Joy Business Report @1

Bringing you updates from the world of business

Bringing you updates from the world of business

Bringing you updates from the world of business

Bringing you updates from the world of business

Bringing you updates from the world of business

Businessman, Senyo Hosi says government’s support for Ghana’s agricultural sector is largely inadequate and unable to generate profitability for farmers and investors engaged in agribusiness. With statistics from the agricultural ministry as a case in point, Mr Hosi was of the opinion that government has been inefficient in providing necessary support for the sector in the past years, as depending on data from the agric ministry has a tendency to “collapse businesses”.

Bringing you updates from the world of business

Bringing you updates from the world of business

The Institute of Economic is proposing a cap on the country’s annual borrowing to prevent further rise in the debt level, which has reached unsustainable levels and could throw gains chalked by the economy. It therefore wants parliament to implement an Appropriations Bill for borrowing, similar to the policy imposing expenditure ceiling. This system is used by the US Congress to rein in executive borrowing.

The Monetary Policy Committee (MPC) of the Bank of Ghana has increased its Policy Rate – the rate at which it lends to commercial banks by 100 basis points (1%) to 14.5%, citing risks to inflation, exchange rate as well as fiscal and debt sustainability challenges.