Author: Bobbie Osei
-
Delay in passing E-Levy likely to affect GHC 6.9 billion target – Ofori-Atta
The Finance Minister Ken Ofori-Atta says it is unlikely that government will be able to achieve the GHC 6.9 billion target set for the Electronic Transfer Levy (E-levy). According to him the many delays and hurdles experienced in parliament before the E-levy bill was passed will affect the ability of the Ghana Revenue Authority (GRA)…
-
![Stakeholders call for subsidies, tax exemptions to boost adoption of electric cars [Video]](https://citibusinessnews.com/wp-content/uploads/2022/03/The_Rising_Trends-of-Electric-Vehicles-1.jpg)
Stakeholders call for subsidies, tax exemptions to boost adoption of electric cars [Video]
Stakeholders in Ghana’s nascent electric car space are calling for tax breaks and subsidies to boost the adoption of electric cars in the country. According to the Energy Commission of Ghana, there are over a thousand full electric and semi-electric vehicles on the country’s roads. But is there room for increased adoption, and what needs…
-
Gov’t in denial over situation with food security in Ghana – GAWU reacts to SONA
The Ghana Agricultural Workers Union (GAWU) says that Ghana is far from being secure in food production despite the progress made in the agriculture sector under this government. The remarks follow the comments made by President Akufo-Addo about Agriculture during the delivery of his state of the nation address on Wednesday, March 30, 2022. Ghana…
-
Ghana’s international air traffic in 2022 should exceed 2.1 million – Aviation analyst
Total international air traffic for Ghana via the Kotoka International Airport (KIA) should exceed 2.1 million people by the end of 2022, as a result of the latest easing of measures announced at the airport by President Akuffo-Addo on March 27, 2022. This is according to Aviation Analyst Sean Mendes. According to the President, fully…
-
Reversal of COVID-19 era reliefs to banks will mop up excess liquidity – Nana Otuo
Banking consultant Nana Otuo Acheampong is confident that the reversal of the COVID-19 era reliefs given to Universal Banks, will help in mopping up excess liquidity within the banking system. According to him, instead of lending to the private sector, banks in the country continue to use the excess liquidity they have to buy treasury…
-
BoG advises against negative speculation about the Ghana Cedi
The Bank of Ghana has called out persons and groups that continue to negatively speculate about the Ghana Cedi with the hope that the local currency will continue to depreciate against the US Dollar. While data from the Central Bank shows that the Cedi had depreciated by about 15%, in the first 3 months of…
-
Hike in policy rate will affect lending rates – Banking Consultant
The recent hike in the monetary policy rate by 250 basis points to 17% by the Monetary Policy Committee (MPC) of the Bank of Ghana (BoG), will inevitably lead to an upward adjustment in average lending rates to businesses and individuals. The Monetary Policy Rate, which is of keen interest to businesses, signals the rate…
-
Bank of Ghana increases policy rate to 17%
The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has increased the policy rate by 250 basis points to 17 percent. This is the first time the Central Bank has increased the key rate since November of last year. The rate, which is of keen interest to businesses, signals the rate at which…
-
Public debt stock rises above GH¢ 350 bn by Dec., 2021; more than 80% of GDP
Latest data released by the Bank of Ghana puts Ghana’s total public debt stock as at December, 2021, at US$ 58.6 billion or GH¢351.8 billion. The amount is equivalent to 80.1% of Ghana’s Gross Domestic Product, the highest level recorded in recent history. In Cedi terms, the total debt stock increased by about GH¢7.3 billion…
-
UMB is focused on building its SME portfolio and digital-first positioning – CEO
The Chief Executive Officer of the Universal Merchant Bank (UMB) Nana Dwemoh Benneh says the bank is focused on building a strong Small and Medium-Sized enterprises portfolio while making inroads into becoming one of the leading digital-first banks in the country. The remarks come as the bank celebrates its 50th anniversary. Universal Merchant Bank (UMB)…