BUSINESS

The Economist Intelligence Unit (EIU) is projecting a 0.2% increase in average inflation to 8.7% for this year. This means prices of goods and services will largely remain same, whilst interest rates stay low. “Despite a sharp downturn in economic activity, we expect annual average inflation to edge up in …

The leadership of Road Transport Operators has cautioned transport operators not to increase fares in the wake of the coronavirus pandemic. According to the group, the existing transport fares are to be maintained, urging all operators to adhere to the laid down procedures for the determination of transport fares. The …

The Coalition of Aggrieved Customers of Menzgold (CACM) has described Payboy Company Limited, an alleged offshoot of the defunct gold trading company, Menzgold Ghana Limited as a Ponzi scheme and cautioned its members against doing business with them. This follows calls on customers by Payboy Company to pay an amount of money in order …

Members of the National Concerned Drivers Association have threatened to increase transportation fares by the end of this week if the government does not reduce the price of fuel at the pumps with immediate effect. The association said its members have obeyed President Akufo-Addo’s directives of reducing the number of …

Despite all the gains made by the local currency against its major trading currencies at beginning of the year, especially the United States dollar, the coronavirus pandemic impact has washed all away, causing the cedi to lose its strength. The cedi, which appreciated by 4.5 percent as of the end …

CalBank has donated an amount of GHS 200,000.00 to the Covid-19 National Trust Fund at the office of the Presidency in the Jubilee House, Accra. This is an additional gesture to earlier contribution of GHS 10million presented by the Ghana Association of Bankers in the collective efforts to deal with …

Finance Minister, Ken Ofori-Atta says the Ghanaian economy will take three years to recover from the impact of the COVID-19pandemic. The Minister in an article published in the Financial Times said “A U-shaped recovery is touted, but ours will likely be a steep drop, then a two- to three-year downward slide before a …

Authorities of the Kumasi Metropolitan Assembly have ordered the closure of the Kumasi Central market hours after President Akufo-Addo ordered the opening of the lockdown areas. According to Ultimate FM’s Isaac Bediako Justice, the closure was necessitated by the refusal of the traders to observe social distancing protocols. ” There …

Prophet Kofi Oduro, the Leader and founder of Alabaster International Ministry has descended heavily on telecommunications networks in Ghana. Prophet Kofi Oduro has stated that the vengeance of God shall come upon telecommunication networks in Ghana who have refused to reduce or provide free browsing data to Ghanaians during the …

Ghana government’s introduction of the Universal QR Code payment system has been cited by Finextra, an internationally-renowned financial news publication, as an example of a new payment revolution that is sweeping through the world in the wake of COVID-19. Ghana became the first African country to introduce the Universal QR Code …