Government has been urged to prioritize non-traditional exports to boost revenue, following a report from the Ghana Statistical Service indicating a 26.9% decline in the export value of cocoa beans.

The country continued to export more than what it imports since last year, according to the Second Quarter Trade Statistics released by the Ghana Statistical Service. However, the report showed the value recorded from April 2024 to June 2024 declined marginally to GH¢5.4 billion. This also marks a substantial reversal in terms of what the country recorded in the first half of 2023.

Port activities are expected to come to a standstill as freight forwarders intend to protest against shipping lines, citing unfair treatment.

According to the Governor of the Bank of Ghana Ernest Addison,the Bank of Ghana is working on regulatory and guidance measures for the banking sector.

The Ministry of Finance has stated that the latest Gross Domestic Product (GDP) figures released by Ghana Statistical Service (GSS) show that the Ghanaian economy is fast recovering amid global challenges and debt restructuring. According to the ministry, the economy’s robust recovery is in response to the macroeconomic stability and growth interventions that government is pursuing under our IMF-supported Post Covid-19 Programme for Economic Growth (PC-PEG).

Ghana’s economy grew by 6.9 percent in the second quarter of 2024, provisional figures released by the Ghana Statistical Service (GSS) has revealed. Compared to the first quarter of 2024, the economy grew at 4.7 percent. The Services sector continues to be the largest contributor to the growth in the second quarter of 2024 with 44.2 percent. This is followed by the industry sector with a contribution of 32.2 percent and the Agriculture sector with 23.6 percent.

Bringing you updates from the world of business

Some Oil Marketing Companies (OMCs) have started reducing prices of petroleum products at the pumps from today, September 16, 2024.Star Oil Ghana is selling a litre of petrol at GH₵12.55, indicating a one cedi drop. This represents a 7.9 percent decline. The company is also selling a litre of diesel at GH₵13.27. This represents a 4.18 percent drop, indicating a 58 pesewas reduction from the previous price.

Ghana to export large quantities of refined bitumen according to President Akuffo Addo by the end of the year