Category: Markets
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Managing Director of Ghana Stock Exchange, Kofi Yamoah retires in October
The Managing Director of the Ghana Stock Exchange, Mr. Kofi Yamoah is set to retire from his position later this year [October 2019]. Mr. Yamoah has worked at the Ghana Stock Exchange for about 29 years and was appointed Managing Director of the bourse in 2003. He is a Chartered Accountant and an Investment Banker…
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Government must borrow from domestic sources — Isaac Adongo
Isaac Adongo, the Member of Parliament (MP) for Bolgatanga Central constituency, has called on government to consider the concept and realisation of domestic borrowing instead of foreign borrowing. Mr. Adongo also a member of the Finance Committee of Parliament, said the challenge was that when a country borrowed a lot from external sources, it…
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Managers of Ghana Stock Exchange introduce new initiatives to improve 2019 performance
Investors on the Ghana Stock Exchange(GSE) should expect a marginal increase on returns for 2019 after the local bourse recorded a negative performance in the preceding year. According to managers of the GSE, far reaching initiatives are being taken to improve the performance, relative to 2018. “The initiatives include: preparation and adoption of new strategic…
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Parliament calls for urgent measures to address mounting energy debt
Parliament has called on the Minister of Finance and the Minister of Energy, Mr John Peter Amewu to as a matter of urgency, activate the cash waterfall scheme and other prudent measures to address the debt accumulation in the energy sector. The lawmakers further called on the Minister of Finance, Mr Ken Ofori Atta…
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‘Findings about supermarkets’ low retail of made in Ghana goods should inspire action’
The Ghana National Chamber of Commerce and Industry (GCCI) has called for a sustained effort by multiple stakeholders in the promotion of quality made in Ghana products. The comments follow recent research conducted by Konfidants, an international business advisory firm, which shows that goods manufactured locally are struggling to make it to the shelves of…
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We’re ready for AfCFTA Implementation – ECOWAS Brown Card Secretariat
The Secretariat which is responsible for coordinating the implementation of the ECOWAS Brown Card Insurance Scheme says it is engaging with key stakeholders across the continent, to ensure that the insurance scheme remains robust even as the African Continental Free Trade Agreement (AfCFTA) comes into force this month. The African Continental Free Trade Agreement (AfCFTA), signed by 44 African countries,…
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‘Invest in infrastructure to make continental free trade agreement a success’
African countries that are set to take part in the African Continental Free Trade Agreement must invest in regional infrastructure in order for it to succeed. This is according to the Former Governor of the Central Bank of Nigeria, Charles Soludo. The Agreement, which is expected to see full implementation this month is aimed at…
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Risk of overspending budget in next year’s elections real — World Bank Country Director
The outgoing Country Director of World Bank, Henry Kerali, says the risk of government overspending in next year’s election is real despite a number of initiatives put together after the country exited the IMF programme this year. Mr. Kerali speaking at the launch of the World Bank’s fourth Ghana Economic Update said Ghana’s true progress…
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Inflation rate for May declines to 9.4 percent
The inflation rate for May 2019 dropped marginally to 9.4 percent from the 9.5 percent recorded in April 2019. This represents a 0.1 percentage point decrease. According to the Ghana Statistical Service (GSS), the price drivers for last month’s rate were food and non-food items. In an interview with Citi Business News, the Deputy Government…
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Taft Group signs MoU with Ghana Commodity Exchange
Taft Group of companies, led by Taft Capital, on Monday 20 May 2019 signed a Memorandum of Understanding (MoU) with Ghana Commodity Exchange (GCX) in a bid to transform Ghana’s Agriculture sector. The agreement seeks to provide the exchange with innovative solutions through ICT, access to markets, Warehousing, Logistics, and Funding. The MoU sees the…