Author: citibusinessnews
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All is not lost: Govt reacts to GSS’ 1.76 million unemployment report
The Deputy Minister of Employment and Labour Relations, Bright Wereko-Brobby, says the unemployment rate cited in the Ghana Statistical Service’s (GSS) labour statistics report is not as bad as it looks. Data from the Ghana Statistical Service indicate that about 1.76 million persons were unemployed by the third quarter of 2022. The report further indicated…
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GSS’ data on 1.76m unemployed persons alarming – Economist
Economics lecturer at the University of Ghana, Professor William Baah-Boateng, says the data on persons unemployed in the country is alarming. Data from the Ghana Statistical Service indicated that about 1.76 million persons were unemployed by the third quarter of 2022. The report further indicated that two out of every 3 persons employed during the…
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Ajay Banga selected 14th President of the World Bank
The Executive Directors of the World Bank today selected Ajay Banga as President of the World Bank for a five-year term beginning June 2, 2023. Ajay Banga most recently served as Vice Chairman at General Atlantic. Previously, he was President and CEO of Mastercard, a global organization with nearly 24,000 employees. Under his leadership, MasterCard…
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Ghana bags $3.5bn from non-traditional exports in 2022
The Value of Ghana’s Non-Traditional Exports increased to 3.5 billion dollars in 2022 from the 3.3 billion dollars recorded in 2021. This is contained in the annual non-traditional export statistics report 2022 revealed by the Ghana Exports Promotions Authority. The 3.5 billion dollars recorded in 2022 indicates a 6% increase over the 2021 NTE earnings…
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Gold Coast Fund customers picket at SEC to demand locked up cash
Aggrieved customers of collapsed Gold Coast Fund Management Company have returned to the Securities and Exchange Commission for Day 2 of picketing to demand the payment of their locked-up funds. The collapsed financial institution under the name BlackShield Capital Limited had about 55,000 customers whose funds were locked up shortly before the regulator revoked its…
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Momo agents threaten strike over delayed commission payments
Four mobile money associations are threatening to embark on industrial action over what it describes as undue delay in the payment of commissions. The Associations including Mobile Money Advocacy Group, Northern Momo Agents, ABAG and MM Agents Association of Ghana blamed the undue delay on audits of their transactions which they say delay payments of their…
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Demand better offers from developed countries – Bawumia tells African leaders
Vice President Dr. Mahamudu Bawumia has urged African countries to demand more from Western countries that seek development assistance. According to Dr. Bawumia, the West’s recent rush for Africa’s support means the continent must demand larger shares. His remark comes in the wake of what many regard as the superpowers’ desperation for Africa’s partnership. The…
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Traders in Kumasi express concern as new taxes kick in
Some traders in the Kumasi metropolis say trading activities are picking up slowly days after new taxes came into effect. The traders insist the introduction of the new taxes will further increase the cost of doing business. Traders who sell beverages and bottled water are accusing some wholesalers of intentionally creating artificial shortages of some…
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Ghana on course to secure IMF deal soon – John Kumah assures
The government has expressed hope of securing the Paris Club financing assurances within the shortest possible time to enable the 3 billion dollar support from the International Monetary Fund. This follows the government’s engagement with bilateral and multilateral partners at the recent IMF and World Bank Spring meetings in America. Addressing the media in Parliament,…
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Give Saglemi housing project to workers – Organised Labour
Organised Labour has called on the government to consider offering the Saglemi Housing project to workers to address their accommodation needs. The government in November 2022 announced plans to wash its hands off the Saglemi housing project to allow a private developer to refurbish the housing units and sell them to potential owners. Sector Minister,…