Business Archives - Page 382 of 390

12 May

Bawumia Donates 100 Laptops To UGBS

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The Vice President, Dr. Mahamudu Bawumia, has presented 100 laptops to the University of Ghana Business School (UGBS). The donation was in fulfillment of a pledge Dr. Bawumia made to the UGBS earlier in the year to support the School’s One Student, One Laptop initiative announced by the Vice Chancellor of the University of Ghana, to advance digitisation on campus. Presenting the 100 laptops during the launch of the 60th anniversary celebration of the UGBS on Wednesday, May 11, Dr. Bawumia said he was touched and inspired by the bold initiative, hence his decision to donate the laptops to support the initiative.…

12 May

23.6% Inflation Rate At A Time Businesses Are Collapsing Not Good News – GUTA

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The Ghana Union of Traders Association (GUTA) has expressed concerns about the increasing rate of inflation in Ghana. President of GUTA, Dr. Joseph Obeng said the rising inflation will definitely have a negative impact on businesses in the country. The Ghana Statistical Service (GSS) announced on Wednesday May 11 that the national year-on-year inflation rate was 23.6% in April 2022, which is 4.2 percentage points higher than the 19.4% recorded in March 2022. The month-on-month inflation between March 2022 and April 2022 was 5.1%, the GSS said on Wednesday May 12. Four Divisions, Transport, Household equipment and Routine Maintenance, Food and Non-Alcoholic Beverages, and Housing, Water,…

12 May

Utility Tariff Adjustment Must Favour Industries, Sustain Business Growth – GNCCI

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As the Public Utilities Regulatory Commission (PURC) engages stakeholders on electricity tariff adjustment in the face of current economic challenges, the Ghana National Chamber of Commerce and Industry (GNCCI) says any adjustment must favour industries. According to the GNCCI, further increases, particularly in energy cost, will be detrimental to the private sector. The GNCCI notes that the PURC must consider cushioning the business community with a comparatively lower tariff that is reflected in the production capacity of manufacturing and key service sectors. Already, businesses are recovering from the impact of the pandemic in addition to rising cost of doing business.…

11 May

Government To Invest Heavily In Internet Safety – Ursula Pledges

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Government is keen on ensuring that the digital economy is safeguarded for younger ones and promoting more investment in the country. To this end, there will be more investment through education campaigns with faith-based organisations on internet safety in both urban and rural communities in all 16 regions. Minister for Communications and Digitalization, Ursula Owusu-Ekuful made the disclosure in a keynote speech to climax the Bono regional Girls in ICT programme in Sunyani. According to her, the theme for this year’s programme, ‘Access and Safety’ is an indication of the attention that government is giving to digital safety since the…

11 May

Telcos Pledge ‘Handsome Reward’ For Information On Persons Stealing Cell Site Equipment

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Ghana’s Mobile Industry is offering a very handsome reward to anyone with information that may lead to the arrest of culprits responsible for the recurrent telecommunication equipment thefts at cell sites throughout the country. Additional amounts would be given to whistle-blowers when the culprit is prosecuted and jailed. The telecommunications industry has been experiencing theft of fuel, batteries, copper cables, conductors and other passive infrastructure for some time now. There have been some interventions put in place to address this, with some limited success. However, there has been a new phenomenon in addition to the theft of passive equipment. Stealing…

11 May

Gov’t To Launch National Airline To Benefit From AfCFTA – Hassan Tampuli

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Since 2017, government has made clear its intentions to establish a national carrier following the collapse of Ghana Airways and Ghana international Airline. The government believes this will not only build the aviation sector in the country, but create opportunities for Ghana to benefit from the Africa Continental Free Trade Area. Outlining several works being done to prove Ghana’s transportation systems at the Africa forum organized by the Chartered Institute of Logistics and Transport in Accra, Deputy Transport Minister, Hassan Tampuli, stressed on the importance of a new airline for the growth of the country’s economy via the Africa Continental…

10 May

Association Of Ghana Industries Pushes For Discounts On Imports Of Raw Materials

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The Association of Ghana Industries (AGI) is pushing for a special discount on imports of raw materials to make producers more competitive in the country. According to the Association, the move is aimed at helping government build a strong manufacturing sector and aid manufacturers thrive under the African Continental Free Trade Area. The Chief Executive Officer of the Association of Ghana Industries, Seth Twum-Akwaboah, who made the appeal during a sensitisation workshop organised by the AGI and the Ghana Revenue Authority (GRA), said the critical attention needs to be given to the manufacturing sector to grow to support the government’s…

10 May

ECG Proposes 148% Increase In Electricity Tariff For 2022

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The Electricity Company of Ghana wants tariffs to be increased by 148% for 2022 and with 7.6% average adjustments between the periods of 2023 to 2026. The sharp proposed increment, according to ECG, is due to the gap between the actual cost recovery tariff and PURC-approved tariffs as well as the cost of completed projects. In a similar fashion, the Ghana Water Company is also proposing an increment in its tariffs to be able to at least recover its costs. These are contained in tariff proposals presented to the Public Utilities Regulatory Commission by the two companies. In the report,…

10 May

BoG Reiterates Calls For Public To Report Unapproved Banking Charges

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The Bank of Ghana is tasking customers to report to the Central Bank any suspicious or unapproved charges from their financial institutions. In June 2021, the Bank of Ghana warned commercial banks and specialised deposit-taking institutions (SDIs) in Ghana to abolish unfair charges in the banking sector. In a statement, the Bank of Ghana noted that there are seven charges being implemented by banks and SDI’s which are deemed to be unfair, inappropriate and detrimental to the financial inclusion agenda and the protection of customers’ interest. These charges included Credit Insurance Premium Overcharges, Maintenance fees on Savings Account, Over the…

10 May

CUTS International Justifies Calls For Review Of Utility Tariffs

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Think tank, Consumer Unity and Trust Society (CUTS) International, has backed the push for a review of utility tariffs by the Electricity Company of Ghana and the Ghana Water Company Limited. The Think Tank, however, maintains that there is the need to speedily address the inefficiencies within the system to make the companies sustainable. CUTS call comes after the Electricity Company of Ghana, proposed a 148% jump in tariffs. The sharp proposed increment, according to ECG, is due to the gap between the actual cost recovery tariff and the PURC-approved tariffs as well as the cost of completed projects. West…