Category: Business
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Only 45% of MASLOC loans paid in five years
The Microfinance and Small Loans Centre (MASLOC) has recovered only GH₵90 million of the GH₵204 million disbursed over the last five years, representing 45 percent payment. Hajia Abibata Shanni Mahama Zakariah, the Chief Executive Officer of the Centre speaking to the Ghana News Agency in Bolgatanga on the sidelines of a stakeholder engagement on the…
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GRA launches new non-resident registration portal to mobilize GHC 1.7 billion
The Ghana Revenue Authority (GRA) has launched a non-resident E-commerce and Digital Service Registration Portal, which it says will help it collect about GH¢1.7 billion in revenue from online businesses like Netflix, Jumia, Alibaba, and Amazon among others. The operation of the portal is expected to commence from 1st April 2022. The launch of the…
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![Traders blame increased food prices on rising cost of fuel, others [Video]](https://citibusinessnews.com/wp-content/uploads/2022/03/yam-in-the-market.png)
Traders blame increased food prices on rising cost of fuel, others [Video]
For weeks now, several economists and stakeholders have predicted that prices of fuel and food will continue to rise following tensions between Ukraine and Russia and the cedi’s depreciation against the dollar. The prices of some key commodities have been on the rise, and the cost of food and fuel has increased astronomically. With fuel,…
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Economist charges gov’t to boost domestic food production to check rising inflation
Economist with Databank, Courage Martey, is asking government to put in measures, to boost domestic food production to bring the cost of food down in order to check the rising inflation rate in the country. Food inflation was one of the main influencers for the recent rise in inflation in the country. The rate for…
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Food, fuel prices push inflation rate to 15.7% in February 2022
Ghana’s inflation rate has once again risen to hit 15.7 percent in February 2022. This represents a 1.8 percent jump in the inflation rate compared to the 13.9 percent recorded in the first month of this year. The current rate is the highest recorded since the rebasing of the CPI and inflation in August 2019.…
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Stay away from ‘Freedom coin’ cryptocurrency – BoG warns public
The Bank of Ghana (BoG) has warned the public about an impending launch of a cryptocurrency named “Freedom Coin” in Ghana. According to a statement from the Central Bank, the cryptocurrency and its promoting company do not have any”approval from the Bank of Ghana to operate in the banking and payment sector”. The Bank reiterated…
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Ghana may not need the IMF if authorities take needed fiscal measures – Pierre Laporte
The World Bank Country Director for Ghana, Liberia, and Sierra Leone, Mr. Pierre Laporte, says Ghana stands to benefit from going to the International Monetary Fund (IMF) if the country plans on going on an aggressive debt rescheduling program. President Nana Akufo-Addo and the Minister of Finance Ken Ofori-Atta, have on multiple occasions shot down…
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Gov’t underscores resolve to prioritize gender-sensitive trade policies
Women constitute a major part of small-scale informal cross-border traders who face major obstacles in moving their goods across the borders. These obstacles include lack of knowledge of border procedures and lack of finance among others. As women all over the world are being celebrated, a Deputy Minister for Trade and Industry, Nana Ama Dokua…
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Elsie Awadzi calls for inclusive approach to promote women’s access to finance
Second Deputy Governor of the Bank of Ghana, Elsie Addo Awadzi is calling for a more inclusive approach to promote as part of the country’s financial inclusion strategy. According to her, with high penetration of mobile money and increased digital payments, Ghana is well-positioned to become a financially included society in the medium-term and also…
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BoG cautions against fraudulent money-doubling scheme ‘BitCash Currency Exchange’
The Bank of Ghana is cautioning the general public against the patronage of a money-doubling scheme operating in Ghana under the name “BitCash Currency Exchange”. According to the Central Bank, the scheme which falsely claims to have its approval is a fraudulent one. A notice dated 8th March, 2022, warns the general public that the…