BUSINESS NEWS

Pure Water Producers (PWP) in Akyem Oda and its environs say it has jacked up the price of sachet water from GH₵ 6 to GH₵ 7 per bag effective Monday, May 27, 2024. This is stated in a statement made by Mr. Emmanuel Kwadwo Yeboah Mireku, the association’s branch chairman. …

The Bank of Ghana (BoG) has said that it remains fully committed to providing stability in the exchange rate for the cedi. The Governor of the Bank of Ghana, Dr Ernest Kwamina Addison, stated that enough foreign exchange reserves to support the market and economic agents should stop engaging in …

A nationwide coalition of traders’ associations has issued an urgent plea to the government, calling for swift action to stabilize the exchange rate and seeking a reduction of the rate of US$1 from GH¢15.50 to GH¢ 10.00. This adjustment is considered crucial for the sustainability and growth of small and …

The national chairman of the governing New Patriotic Party, Stephen Ayesu Ntim has been appointed as the board chairman of the National Petroleum Authority (NPA). He succeeds Joe Addo-Yobo, who held the position of board chairman since 2017. The previous chairman, Joe Addo-Yobo, stepped down due to health reasons and …

The Chamber of Petroleum Consumers (COPEC) is predicting an imminent fuel shortage should the grievances of the striking Ghana National Petroleum Tanker Drivers Union remain unresolved. COPEC emphasises that urgent resolution of the drivers’ concerns is imperative to avert potentially severe repercussions. The Ghana National Petroleum Tanker Drivers Union commenced …

The Ministry of Finance in 2021, began processes to secure approximately $335,072,712.13 tax exemptions for some 42 companies under the government’s One District One Factory initiative. The Exemptions Act, 2022 (Act 1083) was laid in Parliament by the former Minister for Finance, Ken Ofori-Atta, in 2022. The Chinese-owned company, Sentuo …

Dr. Ernest Addison, Governor of the Bank of Ghana, underscores the pressing issue of insufficient investment hindering fintech innovation across Africa. At the 3i Africa Summit in Accra, Dr. Addison emphasizes the pivotal role of investment in fueling innovation and advancing the continent’s digital finance agenda. Despite Africa’s promising fintech …

The Minister for Trade and Industry, K. T. Hammond, has directed the Cement Manufacturing Development Committee (CMDC) to instruct cement manufacturing companies in Ghana to immediately reverse the recent increase in cement prices. The Minister, recalling his directive to the CMDC at its inauguration on 8th March 2024, further requested …

Tensions escalated as members of the Locked-Up Investment Holders Forum clashed with a Deputy Finance Minister, Dr Stephen Amoah when they resumed their picketing at the Finance Ministry on Wednesday, May 15. The protest, which is not the first of its kind by the group, sought to pile pressure on …

The Ghana Union of Traders Association (GUTA) has called on the government to take urgent measures to ensure the cedi appreciates against major trading currencies, especially the dollar. “GUTA expresses its readiness to collaborate with the government and other stakeholders on this issue,” it added in a statement dated May …