Joy Business Report @1

The Cocoa Marketing Company (CMC), Ghana Shippers Authority (GSA) and 18 shipping lines have agreed to increase basic freight rates for the 2022/2023 cocoa season to all destinations but the United Kingdom (UK).

Bringing you updates from the world of business

Ratings agency, Fitch, has revised its end-year forecast for the price of Brent Crude to $100 per barrel, from the previous $105.

Ghana’s economy expanded by 4.8% in the second quarter of this year, higher than the 3.4% recorded in the first quarter, data from the Ghana Statistical Services has revealed.

The Ghana Private Road Transport Union (GPRTU) has debunked claims it will increase transport fares in the coming days.

Two Chinese firms dealing in footwear and accessories at the Central Business District of Accra in the Greater Accra region have been handed over to the Regional Criminal Investigations Department, CID for allegedly issuing fake Value Added Tax (VAT) invoices.

Tullow oil has made significant progress on new drilling with 6 new wells said to be completed in coming months.

Inflation shoots up to 33.9% in August 2022; highest in 21 years Inflation shot up to 33.9% in August 2022, the highest in 21 years, data from the Ghana Statistical Service (GSS) has revealed. This is expected to increase the cost of borrowing by raising interest rates further.

The Securities and Exchange Commission (SEC) and Economic and Organised Crime Office (EOCO) has advised the public to desist from doing any form of business with 17 investment entities.

Interest rates in the short-term Treasury market rose further to 31% on September 10, 2022, as investors continue to show interest in the short-term securities. Though government exceeded its target for the 13th week running, the cost of repaying these loans will go up.