News from the world of business.

Seventy seven percent of Ghanaians are reporting a significant stress on their livelihood due to the rising costs of living, the impact on their daily life and consumer behaviour. This statistic underscores the severe strain that inflation is placing on households, eroding purchasing power and compelling difficult choices in spending.

More international airlines apply to offer scheduled and chartered services between Accra and London a move which could provide competition for British Airways.

The International Monetary Fund (IMF) has set June 28, 2024, for its Board Meeting to consider Ghana’s second programme review and possibly approve $360 million dollars for the country.

Players within the downstream petroleum sector bring up the impact of the depreciation of the cedi on their business saying it makes the pricing of their products difficult.

News from the world of business.

The Minority caucus in Parliament has expressed concern about rising food prices in the country, calling into question the effectiveness and impact of the government’s much-touted Planting for Food and Jobs (PFJ) initiative.

Government has made a significant milestone in its debt restructuring journey with bilateral creditors as it reached an agreement on a Memorandum of Understanding (MoU) with its Official Creditor Committee.

The stabilisation of the Ghana cedi against the major foreign currencies is expected to continue this week, following a slowdown in foreign exchange demand.t gained 1.01% against the US dollar, narrowing its year-to-date loss to 18.01%. Again, the cedi retrieved 2.36% week-on-week and 3.12% week-on-week of its losses against the pound and the euro, respectively.

Government to sign an agreement with bilateral creditors on debt restructuring next week. All bilateral creditors are in agreement with the final changes made to the memorandum of understanding which was submitted to the finance minister.

Harmful Effects of smoke emanating on vehicles on our highways.

Government Finally settles 2 billion cedis in pension contributions.

Dumsor brought untold hardship to most people in the Gt. Accra region – IEA Survey. The survey shows that about 70.7% of businesses and 61.5% of households reported that power outages have had major or severe effects on their business activities.

Businesses and manufacturers warn that they will have no other option but to pass on any increase in utility tariffs to consumers following the over 5% increment in water and electricity tariff.

Bank of Ghana assures that it is in a strong position to conduct its operation despite its more than 10.5 billion Ghana cedi loss.

The CEO of the Private Enterprise Federation reveals that businesses are finding every possible way to avoid tax payments due to unfavourable business conditions and the high cost of doing business in the country.

The World Bank has revealed that it is expecting its recent disbursements to Ghana to trigger fresh donor funding and private capital investment for the country. The Bank since January has advanced over 800 million dollars expected before the end of this year.

News from the world of business.

The Governor of the Bank of Ghana (BoG) Dr. Ernest Addison has cautioned person’s speculating and betting on the cedi’s current challenges to desist from the act, warning such persons will soon regret their actions.

According to the Bank of Ghana, the stock of Gross International Reserves increased to $6.59 billion in April 2024 representing 3.0 months of import cover, compared with $5.91 billion (2.7 months of import cover) at end-December 2023.

Finance Minister, Dr Mohammed Amin Adam, has revealed that the bilateral creditors through the Official Creditor Committee have shared the draft document on Ghana’s debt restructuring with members for consideration.

News from the world of business.

Members of the Ghana National Petroleum Tanker Drivers Union have commenced an indefinite sit-down strike, demanding better conditions of service.

News from the world of business.