BUSINESS

The high cost of capital in Ghana as well as the claim by the National Health Insurance Scheme that it covers almost 100 per cent of health care needs in the country, is curtailing the growth of the private health insurance industry, the Chief Executive Officer of Acacia Health Insurance Limited, Dr Dan Armooh has said. According to him, some ...

Ghana’s total debt stock has hit GH¢391.9 billion, data from the Bank of Ghana indicate. According to the central bank, the country’s debt stock stood at US$ 55.1 billion as of March 2022. Even though it dropped by $3 billion in the first quarter of 2022 from $58.4 billion in January to $55.1 billion in March, it increased in cedi ...

Former Chief Executive Officer (CEO) of Stanbic Bank Ghana Limited, Alhassan Andani has stated that foreign banks may have various reasons for packing from the African continent. First, he explained that technology and the ability to access client base could be a major factor for the banks’ decision to exit the continent. The other factor is aggregate risk, he said. ...

The Producer Price Inflation rate for April 2022 was 31.2 per cent the Ghana Statistical Service (GSS) has said. This rate indicates that between April 2021 and April 2022 (year-on-year), the PPI increased by 31.2 per cent. This rate represents a 1.9 percentage point increase in producer inflation relative to the rate recorded in March 2022 (29.3%). The month-on-month change ...

A cocoa farmer, Samuel Torbi, the second defence witness for Dr Stephen Opuni, a former CEO of the Ghana Cocoa Board (Cocobod), who is standing trial along with businessman Seidu Agongo for causing financial loss of GHS217 million to the state, has told the High Court trying the case that it is not true that farmer drank lithovit fertiliser in ...

The Ghana Road Transport Coordinating Council (GRTCC) has urged the general public, commuters and drivers in particular to disregard the purported transport fare increase of 20%. According to GRTCC, transport fares are determined by stakeholders and not any single body as seen in the case of recent increments. “We wish to state that, transport fares has always been negotiated for ...

The Electricity Company of Ghana is proposing that the Public Utilities and Regulatory Commission allow the power distributor to charge 148% more as a tariff for 2022 It also wants 7.6% average adjustments between the periods of 2023 to 2026. The ECG said in a 55-page document that the gap between the actual cost recovery tariff and the PURC-approved tariffs ...

The Ghana Private Road and Transport Union (GPRTU) has served notice it no longer consults the government nor the Ghana Road Transport Coordinating Council (GRTCC) in the adjustment of transport fares across the country. According to GPRTU, they have not been obliged by any law to consult the government for the adjustment of fares. The group explained that they adopted ...

The Ghana Revenue Authority (GRA) has disclosed that it has made over GHS1million in a day after commencing the implementation of Electronic Transfer Levy also called E-levy. According to GRA, the said amount of money was received by one of the charging entities which owns more than 70 percent of the population. The E-levy was started Sunday May 1, 202w ...

The Ghana Chamber of Telecommunications has warned the public against persons styling themselves as staff of the Ghana Revenue Authority (GRA) to defraud on account of the Electronic Transfer Levy (E-Levy). “There is no reversal that starts with the entity calling you. The entities are the ones supposed to do the refunds. “Anytime someone calls you trying to engage you ...