Category: Business
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Fast track plans for trading in Chinese Yuan instead of US dollar – GUTA to Gov’t
The Ghana Union of Traders (GUTA) has called for the fast-tracking of moves to ensure that Ghanaian traders are able to trade more in the Chinese Yuan when doing business with China. Such a move is expected to reduce pressure on the Cedi because imports will not be done with US dollars. Most of Ghana’s…
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Gov’t completes piloting of YouStart, programme to start in April – Ofori-Atta
Government has completed the piloting of its flagship YouStart programme and says it is ready to roll it out in April 2022. According to Finance Minister, Ken Ofori-Atta, the youth entrepreneurship programme when rolled out will be a vehicle for supporting young entrepreneurs to gain access to capital, training, technical skills, and mentoring to enable…
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Increase support for Agric sector to curb inflation – Prof. Quartey to Gov’t
Head of the Economics Division at the Institute of Statistical, Social and Economic Research, at the University of Ghana, Prof. Peter Quartey has urged the government to consider identifying and supporting large scale farmers around the country, who would, in turn, support smaller farmers around them as a way to ensure sustained growth of Ghana’s…
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Our members must fulfil tax obligations to remain in good standing –AOMC
The Association of Oil Marketing Companies says it expects its members to fulfil all their financial obligations to the government to remain in good standing. Chief Executive Officer of the Association, Kwaku Agyeman Duah, stated that such developments were unhealthy for the sector. “GRA has got a mandate to make sure that everybody pays tax.…
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Pump prices could hit GHS10/litre if Russia-Ukraine situation worsens- Dr Sulemana
Energy Consultant, Dr Yussif Sulemana says if the conflict between Russia and Ukraine escalates, Ghanaians must brace themselves to start buying fuel at about GHS10 per litre. The price of fuel on the global market reached an over 8-year record of $100 a barrel. Already, the previous increases to about $90 dollars had resulted in…
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Abena Osei-Asare proposes new Committee to transition importers into manufacturers
The Finance Ministry has proposed to the trading community a new Industrialization Committee to help importers begin manufacturing some of the things they buy from other countries. This comes on the back of an announcement of a phased reversal of the benchmark values discount policy starting March 1, 2022. The Finance Ministry last week announced…
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GUTA pleads with gov’t to hasten slowly with complete reversal of benchmark values
The Ghana Union of Traders Associations (GUTA) is pleading with the government to hasten slowly with a complete reversal of the benchmark value discounts. The appeal comes after the government’s announcement of a new 30 percent discount on the benchmark values of all imported goods and a 10 percent discount for vehicles from the initial…
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Ghanaians urged to assume leading roles in energy sector to boost local content
Energy Minister, Dr. Matthew Opoku Prempeh has reiterated calls for Ghanaians to assume leading roles in the various sub-sectors under the country’s energy sector. According to him, the practice of expatriates being awarded huge contracts due to the lack of skills and technical know-how among Ghanaians must be addressed. To achieve this, he believes more…
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FBNBank partners WorldRemit to offer international money transfer services
FBNBank Ghana and digital payments company, WorldRemit, have announced a partnership that makes it easier for residents of Ghana to process international money transfers. This new service allows the Ghanaian diaspora and other nationals worldwide to send remittances to a network of 21 FBNBank branches and two agencies across Ghana, enabling their families and friends…
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Businesses urged to strengthen supply, value chains to boost local content beyond Ghana
Former Chairman of the Ghana Investment Promotion Centre (GIPC), Kwesi Abeasi, is asking Ghanaian businesses to get onto the international supply and value chains and work towards staying on them to stay relevant on the international market. According to him, businesses have the obligation of coming up with products and services that are competitive enough…