Tag: Ghana Business News
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Crude oil, LPG top 2016 maritime imports
Ghana’s economy still remains a highly import driven one despite calls and the need to diversify the country’s exports and move it to a highly export driven one. Latest figures from the Ghana Shippers’ Authority have shown that total imports via the country’s maritime trade routes were twice the total exports for 2016 as compared…
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Galamsey operators suspend activities in support of ending the menace
Some galamsey operators in four districts of the Western region have pledged to suspend their activities in support of government’s fight to end the menace. They contend that the devastating impact of their activities is affecting themselves and other innocent lives. The Spokeperson for the galamsey operators, Nana Ntori Bonkyi Akomea made their intent known…
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Gov’t slashes fertilizer prices by 50%
Government has reduced the prices of fertilizer by fifty percent. This according to government is to motivate farmers to increase crop yields and also pave way for more exports. The Ministry of Food and Agriculture revealed that the price of compound fertilizer (NPK) which was GH¢85 in 2016, is now selling at GH¢ 57.50 pesewas.…
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Ghana woos investors for renewable energy production
The Ministry of Energy is optimistic of meeting its ambitious ten percent target of installed renewable energy capacity by 2020, with the completion of the relevant policy and regulatory framework. The move is also expected to drive down the high cost of power in the country. At present, renewable energy accounts for only one percent…
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Economist pushes Ghana’s 2017 growth down to 6 %
Some Economists have projected that Ghana will end this year with 6 percent economic growth, down from the government’s 6.3 percent target. According to an Economist for Global Markets at Stanbic Bank, Ayomide Mejabi, the projected growth will also be influenced by increased activities in the oil sector other than the increased business and consumer…
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Analysts intensify resistance to ECG concession
At a time government is considering plans to cede part of management of the Electricity Company of Ghana, some players in the industry have renewed appeals against the move. They argue that the plan if approved will have minimal impact in turning around ECG’s inefficiencies. About 350 million dollars out of the total 500 million…
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City Link initiates a comeback after 5 years of inactivity
Local airline company, City Link, has initiated processes for a comeback at least within the short to medium term. This is the indication from the Director General of the Ghana Civil Aviation Authority, Simon Allotey. According to him, the airline company in February 2017 renewed its air carrier license after five years of inactivity. “City…
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Spare parts dealers meet gov’t over tax cuts
Dealers of spare parts at Abossey Okai in Accra have told Citi Business News they are in talks with government to scrap the import levy on imported spare parts. The traders were thrown in a fix when it emerged that they may not enjoy any tax cuts due to the rules and regulations regarding the…
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Govt’s $ 2.25bn bonds will not crowd out private sector
One of three book runners for Government of Ghana’s four bonds issued recently, totaling 2.25 billion dollars has downplayed fears that the success of the bonds auction will have a negative impact on credit for the private sector. Government on Monday (April 3, 2017) announced it was successful in the auction of a total of…
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Galamsey polluting Ivory Coast’s water bodies
Ivorian authorities want the government of Ghana to stop the activities of illegal miners as the menace is impacting negatively on the country’s water resources. Ivorian water bodies that take their sources from the Western region of Ghana are heavily polluted and the situation is expected to worsen if unchecked. The concerns were raised during…