Category: Business
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Fuel prices may go up by 16 pesewas soon – COPEC
As global crude oil prices continue to increase the Chamber of Petroleum Consumers, COPEC, is hinting of an up to 16 pesewas hike in fuel prices at the pumps in the coming days. In an interview with Citi Business News, Executive Secretary of COPEC, Duncan Amoah called on authorities to put measures in place to…
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Foreign inflows and BoG measures will see cedi depreciate by 4% in 2021 – Economist
Renewed inflow of foreign portfolio investment coupled with some measures by the Bank of Ghana such as the forex forward auctions should see the Cedi depreciate marginally by about 4 percent for all of 2021. That’s according to an economist with Databank Courage Martey. After depreciating by more than 8 percent and 12 percent against…
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Cedi depreciation and taxes quadruple domestic fuel prices in the last decade – IES
Over the past decade (2010-2019), Ghana has seen a 347 percent increase in price of Gasoline (Petrol) and a 338 percent increase in Gasoil (Diesel) price at the pump, largely because of Cedi depreciation, taxes and levies. Analysis of data from the Energy Commission (EC), National Petroleum Authority (NPA) and IES’ MarketScan show that by…
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The all-new multipurpose on-demand online marketplace in Ghana – Shopnaw
Each day, thousands of people in Ghana rely on ride-hailing services to commute from one place to the other. They also rely on this for food and grocery delivery services to save them time from moving around in congested cities to satisfy their cravings. Shopnaw has unveiled its new mission to create an on-demand marketplace…
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Government pledges to intensify efforts in adding value to cocoa
As Ghana prepares to celebrate the National Chocolate week, stakeholders in the cocoa sector have pledged to intensify efforts to add more value to the country’s cocoa. According to them, this would be done by focusing more on making beans available to local entrepreneurs to enhance their value addition ventures. Cocoa farming has for many…
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Ghana-UK finalize negotiations on new interim Trade Partnership Agreement
Ghana and the UK have successfully completed negotiations on the new interim Trade Partnership Agreement between the two countries. The new agreement will take effect immediately both countries finalize on their internal procedures to accommodate the concessions. As part of the new agreement, Ghana will get duty-free and quota-free access to the UK market while…
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Companies given up to June 30 to submit data on legal owners to Registrar-General
The Registrar-General’s Department has tasked all existing companies to submit all data on their legal and beneficial owners before July 1, 2021. “From January, every business that comes to register is supposed to download the forms, fill it and attach it to the registration documents. So we have started collecting them,” she noted during a…
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Growth rate of bank loan advances slows in 2020 due to COVID-19
The month of December witnessed the slowest annual growth rate in bank advances seen in all of 2020. That’s according to the latest summary of Macroeconomic and Financial data released by the bank of Ghana. Total amount of loans advanced by banks in the country at the start of 2020, stood at GHS46.5 billion, representing…
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IT Consortium in collaboration with Axis Pensions launches RemitPlus
IT Consortium, Ghana’s number one ranked FinTech in the Ghana Club 100 in collaboration with Axis Pensions Trust has launched RemitPlus; a product designed to allow Ghanaians have access to value added financial services such as pensions contributions whenever they receive international remittances. Other value offerings that come with RemitPlus include an embedded life cover…
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COVID-19: Business owners urged to be measured in reducing employee numbers
National Project Coordinator for Sustaining Competitive and Responsible Enterprises (SCORE), a project under the International Labour Organisation, ILO has stated that reducing the number of employees in the current economic environment, as part of measures to control the negative impact of COVID-19 on businesses, is not the best decision for business owners. According to him,…