Category: News
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Planned IMF exit causing investors to hold back funds as cedi suffers
Economist and consultant Dr. John Kwakye has stated that Ghana’s planned exit from the International Monetary Fund (IMF) programme next month has created uncertainties among some investors, contributing to the fall of the cedi against the dollar. According to him, some investors who are willing to bring their funds into the country are unsure of…
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Forbes, BusyInternet launch Forbes8 Digital video network
Forbes and BusyInternet today announced the availability of Forbes8, a digital network that features more than 2,000 videos designed to inspire every aspect of an entrepreneur’s journey. BusyInternet has for the past 18 years built a strong heritage of empowering its customers and supporting businesses – particularly small- and medium-sized businesses – to grow and fully…
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Govt delegation led by Finance Minister begins Eurobond roadshow
A government delegation comprising a team from the Ministry of Finance and officials from the Bank of Ghana (BoG) will today begin a Eurobond road show. Government is planning to raise three billion dollars through the bond to cater for infrastructure development in the 2019 budget as well as retire some maturing debt. The Minister…
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GRA misses Tax Amnesty Policy target of GHS500 million
The Ghana Revenue Authority (GRA) missed its 2018 Tax Amnesty Policy target of GHS500 million. The GRA was able to recoup GHS287 million cedis from the Policy which ended in September 2018. The Authority projected to recoup between GHS300 million and GHS00 million from the policy it introduced to encourage the taxable citizens who had not…
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Cedi depreciation must be halted to save industries–AGI
The Association of the Ghana Industries(AGI) has urged government to put in measures that will stabilize the cedi against the dollar. This follows a recent announcement by the Finance Minister, Ken Ofori-Atta, that the free fall of the cedi against the dollar, will be curtailed in the coming weeks. The cedi has depreciated against the…
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We’ll look into reasons for recent blackouts – PURC
The Executive Secretary of the Public Utilities Regulatory Commission (PURC), Mami Dufie Ofori, has said the commission will look into the reasons given by the Power Distribution Services Limited (PDS) for the recent power outages. PDS has faced increased scrutiny following the near-total grid shutdowns. he blackouts have been attributed to ongoing construction of the road interchange at Pokuase,…
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Orca Deco opens ultramodern office showroom
Ghana’s leading retail Home furniture, deco and office company, Orca Deco has opened one of the largest office showrooms in Ghana to serve varied customers across the country. Marketing Manager for Orca Deco, Emma Louise de Ricquebourg explained that “Opening a showroom this big and this beautiful exclusively dedicated to office, shows how much Ghana…
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Eskom Intensifies South Africa Power Cuts as More Units Fail
Blackouts in South Africa intensified to a maximum level on Saturday after the state power utility said it lost additional generation, including electricity imports from Mozambique. The power cuts, first implemented over the weekend to replenish water and diesel designed for surplus generation, were raised to so-called Stage 4, removing 4,000 megawatts from the grid, Eskom…
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We’re nowhere near the era of dumsor—Energy Minister insists
Energy Minister, John Peter Amewu has called on Ghanaians to dismiss claims by the Minority in Parliament that government has returned the country to an era of load-shedding popularly called “Dumsor”. This follows recent calls by the Minority on government to be candid with Ghanaians and release a load shedding timetable following the recent power…
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Cedi depreciation to push fuel prices to ‘all time high’ –IES
The Institute of Energy Security is predicting that prices of fuel will reach an all-time high within the second pricing window in March. The IES says fuel prices could go up by 2.5%. This, they attribute to the depreciating rate of the cedi. Citi Business News finds out how consumers will accept this development. The…