Category: Government
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Rising inflation may adversely affect purchasing power of consumers – Economist
Economist with Databank Courage Martey says the rising level of inflation if unchecked could impact the purchasing power of Ghanaians. The current year-on-year inflation rate of 10.6% for the month of September is the highest since July 2020 and higher than the government’s end of year target of 8 percent. For four months in a…
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Poor fiscal consolidation contributing to high interest rates – Dr. Addison
Governor of the Bank of Ghana, Dr. Ernest Addison has highlighted the country’s poor fiscal position as one of the reasons for the high lending rates in Ghana. According to him, among other things, the disparity in the country’s revenue and expenditure forces government to borrow from banks, leading to a crowding out of the…
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New taskforce fails to resolve retail trade impasse between Ghana and Nigeria
The impasse between Ghanaian traders and foreigners, especially Nigerians, operating in Ghana’s retail space may not end any time soon following a lack of consensus on the matter. A recent meeting between the Ghana Union of Traders Association (GUTA) and the Nigerian Union of Traders Association (NUTAG) at the behest of the new presidential taskforce…
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Improved SIM ecosystem will facilitate Ghana’s economic transformation – Joe Anokye
Director-General of the National Communications Authority (NCA), Joe Anokye, says he’s confident the ongoing SIM Card registration exercise will become a cornerstone for the country’s transformation. The ongoing SIM Card Registration Exercise, which has been questioned by some stakeholders, commenced on 1st October 2021. It is expected to among other things help develop and build…
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Implement market fire reports to prevent reoccurrence of such incidents – BPS
The Bureau of Public Safety says the country may continue to record fire outbreaks in its markets unless it begins to make public reports of earlier incidents and implement findings stated in these reports. Executive Director of the Bureau of Public Safety, Nana Yaw Akwada, stressed that until that is done, these fires would continue…
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Renegotiate old contracts in extractive sector – Economist urges government
Economist and lecturer at the University of Ghana, Dr. Adu Owusu Sarkodie has urged the government to consider renegotiating old contracts in the extractive sector which do not offer the country value for money. He also wants government to become an active participant in the production process in the extractive sector. Data from the Institute…
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Energy sector workers risk losing their jobs if power loses are not curbed – Energy Minister
Energy Minister Matthew Opoku Prempeh says the jobs of staff of the Electricity Company Ghana Limited and other power distribution companies will be at risk if the energy sector continues to record the level of losses the industry is currently recording. The Electricity Company of Ghana is on record to be losing as much as…
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Prof. Quartey calls for balanced approach in governments’ borrowing agenda
Economist and Director at the Institute of Statistical, Social and Economic Research (ISSER), Prof. Peter Quartey has charged the Board of the Bank of Ghana to ensure that there is a balance when it comes to government’s source of borrowing. A look at the Summary of Economic and Financial Data released in July by the…
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GREDA wants government to take the lead in adoption of local building materials
The Ghana Real Estate Developers Association (GREDA) is calling on the government to take the lead in the use of local materials for construction in Ghana. This according to the association will boost the confidence of the public in local building materials. In the wake of the high cost of rent in Ghana and the…
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LUKOIL raises questions over government’s plan to increase its shares in DWT/CTP
International Oil & Gas Company LUKOIL has expressed concerns over government’s recent attempts to acquire a major stake in the Deepwater Tano/Cape Three Points (DWT/CTP) bloc operated by Aker Energy Ghana Limited. According to LUKOIL, being one of the main partners in the DWT/CTP project, with a 38% Licence Interest and a 42.22% Participating Interest,…