Economy

Ghana’s economy to grow by 6.5% – not 7.6% – in 2019 – EIU

The Economist Intelligence Unit (EIU) has said, with consumer demand remaining robust during the year, helped by the lower cost of credit, it projects Ghana’s GDP to reach 6.5% in 2019. This projection is about 1.1% less than the government has projected to grow the GDP this year. The 2019 Budget presented by the Finance Minister, Ken Ofori Atta, proposes ...

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Inflation drops to 6-yr low

Consumer Price

The general prices of goods and services in the country fell by 0.4 percentage points to 9 percent, the lowest ever recorded since January 2013 when the rate hit 8.8 percent – making a strong case for the Bank of Ghana to further cut its policy rate. The fall, according to the statistical service, can be attributed to a decline ...

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More local investors show interest in economy

GIPC - local investors

In spite of capital formation challenges, more home-grown investors are taking up investment opportunities in the economy, the Ghana Investment Promotion Centre (GIPC) has said. GIPC, the agency entrusted with making the country sellable, said lately it has seen a rise in the number of Ghanaians knocking at its door for opportunities. It said indigenous investors, just like foreign ones, ...

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LETTER TO MY SON…”THE CROWN & THE CLOWN

son

Dear Son, I don’t know how you would meet this letter; as a child full of wonders, a teenager full of curiosity and opinions or as a man with women at your feet. All I know is you would meet it with a clenched fist, ready to fight on. Son, I chose this day to write to you because we ...

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No one will be shielded …Prez declares on collapse of 7 banks

President Nana Addo Dankwa Akufo-Addo has said that government will not shield anyone found to have played a role in the collapse of the seven local banks. The President, speaking at the opening of the new head office complex of Standard Chartered Bank in Accra, bemoaned the cost of rescuing the seven banks to the tax payer adding that the ...

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Nduom begins national campaign tour against panic withdrawals

The Chairman of GN Bank, Dr. Papa Kwesi Nduom has begun a nationwide tour aimed at appreciating customers who have remained loyal to the country’s indigenous banks. Themed, “Stop the panic withdrawals and strengthen indigenous banks”, Dr Nduom will use the opportunity to urge the population in general to avoid panic bank withdrawals as it may negatively affect the operations ...

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Facebook admits it ‘made mistakes’ after top exec appeared at Kavanaugh hearing

Facebook has admitted it “made mistakes” after a top executive was seen attending Judge Brett Kavanaugh’s congressional hearing, reportedly prompting outrage from employees. Joel Kaplan, the head of global policy at Facebook and a long-time friend of Judge Kavanaugh sat two rows behind the nominee as he testified regarding allegations that he sexually assaulted Christine Blasey Ford while in high school. Employees saw ...

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US markets have a trade war edge over China: Commodities

With the American markets on a tear and Chinese shares on a downturn, it appears that U.S. stocks are weathering the escalating trade war far better than China’s. One reason for the trend is due to Chinese markets’ exposure to non-energy commodities, according to a study published in August by Axioma, a risk and performance analytics provider. “The tariff spat caught China more exposed to changes in broad non-energy ...

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3 ‘big’ economies slow down growth in sub-Saharan Africa

The World Bank has described growth in sub-Saharan Africa as very slow in the October edition of the Bank’s biannual report dubbed, Africa’s Pulse. The region recorded a growth of 2.7 percent, in 2018 which is a 0.4 percent rise from the 2.3 percent recorded in 2017. The Bank has attributed the marginal growth to the sluggish expansion in the ...

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