Category: Business
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AGI troubled with rising COVID-19 cases and implications on demand of goods
The Association of Ghana Industries (AGI) says the business community is concerned about a possible slowdown in demand for their goods and services if the disturbing situation with COVID-19 in the country is not managed effectively. Between May and June of last year, at the height of the Coronavirus pandemic, the Ghana Statistical Service (GSS),…
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Lending rates won’t go down any time soon – Economist
An Economist with Databank, Courage Martey, is concerned that lending rates in the short term, will not see a reduction, even though multiple business groups such as the Ghana Union of Traders Association (GUTA) have been calling for a reduction in the cost of credit to enable them to be competitive in the sub-region. Latest…
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![Business gradually booming for traders at University of Ghana as schools reopen [Video]](https://citibusinessnews.com/wp-content/uploads/2021/01/businesses-on-legon.png)
Business gradually booming for traders at University of Ghana as schools reopen [Video]
Many business owners whose trade largely depends on school activities are very elated by the resumption of schools. Following the announcement of reopening of schools, most of these businesses had to restock and revamp their shops to boost trade as fast as possible after several months of closure due to the COVID-19 pandemic. A visit…
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Government must appoint only qualified persons to energy sector boards – COPEC
The Chamber of Petroleum Consumers (COPEC) has called on the government to ensure that only persons with requisite knowledge and expertise are assigned to manage the various energy sector institutions. A recent circular from the government on January 7, 2021, had indicated a dissolution of the various boards and corporations in accordance with the country’s…
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Inflation for December 2020 rises to 10.4%; still within revised target
Latest data released by the Ghana Statistical Service, GSS, indicates that the Consumer Price Index (CPI) for December 2020 has increased to 10.4 percent. The December inflation figure is 0.6 percentage points higher than the 9.8% percent recorded in November 2020. The Consumer Price Inflation (CPI) measures the change over time in the general price…
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GIPC begins probe into activities of Chy Century Heng Yue Group
The Ghana Investment Promotion Centre, GIPC, has begun investigations into activities of Chinese companies, Chy Century Heng Yue Group Limited and Sairui E-commerce Ghana Limited. This follows claims by Chy Century Heng Yue Group Limited and Sairui E-commerce Ghana Limited that they have registered with the Ghana Investment Promotion Center, hence their activities are legal.…
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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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Businesses must abide by regulations to prevent fire outbreaks – Bureau of Public Safety
The Bureau of Public Safety is admonishing businesses across the country to fully comply with the Fire Precautions (Premises) Regulations L.I. 1724. According to the bureau, following the regulations will help prevent the frequent occurrence of fire outbreaks especially at business centres in Ghana. Executive Director of the Bureau, Nana Yaw Akwada believes these loses…
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AfCFTA and Dangote’s refinery will make fuel cheaper – Energy Consultant
Energy analyst and lead technical consultant to the Chamber of Petroleum Consumers (COPEC), Dr Yussif Sulemana says the African Continental Free Trade Area Agreement (AfCFTA) coupled with the establishment of a state-of-the-art refinery by Nigerian businessman Aliko Dangote stand the potential to significantly reducing the cost to refined crude products on the continent. He stated…
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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…