Over 40 foreign investors are expected to explore business opportunities in the agriculture sector, Dominic Oduro Antwi, President of the Ghana-India Trade Advisory Chamber, has said. The sector has lacked investment and innovation to modernise it and contribute significantly to the Ghanaian economy. However, the government’s Planting for Food and Jobs policy has revitalised the …
Month: January 2020
The central bank of Ghana has hinted of government’s plans to borrow almost GH¢20billion through domestic instruments between January and March 2020. The country is working around the clock to raise revenue for expenditure through bills. The bills include a 20-year shelf offering bill subject to re-opening based on investor’s request. “Government plans to issue …
The Securities and Exchange Commission (SEC) has issued guidelines on the registrations of auditors of public companies and SEC licence as well as the registration of accountants reporting for public companies. The move is part of efforts to sanitise the securities and investment industry which in recent times have been hit by liquidity challenges and …
Credit to the private sector (large enterprises, short-term and long-term enterprise loans) remained tightened in October, November and December 2019, according to a Bank of Ghana Survey. There was, however, a net ease in banks’ credit stance on loans to small and medium enterprises (SMEs) in October 2019 but further tightening in November and December. …
Inflation for the month of December 2019, declined to 7.9 percent beating the end-year target the Finance Minister announced in the mid-year budget. Mr. Ofori-Atta had set the government’s sights on achieving an end-year inflation rate of 8 percent. But inflation slowed from 8.2 percent in November 2019, to close the year within the government’s …
The growth rate in commercial banks’ deposits has slowed down amidst the reforms undertaken by the central bank to strengthen the sector. The Bank of Ghana in its latest banking sector report stated that deposits, as the main source of funding for the banking industry, grew by 17.1 percent in October 2019, marginally lower than …
The Social Security and National Insurance Trust (SSNIT) has announced an increase in pensions by at least 11% for 2020. Director-General of SSNIT, Dr John Ofori-Tenkorang announced Thursday in Accra as part of the review in pension indexation. The 2020 indexation rate was determined using the percentage change in the annual average Consumer Price Index …
The Ministry of Fisheries and Aquaculture Development has begun a mass immunization of fish farms in the country to fight the Infectious Spleen and Kidney Virus diseases in fish. The exercise follows the mysterious losses of tilapia in fish farms along the Volta Lake. The Asutuare area in the Shai Osudoku District recorded one of …