Category: Top Stories
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14.5% policy rate will slow down inflation, decelerate growth of economy – Economist
Economist with the University of Ghana, Dr. Adu Owusu Sarkodie says raising the policy rate by the Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) to 14.5% in November 2021, will help slow down inflation but is also likely to affect the economy’s growth rate as well. The rate had been maintained at…
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Ghana’s debt stock rises to GH¢341.8 billion, nearly 78% of GDP
An additional GH¢1.5 billion has pushed Ghana’s public debt stock to GH¢341.8 billion as of September 2021. Standing at GH¢340.3 billion in August this year, the new figure represents a marginal 0.44 percent increase in the country’s debt stock. On a year-to-year basis, the debt stock has seen a 24.7% increase compared to GH¢274.1 billion…
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Dr. Bawumia tasks Banks to develop specific E-cedi products to meet consumer tastes
Vice President Dr. Mahamudu Bawumia has tasked the banking community to be proactive in developing specific digital products for different types of customers with the introduction of the e-cedi. Speaking at the 25th National Banking Conference under the theme, “The Digital Economy of Ghana, the Strategic Role of the Banking Industry” Dr. Bawumia said, the…
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Rice Millers Association angry over exclusion from benchmark policy reversal
The Rice Millers Association of Ghana has expressed its disappointment over government’s failure to exclude rice from the recently reversed 50% benchmark value reduction policy The association had long advocated a reversal of the policy saying such a move will help in improving the fortunes of the local rice industry. According to the Rice Millers…
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Bank of Ghana raises Monetary Policy Rate to 14.5%
The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has increased the policy rate by 100 basis points to 14.5% percent. This is the first time the Central Bank has increased the key rate since May this year, after being maintained at 13.5% for two consecutive times. The rate, which is of keen…
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COPEC blasts government for silence on rising fuel prices in 2022 budget
The Chamber of Petroleum Consumers (COPEC) is disappointed that the government did not propose any policy in the 2022 budget to address the continuous hikes in fuel prices. This comes on the back of another increment in the price of fuel from GH¢6.90 to GH¢6.99 per litre. A drive-through town on Sunday to ascertain the…
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Government must address infrastructural concerns to boost domestic tourism – Hotels association
The Ghana Hotels Association says efforts must be made to address the infrastructure deficits across the country to chalk major successes with the government’s domestic tourism drive. According to the Association, poor road networks, and unstable phone connectivity among others in parts of the country discourage people from patronizing tourist attractions in such areas. President…
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Volta Fair 2021: Don’t look for money to start businesses, look for customers – Investment Banker to startups
Chief Executive Officer (CEO) of DCI Microfinance, Mr Selassie Woanya has urged young entrepreneurs not to concentrate on money but to focus on customers to enable their businesses to flourish. He said customers could assist business owners in enhancing the growth of their businesses and offer them opportunities. Mr Woanya, speaking at the Young Entrepreneurs…
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Volta Fair 2021: Senyo Hosi urges youth to consider venturing into agro processing
Chief Executive Officer of the Ghana Chamber of Bulk Oil Distributors Senyo Hosi has urged the youth of the Volta Region to consider investing in other parts of the agricultural value-chain instead of just focusing on traditional farming. According to the businessman, who is also the founder of an indigenous agric social business in the…
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Ghana’s urban population rises by 11.4% in 11 years
Data from the 2021 Population and Housing Census General Report has revealed that Ghana’s urban population has increased by 11.4 percent between 2010 and 2021. According to the report, Greater Accra, Ashanti, Eastern and Central regions had more than 50 percent of the country’s total population of 30.8 million. Urban population continues to grow, increasing…