BUSINESS

Oil market companies have initiated a series of price hikes for petroleum products at the fuel pumps. TotalEnergies has raised the price of petrol from ¢12.45 to ¢13.50 per litre since the start of this month. Diesel’s cost has similarly surged from ¢12.45 to ¢13.90 per litre. Goil has followed suit, with petrol now priced at ¢3.50 and diesel at ...

The 43.1 percent inflation rate in Ghana is high and does not augur well for the economy, Director of the Institute of Statistical, Social and Economic Research (ISSER) of the University of Ghana Professor Peter Quartey has said. He noted that persons cannot live with an inflation rate of 43.1 percent. Speaking on the Business Focus on TV3 with Paa ...

In the first half of 2023, MTN Group delivered resilient results, advanced its strategy by partnering with Mastercard on the MTN fintech business, and progressed plans to exit Afghanistan. This was achieved in a difficult operating environment marked by elevated inflation, weaker local currencies and regulatory developments across our 19 markets, the telecommunications company said in a statement. “We delivered ...

Chief Executive Officer of the National Youth Authority (NYA) Pius Enam Hadzide has said that provisions have been made to support young start-ups in Ghana. He stated that per the laws of Ghana, a Ghanaian between 15 to 35 years is entitled to tax holidays for five years if they create a business in tourism, manufacturing, and water and sanitation ...

The Youth Employment Agency (YEA) has launched the “Youth in Garment and Textiles Module” in Kumasi. The module has been designed to afford beneficiaries the opportunity to receive in-depth knowledge and hands-on training in various aspects of tailoring and dressmaking, including fabric selection, cutting techniques, sewing, garment construction, pattern making, and alterations. Chief Of Staff at the Office of The ...

The 2022 Trade Vulnerability Report for Ghana reveals that four nations (Switzerland, China, Canada, and South Africa) were responsible for more than half of the oil-, gold-, and cocoa-producing country’s exports. Conversely, six countries (China, UK, Netherlands, USA, India, and Switzerland) accounted for roughly half of all imports. LEARN AND TRADE FOREX WITH GOLIGFX WATCH THE VIDEO BELOW: Regarding traded ...

Fuel prices in Ghana are projected to experience a significant increase in the second pricing window of August 2023, according to the Chamber of Petroleum Consumers (COPEC). The organisation forecasts a potential rise of approximately 5.7% within the next 48 hours, impacting both petrol and diesel costs. Currently, the average price at the pumps stands at GH¢12.45 per liter. Additionally, ...

The Bank of Ghana (BoG) is heavily respected outside Ghana but it has been committing several mistakes, a renowned economist Kwame Pianim has said. In the view of Mr Pianim, officials of the Bank should have held meetings with members of the Finance Committee of Parliament to explain to them the dire situation that the country found itself in and ...

Ghana’s inflation has surged for the third consecutive month, reaching a new high of 43.1% in July, up from the previous mark of 42.5%. These latest figures were announced on Wednesday, 9 August 2023, by government Statistician Prof. Samuel Kobina Annim. LEARN AND TRADE FOREX WITH GOLIGFX WATCH THE VIDEO BELOW: Food prices experienced a significant rise, hitting 55.0%, while ...

Starting from August 15, 2023, the Ghana Revenue Authority (GRA) is set to initiate a 10% withholding tax on all gross gaming winnings, according to an official announcement. The new tax will be applied to profits gained after each win, while the existing 15% Value Added Tax (VAT) on stakes will be discontinued. This alteration is in accordance with an ...