Tag: Ghana Business News
-
Cedi depreciates by 5 percent in March – BoG report
Latest figures by the Bank of Ghana have shown that the cedi’s depreciation against the dollar for March 2017, is five times more than the rate of depreciation recorded in the same period in 2016. The cedi has depreciated from 0.9 to 5 percent within the twelve months period. Also, in March 2017, the local…
-
Align tax cuts to export sector to tame cedi’s fall – Stanbic Bank MD
Bankers have urged government to regulate its tax cut policies on imports in order not to miss out on the need to reduce imports and tame the depreciation of the cedi. In their view, the high imports have partly contributed to the perennial depreciation of the local currency in relation to major international trading ones.…
-
Ghana loses GH¢490 m to illegal imports – BDCs
The Chamber of Bulk Oil Distributors (CBOD) has made a strong case for the government to clamp down on all importers of illegal products into the market if it is to provide fair competition in the industry. The Chamber argues that the perpetuation of the act led to a revenue loss of about 490 million…
-
Govt engages industry over 1 district, 1 factory project
Government has begun engaging industry players in fulfillment of its one district one factory policy which it intends to begin soon. This also follows government’s intention to involve the private sector in the implementation of the policy. As part of the consultations, the National Coordinator of the one district, one factory policy; Gifty Ohene Konadu…
-
Ghana’s unemployment rate hit 11.9 % in 2015 – Report
Ghana’s unemployment rate stood at 11.9 percent in 2015. This is according to the latest Ghana Labour Force Survey Report by the Ghana Statistical Service. This is about twice the figure recorded in 2012/2013 (5.8%) based on the Statistical services strict definition of unemployment – where “one was not working, actively looking for a job…
-
Telcos comply with NCA directive; unhappy with anti-SIM Box approach
The Ghana Chamber of Telecommunications has reiterated its reservation at the approach by the National Communications Authority (NCA) to deal with SIM Box fraud in the country. The Chamber contends that the technical or law and order approach by authorities have just been targeted at dealing with aspects of the issue. “… Anything else or…
-
VRA debt: 160 million cedis to be paid end of March
About 160 million cedis is expected to hit the accounts of banks that are owed the energy sector debts, by the end of March 2017. This is according to the President of the Ghana Association of Bankers, Alhassan Andani. The payment will be the first to be made this year since the erstwhile NDC government…
-
NCA halts Subah Infosolution’s anti-SIMbox operations
The National Communications Authority, NCA, has directed all mobile network operators to disregard notice from Subah Infosolutions requesting data purportedly to be used in anti-Sim Box field operations. A statement from the NCA and copied to Citi Business News said, “Subah Info solutions has requested some mobile network operators, to submit call detail records of…
-
Ghana likely to miss 2017/18 cocoa target over unfavourable weather
Ghana may miss its cocoa production target for the 2017/2018 crop season if the weather pattern forecast by the Ghana Meteorological Service is anything to go by. The service has predicted severe weather pattern that may cause downpour leading to flooding in the coastal zones but minimal levels in the middle belt. Already, the number…
-
Consumers dissatisfied with poor telecom services
Telecom users are demanding improved service delivery from service providers at a time that competition in the industry is becoming keener. The consumers, some of whom have been speaking to Citi Business News have also made a case for class action if the situation remains unchanged. It also appears that the consumer dissatisfaction cuts across…