Category: Top Stories
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PPI for March 2021 rises to 13%; highest in last 12 months
The average price of goods and services received by domestic producers in the country for their production activities, in the month of March went up by 13 percent, compared with the prices received by the producers in March last year. This rate represents a 2.7 percentage point increase in producer inflation relative to the rate…
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Ghana’s productive capacity poor, compared to other AfCFTA countries – Konfidants
Research and advisory firm Konfidants, has revealed in its latest report titled, Ghana’s Competitive Potential in the AfCFTA: A Country Competitiveness and Opportunity Assessment, that when it comes to productive capacity in the manufacturing sector, Ghana lags behind the 11 frontier economies (Morocco, Kenya, Egypt, Côte d’Ivoire, Zambia, South Africa, Senegal, Tunisia, Nigeria, Cameroon, and…
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Struggling industry slowed Ghana’s economic growth rate in 2020 – GSS
Provisional figures released by the Ghana Statistical Service show that Ghana’s economy grew by 0.4% in the year 2020. The figure which was released by the Government Statistician, Professor Samuel Kobina Annim as part of a lecture at the University of Cape Coast, represents a slower growth rate than what was projected by the International…
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Bankers Association highlights need for citizens to reactivate dormant accounts
The Ghana Association of Bankers has intensified calls by the Bank of Ghana (BoG) to all persons with dormant accounts to reactivate their accounts. BoG, last month, issued a directive on unclaimed balances and dormant accounts for banks and specialized deposit-taking institutions. The directive sought to ensure that balances in accounts that have been left…
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Don’t lend to government at the expense of private sector – Banks urged
Stakeholders at the launch of a report assessing Ghana’s competitiveness and available opportunities for the country under the African Continental Free Trade Area (AfCFTA) have blamed the continued lending by some banks to government as well as the high treasury bill rates, for the low level of credit advanced by financial institutions to the private…
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AfCFTA: Reduce cost of power, address credit challenges to boost Ghana’s competitiveness – Konfidants
International advisory firm, Konfidants has urged government to devise strategies to strengthen the country’s existing trade relations on the African continent to take maximum advantage of the African Continental Free Trade Area (AfCFTA). Konfidants also advised government to among other things address the exorbitant cost of credit and power in order to prepare the country…
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Businesses charged to embrace digitization to stay relevant
The inability of businesses to incorporate digitization in their business models will create a void with dire consequences for their survivability post-COVID-19. This is according to the First Deputy Governor of the Bank of Ghana, Dr. Maxwell Opoku Afari. According to him, in spite of the achievements introduced by government towards building a financially inclusive…
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Building Contractors Association wages war against unregistered foreign contractors
The leadership of the building Contractors Association is up in arms against foreign contractors that fail to register with any association in Ghana and blatantly disregard the rules of engagement. According to the leadership, many foreign contractors come into the country and are aided to win contracts without going through the mandatory registration process. Such…
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New taxes will push a litre of petrol/diesel to GHS6 soon – COPEC
The implementation of some of the new tax policies introduced in the 2021 budget statement from 1st May is likely to contribute to fuel prices rising to GHS6 per litre in the near future. That’s according to the Chamber of Petroleum Consumers (COPEC). Of the new taxes that will be implemented from the beginning of…
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Ghana’s fight for cocoa farmers backfires as EU hints of ban
Chief Executive officer of COCOBOD, Joseph Boahen Aidoo has called out the European Union, accusing it of double standards in its assessment of Ghana’s cocoa sector in recent times. The European Union has threatened to ban cocoa from Ghana if the negative impact of illegal mining on the country’s environment persists. Belgium which is a…