Inflation to 9.9 %
The Producer Price Inflation (PPI) saw an increase of 9.9 percent for November 2019. This represents a 1 percentage point increase from 8.9 percent in October 2019. The PPI measures the average change in the prices received by domestic producers for the production of their goods and services. Novembers’ Producer Price inflation which is the…
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Ghana records slowest GDP growth in 12 months
Provisional figures released by the Ghana Statistical Service shows that Ghana’s Gross Domestic Product, which is the total value of everything produced in the country grew by 5.6 percent in the third quarter of 2019. This is the slowest growth rate for Ghana’s economy since the second quarter of 2018. The economy grew at 5.4…
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FABAG urges tomato paste importers and producers to abide by FDA standards
The Food and Beverages Association of Ghana (FABAG), has charged its members to abide by the labeling rules and other standards for food items in the country. This follows the recent recall order by the Food and Drugs Authority (FDA) for products of some 16 tomato paste brands to be withdrawn from the market. According…
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Chamber of Mines calls for better engagement with stakeholders to sustain mining sector growth
The Ghana Chamber of Mines has called for prioritization of improved collaboration among all stakeholders in the mining sector in the coming year. This, the chamber says, will ensure sustained growth of the sector, which continues to be a key driver of economic growth in the country. According to the 2020 budget Statement and Economic…
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We’re disrupting corrupt behaviour in public service delivery through digitization – Bawumia
Vice President, Dr. Mahamudu Bawumia, says government’s efforts to digitize the economy have reduced the rate of corruption that characterizes service delivery systems in Ghana. He says many institutions that have moved their manual operations onto the digital space have eliminated intermediaries who mostly perpetuate these corrupt acts. “When you now move to places like…
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Banks charged between 14%-42% on loans from Jan-Oct. 2019 – BOG
Available data from the Bank of Ghana indicates that banks in the country charged as low as 14 percent as interest for loans given to households from January to October this year. 42 percent also happens to be the highest interest rate charged for loans given to households over the same period. These were captured…
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Local firms lack capacity to print currency notes — Bank of Ghana
The Head of Currency Management at the Bank of Ghana, John Gyamfi, says the Central Bank for the foreseeable future will continue to print Ghana’s currency notes with well-proven and trusted international companies as local companies lack the capacity to execute such jobs. The comment follows the revelation that the newly introduced GH¢200 and GH¢100…