🚩 The year-on-year inflation rate regarding Consumer Price Index (CPI) for February 2019, was 9.2% compared to 9.0% recorded in January 2019, a Ghana Statistical Service (GSS) report has indicated. According to the GSS, the monthly change rate in February 2019 was 1.0% which is the same as recorded in January 2019. Acting Deputy Government Statistician, David YenukwaKombat, made this known to the media on yesterday in Accra. He indicated that the year-on-year non-food inflation rate for February 2019 was 9.7% compared with the rate of 9.5% recorded in January 2019.
🚩 The Northern Electricity Distribution Company (NEDco) says it is raising over $200 million in the form of grants and concessionary loans to improve on its operations. This follows the inability of the company to access a $54-million grant from the Millennium Challenge Corporation (MCC) of then United States to build its delivery capacity for efficient power supply.
🚩 The Ghana Commodity Exchange and Barclays Ghana, a member of the Absa family, signed a Memorandum of Understanding to cooperate with each other in building a framework for the settlement of trades as well as the provision of financial services to exchange actors. As part of this MOU, Barclays Ghana, the biggest lender to the Agriculture Sector in 2018, has agreed to collaborate with GCX in the Warehouse Receipt Financing Programme and be a Settlement Bank to Exchange Members.
🚩 Stakeholders in the Ghana Maritime Authority are calling for the development of a comprehensive Maritime Transport Policy as soon as possible.
According to them, such a policy will streamline activities in the maritime sector—enhancing its contribution to trade. The comments were made at the opening ceremony of the National Maritime Transport Policy Workshop held here in Accra.
🚩 The Finance Minister, Ken Ofori-Atta, has assured that the cedi will stabilise in the next few weeks.
Speaking to Journalists outside Parliament House Wednesday, March 13, 2019, Mr. Ofori-Atta said government is expecting large inflows of foreign exchange which will help turn around the value of the cedi which has hit a record low of 5.6 to a dollar. Critics have blamed government’s policies for the weakening of the cedi against the U.S. Dollar and other major currencies – a stance Vice President Dr Bawumia Bawumia rejected.
🚩 MTN Group Ltd plans to push ahead with an initial public offering of its Nigeria unit in April or May once Africa’s biggest wireless carrier resolves a $2 billion tax dispute in the country. When the tax matter has been settled, “the board can assign a value to the company and we do an IPO,” spokesman Tobe Okigbo told reporters in Lagos on Wednesday. “It is difficult to put a value on it when there is such an issue.”
🚩 The Management of Ethiopian Airlines in Ghana has commended government and Ghanaians for the support it has received during a period of pain. Genet Michael, the General Manager of the airline in Ghana said she appreciates the warmth and empathy the Airline has received from Ghanaians who have supported them over the years. "I have felt the traditional Ghanaian hospitality and love a lot during this moment of grief. I am really grateful to the good people of Ghana.
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