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...
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...
The newly launched Office of the Registrar of Companies (ORC) is set to delete close to 500,000 companies from its database for not renewing their existence following the expiration of their registration, the Registrar of Companies, Jemima M. Oware, disclosed. The exercise, Ms. Oware explained, would encourage good corporate governance, as well as reduce the...
African Development Bank Group’s Board of Directors has approved 24, fast-track programs to help Africa mitigate rising food prices and inflation caused by Russia’s war in Ukraine, climate change, and the Covid-19 pandemic. The first round of approvals is part of the Bank’s $1.5 billion African Emergency Food Production Facility, established in May to boost...
The Ghana Oil Company Limited (GOIL) has said it is not running any fuel subsidy promotion. The company has, therefore, urged the general public to disregard any fuel subsidy promotion scheme with a link being circulated on social media. A statement issued by the Company on Wednesday, 20 July 2022, said: “The promotion encourages unsuspecting...
In a bid to solve the incessant pollution of water-bodies by illegal mining activities, also known as ‘galamsey’, government says in the coming days it will introduce the use of speed-boats and river guards to clamp down on the perpetrators of such activities. River-bodies have been officially declared ‘Red Zones’ for mining, and authorities have...
Mrs. Owusu-Ekuful, who was speaking at the inauguration of the Joint Cybersecurity Committee (JCC) on Thursday, July 14, 2022, added: “In order to achieve a secure and resilient digital economy, each one of us will have to play our part.” The joint cybersecurity committee Addressing members of the 18-member committee which was set up pursuant...
Four major factors, namely, impact of COVID-19 pandemic, the banking sector clean-up, excess capacity charges, and the effect of the Russia-Ukraine war, drove Ghana to seek assistance from the International Monetary Fund (IMF) to correct its fiscals, Vice President Dr. Mahamudu Bawumia has said. According to the Vice President, direct COVID-19 expenditure in two years, 2020 and...
To ensure the quality of petroleum products sold at the pumps is not compromised, players in the oil and gas services sector are demanding the strict enforcement of standards and protocols across the value chain. The National Petroleum Authority was established by law to regulate the petroleum downstream industry in Ghana and Benjamin Armstrong, the...
The Chief Executive Officer of the Ghana Chamber of Telecommunications, Dr. Ing. Kenneth Ashigbey, has backed calls for transparency in the manner in which funds accrued from the Electronic Transfer Levy (E-Levy) are used. One of the sources the government was hoping would help it raise much-needed revenue is the E-Levy, but information from government’s...