Inflation for September 2021 jumps to 10.6%; highest figure since August 2020

Data from the Ghana statistical service has revealed that the year-on-year Inflation rate for the month of September 2021 has jumped to 10.6 percent from the 9.7 percent recorded in August. According to the Ghana Statistical Service, the figure recorded as inflation for September is the highest since post-COVID-19 which dates back to August 2020. …

2021 Digital Quality of Life Index: Ghana ranked 89th globally, 2nd in ECOWAS

The third annual edition of the Digital Quality of Life Index (DQL) has ranked Ghana 89th among 110 countries. Covering 90% of the global population, the DQL study is conducted by the cybersecurity company, Surfshark, and evaluates countries based on a set of five fundamental digital wellbeing pillars. Joining the study for the first time, …

AfCFTA must work on the ground to boost continent’s fortunes – Trade Min

The Minister for Trade and Industry, Alan Kyerematen, has admonished African leaders to put their shoulders to the wheel and ensure that all boxes are ticked to facilitate implementation of the African Continental Free Trade Area (AfCFTA) on the ground and not only on paper, as a lot of work has already been done in …

Govt moves to reduce fuel levies – Prices to reduce in coming days

Fuel prices could fall in the coming days, following plans by the government to zero the price stabilisation and recovery levy (PSRL) on petrol, diesel and liquefied petroleum gas (LPG) for two months.The proposal has been approved by President Nana Addo Dankwa Akufo-Addo as a measure to cushion consumers against soaring fuel prices. The National …

AGI calls for extension of zero VAT for textile makers

The Association of Ghana Industries (AGI) wants government to extend the zero Value-Added Tax (VAT) regime for textile manufacturers beyond the December 2021 deadline. The three-year zero-rate was passed as part of measures to revive the once buoyant domestic textile industry after it suffered from the influx of pirated and cheap products onto the market. …

World Bank revises Ghana’s growth rate; economy to expand 4.9% in 2021

The World Bank has revised Ghana’s growth to 4.9% rate in 2021, from the earlier forecast of 1.4% Gross Domestic Product, its latest October 2021 Africa Pulse report has indicated. The Bretton Wood institution is also forecasting a 5.5% expansion in the economy in 2022, reflecting strong growth in exports. “Ghana is projected to exhibit …

Ports well positioned to be gateway to trade in sub region – Board Chair

The Board Chairman of the Ghana Ports and Harbours Authority, Mr. Isaac Osei has stated that Ghana’s ports are well positioned not only to be the gateway to trade in the sub region but also as transit point for the landlocked countries. This, according to him, is as a result of the fact that other …

Tourism ministry partners Spain for skills development

The Ministry of Tourism Arts and Culture has entered into a partnership agreement with Fundación INCYDE, a Spanish entity, to train 150,000 people in Ghana’s tourism value chain. The training will start in November 2021 and focus on skills development for staff of restaurants, hotels, travel and tour companies, tour guides and the creative arts …

Why BoG is phasing out GH¢1 and GH¢2 notes

On Monday, September 27, The Bank of Ghana Governor, Dr. Ernest Addison announced plans to phase out the GH¢1 and GH¢2 notes from circulation. He made this statement to answer the question on why the two cedi note was in short supply in some parts of the country during the bank’s Monetary Policy Committee press conference. BoG phasing out …

Ghana Cedi ranks top for currency performance in sub-Saharan Africa

In the 2021 ranking of Africa’s top currencies published by Africanews.com as well as other African economic journals, the Ghana Cedi ranked third after Libya and Tunisia Dinar. Despite the third position in Africa, the Ghana Cedi ranked top as the strongest currency in Sub-Saharan Africa. Given the dire impact of the coronavirus which has caused many economies to …