Category: Top Stories
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IEA suggests hybrid approach in tackling rising inflation rate
The Institute of Economic Affairs (IEA) is asking the government to take overall responsibility in checking the rise in the country’s inflation rate, as it suggests the use of a hybrid approach to deal with the situation over the long term. This approach, according to the Institute, is a combination of the inflation targeting approach,…
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IMF team concludes visit to Ghana
After a week of intense negotiations with the Government of Ghana, officials of the International Monetary Fund, IMF, have concluded their visit to Ghana. The visit which formed part of the first stage of negotiations with government, was part of efforts to assess the current economic situation and discuss the broad lines of the government’s…
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Ghana’s inflation rate soars again; hits 29.8% in June 2022
Ghana’s inflation rate soared again to hit 29.8 percent in the month of June, a 2.2 percentage point increase compared to the 27.6 percent recorded in May. This comes as many stakeholders continue to mount pressure on the government and the Bank of Ghana to quickly institute measures to check the continuous rise in the…
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Stakeholders call for increased transparency in how E-Levy funds are used
The Chief Executive Officer of the Ghana Chamber of Telecommunications, Dr. Ing. Kenneth Ashigbey, has backed calls for transparency in the manner in which funds accrued from the Electronic Transfer Levy (E-Levy) are used. One of the sources the government was hoping would help it raise much-needed revenue is the E-Levy, but information from government’s…
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COCOBOD laments deforestation in cocoa sector
Deforestation is a major issue in Côte d’Ivoire and Ghana, which together produce nearly two-thirds of the world’s supply of cocoa. Côte d’Ivoire and Ghana respectively lost 25% and 8% of their primary forest between 2002 and 2019, with a significant portion of deforestation due to cocoa farming. The Ghana Cocoa Board has described this…
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Delay in paying contractors worsening govt’s debt position – Construction Chamber
The government’s consistent delay in the payment of contractors is further worsening its debt position. This is according to the Ghana Chamber of Construction industry, which stressed that the government’s non-payment continues to attract penalties which balloon the amount owed them. CEO of the Chamber, Emmanuel Cherry stated that “if a contract is being given…
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Oil & Gas Service providers call for enforcement of regular fuel storage tank cleaning rule
To ensure the quality of petroleum products sold at the pumps is not compromised, players in the oil and gas services sector are demanding the strict enforcement of standards and protocols across the value chain. The National Petroleum Authority was established by law to regulate the petroleum downstream industry in Ghana and Benjamin Armstrong, the…
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Failure of foreign countries to pay LIDs on cocoa beans disheartening – COCOBOD CEO
Ghana and Ivory Coast’s move to combat farmer poverty with a living income premium for their cocoa sales is being undermined by chocolate makers scaling down purchases and negotiating discounts on other parts of the prices. This, the Ghana Cocoa Board, says is disheartening and must be checked with all urgency. The premium is being…
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Use Mid-Year budget review to reduce E-Levy rate – Prof. Quartey
Ahead of the presentation of the 2022 mid-year budget review, the Institute of Statistical, Social and Economic Research (ISSER), is calling for a reduction in the current charge rate of the Electronic Transfer Levy (E-Levy). The presentation of the Mid-Year budget review by the Minister of Finance Ken Ofori-Atta, which is expected to come off…
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GACL Board Embarks On Working Visit To Regional Airports
The newly appointed Board of Directors of Ghana Airports Company Limited (GACL) have paid working visits to Kumasi, Tamale, Sunyani, and Wa airports. The visit afforded members the opportunity to acquaint themselves with developments at the regional airports and inspect ongoing projects. Tamale Airport The Board visited Tamale Airport to inspect ongoing expansion works, expected…