Category: Top Stories
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Government is committed to stabilizing cedi – Ofori-Atta
Minister for Finance, Ken Ofori-Atta has assured that government remains committed to implementing measures to address the perennial depreciation of the Ghana cedi against its major trading partners. The Minister gave the assurance when he responded to a question posed to him in Parliament by the Member of Parliament (MP) for Bongo Constituency, Edward Abambire…
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Producer Price Inflation rises again to hit 33.5% in May 2022
Producer price inflation, the average price of goods and services received by domestic producers for their production activities, for the month of May, has risen to 33.5 percent. This rate represents a 2.1 percentage point increase in producer inflation relative to the 31.4 percent recorded in April 2022, and a 21.7 percentage point increase relative…
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GH¢18.19bn mobilised for Covid-19 fight; GH¢12bn was utilised – Ofori-Atta
The government mobilised a total of GH¢18.19 billion to mitigate the impact of the Covid-19 pandemic in the country for 2020 and 2021. Government ended up spending GH¢12 billion out of the total figure generated within the period in question. This was disclosed by the Minister of Finance, Ken Ofori-Atta, when he delivered a statement…
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5 things to note in the changing scene of West Africa’s consumer markets
The Citi Business Festival on-air series featured Lampe Omoyele, the CEO of Nitro 121, who spoke on “The Changing Scene of West Africa’s Consumer Markets”. Here are five things to note from his presentation. Brands must leverage digital communication Lampe Omoyele described digital communication as a key to maintaining quality. “You have digital marketing as…
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Absa Bank’s Chief Economist to speak on global economy at Cedi summit
The Head of Research and Chief Economist at Absa Bank, Jeff Gable, is billed to speak at the Citi Business Festival’s Cedi Summit slated for June 27, 2022. Mr. Gable will speak on the topic – “The Global Economy: Challenges & Prospects” at the economic summit being organised by Citi TV/Citi FM. He will join…
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Ghana Card: NIA pledges to clear backlog before banking transactions deadline
In less than two weeks, banks and financial institutions will require just the Ghana card as the sole identification document to allow for financial transactions to be made. But until now, over 300,000 Ghanaians are unable to access their Ghana cards from the National Identification Authority (NIA) months and years after applying for them. The…
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“African Risk Premium” makes borrowing expensive for Africa – Akufo-Addo laments
As Ghana continues to be locked out of the international capital market, due to its high debt-to-GDP ratio as well as its poor credit ratings among others, President Akufo-Addo is calling for a scrapping of the “African risk premium” calculated into loans given to African countries. According to him, the phenomenon only makes the cost…
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#CitiBusinessFestival: Five key insights from forum on Ghana’s trade competitiveness
The Citi Business Festival’s forum on surviving the uncertainties of consumer markets discussed ways of surviving uncertainties of consumer markets following the COVID-19 pandemic. The forum featured Theresa Yamson, the CEO of Phyto-Riker; Robert Ahomka-Lindsay, former Deputy Minister of Trade and Industry; Michael Kottoh CEO of Konfidants, Charles Addo, the Retail Banking Director at Absa…
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Industrialization is Ghana’s only way of withstanding market volatilities – Ahomka-Lindsay
A former Deputy Minister for Trade and Industry, Robert Ahomka-Lindsay says Ghana must take seriously its industrialisation drive to ensure that its economy is able to withstand volatilities on the international market. According to him, the current structure of the country’s economy overly exposes it to changes in western markets and makes it vulnerable. Speaking…
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#CitiBusinessFestival: Garment industry needs financial support to thrive – Cyndex CEO
A major factor hindering the garment industry from thriving is the lack of access to financial support, Chief Executive Officer of Cyndex Garment Manufacturers, Cynthia Baffour has said. At the Citi Business Festival’s forum on Citi TV, Ms. Baffour emphasized the need for the garment industry to be financially supported to run its operations. She posited…