Business

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 …

The Managing Director of the Agricultural Development Bank (ADB) PLC, Alhassan Yakubu-Tali has emphasised the need to speed up financial inclusion through digitalisation. This, he said, will help bring financial services to people who don’t have access to banks. He pointed out that people without bank accounts should be seen as potential customers. By developing strong digital infrastructure, these people …

The Bank of Ghana (BoG) has reviewed rules covering advance payments for imports of goods and services to the country. This was contained in a statement published by the central bank to regulate the sector. The review will take effect from July 1, 2024. The BoG said the decision was taken as part of measures to clarify the procedures that …

The Special Aide to NDC flagbearer John Mahama has confirmed that if the party wins the upcoming election, it will invest $500 million to combat the illegal mining menace, known locally as ‘galamsey’. Joyce Bawa-Mogtari told Evans Mensah on PM Express that this issue is of great concern, and additional state resources will be invested to address it. The former …