Tag: Citi Business News
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Water tariffs go up from June 1
Effective June 1, 2023, the cost of water services will see an upward adjustment for all consumer groups. This follows a review and approval by the Public Utilities Regulatory Commission (PURC) for water tariffs to go up for the second quarter of 2023. “In taking this decision, the commission took cognizance of the cost of electricity,…
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Adopt a graduated approach to debt recovery – Govt to PURC
The Government has urged the Public Utilities Regulatory Commission (PURC) to defer at least 35% of the next electricity tariff adjustment owing to the current economic challenges faced by Ghanaians. Ahead of the PURC’s expected quarterly adjustment of electricity tariffs, Government Officials are reported to be impressing the regulator to be measured in its efforts…
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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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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…
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Fuel prices to decline in second pricing window of May – COPEC
The Chamber of Petroleum Consumers Ghana (COPEC) is projecting a decline in the prices of fuel in the second pricing window of May 2023. COPEC’s projections indicate that the decline is a result of the decrease in the price of crude on the international market and stable to slightly declining forex rates. Petrol is expected…
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Dominion University To Partner With USA Organisations To Set Up Centre Of Excellence For Artificial Intelligence
Dominion University College, a private institution located in Accra, has unveiled plans to create a Center of Excellence for Artificial Intelligence (AI) to equip young men and women with IT and business skills, and to help reduce youth and women unemployment in the country. In collaboration with renowned US-based organizations, the centre will provide practical…
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Tourism sector can generate $1.5bn, numerous job opportunities – GSS
According to the Ghana Statistical Service, the government could generate approximately $1.5 billion by 2027 if it fully exploits the potential of the tourism industry. The Service further states that developing the sector could help address the issue of high youth unemployment by providing economic opportunities. At the launch of the 2023 Domestic and Outbound…
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Supply disruptions caused fuel shortages – GOIL
GOIL has attributed the recent fuel shortage at some of its stations across the country to operational challenges occasioned by supply disruptions. A statement by GOIL apologised for the inconvenience caused and revealed that over two million litres of fuel have been dispatched to stations experiencing the shortages. GOIL added that over one million litres…
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Ghana Airports Company Limited holds 8th annual General Meeting
The Deputy Minister for Transport, Honourable Hassan Tampuli has commended the Board and Management of Ghana Airports Company Limited (GACL) for gradually steering the company out of the financial challenges brought about by the COVID-19 pandemic. He made these comments at the 8th Annual General Meeting of GACL held at Kotoka International Airport. Hon. Tampuli…
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Inflation for December jumps to 54.1%
The Ghana Statistical Service has pegged the inflation rate for December 2022 at 54.1 percent. This means that in the month of December 2022, the general price level was 54.1% higher than in the same period in 2021. At 59.7%, food inflation was the highest inflation rate for December 2022, soaring past the 55.3% recorded…