BUSINESS

Africa’s economy just like the rest of the world has continued to lag behind due to the ongoing Covid-19 pandemic. Some currencies within the continent have also grown weaker compared to the US dollar or the pound. Poor living standards and a dwindling national economy have been the major contributing factors to the crippling currencies. The US currency has been ...

The opposition National Democratic Congress (NDC) has accused the Akufo-Addo of mismanaging the Ghanaian economy. Delivering a lecture at the party’s ‘policy dialogue on the economy’ Monday, Ranking Member on the Finance Committee of Parliament Dr. Cassiel Ato Forson said political considerations are making it difficult for government to take remedia measures to save the economy. “It is now beyond ...

The Ministry of Trade and Industry and its Transaction Advisor, Price Waterhouse Coopers are concluding the Conditions Precedent to activate the Concession Agreement, a strategic investor for the Komenda Sugar Factory. The sector Minister, Alan Kyerematen said the conclusion of the agreement with the Strategic Investor, Park Agrotech Limited would enable them to commence operations at the factory. Mr Kyerematen ...

CONSTRUCTION WORKS on the Kumasi International Airport has reached 85 per cent, it has been announced. The Ashanti Regional Minister, Simon Osei Mensah, made the announcement when he toured the construction site on Thursday. According to the minister, contractors on site informed him that “the construction work is 85 per cent complete now,” and he told them to complete the ...

THE GHANA Union of Traders’ Association (GUTA) has expressed its dissatisfaction over alleged attempts by Parliament to review the Ghana Investment Promotion Centre (GIPC) Act 2013 (Act 865) to exempt Nigerian retailers from paying a $1 million capital requirement under the Act to facilitate trade in Ghana. This Act, if reviewed and consequently passed, would enable Nigeria traders to ply ...

Ghana’s public debt stock has risen to GHS332.4. The debt, which was GHS304.6 billion as of the end of the first quarter in 2021, shot up by GHS30 billion in April and May, according to data released by the Bank of Ghana. This translates into a debt-to-Gross Domestic Product (GDP) ratio of 76.6%. It is marginally higher than the debt-to-GDP ...

The Secretary-General of the African Continental Free Trade Area (AfCFTA) Secretariat Wamkele Mene has arrived in Abidjan, Cote d’Ivoire to begin a four-day working visit upon the invitation of the President of Cote d’Ivoire Alassane Ouattara. This is the Secretary-General’s first official visit to Cote d’Ivoire and he is expected to hold talks with a number of government officials and ...

Ghana will end the year 2021 with an overall GDP of between 3.9% and 4.9%, Databank Research has said. “We expect the increased utilisation of spare production capacity to sustain the recovery in the manufacturing and trade sub-sectors”, the report said, adding: “We, however, view the rising cost of production occasioned by the tax hikes, transport fare hikes, and higher ...

Secretary-General of the African Continental Free Trade Area (AfCFTA) Secretariat Wamkele Mene has called on African leaders to re-double their resolve to forge ahead with economic integration of the continent. According to the Secretary-General much work remains ahead in the implementation of the AfCFTA. To date, 54 countries have signed the free trade agreement and 40 countries have ratified it, ...

Director of Business Operations at Dalex Finance, Joe Jackson has warned that the third wave of Coivd-19 will be devastating to Ghana’s economy particularly, the service’s sector. According to Mr. Jackson, a third wave will also have a negative effect on the country’s economic recovery. His caution comes at a time Ghana is recording a high number of active cases ...