Category: News
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Cedi depreciation pushes PPI to 5.4 percent
The Producer Price Inflation for February 2019 went up by 5.4 percent. This represents a 2. 0 percentage point increase from the 3.4 percent recorded in January 2019. The Producer Price Index is the price manufacturers and producers sell their products at the wholesale level. The 5.4 percent increase means retailers paid more on goods…
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COCOBOD signs new $300m facility to boost cocoa production
Ghana Cocoa Board (“Cocobod”)has signed a new 3-year receivables-backed trade finance facility of US$300m. The Facility will be used to refinance Cocoa Bills raised by Bank of Ghana on behalf of Cocobod and/or to finance production enhancement programmes. Cocobod represents various interests of the Ghanaian cocoa industry. It was established in 1947 with the mission…
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Energy Commission to sanction homeowners with improper wiring
The Energy Commission has warned it will sanction owners of buildings that are over 10 years that have not been inspected and rewired. The Commission has served notice it has begun the enforcement of the Electrical Wiring Regulations 2008 which was passed in 2012. The law requires that all buildings both commercial and private residents…
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Ghana to reduce rice import by 50% in 2019—Ministry of Agriculture
The Ministry of Agriculture says plans are in place to reduce the importation of rice by at least 50 percent this year. This is to enhance the growth and consumption of local rice in Ghana. Currently, Ghana imports 331 million dollars of rice annually, a development stakeholders have described as worrying. Speaking to Citi Business…
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Vodafone launches 4G services; intensifies competition
Vodafone Ghana has officially launched its 4G Long-Term Evolution (LTE) service The service represents the next stage of the mobile data revolution. It is designed to work efficiently than any other before it; allowing customers to experience fast speeds, high-end network quality, faster downloads and uploads. The LTE technology operates in the 2x5MHz frequency block…
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Cedi struggles: We need to focus on structural problems – Nana Addo
President Nana Akufo-Addo has called for broadening of the discussions on the struggling cedi which he previously said has left him “extremely upset and anxious”. Speaking at a meeting with the leadership of the Ghana Bar Association, President Akufo-Addo said the focus should be turned to the structural problems of the economy. “Our public discourse should also…
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Gov’t raises 3 billion dollars Eurobond
Government has issued 3 billion dollars Eurobond which will mature over three periods of time. The three tranches come at a maturity period of seven years with 7.875 percent coupon rate, 12 years with 8.125 percent coupon rate, and 31 years with 8.95 percent coupon rate. The bond which was the highest ever for an African…
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Women farmers urged to explore other sources of income
Nana Adwoa Dokua, a Member of the Board of Directors of Ghana Cocoa Board (COCOBOD) who also doubles as the Ambassador for the Women in Cocoa and Chocolate Network (WINCC) has called on women in cocoa farming to develop their skills to earn additional income from the production of cocoa. The women were entreated to…
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3 billion dollars Eurobond could attract high coupon rate—Prof. Bopkin
Ghana could attract a high coupon rate on its 3 billion dollars Eurobond yet to be issued later this month, that is a verdict from economist, Professor Godfred Bokpin. Professor Bokpin is of the view that recent activities in the banking sector, coupled with other factors could lead to the coupon rate going up. A…
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MTN Ghana launches 4G+ service to provide faster data speed
MTN, Ghana’s leading telecommunications service provider, has launched its 4G+ service to provide faster data speeds with widest coverage for its customers. The 4G+ service runs on 4G LTE Advanced technology using the combination of the 800MHz and 2600MHz for carrier aggregation which is an enhancement on the 4G LTE experience. This provides more capacity…