Category: Markets
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MASLOC begins disbursement of interest-free loans to Odawna fire victims
Just two days after the Microfinance and Small Loans Centre (MASLOC) announced the disbursement of a GHS2 million interest-free loan to support the victims of the Odawna market fire, the Centre has begun the distribution of the monies. With each person receiving GHS2,000 each, MASLOC has pledged to distribute the money to about 1,000 people…
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Economists expect Ghana’s policy rate to be maintained
Ahead of the commencement of the 97th Regular Meetings of the Monetary Policy Committee of the Bank of Ghana, some economists have told Citi Business News that they expect the Central Bank to maintain the rate for a fourth consecutive time. They attribute their expectations on the high fiscal deficit of the country. The 97th…
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We’ll uphold high standards to have only the best firms listed – GSE
The Ghana Stock Exchange, GSE, says it is committed to upholding the highest of standards to ensure that only the best performing companies stay on the local bourse. This follows the compulsory and in some cases voluntary delisting of about 8 companies from the Ghana Stock Exchange since 2017. While companies like Mechanical Lloyd and…
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Traders lament continuous rise in food prices contrary to earlier predictions
In the month of September, there were significant price increments for some commodities nationwide. The price of tomatoes, for instance, increased by 5.35 percent to close trading at GH¢348.17 per crate. This was followed by gari with a 3.78 percent increment to close at GH¢231.75 per 68kg. Commodities that made losses included yam, which decreased…
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Spending in December will not increase inflation rate – Economist
Usually, Ghana’s inflation rate sees a rise ahead of a Christmas season. But this time round, things may take a different turn as economic activities return after COVID-19 hit hard in an election year. This is according to an economist, Dr. Adu Owusu Sarkodie. The inflation rate for September, which is 10.4 percent, is the…
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PZ Cussons completes delisting from Ghana Stock Exchange
Almost a year after PZ Cussons Ghana Limited announced its intention to de-list from the Ghana Stock Exchange subject to Shareholder approval, and approval from relevant industry regulators, it has finally completed the process and will no longer be a part of the local bourse effective 19th October 2020. At the time PZ Cussons announced…
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Delisting on GSE: Companies urged to strengthen corporate governance systems
The increasing number of companies delisting from the Ghana Stock Exchange (GSE) has been attributed to the failure of the companies to deliver dividends as well as share price appreciation. That’s according to the head of Research at Databank, Alex Boahen. Since 2017, about 8 companies have had their listing on the Ghana Stock Exchange…
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Tax Justice Coalition joins calls for scrapping of Agyapa Royalties deal
Calls for the suspension of the implementation of the controversial Agyapa Royalties deal have intensified as the Tax Justice Coalition has described the deal as a wrong precedent. Though the Finance Ministry seems to have addressed all related issues raised around the deal, civil society groups under the Alliance of CSOs working in Extractive, Anti-Corruption…
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Cedi’s stability backed by Ghana’s diverse export base, other factors – Economist
Economist with DataBank, Courage Kingsley Martey is confident the Ghana Cedi will remain stable when compared to its peers on the African continent for the rest of the year, even against the backdrop of the unfolding coronavirus pandemic. Out of some 15 key currencies on the continent evaluated by Databank, the Cedi remained relatively stable…
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Inflation drops to 10.5%; lowest rate since April 2020
Ghana has recorded its lowest National year-on-year inflation rate since the country recorded its first Coronavirus case in March. The inflation rate for August which is 10.5 percent represents a 0.9 percentage point drop from the 11.4 percent recorded in July this year. The significant reduction was influenced by the lower inflation levels of food…