Category: Top Stories
-
Continuous hikes in food prices push inflation for October to hit 40.4%
Continuous increases in prices of food, housing, transport, water, electricity and other fuels have pushed Ghana’s inflation rate to hit 40.4 percent for the month of October 2022. This represents a 3.2 percentage point increase over the 37.2 percent recorded in September 2022. This was captured in the Consumer Price Index (CPI) data released by…
-
Incorporating ESG principles in your operational framework, key to future of banking – BoG to banks
The Bank of Ghana has highlighted the importance of Environmental, Social and Governance, ESG, issues and the need for banks to have processes in place to assess the impact on their businesses. This, the Central Bank notes will help financial institutions to survive the current disruptive challenges facing the banking sector and the economy as…
-
Ghana Standards Authority to help cut down on importation
Ghana will in the short term review the standards and requirements used for the importation of goods into the country. This according to the Ghana Standards Authority is crucial to cut down on the number of goods imported into the country even as the country takes steps to scale up manufacturing and production. Ghana’s imports…
-
Import licenses will increase cost of trade unnecessarily – Asaki Awingobit
The Importers and Exporters Association of Ghana says the introduction of an import license policy will only add to the bureaucracy and cost of doing business in Ghana. Their concern follows calls by the Private Enterprise Federation (PEF) that such a policy is needed to regulate the imports that come into the country. According to…
-
Ride hailing app drivers call for fares to correspond with fuel price hikes
The Online Drivers Union is calling for an increase in their fares commensurate with the increment in fuel prices. Speaking to Citi Business News, the President of the Online Drivers Union, Francis Tenge believes their demand is critical to sustaining their livelihoods. “What we want is there should be a corresponding increment in the base…
-
Manufacturers call on government to actively purchase made in Ghana goods
To grow the local economy and industry the government must lead the way by ensuring it prioritizes sourcing from local businesses and institutes policies to check foreign competition for such entities. Players in the manufacturing sector believe these parameters are critical amidst the present economic turmoil and will improve the country’s fortunes. Elisabeth Owusu Gyebi…
-
39 new free zones companies to inject $230m into economy
The Ghana Free Zones Authority has revealed that it expects about US$230 million to be injected into the economy from thirty nine newly licensed companies by the Authority. The thirty-nine new free zones companies which were licenced to operate within the last year and a half are also expected to bring in about US$529 million…
-
Defunct BEIGE Bank’s CEO hit with new charges of theft, money laundering
Michael Nyinaku, the founder of the defunct BEIGE Bank, is facing new charges of theft and money laundering. Before these new charges, he was already arraigned and accused of stealing over GH¢340 million at a circuit court. According to the facts of this new case at the High Court, when Beige Bank’s license was revoked…
-
BoG, MAS, DBG partner to develop financial ecosystem for Asia-Africa SME trade
Ghana’s Micro, small and medium enterprises (MSMEs) sector is set to see a major boost as the Monetary Authority of Singapore (MAS), Bank of Ghana (BOG) and Development Bank Ghana (DBG) have signed a Memorandum of Understanding (MOU) to develop the Ghana Integrated Financial Ecosystem (GIFE). The Ecosystem aims to enhance financial capabilities and access…
-
Revive TOR to provide reliable and affordable fuel – IES to Prez Akufo-Addo
The Institute for Energy Security, IES, has reiterated the need for government to do all it can to ensure the Tema Oil Refinery is revived, in the wake of hikes in prices of fuel at pump stations. The call by the Institute comes on the back of a recent announcement by President Akufo-Addo that steps…