Category: Business
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Strict enforcement of AfCFTA regulatory framework will ensure smooth implementation of PAPSS – Bawumia
Vice President, Dr. Mahamudu Bawumia has called for strict enforcement of the regulatory framework of the African Continental Free Trade Area, AfCFTA, for financial services to ensure the smooth and effective implementation of the Pan African Payment and Settlement System (PAPSS). According to him, it is important that payments services regulation of member states are…
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Wilmar Africa Ltd. shuts down oil plant over operational challenges
A leading fast-moving consumer goods manufacturer in Africa, Wilmar Africa Limited, has announced the temporary shutdown of its oil-producing plant due to some operational challenges. According to the company, the situation can be attributed to a number of factors including the suspension of the implementation of the reversal of discounts on benchmark values by the…
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Continuous travel restrictions may impact international traffic to Ghana – Aviation Analyst
Aviation analyst Sean Mendes says the continued imposition of air travel restrictions in different parts of the world will hamper the ability of Ghana’s aviation sector to fully bounce back to pre-pandemic levels. Despite the strong performance of the domestic sector in 2021, international travel traffic is still underperforming. The Ministry of Foreign Affairs has…
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Fuel prices to hit GH¢7 per litre by January ending – IES predicts
The Institute for Energy Security (IES) says consumers should expect fuel prices at the pumps to hit GH¢7 per litre in the second pricing window of this month, January. Fuel prices per litre at most pumps around the country dropped to around GH¢ 6.50 on average in the past few weeks but have now risen…
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Registrar-General delists 2,788 firms from companies register
The Registrar General’s Department has delisted 2,788 companies from Ghana’s Companies Register for defaulting to file their annual returns with the department. The affected companies failed to comply with the directive issued by the department to file their annual returns or risk being delisted from the Companies Register. In a statement copied to Citi Business…
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Boldly scrap discount on benchmark values – AGI
The Association of Ghana Industries (AGI) has asked the government to be bold and maintain its decision to reverse the discount policy placed on benchmark values. It said the government must ensure that it followed through with its intention to reverse the discount policy from January 17 onwards to help spur industrialisation. Addressing a press…
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No need to extend retirement age to 65 – Labour Analyst to SSNIT
Labour Analyst, Austin Gamey, has advised against the possible increment of the retirement age from 60 to 65 years. The Director-General of the Social Security and National Insurance Trust (SSNIT), Dr. John Ofori-Tenkorang, earlier this week, announced at a press briefing in Accra, that his outfit is seeking further discussions with government and labour unions…
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Ghana’s inflation rate accelerates to 12.6% in December 2021
Data from the Ghana Statistical Service shows that the year 2021 ended with a national inflation rate of 12.6%. Compared to the 12.2% recorded in November 2021. This new figure represents a 0.4% rise in the inflation rate. Month-on-month inflation between November and December 2021 was 1.2% This is the 7th consecutive time the inflation…
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SSNIT increases 2022 pension by 10%
Pensioners in Ghana should expect about a 10 percent increase in their pensions for 2022. This is according to the Social Security and National Insurance Trust (SSNIT). The decision, according to SSSNIT,was arrived at in consultation with the National Pensions Regulatory Authority (NPRA) and in line with Section 80 of the National Pensions Act 2008…
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Prices of goods won’t increase by 50% if benchmark discounts are reversed – AGI
The Association of Ghana Industries (AGI) has debunked claims and threats of a 50% hike in the prices of goods on the markets if the government goes ahead with the implementation of the reversal of discounts on benchmark values at the ports. The remarks follow consistent claims by the Ghana Union of Traders Association and…