The general rise in prices of goods and services had fallen back to its normal levels in May 2021, following continuous decline in the food basket; thereby bringing inflation back to its pre-pandemic status, data from the Ghana Statistical Service (GSS) have shown.
According to the data released yesterday, average...
Despite the tightening of the public purse, which will see government expenditure controlled in 2018, the policies initiated by government do not support the idea that cash will be scarce in the economy, President of Groupe Ideal, Nii Kotei Dzani, has said.
“It is true that the biggest chunk of...
African currencies net losers in oil spike
Russia’s war in Ukraine has sent oil skyrocketing to more than $130 a barrel—its highest price since the global financial crisis. Elevated oil prices alongside limits on Russian oil exports are likely to benefit African crude producers including Algeria, Angola, Nigeria, Libya and...
Rand Merchant Bank (RMB), the corporate and investment banking arm of FirstRand Bank Limited – of which First National Bank Ghana is also a division, says the negative effects of the Russia-Ukraine war continue to reverberate throughout Africa’s economies. Coupled with the lingering effects of the COVID-19 pandemic, this...
The Chief Executive Officer of the Ghana Investment Promotion Centre (GIPC), Yofi Grant, says Ghanaian businesses are better off with government incentives aimed at fostering their growth rather than protecting them from foreign competition.
Speaking during the week 2 of the Citi Business Festival on the theme, ‘Doing business in...
The SAP Young Professional Program, which forms part of the broader Skills for Africa initiative, has extended its footprint with a revised, fully virtual model that has enabled young candidates in several African countries to participate in the program, despite the pandemic.
Since its launch in 2012, the program has...
The Cedi slumped against the dollar this week, sliding to 6.375 from 6.296 at last week’s close, after Moody’s cut Ghana’s credit rating deeper into junk territory, reducing it one level to Caa1 from B3.
The rating agency said the government faces an increasingly difficult task to address its liquidity...
There is more good news for Micro, Small and Medium Enterprises (MSME) which have been hit hard in amid the COVID-19 economic challenges, as the National Board for Small Scale Industries (NBSSI) has said it will be disbursing the GH¢90million secured together with the Mastercard Foundation.
The disbursement will happen right...
The acting Commissioner-General of the Ghana Revenue Authority (GRA), Ammishaddai Owusu-Amoah, has indicated that among the GRA’s 2021 strategies to increase its revenue portfolio is an aggressive and vigorous taxation of e-commerce this year, as the regulation empowering the taxation is being streamlined and sensitisation is going on.
It is...
The European Union has provided a grant of €35million to government for the rehabilitation and maintenance of 670km of feeder and farm access roads in the Upper West Region.
This support aims at improving inter-connectivity between areas of production and market centres.
To mark the start work, a ground-breaking ceremony has...