Author: Ellen Dapaah
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4.8% increase in GDP growth rate not surprising – Economist
The announcement of the expansion of Ghana’s economy does not seem to come as a surprise to some stakeholders in the finance space. Economist, Prof. Lord Mensah, is not impressed with the growth, asserting that the growth of the economy at the macro level does not reflect in the pockets of Ghanaians. The Ghana Statistical…
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Cocoa Management System almost ready – Deputy Agric Minister discloses
Deputy Minister for Food and Agriculture, Yaw Frimpong Addo has disclosed that the Ghana Cocoa Board’s fully traceable Cocoa Management System is near completion. Currently, purchased cocoa can be traced to the community level in Ghana. However, this traceability system does not start at the farm level, which can prevent cocoa companies or other sector…
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GDP growth rate exceeds target; increases by 4.8% in 2022 second quarter
Ghana’s economy has expanded by 4.8% year-on-year in the second quarter of 2022. “Provisional real quarterly gross domestic product (QGDP) growth rate, including Oil and Gas, is 4.8 percent (year on year) in the second quarter of 2022. In the same period of 2021, the growth was 4.2 percent.” Data from the Ghana Statistical Services…
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Ghana’s ailing economy: A look at the inflation trend in 2022
Ghana’s economy has overly performed poorly this year and with just three months left to the end of year, it doesn’t seem like there’s light at the end of the tunnel. Prices continue to soar for both food and non-food items of which transport, housing, utilities, and prices of imported goods are rising more than…
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Our members prefer fuel price reduction to fare increase – GPRTU
The Ghana Private Road Transport Union (GPRTU) believes its members are in favour of the government reducing fuel prices, not an increment in transport fares. Explaining why it is hesitant to increase transport fares, the General Secretary of the GPRTU, Godfred Abulbire, noted that “we don’t benefit a lot from the fare increments”. This comes…
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BOST holds first Annual General Meeting 29 years after its establishment
The Bulk Oil Storage and Transportation (BOST) Limited Company has held its maiden Annual General Meeting since its establishment in 1993. The event, which took place at the Movenpick Ambassador Hotel in Accra on Wednesday, September 14, 2022, had many dignitaries gracing it with their presence. The AGM also comes as a great achievement to…
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‘BOST Margin will not be taken off anytime soon’ – Energy Minister assures
The Minister of Energy, Dr. Matthew Opoku Prempeh, has assured that government will judiciously use the BOST Margin. The margin is a tax imposed on petroleum products, which is used to cover the maintenance and operating cost of petroleum product depots and expansion programs at the depots. Currently, it stands at nine pesewas per liter…
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Prof. Mensah expectant of another increase of the MPR as inflation still soars
Financial Economist, Prof Lord Mensah is hopeful that the Bank of Ghana will increase the Monetary Policy Rate (MPR) again to boost investor confidence in the country. His call comes ahead of the announcement of a new or maintained policy rate on September 27. The Bank of Ghana in an emergency meeting last month hiked…
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NPA orders 45 OMCs to settle PDM debt owed it by September 30
Forty-five Oil Marketing Companies (OMCs) have been given a 14-day ultimatum to settle debts owed the National Petroleum Authority (NPA). These debts, running into more than GHS400 million, are margins and levies owed to the Primary Distribution Margin Fund which have not been paid to the NPA. The defaulting companies include Glee Oil Limited, Apex…
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NDPC promises to work with gov’t to check food insecurity, unemployment rate
The National Development Planning Commission has pledged its commitment in working with the government to institute policies that will reduce the rate of poverty, food insecurity and unemployment in the country. This follows the release of the Annual Household Income and Expenditure Survey by the Ghana Statistical Service which showed that 49.1 percent of the…