Category: News
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Govt will achieve IMF, World Bank growth projections—Ofori-Atta
Finance Minister, Ken Ofori-Atta has stated that Ghana will meet its 2019 growth projections set by the International Monetary Fund (IMF) and World Bank. Some analysts have questioned the significance of the 8.8 percent and 7.6 percent growth rate projections made by the IMF and World Bank for Ghana’s Economic growth for 2019, saying that…
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Telcos start payment of interests on mobile money for 2019
Users of mobile money services of the various telecommunication companies should be receiving interests on their wallets for the first quarter of 2019, by the end of this week. It comes on the back of the publication of the interest payment calendar by the Bank of Ghana. The payment calendar for interests on mobile money…
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Amazon plans to shut online store in China
Amazon plans to shut its online store in China that allows shoppers to buy from local sellers as it downsizes operations in the country. The firm said it would no longer run the domestic marketplace from July, but Chinese shoppers will still be able to order goods from Amazon’s global store. It will also continue…
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TUC, other groups sign MoU with gov’t to participate in management of economy
The Trades Union Congress (TUC) and the Employers Association have signed a Memorandum of Understanding with the Finance Ministry and the Ministry of Employment and Labour Relations for effective participation in discussions relating to the management of the economy. The TUC and the Employers Association now have a slot to make inputs into policies pertaining…
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Ghana sells 380,000 T of 2019/20 cocoa export contracts by mid-April
Ghana’s cocoa marketing company has sold around 380,000 tonnes of export contracts for the 2019/20 season, sources there and at the industry’s regulator Cocobod. The Cocobod source said between 60,000 and 80,000 tonnes of export contracts were sold during the first 10 days of April. The sources provided no comparative figure for the 2018/19 season.…
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Government to review fuel costs, taxes for airline companies
The Ministry of Finance has announced that it is working to reduce the cost of aviation fuel and other taxes for airline companies operating in Ghana. The move is among others, to make Ghana more competitive in the aviation industry within the sub region. Deputy Minister of Finance, Kwaku Kwarteng disclosed the plan at the…
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Ghana cuts its cocoa crop forecast due to plant disease
Ghana cut its forecast for the current season’s cocoa harvest by 6 percent because of plant disease in its biggest growing region, according to two people familiar with the matter. The regulator of the world’s second-biggest cocoa producer lowered the production estimate for the annual crop through September to 850,000 metric tons, from 900,000 tons…
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$23m AFT Fund to support bankable agriculture projects in Sub-Saharan Africa
The African Development Bank is confident a newly secured $ 23 Million grant under the Agriculture Fast Track Fund, will go a long way to improve some aspects of the Agriculture value chain in Ghana. The funds, which will benefit 17 new projects in 8 countries, is expected to be used for feasibility studies, market…
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FDA prevents unwholesome rice from entering Ghana
Citi Business News’ checks at the Food and Drugs Authority(FDA) has revealed that the Authority received an alert on some substandard rice that was being imported into the Ghanaian market from Myanmar. Officials at the FDA quickly moved to prevent the unwholesome rice from entering Ghana with the aid of the customs division and other…
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Ghana’s economy grows by 6.3% in 2018
Ghana’s economy grew by 6.3 percent in 2018, witnessing a drop in growth when compared to the 8.1 percent recorded in 2017. The total value of all goods and services produced in the country in 2018 also amounted to 154.5 billion cedis. Per figures released by the Ghana Statistical Service, the industry subsector recorded the…