Author: Nerteley Nettey
-
Producer price inflation increases to 6.8% for March
The Producer Price Inflation (PPI) for March 2020 has increased to 6.8 percent, new data released by the Ghana Statistical Service (GSS) has indicated. This rate represents a 3.7 percentage point decrease in producer inflation relative to the rate recorded in February 2020 which was 10.5 percent. This rate also indicates that between March 2019…
-
COVID-19: Ghana’s case count hits 1,154 with 120 recoveries
Ghana’s novel Coronavirus cases have increased from 1,042 to 1,154 with 120 recoveries. However, the number of deaths still remain at 9. This was revealed by the Ghana Health Service (GHS) at a press briefing on Wednesday, April, 22, 2020. This shows that 112 new cases have been confirmed with 21 more people recovering since…
-
Build capacity for local rice production to avoid shortage amid COVID-19 – Rice farmer urges Gov’t
Ghana risks a shortage of some agric produce particularly rice by the latter part of this year and into 2021, if government fails to build the capacity of players in the local rice value chain to boost production. That’s according to the Executive Director of Western Deedew Group Limited, a local rice production company in…
-
Halting dividend payments to shareholders necessary to protect banks – Banking consultant
Banking Consultant, Nana Otuo Acheampongm says the Bank of Ghana has the power to undertake periodic assessment of the financial sector to protect depositors’ funds as the country fights the COVID-19 disease. His assertion follows a directive by the central bank to all banks and Specialized Deposit Institutions (SDIs), to desist from declaring and paying…
-
Oil production in Ghana threatened by continuous drop in Brent crude prices – IES
The Institute of Energy Security, IES, says oil producers in Ghana may be compelled to halt their production if the global price of Brent Crude continues to fall. The price of US oil turned negative for the first time in history on Monday, 20th April, 2020. By this, oil producers are paying buyers to take…
-
![Rapid Credit Facility vrs Extended Credit Facility; restoring Ghana’s economy after COVID-19 [Article]](https://citibusinessnews.com/wp-content/uploads/2020/04/Emma-Picture.jpg)
Rapid Credit Facility vrs Extended Credit Facility; restoring Ghana’s economy after COVID-19 [Article]
The International Monetary Fund (IMF) Executive Board on 13th April, 2020 approved the disbursement of US$ 1 billion to be drawn under the Rapid Credit Facility (RCF). The disbursement will help address the urgent fiscal and balance of payments needs that Ghana is facing, improve confidence and catalyze support from other development partners. The RCF…
-
Paa Kwasi Anamua Sakyi writes: Women in energy; closing the inequality gap
The issue of inequality at the workplace have been discussed extensively by many authors. But one sector in which women’s participation is below that of the broader economy, is the energy sector. Despite making up 48 percent of the global labour force, women only account for 22 percent of the labour force in the oil…
-
Shippers’ Authority officially suspends rent and demurrage charges for cargo during partial lockdown
The Ghana Shippers’ Authority has officially written to inform the Ghana Ports and Harbours Authority, GPHA, and all other players in the shipping industry that it has waived off charges on “demurrage/detention and storage rent charges” on all cargo which have remained uncleared at the ports from March 30, 2020 to April 19, 2020. This…
-
COPEC urges Gov’t to assist BOST to store more oil reserves
As concerns continue to mount over lack of storage facilities to store oil in the US, the Chamber of Petroleum Consumers, Ghana, (COPEC) is calling on government to help the Bulk Oil Storage and Transport (BOST), ‘to get a good credit line or an open credit system in place immediately to stock oil at this…
-
COVID-19 social interventions should have been targeted to make impact and reduce cost – Ken Thompson
The Chief Executive Officer of Dalex Finance, Ken Thompson, says government’s social intervention programmes aimed at bringing some relief to Ghanaians in the fight against COVID-19 would have made much impact if it was targeted at the poor. According to him, some Ghanaians do not need their utility bills to be subsidized since they’re better…