Author: Nerteley Nettey
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AfCFTA: Businesses urged to focus on producing quality products
As businesses are jostling to take advantage of the Africa Continental Free Trade Area (AfCFTA), Chief Executive Officer of the Ghana Investment Promotion Centre (GIPC), Mr. Yofi Grant says the commencement of operations of the agreement, gives Ghanaian manufacturing companies the opportunity to upgrade the production of their goods and services. According to him, this…
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COVID-19: Business owners urged to be measured in reducing employee numbers
National Project Coordinator for Sustaining Competitive and Responsible Enterprises (SCORE), a project under the International Labour Organisation, ILO has stated that reducing the number of employees in the current economic environment, as part of measures to control the negative impact of COVID-19 on businesses, is not the best decision for business owners. According to him,…
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Adverse impact of COVID-19 causes decline in exports and imports – BoG data
Latest data from the Bank of Ghana’s Summary of Macroeconomic and Financial Data for January 2021, indicate that the country’s external sector continues to suffer adversely from the impact of the novel coronavirus pandemic. According to the data, the value of the country’s total exports decreased to 1.4 billion dollars in 2020, from the $1.5…
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Monetary Policy Rate maintained at 14.5% for fifth time
In its quest to review developments in the economy and take the necessary steps to ensure financial and economic stability, the Monetary Policy Committee of the Bank of Ghana has maintained the policy rate at 14.5 percent. This is the fifth time the Central Bank has maintained the policy rate at 14.5 percent. In a…
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Mastercard, UNICAF offer cardholders 75% scholarships for internationally recognized degrees
Unicaf, the leading online and on-campus learning platform, has entered into a two- year partnership with Mastercard to offer its premium cardholders 75% scholarships for online and on-campus studies at Unicaf’s partner universities. A statement issued by Unicaf stated that starting, first quarter of 2021, Mastercard Gold, Platinum, World and World Elite cardholders across 12…
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Fuel prices to go up slightly in 1st pricing window of February – IES
Consumers of petroleum products should be paying slightly higher prices for the fuel they purchase at the country’s various pumps for the next two weeks which is the first pricing window for February, 2021. According to an analysis by the Institute of Energy Security, IES, the increase can be attributed to the 3.9% increase in…
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Mobile Money Interoperability transactions went up by 367% in 2020
Latest data from the Ghana Interbank Payment & Settlement Systems (GhIPSS), indicate that a total of 43.9 million transactions were processed under the Mobile Money Interoperability (MMI) system in 2020, representing a 367% increase from the 9 million transactions processed in 2019. According to the report, the MMI performance was driven by three use cases…
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Digital transactions for 2020 up by 103% – GhIPSS report
In spite of the ravaging impact of COVID-19 on people’s lives and the operations of businesses in Ghana, digital payment and settlement products under the Ghana Interbank Payment & Settlement Systems (GhIPSS) saw impressive increases in both volume and value for the year 2020 compared to the same period in 2019. Latest data from GhIPSS…
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AfCFTA: Plans far advanced to complete protocol on Women in Trade – Wamkele Mene
Secretary-General of the African Continental Free Trade Area, AfCFTA, Wamkele Mene has disclosed that plans are far advanced to complete the Protocol on Women in Trade to facilitate greater trade opportunities for women under the trade agreement. According to him, women play a significant role in trade in Africa and will be essential to the…
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Ghana card identification number to replace TIN in April 2021 – GRA
Effective April 1, 2021, taxpayers will be required to use the Ghana Card Identification Number for tax purposes. This is according to the Ghana Revenue Authority, GRA. The Authority states that this forms part of efforts to identify and rope in more eligible taxpayers, especially those in the informal sector and enable organizations to easily…