BUSINESS

Coordinator of Projects at the One District-One Factory Secretariat, Gifty Ohene Konadu, has stated that government is not reneging on its promise to ensure the establishment of one factory in each district. According to her, some three agro-processing factories are ready for sod cutting. The factories are Amantin Agro Processing Plant, Asikess Ventures Limited and Adaklu Agro Processing Plant. Speaking ...

Government has a slim chance of achieving its 2019 deficit target of three per cent, the Economist Intelligence Unit (EIU) in the UK has projected. The EIU’s recent report indicated that: “Overall, although we do expect fiscal consolidation in 2018-19, the government’s medium-term projection of a deficit equivalent to 3% of GDP in 2019 (from almost 8% under the NDC ...

Prices of fuel at the pumps have shot up by 4%, according to the Chamber of Petroleum Consumers – Ghana. “Fuel prices that used to trade at Ghc4.490/litre for both petrol and diesel have seen an increase to 4.670 a difference of about 18p or some 4.008% increases, price per gallon per the new increases is now Ghc21.015 from the ...

Government has downplayed a gloomy projection by the Economist Intelligence Unit (EIU) the local currency, the cedi may hit GH¢6 to a dollar by 2022. Deputy Information Minister Kojo Oppong Nkrumah says the administration is unfazed by the report because some measures have been put in place to avert such an occurrence. He told Joy News Wednesday, the EIU report ...

Newmont Mining Corporation (NYSE: NEM) has said its President and Chief Executive Officer, Gary J. Goldberg, has been honoured by his peers for outstanding contributions to the mining industry through his induction into the American Mining Hall of Fame. The award honours Mr. Goldberg’s accomplishments over the course of his 36-year career in mining, characterising his service as: “Always the ...

The Public Utility Workers Union (PUWU) has urged government to be cautious in the proposed reduction in electricity tariffs. Government in its 2018 budget announced that it will reduce electricity tariffs to bring relief to businesses and domestic users of electricity. PUWU is however, seeking clarity on how power producing companies will cater for the cost implication of the reduction. ...

The Ghana cedi is projected to hit 6 cedis to a dollar by 2022. This is the prediction of the Economist Intelligence Unit, a specialist publisher in the UK. The Economist Intelligent Unit, which has operated for about 60 years also warned that the local currency may suffer some external pressures that may cause the cedi to depreciate by next ...

The Government of Ghana has said it is confident the cedi will perform better in the years ahead against major trading currencies, especially the U.S. dollar. As such, it is most unlikely that a dollar will hit GHS6 by 2022 as projected by the Economist Intelligence Unit (EIU) in the UK. The EIU report cited prospective tighter monetary policy in ...

For bond investors, Africa was a happy hunting ground last year. Its local-currency and dollar securities easily outperformed those of emerging markets overall as investors piled into a continent offering high yields and starting to recover from the commodity bust of three years ago. But risks abound, among them policy tightening in advanced economies, local and global politics, weakening currencies ...

Yes, I actually wrote that. Working in or around finance in Ghana requires learning forex markets. You must read Bank of Ghana reports, watch trade flows, foreign fiscal and monetary policy. Because you never know what’s going to happen with the Ghana Cedi – but right now I’m concerned about the US Dollar. The experts say its going down: “The ...