Author: Ebenezer Afanyi Dadzie
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Gov’t restores free water for 3 more months; free power for lifeline consumers
Government has in a further effort to cushion Ghanaians from the impact of the novel Coronavirus pandemic restored the free water for all Ghanaians by three more months. This comes after the free water and 50% reduction in electricity charges for three months ended at the end of June. For electricity however, the government extended…
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Ghana’s debt stock rises to GHS255.7 billion
Ghana’s debt stock has risen to GHS255.7 billion, as of June 2020. Some GHS50 billion has been added to the debt stock in the last 12 months. Provisional figures from the Finance Minister, Ken Ofori-Atta, indicated that the current debt stock is 66.36 percent of GDP. “The increase was mainly as a result of a Eurobond issuance…
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![Mortgages in Ghana – The myths and the facts [Article]](https://citibusinessnews.com/wp-content/uploads/2020/07/1-7.jpg)
Mortgages in Ghana – The myths and the facts [Article]
If you are renting now, buying a home could be a better financial decision. Of course, that depends on several factors such as; where you live, how much you pay now as rent, an available fit-for-purpose house you can afford, current mortgage interest rates and your aspirations. Taking your first steps towards home ownership –…
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NIC pushes for review of Motor Insurance Act to protect persons hit by gov’t vehicles
The National Insurance Commission, NIC, says it is seeking a review of the portion of the Motor Insurance Act, 1958, which exempts government registered vehicles from buying insurance policies. The Act stipulates that all vehicles must be covered for unlimited bodily injury and death compensation to third parties, such as fare paying passengers and pedestrians.…
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Renewable Energy remains a viable and cheaper alternative for Ghanaians – IES
The Executive Director of the Institute for Energy Security, IES, Nana Amoasi VII, has reiterated that the inclusion of renewables in the Ghana, and for that matter Africa’s energy mix is key in addressing not only energy supply need, but to replace costly fossil-fueled thermal power plants with more greener and cheaper types, with added…
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Over 500,000 stickers issued electronically through Motor Insurance Database – NIC
The National Insurance Commission, which regulates Ghana’s insurance sector, says it has already issued half a million motor insurance stickers using the newly introduced Motor Insurance Database, MID. According to the NIC, over time, the Motor Insurance Database will help to completely eliminate the phenomenon of fake insurance stickers. Speaking to Citi Business News, the…
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Vehicle & Asset Dealers Union demands review of Customs Amendment Act to save jobs
The Vehicle and Asset Dealers Union of Ghana (VADUG), has asked government to review the Customs (Amendment) Act, 2020, Act 1014, ahead of its implementation in October this year. The Act, passed on March this year, bans the importation of second hand cars of more than ten years old, as well as salvage cars, locally…
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Hotels & Tourist facilities encourage patronage as business picks up steadily
As economic activities pick up gradually following the partial easing of COVID-19 induced restrictions in the country, hoteliers and tourist site operators are urging members of the public to freely patronize their services. The continuous rise in Ghana’s COVID-19 case count appears to be creating some level of anxiety and apathy, leaving hotels and tourist…
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Finance Minister to present Mid-year budget review on July 23
The Finance Minister, Ken Ofori-Atta, is scheduled to present the mid-year budget review to parliament on Thursday 23rd July, 2020. This is in accordance with Section 28 of the Public Financial Management Act, 2016 (Act 921). According to Citi Business News sources, the presentation of the statement on the review of government projections for the…
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OPEC adjusts oil demand to 8.9m bpd as uncertainty cloud extension of production cuts
The Organization of the Petroleum Exporting Countries (OPEC), on Tuesday, July 14, revised downward its world oil demand in 2020, to an estimated 8.9 million barrel per day (bpd) adjusting it up by 0.1 million bpd against last month’s projection. OPEC’s projections enclosed in its July Monthly Oil Market Report, comes amid uncertainties clouding the…