Tag: Ghana Business
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Use Mid-year budget to fully review the benchmark values policy– AGI CEO
Ahead of the presentation of the 2022 mid-year budget review, the Association of Ghana Industries (AGI) is calling for a full review of the benchmark values reduction policy. According to the leading industry group, despite the announced reduction in the benchmark values discounts applied to general goods and vehicles, in February this year, their goods…
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Spare parts dealers to reduce prices over tax cuts (Video)
Consumers of spare parts should expect reduction in prices of goods within the coming months. The reduction has been necessitated by the abolishing of the levy on imported spare parts. Presenting the first budget by the NPP government in Parliament on Thursday, Finance Minister, Ken Ofori-Atta announced that importers will no more be paying…
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Tigo & Airtel complete merger talks
Citi Business News has learnt telecom operators; Airtel and Tigo, have completed merger talks to make the two companies one entity in Ghana. The talks which commenced last year were finalized early this year-2017, with persons familiar with the move asserting, that an announcement on the completion will be made soon. It still remains unclear…
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Producer Inflation drops to 3.1 percent in January 2017
The Producer Price Inflation for January 2017 recorded 3.1 percent. This rate is 1.7 percent lower than the rate recorded in December 2016 which was 4.9 percent. The monthly change rate for January 2017 was 2.1 percent. According to the Ghana Statistical Service, the Mining and Quarrying sub-sector recorded the highest year-on-year producer price inflation…
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Unibank offers most expensive interest on car loans – BoG report
The latest Annual Percentage Rates (APR) and Average Interest (AI) report by the Bank of Ghana has shown that Unibank still leads as the bank with the most expensive rate on vehicle loans. For three consecutive times, Unibank’s rate on your car loan has hit 45.5 percent from the 40.8 to 45.8 percent as at…
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Stanchart offers lowest interest on customers’ deposits – BoG report
Standard Chartered Bank has been named as the bank with the lowest interest on customer deposits. According to the Bank of Ghana’s latest Annual Percentage Rates (APR) and Average Interest (AI) report, Standard Chartered Bank offered 4.3 percent on deposits of its customers as at end of January 2017. The report which contained the rates…
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Banks position themselves for recapitalization
Commercial banks across the country are confident of meeting the new minimum capital requirement yet to be set by the Bank of Ghana (BoG). The BOG last year disclosed that it will give commercial banks some space to meet a new capital reserve ratio. The figure is expected to go up from the current 120…
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Petrol, diesel prices to go up by 3 percent next week
The Institute of Energy Security (IES) has predicted a 3 percent increase in fuel prices next week. According to the Institute, due to current developments around the world, it is likely prices for the next pricing window will go up. “If you look at the crude oil price at the world market, the cedi dollar…
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Rent revenue increases by over 4000% in 2016 – GRA
Government’s revenue from rent increased by more than 4000 percent between 2015 and 2016, the Ghana Revenue Authority (GRA) has said. The amount collected increased from GH¢145,434.51 to GH¢6,739,107.76 between the period. According to the GRA, revenue from excise recorded the worst performance as it dropped by 91.75 percent within the one year period. Revenue…
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Air Peace starts Accra-Lagos route
Competition on the Accra –Lagos flight route has been intensified with an additional airline operating effective today (February 16, 2017). The Nigerian owned Air Peace which operates an intra-city flight in Nigeria, has since extended its services to Accra due to the increased passenger volumes along the route. The move also comes at a time…