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Producer Price Inflation decreases to 14.5 % in February

Dr. Philomena Nyarko is Government Statistician

The year-on-year Producer Price Inflation (PPI) decreased to 14.5 percent in February 2016 from the revised 16.9 percent recorded in January 2016. This represents a 2.4 percentage point decrease in the PPI rate recorded in February 2016 relative to what was recorded in January 2016. The month on month change between January 2016 and February 2016 was zero percent. The Producer ...

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(Photos) Shop & Save Supermarket opens Adenta branch

The Shop and Save Supermarket

Retail supermarket, Shop and Save, has opened a new branch at Adenta in Accra. The shop which is the biggest of all its three shops is aimed at providing customers with traditional and contemporary food stuffs. The supermarket houses mainly consumable products including beverages, fruits, assorted meat, provisions, perishable goods. Chief Executive Officer of Shop and Save supermarket, Mike Chambers, ...

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Cashew export ban: Processors warn of massive drop in profits

cashew

Cashew processing companies have hinted of a massive decline in their profit margins following the withdrawal of the ban on the exportation of raw cashew nuts. They contend the situation may eventually compel them to take some drastic decisions which are likely to include layoffs. The caution comes days after the Trade Ministry reversed a policy directive banning the export ...

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(Audio) Prices of foodstuff to hit all time high

food

Players in the food stuff value chain have warned the prices of food stuff will hit an all time high across markets in Accra. The development follows the recent drought that hit parts of Ghana. Citi Business News’ Jessica Aryee visited the Makola market and has filed this report. Click to listen to the full audio report. – By: Jessica Ayorkor ...

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Cedi records impressive performance in first quarter of 2016

Ghana Cedi

Some economists have lauded the central bank for the stabilizing cedi in the first quarter of this year. According to economist Dr Ebo Turckson, the stability in the currency can be attributed to importers being allowed to trade in the Chinese Yuan along the dollar, pounds and the euro. Figures from the Bank of Ghana indicate that as at Thursday, ...

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FPSO shut down will not lead to dumsor- Power Ministry

dumsor

The Deputy Minister of Power, John Jinapor, has told Citi Business News that the current shut down of the FPSO Kwame Nkrumah for routine maintenance, will not lead to a load shedding exercise. His assertion follows that of the Ghana Grid Company (GRIDCo) which earlier  assured the public that measures have been put in place to mitigate the impact on power supply ...

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Cashew ban: Farmers welcome Ministry’s drawback on decision

Cashew_nut-300x232

The Cashew Industry Association of Ghana (CIAG) has welcomed the Ministry of Trade and Industry’s withdrawal of a partial ban on exportation of raw cashew nuts in the country. According to the Cashew Industry Association, the ban which sought to revamp a collapse of the cashew processing industry was the catalyst to collapsing the cashew industry. This comes after a ...

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Ghana’s debt hits $25.6 billion

debt

Data from the Bank of Ghana (BoG) reveal as at December 2015, Ghana’s total debt stood at $25.6 billion. According to the Bank of Ghana’s summary of macroeconomic and financial data released on March, 18. 2016 as at December 2015 Ghana’s public debt was 25.6 billion dollars and in cedi terms 97.2 billion cedis. Per the BoG’s data Ghana’s debt ...

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(Audio) Poultry import industry about to collapse

poultry

Players in the imported poultry business are complaining of a looming collapse as the business is no more profitable.   The importers say they face a lot of challenges which includes tax and high electricity tariff. Citi Business News’ Jessica Ayorkor Aryee visited the Tema Fishing Harbour and has come through with this report.   – By: Jessica Ayorkor Aryee/citibusinessnews.com/Ghana

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Trade Minister defends ban on cashew exportation

Dr. E. Spio-Garbrah is Minister for Trade

The Minister of Trade and Industry, Ekow Spio-Garbrah has defended his ministry’s decision to ban exportation of cashew nuts in the country. According to him, local cashew processing companies have collapsed due to the exportation of the product to other countries. He reiterated that the directive seeks to boost the level of employment in the country. A directive issued by ...

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