Tag: Ghana Business News
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Declining inflation to trigger lower policy rate (Article)
Inflation fell sharply to 10.3% in January. Headline inflation surprised when it fell sharply in January to 10.3%; year on year from 11.8% in December. This was well below our expectations for a marginal increase to 11.9%, largely owing to base effects. The deceleration in inflation will have been positively received by the Bank of…
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Importers resist Customs’ Cargo Tracking Notes policy
Businesses at the ports are opposing customs new policy, the Cargo Tracking Notes (CTN), saying it will add unto their cost of production. The CTN is expected to track all imports to Ghana to reduce revenue losses with under declaration. Even before its implementation in March 2018, the businesses say they will be disadvantaged. The…
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New 2nd Deputy Governor’s appointment apt – Economist
Economist Adu Sarkodie has described the appointment of the new Second Deputy Governor of the Bank of Ghana, Mrs. Elsie Awadzie as strategic. According to him, her experience as a senior counsel of the IMF’s Legal Department will help the country become financially disciplined. Mrs. Elsie Awadzie replaces Dr. Johnson Asiamah who resigned on January…
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Cedi to stabilise by end of March 2018
Currency analysts have predicted a relative stability of the cedi against the dollar, Euro and British Pound by the end of March this year – 2018. This comes despite the depreciation of the cedi in relation to the three major trading currencies. The perennial depreciation of the cedi has among others, impacted the planning of…
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Fair Wages considers halting yearly base pay rises
The Fair Wages and Salaries Commission has disclosed to Citi Business News plans to halt the yearly review of the base salary of public sector workers on the Single Spine Salary Structure (SSSS). According to the CEO of the Commission, Dr. Edward Kwapong, the decision should give value for money and link productivity with pay. Being…
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Mobile money attacks: Vendors appeal for protection
The increasing number of armed robbery attacks on mobile money merchants has reached an alarming rate, calling for new security measures to curb the canker. The latest victim is a 31-year old Mobile Money operator who was shot dead by some unknown assailants in the Afigya Kwabre District of the Ashanti Region. Current figure show…
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Utility service providers demand 200% increase in tariffs
Utility service providers in the country are demanding an upward adjustment in their tariff, despite assurances given by the President to reduce electricity tariff. The utility companies, at a meeting the Public Utility Regulatory Commission (PURC) in a Joint Consultative forum in Accra, wanted tariffs increased by about 200 percent. Speaking to Citi Business News, the…
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AGI meets PURC over tariff reduction
The Association of Ghana Industries (AGI) wants regulators in the power sector to clamp down on illegal users of electricity in order to reduce the rising operational losses. The AGI believes this should afford stakeholders the opportunity to reduce the tariff for genuine users. The comment follows negotiations with the Public Utility Regulatory Commission (PURC)…
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Ministry to solve housing crisis with Housing Authority
The Works and Housing Ministry has disclosed of plans to get the Ghana Housing Authority established by the end of next year (2019). The Ghana Housing Authority should also bring all segregated bodies in the real estate industry under a common unit to deepen monitoring. Deputy Minister of Works and Housing, Eugene Boakye Antwi who…
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Ken Ofori Atta leads non deal road show in Asia
The Minister of Finance, Ken Ofori Atta is leading a government delegation on a non deal road show in Asia (Hong Kong and Singapore) from Friday, February 9, 2018 to Wednesday, February 14, 2018. The road show is to expose new business opportunities in Ghana to investors and attract Asian fund holders to invest in…