Category: Top Stories
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Ofori-Atta commends G20 for AU’s inclusion, urges common voice
The Minister for Finance, Ken Ofori-Atta says Africa now has the opportunity to contribute to key global issues and push for common interests that would help accelerate economic development in the region. Mr. Ofori-Atta’s optimism follows the recent inclusion of the African Union in the Group of 20 most important industrialized and developing economies, also…
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WTO Director-General calls for ratification of Fisheries Subsidies Agreement
The Director-General of the World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala, has called on member countries of the Organisation to fast-track the ratification of the Agreement on Fisheries Subsidies to check overfishing in the oceans. Speaking to about twenty-three journalists selected from developing countries in Geneva, Switzerland, Dr. Okonjo-Iweala bemoaned the ramifications of overfishing on…
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Ghana’s Complete Farmer, which connects farmers to global food buyers, raises $10.4M
Africa’s agricultural sector has a significant social and economic impact, per McKinsey. The percentage of smallholder farmers in sub-Saharan Africa exceeds 60%, while agriculture accounts for approximately 23% of the region’s gross domestic product. But despite the apparent opportunity in the agricultural sector, it is difficult for Africa to successfully participate in global supply chains…
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No more harassment of our members – GUTA warns GRA
The President of the Ghana Union of Traders Association (GUTA), Dr. Joseph Obeng, has warned the Ghana Revenue Authority (GRA) against using intimidating tactics to implement the Upfront Payment of the Value Added Tax (VAT). Addressing the media in Accra on Wednesday, Dr. Obeng said GUTA members will no longer tolerate the GRA’s “Rambo style”…
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GCB Capital projects retention of 30% policy rate till end of 2023
Ahead of the announcement of a new policy rate on Monday, financial actors are anticipating a stay in the figure. This they believe will further bolster the disinflation trajectory of the economy. It comes as the Monetary Policy Committee (MPC) of the Central Bank has initiated its routine meetings to assess the state of the…
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Ghana’s economy grows by 3.2% in quarter two of 2023
The economy of Ghana saw a 3.2% growth in the second quarter of 2023 according to provisional data from the Ghana Statistical Service (GSS). When seasonally adjusted, the real GDP increased by 0.7 percent in the second quarter of 2023, a 0.1 percentage point lower than what was recorded in the first quarter of 2022.…
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Rate for PPI falls to 28.3 % in August 2023
Recent data from the Ghana Statistical Service (GSS), show that the Producer Price Inflation (PPI) for the month of August 2023 fell marginally to 28.3% from the 32.9% recorded in July 2023. This represents a 4.6 percentage point decrease in producer inflation relative to the rate recorded in July 2023 PPI is the average price…
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BoG advised me to streamline Menzgold operations – NAM 1
Nana Appiah Mensah, the founder of the defunct Menzgold company, who is on trial for allegedly defrauding over 16,000 people of GH¢1.6 billion, has denied circumventing the laws of Ghana to operate an illegal gold deposit-taking business. His lawyer, Kwame Akuffo, told the High Court on Tuesday, September 19, that Appiah Mensah popularly known as…
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Suppress appetite for high-interest loans – ISSER cautions govt
The Institute of Statistical, Social and Economic Research (ISSER) has cautioned the Government to suppress its appetite for high-interest loans. Professor Peter Quartey, Director, ISSER, noted that Ghana’s ongoing US$3 billion loan-support programme with the International Monetary Fund (IMF) could soon position the country to access loans on the capital market. He said this in…
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114th MPC meeting: Economic assessments begin amidst marginal inflation fall
The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has commenced its regular meetings to review developments in the economy. This is the 114th meeting of the Committee and is expected to decide on steps to ensure financial and economic stability. Dominating the MPC meeting will be the policy rate decision aimed at…