Category: Local Economy
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Construction Chamber chastises stubborn contractors slowing down ongoing payment process
The Ghana Chamber of Construction Industry has described as unfortunate the unwillingness of some contractors to avail themselves to be paid by the government. At the moment, the chamber says contracts worth up to GHC 1 million that are in arrears are being paid by the government. This comes after years of calling on the…
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E-levy; Telco’s must scrap charges on transfers ahead of implementation – Dr Ampaabeng
As the conversation of the electronic transaction levy continues to hang in the balance in parliament, Tax consultant, Dr Alex Ampaabeng is proposing the scrapping of charges on all mobile money transactions. Dr Ampaabeng believes the removal of the charges by telcos will make the implementation of the levy by the government less burdensome for…
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BoG responds to Togbe Afede XIV on High Interest Rates in Ghana
The Bank of Ghana’s attention has been drawn to a recent article published on JOY FM online platform (myjoyonline.com) with the caption: “Bank of Ghana has lost focus”, and which has since been republished by other media houses and circulated widely on social media. In the said article, Togbe Afede XIV is reported to have…
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American Chamber of Commerce assures of more collaborations between Ghana and USA to boost trade
As the first year of the implementation of the African Continental Free Trade Area (AfCFTA) comes to an end, the United States Ambassador to Ghana, Stephanie Sullivan, has assured of deepened trade relations between Ghanaian and American businesses to enhance their activities and capture new foreign direct investment. According to the Chamber, Ghana’s political stability,…
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Chartered Institute of Logistics and Transport announces Chief Teete Owusu-Nortey as new President
The Chartered Institute of Logistics and Transport (CILT) has announced the appointment of Chief Teete Owusu-Nortey as President-Elect of the institute. A press statement issued on the Institute’s website, notes that Chief Teete Owusu-Nortey will assume his role as President-Elect from January 1, 2022. “The Trustees are delighted to announce that Chief Teete Owusu-Nortey, FCILT…
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Increasing interest rates in tandem with policy rate not prudent – Banking Consultant
Banking consultant Nana Otuo Acheampong says it is in the interest of banks not to increase their interest rates in tandem with increases in the monetary policy rate of the Bank of Ghana. The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) a few weeks back, increased the Monetary Policy Rate (MPR) by…
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BoG forwards suspected financial crime cases to EOCO for further probe
The Bank of Ghana has forwarded a number of suspected financial crime cases to the Economic and Organised Crime Office (EOCO) for investigations. According to the Central Bank, these include suspicious claims to the Bank of Ghana for the payment of certain large sums of money purportedly remitted to them by foreign counterparties through some…
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Ghana imported GH¢6.9 billion worth of rice from 2017 to 2020 – Alan Kyerematen
Minister for Trade and Industry, Alan Kwadwo Kyerematen has revealed that an amount of GHC 6.874 billion was spent on the importation of rice from 2017 to 2020. This comes on the back of consistent calls for the ramping of the production and consumption of local rice in Ghana. Rice is the second most important…
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Housing, fuels, food etc. push November inflation to 12.2 %, highest since 2019
Increases in prices associated with housing and transport across the country as well as an overall increase in the contribution of food inflation to national inflation have pushed the rate for November 2021 to 12.2 %. This is according to the Ghana Statistical Service (GSS). The rate of inflation for the month of November is…
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5 regions of the north top list in food insecurity in Ghana – statistical service report
All the regions of the northern part of Ghana have ranked highest in food insecurity in the country. This was revealed in the 2020 Comprehensive Food Security and Vulnerability Analysis report by the Ghana Statistical Service has revealed. The upper east region led with 49% of food-insecure residents. In contrast, the Greater Accra and Central…