BUSINESS NEWS

The local currency is back into free-fall mode against its major counterpart trading currency, the US dollar, as it records its highest depreciation since beginning of the year, B&FT analysis has shown. Data from the Bank of Ghana (BoG) interbank FX rates show as of Tuesday, 7 September 2021, the …

President Akufo-Addo has expressed government’s commitment to improve the business environment to grow firms and improve the livelihood of Ghanaians. According to him, this is in line with the realisation of the “Ghana Beyond Aid” agenda. Speaking at the maiden edition of ‘Spark Up’, an investment summit organised by the …

  THE GHANA Statistical Service (GSS) yesterday announced that the year-on-year inflation rate for August 2021 was 9.7%. This means that in the month of August 2021, the general price level was 9.7% higher than in August 2020 while month-on-month inflation between July 2021 and August 2021 was 0.3%. The …

The Ministry of Trade and Industry has begun disbursing ¢282 million to businesses to revive the industrial sector from the shocks of Covid-19 pandemic. According to a Deputy Minister, Herbert Krapa, this is part of efforts to ensure the implementation of some targeted reforms to continue to increase Foreign Direct …

For months now, prices of building materials in Ghana have seen a consistent surge, with no sign of respite soon.   The price of cement, for instance, has increased by almost 43 percent between December last year and September 2021.   The situation, according to analysts, is having a dire …

Ghana was ranked 12th out of 54 countries in the 2020 Africa Infrastructure Index Report conducted by the African Development Bank. The nation was also the 2nd best performing country in West Africa behind Cape Verde. Ghana’s ranking improved from a score of 28.8% in 2018 to 30.12%.  However, this …

Vice President Dr Mahamudu Bawumia has touted the government’s achievement in managing the cedi against foreign currencies. According to him, despite the ravaging effects of the Covid-19 pandemic, the cedi under the Akufo-Addo government has recorded the lowest depreciation ever in the Fourth Republic. Speaking at the Industrial and Commercial …

Out of 15 top currencies on the African continent tracked by Joy Business, the Ghana cedi is presently placed 7th in terms of league of best performing currencies, despite the recent pressures on the local currency. It is performing better than the South African rand (-8.07%), the Nigerian naira (-7.37%) …

The Ghana cedi is now trading above 6 cedis as demand for the American ‘greenback’ continues to surge. Data from Reuters and Databank Research indicates that a dollar is going for more than ¢6. Also, the forex bureaux are selling the local currency between ¢6.1 and ¢6.14 to a dollar. …

Government has given a firm assurance that it will not default in its debt obligations despite the rising level of same.   The Deputy Minister of Finance explained that funds are being invested in some productive sectors and projects that will help pay back these loans on time.   Dr …