Category: Local Economy
-
Fuel price hikes: Ride-hailing drivers call for adjustment in transport fares
The National Alliance of Digital Drivers is calling on their employers to adjust their fares upwards to make up for the increase in fuel prices. According to the Association, the continuous hike in fuel prices is taking a toll on their finances. A litre of fuel at the pumps crossed ed the GH¢7 mark in…
-
Attorney General’s Department to prosecute non-compliant data controllers
The Data Protection Commission of Ghana has compiled a list of non-compliant data controllers to be forwarded to the Attorney General’s department for prosecution. This follows refusal by some Data Controllers to register with the Data Protection Commission as mandated by law under Section 46(3) of the Data Protection Act 2021 (Act 843). Ghana joined…
-
Moody’s downgrades Ghana’s economy to Caa1 with stable outlook
Moody’s Investors Service (Moody’s) on Friday, February 4, 2022 downgraded Ghana’s long-term issuer and senior unsecured debt ratings to Caa1 from B3 and changed the outlook to stable from negative. It said the new rating of the country’s economy reflects the woes Ghana is facing in fixing its liquidity and debt challenges. It also faulted…
-
Clement Akapame, Lom Ahlijah launch book titled ‘Commercial Law In Ghana – Sourcebook’
A book providing Ghanaian literature on Commercial Law has been launched at the Ghana Institute of Management and Public Administration (GIMPA). The book “Commercial Law In Ghana – Sourcebook,” was written by private legal practitioners Clement Akapame and Lom Nuku Ahlijah and launched on Thursday 3rd February 2022. The 424-page hardcover book, written as a…
-
Private management of national airline critical for its success – Daniel Mckorley
Executive Chairman of embattled McDan Aviation, Daniel Mckorley is calling for private management of the proposed national airline if it is to succeed this time around. President Nana Akufo-Addo in his 2021 State of The Nation address, stated that Cabinet had granted policy approval for the establishment of a National Flag Carrier or Home Based…
-
PMMC appeals for gov’t support to settle its GH¢65 million debt
The Precious Minerals Marketing Company (PMMC) Limited, is calling for government support to settle a legacy debt of over GH¢65 million. The company owes some four banks, and the debt has accrued over a ten-year period. The revelation comes after the 2020 Auditor General’s report, revealed that losses posted by state enterprises and specified entities…
-
Seth Terkper advises against e-levy; urges government to run to IMF
A former Finance Minister, Seth Terkper, is asking the government to heed to calls by stakeholders to return to the International Monetary Fund (IMF) to finance the country’s deficit instead of taxing Ghanaians through the electronic transfer levy. Mr. Terkper who has already registered his opposition to the idea of the e-levy, believes the government…
-
Shippers’ Authority eyes boost in transit trade as it shelters truck drivers
Transit truck congestion at the Elubo border and the haphazard parking of cargo trucks in the Jomoro Municipal Assembly has become a thing of the past with the construction of the Elubo Freight Park. The project which was initiated and funded by the Ghana Shippers’ Authority (GSA) with support from the Jomoro Municipal Assembly was…
-
Rate of increase in value of MoMo transactions dipped in 2021
The value of mobile money transactions in Ghana witnessed a significant dip in its rate of increase in 2021 when compared to the rate of increase in 2020. This is according to data from the Bank of Ghana. Whereas the value of mobile money transactions increased by over 100% from December 2019 to December 2020,…
-
Bank of Ghana maintains policy rate at 14.5%
The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has maintained the policy rate at 14.5% percent. This is the second time the Central Bank has maintained the rate after increasing it by 100 basis points in November 2021. The rate, which is of keen interest to businesses, does not only signal the…