Category: Local Economy
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KIC, Mastercard Foundation train entrepreneurs in agriculture sector
The Mastercard Foundation and the Kosmos Innovation Center (KIC), have launched a multi-year partnership to train the next generation of young leaders, and entrepreneurs in Ghana’s agriculture sector. Dubbed Initiative for Youth in Agricultural Transformation (I.Y.A.T), the program will scale KIC’s proven transformational model and initiatives such as the AgriTech Challenge, Business Booster, and Business…
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Fuel prices reduced by 15 pesewas per litre effective April 1
Fuel prices in Ghana will go down by 15 pesewas per litre effective April 1, 2022. This reduction will be in place for three months. This was disclosed by the Minister of Finance, Ken Ofori-Atta, on Thursday, March 24, 2022, while announcing measures put in place by the government to cushion Ghanaians against current economic…
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PassionAir suspends flights to Ho over fuel price hikes, high exchange rates
Local airline operator, PassionAir, has suspended flights to the Volta Regional capital, Ho. According to the airline, although the new Ho route did not enjoy much patronage, the decision to suspend flights to that part of the country is mainly due to the increase in fuel prices. The airline, which started scheduled domestic operations in…
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Ofori-Atta to address Ghanaians today on measures to revive economy
Finance Minister, Ken Ofori-Atta, will today, Thursday, address Ghanaians on decisions taken by the government to address recent economic challenges facing the country. Ken Ofori-Atta is expected to give details of measures adopted by government to revive the struggling economy, a fallout from the the three-day Cabinet retreat held at the Peduase Presidential Lodge over…
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![Bank of Ghana’s March 2022 Monetary Policy Committee briefing [Full text]](https://citibusinessnews.com/wp-content/uploads/2022/03/Bank-of-Ghana-732x375-1.jpeg)
Bank of Ghana’s March 2022 Monetary Policy Committee briefing [Full text]
The Bank of Ghana (BoG) has increased the Monetary Policy Rate by 250 basis points to 17 percent. This is the first time the Central Bank has increased the key rate since November 2021. In his address to the media on Monday, March 21, 2022, Governor of the Central Bank, Dr. Ernest Addison, noted that all…
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TUC alarmed by rising fuel prices; demands suspension of taxes on petroleum products
The Trades Union Congress (TUC) has expressed worry over the frequent rise in the prices of petroleum products. The Union says the situation is having a huge toll on the general welfare of the populace and the business community. In a statement, the Union maintained that the unstable fuel prices have led to increases in…
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Increase in policy rate will make fixed income market more attractive – Economist
Following the recent hike in the policy rate, investors on the equity market are expected to re-adjust their portfolio holdings on the domestic stock market, to reap an increase from fixed income securities. This is according to Economist with Databank, Courage Martey. The Monetary Policy Committee of the Bank of Ghana, since November 2021, maintained…
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Standard Chartered Bank outdoors 20 entrepreneurs for Women in Tech Programme
Standard Chartered has announced the 20 successful businesses that will participate in Cohort 2 of the Women in Technology Incubator programme at an induction ceremony at the bank’s head office in Accra. The programme is a business incubator specifically designed to provide business support for women-led or women-owned businesses that leverage technology as part of…
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Bank of Ghana increases policy rate to 17%
The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has increased the policy rate by 250 basis points to 17 percent. This is the first time the Central Bank has increased the key rate since November of last year. The rate, which is of keen interest to businesses, signals the rate at which…
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Gov’t, stakeholders to meet over possible fuel price cuts – Oppong Nkrumah
Fuel consumers in Ghana may soon experience some relief with regard to the skyrocketing prices of petroleum products as the government seeks to engage with various stakeholders on possible cuts in some margins and levies on the price build-up. Information Minister, Kojo Oppong Nkrumah, who made the announcement at the Citi Breakfast on Monday said…