Author: citibusinessnews
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#CitiBusinessFestival: Five highlights from forum on retail and consumer market
The Citi Business Festival’s forum on the changing face of the Ghanaian Retail Market discussed ways of businesses and take advantage of the Ghanaian retail and consumer space of consumer markets. They discussed how local businesses and manufacturers can better understand changes to their landscape and become more competitive. The forum will see Robert Ahomka-Lindsay,…
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Traditional retail regaining market share as shoppers return to low-taxed stores – Michael Kottoh
Managing partner at Konfidants, Michael Kottoh has expressed the impact of the recent revenue mobilization exercise by the Ghana Revenue Authority (GRA) on bigger supermarkets in the country. Mr. Kottoh disclosed that the GRA’s recent revenue drive revealed an interesting trend where traditional retail is beginning to recover and reclaim the market share the biggest…
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Reckless behaviour of rating agencies worsened Ghana’s economic woes – Akufo-Addo
President Nana Addo Dankwa Akufo-Addo has said that consistent downgrades of Ghana’s economy by credit rating agencies have contributed to the country’s current economic woes. Akufo-Addo said that such “reckless downgrades” are not in the best interests of developing countries like Ghana. Speaking at the 30th-anniversary celebration of the African Export-Import Bank in Accra, Akufo-Addo…
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Citi Business Festival: Forum on Retail and Consumer Markets comes off today
The 2023 Citi Business Festival is in its third week and will today bring the business community, panelists to examine how to balance growing consumer demands with market uncertainties. The third forum of the festival will hinge on how to survive the uncertainties of the retail and consumer markets under the topic, “The Changing Face…
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Ghana’s inflation expected to rise in coming months – Report
Ghana’s inflation rate is projected to climb over the next two months. That is the latest forecast from IC Research Africa. This is largely due to the unfavorable pricing effect of the three new taxes, as well as the recent increase in utility tariff. After four consecutive months of declines in headline inflation, Ghana’s disinflation…
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PURC sets guidelines on competitive procurement for electricity generation capacity and energy
The Public Utilities Regulatory Commission (PURC) on June 9, 2023, approved the rate setting guidelines for competitive procurement and supply of electricity generation capacity and energy for the regulated electricity market. According to the Executive Secretary of PURC, Dr. Ishmael Ackah, the purpose of these guidelines is to promote transparency and efficiency in the procurement…
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Cocoa farmers threaten to sell farms for galamsey if govt doesn’t increase price
Cocoa farmers in the Prestea-Huni-Valley Municipality of the Western Region have cautioned the government to immediately increase the price of cocoa, or they will continue to sell their cocoa farms for galamsey activities. The farmers, who spoke to Citi News in Damang, said the current cocoa price is a disincentive to farming, and that the…
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Govt to receive $6.2bn from multilateral partners – Ofori-Atta
Finance Minister, Ken Ofori-Atta has disclosed that the government is expected to receive about $6.2 billion from its multilateral partners between 2023 and 2026. While briefing the nation on the economy at the Ministry of Finance on Sunday, June 18, the Minister disclosed the government has come up with Ghana’s Post-COVID-19 Programme for Economic Growth…
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IMF deal not end to Ghana’s woes; real work just begun – Ofori-Atta
The Minister of Finance, Ken Ofori-Atta, has cautioned that securing the extended credit facility from the International Monetary Fund (IMF) will not mark the end of the economic challenges facing the country. Mr. Ofori-Atta, while giving an update on Ghana’s economy, indicated that the IMF-backed program is rather a precursor to the implementation of a…
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Corporate bodies urged to use AI to improve productivity
Stakeholders in the tech industry are urging corporate bodies in the country to leverage artificial intelligence (AI) to enhance their competitiveness in the globalized marketplace. The call comes on the back of the rapidly evolving landscape where AI technologies have proven to be instrumental in transforming businesses worldwide. Chief Executive Officer of Web and Software…