Category: Top Stories
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10% reduction in transport fares takes off today
Public transport fares are to go down by 10 percent effective today, Wednesday, May 17, 2023. Road transport operators attributed the reduction to consistent marginal reductions in the price of fuel. The reduction covers shared taxis, intra-city (trotro), intercity (long distance) and haulage. Announcing the reduction in a statement, the road transport operators in a…
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BoG’s MPC commences assessment of economy today
The Monetary Policy Committee (MPC) of the Bank of Ghana will today commence its regular meetings to review developments in the economy. This meeting which is the 112th, will end with a press conference on Monday, 22nd May, 2023. The meeting will also end with a decision on the appropriate positioning of the Central Bank’s…
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Pensioner Bondholders give govt Friday to settle unpaid coupons
The Pensioner Bondholders Forum has given the government until Friday, May 19, to pay all outstanding coupons as agreed. Following several days of protest, the government pledged to begin payment on Monday, however Citi Business News checks show that members of the group are yet to be paid. They anticipate that all of the 17…
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Withdrawal of growth and sustainability levy in 2025 unlikely – Tax analyst
Tax Analyst, Francis Timore Boi has indicated that government is unlikely to withdraw the Growth and Sustainability Levy after 2025 as promised. Parliament on March 31 passed the three tax bills including the Growth and Sustainability Levy. President Akufo- Addo has since assented the bills into law. Many in the business community including the Ghana…
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Cedi to appreciate further after IMF Board approval – Courage Boti
Analysts are still anticipating further gains of the cedi should Ghana secure board approval from the International Monetary Fund (IMF), as expected. There have been strong predictions that Ghana’s currency will see more strengthening on the forex market as the country prepares for the first loan tranche of US$600m from the IMF in the next…
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Angry GIHOC staff demand Kofi Jumah’s removal as MD
Staff of GIHOC Distilleries Limited in Accra, are demanding the immediate removal of the Managing Director, Maxwell Kofi Jumah over mismanagement. The workers who embarked on a protest at the premises of the company amidst heavy police presence on Tuesday, May 16 insist that their salaries and Social Security and National Insurance Trust (SSNIT) contributions…
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IMF deal: Prof. Gatsi doubts approval of first tranche on Wednesday
Economist Prof. John Gatsi, is doubtful that Ghana would get approval for its first loan tranche of US$600 million from the International Monetary Fund (IMF) by Wednesday, May 17. The government has stated that the first tranche of the US$ 3 billion bailout will hit the account of the Bank of Ghana later this week.…
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Pensioner Bondholders Forum yet to receive payment of matured coupons
Despite reaching an agreement with the government, members of the Pensioner Bondholders Forum are yet to receive payment for their matured coupons. The bondholders were looking forward to their funds on Monday, May 15, following the suspension of their picketing at the Ministry of Finance after five days. However, checks with the group suggest that…
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Be fiscally responsible after IMF Board approval – Economist cautions govt
Economist, Dr. Patrick Asuming, is advising government to be more pragmatic in its fiscal policy direction post-bailout from the International Monetary Fund (IMF). His caution is on the back of financial assurances from the country’s external creditors and the anticipated International Monetary Fund board approval for Ghana. Speaking to Citi Business News, Dr. Patrick Asuming…
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Transport fares to go down by 10 percent from May 17
Users of public transport will enjoy a 10 percent reduction in fares by 10% effective Wednesday, May 17, 2023. This follows consistent marginal reductions in the price of fuel. The road transport operators in a statement on Monday night said the reduction affects shared taxis, intra-city (trotro), intercity (long distance) and haulage. “In line with…