Category: Business
-
Prices to go up by 50% with reversal of benchmark values policy – GUTA
The Ghana Union of Traders Association is warning of a steep increase of about 50% in the prices of some major goods imported into the country if the Ghana Revenue Authority (GRA) goes ahead with the implementation of the government’s policy directive on the reversal of the reduction of values of imports on selected items,…
-
Construction Chamber chastises stubborn contractors slowing down ongoing payment process
The Ghana Chamber of Construction Industry has described as unfortunate the unwillingness of some contractors to avail themselves to be paid by the government. At the moment, the chamber says contracts worth up to GHC 1 million that are in arrears are being paid by the government. This comes after years of calling on the…
-
![Our Monetary Policy Needs Urgent Review – Togbe Afede XIV [ARTICLE]](https://citibusinessnews.com/wp-content/uploads/2021/11/Togbe-Afede-XIV.jpg)
Our Monetary Policy Needs Urgent Review – Togbe Afede XIV [ARTICLE]
This article is a rejoinder to Bank of Ghana, BOG’s press statement headlined, “Responses to Issues Raised by Togbe Afede XIV (TAXIV) on High Interest Rates in Ghana”. During the courtesy call on me by the Rt. Hon. Alban Bagbin, Speaker of Parliament, on November 20, 2021, I spoke against BOG’s high monetary policy rate…
-
BoG responds to Togbe Afede XIV on High Interest Rates in Ghana
The Bank of Ghana’s attention has been drawn to a recent article published on JOY FM online platform (myjoyonline.com) with the caption: “Bank of Ghana has lost focus”, and which has since been republished by other media houses and circulated widely on social media. In the said article, Togbe Afede XIV is reported to have…
-
American Chamber of Commerce assures of more collaborations between Ghana and USA to boost trade
As the first year of the implementation of the African Continental Free Trade Area (AfCFTA) comes to an end, the United States Ambassador to Ghana, Stephanie Sullivan, has assured of deepened trade relations between Ghanaian and American businesses to enhance their activities and capture new foreign direct investment. According to the Chamber, Ghana’s political stability,…
-
Increasing interest rates in tandem with policy rate not prudent – Banking Consultant
Banking consultant Nana Otuo Acheampong says it is in the interest of banks not to increase their interest rates in tandem with increases in the monetary policy rate of the Bank of Ghana. The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) a few weeks back, increased the Monetary Policy Rate (MPR) by…
-
BoG forwards suspected financial crime cases to EOCO for further probe
The Bank of Ghana has forwarded a number of suspected financial crime cases to the Economic and Organised Crime Office (EOCO) for investigations. According to the Central Bank, these include suspicious claims to the Bank of Ghana for the payment of certain large sums of money purportedly remitted to them by foreign counterparties through some…
-
Auto Parts Ltd unveils new Nissan Navara double-cabin pickup
Sole authorised distributors of Nissan vehicles in Ghana, Auto Parts Limited, has unveiled the new Nissan Navara pick-up. The 2.5-litre turbo diesel engine pickup manufactured in South Africa with Japanese Technology has enhanced features. Speaking at the ceremony to launch the new Nissan Navara pick-up, Sales and Marketing Director of Auto Parts, Noor Accad said…
-
2022 will be a year for the youth – FBNBank MD
The Managing Director of FBNBank, Mr. Victor Yaw Asante, has revealed that the coming year, 2022, will be a year for the youth of Ghana with the age category featuring topmost on the agenda of many, including the bank and the government. Speaking to a section of the media in an interview on his views…
-
Housing, fuels, food etc. push November inflation to 12.2 %, highest since 2019
Increases in prices associated with housing and transport across the country as well as an overall increase in the contribution of food inflation to national inflation have pushed the rate for November 2021 to 12.2 %. This is according to the Ghana Statistical Service (GSS). The rate of inflation for the month of November is…