The Deen , school of Graduate studies at the University of professional studies, Accra( UPSA), Professor John Kwaku Mensah Mawutor, has explained that an economy on the strength of it’s currency. He added that, managers of Ghanaians economy since 1993, have failed to tackle the fundamental problem affecting the economy which is over reliance on...
Category: Business
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Recall contract with South African company for railroad workers
The Ghana Railway Company Limited’s decision to enter a $3.2 billion loan deal with Thelo DB Railway of South Africa in order to restructure the business has the approval of the Ghana Railway Worker’s Union. The union had previously voiced concerns about the deal, charging that their employer had neglected to include them in the...
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Global oil prices fall, but transportation costs unchanged
Since January, crude oil prices have fallen to a six-month low. At the height of the Russia-Ukraine war, oil prices skyrocketed to over $120 per barrel. On the world market in July, oil was $102, compared to a significant drop to $87 as of Wednesday, August 17, 2022. Despite this development in the world oil...
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BOG to increase policy rate at emergency MPC MEETING to attract investors – Prof Quartey predicts.
Professor peter Quartey , Director of Institute of statistical, social and Economic Research (ISSER) of Ghana (BoG) is likely to increase the policy rate of 19% at it’s emergency meeting today Wednesday, August 17. He said, both Foreign and local investors will be attracted to do business in the local economy if that should happen....
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Ghana’s public finances are deteriorating – Fitch
Fitch has noted that Ghana’s public finances are worsening. The international credit rating agency said this is attributed to the downgrade of the economy to ‘CCC’ from ‘B-. “The downgrade reflects deterioration of Ghana’s public finances, which has contributed to a prolonged lack of access to Eurobond markets, in turn leading to a significant decline...
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Cement prices expected to go up
Cement prices are expected to be increased from next week. The price of a 50-kilogram bag is expected to increase from ¢59.00 ¢68.00. The increment is necessitated by a sudden rise in the cost of operations, from July 2022, as a result of a sharp depreciation of the cedi over the past month. According to...
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Ghana to host largest international petroleum conference
West Africa industry leaders, experts, and decision makers in the petroleum downstream industry are gearing up for what is anticipated to be the largest Ghana International Petroleum Conference (GhipCon) yet as organizers reveal another milestone for the West Africa’s most influential oil and gas event. The conference which is been organized by the National Petroleum...
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Nduom calls for a ban on foreign foods at state functions
The bankroller of the Progressive People’s Party (PPP), Dr Paa Kwesi Nduom has called for the protection of locally manufactured food items in the country. According to the failed presidential aspirant, there is a need for the government to take a look at placing a ban on many of the imported food items that have...
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Inflation could be harder to bring down than anticipated due to war in Ukraine – World Bank
The World Bank has said that in 2023, disinflationary monetary policy is expected to bite, with global output growing by just 2.9 percent. The risks to the outlook are overwhelmingly tilted to the downside, the World Bank said. It added that the war in Ukraine could lead to a sudden stop of European gas imports...
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COPEC PREDICTS A FALL IN FUEL PRICE
Prices of petroleum products are expected to go down between 3% and 6% from August 1st, 2022. The Chamber of Petroleum Consumers (COPEC), says the reduction would have been bigger if not for the depreciation of the cedi against the U.S dollar. This reduction in fuel prices will be the second consecutive time since oil...