The Central Bank’s review of its directives on the use of foreign exchange (forex) to save the free fall of the Cedi is having a positive impact on the local currency as the Ghana cedi continues to gain strength against major foreign currencies.
President John Dramani Mahama has expressed optimism that the three-year International Monetary Fund (IMF) programme, to take off in January 2015, would open up investment opportunities for the country.
The Secretary General of the Ghana Agricultural Producers and Trader’s Organisation (GAPTO), Alhaji Haruna Agesheka, has advised businesses in the agricultural sector to form groups to enable them to apply for funds from financial institutions.
Ghanaian products are unable to penetrate the international market due to poor packaging, labelling and the inability of export-oriented companies to meet local and international export specifications.
Bank of Ghana officials have projected the nation’s economy is to hit a single digit inflation rate again by the second half of next year, subject to world market price of oil and stability in the exchange rate.
The African Management Services Company (AMSCO) in collaboration with the World Trade Centre (WTC), Accra, is hosting a private sector breakfast meeting aimed at developing human capital in the private sector to promote the growth of enterprise in the country.
The Chief Executive Officer of the Ghana Export Promotion Authority (GEPA), Mr Gideon Kwame Boye Quarcoo, has stated that Ghana needs to work hard to increase its export volumes in order to reap more foreign exchange for its development programmes.
The Executive Director of Inesfly Africa, Mr Alejandro Pons has stated that Ghana’s strict adherence to the rule of law has made the country one of the best destinations to do business on the African continent.
Last week Thursday, Ghana sold a US$1billion Eurobond at a coupon rate of 8.125 per cent. This is lower than what many market watchers had expected especially given that the economy had had its fair share of challenges - this year in particular. The bond was oversubscribed with orders of up to US$3 billion.
TELECOM companies have suffered an upsurge of fibre optic cable cuts mainly caused by road construction across the country in spite of making several reports to the Ministry of Roads and Highways. Currently there are six telecommunications companies operating in the country.