Category: Business
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10% reduction in transport fares takes off today
Public transport fares are to go down by 10 percent effective today, Wednesday, May 17, 2023. Road transport operators attributed the reduction to consistent marginal reductions in the price of fuel. The reduction covers shared taxis, intra-city (trotro), intercity (long distance) and haulage. Announcing the reduction in a statement, the road transport operators in a…
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Pensioner Bondholders give govt Friday to settle unpaid coupons
The Pensioner Bondholders Forum has given the government until Friday, May 19, to pay all outstanding coupons as agreed. Following several days of protest, the government pledged to begin payment on Monday, however Citi Business News checks show that members of the group are yet to be paid. They anticipate that all of the 17…
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Cedi to appreciate further after IMF Board approval – Courage Boti
Analysts are still anticipating further gains of the cedi should Ghana secure board approval from the International Monetary Fund (IMF), as expected. There have been strong predictions that Ghana’s currency will see more strengthening on the forex market as the country prepares for the first loan tranche of US$600m from the IMF in the next…
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Pensioner Bondholders Forum yet to receive payment of matured coupons
Despite reaching an agreement with the government, members of the Pensioner Bondholders Forum are yet to receive payment for their matured coupons. The bondholders were looking forward to their funds on Monday, May 15, following the suspension of their picketing at the Ministry of Finance after five days. However, checks with the group suggest that…
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Be fiscally responsible after IMF Board approval – Economist cautions govt
Economist, Dr. Patrick Asuming, is advising government to be more pragmatic in its fiscal policy direction post-bailout from the International Monetary Fund (IMF). His caution is on the back of financial assurances from the country’s external creditors and the anticipated International Monetary Fund board approval for Ghana. Speaking to Citi Business News, Dr. Patrick Asuming…
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Transport fares to go down by 10 percent from May 17
Users of public transport will enjoy a 10 percent reduction in fares by 10% effective Wednesday, May 17, 2023. This follows consistent marginal reductions in the price of fuel. The road transport operators in a statement on Monday night said the reduction affects shared taxis, intra-city (trotro), intercity (long distance) and haulage. “In line with…
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Mahama to restore licences of unjustly collapsed banks
Former President John Dramani Mahama has stated that the next National Democratic Congress (NDC) administration will restore the licences of banks whose authorizations were “unjustly” revoked as part of the government’s financial sector reforms. This, he claims, is one of the rafts of measures aimed at revitalizing the banking industry and boosting financial confidence. “”We…
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Unilever Ghana pledges sustainable employment opportunities for youth
George Owusu Ansah, the Managing Director of Unilever Ghana Plc, has expressed the company’s commitment to support national development by creating sustainable employment opportunities. He believes that a well-resourced and vibrant young population is essential for driving national transformation. During a media engagement event in Accra, Owusu-Ansah reaffirmed Unilever Ghana’s pledge to produce consumer-friendly products.…
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IMF deal: Ghana will return to international capital market soon – Govt
The government is optimistic that Ghana will be able to return to the international capital market as soon as possible. Ghana is on the verge of securing a US$ 3 billion IMF bailout to help with the country’s balance of payment problems, with the first tranche of US$600m expected to be authorized by Wednesday and…
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Fuel prices to decline in second pricing window of May – COPEC
The Chamber of Petroleum Consumers Ghana (COPEC) is projecting a decline in the prices of fuel in the second pricing window of May 2023. COPEC’s projections indicate that the decline is a result of the decrease in the price of crude on the international market and stable to slightly declining forex rates. Petrol is expected…