Category: Local Economy
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Government urged to minimize interference in decision making activities of SOEs
Senior Partner at AB & David, David Ofosu-Dorte says privatization of State Owned Enterprises (SOEs) is not the only way to ensure they consistently churn out profit and help in the growth of Ghana’s economy. According to him, in spite of the high proceeds, the net direct revenue from privatization has been relatively modest, due…
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Dr. Bawumia’s speech did not address current economic challenges – Economist
Economist, Dr. Patrick Asuming has stated that Vice President Dr. Mahamudu Bawumia’s presentation on the state of the economy on Thursday, did not fully address the current economic challenges Ghanaians are facing. According to him, Dr. Mahamudu Bawumia presentation was uninspiring because it did not offer hope to the ordinary Ghanaian. The speech was necessitated…
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Bawumia defends govt’s handling of Ghana’s ailing economy
Vice President Dr. Mahamudu Bawumia, has mounted a strong defense for the government’s handling of the Ghanaian economy in light of rising criticisms from stakeholders over the last few years. In a lecture on the state of the economy on Thursday, he maintained the management of the fundamentals of the economy has been successful even…
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Ghana’s free market structure prohibits regulation of cryptocurrencies – Banking Consultant
Banking consultant Nana Otuo Acheampong has blamed Ghana’s free-market economy for the Bank of Ghana’s inability to institute punitive measures to prevent persons from introducing and operating cryptocurrency schemes in the country. The remarks follow recent press releases by the Bank of Ghana (BoG) warning the public against patronizing cryptocurrencies such as Bitcoin and the…
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Stop pricing goods and services in foreign currencies – BoG warns
The Bank of Ghana (BoG) has cautioned persons pricing goods and services in foreign currencies to desist from such practices or have themselves to blame. According to the apex bank, such practices breach the Foreign Exchange Act, 2006 (Act 723) which prohibits companies and institutions from pricing, advertising, receipting, or making payments in foreign currencies…
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Gov’t urged to introduce programmes to improve employability of youth
Associate Professor at the Department of the Economics at the University of Ghana, Prof. Ebo Turkson, has challenged government and various stakeholders within the job creation space, to redesign initiatives to include soft skills training as it will improve the employability skills of the youth in the country. According to him, this will help in…
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Traders switching to cash transactions due to e-levy – TAGG
The Traders Advocacy Group Ghana (TAGG) has described as unfavorable the passage of the Electronic transaction levy (E-levy) on their daily business transactions. Though not entirely against the policy, the group has since advocated against the module of the e-levy because the members say, it will only plunge the business community back into the era…
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GUTA urges gov’t to get other countries to open their borders to facilitate trade
The Ghana Union of Traders Association (GUTA) has added its voice to calls on government to get Ghana’s neighbouring countries to also reopen their land borders, more than a week after President Akufo-Addo announced the reopening of Ghana’s land and sea borders President Nana Akufo-Addo’s announcement of a reopening of Ghana’s land and sea borders,…
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SOEs record ¢2.61 billion loss in 2020 – Report
Latest data from the 2020 State Ownership Report reveals that State Owned Enterprises (SOEs) recorded an aggregate loss of ¢2.61 billion in 2020. This represents nearly 50% improvement over the 2019 aggregate loss of ¢5.16 billion. Despite the progress made, the 2020 Report which is based on 132 SEs in total (47 SOEs, 17 JVCs,…
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Bawumia unveils joint venture companies under DIHOC
Vice President Dr. Mahamudu Bawumia has inaugurated twelve (12) joint venture production companies under the Defence Industries Holding Company Limited (DIHOC) of the Ghana Armed Forces (GAF), with a call on the business community to venture more into such collaborations with the armed forces. “[It is] Interesting, and it is very important [to know that],…