Category: Top Stories
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TUC alarmed by rising fuel prices; demands suspension of taxes on petroleum products
The Trades Union Congress (TUC) has expressed worry over the frequent rise in the prices of petroleum products. The Union says the situation is having a huge toll on the general welfare of the populace and the business community. In a statement, the Union maintained that the unstable fuel prices have led to increases in…
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New MPR might aid in attracting investment for Ghana – Economist
Economist with Databank, Courage Boti, believes the revision in the monetary policy rate has the potential of attracting foreign investment into Ghana. This comes on the back of the recent increase in the policy rate by 250 basis points to 17 percent. According to him, this new development might mean more attractive interest rates for…
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Hike in policy rate will affect lending rates – Banking Consultant
The recent hike in the monetary policy rate by 250 basis points to 17% by the Monetary Policy Committee (MPC) of the Bank of Ghana (BoG), will inevitably lead to an upward adjustment in average lending rates to businesses and individuals. The Monetary Policy Rate, which is of keen interest to businesses, signals the rate…
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Increase in policy rate will make fixed income market more attractive – Economist
Following the recent hike in the policy rate, investors on the equity market are expected to re-adjust their portfolio holdings on the domestic stock market, to reap an increase from fixed income securities. This is according to Economist with Databank, Courage Martey. The Monetary Policy Committee of the Bank of Ghana, since November 2021, maintained…
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Gov’t can use platforms like ours to enhance property rate collection – Meqasa
Players in the online-real estate retail space believe their platforms can help the government’s ability to tax property owners. The government through the various Metropolitan, Municipal, and District Assemblies has over the years had a major challenge with efficiently collecting property taxes from various property owners across the country. This has had a negative effect…
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Tullow completes pre-emption of Deep Water Tano component of Kosmos Energy
Tullow Oil plc says it has completed the pre-emption related to the sale of Occidental Petroleum’s interests in the Jubilee and TEN fields in Ghana to Kosmos Energy. The cash consideration paid on completion was US$118 million, reflecting closing adjustments, and was funded from cash on the balance sheet. This transaction takes Tullow’s equity interests…
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Increase allocation to Planting for Food and Jobs in light of review of flagship programmes- GAWU
The General Agricultural Workers Union (GAWU) has called on government to consider increasing the budgetary allocation for the country’s agric sector, especially the Planting for Food and Jobs program in light of the current challenges threatening food availability and cost. The call by GAWU follows an announcement by the Minister of Information, Kojo Oppong Nkrumah,…
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Bank of Ghana increases policy rate to 17%
The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has increased the policy rate by 250 basis points to 17 percent. This is the first time the Central Bank has increased the key rate since November of last year. The rate, which is of keen interest to businesses, signals the rate at which…
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Gov’t, stakeholders to meet over possible fuel price cuts – Oppong Nkrumah
Fuel consumers in Ghana may soon experience some relief with regard to the skyrocketing prices of petroleum products as the government seeks to engage with various stakeholders on possible cuts in some margins and levies on the price build-up. Information Minister, Kojo Oppong Nkrumah, who made the announcement at the Citi Breakfast on Monday said…
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Akufo-Addo approves measures to ‘revive’ economy; Ofori-Atta to address Ghanaians
The Minister of Finance, Ken Ofori-Atta, will later this week brief Ghanaians on measures government seeks to implement to address current economic challenges. The Ministry of Information disclosed this in a statement issued on Monday, March 21, 2022. The Ministry indicated that Cabinet at its retreat at Peduase Lodge in Aburi earlier this month among…