Author: Edna Agnes Boakye
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TOR workers demand dissolution of Board of Directors
The General Transport, Petroleum, and Chemical Workers Union of TUC (GPCWU) has urged the government to dissolve the board of directors at the Tema Oil Refinery (TOR). The union highlighted TOR’s achievements since the board’s appointment, tasked with securing a credible, strategic partner for TOR approximately 18 months ago. Nevertheless, the union has noted a…
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Cedi weakens against the dollar in October after months of relative stability
This week, the dollar has made a slight gain, by a few pesewas against the Bank of Ghana’s rate. According to the interbank forex rates from the Central Bank, the cedi is currently trading at GHS 11.13 against the dollar as of Monday, October 2, 2023. Despite widespread projections of cedi stability, currency analysts assert…
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Vodafone Ghana’s commitment to SMEs shines at Business Runway 2023
Vodafone Ghana has once again demonstrated its unwavering dedication to bolstering small and medium-sized enterprises (SMEs) in the country. This commitment took center stage at the recent Vodafone Ghana Business Runway 2023 event, where industry experts gathered to provide invaluable insights for SMEs looking to enhance their operations and achieve sustainable growth. The event featured…
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Inflation for August drops to 40.1% from 43.1%
Inflation has dropped to 40.1% in August 2023, from 43.1% recorded in July 2023. This means that in the month of August 2023, the general price level was 40.1 percent higher than in August 2022 Food inflation also decreased to 51.9% in August, from 55.0% in July. Inflation for imported products registered a rate lower…
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Economist questions ECOWAS member states’ commitment to ECO currency rollout
Professor of Finance at the University of Ghana Business School (UGBS), Professor Godfred Bokpin, has questioned the commitment of ECOWAS member states to implementing the ECO currency. Recently, a technical committee reported that member states failed to meet the criteria for ECO’s introduction, which encompassed maintaining a single-digit inflation rate annually, limiting the fiscal deficit…
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Ghana to host 2023 West African Monetary Zone mid-year statutory meetings
The Government of Ghana under the auspices of the Ministry of Finance and the Bank of Ghana, is set to host the 2023 Mid-Year Statutory meetings of the West African Monetary Zone (WAMZ) from 5th to 15th September 2023. The event, held in coordination with the West African Monetary Agency (WAMA), the West Africa Institute…
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Government achieves 95% participation rate in second round of DDEP
Government has achieved a 95% participation rate across its three latest debt exchange programmes. The Finance Ministry revealed that in the first program, which focused on pension funds, nearly 95% of eligible bondholders identified by the Central Securities Depository participated. Pension funds agreed to exchange GHS 29 billion out of the existing GHS 31 billion…
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NCA begins Digital Audio Broadcasting trial in Ghana with Citi FM, others
The National Communications Authority (NCA) has launched the trial phase of Digital Audio Broadcasting (DAB) in Ghana. This move establishes Ghana as the pioneer in West Africa and the fourth in Africa to embrace this innovation, which enables radio stations to extend their reach to cities beyond their immediate locations, giving them a wider audience.…
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Switzerland, China two other countries account for half of all exports from Ghana
Findings from the Ghana Statistical Service’s 2022 Trade Vulnerability Report indicate that four countries, account for over half of all exports while six countries are the source of about half of all imports. The countries are Switzerland, China, Canada and South Africa. The report further indicated that over two-thirds of all exports come from only…
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Ghana’s 2022 imports exceeded exports by GH₵4.5bn
Ghana faced a notable trade imbalance in 2022, as indicated by the inaugural Trade Vulnerability Report from the Ghana Statistical Service. The report reveals that the country’s imports exceeded its exports by GH₵4.5 billion, underscoring a significant economic challenge. The most striking contrast emerged in September, during which imports surpassed exports by over GHS4 billion.…