Business

The Public Utilities and Regulatory Commission (PURC) has increased the water tariff by 21% and the electricity tariff by 27.15%. The new tariffs start on September 1. The regulator announced this on Monday, August 15. The management of the Electricity Company of Ghana made a proposal to the PURC to …

The Bank of Ghana has assured that its quest to implement the digital currency, also known as the e-cedi, will not disrupt or collapse the mobile money (MoMo) system. According to the regulator, the implementation will rather be a positive one in the MoMo value chain. The government has adopted …

Year-on-year inflation crossed the 30% mark to hit 31.7% in the month of July 2022, data from the Ghana Statistical Service has revealed. However, the rate of inflation slowdown in the month under review, as inflation went up by 1.9% over that of June 2022 (29.8%). According to the GSS, …

The LPG Marketing Companies Association of Ghana has called off its strike. This comes after the Cabinet’s decision to lift the ban on the construction of new LPG stations across the country. The association had embarked on a nationwide strike over the issue, as they argued that it has for the past …

The National Petroleum Authority has indicated its willingness to compromise in its discussion with striking gas tanker drivers. According to the PRO for the authority, Mohammed Kudus said “if there is the need to give and take, we will do that and if there is the need for possible re-engineering …

Côte d’Ivoire and Ghana have decided to no longer sell their cocoa at origin differentials below zero, from as much as 125 pounds below the ICE terminal market, their joint Côte d’Ivoire-Ghana Cocoa Initiative (CIGCI) announced in Accra. The origin differential is an additional country quality premium that has traditionally …

According to the 2022 World Investment Report, the rise in Ghana’s foreign direct investment flows was attributed to major projects in its extractive industries Foreign direct investment flows to Ghana increased by 39% to US$2.6 billion for the year 2021, according to the World Investment Report 2022. This placed Ghana …

The Bank of Ghana has responded to the Minority spokesperson on Finance, Cassiel Ato Forson’s allegations that it has printed more currency for the country without parliamentary approval. The BOG in a statement clarified that the said amount of GH¢22.04 billion Mr. Forson claimed to have been printed “represents net …

Economic activity slowdown in the second quarter of this year, the Bank of Ghana has revealed. According to the Central Bank, the updated Composite Index of Economic Activity (CIEA) recorded an annual growth of 1.7% in May 2022, compared to 2.5% in April 2022 and 5.0% in December 2021. The …

The government’s projected economic growth rate of 5.8% for 2022 has been revised to 3.7%. This was disclosed by the Finance Minister, Ken Ofori-Atta during the presentation of the mid-year budget to Parliament for approval on Monday. According to the Minister, the revision has become necessary due to global developments …