Category: Top Stories
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Producer Price Inflation drops to 50.8% in February 2023
Recent data from the Ghana Statistical Service, GSS, indicates that the Producer Price Inflation (PPI) for the month of February, 2023 fell marginally to 50.8%, from the 52.1%, recorded last month. Producer price inflation is the average prices of goods and services received by domestic producers for their production activities. This figure represents a 1.7…
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Growth and Sustainability Levy will stifle growth of local oil service companies – Upstream Petroleum Chamber
The proposed Growth and Sustainability Levy has the possibility to collapse indigenous oil service companies as well as trigger disinvestment by International Oil Companies if approved, the Ghana Upstream Petroleum Chamber, has cautioned. The Chamber explains that the levy which comes as an additional tax has the propensity to stifle the growth of local oil…
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Peasant farmers reiterate calls for construction of Pwalugu Multi-Purpose Dam
The Peasant Farmers Association of Ghana is urging the government to allocate funds for the construction of the Pwalugu multi-purpose dam, as part of its efforts to boost the agricultural sector. The dam, estimated to cost $993 million, would be the largest government investment in the northern region, with the aim of addressing three key…
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ECG disconnects GRA, KFC, Ho Airport others from power grid
The Volta Regional branch of the Electricity Company of Ghana disconnected some customers on the first day of its nationwide revenue mobilization exercise which began on Monday, March 20, 2023. The exercise which took place in all eleven districts supervised by regional branch of the company in the Volta and Oti Regions saw officials from…
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GRA monitoring team retrieves over GHC85m revenue shortfall
The monitoring team of the Ghana Revenue Authority, GRA has mobilised over 85 million cedis in domestic revenue within the first five months of operation. The monies were recovered by four teams put in place to undertake risk based and intelligence driven operations across the country between October 2022 and February 2023. The four teams…
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Finance Minister leaves for China for debt negotiations
The Finance Minister, Ken Ofori-Atta, is expected to arrive in China on Wednesday for debt negotiations. The Minister is leading a high-level government delegation for bilateral talks on debt restructuring and financing assurances on Thursday and Friday, the source said. The delegation includes other government officials as well as technical teams from the Ministry of…
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Industry experts convene to discuss diversification strategies for pension funds
On Friday March 17th 2023, stakeholders from across the pension and financial services industry gathered for the fifth edition of the Pension Strategy Conference; an annual industry-shaping and policy advocacy event in Ghana. This year’s Pension Strategy Conference presented a platform for investment managers to showcase exciting and innovative investment opportunities that offer pension funds…
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Ghana’s debt level frustrating businesses, individuals – IEA
The Institute of Economic Affairs (IEA), a public policy think-tank, has described Ghana’s current debt, which is being restructured, as “disheartening and frustrating”, to businesses and individuals. As a result, the Institute has advised Government to take action to swiftly conclude the debt restructuring process to secure the US$3 billion loan-support programme with the International…
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Gold Fields, AngloGold rule out merger after Ghana joint-venture deal
Gold Fields (GFIJ.J) and AngloGold Ashanti (ANGJ.J) are not considering a full-scale merger after they agreed to combine their neighbouring Tarkwa and Iduapriem mines in Ghana to create Africa’s biggest gold mine, the two companies said on Thursday. Gold miners are increasingly looking to consolidate as they seek to replace depleting reserves and contain cost…
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Govt pays outstanding coupons to individual bondholders
Government has commenced payments of outstanding coupons to individual bondholders who failed to participate in the Domestic Debt Exchange programme. In a statement, the coalition of Individual Bondholders confirmed the payments of matured coupons to its members but called on the Ministry of Finance to review its communication management and reposition it for proactive engagement…