Category: Local Economy
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Leverage crises to improve fortunes of continent – Ofosu-Dorte
Senior partner at AB and David law firm, David Ofosu-Dorte is admonishing African governments and businesses to leverage crises to improve the fortunes of the continent. According to him, this will make the continent more resilient and self-sufficient. Speaking at the Citi TV and ISSER’s Cedi Summit in Accra, David Ofosu-Dorte, noted that every crisis…
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Unilever Ghana PLC remains upbeat about future growth prospects
Managing Director of Unilever Ghana PLC, George Owusu-Ansah, has stated that it is optimistic about his outfit’s growth prospects. This comes as the company recorded an increase in revenue of about 23% for the year 2021 despite the impact of the lingering COVID-19 on businesses. Taking its turn at the ‘Facts Behind The Figures’ forum,…
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BoG must enforce regulations on informal forex trading – Prof. Quartey
Economics Professor and the Director of the Institute of Statistical, Social and Economic Research, Prof. Peter Quartey has bemoaned the seeming lack of action against persons engaged in the illegal trade of foreign exchange, especially the US Dollar, in different parts of the country. According to him, the informal foreign exchange market is contributing to…
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Employ targeted-subsidized systems to check macro-economic challenges – Prof. Quartey
As part of efforts to address the various macro-economic challenges facing the Ghanaian economy in recent times, Director of the Institute of Statistical, Social and Economic Research, at the University of Ghana, Prof. Peter Quartey is calling for targeted fiscal policy and subsidy interventions. This comes on the back of the continuous fuel price hikes…
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Inflation in Africa: Some subsidy programs prolonging situation – Jeff Gable
The Head of FICC Research and Chief Economist at ABSA; Jeff Gable, says the consistent introduction of subsidies in the midst of global economic challenges will only prolong the effects of inflation in that country. According to him, governments in Africa must rather focus on slowing down demand for products rather than subsidizing the cost.…
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Cedi Summit comes off today at Alisa Hotel
The much anticipated Citi Business Festival Cedi Summit comes off today, June 27, 2022, at the Alisa Hotel. The one-day Economic Summit being organised by Citi TV in partnership with the Institute of Statistical, Social and Economic Research (ISSER) and ABSA Bank Ghana, as part of the 2022 Citi Business Festival will host seasoned speakers…
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BoG’s supply of dollars to BDCs drops from 85% to 21% within 3 months – CBOD
The Ghana Chamber of Bulk Oil Distributors (CBOD), has called on other players in the foreign exchange supply market to step up their efforts to ensure the demand for US Dollars by Bulk Distributing Companies (BDCs) is met. This, according to the CEO of the Chamber, Senyo Hosi, is important as the quantum of US…
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‘We’ve generated only 10% of estimated E-Levy revenue so far’ – Gabby Otchere-Darko
The electronic transactions levy (e-levy) introduced by government to generate additional cash for the government is raking in only 10% of estimated revenue, according to a leading member of the governing New Patriotic Party, Gabby Asare Otchere-Darko. The government commenced the implementation of the levy on May 1, 2022, after its initial announcement in the…
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BoG, CSA deepen collaboration to fight cyber threats
The Bank of Ghana (BoG) and the Cyber Security Authority (CSA) have agreed to improve collaboration and timely information flow to facilitate incident reporting and information sharing on cybersecurity issues. The two institutions have also committed to collaborate more closely on cyber and information security related matters and to provide each other with all the…
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Ghana International Bank reaches agreement with UK’s FCA over £5.8m fine
The Ghana International Bank (GHIB) says it has reached a settlement agreement with the UK’s Financial Conduct Authority (FCA) in its investigation into GHIB’s unsatisfactory anti-money laundering (AML) controls. The FCA had earlier fined the bank 5.8 million pounds after discovering some deficiencies in its anti-money laundering systems. Between January 2012 and December 2016, the…