Tag: Ghana Business News
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IMF Article 4 survey predicts positive growth for Ghana
The International Monetary Fund (IMF) has projected a more promising economic prospect for Ghana’s economy for the rest of 2017. According to the fund, the increased oil production, declining inflation, plus other economic indicators are expected to inch Ghana’s economy towards achieving an end of year growth target of about 6 percent. “Economic prospects in 2017…
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2017 budget to determine BoG’s single digit inflation target
The Ghana Statistical Service has told Citi Business News the Bank of Ghana’s single digit inflation target should be achieved if policies outlined in the 2017 budget impact on prices of goods and services. The Acting Government Statistician, Baah Wadieh explains to Citi Business News the monetary and fiscal policies that influence pricing would translate…
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GhIPSS likely to provide interoperability for telcos
Citi Business News has gathered that the Ghana Interbank Payment and Settlement Systems (GhIPSS), has been given the green light to develop an interoperable platform for telecom operators in the country. The move also comes on the back of a botched contract involving Sibton Switch Systems which had been selected to carry out the mandate.…
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COCOBOD hopeful of 2016/17 targets as it signs new LBC
The Ghana COCOBOD has reiterated its optimism of meeting the one million metric tonnes cocoa output target at least by the end of the next four years. According to the Cocoa industry regulator, its optimism stems from its ability to meet the over 800 thousand metric tonnes target for the 2016/2017 crop season. The CEO…
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NPRA introduces incentives to attract more pension funds
The National Pensions Regulatory Authority (NPRA) has initiated measures to encourage high participation of Corporate Trustees to maximize the coverage of persons in the informal sector. The incentives include the reduction of some licensing fees and the waving off of others to increase funds available to trustees. Among the licenses reduced include; individual Trustee Informal…
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Car dealers kick against import of over-aged vehicles
Automobile dealers in Ghana have called on government to halt the importation of over aged vehicles into the country. The dealers say the overused cars are harmful to the lives of citizens. In an interview with Citi Business News, the Chief Executive Officer of Universal Motors, Subhi Accad said government must take a firm stand…
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Communication Ministry to review industry laws by year end
The Ministry of Communication has served notice that it will by the end of the year revise the law governing the telecommunication industry. According to the Ministry, the growth in the industry has called for new regulation to resolve confusion among telcos. The industry this year has so far seen major growth with the merger…
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Shippers appeal for stable currency to aid business
Shippers have impressed on the government the need to work to maintain the cedi’s stability for the rest of this year to facilitate their trade. According to them, the cedi’s depreciation had impacted adversely on their operations as it resulted in some operational losses. The CEO of the Ghana Shippers’ Authority, Dr. Kofi Mbeah explained to…
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Tax cuts to lead to automobile hubs in Ghana
Automobile dealers have hinted of establishing an automobile hub within the next five years in Ghana due to the reduction in taxes on imports. According to them, the tax cuts will facilitate the importation of products at cheaper costs with no or minimal losses. “For the moment, we are looking for a reliable partner here…
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Cassava, soya beans to rescue economy from declining cocoa prices
Players in the agric sector have made fresh appeals to develop other export yielding ventures to increase Ghana’s export revenue. The renewed calls also come at a time that export revenue from cocoa is expected to drop due to declining global market prices. They contend that the increased options will shield the country from impacts…