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GH¢2bn deficit is blow to economy – Economist

Economist Dr. Lord Mensah

Economist, Dr. Lord Mensah has criticized the almost 2 billion cedis budget deficit in the advance expenditure appropriation presented by the Minister of Finance, Seth Terkper. Parliament, on Thursday, October 20, approved the 10.99 billion cedis request by the Finance Minister. This also came after several deliberations both at the Finance Committee level and on the floor of the House. ...

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Ghacem does not need monopoly – Kofi Kapito

Diamond Cement

The Consumer Protection Agency has blamed the high cost of both residential and commercial properties in Ghana on the monopoly enjoyed by Ghana Cement (GHACEM). According to the CPA, Ghacem often increases prices of cement without taking into consideration the plight of the consumer due to the lack of competition. The comments follow recent concerns by local cement manufacturers over ...

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Terkper meets Parliament over advanced 2017 expenditure

Terkper in Parliament

The Finance Minister, Seth Terkper is currently engaged in a meeting with Parliament’s Committee on Finance over the Advanced Appropriation Bill presented to Parliament a while ago. Contrary to the expectations of many, Mr. Terkper did not present the details on the floor of the House as the Bill was referred to the Finance Committee for discussion. But a former ...

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Prioritized expenditure to curb budget overruns – Former PIAC Chairman

major-daniel-ablorh-quarcoo-(rtd)

A Former Chairman of the Public Interest and Accountability Committee (PIAC) Major Ablorh-Quarcoo (Retired) is asking government to prioritize its expenditure to avoid overspending budgets. According to him, the tendency of government to spend on unbudgeted projects must be stopped. The former PIAC Chairman cites how such behavior is impacting negatively on development across the country to make the point. ...

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More banks to list after Access Bank – Analyst

The Managing Director of Access Bank, Ghana Mr. Dolapo Ogundimu

Some stock market analysts are predicting more companies are likely to list on the Ghana Stock Exchange to meet the recapitalization requirement by the Bank of Ghana. The assertions follow the listing of Nigerian Bank, Access bank on the domestic bourse. The bank launched its Initial Public Officer (IPO) on Wednesday, October 19, 2016. The offer is however expected to ...

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Terkper presents Advanced 2017 Budget today

Finance Minister, Mr. Seth Terkper

The Minister of Finance, Seth Terkper, will today  present to Parliament  an Advanced Budget; covering government spending for the first quarter of 2017. The statement will show  the projected revenue and expenditure between January and March next year. This practice is in accordance with what the Executive does almost every election year to avoid spending hiccups in case of a ...

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DKM creditors given GHS10, vow to vote against Mahama

A receipt showing a creditor been given GHS10

Citi Business News can confirm that payment process for validated creditors of DKM Microfinance in Bolgatanga in the Upper East region has stalled, following a boycott by aggrieved creditors. The customers are angry over what they say are the paltry amounts being paid them. Some of the customers who spoke to Citi Business News complained that they are paid as ...

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Biz of Elections: Media adverts drain campaign budgets

media

Prior to the Election Day, various political parties cling onto advertising schemes and strategies to carry across their party manifestoes and messages to the public. Most political parties in a bid to ensure the adverts have an impact on the electorates, spend huge sums of money in advertising on radio, TV, newspapers and on billboards among others. The Klottey Korley ...

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Our projections were in range- COPEC

Total

The Chamber of Petroleum Consumers (COPEC) of Ghana has insisted that its projection of fuel price adjustment is accurate. COPEC issued a statement on Monday announcing that fuel prices may go up at the local pumps between 3 and 11 percent. But a statement from the National Petroleum Authority(NPA) yesterday described the announcement as false and misleading. The Chief Executive ...

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Fuel price up by 4% not 11%- NPA

Moses Asaga

The National Petroleum Authority (NPA) has described an announcement by the Chamber of Petroleum Consumers (COPEC) of Ghana that fuel prices have gone up by 11 percent as false and misleading. In a statement it issued Monday, October 17, the COPEC said that the price of diesel effective October 16, 2016 was reviewed upward between 8 and 11 percent. But ...

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