Ghana reserves position remains strong; trade surplus increased to $1.805bn in June 2024
Ghana’s gross international reserves position remained strong in the first half of 2024. According to the Bank of Ghana, the stock of Gross International Reserves increased by $275 million $6.865 billion in June 2024, compared to $5.344 billion during the same period in 2023. This represented 3.1 months of import cover. The Gross International Reserves […]
Economic challenges due to high exchange rate – ISSER
The Institute of Statistical, Social and Economic Research (ISSER) at the University of Ghana has attributed rising labour agitations, high business costs, and the collapse of some businesses to the high foreign exchange rates and inflation. This finding is sourced from the Institute’s assessment of the recent mid-year budget review presented by the Minister of […]
The Institute of Statistical, Social and Economic Research (ISSER) at the University of Ghana has attributed rising labour agitations, high business costs, and the collapse of some businesses to the high foreign exchange rates and inflation. This finding is sourced from the Institute’s assessment of the recent mid-year budget review presented by the Minister of […]
Labadi Beach Hotel still sets standards after 33 years
The renowned 5-star establishment, Labadi Beach Hotel, has once again proven its commitment to excellence by receiving the CIMG Hospitality Facility of the Year 2023 award for the third time in a row. This prestigious accolade emphasizes the hotel’s unwavering dedication to providing exceptional service and creating unforgettable guest experiences. In addition to this honor, […]
Ghana’s Cocoa Freight Rates to Increase by 5% for 2024/2025 Season
The Cocoa Marketing Company (CMC), Ghana Shippers’ Authority (GSA) and 17 shipping lines have agreed to a 5% increment in basic freight rate for the 2024/2025 cocoa season. The new rates, set to take effect on October 1, 2024, reflect the ongoing challenges in the global shipping industry while maintaining Ghana’s competitiveness in the cocoa […]
Distinguished Speaker Series on Foreign Direct Investment; H.E. John Dramani Mahama
On 29th August 2024, The consortium of reputable trade associations, including the Spain Ghana Chamber of Commerce, American Chamber of Commerce in Ghana, Ghana Netherlands Business & Culture Council (GNBCC), CCI France Ghana, Canada Ghana Chamber of Commerce, Ghana South Africa Business Chamber and Eurocham Ghana organised the inaugural event of the Distinguished Speaker Series […]
New Shippers Authority Law will promote welfare of traders – GUTA
The Ghana Union of Traders Association (GUTA) has welcomed the newly passed Ghana Shippers’ Authority (GSA) Law, saying it will offer the Authority “the teeth to bite” to effectively regulate the shipping industry. The Association said the law would empower the GSA to exercise control of the port and have the power to approve or […]
T-bills auction: Government fails to meet target for 6th consecutive week
The government failed to meet its treasury bills target for the sixth week running. According to the T-bills auction published by the Bank of Ghana, the government missed the target by 6.91%. The government got GH¢ 4.624 billion from the sale of the T-bills. The target for the auction was GH¢4.96 billion. GH¢3.606 billion, representing […]
It is time to review VAT policy – GRA supports calls by business associations
The Ghana Revenue Authority (GRA) has joined calls for policy reforms to simplify the country’s tax administration. According to the Commissioner General Julie Essiam the current Value Added Tax (VAT) structure makes it difficult for individuals and businesses to comply. She made this call at the 12th Annual International Tax Conference organized by the Chartered […]