Category: Top Stories
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Utility tariff adjustment must favour industries, sustain business growth – GNCCI
As the Public Utilities Regulatory Commission (PURC) engages stakeholders on electricity tariff adjustment in the face of current economic challenges, the Ghana National Chamber of Commerce and Industry (GNCCI) says any adjustment must favour industries. According to the GNCCI, further increases, particularly in energy cost, will be detrimental to the private sector. The GNCCI notes…
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Continuous increase in food, transport prices push April inflation to 23.6%
The continuous increase in food and transport prices across the country has pushed the national year-on-year inflation for April 2022 to 23.6 percent. This was captured in the Consumer Price Index (CPI) data released by the Ghana Statistical Service. The rate is 4.2 percentage points higher than the 19.4% recorded in March 2022. The rise…
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Gov’t to launch national airline to benefit from AfCFTA – Hassan Tampuli
Since 2017, government has made clear its intentions to establish a national carrier following the collapse of Ghana Airways and Ghana international Airline. The government believes this will not only build the aviation sector in the country, but create opportunities for Ghana to benefit from the Africa Continental Free Trade Area. Outlining several works being…
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Telcos pledge ‘handsome reward’ for information on persons stealing cell site equipment
Ghana’s Mobile Industry is offering a very handsome reward to anyone with information that may lead to the arrest of culprits responsible for the recurrent telecommunication equipment thefts at cell sites throughout the country. Additional amounts would be given to whistle-blowers when the culprit is prosecuted and jailed. The telecommunications industry has been experiencing theft…
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CUTS International justifies calls for review of utility tariffs
Think tank, Consumer Unity and Trust Society (CUTS) International, has backed the push for a review of utility tariffs by the Electricity Company of Ghana and the Ghana Water Company Limited. The Think Tank, however, maintains that there is the need to speedily address the inefficiencies within the system to make the companies sustainable. CUTS…
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BoG reiterates calls for public to report unapproved banking charges
The Bank of Ghana is tasking customers to report to the Central Bank any suspicious or unapproved charges from their financial institutions. In June 2021, the Bank of Ghana warned commercial banks and specialised deposit-taking institutions (SDIs) in Ghana to abolish unfair charges in the banking sector. In a statement, the Bank of Ghana noted…
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ECG proposes 148% increase in electricity tariff for 2022
The Electricity Company of Ghana wants tariffs to be increased by 148% for 2022 and with 7.6% average adjustments between the periods of 2023 to 2026. The sharp proposed increment, according to ECG, is due to the gap between the actual cost recovery tariff and PURC-approved tariffs as well as the cost of completed projects.…
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Association of Ghana Industries pushes for discounts on imports of raw materials
The Association of Ghana Industries (AGI) is pushing for a special discount on imports of raw materials to make producers more competitive in the country. According to the Association, the move is aimed at helping government build a strong manufacturing sector and aid manufacturers thrive under the African Continental Free Trade Area. The Chief Executive…
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Faulty equipment caused widespread blackouts – GRIDCo
The Ghana Grid Company has explained that the May 7 power outages in parts of the country were a result of a system disturbance caused by faulty equipment on the Takoradi Extension–Winneba line. In a statement, it said this caused all generating plants in Aboadze, Bui and Kpong to shut down. Plants in Tema were…
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State loses GHC9bn due to reduction in benchmark values – GRA
The Ghana Revenue Authority, GRA, has revealed that government, in the last three years, has lost nearly GHC9 billion in revenue from taxes generated on imported goods as a result of the implementation of the reduction in the benchmark values policy. The amount was lost between April 2019, when the implementation of the policy was…