Category: Local Economy
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Paul Adom-Otchere appointed board chair of Ghana Airports Company
President Nana Addo Dankwa Akufo-Addo has appointed broadcaster Paul Adom-Otchere as the board chair of the Ghana Airports Company Limited (GACL). Mr. Adom-Otchere had previously served as a board member of the National Communications Authority. The board of GACL also has three other presidential appointees; Teye Adjirackor, Kwabena Mantey Jectey Nyarko and Philomena Sam. The…
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Ghana’s real estate industry can recover despite impact of COVID-19 – Greg Pearson
Players in the real estate industry are hopeful of a major turnaround of the sector locally, despite the impact of the COVID-19 pandemic. The sector took a nosedive due to the outbreak of COVID-19. Several months down the lane, with a global rollout of vaccines, easing of some restrictions, economies have begun to pick up.…
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GUTA backs calls for reversal of 50% benchmark value reduction on crude palm oil
The Ghana Union of Traders Association (GUTA) has backed calls by the Oil Palm Development Association of Ghana and the Artisanal Palm Oil Millers and Outgrowers Association of Ghana for the scrapping of the 50% Benchmark Value Reduction Policy on crude palm oil and palm kernel oil. According to GUTA, even though the country cannot…
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State Owned Enterprises to be ranked to improve performance
As part of measures aimed at ensuring the efficiency of State Owned Enterprises (SOEs) in the country, a system which will show their individual performances will soon be put in place for public consumption. This was announced by the Public Enterprises Minister, Joseph Cudjoe. The value of Ghana’s 126 State-Owned Enterprises (SOEs) is GH¢110 billion,…
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![Construction industry still suffering as prices of building materials keep increasing [Video]](https://citibusinessnews.com/wp-content/uploads/2021/09/building-blocks.png)
Construction industry still suffering as prices of building materials keep increasing [Video]
For months now, prices of building materials in Ghana have seen a consistent surge, with no sign of respite soon. The price of cement, for instance, has increased by almost 43 percent between December last year and September 2021. The situation, according to analysts, is having a dire effect on the building industry. In this…
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Prof. Quartey cautions against a return to ‘dark days of banking’ in Ghana
Economist and Director at the Institute of Statistical, Social and Economic Research (ISSER), Prof. Peter Quartey has cautioned against a return to the dark days of the banking industry in Ghana. According to him, the new board of the Bank of Ghana should among other things continuously assess the soundness of the industry to ensure…
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Peter Quartey hails Government’s approach to setting up Development Bank Ghana
Director of the Institute Of Statistical, Social And Economic Research, ISSER, Prof. Peter Quartey believes the government is on the right track with its approach in setting up the new Development Bank Ghana. The Development Bank according to the Director of the Financial Sector Division of the Ministry of Finance, Samson Akligoh is being set…
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1st Deputy BoG Governor proposes strategies to propel economic recovery
The First Deputy Governor of the Bank of Ghana, Dr. Maxwell Opoku-Afari has prescribed a number of remedies to aid the recovery of the local economy following the Covid-19 pandemic. Addressing a public lecture organised by the University of Ghana Business School Under the theme, “Re-Thinking Development Finance: Macroeconomic Management When The Love is Gone,”…
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Social mandate of DBG should not override commercial interest – Dr. Vera Fiador
A senior lecturer at the Department of Finance of the University of Ghana, Dr. Vera Fiador says even though the Development Bank Ghana (BBG) is being established with a social mandate of providing patient capital for specific sectors of the economy, Investment drawings from the bank must also be financially sustainable. DBG is being established…
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Minister urges GIISDEC board to fulfill mandate in iron ore and steel production
The Minister for lands and natural resources, Samuel Abu Jinapor has charged the newly inaugurated board of the Ghana Integrated Iron Ore and Steel Development Corporation (GIISDEC) to work to ensure the development of an efficient framework to manage the country’s special minerals. Although the country can boast of reserves of aluminium, iron ore and…