Category: Local Economy
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We’ll continue to implement policies to build strong insurance sector – NIC
The National Insurance Commission (NIC) has assured of continued efforts to increase insurance penetration in the country in 2022. According to the NIC, even though insurance is one of the most important sectors in the economy, it has not recorded the needed patronage it deserves. Speaking on behalf of the Commissioner of Insurance at the…
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Continuous travel restrictions may impact international traffic to Ghana – Aviation Analyst
Aviation analyst Sean Mendes says the continued imposition of air travel restrictions in different parts of the world will hamper the ability of Ghana’s aviation sector to fully bounce back to pre-pandemic levels. Despite the strong performance of the domestic sector in 2021, international travel traffic is still underperforming. The Ministry of Foreign Affairs has…
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Registrar-General delists 2,788 firms from companies register
The Registrar General’s Department has delisted 2,788 companies from Ghana’s Companies Register for defaulting to file their annual returns with the department. The affected companies failed to comply with the directive issued by the department to file their annual returns or risk being delisted from the Companies Register. In a statement copied to Citi Business…
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No need to extend retirement age to 65 – Labour Analyst to SSNIT
Labour Analyst, Austin Gamey, has advised against the possible increment of the retirement age from 60 to 65 years. The Director-General of the Social Security and National Insurance Trust (SSNIT), Dr. John Ofori-Tenkorang, earlier this week, announced at a press briefing in Accra, that his outfit is seeking further discussions with government and labour unions…
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Ghana’s inflation rate accelerates to 12.6% in December 2021
Data from the Ghana Statistical Service shows that the year 2021 ended with a national inflation rate of 12.6%. Compared to the 12.2% recorded in November 2021. This new figure represents a 0.4% rise in the inflation rate. Month-on-month inflation between November and December 2021 was 1.2% This is the 7th consecutive time the inflation…
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Agribusiness support will remain our priority – ADB Board Chair
The Board Chairman of the Agricultural Development Bank (ADB) Limited, Daasebre Akuamoah Agyapong II, has reiterated the commitment of the Bank to support the agribusiness sector to meaningfully contribute to the Ghanaian economy. According to Daasabre Agyapong II, the Bank will continue to focus on its core mandate of agricultural financing to ensure the sector…
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Gov’t charged to address exorbitant fees of shipping lines once and for all- GIFF
The Ghana Institute of Freight Forwarders (GIFF) is urging the government to take a closer look at the shipping lines operating in Ghana and the exorbitant fees they charge importers and exporters. According to the freight forwarders who are in charge of the import and export of goods, the unreasonably high fees of shipping lines…
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Prices of goods won’t increase by 50% if benchmark discounts are reversed – AGI
The Association of Ghana Industries (AGI) has debunked claims and threats of a 50% hike in the prices of goods on the markets if the government goes ahead with the implementation of the reversal of discounts on benchmark values at the ports. The remarks follow consistent claims by the Ghana Union of Traders Association and…
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Don’t backtrack on reversal of benchmark value discounts – AGI urges gov’t
The Association of Ghana Industries (AGI) is urging the government not to relent in its goal of implementing the reversal of the reduction in benchmark values policy introduced in 2019. The remark follows President Nana Akufo-Addo’s directive to the Ghana Revenue Authority (GRA) to suspend the planned implementation of the policy reversal, for further consultations.…
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Rice Millers call for swift implementation of reversal of 50% discount on benchmark values
The Rice Millers Association says the reversal of the benchmark values is important to growing the country’s local industry and enabling it to thrive. The association had long advocated for a reversal of the discounts, saying such a move will help in improving the fortunes of the local rice industry. According to the Rice Millers…