Category: Markets
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Rising inflation rate could derail economic targets—Prof. Quartey
Professor of Economics at the Institute of Statistical Social and Economic Research (ISSER) Prof. Peter Quartey, has expressed concerns about the rising inflation rate in the country. From the beginning of the year, the Consumer Price Inflation (CPI) rate has risen consecutively on 3 occasions. The CPI, which measures the change over time in the…
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April inflation rises marginally to 9.5 percent
Inflation recorded for April 2019 rose marginally to 9.5 percent year-on-year. April’s inflation is an increase over the March figure of 9.3 percent. Despite the slight increase, the year-on-year comparison indicates a drop in the inflation rate from the 9.6 percent recorded in April 2018 to 9.5 percent in April 2019. Presenting the figures to…
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AU delegation in town to assess Ghana’s bid to host African Continental Free Trade Area HQ
A 10-man delegation from the Africa Union (AU) is in the country to assess Ghana’s preparedness and facilities to successfully host the African Continental Free Trade Area Secretariat in Accra. The delegation, led by Ambassador Rosette Nyirinkindi Katungye, AU Advisor on Regional Integration, will spend the next seven days meeting government officials and inspecting facilities…
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Stakeholders in banking sector must build trust—Prof. Atuahene-Gima
Founding President of the Nobel International Business School, (NiBS), Professor Kwaku Atuahene-Gima has advised stakeholders in the banking sector to do more to build trust after the collapse of some 7 local banks. According to him, lack of trust in the banking sector can be attributed to the mishaps the sector has experienced in recent…
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Republic Bank appoints Farid Antar as new Managing Director
The Board of Directors of Republic Bank (Ghana) Limited has appointed Mr. Farid Antar as the Managing Director of the Bank, following receipt of regulatory approval from the Bank of Ghana. Mr. Antar succeeds Mr. Anthony Jordan who retired from active service in April 2019. Mr. Farid Antar is an experienced Banker with over 39…
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BoG to circulate upgraded cedi today
The Bank of Ghana (BoG) will today begin the circulation of its enhanced GHS10, GHS20 and GHS50 notes. According to the Bank of Ghana, both the old and the new notes will be used concurrently until the old ones are phased out. New features on the new notes include a gold stripe, a watermark, a…
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Economist lauds BOG’s directives on forex importation and exportation
A financial economist Dr. Lord Mensah has welcomed the Bank of Ghana’s(BoG) directives on the importation and exportation of foreign currency in and out of Ghana. The Central Bank in a notice to the general public has warned of serious repercussions for any person arriving in or departing from Ghana with undeclared amounts in excess…
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Funds of 5 collapsed investment companies safe–SEC
The Securities and Exchange Commission (SEC) has assured customers of five collapsed fund management firms that their investments are safe. Last week, the S.E.C revoked the licenses of the companies for breaching rules guiding their operations. The companies include; Georgetown Capital Partners Limited, Equity Capital Limited, Index Analytics Limited, DM Capital limited and Oxygen Advisory…
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Producer Price of cocoa cannot be increased now–COCOBOD to Minority
The Ghana Cocoa Board has chastised the minority for calling for an increase in the producer price of cocoa, saying COCOBOD has been vindicated for taking steps to maintain the producer price at GHC 7,600 per tonne despite cocoa prices’ bad performance on the international market in recent years. The comments follow a recent call…
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Govt cautioned to maintain fiscal discipline to sustain Cedi stability
Majority of participants at the Graphic Business Stanbic Bank Breakfast Meeting have cautioned government to maintain fiscal discipline to help sustain the stability of the Cedi against other trading currencies, especially the US Dollar. According to them, there is the need to follow fiscal policies that will create room for a balanced trade market to…