Category: Local Economy
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Interest rates to drop in ‘two to three months’ following policy rate reduction – Consultant
Interest rates on loans for businesses and individuals should begin dropping in response to the lowering of the monetary policy rate by 100 basis points to 13.5% in May, 2021. The Monetary Policy Committee (MPC) of the Bank of Ghana, for the first time since March 2020, reduced the policy rate to 13.5% after it…
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Fuel prices may rise marginally in first pricing window of June – IES
Consumers of petroleum products might be paying slightly higher prices for the fuel they purchase at the country’s various pumps as we enter the month of June. According to an analysis by the Institute of Energy Security (IES), the increase can be attributed to the 3.50% rise in price of Brent crude, together with the…
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2021 Citi Business Festival takes off today
The 2021 edition of the Citi Business Festival starts today, Tuesday June 1, 2021, with an array of radio and TV programmes. The month-long festival of business events and on-air activities provides inspiration, business ideas and information for persons who are starting, building or growing their businesses. This year’s Citi Business Festival will feature virtual…
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BoG cuts policy rate to 13.5%, first time since March 2020
In its quest to foster economic growth and ensure financial stability in response to developments on the local and external front, the Monetary Policy Committee, MPC, of the Bank of Ghana, BoG, at the 100th Monetary Policy Committee Meeting, has for the first time since March 2020 reduced the policy rate to 13.5 percent. This…
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Ghana’s debt crosses GHS300 billion mark as debt-to-GDP ratio drops to 70.2%
Ghana’s total public debt stock has increased once again according to new data released by the Bank of Ghana. The debt stock which ended 2020 at GHS291.6 billion, saw about GHS13 billion being added in the first quarter of 2021. This represents an increase of about 4 percent, and brings Ghana’s total public debt as…
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Citi Business Festival starts on June 1
The 2021 edition of the most anticipated business programme, the Citi Business Festival will start on Tuesday, June 1. The Citi Business Festival is a month-long initiative marked with on-air and outdoor events held annually in the month of June to equip the Ghanaian business community with strategies needed to grow and scale up their…
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Obuasi: Anglogold Ashanti retrieves body of missing miner
Anglogold Ashanti has retrieved the body of a miner, who together with other workers were trapped about two weeks ago after an underground mining pit caved in. The underground mining pit is part of the concession of Anglogold Ashanti, Obuasi Mine. The company in a statement said the miner’s body was retrieved on Saturday, May…
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Stakeholders call for intensified efforts in adding value to Ghana’s cocoa exports
The CEO of the Ghana Investment Promotion Centre (GIPC), Yofi Grant, says the absence of “cocoa billionaires” in Ghana is a sign that the country has not efficiently “monetized and domesticated” the crop that regularly brings about two billion dollars of foreign exchange into the country. According to him, despite having produced cocoa over the…
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Current crude, gas prices don’t support proposed increase in electricity tariffs – CUTS International
Research and public policy think tank, CUTS International, says a review of the prices of some key inputs for the generation of power, such as crude oil and gas on the international market, does not support the proposed upward adjustment in electricity tariffs. Already, the PURC has begun engagement with stakeholders to solicit their inputs…
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We’ll ensure VW’s investment in Ghana yields results – Akufo-Addo
The President, Nana Akufo-Addo has assured Volkswagen (VW) Ghana of its commitment to the success of the company, along with other automobile companies in the country. The remarks were made when the new Chairman and Managing Director of the Volkswagen Group for Sub-Saharan Africa, Dr. Robert Cisek, paid a courtesy call on the President at…