Author: Michael Ogbodu
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COPEC raises concerns over ‘high rates’ charged by major OMCS
The Chamber of Petroleum Consumers Ghana (COPEC) has expressed concern over what it describes as overcharging by the three major Oil Marketing Companies in the country. According to COPEC per data available to it for the first pricing window of the month, Petrol should retail at GHS 10.59 per litre and Diesel at GHS12.84 a…
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GUTA welcomes Ofori-Atta’s interim appointment to Trade Ministry
The Ghana Union of Traders Associations (GUTA) has welcomed the announcement of Finance Minister Ken Ofori-Atta as caretaker minister for the Ministry of Trade and Industry. President of GUTA, Dr Joseph Obeng believes with the support of the deputy ministers, work in the ministry should be able to progress steadily. “I think it’s in good…
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Increasing policy rate to check inflation not working, review approach – AGI to BoG
The Association of Ghana Industries (AGI) admonishes the central bank to review its strategy of an upward adjustment in the policy rate to check inflation. AGI thinks that the approach has over the period failed to address the challenge with inflation currently standing at over 40 per cent despite consistent hikes in the policy rate.…
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Telcos chamber hints of a likely increment in tariffs
The Ghana Chamber of Telecommunications says its industry members may have to increase their tariffs due to the present high cost of doing business in the country. Speaking to the media, the Chief Executive officer of the Chamber, Eng. Dr Kenneth Ashigbey justified the anticipated tariff increment by arguing that many sectors have already taken…
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Ride hailing app drivers call for fares to correspond with fuel price hikes
The Online Drivers Union is calling for an increase in their fares commensurate with the increment in fuel prices. Speaking to Citi Business News, the President of the Online Drivers Union, Francis Tenge believes their demand is critical to sustaining their livelihoods. “What we want is there should be a corresponding increment in the base…
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Manufacturers call on government to actively purchase made in Ghana goods
To grow the local economy and industry the government must lead the way by ensuring it prioritizes sourcing from local businesses and institutes policies to check foreign competition for such entities. Players in the manufacturing sector believe these parameters are critical amidst the present economic turmoil and will improve the country’s fortunes. Elisabeth Owusu Gyebi…
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Fuel prices cross GHs. 23.00 at the pumps
Fuel price has hit an all-time high at the pumps with Petrol selling at GHS17.99 per liter and diesel retailing at GHS 23.49 a litre. This comes barely three days after members of the Ghana Road Transport Union announced an increment in transport fares by 19 per cent due to the rampant increase in fuel…
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Construction Chamber joins calls for the removal of Finance Minister
There have been recent calls for the removal of the Finance Minister, Ken Ofori Atta from office and the Ghana Chamber of Construction Industry believes his sacking has been long overdue. Chief Executive Officer of the Ghana Chamber of Construction Industry, Emmanuel Cherry, believes the top job must be handed to a more competent person.…
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Ghana Mine Workers Union calls for increased local participation in sector
As the country’s economy continues to struggle and the cedi rapidly depreciates now might be the time to consider active local participation in the country’s extractive sector. The Ghana mine workers union believes this is critical to checking the repatriation of funds from the country abroad which have contributed to the dire state of the…
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GUTA calls for scrapping of benchmark value system
The Ghana Union of Traders Associations (GUTA) is calling for a scrapping of the Benchmark Value system. GUTA argues that now might be the right time to review the benchmark valuation method arguing that it was contrary to the World Trade Organization’s valuations system. This follows reports by GUTA that the Ghana Revenue Authority plans…