Category: Top Stories
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Global factors responsible for 80% of Ghana’s current inflation rate – Head of BoG Research
As Ghanaians continue to deal with consistent increases in the cost of the goods and services they consume, which have seen the country’s inflation rate rise consistently for 12 straight months, reaching 27.6% in May this year, leadership of the Bank of Ghana says 80 % of the current rate can be attributed to global…
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Prof. Peter Quartey, Ofosu-Dorte and Jeff Gable to speak at Citi TV’s Cedi Summit
The Citi Business Festival’s Cedi Summit has lined up three speakers of repute in the world of banking, economics and law. The June 27 event at the Alisa Hotel will be headlined by Jeff Gable, the Head of Research and Chief Economist at ABSA; Prof. Peter Quartey, the Director of the Institute of Statistical Social…
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Lawyer pushes for prosecution at BoG over management of cedi
A lawyer, Dr. John Baiden, is pushing for the Attorney General to cause prosecutions at the Bank of Ghana (BoG) over the perceived mismanagement of the Ghana cedi, which continues to lose value against the dollar. He has petitioned the Attorney General and said, “the Bank of Ghana has compromised the Ghana Cedi. It is…
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Citi FM/Citi TV launch ‘This is Ghana Exhibition’; slated for August 27-28
Citi FM and Citi TV have launched Ghana’s biggest trade fair and exhibition to enable Small and Medium Enterprises (SMEs) to showcase indigenous products and services. The program dubbed; ‘This is Ghana Exhibition’ will create space for the promotion of Ghanaian products and services to boost the “Made in Ghana” agenda. The two-day expo is expected to attract…
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Zeepay MD predicts 16% growth in remittances as economic activities bounce back
Following the International Day of Family Remittances which was recognized on Thursday, June 16th, industry players are optimistic about a higher percentage increase in remittances for Ghana this year following a rebound in economic activities on the global market. Global remittances, the hard-earned money sent by migrant workers to their family members in low and…
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Gulf central banks, Bank of England raise policy rates after Fed hike
The central banks of five Persian Gulf states raised policy rates on June 15 following the Federal Reserve’s 75 basis point hike the same day. The central banks of the United Arab Emirates, Qatar and Bahrain made 75bp increases to their reference rates. This brings the UAE’s rate to 3%, Qatar’s to 2.25% and Bahrain’s…
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Ghana’s economy not doing badly but can be better – Absa Bank’s Jacob Brobbey
The acting Head of Markets of Absa Bank, Jacob Brobbey, says Ghana can do more to strengthen its economy and make it more attractive to investors. He said Ghana’s economy is doing well compared to other countries on the continent, especially amidst major challenges such as COVID-19 that hit the country in 2020. According to…
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GOIL’s profit after tax rises by 9% to hit GH¢ 98.7 million in 2021
Leading Oil Marketing Company GOIL has recorded significant growth in key areas of the company’s operations such as its profit after tax, total assets and volume of fuel sold in 2021. This was revealed at GOIL’s 53rd Annual General Meeting held in Accra. The 53rd Annual General Meeting of GOIL which was held on the…
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#CitiBusinessFestival: Many Ghanaian businesses not Africa-focused – Ofosu-Dorte
A senior partner at AB & David, David Ofosu-Dorte, says many Ghanaian businesses have limited their focus to operating only in Ghana unlike their counterparts in other parts of the continent. He said comparatively, Ghana ranks low in Africa on the number of its businesses that have penetrated other African markets. Speaking on the on-air…
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Seth Terkper cautions government against defaulting on debt repayment
Former Finance Minister, Seth Terkper has warned that the worst thing that could happen to Ghana at this point as the economy strives to rebound will be to default on debt repayments. The remarks were made as part of a dialogue on the state of the Ghanaian economy hosted by the former Finance Minister, on…