Ghana’s Producer Price Inflation (PPI) increased to 6.4 percent in April 2018. The Producer Price Inflation measures the average change over time in the general prices received by domestic producers for the production of goods and/or provision of services. Comparing the April figure to that of March, the PPI went up by 2.7 percent. In …
The Bank of Ghana (BoG) has reduced the policy rate to 17 percent. This represents a 100 basis points reduction in the policy rate which was at 18 percent. Today’s announcement comes after the central bank reduced the rate from 20 percent to 18 percent in March this year. The announcement was made after the …
The International Monetary Fund ((IMF) has granted some waivers to Ghana after its fifth and sixth review of the country’s economic performance under its programme with Ghana. A statement from the Fund said during the review, adjustments were made to the programme to ensure that it remains on track and to enhance its prospects of …
The Ghana Standards Authority is set to push for a national policy that will ensure that at least 50% of cocoa produced in the country is processed before exportation. Cocoa contributes about 25% to the GDP, amounting to over $2 billion in foreign exchange annually. Ghana, although second on the list of cocoa producers in the world, …
In 2016, the World Bank reported Ghana’s urban population at 54.68% of the total population; the majority of which are based in Accra, Kumasi, Takoradi and Tema. A typical day in the life of a resident in any of the above urban centres and many others across the country is one of work, school and …
Sub-Saharan Africa’s small and medium enterprises have benefitted enormously from the revolution in digital finance in the region, and now require more innovation and targetted approaches to reach entrepreneurs hungry for US$331billion in new funding across Africa. These issues are at the forefront of discussions in Nairobi at the SME Finance Forum – an initiative …
The country’s energy sector must be treated as a business that supports all aspects of the economy and not as a social tool, says Harriette Amissah-Arthur, Executive Partner at Arthur Energy Advisors – a consultancy that focuses on energy and power. “When we sit down and look at the sector [energy], it is not seen …
Some multinational companies engaged in the services of virtual currencies such as Bitcoin and crypto currencies are predicting that Ghana will be the first country on the continent to accept bitcoin as payment scheme. This follows the increasing number of Ghanaians that are said to be engaging in virtual currencies despite a warning from the …
Inflation for April dropped to 9.6 percent. This represents a 0.8 percent drop compared to the 10.4 percent recorded in March this year. The Consumer Price Inflation, measures the average change over time in the general prices of goods and services. Acting Government Statistician, Baah Wadieh reported that the decline is as a result of …
Imposing any form of tax on mobile money transactions will be a major drawback to the financial inclusion agenda championed by government, Akinwale Goodluck, Head of sub Saharan Africa at GSMA, the global body that represents the interest of mobile operators worldwide, has said. “I am very concerned anytime there is any indication that government …