Author: Nerteley Nettey
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Chamber for Tourism Industry seeks tax cuts to mitigate impact of COVID-19
In order to avoid or mitigate the impact of a possible recession as the novel Coronavirus continues to spread, operators in Ghana’s tourism and hospitality industry in Ghana are calling on government to urgently consider some financial support for the sector. According to them, this will aid in solidifying the gains made from the Year…
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Anamua Sakyi writes: Low prices induces cut-backs within the oil and gas sector
Brent crude is now trading below the US$30 per barrel mark compared to US$68.60 trading price recorded on January 03, on fears the deadly Covid-19 will push the world into recession with an oversupply of the commodity. Oil prices fell heavily at the open in Asia on Monday 23, 2020 after a trillion-dollar Senate proposal…
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Reduced policy rate must reflect on banks’ lending rates – Businesses insist
Businesses that have been impacted by the COVID-19 pandemic in Ghana are urging the Bank of Ghana to ensure that commercial banks revise their lending rates to reflect the reduction in the policy rate. According to them, this will enable them bridge the shortfall in the supply of some goods in the wake of the…
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GhIPSS to launch Universal QR Code and Proxy Pay platforms today
The Ghana Interbank Payment and Settlement Systems, GhIPSS, will on Wednesday, March 25, 2020, launch the Universal QR Code and Proxy Pay platforms as part of measures to enhance digitized payments as the government pursues its cashless agenda. The code will among other things help businesses including those in the informal sector accept payments for…
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Ghana Association of Bankers to support COVID-19 fight with GHS10m
As part of efforts to mitigate the impact of the Coronavirus on the financial services sector, the Ghana Association of Bankers has announced that it is donating ten million Ghana Cedis (GHS 10,000,000.00) to government, towards the purchase of critical equipment for managing the COVID-19 pandemic and for the purposes of public education. “This is…
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Lockdown in Ghana will hit informal sector hard; subsidies may be needed – Dr. Sarkodie
An economist, Dr. Adu Owusu Sarkodie, has stated that majority of Ghanaians who work in the informal sector will be impacted heavily should government order a lockdown as a stern measure to contain the spread of the coronavirus. Following the steady increase in the number of recorded cases of COVID-19 in Ghana, there have been…
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Implement a lockdown if necessary to curb COVID-19 spread- TUC tells Gov’t
The Trades Union Congress, TUC, has called on government to implement “more aggressive measures” to curb the continuous spread of the novel coronavirus in the country. According to the TUC, government should implement a total lock-down if need be. A lockdown is a state of isolation or restricted access instituted as a security measure in…
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ACEP pushes for supplementary budget to manage impact of low oil prices, COVID-19
The African Centre for Energy Policy, ACEP, is calling on government to prepare a supplementary budget that will help manage the effects of low oil prices on the market. According to ACEP, the impact of revenue shortfalls from the oil and gas sector due to price volatility on the international market, has severe implications for…
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Containing COVID-19: GhIPSS removes charges on all electronic payments
As part of efforts to promote and encourage the use of digital payment options to limit the possible spread of the Coronavirus through the use of cash, the Ghana Interbank Payment and Settlement Systems Limited (GhIPSS), has waived off fees on all electronic payments services used by its partner financial service providers. The fee waiver,…
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Containing COVID-19: GUTA urges traders to do business but with caution
The Ghana Union of Traders’ Association (GUTA), is urging the trading public to go about their businesses while they adhere to the health and safety protocols aimed at curbing the spread of the Coronavirus pandemic as put out health officials. This follows the announcement by the Accra Metropolitan Assembly, AMA, to disinfect some selected markets…