Category: Business

In the last 5 months, the Central Bank has constantly increased interest rate from 14.5% to 19% as means of managing high inflation rate. The May 2022 rate (19%) was the second consecutive rate increase this year, raising borrowing costs to their highest level since February 2018. It can be recalled that, Government Statistician, Professor...

A consortium of nine banks is collaborating with government to provide credit to existing youth-led companies and, in the process, create one million jobs in the next three years. Under the commercial programme of the YouStart initiative, the government will provide support for existing youth-led businesses with between ¢100,000 working capital and ¢500,000 for those...

Ghana has been ranked 1st in West Africa and 2nd in Sub Saharan Africa by Fitch Solutions, research arm of ratings agency Fitch, as the best destination for investments and trade. With a Trade and Investment Risk score of 50.9%, the country outperformed the West Africa average of 36.4%. The country also placed 88th out...

The Producer Price Inflation (PPI) rate for April 2022 was 31.2 percent, the Ghana Statistical Service (GSS) has announced on Wednesday May 18. This rate indicates that between April 2021 and April 2022 (year-on-year), the PPI increased by 31.2 percent. The rate, the GSS said, represents a 1.9 percentage point increase in producer inflation relative to the rate recorded in...

Workers who receive their salaries through mobile money platforms may have to brace themselves. This is because a portion of their money is expected to be affected by the recently passed E-Levy. According to the Ghana Revenue Authority (GRA), the manner in which the controversial law was crafted makes it imperative that the tax is...

The Importers and Exporters Association of Ghana(IEAG) is unhappy with the passage of the electronic levy (E-levy) emphasizing that the Timing was not the best. Times are tough as the rate of goods and services kept boosting in the country and the typical Ghanaians complained of the difficulties in making a living. Mr Samson Awingobi...

The minister in charge of finance, Mr Ken Ofori-Atta, will later this week brief Ghanaians on the measure the government seeks to implement to address recent economic challenges. In a statement issued on Monday, 21 March 2022, the minister for information, Kojo Oppong Nkrumah disclosed that the cabinet at its retreat at Peduase Lodge in...

The Institute of Economic Affairs (IEA) is urging government to retreat from going to the International Monetary Fund for economic support. In a statement released on Friday the IEA alluded to measures that government can adopt to restore economic sanity of the country. “I suggest below measures that I believe government and Bank of Ghana...

The chief financial officer of Valley View university, Dr Williams Peprah says the Central Bank’s base lending rate since 2021 has been higher than the inflation rate. In February, the inflation rate was 15.7% before the Bank forecasted on 21st March that the Central Bank’s lending will range within 15.8% and 19.2% According to Dr...