Category: Business
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TUC, other groups sign MoU with gov’t to participate in management of economy
The Trades Union Congress (TUC) and the Employers Association have signed a Memorandum of Understanding with the Finance Ministry and the Ministry of Employment and Labour Relations for effective participation in discussions relating to the management of the economy. The TUC and the Employers Association now have a slot to make inputs into policies pertaining…
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Ghana sells 380,000 T of 2019/20 cocoa export contracts by mid-April
Ghana’s cocoa marketing company has sold around 380,000 tonnes of export contracts for the 2019/20 season, sources there and at the industry’s regulator Cocobod. The Cocobod source said between 60,000 and 80,000 tonnes of export contracts were sold during the first 10 days of April. The sources provided no comparative figure for the 2018/19 season.…
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We-Fi calls for Public, Private Sector support for women entrepreneurs
Heads of state, ministers, leaders of multilateral development banks, private sector executives, women entrepreneurs, and contributing governments of the Women Entrepreneurs Finance Initiative (We-Fi) convened at the first We-Fi Regional Summit to discuss concrete ways to strengthen support for women-led small and medium-sized enterprises (SMEs) in West Africa. Attended by more than 400 public and…
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Government to review fuel costs, taxes for airline companies
The Ministry of Finance has announced that it is working to reduce the cost of aviation fuel and other taxes for airline companies operating in Ghana. The move is among others, to make Ghana more competitive in the aviation industry within the sub region. Deputy Minister of Finance, Kwaku Kwarteng disclosed the plan at the…
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Ghana cuts its cocoa crop forecast due to plant disease
Ghana cut its forecast for the current season’s cocoa harvest by 6 percent because of plant disease in its biggest growing region, according to two people familiar with the matter. The regulator of the world’s second-biggest cocoa producer lowered the production estimate for the annual crop through September to 850,000 metric tons, from 900,000 tons…
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Bijou Homes at Appolonia City is selling fast
Bijou Homes, a residential community within Appolonia City, is selling fast, with more than 40 percent of the first phase already sold. The Bijou Homes neighbourhood was launched in November 2017 by President Nana Addo Dankwa Akufo-Addo, who heralded GHL Bank and Appolonia City for their partnership to build high-quality affordable homes with flexible payment…
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$23m AFT Fund to support bankable agriculture projects in Sub-Saharan Africa
The African Development Bank is confident a newly secured $ 23 Million grant under the Agriculture Fast Track Fund, will go a long way to improve some aspects of the Agriculture value chain in Ghana. The funds, which will benefit 17 new projects in 8 countries, is expected to be used for feasibility studies, market…
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FDA prevents unwholesome rice from entering Ghana
Citi Business News’ checks at the Food and Drugs Authority(FDA) has revealed that the Authority received an alert on some substandard rice that was being imported into the Ghanaian market from Myanmar. Officials at the FDA quickly moved to prevent the unwholesome rice from entering Ghana with the aid of the customs division and other…
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Ghana’s economy grows by 6.3% in 2018
Ghana’s economy grew by 6.3 percent in 2018, witnessing a drop in growth when compared to the 8.1 percent recorded in 2017. The total value of all goods and services produced in the country in 2018 also amounted to 154.5 billion cedis. Per figures released by the Ghana Statistical Service, the industry subsector recorded the…
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Commodity prices, cedi depreciation push Producer Price Inflation up to 6.7%
The producer price inflation rose to 6.7 percent in March 2019. This is 3 percent higher compared to the 3.7 percent recorded in the same period in 2017. The Ghana Statistical Service attributes the rise to the prevailing prices of commodities like gold and petroleum on the international world market. The Government Statistician, Professor Samuel…