Category: Top Stories
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Recent downgrades by S&P, Fitch ratings on Ghana unfair – African Peer Review Mechanism
The African Peer Review Mechanism (APRM) has condemned the recent downgrade of Ghana’s economy by ratings agency S&P and Fitch, saying, the unjustified negative rating actions in Africa since the beginning of 2022 is unwarranted and contrasting the continent’s economic recovery efforts from the devastating impact of the Covid-19 pandemic. According to the APRM, this…
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Stakeholders urge focus on private sector to drive energy transition
For Ghana to attain its renewable energy target by 2030, the private sector’s role is critical. Government has over the years, been unable to attain its renewable energy target, revising it from 2020 to 2030 due to the failure to implement policies toward achieving the goal. Presently, renewable energy is just one per cent of…
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Cedi Depreciation: Government urged to enforce laws on pricing in dollars
The Executive Director of Danquah Institute, Dr. Antoinette Tsiboe Darko is calling on the appropriate authorities to speedily put in place measures to reduce the dollarisation in the economy. According to her, the pricing of goods and services in dollars is a structural defect which has worsen the economic challenges confronting the country. She compares…
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Gov’t must invest more resources into agriculture sector – Agribusiness Chamber
A Value Chain Development Specialist and Director of Policy and Research Bureau, Chamber of Agribusiness Ghana, Kojo Ahiakpa, has called on the government to explore the by-products of natural gas in the manufacture of fertilizers. Speaking to Citi Business News, he suggests that to avert the looming possibility of price hikes in fertilizers in the…
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E-cedi will not affect MoMo business – Bank of Ghana
The Bank of Ghana has assured that its quest to implement the digital currency, also known as the e-cedi, will not disrupt or collapse the mobile money (MoMo) system. According to the regulator, the implementation will rather be a positive one in the MoMo value chain. Speaking at the MTN Momo Stakeholder Forum organised which…
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Farmers worried about possible unfair distribution of MoFA machines
Some farmers have expressed worry over the last tranche of US$95 million machinery received by the Ministry of Food and Agriculture to boost farming productivity. The Ministry on Wednesday commissioned farm processing machines worth $95 million in a bid to boost the efficiency of large-scale farming in the country. The over 2,000 pieces of machines…
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Bank of Ghana to widen its scope on cryptocurrency
The Bank of Ghana has assured stakeholders of its preparedness to sanitize the digital space with respect to cryptocurrency. The Central Bank admits that in the initial stages of the new digital currency, there was a gap, however, the regulator has braced itself to make it cleaner while building public interest. Speaking at the MTN…
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Importers, Exporters Association calls for sympathy for Labianca following corruption claims
The Importers and Exporters Association has jumped to the defence of Labianca Company Limited after it was implicated in corruption-related activities. In a statement, it called for the criticism of Labianca to be measured because of its contribution to the economy. “Even though we do not condone any act of unhealthy business transactions by any…
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Our cars to sell for cheaper soon- locally assembled automobile companies
Locally assembled automobile companies in Ghana are optimistic about a significant drop in the price of their vehicles soon. This is based on the government’s Ghana Automotive Development Programme which would give such businesses tax breaks of up to 10 years. A Brand Manager at Silver Star Auto, Delali Greenstock, whose outfit is collaborating with…
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Ghana’s inflation rate rises again; hits 31.7% in July 2022
Significant increases in prices of transport and food pushed Ghana’s inflation rate to hit 31.7 percent in the month of July 2022. This represents a 1.9 percentage point increase over the 29.8 percent rate recorded in June 2022. On a monthly basis, inflation between June 2022 and July 2022 was 3.1%. This was captured in…