Tag: Ghana Business
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Inflation drops to 15.8 percent in October
Ghana’s Inflation for October 2016 reached 15.8 percent. The figure represents a 1.4 percent reduction from the 17.2 percent recorded in September this year. This is higher compared to the monthly change rate for September which was 0.2 percent. According to figures released by the Ghana Statistical Service, inflation for the food and non-alcoholic beverages…
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Biz of Elections: Demand for outdoor campaigns rises (Audio)
A prominent feature in the election season is the massive outdoor campaigns by the various political parties. This is because outdoor campaigns are inevitable for any well meaning political party seeking power. In a bid to get their messages across, the political parties also spend huge monies on such activities. As part of Citi Business…
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Fiscal deficit to hit 6.2 percent in 2016 – Economist
Some economists have predicted that Ghana will end this year (2016), with a budget deficit of 6 percent to GDP. They contend that the increased expenditure by government without an equal increase in revenue will cause a distortion to government’s budget deficit target for the year. “Per the projections, we are supposed to end the…
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Government to raise GH¢200m in first 10 year local bond
Government will tomorrow [Wednesday, November 9, 2016] issue its first 10 year domestic bond as part of efforts to raise long term funds to support its capital expenditure. Government is seeking to raise about 200 million cedis from the bond. A statement on the issue said the deal will be opened to non-resident buyers, through…
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Industries urge sustainable policies to aid planning
The Association of Ghana Industries, AGI, is demanding sustainable macro-economic policies to favour the growth of businesses. According to the AGI, policies that transcend into the long term will help its members and investors alike, plan and strategize for growth. “AGI thinks that it’s a welcoming development and we are looking forward to the sustainability…
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AGI bares teeth at government over ‘high’ taxes
The Association of Ghana Industries (AGI), has disclosed of an audacious exercise to demand reduction in taxes for its members. President of the AGI, James Asare Adjei maintains the outfit it is dissatisfied with the introduction of taxes without recourse to its members on the adverse impact on their businesses. “This year, businesses were subjected…
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Ghana to import 10,000 tons of fish feed in 2017
Government has disclosed plans to import 10,000 metric tons of fish feed from China, next year. Minister of Fisheries and Aquaculture, Sherry Aryeetey who disclosed this said the move is to improve Ghana’s fishing industry by reducing the high cost of operation in that sector. According to her, the initiative is a collaboration between the…
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Former port workers demand ‘benefits’ with threats of votes
Aggrieved ex workers of the Ghana Ports and Harbours Authority (GPHA), have given management of the port, a five day ultimatum to address their concerns or face their wrath. Over two hundred of the ex-workers this morning picketed at the headquarters of GPHA in Tema. According to them, management has not treated them fairly after…
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Election blues to impact cedi minimally – Analyst
The activities of speculators which cause the cedi to depreciate against some major trading currencies may have minimal impact on the currency as the elections approach. This is the position of some currency analysts. The comments come on the back of concerns among some industry watchers of possible distortions to the cedi’s performance ahead of…
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Interests on mortgage loans hit 31.5%
Ghana’s quest to reduce the almost 2 million housing deficit may take a long time as interest on mortgage loans continue to rise. According to latest average interest and Annual percentage report released by the Bank of Ghana, interest on home loans increased marginally from 30.6 to 31.5 percent between May and September this year.…