Joy Business News

The Securities and Exchange Commission is urging the public to do a thorough self-assessment of investment firms in the country that may want to introduce or introduce new product onto the market before making a decision to invest. The call follows the growing number of advertised investment products without approval from the Commission.

More Oil Marketing Firms are expected to start adjusting fuel prices at the palms beginning today coming after industry giant Total increase the price of petrol and diesel by a little of 4% to 6 cedis 80ps.

The Ghana National Petroleum Corporation (GNPC) has announced the acquisition of 7% Commercial Interest in both the Jubilee and TEN blocks, from Occidental Petroleum for a purchase price of $199 million, with effect from 1st, April 2021. This is in line with GNPC and Government’s strategy of increasing its participating stakes in viable oil blocks going forward.

The International Monetary Fund has revised Ghana’s growth rate marginally by 0.1% to 4.7% in 2021, signaling the Ghanaian economy is recovering from the impact of Covid-19. This is line with forecast by the World Bank (4.9%) and other renowned international institutions.

Ghana, regarded as one of the largest recipients of Foreign Direct Investment inflows in West Africa registered a 52% decline in FDIs last year, according to the World Bank’s latest 2022 International Debt Statistics.

Communications Minister, Ursula Owusu-Ekuful says her outfit is currently assessing calls for the inclusion of National Passport and other forms of identification in the ongoing SIM card re-registration process. According to her, the law within which the exercise is being undertaken specifies the Ghana Card as the sole mode of identification verification.

Ghana’s inflation rate will end this year at 9.8% in line with the Bank of Ghana’s target of 8% +/-2, according to the Africa Pulse Report by the World Bank. The expected 9.8% inflation rate means average change in price of goods and services will be marginal from now till the end of the year. Inflation surged to 9.7% in August 2021 due to increase in food and transport prices.

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Joy Business News

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