Category: Business
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Passage of e-levy bill unfortunate – Prof. Bokpin
Economist, Prof. Godfred Bokpin is disappointed that the Majority Caucus in Parliament has passed the controversial electronic transfer levy bill. The e-levy has been a major source of tension in Parliament and even among the public since it was introduced in the 2022 budget. But Parliament on Tuesday passed the e-levy bill without the Minority…
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Ghana’s international air traffic in 2022 should exceed 2.1 million – Aviation analyst
Total international air traffic for Ghana via the Kotoka International Airport (KIA) should exceed 2.1 million people by the end of 2022, as a result of the latest easing of measures announced at the airport by President Akuffo-Addo on March 27, 2022. This is according to Aviation Analyst Sean Mendes. According to the President, fully…
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Reversal of COVID-19 era reliefs to banks will mop up excess liquidity – Nana Otuo
Banking consultant Nana Otuo Acheampong is confident that the reversal of the COVID-19 era reliefs given to Universal Banks, will help in mopping up excess liquidity within the banking system. According to him, instead of lending to the private sector, banks in the country continue to use the excess liquidity they have to buy treasury…
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BoG advises against negative speculation about the Ghana Cedi
The Bank of Ghana has called out persons and groups that continue to negatively speculate about the Ghana Cedi with the hope that the local currency will continue to depreciate against the US Dollar. While data from the Central Bank shows that the Cedi had depreciated by about 15%, in the first 3 months of…
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Hubtel introduces SMS & Money to change the way businesses pay and get paid
In the latest version of its product upgrades, Ghana’s leading name in bulk SMS messaging, Hubtel, has released features to enable users to collect payment and send money to as many contacts at the same time via SMS. Head of Product at Hubtel, Patrick Asare-Frimpong, announcing this update, said, “In Ghana, mobile money and bank…
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KIC, Mastercard Foundation train entrepreneurs in agriculture sector
The Mastercard Foundation and the Kosmos Innovation Center (KIC), have launched a multi-year partnership to train the next generation of young leaders, and entrepreneurs in Ghana’s agriculture sector. Dubbed Initiative for Youth in Agricultural Transformation (I.Y.A.T), the program will scale KIC’s proven transformational model and initiatives such as the AgriTech Challenge, Business Booster, and Business…
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Event vending industry confident of a rebound as COVID-19 vaccines prove effective
The Event Vendors Association of Ghana says as the COVID-19 vaccines continue to prove to be effective, it is confident that its members will be able to bounce back this year. Speaking to Citi Business News, the President of the Association, Kate Hassan, was optimistic that event organisers would soon be able to make up…
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![Bank of Ghana’s March 2022 Monetary Policy Committee briefing [Full text]](https://citibusinessnews.com/wp-content/uploads/2022/03/Bank-of-Ghana-732x375-1.jpeg)
Bank of Ghana’s March 2022 Monetary Policy Committee briefing [Full text]
The Bank of Ghana (BoG) has increased the Monetary Policy Rate by 250 basis points to 17 percent. This is the first time the Central Bank has increased the key rate since November 2021. In his address to the media on Monday, March 21, 2022, Governor of the Central Bank, Dr. Ernest Addison, noted that all…
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Embattled MD resumes work after NLC’s order to GTP workers
The Managing Director of Textiles Ghana Limited, Fatoumata Doro, has finally resumed work on the orders of the National Labor Commission (NLC) after she was locked out for about a month. The NLC directed workers to grant her unrestricted access to her office until further notice. The workers of the Textiles Ghana Limited, producers of…
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TUC alarmed by rising fuel prices; demands suspension of taxes on petroleum products
The Trades Union Congress (TUC) has expressed worry over the frequent rise in the prices of petroleum products. The Union says the situation is having a huge toll on the general welfare of the populace and the business community. In a statement, the Union maintained that the unstable fuel prices have led to increases in…