Author: Ellen Dapaah
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Manufacture of petroleum products push PPI to 31.2% in April
Recent data from the Ghana Statistical Service show that producer price inflation, the average price of goods and services received by domestic producers for their production activities, for the month of April has risen by 1.1% to a record 31.2%. This increment was mainly influenced by the manufacturing sub-sector, which constitutes more than two-thirds of…
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Agribusiness Chamber demands resignation of Agric Minister over sector woes
The Chamber of Agribusiness is demanding the resignation of the Minister for agriculture, Dr. Owusu Afriyie Akoto for his failure to address key challenges facing the sector. The chamber is threatening to embark on a strike followed by a demonstration if the ministry does not the minister does not resign. Although many industry players have…
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BoG’s inflation targeting framework can’t reduce rise in inflation – IEA
The Institute of Economic Affairs (IEA) is unhappy with the current approach being used by the Bank of Ghana in stemming Ghana’s inflation situation. According to the Institute, the inflation targeting framework being used by the Central Bank cannot provide a lasting solution to the country’s inflation problem hence must be avoided. In a paper…
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Monetary Policy Rate must be increased to 19% to check inflation – IEA
Amidst the continuous rise in inflation rate and calls for an intervention to stem the situation, the Institute of Economic Affairs (IEA) is projecting a 200 basis points increase in the monetary policy rate to 19 percent. This, it believes, will help narrow the gap with rising inflation and also ease to some extent the…
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Banking Consultant bemoans continuous charging of unfair fees by banks
Banking Consultant, Nana Otuo Acheampong, has bemoaned the continuous charging of some fees by some banks in the country contrary to directives from the Bank of Ghana. In June 2021, the Central Bank warned commercial banks and Specialised Deposit-Taking Institutions in Ghana to abolish some unfair charges in the banking sector. The directive was reiterated…
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Fuel shortage: New policy to ensure direct delivery of fuel products underway – NPA
Government is currently implementing a new policy to ensure the direct delivery of fuel products to the country’s ports without bulk distributors. The policy, which differs from the previous arrangement where BDCs dealt directly with international oil companies is meant to prevent any instances of fuel shortage in the wake of the Russian-Ukraine war that…
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Ghana needs more entrepreneurs to check imported inflation – Finance Minister
Finance Minister, Ken Ofori-Atta, has explained that the only way by which imported inflation in Ghana can be minimized is if the country is able to raise more entrepreneurs to produce locally. According to him, it is for this reason that the government is investing heavily in projects that can build an entrepreneurial society in…
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International Trade Center pledges support for the success of AfCFTA
The Executive Director of Geneva based International Trade Center (ITC), Pamela Coke-Hamilton, has pledged the center’s support for the success of the African Continental Free Trade Area (AfCFTA). The African Continental Free Trade Area has come as the largest market in the world, with an estimated market of about three trillion dollars. This continent-wide pack…
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Africa needs multimodal transport system to strengthen trade in AfCFTA – Krapa
As stakeholders in various sectors of the economy are continuously being urged to take advantage of the African Continental Free Trade Area, African countries are being urged to put in all efforts to increase logistics which will strengthen regional value chains in the continent-wide market. According to Deputy Trade Minister, Herbert Krapa, building a multimodel…
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Stakeholders call on policy makers to address upsurge in prices of goods
Following the recent announcement on the rise in the inflation rate in the country, industry players have intensified calls for an intervention to check the rising prices of goods and services in the country. Ghana’s economy has in recent times experienced a downturn. Stakeholders have cited the depreciating cedi, spike in fuel prices, inflation rates…