Fuel prices to rise marginally in second pricing window of May – IES – Citi Business News

Consumers of fuel may have to brace themselves for more shocks in the next couple of days because the Institute of Energy Security (IES) is forecasting a 3 to 6 percent increase in the price of petrol and LPG and 2 percent increase in the price of diesel on the local market. According to the …

Ghana needs more entrepreneurs to check imported inflation – Finance Minister – Citi Business News

Finance Minister, Ken Ofori-Atta, has explained that the only way by which imported inflation in Ghana can be minimized is if the country is able to raise more entrepreneurs to produce locally. According to him, it is for this reason that the government is investing heavily in projects that can build an entrepreneurial society in …

Current high inflation rate phenomena is not an isolated event – Seth Terkper – Citi Business News

Former Finance Minister, Seth Terkper has called on government to take a comprehensive look at the economy to resolve the high inflation rate phenomena being experienced and its knock-on effect on other parts of Ghanaian life. According to Mr. Terkper, the high rate of inflation is connected and tied to different aspects of the economy …

I had aggregate 9; but the University of Ghana Business School didn’t admit me – Education Minister

Education Minister Dr Yaw Osei Adutwum The Minister for Education, Dr. Yaw Osei Adutwum, has revealed that, even though he excelled in his ‘A’ level exams, he was denied admission by the University of Ghana Business School (UGBS). According to him, having made aggregate nine, he was hopeful of gaining admission to the UGBS. Dr. …

We are confident in homegrown recovery plan; IMF still not an option – Ofori-Atta – Citi Business News

Finance Minister, Ken Ofori-Atta, has reiterated government’s stance on not seeking a bailout from the International Monetary Fund, IMF, despite the current economic challenges. Mr. Ofori-Atta says government will consider home-grown solutions to deal with the difficulties because the country has what it take to recover from the issues facing the economy. The government, despite …

KIC and Mastercard Foundation launch Agri-MSMEs acceleration program – Citi Business News

The Kosmos Innovation Center (KIC) in partnership with the Mastercard Foundation have launched the KIC Business Booster – an acceleration program aimed at scaling Micro, Small, and Medium Enterprises (Agri-MSMEs) in the agriculture sector. The KIC Business Booster accelerates the growth of Agri-MSMEs by improving their investor readiness and connecting them to potential funding. Agri-MSMEs …

Gov’t to put measures in place to reduce ‘imported inflation’ – Ofori-Atta – Citi Business News

Finance Minister, Ken Ofori-Atta, has stated that government is committed to building an entrepreneurial society to help reduce the imported inflation. His comments come as recent data from the Ghana Statistical Service indicates that the continuous increase in transport fares and food prices across the country has pushed the national year-on-year inflation for April 2022 to …

E-levy implementation challenges under control; ignore doomsayers – Ken Ofori-Atta

Finance Minister, Ken Ofori-Atta, has said that government has been able to resolve the initial challenges that characterised the implementation of the Electronic Transfer Levy (E-Levy). He explained that the anomalies were promptly identified and mechanisms have already been instituted to enhance the collection process. “I don’t know of any programme which has technology involved, …

Elon Musk puts Twitter deal on hold over fake account details

Elon Musk has said his $44bn deal to buy Twitter is temporarily on hold after he queried the number of fake or spam accounts on the social media platform. He said he was waiting for information “supporting [the] calculation that spam/fake accounts do indeed represent less than 5% of users”. Following the announcement, Twitter shares …

Stakeholders call on policy makers to address upsurge in prices of goods – Citi Business News

Following the recent announcement on the rise in the inflation rate in the country, industry players have intensified calls for an intervention to check the rising prices of goods and services in the country. Ghana’s economy has in recent times experienced a downturn. Stakeholders have cited the depreciating cedi, spike in fuel prices, inflation rates …

Businesses will pass on increased cost of production from high utility tariffs – GNCCI – Citi Business News

The Ghana National Chamber of Commerce and Industry (GNCCI) is cautioning that its members would have no choice but to pass on any increases in their cost of production that will arise, as a result of high utility tariffs. The remark follows the recent proposals for tariff increases by the Electricity Company of Ghana (ECG) …

A good chunk of April inflation imported – Finance Minister

Finance Minister, Ken Ofori-Atta The Finance Minister, Ken Ofori-Atta has attributed the country’s rising inflation to factors beyond government’s control. He said almost all African countries are facing similar situations. He thus added that global inflation has risen and that Ghana’s case is not an exception. He made these comments on Thursday at a press …