The latest data from the Ghana Statistical Service indicates that the Producer Price Inflation rate for June 2024 has increased to 25.9%, higher than the 23.6% recorded in May 2024. This rate indicates that between June 2023 and June 2024, the rate increased by 25.9 per cent. The increase represents a 2.5 percentage point surge … Read more
Advertisement The Ghana Revenue Authority (GRA) has announced it surpassed its mid-year revenue collection target, despite facing challenges in the first quarter of 2024. The GRA was tasked with collecting 145,992.38 billion Cedis for the year. The authority however achieved a half-year total of 68,049.33 billion Cedis. This represents a 0.2 percent increase over the … Read more
Advertisement The recent surge in petroleum and spare parts prices coupled with economic hardship are some of the reasons that the leadership of the Transport Operators Association of Ghana cited to back their decision to increase transport fares by 15 percent. The transport operators announced the increment in a statement on Wednesday, July 17. The … Read more
Major trading houses are at risk of losing about $1 billion due to Ghana’s failure to deliver cocoa beans this year. This development according to Citi Business News sources has forced traders to exit short positions as cocoa prices surge. Ghana plans to delay delivering up to 350,000 metric tons of cocoa beans this season, … Read more
Advertisement A report, produced by the Office of the Chief Economist for the Africa Region of the World Bank dated June 2024 has affirmed policy effectiveness of the Bank of Ghana in controlling inflation. The Country Policy and Institutional Assessment (CPIA) Africa report, which focused on reforms across policy areas in Sub- Saharan Africa noted … Read more
The Public Procurement Authority (PPA) has announced stringent measures to curb the use of fake certificates among suppliers, contractors, and consultants engaged in public procurement. The Authority stated in a public notice that individuals found with fake certificates will face up to three years of prohibition from participating in public procurement, along with potential criminal … Read more
Advertisement Sustaining macroeconomic stability requires the Bank of Ghana (BoG) to continue to ensure that the BoG keeps an eye on inflation, Governor Dr Ernest Addison has said. When inflation declines to comfortable levels and interest rates begin to decline, demand and supply for small and medium-scale enterprises (SME) loans will pick up and be … Read more
Publish What You Fund, the global campaign for aid and development transparency, has once again named the African Development Bank’s sovereign portfolio as the most transparent. The portfolio emerged first out of 50 global development institutions with a top score of 98.8 in its 2024 Aid Transparency Index released yesterday. The bank’s sovereign portfolio climbed … Read more
The Ghana cedi is expected to recoup some losses against the dollar in the coming months, Fitch Solutions has revealed. According to the London-based firm, this is due to improved investor sentiment, higher dollar inflows, and easing external conditions, In an article dubbed “Sub-Saharan Africa currency round-up: greater stability ahead in second half of 2024”, … Read more
Advertisement The Bank of Ghana (BoG) has stepped up efforts to bring inflation under control, eliminate monetary financing of budget, and rebuild foreign currency buffers, Governor Dr Ernest Addison has said. He said the central bank is also taking steps to implement comprehensive strategy to ensure rebuilding of capital buffers of financial institutions’ post-Domestic Debt … Read more