Category: Local Economy
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Ghana set to start debt-restructuring talks for local bonds
Ghana is poised to start talks with domestic bondholders on a restructuring of its local-currency debt as part of the West African nation’s plan to secure a $3 billion loan from the International Monetary Fund. The country’s eurobonds extended declines. This is according to the Bloomberg. The nation’s largest debt investors including local banks and…
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West Africa Connect provides platform to boost mango, cassava and ICT sectors
Ghana’s mango, cassava and ICT sectors is set to receive a boost as Micro, Small and Medium-sized Enterprises (MSMEs) suppliers in the sector are being connected to buyers in and outside the ECOWAS sub-region, through the West Africa Connect platform. The move is part of efforts to promote regional trade and make it easy for…
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Cedi depreciation: BoG, Police arrest over 70 ‘Black Market’ dealers
Officials of the Bank of Ghana, in collaboration with the Ghana Police Service, have arrested over 70 individuals and entities engaged in the business of buying and selling foreign exchange without a licence from the apex bank. The move follows a special operation conducted by the two institutions on foreign exchange parallel market operators, otherwise…
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Bank of Ghana’s MPC meets over economy today
The Monetary Policy Committee (MPC) of the Bank of Ghana will today [September 20, 2022] commence its annual meetings to review developments in the economy. The meeting will also come out with the Monetary Policy Rate which is of keen interest to businesses, as it determines the rate at which the Bank of Ghana lends…
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Ghana’s ailing economy: A look at the inflation trend in 2022
Ghana’s economy has overly performed poorly this year and with just three months left to the end of year, it doesn’t seem like there’s light at the end of the tunnel. Prices continue to soar for both food and non-food items of which transport, housing, utilities, and prices of imported goods are rising more than…
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Passion Air commences flight operations to Sunyani Airport
Ghana’s domestic air travel market is set to witness a major boost with the commencement of flight operations of domestic airline operator with the largest route network in the country, Passion Air to the Sunyani Airport. The flight, according to the company, indicates the start of Passion Air’s Sunyani route which would fly on Mondays,…
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Bora Capital launches two collective investment schemes
Bora Capital Advisors, has launched two of its collective investment schemes, the Bora Fixed Income Unit Trust and Bora Balance Unit Trust. The schemes are targeted at Ghana’s retail and institutional markets to service a growing client demand and also meet a regulatory directive from the Securities and Exchange Commission (“SEC”), that all clients with…
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Ghana coconut in high demand in export markets — GEPA
The Director of Public Relations at the Ghana Export Promotion Authority (GEPA), Ruth Maafo, has outlined interventions the government of Ghana is currently rolling out to boost coconut production and export in Ghana. Speaking to journalists ahead of the 2nd International Coconut Festival, Ruth Maafo, stated that coconut from Ghana is in high demand globally…
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Ghana’s inflation rate rises again; hits 33.9% in August 2022
Ghana’s inflation for August 2022 rose to 33.9 percent. This was announced by the Government Statistician, Prof. Samuel Annim at a press conference on Wednesday, September 14, 2022, when he gave a breakdown of the Consumer Price Index (CPI) and Inflation for 2022. Food inflation for August 2022 was 34.4 percent as against 32.3 percent…
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Ghana Startups and SMEs Week celebration gets national support
A week earmarked purposely to celebrate Ghanaian Startups, Small and Medium scale businesses has been launched at the Accra Digital Center, with massive commitment from key Ministries and Agencies. The Deputy Minister for Trade and Industry, in charge of Small and Medium Enterprises (SMEs), Hon. Nana Ama Dokua Asiamah-Adjei, launched the 2022 edition, with a…