Tag: GNCC
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Bankers, businesses anxious over BoG’s policy rate
There are mixed expectations ahead of the policy rate to be announced later this morning by the Bank of Ghana. The Monetary Policy Committee at its last meeting reduced the policy rate to 17 percent. Some bankers and businesses Citi Business News has been speaking to all argue that the central bank must provide a…
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Manage UT & Capital Banks takeover to build investor confidence – Chamber of Commerce
Business Associations have impressed on the Bank of Ghana and relevant institutions to properly manage the takeover of Capital Bank and UT Bank in order not to erode investor confidence. They argue that the inability to control the transaction to protect the interest of affected businesses will ultimately affect economic growth. The concerns by the…
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Industry demands low interest rates, stable cedi after 100 days
Businesses are impressing on the government to pursue economic policies that will sustain growth and create employment in the country. They argue that the eventual drop in interest rates and a stable currency should ease the cost of doing business and allow private sector growth. The comments come on the back of the assessment by…
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Declining inflation, ‘stable’ cedi to signal drop in policy rate
Economists are highly expectant of a reduction in the policy rate by the Monetary Policy Committee (MPC) of the Bank of Ghana as the Committee prepares to announce its new rate next Monday. They cite the declining inflation, relative stability of the cedi and government’s pro business agenda as the basis for their claims. “Obviously…
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GNCC, Indian businesses strategize to boost Ghana’s exports
The Ghana National Chamber of Commerce (GNCC) has expressed its support for the Indian government and the Trade Promotion Council of India’s (TCPI) initiative of increasing trade relations. The initiative seeks to promote economic growth in Ghana through trade, employment generation and value addition to the country’s raw materials. The Head of Marketing, Trade and…
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Private sector pushes for optimal inflation target
Private sector businesses have strongly advocated an optimal inflation target to guide economic policies that support private sector growth. They argue that the current drop in inflation while other factors such as interest rates and depreciation remain unchanged, make it difficult for them to plan and expand their business operations. “I think that as a…
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Reducing taxes will require more time – Ken Ofori Atta
Finance Minister Nominee, Ken Ofori Atta has told Citi Business News government will have to undertake a careful analysis of its tax cuts promise before it implements it anytime soon. According to him, modalities for implementing the NPP’s promise to cut down taxes will largely be outlined in the 2017 budget. “The tax cuts will…