Sat05192012

Last update10:12:46 PM GMT

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Ghana Economy

Ghana's Total Debt Up

money bags

Ghana's total debt increased by 10 per cent to GH¢23,608.5 million by the end of the second half of 2011.

That represented 39.9 per cent of gross domestic product (GDP).

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Joblessness is on the rise in Ghana - TUC

Mr Kofi Asamoah  TUC Gen  Secretary

The General Secretary of the Trades Union Congress (TUC), Mr Kofi Asamoah, has expressed worry about the unemployment situation in the country and called on government to create decent jobs for the citizenry.

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Central bank moves to stabilise cedi

Bank Of Ghana

The Bank of Ghana says it will reintroduce some short-term bills, change bank reserve requirements, and require 100 percent cedi cover for vostro (cash held in

an account on someone else’s behalf) balances held at banks in order to help stabilise the local cedi.

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Fuel shortage hits parts of Accra

Attendant refuels a car

Some motorists in Accra have been complaining about the difficulty in getting petrol for their vehicles.

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Economy Registers 16% Growth

dr kwabena duffuor

The national economy grew by 16 per cent in the last four months of 2011 on the back of strong growth posted in the industry and the services sectors.

The 2011 fourth quarter growth rate of 16 per cent is 0.8 per cent lower than the 16.8 per cent growth rate recorded in the third quarter of 2011. It is, however,

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GCB Embarks On Transformation Drive

Ghana Commercial Bank  (GCB) will continue with its transformation programme  to help reposition  itself as one of the  leading banks in Africa, the Managing Director, Mr Simon Dornoo, has said.

The transformation programme, which began in 2010, is a major change programme which involves  the review of the bank’s  governance structures, processes,

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Customs To Set Up Electronic Platform

Major General Carl Modey

The Customs Division of the Ghana Revenue Authority (GRA) is to set up an electronic platform on which all stages of documentation of importers and exporters will be made available.

The platform which will be based on the Customs Management System (CMS) can be accessible via the Internet by stakeholders of Customs, particularly the banks

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Inflation Urges Up To 8.8 Percent In March

Dr Philomena Nyarko   acting Government Statistician

The annual inflation rate edged slightly to 8.8 percent in March from 8.6 percent in February, the Ghana Statistical Service said on Wednesday.

“This means that the general price level went up by 8.8% over the one year period from March 2011 to  March 2012,” Dr Philomena Nyarko, Acting Government

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Government approves plan to save Air India

India national airline

The Indian government has approved a debt restructuring plan to save Air India, the country's national airline.

Civil Aviation Minister Ajit Singh said 30bn rupees ($5.9bn; £3.7bn) would be injected into the airline by 2020.

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Parliamentarians To Benefit From Insurance Cover

Vanguard Assurance Logo

Vanguard Assurance, a leading insurance company in the country has come up wih an innovative policy that is aimed at protecting both incumbent members of

parliament and aspiring parliamentarians as they embark on their duties and campaigns for Election 2012 and beyond.

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Ghana's Exchange Commodity Market lauded

Hannah Tetteh

The Chief Operating Officer of the Ethiopian Commodity Exchange, Mr Ahadu Woushet, has lauded Ghana’s initiative to establish a Ghanaian

Commodity Exchange,elaborating the numerous benefits that the exchange platform presents.

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E-Zwich Money Transfers Grow More Than 100 Percent In 2011

payement system

Money transfer transactions through the e-zwich payment system saw a significant growth in 2011, going up by over 147 percent compared over the same period in 2010.

Over 60.6 million Ghana cedis worth of funds were transferred last year compared to 24.5 million Ghana cedis in the previous year.

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Nigeria’s Okonjo-Iweala will not get World Bank job - Dr. Joe Abbey

Nigeria Finance Minister  Ngozi Okonjo Iweala

An Economist and Executive Director of the Center for Policy Analysis (CEPA), Dr Joe Abbey, has predicted that Nigeria’s candidate for the top World Bank job will not get the nod. 

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Newmont Ghana is the most outstanding corporate taxpayer

newmont logo

Newmont Gold Ghana Limited has been presented with the most outstanding taxpayer award for 2011, for its compliance and commitment to paying the right taxes due government.

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Licensed pensions trust, Petra Trust, poised to better the lot of pensioners

Petra Trust, one of the numerous trustee companies licensed under the new three tier pensions scheme to offer their services to Ghanaian pensioners says it is

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Kwaku Sakyi-Addo: Telecos committed to delivering world-class services

Kwaku Sakyi Addo

Tell us about Ghana Telecoms Chamber

The Chamber is a private initiative by the mobile telecom operators. Its an industry forum; it seeks to influence telecoms policy, legislation and regulation. As players

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ACCESS Bank absorbs Intercontinental Bank staff

Mr  Dolapo Ogundimu  Managing Director of Access Bank Ghana

Access Bank (Ghana) Limited has announced that it has successfully completed the absorption of employees of Intercontinental Bank Ghana (“IBG”) following the Bank of

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Telecoms Chamber Engagse Gov't Over 20 Per cent Import Tax On SIM Cards

Kwaku Sakyi Addo

The Ghana Chamber of Telecommunications (GCT) has initiated talks with the government over the 20 per cent import tax imposed on Subscriber Identification

Module (SIM) cards used by the various telecommunication companies (telcos) in the country.

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Ecowas Brown Card can integrate sub-region - Glover

The Chief Executive Officer of the Ghana Ecowas Brown Card Insurance Scheme, Mr Gabriel Glover, has touted the brown card as the most successful initiative

in the West African sub-region and one of the most effective instruments to integrate the Ecowas sub-region.

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Common Approaches To Unbundling Risks

Dr Sampson O Amoafo

The general principles for risk mitigation are well known. The various risks projects generate should be unbundled and assigned to market participants who are

able to manage them- at least the cost (using financial engineering techniques and products). 

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GRA wants GCB, Ecobank sanctioned over tax delays

Ghana Revenue Authority

The Ghana Revenue Authority (GRA) has called on the Bank of Ghana to sanction Ecobank and the Ghana Commercial Bank (GCB) for unduly delaying the transfer

of indirect taxes into the Consolidated Fund.

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