Tag: Ghana Business News
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Nigeria’s fuel shortage not to affect Ghana – ACEP
The Africa Centre for Energy Policy (ACEP) has ruled out any impact of the fuel shortage in Nigeria on Ghana. The energy think tank explains that Ghana’s decision to review downwards, its sulphur content for imported petroleum products, limits it from importing fuel from Nigeria. Nigeria has for the past three weeks been hit with…
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Cylinder recirculation: LPG Marketers to lay off workers if sidelined
About seven thousand (7000) members of the LPG Marketing Companies Association are expected to lose their jobs if government fails to integrate the association into the cylinder recirculation policy. The LPG Marketing Companies Association has been calling for an automatic migration onto the new policy. The Vice-Chairman of the LPG Marketers Association, Gabriel Kumi disclosed that the layoffs will be the…
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Ghana remains an oil led economy – Statistical Service
Latest figures released by the Ghana Statistical Service show that Ghana’s economy continues to be led by the oil sector. A development, some economists have warned could have dire implications for the country’s future if not checked. For the third quarter this year, the Ghana Statistical Service stated that oil contributed largely to the growth…
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Producer price inflation drops to 7.1% in November
The Producer Price Inflation (PPI) for Ghana reached 7.1 percent in November 2017. This represents a 1.2 percent drop in the 8.3 percent recorded in October 2017. The Producer Price Inflation measures the average change over time in the prices received by domestic producers for the production of their goods and services. The Acting Government…
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Business of Xmas: Fashion design business booms in December
The Fashion industry in Ghana has over the years gained momentum and continues to evolve. The industry is known as one of the many that receives heavy patronage during the festive period. In the fourth of our series, ‘the Business of Christmas’ which looks at businesses that receive heavy patronage during the festive season, Jessica…
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Banks’ average base rates remain at 25.7%
The interest rate at which commercial banks lend to their customers remained unchanged at 25.7% in November 2017. The same figure was recorded in the month of October 2017. The base rate is the lowest rate at which a bank would lend to its customers. According to the Bank of Ghana’s Annual Percentage Rates (APR)…
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Business of Xmas: Demand for event centres rise
In the midst of increased activities during the festive season is the rise in demand for event centres. The venues do not only come at high costs to event organizers but really a period to offer guests unforgettable moments. In the third of our series, ‘ the Business of Christmas’ which looks at businesses and…
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Importers demand downward review of new port tariffs
The Importers and Exporters Association of Ghana has impressed on the Ghana Ports and Harbours Authority (GPHA) to reduce the proposed 20 percent increase on import charge to 15 percent. The Association says although the 20 percent tariff increment may be justifiable, a further reduction will ease their cost of operations. The GPHA on Friday,…
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Business of Xmas: Make-up industry cashes in on yuletide
The month of December is undoubtedly a busy period for businesses both big and small as the festive season brings with it a lot of activity. As a result a lot of business owners look forward to this period all year long. In the second of our series ‘The Business of Christmas’ which looks at…
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Govt misses 2017 deadline for financial inclusion
Government has failed to meet its deadline for its key policies aimed at ensuring financial inclusion. The three; mobile money interoperability, national Identification system and Digital address system were key upon assumption of office of the NPP administration. But after chalking a year into their administration, the government has announced that it has postponed the…