Business

As the Ghanaian economy strives to rebound to pre-pandemic levels, the Government is urging the private sector to come up with innovative products and services to satisfy the needs of their markets. The remarks come at a time when businesses are complaining of high cost of production in the country which is affecting the competitiveness of Ghanaian businesses. Data from ...

Ghana’s Consumer Price Inflation accelerated to 27.6% year-on-year in May from 23.6% in April hitting a new 18-year high, the Statistical Service said on Wednesday, June 8, 2022. This means that in the month of May 2022, the general price level was 27.6% higher than in May 2021. The Ghana Statistical Service figures also indicated that month-on-month inflation between April ...

Commuters should expect an increase in transport fares by 30 percent come Friday, May 13. This is according to the Ghana Private Road Transport Union. According to the union, the decision is a result of an increase in fuel prices over the last few months. The union had earlier proposed that government scraps some taxes on petroleum products to cushion ...

The Mobile Money Agents Association of Ghana has stated that there have been unprecedented panic withdrawals at the mobile money vending stations after five days of implementing the e-levy. Spokesperson of the Association, Charles Kwesi Addo, in an interaction with JoyNews said its members are overwhelmed by the numbers. “As at Friday even before the implementation of the levy on the 1st of ...

The Chamber of Petroleum Consumers-Ghana (COPEC), says its projection for the next pricing window shows that prices of petroleum products will see a marginal increase from Sunday, May 1, 2022. In a statement, the energy think tank said it expects petrol and diesel to be sold at GH¢ 9.538 and GH¢ 10.829 per litre respectively, bringing the average price of ...

The Bank of Ghana (BoG) has cautioned persons pricing goods and services in foreign currencies to desist from such practices or have themselves to blame. According to the apex bank, such practices breach the Foreign Exchange Act, 2006 (Act 723) which prohibits companies and institutions from pricing, advertising, receipting, or making payments in foreign currencies in Ghana. The central bank ...

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 cushion Ghanaians against current economic shocks. “To mitigate the rising ...

Government has reportedly agreed to scrap some taxes on petroleum products as a way of dealing with incessant increase in fuel prices largely caused by rising crude prices on the International market and a depreciating cedi against major currencies. The supposed government decision comes on the back of engagements with key groups and associations which threatened to embark on a ...

Nigeria’s inflation rate rose in February after recording a fall in January as Africa’s most populous nation faces fuel shortages that have helped push prices higher. The country’s statistics office announced Tuesday that the consumer price index (CPI) increase between February 2021 and February 2022 was 15.70 per cent, higher than 15.60 per cent recorded in January, The National Bureau ...

Prices of petroleum products will from Wednesday, March 16 experience a significant surge as consumers are expected to pay ¢11 per litre. The Bulk Oil Distributors has blamed the situation on the volatility on the market as well as the rising cost of crude on the international market. According to the Chief Executive, Senyo Hosi, the cedi which is depreciating ...