Producer Price Inflation rises sharply — Now at 65.25% in October

THE Producer Price Inflation (PPI) which measures the average change over time in the selling prices of goods and services as received by domestic producers shot up to 65.2 per cent in October. This was up from the 45.6 per cent recorded in September and clearly signals what is to be expected of consumer inflation […]

BoG withdraws foreign exchange support for importation of rice, vegetable oils, others

The Bank of Ghana has withdrawn foreign exchange support to customers for the importation of certain non-critical or essential goods. Joy Business however understands that the withdrawal of the FX support for the importation of these non-essential goods took effect in the past three weeks. The goods affected include rice, poultry, vegetable oils, toothpicks, pasta, […]

AGI urges businesses to employ innovative strategies to control economic hardships

The Association of Ghana Industries, AGI, is urging industry players to adopt innovative ways to come out of the challenges that confront their industries. Their call comes as businesses are currently grappling with economic challenges confronting the country. Speaking during the Accra Regional Annual General Meeting of the Association, Greater Accra Regional Chairman of AGI, […]

Gov’t to pilot sale of cheap foodstuff at Agric Ministry today

The Ministry of Food and Agriculture will from today, Friday, November 11, 2022, begin the retailing of food items at its premises to civil and local government workers. The Ministry explains that the move forms part of efforts to cushion Ghanaians and mitigate the impact of rising food prices. The first truckload from the farm […]

Registrar of Companies given green light to shut down Q-Net

The Office of Registrar of Companies has been directed by an Accra High Court to shut down Q-Net Investment Limited. The Court presided over by Justice Jennifer Abena Dadzie found that the case filed by Attorney Godfred Yeboah Dame is “a proper case in which the powers of the court are to be executed to […]

Hike in US interest rate: dollar to strengthen, Ghana’s exports to benefit 

US-based Associate Professor of Finance at Andrews University in Michigan, Williams Peprah, is predicting a mixed development for the country as a result of the increase in the US interest rate to 3.75%. The Federal Reserve yesterday increased the benchmark rate to its highest in 14 years. The bank hopes pushing up borrowing costs will […]

Business conditions deteriorate sharply in October

Key findings Output and new orders fall at the quickest pace since April 2020 Solid and accelerated depletion in stocks of purchases Near-record rate of output-charge inflation October data revealed another substantial deterioration of business conditions in Ghana’s private sector – amid accelerated downturns for output, new orders, input inventories and employment. Panel comments alluded […]

Reduce import dependency to save economy – Bawumia urges

Vice President Dr. Mahamudu Bawumia has bemoaned the effect of too much importation on the country’s economy. According to him, the high taste for products from overseas is leaving a deteriorating impact. “And one of the areas where we have to address is to reduce the import dependency that we have as a country,” he […]

BoG revokes licences of two Forex bureaux in Accra for non compliance

In accordance with the provisions of Sections 11 (1) and 12 (f) of the Foreign Exchange Act 2006 (723), the Bank of Ghana has revoked the licence of Trade House and Airport City Forex Bureaux Limited effective October 27, 2022. This was based on the Non-compliance with rules governing the operations of foreign exchange bureaux […]