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GHACEM supports Ghana’s infrastructural dev’t GHACEM supports Ghana’s infrastructural dev’t

The Acting Director of Strategy and Corporate Affairs of GHACEM, Mr. Solomon Ayiah, says the country’s leading cement producer will continue to forge partnerships to drive the infrastructural development of the country.

He said GHACEM was committed to partnering efforts by government and other public and private , Read More

ASN undercuts mortgage competition ASN undercuts mortgage competition

Having acquired licence to operate non-banking financial services, home-builder ASN Properties says it intends to ease the burden of potential home-owners by underwriting its own mortgages at the much cheaper interest rate of 12% to 15% with thirty-year tenure.

With interest rates on mortgages imitating the unbearably high rates of over 30% in the country generally, the company believes it is making it possible for the average middle-income earner to own a home, Read More

Uniform short codes for Telcos starts today Uniform short codes for Telcos starts today

All telecommunications companies in the country are expected to begin using uniform short codes for their various customer service activities beginning today, Monday September 8, 2014.

The National Communications Authority (NCA), which made this known, said it was collaborating with telecommunications companies to make this a reality, Read More

Ghana misses another chance to export to Turkey Ghana misses another chance to export to Turkey

Ghana has missed three separate opportunities to export crude palm oil (CPO), tuna and aluminium ingots to Turkey this year under circumstances that cast doubts on the country’s preparedness to properly diversify exports and increase earnings from the sector.

The Director of Projects at the Ghana Export Promotion Authority (GEPA), Mr Emmanuel Quao, told the Daily Graphic in Izmir, Turkey, that a Turkish company which wanted 26,000 tonnes of CPO supplied to it on monthly basis was turned down because palm oil producers in the country could not raise the required amount to support that kind of production.

“None of the producers was able to take up the order and we also tried to get smallholder producers to make up for the quantities but that didn’t work,” Mr Quao, who coordinates Ghana’s participation in Turkish fairs, told the paper in Turkey, Read More

Take cocoa farming as business – Solidaridad MD Take cocoa farming as business – Solidaridad MD

The Managing Director of Solidaridad West Africa, Mr Isaac Gyamfi, has urged Ghanaian cocoa farmers to approach the cultivation of cocoa with a strict business sense and not merely as a farming activity.

He said if farming was looked at as an occupation, farmers would become motivated to take good care of their farms as profitable business ventures with or without government support. In that way, he added, they stood to gain maximum financial benefits from agriculture, Read More

Treasury bills starve banks of deposits Treasury bills starve banks of deposits

The Head of Proven Trusted Solutions — an employee training and development and marketing research firm in Kumasi — Mr. Joseph Akossey has asked the central bank of Ghana to consider revising the interest rates on Treasury bills to encourage more people to deposit with banks as one of the approaches to rekindle the savings culture of Ghanaians.

He said taking this step to reduce the current soaring interest rates on Treasury bills would discourage individuals from investing heavily in Treasury bills in order to arouse people’s interest in depositing more with banks, particularly the rural and community banks, thereby empowering them to get more deposits to be given out as credit, Read More

Farmers encouraged to venture into soya bean production Farmers encouraged to venture into soya bean production

The Minister for Fisheries and Aquaculture Development, Sherry Ayitey, has encouraged farmers to venture into soya bean production.

This is because it has been observed that the low production of soya bean is a major setback for local fish farming.

Madam Ayitey said this when she paid a working visit to Ranna Fish Feed, an Israeli Factory at Prampram.

She noted that as a result of the low production of soya bean, fish feed producers are compelled to import raw materials for the preparation of the product.

Businesses warn of ‘catastrophe’ Businesses warn of ‘catastrophe’

The Ghana Chamber of Commerce and Industry has warned of “catastrophic” consequences if government fails to intervene to stem spiralling costs of production and declining confidence among businesses.

In a statement whose tone underlined the growing impatience of companies with the lack of improvement in the economic situation, the chamber said it is gravely concerned about the rising Producer Price Index (PPI) and its ramifications on businesses.

July’s PPI, issued by the Ghana Statistical Service, showed that manufacturers have been raising their prices at the fastest pace in years in the wake of soaring utility bills, rising transport costs, and higher prices of raw materials, Read More

Institute a mineral revenue management law Institute a mineral revenue management law

Participants at a consultative forum held in Bolgatanga has called on Government to as a matter of urgency institute a law on mineral revenue and management to ensure accountability, transparency and equitable distribution of resources.

The forum was organised by the Africa Centre for Energy Policy and IBIS Ghana and facilitated by the Northern Patriots in Research and Advocacy (NORPRA), non-governmental organisations (NGOs).

It was aimed at seeking inputs on policy framework and legislation to be passed to regulate the management of revenue accrued from mineral resources such as gold and bauxite, Read More

Agric can create 10k jobs/yr for youth – Expert Agric can create 10k jobs/yr for youth – Expert

As many as 10,000 jobs could be created in the agriculture sector for Ghana’s youth every year, the Executive Director of Agri-Impact Consult, Dan Acquaye, has said.

The Agri-business expert believes a little focus and investment in the agriculture sector by government will make it possible.

At a two-day training programme sponsored by the Skills Development Fund (SDF) and organised by Agri-Impact Consult (AIC) for young farmers from across the country, Acquaye wondered why the country spends US$60 Million annually to import onions – an investment that can create 10,000 jobs for young farmers, with an annual income of US$6,000 each, Read More

More job losses in first half More job losses in first half

In spite of the rising real unemployment levels in the economy, employers in the formal sector continue to throw people out of jobs due to redundancy.

By the first half of the year, 1,764 workers had been made redundant by 61 institutions, mainly, due to their attempt to control cost, latest figures from National Labour Department (NLD) indicate.

Last year, 141 companies declared 3,995 workers redundant and, therefore, sent them packing, while in 2012, 594 workers in 36 institutions were laid-off, Read More

Chamber Of Commerce Expresses Worry Over Production Cost Chamber Of Commerce Expresses Worry Over Production Cost

The Ghana Chamber of Commerce and Industry (GCCI) has observed with concern, the rising Producer Price Index (PPI) and its attendant effects on industry in the country.

It said data from the Ghana Statistical Service for the month of July 2014 indicated that the PPI rose by 47.4 per cent, compared to July 2013, and that between June 2014 and July 2014, the rate of inflation increased by 10.2 per cent.

The GCCI raised these concerns in a statement signed by its President, Dr. Seth Adjei Baah, and copied to the Ghana News Agency (GNA) on Thursday, Read More

AngloGold invests in communities through Trust Fund AngloGold invests in communities through Trust Fund

AngloGold Ashanti’s (AGA), Iduapriem Community Trust Fund has commissioned new projects for people in its host communities in the New Techiman district of the Western region.

A statement issued by AGA and copied to the Ghana News Agency on Wednesday said the projects, Read More

Consumers’ purchasing power drops Consumers’ purchasing power drops

Prices of some commodities on the local market have shot up since January 2013 by an average of 50 per cent, even though the annual rate of inflation for last month showed a 15.3 per cent hike in the general price level of goods and services, Read More

Two oil and gas enclave roads start Two oil and gas enclave roads start

Work has started on two road projects in the Atuabo area of the Western Region ahead of the start of operations at the Gas Processing Plant.

As part of a working visit to the Atuabo Gas Plant site, President John Mahama performed a short ceremony to indicate the start of work on a 10km asphaltic concrete road “linking the site of the gas plant to Alabokazo”, Read More

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