Author: Nii Larte Lartey
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KY Amoako advocates constitutional changes to bolster economic growth
The African Centre for Economic Transformation (ACET) has identified changes in the constitution as one of the pivotal ways of driving transformation in the face of Ghana’s current economic quagmire. The Centre makes the point that although the constitution shas aided some economic growth, the present situation requires amendments for the tough times ahead stressing…
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Chamber of IPPs orders members to suspend power supply from July 1
There is an impending power crisis as the Chamber of Independent Power Producers (IPPs) has directed its members to cut supply to the national grid from July 1. The directive to nominate nothing and not declare an availability of power to the system operator is to last till July 8. Members of the Chamber include…
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Forex licences of Fidelity Bank, First National Bank temporarily suspended
The forex licenses of Fidelity Bank Ghana Limited and First National Bank Ghana Limited have been suspended temporarily. This is because, the two financial institutions have breached some sections of the Ghana Interbank Forex Market Conduct rules, according to the Bank of Ghana (BoG). The Central Bank which meted out the sanction has also fined…
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Citi Business Festival: 8 insights from forum on agribusiness ecosystem
The fourth and last forum of the 2023 edition of the Citi Business Festival forum focused on the agriculture value chain. The forum aimed to explore the theme “Understanding and Leveraging Agribusiness Value Chains” and how the sector’s advantages can be tapped. Distinguished speakers participated in the event, sharing their insights on the topic. Kwasi…
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MTN suspends July 1 new MoMo charges
Telecommunication giant, MTN has suspended its planned adjustments in Mobile Money (MoMo) charges scheduled to have taken effect from July 1, 2023. Earlier, the telco said transactions up to GH¢2,000 were to see a one percent charge and a flat rate of GH¢20 for transactions above GHS 2,000. But MTN now says the decision has…
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UK announces partnerships with Africa and Caribbean to help manage debt and deal with climate crises
The UK has today June 22, 2023 announced new partnerships with developing countries to support their economic resilience in the wake of climate crises. The UK’s export credit agency UK Export Finance (UKEF) will work with twelve partner countries in Africa and the Caribbean to allow them to defer debt repayments if they are hit…
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IPPs issue reminder to shut down from July 1 over unpaid arrears
The Independent Power Producers (IPPs) have threatened to suspend power supply beginning July 1, 2023 if the government does not give them an interim payment of 30% of their outstanding arrears. The IPPs agreed at an emergency meeting on Tuesday that if they do not receive payment, they will be unable to power the national…
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BoG projects inflation to remain above 10% until 2025
The Bank of Ghana (BoG) is projecting a downward trend of inflation until the end of the 2025 barring any unanticipated shocks. However, it anticipates the upper band of 8±2 to remain percent during the same period. This means, inflation will remain above 10 percent till the next two years. These projections were captured in…
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World growth holding up, but interest rates to peak higher – Fitch
Global growth is showing near-term resilience but with core inflation remaining stubbornly high, central banks will have to continue tightening policy in the coming months, says Fitch Ratings in its June Global Economic Outlook (GEO), released today. With monetary policy adjustments and their impact on the economy proving more protracted, the global growth outlook for…
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#CitiBusinessFestival: Eight ways e-commerce is changing face of Ghana’s retail market
E-commerce has grown in Ghana at least over the last decade. The use of online platforms in transacting business has been on the rise and that aspect of the Ghanaian trade space continues to develop. As part of the Citi Business Festival 2023, the spotlight was put on Ghana’s retail and consumer market. The on-air…