Business Archives - Page 378 of 390

07 Jun

Ghana To Lose Out On AfCFTA Gains Due To High Cost Of Doing Business- AGI

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As the cost of doing business continues to rise in the country, the Association of Ghana Industries (AGI), is cautioning that Ghana could miss out on the expected benefits from the much-touted African Continental Free Trade Area (AfCFTA). Data from the Ghana Statistical Service shows that the year-on-year producer price inflation which measures the average change in the prices of goods and services received by domestic producers for their production activities increased to 31.2%. A closer look at the data shows that in April 2021, the producer price inflation rate for all industries was 10.9 %. The rate increased to…

07 Jun

BA Cuts Flights On Accra-London-Accra Rout To 5 From 7 Per Week Due To Lack Of Staff

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British Airways has confirmed a cut down in the number of flights on its Accra-London-Accra route from 7 per week to 5 per week. This is according to sources within the travelling environment in the country. According to communication cited by Citi Business News between British Airways and its agent partners, the move by the Airline forms part of efforts to provide certainty for its customers. Per the airline, the reduction in its schedule to Ghana and other parts of the world will cover the summer period. In Ghana, the cut in the flight schedule on the Accra-London-Accra route is…

06 Jun

Partner With The Private Sector To Develop The Local Economy- Vice President Urges MMDAs

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The Vice-President of Ghana, Dr. Mahamudu Bawumia has urged the Metropolitan Municipal and District Assemblies (MMDAs) to partner with the private sector to develop the local economy. He said "This is to move the MMDAs from provision of essential services to promotion of enabling environment for the private sector to partner with local authorities to develop and sustain businesses, create jobs and reduce poverty through mobilization of local, natural and human resources as well as value addition". The Vice-President made these remarks at the 21st Biennial National Delegates Conference of the National Association of Local Authorities of Ghana (NALAG) held…

03 Jun

Economic Challenges Not Peculiar To Ghana Alone- Economist In UK (VIDEO)

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An Economist and Financial Analyst in the United Kingdom (UK), Redmon Thompson Kortey, has said that Ghana is not the only nation going through economic challenges in recent times. Speaking to Kwaku Dawuro on the Movement In The Morning Political Show on Friday, June 3, 2022, Mr. Kortey noted that Ghana is not the only country faced with extraordinary increases in global freight rates, hike in fuel prices, and increase in taxes among others. According to him, the challenges facing the country are not peculiar to Ghana as many other nations across the globe are going through same. "These are…

03 Jun

AMA Locks Shops In Accra With Unclean Frontages; Owners To Be Put Before Court

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The Accra Metropolitan Assembly (AMA) has locked up some shops in the Central Business District (CBD) with unclean surroundings, frontages and drain abut their premise. The shops were locked on Tuesday following a directive by the Mayor of the City of Accra, Hon Elizabeth Kwatsoe Tawiah Sackey when she paid a working visit to Gamashie, Kantamanto, Makola, June 4th, and Agbogbloshie markets. Public Health officials of the AMA were also directed to issue summons to the shop owners to appear before the court for failing to keep their frontages clean contrary to the Assembly’s bye-laws on sanitation. According to the AMA Sanitation…

03 Jun

We Won’t Extend Sim Card Registration Deadline – Ursula Owusu-Ekuful Declares

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The Minister of Communication, Ursula Owusu-Ekuful has declared that the government won’t extend the current deadline for the sim card registrations. She said the directive to flush out all unregistered sims will be in full effect after the deadline passes by the end of July. Mrs Owusu-Ekuful said this during the climax of the Ahafo Regional celebration of the Girls-in-ICT Initiative held at Acherensua in the Asutifi South District on the theme “Access and safety.” Mrs Owusu-Ekuful said mobile phone subscribers and users in the country had been provided with enough time and opportunity to register their SIM cards saying,…

02 Jun

VP Bawumia Commissions $50m Bulk Power Supply Point at Kasoa

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The Vice President, Dr. Mahamudu Bawumia, has inaugurated a $50 million Bulk Power Supply Point at Kasoa in the Central Region on Wednesday June 1, 2022. The 435 MVA project, funded by the Millennium Development Authority (MiDA) under the Ghana Power Compact Agreement with the Government of the USA, is the second largest bulk power supply under the agreement after the Pokoase Bulk Power Supply. The substation, will serve the fast-growing Kasoa municipality, as well as to Winneba and nearby communities. Speaking at the inauguration, Dr. Bawumia said, the project, which started two and a half years ago, will significantly…

01 Jun

Invest, List On Local Stock Exchanges – VP Bawumia To Mining Companies

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The Vice President, Dr Mahamudu Bawumia, has challenged mining companies operating in Ghana and the entire West African sub-region to work with Governments and regulatory bodies to establish a mining index on local Stock Exchanges to allow both the owners and investors in the minerals to benefit from its exploitation. The benefits of a mining index on the local bourse are enormous, enabling both the State, Mining Companies, beneficiary communities and investors to attract the necessary capital and built in incentives for all involved, Dr Bawumia indicated. Speaking at the opening session of the three-day West African Mining and Power…

01 Jun

Build Up Your Gold, Other Reserves To Withstand Economic Shocks – VP Bawumia To African Central Banks

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African Central Banks have been urged to partner with the mining sector and build up their gold reserves in order to withstand the headwinds buffeting their economies in the wake of the Covid 19 pandemic and the Russia-Ukraine conflict. Vice President Mahamudu Bawumia, who made the call on Wednesday, 1st June 2022, said the aftermath of these two challenges will result in a redefinition of the global economic architecture due to disruptions in supply chains and drastically reduced access to essential items. This calls for greater self-reliance, from producing own medicines to enhancing agriculture production. But the greatest emphasis should…

01 Jun

Vendors Bemoan Negative Impact Of E-Levy After 1st Month Of Implementation

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After a month of implementation of the Electronic Transfer Levy (E-Levy), mobile money agents and users of the platform in Accra continue to bemoan its impact on their lives. Checks by Citi Business news show that while some are trying to find ways around the payment of the levy others are hoping things take a turn for the better. The implementation of the 1.5% E-Levy which started on Sunday, May 1, 2022, was done in a modified manner by the implementing agency, the Ghana Revenue Authority (GRA) in collaboration with the Telecom companies, and began despite a legal action filed…