Category: Top Stories
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GRA launches new non-resident registration portal to mobilize GHC 1.7 billion
The Ghana Revenue Authority (GRA) has launched a non-resident E-commerce and Digital Service Registration Portal, which it says will help it collect about GH¢1.7 billion in revenue from online businesses like Netflix, Jumia, Alibaba, and Amazon among others. The operation of the portal is expected to commence from 1st April 2022. The launch of the…
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![Traders blame increased food prices on rising cost of fuel, others [Video]](https://citibusinessnews.com/wp-content/uploads/2022/03/yam-in-the-market.png)
Traders blame increased food prices on rising cost of fuel, others [Video]
For weeks now, several economists and stakeholders have predicted that prices of fuel and food will continue to rise following tensions between Ukraine and Russia and the cedi’s depreciation against the dollar. The prices of some key commodities have been on the rise, and the cost of food and fuel has increased astronomically. With fuel,…
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Economist charges gov’t to boost domestic food production to check rising inflation
Economist with Databank, Courage Martey, is asking government to put in measures, to boost domestic food production to bring the cost of food down in order to check the rising inflation rate in the country. Food inflation was one of the main influencers for the recent rise in inflation in the country. The rate for…
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We’ve accounted for $1.3bn cocoa syndicated loan; ignore contrary claims – COCOBOD
The Ghana Cocoa Board (COCOBOD) has denied claims that it is unable to account for the $1.3 billion cocoa syndicated loan for the 2020/2021 crop season. The Member of Parliament for Juaboso, Kwabena Mintah Akandoh, on Thursday asserted that COCOBOD has failed to give a tangible explanation about the whereabouts of the fund, which was…
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MTN Ghana still readying itself to pilot 5G later this year – CEO
MTN Ghana’s CEO Selorm Adavevoh is optimistic that his outfit will be able to launch 5G services soon. Demand for data has seen astronomical growth in recent times, and this indicates that current internet infrastructure will soon be outstripped by demand. This situation thus requires significant investment to expand data infrastructure, and telecommunications giant; MTN…
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IES predicts fuel shortage as cedi depreciates further and oil prices soar
The Institute of Energy Security (IES), has indicated that the country could experience a fuel shortage in the coming days. Speaking on the Point Blank segment of Eyewitness News, the Executive Director of IES, Nana Amoasi VII, said the shortage will be influenced by the depreciation of the cedi and the increase in oil prices…
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Food, fuel prices push inflation rate to 15.7% in February 2022
Ghana’s inflation rate has once again risen to hit 15.7 percent in February 2022. This represents a 1.8 percent jump in the inflation rate compared to the 13.9 percent recorded in the first month of this year. The current rate is the highest recorded since the rebasing of the CPI and inflation in August 2019.…
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Stay away from ‘Freedom coin’ cryptocurrency – BoG warns public
The Bank of Ghana (BoG) has warned the public about an impending launch of a cryptocurrency named “Freedom Coin” in Ghana. According to a statement from the Central Bank, the cryptocurrency and its promoting company do not have any”approval from the Bank of Ghana to operate in the banking and payment sector”. The Bank reiterated…
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Ghana may not need the IMF if authorities take needed fiscal measures – Pierre Laporte
The World Bank Country Director for Ghana, Liberia, and Sierra Leone, Mr. Pierre Laporte, says Ghana stands to benefit from going to the International Monetary Fund (IMF) if the country plans on going on an aggressive debt rescheduling program. President Nana Akufo-Addo and the Minister of Finance Ken Ofori-Atta, have on multiple occasions shot down…
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Business community call on gov’t to peg cedi exchange rate against dollar
A section of the business community has asked the government to, with immediate effect, peg the cedi at a fixed exchange rate against the dollar. This they say has become necessary following the recent depreciation of the cedi against the dollar. Prices of goods and services have in the past weeks witnessed significant increases due…