Category: Top Stories
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Finance Minister hints of favorable budget to revive economy
The Minister of Finance, Ken Ofori-Atta has hinted that the 2023 budget will roll out pragmatic policies that revive the economy from the grappling effect of the current crisis. The Finance Minister maintains that his tenure has seen some amount of significant improvement in the economy. He made these comments when he appeared before the…
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GSE tightens rules on green bonds
The Ghana Stock Exchange (GSE), in collaboration with the Securities and Exchange Commission (SEC), has launched new rules to guide the listing and trading of green and sustainable bonds on the market. Dubbed the Green and Sustainable Bond Rules, the launch of the new guidelines formed part of activities to mark the 32nd anniversary of…
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Only 0.5% of 18m tons of cassava is processed – DBG & GIRSAL Forum reveals”
The Chief Executive Officer of Bankyekrom Limited, Sarpei Kwadey, has revealed that a high percentage of cultivated cassava –10 million tons — remains un-uprooted whiles only 0.5 per cent of the annual 18 million metric tons is processed. He said more than 70% of farmers in Ghana produce cassava, and the sector contributes about 22%…
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Producer Price Inflation rises sharply — Now at 65.25% in October
THE Producer Price Inflation (PPI) which measures the average change over time in the selling prices of goods and services as received by domestic producers shot up to 65.2 per cent in October. This was up from the 45.6 per cent recorded in September and clearly signals what is to be expected of consumer inflation…
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Horticulture exporters urged to scale up production
Horticulture exporters have been challenged to take advantage of the looming shortage of fruits and vegetables in Europe as a result of the raging Russia-Ukraine war to maximise their gains. The Country Manager of the multi-national airport handling company, Swissport, Chris Goodsir, who made the call, explained that the war was creating an energy shortage…
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Trade bodies advocate policy on profit retention by foreigners
Trade bodies in the country have called for what they describe as “a profit retention policy” to regulate how much profit foreign investors repatriate to their home countries. That, they believe, is one of the measures that is needed to be taken to stabilize the cedi against the major foreign trading currencies while re-energizing the…
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Effective 2023, vehicles without right certification will not qualify for importation- GSA
The Ghana Standards Authority has informed importers of used vehicles that beginning 1st January 2023 all, used vehicles imported into Ghana shall be accompanied by a valid Certificate of Conformance (CoC) from an approved body. The certificate must demonstrate conformance of the used vehicle to requirements of the Ghana Standard for used vehicles (GS 4510:2022…
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LPG use to decline by about 25 % by the end of the year
The LPG Marketers Association is predicting a 25% decline in consumption of LPG by the close of 2022. This, according to the Association, is as a result of taxes on the product which has culminated in price hikes recorded in months past. Vice President for the LPG Marketers Association Gabriel Kumi told Citi Business News…
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Telcos contribute GH¢4.3bn in taxes
THE telecommunication industry contributed GH¢4.3 billion in taxes to the economy last year. The amount represented 7.7 per cent of government revenue for the period in review. Players in the sector also created 6,100 direct jobs and 1.2 million indirect jobs last year, bringing to the fore the critical role of telecommunications in bridging the…
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Banks urged to leverage economic crisis
The current global economic crisis presents banks the opportunity to innovate, accelerate and deepen their much needed transformation, Finance and Strategy Consultant, Professor Noel Tagoe, has said. He said while crisis destroyed bad companies, good companies survived them, and great companies were improved by them. At the 26th annual banking conference organised by the Chartered…