Category: Markets
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Shift focus from upscaling to upgrading – Ofosu-Dorte urges businesses
Stakeholders in Ghana’s manufacturing sector are being encouraged to prioritize upgrading over upscaling when it comes to goods and services emanating from Ghana into other African countries as part of the African Continental Free Trade Area (AfCFTA). Trade data from the United Nations Conference on Trade and Development (UNCTAD) shows that a handful of countries…
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![Stationery retailers enjoying gradual sales boom following schools reopening [Video]](https://citibusinessnews.com/wp-content/uploads/2021/01/stationery.jpg)
Stationery retailers enjoying gradual sales boom following schools reopening [Video]
After experiencing lacklustre sales for close to a year, businesses in the stationery value chain have begun witnessing a slow rise in patronage following the ongoing reopening of schools across the country. The businesses however insist it will take time before they are able to record pre-COVID level of sales. Citi Businesses News hit the…
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SEC refers CHY Century Heng Yue Group Limited to EOCO
The Deputy Director-General Legal, of the Securities and Exchange Commission, Mrs. Deborah Mawuse Agyemfrah has told Citi Business News that the case involving CHY Century Heng Yue Group Limited and SAIRUI E-Commerce Ghana Limited, has been referred to the Economic and Organised Crime Office (EOCO). In a press release dated January 8, 2021, the SEC…
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Key reforms needed to exceed 1.4% World Bank growth forecast – Economist
An economist at the University of Ghana Business School, Dr. Patrick Asuming says the current socio-economic climate which is heavily influenced by the COVID-19 pandemic, provides government an opportunity to introduce and implement key reforms that will boost domestic revenue as well as economic growth. Per the World Bank’s 2021 Global Economic Prospects report, even though growth…
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Ghana Stock Exchange returns -13.98 % in 2020, lowest in over half a decade
After returning losses to investors for the first three quarters of 2020, the Ghana Stock Exchange returned a gain of 5.2 % for equity investors in the fourth quarter, a development which should continue in 2021 and lead to the first positive return in a year for the local bourse since 2017. That’s according to…
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BoG Governor confident of cedi’s stability in 2021 after 3.8% depreciation in 2020
Governor of the Bank of Ghana, Dr. Ernest Addison is confident the reserves it has amassed so far, coupled with other measures to be implemented by the government in 2021 should see the local currency remaining stable throughout this year. The cedi which depreciated by 3.8 percent against the dollar in 2020, outperformed many of…
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Stakeholders charged to eliminate barriers likely to impede success of AfCFTA
Secretary-General of the African Continental Free Trade Area (AfCFTA) Wamkele Mene, says signatories and other stakeholders to the trade agreement are aware there will be a period of protectionism in the various countries even after AfCFTA comes into force from January 1, 2021. According to the World Bank, AfCFTA will lift 30 million Africans out…
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Market fires: GUTA demands compensation for affected traders
The Ghana Union of Traders Association (GUTA) is demanding compensation for all traders whose shops have been affected in the market fires recorded in the country in recent times. Several markets, including the Odawna, Kantamanto, and the most recent one, the Kaneshie market have been razed by fire within the last two months. The President…
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Business activities yet to pick up days after elections
Ahead of election years in Ghana, traders usually complain about a slowdown in economic activities. Several interactions with traders prove that business is normally slow due to the fear of possible election-related violence that might break out in town, or the attitude of customers having to save their money for Christmas. Large companies also take…
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Odawna Market fire: Traders lament delays in sharing of compensation
Some traders at the Odawna Market who are yet to receive their share of the compensation promised them by the government are asking for their money. The traders are victims of a fire outbreak that razed the market. President Akufo-Addo, as part of efforts to support them directed the Microfinance and Small Loans Centre (MASLOC),…