Bussiness
Transport fares expected to go up by 10%
Transport fares are expected to go up by some 10% later this week if the unionised operators, Ghana Private Road Transport Union and the Ghana Road Transport Coordinating Council, are able to get the Transport Minister’s blessings on this margin of increase.
The operators and the Transport Minister, Kwaku Ofori Asiamah, are expected to meet at a crunch meeting this Wednesday, June 22nd, 2022.
However, at a meeting between the two bodies and the Transport Minister last Friday, June 17th, 2022, there was some agreement that the fares should be reviewed.
But a final agreement was not reached on the margin of increase of the petroleum products.
The meeting also agreed that the time has come for some taxes on fuel to be reviewed.
Prices of fuel on the local market increased over 4% on average terms in the just ended Pricing-window of June 15, 2022.
For the rest of June 2022, the Institute for Energy Security (IES) projected another sharp rise in the price of the various products on the back of the 0.86% depreciation of the cedi and the international market price increase of 14.81% for petrol and diesel
In nominal terms, it said petrol price will increase by about 10% to sell above ¢11per litre and diesel by about 15% to sell above ¢14 per litre.
Price of Liquified Petroleum Gas (LPG), however, was projected to fall further by 5% from its current price.
Meanwhile, market leader, GOIL, has increased the price of petroleum products at the pumps.
It went up over the weekend.
A litre of petrol is going for ¢10.99 which is in line with the current market condition.
However, diesel is going for ¢13.39 pesewas.
Source: Joy Business
Bussiness
Charterhouse announces the Business Elevate Series with launch of ‘The Gastro Feastival’
Charterhouse, Ghana’s leading event management and audiovisual production company, is marking its 25th anniversary of delivering top-tier events with the introduction of an exciting new initiative: The Business Elevate Series.
This innovative series is designed to shine a spotlight on key economic sectors through a series of dynamic B2B and B2C events, including industry conferences, seminars, and exhibitions.
Kicking off the series is The Gastro Feastival, a groundbreaking annual food industry festival that will showcase Ghana’s rich and diverse food ecosystem and agribusinesses from production to consumption.
The launch event will take place on Friday, March 7, 2025, from 4:00 PM to 6:00 PM at the Grand Arena (Accra International Conference Centre).
This landmark event will bring together food industry stakeholders, enthusiasts, experts, and organizations to highlight the food industry’s critical role in Ghana’s socio-economic development and culture.
It will also promote food security, digital innovation, women’s empowerment, youth employment in agribusiness, and sustainable practices.
The Business Elevate Series is a game-changing initiative designed to foster growth and transformation across multiple sectors. With Charterhouse’s deep expertise in organizing impactful meetings, the series aims to unlock investment opportunities, drive innovation, and catalyze social and economic change.
The Gastro Feastival will address six major pillars that drive industry transformation: Investment Opportunities; Job Creation; Innovation, Technology, and Digitization; Youth Involvement (entrepreneurship and career opportunities); Women’s Involvement; Environmental and Social Governance (ESG); Export Opportunities
The event will also establish a Resource Bank, spotlighting key growth opportunities and ensuring the effective allocation of resources to transform Ghana’s food industry.
The Gastro Feastival is a Charterhouse initiative, with Kosmos Innovation Centre as the technical partner.
Bussiness
Ghana’s GDP shows economy is fast recovering despite DDEP – Finance Ministry
Ghana’s Gross Domestic Product (GDP) indicates a rapid economic recovery despite global challenges and ongoing debt restructuring, according to the Ministry of Finance (MoF).
The Ministry in a statement today indicated that latest data from the Ghana Statistical Service (GSS), cumulative economic growth for the second quarter (Q2) of 2024 reached 6.9%, a notable increase from the 4.7% recorded in the first quarter of 2024.
The MoF statement further noted that, “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).”
According to them, the overall real GDP growth for the first half of 2024 rebounded strongly, with year-on-year GDP growth averaging 5.8% for the period, significantly higher than the 2.9% recorded in the same period in 2023.
By Edem Mensah-Tsotorme
Read full statement below
