Business

The Bank of Ghana (BoG) has declined to disclose the complete cost of its new head office building to Mahama Ayariga, Member of Parliament for Bawku Central. In response to Ayariga’s request for detailed financial information regarding the construction project, the BoG redirected him to the Public Procurement Authority (PPA) for further clarification. Citing procedural protocols, the BoG stated that all financial details related …

The former Trade Minister explained that because of the importation of clinker for the production of cement, whenever the Cedi falls against the Dollar, it automatically affects the prices of the commodity. Asked for his view on the introduction of the Legislative Instrument (L.I) by Trade Minister KT Hammond to control the prices of Cement, while speaking on the New …

Government successfully raised GHS 2.99 billion, exceeding its target of GHS 2.65 billion in a recent treasury bills auction, the Ghanaian. This achievement reflects a modest resurgence in demand for short-term government securities as interest rates remained steady across all tenors. At the auction, government saw strong interest in its treasury bills, demonstrating confidence in the stability of the yield …

The Chamber for Petroleum Consumers (COPEC) has projected a rise in fuel prices for the first pricing window of July 2024. According to COPEC, retail prices of petrol, diesel, and liquefied petroleum gas (LPG) are expected to increase across the country. This anticipated hike is attributed primarily to the further depreciation of the Cedi against the Dollar, with the exchange …

The 2023/2024 cocoa season is projected to be one of the worst in recent years, largely due to extreme weather conditions experienced last year. Chief Executive of Ghana Cocoa Board, Boahen Aidoo, addressing concerns, attributed the decline to unprecedented weather patterns that have severely impacted cocoa production. According to him, the previous year recorded the hottest temperatures in history, setting …

The Trade Minister has dismissed calls by cement manufacturers for stakeholder discussions before the proposed legislative instrument aimed at regulating cement prices is placed before Parliament. Speaking on JoyNews’ PM Express, Kobina Tahir Hammond said that although the manufacturers were not consulted during the drafting of the L.I., he had consistently had conversations with them on the need to be …

Manufacturers of cement products could be liable to up to three years in jail if they flout certain provisions of the Legislative Instrument (L.I.) being proposed by Trade Minister, K.T Hammond. This stiff penalty is contained in the proposed draft document the Trades Minister intends to present to the House sighted by JoyNews. This comes as the Trade Minster, K.T …

The Ghana Plastic Manufacturers Association has threatened to shut down production over the imposition of a 5% excise tax on locally produced plastic products. At a press conference, the President, Ebbo Botwe issued a week ultimatum to government to rescind the decision as it would impact their businesses. However, he proposed engagement with all stakeholders, citing the potential economic fallout …

Trades and Industry Minister, KT Hammond, says he will disregard the Chamber of Cement Manufacturers petition to delay the implementation of a legislative instrument to regulate cement prices. KT Hammond insists that the law is essential to prevent a cartel of manufacturers from exploiting the public. Under the proposed LI, cement manufacturers could face up to three years in jail …

Chief Executive Officer of Ghana COCOBOD, Joseph Boahen Aidoo, has addressed calls for his resignation for the decline in cocoa production and low yields. He asserted that, the decrease in cocoa output is due to natural occurrences, not mismanagement. The COCOBOD CEO has faced criticism for his perceived lack of proactivity and effectiveness, which some argue has contributed to the …