BUSINESS NEWS

The Gas Tanker Drivers Association (GTDA) has served notice to commence a sit-down strike on Monday, August 1, 2022, across the country. In a press release dated July 29, 2022 the Association disclosed that the move is in consultation with relevant stakeholders in the industry such as Ghana LPG Operators …

Foreign direct investment (FDI) 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 second in West Africa, and seventh in Africa, in terms of FDI attraction. The rise in Ghana’s FDI flows was attributed to major …

The Finance Minister Ken Ofori-Atta has admitted that the state of the Ghanaian economy is not in the best shape.   Presenting the mid year budget review in Parliament on Monday July 25, he recounted the challenges Ghanaians are going through due to the impact of the warfare between Russia …

The AfCFTA Policy Network (APN) is developing a programme to be included in the curriculum of tertiary schools starting from the University of Ghana (UG). The African Continental Free Trade Area (AfCFTA) has one of its core mandates being the elimination of trade barriers, while boosting intra-African trade. The APN …

The cedi lost 19.2% in value to the US dollar in almost seven months of 2022. According to the Summary of Economic and Financial Data by the Bank of Ghana, the local currency went for ¢7.43 to the American ‘greenback’ on the interbank market as of July 22nd, 2022. It …

The Institute of Economic Affairs (IEA) is asking the Monetary Policy Committee of the Bank of Ghana to increase the monetary policy rate by another 100 to 150 basis points to 20 or 20.5 percent.     pic.twitter.com/m9OvRBxzLG — My Ghana Media (@MyGhanamedia2) July 19, 2022   This is ahead …

A Bloomberg study has ranked Ghana 2nd among countries with the highest debt default risk in 2022. The country closely follows El Salvador (ranked number one) in the Sovereign Debt Vulnerability Ranking.   Ghana’s debt to Gross Domestic Product (GDP), according to Bloomberg, is estimated at 84.6% by the end …

The National Petroleum Authority (NPA) as part of its routine exercises has clamped down on some fuel stations in the Western Region that have tampered with their fuel pumps.   The exercise, which is being spearheaded by the Consumer Services Department at the Head Office and the Western regional office …

Most Teacher unions have been on strike over their COLA with many others including health workers threatening to lay down their tools In a statement sighted by MyGhanaMedia.com indicates that  after a back and forth between striking labor unions and government the two parties (the leadership of the labour unions …

The Vice President of Ghana , Dr Mahamudu Bawumia, addressed Ghanaians on the country’s decision to seek economic assistance from the International Monetary Fund (IMF).   He spoke at the Accra Business School on Thursday, July 14, 2022.       Below is the full text of his speech.   …