Business

Revenue shortfall won’t impact growth – Ofori-Atta assures

Revenue

Finance Minister, Ken Ofori-Atta, has said government’s growth projection of 6.3 percent will be met regardless of the shortfall in revenue recorded in the first quarter of the year. The huge revenue plunge, however, was enough to force government to slash its ambitious original revenue target of GH¢44.5 billion to GH¢43.1 billion, which is about GH¢1.4 billion less of the ...

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Non-oil sector growth ‘disappointing’ – IFS

IFS Budget Review

The Institute for Fiscal Studies (IFS) has said government must do more to grow the non-oil sector of the economy, which has remained subdued, after oil production from the Jubilee and TEN fields boosted growth to 6.6 percent in the first quarter of the year. Oil production within the period under review increased by 58.9 percent year-on-year, whilst the non-oil ...

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Why Bank of Ghana May Cut Key Rate

Bank of Ghana

Bank of Ghana may cut its key interest rate for a third straight meeting with inflation at its slowest in four years and a strengthening currency. Consumer-price growth has tumbled 7.1 percentage points since reaching an all-time high of 19.2 percent in March last year. While the cedi weakened to a record low against the dollar on March 2, it ...

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NPRA wants urgent unification of pension schemes

Pension Schemes

The National Pensions Regulatory Authority (NPRA) has urged government to, as matter of urgency, rope all individual pension schemes in the public sector under the three-tier pension scheme. The CEO of the pensions regulator, Hayford Attah Krufi, told the B&FT that although the National Pension Act (Act 766), passed in 2008, stipulates that all parallel pension schemes be unified and ...

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PBC Seeks Guarantee to Cut Finance Costs

PBC

PBC Ltd., the biggest buyer of cocoa beans from farmers in Ghana, is seeking to cut borrowing costs by arranging its first government loan guarantee in seven years. PBC is asking for a guarantee of as much as 400 million cedis ($91 million) from the government, acting Chief Executive Officer Nana Agyenim Boateng said in an interview. It’s also hired ...

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Youth love for tech raise banking stake higher – BoG boss

banking

Ghana’s growing youthful population and their penchant for technology has raised the bar higher for banks in the country, Governor of the Central Bank, Dr Ernest Addison has said. “In the comfort of your office or home, one can now transact banking business at the press of a button via a smartphone or laptop. These changes have prompted banks to ...

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Kube Pure is transforming how Ghanaians consume coconut

Kube Pure

Starting his National Service at the Protocol Department of Parliament of Ghana in 2013, Kwasi Addai Mununkum had the scarce opportunity of moving with many highly-powered delegations. But there was one thing he observed about these people. He observed they really loved to drink fresh coconut water, but the way coconut is handled and sold was not appealing to them. ...

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Renowned Scientist Dr. Thomas Mensah Proposes High Speed Rail System for Ghana

Dr Thomas Mensah

Dr Thomas Mensah, one of the speakers at the 2017 Ghana Diaspora Homecoming Summit (DHS) held from July 5-8., 2017 at the Accra International Conference Center has called on Ghana to develop a High-speed Rail System (HRS) to link two of the nation’s important port cities; Accra and Takoradi in the South, to Tamale passing through Kumasi. President Akufo-Addo of ...

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WTO, FES regional dialogue addresses challenges in multilateral trading system in West Africa

The World Trade Organisation (WTO), in partnership with the Friedrich Ebert Stiftung (FES), held a regional dialogue on Challenges for the Multilateral Trading System in West Africa. The event which took place in Accra brought together civil society actors, business people, the media and WTO members and observers in the West African region. Participants were educated on the role of ...

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USAID study examines Impact of Trade-Related Fees and Charges in Ghana

The US Ambassador to Ghana Robert P. Jackson has launched “The Cost of Trading in Ghana,” a new study on the impact of trade-related fees and charges. United States Agency for International Development (USAID) conducted the study on behalf of the National Trade Facilitation Committee, according to a press release from the US Embassy in Ghana. The study was launched ...

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