BUSINESS NEWS

Parliament is now waiting on President Akufo-Addo to assent to the Electronic Transfer Levy (E-Levy) Bill. The Majority inapproved the E-Levy after the Minority walked out saying the tax is a tool to exacerbate the plight of the ordinary Ghanaian.     Today’s decision was reached after the Consideration Stage …

The Vice President of Ghana,  Dr. Mahamudu Bawumia has responded to critics who have, in recent times, asked about his whereabouts at a time when the country’s economy appears to be taking a nosedive.     Dr Bawumia has, for some time now, focused on the administration’s digitisation agenda in …

Transport operators in the country say they are disappointed in the government for reducing fuel prices by just GHp15 per litre through the Finance Minister Ken Ofori-Atta’s address on Thursday, March 24. The operators say the GHp15 will not change their decision to review transport fares but will also enable …

Fuel prices in Ghana will go down by 15 pesewas per litre effective April 1, 2022. This reduction will be in place for three months. This was disclosed by the Minister of Finance, Ken Ofori-Atta, on Thursday, March 24, 2022, while announcing measures put in place by the government to …

Local airline operators, Passion Air has suspended flights to the Volta regional capital, Ho.   According to the airline, although the new Ho route did not enjoy a lot of patronages, the decision to suspend flights to that part of the country is mainly due to the increase in fuel …

The government has announced that it will pump an amount of $2 billion into the economy to curb the continuous depreciation of the cedi. This forms part of measures by President Akufo-Addo to mitigate the hardships being experienced by the populace. Amidst the growing depreciation of the cedi and the …

The Vice President, Dr. Mahamudu Bawumia, will on April 7, 2022, speak on the Ghanaian economy, his spokesperson, Gideon Boako has confirmed. Following debilitating effects on the Ghanaian economy, including price hikes on fuel and commodities and depreciation of the Cedi, there have been calls on the Vice President to …

The Association of Importers and Exporters of Ghana has urged President Akufo-Addo to sack the governor of the Central Bank for what they say is his poor handling of the Cedi.   According to the Association, the steady depreciation of the Cedi is a testament to the underperformance of the …

In addition to the upward policy rate adjustment, the Bank of Ghana (BoG) has said it will, effective April 1, 2022, enforce measures in relation to universal banks as part of efforts to deal with the challenges facing the economy. These measures include, the Cash Reserve Ratio is increased to …

The Monetary Policy Committee of the Bank of Ghana has increased the policy rate – the rate at which it lends to commercial banks – by 2.5% per cent to 17%. This is the first time since November 2018 that the rate has gone up so high. The decision is …