Category: Top Stories
-
GDP growth rate increases to 5.4% in 2021; exceeds 5.1% budget target
Provisional figures released by the Ghana Statistical Service show that Ghana’s economy grew by 5.4% in 2021. The figure which was released by the Government Statistician shows that the growth rate of the economy exceeded the 2021 Gross Domestic Product (GDP) growth rate of 5.1 percent captured in the 2021 mid-year budget. Ghana’s economy grew…
-
World Bank urges Ghana to implement policies that attract private investment
The World Bank Group has called on government to prioritize policies that attract investments from citizens and foreigners. According to the Bretton Woods institution such an approach is critical especially as countries like Ghana strive to return to a path of sustained economic growth. Ghana like many other developing countries is dealing with the impact…
-
Opoku-Ahweneeh Danquah takes over as GNPC CEO from Dr. K.K Sarpong
The Deputy Chief Executive Officer at the Ghana National Petroleum Corporation (GNPC), in charge of Technical Operations, Opoku-Ahweneeh Danquah, has taken over from Dr. Kofi Koduah Sarpong as the new chief executive officer of the company. Dr. K.K Sarpong, is expected to step down as the chief executive officer of the company later this week…
-
Manufacturing sub-sector pushes PPI for March 2022 to 29.3% from 21.4%
The year-on-year producer price inflation for March 2022 has risen to 29.3 percent, according to data from the Ghana Statistical Service. This rate represents a 7.9 percentage point increase in the average price of goods and services received by domestic producers in the country for their production activities relative to the 21.4 percent recorded in…
-
Prof. Ebo Turkson appointed to BoG’s Monetary Policy Committee
The Bank of Ghana has appointed Professor Festus Ebo Turkson, as an external member of the Bank of Ghana Monetary Policy Committee (MPC). Professor Turkson replaces Dr. John K. Kwakye who retired as an External Member of the MPC having served the statutory term limit A statement issued by the Central Bank notes that his…
-
EIU’s prediction on local currency is over-ambitious – Economist
Economist with Databank, Courage Boti has described the projection made by the Economist Intelligence Unit (EIU) on the local currency as somewhat over-ambitious, given the current economic conditions and the instability of the Ghana cedi in recent times. In its latest assessment of the Ghanaian economy, the London-based organisation projected a further weakening of the…
-
Stakeholders urged to ramp up education on E-levy ahead of 1st May start date
With about 10 days to go, to the highly anticipated implementation of the Electronic transfer Levy (E-Levy) by the Ghana Revenue Authority, the Ghana Chamber of Telecommunications, is calling for a ramping up of education by the various stakeholders on the project to ensure the public is adequately informed. The levy of 1.5 % on…
-
Local currency to hit GHS7.87 against the dollar by end of 2022 – EIU Report
London-based economic and political analysis firm, the Economist Intelligence Unit (EIU), has predicted that the Ghana cedi will hit GH¢7.87 to $1 by the end of this year. This comes months after the cedi experienced some depreciation against the dollar in the first quarter of the year 2022. Already, data from the Central Bank shows…
-
Registrar General’s Department to increase penalty for late filing of annual returns
The penalty for late filing of annual returns for companies will be increased from GH¢450.00 to GH¢500 effective 30th June 2022. This is according to the Registrar General, Jemima Oware. This increment would apply to all company entities, namely Public/Private Companies Limited by shares, public/private companies limited by guarantee (Churches, Schools, Unions, Associations, Clubs etc.)…
-
Economist predicts further hikes in inflation rate
Economist, Dr. Patrick Asuming, is forecasting higher inflation rates in the country in the coming months before it takes a downward turn. According to him, this is due to current market developments. National inflation has hit 19.4% in March 2022, the highest since 2009. The rate is 3.7 percentage points higher than the 15.7 percent…