Category: Markets
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Poor handling of COVID-19 by U.S sees Pound strengthening against Dollar, Cedi and others
Despite the impressive performance of the Ghana Cedi against its major trading currency the U.S Dollar in the past few years, the currency appears to be struggling against the British Pound Sterling and the Euro. Although the Cedi in 2019 lost nearly 13 percent of its value against the US dollar, the performance blights the…
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AfCFTA: Reduce cost of power, address credit challenges to boost Ghana’s competitiveness – Konfidants
International advisory firm, Konfidants has urged government to devise strategies to strengthen the country’s existing trade relations on the African continent to take maximum advantage of the African Continental Free Trade Area (AfCFTA). Konfidants also advised government to among other things address the exorbitant cost of credit and power in order to prepare the country…
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GUTA to meet AMA over forceful take-over of electrical stalls at Opera Square
The Ghana Union of Traders Associations (GUTA) intends to later today, meet with officials of the Accra Metropolitan Assembly (AMA) over Monday’s demolition exercise and take-over of stalls at the Opera Square in Accra. GUTA says the meeting is to unravel circumstances leading to the siting of some containers by an unknown private developer possibly…
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GSE lauds suspension of taxes on capital gains on listed securities
The permanent removal of taxes on capital gains on listed securities in the country has been lauded by the Managing Director of Ghana Stock Exchange, Ekow Afedzie, describing it as critical to the growth of Ghana’s capital market. A capital gain is described as an increase in the value of any asset including stocks, over…
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Interim Trade Partnership Agreement signed between Ghana and UK
After years of negotiations, a new Interim Trade Partnership Agreement between the Republic of Ghana and the United Kingdom of Great Britain and Northern Ireland has been signed. The new Agreement replaces the Interim Ghana – European Union Economic Partnership Agreement which governed trade relations between Ghana and the UK until the Interim EPA Agreement…
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Tomato traders and transporters call off strike
Tomato trade in Ghana can once again go on smoothly. This is because the tomato traders and transporters association has called off the strike that they embarked on from Sunday, February 7th, 2020. The association had on several occasions, complained of attacks on its members by robbers on the Ghana-Burkina Faso highway, but efforts at…
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Price of goods and services up by almost 10%
Latest data released by the Ghana Statistical Service, GSS, indicates that on a year-on-year basis (January 2020 to January 2021), the average price of goods and services across the country increased by 9.9 percent. The rise in the inflation rate for January 2021, is however lower than the rate recorded for December 2020 by 0.5…
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Tomato shortage looms following traders and transporters’ strike
Ghana might soon be experiencing a shortage of tomatoes and a jump in price of the commodity, as a result of an ongoing indefinite strike by the tomato transporters association. The strike, which began on Sunday, February 7, 2021, according to the Association, is due to the silence of the Ministry of Food and Agriculture…
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Reduction in cost of debt critical as figure rises to nearly 75% of GDP – Economist
As Ghana’s debt stock continues to rise, reaching about 75 percent of GDP in the first eleven months of 2020, an economist with Databank, Courage Martey has charged managers of the economy to prioritize reducing the cost of debt going forward. What is noteworthy according to the 2020 mid-year budget statement is the fact that…
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Lack of UK-GH Brexit deal threatening jobs in tuna industry
The lack of a new trade deal between Ghana and the United Kingdom (UK) post-Brexit, is threatening thousands of jobs in the tuna industry in Ghana. So far, the UK has inked post-Brexit trade deals with 13 African countries including Kenya, Ivory Coast and South Africa among others, which allows them to export some of…