Ghana’s economy has taken an unexpected turn, with inflation rates rising to 21.5% in September 2024, after months of decline ¹. Economist Peter Terkper attributes this upward shift to price hikes in essential goods and services, such as maize and rent. Maize, a staple food in Ghana, has seen significant […]
Business
Labadi Beach Hotel Achieves Milestone with Record GH¢16.5 Million Dividend Payment
Ghana’s premier five-star destination, Labadi Beach Hotel, has made history with a record dividend payment of GH¢16,509,000 to its shareholder, the Social Security and National Insurance Trust (SSNIT), at its recent Annual General Meeting. This impressive achievement reinforces the hotel’s position as a flagship in Ghana’s hospitality industry, underscoring its […]
Cedi Depreciates Further Against US Dollar, Contrary to Bank of Ghana’s Projections
The Ghana cedi experienced a 3.95% decline in value against the US dollar in October 2024, bringing its year-to-date depreciation to nearly 29%. This drop comes despite Bank of Ghana Governor Dr. Ernest Addison’s earlier assertion that the cedi would gain ground against the dollar. Heightened demand pressures drove the […]
Soya Bean Shortage Hits Ashanti Region, Forces Factories to Shut Down or Reduce Production
A severe shortage of soya beans in the Ashanti region has brought processing factories to a grinding halt, with many forced to either shut down operations completely or substantially reduce production capacity. The crisis is attributed to the high export of the commodity to India and other Asian countries, where […]
CLOGSAG Declares Nationwide Strike Over Unresolved Salary Structure
The Civil and Local Government Staff Association of Ghana (CLOGSAG) has declared a nationwide strike, effective Thursday, November 7, 2024. This decision comes after the government failed to meet the October 31 deadline to finalize a new salary structure for civil service and local government staff, which was supposed to […]