Category: Local Economy
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Fuel prices may cross GH¢8 soon if Russia-Ukraine tensions stay high – COPEC
The Chamber of Petroleum Consumers (COPEC) is warning that if nothing is done by authorities in Ghana, regarding the rising fuel prices on the global market as Russia invades Ukraine, fuel prices could cross the GH¢8 mark at the pumps in the first pricing window of March. A barrel of Brent Crude Oil which was…
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Rice millers kick against new benchmark values policy
The Rice Millers Association of Ghana, has described governments new directive to adjust the benchmark value policy to 30 percent discount for all goods and 10 percent for vehicles as a political move which goes against the country’s industrialization agenda. They argue the move will ultimately collapse the local rice industry. The association had long…
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Gov’t urged to introduce policies to cushion Ghanaians as fares go up on Feb. 26
Head of the Economics Division at the Institute of Statistical, Social and Economic Research, at the University of Ghana, Prof. Peter Quartey says stakeholders should expect the upcoming 15% increase in transport fares as announced by the Road Transport Operators, to increase national inflation in the coming months. The new fares, which are expected to…
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Police reiterates call for financial institutions to procure fit-for purpose bullion vans
The Ghana Police Service has reiterated calls for all financial institutions in the country to resort to the use of fit for purpose bullion vans for their cash-in transit activities. The remarks were made after the Police in the Greater Accra Region thwarted an attempted robbery attack on a bullion van at the North Industrial…
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Access Bank appoints Pearl Nkrumah as first female Executive Director
Access Bank Ghana Plc. has appointed its first female Executive Director, Pearl Nkrumah, to lead the bank’s Retail and Digital Operations. Pearl Nkrumah, the newest addition to the nine-member Access Bank Ghana Board, assumed duty early February 2022. Pearl Nkrumah brings a wealth of banking experience to the board, with over twenty-three years’ practice in…
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Lack of attractive mortgages to blame for NPLs in construction sector – GREDA
The Ghana Real Estate Developers’ Association (GREDA), is attributing the high Non-Performing Loans (NPLs) in the construction sector to the lack of attractive mortgages in the country. Data from the Bank of Ghana shows that repayment challenges associated with COVID-19 were paramount last year, with the NPL ratio in the banking sector increasing from 15.5…
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Gov’t urged to make Ghana a jewelry production hub in Africa
Acting Executive Vice President and Head of Gold Fields in West Africa, Joshua Mortoti has urged the government to prioritize turning Ghana into a jewellery production hub on the continent. Ghana overtook South Africa as the continent’s largest gold producer with 4.8 million ounces in 2018 and increased the production to 5.0 million ounces in…
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Poultry farmers blame reoccurrence of bird flu on delayed disinfection exercise
Members of the Greater Accra Poultry Farmers Association are blaming Ghana’s Veterinary Service for the reoccurrence of the bird flu outbreak across various regions in the country. They say the pour nature of the disinfection exercise caused the flu to affect more farms. According to the association, the veterinary service after destroying affected birds failed…
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COVID-19: Govt’s stimulus packages impacted positively on beneficiary firms – GSS Survey
Recent data from the COVID-19 Business tracker survey for wave III conducted by the Ghana Statistical Service, GSS, between 1st and 30th September 2021, has revealed an improvement in sales of some Small and Medium-sized Enterprises as a result of the government’s stimulus packages. The positive effect was evident amongst small businesses as their sales…
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Stakeholders advocate for accelerated development through value addition of country’s resources
The Board Chairman of the Mineral Income and Investment Fund, MIIF, Professor Douglas Boateng says Ghana’s position as the largest gold producer is worthless without visible development. According to him, it is unacceptable that there is not much evidence in terms of development despite Ghana’s rich natural resources. Professor Douglas Boateng made the assertion while…