Category: Economy
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Bawumia blames negative credit ratings, chaotic budget approval, others for cedi’s woes
The Vice President, Dr. Mahamudu Bawumia, has attempted to give reasons for the troubles of the Ghana cedi. The head of the government’s economic management team blamed the woes of the cedi largely on negative credit ratings, challenges in getting the 2022 budget passed, and the refusal of investors to roll over their monies in…
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Attributing all our challenges to COVID-19 affecting Ghana’s credibility – Seth Terkper
Former Finance Minister, Seth Terkper says Ghana’s credibility on the international market is waning due to the continuous attribution of the country’s issues to the COVID-19 pandemic and the Russian–Ukraine War. The remarks come on the back of President Nana Akufo-Addo’s recent interview with the BBC, where the President sought to defend the state of…
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![Russia-Ukraine war will stall sale of cocoa products to both countries – COCOBOD [Video]](https://citibusinessnews.com/wp-content/uploads/2021/01/cocoa-seeds.jpg)
Russia-Ukraine war will stall sale of cocoa products to both countries – COCOBOD [Video]
As the Russia – Ukraine war rages on, the impact on regional economies, especially those who export products to the two countries, is being felt. In Africa, countries dependent on commodities like wheat, oil, and fertilizer components, among others, are also feeling the pinch. In Ghana, the impact of a barrel of Brent Crude rising…
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Gov’t in denial over situation with food security in Ghana – GAWU reacts to SONA
The Ghana Agricultural Workers Union (GAWU) says that Ghana is far from being secure in food production despite the progress made in the agriculture sector under this government. The remarks follow the comments made by President Akufo-Addo about Agriculture during the delivery of his state of the nation address on Wednesday, March 30, 2022. Ghana…
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Passage of e-levy bill unfortunate – Prof. Bokpin
Economist, Prof. Godfred Bokpin is disappointed that the Majority Caucus in Parliament has passed the controversial electronic transfer levy bill. The e-levy has been a major source of tension in Parliament and even among the public since it was introduced in the 2022 budget. But Parliament on Tuesday passed the e-levy bill without the Minority…
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Ghana’s international air traffic in 2022 should exceed 2.1 million – Aviation analyst
Total international air traffic for Ghana via the Kotoka International Airport (KIA) should exceed 2.1 million people by the end of 2022, as a result of the latest easing of measures announced at the airport by President Akuffo-Addo on March 27, 2022. This is according to Aviation Analyst Sean Mendes. According to the President, fully…
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Gov’t urged to be accountable for new interventions rolled out to revive economy
Economist with Databank, Courage Martey has urged the government to be accountable in the quest to reap maximum impact off the interventions and cost-cutting measures rolled out to revive the economy. The government has committed to further spending cuts amid the rising cost of living and growing sense of economic hardship. These new measures will…
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Reversal of COVID-19 era reliefs to banks will mop up excess liquidity – Nana Otuo
Banking consultant Nana Otuo Acheampong is confident that the reversal of the COVID-19 era reliefs given to Universal Banks, will help in mopping up excess liquidity within the banking system. According to him, instead of lending to the private sector, banks in the country continue to use the excess liquidity they have to buy treasury…
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Hubtel introduces SMS & Money to change the way businesses pay and get paid
In the latest version of its product upgrades, Ghana’s leading name in bulk SMS messaging, Hubtel, has released features to enable users to collect payment and send money to as many contacts at the same time via SMS. Head of Product at Hubtel, Patrick Asare-Frimpong, announcing this update, said, “In Ghana, mobile money and bank…
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New MPR might aid in attracting investment for Ghana – Economist
Economist with Databank, Courage Boti, believes the revision in the monetary policy rate has the potential of attracting foreign investment into Ghana. This comes on the back of the recent increase in the policy rate by 250 basis points to 17 percent. According to him, this new development might mean more attractive interest rates for…