Business

Reducing cost of doing business: Minister unveils action plan

New and existing businesses seeking documentation for their operations should be able to do so within a relatively shorter period effective end of this month. It follows the implementation of a rapid reform action plan towards reducing the duration of registration and cost of doing business in Ghana. The new agenda being pursued by the government together with the private ...

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Unilever targets healthy growth and revenue in 2017

Unilever

The management of Unilever Ghana Ltd says it is confident of good performance in 2017 which would return the company to healthy growth in both revenue and profit. This, the company said, would be achieved through expansion of outlets and other alternative channels to get closer to consumers. “We are happy to report that we closed the year 2016 with ...

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Ghana’s honey industry gets boost with first honey-based drink

Honey Industry

Last week witnessed a major paradigm shift in Ghana’s local honey industry as the demand for the commodity has now moved into a commercial drive. Over the years, Ghana’s local honey industry has received little attention from government, policy makers and investors despite it’s enormous economic and health benefits. The local honey and bee farmers have been crying out loud ...

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Banks must respond to policy rate cut—GCCI

GCCI policy rate

The Ghana Chamber of Commerce and Industry (GCCI) has called on banks to reduce their lending rates to reflect the recent cut in the Bank of Ghana’s policy rate. The Monetary Policy Committee (MPC) of the Bank of Ghana, on Monday, reduced its policy rate by 100 basis points to bring the policy rate down to 22.5 percent. The GCCI, ...

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Ursula urges Chinese investors in One District One Factory

chinese investors

The Minister of Communications, Mrs Ursula Owusu-Ekuful, has invited Chinese investors in the information and communications technology (ICT) industry to take advantage of the government’s one-district, one-factory policy to invest in that area. She acknowledged that most of the consumer goods on the market today were manufactured in China, saying: “When it comes to consumer goods, if you look at ...

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Trade Ministry buys Kantanka vehicles

The Ministry of Trade and Industry has taken the first step to purchasing the ‘Kantaka SUV Car’ at a cost of GHȼ150,000.00. Mr Alan Kyeremanten, the Sector Minister, receiving the vehicle at a ceremony in Accra, said the initiative was to encourage Ghanaians to buy made in Ghana products to boost local production. Mr Kyeremanten said the gesture was part ...

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Debt levels decline to 62% of GDP

GDP

The Finance Minister, Ken Ofori-Atta, has disclosed that the country’s debt, as a percentage of GDP, has declined from the 73 percent recorded last year to about 62.7 percent as at end of last month. The 2017 budget forecasts that total debt to GDP will close the year at 70.9, which makes the latest figure, less than half way into ...

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Inflation goes up by 13% in April

inflation for April

Ghana’s inflation for the month of April 2017 hit 13 percent. The figure went up by 1.6 percent from the 12.8 percent recorded in March this year. According to the Ghana Statistical Service (GSS), inflation for food items was 6.7 percent. Meanwhile, inflation for non-food items such as transport and utility went up by 16.3 percent in April 2017. The ...

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CHRAJ directs Finance Minister to respond to $2.25 bond petition

GDP

The Commission on Human Rights and Administrative Justice (CHRAJ) has directed the Minister of Finance, Mr Ken Ofori-Atta, to respond to allegations of breaching the 1992 Constitution within 10 days. The allegations were made against him by Mr Yaw Brogya Genfi last week, in a complaint to CHRAJ by which he petitioned the commission to investigate the matter. In his ...

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WAPCo rules out pressure on gas supplies over FPSO shut down

VRA owes WAPco

The West African Gas pipeline Company Limited (WAPCo) has assured that the temporary shutdown of FPSO Kwame Nkrumah by Tullow will not put pressure on gas that will be required to be transported to the Volta River Authority (VRA). According to WAPCO, various measures have been put in place to avert possible debts when Tullow shuts down its operations temporarily. ...

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