Author: Ellen Dapaah
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Post COVID-19 economic recovery: Stakeholders optimistic about MSME sector
As things begin to return to normal a year after the outbreak of the COVID-19 pandemic, stakeholders are hopeful of a quick and strong recovery in the various sectors of the economy. Micro, Small and M-sized Enterprises (MSMEs) in Ghana face higher credit constraints as banks lend to a limited number of firms and prioritize…
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Green Ghana project: Vodafone pushes agenda by planting 4,000 trees
As part of its Corporate Social Responsibility and efforts to protect and preserve the environment, telecom giant Vodafone Ghana has joined in the government’s Green Ghana initiative. The government on Friday began an ambitious exercise to plant five million trees as part of efforts to preserve the environment. The initiative was championed by the Forestry…
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Ameri deal: Contract sum reduced by 13% after renegotiation – Amin Adam
A Deputy Minister-designate for Energy, Dr. Mohammed Amin Adam, says the committee tasked by President Nana Addo Dankwa Akufo-Addo to renegotiate the contract sum of the Ameri power agreement succeeded in getting the amount reduced by 13%. He said the committee also managed to secure a favourable payment term for a $90 million amount that…
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Gold production output expected to rebound by 16% in 2021
The Ghana Chamber of Mines is confident gold production by its members will increase by over 15 percent in 2021 after declining by about 5 percent in 2020 due to the impact of COVID-19. Overall gold production in Ghana declined by 12.1% in 2020, the highest year-on-year decline since 2004. During his presentation at the…
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Inflation rate drops further to 7.5% in May; lowest in over a year
Ghana has, for the second consecutive time this year, recorded the lowest year-on-year inflation rate. The inflation rate recorded for the month of May 2021 was 7.5 percent, which is one percentage point lower than the 8.5 percent recorded in April this year. The figure falls within the government’s medium-term inflation target of 8.0±2 percent…
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MasterCard Foundation, Africa CDC to acquire vaccines for Africa with $1.3 billion
The Mastercard Foundation has announced that it will deploy $1.3 billion over the next three years in partnership with the Africa Centres for Disease Control and Prevention (Africa CDC) to save the lives and livelihoods of millions of people in Africa and hasten the economic recovery of the continent. The Saving Lives and Livelihoods initiative…
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![COCOBOD should eye $5 billion from inter cropping cocoa sector [Article]](https://citibusinessnews.com/wp-content/uploads/2020/09/cocoa-4.jpg)
COCOBOD should eye $5 billion from inter cropping cocoa sector [Article]
The cocoa sector, for many years, has become the backbone or support for our exchange rate stability. The government, through COCOBOD every year issues a syndicated loan between US$1 billion and US$1.5 billion, purposely for the forward sale of cocoa for particular crop season. This has curbed the seasonal sharp depreciation of our fiat currency,…
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#CitiBusinessFestival: Be strategic to attract loans – Yofi Grant to MSMEs
The Chief Executive Officer of the Ghana Investment Promotion Centre (GIPC), Yofi Grant, is admonishing Micro, Small and Medium-scale Enterprises (MSMEs) to make themselves attractive to have easier access to funds. “There are a lot of things happening in Ghana today that are global standards, but they’ve run short because of maybe packaging or the…
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![Ghanaians express varied opinions on 6% increase in minimum wage [Video]](https://citibusinessnews.com/wp-content/uploads/2021/06/cedi-notes.jpg)
Ghanaians express varied opinions on 6% increase in minimum wage [Video]
The recent increase in the national daily minimum wage has generated mixed reactions from Ghanaians. The 2021 National Daily Minimum Wage has gone up by 6 percent to GHS12.53 effective Friday, June 4, 2021, from the GHS11.82 that took effect on January 1, 2020. The wage, which is usually reviewed annually, is in pursuance of…
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Transport fares should’ve gone up more than 13% – Commercial drivers
Some commercial drivers in Accra are not happy with the 13% increment in transport fares. The Ghana Private Road Transport Union (GPRTU) announced a 13 percent increment in transport fares effective Saturday, June 5, 2021. The new fares will cover intercity ‘trotro’ vehicles, intercity long-distance vehicles and shared taxis. But interactions with these commercial drivers…