Category: Top Stories
-
Poultry farmers call on government to revive local industry
The Greater Accra Poultry Farmers Association is calling on government to take immediate and drastic measures to revive the once vibrant industry. The call comes on the back of reports by the importers and exporters association that government has scrapped the 30% benchmark value reduction policy. On numerous occasions, players in the country’s poultry industry…
-
Sacking Ofori-Atta not enough; size of gov’t must also be reduced – Bokpin
A lecturer of economics at the University of Ghana Business School, Prof. Godfred A. Bokpin has stressed that the demand for the removal of the Finance Minister, Ken Ofori-Atta isn’t enough to turn around the country’s economic woes. Some Members of the Majority Caucus in Parliament have joined in the demand calling for his head…
-
Construction Chamber joins calls for the removal of Finance Minister
There have been recent calls for the removal of the Finance Minister, Ken Ofori Atta from office and the Ghana Chamber of Construction Industry believes his sacking has been long overdue. Chief Executive Officer of the Ghana Chamber of Construction Industry, Emmanuel Cherry, believes the top job must be handed to a more competent person.…
-
$1.13bn Cocoa Syndicated Loan: First tranche expected to hit BoG account today
The first tranche of the $1.13 billion cocoa syndicated loan is expected to hit the account of the Bank of Ghana today, October 26, 2022. Sources indicate that about $790 million is expected to come in from the consortium of banks. The $790m forex to be received by the BoG, is expected to bolster the…
-
Ghana Mine Workers Union calls for increased local participation in sector
As the country’s economy continues to struggle and the cedi rapidly depreciates now might be the time to consider active local participation in the country’s extractive sector. The Ghana mine workers union believes this is critical to checking the repatriation of funds from the country abroad which have contributed to the dire state of the…
-
GUTA calls for scrapping of benchmark value system
The Ghana Union of Traders Associations (GUTA) is calling for a scrapping of the Benchmark Value system. GUTA argues that now might be the right time to review the benchmark valuation method arguing that it was contrary to the World Trade Organization’s valuations system. This follows reports by GUTA that the Ghana Revenue Authority plans…
-
Cabinet, EMT, banks and forex bureaus to meet over depreciating cedi – Oppong Nkrumah
Government has announced plans it says will help end the continuous depreciation of the Ghana cedi. Information Minister, Kojo Oppong Nkrumah says the Governor of the Central Bank, Dr. Ernest Addison will today, October 25, 2022, meet all CEOs of commercial banks and forex bureaus to address the issue. The cedi is currently selling at…
-
Game Shopping Center at Accra Mall to close down by December
Multinational retail shop, Game will close down its Accra Mall branch by December this year. This is because Massmart Holdings, owners of the enterprise, are in talks to shut down operations in some African countries. This development follows an earlier announcement by Mass mart to close eight unviable shops in Africa. According to Citi News…
-
Government must begin pegging of port exchange rate right away- GUTA
The Ghana Union of Traders Associations (GUTA) has indicated that it expects the government to, as soon as possible, begin the implementation of its proposed measures to check the constant hike in port duties in the country. GUTA President Dr. Joseph Obeng stated that it was ‘very welcoming … for which we are very grateful.’…
-
Micro Credit Association demand policies to control inflation and cedi fall in budget
Members of the Micro Credit Association of Ghana are calling on the Finance Minister, Ken Ofori Atta to introduce policies aimed at controlling inflation and stabilizing the cedi in the upcoming budget presentation. The economy has been hard hit with the effects of the depreciating cedi and the rise in inflation which is currently at…