Category: Economy
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Karpowership shuts down in preparation for relocation
Karpowership has announced that it will from tomorrow commence its plan of relocating to the Western region to access natural gas to power its plant. The company in a release said the planned relocation is going to last not more than 17 days and thus the plant’s 470MW power will be unavailable on the national…
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Ghana launches 2018 PEFA report
Ghana over the weekend launched the 2018 edition of the Public Expenditure and Financial Accountability (PEFA) report in Accra. PEFA is a tool for assessing the status of Public Financial Management (PFM). The report, which is the fourth edition, establishes a baseline for PFM performance, using the revised Framework that came into effect in early…
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We’ll address concerns of businesses – Alan Kyerematen
The Minister of Trade and Industry, Alan Kyerematen, has assured the business community of the government’s commitment to resolving bottlenecks that impede trade between Ghana and other countries in the West African sub-region. “The government is working with the ECOWAS, including our neighbouring countries, to remove obstacles that impede the free flow of goods from…
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![[Article] Impacts of fuel price hikes on the economy](https://citibusinessnews.com/wp-content/uploads/2019/07/petrol_pump.jpg)
[Article] Impacts of fuel price hikes on the economy
The speculation that government was once more going to increase taxes on fuels during the 2019 mid-year budget review contrary to public expectations has been confirmed. Therefore, in the coming days, consumers of petroleum products in the country will be paying more at the pumps as government announces increment in the energy sector levy to…
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![[Article] A smart investor is an informed investor](https://citibusinessnews.com/wp-content/uploads/2019/06/bank-of-ghana.jpg)
[Article] A smart investor is an informed investor
In recent times, the financial sector in Ghana has come under strict scrutiny from its regulators. The Bank of Ghana (BOG) for instance, has been very stern in whipping both Financial and Non-Bank Financial Institutions into shape. The result of this exercise has led to the collapse and revocation of the license of seven (7)…
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Business confidence improves marginally — AGI’s Q2 Barometer report
The AGI Business Barometer for the second quarter of the year shows that business confidence increased marginally. It rose from 99.8 in the first quarter to 103.2 points for the second quarter. The AGI Business Barometer measures prevailing conditions and expectations of businesses surveyed by the AGI. It expresses the state of the business confidence…
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EIU backs Bank of Ghana to keep inflation in check for at least 4 years
The Economist Intelligence Unit (EIU) is forecasting that the Bank of Ghana will succeed in keeping inflation within its medium target of between 8-10 percent for at least the next three years. According to the EIU in its latest country report, the consumer price index is not going to go beyond the 10 percent mark.…
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IFS demands detailed breakdown of energy sector debt
The Institute for Fiscal Studies (IFS) is demanding that the government publishes a detailed report on the monies it owes to companies in the energy sector. According to the Finance Minister Ken Ofori-Atta in the mid-year budget, agreements signed between previous government and power producers is costing the country at least US$500 million per annum…
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Increase tax on profitable and more resourceful businesses – IEA
The Institute of Economic Affairs (IEA) on Tuesday said the government should have imposed more taxes on profitable and resourceful businesses rather than sparing them in the mid-year budget review. The Institute said the Minister would be more successful in raising revenue to fund the expenditure needs if the tax increases were directed at the…
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AU, AfDB sign US$4.8 million grant for free trade secretariat
The African Development Bank Group has signed a US$4.8 million institutional support grant to the African Union (AU) for the implementation of the African Continental Free Trade Area (AfCFTA). The grant, approved by the Group’s Board of Directors on 01 April 2019, forms part of a series of interventions by the Bank in its lead…