BUSINESS

Inflation returns to single digit of 8.5% in April 2021

Inflation returned to single digit as it remarkably fell to 8.5% in April 2021, from the 10.5% recorded in March 2021, figures from the Ghana Statistical Service have revealed. It is the first single digit rate recorded in the year, following the ravaging effects of covid-19 on the economy. This …

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Meat imports collapsing business of local traders

  The Ashaiman Main Market Butchers Association has decried the importation of meat products into Ghana, arguing that the situation is crippling their business activities. They fear losing their business for the reason that about 80% of their customers preferred cheap imported meat to fresh ones on the local market. …

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Ibrahim Mahama commended by Alan Kyerematen over Dzata Cement

  Trade and Industry Minister, Alan Kyerematen, has commended Ibrahim Mahama, Founder of Dzata Cement Limited, for investing heavily in the cement industry. The over US$100 million investment is located on a 10-acre land near the Tema Port. Mr Kyerematen made the commendation when he paid a working visit to the plant …

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Cement price hike due to production cost – Manufacturers

    The Chamber of Cement Manufacturers Ghana has indicated that the high cost of cement is a result of the high cost of production, unfair trade practices, low utilisation of cement products, and unfair competition. The Chamber believes the pressure caused by the COVID-19 pandemic is also a major factor. Ghana …

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National Development Bank set take off in July – Finance Minister

  The National Development Bank (NDB) will begin its operations by end of July this year, the Finance Minister, Ken Ofori-Atta has said. The Bank, according to him, would provide long term wholesale financing to the private sector through Commercial banks. The Minister said this at a press briefing on Sunday to …

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Students of Takoradi Technical University reject certificate

  Some students of the Takoradi Technical University (TTU) have rejected the Bachelor of Technology in Mechanical Engineering certificates issued to them by the university upon completion of the programme in 2020. They argued that before they enrolled for the course in August 2018, the authorities of TTU told them …

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IMF backs tax increments to save Africa from debt distress

The International Monetary Fund (IMF) has backed African governments to use tax increments as a means of raising more revenue in order to reduce borrowing as they continue to fight the deadly pandemic. This comes on the back of the Regional Economic Outlook report – April 2021 (published by IMF), …

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SEC pays GH¢1.7 billion of investors locked up cash

  The Securities and Exchange Commission (SEC) has paid a total of GH¢1.76 billion (GH¢1,762,767,250.32) to investors who applied for both full and partial bailout programmes as of March 31, 2021. A total of 59,180 investors received the amount. It comprises GH¢994.5 million (GH¢994,502,710.52) paid to 52,264 investors under the …

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Fuel margins reduced to 9 pesewas

  The 17 pesewas per litre increase in fuel margins as announced weeks ago by the National Petroleum Authority (NPA) has been reduced. Effective Wednesday, May 5, 2021 prices of petroleum products at various pumps will witness a decrease of 9 pesewas per litre. A communique sighted by GhanaWeb said, this decision …

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Methodist Church rejects GES directive to allow Muslims fast

The Methodist Church of Ghana has rejected a directive by the Ghana Education Service to allow Muslim students at the Wesley Girls’ Senior High School to fast during Ramadan. The GES directive followed a decision by the Headmistress of Wesley Girls’ High School not to allow Muslim students at the …

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Expect 40% increment in transport fares – True Drivers Union

 transport fares True Drivers Union has served notice of a 40 percent increment in transport fares soon. This according to the Union is in response to the impact of the upward review of Petroleum prices by government. Petroleum consumers are expected to pay more for fuel at the pumps, following …

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Government to establish Mental Health Fund – Health Minister

  Government is working towards the establishment of a mental health fund to be financed from the mental health levy, Kwaku Agyemang Manu, the Minister of Health, has said. According to him, the fund when established, would help in the successful implementation of the new mental health policy. Mr Agyemang …

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High cost of production killing manufacturing industry – GUTA

  The Public Relations Officer (PRO) of the Ghana Union of Traders’ Association (GUTA), Joseph Paddy has shared that it is quite expensive to run a manufacturing business in Ghana. According to him, this high cost of doing business makes it unattractive for Ghanaians to operate manufacturing industries and create …

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U/W: St. Mary Immaculate JHS in dire need of infrastructure

Saint Mary Immaculate Junior High School at Duotang in the Nandom Municipality of the Upper West Region is in a dire need of infrastructure to enhance teaching and learning. The school currently has no staff common room and an office to keep the certificate of past students as well as …

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