Tag: Ghana Business News
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Non-traditional exports decline by 2.3% in 2016
Ghana’s Non-Traditional Exports for 2016, dropped by 2.3%. The figure dropped from 2.5 billion dollars in 2015 to 2.4 billion dollars between 2015 and 2016. Despite the drop within the twelve months period, the Non-Traditional exports contributed about 23 percent to total exports in 2016. The 2016 contribution represented an increase compared to the previous…
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MPC likely to maintain policy rate at 23.5% – GN Research
GN Research expects the Monetary Policy Committee (MPC) to keep the Monetary Policy Rate at 23.5%, due to a positive trend in inflation outlook, a stable currency, an improved investor confidence and the general positive outlook for the economy. The (MPC) of the central bank is set to announce a new Monetary Policy Rate (MPR),…
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Ethel Cofie to speak at G20 and Oxford Africa summits
Ghanaian entrepreneur and CEO of EDEL Technology Consulting, Ethel Cofie has been invited to speak at the G20 Summit in Berlin and the Oxford Africa Summit at Oxford University, UK. Ethel will be speaking on Technology and Emerging Markets. Named as one of the Top 5 Women impacting IT in Africa, Ethel Cofie is CEO…
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Average deposit rate increases marginally; Stanchart still offers lowest rates
The average interest offered by banks on customer deposits increased by 1 percent between March and April 2017. According to the latest Annual Percentage Rates (APR) and Average Interest (AI) report by the Bank of Ghana, the figure went up from 11.2 percent as at the end of March 2017 to 11.3 percent as at…
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2017 production not affected by faulty turret bearing – Tullow
Tullow Oil has told Citi Business News its production from the Jubilee Oilfields this year has not been affected by the challenges that have been associated with the turret bearing. The oil company says its production target for 2017 will therefore not be affected as a result. Tullow, in its 2016 financial report projected a…
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Consumer Agency demands refunds for bounced visas
The Consumer Protection Agency (CPA) is threatening a demonstration should government refuse to address issues of unfair treatment meted out to Ghanaians at the various embassies within twenty one working days. The CPA also wants huge visa fees charged Ghanaians to be refunded to them if they are refused Visas by the embassies. Citing various…
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Nine member GRA Board inaugurated
The Minister of Finance, Ken Ofori Atta has inaugurated a nine member board for the Ghana Revenue Authority (GRA). The Board is chaired by Mr. Harry Owusu with the Commissioner General of the Ghana Revenue Authority, Emmanuel Kofi Nti, Deputy Trade Minister, Carlos Ahenkorah and the First Deputy Governor of the Bank of Ghana, Mr.…
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![Microfinance: Ghana’s situation and what you need to know [Article]](https://citibusinessnews.com/wp-content/uploads/2017/05/microfinance-1.jpg)
Microfinance: Ghana’s situation and what you need to know [Article]
The primary objective of microfinance is to create financial inclusiveness and provide an avenue for the delivery of essential financial services to sections of the society who would otherwise be largely uninvolved or unable to fully access them. Ghana’s microfinance sector has been immensely beneficial to the economy. It has expanded the scope of participation…
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Ghana’s telecom industry over taxed – Vodafone CEO
The CEO of Vodafone Ghana Madam Yolanda Cuba has expressed worry over the huge number of taxes being slapped on the telecom industry. She believes the situation has contributed to the industry’s current woes. ”It is an industry that is quite heavily taxed. We are taxed on top line, about three or four taxes that…
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Akosombo residents demonstrate over ‘killer’ tariffs
Scores of residents of Akosombo in the Eastern Region have poured on to the streets, demonstrating over what they describe as killer electricity tariffs. The demonstrators, some of who joined from surrounding communities say, the problem of high tariffs started when the Electricity Company of Ghana (ECG) changed their meters. The situation, according to them,…