Business

The fall of the Cedi against the major trading currencies especially the Dollar has resulted in increasing costs of doing business in Ghana, the President of the Ghana Union of Traders Association (GUTA), Dr Joseph Obeng, has said. Dr Obeng said that businesses are unable to service their debts with the banks because of the exchange rate issues. “We’re unable ...

Mineral resources rich economies in West Africa have been asked to deal with inequalities in the Extractive sector in order to prevent poverty and repel the growing violent extremism in the sub-region. According to the proponents, policies relative to Extractive sector must be all encompassing and beneficial to all.   The call was made recently at a natural resources meeting held ...

A Governance Expert Professor Baffuor Agyeman-Duah has criticized the government for the snail’s pace with which it is finding solutions to the power challenges. He believes that given the rate at which the power outages occur, the government should have at least attached all seriousness to finding lasting solutions but that has not been the case. Speaking on the Ghana ...

The Minister of Finance, Dr Mohammed Amin Adam, has reaffirmed that Ghana’s medium-term macroeconomic outlook and prospects remain positive and promising. He also highlighted the government’s dedication to implementing comprehensive structural reforms to bolster growth and enhance revenue mobilisation. Speaking during a joint press conference by the government of Ghana and the International Monetary Fund (IMF) on Saturday, April 13, ...

Parliament has summoned the Minister for Transport, Kwaku Ofori Asiamah, to appear before the House on Tuesday, March 19, 2024, over unlawful charges by the Ghana Airports Company Limited. This follows concerns raised by the Minority Caucus over the introduction of a $20 maintenance charge on all round trips by the Ghana Airports Company Limited and a $10 charge for ...

Latest data from the Ghana Statistical Service has revealed a decline in inflation, with the February figure standing at 23.2%. This represents a 0.3 percentage point decrease from the 23.5 percent recorded in January. During a press briefing in Accra on Wednesday, Government Statistician Prof. Samuel Kobina Anim provided a breakdown of the figures, explaining that the 23.2 percent indicates ...

The Executive Secretary of the Chamber of Petroleum Consumers Ghana (COPEC), Duncan Amoah, has called on the government to be transparent regarding the underlying financial challenges in the power sector. His comments come at the back of an admission from GRIDCo that the blackout in some parts of the country on Sunday, March 3, 2024, was due to faulty equipment ...

The Ministry of Finance is pleading with President Akufo-Addo not to assent to the recently passed anti-LGBTQ bill by Parliament. In a press release on Monday, March 4, the Finance Ministry cautioned that approving the bill could result in significant financial consequences for Ghana. According to the Finance Ministry’s statement, Ghana stands to lose a substantial amount of World Bank ...

The Electricity Company of Ghana (ECG) has cautioned customers to refrain from making payments to specific mobile money accounts purportedly linked to ECG services. Management revealed that some individuals have been contacting customers, soliciting payments to a designated MoMo number as a prerequisite for accessing ECG services. In response, ECG released a disclaimer on Thursday, February 22, 2024, advising customers ...

Recent data from Numbeo has illuminated Ghana’s position within the intricate tapestry of Africa’s cost of living landscape, offering insights into both its regional standings and underlying economic dynamics. Ranked 20th among 24 surveyed countries, Ghana emerges as one of the nations boasting a relatively lower cost of living across the continent. However, within the West African sphere, Ghana occupies ...