Category: Top Stories
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Ghana in technical recession after latest economic contraction – Economist
Economist with Databank, Courage Martey says Ghana has entered into a technical recession following a contraction of the economy for a second straight quarter in 2020. Latest provisional figures released by the Ghana Statistical Service show that the Ghanaian economy has contracted for the second straight quarter, with the value of goods and services produced…
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PPI for November 2020 increased slightly to 8.8% – Statistical Service
New figures released by the Ghana Statistical Service (GSS), indicate that the Producer Price Inflation rate for November 2020 was 8.8 percent. This rate indicates that between November 2019 and November 2020 (year-on-year), the PPI increased by 8.8 percent. It also represents a 0.4 percentage point increase in producer inflation relative to the rate recorded…
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Struggling industry forces Ghana’s economy to contract for 2nd straight quarter
Provisional figures released by the Ghana Statistical Service show that the Ghanaian economy has contracted for the second straight quarter, with the value of goods and services produced in the 3rd quarter of 2020 declining by 1.1 percent when compared to the value of goods produced in the same period in 2019. The contraction in…
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Privatise TOR if you can’t manage it – Energy consultant to government
Energy Consultant, Dr Yussif Sulemana, says government ought to consider privatizing the Tema Oil Refinery (TOR) in order to keep the entity operational. But Dr. Sulemana says, for such an entity that can play a major role in ensuring the country is energy efficiency, all options must be considered to make it fully functional. He…
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Ghana Commodity Exchange lists rice on its trading platform
The Ghana Commodity Exchange (GCX) has added rice contracts to the number of commodities traded on its electronic trading platform. This move brings to five, the number of commodities listed by the GCX. Already, maize, soya bean, sorghum and sesame contracts for trade are already making grounds on the trading floor. Rice has over the…
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Fiscal deficit compression key to reducing growing debt stock – Economist
Government will have to focus its attention on fiscal deficit compression in the new year in order to bring the country’s debt level under control. This is the assertion of an economist with Databank, Courage Martey. Ghana’s total public debt stock rose by GHS54.8 billion in the first nine months of this year, hitting GHS273.8…
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Ken Ashigbey hopeful of approval of Cyber Security Bill to check fibre cuts
The Chief Executive Officer of the Ghana Chamber of Telecommunications, Ken Ashigbey, has asked President Nana Akufo-Addo to assent the Cyber Security Bill which will give the telecoms industry the authority to sanction persons or groups who damage telecommunication infrastructure. According to him, this will help address the issue of fibre cuts which end up…
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Odawna Market fire: Traders lament delays in sharing of compensation
Some traders at the Odawna Market who are yet to receive their share of the compensation promised them by the government are asking for their money. The traders are victims of a fire outbreak that razed the market. President Akufo-Addo, as part of efforts to support them directed the Microfinance and Small Loans Centre (MASLOC),…
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Kumasi Court convicts fake Motor Insurance dealers
A Kumasi Circuit Court has convicted two insurance fraudsters for selling fake insurance stickers to unsuspecting members of the general public. The conviction was occasioned by series of investigations conducted by the Police after they were picked up some time early this year by a joint task force of the Police and the National Insurance…
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GUTA welcomes Nigeria’s decision to reopen its land borders
The Ghana Union of Traders’ Association, GUTA, says it is looking forward to the reopening of the Nigerian border for trade activities to return to normalcy. According to them, this is critical to the success of the implementation of the African Continental Free Trade Area (AfCFTA). The Nigerian government in August last year closed its…