Category: Markets
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Inflation inches up for the second consecutive month
Inflation has continued its upward trajectory for the second month running, rising to 8.2 percent in November, the Ghana Statistical Service has said. The increase recorded last month, represents a 0.5 percentage points increase in the October 2019 inflation of 7.7 percent. The Statistical Service three months ago, using a new series, announced inflation had…
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Akufo-Addo urges Ghanaian businesses to explore opportunities in South African market
President Nana Addo Dankwa Akufo-Addo has urged Ghanaian businesses to explore opportunities offered by the Africa Continental Free Trade Agreement to venture into countries such as South Africa. The President was speaking in Accra at the Ghana-South Africa Business Roundtable meeting which was also attended by his counterpart, Cyril Ramaphosa. Ghana and South Africa have…
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Stakeholders urged to support women in shea value chain production
Stakeholders in the value chain of shea production have been asked to provide the necessary support for women in the industry. While hundreds of rural women in Northern Ghana are engaged in the industry, their poverty levels have not improved because they earn very little from it despite the high commercial value of the commodity.…
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Textile industry workers commend GSA over crackdown on fake textiles
The Textile, Garment and Leather Employees’ Union (TGLEU) has commended the Ghana Standards Authority (GSA) over its decision to clamp down on people selling substandard African wax prints. The Union in a statement said these substandard products which have flooded the markets, pose serious health risks as the quality of chemical used in manufacturing the…
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Black Friday: Discount shopping experience hugely patronized in Ghana
Shoppers in Ghana and across the world have yet again participated in one of the world’s exciting shopping experiences. The Black Friday usually offers shoppers outrageous reduction in prices on all kinds of items. Although not a very common experience in Ghana, the day is gradually gaining recognition. Citi Business News can report that in…
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GSA locks up shops in Accra in clamp down on sub-standard goods
The enforcement team of the Ghana Standards Authority, GSA, has closed down several shops at the Accra Central Market including shops that deal in prints and fabrics. The standardization exercise sought to uncover the illegal production of sub-standard or counterfeit products in Ghana, and also ensure that vendors only sell authentic goods to customers. The…
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Business of Christmas: Poultry vendors optimistic of high demand for birds
Ahead of the festive season, there are some businesses that seriously position themselves for the season to cash-in before it goes away. One of such groups is those who deal in poultry products. Chicken and other poultry products are undoubtedly global delicacies that many cannot forgo during the yuletide. According to statistics from agricinghana.com, domestic…
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Financial sector clean-up costs taxpayers GH¢16.4 billion — Ofori-Atta
The Finance Minister Ken Ofori-Atta has opened up about the overall cost of government’s intervention in the financial sector to protect funds of depositors and investors whose companies lost their licenses in bouts of regulatory actions. Mr. Ofori-Atta delivering the 2020 budget statement on the floor of Parliament said more than GH¢16.4 billion of taxpayers…
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SEC responds to questions on collapse of fund management companies
The Director-General of the Securities and Exchange Commission (SEC) Rev. Daniel Ogbarmey Tetteh on Monday, November 11, 2019, made an appearance on Citi TV’s current affairs programme, Point of View, to answer questions on the regulator’s decision to shut down 53 fund managers. As part of the show, viewers were asked to send their questions…
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Government to issue US$3 billion Eurobond in 2020 — Ofori-Atta
The Finance Minister Ken Ofori-Atta says the government will return to the Eurobond market to borrow US$3billion to help the government bridge the deficit between its revenue and expenditure in 2020. The government is projecting to raise GH¢67 billion in revenues and grants whereas its total expenditure for the year is pegged at GH¢86 billion…