Category: Top Stories
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Ghana’s economy faces mixed performance in first quarter of 2023
The latest data released by the Ghana Statistical Service (GSS) reveals a mixed performance for the country’s economy in the first quarter of 2023. While certain sectors experienced contraction, the services sector emerged as the driving force behind economic growth. According to the report, seven sub-sectors witnessed a decline in performance. The Water Supply, Sewerage,…
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Ghana’s economy grows by 4.2% in first quarter of 2023
According to the Ghana Statistical Service (GSS), Ghana’s economy experienced a notable growth of 4.2 percent in the first quarter of 2023 when compared to the corresponding period in 2022. The GSS data further revealed a positive development in the country’s real GDP, with a 1.1 percent increase in the first quarter, surpassing the previous…
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Rating agencies haven’t been reckless with economic downgrades – Prof. Bokpin tells govt
Economist, Professor Godfred Bopkin has countered the assertion made by President Akufo-Addo that the consistent downgrades of Ghana’s economy by international credit rating agencies have contributed to the country’s current economic woes. The President has described such downgrades as “reckless” and are not in the best interests of developing countries like Ghana. He added that…
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Bui Power Authority completes first floating solar project in Sub-Region
The Bui Power Authority (BPA) has successfully completed the construction of its pioneering 5-megawatt floating solar project, making it the first of its kind in the sub-region. The commissioning of the project is anticipated to take place later this year. The BPA initially embarked on the floating solar project with a capacity of 1 megawatt,…
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Importers and Exporters Association bemoans high port taxes
The Importers and Exporters Association of Ghana has expressed disappointment at the government for failing to address the excessive taxes charged at the ports. This, according to the Association, is believed to have resulted in Ghana losing a significant portion of its cargo traffic to Lomé. The Association also believes that the government has not…
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#CitiBusinessFestival: Five highlights from forum on retail and consumer market
The Citi Business Festival’s forum on the changing face of the Ghanaian Retail Market discussed ways of businesses and take advantage of the Ghanaian retail and consumer space of consumer markets. They discussed how local businesses and manufacturers can better understand changes to their landscape and become more competitive. The forum will see Robert Ahomka-Lindsay,…
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Traditional retail regaining market share as shoppers return to low-taxed stores – Michael Kottoh
Managing partner at Konfidants, Michael Kottoh has expressed the impact of the recent revenue mobilization exercise by the Ghana Revenue Authority (GRA) on bigger supermarkets in the country. Mr. Kottoh disclosed that the GRA’s recent revenue drive revealed an interesting trend where traditional retail is beginning to recover and reclaim the market share the biggest…
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Reckless behaviour of rating agencies worsened Ghana’s economic woes – Akufo-Addo
President Nana Addo Dankwa Akufo-Addo has said that consistent downgrades of Ghana’s economy by credit rating agencies have contributed to the country’s current economic woes. Akufo-Addo said that such “reckless downgrades” are not in the best interests of developing countries like Ghana. Speaking at the 30th-anniversary celebration of the African Export-Import Bank in Accra, Akufo-Addo…
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Citi Business Festival: Forum on Retail and Consumer Markets comes off today
The 2023 Citi Business Festival is in its third week and will today bring the business community, panelists to examine how to balance growing consumer demands with market uncertainties. The third forum of the festival will hinge on how to survive the uncertainties of the retail and consumer markets under the topic, “The Changing Face…
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Ghana’s inflation expected to rise in coming months – Report
Ghana’s inflation rate is projected to climb over the next two months. That is the latest forecast from IC Research Africa. This is largely due to the unfavorable pricing effect of the three new taxes, as well as the recent increase in utility tariff. After four consecutive months of declines in headline inflation, Ghana’s disinflation…