Author: Ellen Dapaah
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MoMo agents lament shortage of cash following panic withdrawals over e-levy
Panic withdrawals ahead of the implementation of the electronic transfer levy on Sunday left agents who operate mobile money business, otherwise known as MoMo, idle. When Citi Business News visited the Nima and Accra Newtown enclaves in the Greater Accra Region, many of the agents confirmed a shortage of cash due to the rush from…
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More focus on agric sector will aid gov’t in achieving 2022 GDP growth target – Economist
After a challenging two years against the backdrop of the COVID-19 pandemic, Ghana is seeking to return to a path of economic growth comparable to pre-pandemic levels but several global and local factors are militating against projections. In the 2022 budget, the government projected an overall real GDP growth rate of 5.8 percent. But some…
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Volkswagen to introduce auto financing schemes to boost patronage of locally assembled cars
In a bid to set the appetite of the Ghanaian vehicle market towards the acquisition of locally manufactured cars, German vehicle manufacturer, Volkswagen, is set to introduce an auto financing plan. According to the company, there will be collaboration with local banks to set up the auto financing model. This among others will reduce the…
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Use of Public Enterprises League Table to assess performance of SOEs to begin in May – Minister
As part of efforts to help identify state owned enterprises that are struggling for government to extend the necessary support, the Ministry of Public Enterprises is set to begin the use of a Public Enterprises League Table starting from next month, May, 2022. The sector minister, Joseph Cudjoe, believes the league table will help keep…
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COCOBOD responds to Ablakwa on board of directors’ fees and allowance
The Ghana Cocoa Board (COCOBOD) has denied claims by the Member of Parliament for North Tongu, Samuel Okudzeto Ablakwa on the payment of some allowances to directors of the Board. In a Facebook post, Mr. Ablakwa stated that, “Discussions on government expenditure cuts must assume a much broader scope. Take the Ghana Cocoa Board which…
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Meta launches #NoFalseNewsZone campaign to minimize spread of false news in Ghana
Social media has become an important mode for the public to communicate and obtain relevant information by virtue of its unlimited access. However, due to the lack of online supervision and user anonymity, the line between true information and misinformation is not always easy to distinguish, which makes the public often face the risk of…
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Economist optimistic that Ghana’s economy will perform better in 2022
Economist, Dr. Patrick Asuming, is optimistic that Ghana’s economy will record a higher growth rate by the end of this year. Provisional data from the Ghana Statistical Service shows that Ghana’s economy expanded by 5.4% in 2021, far higher than the 0.4% recorded in the year 2020. The new figure exceeds the 2021 GDP growth…
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Republic Bank’s profit after tax grows by 60%
The Republic Bank Ghana Group, a subsidiary of Republic Financial Holdings Limited, has recorded a strong improvement in its financial performance for the year 2021, with about 60 percent growth in its profit after tax. The bank’s profit after tax, which stood atGH¢56.5 million in the pandemic year of 2020, saw a massive jump to…
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GDP growth rate increases to 5.4% in 2021; exceeds 5.1% budget target
Provisional figures released by the Ghana Statistical Service show that Ghana’s economy grew by 5.4% in 2021. The figure which was released by the Government Statistician shows that the growth rate of the economy exceeded the 2021 Gross Domestic Product (GDP) growth rate of 5.1 percent captured in the 2021 mid-year budget. Ghana’s economy grew…
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Manufacturing sub-sector pushes PPI for March 2022 to 29.3% from 21.4%
The year-on-year producer price inflation for March 2022 has risen to 29.3 percent, according to data from the Ghana Statistical Service. This rate represents a 7.9 percentage point increase in the average price of goods and services received by domestic producers in the country for their production activities relative to the 21.4 percent recorded in…