Joy Business Report @1

Financial economist Prof. Lord Mensah proposes some short term measures to deal with current pressure on the Ghana cedis.

The Bank of Ghana has reiterated its commitment to continue to pursue policies and programmes aimed at improving the operational banking environment, to build customer confidence and ensure the stability and soundness of the financial sector.

Ghana’s construction industry value of $9 billion is ranked 7th in Sub-Sahara Africa, Fitch Solutions, research arm of ratings agency, Fitch, has said.

The Managing Director of Ecobank Ghana PLC, Daniel Sackey says it is time to take deliberate steps to resolve the housing deficit in the country.

Out of 15 top currencies on the African continent tracked by Joy Business, the Ghana cedi is presently placed 7th in terms of league of best performing currencies, despite the recent pressures on the local currency.

The Bank of Ghana has won an arbitration brought against it by Sibton Switch Systems Limited (“Sibton Switch”) in relation to the termination of the Master Agreement for the Ghana Retail Payment Systems Infrastructure in 2017.

“We will continue to create and maintain the conducive investment environment that not only guarantees the safety of investments but good returns as well. We will continue to protect legitimate investments, and preserve the atmosphere of peace, stability and security that has been an important contributor to the increasing presence of German businesses in Ghana”. These were the words of President Nana Akufo-Addo, on Tuesday, when he addressed the Ghana-Germany Business Forum, in Dusseldorf, as part of his working visit to the Federal Republic of Germany.

The LPG Marketers Association has welcomed government’s decision to lift the ban on new Liquefied Petroleum Gas retail outlets, saying, it will help their members to recoup their investments and boost consumption. Government is expected to meet National Petroleum Authority (NPA) in September 2021 to finalise a cabinet memo on the lifting of ban on the construction of new Liquefied Petroleum Gas (LPG) outlets.

Mobile Money fraudsters will now have their numbers and device blocked across all networks. This is a collective decision taken by the network operators to help address this menace, which has the potential to erode confidence in the mobile money space.

Top Story: Ghana will find it difficult to compete with South Africa, Egypt, Morocco, and Kenya in the Africa Continental Free Trade Area, based on the 12 pillars of the Global Competitiveness Index, a report by research and public policy think tank, CUTS International has revealed.